0001213900-20-020651 | 10-Q | XBRL Viewer

Stockholders' Equity Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Computation of diluted weighted average shares outstanding:
Basic	52,234,465	53,212,759	52,920,784	52,546,647
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements		1,489,700		1,399,123
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities			0
Weighted Average Number of Shares Outstanding, Diluted	52,234,465	54,702,459	52,920,784	53,945,770

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 864,871	$ 786,081
ATM cash	410,459	665,641
Restricted cash	28,050	34,301
Settlement Assets	892,676	1,013,067
Trade accounts receivable, net of credit losses of $4,524 at June 30, 2020 and $3,892 at December 31, 2019	114,755	201,935
Prepaid expenses and other current assets	240,946	217,707
Total current assets	2,551,757	2,918,732
Operating right of use lease asset	158,716	377,543
Property and equipment, net of accumulated depreciation of $428,909 at June 30, 2020 and $410,243 at December 31, 2019	355,279	359,980
Goodwill	624,253	743,823
Acquired intangible assets, net of accumulated amortization of $161,861 at June 30, 2020 and $204,853 at December 31, 2019	127,108	141,847
Other assets, net of accumulated amortization of $50,136 at June 30, 2020 and $46,788 at December 31, 2019	144,422	115,741
Total assets	3,961,535	4,657,666
Current liabilities:
Settlement obligations	892,676	1,013,067
Trade accounts payable	90,966	81,743
Accrued expenses and other current liabilities	306,371	294,557
Current portion of operating lease liabilities	53,106	127,353
Short-term debt obligations and current maturities of long-term debt obligations	875	6,089
Income taxes payable	34,472	52,583
Deferred revenue	58,532	58,588
Total current liabilities	1,436,998	1,633,980
Debt obligations, net of current portion	1,100,619	1,090,939
Operating lease obligations, net of current portion	100,542	241,977
Deferred income taxes	55,782	56,067
Other long-term liabilities	54,934	55,361
Total liabilities	2,748,875	3,078,324
Euronet Worldwide, Inc. stockholders' equity:
Preferred Stock, $0.02 par value. 10,000,000 shares authorized; none issued
Common Stock, $0.02 par value. 90,000,000 shares authorized; 62,934,954 issued at June 30, 2020 and 62,775,762 issued at December 31, 2019	1,259	1,256
Additional paid-in-capital	1,204,985	1,190,058
Treasury stock, at cost, 10,646,423 shares at June 30, 2020 and 8,554,908 shares at December 31, 2019	(703,657)	(463,704)
Retained earnings	902,671	1,016,554
Accumulated other comprehensive loss	(192,522)	(164,890)
Total Euronet Worldwide, Inc. stockholders' equity	1,212,736	1,579,274
Noncontrolling interests	(76)	68
Total equity	1,212,660	1,579,342
Total liabilities and equity	$ 3,961,535	$ 4,657,666

Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net income (loss)	$ (115,733)	$ 68,005	$ (114,013)	$ 102,584
Translation adjustment	32,172	12,161	(27,646)	(4,024)
Comprehensive (loss) income	(83,561)	80,166	(141,659)	98,560
Comprehensive (income) loss attributable to noncontrolling interests	(98)	136	144	129
Comprehensive (loss) income attributable to Euronet Worldwide, Inc.	$ (83,659)	$ 80,302	$ (141,515)	$ 98,689

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

General	6 Months Ended
General	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	(1) GENERAL Organization Euronet Worldwide, Inc. (the “Company” or “Euronet”) was established as a Delaware corporation on December 13, 1997 and succeeded Euronet Holding N.V. as the group holding company, which was founded and established in 1994. Euronet is a leading electronic payments provider. Euronet offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Euronet's primary product offerings include comprehensive automated teller machine (“ATM”), point-of-sale (“POS”), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products, and global money transfer services. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared from the records of the Company, in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, such unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to fairly present the consolidated financial position and the results of operations, comprehensive income, changes in equity and cash flows for the interim periods. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended December 31, 2019, including the notes thereto, set forth in the Company’s 2019 Annual Report on Form 10-K. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include computing income taxes, estimating the useful lives and potential impairment of long-lived assets and goodwill, as well as allocating the purchase price to assets acquired and liabilities assumed in acquisitions and revenue recognition. Actual results could differ from those estimates. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year ending December 31, 2020. Seasonality Euronet’s Electronic Funds Transfer ("EFT") Processing Segment normally experiences its heaviest demand for dynamic currency conversion ("DCC") services during the third quarter of the fiscal year, normally coinciding with the tourism season. Additionally, the EFT Processing and epay Segments are normally impacted by seasonality during the fourth quarter and first quarter of each year due to higher transaction levels during the holiday season and lower levels following the holiday season. Seasonality in the Money Transfer Segment varies by region of the world. In most markets, Euronet usually experiences increased demand for money transfer services from the month of May through the fourth quarter of each year, coinciding with the increase in worker migration patterns and various holidays, and its lowest transaction levels during the first quarter of the year. COVID-19 (coronavirus) The outbreak of the COVID-19 (coronavirus) pandemic has resulted in varying degrees of travel restrictions and shelter-in-place and other social distancing orders in most of the countries where the Company operates during the three months ended June 30, 2020. Although the majority of these orders went into effect in late February 2020 or early March 2020, new orders are being implemented, or reinstated, as the pandemic spreads around the global and new hot spots flare up. The EFT Segment has experienced declines in transaction volumes due to these restrictions, especially high-margin cross-border transactions. The epay Segment experienced the impacts of consumer movement restrictions in certain markets, while other markets were positively impacted where the Company has a higher mix of digital distribution or a higher concentration of retailers that were deemed essential and remained open during the pandemic. Our Money Transfer Segment has experienced declines in transaction volumes due to the restrictions noted above, which have also led to the temporary closure of many of the locations where our products and services are offered. In response to the COVID-19 driven impacts, the Company has implemented several key measures to offset the impact across the business, including renegotiating certain third party contracts, reducing travel, decreasing planned 2020 capital expenditures, and expanding ATM winterizations (placing them in dormancy status, terminating, or re-negotiating) in more sites and more markets.

Leases (Details) - USD ($)	3 Months Ended		6 Months Ended
Leases (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Operating Lease, Payments, Use	$ 211,900		$ 53,869,000	$ 62,935,000
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability			$ 52,764,000	157,914,000
Operating Lease, Weighted Average Remaining Lease Term	4 years 9 months 18 days		4 years 9 months 18 days
Weighted- average discount rate	2.10%		2.10%
Lessee, operating lease, liability, payments due remainder of fiscal year	$ 26,198,000		$ 26,198,000
Lessee, operating lease, liability, payments due year two	42,182,000		42,182,000
Lessee, operating lease, liability, payments due year three	29,304,000		29,304,000
Lessee, operating lease, liability, payments due year four	20,294,000		20,294,000
Lessee, Operating Lease, Liability, to be Paid, Year Five	13,105,000		13,105,000
Lessee, operating lease, liability, payments due after year five	26,319,000		26,319,000
Lessee, operating lease, liability, payments due	157,402,000		157,402,000
Capital Leases, Future Minimum Payments, Interest Included in Payments	(3,754,000)		(3,754,000)
Operating Lease, Liability	153,648,000		153,648,000
Right Of Use Assets Held			211,900,000
Operating Leases, Rent Expense, Net	21,045,000	$ 33,113,000	54,233,000	63,573,000
Variable Lease, Cost	12,281,000	12,320,000	20,961,000	18,889,000
Operating Lease, Expense	$ 33,326,000	$ 45,433,000	$ 75,194,000	$ 82,462,000

Debt Obligations

6 Months Ended

Jun. 30, 2020

Debt Obligations [Abstract]

DEBT OBLIGATIONS

(8) DEBT OBLIGATIONS

Debt obligations consist of the following:


	As of
(in thousands)	June 30, 2020		December 31, 2019
Credit Facility:
Revolving credit agreement	$	—	$	—
Convertible Debt:
0.75% convertible notes, unsecured, due 2049	444,506		436,965

1.375% Senior Notes, due 2026	673,920		673,440

Other obligations	921		6,215

Total debt obligations	1,119,347		1,116,620
Unamortized debt issuance costs	(17,853)		(19,592		)
Carrying value of debt	1,101,494		1,097,028
Short-term debt obligations and current maturities of long-term debt obligations	(875)		(6,089		)
Long-term debt obligations	$	1,100,619	$	1,090,939

Credit Facility

On October 17, 2018, the Company entered into an unsecured revolving credit agreement (the "Credit Facility") for $1.0 billion that expires on October 17, 2023. Fees and interest on borrowings are based upon the Company's corporate credit rating and are based, in the case of letter of credit fees, on a margin, and in the case of interest, on a margin over London Inter-Bank Offered Rate (“LIBOR”) or a margin over the base rate, as selected by the Company, with the applicable margin ranging from 1.125% to 2.0% (or 0.175% to 1.0% for base rate loans). The unsecured revolving credit agreement allows for borrowings in Australian dollars, British pounds sterling, Canadian dollars, Czech koruna, Danish krone, euro, Hungarian forints, Japanese yen, New Zealand dollars, Norwegian krone, Polish zlotys, Swedish krona, Swiss francs, and U.S. dollars. The revolving credit facility contains a $200 million sublimit for the issuance of letters of credit, a $50 million sublimit for U.S. dollar swingline loans, and a $90 million sublimit for certain foreign currencies swingline loans. The unsecured revolving credit agreement contains customary affirmative and negative covenants, events of default and financial covenants. The Company was in compliance with all debt covenants, as of June 30, 2020.

Convertible Debt

On March 18, 2019, the Company completed the sale of $525.0 million of Convertible Senior Notes ("Convertible Notes"). The Convertible Notes mature in March 2049 unless redeemed or converted prior to such date, and are convertible into shares of Euronet Common Stock at a conversion price of approximately $188.73 per share if certain conditions are met (relating to the closing price of Euronet Common Stock exceeding certain thresholds for specified periods). Holders of the Convertible Notes have the option to require the Company to purchase their notes on each of March 15, 2025, March 15, 2029, March 15, 2034, March 15, 2039 and March 15, 2044 at a repurchase price equal to 100% of the principal amount of the Convertible Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the relevant repurchase date.

On May 28, 2019, the Company redeemed all of the remaining principal amount outstanding of the Company's 1.5% Convertible Senior Notes due 2044 (the "Retired Convertible Notes") for cash at a redemption price equal to 100% of the principal amount of the Retired Convertible Notes redeemed plus accrued and unpaid interest, if any, to, but excluding, May 28, 2020.

