Segments

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segments

SegmentsThe 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 month periods ended March 31 in thousands):

 

	Three Months Ended March 31,
	20221		2021
Revenues, net:
North America	$	547,382	$	402,206
Brazil	102,538		81,923
International	139,321		124,494
	$	789,241	$	608,623
Operating income:
North America	$	196,930	$	162,576
Brazil	37,328		32,225
International	83,463		71,164
	$	317,721	$	265,965
Depreciation and amortization:
North America	$	53,307	$	40,533
Brazil	13,121		12,287
International	10,374		12,909
	$	76,802	$	65,729
Capital expenditures:
North America	$	21,594	$	11,530
Brazil	5,978		3,350
International	3,815		4,646
	$	31,387	$	19,526

1 Results from the 2022 acquisition of Levarti are reported in our North America segment.