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Segment Reporting | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Segment Reporting | 18. Segment Reporting The Company has three operating and reportable segments, Commercial Services, Government Solutions and Parking Solutions. Commercial Services offers toll and violation management solutions and title and registration services to commercial fleet vehicle owners, rental car companies and violation-issuing authorities. Government Solutions implements and administers traffic safety programs and products for municipalities and local government agencies of all sizes. As a result of the acquisition of T2 Systems completed in December 2021, the Company added a new reportable segment determined based on the type of products and services offered. T2 Systems provides an integrated suite of parking software and hardware solutions to its customers. The Company’s Chief Operating Decision Maker function (“CODM”) is comprised of the Company’s CEO and certain defined representatives of the Company’s executive management team. The Company’s CODM monitors operating performance, allocates resources and deploys capital based on these three segments. Segment performance is based on revenues and income from operations before depreciation, amortization, gain (loss) on disposal of assets, net, impairment of property and equipment, and stock-based compensation. The measure also excludes interest expense, net, income taxes and certain other transactions and is inclusive of other income, net. The tables below refer to this measure as segment profit (loss). The aforementioned items are not indicative of operating performance, and, as a result are not included in the measures that are reviewed by the CODM for the segments. Other income, net consists primarily of credit card rebates earned on the prepayment of tolling transactions and is therefore included in segment profit (loss). The Company allocates certain corporate expenses to the three segments using several different factors depending on the item being allocated. These factors range from specific identification to headcount-based to allocate proportionately between the three segments. The corporate and other columns below include items that are not included in segment profit (loss), plus transaction expenses and other items designated by the CODM as corporate initiatives. The Company do es not disaggregate assets by segment other than equipment installed at customer sites and automobiles, which had carrying values of $61.8 million and $2.7 million, respec tively, at December 31, 2021 and carrying values of $42.4 million and $1.8 million, respectively, at December 31, 2020 all of which relate solely to the Government Solutions segment. Refer to Note 6, Goodwill and Intangible Assets for goodwill balances by segment. The following tables set forth financial information by segment for the fiscal years ended December 31, 2021, 2020 and 2019:
|  | For the Year Ended December 31, 2021 |
|  | Commercial |  |  | Government |  |  | Parking |  |  | Corporate |  |  |  |
($ in thousands) |  | Services |  |  | Solutions |  |  | Solutions |  |  | and Other |  |  | Total |
Service revenue |  | $ | 260,899 |  |  | $ | 227,992 |  |  | $ | 3,955 |  |  | $ | — |  |  | $ | 492,846 |
Product sales |  |  | — |  |  |  | 55,163 |  |  |  | 2,581 |  |  |  | — |  |  |  | 57,744 |
Total revenue |  |  | 260,899 |  |  |  | 283,155 |  |  |  | 6,536 |  |  |  | — |  |  |  | 550,590 |
Cost of service revenue |  |  | 3,183 |  |  |  | 1,500 |  |  |  | 654 |  |  |  | — |  |  |  | 5,337 |
Cost of product sales |  |  | — |  |  |  | 28,381 |  |  |  | 1,428 |  |  |  | — |  |  |  | 29,809 |
Operating expenses |  |  | 65,718 |  |  |  | 96,284 |  |  |  | 553 |  |  |  | — |  |  |  | 162,555 |
Selling, general and administrative expenses |  |  | 42,873 |  |  |  | 52,380 |  |  |  | 1,488 |  |  |  | 13,697 |  |  |  | 110,438 |
Other income, net |  |  | (10,837 | ) |  |  | (2,040 | ) |  |  | (18 | ) |  |  | — |  |  |  | (12,895 | )
Segment profit (loss) |  | $ | 159,962 |  |  | $ | 106,650 |  |  | $ | 2,431 |  |  | $ | (13,697 | ) |  | $ | 255,346 |
Segment profit (loss) |  | $ | 159,962 |  |  | $ | 106,650 |  |  | $ | 2,431 |  |  | $ | (13,697 | ) |  | $ | 255,346 |
Depreciation and amortization |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 116,753 |  |  |  | 116,753 |
Loss on disposal of assets, net |  |  | — |  |  |  | 48 |  |  |  | — |  |  |  | — |  |  |  | 48 |
Change in fair value of private placement warrants |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,600 |  |  |  | 7,600 |
Tax receivable agreement liability adjustment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,016 | ) |  |  | (1,016 | )
Stock-based compensation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13,784 |  |  |  | 13,784 |
Loss on extinguishment of debt |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,334 |  |  |  | 5,334 |