In accordance with ASC 470-20-30-27, proceeds from the issuance of convertible debt is allocated between debt and equity components so that debt is discounted to reflect the Company's nonconvertible debt borrowing rate. ASC 470-20-35-13 requires the debt discount to be amortized over the period the convertible debt is expected to be outstanding as additional non-cash interest expense. The allocation resulted in an increase to additional paid-in capital of $99.7 million for the Convertible Notes.

Contractual interest expense for the Convertible Notes was $1.0 million and $2.0 million for the three and six months ended June 30, 2020, respectively and $1.0 million and $1.1 million for the three and six months ended June 30, 2019, respectively. Accretion expense for the Convertible Notes was $3.8 million and $7.5 million for the three and six months ended June 30, 2020, respectively and $3.6 million and $4.2 million for the three and six months ended June 30, 2019, respectively. Contractual interest expense for the Retired Convertible Notes was $1.5 million for both the three and six months ended June 30, 2019. Accretion expense for the Retired Convertible Notes was $1.8 million and $4.6 million for the three and six months ended June 30, 2019, respectively. The effective interest rate was 4.4% for the three and six months ended June 30, 2020. As of June 30, 2020, the unamortized discount was $80.5 million and will be amortized through March 2025.

1.375% Senior Notes due 2026

On May 22, 2019, the Company completed the sale of €600 million ($669.9 million) aggregate principal amount of Senior Notes that expire in May 2026 (the “Senior Notes”). The Senior Notes accrue interest at a rate of 1.375% per year, payable annually in arrears commencing May 22, 2020, until maturity or earlier redemption. As of June 30, 2020, the Company has outstanding €600 million ($673.9 million) principal amount of the Senior Notes. In addition, the Company may redeem some or all of these notes on or after February 22, 2026 at their principal amount plus any accrued and unpaid interest.

Other obligations

Certain of the Company's subsidiaries have available lines of credit and overdraft credit facilities that generally provide for short-term borrowings that are used from time to time for working capital purposes. As of June 30, 2020 and December 31, 2019, borrowings under these arrangements were $0.9 million and $6.2 million, respectively.

Uncommitted Line of Credit

On September 4, 2019, the Company entered into an Uncommitted Loan Agreement with Bank of America which provided Euronet up to $100.0 million under an uncommitted line of credit. Interest on borrowings was equal to LIBOR plus 0.65% and the agreement was set to expire September 4, 2020. During the three months ended June 30, 2020, the Company and Bank of America mutually agreed to terminate the Uncommitted Loan Agreement.

Settlement Assets and Obligations (Tables)

6 Months Ended

Jun. 30, 2020

Settlement Assets [Abstract]

Schedule of settlement assets and liabilities


	As of
(in thousands)	June 30, 2020		December 31, 2019
Settlement assets:
Settlement cash and cash equivalents	$	340,915	$	282,188
Settlement restricted cash	34,256		49,168
Accounts receivable	426,056		574,410
Prepaid expenses and other current assets	91,449		107,301
Total settlement assets	$	892,676	$	1,013,067
Settlement obligations:
Trade account payables	$	349,721	$	504,667
Accrued expenses and other current liabilities	542,955		508,400
Total settlement obligations	$	892,676	$	1,013,067

Schedule of cash and cash equivalents restricted cash


	As of
(in thousands)	June 30, 2020		December 31, 2019		June 30, 2019		December 31, 2018
Cash and cash equivalents	$	864,871	$	786,081	$	532,615	$	385,031
Restricted cash	28,050		34,301		31,687		31,237
ATM cash	410,459		665,641		806,420		395,378
Settlement cash and cash equivalents	340,915		282,188		219,426		273,948
Settlement restricted cash	34,256		49,168		39,610		45,358
Cash and cash equivalents and restricted cash at end of period	$	1,678,551	$	1,817,379	$	1,629,758	$	1,130,952

Fair Value Measurements (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019	May 22, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	$ 673,920,000	$ 673,440,000	$ 669,900,000
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	71,590,000	54,765,000
Foreign Currency Contracts, Liability, Fair Value Disclosure	(51,905,000)	(41,935,000)
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure
Foreign Currency Contracts, Liability, Fair Value Disclosure
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	71,590,000	54,765,000
Foreign Currency Contracts, Liability, Fair Value Disclosure	(51,905,000)	(41,935,000)
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure
Foreign Currency Contracts, Liability, Fair Value Disclosure
Senior Notes [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes Payable, Fair Value Disclosure	632,300
Senior Notes	673,900
Convertible Notes Payable [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible Debt, Fair Value Disclosures	647,200
Convertible Debt	$ 444,500

Recent Accounting Pronouncements (Policies)	6 Months Ended
Recent Accounting Pronouncements (Policies)	Jun. 30, 2020
Accounting Policies [Abstract]
Recently Issued and Adopted Accounting Pronouncements	In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU 2020-04, Reference Rate Reform (Topic 848), which provides optional expedients and exceptions for contracts, hedging relationships, and other transactions affected by reference rate reform due to the anticipated cessation of LIBOR on or before December 31, 2021. This guidance is effective from March 12, 2020 through December 31, 2022 and could impact the accounting for LIBOR provisions in the Company’s unsecured credit agreement. The Company does not expect that the adoption of this guidance will have a significant impact on its consolidated financial statements. The Company adopted ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), as of January 1, 2020, which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This replaced the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost. The adoption of this standard did not have a significant impact on the Company's consolidated financial statements and related disclosures.

Income Taxes (Details)	3 Months Ended		6 Months Ended
Income Taxes (Details)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Effective Income Tax Rate	(8.40%)	31.50%	(11.10%)	31.60%
Federal Statutory Income Tax Rate			21.00%	21.00%

Segment Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

SEGMENT INFORMATION

(11) SEGMENT INFORMATION

Euronet’s reportable operating segments have been determined in accordance with ASC Topic 280, Segment Reporting (“ASC 280”). The Company currently operates in the following three reportable operating segments:

Through the EFT Processing Segment, the Company processes transactions for a network of ATMs and POS terminals across Europe, the Middle East, Asia Pacific and the United States. The Company provides comprehensive electronic payment solutions consisting of ATM cash withdrawal services, ATM network participation, outsourced ATM and POS management solutions, credit and debit card outsourcing, dynamic currency conversion, domestic and international surcharges and other value added services. Through this segment, the Company also offers a suite of integrated electronic financial transaction software solutions for electronic payment and transaction delivery systems.


2)	Through the epay Segment, the Company provides distribution, processing and collection services for prepaid mobile airtime and other electronic payment products in Europe, the Middle East, Asia Pacific, the U.S. and South America.

Through the Money Transfer Segment, the Company provides global money transfer services under the brand names Ria, AFEX Money Express, IME, and xe. Ria, AFEX Money Express and IME provide global consumer-to-consumer money transfer services through a network of sending agents, Company-owned stores and Company-owned websites, disbursing money transfers through a worldwide correspondent network. xe offers account-to-account international payment services to high-income individuals and small-to-medium sized businesses. xe is also a provider of foreign currency exchange information. The Company also offers customers bill payment services, payment alternatives such as money orders and prepaid debit cards, comprehensive check cashing services, foreign currency exchange services and mobile top-up. Furthermore, xe provides cash management solutions and foreign currency risk management services to small-to-medium sized businesses.

In addition, the Company accounts for non-operating activity, share-based compensation expense, certain intersegment eliminations and the costs of providing corporate and other administrative services in its administrative division, “Corporate Services, Eliminations and Other.” These services are not directly identifiable with the Company’s reportable operating segments.

The following tables present the Company’s reportable segment results for the three and six months ended June 30, 2020 and 2019:

	For the Three Months Ended June 30, 2020
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other		Consolidated
Total revenues	$	78,488	$	187,563	$	262,863	$	(1,111)	$	527,803
Operating expenses:
Direct operating costs	62,465		144,056		144,589		(1,099)		350,011
Salaries and benefits	21,289		15,191		49,059		5,413		90,952
Selling, general and administrative	9,515		8,635		33,172		1,993		53,315
Goodwill impairment	21,861		—		82,693		—		104,554
Depreciation and amortization	19,934		1,651		8,577		80		30,242
Total operating expenses	135,064		169,533		318,090		6,387		629,074
Operating income (expense)	$	(56,576)	$	18,030	$	(55,227)	$	(7,498)	$	(101,271)

	For the Three Months Ended June 30, 2019
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	231,946	$	184,160	$	276,783	$	(1,022	)	$	691,867
Operating expenses:
Direct operating costs	105,568		140,427		148,834		(1,018		)	393,811
Salaries and benefits	21,339		14,998		52,713		9,500			98,550
Selling, general and administrative	10,745		9,424		31,731		1,942			53,842
Depreciation and amortization	17,778		1,756		8,159		74			27,767
Total operating expenses	155,430		166,605		241,437		10,498			573,970
Operating income (expense)	$	76,516	$	17,555	$	35,346	$	(11,520	)	$	117,897

	For the Six Months Ended June 30, 2020
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other		Consolidated
Total revenues	$	224,313	$	360,474	$	529,097	$	(2,174)	$	1,111,710
Operating expenses:
Direct operating costs	150,001		274,130		287,498		(2,162)		709,467
Salaries and benefits	43,380		30,888		102,923		15,001		192,192
Selling, general and administrative	20,456		17,473		71,754		4,425		114,108
Goodwill impairment	21,861		—		82,693		—		104,554
Depreciation and amortization	40,256		3,495		17,148		159		61,058
Total operating expenses	275,954		325,986		562,016		17,423		1,181,379
Operating income (expense)	$	(51,641)	$	34,488	$	(32,919)	$	(19,597)	$	(69,669)


	For the Six Months Ended June 30, 2019
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	377,649	$	360,274	$	533,364	$	(1,911	)	$	1,269,376
Operating expenses:
Direct operating costs	189,344		273,952		286,238		(1,890		)	747,644
Salaries and benefits	40,770		29,751		103,869		16,955			191,345
Selling, general and administrative	19,831		17,476		60,840		3,842			101,989
Depreciation and amortization	34,420		3,541		16,297		149			54,407
Total operating expenses	284,365		324,720		467,244		19,056			1,095,385
Operating income (expense)	$	93,284	$	35,554	$	66,120	$	(20,967	)	$	173,991

The following table presents the Company’s total assets by reportable segment:


	Total Assets as of
(in thousands)	June 30, 2020		December 31, 2019
EFT Processing	$	1,394,600	$	1,914,144
epay	801,003		962,671
Money Transfer	1,517,809		1,560,136
Corporate Services, Eliminations and Other	248,123		220,715
Total	$	3,961,535	$	4,657,666

The following table presents the Company's revenues disaggregated by segment and region. Sales and usage-based taxes are excluded from revenues. The Company believes disaggregation by segment and region best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The disaggregation of revenues by segment and region is based on management's assessment of segment performance together with allocation of financial resources, both capital and operating support costs, on a segment and regional level. Both segments and regions benefit from synergies achieved through concentration of operations and are influenced by macro-economic, regulatory and political factors in the respective segment and region.


