0001213900-22-008758 | 10-K | XBRL Viewer

Print Document View Excel Document

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,260,466	$ 1,420,255
ATM cash	543,422	411,054
Restricted cash	3,693	3,334
Settlement assets	1,102,389	1,140,875
Trade accounts receivable, net of credit loss allowance of $4,469 and $5,926	203,010	117,517
Prepaid expenses and other current assets	195,443	272,900
Total current assets	3,308,423	3,365,935
Operating right of use lease assets	161,494	162,074
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	345,381	378,441
Goodwill	641,605	665,821
Acquired intangible assets, net of accumulated amortization of $185,054 and $175,210	97,793	121,883
Other assets, net of accumulated amortization of $62,349 and $55,710	189,580	232,557
Total assets	4,744,276	4,926,711
Current liabilities:
Settlement obligations	1,102,389	1,140,875
Trade accounts payable	193,529	147,593
Accrued expenses and other current liabilities	367,692	404,021
Current portion of operating lease obligations	52,136	52,436
Short-term debt obligations and current maturities of long-term debt obligations	821	797
Income taxes payable	59,037	36,359
Deferred revenue	77,037	73,360
Total current liabilities	1,852,641	1,855,441
Debt obligations, net of current portion	1,420,085	1,437,589
Operating lease obligations, net of current portion	111,355	106,502
Deferred income taxes	46,505	37,875
Other long-term liabilities	58,166	43,401
Total liabilities	3,488,752	3,480,808
Euronet Worldwide, Inc. stockholders' equity:
Preferred Stock, $0.02 par value. 10,000,000 shares authorized; 0 issued
Common Stock, $0.02 par value. 90,000,000 shares authorized; shares issued 63,779,009 and 63,366,010	1,275	1,267
Additional paid-in capital	1,274,118	1,228,446
Treasury stock, at cost, shares issued 12,631,125 and 10,631,961	(931,212)	(703,032)
Retained earnings	1,083,882	1,013,155
Accumulated other comprehensive loss	(172,582)	(94,214)
Total Euronet Worldwide, Inc. stockholders' equity	1,255,481	1,445,622
Noncontrolling interests	43	281
Total equity	1,255,524	1,445,903
Total liabilities and equity	$ 4,744,276	$ 4,926,711

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Credit loss allowance	$ 4,469	$ 5,926
Property and equipment, accumulated depreciation	532,631	490,429
Accumulated amortization	185,054	175,210
Other assets, accumulated amortization	$ 62,349	$ 55,710
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	63,779,009	63,366,010
Treasury stock, shares	12,631,125	10,631,961

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenues	$ 2,995,443	$ 2,482,700	$ 2,750,109
Operating expenses:
Direct operating costs	1,900,267	1,576,699	1,556,483
Acquired contract cost impairment	38,634
Salaries and benefits	484,839	404,142	394,744
Selling, general and administrative	251,933	221,614	211,944
Goodwill and acquired intangible assets impairment		106,602
Depreciation and amortization	135,754	127,021	111,744
Total operating expenses	2,811,427	2,436,078	2,274,915
Operating income	184,016	46,622	475,194
Other income (expense)
Interest income	664	1,040	1,969
Interest expense	(38,198)	(36,604)	(36,237)
Foreign currency exchange (loss) gain, net	(10,866)	(3,756)	2,701
Other gains (losses), net	59	869	(9,820)
Other expense, net	(48,341)	(38,451)	(41,387)
Income before income taxes	135,675	8,171	433,807
Income tax expense	(65,088)	(11,475)	(87,112)
Net income (loss)	70,587	(3,304)	346,695
Less: Net loss (income) attributable to noncontrolling interests	(140)	95	(54)
Net income (loss) attributable to Euronet Worldwide, Inc.	$ 70,727	$ (3,399)	$ 346,749
Earnings (loss) per share attributable to Euronet Worldwide, Inc. stockholders:
Basic	$ (1.34)	$ (0.06)	$ 6.49
Diluted	$ (1.32)	$ (0.06)	$ 6.31
Weighted average shares outstanding:
Basic	52,585,674	52,659,551	53,449,834
Diluted	53,529,576	52,659,551	54,913,887

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 70,587	$ (3,304)	$ 346,695
Other comprehensive (loss) income, net of tax:
Translation adjustment	(78,466)	70,794	(13,894)
Comprehensive (loss) income	(7,879)	67,490	332,801
Comprehensive loss (income) attributable to noncontrolling interests	(238)	213	(101)
Comprehensive (loss) income attributable to Euronet Worldwide, Inc.	$ (7,641)	$ 67,277	$ 332,902

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 7: 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=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3000-108585

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=123454820&loc=SL4569616-111683

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 17: 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=123359005&loc=d3e8933-108599

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 23: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669625-108580

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 29: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 31: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4591551-111686

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4591552-111686

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

+ Details

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interests
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	346,695				346,749		(54)
Other comprehensive loss	(13,894)					(13,847)	(47)
Stock issued under employee stock plans	11,947	$ 8	13,216	(1,277)
Stock issued under employee stock plans, shares		405,617
Share-based compensation	21,439		21,439
Issuance of convertible notes, net of tax	71,659		71,659
Repurchase of shares	(70,876)			(70,876)
Repurchase of shares, shares		(493,010)
Redemptions and conversions of convertible notes, net of tax	(20,467)	$ 50	(20,517)
Redemptions and conversions of convertible notes, net of tax, shares		2,488,249
Stockholders' Equity, Other	(3)		(3)
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(3,304)				(3,399)		95
Other comprehensive loss	70,794					70,676	118
Stock issued under employee stock plans	16,883	$ 11	16,437	435
Stock issued under employee stock plans, shares		608,878
Share-based compensation	21,951		21,951
Repurchase of shares	(239,763)			(239,763)
Repurchase of shares, shares		(2,095,683)
Balance at Dec. 31, 2020	1,445,903	$ 1,267	1,228,446	(703,032)	1,013,155	(94,214)	281
Balance, shares at Dec. 31, 2020		52,734,049
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	70,587				70,727		(140)
Other comprehensive loss	(78,466)					(78,368)	(98)
Stock issued under employee stock plans	8,724	$ 8	9,132	416
Stock issued under employee stock plans, shares		413,835
Share-based compensation	36,540		36,540
Repurchase of shares	(227,764)			(227,764)
Repurchase of shares, shares		(2,000,000)
Balance at Dec. 31, 2021	$ 1,255,524	$ 1,275	$ 1,274,118	$ (931,212)	$ 1,083,882	$ (172,582)	$ 43
Balance, shares at Dec. 31, 2021		51,147,884

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Cash Flows [Abstract]
Net income (loss)	$ 70,587	$ (3,304)	$ 346,695
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	135,754	127,021	111,744
Share-based compensation	36,540	21,951	21,439
Unrealized foreign exchange loss (gain), net	10,866	3,756	(2,701)
Non-cash impairment of goodwill and acquired intangible assets		106,602
Deferred income taxes	(2,255)	(23,946)	17,113
Loss on early retirement of debt			9,831
Accretion of convertible debt discount and amortization of debt issuance costs	20,239	18,924	17,088
Changes in working capital, net of amounts acquired:
Income taxes payable, net	23,912	(16,823)	13,177
Trade accounts receivable	(107,478)	63,629	(87,882)
Prepaid expenses and other current assets	93,475	(168,256)	(68,945)
Trade accounts payable	(33,218)	88,687	53,550
Deferred revenue	7,472	10,945	132
Accrued expenses and other current liabilities	93,040	118,618	98,459
Changes in non-current assets and liabilities	57,642	(94,299)	(25,212)
Net cash provided by operating activities	406,576	253,505	504,488
Cash flows from investing activities:
Acquisitions, net of cash acquired		(1,100)	(94,187)
Purchases of property and equipment	(92,207)	(97,628)	(131,287)
Purchases of other long-term assets	(7,752)	(7,770)	(7,274)
Other, net	1,850	967	3,721
Net cash used in investing activities	(98,109)	(105,531)	(229,027)
Cash flows from financing activities:
Proceeds from issuance of shares	10,848	18,101	14,979
Repurchase of shares	(229,877)	(241,518)	(74,456)
Borrowings from revolving credit agreements	5,074,000	3,113,800	2,498,298
Repayments of revolving credit agreements	(5,061,000)	(2,843,400)	(2,714,203)
Repayments of long-term debt obligations			(446,702)
Net borrowings (repayments) from short-term debt obligations	52	(5,157)	(32,091)
Proceeds from long-term debt obligations			1,194,900
Debt issuance costs			(17,947)
Other, net	(6,259)	(6,428)	(6,480)
Net cash (used in) provided by financing activities	(212,236)	35,398	416,298
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(109,637)	98,757	(5,332)
(Decrease) increase in cash and cash equivalents and restricted cash	(13,406)	282,129	686,427
Cash and cash equivalents and restricted cash at beginning of period	2,099,508	1,817,379	1,130,952
Cash and cash equivalents and restricted cash at end of period	2,086,102	2,099,508	1,817,379
Supplemental Cash Flow Disclosures:
Interest paid during the period	18,503	17,319	13,125
Income taxes paid during the period	$ 48,688	$ 60,170	$ 74,086

Organization

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization

(1) Organization

Euronet Worldwide, Inc. (the "Company" or "Euronet") was established as a Delaware corporation on December 13, 1996 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 ATM, POS, card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products, and international payment services.

Basis of Preparation

12 Months Ended

Dec. 31, 2021

BASIS OF PREPARATION [Abstract]

Basis of Preparation

(2) Basis of Preparation

The Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The Consolidated Financial Statements include the accounts of Euronet and its wholly owned and majority owned subsidiaries and all significant intercompany balances and transactions have been eliminated. Euronet's investments in companies that it does not control, but has the ability to significantly influence, are accounted for under the equity method. Euronet has no variable interest entities. Results from operations related to entities acquired during the periods covered by the Consolidated Financial Statements are reflected from the effective date of acquisition.

The preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires that management make a number of estimates and assumptions relating to the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses. Significant items subject to such estimates and assumptions include computing income taxes, contingent purchase price consideration, 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.

Seasonality

Euronet’s EFT Processing Segment normally experiences its heaviest demand for 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.

Summary of Significant Accounting Policies and Practices

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies and Practices

(3) Summary of Significant Accounting Policies and Practices

Foreign currencies

Assets and liabilities denominated in currencies other than the functional currency of a subsidiary are remeasured at rates of exchange on the balance sheet date. Resulting gains and losses on foreign currency transactions are included in the Consolidated Statements of Operations. The majority of our foreign currency exchange gains or losses are due to the remeasurement of intercompany loans which are not considered a long-term investment in nature and are in a currency other than the functional currency of one of the parties to the loan.

The financial statements of foreign subsidiaries where the functional currency is not the U.S. dollar are translated to U.S. dollars using (i) exchange rates in effect at period end for assets and liabilities, and (ii) weighted average exchange rates during the period for revenues and expenses. Adjustments resulting from translation of such financial statements are reflected in accumulated other comprehensive (loss) income as a separate component of consolidated equity.

Cash equivalents

The Company considers all highly liquid investments, with an original maturity of three months or less, and certificates of deposit, which may be withdrawn at any time at the discretion of the Company without penalty, to be cash equivalents.

ATM cash

ATM cash represents cash within the ATM network either included within ATMs, within dedicated accounts, or in-transit to ATMs.

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. See Note 4, Settlement Assets and Obligations, to the Consolidated Financial Statements for further discussion on settlement assets and obligations.

Property and equipment

Property and equipment are stated at cost, less accumulated depreciation. Property and equipment acquired in acquisitions have been recorded at estimated fair values as of the acquisition date.

Depreciation is generally calculated using the straight-line method over the estimated useful lives of the respective assets.

Depreciation and amortization rates are generally as follows:

ATMs or ATM upgrades	5 - 7 years
Computers and software	3 - 5 years
POS terminals	3 - 5 years
Vehicles and office equipment	3 - 10 years
Leasehold improvements	Over the lesser of the lease term or estimated useful life

Goodwill and other intangible assets

Goodwill - The Company accounts for goodwill and other intangible assets in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 350, Intangibles - Goodwill and Other ("ASC 350"). In accordance with the requirements of ASC 350 the Company tests for impairment on an annual basis in the fourth quarter and whenever events or circumstances dictate. Goodwill is allocated among and evaluated for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment.

ASC 350 provides an entity the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not (more than 50%) that the estimated fair value of a reporting unit is less than its carrying amount. If an entity elects to perform a qualitative assessment and determines that an impairment is more likely than not, the entity is then required to perform the existing quantitative impairment test (described below), otherwise no further analysis is required. An entity also may elect not to perform the qualitative assessment and, instead, proceed directly to the quantitative impairment test. The Company has a policy for its annual review of goodwill to perform the qualitative assessment for all reporting units not subjected directly to the quantitative impairment test.

Under the qualitative assessment, various events and circumstances (or factors) that would affect the estimated fair value of a reporting unit are identified (similar to impairment indicators). These factors are then classified by the type of impact they would have on the estimated fair value using positive, neutral, and adverse categories based on current business conditions. Furthermore, the Company considers the results of the most recent quantitative impairment test completed for a reporting unit and compares, among other factors, the weighted average cost of capital ("WACC") between the current and prior years for each reporting unit.

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 income approach or 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, 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 projected EBITDA, selected market multiple, and the estimated control premium. If the carrying value of goodwill exceeds its fair value, an 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.

Other Intangible Assets - In accordance with ASC 350, intangible assets with finite lives are amortized over their estimated useful lives. Unless otherwise noted, amortization is calculated using the straight-line method over the estimated useful lives of the assets as follows:

Non-compete agreements	2 - 5 years
Trademarks and trade names	2 - 20 years
Software	3 - 10 years
Customer relationships	6 - 20 years

The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If such events or changes in circumstances are present, a loss is recognized if the carrying value of the asset is in excess of the sum of the undiscounted cash flows expected to result from the use of the asset and its eventual disposition. An impairment loss is measured as the amount by which the carrying amount of the asset exceeds the fair value of the asset.

See Note 9, Goodwill and Acquired Intangible Assets, Net, to the Consolidated Financial Statements for additional information regarding the impairment of goodwill and other intangible assets.

Other assets

Other assets include capitalized software development costs and capitalized payments for new or renewed contracts. Euronet capitalizes initial payments for new or renewed contracts to the extent recoverable through future operations, contractual minimums and/or penalties in the case of early termination. The Company's accounting policy is to limit the amount of capitalized costs for a given contract to the lesser of the estimated ongoing net future cash flows related to the contract or the termination fees the Company would receive in the event of early termination of the contract by the customer.

ASC Topic 340, Other Assets and Deferred Costs ("ASC 340") requires the deferral of incremental costs to fulfill customer contracts, known as contract assets, which are then amortized to expense as part of direct operating costs over the respective periods of expected benefit. Deferred contract costs are reported on our balance sheet within current or non-current other assets based on the expected life of the related contract. At December 31, 2021 and 2020, we had $96.4 million and $143.5 million, respectively, of deferred contract costs. For the years ended December 31, 2021, 2020 and 2019, we had $33.3 million, $17.2 million and $6.9 million of amortization related to these costs, respectively. On a quarterly basis we evaluate the carrying amount of contract assets recognized to determine if there are contracts that may have a carrying amount in excess of the remaining future consideration to be received from the contract. During the fourth quarter of 2021, we identified certain contract assets that had carrying balances greater than the estimated remaining cash flows in the contracts and recorded a corresponding $38.6 million non-cash impairment. The impairment charge is the result of lower-than-expected customer transaction volume related to these specific contracts, stemming primarily from COVID-19 related disruptions. This non-cash impairment charge is included in the Money Transfer Segment.

Convertible notes

The Company accounts for its convertible debt instruments that may be settled in cash upon conversion in accordance with ASC Topic 470, Debt ("ASC 470"), which requires the proceeds from the issuance of such convertible debt instruments to be allocated between debt and equity components so that debt is discounted to reflect the Company's nonconvertible debt borrowing rate. Further, the Company applies ASC 470-20-35-13, which requires the debt discount to be amortized over the period the convertible debt is expected to be outstanding as additional non-cash interest expense.

Income taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

In accordance with ASC Topic 740, Income Taxes ("ASC 740"), the Company's policy is to record estimated interest and penalties related to the underpayment of income taxes as income tax expense in the Consolidated Statements of Operations. See Note 14, Income Taxes, to the Consolidated Financial Statements for further discussion regarding these provisions.

Presentation of taxes collected and remitted to governmental authorities

The Company presents taxes collected and remitted to governmental authorities on a net basis in the accompanying Consolidated Statements of Operations.

Fair value measurements

The Company applies the provisions of ASC Topic 820, Fair Value Measurements and Disclosures ("ASC 820"), regarding fair value measurements for assets and liabilities. ASC 820 defines fair value, establishes a framework for measuring fair value and requires certain disclosures about fair value measurements. The provisions apply whenever other accounting pronouncements require or permit fair value measurements. See Note 18, Financial Instruments and Fair Value Measurements, to the Consolidated Financial Statements for the required fair value disclosures.

