EVERTEC (EVTC) 10-Q 5 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 23, 2020
Cover [Abstract]
Entity Registrant Name	EVERTEC, Inc.
Entity Central Index Key	0001559865
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	001-35872
Entity Incorporation, State or Country Code	PR
Entity Tax Identification Number	66-0783622
Entity Address, Address Line One	Cupey Center Building,
Entity Address, Address Line Two	Road 176, Kilometer 1.3,
Entity Address, City or Town	San Juan,
Entity Address, State or Province	PR
Entity Address, Postal Zip Code	00926
City Area Code	787
Local Phone Number	759-9999
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	EVTC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		71,862,860

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 146,920	$ 111,030
Restricted cash	22,170	20,091
Accounts receivable, net	91,744	106,812
Prepaid expenses and other assets	42,177	38,085
Total current assets	303,011	276,018
Investment in equity investee	12,355	12,288
Property and equipment, net	41,199	43,791
Operating lease right-of-use asset	27,294	29,979
Goodwill	395,625	399,487
Other intangible assets, net	224,605	241,937
Deferred tax asset	2,910	2,131
Net investment in leases	457	722
Other long-term assets	4,281	5,323
Total assets	1,011,737	1,011,676
Current Liabilities:
Accrued liabilities	54,756	58,160
Accounts payable	28,698	39,165
Unearned income	22,103	20,668
Income tax payable	10,874	6,298
Current portion of long-term debt	14,250	14,250
Short-term borrowings	15,000
Current portion of operating lease liability	5,806	5,773
Total current liabilities	151,487	144,314
Long-term debt	487,572	510,947
Deferred tax liability	2,569	4,261
Unearned income - long term	28,679	28,437
Operating lease liability - long-term	21,888	24,679
Other long-term liabilities	40,574	27,415
Total liabilities	732,769	740,053
Commitments and contingencies (Note 13)
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; 71,862,860 shares issued and outstanding as of June 30, 2020 (December 31, 2019 - 72,000,261)	719	720
Additional paid-in capital	3,568	0
Accumulated earnings	320,382	296,476
Accumulated other comprehensive loss, net of tax	(49,784)	(30,009)
Total EVERTEC, Inc. stockholders’ equity	274,885	267,187
Non-controlling interest	4,083	4,436
Total equity	278,968	271,623
Total liabilities and equity	$ 1,011,737	$ 1,011,676

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
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)	71,862,860	72,000,261
Common stock outstanding (in shares)	71,862,860	72,000,261

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenues (affiliates Note 14)	$ 117,937	$ 122,548	$ 239,879	$ 241,384
Operating costs and expenses
Cost of revenues, exclusive of depreciation and amortization	56,979	52,601	111,046	102,620
Selling, general and administrative expenses	17,529	15,064	34,846	30,203
Depreciation and amortization	17,839	17,195	35,634	33,468
Total operating costs and expenses	92,347	84,860	181,526	166,291
Income from operations	25,590	37,688	58,353	75,093
Non-operating (expenses) income
Interest income	373	257	736	516
Interest expense	(6,183)	(7,373)	(12,962)	(14,924)
Earnings of equity method investment	193	133	531	355
Other income (expense)	172	(1,079)	280	(871)
Total non-operating expenses	(5,445)	(8,062)	(11,415)	(14,924)
Income before income taxes	20,145	29,626	46,938	60,169
Income tax expense	4,520	2,489	9,038	6,298
Net income	15,625	27,137	37,900	53,871
Less: Net income attributable to non-controlling interest	141	79	205	169
Net income attributable to EVERTEC, Inc.’s common stockholders	15,484	27,058	37,695	53,702
Other comprehensive income (loss), net of tax of $(2), $(617), $(1,087) and $(1,001)
Foreign currency translation adjustments	1,067	2,325	(7,238)	4,290
Loss on cash flow hedges	(678)	(6,042)	(12,537)	(10,097)
Total comprehensive income attributable to EVERTEC, Inc.’s common stockholders	$ 15,873	$ 23,341	$ 17,920	$ 47,895
Net income per common share - basic attributable to EVERTEC, Inc.’s common stockholders (in usd per share)	$ 0.22	$ 0.38	$ 0.52	$ 0.74
Net income per common share - diluted attributable to EVERTEC, Inc.’s common stockholders (in usd per share)	$ 0.21	$ 0.37	$ 0.52	$ 0.73

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Other comprehensive income, income tax (benefit) expense	$ (2)	$ (617)	$ (1,087)	$ (1,001)

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Accumulated Earnings	Accumulated EarningsCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Non-Controlling Interest
Beginning balance (in shares) at Dec. 31, 2018			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 (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 loss	(2,090)						(2,090)
Ending balance (in shares) at Mar. 31, 2019			72,267,445
Ending balance at Mar. 31, 2019	216,498		$ 722	0	237,418		(25,879)	4,237
Beginning balance (in shares) at Dec. 31, 2018			72,378,710
Beginning balance at Dec. 31, 2018	215,606		$ 723	5,783	228,742		(23,789)	4,147
Changes in Stockholders’ Equity
Net income	53,871
Ending balance (in shares) at Jun. 30, 2019			71,937,516
Ending balance at Jun. 30, 2019	228,800		$ 719	0	253,361		(29,596)	4,316
Beginning balance (in shares) at Mar. 31, 2019			72,267,445
Beginning balance at Mar. 31, 2019	216,498		$ 722	0	237,418		(25,879)	4,237
Changes in Stockholders’ Equity
Share-based compensation recognized	3,436			3,436
Repurchase of common stock (in shares)			(368,293)
Repurchase of common stock	(10,710)		$ (4)	(3,201)	(7,505)
Restricted stock units delivered (in shares)			38,364
Restricted stock units delivered, net of cashless	(234)		$ 1	(235)
Net income	27,137				27,058			79
Cash dividends declared on common stock, $0.05 per share	(3,610)				(3,610)
Other comprehensive loss	(3,717)						(3,717)
Ending balance (in shares) at Jun. 30, 2019			71,937,516
Ending balance at Jun. 30, 2019	$ 228,800		$ 719	0	253,361		(29,596)	4,316
Beginning balance (in shares) at Dec. 31, 2019	72,000,261		72,000,261
Beginning balance at Dec. 31, 2019	$ 271,623	$ (74)	$ 720	0	296,476	$ (74)	(30,009)	4,436
Changes in Stockholders’ Equity
Share-based compensation recognized	3,483			3,483
Repurchase of common stock (in shares)			(336,022)
Repurchase of common stock	(7,300)		$ (3)	(775)	(6,522)
Restricted stock units delivered (in shares)			201,066
Restricted stock units delivered, net of cashless	(2,706)		$ 2	(2,708)
Net income	22,275				22,211			64
Cash dividends declared on common stock, $0.05 per share	(3,600)				(3,600)
Other comprehensive loss	(21,017)						(20,164)	(853)
Ending balance (in shares) at Mar. 31, 2020			71,865,305
Ending balance at Mar. 31, 2020	$ 262,684		$ 719	0	308,491		(50,173)	3,647
Beginning balance (in shares) at Dec. 31, 2019	72,000,261		72,000,261
Beginning balance at Dec. 31, 2019	$ 271,623	$ (74)	$ 720	0	296,476	$ (74)	(30,009)	4,436
Changes in Stockholders’ Equity
Net income	$ 37,900
Ending balance (in shares) at Jun. 30, 2020	71,862,860		71,862,860
Ending balance at Jun. 30, 2020	$ 278,968		$ 719	3,568	320,382		(49,784)	4,083
Beginning balance (in shares) at Mar. 31, 2020			71,865,305
Beginning balance at Mar. 31, 2020	262,684		$ 719	0	308,491		(50,173)	3,647
Changes in Stockholders’ Equity
Share-based compensation recognized	3,639			3,639
Repurchase of common stock	0
Restricted stock units delivered (in shares)			2,445
Restricted stock units delivered, net of cashless	(71)			(71)
Net income	15,625				15,484			141
Cash dividends declared on common stock, $0.05 per share	(3,593)				(3,593)
Other comprehensive loss	$ 684						389	295
Ending balance (in shares) at Jun. 30, 2020	71,862,860		71,862,860
Ending balance at Jun. 30, 2020	$ 278,968		$ 719	$ 3,568	$ 320,382		$ (49,784)	$ 4,083

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity (Parenthetical)	12 Months Ended
	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member

Unaudited Condensed Consolida_7

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net income	$ 37,900	$ 53,871
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	35,634	33,468
Amortization of debt issue costs and accretion of discount	1,074	835
Operating lease amortization	2,890	3,579
Provision for expected credit losses and sundry losses	922	2,884
Deferred tax benefit	(1,214)	(1,821)
Share-based compensation	7,122	6,715
Loss on disposition of property and equipment and other intangibles	193	645
Earnings of equity method investment	(531)	(355)
Decrease (increase) in assets:
Accounts receivable, net	14,387	5,384
Prepaid expenses and other assets	(4,102)	(5,833)
Other long-term assets	1,141	(3,060)
(Decrease) increase in liabilities:
Accrued liabilities and accounts payable	(13,653)	(17,955)
Income tax payable	4,988	(4,713)
Unearned income	2,817	4,004
Operating lease liabilities	(3,281)	(2,877)
Other long-term liabilities	965	1,179
Total adjustments	49,352	22,079
Net cash provided by operating activities	87,252	75,950
Cash flows from investing activities
Additions to software	(11,833)	(20,023)
Property and equipment acquired	(6,614)	(15,625)
Proceeds from sales of property and equipment	0	29
Net cash used in investing activities	(18,447)	(35,619)
Cash flows from financing activities
Statutory withholding taxes paid on share-based compensation	(2,777)	(6,162)
Net borrowings under Revolving Facility	15,000	0
Repayment of short-term borrowings for purchase of equipment and software	(1,553)	(818)
Dividends paid	(7,193)	(7,227)
Repurchase of common stock	(7,300)	(28,196)
Repayment of long-term debt	(24,123)	(7,125)
Net cash used in financing activities	(27,946)	(49,528)
Effect of foreign exchange rate on cash, cash equivalents and restricted cash	(2,890)	0
Net increase (decrease) in cash, cash equivalents and restricted cash	37,969	(9,197)
Cash, cash equivalents and restricted cash at beginning of the period	131,121	86,746
Cash, cash equivalents and restricted cash at end of the period	169,090	77,549
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	146,920	64,025
Restricted cash	22,170	13,524
Cash, cash equivalents and restricted cash	169,090	77,549
Supplemental disclosure of cash flow information:
Cash paid for interest	12,352	14,646
Cash paid for income taxes	4,579	10,085
Supplemental disclosure of non-cash activities:
Payable due to vendor related to equipment and software acquired	$ 1,484	$ 5,238

The Company and Basis of Presen

The Company and Basis of Presentation	6 Months Ended
	Jun. 30, 2020
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 services. The Company provides services across 26 countries in the region. EVERTEC owns and operates the ATH network, one of the leading automated teller machine ("ATM") and personal identification number ("PIN") debit networks in the Caribbean and Latin America. In addition, EVERTEC provides a comprehensive suite of services for core bank processing and cash processing in Puerto Rico and technology outsourcing in all 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 condensed consolidated 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 condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited condensed consolidated 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 Securities and Exchange Commission and, accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the Audited Consolidated Financial Statements of the Company for the year ended December 31, 2019 , included in the Company’s 2019 Annual Report on Form 10-K. In the opinion of management, the accompanying unaudited condensed consolidated financial statements, prepared in accordance with GAAP, contain all adjustments necessary for a fair presentation. Intercompany accounts and transactions are eliminated in consolidation. Risks and Uncertainties due to COVID-19 Pandemic COVID-19 presents material uncertainty and risk with respect to EVERTEC’s business, results of operations and cash flows, as well as with respect to changes in laws and regulations and government and regulatory policy. COVID-19’s impact on global economies could have a material adverse effect on (among other things) the profitability, capital and liquidity of the Company, particularly if consumer spending levels are depressed for a prolonged period of time. While the rapid development and fluidity of the situation prevents management from having clear visibility into the medium and long-term impacts, management believes possible effects may include, but are not limited to, disruption to the Company’s customers and revenue, absenteeism in the Company’s workforce, unavailability of products and supplies used in operations, and a decline in the value of assets held by the Company, including, among other things, tangible and intangible long-lived assets, and increased levels in the Company's current expected credit loss reserve. Given the uncertain and rapidly evolving situation, management has taken certain precautionary measures intended to help minimize the risk of COVID-19 to the Company, its employees, and customers, including the following: • The Company deployed its business continuity plan for the entire organization a few days before the government of Puerto Rico enacted a shelter-in-place directive on March 16, 2020. Since then, every country in which the Company operates has implemented some type of social distancing measures. Management expects that most of our employees will remain working remotely for an undetermined period, until it is deemed safe by management to return to our offices and as permitted or advised by local authorities in each country where the Company operates; • In connection with the Company's business continuity plan, the Company transitioned most of its employees to a work from home environment. For certain critical employees who are required to remain working on-site in order to, among other things, maintain network operations oversight functions, cash handling and other critical operations for our customers, we have implemented safety measures including administering daily temperature checks upon entry into the work site, providing protective gear, developing safe social distancing workspaces and increasing overall sanitation at our offices; • As a precautionary measure, to increase the Company's cash position and preserve its financial flexibility in light of the current uncertainty resulting from the COVID-19 outbreak, the Company drew down $30 million on its Revolving Facility (see Note 6) in April. The Company fully repaid the Revolving Facility since then; • On May 1, 2020, the Company commenced deferral of payroll taxes as permitted under the Coronavirus Aid, Relief, and Economic Security Act of 2020 (the "CARES Act"); management anticipates a $2.7 million deferral of payroll taxes during the allowed time under the CARES Act. Through June 30, 2020, the Company has deferred payroll taxes amounting to $0.8 million ; • Management identified additional expense reductions that are intended to be implemented as necessary; and • Management has suspended all non-essential travel for employees. While the Company anticipates that the foregoing measures are temporary, management cannot predict their duration, and management may elect or need to take additional precautions as more information related to COVID-19 becomes available, as may be required by governmental authorities, or as we determine are in the best interests of our employees, customers and business partners. There is no certainty that such measures will be sufficient to mitigate the risks posed by the virus or will otherwise be satisfactory to government authorities. The extent to which the COVID-19 pandemic and EVERTEC’s precautionary measures in response to it, may impact the Company’s business, financial condition or results of operations will depend on the ongoing developments related to the pandemic and its direct and indirect consequences, all of which are highly uncertain and cannot be predicted at this time.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued updated guidance for the measurement of credit losses on financial instruments, which replaces the incurred loss impairment model 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. The main objective of this update and subsequent clarifications and corrections, including ASU 2018-19, ASU 2019-04, ASU 2019-05, and ASU 2020-03, is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendments affect the Company's trade receivables. Additional disclosures about significant estimates and credit quality are also required. The Company adopted this new guidance effective January 1, 2020, using a modified retrospective approach through a cumulative-effect adjustment to retained earnings, considered immaterial to the consolidated financial statements. Results for reporting periods beginning after January 1, 2020 are presented under the new guidance provided by Accounting Standards Codification ("ASC") Topic 326, while prior period amounts are not adjusted and continue to be reported under legacy GAAP. Refer to Note 3, Current Expected Credit Losses , for discussions of the implementation of ASC Topic 326 with respect to the Company’s consolidated financial statements. In August 2018, the FASB issued updated guidance for customer’s accounting for implementation, set-up and other upfront costs (collectively referred to as implementation costs) incurred in a cloud computing arrangement constituting 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 (and hosting arrangements that include an internal-use software license). The updated guidance does not impact the accounting for the service element of a hosting arrangement that is a service contract. The Company adopted this guidance prospectively effective January 1, 2020 with respect to all implementation costs incurred in a cloud computing arrangement constituting a service contract. 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 ASC Topic 606, Revenue from Contracts with Customers . The Company adopted the amendments in this update effective January 1, 2020. All contracts after this date are being evaluated under the updated guidance. Recently Issued Accounting Pronouncements In March 2020, the FASB issued updated guidance for ASC Topic 848, Reference Rate Reform , to provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met for a limited period of time in order to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in this update are elective and apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments to this update are effective for all entities as of March 12, 2020 through December 31, 2022. The Company is currently evaluating whether to elect the adoption of this guidance with respect to the consolidated financial statements. Accounting Pronouncements Issued Prior to 2020 and Not Yet Adopted In December 2019, the FASB issued updated guidance for ASC Topic 740, Income Taxes, as part of its initiative to reduce complexity in accounting standards. The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles set out in ASC Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of ASC Topic 740 by clarifying and amending existing guidance. The amendments to this update are effective for fiscal years, and interim periods within such fiscal years, beginning after December 15, 2020. Early adoption of the amendments is permitted, including adoption in any interim period for public business entities for periods for which financial statements have not yet been issued. An entity that elects to early adopt the amendments in an interim period should reflect any adjustments as of the beginning of the annual period that includes that interim period. Additionally, an entity that elects early adoption must adopt all the amendments in the same period. The Company is currently evaluating the impact, if any, of the adoption of this guidance on the consolidated financial statements.

Current Expected Credit Losses

Current Expected Credit Losses (Notes)	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Current Expected Credit Losses	Current Expected Credit Losses Allowance for Current Expected Credit Losses The Company has only one type of financial asset that is subject to the expected credit loss model, which is trade receivables from contracts with customers. While contract assets and net investments in leases are also subject to the impairment requirements of ASC Topic 326, the impairment loss identified for these financial assets is immaterial to the consolidated financial statements. To measure expected credit losses, trade receivables are grouped based on shared risk characteristics (i.e., the relevant industry sector and customer's geographical location) and days past due (i.e., delinquency status), while considering the following: • Customers in the same geographical location share similar risk characteristics associated with the macroeconomic environment of their country. • The Company has two main industry sectors: private and governmental. The private pool is comprised mainly of leading financial institutions, merchants and corporations, while the governmental pool is comprised by government agencies. The governmental customers possess different risk characteristics than private customers because although all invoices are due every 30 days, governmental customers usually pay within 60 to 90 days after issuance (i.e., between 30 to 60 more days than private customers). The Company provides to its customers a broad range of merchant acquiring, payment services and business process management services, which constitute mission-critical technology solutions enabling customers to issue, process and accept transactions securely. • The expected credit loss rate is likely to increase as receivables move to older aging buckets. The Company used the following aging categories to estimate the risk of delinquency status: (i) 0 days past due; (ii) 1-30 days past due; (iii) 31-60 days past due; (iv) 61-90 days past due; and (v) over 90 days past due. The credit losses of the Company’s trade receivables have been historically low and most balances are collected within one year. Therefore, the Company determined that the expected loss rates should be calculated using the historical loss rates adjusted by macroeconomic factors. The historical rates are calculated for each of the aging categories used for pooling trade receivables. To determine the collected portion of each bucket, the collection time of each trade receivable is identified, to estimate the proportion of outstanding balances per aging bucket that ultimately will not be collected. This is used to determine the expectation of losses based on the history of uncollected trade receivables once the specific past due period is surpassed. The historical rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of customers to settle the receivables by applying a country risk premium as the forward-looking macroeconomic factor. Specific reserves are established for certain customers for which collection is doubtful. Rollforward of the Allowance for Expected Current Credit Losses The activity in the allowance for expected current credit losses on trade receivables during the period from January 1, 2020 to June 30, 2020 , was as follows: (In thousands) June 30, 2020 Balance at beginning of period $ 3,460 Current period provision for expected credit losses 713 Write-offs (1,427 ) Recoveries of amounts previously written-off 3 Balance at end of period $ 2,749 The Company does not have a delinquency threshold for writing-off trade receivables. The Company has a formal process for the review and approval of write-offs. Impairment losses on trade receivables are presented as net impairment losses within cost of revenue, exclusive of depreciation and amortization in the unaudited condensed consolidated statement of income and comprehensive income. Subsequent recoveries of amounts previously written-off are credited against the allowance for expected current credit losses within accounts receivable, net on the unaudited condensed consolidated balance sheet.

Property and Equipment, net

Property and Equipment, net	6 Months Ended
	Jun. 30, 2020
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 June 30, 2020 December 31, 2019 Buildings 30 $ 1,515 $ 1,542 Data processing equipment 3 - 5 119,100 116,950 Furniture and equipment 3 - 20 7,138 6,936 Leasehold improvements 5 -10 3,015 2,814 130,768 128,242 Less - accumulated depreciation and amortization (90,881 ) (85,780 ) Depreciable assets, net 39,887 42,462 Land 1,312 1,329 Property and equipment, net $ 41,199 $ 43,791 Depreciation and amortization expense related to property and equipment for three and six months ended June 30, 2020 amounted to $4.3 million and $8.5 million , respectively, compared to $4.3 million and $8.3 million for the corresponding periods in 2019 .

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2020
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 15): (In thousands) Payment Payment Merchant Business Total Balance at December 31, 2019 $ 160,972 $ 54,571 $ 138,121 $ 45,823 $ 399,487 Foreign currency translation adjustments — (3,862 ) — — (3,862 ) Balance at June 30, 2020 $ 160,972 $ 50,709 $ 138,121 $ 45,823 $ 395,625 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 is recorded for the excess of the carrying value over the fair value, limited to the recorded balance of goodwill. In the first half of 2020, global equity markets conditions deteriorated in reaction to the COVID-19 pandemic resulting in a corresponding decrease in the Company's stock price and market capitalization. As a result, management performed assessments as to whether the fair value of reporting units was less than carrying value as of June 30, 2020 and concluded that it was more likely than not that the fair value continued to be in excess of the carrying value for all reporting units. No impairment losses were recognized as of June 30, 2020 . The carrying amount of other intangible assets at June 30, 2020 and December 31, 2019 was as follows: June 30, 2020 (Dollar amounts in thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 14 $ 343,756 $ (233,324 ) $ 110,432 Trademarks 10 - 15 41,919 (34,262 ) 7,657 Software packages 3 - 10 267,204 (180,477 ) 86,727 Non-compete agreement 15 56,539 (36,750 ) 19,789 Other intangible assets, net $ 709,418 $ (484,813 ) $ 224,605 December 31, 2019 (Dollar amounts in thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 14 $ 344,883 $ (220,434 ) $ 124,449 Trademarks 2 - 15 42,025 (32,456 ) 9,569 Software packages 3 - 10 256,220 (169,974 ) 86,246 Non-compete agreement 15 56,539 (34,866 ) 21,673 Other intangible assets, net $ 699,667 $ (457,730 ) $ 241,937 Amortization expense related to other intangibles for the three and six months ended June 30, 2020 amounted to $13.5 million and $27.1 million , respectively, compared to $12.9 million and $25.1 million for the corresponding periods in 2019. The estimated amortization expense of the balances outstanding at June 30, 2020 for the next five years is as follows: (Dollar amounts in thousands) Remaining 2020 $ 25,563 2021 47,008 2022 41,727 2023 36,783 2024 28,458

Debt and Short-Term Borrowings

Debt and Short-Term Borrowings	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt and Short-Term Borrowings	Debt and Short-Term Borrowings Total debt at June 30, 2020 and December 31, 2019 follows: (In thousands) June 30, 2020 December 31, 2019 2023 Term A Loan bearing interest at a variable interest rate (LIBOR plus applicable margin (1)(2) ) $ 194,058 $ 207,261 2024 Term B Loan bearing interest at a variable interest rate (LIBOR plus applicable margin (1)(3) ) 307,764 317,936 Senior Secured Revolving Credit Facility (2) 15,000 — Note payable due April 30, 2021 (1) 111 175 Note payable due January 1, 2022 (1) 1,373 2,231 Total debt $ 518,306 $ 527,603 (1) Net of unaccreted discount and unamortized debt issue costs, as applicable. (2) Applicable margin of 1.75% at June 30, 2020 and 2.00% at December 31, 2019 . (3) Subject to a minimum rate ("LIBOR floor") of 0% plus applicable margin of 3.50% at June 30, 2020 and December 31, 2019 . Secured Credit Facilities On November 27, 2018, EVERTEC and EVERTEC Group (“Borrower”) entered into a credit agreement providing for the secured credit facilities, consisting of a $220.0 million term loan A facility that matures on November 27, 2023 (the “2023 Term A Loan"), a $325.0 million term loan B facility that matures on November 27, 2024 (the “2024 Term B Loan”), 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 2018 Credit Agreement requires mandatory repayment of outstanding principal balances based on a percentage of excess cash flow, provided that no such payment shall be due if the resulting amount of the excess cash flow multiplied by the applicable percentage is less than $10 million . On March 5, 2020, in connection with this mandatory repayment clause, the Company repaid $17.0 million as a result of excess cash flow calculation performed for the year ended December 31, 2019. The unpaid principal balance at June 30, 2020 of the 2023 Term A Loan and the 2024 Term B Loan was $195.5 million and $311.1 million , respectively. The additional borrowing capacity under our Revolving Facility at June 30, 2020 was $86.7 million . The Company issues letters of credit against the Revolving Facility which reduce the additional borrowing capacity of the Revolving Facility. Notes Payable In December 2019, EVERTEC Group entered into two non-interest bearing financing agreements amounting to $2.4 million to purchase software and maintenance. As of June 30, 2020 and December 31, 2019 , the outstanding principal balance of the notes payable was $1.5 million and $2.4 million , respectively. The current portion of these notes is included in accounts payable and the long-term portion is included in other long-term liabilities in the Company's unaudited condensed consolidated balance sheet. Interest Rate Swaps As of June 30, 2020 , the Company has an interest rate swap agreement, entered into in December 2018, which converts 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 2018 Swap April 2020 November 2024 $250 million 1-month LIBOR 2.89% The Company has accounted for this agreement as a cash flow hedge. Additionally, the Company had an interest rate swap agreement that matured in April 2020, with a notional amount of $200 million and a fixed rate of 1.9225% . The Company accounted for this swap as a cash flow hedge from inception to maturity. As of June 30, 2020 and December 31, 2019 , the carrying amount of derivatives included in other long-term liabilities on the Company's unaudited condensed consolidated balance sheets was $28.1 million and $14.5 million , respectively. The fair value of these derivatives is estimated using Level 2 inputs in the fair value hierarchy on a recurring basis. Refer to Note 8 for disclosure of losses recorded on cash flow hedging activities. During the three and six months ended June 30, 2020 , the Company reclassified losses of $1.4 million and $1.6 million , respectively, from accumulated other comprehensive loss into interest expense. Based on current LIBOR rates, the Company expects to reclassify losses of $6.8 million from accumulated other comprehensive loss into interest expense over the next 12 months. The cash flow hedge is considered highly effective.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	Financial Instruments and Fair Value Measurements Recurring Fair Value Measurements The Company's interest rate swaps are the only financial instruments measured at fair value on a recurring basis. The fair value is estimated using Level 2 inputs under the fair value hierarchy. These derivatives were in a liability position with balances of $28.1 million and $14.5 million as of June 30, 2020 and December 31, 2019 , respectively. The following table presents the carrying value, as applicable, and estimated fair values for financial instruments at June 30, 2020 and December 31, 2019 : June 30, 2020 December 31, 2019 (In thousands) Carrying Fair Carrying Fair Financial liabilities: Interest rate swap $ 28,123 $ 28,123 $ 14,452 $ 14,452 2023 Term A Loan 194,058 187,439 207,261 206,388 2024 Term B Loan 307,764 300,105 317,936 324,163 The fair values of the term loans at June 30, 2020 and December 31, 2019

Equity

Equity	6 Months Ended
	Jun. 30, 2020
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 six months ended June 30, 2020 : (In thousands) Foreign Currency Cash Flow Hedges Total Balance - December 31, 2019, net of tax $ (16,872 ) $ (13,137 ) $ (30,009 ) Other comprehensive loss before reclassifications (7,238 ) (14,110 ) (21,348 ) Effective portion reclassified to net income — 1,573 1,573 Balance - June 30, 2020, net of tax $ (24,110 ) $ (25,674 ) $ (49,784 )

Share-based Compensation

Share-based Compensation	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation Long-term Incentive Plan ("LTIP") During the three months ended March 31, 2018, 2019 and 2020, 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 2018 LTIP, 2019 LTIP and 2020 LTIP, respectively, all under the terms of the Company's 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 28 of each year for the 2018 LTIP, February 22 of each year for the 2019 LTIP, and February 27 of each year for the 2020 LTIP. For the performance-based awards under the 2018 LTIP, 2019 LTIP, and 2020 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 an additional two-year service vesting period. Performance and market-based awards vest at the end of the performance period that commenced on February 28, 2018 for the 2018 LTIP, February 22, 2019 for the 2019 LTIP, and February 27, 2020 for the 2020 LTIP. The periods end on February 28, 2021 for the 2018 LTIP, February 22, 2022 for the 2019 LTIP and February 27, 2023 for the 2020 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 six months ended June 30, 2020 : Nonvested restricted shares and RSUs Shares Weighted-average Nonvested at December 31, 2019 1,592,755 $ 20.71 Forfeited (147,136 ) 19.18 Vested (337,452 ) 26.24 Granted 413,733 31.62 Nonvested at June 30, 2020 1,521,900 $ 23.83 For the three and six months ended June 30, 2020 , the Company recognized $3.6 million and $7.1 million of share-based compensation expense, compared with $3.4 million and $6.7 million for the corresponding periods in 2019 . As of June 30, 2020 , the maximum unrecognized cost for restricted stock and RSUs was $23.6 million . The cost is expected to be recognized over a weighted average period of 2.1

Revenues

Revenues	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues 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 15, Segment Information. In the following tables, revenue for each segment is disaggregated by timing of revenue recognition for the periods indicated. Three months ended June 30, 2020 (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 $ 32 $ 206 $ — $ 2,765 $ 3,003 Products and services transferred over time 19,553 17,887 24,765 52,729 114,934 $ 19,585 $ 18,093 $ 24,765 $ 55,494 $ 117,937 Three months ended June 30, 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 $ 115 $ 121 $ — $ 2,774 $ 3,010 Products and services transferred over time 20,585 19,751 26,793 52,409 119,538 $ 20,700 $ 19,872 $ 26,793 $ 55,183 $ 122,548 Six months ended June 30, 2020 (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 $ 37 $ 637 $ — $ 3,062 $ 3,736 Products and services transferred over time 40,186 37,696 49,886 108,375 236,143 $ 40,223 $ 38,333 $ 49,886 $ 111,437 $ 239,879 Six months ended June 30, 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 $ 2,792 $ 191 $ — $ 3,651 $ 6,634 Products and services transferred over time 40,658 38,429 52,767 102,896 234,750 $ 43,450 $ 38,620 $ 52,767 $ 106,547 $ 241,384 Contract Balances The following table provides information about contract assets from contracts with customers. (In thousands) June 30, 2020 December 31, 2019 $ 1,191 Services transferred to customers 1,849 Transfers to accounts receivable (826 ) June 30, 2020 $ 2,214 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 in the unaudited condensed consolidated balance sheets. Accounts receivable, net at June 30, 2020 amounted to $91.7 million . Unearned income and unearned income - long term, which refer to contract liabilities, at June 30, 2020 amounted to $22.1 million and $28.7 million , respectively, and may 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 hosting or managed services. During the three and six months ended June 30, 2020 , the Company recognized revenue of $4.0 million and $9.2 million , respectively, that was included in unearned income at December 31, 2019 . During the three and six months ended June 30, 2019 , the Company recognized revenue of $5.2 million and $11.3 million , respectively, that was included in unearned income at December 31, 2018 . The estimated aggregate amount of the transaction price allocated to performance obligations that are unsatisfied or partially satisfied at June 30, 2020 is $322.5 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 varies from 2 to 5

Income Tax

Income Tax	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Tax	Income Tax The components of income tax expense for the three and six months ended June 30, 2020 and 2019 , respectively, consisted of the following: Three months ended June 30, Six months ended June 30, (In thousands) 2020 2019 2020 2019 Current tax provision $ 4,654 $ 3,428 $ 10,252 $ 8,119 Deferred tax benefit (134 ) (939 ) (1,214 ) (1,821 ) Income tax expense $ 4,520 $ 2,489 $ 9,038 $ 6,298 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 government of Puerto Rico as well as foreign jurisdictions. The following table presents the components of income tax expense for the three and six months ended June 30, 2020 and 2019 , and its segregation based on location of operations: Three months ended June 30, Six months ended June 30, (In thousands) 2020 2019 2020 2019 Current tax provision (benefit) Puerto Rico $ 1,528 $ 1,503 $ 3,207 $ 3,316 United States 139 (97 ) 294 15 Foreign countries 2,987 2,022 6,751 4,788 Total current tax provision $ 4,654 $ 3,428 $ 10,252 $ 8,119 Deferred tax (benefit) provision Puerto Rico $ (458 ) $ (1,119 ) $ (546 ) $ (1,595 ) United States 1,126 373 1,101 1 Foreign countries (802 ) (193 ) (1,769 ) (227 ) Total deferred tax benefit $ (134 ) $ (939 ) $ (1,214 ) $ (1,821 ) 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 June 30, 2020 , the Company has $70.2 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 June 30, 2020 , the gross deferred tax asset amounted to $19.4 million and the gross deferred tax liability amounted to $19.0 million , compared to $13.1 million and $18.7 million , respectively, as of December 31, 2019 . Income tax expense differs from the amount computed by applying the Puerto Rico statutory income tax rate to the income before income taxes as a result of the following: Six months ended June 30, (In thousands) 2020 2019 Computed income tax at statutory rates $ 17,602 $ 22,563 Benefit of net tax-exempt interest income (15 ) (36 ) Differences in tax rates due to multiple jurisdictions 1,149 3 Tax benefit due to a change in estimate 131 300 Effect of income subject to tax-exemption grant (12,050 ) (16,322 ) Unrecognized tax expense 193 202 Other expense (benefit) 2,028 (412 ) Income tax expense $ 9,038 $ 6,298

Net Income Per Common Share

Net Income Per Common Share	6 Months Ended
	Jun. 30, 2020
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 June 30, Six months ended June 30, (Dollar amounts in thousands, except per share information) 2020 2019 2020 2019 Net income attributable to EVERTEC, Inc.’s common stockholders $ 15,484 $ 27,058 $ 37,695 $ 53,702 Weighted average common shares outstanding 71,864,499 72,128,795 71,938,574 72,252,974 Weighted average potential dilutive common shares (1) 909,866 1,171,758 1,080,645 1,396,959 Weighted average common shares outstanding - assuming dilution 72,774,365 73,300,553 73,019,219 73,649,933 Net income per common share - basic $ 0.22 $ 0.38 $ 0.52 $ 0.74 Net income per common share - diluted $ 0.21 $ 0.37 $ 0.52 $ 0.73 (1) Potential common shares consist of common stock issuable under the assumed release of restricted stock awards using the treasury stock method. On February 20, 2020 and April 21, 2020 , the Company's Board declared quarterly cash dividends of $0.05 per share of common stock, which were paid on April 3, 2020 and June 5, 2020 , respectively, to stockholders of record as of the close of business on March 4, 2020 and May 4, 2020

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
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. For details of the Company's commitments, refer to Note 22, Commitments and Contingencies included in the Financial Statements of the Company's Annual Report on Form 10-K for the year ended December 31, 2019 .

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The following table presents the Company’s transactions with related parties for the three and six months ended June 30, 2020 and 2019 : Three months ended June 30, Six months ended June 30, (Dollar amounts in thousands) 2020 2019 2020 2019 Total revenues (1)(2) $ 53,788 $ 52,290 $ 108,360 $ 101,320 Cost of revenues $ 1,782 $ 1,338 $ 2,400 $ 1,861 Operating lease cost and other fees $ 2,060 $ 2,090 $ 4,041 $ 4,218 Interest earned from affiliate Interest income $ 108 $ 27 $ 197 $ 55 (1) Popular revenues as a percentage of total revenues were 45% , 42% , 45% and 42% , respectively, for each of the periods presented above. (2) Includes revenues generated from investee accounted for under the equity method of $0.1 million , $0.2 million , $0.4 million , and $0.5 million , respectively, for each of the periods presented above. As of June 30, 2020 and December 31, 2019 , EVERTEC had the following balances arising from transactions with related parties: (Dollar amounts in thousands) June 30, 2020 December 31, 2019 Cash and restricted cash deposits in affiliated bank $ 96,113 $ 64,724 Other due to/from affiliate Accounts receivable $ 30,894 $ 39,095 Prepaid expenses and other assets $ 4,374 $ 4,211 Operating lease right-of use assets $ 18,878 $ 20,617 Other long-term assets $ 28 $ 57 Accounts payable $ 3,763 $ 7,250 Unearned income $ 35,846 $ 35,489 Operating lease liabilities $ 19,252 $ 20,905

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information The Company operates in four business segments: Payment Services - Puerto Rico & Caribbean, Payment Services - Latin America (collectively "Payment Services segments"), 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 of ATMs 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 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 hosting and management, 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 within the “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 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 ASC 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. As such, segment assets are not disclosed in the notes to the accompanying unaudited condensed 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 June 30, 2020 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 27,461 $ 19,797 $ 24,764 $ 55,495 $ (9,580 ) $ 117,937 Operating costs and expenses 17,453 17,947 12,230 37,008 7,709 92,347 Depreciation and amortization 3,193 2,815 455 4,381 6,995 17,839 Non-operating income (expenses) (178 ) 584 158 684 (883 ) 365 EBITDA 13,023 5,249 13,147 23,552 (11,177 ) 43,794 Compensation and benefits (2) 253 835 235 472 1,956 3,751 Transaction, refinancing and other fees (3) — — — — 2,656 2,656 Adjusted EBITDA $ 13,276 $ 6,084 $ 13,382 $ 24,024 $ (6,565 ) $ 50,201 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $7.3 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software developments and transaction processing of $2.3 million from Payment Services - Latin America to Payment Services - Puerto Rico & Caribbean. 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 $4.3 million . (2) Primarily represents share-based compensation. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the 2018 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 June 30, 2019 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 30,482 $ 21,106 $ 26,793 $ 55,183 $ (11,016 ) $ 122,548 Operating costs and expenses 13,630 17,654 15,230 35,959 2,387 84,860 Depreciation and amortization 2,740 2,547 423 4,479 7,006 17,195 Non-operating income (expenses) 470 1,601 10 34 (3,061 ) (946 ) EBITDA 20,062 7,600 11,996 23,737 (9,458 ) 53,937 Compensation and benefits (2) 257 173 255 529 2,284 3,498 Transaction, refinancing and other fees (3) — — — — 362 362 Adjusted EBITDA $ 20,319 $ 7,773 $ 12,251 $ 24,266 $ (6,812 ) $ 57,797 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $9.7 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software sale and developments of $1.3 million from Payment Services - Latin America to Payment Services - Puerto Rico & Caribbean. 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 $5.5 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 2018 Credit Agreement and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A., net of cash dividends received. Six months ended June 30, 2020 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 57,348 $ 41,437 $ 49,885 $ 111,438 $ (20,229 ) $ 239,879 Operating costs and expenses 34,859 35,598 26,936 70,625 13,508 181,526 Depreciation and amortization 6,442 5,572 954 8,677 13,989 35,634 Non-operating income (expenses) (65 ) 1,338 312 1,071 (1,845 ) 811 EBITDA 28,866 12,749 24,215 50,561 (21,593 ) 94,798 Compensation and benefits (2) 484 1,577 451 908 3,831 7,251 Transaction, refinancing and other fees (3) — — — — 4,442 4,442 Adjusted EBITDA $ 29,350 $ 14,326 $ 24,666 $ 51,469 $ (13,320 ) $ 106,491 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $16.3 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software developments and transaction processing of $3.9 million from Payment Services - Latin America to Payment Services - Puerto Rico & Caribbean. 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 $9.4 million . (2) Primarily represents share-based compensation. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the 2018 Credit Agreement and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A. Six months ended June 30, 2019 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 62,499 $ 41,937 $ 52,767 $ 106,547 $ (22,366 ) $ 241,384 Operating costs and expenses 27,845 35,227 29,948 68,869 4,402 166,291 Depreciation and amortization 5,383 4,743 891 8,333 14,118 33,468 Non-operating income (expenses) 1,051 4,235 31 220 (6,053 ) (516 ) EBITDA 41,088 15,688 23,741 46,231 (18,703 ) 108,045 Compensation and benefits (2) 494 339 475 1,083 4,546 6,937 Transaction, refinancing and other fees (3) — 2 — — 409 411 Adjusted EBITDA $ 41,582 $ 16,029 $ 24,216 $ 47,314 $ (13,748 ) $ 115,393 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $18.9 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software sale and developments of $3.4 million from Payment Services - Latin America to the Payment Services - Puerto Rico & Caribbean. 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 $10.3 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 2018 Credit Agreement and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A., net of cash dividends received. The reconciliation of EBITDA to consolidated net income is as follows: Three months ended June 30, Six months ended June 30, (In thousands) 2020 2019 2020 2019 Total EBITDA $ 43,794 $ 53,937 $ 94,798 $ 108,045 Less: Income tax expense 4,520 2,489 9,038 6,298 Interest expense, net 5,810 7,116 12,226 14,408 Depreciation and amortization 17,839 17,195 35,634 33,468 Net income $ 15,625 $ 27,137 $ 37,900 $ 53,871

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 24, 2020 , 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 September 4, 2020 to stockholders of record as of the close of business on August 3, 2020

The Company and Basis of Pres_2

The Company and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2020
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 services. The Company provides services across 26 countries in the region. EVERTEC owns and operates the ATH network, one of the leading automated teller machine ("ATM") and personal identification number ("PIN") debit networks in the Caribbean and Latin America. In addition, EVERTEC provides a comprehensive suite of services for core bank processing and cash processing in Puerto Rico and technology outsourcing in all 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	Basis of Presentation The unaudited condensed consolidated 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 condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited condensed consolidated 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 Securities and Exchange Commission and, accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the Audited Consolidated Financial Statements of the Company for the year ended December 31, 2019 , included in the Company’s 2019 Annual Report on Form 10-K. In the opinion of management, the accompanying unaudited condensed consolidated financial statements, prepared in accordance with GAAP, contain all adjustments necessary for a fair presentation. Intercompany accounts and transactions are eliminated in consolidation. Risks and Uncertainties due to COVID-19 Pandemic COVID-19 presents material uncertainty and risk with respect to EVERTEC’s business, results of operations and cash flows, as well as with respect to changes in laws and regulations and government and regulatory policy. COVID-19’s impact on global economies could have a material adverse effect on (among other things) the profitability, capital and liquidity of the Company, particularly if consumer spending levels are depressed for a prolonged period of time. While the rapid development and fluidity of the situation prevents management from having clear visibility into the medium and long-term impacts, management believes possible effects may include, but are not limited to, disruption to the Company’s customers and revenue, absenteeism in the Company’s workforce, unavailability of products and supplies used in operations, and a decline in the value of assets held by the Company, including, among other things, tangible and intangible long-lived assets, and increased levels in the Company's current expected credit loss reserve. Given the uncertain and rapidly evolving situation, management has taken certain precautionary measures intended to help minimize the risk of COVID-19 to the Company, its employees, and customers, including the following: • The Company deployed its business continuity plan for the entire organization a few days before the government of Puerto Rico enacted a shelter-in-place directive on March 16, 2020. Since then, every country in which the Company operates has implemented some type of social distancing measures. Management expects that most of our employees will remain working remotely for an undetermined period, until it is deemed safe by management to return to our offices and as permitted or advised by local authorities in each country where the Company operates; • In connection with the Company's business continuity plan, the Company transitioned most of its employees to a work from home environment. For certain critical employees who are required to remain working on-site in order to, among other things, maintain network operations oversight functions, cash handling and other critical operations for our customers, we have implemented safety measures including administering daily temperature checks upon entry into the work site, providing protective gear, developing safe social distancing workspaces and increasing overall sanitation at our offices; • As a precautionary measure, to increase the Company's cash position and preserve its financial flexibility in light of the current uncertainty resulting from the COVID-19 outbreak, the Company drew down $30 million on its Revolving Facility (see Note 6) in April. The Company fully repaid the Revolving Facility since then; • On May 1, 2020, the Company commenced deferral of payroll taxes as permitted under the Coronavirus Aid, Relief, and Economic Security Act of 2020 (the "CARES Act"); management anticipates a $2.7 million deferral of payroll taxes during the allowed time under the CARES Act. Through June 30, 2020, the Company has deferred payroll taxes amounting to $0.8 million ; • Management identified additional expense reductions that are intended to be implemented as necessary; and • Management has suspended all non-essential travel for employees. While the Company anticipates that the foregoing measures are temporary, management cannot predict their duration, and management may elect or need to take additional precautions as more information related to COVID-19 becomes available, as may be required by governmental authorities, or as we determine are in the best interests of our employees, customers and business partners. There is no certainty that such measures will be sufficient to mitigate the risks posed by the virus or will otherwise be satisfactory to government authorities. The extent to which the COVID-19 pandemic and EVERTEC’s precautionary measures in response to it, may impact the Company’s business, financial condition or results of operations will depend on the ongoing developments related to the pandemic and its direct and indirect consequences, all of which are highly uncertain and cannot be predicted at this time.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued updated guidance for the measurement of credit losses on financial instruments, which replaces the incurred loss impairment model 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. The main objective of this update and subsequent clarifications and corrections, including ASU 2018-19, ASU 2019-04, ASU 2019-05, and ASU 2020-03, is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendments affect the Company's trade receivables. Additional disclosures about significant estimates and credit quality are also required. The Company adopted this new guidance effective January 1, 2020, using a modified retrospective approach through a cumulative-effect adjustment to retained earnings, considered immaterial to the consolidated financial statements. Results for reporting periods beginning after January 1, 2020 are presented under the new guidance provided by Accounting Standards Codification ("ASC") Topic 326, while prior period amounts are not adjusted and continue to be reported under legacy GAAP. Refer to Note 3, Current Expected Credit Losses , for discussions of the implementation of ASC Topic 326 with respect to the Company’s consolidated financial statements. In August 2018, the FASB issued updated guidance for customer’s accounting for implementation, set-up and other upfront costs (collectively referred to as implementation costs) incurred in a cloud computing arrangement constituting 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 (and hosting arrangements that include an internal-use software license). The updated guidance does not impact the accounting for the service element of a hosting arrangement that is a service contract. The Company adopted this guidance prospectively effective January 1, 2020 with respect to all implementation costs incurred in a cloud computing arrangement constituting a service contract. 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 ASC Topic 606, Revenue from Contracts with Customers . The Company adopted the amendments in this update effective January 1, 2020. All contracts after this date are being evaluated under the updated guidance. Recently Issued Accounting Pronouncements In March 2020, the FASB issued updated guidance for ASC Topic 848, Reference Rate Reform , to provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met for a limited period of time in order to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in this update are elective and apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments to this update are effective for all entities as of March 12, 2020 through December 31, 2022. The Company is currently evaluating whether to elect the adoption of this guidance with respect to the consolidated financial statements. Accounting Pronouncements Issued Prior to 2020 and Not Yet Adopted In December 2019, the FASB issued updated guidance for ASC Topic 740, Income Taxes, as part of its initiative to reduce complexity in accounting standards. The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles set out in ASC Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of ASC Topic 740 by clarifying and amending existing guidance. The amendments to this update are effective for fiscal years, and interim periods within such fiscal years, beginning after December 15, 2020. Early adoption of the amendments is permitted, including adoption in any interim period for public business entities for periods for which financial statements have not yet been issued. An entity that elects to early adopt the amendments in an interim period should reflect any adjustments as of the beginning of the annual period that includes that interim period. Additionally, an entity that elects early adoption must adopt all the amendments in the same period. The Company is currently evaluating the impact, if any, of the adoption of this guidance on the consolidated financial statements.

Current Expected Credit Losse_2

Current Expected Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Schedule of allowance for credit losses on trade receivables	The activity in the allowance for expected current credit losses on trade receivables during the period from January 1, 2020 to June 30, 2020 , was as follows: (In thousands) June 30, 2020 Balance at beginning of period $ 3,460 Current period provision for expected credit losses 713 Write-offs (1,427 ) Recoveries of amounts previously written-off 3 Balance at end of period $ 2,749

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Summary of property and equipment, net	Property and equipment, net consists of the following: (Dollar amounts in thousands) Useful life June 30, 2020 December 31, 2019 Buildings 30 $ 1,515 $ 1,542 Data processing equipment 3 - 5 119,100 116,950 Furniture and equipment 3 - 20 7,138 6,936 Leasehold improvements 5 -10 3,015 2,814 130,768 128,242 Less - accumulated depreciation and amortization (90,881 ) (85,780 ) Depreciable assets, net 39,887 42,462 Land 1,312 1,329 Property and equipment, net $ 41,199 $ 43,791

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of 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 15): (In thousands) Payment Payment Merchant Business Total Balance at December 31, 2019 $ 160,972 $ 54,571 $ 138,121 $ 45,823 $ 399,487 Foreign currency translation adjustments — (3,862 ) — — (3,862 ) Balance at June 30, 2020 $ 160,972 $ 50,709 $ 138,121 $ 45,823 $ 395,625
Summary of carrying amount of other intangible assets	The carrying amount of other intangible assets at June 30, 2020 and December 31, 2019 was as follows: June 30, 2020 (Dollar amounts in thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 14 $ 343,756 $ (233,324 ) $ 110,432 Trademarks 10 - 15 41,919 (34,262 ) 7,657 Software packages 3 - 10 267,204 (180,477 ) 86,727 Non-compete agreement 15 56,539 (36,750 ) 19,789 Other intangible assets, net $ 709,418 $ (484,813 ) $ 224,605 December 31, 2019 (Dollar amounts in thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 14 $ 344,883 $ (220,434 ) $ 124,449 Trademarks 2 - 15 42,025 (32,456 ) 9,569 Software packages 3 - 10 256,220 (169,974 ) 86,246 Non-compete agreement 15 56,539 (34,866 ) 21,673 Other intangible assets, net $ 699,667 $ (457,730 ) $ 241,937
Summary of estimated amortization expenses	The estimated amortization expense of the balances outstanding at June 30, 2020 for the next five years is as follows: (Dollar amounts in thousands) Remaining 2020 $ 25,563 2021 47,008 2022 41,727 2023 36,783 2024 28,458

Debt and Short-Term Borrowings

Debt and Short-Term Borrowings (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Summary of total debt	Total debt at June 30, 2020 and December 31, 2019 follows: (In thousands) June 30, 2020 December 31, 2019 2023 Term A Loan bearing interest at a variable interest rate (LIBOR plus applicable margin (1)(2) ) $ 194,058 $ 207,261 2024 Term B Loan bearing interest at a variable interest rate (LIBOR plus applicable margin (1)(3) ) 307,764 317,936 Senior Secured Revolving Credit Facility (2) 15,000 — Note payable due April 30, 2021 (1) 111 175 Note payable due January 1, 2022 (1) 1,373 2,231 Total debt $ 518,306 $ 527,603 (1) Net of unaccreted discount and unamortized debt issue costs, as applicable. (2) Applicable margin of 1.75% at June 30, 2020 and 2.00% at December 31, 2019 . (3) Subject to a minimum rate ("LIBOR floor") of 0% plus applicable margin of 3.50% at June 30, 2020 and December 31, 2019 .
Summary of interest rate swap transaction	As of June 30, 2020 , the Company has an interest rate swap agreement, entered into in December 2018, which converts 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 2018 Swap April 2020 November 2024 $250 million 1-month LIBOR 2.89%

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Summary of 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 June 30, 2020 and December 31, 2019 : June 30, 2020 December 31, 2019 (In thousands) Carrying Fair Carrying Fair Financial liabilities: Interest rate swap $ 28,123 $ 28,123 $ 14,452 $ 14,452 2023 Term A Loan 194,058 187,439 207,261 206,388 2024 Term B Loan 307,764 300,105 317,936 324,163

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2020
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 six months ended June 30, 2020 : (In thousands) Foreign Currency Cash Flow Hedges Total Balance - December 31, 2019, net of tax $ (16,872 ) $ (13,137 ) $ (30,009 ) Other comprehensive loss before reclassifications (7,238 ) (14,110 ) (21,348 ) Effective portion reclassified to net income — 1,573 1,573 Balance - June 30, 2020, net of tax $ (24,110 ) $ (25,674 ) $ (49,784 )

Share-based Compensation (Table

Share-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Summary of nonvested restricted shares and RSUs activity	The following table summarizes nonvested restricted shares and RSUs activity for the six months ended June 30, 2020 : Nonvested restricted shares and RSUs Shares Weighted-average Nonvested at December 31, 2019 1,592,755 $ 20.71 Forfeited (147,136 ) 19.18 Vested (337,452 ) 26.24 Granted 413,733 31.62 Nonvested at June 30, 2020 1,521,900 $ 23.83

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Summary of disaggregation of revenue	In the following tables, revenue for each segment is disaggregated by timing of revenue recognition for the periods indicated. Three months ended June 30, 2020 (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 $ 32 $ 206 $ — $ 2,765 $ 3,003 Products and services transferred over time 19,553 17,887 24,765 52,729 114,934 $ 19,585 $ 18,093 $ 24,765 $ 55,494 $ 117,937 Three months ended June 30, 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 $ 115 $ 121 $ — $ 2,774 $ 3,010 Products and services transferred over time 20,585 19,751 26,793 52,409 119,538 $ 20,700 $ 19,872 $ 26,793 $ 55,183 $ 122,548 Six months ended June 30, 2020 (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 $ 37 $ 637 $ — $ 3,062 $ 3,736 Products and services transferred over time 40,186 37,696 49,886 108,375 236,143 $ 40,223 $ 38,333 $ 49,886 $ 111,437 $ 239,879 Six months ended June 30, 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 $ 2,792 $ 191 $ — $ 3,651 $ 6,634 Products and services transferred over time 40,658 38,429 52,767 102,896 234,750 $ 43,450 $ 38,620 $ 52,767 $ 106,547 $ 241,384
Summary of contract balances	The following table provides information about contract assets from contracts with customers. (In thousands) June 30, 2020 December 31, 2019 $ 1,191 Services transferred to customers 1,849 Transfers to accounts receivable (826 ) June 30, 2020 $ 2,214

Income Tax (Tables)

Income Tax (Tables)	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Components of income tax expense (benefit)	The components of income tax expense for the three and six months ended June 30, 2020 and 2019 , respectively, consisted of the following: Three months ended June 30, Six months ended June 30, (In thousands) 2020 2019 2020 2019 Current tax provision $ 4,654 $ 3,428 $ 10,252 $ 8,119 Deferred tax benefit (134 ) (939 ) (1,214 ) (1,821 ) Income tax expense $ 4,520 $ 2,489 $ 9,038 $ 6,298
Segregation of income tax expense based on location of operations	The following table presents the components of income tax expense for the three and six months ended June 30, 2020 and 2019 , and its segregation based on location of operations: Three months ended June 30, Six months ended June 30, (In thousands) 2020 2019 2020 2019 Current tax provision (benefit) Puerto Rico $ 1,528 $ 1,503 $ 3,207 $ 3,316 United States 139 (97 ) 294 15 Foreign countries 2,987 2,022 6,751 4,788 Total current tax provision $ 4,654 $ 3,428 $ 10,252 $ 8,119 Deferred tax (benefit) provision Puerto Rico $ (458 ) $ (1,119 ) $ (546 ) $ (1,595 ) United States 1,126 373 1,101 1 Foreign countries (802 ) (193 ) (1,769 ) (227 ) Total deferred tax benefit $ (134 ) $ (939 ) $ (1,214 ) $ (1,821 )
Schedule of income tax expense differs from computed income tax at statutory rates	Income tax expense differs from the amount computed by applying the Puerto Rico statutory income tax rate to the income before income taxes as a result of the following: Six months ended June 30, (In thousands) 2020 2019 Computed income tax at statutory rates $ 17,602 $ 22,563 Benefit of net tax-exempt interest income (15 ) (36 ) Differences in tax rates due to multiple jurisdictions 1,149 3 Tax benefit due to a change in estimate 131 300 Effect of income subject to tax-exemption grant (12,050 ) (16,322 ) Unrecognized tax expense 193 202 Other expense (benefit) 2,028 (412 ) Income tax expense $ 9,038 $ 6,298

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2020
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 June 30, Six months ended June 30, (Dollar amounts in thousands, except per share information) 2020 2019 2020 2019 Net income attributable to EVERTEC, Inc.’s common stockholders $ 15,484 $ 27,058 $ 37,695 $ 53,702 Weighted average common shares outstanding 71,864,499 72,128,795 71,938,574 72,252,974 Weighted average potential dilutive common shares (1) 909,866 1,171,758 1,080,645 1,396,959 Weighted average common shares outstanding - assuming dilution 72,774,365 73,300,553 73,019,219 73,649,933 Net income per common share - basic $ 0.22 $ 0.38 $ 0.52 $ 0.74 Net income per common share - diluted $ 0.21 $ 0.37 $ 0.52 $ 0.73 (1) Potential common shares consist of common stock issuable under the assumed release of restricted stock awards using the treasury stock method.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Summary transactions with related parties	The following table presents the Company’s transactions with related parties for the three and six months ended June 30, 2020 and 2019 : Three months ended June 30, Six months ended June 30, (Dollar amounts in thousands) 2020 2019 2020 2019 Total revenues (1)(2) $ 53,788 $ 52,290 $ 108,360 $ 101,320 Cost of revenues $ 1,782 $ 1,338 $ 2,400 $ 1,861 Operating lease cost and other fees $ 2,060 $ 2,090 $ 4,041 $ 4,218 Interest earned from affiliate Interest income $ 108 $ 27 $ 197 $ 55 (1) Popular revenues as a percentage of total revenues were 45% , 42% , 45% and 42% , respectively, for each of the periods presented above. (2) Includes revenues generated from investee accounted for under the equity method of $0.1 million , $0.2 million , $0.4 million , and $0.5 million , respectively, for each of the periods presented above.
Summary of balances of transactions with related parties	As of June 30, 2020 and December 31, 2019 , EVERTEC had the following balances arising from transactions with related parties: (Dollar amounts in thousands) June 30, 2020 December 31, 2019 Cash and restricted cash deposits in affiliated bank $ 96,113 $ 64,724 Other due to/from affiliate Accounts receivable $ 30,894 $ 39,095 Prepaid expenses and other assets $ 4,374 $ 4,211 Operating lease right-of use assets $ 18,878 $ 20,617 Other long-term assets $ 28 $ 57 Accounts payable $ 3,763 $ 7,250 Unearned income $ 35,846 $ 35,489 Operating lease liabilities $ 19,252 $ 20,905

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Summary of 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 June 30, 2020 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 27,461 $ 19,797 $ 24,764 $ 55,495 $ (9,580 ) $ 117,937 Operating costs and expenses 17,453 17,947 12,230 37,008 7,709 92,347 Depreciation and amortization 3,193 2,815 455 4,381 6,995 17,839 Non-operating income (expenses) (178 ) 584 158 684 (883 ) 365 EBITDA 13,023 5,249 13,147 23,552 (11,177 ) 43,794 Compensation and benefits (2) 253 835 235 472 1,956 3,751 Transaction, refinancing and other fees (3) — — — — 2,656 2,656 Adjusted EBITDA $ 13,276 $ 6,084 $ 13,382 $ 24,024 $ (6,565 ) $ 50,201 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $7.3 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software developments and transaction processing of $2.3 million from Payment Services - Latin America to Payment Services - Puerto Rico & Caribbean. 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 $4.3 million . (2) Primarily represents share-based compensation. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the 2018 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 June 30, 2019 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 30,482 $ 21,106 $ 26,793 $ 55,183 $ (11,016 ) $ 122,548 Operating costs and expenses 13,630 17,654 15,230 35,959 2,387 84,860 Depreciation and amortization 2,740 2,547 423 4,479 7,006 17,195 Non-operating income (expenses) 470 1,601 10 34 (3,061 ) (946 ) EBITDA 20,062 7,600 11,996 23,737 (9,458 ) 53,937 Compensation and benefits (2) 257 173 255 529 2,284 3,498 Transaction, refinancing and other fees (3) — — — — 362 362 Adjusted EBITDA $ 20,319 $ 7,773 $ 12,251 $ 24,266 $ (6,812 ) $ 57,797 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $9.7 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software sale and developments of $1.3 million from Payment Services - Latin America to Payment Services - Puerto Rico & Caribbean. 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 $5.5 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 2018 Credit Agreement and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A., net of cash dividends received. Six months ended June 30, 2020 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 57,348 $ 41,437 $ 49,885 $ 111,438 $ (20,229 ) $ 239,879 Operating costs and expenses 34,859 35,598 26,936 70,625 13,508 181,526 Depreciation and amortization 6,442 5,572 954 8,677 13,989 35,634 Non-operating income (expenses) (65 ) 1,338 312 1,071 (1,845 ) 811 EBITDA 28,866 12,749 24,215 50,561 (21,593 ) 94,798 Compensation and benefits (2) 484 1,577 451 908 3,831 7,251 Transaction, refinancing and other fees (3) — — — — 4,442 4,442 Adjusted EBITDA $ 29,350 $ 14,326 $ 24,666 $ 51,469 $ (13,320 ) $ 106,491 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $16.3 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software developments and transaction processing of $3.9 million from Payment Services - Latin America to Payment Services - Puerto Rico & Caribbean. 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 $9.4 million . (2) Primarily represents share-based compensation. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the 2018 Credit Agreement and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A. Six months ended June 30, 2019 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 62,499 $ 41,937 $ 52,767 $ 106,547 $ (22,366 ) $ 241,384 Operating costs and expenses 27,845 35,227 29,948 68,869 4,402 166,291 Depreciation and amortization 5,383 4,743 891 8,333 14,118 33,468 Non-operating income (expenses) 1,051 4,235 31 220 (6,053 ) (516 ) EBITDA 41,088 15,688 23,741 46,231 (18,703 ) 108,045 Compensation and benefits (2) 494 339 475 1,083 4,546 6,937 Transaction, refinancing and other fees (3) — 2 — — 409 411 Adjusted EBITDA $ 41,582 $ 16,029 $ 24,216 $ 47,314 $ (13,748 ) $ 115,393 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $18.9 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software sale and developments of $3.4 million from Payment Services - Latin America to the Payment Services - Puerto Rico & Caribbean. 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 $10.3 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 2018 Credit Agreement and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A., net of cash dividends received.
Reconciliation of income from operations to consolidated net income	The reconciliation of EBITDA to consolidated net income is as follows: Three months ended June 30, Six months ended June 30, (In thousands) 2020 2019 2020 2019 Total EBITDA $ 43,794 $ 53,937 $ 94,798 $ 108,045 Less: Income tax expense 4,520 2,489 9,038 6,298 Interest expense, net 5,810 7,116 12,226 14,408 Depreciation and amortization 17,839 17,195 35,634 33,468 Net income $ 15,625 $ 27,137 $ 37,900 $ 53,871

The Company and Basis of Pres_3

The Company and Basis of Presentation (Detail) $ in Millions	May 01, 2020USD ($)	Apr. 30, 2020USD ($)	Jun. 30, 2020USD ($)country
Change in Accounting Estimate [Line Items]
Number of countries where the company provides a broad range of merchant acquiring, payment processing and business process management services (in country) | country			26
Expected payroll taxes deferral	$ 2.7
Payroll taxes deferred			$ 0.8
Senior Secured Revolving Credit Facility | Credit Facility
Change in Accounting Estimate [Line Items]
Revolving credit facility draw down		$ 30

Current Expected Credit Losse_3

Current Expected Credit Losses (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 3,460
Current period provision for expected credit losses	713
Write-offs	(1,427)
Recoveries of amounts previously written-off	3
Balance at end of period	$ 2,749

Property and Equipment, net (De

Property and Equipment, net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Property and Equipment, net
Property and equipment, gross	$ 130,768		$ 130,768		$ 128,242
Less - accumulated depreciation and amortization	(90,881)		(90,881)		(85,780)
Depreciable assets, net	39,887		39,887		42,462
Land	1,312		1,312		1,329
Property and equipment, net	41,199		41,199		43,791
Depreciation and amortization expense related to property and equipment	4,300	$ 4,300	$ 8,500	$ 8,300
Buildings
Property and Equipment, net
Useful life in years			30 years
Property and equipment, gross	1,515		$ 1,515		1,542
Data processing equipment
Property and Equipment, net
Property and equipment, gross	119,100		$ 119,100		116,950
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	7,138		$ 7,138		6,936
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	$ 3,015		$ 3,015		$ 2,814
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	6 Months Ended
	Jun. 30, 2020USD ($)
Changes in the Carrying Amount of Goodwill
Beginning balance	$ 399,487
Foreign currency translation adjustments	(3,862)
Ending balance	395,625
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	54,571
Foreign currency translation adjustments	(3,862)
Ending balance	50,709
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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of goodwill			$ 0
Amortization expense for intangible assets	$ 13,500,000	$ 12,900,000	$ 27,100,000	$ 25,100,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Other Intangible Assets (Detail) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 709,418		$ 699,667
Accumulated amortization	(484,813)		(457,730)
Net carrying amount	224,605		241,937
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross amount	343,756		344,883
Accumulated amortization	(233,324)		(220,434)
Net carrying amount	$ 110,432		124,449
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
Trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 41,919		42,025
Accumulated amortization	(34,262)		(32,456)
Net carrying amount	$ 7,657		9,569
Trademarks | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life in years	10 years	2 years
Trademarks | 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	$ 267,204		256,220
Accumulated amortization	(180,477)		(169,974)
Net carrying amount	$ 86,727		$ 86,246
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	(36,750)		(34,866)
Net carrying amount	$ 19,789		$ 21,673

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Estimated Amortization Expenses (Detail) $ in Thousands	Jun. 30, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining 2020	$ 25,563
2021	47,008
2022	41,727
2023	36,783
2024	$ 28,458

Debt and Short-Term Borrowing_2

Debt and Short-Term Borrowings - Total Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total debt	$ 518,306	$ 527,603
Note Payable due on April 30, 2021 | Notes Payable
Debt Instrument [Line Items]
Note payable	111	175
Note Payable due on January 1, 2022 | Notes Payable
Debt Instrument [Line Items]
Note payable	1,373	2,231
Term A due on November 27,2023 | Credit Facility
Debt Instrument [Line Items]
Credit facility	$ 194,058	$ 207,261
Fixed rate	1.75%	2.00%
Term B due on November 27, 2024 | Credit Facility
Debt Instrument [Line Items]
Credit facility	$ 307,764	$ 317,936
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)	Mar. 05, 2020USD ($)	Apr. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2018USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)agreement	Nov. 27, 2018USD ($)
Debt Instrument [Line Items]
Gains reclassified from accumulated other comprehensive loss into income			$ 1,400,000		$ 1,600,000
Losses expected to be reclassified from accumulated other comprehensive loss into income in the next 12 months			6,800,000		6,800,000
Interest Rate Swap Maturing April 2020 Agreement
Debt Instrument [Line Items]
Notional amount			$ 200,000,000		$ 200,000,000
Fixed rate			1.9225%		1.9225%
Credit Agreement 2018
Debt Instrument [Line Items]
Mandatory prepayment trigger, maximum value of excess cash flow				$ 10,000,000
Credit Facility | Credit Agreement 2018
Debt Instrument [Line Items]
Credit facility, payment	$ 17,000,000
Notes Payable | December 2019 Financing Agreement
Debt Instrument [Line Items]
Non interest bearing financing agreement						$ 2,400,000
Notes payable			$ 1,500,000		$ 1,500,000	$ 2,400,000
Number of financing agreements | agreement						2
Term A due on November 27,2023 | Credit Facility
Debt Instrument [Line Items]
Secured credit facilities			$ 195,500,000		$ 195,500,000
Fixed rate			1.75%		1.75%	2.00%
Term A due on November 27,2023 | Credit Facility | Credit Agreement 2018
Debt Instrument [Line Items]
Maximum amount under credit facilities							$ 220,000,000
Term B due on November 27, 2024 | Credit Facility
Debt Instrument [Line Items]
Secured credit facilities			$ 311,100,000		$ 311,100,000
Term B due on November 27, 2024 | Credit Facility | Credit Agreement 2018
Debt Instrument [Line Items]
Maximum amount under credit facilities							325,000,000
Senior Secured Revolving Credit Facility | Credit Facility
Debt Instrument [Line Items]
Additional borrowing capacity available under the revolving facility			$ 86,700,000		$ 86,700,000
Revolving credit facility draw down		$ (30,000,000)
Senior Secured Revolving Credit Facility | Credit Facility | Credit Agreement 2018
Debt Instrument [Line Items]
Maximum amount under credit facilities							$ 125,000,000

Debt and Short-Term Borrowing_4

Debt and Short-Term Borrowings - Summary of Interest Rate Swap Transaction (Detail) - 2018 Interest Rate Swap Agreement	6 Months Ended
	Jun. 30, 2020USD ($)
Derivative [Line Items]
Notional Amount	$ 250,000,000
1-month LIBOR
Derivative [Line Items]
Fixed Rate	2.89%

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Carrying Amount
Financial liabilities:
Interest rate swap	$ 28,123	$ 14,452

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Carrying Value and Estimated Fair Values (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Carrying Amount
Financial liabilities:
Interest rate swap	$ 28,123	$ 14,452
Carrying Amount | Credit Facility | 2023 Term A Loan
Financial liabilities:
Senior secured term loan	194,058	207,261
Carrying Amount | Credit Facility | 2024 Term B Loan
Financial liabilities:
Senior secured term loan	307,764	317,936
Fair Value
Financial liabilities:
Interest rate swap	28,123	14,452
Fair Value | Credit Facility | 2023 Term A Loan
Financial liabilities:
Senior secured term loan	187,439	206,388
Fair Value | Credit Facility | 2024 Term B Loan
Financial liabilities:
Senior secured term loan	$ 300,105	$ 324,163

Equity (Detail)

Equity (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	$ 271,623
Other comprehensive loss before reclassifications	(21,348)
Effective portion reclassified to net income	1,573
Ending balance	278,968
Foreign Currency Translation Adjustments
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	(16,872)
Other comprehensive loss before reclassifications	(7,238)
Effective portion reclassified to net income	0
Ending balance	(24,110)
Cash Flow Hedges
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	(13,137)
Other comprehensive loss before reclassifications	(14,110)
Effective portion reclassified to net income	1,573
Ending balance	(25,674)
Total
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	(30,009)
Ending balance	$ (49,784)

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expenses	$ 3.6	$ 3.4	$ 7.1	$ 6.7
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum unrecognized cost for stocks and RSU's	$ 23.6		$ 23.6
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
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance adjustment percent			25.00%
Awards with Performance Conditions | 2018 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
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	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Shares
Beginning balance (in shares) | shares	1,592,755
Forfeited (in shares) | shares	(147,136)
Vested (in shares) | shares	(337,452)
Granted (in shares) | shares	413,733
Ending balance (in shares) | shares	1,521,900
Weighted-average grant date fair value
Beginning balance (in usd per share) | $ / shares	$ 20.71
Forfeited (in usd per share) | $ / shares	19.18
Vested (in usd per share) | $ / shares	26.24
Granted (in usd per share) | $ / shares	31.62
Ending balance (in usd per share) | $ / shares	$ 23.83

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 117,937	$ 122,548	$ 239,879	$ 241,384
Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	3,003	3,010	3,736	6,634
Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	114,934	119,538	236,143	234,750
Payment Services - Puerto Rico & Caribbean
Disaggregation of Revenue [Line Items]
Revenues	19,585	20,700	40,223	43,450
Payment Services - Puerto Rico & Caribbean | Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	32	115	37	2,792
Payment Services - Puerto Rico & Caribbean | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	19,553	20,585	40,186	40,658
Payment Services - Latin America
Disaggregation of Revenue [Line Items]
Revenues	18,093	19,872	38,333	38,620
Payment Services - Latin America | Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	206	121	637	191
Payment Services - Latin America | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	17,887	19,751	37,696	38,429
Merchant Acquiring, net
Disaggregation of Revenue [Line Items]
Revenues	24,765	26,793	49,886	52,767
Merchant Acquiring, net | Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Merchant Acquiring, net | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	24,765	26,793	49,886	52,767
Business Solutions
Disaggregation of Revenue [Line Items]
Revenues	55,494	55,183	111,437	106,547
Business Solutions | Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	2,765	2,774	3,062	3,651
Business Solutions | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	$ 52,729	$ 52,409	$ 108,375	$ 102,896