	For the Three Months Ended June 30, 2020								For the Six Months Ended June 30, 2020
(in thousands)	EFT Processing		epay		Money Transfer		Total			EFT Processing		epay		Money Transfer		Total
Europe	$	44,927	$	122,675	$	98,730	$	266,332	$	144,401	$	237,952	$	189,788	$	572,141
North America	13,123		36,106		132,891		182,120			28,142		69,958		270,786		368,886
Asia Pacific	20,438		22,782		26,232		69,452			51,766		42,056		57,080		150,902
Other	—		6,000		5,010		11,010			4		10,508		11,443		21,955
Eliminations	—		—		—		(1,111)			—		—		—		(2,174)
Total	$	78,488	$	187,563	$	262,863	$	527,803	$	224,313	$	360,474	$	529,097	$	1,111,710

	For the Three Months Ended June 30, 2019									For the Six Months Ended June 30, 2019
(in thousands)	EFT Processing		epay		Money Transfer		Total				EFT Processing		epay		Money Transfer		Total
Europe	$	192,696	$	123,322	$	93,576	$	409,594		$	300,307	$	238,228	$	179,135	$	717,670
North America	7,958		37,732		145,528		191,218				16,163		77,396		280,360		373,919
Asia Pacific	31,287		18,920		31,577		81,784				61,164		36,294		62,290		159,748
Other	5		4,186		6,102		10,293				15		8,356		11,579		19,950
Eliminations	—		—		—		(1,022		)		—		—		—		(1,911	)
Total	$	231,946	$	184,160	$	276,783	$	691,867		$	377,649	$	360,274	$	533,364	$	1,269,376

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Commitments (Details) $ in Millions	Jun. 30, 2020 USD ($)
Other Commitments [Line Items]
Letters of Credit Outstanding, Amount	$ 74.6
Pledged Assets, Not Separately Reported, Other	4.0
Credit Facility [Domain]
Other Commitments [Line Items]
Letters of Credit Outstanding, Amount	52.1
Guarantee Type, Other [Member]
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	11.8
Performance Guarantee [Member]
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	39.3
Indemnification Agreement [Member]
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 512.0

Accrued Expenses and Other Current Liabilities

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

(6) ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consist of the following:


	As of
(in thousands)	June 30, 2020		December 31, 2019
Accrued expenses	$	247,955	$	246,699
Derivative liabilities	51,905		41,935
Current portion of capital lease obligations	6,511		5,919
Deferred income taxes	—		4
Total	$	306,371	$	294,557

Litigation and Contingencies	6 Months Ended
Litigation and Contingencies	Jun. 30, 2020
Loss Contingency, Information about Litigation Matters [Abstract]
LITIGATION AND CONTINGENCIES	(14) LITIGATION AND CONTINGENCIES From time to time, the Company is a party to legal or regulatory proceedings arising in the ordinary course of its business. Currently, there are no legal proceedings or regulatory findings that management believes, either individually or in the aggregate, would have a material adverse effect on the Company's consolidated financial condition or results of operations. In accordance with U.S. GAAP, the Company records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least quarterly and adjusted to reflect the impacts of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case.

Unearned Revenues	6 Months Ended
Unearned Revenues	Jun. 30, 2020
Deferred Revenue Disclosure [Abstract]
UNEARNED REVENUES	(7) UNEARNED REVENUES The Company records deferred revenues when cash payments are received or due in advance of its performance. The decrease in the deferred revenue balance for the six months ended June 30, 2020 is primarily driven by $26.2 million of cash payments received in the current year for which the Company has not yet satisfied the performance obligations, offset by $26.3 million of revenues recognized that were included in the deferred revenue balance as of December 31, 2019.

Debt Obligations (Narrative) (Details) - USD ($)			3 Months Ended		6 Months Ended
Debt Obligations (Narrative) (Details) - USD ($)	May 28, 2019	Mar. 19, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Sep. 04, 2019	May 22, 2019	Mar. 18, 2019	Oct. 17, 2018
Debt Instrument [Line Items]
Senior Notes			$ 673,920,000		$ 673,920,000		$ 673,440,000		$ 669,900,000
Revolving Credit Facility
Debt Instrument, Convertible, Conversion Price										$ 188.73
Debt Instrument, Convertible, Carrying Amount of Equity Component										$ 99,700,000
Interest Expense, Debt				$ 1,500,000
Debt Instrument, Interest Rate During Period	100.00%	100.00%
Other Borrowings			921,000		921,000		6,215,000
Total debt obligations			1,119,347,000		1,119,347,000		1,116,620,000
Unamortized Debt Issuance Expense			(17,853,000)		(17,853,000)		(19,592,000)
Short-term debt obligations and current maturities of long-term debt obligations			(875,000)		(875,000)		(6,089,000)
Long-term debt obligations			1,100,619,000		$ 1,100,619,000		1,090,939,000
Line of Credit Facility, Expiration Date					Oct. 17, 2023
Line of Credit, Current			900,000		$ 900,000		6,200,000
Carrying value of debt			1,101,494,000		$ 1,101,494,000		1,097,028,000
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate					0.65%
Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			200,000,000		$ 200,000,000
Due 2049 [Member]
Debt Instrument [Line Items]
Convertible Debt			444,506,000		444,506,000		$ 436,965,000
Debt Instrument, Face Amount										$ 525,000,000.0
Interest Expense, Debt			1,000,000.0	1,000,000.0	2,000,000.0	$ 1,100
Amortization of Debt Discount (Premium)			$ 3,800,000	3,600,000	$ 7,500,000	4,200,000
Debt Instrument, Interest Rate During Period			4.40%		4.40%
Debt Instrument, Unamortized Discount			$ 80,500,000		$ 80,500,000
Due 2044 [Member]
Debt Instrument [Line Items]
Amortization of Debt Discount (Premium)				$ 1,800,000		$ 4,600,000
Debt Instrument, Interest Rate During Period	1.50%
Senior Notes, 1.375 Percent due 2026 [Member]
Debt Instrument [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate			1.375%		1.375%
Minimum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate					1.125%
Minimum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate					0.175%
Maximum [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate					2.00%
Maximum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate					1.00%
Swingline loans [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 50,000,000		$ 50,000,000
Foreign Swingline Loans [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			90,000,000		90,000,000
Unsecured Debt [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity								$ 100,000,000.0			$ 1,000,000,000.0
Euro Member Countries, Euro
Debt Instrument [Line Items]
Senior Notes			$ 600,000,000		$ 600,000,000				$ 600,000,000

Stockholders' Equity (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
Stockholders' Equity (Narrative) (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Feb. 26, 2020	Mar. 18, 2019	Mar. 11, 2019	Feb. 27, 2018
Equity, Class of Treasury Stock [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,533,000	782,000	1,608,000	805,000
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities			0
Debt Instrument, Convertible, Conversion Price							$ 188.73
Share Price	$ 95.82	$ 168.24	$ 95.82	$ 168.24
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	$ 32,200,000	$ 12,200,000	$ 27,600,000	$ (4,000,000.0)
Stock Repurchase Program, Authorized Amount	239,800		239,800
Share Repurchase Plan [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased						5,000,000.0			10,000,000.0
Stock Repurchase Program, Authorized Amount	$ 250,000		$ 250,000		$ 375,000			$ 120,000

Derivative Instruments and Hedging Activities (Details 1) - Foreign Exchange Contracts [Member] - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Foreign Currency Derivative Instruments, Asset at Fair Value	$ 71,590	$ 54,765
Accrued expenses and other current liabilities [Member]
Derivatives, Fair Value [Line Items]
Foreign Currency Derivative Instruments, Liability at Fair Value	$ (51,905)	$ (41,935)

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2020	Aug. 07, 2020
Entity Information [Line Items]
Entity File Number	001-31648
Entity Small Business	false
City Area Code	(913)
Local Phone Number	327-4200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Entity Registrant Name	EURONET WORLDWIDE, INC.
Entity Central Index Key	0001029199
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		52,289,019
Entity Tax Identification Number	74-2806888
Entity Address, City or Town	Leawood,
Entity Address, Address Line One	11400 Tomahawk Creek Parkway,
Entity Address, Address Line Two	Suite 300
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	66211
Entity Emerging Growth Company	false
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	EEFT
Security Exchange Name	NASDAQ
1.375 Senior Notes due 2026 [Member]
Entity Information [Line Items]
Title of 12(b) Security	1.375% Senior Notes due 2026
Trading Symbol	EEFT26
Security Exchange Name	NASDAQ

Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of reportable segment results

The following tables present the Company’s reportable segment results for the three and six months ended June 30, 2020 and 2019:

	For the Three Months Ended June 30, 2020
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other		Consolidated
Total revenues	$	78,488	$	187,563	$	262,863	$	(1,111)	$	527,803
Operating expenses:
Direct operating costs	62,465		144,056		144,589		(1,099)		350,011
Salaries and benefits	21,289		15,191		49,059		5,413		90,952
Selling, general and administrative	9,515		8,635		33,172		1,993		53,315
Goodwill impairment	21,861		—		82,693		—		104,554
Depreciation and amortization	19,934		1,651		8,577		80		30,242
Total operating expenses	135,064		169,533		318,090		6,387		629,074
Operating income (expense)	$	(56,576)	$	18,030	$	(55,227)	$	(7,498)	$	(101,271)

	For the Three Months Ended June 30, 2019
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	231,946	$	184,160	$	276,783	$	(1,022	)	$	691,867
Operating expenses:
Direct operating costs	105,568		140,427		148,834		(1,018		)	393,811
Salaries and benefits	21,339		14,998		52,713		9,500			98,550
Selling, general and administrative	10,745		9,424		31,731		1,942			53,842
Depreciation and amortization	17,778		1,756		8,159		74			27,767
Total operating expenses	155,430		166,605		241,437		10,498			573,970
Operating income (expense)	$	76,516	$	17,555	$	35,346	$	(11,520	)	$	117,897

