EVERTEC (EVTC) 10-Q 28 Oct 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Oct. 20, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-35872
Entity Registrant Name	EVERTEC, Inc.
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)		71,969,856
Entity Central Index Key	0001559865
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 244,129	$ 202,649
Restricted cash	18,664	18,456
Accounts receivable, net	95,548	95,727
Prepaid expenses and other assets	44,733	42,214
Total current assets	403,074	359,046
Debt securities available-for-sale, at fair value	3,060	0
Investment in equity investee	11,248	12,835
Property and equipment, net	42,780	43,538
Operating lease right-of-use asset	22,625	27,538
Goodwill	394,536	397,670
Other intangible assets, net	219,615	219,909
Deferred tax asset	4,993	5,730
Net investment in leases	178	301
Other long-term assets	6,384	6,012
Total assets	1,108,493	1,072,579
Current Liabilities:
Accrued liabilities	68,555	58,033
Accounts payable	34,069	43,348
Contract liability	21,304	24,958
Income tax payable	4,597	6,573
Current portion of long-term debt	18,375	14,250
Operating lease payable	5,900	5,830
Total current liabilities	152,800	152,992
Long-term debt	449,435	481,041
Deferred tax liability	1,819	2,748
Contract liability - long term	31,109	31,336
Operating lease liability - long-term	17,511	22,402
Derivative liability	18,104	25,578
Other long-term liabilities	9,785	14,053
Total liabilities	680,563	730,150
Commitments and contingencies (Note 14)
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; 71,969,856 shares issued and outstanding as of September 30, 2021 (December 31, 2020 - 72,137,678)	719	721
Additional paid-in capital	3,708	5,340
Accumulated earnings	468,533	379,934
Accumulated other comprehensive loss, net of tax	(49,166)	(48,254)
Total EVERTEC, Inc. stockholders’ equity	423,794	337,741
Non-controlling interest	4,136	4,688
Total equity	427,930	342,429
Total liabilities and equity	$ 1,108,493	$ 1,072,579

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
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)	71,969,856	72,137,678
Common stock outstanding (in shares)	71,969,856	72,137,678

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenues (affiliates Note 15)	$ 145,883	$ 136,507	$ 434,559	$ 376,386
Operating costs and expenses
Cost of revenues, exclusive of depreciation and amortization	62,995	57,854	182,180	168,900
Selling, general and administrative expenses	17,126	16,682	49,980	51,528
Depreciation and amortization	18,745	18,127	56,091	53,761
Total operating costs and expenses	98,866	92,663	288,251	274,189
Income from operations	47,017	43,844	146,308	102,197
Non-operating income (expenses)
Interest income	504	429	1,343	1,165
Interest expense	(5,684)	(5,867)	(17,248)	(18,829)
Earnings of equity method investment	411	202	1,307	733
Other income, net	146	2,486	2,719	2,766
Total non-operating expenses	(4,623)	(2,750)	(11,879)	(14,165)
Income before income taxes	42,394	41,094	134,429	88,032
Income tax expense	7,134	6,513	14,474	15,551
Net income	35,260	34,581	119,955	72,481
Less: Net (loss) income attributable to non-controlling interest	(54)	118	(59)	323
Net income attributable to EVERTEC, Inc.’s common stockholders	35,314	34,463	120,014	72,158
Other comprehensive income (loss), net of tax of $382, $(2), $817 and $(1,087)
Foreign currency translation adjustments	(6,942)	(3,245)	(7,823)	(10,483)
Gain (loss) on cash flow hedge	1,537	643	6,814	(11,894)
Unrealized gain on change in fair value of debt securities available-for-sale	8	0	97	0
Total comprehensive income attributable to EVERTEC, Inc.’s common stockholders	$ 29,917	$ 31,861	$ 119,102	$ 49,781
Net income per common share - basic attributable to EVERTEC, Inc.’s common stockholders (in usd per share)	$ 0.49	$ 0.48	$ 1.66	$ 1
Net income per common share - diluted attributable to EVERTEC, Inc.’s common stockholders (in usd per share)	$ 0.48	$ 0.47	$ 1.65	$ 0.99

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Other comprehensive income (loss), tax	$ 382	$ (2)	$ 817	$ (1,087)

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, 2019			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	(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 income (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
Changes in Stockholders’ Equity
Cash dividends declared (in usd per share)	$ 0.05
Beginning balance (in shares) at Dec. 31, 2019			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	72,481
Ending balance (in shares) at Sep. 30, 2020			71,906,245
Ending balance at Sep. 30, 2020	310,208		$ 719	6,552	351,252		(52,386)	4,071
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
Restricted stock units delivered (in shares)			2,445
Restricted stock units delivered	(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 income (loss)	684						389	295
Ending balance (in shares) at Jun. 30, 2020			71,862,860
Ending balance at Jun. 30, 2020	$ 278,968		$ 719	3,568	320,382		(49,784)	4,083
Changes in Stockholders’ Equity
Cash dividends declared (in usd per share)	$ 0.05
Share-based compensation recognized	$ 3,663			3,663
Repurchase of common stock	(679)			(679)
Restricted stock units delivered (in shares)			43,385
Net income	34,581				34,463			118
Cash dividends declared on common stock, $0.05 per share	(3,593)				(3,593)
Other comprehensive income (loss)	(2,732)						(2,602)	(130)
Ending balance (in shares) at Sep. 30, 2020			71,906,245
Ending balance at Sep. 30, 2020	$ 310,208		$ 719	6,552	351,252		(52,386)	4,071
Changes in Stockholders’ Equity
Cash dividends declared (in usd per share)	$ 0.05
Beginning balance (in shares) at Dec. 31, 2020	72,137,678		72,137,678
Beginning balance at Dec. 31, 2020	$ 342,429		$ 721	5,340	379,934		(48,254)	4,688
Changes in Stockholders’ Equity
Share-based compensation recognized	3,380			3,380
Repurchase of common stock (in shares)			(382,974)
Repurchase of common stock	(14,268)		$ (4)	(1,290)	(12,974)
Restricted stock units delivered (in shares)			411,739
Restricted stock units delivered	(8,728)		$ 4	(7,430)	(1,302)
Net income	35,604				35,503			101
Cash dividends declared on common stock, $0.05 per share	(3,605)				(3,605)
Other comprehensive income (loss)	1,195						1,576	(381)
Ending balance (in shares) at Mar. 31, 2021			72,166,443
Ending balance at Mar. 31, 2021	$ 356,007		$ 721	0	397,556		(46,678)	4,408
Changes in Stockholders’ Equity
Cash dividends declared (in usd per share)	$ 0.05
Beginning balance (in shares) at Dec. 31, 2020	72,137,678		72,137,678
Beginning balance at Dec. 31, 2020	$ 342,429		$ 721	5,340	379,934		(48,254)	4,688
Changes in Stockholders’ Equity
Net income	$ 119,955
Ending balance (in shares) at Sep. 30, 2021	71,969,856		71,969,856
Ending balance at Sep. 30, 2021	$ 427,930		$ 719	3,708	468,533		(49,166)	4,136
Beginning balance (in shares) at Mar. 31, 2021			72,166,443
Beginning balance at Mar. 31, 2021	356,007		$ 721	0	397,556		(46,678)	4,408
Changes in Stockholders’ Equity
Share-based compensation recognized	3,855			3,855
Repurchase of common stock (in shares)			(231,314)
Repurchase of common stock	(10,120)		$ (2)	(3,790)	(6,328)
Restricted stock units delivered (in shares)			34,727
Restricted stock units delivered	(65)			(65)
Net income	49,091				49,197			(106)
Cash dividends declared on common stock, $0.05 per share	(3,608)				(3,608)
Other comprehensive income (loss)	2,884						2,909	(25)
Ending balance (in shares) at Jun. 30, 2021			71,969,856
Ending balance at Jun. 30, 2021	$ 398,044		$ 719	0	436,817		(43,769)	4,277
Changes in Stockholders’ Equity
Cash dividends declared (in usd per share)	$ 0.05
Share-based compensation recognized	$ 3,708			3,708
Net income	35,260				35,314			(54)
Cash dividends declared on common stock, $0.05 per share	(3,598)				(3,598)
Other comprehensive income (loss)	$ (5,484)						(5,397)	(87)
Ending balance (in shares) at Sep. 30, 2021	71,969,856		71,969,856
Ending balance at Sep. 30, 2021	$ 427,930		$ 719	$ 3,708	$ 468,533		$ (49,166)	$ 4,136
Changes in Stockholders’ Equity
Cash dividends declared (in usd per share)	$ 0.05

