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Segments (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Company's Segment Results | The Company's segment results, inc luding sig nificant segment expenses regularly provided to the CODM, are as follows for the years ended December 31, 2024, 2023 and 2022 (in thousands)*:
|  | Year Ended December 31, 2024 1
|  | Vehicle Payments 2 |  | Corporate Payments |  | Lodging Payments |  | Other |  | Total
Revenues, net |  | $2,008,799 |  | $1,221,915 |  | $488,589 |  | $255,286 |  | $3,974,589
Expenses: |  |  |  |  |  |  |  |  |  |
Processing |  | 365,457 |  | 264,298 |  | 119,645 |  | 119,685 |  | 869,085
Selling |  | 175,750 |  | 172,365 |  | 24,317 |  | 8,474 |  | 380,906
General and administrative |  | 311,784 |  | 192,853 |  | 72,526 |  | 39,711 |  | 616,874
Depreciation |  | 70,178 |  | 29,949 |  | 13,205 |  | 6,774 |  | 120,106
Amortization |  | 129,988 |  | 63,367 |  | 35,494 |  | 2,133 |  | 230,982
Goodwill impairment |  | — |  | — |  | — |  | 90,000 |  | 90,000
Other operating, net |  | 82 |  | 686 |  | 14 |  | 7 |  | 789
Gain on disposition of business |  | (121,310) |  | — |  | — |  | — |  | (121,310)
Operating income (loss) |  | $1,076,870 |  | $498,397 |  | $223,388 |  | $(11,498) |  | 1,787,157
Other expenses: |  |  |  |  |  |  |  |  |  |
Investment gain, net |  |  |  |  |  |  |  |  |  | 239
Other income, net |  |  |  |  |  |  |  |  |  | 13,722
Interest expense, net |  |  |  |  |  |  |  |  |  | 383,043
Loss on extinguishment of debt |  |  |  |  |  |  |  | 5,040
Total other expenses |  |  |  |  |  |  |  |  |  | 402,044
Income before income taxes |  |  |  |  |  |  |  |  |  | $1,385,113
|  | Year ended December 31, 2024
|  | Vehicle Payments |  | Corporate Payments |  | Lodging Payments |  | Other |  | Total
Other segment disclosures: |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $117,410 |  | $32,587 |  | $19,622 |  | $5,557 |  | $175,176
Long-lived assets (excluding goodwill and investments) |  | $258,942 |  | $67,379 |  | $35,105 |  | $16,279 |  | $377,705
|  | Year Ended December 31, 2023 3
|  | Vehicle Payments 2 |  | Corporate Payments |  | Lodging Payments |  | Other |  | Total
Revenues, net |  | $2,005,510 |  | $981,127 |  | $520,216 |  | $250,866 |  | $3,757,719
Expenses: |  |  |  |  |  |  |  |  |  |
Processing |  | 377,603 |  | 212,144 |  | 117,203 |  | 112,958 |  | 819,908
Selling |  | 167,614 |  | 137,512 |  | 24,597 |  | 10,435 |  | 340,157
General and administrative |  | 314,892 |  | 170,075 |  | 77,219 |  | 41,237 |  | 603,424
Depreciation |  | 69,886 |  | 22,356 |  | 11,070 |  | 6,671 |  | 109,983
Amortization |  | 132,019 |  | 56,323 |  | 35,833 |  | 2,446 |  | 226,621
Other operating, net |  | 98 |  | 629 |  | 25 |  | 1 |  | 753
Operating income |  | $943,399 |  | $382,085 |  | $254,270 |  | $77,119 |  | 1,656,873
Other expenses (income): |  |  |  |  |  |  |  |  |  |
Investment gain, net |  |  |  |  |  |  |  |  |  | (116)
Other income, net |  |  |  |  |  |  |  |  |  | (16,623)
Interest expense, net |  |  |  |  |  |  |  |  |  | 348,607
Loss on extinguishment of debt |  |  |  |  |  |  |  | —
Total other expenses |  |  |  |  |  |  |  |  |  | 331,868
Income before income taxes |  |  |  |  |  |  |  |  |  | $1,325,005
|  | Year ended December 31, 2023
