Business Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Business Segment Information

Euronet's reportable operating segments have been determined in accordance with ASC Topic 280, Segment Reporting ("ASC 280"). 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, Africa, Asia Pacific and the United States. The Company provides comprehensive electronic payment solutions consisting of ATM cash withdrawal services, ATM network participation, outsourced ATM and POS management solutions, credit, debit and prepaid card outsourcing, dynamic currency conversion, domestic and international surcharges 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 U.S. and South America.

3) Through the Money Transfer Segment, the Company provides global money transfer services under the brand names Ria, AFEX, IME, and xe. Ria, AFEX, 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. xe offers account-to-account international payment services to high-income individuals and small-to-medium sized businesses. xe is also a provider of foreign currency exchange information. 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. Furthermore, xe provides cash management solutions and foreign currency risk management services to small-to-medium sized businesses.

In addition, the Company accounts for non-operating activity, 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. 

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The following tables present the Company's reportable segment results for the years ended December 31, 2021, 2020 and 2019:

	For the Year Ended December 31, 2021
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other		Consolidated
Total revenues	$	591,138	$	1,011,482	$	1,400,957	$	(8,134)	$	2,995,443
Operating expenses:
Direct operating costs	354,254		760,891		793,218		(8,096)		1,900,267
Acquired contract cost impairment	—		—		38,634		—		38,634
Salaries and benefits	98,584		79,451		255,816		50,988		484,839
Selling, general and administrative	47,832		39,602		157,955		6,544		251,933
Depreciation and amortization	90,969		8,501		35,739		545		135,754
Total operating expenses	591,639		888,445		1,281,362		49,981		2,811,427
Operating income (expense)	$	(501)	$	123,037	$	119,595	$	(58,115)	$	184,016
Other income (expense)
Interest income									664
Interest expense									(38,198)
Foreign currency exchange loss, net									(10,866)
Other gains, net									59
Total other expense, net									(48,341)
Income before income taxes									$	135,675
Segment assets as of December 31, 2021	$	1,682,680	$	1,234,074	$	1,621,726	$	205,796	$	4,744,276

	For the Year Ended December 31, 2020
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	468,726	$	835,517	$	1,183,849	$	(5,392	)	$	2,482,700
Operating expenses:
Direct operating costs	302,637		630,391		649,033		(5,362		)	1,576,699
Salaries and benefits	91,526		64,769		213,511		34,336			404,142
Selling, general and administrative	35,388		35,789		142,161		8,276			221,614
Goodwill and acquired intangible assets impairment	21,861		—		84,741		—			106,602
Depreciation and amortization	84,025		7,890		34,694		412			127,021
Total operating expenses	535,437		738,839		1,124,140		37,662			2,436,078
Operating income (expense)	$	(66,711)	$	96,678	$	59,709	$	(43,054	)	$	46,622
Other income (expense)
Interest income										1,040
Interest expense										(36,604		)
Foreign currency exchange gain, net										(3,756)
Other gains, net										869
Total other expense, net										(38,451		)
Income before income taxes										$	8,171
Segment assets as of December 31, 2020	$	1,541,610	$	1,135,204	$	1,755,651	$	494,246		$	4,926,711

	For the Year Ended December 31, 2019
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	888,712	$	769,329	$	1,096,226	$	(4,158	)	$	2,750,109
Operating expenses:
Direct operating costs	397,132		576,757		586,730		(4,136		)	1,556,483
Salaries and benefits	87,603		61,540		208,792		36,809			394,744
Selling, general and administrative	35,518		35,054		133,068		8,304			211,944
Depreciation and amortization	71,819		6,774		32,846		305			111,744
Total operating expenses	592,072		680,125		961,436		41,282			2,274,915
Operating income (expense)	$	296,640	$	89,204	$	134,790	$	(45,440	)	$	475,194
Other income (expense)
Interest income										1,969
Interest expense										(36,237		)
Foreign currency exchange loss, net										2,701
Other gains, net										(9,820)
Total other expense, net										(41,387		)
Income before income taxes										$	433,807
Segment assets as of December 31, 2019	$	1,914,144	$	962,671	$	1,560,136	$	220,715		$	4,657,666

Total revenues for the years ended December 31, 2021, 2020 and 2019, and property and equipment and total assets as of December 31, 2021 and 2020, summarized by geographic location, were as follows:

	Revenues						Property and Equipment, net				Total Assets
	For the year ended December 31,						as of December 31,				as of December 31,
(in thousands)	2021		2020		2019		2021		2020		2021		2020
United States	$	805,028	$	725,135	$	716,576	$	59,469	$	55,573	$	1,040,190	$	1,255,983
Germany	631,550		533,999		518,146		32,126		38,808		901,724		797,627
Spain	157,766		118,934		189,104		50,321		61,563		317,199		291,254
United Kingdom	143,914		118,024		135,006		13,783		20,150		371,090		402,587
Italy	130,095		92,006		130,929		18,279		21,225		207,347		231,548
Poland	93,654		89,688		130,104		24,091		33,087		201,506		206,016
India	173,154		123,343		113,146		32,705		26,126		206,378		182,073
France	166,655		119,265		94,352		7,038		2,731		134,981		112,335
Greece	61,627		39,705		79,716		10,815		13,252		80,778		78,439
Malaysia	50,039		73,541		74,948		1,998		2,319		91,813		115,448
Australia	46,851		46,062		51,686		2,791		1,575		56,275		68,577
New Zealand	56,480		47,368		47,611		3,949		3,772		231,468		254,580
Other	478,630		355,630		468,785		88,016		98,260		903,527		930,244
Total foreign	2,190,415		1,757,565		2,033,533		285,912		322,868		3,704,086		3,670,728
Total	$	2,995,443	$	2,482,700	$	2,750,109	$	345,381	$	378,441	$	4,744,276	$	4,926,711

Revenues are attributed to countries based on location of the customer, with the exception of software sales made by the Company's software subsidiary, which are attributed to the U.S.