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Segments (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Company's Segment Results

The Company’s segment results are as follows for the three month periods ended March 31, 2025 and 2024 (in thousands)*:

						Three Months Ended March 31, 20251
						Vehicle Payments2						Corporate Payments						Lodging Payments						Other						Total
Revenues, net						$	487,110					$	352,659					$	110,224					$	55,674					$	1,005,667
Expenses:
Processing						89,750						77,572						29,978						24,544						221,844
Selling						45,900						51,955						7,460						2,242						107,557
General and administrative						73,964						57,067						16,667						9,261						156,959
Depreciation						16,898						6,345						3,726						1,428						28,397
Amortization						30,377						23,814						9,098						502						63,791
Other operating, net						(5)						—						—						—						(5)
Operating income						$	230,226					$	135,906					$	43,295					$	17,697					427,124
Other expenses:
Other expense, net																														4,095
Interest expense, net																														93,922
Loss on early extinguishment of debt																														1,596
Total other expenses																														99,613
Income before income taxes																														$	327,511

						Three Months Ended March 31, 2025
						Vehicle Payments						Corporate Payments						Lodging Payments						Other						Total
Other segment disclosures3:
Capital expenditures						$	30,678					$	7,580					$	4,729					$	1,784					$	44,771
Long-lived assets (excluding goodwill and investments)						$	275,576					$	71,733					$	37,266					$	16,948					$	401,523

						Three Months Ended March 31, 20242
						Vehicle Payments2						Corporate Payments						Lodging Payments						Other						Total
Revenues, net						$	494,061					$	265,396					$	111,295					$	64,499					$	935,251
Expenses:
Processing						94,053						55,369						29,181						28,808						207,411
Selling						42,987						41,849						6,167						3,185						94,188
General and administrative						80,909						42,488						17,025						10,840						151,262
Depreciation						17,712						6,937						2,837						1,445						28,931
Amortization						32,609						13,866						8,793						561						55,829
Other operating, net						96						176						16						4						292
Operating income						$	225,695					$	104,711					$	47,276					$	19,656					397,338
Other expenses:
Other expense, net																														2,960
Interest expense, net																														89,088
Total other expenses																														92,048
Income before income taxes																														$	305,290

						Three Months Ended March 31, 2024
						Vehicle Payments						Corporate Payments						Lodging Payments						Other						Total
Other segment disclosures3:
Capital expenditures						$	28,195					$	7,276					$	4,826					$	896					$	41,193
Long-lived assets (excluding goodwill and investments)						$	251,879					$	57,974					$	27,559					$	14,419					$	351,831

*Columns may not calculate due to rounding. Other includes our Gift and Payroll card operating segments.

1 Results from Gringo acquired in the first quarter of 2025 are reported in the Vehicle Payments segment from the date of acquisition.

2 Results from Zapay acquired in the first quarter of 2024 are reported in the Vehicle Payments segment from the date of acquisition.

3 Total assets for each reportable segment are not presented as the CODM does not evaluate performance or allocate resources based on segment assets.

X

- 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

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- References

No definition available.

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