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Segments (Tables) | 6 Months Ended
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Jun. 30, 2022
Segments |
Segment Results | The following table presents the Company’s segment results for the three and six months ended June 30, 2022 and 2021 (in millions):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Consumer-to-Consumer |  | $ | 1,026.9 |  |  | $ | 1,127.1 |  |  | $ | 2,025.9 |  |  | $ | 2,178.0 |
Business Solutions (a) |  |  | 35.7 |  |  |  | 99.3 |  |  |  | 124.8 |  |  |  | 195.8 |
Other |  |  | 75.7 |  |  |  | 63.3 |  |  |  | 143.3 |  |  |  | 125.9 |
Total consolidated revenues |  | $ | 1,138.3 |  |  | $ | 1,289.7 |  |  | $ | 2,294.0 |  |  | $ | 2,499.7 |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |
Consumer-to-Consumer |  | $ | 225.6 |  |  | $ | 233.8 |  |  | $ | 432.8 |  |  | $ | 439.9 |
Business Solutions (a) |  |  | 8.3 |  |  |  | 10.9 |  |  |  | 35.8 |  |  |  | 23.5 |
Other |  |  | 30.3 |  |  |  | 10.2 |  |  |  | 51.8 |  |  |  | 24.3 |
Total segment operating income |  |  | 264.2 |  |  |  | 254.9 |  |  |  | 520.4 |  |  |  | 487.7 |
Russia/Belarus exit costs (b) |  |  | (0.2 | ) |  |  | — |  |  |  | (11.2 | ) |  |  | — |
Business Solutions exit costs (b) |  |  | — |  |  |  | — |  |  |  | (7.7 | ) |  |  | — |
Total consolidated operating income |  | $ | 264.0 |  |  | $ | 254.9 |  |  | $ | 501.5 |  |  | $ | 487.7 |
(a) On August 4, 2021, the Company entered into an agreement to sell its Business Solutions business to the Buyer, which will be completed in two closings. The first closing occurred on March 1, 2022, with the second expected in the fourth quarter of 2022. The operations of the Business Solutions business to be sold in the second closing continue to be included in Revenues and Operating income after the first closing. However, between the first and second closing, the Company will pay the Buyer a measure of the profits from these operations, adjusted for income taxes and other charges, as contractually agreed, and this expense is recognized in Other income/(expense), net in the Condensed Consolidated Statements of Income. See Note 4 for further information regarding this transaction. (b) Represents the exit costs incurred in connection with the Company's suspension of its operations in Russia and Belarus and the divestiture of the Business Solutions business, primarily related to severance and non-cash impairments of property and equipment, an operating lease right-of-use asset, and other intangible assets. While certain of the expenses are identifiable to the Company's segments, the expenses are not included in the measurement of segment operating income provided to the CODM for purposes of performance assessment and resource allocation. These expenses are therefore excluded from the Company's segment operating income results.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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