Segments

9 Months Ended

Sep. 30, 2012

Segments

10. 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 has identified these segments due to commonality of the products in each of their business lines having similar economic characteristics, services, customers and processes. There were no significant inter-segment sales.

The results from the Company’s Mexican prepaid fuel card and food voucher business acquired during the third quarter of 2011, Allstar business acquired during the fourth quarter of 2011, a Russian fuel card business acquired during the second quarter of 2012 and CTF Technologies, Inc. acquired during the third quarter of 2012 are reported in our International segment.

The Company’s segment results are as follows (in thousands):

	Three months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
Revenues, net:
North America	$	101,495	$	92,995	$	291,593	$	257,444
International		85,437		41,218		213,324		121,987
	$	186,932	$	134,213	$	504,917	$	379,431
Operating income:
North America	$	49,273	$	43,070	$	140,984	$	114,387
International		36,561		18,653		90,773		57,715
	$	85,834	$	61,723	$	231,757	$	172,102
Depreciation and amortization:
North America	$	5,046	$	4,990	$	15,064	$	14,821
International		8,545		4,062		21,856		11,426
	$	13,591	$	9,052	$	36,920	$	26,247
Capital expenditures:
North America	$	1,153	$	1,142	$	5,749	$	3,975
International		4,050		1,350		7,885		4,433
	$	5,203	$	2,492	$	13,634	$	8,408

Revenues, net and long-lived assets for the United States, our country of domicile, as well as the Company’s significant foreign operations are as follows (in thousands):

	Three months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
Revenues, net:
United States	$	101,350	$	92,793	$	291,157	$	256,863
United Kingdom		37,942		17,054		113,734		54,872

	September 30, 2012		December 31, 2011
Long-lived assets (excluding goodwill):
United States	$	151,320	$	113,030
United Kingdom		213,541		225,212

We attribute revenues, net from external customers to individual countries based upon the country in which the related services were rendered.