	For the Six Months Ended June 30, 2020
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other		Consolidated
Total revenues	$	224,313	$	360,474	$	529,097	$	(2,174)	$	1,111,710
Operating expenses:
Direct operating costs	150,001		274,130		287,498		(2,162)		709,467
Salaries and benefits	43,380		30,888		102,923		15,001		192,192
Selling, general and administrative	20,456		17,473		71,754		4,425		114,108
Goodwill impairment	21,861		—		82,693		—		104,554
Depreciation and amortization	40,256		3,495		17,148		159		61,058
Total operating expenses	275,954		325,986		562,016		17,423		1,181,379
Operating income (expense)	$	(51,641)	$	34,488	$	(32,919)	$	(19,597)	$	(69,669)


	For the Six Months Ended June 30, 2019
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	377,649	$	360,274	$	533,364	$	(1,911	)	$	1,269,376
Operating expenses:
Direct operating costs	189,344		273,952		286,238		(1,890		)	747,644
Salaries and benefits	40,770		29,751		103,869		16,955			191,345
Selling, general and administrative	19,831		17,476		60,840		3,842			101,989
Depreciation and amortization	34,420		3,541		16,297		149			54,407
Total operating expenses	284,365		324,720		467,244		19,056			1,095,385
Operating income (expense)	$	93,284	$	35,554	$	66,120	$	(20,967	)	$	173,991

The following table presents the Company’s total assets by reportable segment:


	Total Assets as of
(in thousands)	June 30, 2020		December 31, 2019
EFT Processing	$	1,394,600	$	1,914,144
epay	801,003		962,671
Money Transfer	1,517,809		1,560,136
Corporate Services, Eliminations and Other	248,123		220,715
Total	$	3,961,535	$	4,657,666

Schedule of Company's revenues disaggregated by segment and region


	For the Three Months Ended June 30, 2020								For the Six Months Ended June 30, 2020
(in thousands)	EFT Processing		epay		Money Transfer		Total			EFT Processing		epay		Money Transfer		Total
Europe	$	44,927	$	122,675	$	98,730	$	266,332	$	144,401	$	237,952	$	189,788	$	572,141
North America	13,123		36,106		132,891		182,120			28,142		69,958		270,786		368,886
Asia Pacific	20,438		22,782		26,232		69,452			51,766		42,056		57,080		150,902
Other	—		6,000		5,010		11,010			4		10,508		11,443		21,955
Eliminations	—		—		—		(1,111)			—		—		—		(2,174)
Total	$	78,488	$	187,563	$	262,863	$	527,803	$	224,313	$	360,474	$	529,097	$	1,111,710

	For the Three Months Ended June 30, 2019									For the Six Months Ended June 30, 2019
(in thousands)	EFT Processing		epay		Money Transfer		Total				EFT Processing		epay		Money Transfer		Total
Europe	$	192,696	$	123,322	$	93,576	$	409,594		$	300,307	$	238,228	$	179,135	$	717,670
North America	7,958		37,732		145,528		191,218				16,163		77,396		280,360		373,919
Asia Pacific	31,287		18,920		31,577		81,784				61,164		36,294		62,290		159,748
Other	5		4,186		6,102		10,293				15		8,356		11,579		19,950
Eliminations	—		—		—		(1,022		)		—		—		—		(1,911	)
Total	$	231,946	$	184,160	$	276,783	$	691,867		$	377,649	$	360,274	$	533,364	$	1,269,376

Commitments

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS

(13) COMMITMENTS

As of June 30, 2020, the Company had $74.6 million of stand-by letters of credit/bank guarantees issued on its behalf, of which $52.1 million are outstanding under the Credit Facility. The remaining stand-by letters of credit/bank guarantees are collateralized by $4.0 million of cash deposits held by the respective issuing banks.

Under certain circumstances, Euronet grants guarantees in support of obligations of subsidiaries. As of June 30, 2020, the Company had granted off balance sheet guarantees for cash in various ATM networks amounting to $11.8 million over the terms of the cash supply agreements and performance guarantees amounting to approximately $39.3 million over the terms of agreements with the customers.

From time to time, the Company enters into agreements with commercial counterparties that contain indemnification provisions, the terms of which may vary depending on the negotiated terms of each respective agreement. The amount of such potential obligations is generally not stated in the agreements. Euronet's liability under such indemnification provisions may be mitigated by relevant insurance coverage and may be subject to time and materiality limitations, monetary caps and other conditions and defenses. Such indemnification obligations include the following:


•	In connection with contracts with financial institutions in the EFT Processing Segment, the Company is responsible for damage to ATMs and theft of ATM network cash. As of June 30, 2020, the balance of such cash used in the Company's ATM networks for which the Company was responsible was approximately $512 million. The Company maintains insurance policies to mitigate this exposure;

•

In connection with contracts with financial institutions in the EFT Processing Segment, the Company is responsible for losses suffered by its customers and other parties as a result of the breach of its computer systems, including in particular, losses arising from fraudulent transactions made using information stolen through its processing systems. The Company maintains insurance policies to mitigate this exposure;


•	In connection with the license of proprietary systems to customers, the Company provides certain warranties and infringement indemnities to the licensee, which generally warrant that such systems do not infringe on intellectual property owned by third parties and that the systems will perform in accordance with their specifications;


•	Euronet has entered into purchase and service agreements with vendors and consulting agreements with providers of consulting services, pursuant to which the Company has agreed to indemnify certain of such vendors and consultants, respectively, against third-party claims arising from the Company’s use of the vendor’s product or the services of the vendor or consultant;

•

In connection with acquisitions and dispositions of subsidiaries, operating units and business assets, the Company has entered into agreements containing indemnification provisions, which can be generally described as follows: (i) in connection with acquisitions of operating units or assets made by Euronet, the Company has agreed to indemnify the seller against third party claims made against the seller relating to the operating unit or asset and arising after the closing of the transaction, and (ii) in connection with dispositions made by Euronet, Euronet has agreed to indemnify the buyer against damages incurred by the buyer due to the buyer’s reliance on representations and warranties relating to the subject subsidiary, operating unit or business assets in the disposition agreement if such representations or warranties were untrue when made; and


•	Euronet has entered into agreements with certain third parties, including banks that provide fiduciary and other services to Euronet or to the Company’s benefit plans. Under such agreements, the Company has agreed to indemnify such service providers for third-party claims relating to carrying out their respective duties under such agreements.

The Company is also required to meet minimum capitalization and cash requirements of various regulatory authorities in the jurisdictions in which the Company has money transfer operations. The Company has obtained surety bonds in compliance with money transfer licensing requirements of the applicable governmental authorities.

To date, the Company is not aware of any significant claims made by the indemnified parties or third parties to guarantee agreements with the Company and, accordingly, no liabilities were recorded as of June 30, 2020 or December 31, 2019.

Consolidated Balance Sheet (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 4,524	$ 3,892
Accumulated depreciation of property and equipment	428,909	410,243
Accumulated amortization of intangible assets	161,861	204,853
Accumulated amortization of other assets	$ 50,136	$ 46,788
Preferred stock, par value per share	$ 0.02	$ 0.02
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value per share	$ 0.02	$ 0.02
Common stock, shares authorized	90,000,000	90,000,000
Common stock, shares issued	62,934,954	62,775,762
Treasury stock, shares	10,646,423	8,554,908

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement of Cash Flows [Abstract]
Net (loss) income	$ (114,013)	$ 102,584
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	61,058	54,407
Share-based compensation	9,463	10,493
Unrealized foreign exchange loss (gain), net	16,311	(3,087)
Deferred income taxes	(1,427)	4,555
Goodwill impairment	104,554
Loss on early retirement of debt		9,831
Accretion of convertible debt discount and amortization of debt issuance costs	9,281	9,685
Changes in working capital, net of amounts acquired:
Income taxes payable, net	(16,433)	7,302
Trade accounts receivable	229,597	(146,441)
Prepaid expenses and other current assets	(16,999)	25,606
Trade accounts payable	(135,121)	(95,083)
Deferred revenue	26	3,457
Accrued expenses and other current liabilities	57,281	85,262
Changes in noncurrent assets and liabilities	25,021	11,857
Net cash provided by operating activities	178,557	56,714
Cash flows from investing activities:
Acquisitions, net of cash acquired	475
Purchases of property and equipment	(45,500)	(67,727)
Purchases of other long-term assets	(4,085)	(3,436)
Other, net	486	2,403
Net cash used in investing activities	(48,624)	(68,760)
Cash flows from financing activities:
Proceeds from issuance of shares	5,668	7,037
Repurchase of shares	(240,684)	(2,448)
Borrowings from revolving credit agreements	1,425,100	2,043,598
Repayments of revolving credit agreements	(1,425,100)	(2,253,498)
Proceeds from long-term debt obligations		1,194,900
Repayments of long-term debt obligations		(446,702)
Net borrowing from short-term debt obligations	(4,974)	(14,184)
Debt issuance costs		(19,673)
Other, net	(984)	(3,085)
Net cash provided by financing activities	(240,974)	505,945
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(27,787)	4,907
(Decrease) increase in cash and cash equivalents and restricted cash	(138,828)	498,806
Cash and cash equivalents and restricted cash at beginning of period	1,817,379	1,130,952
Cash and cash equivalents and restricted cash at end of period	1,678,551	1,629,758
Supplemental disclosure of cash flow information:
Interest paid during the period	13,359	7,107
Income taxes paid during the period	$ 29,695	$ 36,543

Unearned Revenue (Details) $ in Millions	6 Months Ended
Unearned Revenue (Details) $ in Millions	Jun. 30, 2020 USD ($)
Deferred Revenue Disclosure [Abstract]
Deferred Revenue, Additions	$ 26.2
Deferred Revenue, Revenue Recognized	$ 26.3

Stocholders' Equity (Tables)

6 Months Ended

Jun. 30, 2020

Stockholders' Equity Note [Abstract]

Schedule of computation of diluted weighted average number of common shares outstanding


	Three Months Ended June 30,		Six Months Ended June 30,
	2020	2019	2020	2019
Computation of diluted weighted average shares outstanding:
Basic weighted average shares outstanding	52,234,465	53,212,759	52,920,784	52,546,647
Incremental shares from assumed exercise of stock options and vesting of restricted stock	—	1,489,700	—	1,399,123
Diluted weighted average shares outstanding	52,234,465	54,702,459	52,920,784	53,945,770

Settlement Assets and Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Settlement Assets [Abstract]
Settlement cash and cash equivalents	$ 340,915	$ 282,188	$ 219,426	$ 273,948
Settlement restricted cash	34,256	49,168	39,610	45,358
Accounts receivable	426,056	574,410
Prepaid expenses and other current assets	91,449	107,301
Total settlement assets	892,676	1,013,067
Settlement obligations:
Trade account payables	349,721	504,667
Accrued expenses and other current liabilities	542,955	508,400
Allowance for Doubtful Other Receivables, Current	29,000	24,000
Total settlement obligations	892,676	1,013,067
Cash and cash equivalents	864,871	786,081	532,615	385,031
Restricted cash	28,050	34,301	31,687	31,237
ATM cash	410,459	665,641	806,420	395,378
Settlement cash and cash equivalents	340,915	282,188	219,426	273,948
Settlement restricted cash	34,256	49,168	39,610	45,358
Cash and cash equivalents and restricted cash at end of period	$ 1,678,551	$ 1,817,379	$ 1,629,758	$ 1,130,952

Fair Value Measurements

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

(10) FAIR VALUE MEASUREMENTS

Fair value measurements used in the unaudited consolidated financial statements are based upon the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:


•	Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities.


