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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Schedule of reportable segment results | The following tables present the Company’s reportable segment results for the three and nine months ended September 30, 2020 and 2019:
|  | For the Three Months Ended September 30, 2020
(in thousands) |  | EFT Processing |  | epay |  | Money Transfer |  | Corporate Services, Eliminations and Other |  | Consolidated
Total revenues |  | $ | 144,062 |  |  | $ | 198,939 |  |  | $ | 323,092 |  |  | $ | (1,742) |  |  | $ | 664,351 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Direct operating costs |  | 82,626 |  |  | 149,993 |  |  | 176,718 |  |  | (1,739) |  |  | 407,598 |
Salaries and benefits |  | 25,182 |  |  | 16,108 |  |  | 52,035 |  |  | 8,252 |  |  | 101,577 |
Selling, general and administrative |  | 8,577 |  |  | 8,455 |  |  | 36,601 |  |  | 1,592 |  |  | 55,225 |
Goodwill and acquired intangible assets impairment |  | — |  |  | — |  |  | 1,467 |  |  | — |  |  | 1,467 |
Depreciation and amortization |  | 21,516 |  |  | 2,134 |  |  | 8,645 |  |  | 117 |  |  | 32,412 |
Total operating expenses |  | 137,901 |  |  | 176,690 |  |  | 275,466 |  |  | 8,222 |  |  | 598,279 |
Operating income (expense) |  | $ | 6,161 |  |  | $ | 22,249 |  |  | $ | 47,626 |  |  | $ | (9,964) |  |  | $ | 66,072 |
|  | For the Three Months Ended September 30, 2019
(in thousands) |  | EFT Processing |  | epay |  | Money Transfer |  | Corporate Services, Eliminations and Other |  | Consolidated
Total revenues |  | $ | 316,188 |  |  | $ | 191,071 |  |  | $ | 280,837 |  |  | $ | (1,110 | ) |  | $ | 786,986 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Direct operating costs |  | 111,116 |  |  | 145,410 |  |  | 149,663 |  |  | (1,108 | ) |  | 405,081 |
Salaries and benefits |  | 23,936 |  |  | 15,188 |  |  | 51,555 |  |  | 10,675 |  |  | 101,354 |
Selling, general and administrative |  | 12,191 |  |  | 8,838 |  |  | 35,820 |  |  | 1,866 |  |  | 58,715 |
Depreciation and amortization |  | 18,044 |  |  | 1,572 |  |  | 8,151 |  |  | 79 |  |  | 27,846 |
Total operating expenses |  | 165,287 |  |  | 171,008 |  |  | 245,189 |  |  | 11,512 |  |  | 592,996 |
Operating income (expense) |  | $ | 150,901 |  |  | $ | 20,063 |  |  | $ | 35,648 |  |  | $ | (12,622 | ) |  | $ | 193,990 |
|  | For the Nine Months Ended September 30, 2020
(in thousands) |  | EFT Processing |  | epay |  | Money Transfer |  | Corporate Services, Eliminations and Other |  | Consolidated
Total revenues |  | $ | 368,375 |  |  | $ | 559,413 |  |  | $ | 852,189 |  |  | $ | (3,916) |  |  | $ | 1,776,061 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Direct operating costs |  | 232,627 |  |  | 424,123 |  |  | 464,216 |  |  | (3,901) |  |  | 1,117,065 |
Salaries and benefits |  | 68,562 |  |  | 46,996 |  |  | 154,958 |  |  | 23,253 |  |  | 293,769 |
Selling, general and administrative |  | 29,033 |  |  | 25,928 |  |  | 108,355 |  |  | 6,017 |  |  | 169,333 |
Goodwill and acquired intangible assets impairment |  | 21,861 |  |  | — |  |  | 84,160 |  |  | — |  |  | 106,021 |
Depreciation and amortization |  | 61,772 |  |  | 5,629 |  |  | 25,793 |  |  | 276 |  |  | 93,470 |
Total operating expenses |  | 413,855 |  |  | 502,676 |  |  | 837,482 |  |  | 25,645 |  |  | 1,779,658 |
Operating income (expense) |  | $ | (45,480) |  |  | $ | 56,737 |  |  | $ | 14,707 |  |  | $ | (29,561) |  |  | $ | (3,597) |
|  | For the Nine Months Ended September 30, 2019
(in thousands) |  | EFT Processing |  | epay |  | Money Transfer |  | Corporate Services, Eliminations and Other |  | Consolidated
Total revenues |  | $ | 693,837 |  |  | $ | 551,345 |  |  | $ | 814,201 |  |  | $ | (3,021 | ) |  | $ | 2,056,362 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Direct operating costs |  | 300,460 |  |  | 419,362 |  |  | 435,901 |  |  | (2,998 | ) |  | 1,152,725 |
Salaries and benefits |  | 64,706 |  |  | 44,939 |  |  | 155,424 |  |  | 27,630 |  |  | 292,699 |
