XML 42 R31.htm IDEA: XBRL DOCUMENT
v3.25.2

Business segment information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Segment Reporting [Abstract] |
Business segment information | The following is our segment information for the quarters and six months ended June 30, 2025 and June 30, 2024:
|  | Quarter Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Merchant Services: |  |  |  |  |  |  |  |
Revenue |  | $ | 101,404 |  |  | $ | 98,527 |  |  | $ | 199,173 |  |  | $ | 195,004 |
Other segment items |  | (79,667) |  |  | (79,339) |  |  | (156,058) |  |  | (154,379) |
Adjusted EBITDA |  | 21,737 |  |  | 19,188 |  |  | 43,115 |  |  | 40,625 |
B2B Payments: |  |  |  |  |  |  |  |
Revenue |  | $ | 70,982 |  |  | 70,230 |  |  | $ | 141,137 |  |  | 139,648 |
Other segment items |  | (55,367) |  |  | (56,218) |  |  | (112,200) |  |  | (112,375) |
Adjusted EBITDA |  | 15,615 |  |  | 14,012 |  |  | 28,937 |  |  | 27,273 |
Data Solutions: |  |  |  |  |  |  |  |
Revenue |  | $ | 67,829 |  |  | 57,393 |  |  | $ | 145,056 |  |  | 117,104 |
Other segment items |  | (47,462) |  |  | (41,597) |  |  | (104,996) |  |  | (86,439) |
Adjusted EBITDA |  | 20,367 |  |  | 15,796 |  |  | 40,060 |  |  | 30,665 |
Print: |  |  |  |  |  |  |  |
Revenue |  | $ | 281,047 |  |  | 308,745 |  |  | $ | 572,351 |  |  | 612,079 |
Other segment items |  | (190,695) |  |  | (214,882) |  |  | (391,165) |  |  | (427,260) |
Adjusted EBITDA |  | 90,352 |  |  | 93,863 |  |  | 181,186 |  |  | 184,819 |
Total reportable segments: |  |  |  |  |  |  |  |
Revenue |  | $ | 521,262 |  |  | $ | 534,895 |  |  | $ | 1,057,717 |  |  | $ | 1,063,835 |
Other segment items |  | (373,191) |  |  | (392,036) |  |  | (764,419) |  |  | (780,453) |
Adjusted EBITDA |  | 148,071 |  |  | 142,859 |  |  | 293,298 |  |  | 283,382 |
All other:(1) |  |  |  |  |  |  |  |
Revenue |  | $ | — |  |  | 2,921 |  |  | $ | 16 |  |  | 8,935 |
Other segment items |  | — |  |  | (1,333) |  |  | (52) |  |  | (3,710) |
Adjusted EBITDA |  | — |  |  | 1,588 |  |  | (36) |  |  | 5,225 |
Total: |  |  |  |  |  |  |  |
Revenue |  | $ | 521,262 |  |  | $ | 537,816 |  |  | $ | 1,057,733 |  |  | $ | 1,072,770 |
Other segment items |  | (373,191) |  |  | (393,369) |  |  | (764,471) |  |  | (784,163) |
Adjusted EBITDA |  | 148,071 |  |  | 144,447 |  |  | 293,262 |  |  | 288,607 |
(1) Includes the payroll and human resources services business, which we substantially exited during 2024 (Note 6).
Reconciliation of adjusted EBITDA to income before income taxes | The following table presents the reconciliation of total segment adjusted EBITDA to consolidated income before income taxes:
|  | Quarter Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Total segment adjusted EBITDA |  | $ | 148,071 |  |  | $ | 144,447 |  |  | $ | 293,262 |  |  | $ | 288,607 |
Corporate operations |  | (41,609) |  |  | (41,061) |  |  | (86,630) |  |  | (84,763) |
Depreciation and amortization expense |  | (33,477) |  |  | (41,692) |  |  | (68,756) |  |  | (83,439) |
Interest expense |  | (30,944) |  |  | (30,197) |  |  | (62,210) |  |  | (61,006) |
Net income attributable to non-controlling interest |  | 37 |  |  | 38 |  |  | 72 |  |  | 65 |
Restructuring and integration expense |  | (4,236) |  |  | (11,029) |  |  | (12,656) |  |  | (25,766) |
Share-based compensation expense |  | (6,172) |  |  | (5,009) |  |  | (11,631) |  |  | (10,130) |
Certain legal and environmental expense |  | — |  |  | — |  |  | (512) |  |  | (300) |
Gain on sale of businesses and long-lived assets |  | — |  |  | 15,401 |  |  | — |  |  | 23,982 |
Income before income taxes |  | $ | 31,670 |  |  | $ | 30,898 |  |  | $ | 50,939 |  |  | $ | 47,250 |
Revenue disaggregated by product and service offerings | The following tables present revenue disaggregated by our product and service offerings:
|  | Quarter Ended June 30, 2025
(in thousands) |  | Merchant Services |  | B2B Payments |  | Data Solutions |  | Print |  | All Other |  | Consolidated
Checks |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 173,674 |  |  | $ | — |  |  | $ | 173,674 |
Merchant services |  | 101,404 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 101,404 |
