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Segment Information
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Information
The Company's reporting segments are primarily organized based on the nature of products and services offered and the type of consumer served. The Company has two reporting segments: Global Funds Transfer and Financial Paper Products. See Note 1 — Description of the Business and Basis of Presentation for further discussion on our segments. Walmart is our only agent, for both the Global Funds Transfer and Financial Paper Products segments, that accounts for more than 10% of total revenue. In 2020, Walmart accounted for 13% of total revenue and 16% in 2019 and 2018.
The Company's Chief Operating Decision Maker reviews segment operating income and segment operating margin to assess segment performance and allocate resources. Segment accounting policies are the same as those described in Note 2 — Summary of Significant Accounting Policies. Investment revenue is allocated to each segment based on the average investable balances generated by that segment's sale of payment instruments during the period.
All operating expenses that have not been classified in the above segments are reported as "Other". These unallocated expenses in 2020 include $0.7 million of legal expenses and other net corporate costs of $1.2 million. These unallocated expenses in 2019 include $1.6 million of legal expenses; outsourcing, independent contractor and consultant costs of $1.4 million; and other net corporate costs of $0.8 million. Unallocated expenses in 2018 include $2.6 million of legal expenses; outsourcing, independent contractor and consultant costs of $1.8 million; and other net corporate costs of $1.8 million.
The following table is a summary of the total revenue by segment for the years ended December 31:
(Amounts in millions)202020192018
Global Funds Transfer revenue
Money transfer revenue$1,104.7 $1,123.9 $1,273.4 
Bill payment revenue46.2 59.4 74.5 
Total Global Funds Transfer revenue1,150.9 1,183.3 1,347.9 
Financial Paper Products revenue
Money order revenue43.4 53.0 55.3 
Official check revenue22.9 48.8 44.4 
Total Financial Paper Products revenue66.3 101.8 99.7 
Total revenue$1,217.2 $1,285.1 $1,447.6 
The following table is a summary of the operating income (loss) by segment and detail of the income (loss) before income taxes for the years ended December 31:
(Amounts in millions)202020192018
Global Funds Transfer operating income (loss)$84.4 $22.0 $(5.9)
Financial Paper Products operating income20.5 33.8 30.6 
Total segment operating income104.9 55.8 24.7 
Other operating loss(1.9)(3.8)(6.2)
Total operating income103.0 52.0 18.5 
Interest expense92.4 77.0 53.6 
Other non-operating expense (income)4.5 39.3 (24.2)
Income (loss) before income taxes$6.1 $(64.3)$(10.9)
The following table is a summary of depreciation and amortization expense by segment for the years ended December 31:
(Amounts in millions)202020192018
Global Funds Transfer$57.3 $65.8 $68.1 
Financial Paper Products7.1 8.0 8.0 
Other— — 0.2 
Total depreciation and amortization$64.4 $73.8 $76.3 
The following table is a summary of capital expenditures by segment for the years ended December 31:
(Amounts in millions)202020192018
Global Funds Transfer$31.5 $50.5 $50.7 
Financial Paper Products3.9 6.1 5.8 
Total capital expenditures$35.4 $56.6 $56.5 
The following table sets forth assets by segment as of December 31:
(Amounts in millions)20202019
Global Funds Transfer$1,397.2 $1,318.3 
Financial Paper Products3,247.4 2,819.1 
Other29.5 47.6 
Total assets$4,674.1 $4,185.0 
Revenue by geographic area — International revenues are defined as revenues generated from money transfer and bill payment transactions originating in a country other than the U.S. There are no individual countries from which the Company generates revenues, other than the U.S., that exceed 10% of total revenues for the years ended December 31, 2020, 2019 and 2018. The following table details total revenue by major geographic area for the years ended December 31:
(Amounts in millions)202020192018
U.S.$543.8 $611.4 $743.9 
International673.4 673.7 703.7 
Total revenue$1,217.2 $1,285.1 $1,447.6