Accounting for derivative instruments and hedging activities

The Company accounts for derivative instruments and hedging activities in accordance with ASC Topic 815, Derivatives and Hedging ("ASC 815"), which requires that all derivative instruments be recognized as either assets or liabilities on the balance sheet at fair value. Primarily in the Money Transfer Segment, the Company enters into foreign currency derivative contracts, mainly forward contracts, to offset foreign currency exposure related to money transfer settlement assets and liabilities in currencies other than the U.S. dollar, derivative contracts written to its customers arising from its cross-currency money transfer services and certain assets and liability positions denominated in currencies other than the U.S. dollar. These contracts are considered derivative instruments under the provisions of ASC 815; however, the Company does not designate such instruments as hedges for accounting purposes. Accordingly, changes in the value of these contracts are recognized immediately as a component of foreign currency exchange gain (loss), net in the Consolidated Statements of Operations.

Cash flows resulting from derivative instruments are included in operating activities in the Company's Consolidated Statements of Cash Flows. The Company enters into derivative instruments with highly credit-worthy financial institutions and does not use derivative instruments for trading or speculative purposes. See Note 12, Derivative Instruments and Hedging Activities, to the Consolidated Financial Statements for further discussion of derivative instruments.

Share-based compensation

The Company follows the provisions of ASC Topic 718, Compensation - Stock Compensation ("ASC 718"), for equity classified awards, which requires the determination of the fair value of the share-based compensation at the grant date and subsequent recognition of the related expense over the period in which the share-based compensation is earned ("requisite service period").

The amount of future compensation expense related to awards of nonvested shares or nonvested share units ("restricted stock") is based on the market price for Euronet Common Stock at the grant date. The grant date is the date at which all key terms and conditions of the grant have been determined and the Company becomes contingently obligated to transfer equity to the employee who renders the requisite service, generally the date at which grants are approved by the Company's Board of Directors or Compensation Committee thereof. Share-based compensation expense for awards with only service conditions is generally recognized as expense on a "straight-line" basis over the requisite service period. For awards that vest based on achieving periodic performance conditions, expense is recognized on a "graded attribution method." The graded attribution method results in expense recognition on a straight-line basis over the requisite service period for each separately vesting portion of an award. The Company has elected to use the "with and without method" when calculating the income tax benefit associated with its share-based payment arrangements. See Note 16, Stock Plans, for further disclosure.

Revenue recognition

The Company recognizes revenue when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration the Company expects to be entitled to receive in exchange for those goods or services. Sales and usage-based taxes are excluded from revenues. A description of the major components of revenue by business segment is as follows:

EFT Processing - Revenues in the EFT Processing Segment are primarily derived from transaction and management fees and foreign currency exchange margin from owned and outsourced ATM, POS and card processing networks and from the sale of EFT software solutions for electronic payment and transaction delivery systems, and fees or margin earned from value added services, including dynamic currency conversion and domestic and international surcharge.

Transaction-based fees include charges for cash withdrawals, debit or credit card transactions, balance inquiries, transactions not completed because the relevant card issuer does not give authorization and prepaid mobile airtime recharges. Outsourcing services are generally billed on the basis of a fixed monthly fee per ATM, plus a transaction-based fee. Transaction-based fees are recognized at the time the transactions are processed and outsourcing management fees are recognized ratably over the contract period.

Certain of the Company's non-cancelable customer contracts provide for the receipt of up-front fees from the customer and/or decreasing or increasing fee schedules over the agreement term for substantially the same level of services to be provided by the Company. The Company recognizes revenue under these contracts based on proportional performance of services over the term of the contract. This generally results in "straight-line" (i.e., consistent value per period) revenue recognition of the contracts' total cash flows, including any up-front payment received from the customer, which is recorded as deferred revenue upon receipt.

epay - Revenue generated in the epay Segment is primarily derived from commissions or processing fees associated with distribution and/or processing of prepaid mobile airtime and digital media products. These fees and commissions are received from mobile operators, content vendors or distributors or from retailers. Commissions are recognized as revenue during the period in which the Company provides the service. The portion of the commission that is paid to retailers is generally recorded as a direct operating cost. In selling certain products, the Company is the principle obligor in the arrangements; accordingly, the gross sales value of the products is recorded as revenue and the purchase cost as direct operating cost. Transactions are processed through a network of POS terminals and direct connections to the electronic payment systems of retailers. Transaction processing fees are recognized at the time the transactions are processed.

Money Transfer - Revenues for money transfer and other services represent a transaction fee in addition to a margin earned from purchasing currency at wholesale exchange rates and selling the currency to customers at retail exchange rates. Revenues and the associated direct operating cost are recognized at the time the transaction is processed. The Company has origination and distribution agents in place, which each earn a fee for the respective service. These fees are reflected as direct operating costs.

Revenues

Deferred Revenues - The Company records deferred revenues when cash payments are received or due in advance of its performance. The increase in the deferred revenue balance for the year ended December 31, 2021 is primarily driven by $58.2 million of cash payments received in the current year for which the Company has not yet satisfied the performance obligations, partially offset by $54.5 million of revenues recognized that were included in the deferred revenue balance as of December 31, 2020.

Disaggregation of Revenues - The following table presents the Company's revenues disaggregated by segment and region. 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. The Company recognizes foreign exchange revenues from derivative instruments in its xe operations in accordance with ASC Topic 815 and not ASC Topic 606. These revenues are not significant to the Company's consolidated revenues and are included in the following tables.

	For the Year Ended December 31, 2021
(in thousands)	EFT Processing		epay		Money Transfer		Total
Europe	$	420,181	$	669,297	$	576,640	$	1,666,118
North America	63,368		139,759		667,738		870,865
Asia Pacific	107,020		158,122		105,086		370,228
Other	569		44,304		51,493		96,366
Eliminations	—		—		—		(8,134)
Total	$	591,138	$	1,011,482	$	1,400,957	$	2,995,443

	For the Year Ended December 31, 2020
(in thousands)	EFT Processing		epay		Money Transfer		Total
Europe	$	313,953	$	561,514	$	449,299	$	1,324,766
North America	56,447		144,613		577,845		778,905
Asia Pacific	98,313		100,917		124,413		323,643
Other	13		28,473		32,292		60,778
Eliminations	—		—		—		(5,392		)
Total	$	468,726	$	835,517	$	1,183,849	$	2,482,700

	For the Year Ended December 31, 2019
(in thousands)	EFT Processing		epay		Money Transfer		Total
Europe	$	724,163	$	524,907	$	373,302	$	1,622,372
North America	35,461		151,016		573,016		759,493
Asia Pacific	129,060		76,491		124,934		330,485
Other	28		16,915		24,974		41,917
Eliminations	—		—		—		(4,158		)
Total	$	888,712	$	769,329	$	1,096,226	$	2,750,109

Recently issued accounting pronouncements

In August 2020, the FASB issued ASU 2020-06, "Accounting for Convertible Instruments and Contracts in an Entity's Own Equity" which simplifies the accounting for convertible instruments by eliminating certain accounting models when the conversion features are not required to be accounted for as derivatives under Topic 815, Derivatives and Hedging, or that do not result in substantial premiums accounted for as paid-in-capital. Under this ASU, certain debt instruments with embedded conversion features will be accounted for as a single liability measured at its amortized cost. Additionally, this ASU eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments. The new guidance is effective for annual periods beginning after December 15, 2021, including interim periods within those fiscal years. We plan to adopt the new standard during the first quarter of 2022 using the modified retrospective approach and expect to record a $99.7 million decrease to additional paid-in capital, a $56.8 million decrease in debt discounts and a $42.9 million increase in retained earnings.

Settlement Assets and Obligations

12 Months Ended

Dec. 31, 2021

Settlement Assets [Abstract]

Settlement Assets and Obligations

(4) 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 accounts payable. Settlement assets consist of cash and cash equivalents, restricted cash, accounts receivable and prepaid expenses and other current assets. The settlement cash held at the Company is primarily generated from the monies remitted by consumers through Company agents and financial institutions in payment of the face value of the payment service or foreign currency purchased and the related fees charged to purchase the currency. The Company uses its cash and cash equivalents to pay the face value of the the payment service product upon presentation by the recipient. Cash received by Company 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 accrued expenses for money transfers, content providers, and EFT customer deposits and accounts payable to agents and content providers. Money transfer accrued expenses 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 accrued expenses represent amounts not yet presented for payment. Due to the agent funding and settlement process, accrued expenses to agents represent amounts due to agents for money transfers that have not been settled with transferees.

(in thousands)	As of December 31, 2021		As of December 31, 2020
Settlement assets:
Settlement cash and cash equivalents	$	203,624	$	188,191
Settlement restricted cash	74,897		76,674
Account receivables, net of credit loss allowance of $27,341 and $35,800	619,738		641,955
Prepaid expenses and other current assets	204,130		234,055
Total settlement assets	$	1,102,389	$	1,140,875
Settlement obligations:
Trade account payables	$	461,135	$	571,175
Accrued expenses and other current liabilities	641,254		569,700
Total settlement obligations	$	1,102,389	$	1,140,875

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)	December 31, 2021		December 31, 2020		December 31, 2019
Cash and cash equivalents	$	1,260,466	$	1,420,255	$	786,081
Restricted cash	3,693		3,334		34,301
ATM cash	543,422		411,054		665,641
Settlement cash and cash equivalents	203,624		188,191		282,188
Settlement restricted cash	74,897		76,674		49,168
Cash and cash equivalents and restricted cash at end of period	$	2,086,102	$	2,099,508	$	1,817,379

Stockholders' Equity

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

Stockholders' Equity

(5) Stockholders' Equity

Earnings Per Share

Basic earnings per share has been computed by dividing earnings available to common stockholders by the weighted average number of common shares outstanding during the respective period. Diluted earnings per share has been computed by dividing earnings 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:

	Year Ended December 31,
	2021	2020	2019
Computation of diluted weighted average shares outstanding:
Basic weighted average shares outstanding	52,585,674	52,659,551	53,449,834
Incremental shares from assumed exercise of stock options and vesting of restricted stock	943,902	—	1,464,053
Diluted weighted average shares outstanding	53,529,576	52,659,551	54,913,887

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 per share excludes stock options or shares of restricted stock that are anti-dilutive to the Company's weighted average common shares outstanding for the years ended December 31, 2021, 2020 and 2019 of approximately 1,668,000, 2,073,000 and 380,000, respectively.

The Company issued Convertible Senior Notes ("Convertible Notes") due March 2049 on March 18, 2019 and retired the existing convertible notes ("Retired Convertible Notes") that would have matured in 2044 on May 28, 2019. The Company's Convertible Notes currently have, and the Retired Convertible Notes had, 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 and the Retired Convertible Notes were included in the calculation of diluted earnings 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. Therefore, according to ASC Topic 260, Earnings per Share ("ASC 260"), there was no dilutive effect of the assumed conversion of the debentures as of December 31, 2021, 2020 and 2019. See Note 11, Debt Obligations, to the Consolidated Financial Statements for more information about the Convertible Notes and Retired 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 common 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. On December 8, 2021, the Company put a repurchase program in place to repurchase up to $300 million in value, but not more than 5.0 million shares of common stock through December 8, 2023. Repurchases under the programs 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. For the years ended December 31, 2021, 2020 and 2019 the Company repurchased $227.8 million, $239.8 million, and $70.9 million, respectively, in value of Euronet common stock under the repurchase programs.

Preferred Stock

The Company has the authority to issue up to 10 million shares of preferred stock, of which no shares are currently issued or outstanding.

Accumulated other comprehensive loss

As of December 31, 2021 and 2020, accumulated other comprehensive loss consists entirely of foreign currency translation adjustments. The Company recorded a foreign currency translation loss of $78.5 million, a gain of $70.8 million and a loss of $13.9 million for the years ended December 31, 2021, 2020, and 2019, respectively. There were no reclassifications of foreign currency translation into the Consolidated Statements of Operations for the years ended December 31, 2021, 2020, and 2019.

Dividends

No dividends were paid on any class of the Company's stock during 2021, 2020, and 2019.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Acquisitions

12 Months Ended

Dec. 31, 2021

Acquisitions [Abstract]

Acquisitions

(6) Acquisitions

In accordance with ASC 805, the Company allocates the purchase price of its acquisitions to the tangible assets, liabilities and intangible assets acquired based on fair values. Any excess purchase price over those fair values is recorded as goodwill. The fair value assigned to intangible assets acquired is supported by valuations using estimates and assumptions provided by management. For certain large acquisitions, management engages an appraiser to assist in the valuation process.

Pending Acquisitions

In March 2021, the Company entered into an agreement to purchase the Piraeus Bank Merchant Acquiring business of Piraeus Bank for €300 million, or approximately $360 million. The proposed arrangement will include separate commercial agreements for a long-term strategic partnership with Piraeus Bank for collaborative product distribution, processing and customer referrals. The acquisition will expand the Company’s omnichannel payments strategy and position the Company in Greece’s growing market for merchant acquiring services. The closing is targeted for the first half of 2022 and is subject to regulatory approvals, finalization of the commercial agreements, and customary closing conditions. The Company expects to finance the purchase price using cash on hand.

2019 Acquisitions

On November 30, 2019, the Company completed the acquisition of a North American based ATM operator with approximately 1,800 ATMs.

The purchase price was $92.5 million in cash. The purchase price was allocated to the assets acquired and liabilities assumed, including identifiable intangible assets, based on their respective fair values at the date of acquisition. The acquisition has been accounted for as business combinations in accordance with U.S. GAAP and the results of operations have been included from the date of acquisition in the EFT Processing Segment. The historical revenue and earnings were not significant for the purpose of presenting pro forma information for the pre-acquisition periods.

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date.

(in thousands)	As of November 30, 2019
Cash and cash equivalents	$	5,325
Trade accounts receivable	2,167
Other current assets	798
Property and equipment	16,542
Intangible assets	39,000
Total assets acquired	$	63,832

Trade accounts payable	$	(6,790	)
Accrued expenses and other current liabilities	(80		)
Total liabilities assumed	$	(6,870	)

Goodwill	35,540

Net assets acquired	$	92,502

The Company acquired customer relationship intangible assets with a fair value of $39.0 million, which are being amortized on a straight-line basis over 20 years.

Goodwill, with a value of $35.5 million, arising from the acquisition was included in the EFT Processing Segment and was attributable to expected growth opportunities in the United States. Goodwill and intangible assets associated with this acquisition are deductible for tax purposes.

Other

The Company completed three additional acquisitions in 2019 for immaterial amounts.

Restricted Cash

12 Months Ended

Dec. 31, 2021

Restricted Cash [Abstract]

Restricted Cash

(7) Restricted Cash

The restricted cash balances as of December 31, 2021 and 2020 were as follows:

	As of December 31,
(in thousands)	2021		2020
Cash held in trust and/or cash held on behalf of others	$	3,693	$	3,334
Restricted cash	$	3,693	$	3,334

Cash held in trust and/or cash held on behalf of others	$	62,077	$	64,489
Collateral on bank credit arrangements and other	12,820		12,185
Restricted cash included within settlement assets	$	74,897	$	76,674

Total Restricted Cash	$	78,590	$	80,008

Cash held in trust and/or cash held on behalf of others is in connection with the administration of the customer collection and vendor remittance activities by certain subsidiaries within the Company's epay and EFT Processing Segments. Amounts collected on behalf of certain mobile phone operators and/or merchants are deposited into a restricted cash account. The bank credit arrangements primarily represent cash collateral on deposit with commercial banks to cover guarantees.

Property and Equipment, Net

12 Months Ended

Dec. 31, 2021

Property and Equipment, Net [Abstract]

Property and Equipment, Net

(8) Property and Equipment, Net

The components of property and equipment, net of accumulated depreciation and amortization as of December 31, 2021 and 2020 are as follows:

	As of December 31,
(in thousands)	2021			2020
ATMs	$	560,310		$	554,508
POS terminals	31,321			33,258
Vehicles and office equipment	75,331			75,936
Computers and software	210,363			203,883
Land and buildings	687			1,285
	878,012			868,870
Less accumulated depreciation	(532,631		)	(490,429		)
Total	$	345,381		$	378,441

Depreciation expense related to property and equipment, including property and equipment recorded under finance leases, for the years ended December 31, 2021, 2020 and 2019 was $104.7 million, $96.1 million and $83.5 million, respectively.

Goodwill and Acquired Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets, Net

(9) Goodwill and Acquired Intangible Assets, Net

The following table summarizes intangible assets as of December 31, 2021 and 2020:

	As of December 31, 2021					As of December 31, 2020
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Customer relationships	$	176,024	$	(103,713	)	$	186,749	$	(99,131	)
Trademarks and trade names	45,445		(32,596		)	46,762		(31,327		)
Software	60,118		(47,485		)	61,602		(42,772		)
Non-compete agreements	1,260		(1,260		)	1,980		(1,980		)
Total	$	282,847	$	(185,054	)	$	297,093	$	(175,210	)

The following table summarizes the goodwill and amortizable intangible assets activity for the years ended December 31, 2021 and 2020:

(in thousands)	Acquired Intangible Assets			Goodwill			Total Intangible Assets
Balance as of January 1, 2020	$	141,847		$	743,823		$	885,670
Increases (decreases):
Acquisitions (see footnote 6)	1,575			(265)			1,310
Impairment	(2,048)			(104,554		)	(106,602)
Amortization	(22,867		)	—			(22,867		)
Other (primarily changes in foreign currency exchange rates)	3,376			26,817			30,193
Balance as of December 31, 2020	121,883			665,821			787,704
Increases (decreases):
Amortization	(23,059		)	—			(23,059		)
Other (primarily changes in foreign currency exchange rates)	(1,031		)	(24,216		)	(25,247		)
Balance as of December 31, 2021	$	97,793		$	641,605		$	739,398

Impairment Charges

The COVID-19 pandemic and subsequent mitigation efforts, which include global business shutdowns, the closing of borders and the implementation of mandatory social distancing requirements, has created an unprecedented disruption to our business beginning in the first half of 2020. These mitigation efforts coupled with the negative economic impacts to the tourism industry caused a decline in revenues, earnings, and necessitated changes to our forecasted outlook. 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 were within the EFT segment, two reporting units were within the Money Transfer segment, and one reporting unit was within the epay segment. 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.

