Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

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

The Company recognized foreign exchange losses, which are recorded within Other expense, net in the Unaudited Consolidated Statements of Income, for the three months ended March 31, 2024 and 2023 as follows (in millions):

	Three Months Ended March 31,
	2024		2023
Foreign exchange losses	$	3.1	$	0.7

The Company recorded foreign currency losses and gains on long-term intra-entity transactions included as a component of Foreign currency translation (losses) gains, net of tax, in the Unaudited Consolidated Statements of Comprehensive Income for the three months ended March 31, 2024 and 2023 as follows (in millions):

	Three Months Ended March 31,
	2024		2023
Foreign currency losses (gains) on long-term intra-entity transactions	$	12.4	$	(4.9)

Disaggregation of Revenue

Revenues, net by segment for the three months ended March 31, 2024 and 2023 was as follows (in millions, except percentages):

Revenues, net by Segment*	Three Months Ended March 31,
	2024		%		2023		%
Vehicle Payments	$	494.1	53	%	$	495.5	55	%
Corporate Payments	265.4		28	%	226.2		25	%
Lodging Payments	111.3		12	%	122.3		14	%
Other	64.5		7	%	57.3		6	%
Consolidated revenues, net	$	935.3	100	%	$	901.3	100	%

*Columns may not calculate due to rounding.

Revenue by geography for the three months ended March 31, 2024 and 2023 was as follows (in millions, except percentages):

Revenues, net by Geography*	Three Months Ended March 31,
	2024		%		2023		%
United States	$	504.6	54	%	$	513.6	57	%
Brazil	148.4		16	%	121.7		14	%
United Kingdom	121.4		13	%	107.7		12	%
Other	160.8		17	%	158.2		18	%
Consolidated revenues, net	$	935.3	100	%	$	901.3	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 March 31, 2024 and December 31, 2023 (in millions):

	March 31, 2024						December 31, 2023
	Gross		Offset on the Balance Sheet		Net		Gross		Offset on the Balance Sheet		Net
Assets
Accounts Receivable	$	1,881.7	$	(1,713.6)	$	168.1	$	2,499.9	$	(2,373.8)	$	126.1
Liabilities
Accounts Payable	$	1,793.9	$	(1,713.6)	$	80.3	$	2,457.3	$	(2,373.8)	$	83.5

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 March 31, 2024 and December 31, 2023 (in millions): 

		March 31, 2024		December 31, 2023
	Balance Sheet Classification	Fair Value
Derivative Assets	Prepaid expenses and other current assets	$	193.4	$	254.2
Derivative Assets	Other assets	$	59.5	$	66.0
Derivative Liabilities	Other current liabilities	$	131.4	$	190.4
Derivative Liabilities	Other noncurrent liabilities	$	47.5	$	54.3

Schedule of Derivative Liabilities at Fair Value

The following table presents the Company’s spot trade assets and liabilities at their fair value at March 31, 2024 and December 31, 2023 (in millions):

	March 31, 2024						December 31, 2023
	Gross		Offset on the Balance Sheet		Net		Gross		Offset on the Balance Sheet		Net
Assets
Accounts Receivable	$	1,881.7	$	(1,713.6)	$	168.1	$	2,499.9	$	(2,373.8)	$	126.1
Liabilities
Accounts Payable	$	1,793.9	$	(1,713.6)	$	80.3	$	2,457.3	$	(2,373.8)	$	83.5

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 March 31, 2024 and December 31, 2023 (in millions): 

		March 31, 2024		December 31, 2023
	Balance Sheet Classification	Fair Value
Derivative Assets	Prepaid expenses and other current assets	$	193.4	$	254.2
Derivative Assets	Other assets	$	59.5	$	66.0
Derivative Liabilities	Other current liabilities	$	131.4	$	190.4
Derivative Liabilities	Other noncurrent liabilities	$	47.5	$	54.3