REVENUES

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

The disclosures in this note arose from our adoption of ASC 606 on January 1, 2018 and are applicable for the years ended December 31, 2019 and 2018.

The following tables present a disaggregation of our revenues from contracts with customers by geography for each of our reportable segments:



	Year Ended December 31, 2019
	Merchant Solutions		Issuer Solutions		Business and Consumer Solutions		Intersegment Revenues			Total

	(in thousands)

Americas	$	3,240,233	$	458,289	$	227,440	$	(18,782	)	$	3,907,180
Europe	614,747		146,365		—		—			761,112
Asia Pacific	243,600		—		—		—			243,600
	$	4,098,580	$	604,654	$	227,440	$	(18,782	)	$	4,911,892



	Year Ended December 31, 2018
	Merchant Solutions		Issuer Solutions		Business and Consumer Solutions		Intersegment Revenues		Total

	(in thousands)

Americas	$	2,522,285	$	—	$	—	$	—	$	2,522,285
Europe	589,744		21,185		—		—		610,929
Asia Pacific	233,152		—		—		—		233,152
	$	3,345,181	$	21,185	$	—	$	—	$	3,366,366

The following table presents a disaggregation of our Merchant Solutions segment revenues by distribution channel for the years ended December 31, 2019 and 2018:



	2019		2018

	(in thousands)

Direct:
Relationship-led	$	2,218,559	$	1,821,629
Technology-enabled	1,880,021		1,523,552
	$	4,098,580	$	3,345,181

ASC 606 requires that we determine for each customer arrangement whether revenues should be recognized at a point in time or over time. For the years ended December 31, 2019 and 2018 substantially all of our revenues were recognized over time.

Supplemental balance sheet information related to contracts from customers as of December 31, 2019 and 2018 was as follows:



	Balance Sheet Location	December 31, 2019		December 31, 2018

		(in thousands)

Assets:
Capitalized costs to obtain customer contracts, net	Other noncurrent assets	$	226,945	$	194,616
Capitalized costs to fulfill customer contracts, net	Other noncurrent assets	38,150		12,954

Liabilities:
Contract liabilities, net (current)	Accounts payable and accrued liabilities	193,405		146,947
Contract liabilities, net (noncurrent)	Other noncurrent liabilities	35,272		8,595

The increase in contract liabilities during the year ended December 31, 2019 was primarily attributable to contract liabilities assumed in the Merger. Net contract assets were not material at December 31, 2019 or December 31, 2018. Revenue recognized for the year ended December 31, 2019 and 2018 from contract liability balances at the beginning of each period was $137.2 million and $97.3 million, respectively.

ASC 606 requires disclosure of the aggregate amount of the transaction price allocated to unsatisfied performance obligations. The purpose of this disclosure is to provide additional information about the amounts and expected timing of revenue to be recognized from the remaining performance obligations in our existing contracts. The following table includes estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period. However, as permitted by ASC 606, we have elected to exclude from this disclosure any contracts with an original duration of one year or less and any variable consideration that meets specified criteria. Accordingly, the total unsatisfied or partially unsatisfied performance obligations related to processing services is significantly higher than the amounts disclosed in table below. Estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at December 31, 2019 were as follows (in thousands):



Years ending December 31,
2020	$	883,415
2021	746,773
2022	552,741
2023	332,602
2024	176,181
2025-2029	267,368
Total	$	2,959,080