During the second half of 2020, the Company recorded a $2.0 million non-cash impairment charge for acquired intangible assets, specifically related to customer lists in the xe reporting unit.

Of the total goodwill balance of $641.6 million as of December 31, 2021, $392.3 million relates to the Money Transfer Segment, $129.1 million relates to the epay Segment and the remaining $120.2 million relates to the EFT Processing Segment. Amortization expense for intangible assets with finite lives was $23.1 million, $22.9 million and $20.4 million for the years ended December 31, 2021, 2020 and 2019, respectively. Estimated annual amortization expense on intangible assets with finite lives as of December 31, 2021, is expected to total $21.7 million for 2022, $16.7 million for 2023, $9.9 million for 2024, $6.5 million for 2025, and $6.1 million for 2026.

Accrued Expenses and Other Current Liabilities

12 Months Ended

Dec. 31, 2021

Accrued Expenses and Other Current Liabilities [Abstract]

Accrued Expenses and Other Current Liabilities

(10) Accrued Expenses and Other Current Liabilities

The balances as of December 31, 2021 and 2020 were as follows:

	As of December 31,
(in thousands)	2021		2020
Accrued expenses	$	285,098	$	288,996
Derivative liabilities	23,285		65,905
Accrued payroll expenses	55,162		42,717
Current portion of finance lease obligations	4,147		6,403
Total	$	367,692	$	404,021

Debt Obligations

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Debt Obligations

(11) Debt Obligations

Debt obligations consist of the following as of December 31, 2021 and 2020:

	As of December 31,
(in thousands)	2021			2020
Credit Facility:
Revolving credit agreement	$	283,400		$	270,400
Convertible Debt:
0.75% convertible notes, unsecured, due 2049	468,235			452,228

1.375% Senior Notes, due 2026	682,080			732,840

Other obligations	920			850

Total debt obligations	$	1,434,635		$	1,456,318
Unamortized debt issuance costs	(13,729		)	(17,932		)
Carrying value of debt	$	1,420,906		$	1,438,386
Short-term debt obligations and current maturities of long-term debt obligations	(821		)	(797		)
Long-term debt obligations	$	1,420,085		$	1,437,589

As of December 31, 2021, aggregate annual maturities of long-term debt are $0.8 million in 2022, $283.5 million due in 2023, no maturities in 2024, $468.2 million due in 2025, and $682.1 million thereafter. This maturity schedule reflects the revolving credit facility maturing in 2023 and the Convertible Notes maturing in 2025, coinciding with the terms of the initial put option by holders of the Convertible Notes. It also reflects the maturing of the 1.375% Senior Notes of €600 million ($682.1 million) due in 2026.

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 Credit Facility 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 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 weighted average interest rate of the Company's borrowings under the Credit Facility was 1.2% as of December 31, 2021.

As of December 31, 2021 and 2020, the Company had stand-by letters of credit/bank guarantees outstanding under the Credit Facility of $57.3 million and $60.8 million, respectively. Stand-by letters of credit/bank guarantees reduce the Company's borrowing capacity under the Credit Facility and are generally used to secure trade credit and performance obligations. As of December 31, 2021 and 2020, the stand-by letters of credit interest charges were each 1.1% per annum. Borrowing capacity under the Credit Facility as of December 31, 2021 was $689.3 million.

The Credit Facility contains customary affirmative and negative covenants, events of default and financial covenants, including: (i) as of the end of each fiscal quarter ended on March 31, September 30 and December 31, a Consolidated Total Leverage Ratio not to be greater than 3.5 to 1.0; (ii) as of the end of each fiscal quarter ended on June 30, a Consolidated Total Leverage Ratio (as defined in the Credit Facility) not to be greater than 4.0 to 1.0; provided that, not more than two times prior to the expiration date, that a Material Acquisition has been consummated, for any period of four consecutive fiscal quarters following such Material Acquisition, the Consolidated Total Leverage Ratio will be not greater than 4.0 to 1.0 for fiscal quarters ended on March 31, September 30 and December 31 and not greater than 4.5 to 1.0 for fiscal quarters ended on June 30; provided, further, that following such four consecutive fiscal quarters for which the maximum Consolidated Total Leverage Ratio is increased, the maximum Consolidated Total Leverage Ratio shall revert to the levels set forth in clauses (i) and (ii) above for not fewer than two fiscal quarters before a subsequent Increase Notice is delivered to the syndicate of financial institutions; and (iii) a Consolidated Interest Coverage Ratio (as defined in the Credit Facility) not less than 4.0 to 1.0. Subject to meeting certain leverage ratio and liquidity requirements as contained in the unsecured credit agreement, the Company is permitted to pay dividends, repurchase common stock and repurchase subordinated debt. On September 17, 2020, the Company and certain of its subsidiaries entered into an amendment (the "Amendment") to the Credit Facility. Under the Amendment, the Consolidated Total Leverage Ratio, as defined in the Credit Facility, was modified to reduce the amount of consolidated funded debt by the amount of cash and cash equivalents on the Company's consolidated balance sheet and the Consolidated Interest Coverage Ratio now includes a one-time option to reduce the ratio to 3.5 to 1.0 from 4.0 to 1.0 for a period of up to three consecutive quarters. The Company was in compliance with all debt covenants as of December 31, 2021.

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.

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. In connection with the issuance of the Convertible Notes, the Company recorded $12.8 million in debt issuance costs, which are being amortized through March 1, 2025.

The Company may not redeem the Convertible Notes prior to September 20, 2022. The Company may redeem for cash all or any portion of the Convertible Notes, at its option, (i) on or after September 20, 2022 if the closing sale price of the Company's Common Stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption and (ii) on or after March 20, 2025 and prior to the maturity date, regardless of the foregoing sale price condition, in each case at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the Convertible Notes. In addition, if a fundamental change, as defined in the Indenture, occurs prior to the maturity date, holders may require the Company to repurchase for cash all or part of their Convertible Notes 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 fundamental change repurchase date. As of December 31, 2021 the conversion threshold was not met.

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.

The Company used $94.2 million of the net proceeds from the issuance of the Convertible Notes to repurchase $49.0 million aggregate principal amount of the Company's 1.5% Convertible Senior Notes due 2044 (the "Retired Convertible Notes") from a limited number of holders in privately negotiated transactions.

On March 18, 2019, the Company provided a notice of redemption to the trustee of the indenture governing the Retired Convertible Notes (the "Existing Indenture"), pursuant to which the Company would redeem all of the remaining principal amount outstanding of the Retired Convertible Notes on May 28, 2019 (the "Redemption Date") 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, the Redemption Date. The issuance of the Convertible Notes and the conversion of the Retired Convertible Notes, resulted in a $25.6 million recognition and a $34.2 million reversal of deferred tax liabilities within the additional paid-in capital as of December 31, 2019, respectively.

Prior to the Redemption Date, approximately $352.4 million principal amount of the Retired Convertible Notes were submitted for conversion. The Company elected to settle the conversion of such Retired Convertible Notes through a combination of cash and stock. The Company paid cash equal to $1,000 for each $1,000 principal amount of Retired Convertible Notes submitted for conversion and satisfied the remainder of the conversion obligation by issuing shares of the Company's Common Stock valued at $147.24 per share. As a result, the Company paid cash of $352.4 million and issued approximately 2.5 million shares of its Common Stock. In accordance with ASC 470, the Company recognized a loss of $9.8 million on the conversion and redemption for the year ended December 31, 2019, representing the difference between the fair value of the Retired Convertible Notes converted and the carrying value of the bonds at the time of conversion. The Company is using the remainder of the net proceeds from the issuance of the Convertible Notes to finance the further growth of the business.

Contractual interest expense for the Retired Convertible Notes was $1.5 million for the year ended December 31, 2019 and accretion expense was $4.6 million for the year ended December 31, 2019.

Contractual interest expense for the Convertible Notes was $3.9 million, $3.9 million, and $3.1 million for the years ended December 31, 2021, 2020 and 2019, respectively. Accretion expense was $16.0 million, $15.3 million and $11.6 million for the years ended December 31, 2021, 2020 and 2019, respectively. The effective interest rate was 4.4% for the year ended December 31, 2021. As of December 31, 2021, the unamortized discount was $56.8 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 mature on 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 December 31, 2021, the Company has outstanding €600 million ($682.1 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. As of December 31, 2021, the Company had $5.4 million of unamortized debt issuance costs related to the Senior Notes.

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 December 31, 2021 and 2020, borrowings under these arrangements were $0.9 million and $0.9 million, respectively. As of December 31, 2021, there was $0.8 million due in 2022 under these other obligation arrangements.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedges, Assets [Abstract]

Derivative Instruments and Hedging Activities

(12) Derivative Instruments and Hedging Activities

The Company is exposed to foreign currency exchange risk resulting from (i) the collection of funds or the settlement of money transfer transactions in currencies other than the U.S. dollar, (ii) derivative contracts written to its customers in connection with providing cross-currency money transfer services and (iii) certain foreign currency denominated other asset and liability positions. The Company enters into foreign currency derivative contracts, primarily foreign currency forwards and cross-currency swaps, to minimize its exposure related to fluctuations in foreign currency exchange rates. As a matter of Company policy, the derivative instruments used in these activities are economic hedges and are not designated as hedges under ASC 815, primarily due to either the relatively short duration of the contract term or the effects of fluctuations in currency exchange rates being reflected concurrently in earnings for both the derivative instrument and the transaction and have an offsetting effect.

Foreign currency exchange contracts - Ria Operations and Corporate

In the United States, the Company uses short-duration foreign currency forward contracts, generally with maturities up to 14 days, to offset the fluctuation in foreign currency exchange rates on the collection of money transfer funds between initiation of a transaction and its settlement. Due to the short duration of these contracts and the Company's credit profile, the Company is generally not required to post collateral with respect to these foreign currency forward contracts. Most derivative contracts executed with counterparties in the U.S. are governed by an International Swaps and Derivatives Association agreement that includes standard netting arrangements; therefore, asset and liability positions from forward contracts and all other foreign exchange transactions with the same counterparty are net settled upon maturity. As of December 31, 2021 and 2020, the Company had foreign currency forward contracts outstanding in the U.S. with a notional value of $222.1 million and $246.0 million, respectively. The foreign currency forward contracts consist primarily in Australian dollars, Canadian dollars, British pounds, euros and Mexican pesos.

In addition, the Company uses forward contracts, typically with maturities from a few days to less than one year, to offset foreign exchange rate fluctuations on certain short-term borrowings that are payable in currencies other than the U.S dollar. As of December 31, 2021 and 2020, the Company had foreign currency forward contracts outstanding with a notional value of $216.1 million and $454.3 million, respectively, primarily in euros.

Foreign currency exchange contracts - xe Operations

xe, writes derivative instruments, primarily foreign currency forward contracts and cross-currency swaps, mostly with counterparties comprised of individuals and small-to-medium size businesses and derives a currency margin from this activity as part of its operations. xe aggregates its foreign currency exposures arising from customer contracts and hedges the resulting net currency risks by entering into offsetting contracts with established financial institution counterparties. Foreign exchange revenues from xe's total portfolio of positions were $79.5 million, $68.2 million and $71.1 million for the years ended December 31, 2021, 2020 and 2019, respectively. All of the derivative contracts used in the Company' s xe operations are economic hedges and are not designated as hedges under ASC 815. The duration of these derivative contracts is generally less than one year.

The fair value of xe's total portfolio of positions can change significantly from period to period based on, among other factors, market movements and changes in customer contract positions. xe manages counterparty credit risk (the risk that counterparties will default and not make payments according to the terms of the agreements) on an individual counterparty basis. It mitigates this risk by entering into contracts with collateral posting requirements and/or by performing financial assessments prior to contract execution, conducting periodic evaluations of counterparty performance and maintaining a diverse portfolio of qualified counterparties. xe does not expect any significant losses from counterparty defaults.

The aggregate equivalent U.S. dollar notional amounts of foreign currency derivative customer contracts held by the Company in its xe operations as of December 31, 2021 and 2020, was approximately $1.0 billion and $1.3 billion, respectively. The significant majority of customer contracts are written in major currencies such as the euro, U.S. dollar, British pound, Australian dollar and New Zealand dollar.

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					Fair Value
(in thousands)	Balance Sheet Location	December 31, 2021		December 31, 2020		Balance Sheet Location	December 31, 2021			December 31, 2020
Derivatives not designated as hedging instruments
Foreign currency exchange contracts	Other current assets	$	27,582	$	80,879	Other current liabilities	$	(23,285	)	$	(65,905	)

Balance Sheet Presentation

The following tables summarize the gross and net fair value of derivative assets and liabilities as of December 31, 2021 and 2020 (in thousands):

Offsetting of Derivative Assets

							Gross Amounts Not Offset in the Consolidated Balance Sheet
As of December 31, 2021	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	$	27,582	$	—	$	27,582	$	(14,875	)	$	(2,284	)	$	10,423

As of December 31, 2020
Derivatives subject to a master netting arrangement or similar agreement	$	80,879	$	—	$	80,879	$	(44,893	)	$	(2,778	)	$	33,208

Offsetting of Derivative Liabilities

									Gross Amounts Not Offset in the Consolidated Balance Sheet
As of December 31, 2021	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	$	(23,285	)	$	—	$	(23,285	)	$	14,875	$	640	$	(7,770	)

As of December 31, 2020
Derivatives subject to a master netting arrangement or similar agreement	$	(65,905	)	$	—	$	(65,905	)	$	44,893	$	12,272	$	(8,740	)

Income Statement Presentation

The following tables summarize the location and amount of gains on derivatives in the Consolidated Statements of Operations for the years ended December 31, 2021, 2020 and 2019:

		Amount of Gain (Loss) Recognized in Income on Derivative Contracts (a)
	Location of Gain (Loss) Recognized in Income on Derivative Contracts	Year Ended December 31,
(in thousands)		2021		2020			2019
Foreign currency exchange contracts - Ria Operations	Foreign currency exchange gain (loss), net	$	1,618	$	(1,499	)	$	62

(a) The Company enters into derivative contracts such as foreign currency exchange forwards and cross-currency swaps as part of its xe operations. These derivative contracts are excluded from this table as they are part of the broader disclosure of foreign currency exchange revenues for this business discussed above.

See Note 18, Financial Instruments and Fair Value Measurements, for the determination of the fair values of derivatives.

Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

(13) 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: 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 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, the Company downsized, through the exercise of termination clauses and the reduction of monthly costs by renegotiating payment terms of its 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 was no longer able to conclude that termination options are reasonably certain not to be exercised. This reassessment conclusion impacted the lease term evaluation, instead of determining the lease term based on the stated lease payment schedule of the lease, the lease term was 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), which impacted the amounts recorded as right of use assets and lease liability balances. New, amended, and modified ATM site leases with termination options exercisable within 12 months will be excluded from the right of use lease asset and lease liability balances under the short-term lease exemption.

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 2021 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 the operating leases (with initial lease terms in excess of one year) as of December 31, 2021 are:

	As of December 31, 2021
Maturity of Lease Liabilities (in thousands)	Operating Leases (1)
2022	$	48,412
2023	37,368
2024	27,827
2025	19,172
2026	12,620
Thereafter	22,819
Total lease payments		168,218
Less: imputed interest	(4,727		)
Present value of lease liabilities	$	163,491

(1) Operating lease payments reflect the Company's current fixed obligations under the operating lease agreements.

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

Lease Expense (in thousands)	Income Statement Classification	Year ended December 31, 2021		Year ended December 31, 2020
Operating lease expense	Selling, general and administrative and Direct operating costs	$	55,613	$	83,102
Short-term and variable lease expense	Selling, general and administrative and Direct operating costs		115,963	69,711
Total lease expense		$	171,576	$	152,813

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 December 31, 2021
Weighted- average remaining lease term (years)		4.9
Weighted- average discount rate		2.24

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

Other Information (in thousands)	Year ended December 31, 2021		Year ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities (a)	$	51,464	$	79,447
Supplemental non-cash information on lease liabilities arising from obtaining ROU assets:
ROU assets obtained in exchange for new operating lease liabilities	$	69,073	$	77,728

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

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

(14) Income Taxes

The sources of income before income taxes for the years ended December 31, 2021, 2020 and 2019 are presented as follows:

	Year Ended December 31,
(in thousands)	2021			2020			2019
Income before taxes:
United States	$	(4,775	)	$	40,323		$	44,290
Foreign	140,450			(32,152		)	389,517
Total income before income taxes	$	135,675		$	8,171		$	433,807

The Company's income tax expense for the years ended December 31, 2021, 2020 and 2019 consisted of the following:

	Year Ended December 31,
(in thousands)	2021			2020			2019
Current tax expense (benefit):
U.S.	$	2,810		$	2,605		$	(4,885	)
Foreign	59,874			39,270			83,792
Total current	62,684			41,875			78,907
Deferred tax expense (benefit):
U.S.	12,269			(16,100		)	(8,424		)
Foreign	(9,865		)	(14,300		)	16,629
Total deferred	2,404			(30,400		)	8,205
Total tax expense	$	65,088		$	11,475		$	87,112

The following is a reconciliation of the federal statutory income tax rates of 21% to the effective income tax rate for the years ended December 31, 2021, 2020 and 2019:

	Year Ended December 31,
(dollar amounts in thousands)	2021			2020			2019
U.S. federal income tax expense at applicable statutory rate	$	28,492		$	1,716		$	91,099
Tax effect of:
State income tax expense at statutory rates, net of U.S. federal income tax	1,516			347			5,101
Non-deductible expenses	538			1,887			2,896
Share-based compensation	(3,524		)	(6,446		)	(2,875		)
Other permanent differences	(2,047		)	3,828			(864		)
Difference between U.S. federal and foreign tax rates	7,438			7,002			12,281
Provision in excess of statutory rates	2,879			(6,491)			3,565
Change in federal and foreign valuation allowance	26,673			(4,238)			2,144
Impairment of goodwill and acquired intangibles assets	—			22,053			—
GILTI, net of tax credits	3,900			—			6,471
U.S. Tax Reform - transition tax and rate change	—			—			(25,728		)
Tax credits	(1,122		)	(3,518		)	(4,500		)
Other	345			(4,665		)	(2,478		)
Total income tax expense	$	65,088		$	11,475		$	87,112
Effective tax rate	48.0		%	140.4		%	20.1		%

We calculate our provision for federal, state and international income taxes based on current tax law. In the fourth quarter of 2019 after additional regulatory guidance was issued by applicable taxing authorities relating to the U.S. Tax Reform, the Company elected to claim U.S. foreign tax credits, which reduced the net tax expense by $25.7 million.

