Segments

The Company reports information about its operating segments in accordance with the authoritative guidance related to segments. The Company’s reportable segments represent components of the business for which separate financial information is evaluated regularly by the chief operating decision maker in determining how to allocate resources and in assessing performance. The Company operates in two reportable segments, North America and International. The Company began reporting its results from Cambridge acquired in the third quarter of 2017 in its North America segment for Cambridge's business in the United States and Canada and within its International segment for Cambridge's business in all other countries outside of the United States and Canada. The Company is continuing to evaluate the allocation of Cambridge results to its reporting units and segments. The results of operations from the fuel card business acquired in Russia are included within our International segment, from the date of acquisition. There were no inter-segment sales.

The Company’s segment results are as follows for the three and nine month periods ended September 30 (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Revenues, net:
North America	$	364,443	$	345,868	$	1,037,386	$	950,542
International	213,434		138,558		602,161		366,051
	$	577,877	$	484,426	$	1,639,547	$	1,316,593
Operating income:
North America	$	138,748	$	135,760	$	394,646	$	367,221
International	93,889		55,295		249,102		170,957
	$	232,637	$	191,055	$	643,748	$	538,178
Depreciation and amortization:
North America	$	37,600	$	32,739	$	104,161	$	96,351
International	31,556		24,345		94,570		45,497
	$	69,156	$	57,084	$	198,731	$	141,848
Capital expenditures:
North America	$	9,167	$	11,980	$	30,901	$	28,501
International	7,692		5,140		18,558		13,376
	$	16,859	$	17,120	$	49,459	$	41,877