•	Level 2 – Valuations based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.


•	Level 3 – Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the inputs that market participants would use in pricing.

The following table details financial assets and liabilities measured and recorded at fair value on a recurring basis:


		As of June 30, 2020
(in thousands)	Balance Sheet Classification	Level 1		Level 2		Level 3		Total
Assets
Foreign currency exchange contracts	Other current assets	$	—	$	71,590	$	—	$	71,590
Liabilities
Foreign currency exchange contracts	Other current liabilities	$	—	$	(51,905)	$	—	$	(51,905)


		As of December 31, 2019
(in thousands)	Balance Sheet Classification	Level 1		Level 2			Level 3		Total
Assets
Foreign currency exchange contracts	Other current assets	$	—	$	54,765		$	—	$	54,765
Liabilities
Foreign currency exchange contracts	Other current liabilities	$	—	$	(41,935	)	$	—	$	(41,935	)

Other Fair Value Disclosures

The carrying amounts of cash and cash equivalents, trade accounts receivable, trade accounts payable and short-term debt obligations approximate fair values due to their short maturities. The carrying values of the Company’s revolving credit agreements approximate fair values because interest is based on LIBOR that resets at various intervals of less than one year. The Company estimates the fair value of the Convertible Notes using quoted prices in inactive markets for identical liabilities (Level 2). As of June 30, 2020, the fair values of the Convertible Notes and Senior Notes were $647.2 million and $632.3 million, respectively, with carrying values of $444.5 million and $673.9 million, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Goodwill and Acquired Intangible Assets, Net (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of acquired intangible assets and goodwill activity

A summary of acquired intangible assets and goodwill activity for the six months ended June 30, 2020 is presented below:


(in thousands)	Acquired Intangible Assets		Goodwill		Total Intangible Assets
Balance as of December 31, 2019	$	141,847	$	743,823	$	885,670
Decreases:
Acquisition	—		(474)		(474)
Amortization	(11,236)		—		(11,236)
Impairment	—		(104,554)		(104,554)
Other (primarily changes in foreign currency exchange rates)	(3,503)		(14,542)		(18,045)
Balance as of June 30, 2020	$	127,108	$	624,253	$	751,361

Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

LEASES

(15) LEASES

The Company enters into operating leases for ATM sites, office spaces, retail stores and equipment. The Company's finance leases are immaterial. Right of use assets and lease liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease terms.

The present value of lease payments is determined using the incremental borrowing rate based on information available at the lease commencement date. The Company recognizes lease expense for these leases on a straight-line basis over the lease term.

Most leases include an option to renew, with renewal terms that can extend the lease terms. The exercise of lease renewal options is at the Company’s sole discretion. The depreciable life of assets and leasehold improvements are limited by the expected lease terms. The Company also has a unilateral termination right for most of the ATM site leases. The Company evaluated the likelihood of exercising the renewal and termination options beginning with the adoption of the new accounting lease standard on January 1, 2019, concluding 1) the options were not reasonably certain to be exercised and thus were not considered in determining the lease terms, and associated payment impacts were excluded from lease payments and 2) termination options were reasonably certain not to be exercised and therefore the stated lease payment schedule of the lease was used to determine the lease term.

During the second quarter of 2020, the impact of the COVID-19 pandemic was a significant event that caused a significant change in circumstances and business plans to manage our portfolio of ATM leases. Specifically we downsized, through the exercise of termination clauses and the reduction of monthly costs by renegotiating payment terms of our ATM leases. The Company's execution of the business plan to renegotiate terms and downsize the portfolio of ATM leases constituted a reassessment event during the second quarter of 2020. The reassessment event required the Company to reevaluate the accounting for the portfolio of ATM leases, including lease terms. Due to the recent increased frequency of ATM site lease terminations, modifications, and greater unpredictability whether or not future lease terminations will be exercised, the Company is no longer able to conclude that termination options are reasonably certain not to be exercised. This reassessment conclusion impacts the lease term evaluation, instead of determining the lease term based on the stated lease payment schedule of the lease, now the lease term will be evaluated when the Company has the contractual ability to terminate the lease (most leases allow for a termination upon advance notice of between 30 and 90 days of notice). As a result of the lease term reassessment, $211.9 million of right of use assets and $211.9 million lease liabilities were reassessed to have a term shorter than 12 months, thus were subject to the short-term lease exemption and removed from the balance sheet as of June 30, 2020. Future payments for ATM site leases with termination options, exercisable less than 12 months, are excluded from the right of use asset and lease liability balances.

Payments for ATM site leases with termination options subject to the short-term lease exemption are expensed in the period incurred. The short-term lease expense for the three months ended June 30, 2020 reasonably reflects the Company’s short-term lease commitments. Certain of the Company's lease agreements include variable rental payments based on revenues generated from the use of the leased location and certain leases include rental payments adjusted periodically for inflation. Variable lease payments are recognized when the event, activity or circumstance in the lease agreement on which those payments are assessed occurs and are excluded from the right of use assets and lease liabilities balances. The lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Future minimum lease payments

Future minimum lease payments under non-cancelable operating leases (with initial lease terms in excess of one year) as of June 30, 2020 are:


	As of June 30, 2020
Maturity of Lease Liabilities (in thousands)	Operating Leases (1)
Remainder of 2020	$	26,198
2021	42,182
2022	29,304
2023	20,294
2024	13,105
Thereafter	26,319
Total lease payments	$	157,402
Less: imputed interest	(3,754)
Present value of lease liabilities	$	153,648

(1) Operating lease payments reflect the Company's current fixed obligations under the operating lease agreements. Certain ATM site leases contain termination options that grant the Company the option to terminate the lease prior to the stated term of the agreement. The Company includes the future minimum lease payments for these ATM site leases only to the extent that the termination option is not reasonably certain to be exercised.

Lease expense recognized in the Consolidated Statements of Income is summarized as follows:


Lease Expense (in thousands)	Income Statement Classification	Three Months Ended June 30, 2020		Three Months Ended June 30, 2019		Six Months Ended June 30, 2020			Six Months Ended June 30, 2019
Operating lease expense	Selling, general and administrative and Direct operating costs	$	21,045	$	33,113	$	54,233	$	63,573
Short-term and variable lease expense	Selling, general and administrative and Direct operating costs		12,281		12,320	20,961			18,889
Total lease expense		$	33,326	$	45,433	$	75,194	$	82,462

Other information about lease amounts recognized in the consolidated financial statements is summarized as follows:


Lease Term and Discount Rate of Operating Leases	As of June 30, 2020
Weighted- average remaining lease term (years)	4.8
Weighted- average discount rate	2.1	%

The following table presents supplemental cash flow and non-cash information related to leases.


Other Information (in thousands)	Six Months Ended June 30, 2020		Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities (a)	$	53,869	$	62,935
Supplemental non-cash information on lease liabilities arising from obtaining ROU assets
ROU assets obtained in exchange for new operating lease liabilities	$	52,764	$	157,914

(a) Included in Net cash provided by operating activities on the Company's Consolidated Statements of Cash Flows.

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenues	$ 527,803	$ 691,867	$ 1,111,710	$ 1,269,376
Operating expenses:
Direct operating costs	350,011	393,811	709,467	747,644
Salaries and benefits	90,952	98,550	192,192	191,345
Selling, general and administrative	53,315	53,842	114,108	101,989
Goodwill impairment	104,554		104,554
Depreciation and amortization	30,242	27,767	61,058	54,407
Total operating expenses	629,074	573,970	1,181,379	1,095,385
Operating (loss) income	(101,271)	117,897	(69,669)	173,991
Other income (expense):
Interest income	161	513	728	856
Interest expense	(8,884)	(10,029)	(18,117)	(18,228)
Loss on early retirement of debt		(8,903)		(9,831)
Foreign currency exchange gain (loss), net	2,495	(121)	(16,311)	3,087
Other gain (loss)	697	(29)	728	(4)
Other expense, net	(5,531)	(18,569)	(32,972)	(24,120)
(Loss) income before income taxes	(106,802)	99,328	(102,641)	149,871
Income tax expense	(8,931)	(31,323)	(11,372)	(47,287)
Net (loss) income	(115,733)	68,005	(114,013)	102,584
Net loss (income) attributable to noncontrolling interests	(71)	148	130	112
Net (loss) income attributable to Euronet Worldwide, Inc.	$ (115,804)	$ 68,153	$ (113,883)	$ 102,696
(Loss) earnings per share attributable to Euronet Worldwide, Inc. stockholders:
Basic	$ (2.22)	$ 1.28	$ (2.15)	$ 1.95
Diluted	$ (2.22)	$ 1.25	$ (2.15)	$ 1.90
Computation of diluted weighted average shares outstanding:
Basic	52,234,465	53,212,759	52,920,784	52,546,647
Diluted	52,234,465	54,702,459	52,920,784	53,945,770

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	(12) INCOME TAXES The Company's effective income tax rate was (8.4)% and (11.1)% for the three and six months ended June 30, 2020, respectively, compared to 31.5% and 31.6% for the three and six months ended June 30, 2019, respectively. The Company's effective income tax rate for the three and six months ended June 30, 2020 was different than the applicable statutory income tax rate of 21% primarily due to the non-deductible goodwill impairment charge during the second quarter of 2020 and as a result of an increase in the valuation allowance in certain jurisdictions relating to the reversal of tax benefits recognized in the first quarter of 2020 for net operating losses in those jurisdictions which have a limited history of profitable earnings. The Company's effective income tax rate for the three and six months ended June 30, 2019 was higher than the applicable statutory income tax rate of 21% largely because of the application to the Company of the global intangible low-taxed income ("GILTI") tax provision and certain foreign earnings of the Company being subject to higher local statutory income tax rates.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Debt Obligations (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of Debt obligations