The tax effect of temporary differences and carryforwards that give rise to deferred tax assets and liabilities from continuing operations are as follows:

	As of December 31,
(in thousands)	2021			2020
Deferred tax assets:
Tax loss carryforwards	$	65,862		$	45,609
Share-based compensation	9,743			6,771
Accrued expenses	19,907			22,243
Property and equipment	11,949			10,835
Goodwill and intangible amortization	9,353			7,614
Contract costs	9,921			—
Intercompany notes	6,077			7,689
Accrued revenue	7,541			34,663
Tax credits	65,267			65,388
Lease accounting	42,381			39,962
Foreign exchange	8,283			19,160
Other	14,616			14,230
Gross deferred tax assets	270,900			274,164
Valuation allowance	(100,489		)	(77,563		)
Net deferred tax assets	170,411			196,601
Deferred tax liabilities:
Intangible assets related to purchase accounting	(11,763		)	(12,854		)
Goodwill and intangible amortization	(30,339		)	(24,763		)
Accrued expenses	(21,495		)	(43,971		)
Intercompany notes	(10,388		)	(10,396		)
Accrued interest	(34,175		)	(30,932		)
Capitalized research and development	(6,376		)	(6,352		)
Property and equipment	(15,597		)	(18,295		)
Accrued revenue	(2,073		)	(1,829		)
Lease accounting	(42,381		)	(39,962		)
Foreign exchange	(1,211		)	(10,880		)
Other	(3,971		)	(6,826		)
Total deferred tax liabilities	(179,769		)	(207,060		)
Net deferred tax liabilities	$	(9,358	)	$	(10,459	)

Net deferred tax assets of $37.7 million and $27.4 million as of December 31, 2021 and 2020, respectively, are recorded within "Other assets" on the Consolidated Balance Sheet.

Subsequently recognized tax benefits relating to the valuation allowance for deferred tax assets as of December 31, 2021 are expected to be allocated to income taxes in the Consolidated Statements of Operations.

As of December 31, 2021, and 2020, the Company's foreign tax loss carryforwards were $267.3 million and $197.4 million, respectively, and U.S. state tax loss carryforwards were $73.7 million and $95.8 million, respectively. As of December 31, 2021, the Company had U.S. foreign tax credit carryforwards of $61.6 million which are largely not expected to be utilized in future periods.

In assessing the Company's ability to realize deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not the Company will realize the benefits of these deductible differences, net of the existing valuation allowances, as of December 31, 2021.

As of December 31, 2021, the Company had foreign tax net operating loss carryforwards of $267.3 million, which will expire as follows:

(in thousands)	Gross		Tax Effected
Year ending December 31,
2022	$	3,960	$	749
2023	2,296		533
2024	3,153		711
2025	21,012		4,664
2026	21,767		4,843
Thereafter	25,465		6,501
Unlimited	189,670		45,792
Total	$	267,323	$	63,793

In addition, the Company's state tax net operating loss carryforwards of $73.7 million will expire periodically from 2022 through 2041, U.S. foreign tax credit carryforwards of $61.6 million that will expire periodically from 2022 through 2030 and U.S. federal research and expenditure credit carryforwards of $3.3 million that will expire periodically from 2034 through 2038.

While U.S. tax expense has been recognized as a result of the transition tax and global intangible low-taxed income, or GILTI, provisions of U.S. Tax Reform, the Company has not provided additional deferred taxes with respect to items such as certain foreign exchange gains or losses, foreign withholding taxes or additional state taxes, if any, on undistributed earnings attributable to foreign subsidiaries and it is not practical to determine the income tax liability that would be payable if such earnings were not reinvested indefinitely. Gross undistributed earnings reinvested indefinitely in foreign subsidiaries aggregated approximately $1,808.8 million as of December 31, 2021.

Accounting for uncertainty in income taxes

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2021 and 2020 is as follows:

	Year Ended December 31,
(in thousands)	2021			2020
Beginning balance	$	39,785		$	44,535
Additions based on tax positions related to the current year	3,815			7,331
Additions for tax positions of prior years	—			—
Reductions for tax positions of prior years	(1,998		)	(1,349		)
Settlements	—			(10,127		)
Statute of limitations expiration	(612		)	(605		)
Ending balance	$	40,990		$	39,785

As of December 31, 2021 and 2020, approximately $29.1 million and $31.8 million, respectively, of the unrecognized tax benefits would impact the Company's provision for income taxes and effective income tax rate, if recognized. Total estimated accrued interest and penalties related to the underpayment of income taxes was $7.2 million and $6.2 million as of December 31, 2021 and 2020, respectively. The following income tax years remain open in the Company's major jurisdictions as of December 31, 2021:

Jurisdictions	Periods
U.S. (Federal)	2014 through 2021
Germany	2016 through 2021
Greece	2013 through 2021
Spain	2015 through 2021
U.K.	2018 through 2021

It is reasonably possible that the balance of gross unrecognized tax benefits could significantly change within the next twelve months as a result of the resolution of audit examinations and expirations of certain statutes of limitations and, accordingly, materially affect the Company's operating results. At this time, it is not possible to estimate the range of change due to the uncertainty of potential outcomes.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2021

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts

(15) Valuation and Qualifying Accounts

Trade accounts receivable and accounts receivable balances included within the settlement assets are stated net of credit losses. Historically, the Company has not experienced significant write-offs. The Company records credit losses when it is probable that the accounts receivable balance will not be collected.

The following table provides a summary of the credit loss balances and activity for the years ended December 31, 2021, 2020 and 2019:

	Year Ended December 31,
(in thousands)	2021			2020			2019
Beginning balance-credit losses	$	41,727		$	27,938		$	24,287
Additions-charged to expense	9,721			19,469			10,095
Amounts written off	(21,662		)	(7,842		)	(6,179		)
Other (primarily changes in foreign currency exchange rates)	2,024			2,162			(265		)
Ending balance-credit losses	$	31,810		$	41,727		$	27,938

Stock Plans

12 Months Ended

Dec. 31, 2021

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Plans

(16) Stock Plans

The Company has share-based compensation plans ("SCP") that allow it to grant restricted shares, or options to purchase shares, of common stock to certain current and prospective key employees, directors and consultants of the Company. These awards generally vest over periods ranging from three to five years from the date of grant. Stock options are generally exercisable during the shorter of a ten-year term or the term of employment with the Company. With the exception of certain awards made to the Company's employees in Germany, Singapore and Malaysia, awards under the SCP are settled through the issuance of new shares under the provisions of the SCP. For Company employees in Germany, Singapore and Malaysia, certain awards are settled through the issuance of treasury shares, which also reduces the number of shares available for future issuance under the SCP. As of December 31, 2021, the Company has approximately 5.6 million in total shares remaining available for issuance under the SCP.

Share-based compensation expense was $36.5 million, $22.0 million and $21.4 million for the years ended December 31, 2021, 2020 and 2019, respectively, and was recorded in salaries and benefits expense in the accompanying Consolidated Statements of Operations. The Company recorded a tax benefit of $4.1 million, $2.1 million and $4.9 million during the years ended December 31, 2021, 2020 and 2019, respectively, for the portion of this expense that relates to foreign tax jurisdictions in which an income tax benefit is expected to be derived.

Stock options

Summary stock options activity is presented in the table below:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (thousands)
Balance at December 31, 2020 (1,497,567 shares exercisable)	4,091,293		$	94.88
Granted	532,979		$	116.55
Exercised	(296,363	)	$	26.41
Forfeited/Canceled	(17,831	)	$	119.80
Expired	(877	)	$	16.39
Balance at December 31, 2021	4,309,201		$	102.19	7.2	$	97,425
Exercisable at December 31, 2021	1,466,983		$	78.19	4.5	$	65,770
Vested and expected to vest at December 31, 2021	1,963,940		$	90.29	5.5	$	68,162

Options outstanding that are expected to vest are net of estimated future forfeitures. The Company received cash of $7.8 million, $15.8 million and $13.1 million in connection with stock options exercised in the years ended December 31, 2021, 2020 and 2019, respectively. The intrinsic value of these options exercised was $27.7 million, $41.1 million and $30.6 million in the years ended December 31, 2021, 2020 and 2019, respectively. As of December 31, 2021, unrecognized compensation expense related to nonvested stock options that are expected to vest totaled $58.5 million and will be recognized over the next 4 years, with an overall weighted-average period of 2.6 years. The following table provides the fair value of options granted under the SCP during 2021, 2020 and 2019, together with a description of the assumptions used to calculate the fair value using the Black-Scholes-Merton option-pricing model:

	Year ended December 31,
	2021			2020			2019
Volatility	39.3		%	35.6		%	29.3		%
Risk-free interest rate - weighted average	1.2		%	0.6		%	2.1		%
Risk-free interest rate - range	0.5% to 1.21		%	0.31% to 1.17		%	(a)
Dividend yield	—		%	—		%	—		%
Assumed forfeitures	8.0		%	8.0		%	8.0		%
Expected lives	4.6 years			7.1 years			5.2 years
Weighted-average fair value (per share)	$	39.99		$	48.21		$	43.96

(a) At the date of grant, the risk fee rate for stock options awarded in 2019 was 1.7%.

During 2021, the Company granted approximately 331,000 options that were valued using a Monte Carlo simulation (not included in the table above). The Monte Carlo simulation calculated a fair value per option of $40.30 using the following assumptions: volatility of 40.0%, risk-free interest rate of 1.19%, and a term of 4.5 years. During 2020, the Company granted 1,350,000 options that were valued using a Monte Carlo simulation (not included in the table above). The Monte Carlo simulation calculated a fair value per option of $26.90 using the following assumptions: volatility of 37.0%, risk-free interest rate of 0.33%, and a term of 5.0 years.

Restricted stock

Restricted stock awards vest based on the achievement of time-based service conditions and/or performance-based conditions. For certain awards, vesting is based on the achievement of more than one condition of an award with multiple time-based and/or performance-based conditions.

Summary restricted stock activity is presented in the table below:

	Number of Shares		Weighted Average Grant Date Fair Value Per Share
Nonvested at December 31, 2020	485,510		$	126.62
Granted	191,184		$	117.35
Vested	(107,700	)	$	115.85
Forfeited	(33,890	)	$	98.18
Nonvested at December 31, 2021	535,104		$	127.96

The fair value of shares vested in the years ended December 31, 2021, 2020 and 2019 was $13.8 million, $15.4 million and $16.6 million, respectively. As of December 31, 2021, there was $17.3 million of total unrecognized compensation cost related to unvested time-based restricted stock, which is expected to be recognized over a weighted-average period of 3.0 years. As of December 31, 2021, there was $16.8 million of total unrecognized compensation costs related to unvested performance-based restricted stock, which is expected to be recognized based on Company performance over a weighted-average period of 2.0 years. The weighted average grant date fair value of restricted stock granted during the years ended December 31, 2021, 2020 and 2019 was $115.85, $117.97 and $145.93 per share, respectively.

Business Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Business Segment Information

(17) Business 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:

1) Through the EFT Processing Segment, the Company processes transactions for a network of ATMs and POS terminals across Europe, the Middle East, Africa, 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, debit and prepaid 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.

3) Through the Money Transfer Segment, the Company provides global money transfer services under the brand names Ria, AFEX, IME, and xe. Ria, AFEX, 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 years ended December 31, 2021, 2020 and 2019:

	For the Year Ended December 31, 2021
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other		Consolidated
Total revenues	$	591,138	$	1,011,482	$	1,400,957	$	(8,134)	$	2,995,443
Operating expenses:
Direct operating costs	354,254		760,891		793,218		(8,096)		1,900,267
Acquired contract cost impairment	—		—		38,634		—		38,634
Salaries and benefits	98,584		79,451		255,816		50,988		484,839
Selling, general and administrative	47,832		39,602		157,955		6,544		251,933
Depreciation and amortization	90,969		8,501		35,739		545		135,754
Total operating expenses	591,639		888,445		1,281,362		49,981		2,811,427
Operating income (expense)	$	(501)	$	123,037	$	119,595	$	(58,115)	$	184,016
Other income (expense)
Interest income									664
Interest expense									(38,198)
Foreign currency exchange loss, net									(10,866)
Other gains, net									59
Total other expense, net									(48,341)
Income before income taxes									$	135,675
Segment assets as of December 31, 2021	$	1,682,680	$	1,234,074	$	1,621,726	$	205,796	$	4,744,276

	For the Year Ended December 31, 2020
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	468,726	$	835,517	$	1,183,849	$	(5,392	)	$	2,482,700
Operating expenses:
Direct operating costs	302,637		630,391		649,033		(5,362		)	1,576,699
Salaries and benefits	91,526		64,769		213,511		34,336			404,142
Selling, general and administrative	35,388		35,789		142,161		8,276			221,614
Goodwill and acquired intangible assets impairment	21,861		—		84,741		—			106,602
Depreciation and amortization	84,025		7,890		34,694		412			127,021
Total operating expenses	535,437		738,839		1,124,140		37,662			2,436,078
Operating income (expense)	$	(66,711)	$	96,678	$	59,709	$	(43,054	)	$	46,622
Other income (expense)
Interest income										1,040
Interest expense										(36,604		)
Foreign currency exchange gain, net										(3,756)
Other gains, net										869
Total other expense, net										(38,451		)
Income before income taxes										$	8,171
Segment assets as of December 31, 2020	$	1,541,610	$	1,135,204	$	1,755,651	$	494,246		$	4,926,711

	For the Year Ended December 31, 2019
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	888,712	$	769,329	$	1,096,226	$	(4,158	)	$	2,750,109
Operating expenses:
Direct operating costs	397,132		576,757		586,730		(4,136		)	1,556,483
Salaries and benefits	87,603		61,540		208,792		36,809			394,744
Selling, general and administrative	35,518		35,054		133,068		8,304			211,944
Depreciation and amortization	71,819		6,774		32,846		305			111,744
Total operating expenses	592,072		680,125		961,436		41,282			2,274,915
Operating income (expense)	$	296,640	$	89,204	$	134,790	$	(45,440	)	$	475,194
Other income (expense)
Interest income										1,969
Interest expense										(36,237		)
Foreign currency exchange loss, net										2,701
Other gains, net										(9,820)
Total other expense, net										(41,387		)
Income before income taxes										$	433,807
Segment assets as of December 31, 2019	$	1,914,144	$	962,671	$	1,560,136	$	220,715		$	4,657,666

Total revenues for the years ended December 31, 2021, 2020 and 2019, and property and equipment and total assets as of December 31, 2021 and 2020, summarized by geographic location, were as follows:

	Revenues						Property and Equipment, net				Total Assets
	For the year ended December 31,						as of December 31,				as of December 31,
(in thousands)	2021		2020		2019		2021		2020		2021		2020
United States	$	805,028	$	725,135	$	716,576	$	59,469	$	55,573	$	1,040,190	$	1,255,983
Germany	631,550		533,999		518,146		32,126		38,808		901,724		797,627
Spain	157,766		118,934		189,104		50,321		61,563		317,199		291,254
United Kingdom	143,914		118,024		135,006		13,783		20,150		371,090		402,587
Italy	130,095		92,006		130,929		18,279		21,225		207,347		231,548
Poland	93,654		89,688		130,104		24,091		33,087		201,506		206,016
India	173,154		123,343		113,146		32,705		26,126		206,378		182,073
France	166,655		119,265		94,352		7,038		2,731		134,981		112,335
Greece	61,627		39,705		79,716		10,815		13,252		80,778		78,439
Malaysia	50,039		73,541		74,948		1,998		2,319		91,813		115,448
Australia	46,851		46,062		51,686		2,791		1,575		56,275		68,577
New Zealand	56,480		47,368		47,611		3,949		3,772		231,468		254,580
Other	478,630		355,630		468,785		88,016		98,260		903,527		930,244
Total foreign	2,190,415		1,757,565		2,033,533		285,912		322,868		3,704,086		3,670,728
Total	$	2,995,443	$	2,482,700	$	2,750,109	$	345,381	$	378,441	$	4,744,276	$	4,926,711

Revenues are attributed to countries based on location of the customer, with the exception of software sales made by the Company's software subsidiary, which are attributed to the U.S.

