XML 35 R23.htm IDEA: XBRL DOCUMENT v3.21.1
Subsequent Events
3 Months Ended
Mar. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Acquisition of ATM Services Provider
On April 1, 2021, we acquired PAI, Inc. ("PAI") for approximately $213 million. PAI is the largest privately-held provider of ATM services in the U.S. and is expected to generate approximately $320 million in annual revenues.

Cross Currency Swaps
On April 26, 2021, we entered into a series of cross currency swaps with a combined notional amount of $400 million, to hedge a portion of our net investments in certain subsidiaries with euro as their functional currency. Under these ten-year agreements, we will pay interest of EUR 0.00% and receive interest of USD 1.51%. These interest amounts will be recognized in earnings over the duration of the swaps. The spot-to-spot changes in the fair values of these swaps will be recognized in foreign currency translation, a component of accumulated other comprehensive income (loss), to offset the changes in the values of the net investments being hedged.