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Segment Information
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
Segment Information

10. 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 and other facility related 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,  
     2013     2012     2011  

Revenues:

       

Americas

    $ 541,890      $ 352,197      $ 245,703   

EMEA

      228,679        218,015        164,874   

Asia/Pacific

      94,359        96,367        54,518   
  

 

 

    

 

 

    

 

 

  
   $ 864,928      $ 666,579      $ 465,095   
  

 

 

    

 

 

    

 

 

  

Depreciation and amortization expense:

       

Americas

    $ 17,030      $ 10,917      $ 11,139   

EMEA

      6,310        5,175        4,473   

Asia/Pacific

      2,574        3,075        3,410   

Corporate

      44,053        31,614        9,355   
  

 

 

    

 

 

    

 

 

  
   $ 69,967      $ 50,781      $ 28,377   
  

 

 

    

 

 

    

 

 

  

Stock-based compensation expense:

       

Americas

    $ 2,392      $ 256      $ 1,496   

EMEA

      759        439        403   

Asia/Pacific

      293        314        418   

Corporate

      10,128        14,177        8,937   
  

 

 

    

 

 

    

 

 

  
   $ 13,572      $ 15,186      $ 11,254   
  

 

 

    

 

 

    

 

 

  

Income (loss) before taxes:

       

Americas

    $ 145,496      $ 103,165      $ 84,392   

EMEA

      87,522        78,848        45,755   

Asia/Pacific

      33,923        32,673        6,962   

Corporate

      (173,782 )      (149,418 )      (72,796 ) 
  

 

 

    

 

 

    

 

 

  
   $ 93,159      $ 65,268      $ 64,313   
  

 

 

    

 

 

    

 

 

  

 

     December 31,  
     2013      2012  

Long lived assets:

      

Americas—United States

    $ 832,169       $ 453,102   

Americas—Other

      18,708         11,712   

EMEA

      262,906         256,556   

Asia/Pacific

      82,854         110,020   
  

 

 

     

 

 

  
   $ 1,196,637       $ 831,390   
  

 

 

     

 

 

  
     December 31,  
     2013      2012  

Total assets:

      

Americas—United States

    $ 1,129,064       $ 635,558   

Americas—Other

      39,995         26,580   

EMEA

      380,320         404,016   

Asia/Pacific

      132,472         184,732   
  

 

 

     

 

 

  
   $ 1,681,851       $ 1,250,886   
  

 

 

     

 

 

  

 

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

 

     Years Ended December 31,  
     2013      2012      2011  

Retail payments processing

    $ 410,200       $ 372,942       $ 289,501   

Online Banking and Community Financial Services

      223,902         169,652         47,283   

Wholesale banking payments

      35,396         39,717         34,357   

Payment fraud management

      37,136         25,160         32,939   

Card and merchant management

      18,072         21,963         23,130   

Tools and infrastructure

      38,241         37,145         37,885   

Billers

      101,981         —           —     
  

 

 

     

 

 

     

 

 

  

Total

    $ 864,928       $ 666,579       $ 465,095   
  

 

 

     

 

 

     

 

 

  

During the years ended December 31, 2013, 2012 and 2011, approximately 28%, 32%, and 43%, 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, 2013, 2012 and 2011, revenues in the United States were approximately $450.3 million, $277.8 million, and $188.0 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, 2013, 2012 and 2011. No single customer accounted for more than 10% of the Company’s consolidated revenues during the years ended December 31, 2013, 2012 and 2011.