EVERTEC (EVTC) 10-Q 3 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 26, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	EVERTEC, Inc.
Trading Symbol	EVTC
Entity Central Index Key	0001559865
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding (in shares)		72,226,415

Unaudited Consolidated Condense

Unaudited Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 73,183	$ 69,973
Restricted cash	13,318	16,773
Accounts receivable, net	96,307	100,323
Prepaid expenses and other assets	34,451	29,124
Total current assets	217,259	216,193
Investment in equity investee	12,337	12,149
Property and equipment, net	45,778	36,763
Operating lease right-of-use asset	34,743
Goodwill	395,723	394,644
Other intangible assets, net	252,592	259,269
Deferred tax asset	2,167	1,917
Net investment in lease	982	1,060
Other long-term assets	7,195	5,297
Total assets	968,776	927,292
Current Liabilities:
Accrued liabilities	44,353	57,006
Accounts payable	45,995	47,272
Unearned income	12,156	11,527
Income tax payable	6,841	6,650
Current portion of long-term debt	14,250	14,250
Short-term borrowings	15,000
Current portion of operating lease liability	9,458
Total current liabilities	148,053	136,705
Long-term debt	520,771	524,056
Deferred tax liability	9,041	9,950
Unearned income - long term	30,199	26,075
Operating lease liability	25,475
Other long-term liabilities	18,739	14,900
Total liabilities	752,278	711,686
Commitments and contingencies (Note 12)
Stockholders’ equity
Preferred stock, par value $0.01; 2,000,000 shares authorized; none issued	0	0
Common stock, par value $0.01; 206,000,000 shares authorized; 72,267,445 shares issued and outstanding at March 31, 2019 (December 31, 2018 - 72,378,710)	722	723
Additional paid-in capital	0	5,783
Accumulated earnings	237,418	228,742
Accumulated other comprehensive loss, net of tax	(25,879)	(23,789)
Total EVERTEC, Inc. stockholders’ equity	212,261	211,459
Non-controlling interest	4,237	4,147
Total equity	216,498	215,606
Total liabilities and equity	$ 968,776	$ 927,292

Unaudited Consolidated Conden_2

Unaudited Consolidated Condensed Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock authorized (in shares)	2,000,000	2,000,000
Preferred stock issued (in shares)	0	0
Common stock par value (in usd per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	206,000,000	206,000,000
Common stock issued (in shares)	72,267,445	72,378,710
Common stock outstanding (in shares)	72,267,445	72,378,710

Unaudited Consolidated Conden_3

Unaudited Consolidated Condensed Statements of Income and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Revenues	$ 118,836	$ 110,274
Operating costs and expenses
Cost of revenues, exclusive of depreciation and amortization shown below	50,019	47,420
Selling, general and administrative expenses	15,139	13,432
Depreciation and amortization	16,273	15,867
Total operating costs and expenses	81,431	76,719
Income from operations	37,405	33,555
Non-operating income (expenses)
Interest income	259	157
Interest expense	(7,551)	(7,679)
Earnings of equity method investment	222	199
Other income, net	208	817
Total non-operating expenses	(6,862)	(6,506)
Income before income taxes	30,543	27,049
Income tax expense	3,809	3,935
Net income	26,734	23,114
Less: Net income attributable to non-controlling interest	90	92
Net income attributable to EVERTEC, Inc.’s common stockholders	26,644	23,022
Other comprehensive income (loss), net of tax of $384 and $140
Foreign currency translation adjustments	1,965	2,407
(Loss) gain on cash flow hedges	(4,055)	1,503
Total comprehensive income attributable to EVERTEC, Inc.’s common stockholders	$ 24,554	$ 26,932
Net income per common share - basic attributable to EVERTEC, Inc.’s common stockholders (in usd per share)	$ 0.37	$ 0.32
Net income per common share - diluted attributable to EVERTEC, Inc.’s common stockholders (in usd per share)	$ 0.36	$ 0.31

Unaudited Consolidated Conden_4

Unaudited Consolidated Condensed Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Other comprehensive income, income tax (benefit) expense	$ 384	$ 140

Unaudited Consolidated Conden_5

Unaudited Consolidated Condensed Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Earnings	Accumulated Other Comprehensive Loss	Non-Controlling Interest
Beginning balance (in shares) at Dec. 31, 2017		72,393,933
Beginning balance at Dec. 31, 2017	$ 147,976	$ 723	$ 5,350	$ 148,887	$ (10,848)	$ 3,864
Changes in Stockholders’ Equity
Share-based compensation recognized	3,637		3,637
Restricted stock units delivered, net of cashless (in shares)		35,208
Restricted stock units delivered, net of cashless	(204)	$ 1	(205)
Net income	23,114			23,022		92
Other comprehensive income (loss)	3,910				3,910
Ending balance (in shares) at Mar. 31, 2018		72,429,141
Ending balance at Mar. 31, 2018	$ 179,285	$ 724	8,782	172,777	(6,938)	3,940
Beginning balance (in shares) at Dec. 31, 2018	72,378,710	72,378,710
Beginning balance at Dec. 31, 2018	$ 215,606	$ 723	5,783	228,742	(23,789)	4,147
Changes in Stockholders’ Equity
Share-based compensation recognized	3,279		3,279
Repurchase of common stock (in shares)		(618,573)
Repurchase of common stock	(17,486)	$ (6)	(3,129)	(14,351)
Restricted stock units delivered, net of cashless (in shares)		507,308
Restricted stock units delivered, net of cashless	(5,928)	$ 5	(5,933)
Net income	26,734			26,644		90
Cash dividends declared on common stock, $0.05 per share	(3,617)			(3,617)
Other comprehensive income (loss)	$ (2,090)				(2,090)
Ending balance (in shares) at Mar. 31, 2019	72,267,445	72,267,445
Ending balance at Mar. 31, 2019	$ 216,498	$ 722	$ 0	$ 237,418	$ (25,879)	$ 4,237

Unaudited Consolidated Conden_6

Unaudited Consolidated Condensed Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	Feb. 15, 2019	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends declared (in usd per share)	$ 0.05	$ 0.05

Unaudited Consolidated Conden_7

Unaudited Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities
Net income	$ 26,734	$ 23,114
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	16,273	15,867
Amortization of debt issue costs and accretion of discount	415	1,270
Operating lease expense	1,472	0
Provision for doubtful accounts and sundry losses	815	221
Deferred tax benefit	(882)	(1,152)
Share-based compensation	3,279	3,637
Loss on disposition of property and equipment and other intangibles	22	11
Earnings of equity method investment	(222)	(199)
(Increase) decrease in assets:
Accounts receivable, net	3,961	(6,815)
Prepaid expenses and other assets	(5,326)	(5,108)
Other long-term assets	(2,558)	(1,117)
Increase (decrease) in liabilities:
Accounts payable and accrued liabilities	(18,339)	(4,905)
Income tax payable	191	2,716
Unearned income	4,754	2,645
Operating lease liabilities	(1,281)	0
Other long-term liabilities	31	183
Total adjustments	2,605	7,254
Net cash provided by operating activities	29,339	30,368
Cash flows from investing activities
Additions to software	(8,917)	(5,208)
Property and equipment acquired	(5,071)	(4,157)
Proceeds from sales of property and equipment	32	0
Net cash used in investing activities	(13,956)	(9,365)
Cash flows from financing activities
Statutory withholding taxes paid on share-based compensation	(5,928)	(204)
Net increase (decrease) in short-term borrowings	15,000	(12,000)
Repayment of short-term borrowings for purchase of equipment and software	(34)	(114)
Dividends paid	(3,617)	0
Repurchase of common stock	(17,486)	0
Repayment of long-term debt	(3,563)	(5,041)
Net cash used in financing activities	(15,628)	(17,359)
Net (decrease) increase in cash, cash equivalents and restricted cash	(245)	3,644
Cash, cash equivalents and restricted cash at beginning of the period	86,746	60,367
Cash, cash equivalents and restricted cash at end of the period	86,501	64,011
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	73,183	53,471
Restricted cash	13,318	10,540
Cash, cash equivalents and restricted cash	86,746	60,367
Supplemental disclosure of cash flow information:
Cash paid for interest	7,390	6,526
Cash paid for income taxes	3,496	1,074
Operating cash flows from operating leases	1,558	0
Operating cash flows from finance leases	110	0
Supplemental disclosure of non-cash activities:
Payable due to vendor related to equipment and software acquired	$ 6,703	$ 893

