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Revenues (Tables) | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following tables disaggregate the Company’s consolidated revenues, substantially all of which relate to services transferred to the customer over time:
| Three Months Ended June 30, 2024
(in millions) | Mobility |  | Corporate Payments |  | Benefits |  | Total
Topic 606 revenues |  |  |  |  |  |  |
Payment processing revenue | $ | 177.2 |  |  | $ | 116.2 |  |  | $ | 24.9 |  |  | $ | 318.4 |
Account servicing revenue | 9.5 |  |  | 10.3 |  |  | 108.4 |  |  | 128.3 |
Other revenue | 26.3 |  |  | — |  |  | 5.6 |  |  | 31.9 |
Total Topic 606 revenues | $ | 213.0 |  |  | $ | 126.6 |  |  | $ | 138.9 |  |  | $ | 478.6 |
Non-Topic 606 revenues | 146.5 |  |  | 7.5 |  |  | 40.8 |  |  | 194.9 |
Total revenues | $ | 359.6 |  |  | $ | 134.1 |  |  | $ | 179.8 |  |  | $ | 673.5 |
| Three Months Ended June 30, 2023
(in millions) | Mobility |  | Corporate Payments |  | Benefits |  | Total
Topic 606 revenues |  |  |  |  |  |  |
Payment processing revenue | $ | 172.2 |  |  | $ | 104.7 |  |  | $ | 23.6 |  |  | $ | 300.5 |
Account servicing revenue | 4.5 |  |  | 10.6 |  |  | 101.5 |  |  | 116.6 |
Other revenue | 21.2 |  |  | — |  |  | 6.2 |  |  | 27.4 |
Total Topic 606 revenues | $ | 197.9 |  |  | $ | 115.3 |  |  | $ | 131.3 |  |  | $ | 444.5 |
Non-Topic 606 revenues | 142.2 |  |  | 6.6 |  |  | 27.9 |  |  | 176.7 |
Total revenues | $ | 340.2 |  |  | $ | 121.9 |  |  | $ | 159.2 |  |  | $ | 621.3 |
| Six Months Ended June 30, 2024
(In millions) | Mobility |  | Corporate Payments |  | Benefits |  | Total
Topic 606 revenues |  |  |  |  |  |  |
Payment processing revenue | $ | 347.9 |  |  | $ | 219.4 |  |  | $ | 53.1 |  |  | $ | 620.4 |
Account servicing revenue | 18.7 |  |  | 20.3 |  |  | 225.4 |  |  | 264.4 |
Other revenue | 49.8 |  |  | — |  |  | 13.3 |  |  | 63.2 |
Total Topic 606 revenues | $ | 416.4 |  |  | $ | 239.7 |  |  | $ | 291.8 |  |  | $ | 948.0 |
Non-Topic 606 revenues | 282.1 |  |  | 16.9 |  |  | 79.2 |  |  | 378.1 |
Total revenues | $ | 698.5 |  |  | $ | 256.6 |  |  | $ | 371.0 |  |  | $ | 1,326.1 |
| Six Months Ended June 30, 2023
(In millions) | Mobility |  | Corporate Payments |  | Benefits |  | Total
Topic 606 revenues |  |  |  |  |  |  |
Payment processing revenue | $ | 343.7 |  |  | $ | 194.8 |  |  | $ | 50.1 |  |  | $ | 588.6 |
Account servicing revenue | 8.9 |  |  | 21.2 |  |  | 211.3 |  |  | $ | 241.4 |
Other revenue | 44.5 |  |  | — |  |  | 14.0 |  |  | 58.5 |
Total Topic 606 revenues | $ | 397.1 |  |  | $ | 216.0 |  |  | $ | 275.4 |  |  | $ | 888.5 |
Non-Topic 606 revenues | 285.4 |  |  | 10.7 |  |  | 48.7 |  |  | 344.8 |
Total revenues | $ | 682.5 |  |  | $ | 226.7 |  |  | $ | 324.1 |  |  | $ | 1,233.3 |
Schedule of Contract Assets and Liabilities | The following table provides information about these contract balances:
(in millions) |  |  |  |  |  |
Contract balance |  | Location on the condensed consolidated balance sheets |  | June 30, 2024 |  | December 31, 2023
Receivables |  | Accounts receivable, net |  | $ | 56.7 |  |  | $ | 59.1 |
Contract assets |  | Prepaid expenses and other current assets |  | 18.6 |  |  | 11.5 |
Contract assets |  | Other assets |  | 29.0 |  |  | 33.1 |
Contract liabilities |  | Accrued expenses and other current liabilities |  | 26.7 |  |  | 12.4 |
Contract liabilities |  | Other liabilities |  | 64.3 |  |  | 83.0 |
Schedule of Remaining Performance Obligations | The following table includes revenue expected to be recognized related to remaining performance obligations at the end of the indicated reporting period.
(in millions) | Remaining 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Minimum monthly fees 1 | $ | 29.7 |  |  | $ | 28.3 |  |  | $ | 11.9 |  |  | $ | 6.2 |  |  | $ | 4.1 |  |  | $ | 1.5 |  |  | $ | — |  |  | $ | 81.7 |
Other 2 | 15.3 |  |  | 31.7 |  |  | 32.1 |  |  | 27.5 |  |  | 5.9 |  |  | — |  |  | — |  |  | 112.6 |
Total remaining performance obligations | $ | 45.0 |  |  | $ | 60.0 |  |  | $ | 44.0 |  |  | $ | 33.7 |  |  | $ | 10.0 |  |  | $ | 1.5 |  |  | $ | — |  |  | $ | 194.3 |
(1)The transaction price allocated to the remaining performance obligations represents the minimum monthly fees on certain service contracts, which contain substantive termination penalties that require the counterparty to pay the Company for the aggregate remaining minimum monthly fees upon an early termination for convenience. These obligations will be recognized within account servicing revenue. (2)Substantially represents deferred revenue and contractual minimums associated with payment processing service obligations. Consideration associated with certain relationships is variable and the measurement and estimation of contract consideration is contingent upon payment processing volumes and maintaining volume shares, among others.

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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