Business segment information (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Business segment information

Segment information for the quarters and nine months ended September 30, 2023 and 2022 was as follows:

	Quarter Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Payments:
Revenue	$	169,482	$	169,787	$	515,837	$	507,149
Adjusted EBITDA	37,597		36,184		110,470		107,605
Data Solutions:
Revenue	64,080		66,739		194,764		204,824
Adjusted EBITDA	15,317		16,034		48,375		50,869
Promotional Solutions:
Revenue	124,292		136,081		399,234		408,600
Adjusted EBITDA	16,627		18,255		56,676		49,795
Checks:
Revenue	179,990		182,431		545,061		553,433
Adjusted EBITDA	81,417		80,478		241,481		245,838
Total segment:
Revenue	$	537,844	$	555,038	$	1,654,896	$	1,674,006
Adjusted EBITDA	150,958		150,951		457,002		454,107

Reconciliation of adjusted EBITDA to pretax (loss) income

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

	Quarter Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Total segment adjusted EBITDA	$	150,958	$	150,951	$	457,002	$	454,107
Corporate operations	(49,068)		(46,359)		(146,304)		(148,159)
Depreciation and amortization expense	(38,857)		(42,304)		(124,985)		(128,948)
Interest expense	(32,034)		(23,799)		(93,982)		(65,471)
Net income attributable to non-controlling interest	26		35		80		106
Restructuring and integration costs	(29,364)		(15,319)		(70,935)		(46,830)
Share-based compensation expense	(4,539)		(5,728)		(15,889)		(18,766)
Acquisition transaction costs	—		(51)		—		(112)
Certain legal-related (expense) benefit	(1,949)		1,659		(2,195)		814
(Loss) gain on sale of businesses and long-lived assets	(4,324)		1,804		17,618		19,331
(Loss) income before income taxes	$	(9,151)	$	20,889	$	20,410	$	66,072

Revenue disaggregated by product and service offerings

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

	Quarter Ended September 30, 2023
(in thousands)	Payments		Data Solutions		Promotional Solutions		Checks		Consolidated
Checks	$	—	$	—	$	—	$	179,990	$	179,990
Merchant services and other payment solutions	110,258		—		—		—		110,258
Marketing and promotional solutions	—		—		62,309		—		62,309
Forms and other products	—		—		61,983		—		61,983
Data-driven marketing solutions	—		59,561		—		—		59,561
Treasury management solutions	59,224		—		—		—		59,224
Web and hosted solutions	—		4,519		—		—		4,519
Total revenue	$	169,482	$	64,080	$	124,292	$	179,990	$	537,844

	Quarter Ended September 30, 2022
(in thousands)	Payments		Data Solutions		Promotional Solutions		Checks		Consolidated
Checks	$	—	$	—	$	—	$	182,431	$	182,431
Merchant services and other payment solutions	108,255		—		—		—		108,255
Marketing and promotional solutions	—		—		64,284		—		64,284
Forms and other products	—		—		71,797		—		71,797
Data-driven marketing solutions	—		46,993		—		—		46,993
Treasury management solutions	61,532		—		—		—		61,532
Web and hosted solutions	—		19,746		—		—		19,746
Total revenue	$	169,787	$	66,739	$	136,081	$	182,431	$	555,038

	Nine Months Ended September 30, 2023
(in thousands)	Payments		Data Solutions		Promotional Solutions		Checks		Consolidated
Checks	$	—	$	—	$	—	$	545,061	$	545,061
Merchant services and other payment solutions	334,973		—		—		—		334,973
Marketing and promotional solutions	—		—		204,998		—		204,998
Forms and other products	—		—		194,236		—		194,236
Treasury management solutions	180,864		—		—		—		180,864
Data-driven marketing solutions	—		153,346		—		—		153,346
Web and hosted solutions	—		41,418		—		—		41,418
Total revenue	$	515,837	$	194,764	$	399,234	$	545,061	$	1,654,896

	Nine Months Ended September 30, 2022
(in thousands)	Payments		Data Solutions		Promotional Solutions		Checks		Consolidated
Checks	$	—	$	—	$	—	$	553,433	$	553,433
Merchant services and other payment solutions	328,144		—		—		—		328,144
Marketing and promotional solutions	—		—		197,083		—		197,083
Forms and other products	—		—		211,517		—		211,517
Treasury management solutions	179,005		—		—		—		179,005
Data-driven marketing solutions	—		134,307		—		—		134,307
Web and hosted solutions	—		70,517		—		—		70,517
Total revenue	$	507,149	$	204,824	$	408,600	$	553,433	$	1,674,006

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 September 30, 2023
(in thousands)	Payments		Data Solutions		Promotional Solutions		Checks		Consolidated
United States	$	156,556	$	64,080	$	119,137	$	173,682	$	513,455
Canada	12,926		—		5,155		6,308		24,389
Total revenue	$	169,482	$	64,080	$	124,292	$	179,990	$	537,844

	Quarter Ended September 30, 2022
(in thousands)	Payments		Data Solutions		Promotional Solutions		Checks		Consolidated
United States	$	159,160	$	64,111	$	129,697	$	175,481	$	528,449
Foreign, primarily Canada	10,627		2,628		6,384		6,950		26,589
Total revenue	$	169,787	$	66,739	$	136,081	$	182,431	$	555,038

	Nine Months Ended September 30, 2023
(in thousands)	Payments		Data Solutions		Promotional Solutions		Checks		Consolidated
United States	$	478,441	$	189,037	$	381,808	$	525,221	$	1,574,507
Foreign, primarily Canada	37,396		5,727		17,426		19,840		80,389
Total revenue	$	515,837	$	194,764	$	399,234	$	545,061	$	1,654,896

	Nine Months Ended September 30, 2022
(in thousands)	Payments		Data Solutions		Promotional Solutions		Checks		Consolidated
United States	$	475,368	$	188,494	$	389,824	$	531,260	$	1,584,946
Foreign, primarily Canada and Australia	31,781		16,330		18,776		22,173		89,060
Total revenue	$	507,149	$	204,824	$	408,600	$	553,433	$	1,674,006