|  | Vehicle Payments |  | Corporate Payments |  | Lodging Payments |  | Other |  | Total
Other segment disclosures: |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $108,592 |  | $25,387 |  | $13,705 |  | $6,138 |  | $153,822
Long-lived assets (excluding goodwill and investments) |  | $252,499 |  | $48,822 |  | $24,697 |  | $17,136 |  | $343,154
|  | Year Ended December 31, 2022 3
|  | Vehicle Payments 2 |  | Corporate Payments |  | Lodging Payments |  | Other |  | Total
Revenues, net |  | $1,950,038 |  | $769,571 |  | $456,511 |  | $251,009 |  | $3,427,129
Expenses: |  |  |  |  |  |  |  |  |  |
Processing |  | 361,695 |  | 179,339 |  | 103,615 |  | 120,058 |  | 764,707
Selling |  | 174,230 |  | 104,359 |  | 19,711 |  | 10,782 |  | 309,082
General and administrative |  | 330,899 |  | 139,690 |  | 72,180 |  | 41,366 |  | 584,135
Depreciation |  | 62,930 |  | 14,987 |  | 7,968 |  | 6,125 |  | 92,010
Amortization |  | 135,565 |  | 57,599 |  | 34,398 |  | 2,710 |  | 230,272
Other operating, net |  | 226 |  | 35 |  | 2 |  | 19 |  | 282
Operating income |  | $884,493 |  | $273,562 |  | $218,637 |  | $69,949 |  | 1,446,641
Other expenses: |  |  |  |  |  |  |  |  |  |
Investment loss, net |  |  |  |  |  |  |  |  |  | 1,382
Other expense, net |  |  |  |  |  |  |  |  |  | 3,003
Interest expense, net |  |  |  |  |  |  |  |  |  | 164,662
Loss on extinguishment of debt |  |  |  |  |  |  |  | 1,934
Total other expenses |  |  |  |  |  |  |  |  |  | 170,981
Income before income taxes |  |  |  |  |  |  |  |  |  | $1,275,660
|  | Year ended December 31, 2022
|  | Vehicle Payments |  | Corporate Payments |  | Lodging Payments |  | Other |  | Total
Other segment disclosures: |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $111,661 |  | $20,777 |  | $10,570 |  | $8,420 |  | $151,428
Long-lived assets (excluding goodwill and investments) |  | $218,680 |  | $39,240 |  | $17,884 |  | $18,888 |  | $294,692
*Columns may not calculate due to rounding. Other includes our Gift and Payroll card operating segments. 1 Results from Zapay acquired in the first quarter of 2024 are reported in the Vehicle Payments segment from the date of acquisition. Results from Paymerang acquired in the third quarter of 2024 are reported in the Corporate Payments segment from the date of acquisition. Results from GPS Capital Markets acquired in the fourth quarter of 2024 are included in the Corporate Payments segment from the date of acquisition. 2 Results of our merchant solutions business disposed of in December 2024 are included in the Vehicle Payments segment for all periods prior to disposition. 3 Results of the Company's Russian business disposed of in August 2023 are included in the Vehicle Payments segment for all periods prior to disposition.
Schedule of Long-Lived Assets by Geographical Area | The following table presents the Company's long-lived assets by major geography (excluding goodwill, other intangible assets and investments) at December 31 (in thousands):
|  | 2024 |  | 2023
Long-lived assets (excluding goodwill, other intangible assets and investments): |  |  |  |
United States (country of domicile) |  | $228,233 |  | $200,918
Brazil |  | $64,912 |  | $74,789
United Kingdom |  | $46,174 |  | $34,242

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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