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity (Parenthetical) - $ / shares	Jul. 22, 2021	Apr. 22, 2021	Feb. 18, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends declared on common stock (in usd per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05

Unaudited Condensed Consolida_7

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net income	$ 119,955	$ 72,481
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	56,091	53,761
Amortization of debt issue costs and accretion of discount	1,423	1,530
Operating lease amortization	4,443	4,377
Provision for expected credit losses and sundry losses	1,428	1,732
Deferred tax benefit	(1,119)	(2,082)
Share-based compensation	10,943	10,785
Gain from sale of assets	(778)	0
Loss on disposition of property and equipment and impairment of intangible	1,168	753
Earnings of equity method investment	(1,307)	(733)
Dividend received from equity method investment	1,183	0
(Increase) decrease in assets:
Accounts receivable, net	(593)	(7,096)
Prepaid expenses and other assets	(3,070)	(7,138)
Other long-term assets	(339)	284
(Decrease) increase in liabilities:
Accrued liabilities and accounts payable	(1,425)	(7,969)
Income tax payable	(2,685)	1,548
Contract liability	(2,654)	2,350
Operating lease liabilities	(4,107)	(5,720)
Other long-term liabilities	(2,702)	2,296
Total adjustments	55,900	48,678
Net cash provided by operating activities	175,855	121,159
Cash flows from investing activities
Additions to software	(31,004)	(23,521)
Acquisition of customer relationship	(14,750)	0
Property and equipment acquired	(12,388)	(13,402)
Proceeds from sales of property and equipment	805	3
Acquisition of available-for-sale debt securities	(2,968)	0
Net cash used in investing activities	(60,305)	(36,920)
Cash flows from financing activities
Statutory withholding taxes paid on share-based compensation	(8,793)	(3,456)
Repayment of short-term borrowings for purchase of equipment and software	(1,603)	(1,553)
Dividends paid	(10,811)	(10,786)
Repurchase of common stock	(24,388)	(7,300)
Repayment of long-term debt	(28,482)	(27,685)
Net cash used in financing activities	(74,077)	(50,780)
Effect of foreign exchange rate on cash, cash equivalents and restricted cash	215	(2,384)
Net increase in cash, cash equivalents and restricted cash	41,688	31,075
Cash, cash equivalents and restricted cash at beginning of the period	221,105	131,121
Cash, cash equivalents and restricted cash at end of the period	262,793	162,196
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	244,129	144,147
Restricted cash	18,664	18,049
Cash, cash equivalents and restricted cash	262,793	162,196
Supplemental disclosure of cash flow information:
Cash paid for interest	16,289	18,081
Cash paid for income taxes	19,468	15,257
Supplemental disclosure of non-cash activities:
Payable due to vendor related to equipment and software acquired	$ 739	$ 1,486

The Company and Basis of Presen

The Company and Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
The Company and Basis of Presentation	The Company and Basis of Presentation The Company EVERTEC, Inc. and its subsidiaries (collectively the “Company,” or “EVERTEC”) is a leading full-service transaction-processing business in Puerto Rico, the Caribbean and Latin America. The Company is based in Puerto Rico and provides a broad range of merchant acquiring, payment services 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 personal identification number ("PIN") debit networks in Latin America. EVERTEC manages a system of electronic payment networks and offers a comprehensive suite of services for core bank, cash processing and fulfillment in Puerto Rico. In addition, EVERTEC offers 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. 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, 2020, included in the Company’s 2020 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.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Issued Prior to 2021 and Not Yet Adopted 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 adoption of this guidance will not have an impact on the Company's unaudited condensed consolidated financial statements.

Debt Securities

Debt Securities	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Debt Securities	Debt Securities Accounting policy Debt securities available-for-sale are accounted for under the provisions of ASC 320 Investments – Debt and Equity Securities, which requires that debt securities available-for-sale ("AFS") be carried at fair value on the Company’s unaudited condensed consolidated balance sheets with unrealized gains (losses) recorded through other comprehensive income (“OCI”). Debt securities in an unrealized loss position which the Company intends to sell or for which it is more likely than not that the Company will be required to sell before recovery of the amortized cost basis, are written down to fair value through income. Quarterly, for debt securities in an unrealized loss position that the Company does not intend or will, more likely than not, not be required to sell, the Company evaluates if the decline in fair value has resulted from credit losses or other factors. If it is determined that the decline in fair value is related to credit losses, the Company records an allowance for credit losses, limited to the amount by which the fair value is less than the amortized cost basis. If the Company determines that the decline in value is related to factors other than credit, the Company recognizes the impairment through OCI. Debt securities were purchased close to the final trading day of the quarter ended March 31, 2021 and are held by a trust in the Costa Rica National Bank as a collateral requirement for settlement activities. The Company may substitute securities as needed but must maintain certain levels of collateral based on transaction volumes. The amortized cost, gross unrealized gains and losses recorded in OCI, and estimated fair value as of September 30, 2021 were as follows: September 30, 2021 (In thousands) Gross unrealized Amortized cost Gains Losses Fair Value Costa Rica Government Obligations After 1 to 5 years $ 2,963 97 — $ 3,060

