Business Segment Information

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

Following the Segment Realignment (see Note 1), the Company’s operations are comprised of the Merchant segment and the Financial segment. The businesses in the Merchant segment provide commerce-enabling products and services to companies of all sizes around the world. These products and services include merchant acquiring and digital commerce services; mobile payment services; security and fraud protection solutions; stored-value solutions; and pay-by-bank solutions. The businesses within the Merchant segment consist of the following:

•Small Business – provides products and services to small businesses and independent software vendors, including Clover®, the Company's point-of-sale integrated commerce operating system for small business clients

•Enterprise – provides products and services to large businesses, including CaratSM, the Company's integrated commerce operating system for enterprise clients

•Processing – provides products and services to financial institutions, joint ventures, and other third party resellers which have direct relationships with merchants

The Company distributes the products and services in the Merchant segment businesses through a variety of channels, including direct sales teams, strategic partnerships with agent sales forces, independent software vendors, financial institutions and other strategic partners in the form of joint venture alliances, revenue sharing alliances and referral agreements.

The businesses in the Financial segment provide products and services to financial institution, corporate and public sector clients across the world, enabling the processing of customer loan and deposit accounts, digital payments and card transactions. The businesses within the Financial segment consist of the following:

•Digital Payments – provides debit card processing services; debit network services; security and fraud protection products; bill payment; person-to-person payments; and account-to-account transfers

•Issuing – provides credit card processing services; prepaid card processing services; card production services; print services; government payment processing; and student loan processing

•Banking – provides customer loan and deposit account processing; digital banking; financial and risk management; professional services and consulting; and check processing

Corporate and Other supports the reportable segments described above, and consists of amortization of acquisition-related intangible assets, unallocated corporate expenses and other activities that are not considered when management evaluates segment performance, such as gains or losses on sales of businesses, certain assets or investments; costs associated with acquisition and divestiture activity; certain services revenue associated with various dispositions; and postage reimbursements.

Operating results for each segment were as follows:

	Reportable Segments
(In millions)	Merchant		Financial		Corporate and Other		Total
Three Months Ended March 31, 2024
Processing and services revenue	$	2,010	$	1,985	$	5	$	4,000
Product revenue	243		300		340		883
Total revenue	$	2,253	$	2,285	$	345	$	4,883
Operating income (loss)	$	769	$	1,008	$	(596)	$	1,181
Three Months Ended March 31, 2023
Processing and services revenue	$	1,727	$	1,940	$	6	$	3,673
Product revenue	269		283		322		874
Total revenue	$	1,996	$	2,223	$	328	$	4,547
Operating income (loss)	$	592	$	943	$	(601)	$	934