Business segment information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Business segment information

Segment information for the quarters and six months ended June 30, 2022 and 2021 was as follows:

	Quarter Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021
Payments:
Revenue	$	171,154	$	103,339	$	337,362	$	182,777
Adjusted EBITDA	34,986		21,199		71,421		39,528
Cloud Solutions:
Revenue	68,587		68,067		138,084		130,287
Adjusted EBITDA	17,509		18,803		34,836		36,011
Promotional Solutions:
Revenue	139,276		134,987		272,519		259,494
Adjusted EBITDA	14,596		21,416		31,540		39,131
Checks:
Revenue	183,936		171,823		371,003		346,923
Adjusted EBITDA	82,564		80,191		165,360		163,725
Total segment:
Revenue	$	562,953	$	478,216	$	1,118,968	$	919,481
Adjusted EBITDA	149,655		141,609		303,157		278,395

Reconciliation of adjusted EBITDA to pretax income

The following table presents a reconciliation of total segment adjusted EBITDA to consolidated income before income taxes:

	Quarter Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021
Total segment adjusted EBITDA	$	149,655	$	141,609	$	303,157	$	278,395
Corporate operations	(47,918)		(44,147)		(101,801)		(90,428)
Depreciation and amortization expense	(45,047)		(33,244)		(86,644)		(61,024)
Interest expense	(21,349)		(9,530)		(41,672)		(14,054)
Net income attributable to non-controlling interest	35		29		71		62
Restructuring, integration and other costs	(15,208)		(11,979)		(31,511)		(27,191)
Share-based compensation expense	(4,896)		(7,625)		(13,038)		(14,367)
Acquisition transaction costs	(12)		(15,843)		(61)		(18,608)
Certain legal-related expense	(162)		(302)		(845)		(302)
Gain on sale of businesses and facility	17,527		—		17,527		—
Income before income taxes	$	32,625	$	18,968	$	45,183	$	52,483

Revenue disaggregated by product and service offerings

The following tables present revenue disaggregated by our product and service offerings:

	Quarter Ended June 30, 2022
(in thousands)	Payments		Cloud Solutions		Promotional Solutions		Checks		Consolidated
Checks	$	—	$	—	$	—	$	183,936	$	183,936
Merchant services and other payment solutions	111,619		—		—		—		111,619
Forms and other products	—		—		69,404		—		69,404
Marketing and promotional solutions	—		—		69,872		—		69,872
Treasury management solutions	59,535		—		—		—		59,535
Data-driven marketing solutions	—		45,470		—		—		45,470
Web and hosted solutions	—		23,117		—		—		23,117
Total revenue	$	171,154	$	68,587	$	139,276	$	183,936	$	562,953

	Quarter Ended June 30, 2021
(in thousands)	Payments		Cloud Solutions		Promotional Solutions		Checks		Consolidated
Checks	$	—	$	—	$	—	$	171,823	$	171,823
Merchant services and other payment solutions	47,115		—		—		—		47,115
Forms and other products	—		—		78,194		—		78,194
Marketing and promotional solutions	—		—		56,793		—		56,793
Treasury management solutions	56,224		—		—		—		56,224
Data-driven marketing solutions	—		39,518		—		—		39,518
Web and hosted solutions	—		28,549		—		—		28,549
Total revenue	$	103,339	$	68,067	$	134,987	$	171,823	$	478,216

	Six Months Ended June 30, 2022
(in thousands)	Payments		Cloud Solutions		Promotional Solutions		Checks		Consolidated
Checks	$	—	$	—	$	—	$	371,003	$	371,003
Merchant services and other payment solutions	219,889		—		—		—		219,889
Forms and other products	—		—		139,720		—		139,720
Marketing and promotional solutions	—		—		132,799		—		132,799
Treasury management solutions	117,473		—		—		—		117,473
Data-driven marketing solutions	—		87,313		—		—		87,313
Web and hosted solutions	—		50,771		—		—		50,771
Total revenue	$	337,362	$	138,084	$	272,519	$	371,003	$	1,118,968

	Six Months Ended June 30, 2021
(in thousands)	Payments		Cloud Solutions		Promotional Solutions		Checks		Consolidated
Checks	$	—	$	—	$	—	$	346,923	$	346,923
Merchant services and other payment solutions	67,417		—		—		—		67,417
Forms and other products	—		—		149,975		—		149,975
Marketing and promotional solutions	—		—		109,519		—		109,519
Treasury management solutions	115,360		—		—		—		115,360
Data-driven marketing solutions	—		73,164		—		—		73,164
Web and hosted solutions	—		57,123		—		—		57,123
Total revenue	$	182,777	$	130,287	$	259,494	$	346,923	$	919,481

Revenue disaggregated by geography

The following tables present revenue disaggregated by geography, based on where items are shipped from or where services are performed:

	Quarter Ended June 30, 2022
(in thousands)	Payments		Cloud Solutions		Promotional Solutions		Checks		Consolidated
United States	$	159,939	$	63,758	$	132,886	$	176,692	$	533,275
Foreign, primarily Canada and Australia	11,215		4,829		6,390		7,244		29,678
Total revenue	$	171,154	$	68,587	$	139,276	$	183,936	$	562,953

	Quarter Ended June 30, 2021
(in thousands)	Payments		Cloud Solutions		Promotional Solutions		Checks		Consolidated
United States	$	93,796	$	59,265	$	129,321	$	165,799	$	448,181
Foreign, primarily Canada and Australia	9,543		8,802		5,666		6,024		30,035
Total revenue	$	103,339	$	68,067	$	134,987	$	171,823	$	478,216

	Six Months Ended June 30, 2022
(in thousands)	Payments		Cloud Solutions		Promotional Solutions		Checks		Consolidated
United States	$	316,207	$	124,382	$	260,128	$	355,780	$	1,056,497
Foreign, primarily Canada and Australia	21,155		13,702		12,391		15,223		62,471
Total revenue	$	337,362	$	138,084	$	272,519	$	371,003	$	1,118,968

	Six Months Ended June 30, 2021
(in thousands)	Payments		Cloud Solutions		Promotional Solutions		Checks		Consolidated
United States	$	162,280	$	112,777	$	248,469	$	334,813	$	858,339
Foreign, primarily Canada and Australia	20,497		17,510		11,025		12,110		61,142
Total revenue	$	182,777	$	130,287	$	259,494	$	346,923	$	919,481