Property and Equipment, net

Property and Equipment, net	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net Property and equipment, net consists of the following: (In thousands) Useful life September 30, 2021 December 31, 2020 Buildings 30 $ 1,394 $ 1,437 Data processing equipment 3 - 5 132,832 124,897 Furniture and equipment 3 - 20 7,372 6,691 Leasehold improvements 5 -10 3,126 3,098 144,724 136,123 Less - accumulated depreciation and amortization (103,160) (93,826) Depreciable assets, net 41,564 42,297 Land 1,216 1,241 Property and equipment, net $ 42,780 $ 43,538 Depreciation and amortization expense related to property and equipment for the three and nine months ended September 30, 2021 amounted to $4.2 million and $13.0 million, respectively, compared to $4.4 million and $12.9 million for the corresponding periods in 2020. During the nine months ended September 30, 2021, the Company recorded a loss on the disposition of damaged POS devices amounting to $0.5 million through cost of revenues.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2021
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 16): (In thousands) Payment Payment Merchant Business Total Balance at December 31, 2020 $ 160,972 $ 52,754 $ 138,121 $ 45,823 $ 397,670 Foreign currency translation adjustments — (3,134) — — (3,134) Balance at September 30, 2021 $ 160,972 $ 49,620 $ 138,121 $ 45,823 $ 394,536 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. No impairment losses were recognized for the periods ended September 30, 2021 or 2020. The carrying amount of other intangible assets at September 30, 2021 and December 31, 2020 was as follows: September 30, 2021 (In thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 14 $ 358,191 $ (266,047) $ 92,144 Trademarks 2 - 15 41,926 (36,385) 5,541 Software packages 3 - 10 317,799 (210,946) 106,853 Non-compete agreement 15 56,539 (41,462) 15,077 Other intangible assets, net $ 774,455 $ (554,840) $ 219,615 December 31, 2020 (Dollar amounts in thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 14 $ 343,981 $ (246,088) $ 97,893 Trademarks 2 - 15 42,036 (35,467) 6,569 Software packages 3 - 10 289,205 (191,662) 97,543 Non-compete agreement 15 56,539 (38,635) 17,904 Other intangible assets, net $ 731,761 $ (511,852) $ 219,909 During the first quarter of 2021, the Company acquired a customer relationship in Puerto Rico amounting to $14.8 million that will be amortized over ten years. Revenue and expenses in connection with this customer relationship are included as part of the Merchant Acquiring segment. Amortization expense related to other intangibles for the three and nine months ended September 30, 2021 amounted to $14.5 million and $43.0 million, respectively, compared to $13.7 million and $40.8 million for the corresponding periods in 2020. During the nine months period ended September 30, 2021, the Company recorded an impairment charge through cost of revenues amounting to $0.6 million for a software solution that will no longer be used. The impairment charge affected the Company’s Payment Services – Puerto Rico & Caribbean segment. The estimated amortization expense of the balances outstanding at September 30, 2021 for the next five years is as follows: (Dollar amounts in thousands) Remaining 2021 $ 14,146 2022 51,237 2023 45,918 2024 34,154 2025 11,731

Debt and Short-Term Borrowings

Debt and Short-Term Borrowings	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt and Short-Term Borrowings	Debt and Short-Term Borrowings Total debt at September 30, 2021 and December 31, 2020 follows: (In thousands) September 30, 2021 December 31, 2020 2023 Term A Loan bearing interest at a variable interest rate (LIBOR plus applicable margin (1)(2) ) $ 173,519 $ 188,788 2024 Term B Loan bearing interest at a variable interest rate (LIBOR plus applicable margin (1)(3) ) 294,291 306,503 Notes payable due January 1, 2022 (1) 739 1,443 Total debt $ 468,549 $ 496,734 (1) Net of unaccreted discount and unamortized debt issue costs, as applicable. (2) Applicable margin of 1.75% at September 30, 2021 and December 31, 2020. (3) Subject to a minimum rate ("LIBOR floor") of 0% plus applicable margin of 3.50% at September 30, 2021 and December 31, 2020. Secured Credit Facilities On November 27, 2018, EVERTEC and EVERTEC Group, LLC ("EVERTEC Group") (collectively, the “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 8, 2021 and March 5, 2020, in connection with this mandatory repayment clause, the Company repaid $17.8 million and $17.0 million, respectively, as a result of excess cash flow calculation performed for the years ended December 31, 2020 and 2019, respectively. The unpaid principal balance at September 30, 2021 of the 2023 Term A Loan and the 2024 Term B Loan was $174.4 million and $296.7 million, respectively. The additional borrowing capacity under our Revolving Facility at September 30, 2021 was $119.1 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 September 30, 2021 and December 31, 2020, the outstanding principal balance of the notes payable was $0.8 million and $1.5 million, respectively. These notes are included in accounts payable in the Company's unaudited condensed consolidated balance sheets. Interest Rate Swaps As of September 30, 2021, 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. As of September 30, 2021 and December 31, 2020, the carrying amount of the derivative included on the Company's unaudited condensed consolidated balance sheets was $18.1 million and $25.6 million, respectively. The fair value of this derivative 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 nine months ended September 30, 2021, the Company reclassified losses of $1.8 million and $5.3 million, respectively, from accumulated other comprehensive loss into interest expense compared to $1.7 million and $3.3 million for the corresponding periods in 2020. Based on current LIBOR rates, the Company expects to reclassify losses of $7.0 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	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	Financial Instruments and Fair Value Measurements Recurring Fair Value Measurements Debt Securities Available for Sale The fair value of debt securities is estimated based on observable inputs, therefore classified as a Level 2 asset within the fair value hierarchy. The fair value of debt securities at September 30, 2021 was $3.1 million. Derivatives Instruments The fair value of the Company's interest rate swap is estimated using Level 2 inputs under the fair value hierarchy. This derivative was in a liability position with a balance of $18.1 million and $25.6 million as of September 30, 2021 and December 31, 2020, respectively. The following table presents the carrying value, as applicable, and estimated fair value for financial instruments at September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 (In thousands) Carrying Fair Carrying Fair Financial assets: Costa Rica government obligations $ 3,060 $ 3,060 $ — $ — Financial liabilities: Interest rate swap 18,104 18,104 25,578 25,578 2023 Term A Loan 173,519 172,402 188,788 186,678 2024 Term B Loan 294,291 296,657 306,503 308,339

Equity

Equity	9 Months Ended
	Sep. 30, 2021
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 nine months ended September 30, 2021: (In thousands) Foreign Currency Cash Flow Hedges Unrealized Gains on Debt Securities AFS Total Balance - December 31, 2020, net of tax $ (24,842) $ (23,412) — $ (48,254) Other comprehensive (loss) income before reclassifications (7,823) 1,540 97 (6,186) Effective portion reclassified to net income — 5,274 — 5,274 Balance - September 30, 2021, net of tax $ (32,665) $ (16,598) $ 97 $ (49,166)

