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Segment Information
12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Information
25.Segment Information
    The Company determines its operating segments and reports segment information in accordance with how the Company’s chief operating decision maker (“CODM”) allocates resources and assesses performance. The Company’s CODM is its Chief Executive Officer. The operating segments are aggregated into the three reportable segments described below.    
Fleet Solutions provides customers with payment and transaction processing services specifically designed for the needs of commercial and government fleets. This segment also provides information management services to these fleet customers.
Travel and Corporate Solutions focuses on the complex payment environment of B2B payments, providing customers with payment processing solutions for their corporate payment and transaction monitoring needs.
Health and Employee Benefit Solutions provides healthcare payment products and SaaS consumer directed platforms. Prior to the sale of WEX Latin America, this operating segment additionally provided payroll related benefits to customers.
    The following tables present the Company’s reportable segment revenues:
Year Ended December 31, 2020
(In thousands)Fleet SolutionsTravel and Corporate SolutionsHealth and Employee Benefit SolutionsTotal
Payment processing revenue$404,843 $229,144 $64,904 $698,891 
Account servicing revenue153,823 41,927 253,706 449,456 
Finance fee revenue197,307 1,079 137 198,523 
Other revenue162,337 5,690 44,972 212,999 
Total revenues$918,310 $277,840 $363,719 $1,559,869 
Interest income$4,326 $272 $1,252 $5,850 
Year Ended December 31, 2019
(In thousands)Fleet SolutionsTravel and
Corporate Solutions
Health and
Employee Benefit Solutions
Total
Payment processing revenue$457,244 $303,385 $64,963 $825,592 
Account servicing revenue164,735 43,293 205,524 413,552 
Finance fee revenue245,082 2,086 150 247,318 
Other revenue171,334 19,062 46,833 237,229 
Total revenues$1,038,395 $367,826 $317,470 $1,723,691 
Interest income$6,249 $1,521 $1,534 $9,304 
Year Ended December 31, 2018
(In thousands)Fleet SolutionsTravel and
Corporate Solutions
Health and
Employee Benefit Solutions
Total
Payment processing revenue$464,980 $203,289 $55,722 $723,991 
Account servicing revenue162,662 37,262 108,172 308,096 
Finance fee revenue190,528 1,391 16,708 208,627 
Other revenue156,970 61,402 33,553 251,925 
Total revenues$975,140 $303,344 $214,155 $1,492,639 
Interest income$3,503 $958 $11,706 $16,167 
    
No one customer accounted for more than 10 percent of the total consolidated revenue in 2020, 2019 or 2018.    
    The CODM evaluates the financial performance of each segment using segment adjusted operating income, which excludes: (i) unallocated corporate expenses; (ii) acquisition and divestiture related items (including acquisition-related intangible amortization); (iii) legal settlement; (iv) impairment charges; (v) loss on sale of subsidiary; (vi) debt restructuring costs; (vii) stock-based compensation; and (viii) other costs. Additionally, we do not allocate foreign currency gains and losses, financing interest expense, unrealized and realized gains and losses on financial instruments and non-cash adjustments related to the tax receivable agreement to our operating segments.
    The following table reconciles total segment adjusted operating income to (loss) income before income taxes:
  
Year ended December 31,
(In thousands)202020192018
Segment adjusted operating income
Fleet Solutions$383,502 $485,539 $459,646 
Travel and Corporate Solutions62,096 168,786 135,379 
Health and Employee Benefit Solutions96,769 80,283 44,931 
Total segment adjusted operating income$542,367 $734,608 $639,956 
Reconciliation:
Total segment adjusted operating income$542,367 $734,608 $639,956 
Less:
Unallocated corporate expenses62,938 67,982 58,095 
Acquisition-related intangible amortization171,144 159,431 138,186 
Other acquisition and divestiture related items57,787 37,675 4,143 
Legal settlement162,500 — — 
Impairment charges53,378 — 5,649 
Loss on sale of subsidiary46,362 — — 
Debt restructuring costs535 11,062 4,425 
Stock-based compensation65,841 47,511 35,103 
Other costs13,555 25,106 13,717 
Operating (loss) income$(91,673)$385,841 $380,638 
Financing interest expense(157,080)(134,677)(105,023)
Net foreign currency loss(25,783)(926)(38,800)
Non-cash adjustments related to tax receivable agreement491 932 (775)
Net unrealized (loss) gain on financial instruments(27,036)(34,654)2,579 
(Loss) income before income taxes$(301,081)$216,516 $238,619 
    Assets are not allocated to the segments for internal reporting purposes.
Geographic Data
    Revenue by principal geographic area, based on the country in which the sale originated, was as follows:
  
Year ended December 31,
(In thousands)202020192018
United States$1,401,144 $1,535,985 $1,287,405 
Other international1
158,725 187,706 205,234 
Total revenues$1,559,869 $1,723,691 $1,492,639 
1 No single country within made up more than 5 percent of total revenues for any of the years presented.
    Net property, equipment and capitalized software is subject to geographic risks because it is generally difficult to move and relatively illiquid. Net property, equipment and capitalized software by principal geographic area was as follows:
Year ended December 31,
(In thousands)202020192018
United States$176,348 $200,101 $176,111 
International1
11,992 12,374 11,757 
Net property, equipment and capitalized software$188,340 $212,475 $187,868 
1 No single country within made up more than 5 percent of total net property, equipment and capitalized software for any of the years presented.