Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Schedule of Foreign Exchange Gains/Losses on Long-Term Intra-Equity Transactions

The Company recognized foreign exchange gains and losses, which are recorded within other (income) expense, net in the Unaudited Consolidated Statements of Income, for the three and nine months ended September 30, 2023 and 2022 as follows (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Foreign exchange losses	$	(6.4)	$	(1.9)	$	(6.2)	$	(4.1)

Foreign exchange losses for the three and nine months ended September 30, 2023 include a $5.6 million exchange loss incurred in connection with the Company's disposition of its Russia business upon conversion of the ruble-denominated proceeds to U.S. dollars. See Note 15 for additional information.

The Company recorded foreign currency gains on long-term intra-entity transactions included as a component of foreign currency translation losses, net of tax, in the Unaudited Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2023 and 2022 as follows (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Foreign currency gains on long-term intra-entity transactions	$	31.0	$	27.8	$	43.4	$	184.1

Disaggregation of Revenue

Revenue by solution (in millions) for the three and nine months ended September 30, was as follows:

Revenues, net by Solution*	Three Months Ended September 30,								Nine Months Ended September 30,
	2023		%		2022		%		2023		%		2022		%
Fleet	$	365.5	38	%	$	395.2	44	%	$	1,120.8	40	%	$	1,124.2	44	%
Corporate Payments	258.8		27	%	196.9		22	%	733.0		26	%	570.4		22	%
Lodging	141.4		15	%	126.0		14	%	400.3		14	%	337.4		13	%
Brazil	134.2		14	%	108.6		12	%	382.0		14	%	322.9		13	%
Other	71.0		7	%	66.3		7	%	184.3		7	%	188.6		7	%
Consolidated revenues, net	$	970.9	100	%	$	893.0	100	%	$	2,820.4	100	%	$	2,543.5	100	%

*Columns may not calculate due to rounding.

Revenue by geography (in millions) for the three and nine months ended September 30, was as follows:

Revenues, net by Geography*	Three Months Ended September 30,								Nine Months Ended September 30,
	2023		%		2022		%		2023		%		2022		%
United States	$	561.4	58	%	$	558.3	63	%	$	1,609.8	57	%	$	1,557.7	61	%
Brazil	134.2		14	%	108.6		12	%	382.0		14	%	322.9		13	%
United Kingdom	114.5		12	%	90.4		10	%	333.4		12	%	278.4		11	%
Other	160.8		17	%	135.8		15	%	495.2		18	%	384.5		15	%
Consolidated revenues, net	$	970.9	100	%	$	893.0	100	%	$	2,820.4	100	%	$	2,543.5	100	%

*Columns may not calculate due to rounding.

Schedule of Derivative Assets at Fair Value

The following table presents the Company’s spot trade assets and liabilities at their fair value at September 30, 2023 and December 31, 2022 (in millions):

	September 30, 2023						December 31, 2022
	Gross		Offset on the Balance Sheet		Net		Gross		Offset on the Balance Sheet		Net
Assets
Accounts Receivable	$	3,824.6	$	(3,647.4)	$	177.2	$	2,409.8	$	(2,266.0)	$	143.8
Liabilities
Accounts Payable	$	3,736.9	$	(3,647.4)	$	89.5	$	2,332.5	$	(2,266.0)	$	66.5

The following table presents the fair value of the Company’s derivative assets and liabilities, as well as their classification on the accompanying Consolidated Balance Sheets, as of September 30, 2023 and December 31, 2022 (in millions): 

		September 30, 2023		December 31, 2022
	Balance Sheet Classification	Fair Value
Derivative Assets	Prepaid expenses and other current assets	$	222.3	$	204.9
Derivative Assets	Other assets	$	94.8	$	62.0
Derivative Liabilities	Other current liabilities	$	188.8	$	184.1
Derivative Liabilities	Other noncurrent liabilities	$	78.2	$	40.6

Schedule of Derivative Liabilities at Fair Value

The following table presents the Company’s spot trade assets and liabilities at their fair value at September 30, 2023 and December 31, 2022 (in millions):

	September 30, 2023						December 31, 2022
	Gross		Offset on the Balance Sheet		Net		Gross		Offset on the Balance Sheet		Net
Assets
Accounts Receivable	$	3,824.6	$	(3,647.4)	$	177.2	$	2,409.8	$	(2,266.0)	$	143.8
Liabilities
Accounts Payable	$	3,736.9	$	(3,647.4)	$	89.5	$	2,332.5	$	(2,266.0)	$	66.5

The following table presents the fair value of the Company’s derivative assets and liabilities, as well as their classification on the accompanying Consolidated Balance Sheets, as of September 30, 2023 and December 31, 2022 (in millions): 

		September 30, 2023		December 31, 2022
	Balance Sheet Classification	Fair Value
Derivative Assets	Prepaid expenses and other current assets	$	222.3	$	204.9
Derivative Assets	Other assets	$	94.8	$	62.0
Derivative Liabilities	Other current liabilities	$	188.8	$	184.1
Derivative Liabilities	Other noncurrent liabilities	$	78.2	$	40.6