Share-based Compensation

Share-based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation Long-term Incentive Plan ("LTIP") In the first quarter of 2019, 2020 and 2021, the Compensation Committee (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 2019 LTIP, 2020 LTIP and 2021 LTIP, respectively, all under the terms of the Company's 2013 Equity Incentive Plan. Under the LTIPs, the Company granted RSUs to eligible participants as time-based awards and/or performance-based awards. The vesting of the RSUs is dependent upon service 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 provides services to the Company through 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 22 of each year for the 2019 LTIP, February 27 of each year for the 2020 LTIP, and March 2 of each year for the 2021 LTIP. For the performance-based awards under the 2019 LTIP, 2020 LTIP, and 2021 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 Adjusted EBITDA measure is based on annual targets and can produce a payout between 0% and 200%. 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 and will vest on February 22, 2022 for the 2019 LTIP, February 27, 2023 for the 2020 LTIP, and March 2, 2024 for the 2021 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 RSUs activity for the nine months ended September 30, 2021: Nonvested RSUs Shares Weighted-average Nonvested at December 31, 2020 1,093,515 $ 27.88 Granted 705,970 31.93 Vested (683,706) 20.95 Forfeited (27,845) 33.37 Nonvested at September 30, 2021 1,087,934 $ 34.71 For the three and nine months ended September 30, 2021, the Company recognized $3.7 million and $10.9 million of share-based compensation expense, compared with $3.7 million and $10.8 million for the corresponding period in 2020.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2021
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 16, Segment Information. In the following tables, revenue for each segment, excluding intersegment revenues, is disaggregated by timing of revenue recognition for the periods indicated. Three months ended September 30, 2021 (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 $ 30 $ 449 $ — $ 446 $ 925 Products and services transferred over time 25,712 23,807 37,606 57,833 144,958 $ 25,742 $ 24,256 $ 37,606 $ 58,279 $ 145,883 Three months ended September 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 $ 43 $ 357 $ — $ 4,824 $ 5,224 Products and services transferred over time 23,652 18,791 30,646 58,194 131,283 $ 23,695 $ 19,148 $ 30,646 $ 63,018 $ 136,507 Nine months ended September 30, 2021 (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 $ 119 $ 1,633 $ — $ 4,048 $ 5,800 Products and services transferred over time 76,642 69,919 106,808 175,390 428,759 $ 76,761 $ 71,552 $ 106,808 $ 179,438 $ 434,559 Nine months ended September 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 $ 80 $ 994 $ — $ 7,886 $ 8,960 Products and services transferred over time 63,838 56,487 80,532 166,569 367,426 $ 63,918 $ 57,481 $ 80,532 $ 174,455 $ 376,386 Contract Balances The following table provides information about contract assets from contracts with customers. (In thousands) September 30, 2021 December 31, 2020 Balance at beginning of period $ 2,796 $ 1,191 Services transferred to customers 4,053 3,934 Transfers to accounts receivable (4,246) (2,329) Balance at end of period $ 2,603 $ 2,796 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 September 30, 2021 amounted to $95.5 million. Contract liability and contract liability - long term at September 30, 2021 amounted to $21.3 million and $31.1 million, respectively, and may arise when consideration is received or due in advance from customers prior to performance. The contract liability is mainly comprised of upfront fees for implementation or set up activities, including fees charged in pre-production periods in connection with hosting services. Contract liabilities may also arise when consideration is received or due in advance from customers prior to performance. During the three and nine months ended September 30, 2021, the Company recognized revenue of $5.3 million and $20.7 million, respectively that was included in the contract liability at December 31, 2020. During the three and nine months ended September 30, 2020, the Company recognized revenue of $3.9 million and $13.1 million, respectively that was included in the contract liability at December 31, 2019. Transaction price allocated to the remaining performance obligations

Current Expected Credit Losses

Current Expected Credit Losses	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Current Expected Credit Losses	Current Expected Credit Losses Allowance for Current Expected Credit Losses Trade receivables from contracts with customers are financial assets analyzed by the Company under the expected credit loss model. 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 of government agencies. The governmental customers possess different risk characteristics than private customers because although all invoices are due 30 days after issuance, governmental customers usually pay within 60 to 90 days after issuance (i.e., approximately 30 to 60 more days than private customers). • 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 low historically 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 following table provides information about the allowance for expected current credit losses on trade receivables. (In thousands) September 30, 2021 December 31, 2020 Balance at beginning of period $ 2,401 $ 3,460 Current period provision for expected credit losses 534 832 Write-offs (177) (1,894) Recoveries of amounts previously written-off 1 3 Balance at end of period $ 2,759 $ 2,401 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 statements of income and comprehensive income. Subsequent recoveries of amounts previously written-off, when applicable are credited against the allowance for expected current credit losses within accounts receivable, net on the unaudited condensed consolidated balance sheets.

Income Tax

Income Tax	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Tax	Income Tax The components of income tax expense for the three and nine months ended September 30, 2021 and 2020, respectively, consisted of the following: Three months ended September 30, Nine months ended September 30, (In thousands) 2021 2020 2021 2020 Current tax provision $ 7,306 $ 7,381 $ 15,593 $ 17,633 Deferred tax benefit (172) (868) (1,119) (2,082) Income tax expense $ 7,134 $ 6,513 $ 14,474 $ 15,551 The Company conducts operations in Puerto Rico, the United States, 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 nine months ended September 30, 2021 and 2020, and its segregation based on location of operations: Three months ended September 30, Nine months ended September 30, (In thousands) 2021 2020 2021 2020 Current tax provision Puerto Rico $ 2,328 $ 3,280 $ 3,363 $ 6,487 United States 57 214 132 508 Foreign countries 4,921 3,887 12,098 10,638 Total current tax provision $ 7,306 $ 7,381 $ 15,593 $ 17,633 Deferred tax (benefit) provision Puerto Rico $ (258) $ (989) $ (778) $ (1,535) United States 116 (68) (71) 1,033 Foreign countries (30) 189 (270) (1,580) Total deferred tax benefit $ (172) $ (868) $ (1,119) $ (2,082) 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 September 30, 2021, the Company has $92.9 million of unremitted earnings from foreign subsidiaries, compared to $80.2 million as of December 31, 2020. 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 September 30, 2021, the gross deferred tax asset amounted to $20.1 million and the gross deferred tax liability amounted to $15.6 million, compared to $22.0 million and $19.0 million, respectively, as of December 31, 2020. As of September 30, 2021, there is a valuation allowance against the gross deferred tax asset of approximately $1.3 million. 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: Nine months ended September 30, (In thousands) 2021 2020 Computed income tax at statutory rates $ 50,411 $ 33,012 Differences in tax rates due to multiple jurisdictions 1,789 831 Effect of income subject to tax-exemption grant (35,121) (21,662) Unrecognized tax (benefit) expense (3,475) 1,173 Excess tax benefits on share-based compensation (1,027) (262) Other, net 1,897 2,459 Income tax expense $ 14,474 $ 15,551

Net Income Per Common Share

Net Income Per Common Share	9 Months Ended
	Sep. 30, 2021
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 September 30, Nine months ended September 30, (In thousands, except per share information) 2021 2020 2021 2020 Net income available to EVERTEC, Inc.’s common shareholders $ 35,314 $ 34,463 $ 120,014 $ 72,158 Weighted average common shares outstanding 71,969,856 71,886,439 72,082,082 71,921,069 Weighted average potential dilutive common shares (1) 906,397 1,115,341 735,625 1,128,748 Weighted average common shares outstanding - assuming dilution 72,876,253 73,001,780 72,817,707 73,049,817 Net income per common share - basic $ 0.49 $ 0.48 $ 1.66 $ 1.00 Net income per common share - diluted $ 0.48 $ 0.47 $ 1.65 $ 0.99 (1) Potential common shares consist of common stock issuable under RSUs awards using the treasury stock method.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesEVERTEC 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.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsThe following table presents the Company’s transactions with related parties for the three and nine months ended September 30, 2021 and 2020: Three months ended September 30, Nine months ended September 30, (In thousands) 2021 2020 2021 2020 Total revenues (1)(2) $ 60,091 $ 57,343 $ 182,344 $ 165,703 Cost of revenues $ 624 $ 700 $ 2,242 $ 3,100 Operating lease cost and other fees $ 1,958 $ 2,053 $ 5,482 $ 6,094 Interest earned from affiliate Interest income $ 184 $ 93 $ 422 $ 290 (1) Popular revenues as a percentage of total revenues were 41%, 42%, 42% and 44%, respectively, for each of the periods presented above. (2) Includes revenues generated from investee accounted for under the equity method of $0.2 million, $0.1 million, $0.3 million and $0.5 million, respectively, for each of the periods presented above. As of September 30, 2021 and December 31, 2020, EVERTEC had the following balances arising from transactions with related parties: (In thousands) September 30, 2021 December 31, 2020 Cash and restricted cash deposits in affiliated bank $ 146,025 $ 126,189 Other due to/from affiliate Accounts receivable $ 30,179 $ 28,419 Prepaid expenses and other assets $ 4,089 $ 4,678 Operating lease right-of-use assets $ 14,359 $ 17,099 Accounts payable $ 7,836 $ 4,607 Contract liabilities $ 35,504 $ 35,807 Operating lease liabilities $ 14,836 $ 17,781