- 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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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

Financial Instruments and Fair Value Measurements

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Financial Instruments and Fair Value Measurements

(18) Financial Instruments and Fair Value Measurements

Concentrations of credit risk

The Company's credit risk primarily relates to trade accounts receivable and cash and cash equivalents. The EFT Processing Segment's customer base includes the most significant international card organizations and certain banks in its markets. The epay Segment's customer base is diverse and includes several major retailers and/or distributors in markets that they operate. The Money Transfer Segment trade accounts receivable are primarily due from independent agents that collect cash from customers on the Company's behalf and generally remit the cash within one week. The Company performs ongoing evaluations of its customers' financial condition and limits the amount of credit extended, or purchases credit enhancement protection, when deemed necessary, but generally requires no collateral. See Note 15, Valuation and Qualifying Accounts, for further disclosure.

The Company invests excess cash not required for use in operations primarily in high credit quality, short-term duration securities that the Company believes bear minimal risk.

Fair value measurements

Fair value measurements used in the 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 measured and recorded at fair value on a recurring basis:

		As of December 31, 2021
(in thousands)	Balance Sheet Classification	Level 1			Level 2			Level 3		Total
Assets
Foreign currency exchange contracts	Other current assets	$	—	$	27,582			$	—	$	27,582
Liabilities
Foreign currency exchange contracts	Other current liabilities	$	—	$	(23,285		)	$	—	$	(23,285	)

		As of December 31, 2020
(in thousands)	Balance Sheet Classification	Level 1			Level 2			Level 3		Total
Assets
Foreign currency exchange contracts	Other current assets	$	—		$	80,879		$	—	$	80,879
Liabilities
Foreign currency exchange contracts	Other current liabilities	$	—		$	(65,905	)	$	—	$	(65,905	)

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 and Senior Notes using quoted prices in inactive markets for identical liabilities (Level 2). As of December 31, 2021, the fair values of the Convertible Notes and Senior Notes were $589.3 million and $696.1 million, respectively, with carrying values of $468.2 million and $682.1 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

Litigation and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Litigation and Contingencies

(19) Litigation and Contingencies

From time to time, the Company is a party to legal and 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 upon the Consolidated Financial Statements of the Company. 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.

Commitments

12 Months Ended

Dec. 31, 2021

Guarantees [Abstract]

Commitments

(20) Commitments

As of December 31, 2021, the Company had $84.2 million of stand-by letters of credit/bank guarantees issued on its behalf, of which $3.7 million are collateralized by cash deposits held by the respective issuing banks.

Under certain circumstances, the Company grants guarantees in support of obligations of subsidiaries. As of December 31, 2021, the Company granted off balance sheet guarantees for cash in various ATM networks amounting to $11.4 million over the terms of the cash supply agreements and performance guarantees amounting to approximately $51.7 million over the terms of the 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 that, generally, is not recorded on the Company's Consolidated Balance Sheets. As of December 31, 2021, the balance of such cash used in the Company's ATM networks for which the Company was responsible was approximately $558.1 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 December 31, 2021 or 2020.

Related Party Transactions

12 Months Ended

Dec. 31, 2021

(21) Related Party Transactions

The Company leases an airplane from a company owned by Mr. Michael J. Brown, Euronet's Chief Executive Officer, President and Chairman of the Board of Directors. The airplane is leased for business use on a per flight hour basis at competitive commercial rates with no minimum usage requirement. Euronet incurred expenses of $0.1 million, $0.1 million and $0.3 million during the years ended December 31, 2021, 2020 and 2019, respectively, for the use of this airplane.

Summary of Significant Accounting Policies and Practices (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Foreign currencies

Cash equivalents

ATM cash

ATM cash represents cash within the ATM network either included within ATMs, within dedicated accounts, or in-transit to ATMs.

Settlement assets and obligations

Property and equipment

Property and equipment are stated at cost, less accumulated depreciation. Property and equipment acquired in acquisitions have been recorded at estimated fair values as of the acquisition date.

Depreciation is generally calculated using the straight-line method over the estimated useful lives of the respective assets.

Depreciation and amortization rates are generally as follows:

ATMs or ATM upgrades	5 - 7 years
Computers and software	3 - 5 years
POS terminals	3 - 5 years
Vehicles and office equipment	3 - 10 years
Leasehold improvements	Over the lesser of the lease term or estimated useful life

Goodwill and other intangible assets

Non-compete agreements	2 - 5 years
Trademarks and trade names	2 - 20 years
Software	3 - 10 years
Customer relationships	6 - 20 years

See Note 9, Goodwill and Acquired Intangible Assets, Net, to the Consolidated Financial Statements for additional information regarding the impairment of goodwill and other intangible assets.

Other assets

Convertible notes

Income taxes

Presentation of taxes collected and remitted to governmental authorities

The Company presents taxes collected and remitted to governmental authorities on a net basis in the accompanying Consolidated Statements of Operations.

Fair value measurements

Accounting for derivative instruments and hedging activities

Share-based compensation

Revenue recognition

Revenues

	For the Year Ended December 31, 2021
(in thousands)	EFT Processing		epay		Money Transfer		Total
Europe	$	420,181	$	669,297	$	576,640	$	1,666,118
North America	63,368		139,759		667,738		870,865
Asia Pacific	107,020		158,122		105,086		370,228
Other	569		44,304		51,493		96,366
Eliminations	—		—		—		(8,134)
Total	$	591,138	$	1,011,482	$	1,400,957	$	2,995,443

	For the Year Ended December 31, 2020
(in thousands)	EFT Processing		epay		Money Transfer		Total
Europe	$	313,953	$	561,514	$	449,299	$	1,324,766
North America	56,447		144,613		577,845		778,905
Asia Pacific	98,313		100,917		124,413		323,643
Other	13		28,473		32,292		60,778
Eliminations	—		—		—		(5,392		)
Total	$	468,726	$	835,517	$	1,183,849	$	2,482,700

	For the Year Ended December 31, 2019
(in thousands)	EFT Processing		epay		Money Transfer		Total
Europe	$	724,163	$	524,907	$	373,302	$	1,622,372
North America	35,461		151,016		573,016		759,493
Asia Pacific	129,060		76,491		124,934		330,485
Other	28		16,915		24,974		41,917
Eliminations	—		—		—		(4,158		)
Total	$	888,712	$	769,329	$	1,096,226	$	2,750,109

Recently issued accounting pronouncements

Summary of Significant Accounting Policies and Practices (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of depreciation and amortization rates

ATMs or ATM upgrades	5 - 7 years
Computers and software	3 - 5 years
POS terminals	3 - 5 years
Vehicles and office equipment	3 - 10 years
Leasehold improvements	Over the lesser of the lease term or estimated useful life

Schedule of other intangible assets

Non-compete agreements	2 - 5 years
Trademarks and trade names	2 - 20 years
Software	3 - 10 years
Customer relationships	6 - 20 years

Schedule of revenues by segment by region

	For the Year Ended December 31, 2021
(in thousands)	EFT Processing		epay		Money Transfer		Total
Europe	$	420,181	$	669,297	$	576,640	$	1,666,118
North America	63,368		139,759		667,738		870,865
Asia Pacific	107,020		158,122		105,086		370,228
Other	569		44,304		51,493		96,366
Eliminations	—		—		—		(8,134)
Total	$	591,138	$	1,011,482	$	1,400,957	$	2,995,443

	For the Year Ended December 31, 2020
(in thousands)	EFT Processing		epay		Money Transfer		Total
Europe	$	313,953	$	561,514	$	449,299	$	1,324,766
North America	56,447		144,613		577,845		778,905
Asia Pacific	98,313		100,917		124,413		323,643
Other	13		28,473		32,292		60,778
Eliminations	—		—		—		(5,392		)
Total	$	468,726	$	835,517	$	1,183,849	$	2,482,700

	For the Year Ended December 31, 2019
(in thousands)	EFT Processing		epay		Money Transfer		Total
Europe	$	724,163	$	524,907	$	373,302	$	1,622,372
North America	35,461		151,016		573,016		759,493
Asia Pacific	129,060		76,491		124,934		330,485
Other	28		16,915		24,974		41,917
Eliminations	—		—		—		(4,158		)
Total	$	888,712	$	769,329	$	1,096,226	$	2,750,109

Settlement Assets and Obligations (Tables)

12 Months Ended

Dec. 31, 2021

Settlement Assets [Abstract]

Schedule of settlement assets and liabilities

(in thousands)	As of December 31, 2021		As of December 31, 2020
Settlement assets:
Settlement cash and cash equivalents	$	203,624	$	188,191
Settlement restricted cash	74,897		76,674
Account receivables, net of credit loss allowance of $27,341 and $35,800	619,738		641,955
Prepaid expenses and other current assets	204,130		234,055
Total settlement assets	$	1,102,389	$	1,140,875
Settlement obligations:
Trade account payables	$	461,135	$	571,175
Accrued expenses and other current liabilities	641,254		569,700
Total settlement obligations	$	1,102,389	$	1,140,875

Schedule of cash and cash equivalents restricted cash

	As of
(in thousands)	December 31, 2021		December 31, 2020		December 31, 2019
Cash and cash equivalents	$	1,260,466	$	1,420,255	$	786,081
Restricted cash	3,693		3,334		34,301
ATM cash	543,422		411,054		665,641
Settlement cash and cash equivalents	203,624		188,191		282,188
Settlement restricted cash	74,897		76,674		49,168
Cash and cash equivalents and restricted cash at end of period	$	2,086,102	$	2,099,508	$	1,817,379

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

Schedule of weighted average number of common shares outstanding

	Year Ended December 31,
	2021	2020	2019
Computation of diluted weighted average shares outstanding:
Basic weighted average shares outstanding	52,585,674	52,659,551	53,449,834
Incremental shares from assumed exercise of stock options and vesting of restricted stock	943,902	—	1,464,053
Diluted weighted average shares outstanding	53,529,576	52,659,551	54,913,887

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Acquisitions [Abstract]

Schedule of fair values of the assets acquired and liabilities

(in thousands)	As of November 30, 2019
Cash and cash equivalents	$	5,325
Trade accounts receivable	2,167
Other current assets	798
Property and equipment	16,542
Intangible assets	39,000
Total assets acquired	$	63,832

Trade accounts payable	$	(6,790	)
Accrued expenses and other current liabilities	(80		)
Total liabilities assumed	$	(6,870	)

Goodwill	35,540

Net assets acquired	$	92,502

Restricted Cash (Tables)

12 Months Ended

Dec. 31, 2021

Restricted Cash [Abstract]

Schedule of restricted cash balances

	As of December 31,
(in thousands)	2021		2020
Cash held in trust and/or cash held on behalf of others	$	3,693	$	3,334
Restricted cash	$	3,693	$	3,334

Cash held in trust and/or cash held on behalf of others	$	62,077	$	64,489
Collateral on bank credit arrangements and other	12,820		12,185
Restricted cash included within settlement assets	$	74,897	$	76,674

Total Restricted Cash	$	78,590	$	80,008

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2021

Property and Equipment, Net [Abstract]

Schedule of property and equipment, net of accumulated depreciation and amortization

	As of December 31,
(in thousands)	2021			2020
ATMs	$	560,310		$	554,508
POS terminals	31,321			33,258
Vehicles and office equipment	75,331			75,936
Computers and software	210,363			203,883
Land and buildings	687			1,285
	878,012			868,870
Less accumulated depreciation	(532,631		)	(490,429		)
Total	$	345,381		$	378,441

Goodwill and Acquired Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Acquired Intangible Assets Net [Abstract]

Schedule of intangible assets

	As of December 31, 2021					As of December 31, 2020
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Customer relationships	$	176,024	$	(103,713	)	$	186,749	$	(99,131	)
Trademarks and trade names	45,445		(32,596		)	46,762		(31,327		)
Software	60,118		(47,485		)	61,602		(42,772		)
Non-compete agreements	1,260		(1,260		)	1,980		(1,980		)
Total	$	282,847	$	(185,054	)	$	297,093	$	(175,210	)

Schedule of goodwill and amortizable intangible assets

(in thousands)	Acquired Intangible Assets			Goodwill			Total Intangible Assets
Balance as of January 1, 2020	$	141,847		$	743,823		$	885,670
Increases (decreases):
Acquisitions (see footnote 6)	1,575			(265)			1,310
Impairment	(2,048)			(104,554		)	(106,602)
Amortization	(22,867		)	—			(22,867		)
Other (primarily changes in foreign currency exchange rates)	3,376			26,817			30,193
Balance as of December 31, 2020	121,883			665,821			787,704
Increases (decreases):
Amortization	(23,059		)	—			(23,059		)
Other (primarily changes in foreign currency exchange rates)	(1,031		)	(24,216		)	(25,247		)
Balance as of December 31, 2021	$	97,793		$	641,605		$	739,398

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Accrued Expenses and Other Current Liabilities [Abstract]

Schedule of accrued expenses and other current liabilities

	As of December 31,
(in thousands)	2021		2020
Accrued expenses	$	285,098	$	288,996
Derivative liabilities	23,285		65,905
Accrued payroll expenses	55,162		42,717
Current portion of finance lease obligations	4,147		6,403
Total	$	367,692	$	404,021

Debt Obligations (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of debt obligations

	As of December 31,
(in thousands)	2021			2020
Credit Facility:
Revolving credit agreement	$	283,400		$	270,400
Convertible Debt:
0.75% convertible notes, unsecured, due 2049	468,235			452,228

1.375% Senior Notes, due 2026	682,080			732,840

Other obligations	920			850

Total debt obligations	$	1,434,635		$	1,456,318
Unamortized debt issuance costs	(13,729		)	(17,932		)
Carrying value of debt	$	1,420,906		$	1,438,386
Short-term debt obligations and current maturities of long-term debt obligations	(821		)	(797		)
Long-term debt obligations	$	1,420,085		$	1,437,589

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities [Abstract]

Schedule of derivative instruments in statement of financial position fair value

	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
(in thousands)	Balance Sheet Location	December 31, 2021		December 31, 2020		Balance Sheet Location	December 31, 2021			December 31, 2020
Derivatives not designated as hedging instruments
Foreign currency exchange contracts	Other current assets	$	27,582	$	80,879	Other current liabilities	$	(23,285	)	$	(65,905	)

Schedule of offsetting assets and liabilities

Offsetting of Derivative Assets

							Gross Amounts Not Offset in the Consolidated Balance Sheet
As of December 31, 2021	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	$	27,582	$	—	$	27,582	$	(14,875	)	$	(2,284	)	$	10,423

As of December 31, 2020
Derivatives subject to a master netting arrangement or similar agreement	$	80,879	$	—	$	80,879	$	(44,893	)	$	(2,778	)	$	33,208

Offsetting of Derivative Liabilities

									Gross Amounts Not Offset in the Consolidated Balance Sheet
As of December 31, 2021	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	$	(23,285	)	$	—	$	(23,285	)	$	14,875	$	640	$	(7,770	)

As of December 31, 2020
Derivatives subject to a master netting arrangement or similar agreement	$	(65,905	)	$	—	$	(65,905	)	$	44,893	$	12,272	$	(8,740	)

Schedule of derivative instruments gain (loss)

		Amount of Gain (Loss) Recognized in Income on Derivative Contracts (a)
	Location of Gain (Loss) Recognized in Income on Derivative Contracts	Year Ended December 31,
(in thousands)		2021		2020			2019
Foreign currency exchange contracts - Ria Operations	Foreign currency exchange gain (loss), net	$	1,618	$	(1,499	)	$	62

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Schedule of future minimum lease payments

	As of December 31, 2021
Maturity of Lease Liabilities (in thousands)	Operating Leases (1)
2022	$	48,412
2023	37,368
2024	27,827
2025	19,172
2026	12,620
Thereafter	22,819
Total lease payments		168,218
Less: imputed interest	(4,727		)
Present value of lease liabilities	$	163,491

Schedule of lease expense recognized in consolidated statements of income

Lease Expense (in thousands)	Income Statement Classification	Year ended December 31, 2021		Year ended December 31, 2020
Operating lease expense	Selling, general and administrative and Direct operating costs	$	55,613	$	83,102
Short-term and variable lease expense	Selling, general and administrative and Direct operating costs		115,963	69,711
Total lease expense		$	171,576	$	152,813

Schedule of other information about lease amounts recognized in consolidated financial statements

Lease Term and Discount Rate of Operating Leases		As of December 31, 2021
Weighted- average remaining lease term (years)		4.9
Weighted- average discount rate		2.24

Schedule of supplemental cash flow and non-cash information related to leases

Other Information (in thousands)	Year ended December 31, 2021		Year ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities (a)	$	51,464	$	79,447
Supplemental non-cash information on lease liabilities arising from obtaining ROU assets:
ROU assets obtained in exchange for new operating lease liabilities	$	69,073	$	77,728

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of income before income tax domestic and foreign

	Year Ended December 31,
(in thousands)	2021			2020			2019
Income before taxes:
United States	$	(4,775	)	$	40,323		$	44,290
Foreign	140,450			(32,152		)	389,517
Total income before income taxes	$	135,675		$	8,171		$	433,807

Schedule of components of income tax expense (benefit)

