Related Party Transactions

12 Months Ended

Dec. 31, 2021

The following table presents the Company’s transactions with related parties for each of the periods presented below:


	Years ended December 31,
(In thousands)	2021		2020		2019
Total revenues (1)(2)	$	245,613	$	226,074	$	209,053
Cost of revenues	$	2,610	$	4,317	$	5,094
Rent and other fees	$	7,487	$	8,320	$	8,519
Interest earned from an affiliate
Interest income	$	647	$	391	$	161

(1)Popular, Inc. ("Popular") revenues as a percentage of total revenues were 42%, 44% and 43%, respectively, for each of the periods presented above.

(2)Includes revenues generated from investee accounted for under the equity method of $0.3 million, $0.6 million and $1.1 million for the years ended December 31, 2021, 2020 and 2019, respectively.

As of December 31, 2021 and 2020, EVERTEC had the following balances arising from transactions with related parties:


	December 31,
(In thousands)	2021		2020

Cash and restricted cash deposits in affiliated bank	$	187,602	$	126,189
Other due/to from affiliate
Accounts receivable	$	38,120	$	28,419
Prepaid expenses and other assets	$	1,763	$	4,678
Operating lease right-of use assets	$	13,533	$	17,099
Other long-term assets	$	2,853	$	—
Accounts payable	$	5,601	$	4,607
Unearned income	$	40,982	$	35,807
Operating lease liabilities	$	14,019	$	17,781

The balance of cash and restricted cash deposits in an affiliated bank was included within the cash and cash equivalents and restricted cash line items in the accompanying consolidated balance sheets. Due from affiliates mainly included the amounts

outstanding related to processing and information technology services billed to Popular subsidiaries according to the terms of the MSA under which EVERTEC Group has a contract to provide such services for at least 15 years on an exclusive basis for the duration of the agreement on commercial terms consistent with historical pricing practices among the parties. This amount was included in the accounts receivable, net in the consolidated balance sheets.