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Business segment information (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Business segment information

Segment information for the quarters and six months ended June 30, 2023 and 2022 was as follows:

						Quarter Ended June 30,												Six Months Ended June 30,
(in thousands)						2023						2022						2023						2022
Payments:
Revenue						$	174,372					$	171,154					$	346,355					$	337,362
Adjusted EBITDA						36,318						34,986						72,873						71,421
Data Solutions:
Revenue						72,090						68,587						130,683						138,084
Adjusted EBITDA						17,741						17,509						33,058						34,836
Promotional Solutions:
Revenue						138,800						139,276						274,942						272,519
Adjusted EBITDA						21,239						14,596						40,049						31,540
Checks:
Revenue						186,424						183,936						365,071						371,003
Adjusted EBITDA						83,585						82,564						160,064						165,360
Total segment:
Revenue						$	571,686					$	562,953					$	1,117,051					$	1,118,968
Adjusted EBITDA						158,883						149,655						306,044						303,157

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 June 30,												Six Months Ended June 30,
(in thousands)						2023						2022						2023						2022
Total segment adjusted EBITDA						$	158,883					$	149,655					$	306,044					$	303,157
Corporate operations						(50,511)						(47,918)						(97,236)						(101,801)
Depreciation and amortization expense						(42,607)						(45,047)						(86,128)						(86,644)
Interest expense						(31,932)						(21,349)						(61,948)						(41,672)
Net income attributable to non-controlling interest						26						35						54						71
Restructuring and integration costs						(27,477)						(15,208)						(41,571)						(31,511)
Share-based compensation expense						(5,484)						(4,896)						(11,350)						(13,038)
Acquisition transaction costs						—						(12)						—						(61)
Certain legal-related benefit (expense)						183						(162)						(245)						(845)
Gain on sale of businesses and facility						21,942						17,527						21,942						17,527
Income before income taxes						$	23,023					$	32,625					$	29,562					$	45,183

Revenue disaggregated by product and service offerings

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

						Quarter Ended June 30, 2023
(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	186,424					$	186,424
Merchant services and other payment solutions						113,206						—						—						—						113,206
Marketing and promotional solutions						—						—						72,037						—						72,037
Forms and other products						—						—						66,763						—						66,763
Treasury management solutions						61,166						—						—						—						61,166
Data-driven marketing solutions						—						54,503						—						—						54,503
Web and hosted solutions						—						17,587						—						—						17,587
Total revenue						$	174,372					$	72,090					$	138,800					$	186,424					$	571,686

						Quarter Ended June 30, 2022
(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	183,936					$	183,936
Merchant services and other payment solutions						111,619						—						—						—						111,619
Marketing and promotional solutions						—						—						69,872						—						69,872
Forms and other products						—						—						69,404						—						69,404
Treasury management solutions						59,535						—						—						—						59,535
Data-driven marketing solutions						—						45,470						—						—						45,470
Web and hosted solutions						—						23,117						—						—						23,117
Total revenue						$	171,154					$	68,587					$	139,276					$	183,936					$	562,953

						Six Months Ended June 30, 2023
(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	365,071					$	365,071
Merchant services and other payment solutions						224,715						—						—						—						224,715
Marketing and promotional solutions						—						—						142,689						—						142,689
Forms and other products						—						—						132,253						—						132,253
Treasury management solutions						121,640						—						—						—						121,640
Data-driven marketing solutions						—						93,785						—						—						93,785
Web and hosted solutions						—						36,898						—						—						36,898
Total revenue						$	346,355					$	130,683					$	274,942					$	365,071					$	1,117,051

						Six Months Ended June 30, 2022
(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	371,003					$	371,003
Merchant services and other payment solutions						219,889						—						—						—						219,889
Marketing and promotional solutions						—						—						132,799						—						132,799
Forms and other products						—						—						139,720						—						139,720
Treasury management solutions						117,473						—						—						—						117,473
Data-driven marketing solutions						—						87,313						—						—						87,313
Web and hosted solutions						—						50,771						—						—						50,771
Total revenue						$	337,362					$	138,084					$	272,519					$	371,003					$	1,118,968

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 June 30, 2023
(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
United States						$	162,422					$	69,211					$	132,175					$	179,692					$	543,500
Foreign, primarily Canada						11,950						2,879						6,625						6,732						28,186
Total revenue						$	174,372					$	72,090					$	138,800					$	186,424					$	571,686

						Quarter Ended June 30, 2022
(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
United States						$	159,939					$	63,758					$	132,886					$	176,692					$	533,275
Foreign, primarily Canada and Australia						11,215						4,829						6,390						7,244						29,678
Total revenue						$	171,154					$	68,587					$	139,276					$	183,936					$	562,953

						Six Months Ended June 30, 2023
(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
United States						$	321,886					$	124,956					$	262,671					$	351,539					$	1,061,052
Foreign, primarily Canada						24,469						5,727						12,271						13,532						55,999
Total revenue						$	346,355					$	130,683					$	274,942					$	365,071					$	1,117,051

						Six Months Ended June 30, 2022
(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
United States						$	316,207					$	124,382					$	260,128					$	355,780					$	1,056,497
Foreign, primarily Canada and Australia						21,155						13,702						12,391						15,223						62,471
Total revenue						$	337,362					$	138,084					$	272,519					$	371,003					$	1,118,968

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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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