XML 93 R24.htm IDEA: XBRL DOCUMENT v3.19.3
Segment Information
9 Months Ended
Sep. 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 September 30, 

 

Nine Months Ended September 30, 

 

    

2019

    

2018

    

2019

    

2018

    

 

    

(In thousands) 

    

(In thousands) 

Segment revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

75,022

 

$

79,487

 

$

222,643

 

$

232,687

 

Europe

 

 

47,341

 

 

65,271

 

 

133,755

 

 

181,244

 

Revenue

 

$

122,363

 

$

144,758

 

$

356,398

 

$

413,931

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment profit:

 

 

  

 

 

  

 

 

  

 

 

  

 

North America

 

$

23,086

 

$

30,962

 

$

65,616

 

$

73,616

 

Europe

 

 

18,542

 

 

15,985

 

 

41,858

 

 

42,657

 

Total segment profit

 

 

41,628

 

 

46,947

 

 

107,474

 

 

116,273

 

Corporate

 

 

(9,212)

 

 

(8,518)

 

 

(25,095)

 

 

(31,879)

 

Depreciation and amortization

 

 

(22,804)

 

 

(20,488)

 

 

(68,412)

 

 

(61,308)

 

Net interest expense

 

 

(10,227)

 

 

(10,076)

 

 

(31,738)

 

 

(45,831)

 

Provision for income tax (expense) benefit

 

 

(3,590)

 

 

(32,155)

 

 

618

 

 

(7,974)

 

Share-based compensation expense

 

 

(3,019)

 

 

(2,021)

 

 

(7,841)

 

 

(53,284)

 

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

 

 

5,380

 

 

(1,078)

 

 

18,323

 

 

73,328

 

Net loss attributable to EVO Payments, Inc.

 

$

(1,844)

 

$

(27,389)

 

$

(6,671)

 

$

(10,675)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

5,393

 

$

7,010

 

$

12,948

 

$

19,802

 

Europe

 

 

5,943

 

 

5,983

 

 

11,691

 

 

19,161

 

Consolidated total capital expenditures

 

$

11,336

 

$

12,993

 

$

24,639

 

$

38,963

 

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 

 

December 31, 

 

 

 

 

 

 

 

 

2019

    

2018

 

 

 

 

 

 

 

 

(In thousands) 

Segment total assets:

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

 

 

 

 

 

 

$

1,094,614

 

$

994,952

Europe

 

 

 

 

 

 

 

 

505,035

 

 

539,435

Total assets

 

 

 

 

 

 

 

$

1,599,649

 

$

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 September 30, 2019, revenue from external customers in the United States, Mexico, and Poland, as a percentage of total revenue, was 40.2%, 18.9%, and 18.2%, respectively. For the three months ended September 30, 2018, revenue from external customers in the United States, Poland, and Mexico, as a percentage of total revenue, was 37.1%,  24.1%, and 19.0%, respectively. For the nine months ended September 30, 2019, revenue from external customers in the United States, Mexico, and Poland, as a percentage of total revenue, was 41.0%, 19.4%, and 18.0%, respectively. For the nine months ended September 30, 2018, revenue from external customers in the United States, Poland and Mexico, as a percentage of total revenue, was 35.7%,  24.2%, and 19.9%, respectively. For the three and nine months ended September 30, 2019 and 2018, there is no one customer that represents more than 10% of total revenue.