Segments

6 Months Ended

Jun. 30, 2023

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 four reportable segments: Fleet, Corporate Payments, Lodging and Brazil. The remaining results are included within Other, which includes our Gift and Payroll Card businesses. These segments align 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 six month periods ended June 30, 2023 and 2022 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	20231		2022		20231		2022
Revenues, net:
Fleet	$	382,609	$	377,361	$	755,321	$	728,954
Corporate Payments	246,952		189,699		474,158		373,467
Lodging	136,564		116,900		258,898		211,476
Brazil	126,081		111,825		247,825		214,362
Other2	55,968		65,493		113,305		122,260
	$	948,174	$	861,278	$	1,849,507	$	1,650,519
Operating income:
Fleet	$	183,657	$	186,790	$	357,189	$	354,635
Corporate Payments	91,755		65,859		167,268		124,066
Lodging	68,246		58,559		122,809		98,339
Brazil	52,802		41,617		107,619		78,945
Other2	16,190		17,655		32,960		32,216
	$	412,650	$	370,480	$	787,845	$	688,201
Depreciation and amortization:
Fleet	$	35,906	$	34,927	$	70,992	$	69,634
Corporate Payments	18,277		16,724		39,148		33,072
Lodging	11,661		10,321		23,059		20,855
Brazil	15,522		14,288		30,075		27,409
Other2	2,310		2,214		4,634		4,306
	$	83,676	$	78,474	$	167,908	$	155,276

1Results from Global Reach Group acquired in the first quarter of 2023 are reported in the Corporate Payments segment.

2Other includes Gift and Payroll Card operating segments.