SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATIONWe operate in three reportable segments: Merchant Solutions, Issuer Solutions and Business and Consumer Solutions. We evaluate performance and allocate resources based on the operating income of each operating segment. The operating income of each operating segment includes the revenues of the segment less expenses that are directly related to those revenues. Operating overhead, shared costs and share-based compensation costs are included in Corporate. Impairment of goodwill and gains or losses on business dispositions are not included in segment operating income. Interest and other income, interest and other expense, income tax expense and equity in income of equity method investments, net of tax, are not allocated to the individual segments. We do not evaluate the performance of or allocate resources to our operating segments using asset data. The accounting policies of the reportable operating segments are the same as those described in our Annual Report on Form 10-K for the year ended December 31, 2021 and our summary of significant accounting policies in "Note 1—Basis of Presentation and Summary of Significant Accounting Policies."

During the first quarter of 2022, the recently acquired operations of MineralTree were reassigned to the Issuer Solutions segment to reflect how the business will be managed going forward. As a result of the planned divestiture of the consumer portion of our Business and Consumer Solutions segment, we anticipate that we will realign the retained business-to-business portion of the Business and Consumer Solutions segment to the Issuer Solutions segment during the third quarter of 2022 to reflect how the business will be managed going forward. We would begin reporting on the revised basis during the third quarter of 2022 and recast prior periods to reflect the change in segment reporting.

Information on segments and reconciliations to consolidated revenues, consolidated operating income and consolidated depreciation and amortization were as follows for the three and six months ended June 30, 2022 and 2021:

	Three Months Ended				Six Months Ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
	(in thousands)
Revenues:(1)
Merchant Solutions	$	1,581,716	$	1,426,755	$	3,054,735	$	2,694,627
Issuer Solutions	534,471		505,932		1,045,972		1,006,183
Business and Consumer Solutions	187,632		227,355		383,404		470,941
Intersegment eliminations	(22,913)		(22,605)		(46,951)		(44,307)
Consolidated revenues	$	2,280,906	$	2,137,437	$	4,437,160	$	4,127,444
Operating income (loss)(1):
Merchant Solutions	$	535,359	$	437,293	$	979,889	$	777,283
Issuer Solutions	67,715		74,806		125,816		143,262
Business and Consumer Solutions	31,726		42,283		65,385		104,205
Corporate(2)	(179,372)		(191,824)		(339,715)		(386,933)
Impairment of goodwill(3)	(833,075)		—		(833,075)		—
Loss on business dispositions(4)	(152,211)		—		(152,211)		—
Consolidated operating income (loss)	$	(529,858)	$	362,558	$	(153,911)	$	637,817
Depreciation and amortization:(1)
Merchant Solutions	$	248,891	$	248,503	$	498,852	$	499,099
Issuer Solutions	153,457		145,691		305,580		290,300
Business and Consumer Solutions	20,268		21,938		40,536		43,858
Corporate	4,960		5,912		11,280		14,359
Consolidated depreciation and amortization	$	427,576	$	422,044	$	856,248	$	847,616

(1) Revenues, operating income (loss) and depreciation and amortization reflect the effects of acquired businesses from the respective acquisition dates and the effects of divested businesses through the respective disposal dates. See “Note 2—Acquisition” and “Note 3—Business Dispositions” for further discussion.

(2) Operating loss for Corporate included acquisition and integration expenses of $61.4 million and $76.8 million during the three months ended June 30, 2022 and 2021, respectively. Operating loss for Corporate included acquisition and integration expenses of $109.5 million and $167.0 million during the six months ended June 30, 2022 and 2021, respectively.

(3) During the three and six months ended June 30, 2022, consolidated operating loss included a $833.1 million goodwill impairment charge related to the Business and Consumer Solutions reporting unit. See “Note 5—Goodwill and Other Intangible Assets” for further discussion.

(4) During the three and six months ended June 30, 2022, consolidated operating loss included a $127.2 million loss on the sale of our Merchant Solutions business in Russia and a charge for the estimated costs to sell our consumer business.