Selling, general and administrative |  | 32,022 |  |  | 26,314 |  |  | 96,660 |  |  | 5,708 |  |  | 160,704 |
Depreciation and amortization |  | 52,464 |  |  | 5,113 |  |  | 24,448 |  |  | 228 |  |  | 82,253 |
Total operating expenses |  | 449,652 |  |  | 495,728 |  |  | 712,433 |  |  | 30,568 |  |  | 1,688,381 |
Operating income (expense) |  | $ | 244,185 |  |  | $ | 55,617 |  |  | $ | 101,768 |  |  | $ | (33,589 | ) |  | $ | 367,981 |
The following table presents the Company’s total assets by reportable segment:
| Total Assets as of
(in thousands) | September 30, 2020 |  | December 31, 2019
EFT Processing | $ | 1,503,385 |  |  | $ | 1,914,144 |
epay | 812,444 |  |  | 962,671 |
Money Transfer | 1,480,624 |  |  | 1,560,136 |
Corporate Services, Eliminations and Other | 298,903 |  |  | 220,715 |
Total | $ | 4,095,356 |  |  | $ | 4,657,666 |
Schedule of Company's revenues disaggregated by segment and region | The following table presents the Company's revenues disaggregated by segment and region. Sales and usage-based taxes are excluded from revenues. The Company believes disaggregation by segment and region best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The disaggregation of revenues by segment and region is based on management's assessment of segment performance together with allocation of financial resources, both capital and operating support costs, on a segment and regional level. Both segments and regions benefit from synergies achieved through concentration of operations and are influenced by macro-economic, regulatory and political factors in the respective segment and region.
|  | For the Three Months Ended September 30, 2020 |  | For the Nine Months Ended September 30, 2020
(in thousands) |  | EFT Processing |  | epay |  | Money Transfer |  | Total |  |  | EFT Processing |  |  |  | epay |  |  |  | Money Transfer |  |  |  | Total |
Europe |  | $ | 107,182 |  |  | $ | 131,330 |  |  | $ | 127,399 |  |  | $ | 365,911 |  |  | $ | 251,583 |  |  | $ | 368,101 |  |  | $ | 317,187 |  |  | $ | 936,871 |
North America |  | 14,318 |  |  | 32,645 |  |  | 152,195 |  |  | 199,158 |  |  |  | 42,461 |  |  |  | 102,603 |  |  |  | 422,980 |  |  |  | 568,044 |
Asia Pacific |  | 22,562 |  |  | 26,679 |  |  | 34,036 |  |  | 83,277 |  |  |  | 74,327 |  |  |  | 69,916 |  |  |  | 91,116 |  |  |  | 235,359 |
Other |  | — |  |  | 8,285 |  |  | 9,462 |  |  | 17,747 |  |  |  | 4 |  |  |  | 18,793 |  |  |  | 20,906 |  |  |  | 39,703 |
Eliminations |  | — |  |  | — |  |  | — |  |  | (1,742) |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,916) |
Total |  | $ | 144,062 |  |  | $ | 198,939 |  |  | $ | 323,092 |  |  | $ | 664,351 |  |  | $ | 368,375 |  |  | $ | 559,413 |  |  | $ | 852,189 |  |  | $ | 1,776,061 |
|  | For the Three Months Ended September 30, 2019 |  | For the Nine Months Ended September 30, 2019 |
(in thousands) |  | EFT Processing |  | epay |  | Money Transfer |  | Total |  |  | EFT Processing |  |  |  | epay |  |  |  | Money Transfer |  |  |  | Total |
Europe |  | $ | 274,313 |  |  | $ | 130,602 |  |  | $ | 94,625 |  |  | $ | 499,540 |  |  | $ | 574,620 |  |  | $ | 368,830 |  |  | $ | 273,760 |  |  | $ | 1,217,210 |
North America |  | 8,717 |  |  | 37,218 |  |  | 147,989 |  |  | 193,924 |  |  |  | 24,880 |  |  |  | 114,614 |  |  |  | 428,349 |  |  |  | 567,843 |
Asia Pacific |  | 33,153 |  |  | 19,039 |  |  | 31,575 |  |  | 83,767 |  |  |  | 94,317 |  |  |  | 55,333 |  |  |  | 93,865 |  |  |  | 243,515 |
Other |  | 5 |  |  | 4,212 |  |  | 6,648 |  |  | 10,865 |  |  |  | 20 |  |  |  | 12,568 |  |  |  | 18,227 |  |  |  | 30,815 |
Eliminations |  | — |  |  | — |  |  | — |  |  | (1,110 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,021 | )
Total |  | $ | 316,188 |  |  | $ | 191,071 |  |  | $ | 280,837 |  |  | $ | 786,986 |  |  | $ | 693,837 |  |  | $ | 551,345 |  |  | $ | 814,201 |  |  | $ | 2,056,362 |

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