XML 111 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6
Segment Information
 12 Months Ended
Dec. 31, 2012
Segment Information

12. Segment Information

The Company’s chief operating decision maker, together with other senior management personnel, currently focus their review of consolidated financial information and the allocation of resources based on reporting of operating results, including revenues and operating income, for the geographic regions of the Americas, EMEA and Asia/Pacific and the Corporate segment. The Company’s products are sold and supported through distribution networks covering these three geographic regions, with each distribution network having its own sales force. The Company supplements its distribution networks with independent reseller and/or distributor arrangements. All administrative costs that are not directly attributable or reasonably allocable to a geographic segment are tracked in the Corporate segment. As such, the Company has concluded that its three geographic regions are its reportable segments.

 

The Company allocates segment support expenses such as global product development, business operations, and product management based upon percentage of revenue per segment. Depreciation and amortization costs are allocated as a percentage of the headcount by segment. The Corporate line item consists of the corporate overhead costs that are not allocated to operating segments. Corporate overhead costs relate to human resources, finance, legal, accounting, merger and acquisition activity and amortization of acquisition-related intangibles and software as well as other costs that are not considered when management evaluates segment performance.

The following is selected segment financial data for the periods indicated (in thousands):

 

     Years Ended December 31,  
     2012     2011     2010  

Revenues:

       

Americas

    $ 352,197      $ 245,703      $ 221,560   

EMEA

      218,015        164,874        150,525   

Asia/Pacific

      96,367        54,518        46,339   
  

 

 

    

 

 

    

 

 

  
   $ 666,579      $ 465,095      $ 418,424   
  

 

 

    

 

 

    

 

 

  

Depreciation and amortization expense:

       

Americas

    $ 10,917      $ 11,139      $ 9,903   

EMEA

      5,175        4,473        3,731   

Asia/Pacific

      3,075        3,410        3,126   

Corporate

      31,614        9,355        9,587   
  

 

 

    

 

 

    

 

 

  
   $ 50,781      $ 28,377      $ 26,347   
  

 

 

    

 

 

    

 

 

  

Stock-based compensation expense:

       

Americas

    $ 256      $ 1,496      $ 1,684   

EMEA

      439        403        145   

Asia/Pacific

      314        418        425   

Corporate

      14,177        8,937        5,536   
  

 

 

    

 

 

    

 

 

  
   $ 15,186      $ 11,254      $ 7,790   
  

 

 

    

 

 

    

 

 

  

Income (loss) before taxes:

       

Americas

    $ 103,165      $ 84,392      $ 73,670   

EMEA

      78,848        45,755        42,026   

Asia/Pacific

      32,673        6,962        (1,481 ) 

Corporate

      (149,418 )      (72,796 )      (65,513 ) 
  

 

 

    

 

 

    

 

 

  
   $ 65,268      $ 64,313      $ 48,702   
  

 

 

    

 

 

    

 

 

  

 

     December 31,  
     2012      2011  

Long lived assets:

      

Americas—United States

    $ 453,102       $ 225,094   

Americas—Other

      11,712         4,051   

EMEA

      256,556         56,542   

Asia/Pacific

      110,020         23,625   
  

 

 

     

 

 

  
   $ 831,390       $ 309,312   
  

 

 

     

 

 

  

 

     December 31,  
     2012      2011  

Total assets:

      

Americas - United States

    $ 635,558       $ 408,038   

Americas - Other

      26,580         26,664   

EMEA

      404,016         166,997   

Asia/Pacific

      184,732         62,943   
  

 

 

     

 

 

  
   $ 1,250,886       $ 664,642   
  

 

 

     

 

 

  

Additionally, the Company offers six primary software product lines that are sold in each of the geographic regions listed above. Following are revenues, by product line (in thousands):

 

     Years Ended December 31,  
     2012      2011      2010  

Retail payments processing

    $ 372,942       $ 289,501       $ 255,536   

Online Banking and Community Financial Services

      169,652         47,283         55,482   

Wholesale banking payments

      39,717         34,357         31,042   

Payment fraud management

      25,160         32,939         22,039   

Card and merchant management

      21,963         23,130         19,240   

Tools and infrastructure

      37,145         37,885         35,085   
  

 

 

     

 

 

     

 

 

  

Total

    $ 666,579       $ 465,095       $ 418,424   
  

 

 

     

 

 

     

 

 

  

During the years ended December 31, 2012, 2011 and 2010, approximately 32%, 43%, and 46%, respectively, of the Company’s total revenues were derived from licensing the BASE24 product line, which does not include the BASE24-eps product, and providing related services and maintenance.

During the years ended December 31, 2012, 2011 and 2010, revenues in the United States were approximately $277.8 million, $188.0 million, and $163.1 million, respectively.

No country outside of the United States accounted for more than 10% of the Company’s consolidated revenues during the years ended December 31, 2012, 2011 and 2010. No single customer accounted for more than 10% of the Company’s consolidated revenues during the years ended December 31, 2012, 2011 and 2010.