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Segment Information
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has three reportable segments:
•SMB Payments – Provides full-service acquiring and payment-enabled solutions for B2C transactions, leveraging Priority's proprietary software platform, distributed through ISO, direct sales and vertically focused ISV channels.
•B2B Payments – provides market-leading AP automation solutions to corporations, software partners and industry leading FIs (including Citibank and Mastercard) in addition to working improving cash flow by providing instant access to working capital.
•Enterprise Payments – Provides embedded finance and treasury solutions to enterprise customers to modernize legacy platforms and accelerate software partners' strategies to monetize payments.
Corporate includes costs of corporate functions and shared services not allocated to our reportable segments.
In January 2024, the Company changed the grouping of certain business activity to conform to the way we internally manage and monitor the business. As a result, certain immaterial activity was reassigned from the SMB Payments segment to the Enterprise Payments segment effective January 1, 2024. Impact on prior year segment results were determined to be immaterial and have not been reclassified to reflect this change.
Information on reportable segments and reconciliations to consolidated revenues, consolidated depreciation and amortization, and consolidated operating income are as follows:
(in thousands)Three Months Ended March 31,
20242023
Revenues:
SMB Payments$143,751 $154,933 
B2B Payments21,115 2,786 
Enterprise Payments40,853 27,309 
Consolidated revenues$205,719 $185,028 
Depreciation and amortization:
SMB Payments$8,802 $10,846 
B2B Payments1,640 125 
Enterprise Payments4,356 6,690 
Corporate455 387 
Consolidated depreciation and amortization$15,253 $18,048 
Operating income (loss):
SMB Payments$12,383 $12,011 
B2B Payments(793)(849)
Enterprise Payments25,547 12,663 
Corporate(9,114)(6,977)
Consolidated operating income$28,023 $16,848 

A reconciliation of total operating income of reportable segments to the Company's net (loss) income is provided in the following table:
(in thousands)Three Months Ended March 31,
20242023
Total operating income of reportable segments$37,137 $23,825 
Corporate(9,114)(6,977)
Interest expense(20,880)(17,699)
Other income, net632 212 
Income tax (expense) benefit (2,582)133 
Net income (loss)$5,193 $(506)