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Segment Information
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION
(12) SEGMENT INFORMATION

Euronet’s reportable operating segments have been determined in accordance with ASC Topic 280, Segment Reporting (“ASC 280”). The Company currently operates in the following three reportable operating segments:

  1. Through the EFT Processing Segment, the Company processes transactions for a network of ATMs and POS terminals across Europe, the Middle East, Asia Pacific, the United States and Africa. The Company provides comprehensive electronic payment solutions consisting of ATM cash withdrawal services, ATM network participation, outsourced ATM and POS management solutions, credit and debit card outsourcing, dynamic currency conversion, domestic and international surcharges and other value added services. Through this segment, the Company also offers a suite of integrated electronic financial transaction software solutions for electronic payment and transaction delivery systems.
  2. Through the epay Segment, the Company provides distribution, processing and collection services for prepaid mobile airtime and other electronic payment products in Europe, the Middle East, Asia Pacific, the U.S. and South America.
  3. Through the Money Transfer Segment, the Company provides global money transfer services under the brand names Ria, AFEX, IME, and xe. Ria, AFEX and IME provide global consumer-to-consumer money transfer services through a network of sending agents, Company-owned stores and Company-owned websites, disbursing money transfers through a worldwide correspondent network. xe offers account-to-account international payment services to high-income individuals and small-to-medium sized businesses. xe is also a provider of foreign currency exchange information. The Company also offers customers bill payment services, payment alternatives such as money orders and prepaid debit cards, comprehensive check cashing services, foreign currency exchange services and mobile top-up. Furthermore, xe provides cash management solutions and foreign currency risk management services to small-to-medium sized businesses. 
In addition, the Company accounts for non-operating activity, share-based compensation expense, certain intersegment eliminations and the costs of providing corporate and other administrative services in its administrative division, “Corporate Services, Eliminations and Other.” These services are not directly identifiable with the Company’s reportable operating segments.

The following tables present the Company’s reportable segment results for the three months ended March 31, 2021 and 2020:
 
 
For the Three Months Ended March 31, 2021
(in thousands)
 
EFT
Processing
 
epay
 
Money
Transfer
 
Corporate Services,
Eliminations
and Other
 
Consolidated
Total revenues
 
$
87,076

 
$
242,303

 
$
324,900

 
$
(1,609
 )
 
$
652,670

Operating expenses:
 
 
 
 
 
 
 
 
 
 
Direct operating costs
 
69,612

 
182,633

 
183,878

 
(1,607
 )
 
434,516

Salaries and benefits
 
23,571

 
19,369

 
60,540

 
12,188

 
115,668

Selling, general and administrative
 
11,962

 
9,020

 
36,116

 
1,678

 
58,776

Depreciation and amortization
 
22,027

 
2,124

 
8,963

 
147

 
33,261

Total operating expenses
 
127,172

 
213,146

 
289,497

 
12,406

 
642,221

Operating (loss) income
 
$
(40,096
 )
 
$
29,157

 
$
35,403

 
$
(14,015
 )
 
$
10,449


 
 
For the Three Months Ended March 31, 2020
(in thousands)
 
EFT
Processing
 
epay
 
Money
Transfer
 
Corporate Services,
Eliminations
and Other
 
Consolidated
Total revenues
 
$
145,825

 
$
172,911

 
$
266,234

 
$
(1,063
)
 
$
583,907

Operating expenses:
 
 
 
 
 
 
 
 
 
 
Direct operating costs
 
87,536

 
130,074

 
142,909

 
(1,063
)
 
359,456

Salaries and benefits
 
22,091

 
15,697

 
53,864

 
9,588

 
101,240

Selling, general and administrative
 
10,941

 
8,838

 
38,582

 
2,432

 
60,793

Depreciation and amortization
 
20,322

 
1,844

 
8,571

 
79

 
30,816

Total operating expenses
 
140,890

 
156,453

 
243,926

 
11,036

 
552,305

Operating income (expense)
 
$
4,935

 
$
16,458

 
$
22,308

 
$
(12,099
)
 
$
31,602


The following table presents the Company’s total assets by reportable segment:
 
Total Assets as of
(in thousands)
March 31, 2021
 
December 31, 2020
EFT Processing
$
1,400,396

 
$
1,541,610

epay
915,875

 
1,135,204

Money Transfer
1,764,127

 
1,755,651

Corporate Services, Eliminations and Other
270,436

 
494,246

   Total  
$
4,350,834

 
$
4,926,711


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 March 31, 2021

For the Three Months Ended March 31, 2020
(in thousands)
 
EFT
Processing
 
epay
 
Money
Transfer
 
Total


EFT
Processing



epay



Money
Transfer



Total

Europe
 
$
46,862

 
$
164,908

 
$
132,839

 
$
344,609


$
99,474


$
115,277


$
91,058


$
305,809

North America
 
14,466

 
33,841

 
152,302

 
200,609



15,019



33,852



137,895



186,766

Asia Pacific
 
25,694

 
34,318

 
28,469

 
88,481



31,328



19,274



30,848



81,450

Other
 
54

 
9,236

 
11,290

 
20,580



4



4,508



6,433



10,945

Eliminations
 
—

 
—

 
—

 
(1,609
 )


—



—



—



(1,063)

Total
 
$
87,076

 
$
242,303

 
$
324,900

 
$
652,670


$
145,825


$
172,911


$
266,234


$
583,907