v3.24.2
Revenues (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following tables disaggregate the Company’s consolidated revenues, substantially all of which relate to services transferred to the customer over time:
Three Months Ended June 30, 2024
(in millions)MobilityCorporate PaymentsBenefitsTotal
Topic 606 revenues
Payment processing revenue$177.2 $116.2 $24.9 $318.4 
Account servicing revenue9.5 10.3 108.4 128.3 
Other revenue26.3 — 5.6 31.9 
Total Topic 606 revenues$213.0 $126.6 $138.9 $478.6 
Non-Topic 606 revenues146.5 7.5 40.8 194.9 
Total revenues$359.6 $134.1 $179.8 $673.5 
Three Months Ended June 30, 2023
(in millions)MobilityCorporate PaymentsBenefitsTotal
Topic 606 revenues
Payment processing revenue$172.2 $104.7 $23.6 $300.5 
Account servicing revenue4.5 10.6 101.5 116.6 
Other revenue21.2 — 6.2 27.4 
Total Topic 606 revenues$197.9 $115.3 $131.3 $444.5 
Non-Topic 606 revenues142.2 6.6 27.9 176.7 
Total revenues$340.2 $121.9 $159.2 $621.3 
Six Months Ended June 30, 2024
(In millions)MobilityCorporate PaymentsBenefitsTotal
Topic 606 revenues
Payment processing revenue$347.9 $219.4 $53.1 $620.4 
Account servicing revenue18.7 20.3 225.4 264.4 
Other revenue49.8 — 13.3 63.2 
Total Topic 606 revenues$416.4 $239.7 $291.8 $948.0 
Non-Topic 606 revenues282.1 16.9 79.2 378.1 
Total revenues$698.5 $256.6 $371.0 $1,326.1 
Six Months Ended June 30, 2023
(In millions)MobilityCorporate PaymentsBenefitsTotal
Topic 606 revenues
Payment processing revenue$343.7 $194.8 $50.1 $588.6 
Account servicing revenue8.9 21.2 211.3 $241.4 
Other revenue44.5 — 14.0 58.5 
Total Topic 606 revenues$397.1 $216.0 $275.4 $888.5 
Non-Topic 606 revenues285.4 10.7 48.7 344.8 
Total revenues$682.5 $226.7 $324.1 $1,233.3 
Schedule of Contract Assets and Liabilities The following table provides information about these contract balances:
(in millions)
Contract balanceLocation on the condensed consolidated balance sheetsJune 30, 2024December 31, 2023
ReceivablesAccounts receivable, net$56.7 $59.1 
Contract assetsPrepaid expenses and other current assets18.6 11.5 
Contract assetsOther assets29.0 33.1 
Contract liabilitiesAccrued expenses and other current liabilities26.7 12.4 
Contract liabilitiesOther liabilities64.3 83.0 
Schedule of Remaining Performance Obligations
The following table includes revenue expected to be recognized related to remaining performance obligations at the end of the indicated reporting period.
(in millions)
Remaining 202420252026202720282029ThereafterTotal
Minimum monthly fees1
$29.7 $28.3 $11.9 $6.2 $4.1 $1.5 $— $81.7 
Other2
15.3 31.7 32.1 27.5 5.9 — — 112.6 
Total remaining performance obligations$45.0 $60.0 $44.0 $33.7 $10.0 $1.5 $— $194.3 
(1)The transaction price allocated to the remaining performance obligations represents the minimum monthly fees on certain service contracts, which contain substantive termination penalties that require the counterparty to pay the Company for the aggregate remaining minimum monthly fees upon an early termination for convenience. These obligations will be recognized within account servicing revenue.
(2)Substantially represents deferred revenue and contractual minimums associated with payment processing service obligations. Consideration associated with certain relationships is variable and the measurement and estimation of contract consideration is contingent upon payment processing volumes and maintaining volume shares, among others.