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Business segment information (Tables)

3 Months Ended

Mar. 31, 2020

The following is our segment information for the quarters ended March 31, 2020 and 2019. The segment information for 2019 has been revised to reflect our current segment structure.



	Quarter Ended March 31,
(in thousands)	2020		2019
Payments:
Revenue	$	77,040	$	65,150
Adjusted EBITDA	18,023		16,867
Cloud Solutions:
Revenue	75,945		78,288
Adjusted EBITDA	14,920		17,060
Promotional Solutions:
Revenue	142,794		155,829
Adjusted EBITDA	11,197		23,590
Checks:
Revenue	190,644		199,798
Adjusted EBITDA	90,712		102,234
Total segment:
Revenue	$	486,423	$	499,065
Adjusted EBITDA	134,852		159,751

Reconciliation of adjusted EBITDA to pretax (loss) income

The following table presents a reconciliation of total segment adjusted EBITDA to consolidated (loss) income before income taxes:



	Quarter Ended March 31,
(in thousands)	2020			2019
Total segment adjusted EBITDA	$	134,852		$	159,751
Corporate operations	(51,518		)	(46,043		)
Depreciation and amortization	(28,430		)	(32,419		)
Interest expense	(6,999		)	(9,301		)
Asset impairment charges	(90,330		)	—
Restructuring, integration and other costs	(19,633		)	(6,283		)
CEO transition costs	180			(5,488		)
Share-based compensation expense	(3,618		)	(3,291		)
Acquisition transaction costs	(9		)	(177		)
Certain legal-related expenses	2,164			(412		)
Loss on sales of businesses and customer lists	—			(99		)
(Loss) income before income taxes	$	(63,341	)	$	56,238

Revenue disaggregated by product and service offerings

The following tables present revenue disaggregated by our product and service offerings. In conjunction with the realignment of our reportable segments on January 1, 2020, we refined the disaggregation of our revenue by product and service offering. As such, certain amounts reported in the prior year have been revised from previously reported amounts.



	Quarter Ended March 31, 2020
(in thousands)	Payments		Cloud Solutions		Promotional Solutions		Checks		Consolidated
Checks	$	—	$	—	$	—	$	190,644	$	190,644
Forms and other products	—		—		81,813		—		81,813
Marketing and promotional solutions	—		—		60,981		—		60,981
Treasury management solutions	56,867		—		—		—		56,867
Data-driven marketing solutions	—		38,997		—		—		38,997
Web and hosted solutions	—		36,948		—		—		36,948
Other payments solutions	20,173		—		—		—		20,173
Total revenue	$	77,040	$	75,945	$	142,794	$	190,644	$	486,423



	Quarter Ended March 31, 2019
(in thousands)	Payments		Cloud Solutions		Promotional Solutions		Checks		Consolidated
Checks	$	—	$	—	$	—	$	199,798	$	199,798
Forms and other products	—		—		86,706		—		86,706
Marketing and promotional solutions	—		—		69,123		—		69,123
Treasury management solutions	45,471		—		—		—		45,471
Data-driven marketing solutions	—		36,784		—		—		36,784
Web and hosted solutions	—		41,504		—		—		41,504
Other payments solutions	19,679		—		—		—		19,679
Total revenue	$	65,150	$	78,288	$	155,829	$	199,798	$	499,065

Revenue disaggregated by geography

The following tables present revenue disaggregated by geography, based on where items are shipped from or where services are performed:



	Quarter Ended March 31, 2020
(in thousands)	Payments		Cloud Solutions		Promotional Solutions		Checks		Consolidated
United States	$	68,358	$	68,070	$	136,814	$	184,294	$	457,536
Foreign, primarily Canada and Australia	8,682		7,875		5,980		6,350		28,887
Total revenue	$	77,040	$	75,945	$	142,794	$	190,644	$	486,423



	Quarter Ended March 31, 2019
(in thousands)	Payments		Cloud Solutions		Promotional Solutions		Checks		Consolidated
United States	$	56,944	$	69,451	$	149,423	$	194,087	$	469,905
Foreign, primarily Canada and Australia	8,206		8,837		6,406		5,711		29,160
Total revenue	$	65,150	$	78,288	$	155,829	$	199,798	$	499,065