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REVENUES | 12 Months Ended
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Dec. 31, 2020
Revenue from Contract with Customer [Abstract] |
REVENUES | REVENUES The following tables present a disaggregation of our revenues from contracts with customers by geography for each of our reportable segments for the years ended December 31, 2020, 2019 and 2018:
| Year Ended December 31, 2020
| Merchant Solutions |  | Issuer Solutions |  | Business and Consumer Solutions |  | Intersegment Revenues |  | Total
| (in thousands)
Americas | $ | 3,948,642 |  |  | $ | 1,525,122 |  |  | $ | 825,564 |  |  | $ | (65,991) |  |  | $ | 6,233,337 |
Europe | 539,839 |  |  | 446,587 |  |  | 3,941 |  |  | — |  |  | 990,367 |
Asia Pacific | 199,854 |  |  | 9,726 |  |  | — |  |  | (9,726) |  |  | 199,854 |
| $ | 4,688,335 |  |  | $ | 1,981,435 |  |  | $ | 829,505 |  |  | $ | (75,717) |  |  | $ | 7,423,558 |
| 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, 2020, 2019 and 2018:
| 2020 |  | 2019 |  | 2018
| (in thousands)
Relationship-led | $ | 2,600,440 |  |  | $ | 2,218,559 |  |  | $ | 1,821,629 |
Technology-enabled | 2,087,895 |  |  | 1,880,021 |  |  | 1,523,552 |
| $ | 4,688,335 |  |  | $ | 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, 2020, 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, 2020 and 2019 was as follows:
| Balance Sheet Location |  | December 31, 2020 |  | December 31, 2019
|  |  | (in thousands)
Assets: |  |  |  |  |
Capitalized costs to obtain customer contracts, net | Other noncurrent assets |  | $ | 253,780 |  |  | $ | 226,945 |
Capitalized costs to fulfill customer contracts, net | Other noncurrent assets |  | 81,371 |  |  | 38,150 |
Liabilities: |  |  |  |  |
Contract liabilities, net (current) | Accounts payable and accrued liabilities |  | 217,938 |  |  | 193,405 |
Contract liabilities, net (noncurrent) | Other noncurrent liabilities |  | 52,944 |  |  | 35,272 |
Net contract assets were not material at December 31, 2020 or December 31, 2019. Revenue recognized for the year ended December 31, 2020 and 2019 from contract liability balances at the beginning of each period was $182.3 million and $137.2 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 December 31, 2020. However, as permitted, 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 (in thousands):
Year ending December 31, |
2021 | $ | 926,809 |
2022 | 753,523 |
2023 | 537,829 |
2024 | 360,762 |
2025 | 270,376 |
2026 and thereafter | 523,056 |
Total | $ | 3,372,355 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
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