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SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 30, 2024
SEGMENT INFORMATION |
Schedule of reportable segment results | The following tables present the Company's reportable segment results for the three months and nine months ended September 30, 2024 and 2023:
|  | For the Three Months Ended September 30, 2024
(in millions) |  | EFT Processing |  | epay |  | Money Transfer |  | Corporate Services, Eliminations and Other |  | Consolidated
Total revenues |  | $ | 373.0 |  |  | $ | 290.3 |  |  | $ | 438.2 |  |  | $ | (2.2 | ) |  | $ | 1,099.3 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Direct operating costs, exclusive of depreciation |  | 174.3 |  |  | 223.5 |  |  | 238.4 |  |  | (2.2 | ) |  | 634.0 |
Salaries and benefits |  | 41.3 |  |  | 26.2 |  |  | 84.9 |  |  | 17.2 |  |  | 169.6 |
Selling, general and administrative |  | 15.3 |  |  | 9.6 |  |  | 50.8 |  |  | 4.9 |  |  | 80.6 |
Depreciation and amortization |  | 24.8 |  |  | 1.9 |  |  | 6.0 |  |  | 0.2 |  |  | 32.9 |
Total operating expenses |  | 255.7 |  |  | 261.2 |  |  | 380.1 |  |  | 20.1 |  |  | 917.1 |
Operating income (loss) |  | $ | 117.3 |  |  | $ | 29.1 |  |  | $ | 58.1 |  |  | $ | (22.3 | ) |  | $ | 182.2 |
|  | For the Three Months Ended September 30, 2023
(in millions) |  | EFT Processing |  | epay |  | Money Transfer |  | Corporate Services, Eliminations and Other |  | Consolidated
Total revenues |  | $ | 345.8 |  |  | $ | 264.5 |  |  | $ | 395.9 |  |  | $ | (2.2 | ) |  | $ | 1,004.0 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Direct operating costs, exclusive of depreciation |  | 165.7 |  |  | 201.3 |  |  | 211.9 |  |  | (2.2 | ) |  | 576.7 |
Salaries and benefits |  | 35.2 |  |  | 23.4 |  |  | 77.6 |  |  | 17.4 |  |  | 153.6 |
Selling, general and administrative |  | 16.2 |  |  | 9.7 |  |  | 45.7 |  |  | 2.3 |  |  | 73.9 |
Depreciation and amortization |  | 23.9 |  |  | 1.8 |  |  | 7.0 |  |  | 0.1 |  |  | 32.8 |
Total operating expenses |  | 241.0 |  |  | 236.2 |  |  | 342.2 |  |  | 17.6 |  |  | 837.0 |
Operating income (loss) |  | $ | 104.8 |  |  | $ | 28.3 |  |  | $ | 53.7 |  |  | $ | (19.8 | ) |  | $ | 167.0 |
| For the Nine Months Ended September 30, 2024
(in millions) |  | EFT Processing |  | epay |  | Money Transfer |  | Corporate Services, Eliminations and Other |  | Consolidated
Total revenues |  | $ | 895.6 |  |  | $ | 808.3 |  |  | $ | 1,244.6 |  |  | $ | (6.0 | ) |  | $ | 2,942.5 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Direct operating costs, exclusive of depreciation |  | 457.9 |  |  | 617.1 |  |  | 679.5 |  |  | (6.0 | ) |  | 1,748.5 |
Salaries and benefits |  | 107.5 |  |  | 75.4 |  |  | 248.3 |  |  | 51.1 |  |  | 482.3 |
Selling, general and administrative |  | 38.0 |  |  | 28.5 |  |  | 154.2 |  |  | 11.2 |  |  | 231.9 |
Depreciation and amortization |  | 73.5 |  |  | 5.4 |  |  | 20.0 |  |  | 0.4 |  |  | 99.3 |
Total operating expenses |  | 676.9 |  |  | 726.4 |  |  | 1,102.0 |  |  | 56.7 |  |  | 2,562.0 |
Operating income (loss) |  | $ | 218.7 |  |  | $ | 81.9 |  |  | $ | 142.6 |  |  | $ | (62.7 | ) |  | $ | 380.5 |
|  | For the Nine Months Ended September 30, 2023
(in millions) |  | EFT Processing |  | epay |  | Money Transfer |  | Corporate Services, Eliminations and Other |  | Consolidated
Total revenues |  | $ | 820.4 |  |  | $ | 765.7 |  |  | $ | 1,150.1 |  |  | $ | (5.9 | ) |  | $ | 2,730.3 |
