17. Operating segments

The Company discloses segment information as reflected in the management information systems reports that its chief operating decision maker uses in making decisions and to report certain entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets or reports material revenues. A description of the Company's operating segments is contained in Note 22 to the Company's audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended June 30, 2018.

The reconciliation of the reportable segment's revenue to revenue from external customers for the three months ended December 31, 2018 and 2017, is as follows:


	Revenue
						From
		Reportable		Inter-		external
		Segment		segment		customers
South African transaction processing	$	21,970	$	1,167	$	20,803
International transaction processing		38,124		-		38,124
Financial inclusion and applied technologies		38,755		532		38,223
Total for the three months ended December 31, 2018	$	98,849	$	1,699	$	97,150

South African transaction processing	$	64,148	$	6,181	$	57,967
International transaction processing		44,185		-		44,185
Financial inclusion and applied technologies		54,131		7,867		46,264
Total for the three months ended December 31, 2017	$	162,464	$	14,048	$	148,416

The reconciliation of the reportable segment's revenue to revenue from external customers for the six months ended December 31, 2018 and 2017, is as follows:


	Revenue
						From
		Reportable		Inter-		external
		Segment		segment		customers
South African transaction processing	$	59,719	$	4,453	$	55,266
International transaction processing		77,511		-		77,511
Financial inclusion and applied technologies		91,961		1,704		90,257
Total for the six months ended December 31, 2018	$	229,191	$	6,157	$	223,034

South African transaction processing	$	130,585	$	12,326	$	118,259
International transaction processing		90,207		-		90,207
Financial inclusion and applied technologies		108,444		15,936		92,508
Total for the six months ended December 31, 2017	$	329,236	$	28,262	$	300,974

The Company does not allocate interest income, interest expense or income tax expense to its reportable segments. The Company evaluates segment performance based on segment operating income before acquisition-related intangible asset amortization which represents operating income before acquisition-related intangible asset amortization and allocation of expenses allocated to Corporate/Eliminations, all under GAAP.

The reconciliation of the reportable segments measures of profit or loss to income before income taxes for the three and six months ended December 31, 2018 and 2017, is as follows:


		Three months ended						Six months ended
		December 31,						December 31,
		2018			2017			2018			2017
Reportable segments measure of profit or loss	($	34,411	)	$	21,216		($	23,860	)	$	52,784
Operating income: Corporate/Eliminations		(8,664	)		(4,909	)		(18,319	)		(11,471	)
Change in value of equity securities		(15,836	)		-			(15,836	)		-
Interest income, net of impairment		(331	)		4,705			1,545			9,749
Interest expense		(2,778	)		(2,325	)		(5,537	)		(4,446	)
(Loss) Income before income taxes	($	62,020	)	$	18,687		($	62,007	)	$	46,616

The following tables summarize segment information that is prepared in accordance with GAAP for the three and six months ended December 31, 2018 and 2017:


		Three months ended						Six months ended
		December 31,						December 31,
		2018			2017			2018			2017
Revenues
South African transaction processing	$	21,970		$	64,148		$	59,719			130,585
International transaction processing		38,124			44,185			77,511			90,207
Financial inclusion and applied technologies		38,755			54,131			91,961			108,444
Total		98,849			162,464			229,191			329,236
Operating income (loss)
South African transaction processing		(11,830	)		13,470			(15,343	)		25,802
International transaction processing		(4,043)			(4,991	)		(1,281)			325
Financial inclusion and applied technologies		(18,538	)		12,737			(7,236	)		26,657
Subtotal: Operating segments		(34,411	)		21,216			(23,860	)		52,784
Corporate/Eliminations		(8,664	)		(4,909	)		(18,319	)		(11,471	)
Total	$	(43,075	)	$	16,307		$	(42,179	)	$	41,313
Depreciation and amortization
South African transaction processing	$	921	$		1,087		$	1,862	$		2,240
International transaction processing		2,511			4,381			5,570			9,013
Financial inclusion and applied technologies		405			309			1,041			664
Subtotal: Operating segments		3,837			5,777			8,473			11,917
Corporate/Eliminations		6,016			2,946			12,174			5,772
Total		9,853			8,723			20,647			17,689
Expenditures for long-lived assets
South African transaction processing		1,047			900			2,333			1,377
International transaction processing		841			892			1,641			1,798
Financial inclusion and applied technologies		659			311			1,691			401
Subtotal: Operating segments		2,547			2,103			5,665			3,576
Corporate/Eliminations		-			-			-			-
Total	$	2,547	$		2,103		$	5,665	$		3,576

The segment information as reviewed by the chief operating decision maker does not include a measure of segment assets per segment as all of the significant assets are used in the operations of all, rather than any one, of the segments. The Company does not have dedicated assets assigned to a particular operating segment. Accordingly, it is not meaningful to attempt an arbitrary allocation and segment asset allocation is therefore not presented.

It is impractical to disclose revenues from external customers for each product and service or each group of similar products and services.