Data-driven marketing |  | — |  |  | — |  |  | 62,988 |  |  | — |  |  | — |  |  | 62,988 |
Treasury management solutions |  | — |  |  | 54,484 |  |  | — |  |  | — |  |  | — |  |  | 54,484 |
Forms and other business products |  | — |  |  | — |  |  | — |  |  | 54,178 |  |  | — |  |  | 54,178 |
Promotional solutions |  | — |  |  | — |  |  | — |  |  | 53,195 |  |  | — |  |  | 53,195 |
Other payment solutions |  | — |  |  | 16,498 |  |  | — |  |  | — |  |  | — |  |  | 16,498 |
Other web-based solutions |  | — |  |  | — |  |  | 4,841 |  |  | — |  |  | — |  |  | 4,841 |
Total revenue |  | $ | 101,404 |  |  | $ | 70,982 |  |  | $ | 67,829 |  |  | $ | 281,047 |  |  | $ | — |  |  | $ | 521,262 |
|  | Quarter Ended June 30, 2024
(in thousands) |  | Merchant Services |  | B2B Payments |  | Data Solutions |  | Print |  | All other |  | Consolidated
Checks |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 179,360 |  |  | $ | — |  |  | $ | 179,360 |
Merchant services |  | 98,527 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 98,527 |
Data-driven marketing |  | — |  |  | — |  |  | 52,495 |  |  | — |  |  | — |  |  | 52,495 |
Treasury management solutions |  | — |  |  | 55,349 |  |  | — |  |  | — |  |  | — |  |  | 55,349 |
Forms and other business products |  | — |  |  | — |  |  | — |  |  | 58,364 |  |  | — |  |  | 58,364 |
Promotional solutions |  | — |  |  | — |  |  | — |  |  | 71,021 |  |  | — |  |  | 71,021 |
Other payment solutions |  |  |  | 14,881 |  |  |  |  |  |  | — |  |  | 14,881 |
Other web-based solutions |  |  |  |  |  | 4,898 |  |  |  |  | — |  |  | 4,898 |
Other |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,921 |  |  | 2,921 |
Total revenue |  | $ | 98,527 |  |  | $ | 70,230 |  |  | $ | 57,393 |  |  | $ | 308,745 |  |  | $ | 2,921 |  |  | $ | 537,816 |
|  | Six Months Ended June 30, 2025
(in thousands) |  | Merchant Services |  | B2B Payments |  | Data Solutions |  | Print |  | All Other |  | Consolidated
Checks |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 348,883 |  |  | $ | — |  |  | $ | 348,883 |
Merchant services |  | 199,173 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 199,173 |
Data-driven marketing |  | — |  |  | — |  |  | 134,982 |  |  | — |  |  | — |  |  | 134,982 |
Forms and other business products |  | — |  |  | — |  |  | — |  |  | 114,708 |  |  | — |  |  | 114,708 |
Treasury management solutions |  | — |  |  | 108,796 |  |  | — |  |  | — |  |  | — |  |  | 108,796 |
Promotional solutions |  | — |  |  | — |  |  | — |  |  | 108,760 |  |  | — |  |  | 108,760 |
Other payment solutions |  | — |  |  | 32,341 |  |  | — |  |  | — |  |  | — |  |  | 32,341 |
Other web-based solutions |  | — |  |  | — |  |  | 10,074 |  |  | — |  |  | — |  |  | 10,074 |
Other |  | — |  |  | — |  |  | — |  |  | — |  |  | 16 |  |  | 16 |
Total revenue |  | $ | 199,173 |  |  | $ | 141,137 |  |  | $ | 145,056 |  |  | $ | 572,351 |  |  | $ | 16 |  |  | $ | 1,057,733 |
|  | Six Months Ended June 30, 2024
(in thousands) |  | Merchant Services |  | B2B Payments |  | Data Solutions |  | Print |  | All Other |  | Consolidated
Checks |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 357,844 |  |  | $ | — |  |  | $ | 357,844 |
Merchant services |  | 195,004 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 195,004 |
Data-driven marketing |  | — |  |  | — |  |  | 106,819 |  |  | — |  |  | — |  |  | 106,819 |
Forms and other business products |  | — |  |  | — |  |  | — |  |  | 122,156 |  |  | — |  |  | 122,156 |
Treasury management solutions |  | — |  |  | 110,426 |  |  | — |  |  | — |  |  | — |  |  | 110,426 |
Promotional solutions |  | — |  |  | — |  |  | — |  |  | 132,079 |  |  | — |  |  | 132,079 |
Other payment solutions |  | — |  |  | 29,222 |  |  | — |  |  | — |  |  | — |  |  | 29,222 |
Other web-based solutions |  | — |  |  | — |  |  | 10,285 |  |  | — |  |  | — |  |  | 10,285 |
Other |  | — |  |  | — |  |  | — |  |  | — |  |  | 8,935 |  |  | 8,935 |
Total revenue |  | $ | 195,004 |  |  | $ | 139,648 |  |  | $ | 117,104 |  |  | $ | 612,079 |  |  | $ | 8,935 |  |  | $ | 1,072,770 |

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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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