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SEGMENT INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2024
SEGMENT INFORMATION |
Schedule of reportable segment results | The following tables present the Company's reportable segment results for the three months and six months ended June 30, 2024 and 2023:
|  | For the Three Months Ended June 30, 2024
(in millions) |  | EFT Processing |  | epay |  | Money Transfer |  | Corporate Services, Eliminations and Other |  | Consolidated
Total revenues |  | $ | 305.4 |  |  | $ | 260.9 |  |  | $ | 421.8 |  |  | $ | (1.9 | ) |  | $ | 986.2 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Direct operating costs, exclusive of depreciation |  | 152.5 |  |  | 198.5 |  |  | 231.7 |  |  | (1.9 | ) |  | 580.8 |
Salaries and benefits |  | 34.4 |  |  | 25.1 |  |  | 82.7 |  |  | 15.8 |  |  | 158.0 |
Selling, general and administrative |  | 13.5 |  |  | 9.3 |  |  | 53.4 |  |  | 3.2 |  |  | 79.4 |
Depreciation and amortization |  | 25.1 |  |  | 1.8 |  |  | 6.7 |  |  | 0.1 |  |  | 33.7 |
Total operating expenses |  | 225.5 |  |  | 234.7 |  |  | 374.5 |  |  | 17.2 |  |  | 851.9 |
Operating income (loss) |  | $ | 79.9 |  |  | $ | 26.2 |  |  | $ | 47.3 |  |  | $ | (19.1 | ) |  | $ | 134.3 |
|  | For the Three Months Ended June 30, 2023
(in millions) |  | EFT Processing |  | epay |  | Money Transfer |  | Corporate Services, Eliminations and Other |  | Consolidated
Total revenues |  | $ | 282.4 |  |  | $ | 263.8 |  |  | $ | 394.8 |  |  | $ | (1.9 | ) |  | $ | 939.1 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Direct operating costs, exclusive of depreciation |  | 142.1 |  |  | 204.2 |  |  | 213.7 |  |  | (1.9 | ) |  | 558.1 |
Salaries and benefits |  | 30.8 |  |  | 22.0 |  |  | 78.5 |  |  | 18.1 |  |  | 149.4 |
Selling, general and administrative |  | 16.6 |  |  | 9.1 |  |  | 47.3 |  |  | 2.3 |  |  | 75.3 |
Depreciation and amortization |  | 23.8 |  |  | 1.7 |  |  | 8.1 |  |  | 0.1 |  |  | 33.7 |
Total operating expenses |  | 213.3 |  |  | 237.0 |  |  | 347.6 |  |  | 18.6 |  |  | 816.5 |
Operating income (loss) |  | $ | 69.1 |  |  | $ | 26.8 |  |  | $ | 47.2 |  |  | $ | (20.5 | ) |  | $ | 122.6 |
| For the Six Months Ended June 30, 2024
(in millions) |  | EFT Processing |  | epay |  | Money Transfer |  | Corporate Services, Eliminations and Other |  | Consolidated
Total revenues |  | $ | 522.6 |  |  | $ | 518.0 |  |  | $ | 806.4 |  |  | $ | (3.8 | ) |  | $ | 1,843.2 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Direct operating costs, exclusive of depreciation |  | 283.6 |  |  | 393.6 |  |  | 441.1 |  |  | (3.8 | ) |  | 1,114.5 |
Salaries and benefits |  | 66.2 |  |  | 49.2 |  |  | 163.4 |  |  | 33.9 |  |  | 312.7 |
Selling, general and administrative |  | 22.7 |  |  | 18.9 |  |  | 103.4 |  |  | 6.3 |  |  | 151.3 |
Depreciation and amortization |  | 48.7 |  |  | 3.5 |  |  | 14.0 |  |  | 0.2 |  |  | 66.4 |
Total operating expenses |  | 421.2 |  |  | 465.2 |  |  | 721.9 |  |  | 36.6 |  |  | 1,644.9 |
Operating income (loss) |  | $ | 101.4 |  |  | $ | 52.8 |  |  | $ | 84.5 |  |  | $ | (40.4 | ) |  | $ | 198.3 |
|  | For the Six Months Ended June 30, 2023
(in millions) |  | EFT Processing |  | epay |  | Money Transfer |  | Corporate Services, Eliminations and Other |  | Consolidated
