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Segment Information (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Reportable Segment Results

			Three Months Ended March 31, 2026
(in millions)			Mobility						Benefits						Corporate Payment						Total
Payment processing revenue			$	156.8					$	33.0					$	94.4					$	284.2
Account servicing revenue			53.2						114.5						14.8						182.5
Finance fee revenue			79.8						—						0.2						80.1
Other revenue			54.7						68.6						3.6						127.0
Total revenues (revenues from external customers)			$	344.6					$	216.2					$	113.0					$	673.8
Less(1):
Processing costs, adjusted			71.4						64.5						17.8
Service fees			1.8						19.8						2.5
Provision for credit losses			25.6						(0.6)						4.3
Operating interest expense			18.7						1.4						3.6
Sales and marketing expense, adjusted			62.9						13.9						21.3
General and administrative expense, adjusted			24.2						6.5						10.5
Other segment items(2)			15.5						10.4						8.9
Segment adjusted operating income (3)			$	124.5					$	100.2					$	44.1					$	268.8

			Three Months Ended March 31, 2025
(in millions)			Mobility						Benefits						Corporate Payment						Total
Payment processing revenue			$	156.4					$	29.7					$	85.7					$	271.8
Account servicing revenue			49.9						115.9						13.3						179.1
Finance fee revenue			75.2						—						0.4						75.7
Other revenue			52.3						53.6						4.0						110.0
Total revenues (revenues from external customers)			$	333.8					$	199.3					$	103.5					$	636.6
Less(1):
Processing costs, adjusted			71.1						64.4						17.5
Service fees			1.9						20.9						2.9
Provision for credit losses			13.9						(1.0)						3.0
Operating interest expense			18.7						1.2						4.2
Sales and marketing expense, adjusted			56.9						12.6						16.5
General and administrative expense, adjusted			24.9						5.4						10.0
Other segment items(2)			14.9						9.0						8.8
Segment adjusted operating income (3)			$	131.4					$	86.9					$	40.5					$	258.7

​

​

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. Given the increase in both provision for credit losses and operating interest expense, it was determined during the third quarter of 2025 that such expenses are deemed significant for all segments, whereas previously were only considered significant for the Mobility segment. Segment information for previous periods has been recast to conform to the current-period presentation.

(2) Other segment items for the Mobility, Benefits and Corporate Payments reportable segments include depreciation expense for each of the periods presented.

(3) See following table for a reconciliation of segment adjusted operating income to income before income taxes.

			Three Months Ended
(in millions)			Mobility						Benefits						Corporate Payments
March 31, 2026:
Interest income(1)			$	5.0					$	55.9					$	2.7
Operating interest expense			$	18.7					$	1.4					$	3.6
Depreciation(2)			$	15.5					$	10.4					$	8.9
March 31, 2025:
Interest income(1)			$	3.1					$	44.6					$	3.1
Operating interest expense			$	18.7					$	1.2					$	4.2
Depreciation(2)			$	14.9					$	9.0					$	8.8

(1)The amounts of interest income disclosed by reportable segment are included within total revenues in the preceding tables.

(2)The amounts of depreciation disclosed by reportable segment are included within other segment items in the preceding tables. Amounts do not include amortization of intangible assets, as amortization is not included in determining segment adjusted operating income and is not regularly provided to the CODM.

Schedule of Reconciliation Of Segment Adjusted Operating Income To Income Before Income Taxes

The following table reconciles total segment adjusted operating income to income before income taxes:

			Three Months Ended March 31,
(in millions)			2026						2025
​
Segment adjusted operating income
Mobility			$	124.5											$	131.4
Benefits			100.2												86.9
Corporate Payments			44.1												40.5
Total segment adjusted operating income			$	268.8											$	258.7

			Three Months Ended March 31,
(in millions)			2026						2025
Reconciliation:
Total segment adjusted operating income			$	268.8											$	258.7
Less:
Unallocated corporate expenses			24.6												24.9
Acquisition-related intangible amortization			45.8												47.8
Other acquisition and divestiture related items			—												0.5
Stock-based compensation			29.6												13.3
Other costs			10.4												14.9
Add:
Financing interest expense, net of financial instruments			(53.6)												(53.0)
Net foreign currency gain (loss)			4.6												(3.1)
Change in fair value of contingent consideration			(0.7)												(0.8)
Income before income taxes			$	108.5											$	100.4

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

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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.

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