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
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), ATH Movil (person-to-person and person-to-merchant digital transactions) 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 September 30, 2021 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 38,773 $ 26,792 $ 37,606 $ 58,134 $ (15,422) $ 145,883 Operating costs and expenses 21,420 22,209 19,922 37,412 (2,097) 98,866 Depreciation and amortization 3,989 2,809 1,010 4,691 6,246 18,745 Non-operating income (expenses) 203 1,844 281 551 (2,322) 557 EBITDA 21,545 9,236 18,975 25,964 (9,401) 66,319 Compensation and benefits (2) 260 755 255 70 2,153 3,493 Transaction, refinancing and other fees (3) — — — — (42) (42) Adjusted EBITDA $ 21,805 $ 9,991 $ 19,230 $ 26,034 $ (7,290) $ 69,770 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $10.8 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction processing of $2.4 million from Payment Services - Latin America to both Payment Services - Puerto Rico & Caribbean and Business Solutions, and transaction processing and monitoring fees of $2.2 million from Payment Services - Puerto Rico & Caribbean to Payment Services - Latin America. (2) Primarily represents share-based compensation. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the 2018 Credit Agreement, the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A, net of dividends received. Three months ended September 30, 2020 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 33,284 $ 21,241 $ 30,646 $ 63,018 $ (11,682) $ 136,507 Operating costs and expenses 19,045 18,284 15,643 35,276 4,415 92,663 Depreciation and amortization 3,349 2,936 477 4,372 6,993 18,127 Non-operating income (expenses) 127 2,959 161 411 (970) 2,688 EBITDA 17,715 8,852 15,641 32,525 (10,074) 64,659 Compensation and benefits (2) 258 686 244 466 2,015 3,669 Transaction, refinancing and other fees (3) 500 — — — 1,205 1,705 Adjusted EBITDA $ 18,473 $ 9,538 $ 15,885 $ 32,991 $ (6,854) $ 70,033 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $9.1 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software developments and transaction processing of $2.6 million from Payment Services - Latin America to Payment Services - Puerto Rico & Caribbean. (2) Primarily represents share-based compensation. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the 2018 Credit Agreement, a software impairment charge and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A. Nine months ended September 30, 2021 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 113,626 $ 77,641 $ 106,808 $ 179,438 $ (42,954) $ 434,559 Operating costs and expenses 61,270 63,020 55,762 110,276 (2,077) 288,251 Depreciation and amortization 11,813 8,695 2,631 14,085 18,867 56,091 Non-operating income (expenses) 618 5,348 835 2,494 (5,269) 4,026 EBITDA 64,787 28,664 54,512 85,741 (27,279) 206,425 Compensation and benefits (2) 781 2,321 781 1,193 6,204 11,280 Transaction, refinancing and other fees (3) 660 — — (647) 1,202 1,215 Adjusted EBITDA $ 66,228 $ 30,985 $ 55,293 $ 86,287 $ (19,873) $ 218,920 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $31.2 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software developments and transaction processing of $6.6 million from Payment Services - Latin America to both Payment Services - Puerto Rico & Caribbean and Business Solutions, and transaction processing and monitoring fees of $5.1 million from Payment Services - Puerto Rico & Caribbean to Payment Services - Latin America. (2) Primarily represents share-based compensation and severance payments. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the 2018 Credit Agreement, the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A., net of dividends received, a software impairment charge and a gain from sale of assets. Nine months ended September 30, 2020 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 90,632 $ 62,678 $ 80,531 $ 174,455 $ (31,910) $ 376,386 Operating costs and expenses 53,904 53,882 42,579 105,901 17,923 274,189 Depreciation and amortization 9,791 8,508 1,431 13,049 20,982 53,761 Non-operating income (expenses) 62 4,297 473 1,482 (2,815) 3,499 EBITDA 46,581 21,601 39,856 83,085 (31,666) 159,457 Compensation and benefits (2) 742 2,263 695 1,374 5,846 10,920 Transaction, refinancing and other fees (3) 500 — — — 5,647 6,147 Adjusted EBITDA $ 47,823 $ 23,864 $ 40,551 $ 84,459 $ (20,173) $ 176,524 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $25.4 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software developments and transaction processing of $6.5 million from Payment Services - Latin America to Payment Services - Puerto Rico & Caribbean. (2) Primarily represents share-based compensation and severance payments. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the 2018 Credit Agreement, a software impairment charge and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A. The reconciliation of EBITDA to consolidated net income is as follows: Three months ended September 30, Nine months ended September 30, (In thousands) 2021 2020 2021 2020 Total EBITDA $ 66,319 $ 64,659 $ 206,425 $ 159,457 Less: Income tax expense 7,134 6,513 14,474 15,551 Interest expense, net 5,180 5,438 15,905 17,664 Depreciation and amortization 18,745 18,127 56,091 53,761 Net income $ 35,260 $ 34,581 $ 119,955 $ 72,481

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn October 21, 2021, 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 December 3, 2021 to stockholders of record as of the close of business on November 1, 2021. The Board anticipates declaring this dividend in future quarters on a regular basis; however future declarations of dividends are subject to the Board’s approval and may be adjusted as business needs or market conditions change.

The Company and Basis of Pres_2

The Company and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
The Company	The CompanyEVERTEC, Inc. and its subsidiaries (collectively the “Company,” or “EVERTEC”) is a leading full-service transaction-processing business in Puerto Rico, the Caribbean and Latin America. The Company is based in Puerto Rico and provides a broad range of merchant acquiring, payment services 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 personal identification number ("PIN") debit networks in Latin America. EVERTEC manages a system of electronic payment networks and offers a comprehensive suite of services for core bank, cash processing and fulfillment in Puerto Rico. In addition, EVERTEC offers 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.
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, 2020, included in the Company’s 2020 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Issued Prior to 2021 and Not Yet Adopted 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 adoption of this guidance will not have an impact on the Company's unaudited condensed consolidated financial statements.
Debt Securities	Debt securities available-for-sale are accounted for under the provisions of ASC 320 Investments – Debt and Equity Securities, which requires that debt securities available-for-sale ("AFS") be carried at fair value on the Company’s unaudited condensed consolidated balance sheets with unrealized gains (losses) recorded through other comprehensive income (“OCI”). Debt securities in an unrealized loss position which the Company intends to sell or for which it is more likely than not that the Company will be required to sell before recovery of the amortized cost basis, are written down to fair value through income. Quarterly, for debt securities in an unrealized loss position that the Company does not intend or will, more likely than not, not be required to sell, the Company evaluates if the decline in fair value has resulted from credit losses or other factors. If it is determined that the decline in fair value is related to credit losses, the Company records an allowance for credit losses, limited to the amount by which the fair value is less than the amortized cost basis. If the Company determines that the decline in value is related to factors other than credit, the Company recognizes the impairment through OCI. Debt securities were purchased close to the final trading day of the quarter ended March 31, 2021 and are held by a trust in the Costa Rica National Bank as a collateral requirement for settlement activities. The Company may substitute securities as needed but must maintain certain levels of collateral based on transaction volumes.

