Segment Information

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Note 19: Segment Information

The Company's reportable segments 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 restructuring charges disclosed in note 8 are not included in the calculation of segment operating profit as disclosed herein. Those expenses are included in the "Restructuring and DN Now transformation expenses" reconciling item between total segment operating profit and consolidated operating profit (loss). We have excluded the restructuring and transformation charges and net non-routine expenses from segment operating profit (loss) as they are not included in the measure as used by the CODM to make decisions, allocate resources and assess performance. Segment operating profit (loss) as disclosed herein is consistent with the segment profit or loss measure used by the CODM and does not include restructuring charges or other unusual or infrequently occurring items related to the transformation initiative, as the CODM does not regularly review and use such financial measures to make decisions, allocate resources and assess performance. The Company's reportable operating segments are the following: Eurasia Banking, Americas Banking and Retail.

Segment revenue represents revenues from sales to external customers. Segment operating profit is defined as revenues less expenses direct and allocated 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 and amortization of acquired intangible assets, 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 present information regarding the Company’s segment performance and provide a reconciliation between segment operating profit and the consolidated income (loss) before income taxes:

	Three months ended				Nine months ended
	September 30				September 30
	2021		2020		2021		2020
Net sales summary by segment
Eurasia Banking	$	323.5	$	364.2	$	977.3	$	1,012.4
Americas Banking	346.6		368.5		970.8		1,044.6
Retail	288.1		262.5		897.5		739.4
Total revenue	$	958.2	$	995.2	$	2,845.6	$	2,796.4
Intersegment revenue
Eurasia Banking	$	36.9	$	32.9	$	109.3	$	86.7
Americas Banking	4.0		4.6		7.9		9.5
Total intersegment revenue	$	40.9	$	37.5	$	117.2	$	96.2
Segment operating profit
Eurasia Banking	$	26.7	$	45.8	$	77.9	$	105.7
Americas Banking	32.1		42.6		99.2		145.5
Retail	31.0		20.3		86.3		41.6
Total segment operating profit	89.8		108.7		263.4		292.8
Corporate charges not allocated to segments (1)	(8.2)		(19.2)		(39.8)		(42.1)
Impairment of assets	(0.3)		(4.1)		(0.3)		(4.1)
Restructuring and DN Now transformation expenses	(20.9)		(41.8)		(74.4)		(110.2)
Net non-routine expense	(21.7)		(19.8)		(61.1)		(118.1)
	(51.1)		(84.9)		(175.6)		(274.5)
Operating profit (loss)	38.7		23.8		87.8		18.3
Other income (expense)	(41.3)		(146.2)		(137.2)		(240.6)
Loss before taxes	$	(2.6)	$	(122.4)	$	(49.4)	$	(222.3)

(1)    Corporate charges not allocated to segments include headquarter-based costs associated with 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 as they are not included in the measure as used by the CODM to make decisions, allocate resources and assess performance. Net non-routine expense of $21.7 and $61.1 for the three and nine months ended September 30, 2021, respectively, primarily consisted of purchase accounting pre-tax charges for amortization of acquired intangibles $19.5 and $59.3, respectively. Net non-routine expense of $19.8 for the three months ended September 30, 2020 was due to purchase accounting pre-tax charges for amortization of acquired intangibles. In the nine months ended September 30, 2020, net non-routine expense of $118.1 was primarily due to purchase accounting pre-tax charges for amortization of acquired intangibles of $63.2, legal and deal expense including gains/losses on divestitures of $21.0 and provisions for a loss making contract associated with a legacy software platform of $25.5.

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

	Three months ended				Nine months ended
	September 30				September 30
	2021		2020		2021		2020
Segments
Eurasia Banking
Services	$	183.0	$	198.5	$	564.4	$	597.1
Products	140.5		165.7		412.9		415.3
Total Eurasia Banking	323.5		364.2		977.3		1,012.4
Americas Banking
Services	231.6		247.8		691.5		721.7
Products	115.0		120.7		279.3		322.9
Total Americas Banking	346.6		368.5		970.8		1,044.6
Retail
Services	147.1		142.6		466.1		417.6
Products	141.0		119.9		431.4		321.8
Total Retail	288.1		262.5		897.5		739.4
Total net sales	$	958.2	$	995.2	$	2,845.6	$	2,796.4