The Company and Basis of Presen

The Company and Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
The Company and Basis of Presentation	The Company and Basis of Presentation The Company EVERTEC, Inc. (formerly known as Carib Latam Holdings, Inc.) and its subsidiaries (collectively the “Company,” or “EVERTEC”) is a leading full-service transaction processing business in Latin America and the Caribbean. The Company is based in Puerto Rico and provides a broad range of merchant acquiring, payment processing and business process management. The Company provides services across 26 countries in the region. EVERTEC owns and operates the ATH network, one of the leading debit networks in Latin America. In addition, EVERTEC provides a comprehensive suite of services for core bank processing, cash processing and technology outsourcing in the regions the Company serves. EVERTEC serves a broad and diversified customer base of leading financial institutions, merchants, corporations and government agencies with solutions that are essential to their operations, enabling them to issue, process and accept transactions securely. EVERTEC's common stock is listed under the ticker symbol "EVTC" on the New York Stock Exchange. Basis of Presentation The unaudited consolidated condensed financial statements of EVERTEC have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of the accompanying unaudited consolidated condensed financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited consolidated condensed financial statements. Actual results could differ from these estimates. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted from these statements pursuant to the rules and regulations of the SEC and, accordingly, these consolidated condensed financial statements should be read in conjunction with the Audited Consolidated Financial Statements of the Company for the year ended December 31, 2018 , included in the Company’s Annual Report on Form 10-K. In the opinion of management, the accompanying consolidated condensed financial statements, prepared in accordance with GAAP, contain all adjustments necessary for a fair presentation. Intercompany accounts and transactions are eliminated in consolidation.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently adopted accounting pronouncements In December 2018, SEC Release No. 33-10532, Disclosure Update and Simplification, became effective, amending certain disclosure requirements that were redundant or outdated. The amendments include replacing the requirement to disclose the high and low trading prices of the Company’s common stock with a requirement to disclose the ticker symbol of the common stock. In addition, the amendments expanded the disclosure requirements on the analysis of stockholder’s equity for interim financial statements. Under the amendments, the changes in each caption of stockholder’s equity presented in the balance sheet must be provided in a note or separate statement for the current and comparative year-to date interim periods. The Company adopted the new disclosure requirements in the first quarter of 2019. In February 2016, the Financial Accounting Standards Board (“FASB”) issued updated guidance for leases, codified as Topic 842 , to increase transparency and comparability among organizations by recognizing Right of Use ("ROU") assets and lease liabilities on the balance sheet for all leases, notwithstanding the lease classification. Under the standard, organizations are required to provide disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. For lessors, this amended guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. In January 2018, July 2018 and March 2019, the FASB issued Accounting Standards Update (“ASU”) 2018-01, 2018-10, 2018-11 and 2019-01, to amend narrow aspects of the standard, to add new and optional transition method for the adoption of the standard and provide lessors with a practical expedient, among others. These standards are effective for public reporting companies for annual periods, and interim within annual periods beginning December 15, 2018 and replaced the leasing guidance of Topic 840. The Company adopted the standard effective January 1, 2019 using the modified retrospective transition approach and the transition provisions provided by ASU 2018-11. In addition, the Company applied all the practical expedients available for transition, except for the practical expedient pertaining to land easements, since it was not applicable to the Company. Accordingly, the Company accounted for its existing leases without reassessing whether (a) the contract contains a lease under Topic 842, (b) the lease classification was different in accordance to Topic 842, and (c) initial direct costs before transition met the definition of the new leasing standard. For the lease terms determination, the Company considered all facts and circumstances from the lease contract inception up to the effective date of Topic 842. The Company, as a lessee, changed the characterization of the asset recognized for financing leases to an ROU asset, and the obligation to a lease liability. The Company recognized lease liabilities of $36.2 million , with corresponding ROU assets for the same amount based on the present value of the remaining lease payments of existing operating leases entered into as a lessee with the implementation of the new leasing standard as of January 1, 2019. As a lessor, the Company changed the characterization of the asset recognized for financing leases to a net investment in lease. Results for reporting periods beginning after January 1, 2019 are presented under the new guidance provided by Topic 842, while prior period amounts are not adjusted and continue to be reported in accordance with the Company’s historic accounting under Topic 840. Refer to Note 12, Commitments and Contingencies, for discussions of the implementation of the Topic 842 on the Company’s consolidated condensed financial statements for the period ended March 31, 2019. In June 2018, the FASB issued updated guidance for accounting for non-employee share-based payments. The update was issued as part of the FASB simplification initiative and requires an entity to apply the requirements of Topic 718 to nonemployee awards, with certain exceptions, which were previously accounted under Topic 505. The Company adopted this update in the first quarter of 2019 with no material impact on the financial statements. Any future grants to non-employees will be accounted for under this update. In July 2018, the FASB issued codification improvements for various standards. The amendments represent changes to clarify, correct errors in, or make minor improvements to the codification. Certain amendments included in the update were effective upon issuance of the guidance and the Company adopted them without a material impact on the consolidated condensed financial statements. The remaining guidance improvements with effective dates for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year, were adopted by the Company in the first quarter of 2019, except for the amendments with a later effective date (i.e., Topic 820, Fair Value Measurement), with no material impact on the financial statements. Accounting pronouncements issued prior to 2019 and not yet adopted In June 2016, the FASB issued updated guidance for the measurement of credit losses on financial instruments, which replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This guidance was further clarified and amended by an update issued in November 2018. The update requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses as valuation account is deducted from the amortized cost basis of the financial asset or assets to present the net carrying value at the amount expected to be collected on the financial asset. The measurement of expected credit losses should be based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect collectibility of the reported amount. An entity should use judgment in determining the relevant information and estimation methods that are appropriate to its circumstances. The Company expects to adopt this guidance in the fiscal period required by the update (i.e., fiscal years beginning after December 15, 2019, including interim periods within those fiscal years) and currently continues to evaluate if the adoption will have an impact on its consolidated financial statements. In August 2018, the FASB issued an updated disclosure framework for fair value measurements. The amendments in the issued update remove, modify and add disclosure requirements on fair value measurements in Topic 820 Fair Value Measurements. The amendments in this update are effective to all entities for the fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Certain amendments in the update should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented. Early adoption is permitted upon issuance of this update. An entity is permitted to early adopt any removed or modified disclosures upon issuance of this update and delay adoption of the additional disclosures until their effective date. The Company is currently evaluating the impact of the adoption of this update on the notes to the consolidated financial statements. In August 2018, the FASB issued updated guidance for customer's accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The amendments in this update should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is currently evaluating the impact of the adoption of this update to the consolidated financial statements. In October 2018, the FASB issued updated guidance to improve related party guidance for variable interest entities. The updated guidance requires entities to consider indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest in its entirety when determining whether a decision-making fee is a variable interest. The amendments in this update are effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. These amendments should be applied retrospectively with a cumulative-effect adjustment to retained earnings at the beginning of the earliest period presented. The Company does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. In November 2018, the FASB issued updated guidance to clarify the interaction between the guidance for collaborative arrangements and the updated revenue recognition guidance. The amendments in this update, among other things, provide guidance on how to assess whether certain collaborative arrangement transactions should be accounted for under Topic 606. The amendments in this update are effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements.

Property and Equipment, net

Property and Equipment, net	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net Property and equipment, net consists of the following: (Dollar amounts in thousands) Useful life March 31, 2019 December 31, 2018 Buildings 30 $ 1,436 $ 1,440 Data processing equipment 3 - 5 123,802 110,673 Furniture and equipment 3 - 20 7,667 7,761 Leasehold improvements 5 -10 2,638 2,625 135,543 122,499 Less - accumulated depreciation and amortization (91,036 ) (86,990 ) Depreciable assets, net 44,507 35,509 Land 1,271 1,254 Property and equipment, net $ 45,778 $ 36,763 Depreciation and amortization expense related to property and equipment for the three months ended March 31, 2019 amounted to $4.0 million compared to $3.6 million for the same period in 2018 .

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill, allocated by operating segments, were as follows (See Note 14): (In thousands) Payment Payment Merchant Business Total Balance at December 31, 2018 $ 160,972 $ 49,728 $ 138,121 $ 45,823 $ 394,644 Foreign currency translation adjustments — 1,079 — — 1,079 Balance at March 31, 2019 $ 160,972 $ 50,807 $ 138,121 $ 45,823 $ 395,723 Goodwill is tested for impairment on an annual basis as of August 31, or more often if events or changes in circumstances indicate there may be impairment. The Company may test for goodwill impairment using a qualitative or a quantitative analysis. In the quantitative analysis, the Company compares the estimated fair value of the reporting units to their carrying values, including goodwill. If the fair value of the reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired. If the fair value does not exceed the carrying value, an impairment loss equaling the excess amount is recorded, limited to the recorded balance of goodwill. No impairment losses were recognized for the three months ended March 31, 2019 or 2018 . The carrying amount of other intangible assets at March 31, 2019 and December 31, 2018 was as follows: March 31, 2019 (Dollar amounts in thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 14 $ 342,891 $ (201,038 ) $ 141,853 Trademark 2 - 15 41,495 (29,781 ) 11,714 Software packages 3 - 10 230,114 (155,588 ) 74,526 Non-compete agreement 15 56,539 (32,040 ) 24,499 Other intangible assets, net $ 671,039 $ (418,447 ) $ 252,592 December 31, 2018 (Dollar amounts in thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 14 $ 342,738 $ (194,570 ) $ 148,168 Trademark 2 - 15 41,357 (28,888 ) 12,469 Software packages 3 - 10 224,855 (151,666 ) 73,189 Non-compete agreement 15 56,539 (31,096 ) 25,443 Other intangible assets, net $ 665,489 $ (406,220 ) $ 259,269 For both the three months ended March 31, 2019 and 2018, the Company recorded amortization expense related to other intangibles of $12.2 million . The estimated amortization expense of the balances outstanding at March 31, 2019 for the next five years is as follows: (Dollar amounts in thousands) Remaining 2019 $ 36,798 2020 40,633 2021 35,497 2022 31,868 2023 30,245

Debt and Short-Term Borrowings

Debt and Short-Term Borrowings	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt and Short-Term Borrowings	Debt and Short-Term Borrowings Total debt at March 31, 2019 and December 31, 2018 follows: (In thousands) March 31, 2019 December 31, 2018 Secured Credit Facility (2023 Term A) due on November 27, 2023 paying interest at a variable interest rate (LIBOR plus applicable margin (1)(2) ) 215,157 217,791 Senior Secured Credit Facility (2024 Term B) due on November 27, 2024 paying interest at a variable interest rate (LIBOR plus applicable margin (2)(3) ) 319,864 320,515 Senior Secured Revolving Credit Facility (1) 15,000 — Note Payable due on April 30, 2021 (2) 269 300 Note Payable due on December 28, 2019 $ 6,434 $ — Total debt $ 556,724 $ 538,606 (1) Applicable margin of 2.00% at March 31, 2019 and 2.25% at December 31, 2018 . (2) Net of unaccreted discount and unamortized debt issue costs, as applicable. (3) Subject to a minimum rate ("LIBOR floor") of 0% plus applicable margin of 3.50% at March 31, 2019 and December 31, 2018 . 2018 Secured Credit Facilities On November 27, 2018, EVERTEC and EVERTEC Group (“Borrower”) entered into a credit agreement governing the secured credit facilities, consisting of a $220.0 million term loan A facility that matures on November 27, 2023 (“2023 Term A”), a $325.0 million term loan B facility that matures on November 27, 2024 (“2024 Term B”) and a $125.0 million revolving credit facility (the “Revolving Facility”) that matures on November 27, 2023, with a syndicate of lenders and Bank of America, N.A. (“Bank of America”), as administrative agent, collateral agent, swingline lender and line of credit issuer (collectively the “2018 Credit Agreement”). The unpaid principal balance at March 31, 2019 of the 2023 Term A Loan and the 2024 Term B Loan was $217.3 million and $324.2 million , respectively. The additional borrowing capacity for the Revolving Facility at March 31, 2019 was $82.9 million . The Company issues letters of credit against the Revolving Facility which reduce the additional borrowing capacity of the Revolving Facility. Notes payable In May 2016, EVERTEC Group entered into a non-interest bearing financing agreement amounting to $0.7 million to purchase software. As of both March 31, 2019 and December 31, 2018 , the outstanding principal balance of the note payable was $0.3 million . The current portion of this note is recorded as part of accounts payable and the long-term portion is included in other long-term liabilities. In January 2019, EVERTEC Group entered into a non-interest bearing financing agreement amounting to $10.0 million to purchase data processing equipment and maintenance. As of March 31, 2019 , the outstanding principal balance of the note payable was $6.4 million , recorded as part of accounts payable. Interest Rate Swaps At March 31, 2019 , the Company has two interest rate swap agreements, entered in December 2015 and December 2018, which convert a portion of the interest rate payments on the Company's 2024 Term B Loan from variable to fixed: Swap Agreement Effective date Maturity Date Notional Amount Variable Rate Fixed Rate 2015 Swap January 2017 April 2020 $200 million 1-month LIBOR 1.9225% 2018 Swap April 2020 November 2024 $250 million 1-month LIBOR 2.89% The Company has accounted for these transactions as cash flow hedges. At March 31, 2019 and December 31, 2018 , the carrying amount of the derivatives on the Company’s balance sheets is as follows: (In thousands) March 31, 2019 December 31, 2018 Other long-term assets $ 1,032 $ 1,683 Other long-term liabilities $ 7,851 $ 4,059 During the three months ended March 31, 2019 , the Company reclassified gains of $0.3 million from accumulated other comprehensive loss into income through interest expense. Based on current LIBOR rates, the Company expects to reclassify gains of $1.0 million from accumulated other comprehensive loss into income through interest expense over the next 12 months. Refer to Note 6 for tabular disclosure of the fair value of derivatives and to Note 7 for tabular disclosure of gains recorded on cash flow hedging activities. The cash flow hedges are considered highly effective.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	Financial Instruments and Fair Value Measurements Recurring Fair Value Measurements Fair value measurement provisions establish a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. These provisions describe three levels of input that may be used to measure fair value: Level 1 : Inputs are unadjusted, quoted prices for identical assets or liabilities in an active market at the measurement date. Level 2 : Inputs, other than quoted prices included in Level 1, which are observable for the asset or liability through corroboration with market data at the measurement date. Level 3 : Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. The Company uses observable inputs when available. Fair value is based upon quoted market prices when available. If market prices are not available, the Company may employ models that mostly use market-based inputs including yield curves, interest rates, volatilities, and credit curves, among others. The Company limits valuation adjustments to those deemed necessary to ensure that the financial instrument’s fair value adequately represents the price that would be received or paid in the marketplace. Valuation adjustments may include consideration of counterparty credit quality and liquidity as well as other criteria. The estimated fair value amounts are subjective in nature and may involve uncertainties and matters of significant judgment for certain financial instruments. Changes in the underlying assumptions used in estimating fair value could affect the results. The fair value measurement levels are not indicative of risk of investment. The fair value of financial instruments is 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. Fair value estimates are made at a specific point in time based on the type of financial instrument and relevant market information. Many of these estimates involve various assumptions and may vary significantly from amounts that could be realized in actual transactions. The following table summarizes the fair value measurement by level at March 31, 2019 and December 31, 2018 for the asset measured at fair value on a recurring basis: (In thousands) Level 1 Level 2 Level 3 Total March 31, 2019 Financial asset: Interest rate swap $ — $ 1,032 $ — $ 1,032 Financial liability: Interest rate swap — 7,851 — 7,851 December 31, 2018 Financial asset: Interest rate swap $ — $ 1,683 $ — $ 1,683 Financial liability: Interest rate swap — 4,059 — 4,059 The following table presents the carrying value, as applicable, and estimated fair values for financial instruments at March 31, 2019 and December 31, 2018 : March 31, 2019 December 31, 2018 (In thousands) Carrying Fair Carrying Fair Financial assets: Interest rate swap $ 1,032 $ 1,032 $ 1,683 $ 1,683 Financial liabilities: Interest rate swap 7,851 7,851 4,059 4,059 2023 Term A 215,157 214,806 217,791 218,625 2024 Term B 319,864 323,377 320,515 319,517 The fair values of the term loans at March 31, 2019 and December 31, 2018 were obtained using the prices provided by third party service providers. Their pricing is based on various inputs such as: market quotes, recent trading activity in a non-active market or imputed prices. Also, the pricing may include the use of an algorithm that could take into account movement in the general high yield market, among other variants. The secured term loans, which are not measured at fair value in the balance sheets, would be categorized as Level 3 in the fair value hierarchy.

Equity

Equity	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Equity	Equity Accumulated Other Comprehensive Loss The following table provides a summary of the changes in the balances of accumulated other comprehensive loss for the three months period ended March 31, 2019 : (In thousands) Foreign Currency Cash Flow Hedges Total Balance - December 31, 2018, net of tax $ (21,626 ) $ (2,163 ) $ (23,789 ) Other comprehensive income (loss) before reclassifications 1,965 (3,773 ) (1,808 ) Effective portion reclassified to Net Income — (282 ) (282 ) Balance - March 31, 2019, net of tax $ (19,661 ) $ (6,218 ) $ (25,879 )

Share-based Compensation

Share-based Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation	Share-based Compensation Long-term Incentive Plan ("LTIP") In the first quarter of 2017, 2018 and 2019, the Compensation Committee of the Company's Board of Directors ("Board") approved grants of restricted stock units (“RSUs”) to executives and certain employees pursuant to the 2017 LTIP, 2018 LTIP and 2019 LTIP, respectively, all under the terms of our 2013 Equity Incentive Plan. Under the LTIPs, the Company granted restricted stock units to eligible participants as time-based awards and/or performance-based awards. The vesting of the RSUs is dependent upon service, market, and/or performance conditions as defined in the grants. Employees that received time-based awards with service conditions are entitled to receive a specific number of shares of the Company’s common stock on the vesting date if the employee is providing services to the Company on the vesting date. Time-based awards vest over a period of three years in substantially equal installments commencing on the grant date and ending on February 24 of each year for the 2017 LTIP, February 28 of each year for the 2018 LTIP, and February 22 of each year for the 2019 LTIP. For the performance-based awards under the 2017 LTIP, 2018 LTIP, and 2019 LTIP, the Compensation Committee established adjusted earnings before income taxes, depreciation and amortization ("Adjusted EBITDA") as the primary performance measure while maintaining focus on total shareholder return through the use of a market-based total shareholder return ("TSR") performance modifier. The TSR modifier adjusts the shares earned based on the core Adjusted EBITDA performance upwards or downwards (+/- 25% ) based on the Company’s relative TSR at the end of the three -year performance period as compared to the companies in the Russell 2000 Index. The Adjusted EBITDA performance measure will be calculated for the one -year period commencing on January 1 of the year of the grant and ending on December 31 of the same year, relative to the goals set by the Compensation Committee for this same period. The shares earned will be subject to a further two -year service vesting period. Performance and market-based awards vest at the end of the performance period that commenced on February 24, 2017 for the 2017 LTIP, February 28, 2018 for the 2018 LTIP, and February 22, 2019 for the 2019 LTIP. The periods end on February 24, 2020 for the 2017 LTIP, February 28, 2021 for the 2018 LTIP, and February 22, 2022 for the 2019 LTIP. Unless otherwise specified in the award agreement, or in an employment agreement, awards are forfeited if the employee voluntarily ceases to be employed by the Company prior to vesting. The following table summarizes nonvested restricted shares and RSUs activity for the three months ended March 31, 2019 : Nonvested restricted shares and RSUs Shares Weighted-average Nonvested at December 31, 2018 2,036,163 $ 15.09 Vested (715,251 ) 28.50 Granted 432,216 18.16 Nonvested at March 31, 2019 1,753,128 $ 18.18 For the three months ended March 31, 2019 , the Company recognized $3.3 million of share based compensation expense compared with $3.6 million for the same period in 2018 . As of March 31, 2019 , the maximum unrecognized cost for restricted stock and RSUs was $23.2 million . The cost is expected to be recognized over a weighted average period of 2.1 years.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Summary of Revenue Recognition Accounting Policy The Company's revenue recognition policy follows the guidance from Accounting Standards Codification ("ASC") 606 Revenue from Contracts with Customers , which provides guidance on the recognition, presentation and disclosure of revenue in consolidated financial statements. Revenue is measured on the consideration specified in a contract with a customer. Once the Company determines a contract's performance obligations and the transaction price, including an estimate of any variable consideration, the Company allocates the transaction price to each performance obligation in the contract using a stand-alone selling price. The Company recognizes revenue when it satisfies a performance obligation by transferring control of a product or service to a customer. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. At contract inception, the Company assesses the goods and service promised in the contract with a customer and identifies a performance obligation for each promise to transfer to the customer a good or service (or bundle of goods or services) that is distinct. To identify the performance obligations, the Company considers all the goods or services promised in the contract regardless of whether they are explicitly stated or implied. Payment for the Company's contracts with customers are typically due in full within 30 days of invoice date. Disaggregation of revenue The Company disaggregates revenue from contracts with customers into primary geographical markets, nature of the products and services, and timing of transfer of goods and services. The Company's operating segments are determined by the nature of the products and services the Company provides and the primary geographical markets in which the Company operates. Revenue disaggregated by segment is discussed in Note 14, Segment Information. In the following table, revenue is disaggregated by timing of revenue recognition for the three months ended March 31, 2019 and 2018. Three months ended March 31, 2019 (In thousands) Payment Services - Puerto Rico & Caribbean Payment Services - Latin America Merchant Acquiring, net Business Solutions Total Timing of revenue recognition Products and services transferred at a point in time $ 2,677 $ 70 $ — $ 877 $ 3,624 Products and services transferred over time 20,073 18,678 25,974 50,487 115,212 $ 22,750 $ 18,748 $ 25,974 $ 51,364 $ 118,836 Three months ended March 31, 2018 (In thousands) Payment Services - Puerto Rico & Caribbean Payment Services - Latin America Merchant Acquiring, net Business Solutions Total Timing of revenue recognition Products and services transferred at a point in time $ 126 $ 392 $ — $ 973 $ 1,491 Products and services transferred over time 18,457 19,999 23,379 46,948 108,783 18,583 20,391 23,379 47,921 110,274 Contract balances The following table provides information about contract assets from contracts with customers. (In thousands) March 31, 2019 Balance at beginning of period $ 996 Services transferred to customers 49 Transfers to accounts receivable (151 ) March 31, 2019 $ 894 The current portion of contract assets is recorded as part of prepaid expenses and other assets and the long-term portion is included in other long-term assets. Accounts receivable, net at March 31, 2019 amounted to $96.3 million . Unearned income and Unearned income - Long term, which refer to contract liabilities, at March 31, 2019 amounted to $12.2 million and $30.2 million , respectively, and generally arise when consideration is received or due in advance from customers prior to performance. Unearned income is mainly related to upfront fees for implementation or set up activities, including fees charged in pre-production periods in connection with managed services. During the three months ended March 31, 2019 , the Company recognized revenue of $6.1 million that was included in unearned income at December 31, 2018 . During the three months ended March 31, 2018 , the Company recognized revenue of $3.7 million that was included in unearned income at December 31, 2017 . The estimated aggregate amount of the transaction price allocated to performance obligations that are unsatisfied or partially satisfied at March 31, 2019 is $267.6 million . This amount primarily consists of professional service fees for implementation or set up activities related to managed services and maintenance services, typically recognized over the life of the contract, which vary from 2 to 5 years. It also includes professional service fees for customizations or development of on-premise licensing agreements, which are recognized over time based on inputs relative to the total expected inputs to satisfy a performance obligation.

Income Tax

Income Tax	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Tax	Income Tax The components of income tax expense for the three months ended March 31, 2019 and 2018 , respectively, consisted of the following: Three months ended (In thousands) 2019 2018 Current tax provision $ 4,691 $ 5,087 Deferred tax benefit (882 ) (1,152 ) Income tax expense $ 3,809 $ 3,935 The Company conducts operations in Puerto Rico and certain countries in Latin America. As a result, the income tax expense includes the effect of taxes paid to the Puerto Rico government as well as foreign jurisdictions. The following table presents the components of income tax expense for the three months ended March 31, 2019 and 2018 , and its segregation based on location of operations: Three months ended March 31, (In thousands) 2019 2018 Current tax provision Puerto Rico $ 1,813 $ 2,399 United States 112 80 Foreign countries 2,766 2,608 Total current tax provision $ 4,691 $ 5,087 Deferred tax benefit Puerto Rico $ (476 ) $ (839 ) United States (372 ) (87 ) Foreign countries (34 ) (226 ) Total deferred tax benefit $ (882 ) $ (1,152 ) Taxes payable to foreign countries by EVERTEC’s subsidiaries will be paid by such subsidiary and the corresponding liability and expense will be presented in EVERTEC’s consolidated financial statements. As of March 31, 2019 , the Company has $51.1 million of unremitted earnings from foreign subsidiaries. The Company has not recognized a deferred tax liability on undistributed earnings for the Company’s foreign subsidiaries because these earnings are intended to be indefinitely reinvested. As of March 31, 2019 , the gross deferred tax asset amounted to $12.6 million and the gross deferred tax liability amounted to $19.5 million , compared to $10.8 million and $18.8 million , respectively, as of December 31, 2018 .

Net Income Per Common Share

Net Income Per Common Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Net Income Per Common Share	Net Income Per Common Share The reconciliation of the numerator and denominator of the income per common share is as follows: Three months ended March 31, (Dollar amounts in thousands, except per share information) 2019 2018 Net income attributable to EVERTEC, Inc.’s common stockholders $ 26,644 $ 23,022 Less: non-forfeitable dividends on restricted stock 6 14 Net income available to EVERTEC, Inc.’s common shareholders $ 26,638 $ 23,008 Weighted average common shares outstanding 72,378,532 72,409,462 Weighted average potential dilutive common shares (1) 1,391,534 963,373 Weighted average common shares outstanding - assuming dilution 73,770,066 73,372,835 Net income per common share - basic $ 0.37 $ 0.32 Net income per common share - diluted $ 0.36 $ 0.31 (1) Potential common shares consist of common stock issuable under the assumed release of restricted stock awards using the treasury stock method. On February 15, 2019, the Board declared a quarterly cash dividend of $0.05 per share of common stock, which was paid on March 22, 2019 to stockholders of record as of the close of business on February 26, 2019.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies EVERTEC is a defendant in a number of legal proceedings arising in the ordinary course of business. Based on the opinion of legal counsel and other factors, Management believes that the final disposition of these matters will not have a material adverse effect on the business, results of operations, financial condition, or cash flows of the Company. The Company has identified certain claims as a result of which a loss may be incurred, but in the aggregate the loss would be insignificant. For other claims regarding proceedings that are in an initial phase, the Company is unable to estimate the range of possible loss, if any, but at this time believes that any loss related to such claims will not be material. Leases The Company’s leases accounting policy follows the guidance from Accounting Standards Codification (“ASC”) 842, Leases, which provides guidance on the recognition, presentation and disclosure of leases in consolidated condensed financial statements. The Company determines if an arrangement is or contains a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease payable, and operating lease liabilities in the consolidated condensed balance sheet. Finance leases are included in property and equipment, accrued liabilities, and other long-term liabilities in the consolidated condensed balance sheet. ROU assets and lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. As most of the Company’s leases do not provide an implicit rate, Management used the Company’s collateralized incremental borrowing rate (“IBR”) based on the information available at commencement date in determining the present value of future payments. The lease terms may include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. We monitor events or changes in circumstances that change the timing or amount of future lease payments which results in the remeasurement of a lease liability, with a corresponding adjustment to the ROU asset. The lease payment terms may include fixed payment terms and variable payments. Fixed payment terms and variable payments that depend on an index (i.e., Consumer Price Index or “CPI”) or rate are considered in the determination of the operating lease liabilities. While lease liabilities are not remeasured because of changes to the CPI, changes are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred. Variable payments that do not depend on an index or rate are not included in the lease liabilities determination. Rather, these payments are recognized as variable lease expense when incurred. Variable lease payments are included within operating costs and expenses in the consolidated condensed statement of income and comprehensive income. For operating leases, lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. For finance leases, lease expense is composed of interest expense and amortization expense. The lease liability of these leases is measured using the interest rate method. The ROU asset from financing leases are amortized on a straight-line basis, as part of Property and Equipment, net. The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease component. The Company elected the practical expedient of not separating lease and related non-lease components for all classes of underlying assets (i.e., building and equipment). The Company also elected as an accounting policy to not recognize lease liabilities and ROU assets for any future short-term leases (i.e., leases with a lease term of 12 months or less). The Company has operating leases for certain office facilities, buildings, telecommunications and other equipment; and finance leases for certain equipment. The Company’s lease contracts have remaining terms ranging from 1 year to 10 years , some of which may include options to extend the leases for up to 5 years , and some which may include the option to terminate the lease within 1 year . As of March 31, 2019, equipment leases classified as finance leases, which are included within Property and Equipment, net, were $1.6 million , net of accumulated depreciation. Total lease cost for the three months ended March 31, 2019, was as follows: (in thousands) Operating lease cost $ 1,923 Finance lease cost Amortization of right-of-use assets 67 Interest on lease liabilities 8 Variable lease cost 714 $ 2,712 Other information related to leases, for the three months ended March 31, 2019, was as follows: (In thousands) Right-of-use assets obtained in exchange for operating lease obligations: $ 140 Weighted average remaining lease term, in years Operating leases 7 Finance leases 2 Weighted Average Discount Rate Operating leases 4.8 % Finance leases 4.3 % Future minimum lease payments under leases as of March 31, 2019 were as follows: (In thousands) Operating Leases Finance Leases Remainder of 2019 $ 4,651 $ 324 2020 5,853 328 2021 5,773 34 2022 5,579 — 2023 and thereafter 17,504 — Total future minimum lease payments 39,360 686 Less: imputed interest (4,427 ) (19 ) $ 34,933 $ 667 Reported as of March 31, 2019 Accrued liabilities $ — $ 410 Operating lease payable 9,458 — Operating lease liabilities - long term 25,475 — Other long-term liabilities — 257 $ 34,933 $ 667

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The following table presents the Company’s transactions with related parties for the three months ended March 31, 2019 and 2018 : Three months ended March 31, (Dollar amounts in thousands) 2019 2018 Total revenues (1)(2) $ 49,030 $ 45,535 Cost of revenues $ 523 $ 384 Operating lease cost and other fees $ 2,128 $ 1,963 Interest earned from affiliate Interest income $ 28 $ 32 (1) Popular revenues as a percentage of total revenues were 41% for each of the periods presented above. (2) Includes revenues generated from investee accounted for under the equity method of $0.3 million for each the periods presented above. At March 31, 2019 and December 31, 2018 , EVERTEC had the following balances arising from transactions with related parties: (Dollar amounts in thousands) March 31, 2019 December 31, 2018 Cash and restricted cash deposits in affiliated bank $ 27,447 $ 29,136 Other due/to from affiliate Accounts receivable $ 30,984 $ 25,714 Prepaid expenses and other assets $ 4,019 $ 2,796 Operating lease right-of use assets $ 24,105 $ — Other long-term assets $ 130 $ 166 Accounts payable $ 6,353 $ 6,344 Unearned income $ 30,915 $ 25,401 Operating lease liabilities $ 24,182 $ —

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information The Company operates in four business segments: Payment Services - Puerto Rico & Caribbean, Payment Services - Latin America, Merchant Acquiring, and Business Solutions. The Payment Services - Puerto Rico & Caribbean segment revenues are comprised of revenues related to providing access to the ATH debit network and other card networks to financial institutions, including related services such as authorization, processing, management and recording of ATM and point of sale ("POS") transactions, and ATM management and monitoring. The segment revenues also include revenues from card processing services (such as credit and debit card processing, authorization and settlement and fraud monitoring and control to debit or credit issuers), payment processing services (such as payment and billing products for merchants, businesses and financial institutions) and EBT (which principally consist of services to the government of Puerto Rico for the delivery of benefits to participants). For ATH debit network and processing services, revenues are primarily driven by the number of transactions processed. Revenues are derived primarily from network fees, transaction switching and processing fees, and the leasing of POS devices. For card issuer processing, revenues are primarily dependent upon the number of cardholder accounts on file, transactions and authorizations processed, the number of cards embossed and other processing services. For EBT services, revenues are primarily derived from the number of beneficiaries on file. The Payment Services - Latin America segment revenues consist of revenues related to providing access to the ATH network and other card networks to financial institutions, including related services such as authorization, processing, management and recording of ATM and POS transactions, and ATM management and monitoring. The segment revenues also include revenues from card processing services (such as credit and debit card processing, authorization and settlement and fraud monitoring and control to debit or credit issuers), payment processing services (such as payment and billing products for merchants, businesses and financial institutions), as well as, licensed software solutions for risk and fraud management and card payment processing. For ATH debit network and processing services, revenues are primarily driven by the number of transactions processed. Revenues are derived primarily from network fees, transaction switching and processing fees, and the leasing of POS devices. For card issuer processing, revenues are primarily dependent upon the number of cardholder accounts on file, transactions and authorizations processed, the number of cards embossed and other processing services. The Merchant Acquiring segment consists of revenues from services that allow merchants to accept electronic methods of payment. In the Merchant Acquiring segment, revenues include a discount fee and membership fees charged to merchants, debit network fees and rental fees from POS devices and other equipment, net of credit card interchange and assessment fees charged by credit cards associations (such as VISA or MasterCard) or payment networks. The discount fee is generally a percentage of the transaction value. EVERTEC also charges merchants for other services that are unrelated to the number of transactions or the transaction value. The Business Solutions segment consists of revenues from a full suite of business process management solutions in various product areas such as core bank processing, network managed services, IT professional services, business process outsourcing, item processing, cash processing, and fulfillment. Core bank processing and network services revenues are derived in part from a recurrent fixed fee and from fees based on the number of accounts on file (i.e. savings or checking accounts, loans, etc.) or computer resources utilized. Revenues from other processing services within the Business Solutions segment are generally volume-based and depend on factors such as the number of accounts processed. In addition, EVERTEC is a reseller of hardware and software products and these resale transactions are generally non-recurring. In addition to the four operating segments described above, Management identified certain functional cost areas that operate independently and do not constitute businesses in themselves. These areas could neither be concluded as operating segments nor could they be combined with any other operating segments. Therefore, these areas are aggregated and presented as “Corporate and Other” category in the financial statements alongside the operating segments. The Corporate and other category consists of corporate overhead expenses, intersegment eliminations, certain leveraged activities and other non-operating and miscellaneous expenses that are not included in the operating segments. The overhead and leveraged costs relate to activities such as: • marketing, • corporate finance and accounting, • human resources, • legal, • risk management functions, • internal audit, • corporate debt related costs, • non-operating depreciation and amortization expenses generated as a result of merger and acquisition activity, • intersegment revenues and expenses, and • other non-recurring fees and expenses that are not considered when management evaluates financial performance at a segment level The Chief Operating Decision Maker ("CODM") reviews the operating segments separate financial information to assess performance and to allocate resources. Management evaluates the operating results of each of its operating segments based upon revenues and Adjusted Earnings before Interest, Taxes, Depreciation and Amortization ("Adjusted EBITDA"). Adjusted EBITDA is defined as EBITDA further adjusted to exclude unusual items and other adjustments. Adjusted EBITDA, as it relates to operating segments, is presented in conformity with Accounting Standards Codification Topic 280, "Segment Reporting" given that it is reported to the CODM for purposes of allocating resources. Segment asset disclosure is not used by the CODM as a measure of segment performance since the segment evaluation is driven by revenues and adjusted EBITDA performance. As such, segment assets are not disclosed in the notes to the accompanying consolidated financial statements. The following tables set forth information about the Company’s operations by its four business segments for the periods indicated: Three months ended March 31, 2019 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 32,017 $ 20,831 $ 25,974 $ 51,364 $ (11,350 ) $ 118,836 Operating costs and expenses 14,215 17,573 14,718 32,910 2,015 81,431 Depreciation and amortization 2,643 2,196 468 3,854 7,112 16,273 Non-operating income (expenses) 581 2,634 21 186 (2,992 ) 430 EBITDA 21,026 8,088 11,745 22,494 (9,245 ) 54,108 Compensation and benefits (2) 237 166 220 554 2,262 3,439 Transaction, refinancing and other fees (3) — 2 — — 47 49 Adjusted EBITDA $ 21,263 $ 8,256 $ 11,965 $ 23,048 $ (6,936 ) $ 57,596 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $9.2 million processing fee from the Payments Services - Puerto Rico & Caribbean segment to the Merchant Acquiring segment, intercompany software sale and developments of $2.1 million from the Payment Services - Latin America segment charged to the Payment Services - Puerto Rico & Caribbean segment. Corporate and Other was impacted by the intersegment elimination of revenue recognized in the Payment Services - Latin America segment and capitalized in the Payment Services - Puerto Rico & Caribbean segment; excluding this impact, Corporate and Other Adjusted EBITDA would be $4.8 million . (2) Primarily represents share-based compensation, other compensation expense and severance payments. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the Credit Agreement and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A. Three months ended March 31, 2018 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 27,168 $ 20,391 $ 23,379 $ 47,921 $ (8,585 ) $ 110,274 Operating costs and expenses 12,933 18,060 13,141 29,015 3,570 76,719 Depreciation and amortization 2,316 2,449 420 3,519 7,163 15,867 Non-operating income (expenses) 816 1,813 4 300 (1,917 ) 1,016 EBITDA 17,367 6,593 10,662 22,725 (6,909 ) 50,438 Compensation and benefits (2) 193 400 190 440 2,606 3,829 Transaction, refinancing and other fees (3) (250 ) — — — (49 ) (299 ) Adjusted EBITDA $ 17,310 $ 6,993 $ 10,852 $ 23,165 $ (4,352 ) $ 53,968 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $8.6 million processing fee from the Payments Services - Puerto Rico & Caribbean segment to the Merchant Acquiring segment. (2) Primarily represents share-based compensation, other compensation expense and severance payments. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the Credit Agreement and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A., The reconciliation of EBITDA to consolidated net income is as follows: Three months ended March 31, (In thousands) 2019 2018 Total EBITDA $ 54,108 $ 50,438 Less: Income tax expense 3,809 3,935 Interest expense, net 7,292 7,522 Depreciation and amortization 16,273 15,867 Net Income $ 26,734 $ 23,114

