XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.25.1

Summary of Significant Accounting Policies (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Accounting Policies [Abstract] |
Schedule of Foreign Exchange Gains (Losses) | The Company recognized foreign exchange losses, which are recorded within Other expense, net in the Unaudited Consolidated Statements of Income, for the three months ended March 31, 2025 and 2024 as follows (in millions):
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Foreign exchange losses | $ | 3.8 |  |  | $ | 3.1 |  |  |  |  |
Schedule of Foreign Currency Losses on Long-Term Intra-entity Transactions | The Company recorded foreign currency losses and gains on long-term intra-entity transactions included as a component of foreign currency translation (gains) losses, net of tax, in the Unaudited Consolidated Statements of Comprehensive Income for the three months ended March 31, 2025 and 2024 as follows (in millions):
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Foreign currency losses on long-term intra-entity transactions | $ | 27.7 |  |  | $ | 12.4 |  |  |  |  |
Schedule of Cash and Cash Equivalents | The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Consolidated Balance Sheets to amounts within the Unaudited Consolidated Statements of Cash Flows (in thousands).
| March 31, 2025 |  | December 31, 2024 |  | March 31, 2024 |  | December 31, 2023
Cash and cash equivalents | $ | 1,554,835 |  |  | $ | 1,553,642 |  |  | $ | 1,311,949 |  |  | $ | 1,389,648 |
Restricted cash | 2,828,588 |  |  | 2,902,703 |  |  | 1,890,727 |  |  | 1,751,887 |
Total cash and cash equivalents and restricted cash | $ | 4,383,423 |  |  | $ | 4,456,345 |  |  | $ | 3,202,676 |  |  | $ | 3,141,535 |
Restrictions on Cash and Cash Equivalents | The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the Consolidated Balance Sheets to amounts within the Unaudited Consolidated Statements of Cash Flows (in thousands).
| March 31, 2025 |  | December 31, 2024 |  | March 31, 2024 |  | December 31, 2023
Cash and cash equivalents | $ | 1,554,835 |  |  | $ | 1,553,642 |  |  | $ | 1,311,949 |  |  | $ | 1,389,648 |
Restricted cash | 2,828,588 |  |  | 2,902,703 |  |  | 1,890,727 |  |  | 1,751,887 |
Total cash and cash equivalents and restricted cash | $ | 4,383,423 |  |  | $ | 4,456,345 |  |  | $ | 3,202,676 |  |  | $ | 3,141,535 |
Disaggregation of Revenue | Revenues, net by segment for the three months ended March 31, 2025 and 2024 was as follows (in millions, except percentages):
Revenues, net by Segment* | Three Months Ended March 31, |  |
| 2025 |  | % |  | 2024 |  | % |  |  |  |  |  |  |  |
Vehicle Payments | $ | 487.1 |  |  | 48 | % |  | $ | 494.1 |  |  | 53 | % |  |  |  |  |  |  |  |
Corporate Payments | 352.7 |  |  | 35 | % |  | 265.4 |  |  | 28 | % |  |  |  |  |  |  |  |
Lodging Payments | 110.2 |  |  | 11 | % |  | 111.3 |  |  | 12 | % |  |  |  |  |  |  |  |
Other | 55.7 |  |  | 6 | % |  | 64.5 |  |  | 7 | % |  |  |  |  |  |  |  |
Consolidated revenues, net | $ | 1,005.7 |  |  | 100 | % |  | $ | 935.3 |  |  | 100 | % |  |  |  |  |  |  |  |
*Columns may not calculate due to rounding.
Revenue from External Customers by Geographic Areas | Revenue by geography for the three months ended March 31, 2025 and 2024 was as follows (in millions, except percentages):
Revenues, net by Geography* | Three Months Ended March 31, |  |
| 2025 |  | % |  | 2024 |  | % |  |  |  |  |  |  |  |
United States | $ | 507.2 |  |  | 50 | % |  | $ | 481.7 |  |  | 52 | % |  |  |  |  |  |  |  |
Brazil | 162.6 |  |  | 16 | % |  | 148.8 |  |  | 16 | % |  |  |  |  |  |  |  |
United Kingdom | 146.0 |  |  | 15 | % |  | 128.9 |  |  | 14 | % |  |  |  |  |  |  |  |
Other | 189.9 |  |  | 19 | % |  | 175.8 |  |  | 19 | % |  |  |  |  |  |  |  |
Consolidated revenues, net | $ | 1,005.7 |  |  | 100 | % |  | $ | 935.3 |  |  | 100 | % |  |  |  |  |  |  |  |
*Columns may not calculate due to rounding. Disclosure has been conformed in all periods to align with current presentation, which is based on the geographic location of the legal entity.
Schedule of Derivative Assets at Fair Value | The following table presents the Company’s spot trade assets and liabilities at their fair value at March 31, 2025 and December 31, 2024 (in millions):
| March 31, 2025 |  | December 31, 2024
| Gross |  | Offset on the Balance Sheet |  | Net |  | Gross |  | Offset on the Balance Sheet |  | Net
Assets |  |  |  |  |  |  |  |  |  |  |
Accounts Receivable | $ | 3,832.0 |  |  | $ | (3,630.2) |  |  | $ | 201.8 |  |  | $ | 2,305.6 |  |  | $ | (2,131.8) |  |  | $ | 173.8 |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Accounts Payable | $ | 3,756.8 |  |  | $ | (3,630.2) |  |  | $ | 126.6 |  |  | $ | 2,218.3 |  |  | $ | (2,131.8) |  |  | $ | 86.5 |
The following table presents the fair value of the Company’s derivative assets and liabilities, as well as their classification on the accompanying Consolidated Balance Sheets, as of March 31, 2025 and December 31, 2024 (in millions):
|  |  | March 31, 2025 |  | December 31, 2024
| Balance Sheet Classification |  | Fair Value
Derivative Assets | Prepaid expenses and other current assets |  | $ | 464.2 |  |  | $ | 630.2 |
Derivative Assets | Other assets |  | $ | 167.6 |  |  | $ | 203.5 |
Derivative Liabilities | Other current liabilities |  | $ | 374.1 |  |  | $ | 538.6 |
Derivative Liabilities | Other noncurrent liabilities |  | $ | 158.7 |  |  | $ | 185.7 |

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of interest income and income classified as other. + References No definition available. + Details
Name: | us-gaap_InterestAndOtherIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of cash and cash equivalents. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative assets at fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDerivativeAssetsAtFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-term intra-entity foreign currency adjustment, including, but not limited to, translation of underlying foreign currency and intra-entity foreign currency transaction that is considered to be long-term investment with settlement not planned or anticipated in foreseeable future. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfIntercompanyForeignCurrencyBalancesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cash and cash equivalents restricted as to withdrawal or usage. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(1)(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 8 -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-8 + Details
Name: | us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration