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Segments (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following table presents a disaggregation of the Company’s consolidated net income:

			Three Months Ended September 30,												Nine Months Ended September 30,
(in millions)			2025						2024						2025						2024
Payments-based revenue			$	1,058.0					$	806.8					$	2,682.2					$	2,217.7
Subscription and other revenues			118.9						102.4						309.2						225.9
Network fees*			(587.7)						(544.1)						(1,620.3)						(1,494.2)
Other costs of sales* (exclusive of depreciation of equipment under lease)			(160.2)						(97.8)						(392.6)						(262.5)
General and administrative expenses:
Employee and other general and administrative expenses*			(158.5)						(98.0)						(385.6)						(267.5)
Equity-based compensation*			(15.9)						(14.4)						(58.4)						(52.1)
Rent, office, occupancy and equipment expenses*			(14.0)						(5.8)						(28.8)						(15.8)
Revaluation of contingent liabilities			2.8						(1.5)						7.4						(3.9)
Depreciation and amortization expense* (a)			(85.8)						(51.6)						(199.4)						(143.1)
Professional expenses*			(35.3)						(9.4)						(69.1)						(29.0)
Advertising and marketing expenses*			(7.7)						(6.2)						(21.5)						(14.5)
Loss on extinguishment of debt			(9.2)						—						(12.3)						—
Interest income			17.5						9.7						49.1						20.1
Other income (expense), net			(1.4)						(1.5)						(5.6)						0.3
Gain on investments in securities			—						10.8						—						21.6
Change in TRA liability			(0.2)						(289.4)						2.0						(294.2)
Interest expense*			(60.8)						(18.3)						(128.7)						(34.5)
Income tax benefit (expense)*			(27.1)						280.5						(33.6)						280.9
Net income			$	33.4					$	72.2					$	94.0					$	155.2

*    Denotes a significant segment expense reviewed by the CODM.

(a)Depreciation and amortization expense includes depreciation of equipment under lease of $19.4 million and $53.1 million for the three and nine months ended September 30, 2025, respectively, and $14.1 million and $39.0 million for the three and nine months ended September 30, 2024, respectively.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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