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On April 25, 2019 , the Board declared a regular quarterly cash dividend of $0.05 per share on the Company’s outstanding shares of common stock. The dividend will be paid on June 7, 2019 to stockholders of record as of the close of business on May 6, 2019 . The Board anticipates declaring this dividend in future quarters on a regular basis; however future declarations of dividends are subject to the Board’s approval and may be adjusted as business needs or market conditions change.

The Company and Basis of Pres_2

The Company and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
The Company	The Company EVERTEC, Inc. (formerly known as Carib Latam Holdings, Inc.) and its subsidiaries (collectively the “Company,” or “EVERTEC”) is a leading full-service transaction processing business in Latin America and the Caribbean. The Company is based in Puerto Rico and provides a broad range of merchant acquiring, payment processing and business process management. The Company provides services across 26 countries in the region. EVERTEC owns and operates the ATH network, one of the leading debit networks in Latin America. In addition, EVERTEC provides a comprehensive suite of services for core bank processing, cash processing and technology outsourcing in the regions the Company serves. EVERTEC serves a broad and diversified customer base of leading financial institutions, merchants, corporations and government agencies with solutions that are essential to their operations, enabling them to issue, process and accept transactions securely.
Basis of Presentation	Basis of Presentation The unaudited consolidated condensed financial statements of EVERTEC have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of the accompanying unaudited consolidated condensed financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited consolidated condensed financial statements. Actual results could differ from these estimates. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted from these statements pursuant to the rules and regulations of the SEC and, accordingly, these consolidated condensed financial statements should be read in conjunction with the Audited Consolidated Financial Statements of the Company for the year ended December 31, 2018 , included in the Company’s Annual Report on Form 10-K. In the opinion of management, the accompanying consolidated condensed financial statements, prepared in accordance with GAAP, contain all adjustments necessary for a fair presentation. Intercompany accounts and transactions are eliminated in consolidation.
Recent Accounting Pronouncements	Recently adopted accounting pronouncements In December 2018, SEC Release No. 33-10532, Disclosure Update and Simplification, became effective, amending certain disclosure requirements that were redundant or outdated. The amendments include replacing the requirement to disclose the high and low trading prices of the Company’s common stock with a requirement to disclose the ticker symbol of the common stock. In addition, the amendments expanded the disclosure requirements on the analysis of stockholder’s equity for interim financial statements. Under the amendments, the changes in each caption of stockholder’s equity presented in the balance sheet must be provided in a note or separate statement for the current and comparative year-to date interim periods. The Company adopted the new disclosure requirements in the first quarter of 2019. In February 2016, the Financial Accounting Standards Board (“FASB”) issued updated guidance for leases, codified as Topic 842 , to increase transparency and comparability among organizations by recognizing Right of Use ("ROU") assets and lease liabilities on the balance sheet for all leases, notwithstanding the lease classification. Under the standard, organizations are required to provide disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. For lessors, this amended guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. In January 2018, July 2018 and March 2019, the FASB issued Accounting Standards Update (“ASU”) 2018-01, 2018-10, 2018-11 and 2019-01, to amend narrow aspects of the standard, to add new and optional transition method for the adoption of the standard and provide lessors with a practical expedient, among others. These standards are effective for public reporting companies for annual periods, and interim within annual periods beginning December 15, 2018 and replaced the leasing guidance of Topic 840. The Company adopted the standard effective January 1, 2019 using the modified retrospective transition approach and the transition provisions provided by ASU 2018-11. In addition, the Company applied all the practical expedients available for transition, except for the practical expedient pertaining to land easements, since it was not applicable to the Company. Accordingly, the Company accounted for its existing leases without reassessing whether (a) the contract contains a lease under Topic 842, (b) the lease classification was different in accordance to Topic 842, and (c) initial direct costs before transition met the definition of the new leasing standard. For the lease terms determination, the Company considered all facts and circumstances from the lease contract inception up to the effective date of Topic 842. The Company, as a lessee, changed the characterization of the asset recognized for financing leases to an ROU asset, and the obligation to a lease liability. The Company recognized lease liabilities of $36.2 million , with corresponding ROU assets for the same amount based on the present value of the remaining lease payments of existing operating leases entered into as a lessee with the implementation of the new leasing standard as of January 1, 2019. As a lessor, the Company changed the characterization of the asset recognized for financing leases to a net investment in lease. Results for reporting periods beginning after January 1, 2019 are presented under the new guidance provided by Topic 842, while prior period amounts are not adjusted and continue to be reported in accordance with the Company’s historic accounting under Topic 840. Refer to Note 12, Commitments and Contingencies, for discussions of the implementation of the Topic 842 on the Company’s consolidated condensed financial statements for the period ended March 31, 2019. In June 2018, the FASB issued updated guidance for accounting for non-employee share-based payments. The update was issued as part of the FASB simplification initiative and requires an entity to apply the requirements of Topic 718 to nonemployee awards, with certain exceptions, which were previously accounted under Topic 505. The Company adopted this update in the first quarter of 2019 with no material impact on the financial statements. Any future grants to non-employees will be accounted for under this update. In July 2018, the FASB issued codification improvements for various standards. The amendments represent changes to clarify, correct errors in, or make minor improvements to the codification. Certain amendments included in the update were effective upon issuance of the guidance and the Company adopted them without a material impact on the consolidated condensed financial statements. The remaining guidance improvements with effective dates for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year, were adopted by the Company in the first quarter of 2019, except for the amendments with a later effective date (i.e., Topic 820, Fair Value Measurement), with no material impact on the financial statements. Accounting pronouncements issued prior to 2019 and not yet adopted In June 2016, the FASB issued updated guidance for the measurement of credit losses on financial instruments, which replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This guidance was further clarified and amended by an update issued in November 2018. The update requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses as valuation account is deducted from the amortized cost basis of the financial asset or assets to present the net carrying value at the amount expected to be collected on the financial asset. The measurement of expected credit losses should be based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect collectibility of the reported amount. An entity should use judgment in determining the relevant information and estimation methods that are appropriate to its circumstances. The Company expects to adopt this guidance in the fiscal period required by the update (i.e., fiscal years beginning after December 15, 2019, including interim periods within those fiscal years) and currently continues to evaluate if the adoption will have an impact on its consolidated financial statements. In August 2018, the FASB issued an updated disclosure framework for fair value measurements. The amendments in the issued update remove, modify and add disclosure requirements on fair value measurements in Topic 820 Fair Value Measurements. The amendments in this update are effective to all entities for the fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Certain amendments in the update should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented. Early adoption is permitted upon issuance of this update. An entity is permitted to early adopt any removed or modified disclosures upon issuance of this update and delay adoption of the additional disclosures until their effective date. The Company is currently evaluating the impact of the adoption of this update on the notes to the consolidated financial statements. In August 2018, the FASB issued updated guidance for customer's accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The amendments in this update should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is currently evaluating the impact of the adoption of this update to the consolidated financial statements. In October 2018, the FASB issued updated guidance to improve related party guidance for variable interest entities. The updated guidance requires entities to consider indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest in its entirety when determining whether a decision-making fee is a variable interest. The amendments in this update are effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. These amendments should be applied retrospectively with a cumulative-effect adjustment to retained earnings at the beginning of the earliest period presented. The Company does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. In November 2018, the FASB issued updated guidance to clarify the interaction between the guidance for collaborative arrangements and the updated revenue recognition guidance. The amendments in this update, among other things, provide guidance on how to assess whether certain collaborative arrangement transactions should be accounted for under Topic 606. The amendments in this update are effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements.

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and equipment, net consists of the following: (Dollar amounts in thousands) Useful life March 31, 2019 December 31, 2018 Buildings 30 $ 1,436 $ 1,440 Data processing equipment 3 - 5 123,802 110,673 Furniture and equipment 3 - 20 7,667 7,761 Leasehold improvements 5 -10 2,638 2,625 135,543 122,499 Less - accumulated depreciation and amortization (91,036 ) (86,990 ) Depreciable assets, net 44,507 35,509 Land 1,271 1,254 Property and equipment, net $ 45,778 $ 36,763

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill Allocated by Reportable Segments	The changes in the carrying amount of goodwill, allocated by operating segments, were as follows (See Note 14): (In thousands) Payment Payment Merchant Business Total Balance at December 31, 2018 $ 160,972 $ 49,728 $ 138,121 $ 45,823 $ 394,644 Foreign currency translation adjustments — 1,079 — — 1,079 Balance at March 31, 2019 $ 160,972 $ 50,807 $ 138,121 $ 45,823 $ 395,723
Carrying Amount of Other Intangible Assets	The carrying amount of other intangible assets at March 31, 2019 and December 31, 2018 was as follows: March 31, 2019 (Dollar amounts in thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 14 $ 342,891 $ (201,038 ) $ 141,853 Trademark 2 - 15 41,495 (29,781 ) 11,714 Software packages 3 - 10 230,114 (155,588 ) 74,526 Non-compete agreement 15 56,539 (32,040 ) 24,499 Other intangible assets, net $ 671,039 $ (418,447 ) $ 252,592 December 31, 2018 (Dollar amounts in thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 14 $ 342,738 $ (194,570 ) $ 148,168 Trademark 2 - 15 41,357 (28,888 ) 12,469 Software packages 3 - 10 224,855 (151,666 ) 73,189 Non-compete agreement 15 56,539 (31,096 ) 25,443 Other intangible assets, net $ 665,489 $ (406,220 ) $ 259,269
Estimated Amortization Expenses	The estimated amortization expense of the balances outstanding at March 31, 2019 for the next five years is as follows: (Dollar amounts in thousands) Remaining 2019 $ 36,798 2020 40,633 2021 35,497 2022 31,868 2023 30,245

