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Segment Information
6 Months Ended
Jun. 30, 2019
Segment Information  
Segment Information

(17)Segment Information

Information on segments and reconciliations to net income (loss) 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, 

 

    

2019

    

2018

    

2019

    

2018

    

 

    

(In thousands) 

    

(In thousands) 

Segment revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

77,656

 

$

79,825

 

$

147,621

 

$

153,200

 

Europe

 

 

44,861

 

 

61,066

 

 

86,414

 

 

115,973

 

Revenue

 

$

122,517

 

$

140,891

 

$

234,035

 

$

269,173

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment profit:

 

 

  

 

 

  

 

 

  

 

 

  

 

North America

 

$

27,650

 

$

21,774

 

$

42,530

 

$

42,652

 

Europe

 

 

13,623

 

 

14,568

 

 

23,316

 

 

26,672

 

Total segment profit

 

 

41,273

 

 

36,343

 

 

65,846

 

 

69,324

 

Corporate

 

 

(8,264)

 

 

(13,727)

 

 

(15,883)

 

 

(23,360)

 

Depreciation and amortization

 

 

(22,863)

 

 

(20,933)

 

 

(45,608)

 

 

(40,820)

 

Net interest expense

 

 

(10,534)

 

 

(20,929)

 

 

(21,511)

 

 

(35,755)

 

Provision for income tax expense

 

 

5,196

 

 

28,609

 

 

4,208

 

 

24,181

 

Share-based compensation expense

 

 

(2,977)

 

 

(51,263)

 

 

(4,822)

 

 

(51,263)

 

Net income (loss) attributable to non-controlling interests of EVO Investco, LLC

 

 

(1,368)

 

 

58,613

 

 

12,943

 

 

74,406

 

Net income (loss) attributable to EVO Payments, Inc.

 

$

463

 

$

16,713

 

$

(4,827)

 

$

16,713

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

 

 

 

  

 

 

 

 

North America

 

$

5,514

 

$

8,152

 

$

7,380

 

$

12,792

 

Europe

 

 

1,286

 

 

9,228

 

 

5,923

 

 

13,178

 

Consolidated total capital expenditures

 

$

6,800

 

$

17,380

 

$

13,303

 

$

25,970

 

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, depreciation and amortization, share-based compensation expense, and EVO, LLC non-controlling interests 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.

Information on total assets by segment is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 

 

December 31, 

 

 

 

 

 

 

 

 

2019

    

2018

 

 

 

 

 

 

 

 

(In thousands) 

Segment total assets:

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

 

 

 

 

 

 

$

1,273,453

 

$

994,952

Europe

 

 

 

 

 

 

 

 

573,467

 

 

539,435

Total assets

 

 

 

 

 

 

 

$

1,846,920

 

$

1,534,387

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, 2019, revenue from external customers in the United States, Mexico and Poland, as a percentage of total revenue, were 41.4%, 19.9%, and 17.1%, respectively. For the three months ended June 30, 2018, revenue from external customers in the United States, Poland and Mexico, as a percentage of total revenue, were 37.0%,  24.1%, and 19.0%, respectively. For the six months ended June 30, 2019, revenue from external customers in the United States, Mexico and Poland, as a percentage of total revenue, were 41.4%, 19.6%, and 17.8%, respectively. For the six months ended June 30, 2018, revenue from external customers in the United States, Poland and Mexico, as a percentage of total revenue, were 36.5%,  23.9%, and 19.8%, respectively. For the three and six months ended June 30, 2019 and 2018, there is no one customer that represents more than 10% of total revenue.