Segment Information

9 Months Ended

Sep. 30, 2022

Segment Information

Segment Information

(20)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 set forth below. Segment profit, which is the measure used by our chief operating decision maker to evaluate the performance of and allocate resources to our segments, is calculated as 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.

Certain corporate-wide governance functions, as well as depreciation and amortization, are not allocated to our segments. The Company does not evaluate performance or allocate resources based on segment assets, and therefore, such information is not presented.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)					(In thousands)
Segment revenue:
Americas	$	80,172	$	79,424	$	238,724	$	226,830
Europe		58,491		55,617		164,536		136,626
Revenue	$	138,663	$	135,041	$	403,260	$	363,456
Segment profit:
Americas	$	36,558	$	37,327	$	105,167	$	105,084
Europe		33,251		22,086		65,371		48,267
Total segment profit		69,809		59,413		170,538		153,351
Corporate		(19,446)		(10,481)		(37,419)		(26,618)
Depreciation and amortization		(21,136)		(21,941)		(60,453)		(63,562)
Net interest expense		(3,491)		(5,669)		(10,405)		(17,258)
Provision for income tax expense		(18,513)		(8,284)		(29,614)		(19,859)
Share-based compensation expense		(7,237)		(9,172)		(21,947)		(21,459)
Less: Net (loss) income attributable to non-controlling interests of EVO Investco, LLC		(220)		1,396		3,558		(196)
Net income attributable to EVO Payments, Inc.	$	206	$	2,470	$	7,142	$	4,791
Capital expenditures:
Americas	$	4,302	$	2,556	$	12,605	$	9,244
Europe		4,395		3,414		14,169		16,685
Consolidated total capital expenditures	$	8,697	$	5,970	$	26,774	$	25,929

The Company’s long-lived assets, which consist of equipment and improvements, net, and operating lease right-of-use assets, by geographic location are as follows:

	September 30,		December 31,
	2022		2021
	(In thousands)
Long-lived assets:
United States	$	29,095	$	30,228
Poland		28,093		31,534
Mexico		17,420		18,554
Other		24,040		22,894
Totals	$	98,648	$	103,210

Revenue is attributed to individual countries based on the location where the relationship is managed. For the three months ended September 30, 2022, revenue in the United States, Mexico, and Poland, as a percentage of total consolidated revenue, was 34.4%, 19.8%, and 18.7%, respectively. For the three months ended September 30, 2021, revenue in the United States, Mexico, and Poland, as a percentage of total consolidated revenue, was 36.5%, 18.8%, and 19.4%, respectively. For the nine months ended September 30, 2022, revenue in the United States, Mexico, and Poland, as a percentage of total consolidated revenue, was 35.5%, 20.2%, and 18.2%, respectively. For the nine months ended September 30, 2021, revenue in the United States, Mexico, and Poland, as a percentage of total consolidated revenue, was 39.1%, 20.1%, and 17.7%, respectively. For the three and nine months ended September 30, 2022 and 2021, no individual customer represented more than 10% of total revenue.