XML 47 R35.htm IDEA: XBRL DOCUMENT v3.24.1.u1

Business segment information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Business segment information

The following is our segment information for the quarters ended March 31, 2024 and 2023. The segment information for 2023 has been recast to reflect our current segment structure.

						Quarter Ended March 31,
(in thousands)						2024						2023
Merchant Services:
Revenue						$	96,477					$	89,105
Adjusted EBITDA						21,437						18,427
B2B Payments:
Revenue						69,418						75,196
Adjusted EBITDA						13,261						13,475
Data Solutions:
Revenue						59,712						44,353
Adjusted EBITDA						14,869						10,256
Print:
Revenue						303,334						314,040
Adjusted EBITDA						90,956						95,201
Total reportable segments:
Revenue						$	528,941					$	522,694
Adjusted EBITDA						140,523						137,359
All other:(1)
Revenue						6,014						22,671
Adjusted EBITDA						3,636						9,803
Total:
Revenue						$	534,955					$	545,365
Adjusted EBITDA						144,159						147,162

(1) Includes our North American web hosting and logo design businesses, which were sold in June 2023, and our payroll and human resources services business, which we are in the process of exiting (Note 6).

Reconciliation of adjusted EBITDA to income before income taxes

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

						Quarter Ended March 31,
(in thousands)						2024						2023
Total segment adjusted EBITDA						$	144,159					$	147,162
Corporate operations						(43,701)						(46,726)
Depreciation and amortization expense						(41,747)						(43,520)
Interest expense						(30,809)						(30,016)
Net income attributable to non-controlling interest						27						28
Restructuring and integration expense						(14,737)						(14,094)
Share-based compensation expense						(5,121)						(5,866)
Certain legal-related expense						(300)						(429)
Gain on sale of businesses and long-lived assets						8,581						—
Income before income taxes						$	16,352					$	6,539

Revenue disaggregated by product and service offerings

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

						Quarter Ended March 31, 2024
(in thousands)						Merchant Services						B2B Payments						Data Solutions						Print						All Other						Consolidated
Checks						$	—					$	—					$	—					$	178,484					$	—					$	178,484
Merchant services						96,477						—						—						—						—						96,477
Forms and other business products						—						—						—						63,792						—						63,792
Promotional solutions						—						—						—						61,058						—						61,058
Treasury management solutions						—						55,077						—						—						—						55,077
Data-driven marketing						—						—						54,325						—						—						54,325
Other						—						14,341						5,387						—						6,014						25,742
Total revenue						$	96,477					$	69,418					$	59,712					$	303,334					$	6,014					$	534,955

						Quarter Ended March 31, 2023
(in thousands)						Merchant Services						B2B Payments						Data Solutions						Print						All other						Consolidated
Checks						$	—					$	—					$	—					$	178,647					$	—					$	178,647
Merchant services						89,105						—						—						—						—						89,105
Forms and other business products						—						—						—						65,490						—						65,490
Promotional solutions						—						—						—						69,903						748						70,651
Treasury management solutions						—						60,474						—						—						—						60,474
Data-driven marketing						—						—						39,282						—						—						39,282
Other						—						14,722						5,071						—						21,923						41,716
Total revenue						$	89,105					$	75,196					$	44,353					$	314,040					$	22,671					$	545,365

X

- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

+ Details

Name:	us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration