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BUSINESS SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Business segment information

Our segment information for the years ended December 31 was as follows:

(in thousands)						2023						2022						2021
Payments:
Revenue						$	690,704					$	678,580					$	510,359
Adjusted EBITDA						152,798						144,605						105,576
Data Solutions:
Revenue						238,817						267,525						262,310
Adjusted EBITDA						55,700						68,214						70,172
Promotional Solutions:
Revenue						541,650						562,917						546,473
Adjusted EBITDA						80,751						79,549						85,384
Checks:
Revenue						721,089						728,988						703,055
Adjusted EBITDA						320,333						320,498						324,224
Total segments:
Revenue						$	2,192,260					$	2,238,010					$	2,022,197
Adjusted EBITDA						609,582						612,866						585,356

Reconciliation of total segment adjusted EBITDA to consolidated income before income taxes

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

(in thousands)						2023						2022						2021
Total segment adjusted EBITDA						$	609,582					$	612,866					$	585,356
Corporate operations						(192,447)						(194,736)						(177,591)
Depreciation and amortization						(169,703)						(172,552)						(148,767)
Interest expense						(125,643)						(94,454)						(55,554)
Net income attributable to non-controlling interest						107						135						139
Restructuring and integration expense						(90,475)						(63,136)						(58,947)
Share-based compensation expense						(20,525)						(23,676)						(29,477)
Acquisition transaction costs						—						(130)						(18,913)
Certain legal-related (expense) benefit						(2,195)						730						(2,443)
Loss on sale of investment securities						(1,323)						—						—
Gain on sale of businesses and long-lived assets						32,421						19,331						—
Income before income taxes						$	39,799					$	84,378					$	93,803

Revenue disaggregated by product and service offerings

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

						Year Ended December 31, 2023
(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	721,089					$	721,089
Merchant services and other payment solutions						450,384						—						—						—						450,384
Marketing and promotional solutions						—						—						278,200						—						278,200
Forms and other products						—						—						263,450						—						263,450
Treasury management solutions						240,320						—						—						—						240,320
Data-driven marketing solutions						—						192,656						—						—						192,656
Web and hosted solutions						—						46,161						—						—						46,161
Total revenue						$	690,704					$	238,817					$	541,650					$	721,089					$	2,192,260
						Year Ended December 31, 2022
(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	728,988					$	728,988
Merchant services and other payment solutions						437,395						—						—						—						437,395
Marketing and promotional solutions						—						—						272,997						—						272,997
Forms and other products						—						—						289,920						—						289,920
Treasury management solutions						241,185						—						—						—						241,185
Data-driven marketing solutions						—						177,598						—						—						177,598
Web and hosted solutions						—						89,927						—						—						89,927
Total revenue						$	678,580					$	267,525					$	562,917					$	728,988					$	2,238,010
						Year Ended December 31, 2021
(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
Checks						$	—					$	—					$	—					$	703,055					$	703,055
Merchant services and other payment solutions						276,118						—						—						—						276,118
Marketing and promotional solutions						—						—						249,480						—						249,480
Forms and other products						—						—						296,993						—						296,993
Treasury management solutions						234,241						—						—						—						234,241
Data-driven marketing solutions						—						150,772						—						—						150,772
Web and hosted solutions						—						111,538						—						—						111,538
Total revenue						$	510,359					$	262,310					$	546,473					$	703,055					$	2,022,197

Revenue disaggregated by geographic area

The following table presents revenue disaggregated by geography, based on where items are shipped or services are performed. Substantially all of our long-lived assets reside in the U.S. Long-lived assets of our foreign subsidiaries are located primarily in Canada and are not material to our consolidated financial position.

(in thousands)						Payments						Data Solutions						Promotional Solutions						Checks						Consolidated
Year ended December 31, 2023:
U.S.						$	640,769					$	233,090					$	518,929					$	694,864					$	2,087,652
Foreign, primarily Canada						49,935						5,727						22,721						26,225						104,608
Total revenue						$	690,704					$	238,817					$	541,650					$	721,089					$	2,192,260
Year ended December 31, 2022:
U.S.						$	634,945					$	248,227					$	537,643					$	700,170					$	2,120,985
Foreign, primarily Canada and Australia						43,635						19,298						25,274						28,818						117,025
Total revenue						$	678,580					$	267,525					$	562,917					$	728,988					$	2,238,010
Year ended December 31, 2021:
U.S.						$	469,102					$	227,091					$	522,966					$	678,229					$	1,897,388
Foreign, primarily Canada and Australia						41,257						35,219						23,507						24,826						124,809
Total revenue						$	510,359					$	262,310					$	546,473					$	703,055					$	2,022,197

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