v3.26.1
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
As part of our Worldpay integration, in the second quarter of 2026, we realigned into three reportable segments: Enterprise, Platforms and SMB. These reportable segments reflect how our chief operating decision maker ("CODM") manages the business, allocates resources and evaluates operating performance. Corporate activities, including centralized administrative and shared functions, are not managed as an operating segment and are presented separately as reconciling items to consolidated results. All prior segment information has been recast to reflect our new segment structure and current period presentation.

Through our Enterprise segment, we provide payment and related commerce solutions to large enterprises and multinational clients. Our offerings include card-present and card-not-present payment acceptance, solutions that help businesses accept payments across channels, emerging AI-driven commerce platforms, and other value-added software and service offerings designed to support complex payment environments.

Through our Platforms segment, we provide payment and embedded commerce solutions through software partners, integrated software vendors, PayFacs, marketplaces and other technology-enabled platforms across numerous vertical markets. Our offerings include embedded payment acceptance, payment facilitation services, platform enablement technologies and other value-added commerce solutions.

Through our SMB segment, we provide payment, software and related commerce solutions to SMBs. Our offerings include point-of-sale technologies, business management software and other value-added commerce solutions designed to help our SMB clients operate and grow their businesses.

Our Chief Executive Officer is the CODM. We evaluate performance and allocate resources based on segment operating income. Segment operating income includes externally generated revenues attributable to the segment less expenses directly related to those revenues. Centrally-managed corporate costs, technology and operations costs, share-based compensation expense, corporate bonus costs, impairment of goodwill, gains or losses on business dispositions and other reconciling items are not included in determining segment operating income. Interest and other income, interest and other expense, income tax expense and equity in income of equity method investments are not allocated to the reportable segments. The CODM uses segment operating income in the annual budget and forecasting process and considers budget-to-actual and forecast-to-actual variances on a monthly, quarterly and annual basis. The CODM does not evaluate the performance of or allocate resources to the reportable segments using asset data. The accounting policies of our reportable segments are the same as those described in our Annual Report on Form 10-K for the year ended December 31, 2025, and our summary of significant accounting policies in "Note 1—Basis of Presentation and Summary of Significant Accounting Policies."
Operating results for each reportable segment for the three and six months ended June 30, 2026 and 2025 were as follows:

Three Months Ended June 30, 2026
(in thousands)EnterprisePlatformsSMBTotal
Segment revenues (1)
$838,301 $652,768 $1,648,952 $3,140,021 
Less segment expenses:
Cost of service (2)
71,438 30,641 161,240 263,319 
Selling, general and administrative (2)
108,843 330,598 527,726 967,167 
Depreciation and amortization (3)
410,427 98,735 331,526 840,688 
Segment operating income$247,593 $192,794 $628,460 $1,068,847 
Reconciliation of segment operating income
Other revenues (1)
180,770 
Corporate and other expenses (4)
(449,966)
Technology, operations and product development expenses (5)
(462,530)
Operating income (6)
$337,121 

Three Months Ended June 30, 2025
(in thousands)EnterprisePlatformsSMBTotal
Segment revenues (1)
$149,022 $287,774 $1,333,423 $1,770,219 
Less segment expenses:
Cost of service (2)
13,048 4,316 119,404 136,768 
Selling, general and administrative (2)
21,754 144,974 342,622 509,350 
Depreciation and amortization (3)
29,915 18,236 202,210 250,361 
Segment operating income$84,305 $120,248 $669,187 $873,740 
Reconciliation of segment operating income
Other revenues (1)
199,068 
Corporate and other expenses (4)
(396,748)
Technology, operations and product development expenses (5)
(249,801)
Impairment of goodwill(33,218)
Gain on business disposition267 
Operating income (6)
$393,308 
Six Months Ended June 30, 2026
(in thousands)EnterprisePlatformsSMBTotal
Segment revenues (1)
$1,560,690 $1,220,854 $3,152,293 $5,933,837 
Less segment expenses:
Cost of service (2)
113,571 49,265 299,377 462,213 
Selling, general and administrative (2)
223,509 616,251 1,019,627 1,859,387 
Depreciation and amortization (3)
814,522 195,566 652,626 1,662,714 
Segment operating income$409,088 $359,772 $1,180,663 $1,949,523 
Reconciliation of segment operating income
Other revenues (1)
356,636 
Corporate and other expenses (4)
(1,093,550)
Technology, operations and product development expenses (5)
(891,134)
Operating income (6)
$321,475 

