Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

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
	2022		2021		2022		2021
Net sales summary by segment
Banking	$	580.3	$	670.1	$	1,733.3	$	1,948.1
Retail	225.0		288.1		742.4		897.5
Held for sale non-core European retail business(7)	5.1		—		16.2		—
Total revenue	$	810.4	$	958.2	$	2,491.9	$	2,845.6

Segment operating profit
Banking	$	83.1	$	109.6	$	209.4	$	320.3
Retail	31.1		43.6		90.0		124.9


Total segment operating profit	114.2		153.2		299.4		445.2

Corporate charges not allocated to segments (1)	(54.2)		(71.9)		(188.0)		(221.9)
Impairment of assets (2)	(4.1)		(0.3)		(64.7)		(0.3)
Amortization of Wincor Nixdorf purchase accounting intangible assets(3)	(16.6)		(19.5)		(52.8)		(59.3)
Restructuring and transformation expenses(4)	(20.7)		(20.9)		(98.9)		(74.4)
Refinancing related costs(5)	(13.4)		—		(13.4)		—
Net non-routine expense(6)	5.3		(1.9)		(34.3)		(1.5)
Held for sale non-core European retail business(7)	(5.0)		—		(16.7)		—
	(108.7)		(114.5)		(468.8)		(357.4)
Operating profit (loss)	5.5		38.7		(169.4)		87.8
Other income (expense)	(51.5)		(41.3)		(142.1)		(137.2)
Loss before taxes	$	(46.0)	$	(2.6)	$	(311.5)	$	(49.4)

(1) Corporate charges not allocated to segments include headquarter-based costs associated primarily with human resources, finance, IT and legal that are not directly attributable to a particular segment and are separately assessed by the CODM for purposes of making decisions, assessing performance and allocating resources.

(2) Refer to Notes 20 and 21 for further information on the impairment charges taken in the first and second quarters of 2022. During the third quarter of 2022, and in connection with the organizational simplification, $4.1 of German capitalized software was identified as impaired.

(3) The amortization of purchase accounting intangible assets is not included in the segment results used by the CODM to make decisions, allocate resources or assess performance.

(4) Refer to Note 8: Restructuring for further information. Consistent with the historical reportable segment structure, restructuring and transformation costs are not assigned to the segments, and are separately analyzed by the CODM.

(5) Refinancing related costs are fees earned by our advisors and the advisors of our potential lenders. As these costs were incurred prior to September 30, 2022, at which point an agreement with respect to a debt refinancing remained under negotiation and subject to material changes, these costs are not considered directly attributable to the Transaction Support Agreement and thus are accounted for as period expense.

(6) 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 used by the CODM to make decisions, allocate resources and assess performance. Net non-routine expense for the three months ended September 30, 2022 related primarily to gains made on divestitures of certain assets. Net non-routine expense for the nine months ended September 30, 2022 primarily consisted of inventory charges related to legacy product of $34.4 which management determined would no longer be sold as part of a product portfolio consolidation connected with the organizational simplification. Also included in net non-routine expense are charges related to the wind-down of our operations in Russia and Ukraine as discuss in Note 21 and charges related to mergers, acquisitions and divestitures.

(7) Held for sale non-core European retail business represents the revenue and operating profit of a business that has been classified as held for sale for all of the periods presented, but which was removed in 2022 from the retail segment's information used by the CODM to make decisions, assess performance and allocate resources, and now is individually analyzed. This change and timing thereof aligns with the build-out of a data center that makes the entity capable of operating autonomously and is consistent with material provided in connection with our refinancing effort which are exclusive of this entity. The presentation in the periods ended September 30, 2022 and 2021 is consistent with management reporting. Total revenue generated by this business was $5.1 and $16.2 in the three and nine month periods ended September 30, 2022, compared to $4.6 and $18.1 for the three and nine month periods ended September 30, 2021. Operating loss generated by this business was $5.0 and $16.7 in the three and nine month periods ended September 30, 2022, compared to $2.8 and $10.3 for the three and nine month periods ended September 30, 2021.

Schedule Of Revenue From External Customers By Product And Service Solution

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
	2022		2021		2022		2021
Segments
Banking
Services	$	379.9	$	414.6	$	1,152.9	$	1,255.9
Products	200.4		255.5		580.4		692.2
Total Banking	580.3		670.1		1,733.3		1,948.1

Retail
Services	130.4		147.1		405.6		466.1
Products	94.6		141.0		336.8		431.4
Total Retail	225.0		288.1		742.4		897.5

Held for sale non-core European retail business
Services	4.0		—		7.4		—
Products	1.1		—		8.8		—

Total revenue	$	810.4	$	958.2	$	2,491.9	$	2,845.6