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Revenue (Tables) | 6 Months Ended
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Jun. 30, 2020
Revenue From Contract With Customer [Abstract] |
Effect of Lease Modifications | Under ASC 606, the Company has three separate performance obligations under its recurring SaaS fees for point-of-sale systems provided to merchants: (1) point-of-sale software, (2) lease of hardware and (3) other support services. For the period January 1, 2019 through June 29, 2020, the hardware provided under the Company’s software as a service, or SaaS, agreements was accounted for as a sales-type lease. Effective June 30, 2020, the Company modified the terms and conditions of its SaaS arrangements and updated its operational procedures. As a result, beginning June 30, 2020, hardware provided under the Company’s SaaS agreements is accounted for as an operating lease; therefore, an increase in income of $12.4 million was recorded within “Other operating (income) expense, net” in the unaudited Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2020 to reflect the impact of the lease modifications. The Company has elected to apply a practical expedient for contracts that have a term of one year or less and has not disclosed either the remaining performance obligation as of the end of the reporting period or when the Company expects to recognize the revenue. The effect of the lease modifications on the unaudited condensed consolidated financial statements as of June 30, 2020 is as follows:
. |  | Balance prior to lease modification |  |  | Balance subsequent to lease modification |  |  | Effect of change |
Contract assets, net |  | $ | 11.3 |  |  | $ | — |  |  | $ | (11.3 | )
Accounts receivable, net |  |  | 67.7 |  |  |  | 68.6 |  |  |  | 0.9 |
Equipment under lease |  |  | - |  |  |  | 23.3 |  |  |  | 23.3 |
Deferred revenue |  |  | 7.7 |  |  |  | 8.2 |  |  |  | (0.5 | )
Other operating (income) expense, net |  |  |  |  |  |  |  |  |  |  | (12.4 | )
Schedule of Disaggregation of Revenue | Based on similar operational characteristics, the Company’s revenue from contracts with customers is disaggregated as follows:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Payments-based revenue |  | $ | 121.2 |  |  | $ | 159.5 |  |  | $ | 297.6 |  |  | $ | 293.5 |
Subscription-based revenue |  |  | 17.5 |  |  |  | 16.3 |  |  |  | 35.1 |  |  |  | 32.7 |
Other revenue |  |  | 3.1 |  |  |  | 4.7 |  |  |  | 8.5 |  |  |  | 9.3 |
Total |  | $ | 141.8 |  |  | $ | 180.5 |  |  | $ | 341.2 |  |  | $ | 335.5 |
Based on similar economic characteristics, the Company’s revenue from contracts with customers is disaggregated as follows:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Over-time revenue |  | $ | 134.7 |  |  | $ | 170.2 |  |  | $ | 323.5 |  |  | $ | 313.8 |
Point-in-time revenue |  |  | 7.1 |  |  |  | 10.3 |  |  |  | 17.7 |  |  |  | 21.7 |
Total |  | $ | 141.8 |  |  | $ | 180.5 |  |  | $ | 341.2 |  |  | $ | 335.5 |
Summary of Annual Service Fees and Regulatory Compliance Fees | The following reflects the amounts the Company recognized as annual service fees and regulatory compliance fees within "Gross revenue" in its unaudited Condensed Consolidated Statements of Operations and the amount of such fees that was included in deferred revenue at the beginning of the respective period.
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Annual service fees and regulatory compliance fees |  | $ | 3.4 |  |  | $ | 2.9 |  |  | $ | 6.8 |  |  | $ | 5.8 |
Amount of these fees included in deferred revenue at beginning of period |  |  | 1.7 |  |  |  | 1.4 |  |  |  | 2.8 |  |  |  | 2.7 |

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