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Business segment information (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Business segment information

Segment information for the quarters ended March 31, 2022 and 2021 was as follows:

						Quarter Ended March 31,
(in thousands)						2022						2021
Payments:
Revenue						$	166,208					$	79,438
Adjusted EBITDA						36,435						18,329
Cloud Solutions:
Revenue						69,497						62,220
Adjusted EBITDA						17,326						17,209
Promotional Solutions:
Revenue						133,243						124,507
Adjusted EBITDA						16,945						17,714
Checks:
Revenue						187,067						175,099
Adjusted EBITDA						82,797						83,534
Total segment:
Revenue						$	556,015					$	441,264
Adjusted EBITDA						153,503						136,786

Reconciliation of adjusted EBITDA to pretax income

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

						Quarter Ended March 31,
(in thousands)						2022						2021
Total segment adjusted EBITDA						$	153,503					$	136,786
Corporate operations						(53,883)						(46,281)
Depreciation and amortization expense						(41,597)						(27,780)
Interest expense						(20,324)						(4,524)
Net income attributable to non-controlling interest						36						33
Restructuring, integration and other costs						(16,303)						(15,212)
Share-based compensation expense						(8,142)						(6,742)
Acquisition transaction costs						(49)						(2,765)
Certain legal-related expense						(683)						—
Income before income taxes						$	12,558					$	33,515

Revenue disaggregated by product and service offerings

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

						Quarter Ended March 31, 2022
(in thousands)						Payments						Cloud Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	187,067					$	187,067
Merchant services and other payment solutions						108,270						—						—						—						108,270
Forms and other products						—						—						70,316						—						70,316
Marketing and promotional solutions						—						—						62,927						—						62,927
Treasury management solutions						57,938						—						—						—						57,938
Data-driven marketing solutions						—						41,843						—						—						41,843
Web and hosted solutions						—						27,654						—						—						27,654
Total revenue						$	166,208					$	69,497					$	133,243					$	187,067					$	556,015

						Quarter Ended March 31, 2021
(in thousands)						Payments						Cloud Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	175,099					$	175,099
Merchant services and other payment solutions						20,302						—						—						—						20,302
Forms and other products						—						—						71,781						—						71,781
Marketing and promotional solutions						—						—						52,726						—						52,726
Treasury management solutions						59,136						—						—						—						59,136
Data-driven marketing solutions						—						33,646						—						—						33,646
Web and hosted solutions						—						28,574						—						—						28,574
Total revenue						$	79,438					$	62,220					$	124,507					$	175,099					$	441,264

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 March 31, 2022
(in thousands)						Payments						Cloud Solutions						Promotional Solutions						Checks						Consolidated
United States						$	156,268					$	60,624					$	127,242					$	179,088					$	523,222
Foreign, primarily Canada and Australia						9,940						8,873						6,001						7,979						32,793
Total revenue						$	166,208					$	69,497					$	133,243					$	187,067					$	556,015

						Quarter Ended March 31, 2021
(in thousands)						Payments						Cloud Solutions						Promotional Solutions						Checks						Consolidated
United States						$	68,484					$	53,512					$	119,148					$	169,014					$	410,158
Foreign, primarily Canada and Australia						10,954						8,708						5,359						6,085						31,106
Total revenue						$	79,438					$	62,220					$	124,507					$	175,099					$	441,264

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- Definition

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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