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Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Schedule of Total Purchase Consideration | Total purchase consideration was as follows:
Cash | $ | 92 |
Less: cash acquired (a) | (8) |
Total purchase consideration, net of cash acquired | $ | 84 |
(a) Excludes settlement-related cash of $185 million.
Schedule of Assets Acquired and Liabilities Assumed | The following table summarizes the fair value assigned to the assets acquired and liabilities assumed at the acquisition date. These amounts reflect various preliminary fair value estimates and assumptions, and are subject to change within the measurement period as valuations are finalized. The primary areas of preliminary purchase price allocation subject to change relate to the valuation of goodwill, other intangible assets, deferred tax assets, and deferred tax liabilities.
Settlement assets (a) | $ | 326 |
Accounts receivable | 6 |
Prepaid expenses and other current assets | 1 |
Goodwill (b) | 33 |
Other intangible assets | 67 |
Deferred tax assets | 1 |
Accounts payable | (5) |
Settlement liabilities | (326) |
Accrued expenses and other current liabilities | (1) |
Deferred tax liabilities | (18) |
Net assets acquired | $ | 84 |
(a) Includes settlement-related cash of $185 million, which is included within “Acquisitions, net of cash acquired” on the unaudited Condensed Consolidated Statements of Cash Flows.
(b) Goodwill is not deductible for tax purposes.
The following table provides further detail on other intangible assets acquired:
Merchant relationships | $ | 64 |
Acquired technology | 3 |
Other intangible assets | $ | 67 |
Schedule of Pro Forma Information | The unaudited pro forma financial information is presented for illustrative purposes only, is based on available information and assumptions that the Company believes are reasonable to reflect the impact of the acquisition on the Company’s historical financial information on a supplemental pro forma basis, and is not necessarily indicative of the results of operations that would have actually been reported had the acquisition occurred on January 1, 2025, nor is it necessarily indicative of the future results of operations of the combined company. The timing of transaction costs has been updated to be reflected in the pro forma results for the three months ended March 31, 2025.
| Unaudited
| Three Months Ended March 31,
| 2026 |  | 2025
Revenue | $ | 1,121 |  |  | $ | 982 |
Net income (loss) | $ | 15 |  |  | $ | (34) |

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