Debt Securities (Tables)

Debt Securities (Tables)	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Debt securities available-for-sale by contractual maturity	The amortized cost, gross unrealized gains and losses recorded in OCI, and estimated fair value as of September 30, 2021 were as follows: September 30, 2021 (In thousands) Gross unrealized Amortized cost Gains Losses Fair Value Costa Rica Government Obligations After 1 to 5 years $ 2,963 97 — $ 3,060

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Summary of property and equipment, net	Property and equipment, net consists of the following: (In thousands) Useful life September 30, 2021 December 31, 2020 Buildings 30 $ 1,394 $ 1,437 Data processing equipment 3 - 5 132,832 124,897 Furniture and equipment 3 - 20 7,372 6,691 Leasehold improvements 5 -10 3,126 3,098 144,724 136,123 Less - accumulated depreciation and amortization (103,160) (93,826) Depreciable assets, net 41,564 42,297 Land 1,216 1,241 Property and equipment, net $ 42,780 $ 43,538

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
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 16): (In thousands) Payment Payment Merchant Business Total Balance at December 31, 2020 $ 160,972 $ 52,754 $ 138,121 $ 45,823 $ 397,670 Foreign currency translation adjustments — (3,134) — — (3,134) Balance at September 30, 2021 $ 160,972 $ 49,620 $ 138,121 $ 45,823 $ 394,536
Summary of carrying amount of other intangible assets	The carrying amount of other intangible assets at September 30, 2021 and December 31, 2020 was as follows: September 30, 2021 (In thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 14 $ 358,191 $ (266,047) $ 92,144 Trademarks 2 - 15 41,926 (36,385) 5,541 Software packages 3 - 10 317,799 (210,946) 106,853 Non-compete agreement 15 56,539 (41,462) 15,077 Other intangible assets, net $ 774,455 $ (554,840) $ 219,615 December 31, 2020 (Dollar amounts in thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 14 $ 343,981 $ (246,088) $ 97,893 Trademarks 2 - 15 42,036 (35,467) 6,569 Software packages 3 - 10 289,205 (191,662) 97,543 Non-compete agreement 15 56,539 (38,635) 17,904 Other intangible assets, net $ 731,761 $ (511,852) $ 219,909
Summary of estimated amortization expenses	The estimated amortization expense of the balances outstanding at September 30, 2021 for the next five years is as follows: (Dollar amounts in thousands) Remaining 2021 $ 14,146 2022 51,237 2023 45,918 2024 34,154 2025 11,731

Debt and Short-Term Borrowings

Debt and Short-Term Borrowings (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Summary of total debt	Total debt at September 30, 2021 and December 31, 2020 follows: (In thousands) September 30, 2021 December 31, 2020 2023 Term A Loan bearing interest at a variable interest rate (LIBOR plus applicable margin (1)(2) ) $ 173,519 $ 188,788 2024 Term B Loan bearing interest at a variable interest rate (LIBOR plus applicable margin (1)(3) ) 294,291 306,503 Notes payable due January 1, 2022 (1) 739 1,443 Total debt $ 468,549 $ 496,734 (1) Net of unaccreted discount and unamortized debt issue costs, as applicable. (2) Applicable margin of 1.75% at September 30, 2021 and December 31, 2020.
Summary of interest rate swap transaction	As of September 30, 2021, 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)	9 Months Ended
	Sep. 30, 2021
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 value for financial instruments at September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 (In thousands) Carrying Fair Carrying Fair Financial assets: Costa Rica government obligations $ 3,060 $ 3,060 $ — $ — Financial liabilities: Interest rate swap 18,104 18,104 25,578 25,578 2023 Term A Loan 173,519 172,402 188,788 186,678 2024 Term B Loan 294,291 296,657 306,503 308,339

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2021
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 nine months ended September 30, 2021: (In thousands) Foreign Currency Cash Flow Hedges Unrealized Gains on Debt Securities AFS Total Balance - December 31, 2020, net of tax $ (24,842) $ (23,412) — $ (48,254) Other comprehensive (loss) income before reclassifications (7,823) 1,540 97 (6,186) Effective portion reclassified to net income — 5,274 — 5,274 Balance - September 30, 2021, net of tax $ (32,665) $ (16,598) $ 97 $ (49,166)

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of nonvested restricted shares and RSUs activity	The following table summarizes nonvested RSUs activity for the nine months ended September 30, 2021: Nonvested RSUs Shares Weighted-average Nonvested at December 31, 2020 1,093,515 $ 27.88 Granted 705,970 31.93 Vested (683,706) 20.95 Forfeited (27,845) 33.37 Nonvested at September 30, 2021 1,087,934 $ 34.71

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Summary of disaggregation of revenue	In the following tables, revenue for each segment, excluding intersegment revenues, is disaggregated by timing of revenue recognition for the periods indicated. Three months ended September 30, 2021 (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 $ 30 $ 449 $ — $ 446 $ 925 Products and services transferred over time 25,712 23,807 37,606 57,833 144,958 $ 25,742 $ 24,256 $ 37,606 $ 58,279 $ 145,883 Three months ended September 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 $ 43 $ 357 $ — $ 4,824 $ 5,224 Products and services transferred over time 23,652 18,791 30,646 58,194 131,283 $ 23,695 $ 19,148 $ 30,646 $ 63,018 $ 136,507 Nine months ended September 30, 2021 (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 $ 119 $ 1,633 $ — $ 4,048 $ 5,800 Products and services transferred over time 76,642 69,919 106,808 175,390 428,759 $ 76,761 $ 71,552 $ 106,808 $ 179,438 $ 434,559 Nine months ended September 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 $ 80 $ 994 $ — $ 7,886 $ 8,960 Products and services transferred over time 63,838 56,487 80,532 166,569 367,426 $ 63,918 $ 57,481 $ 80,532 $ 174,455 $ 376,386
Summary of contract balances	The following table provides information about contract assets from contracts with customers. (In thousands) September 30, 2021 December 31, 2020 Balance at beginning of period $ 2,796 $ 1,191 Services transferred to customers 4,053 3,934 Transfers to accounts receivable (4,246) (2,329) Balance at end of period $ 2,603 $ 2,796

Current Expected Credit Losses

Current Expected Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Schedule of allowance for credit losses on trade receivables	The following table provides information about the allowance for expected current credit losses on trade receivables. (In thousands) September 30, 2021 December 31, 2020 Balance at beginning of period $ 2,401 $ 3,460 Current period provision for expected credit losses 534 832 Write-offs (177) (1,894) Recoveries of amounts previously written-off 1 3 Balance at end of period $ 2,759 $ 2,401

Income Tax (Tables)