	Year Ended December 31,
(in thousands)	2021			2020			2019
Current tax expense (benefit):
U.S.	$	2,810		$	2,605		$	(4,885	)
Foreign	59,874			39,270			83,792
Total current	62,684			41,875			78,907
Deferred tax expense (benefit):
U.S.	12,269			(16,100		)	(8,424		)
Foreign	(9,865		)	(14,300		)	16,629
Total deferred	2,404			(30,400		)	8,205
Total tax expense	$	65,088		$	11,475		$	87,112

Schedule of effective income tax rate reconciliation

	Year Ended December 31,
(dollar amounts in thousands)	2021			2020			2019
U.S. federal income tax expense at applicable statutory rate	$	28,492		$	1,716		$	91,099
Tax effect of:
State income tax expense at statutory rates, net of U.S. federal income tax	1,516			347			5,101
Non-deductible expenses	538			1,887			2,896
Share-based compensation	(3,524		)	(6,446		)	(2,875		)
Other permanent differences	(2,047		)	3,828			(864		)
Difference between U.S. federal and foreign tax rates	7,438			7,002			12,281
Provision in excess of statutory rates	2,879			(6,491)			3,565
Change in federal and foreign valuation allowance	26,673			(4,238)			2,144
Impairment of goodwill and acquired intangibles assets	—			22,053			—
GILTI, net of tax credits	3,900			—			6,471
U.S. Tax Reform - transition tax and rate change	—			—			(25,728		)
Tax credits	(1,122		)	(3,518		)	(4,500		)
Other	345			(4,665		)	(2,478		)
Total income tax expense	$	65,088		$	11,475		$	87,112
Effective tax rate	48.0		%	140.4		%	20.1		%

Schedule of deferred tax assets and liabilities

	As of December 31,
(in thousands)	2021			2020
Deferred tax assets:
Tax loss carryforwards	$	65,862		$	45,609
Share-based compensation	9,743			6,771
Accrued expenses	19,907			22,243
Property and equipment	11,949			10,835
Goodwill and intangible amortization	9,353			7,614
Contract costs	9,921			—
Intercompany notes	6,077			7,689
Accrued revenue	7,541			34,663
Tax credits	65,267			65,388
Lease accounting	42,381			39,962
Foreign exchange	8,283			19,160
Other	14,616			14,230
Gross deferred tax assets	270,900			274,164
Valuation allowance	(100,489		)	(77,563		)
Net deferred tax assets	170,411			196,601
Deferred tax liabilities:
Intangible assets related to purchase accounting	(11,763		)	(12,854		)
Goodwill and intangible amortization	(30,339		)	(24,763		)
Accrued expenses	(21,495		)	(43,971		)
Intercompany notes	(10,388		)	(10,396		)
Accrued interest	(34,175		)	(30,932		)
Capitalized research and development	(6,376		)	(6,352		)
Property and equipment	(15,597		)	(18,295		)
Accrued revenue	(2,073		)	(1,829		)
Lease accounting	(42,381		)	(39,962		)
Foreign exchange	(1,211		)	(10,880		)
Other	(3,971		)	(6,826		)
Total deferred tax liabilities	(179,769		)	(207,060		)
Net deferred tax liabilities	$	(9,358	)	$	(10,459	)

Summary of operating loss carryforwards

(in thousands)	Gross		Tax Effected
Year ending December 31,
2022	$	3,960	$	749
2023	2,296		533
2024	3,153		711
2025	21,012		4,664
2026	21,767		4,843
Thereafter	25,465		6,501
Unlimited	189,670		45,792
Total	$	267,323	$	63,793

Schedule of reconciliation of beginning and ending amount of unrecognized tax benefit

	Year Ended December 31,
(in thousands)	2021			2020
Beginning balance	$	39,785		$	44,535
Additions based on tax positions related to the current year	3,815			7,331
Additions for tax positions of prior years	—			—
Reductions for tax positions of prior years	(1,998		)	(1,349		)
Settlements	—			(10,127		)
Statute of limitations expiration	(612		)	(605		)
Ending balance	$	40,990		$	39,785

Schedule of income tax examinations

Jurisdictions	Periods
U.S. (Federal)	2014 through 2021
Germany	2016 through 2021
Greece	2013 through 2021
Spain	2015 through 2021
U.K.	2018 through 2021

Valuation and Qualifying Accounts (Tables)

12 Months Ended

Dec. 31, 2021

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule of valuation and qualifying accounts

	Year Ended December 31,
(in thousands)	2021			2020			2019
Beginning balance-credit losses	$	41,727		$	27,938		$	24,287
Additions-charged to expense	9,721			19,469			10,095
Amounts written off	(21,662		)	(7,842		)	(6,179		)
Other (primarily changes in foreign currency exchange rates)	2,024			2,162			(265		)
Ending balance-credit losses	$	31,810		$	41,727		$	27,938

Stock Plans (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of stock options activity

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (thousands)
Balance at December 31, 2020 (1,497,567 shares exercisable)	4,091,293		$	94.88
Granted	532,979		$	116.55
Exercised	(296,363	)	$	26.41
Forfeited/Canceled	(17,831	)	$	119.80
Expired	(877	)	$	16.39
Balance at December 31, 2021	4,309,201		$	102.19	7.2	$	97,425
Exercisable at December 31, 2021	1,466,983		$	78.19	4.5	$	65,770
Vested and expected to vest at December 31, 2021	1,963,940		$	90.29	5.5	$	68,162

Schedule of the fair value using the Black-Scholes-Merton option-pricing model

	Year ended December 31,
	2021			2020			2019
Volatility	39.3		%	35.6		%	29.3		%
Risk-free interest rate - weighted average	1.2		%	0.6		%	2.1		%
Risk-free interest rate - range	0.5% to 1.21		%	0.31% to 1.17		%	(a)
Dividend yield	—		%	—		%	—		%
Assumed forfeitures	8.0		%	8.0		%	8.0		%
Expected lives	4.6 years			7.1 years			5.2 years
Weighted-average fair value (per share)	$	39.99		$	48.21		$	43.96

(a) At the date of grant, the risk fee rate for stock options awarded in 2019 was 1.7%.

Schedule of restricted stock activity

	Number of Shares		Weighted Average Grant Date Fair Value Per Share
Nonvested at December 31, 2020	485,510		$	126.62
Granted	191,184		$	117.35
Vested	(107,700	)	$	115.85
Forfeited	(33,890	)	$	98.18
Nonvested at December 31, 2021	535,104		$	127.96

Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Information [Abstract]

Schedule of reportable segment results

	For the Year Ended December 31, 2021
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other		Consolidated
Total revenues	$	591,138	$	1,011,482	$	1,400,957	$	(8,134)	$	2,995,443
Operating expenses:
Direct operating costs	354,254		760,891		793,218		(8,096)		1,900,267
Acquired contract cost impairment	—		—		38,634		—		38,634
Salaries and benefits	98,584		79,451		255,816		50,988		484,839
Selling, general and administrative	47,832		39,602		157,955		6,544		251,933
Depreciation and amortization	90,969		8,501		35,739		545		135,754
Total operating expenses	591,639		888,445		1,281,362		49,981		2,811,427
Operating income (expense)	$	(501)	$	123,037	$	119,595	$	(58,115)	$	184,016
Other income (expense)
Interest income									664
Interest expense									(38,198)
Foreign currency exchange loss, net									(10,866)
Other gains, net									59
Total other expense, net									(48,341)
Income before income taxes									$	135,675
Segment assets as of December 31, 2021	$	1,682,680	$	1,234,074	$	1,621,726	$	205,796	$	4,744,276

	For the Year Ended December 31, 2020
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	468,726	$	835,517	$	1,183,849	$	(5,392	)	$	2,482,700
Operating expenses:
Direct operating costs	302,637		630,391		649,033		(5,362		)	1,576,699
Salaries and benefits	91,526		64,769		213,511		34,336			404,142
Selling, general and administrative	35,388		35,789		142,161		8,276			221,614
Goodwill and acquired intangible assets impairment	21,861		—		84,741		—			106,602
Depreciation and amortization	84,025		7,890		34,694		412			127,021
Total operating expenses	535,437		738,839		1,124,140		37,662			2,436,078
Operating income (expense)	$	(66,711)	$	96,678	$	59,709	$	(43,054	)	$	46,622
Other income (expense)
Interest income										1,040
Interest expense										(36,604		)
Foreign currency exchange gain, net										(3,756)
Other gains, net										869
Total other expense, net										(38,451		)
Income before income taxes										$	8,171
Segment assets as of December 31, 2020	$	1,541,610	$	1,135,204	$	1,755,651	$	494,246		$	4,926,711

	For the Year Ended December 31, 2019
(in thousands)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	888,712	$	769,329	$	1,096,226	$	(4,158	)	$	2,750,109
Operating expenses:
Direct operating costs	397,132		576,757		586,730		(4,136		)	1,556,483
Salaries and benefits	87,603		61,540		208,792		36,809			394,744
Selling, general and administrative	35,518		35,054		133,068		8,304			211,944
Depreciation and amortization	71,819		6,774		32,846		305			111,744
Total operating expenses	592,072		680,125		961,436		41,282			2,274,915
Operating income (expense)	$	296,640	$	89,204	$	134,790	$	(45,440	)	$	475,194
Other income (expense)
Interest income										1,969
Interest expense										(36,237		)
Foreign currency exchange loss, net										2,701
Other gains, net										(9,820)
Total other expense, net										(41,387		)
Income before income taxes										$	433,807
Segment assets as of December 31, 2019	$	1,914,144	$	962,671	$	1,560,136	$	220,715		$	4,657,666

Schedule of property and equipment and total assets

	Revenues						Property and Equipment, net				Total Assets
	For the year ended December 31,						as of December 31,				as of December 31,
(in thousands)	2021		2020		2019		2021		2020		2021		2020
United States	$	805,028	$	725,135	$	716,576	$	59,469	$	55,573	$	1,040,190	$	1,255,983
Germany	631,550		533,999		518,146		32,126		38,808		901,724		797,627
Spain	157,766		118,934		189,104		50,321		61,563		317,199		291,254
United Kingdom	143,914		118,024		135,006		13,783		20,150		371,090		402,587
Italy	130,095		92,006		130,929		18,279		21,225		207,347		231,548
Poland	93,654		89,688		130,104		24,091		33,087		201,506		206,016
India	173,154		123,343		113,146		32,705		26,126		206,378		182,073
France	166,655		119,265		94,352		7,038		2,731		134,981		112,335
Greece	61,627		39,705		79,716		10,815		13,252		80,778		78,439
Malaysia	50,039		73,541		74,948		1,998		2,319		91,813		115,448
Australia	46,851		46,062		51,686		2,791		1,575		56,275		68,577
New Zealand	56,480		47,368		47,611		3,949		3,772		231,468		254,580
Other	478,630		355,630		468,785		88,016		98,260		903,527		930,244
Total foreign	2,190,415		1,757,565		2,033,533		285,912		322,868		3,704,086		3,670,728
Total	$	2,995,443	$	2,482,700	$	2,750,109	$	345,381	$	378,441	$	4,744,276	$	4,926,711

Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Measurements [Abstract]

Schedule of financial assets measured and recorded at fair value

		As of December 31, 2021
(in thousands)	Balance Sheet Classification	Level 1			Level 2			Level 3		Total
Assets
Foreign currency exchange contracts	Other current assets	$	—	$	27,582			$	—	$	27,582
Liabilities
Foreign currency exchange contracts	Other current liabilities	$	—	$	(23,285		)	$	—	$	(23,285	)

		As of December 31, 2020
(in thousands)	Balance Sheet Classification	Level 1			Level 2			Level 3		Total
Assets
Foreign currency exchange contracts	Other current assets	$	—		$	80,879		$	—	$	80,879
Liabilities
Foreign currency exchange contracts	Other current liabilities	$	—		$	(65,905	)	$	—	$	(65,905	)

Summary of Significant Accounting Policies and Practices (Details)	12 Months Ended
	Dec. 31, 2021
ATMs or ATM upgrades [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
ATMs or ATM upgrades [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	7 years
Computers and software [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Computers and software [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
POS terminals [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
POS terminals [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Vehicles and office equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Vehicles and office equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	Over the lesser of the lease term or estimated useful life

Summary of Significant Accounting Policies and Practices (Details 1)	12 Months Ended
	Dec. 31, 2021
Minimum [Member] \| Non-compete agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived intangible assets, Useful life	2 years
Minimum [Member] \| Trademarks and trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived intangible assets, Useful life	2 years
Minimum [Member] \| Software [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived intangible assets, Useful life	3 years
Minimum [Member] \| Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived intangible assets, Useful life	6 years
Maximum [Member] \| Non-compete agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived intangible assets, Useful life	5 years
Maximum [Member] \| Trademarks and trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived intangible assets, Useful life	20 years
Maximum [Member] \| Software [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived intangible assets, Useful life	10 years
Maximum [Member] \| Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived intangible assets, Useful life	20 years

Summary of Significant Accounting Policies and Practices (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	$ 2,995,443	$ 2,482,700	$ 2,750,109
EFT Processing [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	591,138	468,726	888,712
epay [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	1,011,482	835,517	769,329
Money Transfer [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	1,400,957	1,183,849	1,096,226
Europe [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	1,666,118	1,324,766	1,622,372
Europe [Member] \| EFT Processing [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	420,181	313,953	724,163
Europe [Member] \| epay [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	669,297	561,514	524,907
Europe [Member] \| Money Transfer [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	576,640	449,299	373,302
North America [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	870,865	778,905	759,493
North America [Member] \| EFT Processing [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	63,368	56,447	35,461
North America [Member] \| epay [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	139,759	144,613	151,016
North America [Member] \| Money Transfer [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	667,738	577,845	573,016
Asia Pacific [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	370,228	323,643	330,485
Asia Pacific [Member] \| EFT Processing [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	107,020	98,313	129,060
Asia Pacific [Member] \| epay [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	158,122	100,917	76,491
Asia Pacific [Member] \| Money Transfer [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	105,086	124,413	124,934
Other [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	96,366	60,778	41,917
Other [Member] \| EFT Processing [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	569	13	28
Other [Member] \| epay [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	44,304	28,473	16,915
Other [Member] \| Money Transfer [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	51,493	32,292	24,974
Eliminations [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues	8,134	(5,392)	(4,158)
Eliminations [Member] \| EFT Processing [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues
Eliminations [Member] \| epay [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues
Eliminations [Member] \| Money Transfer [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenues

Summary of Significant Accounting Policies and Practices (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Subsequent Event [Line Items]
Non-cash impairment charge		$ 38,600,000
Deferred contract costs		96,400,000	$ 96,400,000	$ 143,500,000
Deferred revenue recognized			54,500,000
Amortization related costs			33,300,000	$ 17,200,000	$ 6,900,000
Cash payments		$ 58,200,000	$ 58,200,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Increase in retained earnings	$ 42.9
Decrease in debt discounts	56.8
Decrease to additional paid-in capital	$ 99,700,000

Settlement Assets and Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Settlement assets:
Settlement cash and cash equivalents	$ 203,624	$ 188,191
Settlement restricted cash	74,897	76,674	$ 49,168
Account receivables	619,738	641,955
Prepaid expenses and other current assets	204,130	234,055
Total settlement assets	1,102,389	1,140,875
Settlement obligations:
Trade account payables	461,135	571,175
Accrued expenses and other current liabilities	641,254	569,700
Total settlement obligations	$ 1,102,389	$ 1,140,875

Settlement Assets and Obligations (Details 1) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Settlement Assets [Abstract]
Cash and cash equivalents	$ 1,260,466,000	$ 1,420,255,000	$ 786,081,000
Restricted cash	3,693,000	3,334,000	34,301,000
ATM cash	543,422,000	411,054,000	665,641,000
Settlement cash and cash equivalents	203,624,000	188,191,000	282,188,000
Settlement restricted cash	74,897,000	76,674,000	49,168,000
Cash and cash equivalents and restricted cash at end of period	$ 2,086,102	$ 2,099,508	$ 1,817,379

Settlement Assets and Obligations (Details Textual) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Settlement Assets [Abstract]
Account receivables, net of credit loss allowance	$ 27,341	$ 35,800

Stockholders' Equity (Details) - shares	12 Months Ended
Stockholders' Equity (Details) - shares	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Computation of diluted weighted average shares outstanding
Basic	52,585,674	52,659,551	53,449,834
Incremental shares from assumed exercise of stock options and vesting of restricted stock	943,902		1,464,053
Diluted weighted average shares outstanding	53,529,576	52,659,551	54,913,887

Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 26, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 08, 2021	Mar. 31, 2020	Mar. 18, 2019	Mar. 11, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion price		$ 147.24					$ 188.73
Other comprehensive income (loss), foreign currency transaction and translation adjustment, net of tax		$ (78,466)	$ 70,794	$ (13,894)
Stock repurchase program, number of shares authorized to be repurchased					5,000,000
Stock repurchase program authorized amount					$ 300,000
Repurchase of shares		$ 227,764	$ 239,763	$ 70,876
Preferred stock, shares authorized		10,000,000	10,000,000
Preferred stock, shares issued		0	0
Preferred stock, shares outstanding		0
Antidilutive securities excluded from computation of earnings per share, amount		1,668,000	2,073,000	380,000
Foreign currency translation gain (loss)		$ 78,500
Foreign currency transaction gain			$ 70,800
Foreign currency transaction loss				$ 13,900
Share Repurchase Plan [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock repurchase program, number of shares authorized to be repurchased						10,000,000
Stock repurchase program authorized amount						$ 375,000		$ 120,000
Stock Repurchase Program Number of Authorized not to be Purchased	$ 250,000
Stock Repurchase Program Number of Shares Authorized not to be Purchased	5,000,000
Repurchase of shares		$ 227,800	$ 239,800	$ 70,900

