Company: ACIW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000935036-25-000019
Chunk: 111

Company: ACI WORLDWIDE, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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 2025, we had $189.7 million of cash and cash equivalents, of which $90.7 million was held by our foreign subsidiaries. If these funds were needed for our operations in the United States, we may potentially be required to accrue and pay foreign and U.S. state income taxes to repatriate these funds. As of June 30, 2025, only the earnings from our Indian foreign subsidiaries are indefinitely reinvested. We are also permanently reinvested in the outside book/tax basis differences related to foreign subsidiaries. These outside basis differences could reverse through the sale of foreign subsidiaries, as well as various other events, none of which are considered probable as of June 30, 2025.

Available Liquidity

The following table sets forth our available liquidity for the dates indicated (in thousands):June 30, 2025December 31, 2024Cash and cash equivalents$189,697 $216,394 Availability under revolving credit facility338,100 528,100 Total liquidity$527,797 $744,494 

The decrease in total liquidity is primarily due to increased borrowings on the revolving credit facility used to redeem the Company's outstanding 2026 Notes.

The Company and ACI Payments, Inc., a wholly owned subsidiary, maintain a $75.0 million uncommitted overdraft facility with Bank of America, N.A. The overdraft facility acts as a secured loan under the terms of the Credit Agreement to provide an additional funding mechanism for timing differences that can occur in the bill payment settlement process. As of June 30, 2025, the full $75.0 million was available.

Stock Repurchase Program

The board approved a stock repurchase program authorizing the Company, as market and business conditions warrant, to acquire its common stock and periodically authorizes additional funds for the program. In June 2024, the board approved the repurchase of the Company's common stock of up to $400.0 million in place of the remaining purchase amounts previously authorized.

We repurchased 2,713,799 shares for $134.7 million under the program during the six months ended June 30, 2025. Under the program to date, we have repurchased 65,581,636 shares for approximately $1.2 billion. As of June 30, 2025, the maximum remaining amount authorized for purchase under the stock repurchase program was approximately $223.5 million. See Note 6, Common Stock