Segments

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segments

Segments

The Company reports information about its operating segments in accordance with the authoritative guidance related to segments. We manage and report our operating results through three operating and reportable segments defined by geographic regions: North America, Brazil and International, which aligns with how the Chief Operating Decision Maker (CODM) allocates resources, assesses performance and reviews financial information.

The Company’s segment results are as follows for the three and nine month periods ended September 30, 2021 and 2020 (in thousands):

 

	Three Months Ended September 30,				Nine Months Ended September 30,
	20211		2020		20211		2020
Revenues, net:
North America	$	520,535	$	383,828	$	1,366,167	$	1,175,950
Brazil	94,888		79,596		262,481		253,722
International	140,054		121,859		402,833		341,850
	$	755,477	$	585,283	$	2,031,481	$	1,771,522
Operating income:
North America	$	213,379	$	153,328	$	554,607	$	372,219
Brazil	39,868		35,600		105,424		104,462
International	85,440		75,604		242,233		201,645
	$	338,687	$	264,532	$	902,264	$	678,326
Depreciation and amortization:
North America	$	49,005	$	39,390	$	133,420	$	115,913
Brazil	12,910		12,260		38,091		39,019
International	12,322		11,829		37,673		35,185
	$	74,237	$	63,479	$	209,184	$	190,117
Capital expenditures:
North America	$	17,572	$	12,053	$	44,427	$	35,590
Brazil	5,795		3,501		15,580		10,309
International	5,323		2,595		14,448		9,120
	$	28,690	$	18,149	$	74,455	$	55,019

1Results from the 2021 acquisitions of Roger, AFEX and ALE are reported in our North America segment.