Income Tax (Tables)	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Components of income tax expense (benefit)	The components of income tax expense for the three and nine months ended September 30, 2021 and 2020, respectively, consisted of the following: Three months ended September 30, Nine months ended September 30, (In thousands) 2021 2020 2021 2020 Current tax provision $ 7,306 $ 7,381 $ 15,593 $ 17,633 Deferred tax benefit (172) (868) (1,119) (2,082) Income tax expense $ 7,134 $ 6,513 $ 14,474 $ 15,551
Segregation of income tax expense based on location of operations	The following table presents the components of income tax expense for the three and nine months ended September 30, 2021 and 2020, and its segregation based on location of operations: Three months ended September 30, Nine months ended September 30, (In thousands) 2021 2020 2021 2020 Current tax provision Puerto Rico $ 2,328 $ 3,280 $ 3,363 $ 6,487 United States 57 214 132 508 Foreign countries 4,921 3,887 12,098 10,638 Total current tax provision $ 7,306 $ 7,381 $ 15,593 $ 17,633 Deferred tax (benefit) provision Puerto Rico $ (258) $ (989) $ (778) $ (1,535) United States 116 (68) (71) 1,033 Foreign countries (30) 189 (270) (1,580) Total deferred tax benefit $ (172) $ (868) $ (1,119) $ (2,082)
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: Nine months ended September 30, (In thousands) 2021 2020 Computed income tax at statutory rates $ 50,411 $ 33,012 Differences in tax rates due to multiple jurisdictions 1,789 831 Effect of income subject to tax-exemption grant (35,121) (21,662) Unrecognized tax (benefit) expense (3,475) 1,173 Excess tax benefits on share-based compensation (1,027) (262) Other, net 1,897 2,459 Income tax expense $ 14,474 $ 15,551

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2021
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 September 30, Nine months ended September 30, (In thousands, except per share information) 2021 2020 2021 2020 Net income available to EVERTEC, Inc.’s common shareholders $ 35,314 $ 34,463 $ 120,014 $ 72,158 Weighted average common shares outstanding 71,969,856 71,886,439 72,082,082 71,921,069 Weighted average potential dilutive common shares (1) 906,397 1,115,341 735,625 1,128,748 Weighted average common shares outstanding - assuming dilution 72,876,253 73,001,780 72,817,707 73,049,817 Net income per common share - basic $ 0.49 $ 0.48 $ 1.66 $ 1.00 Net income per common share - diluted $ 0.48 $ 0.47 $ 1.65 $ 0.99 (1) Potential common shares consist of common stock issuable under RSUs awards using the treasury stock method.

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Summary of transactions with related parties	The following table presents the Company’s transactions with related parties for the three and nine months ended September 30, 2021 and 2020: Three months ended September 30, Nine months ended September 30, (In thousands) 2021 2020 2021 2020 Total revenues (1)(2) $ 60,091 $ 57,343 $ 182,344 $ 165,703 Cost of revenues $ 624 $ 700 $ 2,242 $ 3,100 Operating lease cost and other fees $ 1,958 $ 2,053 $ 5,482 $ 6,094 Interest earned from affiliate Interest income $ 184 $ 93 $ 422 $ 290 (1) Popular revenues as a percentage of total revenues were 41%, 42%, 42% and 44%, respectively, for each of the periods presented above. (2) Includes revenues generated from investee accounted for under the equity method of $0.2 million, $0.1 million, $0.3 million and $0.5 million, respectively, for each of the periods presented above.
Summary of balances of transactions with related parties	As of September 30, 2021 and December 31, 2020, EVERTEC had the following balances arising from transactions with related parties: (In thousands) September 30, 2021 December 31, 2020 Cash and restricted cash deposits in affiliated bank $ 146,025 $ 126,189 Other due to/from affiliate Accounts receivable $ 30,179 $ 28,419 Prepaid expenses and other assets $ 4,089 $ 4,678 Operating lease right-of-use assets $ 14,359 $ 17,099 Accounts payable $ 7,836 $ 4,607 Contract liabilities $ 35,504 $ 35,807 Operating lease liabilities $ 14,836 $ 17,781

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
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 September 30, 2021 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 38,773 $ 26,792 $ 37,606 $ 58,134 $ (15,422) $ 145,883 Operating costs and expenses 21,420 22,209 19,922 37,412 (2,097) 98,866 Depreciation and amortization 3,989 2,809 1,010 4,691 6,246 18,745 Non-operating income (expenses) 203 1,844 281 551 (2,322) 557 EBITDA 21,545 9,236 18,975 25,964 (9,401) 66,319 Compensation and benefits (2) 260 755 255 70 2,153 3,493 Transaction, refinancing and other fees (3) — — — — (42) (42) Adjusted EBITDA $ 21,805 $ 9,991 $ 19,230 $ 26,034 $ (7,290) $ 69,770 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $10.8 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction processing of $2.4 million from Payment Services - Latin America to both Payment Services - Puerto Rico & Caribbean and Business Solutions, and transaction processing and monitoring fees of $2.2 million from Payment Services - Puerto Rico & Caribbean to Payment Services - Latin America. (2) Primarily represents share-based compensation. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the 2018 Credit Agreement, the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A, net of dividends received. Three months ended September 30, 2020 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 33,284 $ 21,241 $ 30,646 $ 63,018 $ (11,682) $ 136,507 Operating costs and expenses 19,045 18,284 15,643 35,276 4,415 92,663 Depreciation and amortization 3,349 2,936 477 4,372 6,993 18,127 Non-operating income (expenses) 127 2,959 161 411 (970) 2,688 EBITDA 17,715 8,852 15,641 32,525 (10,074) 64,659 Compensation and benefits (2) 258 686 244 466 2,015 3,669 Transaction, refinancing and other fees (3) 500 — — — 1,205 1,705 Adjusted EBITDA $ 18,473 $ 9,538 $ 15,885 $ 32,991 $ (6,854) $ 70,033 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $9.1 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software developments and transaction processing of $2.6 million from Payment Services - Latin America to Payment Services - Puerto Rico & Caribbean. (2) Primarily represents share-based compensation. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the 2018 Credit Agreement, a software impairment charge and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A. Nine months ended September 30, 2021 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 113,626 $ 77,641 $ 106,808 $ 179,438 $ (42,954) $ 434,559 Operating costs and expenses 61,270 63,020 55,762 110,276 (2,077) 288,251 Depreciation and amortization 11,813 8,695 2,631 14,085 18,867 56,091 Non-operating income (expenses) 618 5,348 835 2,494 (5,269) 4,026 EBITDA 64,787 28,664 54,512 85,741 (27,279) 206,425 Compensation and benefits (2) 781 2,321 781 1,193 6,204 11,280 Transaction, refinancing and other fees (3) 660 — — (647) 1,202 1,215 Adjusted EBITDA $ 66,228 $ 30,985 $ 55,293 $ 86,287 $ (19,873) $ 218,920 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $31.2 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software developments and transaction processing of $6.6 million from Payment Services - Latin America to both Payment Services - Puerto Rico & Caribbean and Business Solutions, and transaction processing and monitoring fees of $5.1 million from Payment Services - Puerto Rico & Caribbean to Payment Services - Latin America. (2) Primarily represents share-based compensation and severance payments. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the 2018 Credit Agreement, the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A., net of dividends received, a software impairment charge and a gain from sale of assets. Nine months ended September 30, 2020 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 90,632 $ 62,678 $ 80,531 $ 174,455 $ (31,910) $ 376,386 Operating costs and expenses 53,904 53,882 42,579 105,901 17,923 274,189 Depreciation and amortization 9,791 8,508 1,431 13,049 20,982 53,761 Non-operating income (expenses) 62 4,297 473 1,482 (2,815) 3,499 EBITDA 46,581 21,601 39,856 83,085 (31,666) 159,457 Compensation and benefits (2) 742 2,263 695 1,374 5,846 10,920 Transaction, refinancing and other fees (3) 500 — — — 5,647 6,147 Adjusted EBITDA $ 47,823 $ 23,864 $ 40,551 $ 84,459 $ (20,173) $ 176,524 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $25.4 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software developments and transaction processing of $6.5 million from Payment Services - Latin America to Payment Services - Puerto Rico & Caribbean. (2) Primarily represents share-based compensation and severance payments. (3) Primarily represents fees and expenses associated with corporate transactions as defined in the 2018 Credit Agreement, a software impairment charge and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A.
Reconciliation of income from operations to consolidated net income	The reconciliation of EBITDA to consolidated net income is as follows: Three months ended September 30, Nine months ended September 30, (In thousands) 2021 2020 2021 2020 Total EBITDA $ 66,319 $ 64,659 $ 206,425 $ 159,457 Less: Income tax expense 7,134 6,513 14,474 15,551 Interest expense, net 5,180 5,438 15,905 17,664 Depreciation and amortization 18,745 18,127 56,091 53,761 Net income $ 35,260 $ 34,581 $ 119,955 $ 72,481