	As of
(in thousands)	June 30, 2020		December 31, 2019
Credit Facility:
Revolving credit agreement	$	—	$	—
Convertible Debt:
0.75% convertible notes, unsecured, due 2049	444,506		436,965

1.375% Senior Notes, due 2026	673,920		673,440

Other obligations	921		6,215

Total debt obligations	1,119,347		1,116,620
Unamortized debt issuance costs	(17,853)		(19,592		)
Carrying value of debt	1,101,494		1,097,028
Short-term debt obligations and current maturities of long-term debt obligations	(875)		(6,089		)
Long-term debt obligations	$	1,100,619	$	1,090,939

Recently Issued and Adopted Accounting Pronouncements	6 Months Ended
Recently Issued and Adopted Accounting Pronouncements	Jun. 30, 2020
Accounting Policies [Abstract]
RECENTLY ISSUED AND ADOPTED ACCOUNTING PRONOUNCEMENTS	(2) RECENTLY ISSUED AND ADOPTED ACCOUNTING PRONOUNCEMENTS In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU 2020-04, Reference Rate Reform (Topic 848), which provides optional expedients and exceptions for contracts, hedging relationships, and other transactions affected by reference rate reform due to the anticipated cessation of LIBOR on or before December 31, 2021. This guidance is effective from March 12, 2020 through December 31, 2022 and could impact the accounting for LIBOR provisions in the Company’s unsecured credit agreement. The Company does not expect that the adoption of this guidance will have a significant impact on its consolidated financial statements. The Company adopted ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), as of January 1, 2020, which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This replaced the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost. The adoption of this standard did not have a significant impact on the Company's consolidated financial statements and related disclosures.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

Stockholders' Equity

6 Months Ended

Jun. 30, 2020

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

(4) STOCKHOLDERS' EQUITY

Earnings (Loss) Per Share

Basic earnings (loss) per share has been computed by dividing earnings (loss) available to common stockholders by the weighted average number of common shares outstanding during the respective period. Diluted earnings (loss) per share has been computed by dividing earnings (loss) available to common stockholders by the weighted average shares outstanding during the respective period, after adjusting for the potential dilution of options to purchase the Company's Common Stock, assumed vesting of restricted stock and the assumed conversion of the Company's convertible debt.

The following table provides the computation of diluted weighted average number of common shares outstanding:


	Three Months Ended June 30,		Six Months Ended June 30,
	2020	2019	2020	2019
Computation of diluted weighted average shares outstanding:
Basic weighted average shares outstanding	52,234,465	53,212,759	52,920,784	52,546,647
Incremental shares from assumed exercise of stock options and vesting of restricted stock	—	1,489,700	—	1,399,123
Diluted weighted average shares outstanding	52,234,465	54,702,459	52,920,784	53,945,770

The table includes all stock options and restricted stock that are dilutive to the Company's weighted average common shares outstanding during the period. The calculation of diluted earnings (loss) per share excludes stock options or shares of restricted stock that are anti-dilutive to the Company’s weighted average common shares outstanding of approximately 2,533,000 and 1,608,000 for the three and six months ended June 30, 2020, respectively, and approximately 782,000 and 805,000 for the three and six months ended June 30, 2019, respectively.

The Company issued Convertible Senior Notes ("Convertible Notes") due March 2049 on March 18, 2019. The Company's Convertible Notes currently have a settlement feature requiring the Company upon conversion to settle the principal amount of the debt and any conversion value in excess of the principal value ("conversion premium"), for cash or shares of the Company's common stock or a combination thereof, at the Company's option. The Company has stated its intent to settle any conversion of these notes by paying cash for the principal value and issuing common stock for any conversion premium. Accordingly, the Convertible Notes were included in the calculation of diluted earnings (loss) per share if their inclusion was dilutive. The dilutive effect increases the more the market price exceeds the conversion price. The Convertible Notes would only have a dilutive effect if the market price per share of common stock exceeds the conversion price of $188.73 per share. The market price per share per share of common stock was $95.82 on June 30, 2020 and $168.24 on June 30, 2019, therefore, according to ASC Topic 260, Earnings per Share (“ASC 260”), there was no dilutive effect of the assumed conversion of the debentures for the three and six months ended June 30, 2020 and 2019. See Note 8, Debt Obligations, to the Consolidated Financial Statements for more information about the convertible notes.

Share repurchases

The Company's Board of Directors had authorized a stock repurchase program allowing Euronet to repurchase up to $375 million in value or 10.0 million shares of stock through March 31, 2020. On March 11, 2019, in connection with the issuance of the Convertible Notes, the Board of Directors authorized an additional repurchase program of $120 million in value of the Company's common stock through March 11, 2021. On February 26, 2020, the Company put a repurchase program in place to repurchase up to $250 million in value, but not more than 5.0 million shares of common stock through February 28, 2022. For the three months ended June 30, 2020, there were no repurchases of stock under the repurchase programs and for the six months ended June 30, 2020, the Company repurchased $239.8 million in value of Euronet common stock under the repurchase programs. Repurchases under either current program may take place in the open market or in privately negotiated transactions, including derivative transactions, and may be made under a Rule 10b5-1 plan.

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consists entirely of foreign currency translation adjustments. The Company recorded a foreign currency translation gain of $32.2 million and loss of $27.6 million for the three and six months ended June 30, 2020, respectively, and gain of $12.2 million and loss of $4.0 million for the three and six months ended June 30, 2019, respectively. There were no reclassifications of foreign currency translation into the consolidated statements of income for the three and six months ended June 30, 2020 and 2019.

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
Segment Information (Details) $ in Thousands	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($) segment	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)
Segment Reporting Information [Line Items]
Revenues	$ 527,803	$ 691,867	$ 1,111,710	$ 1,269,376
Operating Expenses [Abstract]
Direct operating costs	350,011	393,811	709,467	747,644
Salaries and benefits	90,952	98,550	192,192	191,345
Selling, general and administrative	53,315	53,842	114,108	101,989
Goodwill impairment	104,554		104,554
Depreciation and amortization	30,242	27,767	61,058	54,407
Total operating expenses	629,074	573,970	1,181,379	1,095,385
Operating (loss) income	(101,271)	117,897	$ (69,669)	173,991
Number of reportable segments \| segment			3
Assets	3,961,535		$ 3,961,535		$ 4,657,666
Eft Processing Segment [Member]
Segment Reporting Information [Line Items]
Revenues	78,488	231,946	224,313	377,649
Operating Expenses [Abstract]
Direct operating costs	62,465	105,568	150,001	189,344
Salaries and benefits	21,289	21,339	43,380	40,770
Selling, general and administrative	9,515	10,745	20,456	19,831
Goodwill impairment	21,861		21,861
Depreciation and amortization	19,934	17,778	40,256	34,420
Total operating expenses	135,064	155,430	275,954	284,365
Operating (loss) income	(56,576)	76,516	(51,641)	93,284
Assets	1,394,600		1,394,600		1,914,144
Epay Segment [Member]
Segment Reporting Information [Line Items]
Revenues	187,563	184,160	360,474	360,274
Operating Expenses [Abstract]
Direct operating costs	144,056	140,427	274,130	273,952
Salaries and benefits	15,191	14,998	30,888	29,751
Selling, general and administrative	8,635	9,424	17,473	17,476
Goodwill impairment
Depreciation and amortization	1,651	1,756	3,495	3,541
Total operating expenses	169,533	166,605	325,986	324,720
Operating (loss) income	18,030	17,555	34,488	35,554
Assets	801,003		801,003		962,671
Money Transfer Segment [Member]
Segment Reporting Information [Line Items]
Revenues	262,863	276,783	529,097	533,364
Operating Expenses [Abstract]
Direct operating costs	144,589	148,834	287,498	286,238
Salaries and benefits	49,059	52,713	102,923	103,869
Selling, general and administrative	33,172	31,731	71,754	60,840
Goodwill impairment	82,693		82,693
Depreciation and amortization	8,577	8,159	17,148	16,297
Total operating expenses	318,090	241,437	562,016	467,244
Operating (loss) income	(55,227)	35,346	(32,919)	66,120
Assets	1,517,809		1,517,809		1,560,136
Corporate Services, Eliminations and Other [Member]
Segment Reporting Information [Line Items]
Revenues	(1,111)	(1,022)	(2,174)	(1,911)
Operating Expenses [Abstract]
Direct operating costs	(1,099)	(1,018)	(2,162)	(1,890)
Salaries and benefits	5,413	9,500	15,001	16,955
Selling, general and administrative	1,993	1,942	4,425	3,842
Goodwill impairment
Depreciation and amortization	80	74	159	149
Total operating expenses	6,387	10,498	17,423	19,056
Operating (loss) income	(7,498)	(11,520)	(19,597)	(20,967)
Assets	248,123		248,123		$ 220,715
Europe [Member]
Segment Reporting Information [Line Items]
Revenues	266,332	409,594	572,141	717,670
Europe [Member] \| Eft Processing Segment [Member]
Segment Reporting Information [Line Items]
Revenues	44,927	192,696	144,401	300,307
Europe [Member] \| Epay Segment [Member]
Segment Reporting Information [Line Items]
Revenues	122,675	123,322	237,952	238,228
Europe [Member] \| Money Transfer Segment [Member]
Segment Reporting Information [Line Items]
Revenues	98,730	93,576	189,788	179,135
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	69,452	81,784	150,902	159,748
Asia Pacific [Member] \| Eft Processing Segment [Member]
Segment Reporting Information [Line Items]
Revenues	20,438	31,287	51,766	61,164
Asia Pacific [Member] \| Epay Segment [Member]
Segment Reporting Information [Line Items]
Revenues	22,782	18,920	42,056	36,294
Asia Pacific [Member] \| Money Transfer Segment [Member]
Segment Reporting Information [Line Items]
Revenues	26,232	31,577	57,080	62,290
Other geographic locations [Member]
Segment Reporting Information [Line Items]
Revenues	11,010	10,293	21,955	19,950
Other geographic locations [Member] \| Eft Processing Segment [Member]
Segment Reporting Information [Line Items]
Revenues		5	4	15
Other geographic locations [Member] \| Epay Segment [Member]
Segment Reporting Information [Line Items]
Revenues	6,000	4,186	10,508	8,356
Other geographic locations [Member] \| Money Transfer Segment [Member]
Segment Reporting Information [Line Items]
Revenues	5,010	6,102	11,443	11,579
North America [Member]
Segment Reporting Information [Line Items]
Revenues	182,120	191,218	368,886	373,919
North America [Member] \| Eft Processing Segment [Member]
Segment Reporting Information [Line Items]
Revenues	13,123	7,958	28,142	16,163
North America [Member] \| Epay Segment [Member]
Segment Reporting Information [Line Items]
Revenues	36,106	37,732	69,958	77,396
North America [Member] \| Money Transfer Segment [Member]
Segment Reporting Information [Line Items]
Revenues	132,891	145,528	270,786	280,360
Consolidation, Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	$ (1,111)	$ (1,022)	$ (2,174)	$ (1,911)

Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of the derivative instruments as recorded in the Consolidated Balance Sheets

The following table summarizes the fair value of the derivative instruments as recorded in the Consolidated Balance Sheets as of the dates below:

Asset Derivatives

Liability Derivatives

Fair Value

(in thousands)

Balance Sheet Location

June 30, 2020

December 31, 2019

Balance Sheet Location

June 30, 2020

December 31, 2019

Derivatives not designated as hedging instruments

Foreign currency exchange contracts

Prepaid expenses and other current assets

71,590

54,765

Accrued expenses and other current liabilities

(51,905)

(41,935

)

Schedule of offsetting assets and liabilities

The following tables summarize the gross and net fair value of derivative assets and liabilities as of June 30, 2020 and December 31, 2019 (in thousands):

Offsetting of Derivative Assets


							Gross Amounts Not Offset in the Consolidated Balance Sheet
As of June 30, 2020	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts Presented in the Consolidated Balance Sheet		Financial Instruments			Cash Collateral Received			Net Amounts
Derivatives subject to a master netting arrangement or similar agreement	$	71,590	$	—	$	71,590	$	(41,843)		$	(9,737)		$	20,010

As of December 31, 2019
Derivatives subject to a master netting arrangement or similar agreement	$	54,765	$	—	$	54,765	$	(34,935	)	$	(7,362	)	$	12,468


									Gross Amounts Not Offset in the Consolidated Balance Sheet
As of June 30, 2020	Gross Amounts of Recognized Liabilities			Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts Presented in the Consolidated Balance Sheet			Financial Instruments		Cash Collateral Paid		Net Amounts
Derivatives subject to a master netting arrangement or similar agreement	$	(51,905)		$	—	$	(51,905)		$	41,843	$	917	$	(9,145)

As of December 31, 2019
Derivatives subject to a master netting arrangement or similar agreement	$	(41,935	)	$	—	$	(41,935	)	$	34,935	$	827	$	(6,173	)

Schedule of amount of gains and losses on derivatives in the Consolidated Statements of Income

The following table summarizes the location and amount of gains and losses on derivatives in the Consolidated Statements of Income for the three and six months ended June 30, 2020 and 2019:


		Amount of Gain Recognized in Income on Derivative Contracts (a)
	Location of Gain Recognized in Income on Derivative Contracts	Three Months Ended June 30,					Six Months Ended June 30,
(in thousands)		2020		2019				2020		2019
Foreign currency exchange contracts - Ria Operations	Foreign currency exchange (loss) gain, net	$	(460)	$	(2,126	)	$	(223)	$	334

Accrued Expenses and Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

Schedule of Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consist of the following:


	As of
(in thousands)	June 30, 2020		December 31, 2019
Accrued expenses	$	247,955	$	246,699
Derivative liabilities	51,905		41,935
Current portion of capital lease obligations	6,511		5,919
Deferred income taxes	—		4
Total	$	306,371	$	294,557

Consolidated Statements of Changes in Equity Statement - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]
Balance at Dec. 31, 2018	$ 1,232,842	$ 1,198	$ 1,104,264	$ (391,551)	$ 669,805	$ (151,043)	$ 169
Balance, shares at Dec. 31, 2018		51,819,998
Other comprehensive loss	(16,185)					(16,156)	(29)
Stock issued under employee stock plans	3,441	$ 3	5,194	(1,756)
Stock issued under employee stock plans, shares		130,136
Share-based compensation	4,490		4,490
Issuance of convertible notes, net of tax	71,660		71,660
Redemptions and conversions of convertible notes			(42,917)
Redemptions and conversions of convertible notes, net of tax		6
Repurchases and conversions of convertible notes	(42,917)
Net (loss) income	34,579				34,543		36
Balance at Mar. 31, 2019	1,287,910	$ 1,201	1,142,691	(393,307)	704,348	(167,199)	176
Balance, shares at Mar. 31, 2019		51,950,140
Balance at Dec. 31, 2018	1,232,842	$ 1,198	1,104,264	(391,551)	669,805	(151,043)	169
Balance, shares at Dec. 31, 2018		51,819,998
Net (loss) income	102,584
Balance at Jun. 30, 2019	1,398,223	$ 1,251	1,172,834	(393,353)	772,501	(155,050)	40
Balance, shares at Jun. 30, 2019		54,480,239
Balance at Mar. 31, 2019	1,287,910	$ 1,201	1,142,691	(393,307)	704,348	(167,199)	176
Balance, shares at Mar. 31, 2019		51,950,140
Other comprehensive loss	12,161					12,149	12
Stock issued under employee stock plans	1,694		1,740	(46)
Stock issued under employee stock plans, shares		41,856
Share-based compensation	6,003		6,003
Redemptions and conversions of convertible notes	22,450	$ 50	22,400
Redemptions and conversions of convertible notes, net of tax		2,488,243
Net (loss) income	68,005				68,153		(148)
Balance at Jun. 30, 2019	1,398,223	$ 1,251	1,172,834	(393,353)	772,501	(155,050)	40
Balance, shares at Jun. 30, 2019		54,480,239
Balance at Dec. 31, 2019	1,579,342	$ 1,256	1,190,058	(463,704)	1,016,554	(164,890)	68
Balance, shares at Dec. 31, 2019		54,220,854
Other comprehensive loss	(59,818)					(59,777)	(41)
Stock issued under employee stock plans	1,453	$ 1	1,701	(249)
Stock issued under employee stock plans, shares		80,519
Share-based compensation	6,338		6,338
Repurchase of shares	$ (239,763)
Repurchase of shares, shares	(2,095,683)
Net (loss) income	$ 1,720				1,921		(201)
Balance at Mar. 31, 2020	1,289,272	$ 1,257	1,198,097	(703,716)	1,018,475	(224,667)	(174)
Balance, shares at Mar. 31, 2020		52,205,690
Balance at Dec. 31, 2019	1,579,342	$ 1,256	1,190,058	(463,704)	1,016,554	(164,890)	68
Balance, shares at Dec. 31, 2019		54,220,854
Net (loss) income	(114,013)
Balance at Jun. 30, 2020	1,212,660	$ 1,259	1,204,985	(703,657)	902,671	(192,522)	(76)
Balance, shares at Jun. 30, 2020		52,288,531
Balance at Mar. 31, 2020	1,289,272	$ 1,257	1,198,097	(703,716)	1,018,475	(224,667)	(174)
Balance, shares at Mar. 31, 2020		52,205,690
Other comprehensive loss	32,172					32,145	27
Stock issued under employee stock plans	3,824	$ 2	3,763	59
Stock issued under employee stock plans, shares		82,841
Share-based compensation	3,125		3,125
Net (loss) income	(115,733)				(115,804)		71
Balance at Jun. 30, 2020	$ 1,212,660	$ 1,259	$ 1,204,985	$ (703,657)	$ 902,671	$ (192,522)	$ (76)
Balance, shares at Jun. 30, 2020		52,288,531

Derivative Instruments and Hedging Activities (Narrative) (Details) - Foreign Exchange Contracts [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Xe Operations [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Notional Amount	$ 1,500,000		$ 1,500,000
United States of America, Dollars \| Ria Operations [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Notional Amount	222		222
Euro Member Countries, Euro \| Ria Operations [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Notional Amount	332		$ 332
Maximum [Member] \| Ria Operations [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency forward contract term			14 days
Trading Revenue [Member] \| Xe Operations [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign Currency Exchange Margin	$ 13,200	$ 16,100	$ 31,300	$ 34,700

Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Schedule of Future minimum lease payments under non-cancelable operating leases

Future minimum lease payments under non-cancelable operating leases (with initial lease terms in excess of one year) as of June 30, 2020 are:


	As of June 30, 2020
Maturity of Lease Liabilities (in thousands)	Operating Leases (1)
Remainder of 2020	$	26,198
2021	42,182
2022	29,304
2023	20,294
2024	13,105
Thereafter	26,319
Total lease payments	$	157,402
Less: imputed interest	(3,754)
Present value of lease liabilities	$	153,648

Schedule of Lease expense recognized in the Consolidated Statements of Income

Lease expense recognized in the Consolidated Statements of Income is summarized as follows:


Lease Expense (in thousands)	Income Statement Classification	Three Months Ended June 30, 2020		Three Months Ended June 30, 2019		Six Months Ended June 30, 2020			Six Months Ended June 30, 2019
Operating lease expense	Selling, general and administrative and Direct operating costs	$	21,045	$	33,113	$	54,233	$	63,573
Short-term and variable lease expense	Selling, general and administrative and Direct operating costs		12,281		12,320	20,961			18,889
Total lease expense		$	33,326	$	45,433	$	75,194	$	82,462

Schedule of Other information about lease amounts recognized in the consolidated financial statements

Other information about lease amounts recognized in the consolidated financial statements is summarized as follows:


Lease Term and Discount Rate of Operating Leases	As of June 30, 2020
Weighted- average remaining lease term (years)	4.8
Weighted- average discount rate	2.1	%

Schedule ofsupplemental cash flow and non-cash information related to leases.

The following table presents supplemental cash flow and non-cash information related to leases.


Other Information (in thousands)	Six Months Ended June 30, 2020		Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities (a)	$	53,869	$	62,935
Supplemental non-cash information on lease liabilities arising from obtaining ROU assets
ROU assets obtained in exchange for new operating lease liabilities	$	52,764	$	157,914

(a) Included in Net cash provided by operating activities on the Company's Consolidated Statements of Cash Flows.