Revenues - Contract Balances (D

Revenues - Contract Balances (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Revenue, Contract Balances [Roll Forward]
Beginning balance	$ 1,191
Services transferred to customers	1,849
Transfers to accounts receivable	(826)
Ending balance	$ 2,214

Revenues - Additional Informati

Revenues - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Accounts receivable, net	$ 91,744		$ 91,744		$ 106,812
Unearned income	22,103		22,103		20,668
Unearned income - long term	28,679		28,679		$ 28,437
Revenue recognized that was included in unearned income	4,000	$ 5,200	9,200	$ 11,300
Transaction price allocated to performance obligations that are unsatisfied or partially satisfied	$ 322,500		$ 322,500
Professional Services, All Other Contracts | Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period of expected timing of satisfaction	2 years		2 years
Professional Services, All Other Contracts | Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period of expected timing of satisfaction	5 years		5 years

Income Tax - Components of Inco

Income Tax - Components of Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Current tax provision	$ 4,654	$ 3,428	$ 10,252	$ 8,119
Deferred tax benefit	(134)	(939)	(1,214)	(1,821)
Income tax expense	$ 4,520	$ 2,489	$ 9,038	$ 6,298

Income Tax - Tax Expense Based

Income Tax - Tax Expense Based on Location (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Current tax provision (benefit)
Puerto Rico	$ 1,528	$ 1,503	$ 3,207	$ 3,316
United States	139	(97)	294	15
Foreign countries	2,987	2,022	6,751	4,788
Total current tax provision	4,654	3,428	10,252	8,119
Deferred tax (benefit) provision
Puerto Rico	(458)	(1,119)	(546)	(1,595)
United States	1,126	373	1,101	1
Foreign countries	(802)	(193)	(1,769)	(227)
Total deferred tax benefit	$ (134)	$ (939)	$ (1,214)	$ (1,821)

Income Tax - Additional Informa

Income Tax - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Unremitted earnings from foreign subsidiaries	$ 70.2
Gross deferred tax asset	19.4	$ 13.1
Gross deferred tax liability	$ 19	$ 18.7

Income Tax - Income Tax Expense

Income Tax - Income Tax Expense Differs from Computed Income Tax at Statutory Rates (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Computed income tax at statutory rates			$ 17,602	$ 22,563
Benefit of net tax-exempt interest income			(15)	(36)
Differences in tax rates due to multiple jurisdictions			1,149	3
Tax benefit due to a change in estimate			131	300
Effect of income subject to tax-exemption grant			(12,050)	(16,322)
Unrecognized tax expense			193	202
Other expense (benefit)			2,028	(412)
Income tax expense	$ 4,520	$ 2,489	$ 9,038	$ 6,298

Net Income Per Common Share - R

Net Income Per Common Share - Reconciliation of Income Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	Apr. 21, 2020	Feb. 20, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net income attributable to EVERTEC, Inc.’s common stockholders			$ 15,484		$ 27,058		$ 37,695	$ 53,702
Weighted average common shares outstanding (in shares)			71,864,499		72,128,795		71,938,574	72,252,974
Weighted average potential dilutive common shares (in shares)			909,866		1,171,758		1,080,645	1,396,959
Weighted average common shares outstanding - assuming dilution (in shares)			72,774,365		73,300,553		73,019,219	73,649,933
Net income per common share - basic (in usd per share)			$ 0.22		$ 0.38		$ 0.52	$ 0.74
Net income per common share - diluted (in usd per share)			0.21		0.37		$ 0.52	$ 0.73
Cash dividends declared (in usd per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05

Related Party Transactions - Tr

Related Party Transactions - Transactions with Related Parties (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Transactions with Third Party
Total revenues	$ 53,788	$ 52,290	$ 108,360	$ 101,320
Cost of revenues	1,782	1,338	2,400	1,861
Operating lease cost and other fees	2,060	2,090	4,041	4,218
Interest earned from affiliate
Interest income	108	27	197	55
Earnings (losses) of equity method investment	193	133	531	355
Popular
Interest earned from affiliate
Earnings (losses) of equity method investment	$ 100	$ 200	$ 400	$ 500
Popular | Customer Concentration Risk | Total Revenue
Interest earned from affiliate
Total percentage of revenues from Popular	45.00%	42.00%	45.00%	42.00%

Related Party Transactions - Ba

Related Party Transactions - Balances of Transactions (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Related Party Transactions [Abstract]
Cash and restricted cash deposits in affiliated bank	$ 96,113	$ 64,724
Other due to/from affiliate
Accounts receivable	30,894	39,095
Prepaid expenses and other assets	4,374	4,211
Operating lease right-of use assets	18,878	20,617
Other long-term assets	28	57
Accounts payable	3,763	7,250
Unearned income	35,846	35,489
Operating lease liabilities	$ 19,252	$ 20,905

Segment Information - Operation

Segment Information - Operations by Segments (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)
Segment Reporting Information [Line Items]
Number of operating business segments (in segment) | segment			4
Revenues	$ 117,937	$ 122,548	$ 239,879	$ 241,384
Operating costs and expenses	92,347	84,860	181,526	166,291
Depreciation and amortization	17,839	17,195	35,634	33,468
Non-operating income (expenses)	365	(946)	811	(516)
EBITDA	43,794	53,937	94,798	108,045
Compensation and benefits	3,751	3,498	7,251	6,937
Transaction, refinancing and other fees	2,656	362	4,442	411
Adjusted EBITDA	$ 50,201	$ 57,797	$ 106,491	$ 115,393
Consorcio de Tarjetas Dominicanas S.A.
Segment Reporting Information [Line Items]
Equity investment	19.99%	19.99%	19.99%	19.99%
Payment Services - Puerto Rico & Caribbean
Segment Reporting Information [Line Items]
Revenues	$ 19,585	$ 20,700	$ 40,223	$ 43,450
Payment Services - Latin America
Segment Reporting Information [Line Items]
Revenues	18,093	19,872	38,333	38,620
Merchant Acquiring, net
Segment Reporting Information [Line Items]
Revenues	24,765	26,793	49,886	52,767
Business Solutions
Segment Reporting Information [Line Items]
Revenues	55,494	55,183	111,437	106,547
Operating Segments | Payment Services - Puerto Rico & Caribbean
Segment Reporting Information [Line Items]
Revenues	27,461	30,482	57,348	62,499
Operating costs and expenses	17,453	13,630	34,859	27,845
Depreciation and amortization	3,193	2,740	6,442	5,383
Non-operating income (expenses)	(178)	470	(65)	1,051
EBITDA	13,023	20,062	28,866	41,088
Compensation and benefits	253	257	484	494
Transaction, refinancing and other fees	0	0	0	0
Adjusted EBITDA	13,276	20,319	29,350	41,582
Operating Segments | Payment Services - Latin America
Segment Reporting Information [Line Items]
Revenues	19,797	21,106	41,437	41,937
Operating costs and expenses	17,947	17,654	35,598	35,227
Depreciation and amortization	2,815	2,547	5,572	4,743
Non-operating income (expenses)	584	1,601	1,338	4,235
EBITDA	5,249	7,600	12,749	15,688
Compensation and benefits	835	173	1,577	339
Transaction, refinancing and other fees	0	0	0	2
Adjusted EBITDA	6,084	7,773	14,326	16,029
Operating Segments | Merchant Acquiring, net
Segment Reporting Information [Line Items]
Revenues	24,764	26,793	49,885	52,767
Operating costs and expenses	12,230	15,230	26,936	29,948
Depreciation and amortization	455	423	954	891
Non-operating income (expenses)	158	10	312	31
EBITDA	13,147	11,996	24,215	23,741
Compensation and benefits	235	255	451	475
Transaction, refinancing and other fees	0	0	0	0
Adjusted EBITDA	13,382	12,251	24,666	24,216
Operating Segments | Business Solutions
Segment Reporting Information [Line Items]
Revenues	55,495	55,183	111,438	106,547
Operating costs and expenses	37,008	35,959	70,625	68,869
Depreciation and amortization	4,381	4,479	8,677	8,333
Non-operating income (expenses)	684	34	1,071	220
EBITDA	23,552	23,737	50,561	46,231
Compensation and benefits	472	529	908	1,083
Transaction, refinancing and other fees	0	0	0	0
Adjusted EBITDA	24,024	24,266	51,469	47,314
Corporate and Other
Segment Reporting Information [Line Items]
Revenues	(9,580)	(11,016)	(20,229)	(22,366)
Operating costs and expenses	7,709	2,387	13,508	4,402
Depreciation and amortization	6,995	7,006	13,989	14,118
Non-operating income (expenses)	(883)	(3,061)	(1,845)	(6,053)
EBITDA	(11,177)	(9,458)	(21,593)	(18,703)
Compensation and benefits	1,956	2,284	3,831	4,546
Transaction, refinancing and other fees	2,656	362	4,442	409
Adjusted EBITDA	(6,565)	(6,812)	(13,320)	(13,748)
Payment Processing | Corporate and Other
Segment Reporting Information [Line Items]
Revenues	7,300	9,700	16,300	18,900
Payment Processing | Corporate and Other | Payment Services - Latin America
Segment Reporting Information [Line Items]
Revenues	4,300	5,500	9,400	10,300
Software Sale And Developments | Corporate and Other
Segment Reporting Information [Line Items]
Revenues	$ 2,300	$ 1,300	$ 3,900	$ 3,400

Segment Information - Income fr

Segment Information - Income from Segments to Consolidated Net Income (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting [Abstract]
Total EBITDA	$ 43,794		$ 53,937		$ 94,798	$ 108,045
Less:
Income tax expense	4,520		2,489		9,038	6,298
Interest expense, net	5,810		7,116		12,226	14,408
Depreciation and amortization	17,839		17,195		35,634	33,468
Net income	$ 15,625	$ 22,275	$ 27,137	$ 26,734	$ 37,900	$ 53,871

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Jul. 24, 2020	Apr. 21, 2020	Feb. 20, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Subsequent Event [Line Items]
Cash dividends declared (in usd per share)		$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared (in usd per share)	$ 0.05