REVENUES

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

REVENUES

REVENUES

The following tables present a disaggregation of our revenue from contracts with customers by geography for each of our reportable segments for the three months ended March 31, 2020 and 2019:

	Three Months Ended March 31, 2020
	Merchant Solutions		Issuer Solutions		Business and Consumer Solutions		Intersegment Revenue			Total
	(in thousands)
Americas	$	1,024,504	$	393,754	$	203,946	$	(17,733	)	$	1,604,471
Europe	135,999		108,362		—		—			244,361
Asia Pacific	54,766		1,646		—		(1,646		)	54,766
	$	1,215,269	$	503,762	$	203,946	$	(19,379	)	$	1,903,598

	Three Months Ended March 31, 2019
	Merchant Solutions		Issuer Solutions		Business and Consumer Solutions		Intersegment Revenue		Total
	(in thousands)
Americas	$	678,423	$	—	$	—	$	—	$	678,423
Europe	137,613		5,256		—		—		142,869
Asia Pacific	61,747		—		—		—		61,747
	$	877,783	$	5,256	$	—	$	—	$	883,039

The following table presents a disaggregation of our Merchant Solutions segment revenues by distribution channel for the three months ended March 31, 2020 and 2019:

	March 31, 2020		March 31, 2019
	(in thousands)
Relationship-led	$	676,522	$	462,387
Technology-enabled	538,747		415,396
	$	1,215,269	$	877,783

Accounting Standards Codification Topic 606, Revenues from Contracts with Customers ("ASC 606") requires that we determine for each customer arrangement whether revenue should be recognized at a point in time or over time. For the three months ended March 31, 2020 and 2019, substantially all of our revenues were recognized over time.

Supplemental balance sheet information related to contracts from customers as of March 31, 2020 and December 31, 2019 was as follows:

	Balance Sheet Location	March 31, 2020		December 31, 2019
		(in thousands)
Assets:
Capitalized costs to obtain customer contracts, net	Other noncurrent assets	$	232,030	$	226,945
Capitalized costs to fulfill customer contracts, net	Other noncurrent assets	$	52,573	$	38,150
Liabilities:
Contract liabilities, net (current)	Accounts payable and accrued liabilities	$	187,084	$	193,405
Contract liabilities, net (noncurrent)	Other noncurrent liabilities	$	42,556	$	35,272

Net contract assets were not material at March 31, 2020 or at December 31, 2019. Revenue recognized for the three months ended March 31, 2020 and 2019 from contract liability balances at the beginning of each period was $90.8 million and $58.5 million, respectively.

ASC 606 requires disclosure of the aggregate amount of the transaction price allocated to unsatisfied performance obligations. The purpose of this disclosure is to provide additional information about the amounts and expected timing of revenue to be recognized from the remaining performance obligations in our existing contracts. The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at March 31, 2020. However, as permitted, we have elected to exclude from this disclosure any contracts with an original duration of one year or less and any variable consideration that meets specified criteria. Accordingly, the total unsatisfied or partially unsatisfied performance obligations related to processing services is significantly higher than the amounts disclosed in the table below (in thousands):

Year ending December 31,
Remainder of 2020	$	687,211
2021	795,626
2022	603,497
2023	396,016
2024	245,923
2025-2029	564,501
Total	$	3,292,774