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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Our segment structure reflects the financial information and reports used by our chief operating decision maker (“CODM”) to make decisions regarding the business, including resource allocations and performance assessments. Our Chief Executive Officer is the CODM. The CODM uses segment operating income in the annual budget and forecasting process and considers budget-to-actual and forecast-to-actual variances on a monthly, quarterly and annual basis. The CODM does not evaluate the performance of or allocate resources to our operating segment using asset data.

Prior to the completion of the Worldpay Acquisition, we operated in one reportable segment, Merchant Solutions, and certain operating overhead, shared costs and share-based compensation costs were included in Corporate, separate from our measure of segment profitability. As of March 31, 2026 we were still in the process of modifying the design of our operating structure to combine the operations of the acquired Worldpay business with our existing Merchant Solutions business. Once this process is complete, we will finalize our segment reporting structure based on how our CODM assesses performance and allocates resources. As a result, we have reported Corporate and the results of operations of Worldpay from the acquisition date to March 31, 2026 within our Merchant Solutions reportable segment. We will report financial information for our new reportable segments, including prior periods, beginning in the period in which our CODM begins managing the business on the basis of the new structure.

The operating income of our reportable segment includes the revenues of the segment less expenses that are directly related to those revenues and corporate costs. Impairment of goodwill and gains or losses on business dispositions are not included in determining segment operating income. Interest and other income, interest and other expense, income tax expense and equity in income of equity method investments are not allocated to the reportable segment. The accounting policies of the reportable operating segment are the same as those described in our Annual Report on Form 10-K for the year ended December 31, 2025, and our summary of significant accounting policies in "Note 1—Basis of Presentation and Summary of Significant Accounting Policies."
Information on our Merchant Solutions segment, including significant segment expenses, and a reconciliation to consolidated operating income (loss) was as follows for the three months ended March 31, 2026 and 2025:
Three Months Ended
March 31, 2026March 31, 2025
(in thousands)
Revenues(1)
$2,969,682 $1,820,318 
Operating expenses(1):
Cost of service$1,273,614 $495,175 
Selling, general and administrative1,711,714 957,177 
Operating income (loss)(1):
Merchant Solutions$(15,646)$367,966 
Gain on business disposition— 3,993 
Consolidated operating income (loss)$(15,646)$371,959 
Depreciation and amortization(1)
$864,757 $292,587 

(1) Revenues, operating expenses, operating income (loss) and depreciation and amortization reflect the effects of acquired businesses, including the Worldpay Acquisition, from the respective acquisition dates. See “Note 2—Acquisition” for further discussion.
Operating income (loss) and operating expenses included acquisition, transformation, and transaction expenses of $387.3 million and $94.7 million for the three months ended March 31, 2026 and 2025, respectively, which were primarily included within selling, general and administrative expenses.