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Business segment information (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Business segment information

Segment information for the quarters ended March 31, 2023 and 2022 was as follows:

						Quarter Ended March 31,
(in thousands)						2023						2022
Payments:
Revenue						$	171,983					$	166,208
Adjusted EBITDA						36,556						36,435
Data Solutions:
Revenue						58,594						69,497
Adjusted EBITDA						15,317						17,326
Promotional Solutions:
Revenue						136,141						133,243
Adjusted EBITDA						18,810						16,945
Checks:
Revenue						178,647						187,067
Adjusted EBITDA						76,479						82,797
Total segment:
Revenue						$	545,365					$	556,015
Adjusted EBITDA						147,162						153,503

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)						2023						2022
Total segment adjusted EBITDA						$	147,162					$	153,503
Corporate operations						(46,726)						(53,883)
Depreciation and amortization expense						(43,520)						(41,597)
Interest expense						(30,016)						(20,324)
Net income attributable to non-controlling interest						28						36
Restructuring and integration costs						(14,094)						(16,303)
Share-based compensation expense						(5,866)						(8,142)
Acquisition transaction costs						—						(49)
Certain legal-related expense						(429)						(683)
Income before income taxes						$	6,539					$	12,558

Revenue disaggregated by product and service offerings

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

						Quarter Ended March 31, 2023
(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	178,647					$	178,647
Merchant services and other payment solutions						111,509						—						—						—						111,509
Marketing and promotional solutions						—						—						70,651						—						70,651
Forms and other products						—						—						65,490						—						65,490
Treasury management solutions						60,474						—						—						—						60,474
Data-driven marketing solutions						—						39,282						—						—						39,282
Web and hosted solutions						—						19,312						—						—						19,312
Total revenue						$	171,983					$	58,594					$	136,141					$	178,647					$	545,365

						Quarter Ended March 31, 2022
(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	187,067					$	187,067
Merchant services and other payment solutions						108,270						—						—						—						108,270
Marketing and promotional solutions						—						—						62,927						—						62,927
Forms and other products						—						—						70,316						—						70,316
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

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, 2023
(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
United States						$	159,464					$	55,747					$	130,495					$	171,847					$	517,553
Foreign, primarily Canada						12,519						2,847						5,646						6,800						27,812
Total revenue						$	171,983					$	58,594					$	136,141					$	178,647					$	545,365

						Quarter Ended March 31, 2022
(in thousands)						Payments						Data 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

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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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