XML 28 R11.htm IDEA: XBRL DOCUMENT v3.20.4
REVENUES
 12 Months Ended
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 SolutionsIssuer SolutionsBusiness and Consumer SolutionsIntersegment RevenuesTotal
(in thousands)
Americas$3,948,642 $1,525,122 $825,564 $(65,991)$6,233,337 
Europe539,839 446,587 3,941 — 990,367 
Asia Pacific199,854 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 SolutionsIssuer SolutionsBusiness and Consumer SolutionsIntersegment RevenuesTotal
(in thousands)
Americas$3,240,233 $458,289 $227,440 $(18,782)$3,907,180 
Europe614,747 146,365 — — 761,112 
Asia Pacific243,600 — — — 243,600 
$4,098,580 $604,654 $227,440 $(18,782)$4,911,892 

Year Ended December 31, 2018
Merchant SolutionsIssuer SolutionsBusiness and Consumer SolutionsIntersegment RevenuesTotal
(in thousands)
Americas$2,522,285 $— $— $— $2,522,285 
Europe589,744 21,185 — — 610,929 
Asia Pacific233,152 — — — 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:
202020192018
(in thousands)
Relationship-led$2,600,440 $2,218,559 $1,821,629 
Technology-enabled2,087,895 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 LocationDecember 31, 2020December 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 assets81,371 38,150 
Liabilities:
Contract liabilities, net (current)
Accounts payable and accrued liabilities
217,938 193,405 
Contract liabilities, net (noncurrent)Other noncurrent liabilities52,944 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 
2022753,523 
2023537,829 
2024360,762 
2025270,376 
2026 and thereafter523,056 
Total$3,372,355