Segment Information

The Company's accounting policies derive segment results that are the same as those the Chief Operating Decision Maker (CODM) regularly reviews and uses to make decisions, allocate resources and assess performance. The Company continually considers its operating structure and the information subject to regular review by its Chief Executive Officer, who is the CODM, to identify reportable operating segments. The Company’s operating structure is based on a number of factors that management uses to evaluate, view and run its business operations, which currently includes, but is not limited to, product, service and solution. The Company's reportable operating segments are based on the following solutions: Eurasia Banking, Americas Banking and Retail.

Segment revenue represents revenues from sales to external customers. Segment operating profit is defined as revenues less expenses identifiable to those segments. The Company does not allocate to its segments certain operating expenses, managed at the corporate level; that are not routinely used in the management of the segments; or information that is impractical to allocate. These unallocated costs include certain corporate costs, amortization of acquired intangible assets and deferred revenue, restructuring charges, impairment charges, legal, indemnification and professional fees related to acquisition and divestiture expenses, along with other income (expenses). Segment operating profit reconciles to consolidated income (loss) before income taxes by deducting corporate costs and other income or expense items that are not attributed to the segments. Corporate charges not allocated to segments include headquarter-based costs associated with procurement, human resources, compensation and benefits, finance and accounting, global development/engineering, global strategy/mergers and acquisitions, global IT, tax, treasury and legal. Assets are not allocated to segments, and thus are not included in the assessment of segment performance, and consequently, we do not disclose total assets and depreciation and amortization expense by reportable operating segment.

The following tables represent information regarding the Company’s segment information and provides a reconciliation between segment operating profit and the consolidated income (loss) before income taxes:



	Three Months Ended
	March 31,
	2019			2018
Net sales summary by segment
Eurasia Banking	$	382.6		$	435.1
Americas Banking	362.7			333.7
Retail	282.8			295.4
Total revenue	$	1,028.1		$	1,064.2

Intersegment revenue
Eurasia Banking	$	55.2		$	31.0
Americas Banking	2.2			5.5
Total intersegment revenue	$	57.4		$	36.5

Segment operating profit
Eurasia Banking	$	33.7		$	19.5
Americas Banking	18.5			5.0
Retail	8.1			10.2
Total segment operating profit	60.3			34.7

Corporate charges not allocated to segments ⁽¹⁾	(33.2		)	(17.1		)
Restructuring charges	(3.8		)	(3.9		)
Net non-routine expense	(47.8		)	(37.2		)
	(84.8		)	(58.2		)
Operating loss	(24.5		)	(23.5		)
Other income (expense)	(46.6		)	(24.0		)
Loss before taxes	$	(71.1	)	$	(47.5	)


⁽¹⁾	Corporate charges not allocated to segments include headquarter-based costs associated with procurement, human resources, compensation and benefits, finance and accounting, global development/engineering, global strategy/mergers and acquisitions, global IT, tax, treasury and legal.

Net non-routine expense consists of items that the Company has determined are non-routine in nature and not allocated to the reportable operating segments. Net non-routine expense of $47.8 for the three months ended March 31, 2019 primarily consisted of purchase accounting pre-tax charges for amortization of acquired intangibles of $24.6 and legal, consulting and deal expense of $20.7. Net non-routine expense of $37.2 for the three months ended March 31, 2018 was primarily due to acquisition integration expenses of $15.2, primarily within selling and administrative expense, and purchase accounting pre-tax charges for amortization of acquired intangibles of $31.2.

The following table presents information regarding the Company’s segment net sales by service and product solution:



	Three Months Ended
	March 31,
	2019		2018
Segments
Eurasia Banking
Services	$	247.0	$	279.2
Products	135.6		155.9
Total Eurasia Banking	382.6		435.1

Americas Banking
Services	240.8		251.2
Products	121.9		82.5
Total Americas Banking	362.7		333.7

Retail
Services	140.9		159.9
Products	141.9		135.5
Total Retail	282.8		295.4

Total net sales	$	1,028.1	$	1,064.2

In the following table, revenue is disaggregated by timing of revenue recognition at March 31:



Timing of revenue recognition	2019		2018
Products transferred at a point in time	39	%	35	%
Products and services transferred over time	61	%	65	%
Net sales	100	%	100	%