Acquisitions (Details) $ in Thousands	Nov. 30, 2019 USD ($)
Business Acquisition [Line Items]
Cash and cash equivalents	$ 5,325
Trade accounts receivable	2,167
Other current assets	798
Property and equipment	16,542
Intangible assets	39,000
Total assets acquired	63,832
Trade accounts payable	(6,790)
Accrued expenses and other current liabilities	(80)
Total liabilities assumed	(6,870)
Goodwill	35,540
Net assets acquired	$ 92,502

Acquisitions (Details Textual) € in Millions, $ in Millions	1 Months Ended
Acquisitions (Details Textual) € in Millions, $ in Millions	Mar. 31, 2021 EUR (€)	Mar. 31, 2021 USD ($)	Nov. 30, 2019 USD ($) Item	Dec. 31, 2021 USD ($)
Acquisitions [Abstract]
Number of ATMs in operation at acquired entity \| Item			1,800
Purchase price of acquired entity in cash	€ 300	$ 360.0	$ 92.5
Intangible assets			$ 39.0
Goodwill				$ 35.5
Acquired finite-lived intangible assets, useful life			20 years

Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Cash and Cash Equivalents Items [Line Items]
Total Restricted Cash	$ 78,590	$ 80,008
Restricted cash included within settlement assets	74,897	76,674	$ 49,168
Restricted cash	3,693	3,334	$ 34,301
Collateral on bank credit arrangements and other [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included within settlement assets	12,820	12,185
Cash held in trust and/or cash held on behalf of others [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included within settlement assets	62,077	64,489
Restricted cash	$ 3,693	$ 3,334

Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 878,012	$ 868,870
Less accumulated depreciation	(532,631)	(490,429)
Total	345,381	378,441
ATMs [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	560,310	554,508
POS terminals [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	31,321	33,258
Vehicles and office equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	75,331	75,936
Computers and software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	210,363	203,883
Land and buildings [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 687	$ 1,285

Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property and Equipment, Net [Abstract]
Depreciation and amortization expense	$ 104,700	$ 96,100	$ 83,500

Goodwill and Acquired Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (185,054)	$ (175,210)
Gross Carrying Amount	282,847	297,093
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	176,024	186,749
Accumulated Amortization	(103,713)	(99,131)
Trademarks and trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	45,445	46,762
Accumulated Amortization	(32,596)	(31,327)
Software [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	60,118	61,602
Accumulated Amortization	(47,485)	(42,772)
Non-compete agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,260	1,980
Accumulated Amortization	$ (1,260)	$ (1,980)

Goodwill and Acquired Intangible Assets, Net (Details 1) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward]
Balance	$ 141,847	$ 121,883	$ 141,847
Increases (decreases):
Acquisitions			1,575
Impairment			2,048
Amortization		(23,059)	(22,867)
Other (primarily changes in foreign currency exchange rates)		1,031	3,376
Balance		97,793	121,883
Balance	743,823	665,821	743,823
Increases (decreases):
Acquisitions			(265)
Impairment			104,554
Amortization
Other (primarily changes in foreign currency exchange rates)		24,216	26,817
Balance		641,605	665,821
Balance	885,670	787,704	885,670
Increases (decreases):
Acquisitions			1,310
Impairment	$ (104,600)		106,602
Amortization		(23,059)	22,867
Other (primarily changes in foreign currency exchange rates)		25,247	30,193
Balance		$ 739,398	$ 787,704

Goodwill and Acquired Intangible Assets, Net (Details Textual) $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2020 USD ($)	Jun. 30, 2020 USD ($) Item	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Finite-Lived Intangible Assets [Line Items]
Future Amortization Expense, Year One			$ 21,700
Future Amortization Expense, Year Two			16,700
Future Amortization Expense, Year Three			9,900
Future Amortization Expense, Year Four			6,500
Future Amortization Expense, Year Five			6,100
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward]
Acquired intangible assets, net of accumulated amortization of $185,054 and $175,210	$ 121,883		97,793	$ 121,883	$ 141,847
Finite-Lived Intangible Assets, Amortization Expense			(23,059)	(22,867)
Other (primarily changes in foreign currency exchange rates)			1,031	3,376
Goodwill	665,821		641,605	665,821	743,823
Goodwill and acquired intangible assets impairment				106,602
Other (primarily changes in foreign currency exchange rates)			24,216	26,817
Total intangible assets, net, including goodwill	787,704		739,398	787,704	885,670
Acquisitions				1,310
Total intangible assets amortization expense			(23,059)	22,867
Other (primarily changes in foreign currency exchange rates)			25,247	30,193
Non-cash impairment charge for acquired intangible assets	2,000
Asset Impairment Charges		$ 104,600		(106,602)
Number of reporting units \| Item		6
Goodwill [Member]
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward]
Finite-Lived Intangible Assets, Amortization Expense			$ (23,100)	(22,900)	$ (20,400)
Goodwill	641,600			641,600
Money Transfer [Member]
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward]
Goodwill	392,300			392,300
Goodwill and acquired intangible assets impairment				84,741
Asset Impairment Charges		$ 82,700
Number of reporting units \| Item		2
Epay Segment [Member]
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward]
Goodwill	129,100			129,100
Goodwill and acquired intangible assets impairment
Number of reporting units \| Item		1
Eft Processing Segment [Member]
Goodwill and Finite-lived Intangible Assets Rollforward [Roll Forward]
Goodwill	$ 120,200			120,200
Goodwill and acquired intangible assets impairment				$ 21,861
Asset Impairment Charges		$ 21,900
Number of reporting units \| Item		3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accrued Expenses and Other Current Liabilities [Abstract]
Accrued expenses	$ 285,098	$ 288,996
Derivative liabilities	23,285	65,905
Accrued payroll expenses	55,162	42,717
Current portion of finance lease obligations	4,147	6,403
Total	$ 367,692	$ 404,021

Debt Obligations (Details) $ in Thousands, € in Millions	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	May 22, 2019 EUR (€)	May 22, 2019 USD ($)
Debt Instrument [Line Items]
Revolving credit agreements	$ 283,400	$ 270,400
Convertible debt, carrying values	468,200	682,100
Senior notes	682,100	682,100	€ 600	$ 669,900
Other debt obligations	920	850
Total debt obligations	1,434,635	1,456,318
Unamortized debt issuance costs	(13,729)	(17,932)
Carrying value of debt	1,420,906	1,438,386
Short-term debt obligations and current maturities of long-term debt obligations	(821)	(797)
Long-term debt obligations	1,420,085	1,437,589
Due 2049 [Member]
Debt Instrument [Line Items]
Convertible debt, carrying values	468,235	452,228
Due 2026 [Member]
Debt Instrument [Line Items]
Senior notes	$ 682,080	$ 732,840

Debt Obligations (Details Textual) $ / shares in Units, $ in Thousands, € in Millions, shares in Millions	1 Months Ended		3 Months Ended	12 Months Ended
	Sep. 17, 2020	Mar. 18, 2019 USD ($) $ / shares	Dec. 31, 2018	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2021 EUR (€)	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2020 EUR (€)	Dec. 31, 2020 USD ($)	Sep. 04, 2019 USD ($)	May 22, 2019 EUR (€)	May 22, 2019 USD ($)	Oct. 17, 2018 USD ($)
Debt Instrument [Line Items]
Redemptions and conversions of convertible notes, net of tax						$ (20,467)
Repayments of Convertible Debt				$ 94,200
Repayments of Debt				$ 49,000
Senior Notes \| €							€ 600		€ 600
Unamortized debt issuance costs								$ (13,729)		$ (17,932)
Due in 2022								800
Due in 2023								283,500
Long-term Debt, Maturities, Repayments of Principal in Year Five								468,200
thereafter								$ 682,100
Line of Credit Facility, Interest Rate Description				<span style="border-left: none; border-right: none;">LIBOR</span> plus <span style="border-left: none; border-right: none;">0.65</span>%
Letter of credit, interest rate at period end							1.10%	1.10%
Letters of credit outstanding, amount								$ 84,200
Conversion price \| $ / shares		$ 188.73						$ 147.24
Debt Instrument, Face Amount								$ 1,000
Debt Instrument, Convertible, Effective Interest Rate				4.40%
Debt Instrument, Convertible, Interest Expense						3,100
Other debt, current								$ 900		900
Debt Instrument, Redemption Price, Percentage		100.00%
Issuance of convertible notes, net of tax						71,659
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate							1.375%	1.375%				1.375%	1.375%
Senior notes								$ 682,100		682,100		€ 600	$ 669,900
Stock Issued During Period, Shares, Conversion of Convertible Securities \| shares				2.5
Gain (Loss) on Extinguishment of Debt, before Tax					$ 9,800
Debt instrument, description				(i) as of the end of each fiscal quarter ended on March 31, September 30 and December 31, a Consolidated Total Leverage Ratio not to be greater than 3.5 to 1.0; (ii) as of the end of each fiscal quarter ended on June 30, a Consolidated Total Leverage Ratio (as defined in the Credit Facility) not to be greater than 4.0 to 1.0; provided that, not more than two times prior to the expiration date, that a Material Acquisition has been consummated, for any period of four consecutive fiscal quarters following such Material Acquisition, the Consolidated Total Leverage Ratio will be not greater than 4.0 to 1.0 for fiscal quarters ended on March 31, September 30 and December 31 and not greater than 4.5 to 1.0 for fiscal quarters ended on June 30; provided, further, that following such four consecutive fiscal quarters for which the maximum Consolidated Total Leverage Ratio is increased, the maximum Consolidated Total Leverage Ratio shall revert to the levels set forth in clauses (i) and (ii) above for not fewer than two fiscal quarters before a subsequent Increase Notice is delivered to the syndicate of financial institutions; and (iii) a Consolidated Interest Coverage Ratio (as defined in the Credit Facility) not less than 4.0 to 1.0. Subject to meeting certain leverage ratio and liquidity requirements as contained in the unsecured credit agreement, the Company is permitted to pay dividends, repurchase common stock and repurchase subordinated debt.
Debt instrument, redemption, description				(i) on or after September 20, 2022 if the closing sale price of the Company's Common Stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption and (ii) on or after March 20, 2025 and prior to the maturity date, regardless of the foregoing sale price condition, in each case at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the Convertible Notes. In addition, if a fundamental change, as defined in the Indenture, occurs prior to the maturity date, holders may require the Company to repurchase for cash all or part of their Convertible Notes 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 fundamental change repurchase date.
Cash								1,000
Principal amount of retired convertible notes								352,400
Consolidated interest coverage ratio, description	Under the Amendment, the Consolidated Total Leverage Ratio, as defined in the Credit Facility, was modified to reduce the amount of consolidated funded debt by the amount of cash and cash equivalents on the Company's consolidated balance sheet and the Consolidated Interest Coverage Ratio now includes a one-time option to reduce the ratio to 3.5 to 1.0 from 4.0 to 1.0 for a period of up to three consecutive quarters.
Accretion Expense				$ 16,000	15,300	11,600
Other Obligation Arrangements								800
Retired Convertible Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		100.00%
Senior Notes, 1.375 Percent due 2026 [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs								$ (5,400)
Debt Instrument, Convertible, Effective Interest Rate				1.375%
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate							1.375%	1.375%
Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity								$ 689,300
Letters of credit outstanding, amount								57,300		60,800
Line of Credit [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity								200,000
Common Stock [Member]
Debt Instrument [Line Items]
Cash								352,400
Due 2026 [Member]
Debt Instrument [Line Items]
Redemptions and conversions of convertible notes, net of tax						34,200
Amortization of Debt Discount (Premium)					4,600
Debt Instrument, Convertible, Interest Expense					1,500
Senior notes								682,080		$ 732,840
Due 2049 [Member]
Debt Instrument [Line Items]
Redemptions and conversions of convertible notes, net of tax						$ 25,600
Debt Instrument, Convertible, Carrying Amount of Equity Component								$ 99,700
Debt Issuance Costs, Gross		$ 12,800
Debt Instrument, Face Amount		$ 525,000
Debt Instrument, Interest Rate, Stated Percentage							1.50%	1.50%
Debt Instrument, Unamortized Discount								$ 56,800
Debt Instrument, Convertible, Effective Interest Rate				0.75%
Debt Instrument, Convertible, Interest Expense				$ 3,900	$ 3,900
U.S. dollar swingline loans [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity								50,000
Foreign currencies swingline loans [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity								$ 90,000
London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.125%
London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			2.00%
Base rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.175%
Base rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.00%
Unsecured Debt [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity														$ 1,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Debt, Weighted Average Interest Rate, at Point in Time							1.20%	1.20%
BofA LoC [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity											$ 100,000

Derivative Instruments and Hedging Activities Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure Fair Value [Abstract]
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	$ 27,582	$ 80,879
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	$ (23,285)	$ (65,905)

Derivative Instruments and Fair Value of Derivative Assets and Liabilities (Details 1) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments Financial Information [Abstract]
Gross Amounts of Recognized Assets	$ 27,582	$ 80,879
Gross Amounts Offset in the Consolidated Balance Sheet
Net Amounts Presented in the Consolidated Balance Sheet	27,582	80,879
Derivative Asset, Not Offset, Financial Instruments	(14,875)	(44,893)
Cash Collateral Received	(2,284)	(2,778)
Derivatives Assets, Net Amounts	10,423	33,208
Gross Amounts of Recognized Liabilities	(23,285)	(65,905)
Gross Amounts Offset in the Consolidated Balance Sheet
Net Amounts Presented in the Consolidated Balance Sheet	(23,285)	(65,905)
Derivative Liability, Not Offset, Financial Instruments	14,875	44,893
Cash Collateral Paid	640	12,272
Derivative Liability, Net Amounts	$ (7,770)	$ (8,740)

Derivative Instruments and Hedging Activities (Details 2) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2018

Derivative Instruments, Gain (Loss) [Line Items]

Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments

^[1]

$ 1,618

$ 1,499

$ 62

[1]

The Company enters into derivative contracts such as foreign currency exchange forwards and cross-currency swaps as part of its xe operations. These derivative contracts are excluded from this table as they are part of the broader disclosure of foreign currency exchange revenues for this business discussed above.

Derivative Instruments and Hedging Activities Derivative Financial Information (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018
Ria Operations [Member] \| Foreign Exchange Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	$ 222.1	$ 246.0
Corporate Operations [Member] \| Foreign Exchange Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	216.1	454.3
xe Operations [Member] [Domain] \| Trading Revenue [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Trading Activity, Gain	79.5	68.2	$ 71.1
HiFX Operations [Member] \| Foreign Exchange Contract [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	$ 1,000.0	$ 1,300.0
Maximum [Member] \| Ria Operations [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency forward contract term	14 days

Leases (Details)
$ in Thousands

Dec. 31, 2021

USD ($)

^[1]

Leases [Abstract]

$ 48,412

37,368

27,827

19,172

12,620

22,819

168,218

Less: imputed interest

(4,727)

Present value of lease liabilities

$ 163,491

[1]	Operating lease payments reflect the Company's current fixed obligations under the operating lease agreements.

Leases (Details 1) - USD ($) $ in Thousands	12 Months Ended
Leases (Details 1) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease expense	$ 55,613	$ 83,102
Short-term and variable lease expense	115,963	69,711
Total lease expense	$ 171,576	$ 152,813

Leases (Details 2)	Dec. 31, 2021
Leases [Abstract]
Weighted- average remaining lease term (years)	4 years 10 months 24 days
Weighted- average discount rate	2.24%

Leases (Details 3) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Leases [Abstract]

Cash paid for amounts included in the measurement of lease liabilities

^[1]

$ 51,464

$ 79,447

Supplemental non-cash information on lease liabilities arising from obtaining ROU assets:

ROU assets obtained in exchange for new operating lease liabilities

$ 69,073

$ 77,728

[1]	Included in Net cash provided by operating activities on the Company's Consolidated Statements of Cash Flows.

