Fleetcor completed several acquisitions, including Global Reach, PayByPhone Technologies, Mina Digital Limited and Business Gateway AG, to enhance its product offerings and expand its geographic presence.

Fleetcor completed the sale of its Russia business in August 2023, resulting in a net gain on disposal of $13.7 million. This strategic decision reflects the company's response to geopolitical events and a focus on core markets.

Fleetcor expects to rebrand to Corpay, Inc. in March 2024, including changing its New York Stock Exchange ticker from FLT to CPAY, indicating a strategic shift in the company's branding and market positioning.

Management identified material weaknesses in IT general controls and balance sheet recognition, and is implementing remediation plans to improve internal control over financial reporting.

Fleetcor is committed to attracting, retaining, and developing talent through various programs, including diversity and inclusion initiatives. These efforts aim to create a strong employee value proposition and improve business outcomes.

The FTC filed a lawsuit against Fleetcor alleging unfair and deceptive acts and practices. While the court granted summary judgment to the FTC on liability, it granted summary judgment to Fleetcor on the FTC's claim for monetary relief. The company intends to appeal the decision.

The company acknowledges its dependence on interconnected computer systems and the potential for disruptions due to system errors, cyberattacks, and other technological risks, which could subject the company to liability and damage its reputation.

Fleetcor is subject to various federal, state, and foreign laws and regulations, including those related to money transmission, privacy, and data security. Changes in these regulations or failure to comply could have a significant effect on the company's operations.

Fleetcor acknowledges risks related to operating in various countries, including political and economic instability, as well as the impact of international conflicts such as the Russia-Ukraine war, which could affect its customers, operations, and global business.

Fleetcor acknowledges the competitive landscape and the need to adapt to technological changes and evolving customer needs to maintain its market position. Failure to do so could result in loss of customers and partners.

Fleetcor's competitive strengths include its global scale, which enables new offerings and cost synergies, and its specialized proprietary networks, which provide unique data capture and advantageous economics.

Fleetcor competes with financial institutions offering a full suite of financial products and specialized competitive offerings from other companies, which could impact its ability to maintain or improve its competitive position.

Processing expenses increased by 7.2% to $819.9 million, primarily due to higher transaction volumes and expenses related to acquisitions. This indicates a need to manage costs effectively as the company scales.

Selling expenses increased by 10.1% to $340.2 million, primarily associated with higher sales volumes and acquisition-related expenses. This indicates a need for efficient sales and marketing strategies.

General and administrative expenses increased by 3.3% to $603.4 million, primarily due to the impact of acquisitions and other increases associated with the growth of our business. Continued monitoring of these expenses is needed.

Fleetcor spent approximately $370 million in capital and operating expenses to operate, protect, and enhance its technology, demonstrating a commitment to innovation and technological advancement.

Fleetcor is focused on streamlining digital customer experiences, modernizing core transactional systems, and investing in data assets to deliver value for customers.

Fleetcor increasingly leverages cloud services to develop new solutions and modernize legacy assets, providing increased flexibility and agility in its technology infrastructure.

The Board authorized an increase to the stock repurchase program by $1.0 billion to $8.1 billion, demonstrating a commitment to returning capital to shareholders.

Fleetcor uses cash for acquisitions to expand product offerings and geographic reach, indicating a strategic use of capital for growth.

At December 31, 2023, the company had approximately $2.2 billion in total liquidity, consisting of approximately $0.8 billion available under its Credit Facility and unrestricted cash of $1.4 billion.

Fleetcor emphasizes fostering a culturally diverse and inclusive environment and creating a true sense of belonging among employees.

Fleetcor's benefits programs are designed to meet the evolving needs of a diverse workforce across the globe. Because we want our employees and their families to thrive, in additional to our regular benefit offerings, we focused on physical and mental well-being in 2023.

Fleetcor published its inaugural Corporate Responsibility & Sustainability Report (CRS Report), in which we provided detailed information about the Company's views and approaches regarding environmental, social and governance issues.

Fleetcor's financial performance is influenced by macroeconomic conditions, including recessions, inflation, and unemployment, which impact the demand for fuel and business-related products and services.

Adverse weather events, travel bans due to medical quarantine or in response to natural catastrophes, especially those that impact regions in which we process a large number and amount of payment transactions, could adversely affect our transaction volumes.

The significant volatility in fuel prices can impact these revenues by lowering total fuel transaction purchase amounts and tightening fuel price spreads.