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Business segment information (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Business segment information

Segment information for the quarters and nine months ended September 30, 2021 and 2020 was as follows:

						Quarter Ended September 30,												Nine Months Ended September 30,
(in thousands)						2021						2020						2021						2020
Payments:
Revenue						$	160,268					$	74,675					$	343,045					$	223,886
Adjusted EBITDA						31,598						16,746						71,125						50,352
Cloud Solutions:
Revenue						69,497						63,758						199,784						193,600
Adjusted EBITDA						19,036						16,425						55,047						45,494
Promotional Solutions:
Revenue						130,330						124,929						389,825						385,667
Adjusted EBITDA						17,673						21,478						56,804						46,529
Checks:
Revenue						172,046						176,099						518,968						533,135
Adjusted EBITDA						77,254						84,954						240,979						258,392
Total segment:
Revenue						$	532,141					$	439,461					$	1,451,622					$	1,336,288
Adjusted EBITDA						145,561						139,603						423,955						400,767

Reconciliation of adjusted EBITDA to pretax income (loss)

The following table presents a reconciliation of total segment adjusted EBITDA to consolidated income (loss) before income taxes:

						Quarter Ended September 30,												Nine Months Ended September 30,
(in thousands)						2021						2020						2021						2020
Total segment adjusted EBITDA						$	145,561					$	139,603					$	423,955					$	400,767
Corporate operations						(42,832)						(37,090)						(133,259)						(131,101)
Depreciation and amortization expense						(41,906)						(27,972)						(102,929)						(83,065)
Interest expense						(21,494)						(5,083)						(35,548)						(18,254)
Pretax income attributable to non-controlling interest						37						21						99						46
Asset impairment charges						—						(2,760)						—						(101,749)
Restructuring, integration and other costs						(13,894)						(18,941)						(41,085)						(59,064)
CEO transition costs						—						—						—						(10)
Share-based compensation expense						(7,434)						(6,240)						(21,801)						(15,335)
Acquisition transaction costs						(208)						—						(18,816)						(9)
Certain legal-related (expense) benefit						(638)						—						(941)						2,165
Loss on sales of customer lists						—						—						—						(18)
Income (loss) before income taxes						$	17,192					$	41,538					$	69,675					$	(5,627)

Revenue disaggregated by product and service offerings

e following tables present revenue disaggregated by our product and service offerings:

						Quarter Ended September 30, 2021
(in thousands)						Payments						Cloud Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	172,046					$	172,046
Merchant services and other payments solutions						103,014						—						—						—						103,014
Forms and other products						—						—						68,646						—						68,646
Marketing and promotional solutions						—						—						61,684						—						61,684
Treasury management solutions						57,254						—						—						—						57,254
Data-driven marketing solutions						—						41,956						—						—						41,956
Web and hosted solutions						—						27,541						—						—						27,541
Total revenue						$	160,268					$	69,497					$	130,330					$	172,046					$	532,141

						Quarter Ended September 30, 2020
(in thousands)						Payments						Cloud Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	176,099					$	176,099
Merchant services and other payments solutions						19,257						—						—						—						19,257
Forms and other products						—						—						77,492						—						77,492
Marketing and promotional solutions						—						—						47,437						—						47,437
Treasury management solutions						55,418						—						—						—						55,418
Data-driven marketing solutions						—						30,508						—						—						30,508
Web and hosted solutions						—						33,250						—						—						33,250
Total revenue						$	74,675					$	63,758					$	124,929					$	176,099					$	439,461

						Nine Months Ended September 30, 2021
(in thousands)						Payments						Cloud Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	518,968					$	518,968
Merchant services and other payments solutions						170,431						—						—						—						170,431
Forms and other products						—						—						218,622						—						218,622
Marketing and promotional solutions						—						—						171,203						—						171,203
Treasury management solutions						172,614						—						—						—						172,614
Data-driven marketing solutions						—						115,120						—						—						115,120
Web and hosted solutions						—						84,664						—						—						84,664
Total revenue						$	343,045					$	199,784					$	389,825					$	518,968					$	1,451,622

						Nine Months Ended September 30, 2020
(in thousands)						Payments						Cloud Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	533,135					$	533,135
Merchant services and other payments solutions						56,808						—						—						—						56,808
Forms and other products						—						—						234,735						—						234,735
Marketing and promotional solutions						—						—						150,932						—						150,932
Treasury management solutions						167,078						—						—						—						167,078
Data-driven marketing solutions						—						88,927						—						—						88,927
Web and hosted solutions						—						104,673						—						—						104,673
Total revenue						$	223,886					$	193,600					$	385,667					$	533,135					$	1,336,288

Revenue disaggregated by geography

The following tables present revenue disaggregated by geography, based on where items are shipped from or where services are performed:

						Quarter Ended September 30, 2021
(in thousands)						Payments						Cloud Solutions						Promotional Solutions						Checks						Consolidated
United States						$	150,594					$	60,778					$	124,571					$	166,339					$	502,282
Foreign, primarily Canada and Australia						9,674						8,719						5,759						5,707						29,859
Total revenue						$	160,268					$	69,497					$	130,330					$	172,046					$	532,141

						Quarter Ended September 30, 2020
(in thousands)						Payments						Cloud Solutions						Promotional Solutions						Checks						Consolidated
United States						$	66,377					$	55,755					$	118,454					$	170,865					$	411,451
Foreign, primarily Canada and Australia						8,298						8,003						6,475						5,234						28,010
Total revenue						$	74,675					$	63,758					$	124,929					$	176,099					$	439,461

						Nine Months Ended September 30, 2021
(in thousands)						Payments						Cloud Solutions						Promotional Solutions						Checks						Consolidated
United States						$	312,874					$	173,555					$	373,042					$	501,152					$	1,360,623
Foreign, primarily Canada and Australia						30,171						26,229						16,783						17,816						90,999
Total revenue						$	343,045					$	199,784					$	389,825					$	518,968					$	1,451,622

						Nine Months Ended September 30, 2020
(in thousands)						Payments						Cloud Solutions						Promotional Solutions						Checks						Consolidated
United States						$	198,965					$	169,917					$	369,023					$	516,961					$	1,254,866
Foreign, primarily Canada and Australia						24,921						23,683						16,644						16,174						81,422
Total revenue						$	223,886					$	193,600					$	385,667					$	533,135					$	1,336,288

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Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

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