Segments

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

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 Russian fuel card business acquired during the second quarter of 2012, CTF Technologies, Inc. acquired during the third quarter of 2012, Fleet Card acquired during the first quarter of 2013, CardLink acquired during the second quarter of 2013 and VB acquired during the third quarter of 2013 are reported in the Company’s International segment.

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

	Three months ended September 30,				Nine months ended September 30,
	2013		2012		2013		2012
Revenues, net:
North America	$	115,266	$	101,495	$	335,346	$	291,593
International		109,884		85,437		304,324		213,324
	$	225,150	$	186,932	$	639,670	$	504,917
Operating income:
North America	$	59,093	$	49,273	$	168,622	$	140,984
International		52,162		36,561		145,960		90,773
	$	111,255	$	85,834	$	314,582	$	231,757
Depreciation and amortization:
North America	$	5,159	$	5,046	$	15,598	$	15,064
International		12,901		8,545		32,981		21,856
	$	18,060	$	13,591	$	48,579	$	36,920
Capital expenditures:
North America	$	1,942	$	1,153	$	4,298	$	5,749
International		3,298		4,050		11,050		7,885
	$	5,240	$	5,203	$	15,348	$	13,634