Debt and Short-Term Borrowings

Debt and Short-Term Borrowings (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Total Debt	Total debt at March 31, 2019 and December 31, 2018 follows: (In thousands) March 31, 2019 December 31, 2018 Secured Credit Facility (2023 Term A) due on November 27, 2023 paying interest at a variable interest rate (LIBOR plus applicable margin (1)(2) ) 215,157 217,791 Senior Secured Credit Facility (2024 Term B) due on November 27, 2024 paying interest at a variable interest rate (LIBOR plus applicable margin (2)(3) ) 319,864 320,515 Senior Secured Revolving Credit Facility (1) 15,000 — Note Payable due on April 30, 2021 (2) 269 300 Note Payable due on December 28, 2019 $ 6,434 $ — Total debt $ 556,724 $ 538,606 (1) Applicable margin of 2.00% at March 31, 2019 and 2.25% at December 31, 2018 . (2) Net of unaccreted discount and unamortized debt issue costs, as applicable. (3) Subject to a minimum rate ("LIBOR floor") of 0% plus applicable margin of 3.50% at March 31, 2019 and December 31, 2018 .
Summary of Interest Rate Swap Transaction	At March 31, 2019 , the Company has two interest rate swap agreements, entered in December 2015 and December 2018, which convert a portion of the interest rate payments on the Company's 2024 Term B Loan from variable to fixed: Swap Agreement Effective date Maturity Date Notional Amount Variable Rate Fixed Rate 2015 Swap January 2017 April 2020 $200 million 1-month LIBOR 1.9225% 2018 Swap April 2020 November 2024 $250 million 1-month LIBOR 2.89%
Carrying Amount of Derivative Instruments on Company's Balance Sheet	At March 31, 2019 and December 31, 2018 , the carrying amount of the derivatives on the Company’s balance sheets is as follows: (In thousands) March 31, 2019 December 31, 2018 Other long-term assets $ 1,032 $ 1,683 Other long-term liabilities $ 7,851 $ 4,059

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurement for Liability at Fair Value on Recurring Basis	The following table summarizes the fair value measurement by level at March 31, 2019 and December 31, 2018 for the asset measured at fair value on a recurring basis: (In thousands) Level 1 Level 2 Level 3 Total March 31, 2019 Financial asset: Interest rate swap $ — $ 1,032 $ — $ 1,032 Financial liability: Interest rate swap — 7,851 — 7,851 December 31, 2018 Financial asset: Interest rate swap $ — $ 1,683 $ — $ 1,683 Financial liability: Interest rate swap — 4,059 — 4,059
Carrying Value and Estimated Fair Values for Financial Instruments	The following table presents the carrying value, as applicable, and estimated fair values for financial instruments at March 31, 2019 and December 31, 2018 : March 31, 2019 December 31, 2018 (In thousands) Carrying Fair Carrying Fair Financial assets: Interest rate swap $ 1,032 $ 1,032 $ 1,683 $ 1,683 Financial liabilities: Interest rate swap 7,851 7,851 4,059 4,059 2023 Term A 215,157 214,806 217,791 218,625 2024 Term B 319,864 323,377 320,515 319,517

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Summary of Changes in Balances of Accumulated Other Comprehensive Loss	The following table provides a summary of the changes in the balances of accumulated other comprehensive loss for the three months period ended March 31, 2019 : (In thousands) Foreign Currency Cash Flow Hedges Total Balance - December 31, 2018, net of tax $ (21,626 ) $ (2,163 ) $ (23,789 ) Other comprehensive income (loss) before reclassifications 1,965 (3,773 ) (1,808 ) Effective portion reclassified to Net Income — (282 ) (282 ) Balance - March 31, 2019, net of tax $ (19,661 ) $ (6,218 ) $ (25,879 )

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Nonvested Restricted Shares and RSUs Activity	The following table summarizes nonvested restricted shares and RSUs activity for the three months ended March 31, 2019 : Nonvested restricted shares and RSUs Shares Weighted-average Nonvested at December 31, 2018 2,036,163 $ 15.09 Vested (715,251 ) 28.50 Granted 432,216 18.16 Nonvested at March 31, 2019 1,753,128 $ 18.18

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	In the following table, revenue is disaggregated by timing of revenue recognition for the three months ended March 31, 2019 and 2018. Three months ended March 31, 2019 (In thousands) Payment Services - Puerto Rico & Caribbean Payment Services - Latin America Merchant Acquiring, net Business Solutions Total Timing of revenue recognition Products and services transferred at a point in time $ 2,677 $ 70 $ — $ 877 $ 3,624 Products and services transferred over time 20,073 18,678 25,974 50,487 115,212 $ 22,750 $ 18,748 $ 25,974 $ 51,364 $ 118,836 Three months ended March 31, 2018 (In thousands) Payment Services - Puerto Rico & Caribbean Payment Services - Latin America Merchant Acquiring, net Business Solutions Total Timing of revenue recognition Products and services transferred at a point in time $ 126 $ 392 $ — $ 973 $ 1,491 Products and services transferred over time 18,457 19,999 23,379 46,948 108,783 18,583 20,391 23,379 47,921 110,274
Summary of Contract Balances	The following table provides information about contract assets from contracts with customers. (In thousands) March 31, 2019 Balance at beginning of period $ 996 Services transferred to customers 49 Transfers to accounts receivable (151 ) March 31, 2019 $ 894

Income Tax (Tables)

Income Tax (Tables)	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Components of Income Tax Expense (Benefit)	The components of income tax expense for the three months ended March 31, 2019 and 2018 , respectively, consisted of the following: Three months ended (In thousands) 2019 2018 Current tax provision $ 4,691 $ 5,087 Deferred tax benefit (882 ) (1,152 ) Income tax expense $ 3,809 $ 3,935
Segregation of Income Tax Expense Based on Location of Operations	The following table presents the components of income tax expense for the three months ended March 31, 2019 and 2018 , and its segregation based on location of operations: Three months ended March 31, (In thousands) 2019 2018 Current tax provision Puerto Rico $ 1,813 $ 2,399 United States 112 80 Foreign countries 2,766 2,608 Total current tax provision $ 4,691 $ 5,087 Deferred tax benefit Puerto Rico $ (476 ) $ (839 ) United States (372 ) (87 ) Foreign countries (34 ) (226 ) Total deferred tax benefit $ (882 ) $ (1,152 )

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Reconciliation of Numerator and Denominator of Income Per Common Share	The reconciliation of the numerator and denominator of the income per common share is as follows: Three months ended March 31, (Dollar amounts in thousands, except per share information) 2019 2018 Net income attributable to EVERTEC, Inc.’s common stockholders $ 26,644 $ 23,022 Less: non-forfeitable dividends on restricted stock 6 14 Net income available to EVERTEC, Inc.’s common shareholders $ 26,638 $ 23,008 Weighted average common shares outstanding 72,378,532 72,409,462 Weighted average potential dilutive common shares (1) 1,391,534 963,373 Weighted average common shares outstanding - assuming dilution 73,770,066 73,372,835 Net income per common share - basic $ 0.37 $ 0.32 Net income per common share - diluted $ 0.36 $ 0.31 (1) Potential common shares consist of common stock issuable under the assumed release of restricted stock awards using the treasury stock method.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Components of Lease Expense	Total lease cost for the three months ended March 31, 2019, was as follows: (in thousands) Operating lease cost $ 1,923 Finance lease cost Amortization of right-of-use assets 67 Interest on lease liabilities 8 Variable lease cost 714 $ 2,712 Other information related to leases, for the three months ended March 31, 2019, was as follows: (In thousands) Right-of-use assets obtained in exchange for operating lease obligations: $ 140 Weighted average remaining lease term, in years Operating leases 7 Finance leases 2 Weighted Average Discount Rate Operating leases 4.8 % Finance leases 4.3 %
Maturities of Operating Lease Liabilities	Future minimum lease payments under leases as of March 31, 2019 were as follows: (In thousands) Operating Leases Finance Leases Remainder of 2019 $ 4,651 $ 324 2020 5,853 328 2021 5,773 34 2022 5,579 — 2023 and thereafter 17,504 — Total future minimum lease payments 39,360 686 Less: imputed interest (4,427 ) (19 ) $ 34,933 $ 667 Reported as of March 31, 2019 Accrued liabilities $ — $ 410 Operating lease payable 9,458 — Operating lease liabilities - long term 25,475 — Other long-term liabilities — 257 $ 34,933 $ 667
Maturities of Financing Lease Liabilities	Future minimum lease payments under leases as of March 31, 2019 were as follows: (In thousands) Operating Leases Finance Leases Remainder of 2019 $ 4,651 $ 324 2020 5,853 328 2021 5,773 34 2022 5,579 — 2023 and thereafter 17,504 — Total future minimum lease payments 39,360 686 Less: imputed interest (4,427 ) (19 ) $ 34,933 $ 667 Reported as of March 31, 2019 Accrued liabilities $ — $ 410 Operating lease payable 9,458 — Operating lease liabilities - long term 25,475 — Other long-term liabilities — 257 $ 34,933 $ 667

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Transactions with Related Parties	The following table presents the Company’s transactions with related parties for the three months ended March 31, 2019 and 2018 : Three months ended March 31, (Dollar amounts in thousands) 2019 2018 Total revenues (1)(2) $ 49,030 $ 45,535 Cost of revenues $ 523 $ 384 Operating lease cost and other fees $ 2,128 $ 1,963 Interest earned from affiliate Interest income $ 28 $ 32 (1) Popular revenues as a percentage of total revenues were 41% for each of the periods presented above. (2) Includes revenues generated from investee accounted for under the equity method of $0.3 million for each the periods presented above.
Summary of Balances of Transactions with Related Parties	At March 31, 2019 and December 31, 2018 , EVERTEC had the following balances arising from transactions with related parties: (Dollar amounts in thousands) March 31, 2019 December 31, 2018 Cash and restricted cash deposits in affiliated bank $ 27,447 $ 29,136 Other due/to from affiliate Accounts receivable $ 30,984 $ 25,714 Prepaid expenses and other assets $ 4,019 $ 2,796 Operating lease right-of use assets $ 24,105 $ — Other long-term assets $ 130 $ 166 Accounts payable $ 6,353 $ 6,344 Unearned income $ 30,915 $ 25,401 Operating lease liabilities $ 24,182 $ —

