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Revenue (Tables)
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue Earned from Contracts with Customers

The substantial majority of the Company’s revenue is recognized at a point in time. The following tables represent the disaggregation of revenue earned from contracts with customers by product type and region for the years ended December 31, 2023, 2022, and 2021 (in millions). The regional split of revenue shown in the tables below is based upon where transactions are initiated.

 

 

Year Ended December 31, 2023

 

 

 

 

 

 

Foreign

 

 

 

 

 

 

 

 

 

Consumer

 

 

Exchange

 

 

 

 

 

 

 

 

 

Money

 

 

and Payment

 

 

Consumer

 

 

 

 

 

 

Transfers

 

 

Services (b)

 

 

Services

 

 

Total

 

Regions:

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

1,469.7

 

 

$

—

 

 

$

138.3

 

 

$

1,608.0

 

Europe and CIS

 

 

953.5

 

 

 

13.0

 

 

 

16.8

 

 

 

983.3

 

Middle East, Africa, and South Asia

 

 

829.4

 

 

 

—

 

 

 

0.4

 

 

 

829.8

 

Latin America and the Caribbean

 

 

419.2

 

 

 

—

 

 

 

102.6

 

 

 

521.8

 

East Asia and Oceania

 

 

215.1

 

 

 

—

 

 

 

—

 

 

 

215.1

 

Revenues from contracts with customers

 

$

3,886.9

 

 

$

13.0

 

 

$

258.1

 

 

$

4,158.0

 

Other revenues(a)

 

 

118.1

 

 

 

16.7

 

 

 

64.2

 

 

 

199.0

 

Total revenues

 

$

4,005.0

 

 

$

29.7

 

 

$

322.3

 

 

$

4,357.0

 

 

 

 

Year Ended December 31, 2022

 

 

 

 

 

 

Foreign

 

 

 

 

 

 

 

 

 

Consumer

 

 

Exchange

 

 

 

 

 

 

 

 

 

Money

 

 

and Payment

 

 

Consumer

 

 

 

 

 

 

Transfers

 

 

Services (b)

 

 

Services

 

 

Total

 

Regions:

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

1,553.2

 

 

$

17.9

 

 

$

129.5

 

 

$

1,700.6

 

Europe and Russia/CIS

 

 

1,056.0

 

 

 

102.3

 

 

 

21.1

 

 

 

1,179.4

 

Middle East, Africa, and South Asia

 

 

630.5

 

 

 

0.4

 

 

 

0.4

 

 

 

631.3

 

Latin America and the Caribbean

 

 

388.0

 

 

 

0.5

 

 

 

108.2

 

 

 

496.7

 

East Asia and Oceania

 

 

233.0

 

 

 

12.5

 

 

 

0.5

 

 

 

246.0

 

Revenues from contracts with customers

 

$

3,860.7

 

 

$

133.6

 

 

$

259.7

 

 

$

4,254.0

 

Other revenues(a)

 

 

132.8

 

 

 

63.3

 

 

 

25.4

 

 

 

221.5

 

Total revenues

 

$

3,993.5

 

 

$

196.9

 

 

$

285.1

 

 

$

4,475.5

 

 

 

 

Year Ended December 31, 2021

 

 

 

 

 

 

Foreign

 

 

 

 

 

 

 

 

 

Consumer

 

 

Exchange

 

 

 

 

 

 

 

 

 

Money

 

 

and Payment

 

 

Consumer

 

 

 

 

 

 

Transfers

 

 

Services

 

 

Services

 

 

Total

 

Regions:

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

1,625.7

 

 

$

101.8

 

 

$

130.4

 

 

$

1,857.9

 

Europe and Russia/CIS

 

 

1,381.3

 

 

 

145.5

 

 

 

6.9

 

 

 

1,533.7

 

Middle East, Africa, and South Asia

 

 

660.8

 

 

 

2.2

 

 

 

0.6

 

 

 

663.6

 

Latin America and the Caribbean

 

 

376.6

 

 

 

3.4

 

 

 

83.1

 

 

 

463.1

 

East Asia and Oceania

 

 

276.5

 

 

 

69.6

 

 

 

1.1

 

 

 

347.2

 

Revenues from contracts with customers

 

$

4,320.9

 

 

$

322.5

 

 

$

222.1

 

 

$

4,865.5

 

Other revenues(a)

 

 

73.1

 

 

 

99.3

 

 

 

32.9

 

 

 

205.3

 

Total revenues

 

$

4,394.0

 

 

$

421.8

 

 

$

255.0

 

 

$

5,070.8

 

 

(a)
Includes revenue from the sale of derivative financial instruments, investment income generated on settlement assets primarily related to money transfer and money order services, impacts from the Company’s foreign currency cash flow hedges, and other sources.
(b)
On August 4, 2021, the Company entered into an agreement to sell its Business Solutions business to Goldfinch Partners LLC and The Baupost Group LLC. The first closing occurred on March 1, 2022, the second occurred on December 31, 2022, and the final closing occurred on July 1, 2023. See Note 4 for further information regarding this transaction.