Six Months Ended June 30, 2025
(in thousands)EnterprisePlatformsSMBTotal
Segment revenues (1)
$284,499 $561,906 $2,546,981 $3,393,386 
Less segment expenses:
Cost of service (2)
27,326 9,611 229,992 266,929 
Selling, general and administrative (2)
42,337 280,405 664,546 987,288 
Depreciation and amortization (3)
60,001 36,439 399,807 496,247 
Segment operating income$154,835 $235,451 $1,252,636 $1,642,922 
Reconciliation of segment operating income
Other revenues (1)
396,219 
Corporate and other expenses (4)
(733,770)
Technology, operations and product development expenses (5)
(511,146)
Impairment of goodwill(33,218)
Gain on business disposition4,260 
Operating income (6)
$765,267 

(1) Consolidated revenues as reported in our consolidated statements of income for the three months ended June 30, 2026 and 2025 of $3,320.8 million and $1,969.3 million, respectively, is comprised of segment revenues of $3,140.0 million and $1,770.2 million, respectively, and other revenues of $180.8 million and $199.1 million, respectively. Consolidated revenues as reported in our consolidated statements of income for the six months ended June 30, 2026 and 2025 of $6,290.5 million and $3,789.6 million, respectively, is comprised of segment revenues of $5,933.8 million and $3,393.4 million, respectively, and other revenues of $356.6 million and $396.2 million, respectively. Other revenues primarily consist of revenues related to certain portfolios and relationships that are non-core and are not aligned to our go forward strategy.

(2) Excludes depreciation and amortization as it is presented separately.
(3) Consolidated depreciation and amortization for the three months ended June 30, 2026 and 2025 of $884.1 million and $297.2 million, respectively, is comprised of depreciation and amortization within the reportable segments of $840.7 million and $250.4 million, respectively, and depreciation and amortization not allocated to the segments of $43.4 million and $46.8 million, respectively. Consolidated depreciation and amortization for the six months ended June 30, 2026 and 2025 of $1,748.8 million and $589.7 million, respectively, is comprised of depreciation and amortization within the reportable segments of $1,662.7 million and $496.2 million, respectively, and depreciation and amortization not allocated to the segments of $86.1 million and $93.5 million, respectively.

For the three months ended June 30, 2026, includes amortization of acquisition-related intangible assets within the reportable segments of $404.2 million, $90.8 million and $262.6 million for Enterprise, Platforms and SMB, respectively. For the three months ended June 30, 2025, includes amortization of acquisition-related intangible assets within the reportable segments of $29.1 million, $13.4 million and $158.2 million for Enterprise, Platforms and SMB, respectively. For the six months ended June 30, 2026, includes amortization of acquisition-related intangible assets within the reportable segments of $806.2 million, $180.6 million and $518.0 million for Enterprise, Platforms and SMB, respectively. For the six months ended June 30, 2025, includes amortization of acquisition-related intangible assets within the reportable segments of $58.3 million, $26.7 million and $312.9 million for Enterprise, Platforms and SMB, respectively.

(4) Comprised of centrally managed corporate functions, including human resources, finance, legal and compliance.

(5) Technology, operations and product development expenses relate to functions managed at the corporate level, which support and benefit the overall business.

(6) Operating income includes acquisition, transformation and transaction expenses of $197.8 million and $133.7 million for the three months ended June 30, 2026 and 2025, respectively, which were primarily included within Corporate and other expenses. For the six months ended June 30, 2026 and 2025, operating income included acquisition, transformation, and transaction expenses of $585.1 million and $228.3 million, respectively, which were primarily included within Corporate and other expenses.