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Information about Operations by Business Segments	The following tables set forth information about the Company’s operations by its four business segments for the periods indicated: Three months ended March 31, 2019 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 32,017 $ 20,831 $ 25,974 $ 51,364 $ (11,350 ) $ 118,836 Operating costs and expenses 14,215 17,573 14,718 32,910 2,015 81,431 Depreciation and amortization 2,643 2,196 468 3,854 7,112 16,273 Non-operating income (expenses) 581 2,634 21 186 (2,992 ) 430 EBITDA 21,026 8,088 11,745 22,494 (9,245 ) 54,108 Compensation and benefits (2) 237 166 220 554 2,262 3,439 Transaction, refinancing and other fees (3) — 2 — — 47 49 Adjusted EBITDA $ 21,263 $ 8,256 $ 11,965 $ 23,048 $ (6,936 ) $ 57,596 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $9.2 million processing fee from the Payments Services - Puerto Rico & Caribbean segment to the Merchant Acquiring segment, intercompany software sale and developments of $2.1 million from the Payment Services - Latin America segment charged to the Payment Services - Puerto Rico & Caribbean segment. Corporate and Other was impacted by the intersegment elimination of revenue recognized in the Payment Services - Latin America segment and capitalized in the Payment Services - Puerto Rico & Caribbean segment; excluding this impact, Corporate and Other Adjusted EBITDA would be $4.8 million . (2) Primarily represents share-based compensation, other compensation expense and severance payments. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the Credit Agreement and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A. Three months ended March 31, 2018 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 27,168 $ 20,391 $ 23,379 $ 47,921 $ (8,585 ) $ 110,274 Operating costs and expenses 12,933 18,060 13,141 29,015 3,570 76,719 Depreciation and amortization 2,316 2,449 420 3,519 7,163 15,867 Non-operating income (expenses) 816 1,813 4 300 (1,917 ) 1,016 EBITDA 17,367 6,593 10,662 22,725 (6,909 ) 50,438 Compensation and benefits (2) 193 400 190 440 2,606 3,829 Transaction, refinancing and other fees (3) (250 ) — — — (49 ) (299 ) Adjusted EBITDA $ 17,310 $ 6,993 $ 10,852 $ 23,165 $ (4,352 ) $ 53,968 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $8.6 million processing fee from the Payments Services - Puerto Rico & Caribbean segment to the Merchant Acquiring segment. (2) Primarily represents share-based compensation, other compensation expense and severance payments. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the Credit Agreement and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A.,
Reconciliation of Income from Operations to Consolidated Net Income	The reconciliation of EBITDA to consolidated net income is as follows: Three months ended March 31, (In thousands) 2019 2018 Total EBITDA $ 54,108 $ 50,438 Less: Income tax expense 3,809 3,935 Interest expense, net 7,292 7,522 Depreciation and amortization 16,273 15,867 Net Income $ 26,734 $ 23,114

The Company and Basis of Pres_3

The Company and Basis of Presentation (Detail)	Mar. 31, 2019country
Accounting Policies [Abstract]
Number of countries where the Company provides a broad range of merchant acquiring, payment processing and business process management services (in country)	26

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liabilities	$ 34,933
Operating lease right-of-use asset	$ 34,743
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liabilities		$ 36,200
Operating lease right-of-use asset		$ 36,200

Property and Equipment, net (De

Property and Equipment, net (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Property and Equipment, net
Property and equipment, gross	$ 135,543		$ 122,499
Less - accumulated depreciation and amortization	(91,036)		(86,990)
Depreciable assets, net	44,507		35,509
Land	1,271		1,254
Property and equipment, net	45,778		36,763
Depreciation and amortization expense related to property and equipment	$ 4,000	$ 3,600
Buildings
Property and Equipment, net
Useful life in years	30 years
Property and equipment, gross	$ 1,436		1,440
Data processing equipment
Property and Equipment, net
Property and equipment, gross	$ 123,802		110,673
Data processing equipment | Minimum
Property and Equipment, net
Useful life in years	3 years
Data processing equipment | Maximum
Property and Equipment, net
Useful life in years	5 years
Furniture and equipment
Property and Equipment, net
Property and equipment, gross	$ 7,667		7,761
Furniture and equipment | Minimum
Property and Equipment, net
Useful life in years	3 years
Furniture and equipment | Maximum
Property and Equipment, net
Useful life in years	20 years
Leasehold improvements
Property and Equipment, net
Property and equipment, gross	$ 2,638		$ 2,625
Leasehold improvements | Minimum
Property and Equipment, net
Useful life in years	5 years
Leasehold improvements | Maximum
Property and Equipment, net
Useful life in years	10 years

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill by Segments (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Changes in the Carrying Amount of Goodwill
Beginning balance	$ 394,644
Foreign currency translation adjustments	1,079
Ending balance	395,723
Payment Services - Puerto Rico & Caribbean
Changes in the Carrying Amount of Goodwill
Beginning balance	160,972
Foreign currency translation adjustments	0
Ending balance	160,972
Payment Services - Latin America
Changes in the Carrying Amount of Goodwill
Beginning balance	49,728
Foreign currency translation adjustments	1,079
Ending balance	50,807
Merchant Acquiring, net
Changes in the Carrying Amount of Goodwill
Beginning balance	138,121
Foreign currency translation adjustments	0
Ending balance	138,121
Business Solutions
Changes in the Carrying Amount of Goodwill
Beginning balance	45,823
Foreign currency translation adjustments	0
Ending balance	$ 45,823

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of goodwill	$ 0	$ 0
Amortization expense for intangible assets	$ 12,200,000	$ 12,200,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Other Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Acquired Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 671,039	$ 665,489
Accumulated amortization	(418,447)	(406,220)
Net carrying amount	252,592	259,269
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross amount	342,891	342,738
Accumulated amortization	(201,038)	(194,570)
Net carrying amount	$ 141,853	$ 148,168
Customer relationships | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life in years	8 years	8 years
Customer relationships | Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life in years	14 years	14 years
Trademark
Acquired Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 41,495	$ 41,357
Accumulated amortization	(29,781)	(28,888)
Net carrying amount	$ 11,714	$ 12,469
Trademark | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life in years	2 years	2 years
Trademark | Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life in years	15 years	15 years
Software packages
Acquired Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 230,114	$ 224,855
Accumulated amortization	(155,588)	(151,666)
Net carrying amount	$ 74,526	$ 73,189
Software packages | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life in years	3 years	3 years
Software packages | Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life in years	10 years	10 years
Non-compete agreement
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life in years	15 years	15 years
Gross amount	$ 56,539	$ 56,539
Accumulated amortization	(32,040)	(31,096)
Net carrying amount	$ 24,499	$ 25,443

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Estimated Amortization Expenses (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining 2019	$ 36,798
2020	40,633
2021	35,497
2022	31,868
2023	$ 30,245

Debt and Short-Term Borrowing_2

Debt and Short-Term Borrowings - Total Debt (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total debt	$ 556,724	$ 538,606
Note Payable due on April 30, 2021 | Notes Payable
Debt Instrument [Line Items]
Note payable	269	300
Note Payable due on December 28, 2019 | Notes Payable
Debt Instrument [Line Items]
Note payable	6,434	0
Term A due on November 27,2023 | Credit Facility
Debt Instrument [Line Items]
Credit facility	$ 215,157	$ 217,791
Term A due on November 27,2023 | Credit Facility | LIBOR
Debt Instrument [Line Items]
Margin interest rate	2.00%	2.25%
Term B due on November 27, 2024 | Credit Facility
Debt Instrument [Line Items]
Credit facility	$ 319,864	$ 320,515
Term B due on November 27, 2024 | Credit Facility | LIBOR
Debt Instrument [Line Items]
Minimum variable rate	0.00%	3.50%
Senior Secured Revolving Credit Facility | Credit Facility
Debt Instrument [Line Items]
Credit facility	$ 15,000	$ 0

Debt and Short-Term Borrowing_3

Debt and Short-Term Borrowings - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)agreement	Jan. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Nov. 27, 2018USD ($)	May 31, 2016USD ($)
Debt Instrument [Line Items]
Number of interest rate swap agreements | agreement	2
Gains reclassified from accumulated other comprehensive loss into income	$ 0.3
Gains expected to be reclassified from accumulated other comprehensive loss into income in the next 12 months	1
Notes Payable | May 2016 Financing Agreement
Debt Instrument [Line Items]
Non interest bearing financing agreement					$ 0.7
Note payable	0.3		$ 0.3
Notes Payable | January 2019 Financing Agreement
Debt Instrument [Line Items]
Non interest bearing financing agreement		$ 10
Note payable		$ 6.4
Term A due on November 27,2023 | Credit Facility
Debt Instrument [Line Items]
Secured credit facilities	217.3
Term A due on November 27,2023 | Credit Facility | Credit Agreement 2018
Debt Instrument [Line Items]
Maximum amount under credit facilities				$ 220
Term B due on November 27, 2024 | Credit Facility
Debt Instrument [Line Items]
Secured credit facilities	324.2
Additional borrowing capacity available under the Revolving Facility	$ 82.9
Term B due on November 27, 2024 | Credit Facility | Credit Agreement 2018
Debt Instrument [Line Items]
Maximum amount under credit facilities				325
Senior Secured Revolving Credit Facility | Credit Facility | Credit Agreement 2018
Debt Instrument [Line Items]
Maximum amount under credit facilities				$ 125

Debt and Short-Term Borrowing_4

Debt and Short-Term Borrowings - Summary of Interest Rate Swap Transaction (Detail)	3 Months Ended
	Mar. 31, 2019USD ($)
2015 Interest Rate Swap Agreement
Derivative [Line Items]
Notional Amount	$ 200,000,000
2015 Interest Rate Swap Agreement | 1-month LIBOR
Derivative [Line Items]
Fixed Rate	1.9225%
2018 Interest Rate Swap Agreement
Derivative [Line Items]
Notional Amount	$ 250,000,000
2018 Interest Rate Swap Agreement | 1-month LIBOR
Derivative [Line Items]
Fixed Rate	2.89%

Debt and Short-Term Borrowing_5

Debt and Short-Term Borrowings - Carrying Amount of Derivative Instruments on Company's Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Other long-term assets	$ 1,032	$ 1,683
Other long-term liabilities	$ 7,851	$ 4,059

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Recurring Basis (Detail) - Recurring - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Financial asset:
Interest rate swap	$ 1,032	$ 1,683
Financial liability:
Interest rate swap	7,851	4,059
Level 1
Financial asset:
Interest rate swap	0	0
Financial liability:
Interest rate swap	0	0
Level 2
Financial asset:
Interest rate swap	1,032	1,683
Financial liability:
Interest rate swap	7,851	4,059
Level 3
Financial asset:
Interest rate swap	0	0
Financial liability:
Interest rate swap	$ 0	$ 0

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Carrying Value and Estimated Fair Values (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Carrying Amount
Financial assets:
Interest rate swap	$ 1,032	$ 1,683
Financial liabilities:
Interest rate swap	7,851	4,059
Carrying Amount | Credit Facility | 2023 Term A
Financial liabilities:
Senior secured term loan	215,157	217,791
Carrying Amount | Credit Facility | 2024 Term B
Financial liabilities:
Senior secured term loan	319,864	320,515
Fair Value
Financial assets:
Interest rate swap	1,032	1,683
Financial liabilities:
Interest rate swap	7,851	4,059
Fair Value | Credit Facility | 2023 Term A
Financial liabilities:
Senior secured term loan	214,806	218,625
Fair Value | Credit Facility | 2024 Term B
Financial liabilities:
Senior secured term loan	$ 323,377	$ 319,517

Equity (Detail)

Equity (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	$ 215,606
Other comprehensive income (loss) before reclassifications	(1,808)
Effective portion reclassified to Net Income	(282)
Ending balance	216,498
Foreign Currency Translation Adjustments
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	(21,626)
Other comprehensive income (loss) before reclassifications	1,965
Effective portion reclassified to Net Income	0
Ending balance	(19,661)
Cash Flow Hedges
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	(2,163)
Other comprehensive income (loss) before reclassifications	(3,773)
Effective portion reclassified to Net Income	(282)
Ending balance	(6,218)
Total
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	(23,789)
Ending balance	$ (25,879)

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expenses	$ 3.3	$ 3.6
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum unrecognized cost for stocks and RSU's	$ 23.2
Unrecognized compensation cost, weighted average period of recognition	2 years 1 month 6 days
Time Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Awards with Performance Conditions | 2017 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance adjustment percent	25.00%
Performance measurement period	1 year
Requisite service period	2 years

