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Subsequent Events
9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Asset Divestiture
In July 2025, the Company announced the divestiture of one of its legacy lower growth private label fuel card portfolios for approximately $60 million. Revenues generated from the portfolio are included in the Company's Vehicle Payments segment. The transaction closed during October 2025.
Debt Arrangements
Amendment to Securitization Facility
On November 3, 2025, the Company entered into the Sixth Amended and Restated Receivables Purchase Agreement to its Securitization Facility. The amendment, among other things, (i) increased the Securitization Facility commitment from $1.8 billion to $2.3 billion, (ii) extended the maturity of the Securitization Facility to November 3, 2028, (iii) added three UK-based originators and (iv) lowered the program pricing by 9 basis points.
Amendment to Credit Agreement
On November 5, 2025, the Company entered into the seventeenth amendment to the Credit Agreement. The amendment, among other things, (i) increases the aggregate commitments under the revolving credit facility by $1 billion to new total Revolver B commitments of $1.5 billion, and (ii) adds a new seven-year Term Loan B of $900 million. The Company used the Term Loan B and revolving credit facility proceeds to fund the Alpha acquisition.
The new Term Loan B has a maturity date of November 5, 2032. Interest on amounts outstanding under the new Term Loan B accrues based on the Secured Overnight Financing Rate plus a margin of 1.75%. The maturity dates and the interest rates for the Company's revolving credit facility, Term Loan A commitments and existing Term Loan B commitments were unchanged by this amendment.