Interest expense, net |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 44,942 |  |  |  | 44,942 |
Income (loss) before income taxes |  | $ | 159,962 |  |  | $ | 106,602 |  |  | $ | 2,431 |  |  | $ | (201,094 | ) |  | $ | 67,901 |
|  | For the Year Ended December 31, 2020 |
|  | Commercial |  |  | Government |  |  | Corporate |  |  |  |
($ in thousands) |  | Services |  |  | Solutions |  |  | and Other |  |  | Total |
Service revenue |  | $ | 180,856 |  |  | $ | 155,418 |  |  | $ | — |  |  | $ | 336,274 |
Product sales |  |  | — |  |  |  | 57,319 |  |  |  | — |  |  |  | 57,319 |
Total revenue |  |  | 180,856 |  |  |  | 212,737 |  |  |  | — |  |  |  | 393,593 |
Cost of service revenue |  |  | 2,562 |  |  |  | 1,405 |  |  |  | — |  |  |  | 3,967 |
Cost of product sales |  |  | — |  |  |  | 29,573 |  |  |  | — |  |  |  | 29,573 |
Operating expenses |  |  | 52,505 |  |  |  | 62,387 |  |  |  | — |  |  |  | 114,892 |
Selling, general and administrative expenses |  |  | 40,978 |  |  |  | 34,465 |  |  |  | 2,469 |  |  |  | 77,912 |
Other income, net |  |  | (11,774 | ) |  |  | (111 | ) |  |  | — |  |  |  | (11,885 | )
Segment profit (loss) |  | $ | 96,585 |  |  | $ | 85,018 |  |  | $ | (2,469 | ) |  | $ | 179,134 |
Segment profit (loss) |  | $ | 96,585 |  |  | $ | 85,018 |  |  | $ | (2,469 | ) |  | $ | 179,134 |
Depreciation and amortization |  |  | — |  |  |  | — |  |  |  | 116,570 |  |  |  | 116,570 |
Loss on disposal of assets, net |  |  | 16 |  |  |  | 258 |  |  |  | — |  |  |  | 274 |
Change in fair value of private placement warrants |  |  | — |  |  |  | — |  |  |  | 1,133 |  |  |  | 1,133 |
Tax receivable agreement liability adjustment |  |  | — |  |  |  | — |  |  |  | 6,850 |  |  |  | 6,850 |
Stock-based compensation |  |  | — |  |  |  | — |  |  |  | 12,589 |  |  |  | 12,589 |
Interest expense, net |  |  | — |  |  |  | — |  |  |  | 40,865 |  |  |  | 40,865 |
Income (loss) before income taxes |  | $ | 96,569 |  |  | $ | 84,760 |  |  | $ | (180,476 | ) |  | $ | 853 |
|  | For the Year Ended December 31, 2019 |
|  | Commercial |  |  | Government |  |  | Corporate |  |  |  |
($ in thousands) |  | Services |  |  | Solutions |  |  | and Other |  |  | Total |
Service revenue |  | $ | 276,479 |  |  | $ | 140,244 |  |  | $ | — |  |  | $ | 416,723 |
Product sales |  |  | — |  |  |  | 32,014 |  |  |  | — |  |  |  | 32,014 |
Total revenue |  |  | 276,479 |  |  |  | 172,258 |  |  |  | — |  |  |  | 448,737 |
Cost of service revenue |  |  | 3,709 |  |  |  | 1,852 |  |  |  | — |  |  |  | 5,561 |
Cost of product sales |  |  | — |  |  |  | 13,919 |  |  |  | — |  |  |  | 13,919 |
Operating expenses |  |  | 66,916 |  |  |  | 57,905 |  |  |  | — |  |  |  | 124,821 |
Selling, general and administrative expenses |  |  | 41,384 |  |  |  | 32,696 |  |  |  | 2,220 |  |  |  | 76,300 |
Other income, net |  |  | (10,814 | ) |  |  | (278 | ) |  |  | — |  |  |  | (11,092 | )
Segment profit (loss) |  | $ | 175,284 |  |  | $ | 66,164 |  |  | $ | (2,220 | ) |  | $ | 239,228 |
Segment profit (loss) |  | $ | 175,284 |  |  | $ | 66,164 |  |  | $ | (2,220 | ) |  | $ | 239,228 |
Depreciation and amortization |  |  | — |  |  |  | — |  |  |  | 115,566 |  |  |  | 115,566 |
Loss on disposal of assets, net |  |  | 145 |  |  |  | 60 |  |  |  | — |  |  |  | 205 |
Change in fair value of private placement warrants |  |  | — |  |  |  | — |  |  |  | 16,267 |  |  |  | 16,267 |
Impairment of property and equipment |  |  | — |  |  |  | 5,898 |  |  |  | — |  |  |  | 5,898 |
Tax receivable agreement liability adjustment |  |  | — |  |  |  | — |  |  |  | (106 | ) |  |  | (106 | )
Stock-based compensation |  |  | — |  |  |  | — |  |  |  | 10,012 |  |  |  | 10,012 |
Interest expense, net |  |  | — |  |  |  | — |  |  |  | 60,729 |  |  |  | 60,729 |
Income (loss) before income taxes |  | $ | 175,139 |  |  | $ | 60,206 |  |  | $ | (204,688 | ) |  | $ | 30,657 |
The Company primarily operates within the United States, Australia, Canada, United Kingdom and in various other countries in Europe. Revenues from international customers for the years ended December 31, 2021, 2020 and 2019 were $40.0 million, $13.3 million and $14.5 million, respectively. Revenues from Australia, United Kingdom and Canada represented $13.9 million, $16.3 million and $6.9 million, respectively for the year ended December 31, 2021. Revenues earned from goods transferred to customers at a point in time were approximately $57.7 million, $57.3 million and $32.0 million for the years ended December 31, 2021, 2020 and 2019, respectively. Property and equipment, net located in foreign countries was $14.8 million as of December 31, 2021, of which Canada represented $6.7 million and Australia represented $6.1 million. Property and equipment, net was $4.7 million as of December 31, 2020 and it was not material for any individual foreign country in which the Company operated.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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