18. Operating segments

The Company discloses segment information as reflected in the management information systems reports that its chief operating decision maker uses in making decisions and to report certain entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets or reports material revenues. A description of the Company's operating segments is contained in Note 22 to the Company's audited consolidated financial statements included in its Annual Report on Form 10-K/A for the year ended June 30, 2018. As discussed in Note 2, the Company has presented DNI as a discontinued operation.

The reconciliation of the reportable segment's revenue to revenue from external customers for the three months ended March 31, 2019 and 2018, is as follows:


	Revenue
						From
		Reportable		Inter-		external
		Segment		segment		customers
South African transaction processing	$	17,374	$	1,300	$	16,074
International transaction processing		34,358		-		34,358
Financial inclusion and applied technologies		36,650		598		36,052
Total for the three months ended March 31, 2019	$	88,382	$	1,898	$	86,484

South African transaction processing	$	73,508	$	7,429	$	66,079
International transaction processing		46,240		-		46,240
Financial inclusion and applied technologies		59,574		9,172		50,402
Total for the three months ended March 31, 2018	$	179,322	$	16,601	$	162,721

The reconciliation of the reportable segment's revenue to revenue from external customers for the nine months ended March 31, 2019 and 2018, is as follows:


	Revenue
						From
		Reportable		Inter-		external
		Segment		segment		customers
South African transaction processing	$	77,093	$	5,753	$	71,340
International transaction processing		111,869		-		111,869
Financial inclusion and applied technologies		128,611		2,302		126,309
Total for the nine months ended March 31, 2019	$	317,573	$	8,055	$	309,518

South African transaction processing	$	204,093	$	19,755	$	184,338
International transaction processing		136,447		-		136,447
Financial inclusion and applied technologies		168,018		25,108		142,910
Total for the nine months ended March 31, 2018	$	508,558	$	44,863	$	463,695

The Company does not allocate interest income, interest expense or income tax expense to its reportable segments. The Company evaluates segment performance based on segment operating income before acquisition-related intangible asset amortization which represents operating income before acquisition-related intangible asset amortization and allocation of expenses allocated to Corporate/Eliminations, all under GAAP.

The reconciliation of the reportable segments measures of profit or loss to income before income taxes for the three and nine months ended March 31, 2019 and 2018, is as follows:


		Three months ended						Nine months ended
		March 31,						March 31,
		2019			2018			2019			2018
Reportable segments measure of profit or loss	$	(7,818	)	$	12,795		$	(31,678	)	$	65,579
Operating income: Corporate/Eliminations		(13,865	)		(5,231	)		(32,184	)		(16,702	)
Change in fair value of equity securities		(26,263	)		37,843			(42,099	)		37,843
Loss on disposal of DNI		(5,140	)		-			(5,140	)		-
Interest income, net of impairment		(959	)		5,154			586			14,903
Interest expense		(3,493	)		(2,426	)		(9,030	)		(6,872	)
(Loss) Income before income taxes	$	(57,538	)	$	48,135		$	(119,545	)	$	94,751

The following tables summarize segment information that is prepared in accordance with GAAP for the three and nine months ended March 31, 2019 and 2018, with the impact of the deconsolidation of DNI included in discontinued operations:


		Three months ended						Nine months ended
		March 31,						March 31,
		2019			2018			2019			2018
Revenues
South African transaction processing	$	17,374		$	73,508		$	77,093		$	204,093
International transaction processing		34,358			46,240			111,869			136,447
Financial inclusion and applied technologies		36,650			59,574			128,611			168,018
Continuing		18,808			59,574			72,274			168,018
Discontinued		17,842			-			56,337			-
Total		88,382			179,322			317,573			508,558
Continuing		70,540			179,322			261,236			508,558
Discontinued		17,842			-			56,337			-
Operating income (loss)
South African transaction processing⁽¹⁾		(12,954	)		12,719			(28,297	)		38,521
International transaction processing		1,909			(14,892	)		628			(14,567	)
Financial inclusion and applied technologies⁽¹⁾		3,227			14,968			(4,009	)		41,625
Continuing⁽¹⁾		(4,911	)		14,968			(28,409	)		41,625
Discontinued		8,138			-			24,400			-
Subtotal: Operating segments		(7,818	)		12,795			(31,678	)		65,579
Corporate/Eliminations		(13,865	)		(5,231	)		(32,184	)		(16,702	)
Continuing		(6,399	)		(5,231	)		(19,465	)		(16,702	)
Discontinued		(7,466	)		-			(12,719	)		-
Total⁽¹⁾		(21,683	)		7,564			(63,862	)		48,877
Continuing⁽¹⁾		(22,355	)		7,564			(75,543	)		48,877
Discontinued		672			-			11,681			-
Depreciation and amortization
South African transaction processing		914			1,236			2,776			3,476
International transaction processing		2,367			4,668			7,937			13,681
Financial inclusion and applied technologies		616			398			1,657			1,062
Continuing		349			398			1,044			1,062
Discontinued		267			-			613			-
Subtotal: Operating segments		3,897			6,302			12,370			18,219
Corporate/Eliminations		5,984			3,039			18,158			8,811
Continuing		3,824			3,039			10,745			8,811
Discontinued		2,160			-			7,413			-
Total		9,881			9,341			30,528			27,030
Continuing		7,454			9,341			22,502			27,030
Discontinued		2,427			-			8,026			-
Expenditures for long-lived assets
South African transaction processing		434			1,794			2,767			3,171
International transaction processing		712			1,990			2,353			3,788
Financial inclusion and applied technologies		469			441			2,160			842
Continuing		61			441			1,429			842
Discontinued		408			-			731			-
Subtotal: Operating segments		1,615			4,225			7,280			7,801
Corporate/Eliminations		-			-			-			-
Total		1,615			4,225			7,280			7,801
Continuing		1,207			4,225			6,549			7,801
Discontinued	$	408		$	$-		$	731		$	$-

(1) South African transaction processing and Financial inclusion and applies technologies include retrenchment costs for the three months ended March 31, 2019 of: $2,972 (nine months: $3,673) and $1,570 (nine months: $1,570), respectively, for total retrenchment costs for the three months of $4,542 (nine months: $5,243). The retrenchment costs are included in selling, general and administration expense on the unaudited condensed consolidated statement of operations for the three and nine months ended March 31, 2019.

The segment information as reviewed by the chief operating decision maker does not include a measure of segment assets per segment as all of the significant assets are used in the operations of all, rather than any one, of the segments. The Company does not have dedicated assets assigned to a particular operating segment. Accordingly, it is not meaningful to attempt an arbitrary allocation and segment asset allocation is therefore not presented.

It is impractical to disclose revenues from external customers for each product and service or each group of similar products and services.