Total revenues |  | $ | 474.6 |  |  | $ | 501.2 |  |  | $ | 754.2 |  |  | $ | (3.7 | ) |  | $ | 1,726.3 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Direct operating costs, exclusive of depreciation |  | 261.1 |  |  | 382.3 |  |  | 410.0 |  |  | (3.7 | ) |  | 1,049.7 |
Salaries and benefits |  | 58.3 |  |  | 43.4 |  |  | 152.8 |  |  | 36.8 |  |  | 291.3 |
Selling, general and administrative |  | 32.7 |  |  | 17.9 |  |  | 95.0 |  |  | 4.9 |  |  | 150.5 |
Depreciation and amortization |  | 46.5 |  |  | 3.3 |  |  | 16.6 |  |  | 0.2 |  |  | 66.6 |
Total operating expenses |  | 398.6 |  |  | 446.9 |  |  | 674.4 |  |  | 38.2 |  |  | 1,558.1 |
Operating income (loss) |  | $ | 76.0 |  |  | $ | 54.3 |  |  | $ | 79.8 |  |  | $ | (41.9 | ) |  | $ | 168.2 |
The following table presents the Company's total assets by reportable segment:
| Total Assets as of
(in millions) | June 30, 2024 |  | December 31, 2023
EFT Processing | $ | 2,951.2 |  |  | $ | 2,442.0 |
epay | 925.0 |  |  | 1,204.9 |
Money Transfer | 1,847.7 |  |  | 1,921.1 |
Corporate Services, Eliminations and Other | 336.9 |  |  | 326.4 |
Total | $ | 6,060.8 |  |  | $ | 5,894.4 |
Schedule of Company's revenues disaggregated by segment and region |
|  | Revenues for the Three Months Ended June 30, 2024 |  | Revenues for the Six Months Ended June 30, 2024
(in millions) |  | EFT Processing |  | epay |  | Money Transfer |  | Total |  |  | EFT Processing |  |  |  | epay |  |  |  | Money Transfer |  |  |  | Total |
Europe |  | $ | 230.2 |  |  | $ | 161.5 |  |  | $ | 173.4 |  |  | $ | 565.1 |  |  | $ | 377.3 |  |  | $ | 328.1 |  |  | $ | 334.5 |  |  | $ | 1,039.9 |
North America |  | 18.3 |  |  | 48.6 |  |  | 199.1 |  |  | 266.0 |  |  |  | 36.1 |  |  |  | 92.9 |  |  |  | 376.1 |  |  |  | 505.1 |
Asia Pacific |  | 53.0 |  |  | 37.9 |  |  | 32.5 |  |  | 123.4 |  |  |  | 102.2 |  |  |  | 70.6 |  |  |  | 62.6 |  |  |  | 235.4 |
Other |  | 3.9 |  |  | 12.9 |  |  | 16.8 |  |  | 33.6 |  |  |  | 7.0 |  |  |  | 26.4 |  |  |  | 33.2 |  |  |  | 66.6 |
Eliminations |  | — |  |  | — |  |  | — |  |  | (1.9 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3.8 | )
Total |  | $ | 305.4 |  |  | $ | 260.9 |  |  | $ | 421.8 |  |  | $ | 986.2 |  |  | $ | 522.6 |  |  | $ | 518.0 |  |  | $ | 806.4 |  |  | $ | 1,843.2 |
|  | Revenues for the Three Months Ended June 30, 2023 |  | Revenues for the Six Months Ended June 30, 2023
(in millions) |  | EFT Processing |  | epay |  | Money Transfer |  | Total |  |  | EFT Processing |  |  |  | epay |  |  |  | Money Transfer |  |  |  | Total |
Europe |  | $ | 223.7 |  |  | $ | 172.4 |  |  | $ | 166.1 |  |  | $ | 562.2 |  |  | $ | 358.6 |  |  | $ | 327.3 |  |  | $ | 315.3 |  |  | $ | 1,001.2 |
North America |  | 17.3 |  |  | 44.6 |  |  | 186.9 |  |  | 248.8 |  |  |  | 35.3 |  |  |  | 80.4 |  |  |  | 349.6 |  |  |  | 465.3 |
Asia Pacific |  | 40.3 |  |  | 38.1 |  |  | 28.8 |  |  | 107.2 |  |  |  | 76.0 |  |  |  | 57.8 |  |  |  | 50.9 |  |  |  | 184.7 |
Other |  | 1.1 |  |  | 8.7 |  |  | 13.0 |  |  | 22.8 |  |  |  | 4.7 |  |  |  | 35.7 |  |  |  | 38.4 |  |  |  | 78.8 |
Eliminations |  | — |  |  | — |  |  | — |  |  | (1.9 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3.7 | )
Total |  | $ | 282.4 |  |  | $ | 263.8 |  |  | $ | 394.8 |  |  | $ | 939.1 |  |  | $ | 474.6 |  |  | $ | 501.2 |  |  | $ | 754.2 |  |  | $ | 1,726.3 |

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