Derivative Instruments and Hedging Activities (Details 2) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Assets, Fair Value, Gross Assets	$ 71,590	$ 54,765
Gross Amount of Eligible Offsetting Recognized Derivative Liabilities
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	71,590	54,765
Derivative Asset, Not Offset, Policy Election Deduction	(41,843)	(34,935)
Cash Collateral Received	(9,737)	(7,362)
Derivative Asset, Fair Value, Amount Offset Against Collateral	20,010	12,468
Derivative Liability, Fair Value, Gross Liability	(51,905)	(41,935)
Gross Amount of Eligible Offsetting Recognized Derivative Assets
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	(51,905)	(41,935)
Derivative Liability, Not Offset, Policy Election Deduction	41,843	34,935
Cash Collateral Paid	917	827
Derivative Liability, Fair Value, Amount Offset Against Collateral	$ (9,145)	$ (6,173)

Goodwill and Acquired Intangible Assets, Net (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward]
Finite-Lived Intangible Assets, Net	$ 127,108,000		$ 141,847,000
Decreases:
Finite-lived Intangible Assets Acquired
Total intangible assets, other changes	(18,045,000)
Finite-Lived Intangible Assets, Amortization Expense	(11,236,000)
Finite-lived intangible assets, other changes	(3,503,000)
Goodwill	624,253,000		743,823,000
Goodwill, Acquired During Period	(474,000)
Total intangible assets acquired during period	474,000
Goodwill, Other Increase (Decrease)	(14,542,000)
Intangible Assets, Net (Including Goodwill)	751,361,000		$ 885,670,000
Total intangible assets amortization expense	(11,236,000)
Total intangible assets, other changes	(18,045,000)
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year	10,900,000
Finite-Lived Intangible Asset, Expected Amortization, Year One	21,300,000
Finite-Lived Intangible Asset, Expected Amortization, Year Two	20,300,000
Finite-Lived Intangible Asset, Expected Amortization, Year Three	15,700,000
Finite-Lived Intangible Asset, Expected Amortization, Year Four	9,400,000
Finite-Lived Intangible Asset, Expected Amortization, Year Five	6,400,000
Impairment Acquired Intangible Assets
Goodwill Impairment	(104,554,000)
Impairement total intangible assets	104,554,000
Goodwill [Member]
Decreases:
Goodwill	624,300
Eft Processing Segment [Member]
Decreases:
Goodwill	118,300,000
Goodwill Impairment	(21,900,000)
Money Transfer Segment [Member]
Decreases:
Goodwill	378,300,000
Goodwill Impairment	(82,700,000)
Epay Segment [Member]
Decreases:
Goodwill	127,700,000
Other Reporting Units [Member]
Decreases:
Goodwill Impairment	$ (104,600,000)

Settlement Assets and Obligations

6 Months Ended

Jun. 30, 2020

Settlement Assets [Abstract]

SETTLEMENT ASSETS AND OBLIGATIONS

(3) SETTLEMENT ASSETS AND OBLIGATIONS

Settlement assets represent funds received or to be received from agents for unsettled money transfers and from merchants for unsettled prepaid transactions. The Company records corresponding settlement obligations relating to amounts payable. Settlement assets consist of cash and cash equivalents, restricted cash, accounts receivable and prepaid expenses and other current assets. Cash received by Euronet agents and merchants generally becomes available to the Company within two weeks after initial receipt by the business partner. Receivables from business partners represent funds collected by such business partners that are in transit to the Company.

Settlement obligations consist of money transfers and accounts payable to agents and content providers. Money transfer accounts payable represent amounts to be paid to transferees when they request funds. Most agents typically settle with transferees first then obtain reimbursement from the Company. Money order accounts payable represent amounts not yet presented for payment. Due to the agent funding and settlement process, accounts payable to agents represent amounts due to agents for money transfers that have not been settled with transferees.


	As of
(in thousands)	June 30, 2020		December 31, 2019
Settlement assets:
Settlement cash and cash equivalents	$	340,915	$	282,188
Settlement restricted cash	34,256		49,168
Accounts receivable	426,056		574,410
Prepaid expenses and other current assets	91,449		107,301
Total settlement assets	$	892,676	$	1,013,067
Settlement obligations:
Trade account payables	$	349,721	$	504,667
Accrued expenses and other current liabilities	542,955		508,400
Total settlement obligations	$	892,676	$	1,013,067

A portion of the Company's credit losses are recorded in the accounts receivable within settlement assets. The balance of credit losses related to accounts receivable within settlement assets was $29.0 million and $24.0 million as of June 30, 2020 and December 31, 2019, respectively.

The table below reconciles cash and cash equivalents, restricted cash, ATM cash, settlement cash and cash equivalents, and settlement restricted cash as presented within "Cash and cash equivalents and restricted cash" in the Consolidated Statement of Cash Flows.


	As of
(in thousands)	June 30, 2020		December 31, 2019		June 30, 2019		December 31, 2018
Cash and cash equivalents	$	864,871	$	786,081	$	532,615	$	385,031
Restricted cash	28,050		34,301		31,687		31,237
ATM cash	410,459		665,641		806,420		395,378
Settlement cash and cash equivalents	340,915		282,188		219,426		273,948
Settlement restricted cash	34,256		49,168		39,610		45,358
Cash and cash equivalents and restricted cash at end of period	$	1,678,551	$	1,817,379	$	1,629,758	$	1,130,952

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Capital Lease Obligations, Current	$ 6,511	$ 5,919
Derivative liabilities	51,905	41,935
Accrued expenses	247,955	246,699
Deferred Tax Liabilities Current		4
Accrued expenses and other current liabilities	$ 306,371	$ 294,557

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of financial assets and liabilities measured and recorded at fair value on a recurring basis

The following table details financial assets and liabilities measured and recorded at fair value on a recurring basis:


		As of June 30, 2020
(in thousands)	Balance Sheet Classification	Level 1		Level 2		Level 3		Total
Assets
Foreign currency exchange contracts	Other current assets	$	—	$	71,590	$	—	$	71,590
Liabilities
Foreign currency exchange contracts	Other current liabilities	$	—	$	(51,905)	$	—	$	(51,905)


		As of December 31, 2019
(in thousands)	Balance Sheet Classification	Level 1		Level 2			Level 3		Total
Assets
Foreign currency exchange contracts	Other current assets	$	—	$	54,765		$	—	$	54,765
Liabilities
Foreign currency exchange contracts	Other current liabilities	$	—	$	(41,935	)	$	—	$	(41,935	)

Goodwill and Acquired Intangible Assets, Net

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND ACQUIRED INTANGIBLE ASSETS, NET

(5) GOODWILL AND ACQUIRED INTANGIBLE ASSETS, NET

A summary of acquired intangible assets and goodwill activity for the six months ended June 30, 2020 is presented below:


(in thousands)	Acquired Intangible Assets		Goodwill		Total Intangible Assets
Balance as of December 31, 2019	$	141,847	$	743,823	$	885,670
Decreases:
Acquisition	—		(474)		(474)
Amortization	(11,236)		—		(11,236)
Impairment	—		(104,554)		(104,554)
Other (primarily changes in foreign currency exchange rates)	(3,503)		(14,542)		(18,045)
Balance as of June 30, 2020	$	127,108	$	624,253	$	751,361

Of the total goodwill balance of $624.3 million as of June 30, 2020, $378.3 million relates to the Money Transfer Segment, $127.7 million relates to the epay Segment and the remaining $118.3 million relates to the EFT Processing Segment. Estimated amortization expense on intangible assets with finite lives as of June 30, 2020, is expected to total $10.9 million for the remainder of 2020, $21.3 million for 2021, $20.3 million for 2022, $15.7 million for 2023, $9.4 million for 2024 and $6.4 million for 2025.

2020 Impairment Charges

The COVID-19 pandemic and subsequent mitigation efforts, which includes global business shutdowns, the closing of borders and the implementation of mandatory social distancing requirements, created an unprecedented disruption to our business during the second quarter of 2020. These mitigation efforts coupled with the negative economic impacts to the tourism industry caused a decline in revenues and changes to our forecasts. The Company tests for goodwill impairment on an annual basis in the fourth quarter each year and whenever events or circumstances dictate an interim impairment test is required. The Company determined the totality of these events constituted a triggering event that required us to perform an interim goodwill impairment assessment as of June 1, 2020. The Company concluded a triggering event had occurred for six reporting units, resulting in quantitative impairment tests. Three reporting units are within the EFT segment, two reporting units are within the Money Transfer segment, and one reporting unit is within the epay segment.

Under the quantitative impairment test, the evaluation of impairment involves comparing the current fair value of each reporting unit to its carrying value, including goodwill. The Company uses weighted results from the discounted cash flow model ("DCF model") and guideline public company method ("Market Approach model") to estimate the current fair value of its reporting units when testing for impairment, as management believes forecasted cash flows and EBITDA are the best indicators of such fair value. A number of significant assumptions and estimates are involved in the application of the DCF model to forecast operating cash flows, including sales volumes and gross margins, tax rates, capital spending, discount rates and working capital changes. Most of these assumptions vary significantly among the reporting units. Significant assumptions in the Market Approach model are actual and projected EBITDA, selected market multiple, and the estimated control premium. If the carrying value of the reporting unit exceeds its fair value, a goodwill impairment loss equal to such excess would be recognized. The DCF Model and Market Approach Model utilize Level 3 inputs in the fair value hierarchy as they include unobservable inputs that require significant management assumptions.

The Company completed its interim goodwill impairment test during the second quarter of 2020. It determined, after performing a quantitative review of six reporting units, that the fair value of three of the reporting units exceeded the respective carrying amounts. For the remaining three reporting units, the quantitative test indicated that the fair value of each of the reporting units was less than the respective carrying amounts. As a result, the Company recorded a non-cash goodwill impairment charge of $104.6 million with respect to the xe, Innova and Pure Commerce reporting units. $21.9 million of the impairment charge was included within the EFT Segment, and $82.7 million of the impairment charge was included in the Money Transfer Segment. We will continue to evaluate our goodwill and long-lived assets for potential triggering events as conditions warrant.

Determining the fair value of reporting units requires significant management judgment in estimating future cash flows and assessing potential market and economic conditions. It is reasonably possible that the Company’s operations will not perform as expected, or that the estimates or assumptions included in the 2019 annual impairment test and 2020 interim impairment test could change, which may result in the Company recording material non-cash impairment charges during the year in which these changes take place. As information regarding the impact of the COVID-19 pandemic on the Company's business, including intangible assets, becomes available, the impacts to cash flows and the related impact on recovery of intangible assets will be evaluated.

Derivative Instruments and Hedging Activities (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Ria Operations [Member] \| Foreign Exchange Contract [Member]
Derivative Instruments, Loss [Line Items]
Gain (loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ (460)	$ (2,126)	$ (223)	$ 334