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Segment Information
6 Months Ended
Jun. 30, 2018
Segment Information  
Segment Information

(14)Segment Information

Information on segments and reconciliations to revenue and net income attributable to the shareholders of EVO, Inc. and members of EVO, LLC are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 

 

Six Months Ended June 30, 

 

    

2018

    

2017

    

2018

    

2017

 

    

(In thousands) 

    

(In thousands) 

Segment revenue:

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

79,825

 

$

74,481

 

$

153,200

 

$

141,914

Europe

 

 

61,066

 

 

49,418

 

 

115,973

 

 

91,605

Revenue

 

$

140,891

 

$

123,899

 

$

269,173

 

$

233,519

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment profit:

 

 

  

 

 

  

 

 

  

 

 

  

North America

 

$

21,774

 

$

21,912

 

$

42,652

 

$

35,637

Europe

 

 

14,568

 

 

13,866

 

 

26,672

 

 

25,394

Total segment profit

 

 

36,343

 

 

35,778

 

 

69,324

 

 

61,031

Corporate

 

 

(13,727)

 

 

(5,849)

 

 

(23,360)

 

 

(10,142)

Depreciation and amortization

 

 

(20,933)

 

 

(18,613)

 

 

(40,820)

 

 

(35,673)

Net interest expense

 

 

(20,929)

 

 

(15,247)

 

 

(35,755)

 

 

(29,939)

Provision for income tax benefit (expense)

 

 

28,609

 

 

(5,543)

 

 

24,181

 

 

(9,357)

Share-based compensation

 

 

(51,263)

 

 

 —

 

 

(51,263)

 

 

 —

Net loss attributable to EVO Investco, LLC

 

 

 

 

$

(9,474)

 

 

 

 

$

(24,080)

Net income attributable to non-controlling interest of EVO Investco, LLC

 

 

58,613

 

 

 

 

 

74,406

 

 

 

Net income attributable to EVO Payments, Inc.

 

$

16,713

 

 

 

 

$

16,713

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

 

 

 

  

 

 

 

North America

 

$

8,152

 

$

1,630

 

$

12,792

 

$

5,085

Europe

 

 

9,228

 

 

5,122

 

 

13,178

 

 

9,065

Consolidated total capital expenditures

 

$

17,380

 

$

6,752

 

$

25,970

 

$

14,150

For the purpose of discussing segment operations, the Company refers to “segment profit” which is segment revenue less (1) segment expenses plus (2) segment income from unconsolidated investees plus (3) segment other income, net less (4) segment non-controlling interests of EVO, LLC consolidating entities. The expenses related to certain Company-wide governance functions and EVO, LLC non-controlling interests, and are not allocated to segments; they are reported in the captions “Corporate” and “Net income attributable to non-controlling interest of EVO Investco, LLC”, respectively. Depreciation and amortization expenses are also not allocated to segments.

 

 

 

 

Information on segments and reconciliations to total assets are as follows:

 

 

 

 

 

 

 

 

 

June 30, 

 

December 31, 

Segment total assets:

 

2018

 

2017

North America

 

$

1,031,954

 

$

1,010,859

Europe

 

 

480,726

 

 

497,439

Total assets

 

$

1,512,680

 

$

1,508,298

Revenue from external customers is attributed to individual countries based on the location where the relationship is managed. For the three months ended June 30, 2018, revenue from external customers in the United States, Poland and Mexico, as a percentage of revenues, were 37.0%,  24.1%, and 19.0%, respectively.  For the three months ended June 30, 2017, revenue from external customers in the United States, Poland and Mexico, as a percentage of revenue, were 39.9%,  20.5%, and 20.2%, respectively. For the six months ended June 30, 2018, revenue from external customers in the United States, Poland and Mexico, as a percentage of revenue, were 36.5%,  23.9%, and 19.8%, respectively.  For the six months ended June 30, 2017, revenue from external customers in the United States, Poland and Mexico, as a percentage of revenue, were 40.7%,  20.5%, and 20.0%, respectively. For the three and six months ended June 30, 2018 and 2017, there is no one customer that represents more than 10% of revenue in the segments.