Segment Information

3 Months Ended

Mar. 31, 2018

Segment Information [Abstract]

Segment Information

SEGMENT INFORMATION

The Company’s reportable operating segments have been determined in accordance with ASC Topic 280, Segment Reporting. The Company currently operates in the following three reportable operating segments:

1) Through the EFT Processing Segment, the Company processes transactions for a network of ATMs and POS terminals across Europe, the Middle East and Asia Pacific. The Company provides comprehensive electronic payment solutions consisting of ATM cash withdrawal services, ATM network participation, outsourced ATM and POS management solutions, credit and debit card outsourcing, dynamic currency conversion and other value added services. Through this segment, the Company also offers a suite of integrated electronic financial transaction software solutions for electronic payment and transaction delivery systems.

2) Through the epay Segment, the Company provides distribution, processing and collection services for prepaid mobile airtime and other electronic payment products in Europe, the Middle East, Asia Pacific, the United States and South America.

3) Through the Money Transfer Segment, the Company provides global money transfer services under the brand names Ria, HiFX, IME and xe. Ria and IME provide global consumer-to-consumer money transfer services through a network of sending agents, Company-owned stores and Company-owned websites, disbursing money transfers through a worldwide correspondent network. HiFX offers account-to-account international payment services to high-income individuals and small-to-medium sized businesses. xe is a provider of foreign currency exchange information and offers money transfers on its currency data websites. The Company also offers customers bill payment services, payment alternatives such as money orders and prepaid debit cards, comprehensive check cashing services, foreign currency exchange services and mobile top-up. The Company provides cash management solutions and foreign currency risk management services to small-to-medium sized businesses under the brand name HiFM.

In addition, the Company accounts for non-operating activity, most share-based compensation expense, certain intersegment eliminations and the costs of providing corporate and other administrative services in its administrative division, “Corporate Services, Eliminations and Other.” These services are not directly identifiable with the Company’s reportable operating segments.

The following tables present the Company’s reportable segment results for the three months ended March 31, 2018 and 2017:

	For the Three Months Ended March 31, 2018
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	135,704	$	176,845	$	238,836	$	(870	)	$	550,515
Operating expenses:
Direct operating costs	81,837		134,922		127,431		(866		)	343,324
Salaries and benefits	17,005		14,417		47,357		6,927			85,706
Selling, general and administrative	9,115		8,733		29,699		2,464			50,011
Depreciation and amortization	16,200		1,878		7,895		29			26,002
Total operating expenses	124,157		159,950		212,382		8,554			505,043
Operating income (expense)	$	11,547	$	16,895	$	26,454	$	(9,424	)	$	45,472

	For the Three Months Ended March 31, 2017
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	105,752	$	164,170	$	203,973	$	(515	)	$	473,380
Operating expenses:
Direct operating costs	62,073		126,160		108,885		(511		)	296,607
Salaries and benefits	13,746		12,595		38,889		6,633			71,863
Selling, general and administrative	7,186		8,960		22,813		3,028			41,987
Depreciation and amortization	11,785		2,533		7,291		28			21,637
Total operating expenses	94,790		150,248		177,878		9,178			432,094
Operating income (expense)	$	10,962	$	13,922	$	26,095	$	(9,693	)	$	41,286

The following table presents the Company’s property and equipment and total assets by reportable segment:

	Property and Equipment, net as of				Total Assets as of
(in thousands)	March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017
EFT Processing	$	207,284	$	196,451	$	1,224,959	$	1,040,135
epay	29,261		28,135		624,573		695,990
Money Transfer	43,974		43,564		1,301,563		1,255,765
Corporate Services, Eliminations and Other	87		153		6,280		148,139
Total	$	280,606	$	268,303	$	3,157,375	$	3,140,029