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Revenues (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

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 fees1	$	29.7	$	28.3	$	11.9	$	6.2	$	4.1	$	1.5	$	—	$	81.7
Other2	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.