Share-based Compensation - Nonv

Share-based Compensation - Nonvested Restricted Shares and RSUs Activity (Detail) - Restricted Shares and RSUs	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Shares
Beginning balance (in shares) | shares	2,036,163
Vested (in shares) | shares	(715,251)
Granted (in shares) | shares	432,216
Ending balance (in shares) | shares	1,753,128
Weighted-average grant date fair value
Beginning balance (in usd per share) | $ / shares	$ 15.09
Vested (in usd per share) | $ / shares	28.50
Granted (in usd per share) | $ / shares	18.16
Ending balance (in usd per share) | $ / shares	$ 18.18

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 118,836	$ 110,274
Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	3,624	1,491
Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	115,212	108,783
Payment Services - Puerto Rico & Caribbean
Disaggregation of Revenue [Line Items]
Revenues	22,750	18,583
Payment Services - Puerto Rico & Caribbean | Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	2,677	126
Payment Services - Puerto Rico & Caribbean | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	20,073	18,457
Payment Services - Latin America
Disaggregation of Revenue [Line Items]
Revenues	18,748	20,391
Payment Services - Latin America | Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	70	392
Payment Services - Latin America | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	18,678	19,999
Merchant Acquiring, net
Disaggregation of Revenue [Line Items]
Revenues	25,974	23,379
Merchant Acquiring, net | Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	0	0
Merchant Acquiring, net | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	25,974	23,379
Business Solutions
Disaggregation of Revenue [Line Items]
Revenues	51,364	47,921
Business Solutions | Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	877	973
Business Solutions | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	$ 50,487	$ 46,948

Revenues - Contract Balances (D

Revenues - Contract Balances (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Revenue, Contract Balances [Roll Forward]
Balance at beginning of period	$ 996
Services transferred to customers	49
Transfers to accounts receivable	(151)
March 31, 2019	$ 894

Revenues - Performance Obligati

Revenues - Performance Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 96,307		$ 100,323
Unearned income	12,156		11,527
Unearned income - long term	30,199		$ 26,075
Revenue recognized that was included in unearned income	6,100	$ 3,700
Transaction price allocated to performance obligations that are unsatisfied or partially satisfied	$ 267,600
Professional Services, All Other Contracts | Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period of expected timing of satisfaction	2 years
Professional Services, All Other Contracts | Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period of expected timing of satisfaction	5 years

Income Tax - Components of Inco

Income Tax - Components of Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Current tax provision	$ 4,691	$ 5,087
Deferred tax benefit	(882)	(1,152)
Income tax expense	$ 3,809	$ 3,935

Income Tax - Tax Expense Based

Income Tax - Tax Expense Based on Location (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Current tax provision
Puerto Rico	$ 1,813	$ 2,399
United States	112	80
Foreign countries	2,766	2,608
Total current tax provision	4,691	5,087
Deferred tax benefit
Puerto Rico	(476)	(839)
United States	(372)	(87)
Foreign countries	(34)	(226)
Total deferred tax benefit	$ (882)	$ (1,152)

Income Tax - Additional Informa

Income Tax - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Unremitted earnings from foreign subsidiaries	$ 51.1
Gross deferred tax asset	12.6	$ 10.8
Gross deferred tax liability	$ 19.5	$ 18.8

Net Income Per Common Share - R

Net Income Per Common Share - Reconciliation of Income Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	Mar. 22, 2019	Feb. 15, 2019	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Net income attributable to EVERTEC, Inc.’s common stockholders			$ 26,644	$ 23,022
Less: non-forfeitable dividends on restricted stock			6	14
Net income available to EVERTEC, Inc.’s common shareholders			$ 26,638	$ 23,008
Weighted average common shares outstanding (in shares)			72,378,532	72,409,462
Weighted average potential dilutive common shares (in shares)			1,391,534	963,373
Weighted average common shares outstanding - assuming dilution (in shares)			73,770,066	73,372,835
Net income per common share - basic (in usd per share)			$ 0.37	$ 0.32
Net income per common share - diluted (in usd per share)			0.36	$ 0.31
Cash dividends declared (in usd per share)		$ 0.05	$ 0.05
Common stock dividends paid (in usd per share)	$ 0.05

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Lessee, Lease, Description [Line Items]
Equipment leases classified as finance leases	$ 1.6
Office Facilities, Buildings, Telecommunications, and Other Equipment
Lessee, Lease, Description [Line Items]
Lease renewal term	5 years
Termination period	1 year
Minimum | Office Facilities, Buildings, Telecommunications, and Other Equipment
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum | Office Facilities, Buildings, Telecommunications, and Other Equipment
Lessee, Lease, Description [Line Items]
Remaining lease term	10 years

Commitments and Contingencies_2

Commitments and Contingencies - Components of Lease Expense (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 1,923
Finance lease cost, amortization of right-of-use assets	67
Finance lease cost, interest on lease liabilities	8
Variable lease cost	714
Lease, cost	2,712
Operating Lease, Assets And Liabilities, Lessee [Abstract]
Right-of-use assets obtained in exchange for operating lease obligations:	$ 140
Weighted average remaining lease term, in years
Operating lease, weighted average remaining lease term (in years)	6 years 6 months 26 days
Finance lease, weighted average remaining lease term (in years)	1 year 7 months 21 days
Weighted Average Discount Rate
Operating lease, weighted average discount rate, percent	4.80%
Finance lease, weighted average discount rate, percent	4.30%

Commitments and Contingencies_3

Commitments and Contingencies - Maturities of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2019USD ($)
Operating Lease Liabilities, Payments Due [Abstract]
Remainder of 2019	$ 4,651
2020	5,853
2021	5,773
2022	5,579
2023 and thereafter	17,504
Total future minimum lease payments	39,360
Less: inputed interest	(4,427)
Operating lease liabilities	34,933
Finance Lease Liabilities, Payments, Due [Abstract]
Remainder of 2019	324
2020	328
2021	34
2022	0
2023 and thereafter	0
Total future minimum lease payments	686
Less: inputed interest	(19)
Finance lease liabilities	667
Accrued liabilities	410
Current portion of operating lease liability	9,458
Operating lease liabilities - long term	25,475
Other long-term liabilities	$ 257

Related Party Transactions - Tr

Related Party Transactions - Transactions with Related Parties (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Transactions with Third Party
Total revenues	$ 49,030	$ 45,535
Cost of revenues	523	384
Operating lease cost and other fees	2,128	1,963
Interest earned from affiliate
Interest income	28	32
Earnings (losses) of equity method investment	222	$ 199
Popular
Interest earned from affiliate
Earnings (losses) of equity method investment	$ 300
Popular | Customer Concentration Risk | Total Revenue
Interest earned from affiliate
Total percentage of revenues from Popular	41.00%

Related Party Transactions - Ba

Related Party Transactions - Balances of Transactions (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Cash and restricted cash deposits in affiliated bank	$ 27,447	$ 29,136
Other due/to from affiliate
Accounts receivable	30,984	25,714
Prepaid expenses and other assets	4,019	2,796
Operating lease right-of use assets	24,105	0
Other long-term assets	130	166
Accounts payable	6,353	6,344
Unearned income	30,915	25,401
Operating lease liabilities	$ 24,182	$ 0

Segment Information - Operation

Segment Information - Operations by Segments (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)segment	Mar. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of operating business segments (in segment) | segment	4
Revenues	$ 118,836	$ 110,274
Operating costs and expenses	81,431	76,719
Depreciation and amortization	16,273	15,867
Non-operating income (expenses)	430	1,016
EBITDA	54,108	50,438
Compensation and benefits	3,439	3,829
Transaction, refinancing and other fees	49	(299)
Adjusted EBITDA	$ 57,596	53,968
Consorcio de Tarjetas Dominicanas S.A.
Segment Reporting Information [Line Items]
Equity investment	19.99%
Payment Services - Puerto Rico & Caribbean
Segment Reporting Information [Line Items]
Revenues	$ 22,750	18,583
Payment Services - Latin America
Segment Reporting Information [Line Items]
Revenues	18,748	20,391
Merchant Acquiring, net
Segment Reporting Information [Line Items]
Revenues	25,974	23,379
Business Solutions
Segment Reporting Information [Line Items]
Revenues	51,364	47,921
Operating Segments | Payment Services - Puerto Rico & Caribbean
Segment Reporting Information [Line Items]
Revenues	32,017	27,168
Operating costs and expenses	14,215	12,933
Depreciation and amortization	2,643	2,316
Non-operating income (expenses)	581	816
EBITDA	21,026	17,367
Compensation and benefits	237	193
Transaction, refinancing and other fees	0	(250)
Adjusted EBITDA	21,263	17,310
Operating Segments | Payment Services - Latin America
Segment Reporting Information [Line Items]
Revenues	20,831	20,391
Operating costs and expenses	17,573	18,060
Depreciation and amortization	2,196	2,449
Non-operating income (expenses)	2,634	1,813
EBITDA	8,088	6,593
Compensation and benefits	166	400
Transaction, refinancing and other fees	2	0
Adjusted EBITDA	8,256	6,993
Operating Segments | Merchant Acquiring, net
Segment Reporting Information [Line Items]
Revenues	25,974	23,379
Operating costs and expenses	14,718	13,141
Depreciation and amortization	468	420
Non-operating income (expenses)	21	4
EBITDA	11,745	10,662
Compensation and benefits	220	190
Transaction, refinancing and other fees	0	0
Adjusted EBITDA	11,965	10,852
Operating Segments | Business Solutions
Segment Reporting Information [Line Items]
Revenues	51,364	47,921
Operating costs and expenses	32,910	29,015
Depreciation and amortization	3,854	3,519
Non-operating income (expenses)	186	300
EBITDA	22,494	22,725
Compensation and benefits	554	440
Transaction, refinancing and other fees	0	0
Adjusted EBITDA	23,048	23,165
Corporate and Other
Segment Reporting Information [Line Items]
Revenues	(11,350)	(8,585)
Operating costs and expenses	2,015	3,570
Depreciation and amortization	7,112	7,163
Non-operating income (expenses)	(2,992)	(1,917)
EBITDA	(9,245)	(6,909)
Compensation and benefits	2,262	2,606
Transaction, refinancing and other fees	47	(49)
Adjusted EBITDA	(6,936)	(4,352)
Payment Processing | Corporate and Other
Segment Reporting Information [Line Items]
Revenues	(9,200)	$ (8,600)
Payment Processing | Corporate and Other | Payment Services - Latin America
Segment Reporting Information [Line Items]
Revenues	4,800
Software Sale And Developments | Corporate and Other
Segment Reporting Information [Line Items]
Revenues	$ (2,100)

Segment Information - Income fr

Segment Information - Income from Segments to Consolidated Net Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting [Abstract]
Total EBITDA	$ 54,108	$ 50,438
Less:
Income tax expense	3,809	3,935
Interest expense, net	7,292	7,522
Depreciation and amortization	16,273	15,867
Net income	$ 26,734	$ 23,114

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Apr. 25, 2019	Feb. 15, 2019	Mar. 31, 2019
Subsequent Event [Line Items]
Cash dividends declared (in usd per share)		$ 0.05	$ 0.05
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared (in usd per share)	$ 0.05

Uncategorized Items - evtc-2019

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 852,000
Noncontrolling Interest [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(16,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 868,000