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v3.22.2.2

Segments (Tables) | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Segment Results | The following table presents the Company’s segment results for the three and nine months ended September 30, 2022 and 2021 (in millions):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Consumer-to-Consumer |  | $ | 982.4 |  |  | $ | 1,104.5 |  |  | $ | 3,008.3 |  |  | $ | 3,282.5 |
Business Solutions (a) |  |  | 42.6 |  |  |  | 116.8 |  |  |  | 167.4 |  |  |  | 312.6 |
Other |  |  | 64.6 |  |  |  | 65.0 |  |  |  | 207.9 |  |  |  | 190.9 |
Total consolidated revenues |  | $ | 1,089.6 |  |  | $ | 1,286.3 |  |  | $ | 3,383.6 |  |  | $ | 3,786.0 |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |
Consumer-to-Consumer |  | $ | 193.7 |  |  | $ | 268.2 |  |  | $ | 626.5 |  |  | $ | 708.1 |
Business Solutions (a) |  |  | 15.9 |  |  |  | 38.4 |  |  |  | 51.7 |  |  |  | 61.9 |
Other |  |  | 21.6 |  |  |  | 12.0 |  |  |  | 73.4 |  |  |  | 36.3 |
Total segment operating income |  |  | 231.2 |  |  |  | 318.6 |  |  |  | 751.6 |  |  |  | 806.3 |
Russia/Belarus exit costs (b) |  |  | 0.6 |  |  |  | — |  |  |  | (10.6 | ) |  |  | — |
Business Solutions exit costs (b) |  |  | — |  |  |  | — |  |  |  | (7.7 | ) |  |  | — |
Total consolidated operating income |  | $ | 231.8 |  |  | $ | 318.6 |  |  | $ | 733.3 |  |  | $ | 806.3 |
(a) On August 4, 2021, the Company entered into an agreement to sell its Business Solutions business to the Buyer. The sale will be completed in three closings, the first of which occurred on March 1, 2022. The second is expected to occur in December 2022, with the third expected in the first quarter of 2023. The operations of the Business Solutions business to be sold in the second and third closings continue to be included in Revenues and Operating income after the first closing. During the period between the first and third closings, the Company will pay to the Buyer a measure of profit of the European Union and United Kingdom operations, while owned by the Company, adjusted for the occupancy charges for employees of the Buyer using Company facilities and other items, as contractually agreed, and this expense is recognized in Other income/(expense), net in the Condensed Consolidated Statements of Income. The related income tax expense on this income is also passed to the Buyer. (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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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