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income before taxes:
Total income before income taxes	$ 135,675	$ 8,171	$ 433,807
United States
Income before taxes:
Total income before income taxes	(4,775)	40,323	44,290
Foreign
Income before taxes:
Total income before income taxes	$ 140,450	$ (32,152)	$ 389,517

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: 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=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: 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=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes (Details 1) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 1) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income taxes [Line Items]
Total current	$ 62,684	$ 41,875	$ 78,907
Total deferred	2,404	(30,400)	8,205
Total tax expense	65,088	11,475	87,112
U.S.
Income taxes [Line Items]
Total current	2,810	2,605	(4,885)
Total deferred	12,269	(16,100)	(8,424)
Foreign
Income taxes [Line Items]
Total current	59,874	39,270	83,792
Total deferred	$ (9,865)	$ (14,300)	$ (16,629)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 2) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Effective Income Tax Rate Reconciliation, Amount [Abstract]
U.S. federal income tax expense at applicable statutory rate	$ 28,492	$ 1,716	$ 91,099
Tax effect of:
State income tax expense at statutory rates, net of U.S. federal income tax	1,516	347	5,101
Non-deductible expenses	538	1,887	2,896
Share-based compensation	(3,524)	(6,446)	(2,875)
Other permanent differences	(2,047)	3,828	(864)
Difference between U.S. federal and foreign tax rates	7,438	7,002	12,281
Provision in excess of statutory rates	2,879	(6,491)	3,565
Change in federal and foreign valuation allowance	26,673	(4,238)	2,144
Impairment of goodwill and acquired intangibles assets		22,053
GILTI, net of tax credits	3,900		6,471
U.S. Tax Reform - transition tax and rate change			(25,728)
Tax credits	(1,122)	(3,518)	(4,500)
Other	345	(4,665)	(2,478)
Income tax expense	$ 65,088	$ 11,475	$ 87,112
Effective tax rate	48.00%	140.40%	20.10%

Income Taxes (Details 3) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Tax loss carryforwards	$ 65,862	$ 45,609
Share-based compensation	9,743	6,771
Accrued expenses	19,907	22,243
Property and equipment	11,949	10,835
Goodwill and intangible amortization	9,353	7,614
Contract costs	9,921
Intercompany notes	6,077	7,689
Accrued revenue	7,541	34,663
Tax credits	65,267	65,388
Lease accounting	42,381	39,962
Foreign exchange	8,283	19,160
Other	14,616	14,230
Gross deferred tax assets	270,900	274,164
Valuation allowance	(100,489)	(77,563)
Net deferred tax assets	170,411	196,601
Deferred tax liabilities:
Intangible assets related to purchase accounting	(11,763)	(12,854)
Goodwill and intangible amortization	(30,339)	(24,763)
Accrued expenses	(21,495)	(43,971)
Intercompany notes	(10,388)	(10,396)
Accrued interest	(34,175)	(30,932)
Capitalized research and development	(6,376)	(6,352)
Property and equipment	(15,597)	(18,295)
Deferred tax liabilities, accrued revenue	(2,073)	(1,829)
Lease accounting	(42,381)	(39,962)
Foreign exchange	(1,211)	(10,880)
Other	(3,971)	(6,826)
Total deferred tax liabilities	(179,769)	(207,060)
Net deferred tax liabilities	$ (9,358)	$ (10,459)

Income Taxes (Details 4) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards
US Federal and Foreign [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 267,323
Operating Loss Carryforward, Tax Effected	63,793
US Federal and Foreign [Member] \| Expiring in One Year [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	3,960
Operating Loss Carryforward, Tax Effected	749
US Federal and Foreign [Member] \| Expiring in Two Years [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	2,296
Operating Loss Carryforward, Tax Effected	533
US Federal and Foreign [Member] \| Expiring in Three Years [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	3,153
Operating Loss Carryforward, Tax Effected	711
US Federal and Foreign [Member] \| Expiring in Four Years [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	21,012
Operating Loss Carryforward, Tax Effected	4,664
US Federal and Foreign [Member] \| Expiring in Five Years [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	21,767
Operating Loss Carryforward, Tax Effected	4,843
US Federal and Foreign [Member] \| Expiring in More than Five Years [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	25,465
Operating Loss Carryforward, Tax Effected	6,501
US Federal and Foreign [Member] \| Not Subject to Expiration [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	189,670
Operating Loss Carryforward, Tax Effected	$ 45,792

Income Taxes (Details 5) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 5) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 39,785	$ 44,535
Additions based on tax positions related to the current year	3,815	7,331
Additions for tax positions of prior years
Reductions for tax positions of prior years	(1,998)	(1,349)
Settlements		(10,127)
Statute of limitations expiration	(612)	(605)
Ending balance	$ 40,990	$ 39,785

Income Taxes (Details 6)	12 Months Ended
Income Taxes (Details 6)	Dec. 31, 2021
2014 through 2021 [Member]
Statutory Accounting Practices [Line Items]
Income tax examinations	U.S. (Federal)
2016 through 2021 [Member]
Statutory Accounting Practices [Line Items]
Income tax examinations	Germany
2013 through 2021 [Member]
Statutory Accounting Practices [Line Items]
Income tax examinations	Greece
2015 through 2021 [Member]
Statutory Accounting Practices [Line Items]
Income tax examinations	Spain
2018 through 2021 [Member]
Statutory Accounting Practices [Line Items]
Income tax examinations	U.K.

Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
Income Taxes (Details Textual) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income taxes [Line Items]
Unrecognized tax benefits, income tax penalties and interest accrued		$ 7.2	$ 6.2
Unrecognized tax benefits that would impact effective tax rate		29.1	31.8
Net deferred tax assets		37.7	27.4
Undistributed earnings of foreign subsidiaries indefinitely reinvested		$ 1,808.8
Operating loss carryforwards, description		The Company's state tax net operating loss carryforwards of $73.7 million will expire periodically from 2022 through 2040, U.S. foreign tax credit carryforwards of $61.6 million that will expire periodically from 2022 through 2030 and U.S. federal research and expenditure credit carryforwards of $3.3 million that will expire periodically from 2034 through 2038.
Foreign tax credits		$ 61.6
Operating loss carryforwards
Net provisional tax expense	$ 25.7
Federal statutory income tax rate		21.00%	21.00%	21.00%
Foreign [Member]
Income taxes [Line Items]
Operating loss carryforwards		$ 267.3	$ 197.4
U.S. State [Member]
Income taxes [Line Items]
Operating loss carryforwards		$ 73.7	$ 95.8

Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance-credit losses	$ 41,727	$ 27,938	$ 24,287
Additions-charged to expense	9,721	19,469	10,095
Amounts written off	(21,662)	(7,842)	(6,179)
Other (primarily changes in foreign currency exchange rates)	2,024	2,162	(265)
Ending balance-credit losses	$ 31,810	$ 41,727	$ 27,938

Stock Plans (Details) - Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of Shares, Outstanding balance	4,309,201	4,091,293
Number of Shares, Granted	532,979
Number of Shares, Exercised	(296,363)
Number of Shares, Forfeited/Canceled	(17,831)
Number of Shares, Expired	(877)
Number of Shares, Exercisable	1,466,983
Number of Shares, Vested and expected to vest	1,963,940
Weighted Average Exercise Price, Outstanding balance	$ 102.19	$ 94.88
Weighted Average Exercise Price, Granted	116.55
Weighted Average Exercise Price, Exercised	26.41
Weighted Average Exercise Price, Forfeited/Canceled	119.8
Weighted Average Exercise Price, Expired	16.39
Weighted Average Exercise Price, Exercisable	78.19
Weighted Average Exercise Price, Vested and expected to vest	$ 90.29
Weighted Average Remaining Contractual Term (years), Outstanding balance	7 years 2 months 12 days
Weighted Average Remaining Contractual Term (years), Exercisable	4 years 6 months
Weighted Average Remaining Contractual Term (years), Vested and expected to vest	5 years 6 months
Aggregate Intrinsic Value (thousands), Outstanding balance	$ 97,425
Aggregate Intrinsic Value (thousands), Exercisable	65,770
Aggregate Intrinsic Value (thousands), Vested and expected to vest	$ 68,162

Stock Plans (Details 1) - $ / shares

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]

Volatility - range

40.00%

37.00%

Risk-free interest rate - range

1.19%

0.33%

Expected lives

4 years 6 months

5 years

Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]

Risk-free interest rate - range

0.50%

0.31%

Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]

Risk-free interest rate - range

1.21%

1.17%

Stock Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]

Volatility - range

39.30%

35.60%

29.30%

Risk-free interest rate - weighted average

1.20%

^[1]

0.60%

2.10%

Dividend yield

Assumed forfeitures

8.00%

^[1]

8.00%

Expected lives

4 years 7 months 6 days

^[1]

7 years 1 month 6 days

5 years 2 months 12 days

Weighted-average fair value (per share)

$ 39.99

^[1]

$ 48.21

$ 43.96

[1]

During 2020, the Company granted 1,350,000 options that were valued using a Monte Carlo simulation due to market performance conditions included in the option grant. The Monte Carlo simulation calculated a fair value per option of $26.90 using the following assumptions: volatility of 37.0%, risk-free interest rate of 0.33%, and a term of 5.0 years.

Stock Plans (Details 2) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Number of Shares, Nonvested	535,104	485,510
Number of Shares, Granted	191,184
Number of Shares, Vested	(107,700)
Number of Shares, Forfeited	(33,890)
Weighted Average Grant Date Fair Value Per Share, Nonvested	$ 127.96	$ 126.62
Weighted Average Grant Date Fair Value Per Share, Granted	117.35
Weighted Average Grant Date Fair Value Per Share, Vested	115.85
Weighted Average Grant Date Fair Value Per Share, Forfeited	$ 98.18

Stock Plans (Details 3)	12 Months Ended
Stock Plans (Details 3)	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Volatility - range	40.00%	37.00%
Risk-free interest rate - range	1.19%	0.33%
Expected lives	4 years 6 months	5 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Risk-free interest rate - range	0.50%	0.31%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Risk-free interest rate - range	1.21%	1.17%

Stock Plans (Details Textual) - USD ($)
$ / shares in Units, $ in Millions

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

5,600,000

1,350,000

Allocated Share-based Compensation Expense

$ 36.5

$ 22.0

$ 21.4

Employee Service Share-based Compensation, Tax Benefit from Compensation Expense

4.1

2.1

4.9

Proceeds from Stock Options Exercised

7.8

15.8

13.1

Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value

$ 27.7

$ 41.1

30.6

employee service share-based compensation, nonvested awards, total compensation cost not yet recognized, total period for recognition

2 years 7 months 6 days

Options granted

5,600,000

1,350,000

Fair value of option

$ 40.3

$ 26.9

Expected lives

4 years 6 months

5 years

Risk-free interest rate

1.19%

0.33%

Volatility

40.00%

37.00%

Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options vesting period

3 years

Risk-free interest rate

0.50%

0.31%

Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options vesting period

5 years

Risk-free interest rate

1.21%

1.17%

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized

$ 17.3

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value

$ 13.8

$ 15.4

$ 16.6

Weighted Average Grant Date Fair Value Per Share, Granted

$ 117.35

Weighted Average Exercise Price, Granted

$ 115.85

$ 117.97

$ 145.93

Performance-based Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized

$ 16.8

Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition

2 years

Time-based restricted stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition

3 years

Stock Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant

331,000

Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized

$ 58.5

Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition

4 years

Weighted Average Grant Date Fair Value Per Share, Granted

$ 1.7

Options granted

331,000

Expected lives

4 years 7 months 6 days

^[1]

7 years 1 month 6 days

5 years 2 months 12 days

Volatility

39.30%

35.60%

29.30%

Number of Shares, Granted

532,979

Weighted Average Exercise Price, Granted

$ 116.55

[1]

Business Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenues	$ 2,995,443	$ 2,482,700	$ 2,750,109
Operating expenses:
Direct operating costs	1,900,267	1,576,699	1,556,483
Acquired contract cost impairment	38,634
Salaries and benefits	484,839	404,142	394,744
Selling, general and administrative	251,933	221,614	211,944
Goodwill and acquired intangible assets impairment		106,602
Depreciation and amortization	135,754	127,021	111,744
Total operating expenses	2,811,427	2,436,078	2,274,915
Operating income (expense)	184,016	46,622	475,194
Other income (expense)
Interest income	664	1,040	1,969
Interest expense	(38,198)	(36,604)	(36,237)
Foreign Currency Transaction Loss, before Tax	10,866
Other gains, net	59	869	(9,820)
Gain (Loss) on Extinguishment of Debt			9,831
Total other expense, net	(48,341)	(38,451)	(41,387)
Income before income taxes	135,675	8,171	433,807
Total Assets	4,744,276	4,926,711	4,657,666
Eft Processing Segment [Member]
Segment Reporting Information [Line Items]
Revenues	591,138	468,726	888,712
Operating expenses:
Direct operating costs	354,254	302,637	397,132
Acquired contract cost impairment
Salaries and benefits	98,584	91,526	87,603
Selling, general and administrative	47,832	35,388	35,518
Goodwill and acquired intangible assets impairment		21,861
Depreciation and amortization	90,969	84,025	71,819
Total operating expenses	591,639	535,437	592,072
Operating income (expense)	(501)	(66,711)	296,640
Other income (expense)
Total Assets	1,682,680	1,541,610	1,914,144
Epay Segment [Member]
Segment Reporting Information [Line Items]
Revenues	1,011,482	835,517	769,329
Operating expenses:
Direct operating costs	760,891	630,391	576,757
Acquired contract cost impairment
Salaries and benefits	79,451	64,769	61,540
Selling, general and administrative	39,602	35,789	35,054
Goodwill and acquired intangible assets impairment
Depreciation and amortization	8,501	7,890	6,774
Total operating expenses	888,445	738,839	680,125
Operating income (expense)	123,037	96,678	89,204
Other income (expense)
Total Assets	1,234,074	1,135,204	962,671
Money Transfer [Member]
Segment Reporting Information [Line Items]
Revenues	1,400,957	1,183,849	1,096,226
Operating expenses:
Direct operating costs	793,218	649,033	586,730
Acquired contract cost impairment	38,634
Salaries and benefits	255,816	213,511	208,792
Selling, general and administrative	157,955	142,161	133,068
Goodwill and acquired intangible assets impairment		84,741
Depreciation and amortization	35,739	34,694	32,846
Total operating expenses	1,281,362	1,124,140	961,436
Operating income (expense)	119,595	59,709	134,790
Other income (expense)
Total Assets	1,621,726	1,755,651	1,560,136
Corporate Services, Eliminations and Other
Segment Reporting Information [Line Items]
Revenues	(8,134)	(5,392)	(4,158)
Operating expenses:
Direct operating costs	(8,096)	(5,362)	(4,136)
Acquired contract cost impairment
Salaries and benefits	50,988	34,336	36,809
Selling, general and administrative	6,544	8,276	8,304
Goodwill and acquired intangible assets impairment
Depreciation and amortization	545	412	305
Total operating expenses	49,981	37,662	41,282
Operating income (expense)	(58,115)	(43,054)	(45,440)
Other income (expense)
Total Assets	$ 205,796	$ 494,246	$ 220,715

Business Segment Information (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenues	$ 2,995,443	$ 2,482,700	$ 2,750,109
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	345,381	378,441
Total Assets	4,744,276	4,926,711	4,657,666
UNITED STATES
Segment Reporting Information [Line Items]
Revenues	805,028	725,135	716,576
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	59,469	55,573
Total Assets	1,040,190	1,255,983
Non-US
Segment Reporting Information [Line Items]
Revenues	2,190,415	1,757,565	2,033,533
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	285,912	322,868
Total Assets	3,704,086	3,670,728
GERMANY
Segment Reporting Information [Line Items]
Revenues	631,550	533,999	518,146
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	32,126	38,808
Total Assets	901,724	797,627
SPAIN
Segment Reporting Information [Line Items]
Revenues	157,766	118,934	189,104
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	50,321	61,563
Total Assets	317,199	291,254
UNITED KINGDOM
Segment Reporting Information [Line Items]
Revenues	143,914	118,024	135,006
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	13,783	20,150
Total Assets	371,090	402,587
ITALY
Segment Reporting Information [Line Items]
Revenues	130,095	92,006	130,929
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	18,279	21,225
Total Assets	207,347	231,548
POLAND
Segment Reporting Information [Line Items]
Revenues	93,654	89,688	130,104
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	24,091	33,087
Total Assets	201,506	206,016
INDIA
Segment Reporting Information [Line Items]
Revenues	173,154	123,343	113,146
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	32,705	26,126
Total Assets	206,378	182,073
FRANCE
Segment Reporting Information [Line Items]
Revenues	166,655	119,265	94,352
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	7,038	2,731
Total Assets	134,981	112,335
GREECE
Segment Reporting Information [Line Items]
Revenues	61,627	39,705	79,716
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	10,815	13,252
Total Assets	80,778	78,439
MALAYSIA
Segment Reporting Information [Line Items]
Revenues	50,039	73,541	74,948
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	1,998	2,319
Total Assets	91,813	115,448
AUSTRALIA
Segment Reporting Information [Line Items]
Revenues	46,851	46,062	51,686
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	2,791	1,575
Total Assets	56,275	68,577
NEW ZEALAND
Segment Reporting Information [Line Items]
Revenues	56,480	47,368	47,611
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	3,949	3,772
Total Assets	231,468	254,580
Other countries [Member]
Segment Reporting Information [Line Items]
Revenues	478,630	355,630	$ 468,785
Property and equipment, net of accumulated depreciation of $532,631 and $490,429	88,016	98,260
Total Assets	$ 903,527	$ 930,244

Financial Instruments and Fair Value Measurements (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency exchange contracts, Other current assets	$ 27,582	$ 80,879
Foreign currency exchange contracts, Other current liabilities	(23,285)	(65,905)
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency exchange contracts, Other current assets
Foreign currency exchange contracts, Other current liabilities
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency exchange contracts, Other current assets	27,582	80,879
Foreign currency exchange contracts, Other current liabilities	(23,285)	(65,905)
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency exchange contracts, Other current assets
Foreign currency exchange contracts, Other current liabilities

Financial Instruments and Fair Value Measurements (Details Textual) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Fair Value Measurements [Abstract]
Convertible debt, carrying values	$ 468.2	$ 682.1
Convertible debt, fair value	$ 589.3	$ 696.1

Commitments (Details) $ in Millions	Dec. 31, 2021 USD ($)
Guarantor Obligations [Line Items]
Letters of credit outstanding, amount	$ 84.2
Cash deposits held by issuing banks	3.7
Guarantees amount	11.4
Performance Guarantee [Member]
Guarantor Obligations [Line Items]
Guarantees amount	51.7
Indemnification Agreement [Member]
Guarantor Obligations [Line Items]
Guarantees amount	$ 558.1

Related Party Transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Related party transaction, incurred expenses	$ 0.1	$ 0.1	$ 0.3