Operating expenses: |  |  |  |  |  |  |  |  |  |
Direct operating costs, exclusive of depreciation |  | 426.8 |  |  | 583.6 |  |  | 621.9 |  |  | (5.9 | ) |  | 1,626.4 |
Salaries and benefits |  | 93.5 |  |  | 66.8 |  |  | 230.4 |  |  | 54.2 |  |  | 444.9 |
Selling, general and administrative |  | 48.9 |  |  | 27.6 |  |  | 140.7 |  |  | 7.2 |  |  | 224.4 |
Depreciation and amortization |  | 70.4 |  |  | 5.1 |  |  | 23.6 |  |  | 0.3 |  |  | 99.4 |
Total operating expenses |  | 639.6 |  |  | 683.1 |  |  | 1,016.6 |  |  | 55.8 |  |  | 2,395.1 |
Operating income (loss) |  | $ | 180.8 |  |  | $ | 82.6 |  |  | $ | 133.5 |  |  | $ | (61.7 | ) |  | $ | 335.2 |
The following table presents the Company's total assets by reportable segment:
| Total Assets as of
(in millions) | September 30, 2024 |  | December 31, 2023
EFT Processing | $ | 3,006.6 |  |  | $ | 2,442.0 |
epay | 986.6 |  |  | 1,204.9 |
Money Transfer | 1,917.3 |  |  | 1,921.1 |
Corporate Services, Eliminations and Other | 378.6 |  |  | 326.4 |
Total | $ | 6,289.1 |  |  | $ | 5,894.4 |
Schedule of Company's revenues disaggregated by segment and region |
|  | Revenues for the Three Months Ended September 30, 2024 |  | Revenues for the Nine Months Ended September 30, 2024
(in millions) |  | EFT Processing |  | epay |  | Money Transfer |  | Total |  |  | EFT Processing |  |  |  | epay |  |  |  | Money Transfer |  |  |  | Total |
Europe |  | $ | 294.2 |  |  | $ | 178.2 |  |  | $ | 186.1 |  |  | $ | 658.5 |  |  | $ | 671.5 |  |  | $ | 506.3 |  |  | $ | 520.6 |  |  | $ | 1,698.4 |
North America |  | 18.9 |  |  | 58.3 |  |  | 201.8 |  |  | 279.0 |  |  |  | 55.1 |  |  |  | 151.2 |  |  |  | 577.9 |  |  |  | 784.2 |
Asia Pacific |  | 55.3 |  |  | 41.5 |  |  | 32.5 |  |  | 129.3 |  |  |  | 157.5 |  |  |  | 112.1 |  |  |  | 95.1 |  |  |  | 364.7 |
Other |  | 4.6 |  |  | 12.3 |  |  | 17.8 |  |  | 34.7 |  |  |  | 11.5 |  |  |  | 38.7 |  |  |  | 51.0 |  |  |  | 101.2 |
Eliminations |  | — |  |  | — |  |  | — |  |  | (2.2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (6.0 | )
Total |  | $ | 373.0 |  |  | $ | 290.3 |  |  | $ | 438.2 |  |  | $ | 1,099.3 |  |  | $ | 895.6 |  |  | $ | 808.3 |  |  | $ | 1,244.6 |  |  | $ | 2,942.5 |
|  | Revenues for the Three Months Ended September 30, 2023 |  | Revenues for the Nine Months Ended September 30, 2023
(in millions) |  | EFT Processing |  | epay |  | Money Transfer |  | Total |  |  | EFT Processing |  |  |  | epay |  |  |  | Money Transfer |  |  |  | Total |
Europe |  | $ | 285.7 |  |  | $ | 171.6 |  |  | $ | 165.1 |  |  | $ | 622.4 |  |  | $ | 644.2 |  |  | $ | 498.9 |  |  | $ | 480.5 |  |  | $ | 1,623.6 |
North America |  | 18.6 |  |  | 45.2 |  |  | 187.4 |  |  | 251.2 |  |  |  | 53.9 |  |  |  | 125.6 |  |  |  | 539.8 |  |  |  | 719.3 |
Asia Pacific |  | 39.4 |  |  | 33.9 |  |  | 27.2 |  |  | 100.5 |  |  |  | 116.7 |  |  |  | 101.1 |  |  |  | 81.7 |  |  |  | 299.5 |
Other |  | 2.1 |  |  | 13.8 |  |  | 16.2 |  |  | 32.1 |  |  |  | 5.6 |  |  |  | 40.1 |  |  |  | 48.1 |  |  |  | 93.8 |
Eliminations |  | — |  |  | — |  |  | — |  |  | (2.2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (5.9 | )
Total |  | $ | 345.8 |  |  | $ | 264.5 |  |  | $ | 395.9 |  |  | $ | 1,004.0 |  |  | $ | 820.4 |  |  | $ | 765.7 |  |  | $ | 1,150.1 |  |  | $ | 2,730.3 |

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