The Company and Basis of Pres_3

The Company and Basis of Presentation (Detail)	Sep. 30, 2021country
Accounting Policies [Abstract]
Number of countries where services are provided	26

Debt Securities (Detail)

Debt Securities (Detail) $ in Thousands	Sep. 30, 2021USD ($)
Available-for-sale Securities, Debt Maturities [Abstract]
Amortized cost, after 1 to 5 years	$ 2,963
Gross unrealized gains, after 1 to 5 years	97
Gross unrealized losses, after 1 to 5 years	0
Fair Value, after 1 to 5 years	$ 3,060

Property and Equipment, net (De

Property and Equipment, net (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Property and Equipment, net
Property and equipment, gross	$ 144,724		$ 144,724		$ 136,123
Less - accumulated depreciation and amortization	(103,160)		(103,160)		(93,826)
Depreciable assets, net	41,564		41,564		42,297
Land	1,216		1,216		1,241
Property and equipment, net	42,780		42,780		43,538
Depreciation and amortization expense related to property and equipment	4,200	$ 4,400	13,000	$ 12,900
Loss on disposition of damaged POS devices			$ 500
Buildings
Property and Equipment, net
Useful life in years			30 years
Property and equipment, gross	1,394		$ 1,394		1,437
Data processing equipment
Property and Equipment, net
Property and equipment, gross	132,832		$ 132,832		124,897
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	7,372		$ 7,372		6,691
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	$ 3,126		$ 3,126		$ 3,098
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	9 Months Ended
	Sep. 30, 2021USD ($)
Changes in the Carrying Amount of Goodwill
Beginning balance	$ 397,670
Foreign currency translation adjustments	(3,134)
Ending balance	394,536
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	52,754
Foreign currency translation adjustments	(3,134)
Ending balance	49,620
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			9 Months Ended
	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Impairment of goodwill				$ 0	$ 0
Other intangible assets, net	$ 219,615,000			219,615,000		$ 219,909,000
Amortization expense for intangible assets	14,500,000		$ 13,700,000	43,000,000	$ 40,800,000
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Other intangible assets, net	92,144,000			92,144,000		97,893,000
Customer relationships | Puerto Rico
Acquired Finite-Lived Intangible Assets [Line Items]
Other intangible assets, net		$ 14,800,000
Useful life (years)		10 years
Software packages
Acquired Finite-Lived Intangible Assets [Line Items]
Other intangible assets, net	$ 106,853,000			106,853,000		$ 97,543,000
Impairment charge				$ 600,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Other Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 774,455	$ 731,761
Accumulated amortization	(554,840)	(511,852)
Net carrying amount	219,615	219,909
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross amount	358,191	343,981
Accumulated amortization	(266,047)	(246,088)
Net carrying amount	$ 92,144	$ 97,893
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	$ 41,926	$ 42,036
Accumulated amortization	(36,385)	(35,467)
Net carrying amount	$ 5,541	$ 6,569
Trademarks | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life in years	2 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	$ 317,799	$ 289,205
Accumulated amortization	(210,946)	(191,662)
Net carrying amount	$ 106,853	$ 97,543
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	(41,462)	(38,635)
Net carrying amount	$ 15,077	$ 17,904

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Estimated Amortization Expenses (Detail) $ in Thousands	Sep. 30, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining 2021	$ 14,146
2022	51,237
2023	45,918
2024	34,154
2025	$ 11,731

Debt and Short-Term Borrowing_2

Debt and Short-Term Borrowings - Total Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total debt	$ 468,549	$ 496,734
Notes Payable due on January 1, 2022 | Notes Payable
Debt Instrument [Line Items]
Note payable due January 1, 2022	739	1,443
Term A due on November 27,2023 | Credit Facility
Debt Instrument [Line Items]
Credit facility	$ 173,519	$ 188,788
Fixed rate	1.75%	1.75%
Term B due on November 27, 2024 | Credit Facility
Debt Instrument [Line Items]
Credit facility	$ 294,291	$ 306,503
Term B due on November 27, 2024 | Credit Facility | LIBOR
Debt Instrument [Line Items]
Minimum variable rate	0.00%	3.50%

Debt and Short-Term Borrowing_3

Debt and Short-Term Borrowings - Additional Information (Detail)	Mar. 08, 2021USD ($)	Mar. 05, 2020USD ($)	Nov. 27, 2018USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)agreement
Debt Instrument [Line Items]
Losses reclassified from accumulated other comprehensive loss into income				$ 1,800,000	$ 1,700,000	$ 5,300,000	$ 3,300,000
Losses expected to be reclassified from accumulated other comprehensive loss into income in the next 12 months				7,000,000		7,000,000
Credit Agreement 2018
Debt Instrument [Line Items]
Mandatory prepayment trigger, maximum value of excess cash flow			$ 10,000,000
Credit facility, payment	$ 17,800,000	$ 17,000,000
Notes Payable | December 2019 Financing Agreement
Debt Instrument [Line Items]
Number of financing agreements | agreement									2
Non interest bearing financing agreement									$ 2,400,000
Notes payable				800,000		800,000		$ 1,500,000
Term A due on November 27,2023 | Credit Facility
Debt Instrument [Line Items]
Secured credit facilities				174,400,000		174,400,000
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				296,700,000		296,700,000
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				119,100,000		119,100,000
Senior Secured Revolving Credit Facility | Credit Facility | Credit Agreement 2018
Debt Instrument [Line Items]
Maximum amount under credit facilities			$ 125,000,000
Carrying Amount
Debt Instrument [Line Items]
Interest rate swap				18,104,000		18,104,000		25,578,000
Fair Value, Level 2 | Carrying Amount
Debt Instrument [Line Items]
Interest rate swap				$ 18,100,000		$ 18,100,000		$ 25,600,000

Debt and Short-Term Borrowing_4

Debt and Short-Term Borrowings - Summary of Interest Rate Swap Transaction (Detail) - 2018 Interest Rate Swap Agreement	9 Months Ended
	Sep. 30, 2021USD ($)
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	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	$ 3,060	$ 0
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap	18,104	25,578
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap	18,104	25,578
Costa Rica government obligations | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	3,060	0
Costa Rica government obligations | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, available-for-sale	3,060	0
Fair Value, Level 2 | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap	$ 18,100	$ 25,600

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Carrying Value and Estimated Fair Values (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Financial assets:
Costa Rica government obligations	$ 3,060	$ 0
Carrying Amount
Financial liabilities:
Interest rate swap	18,104	25,578
Carrying Amount | Credit Facility | 2023 Term A Loan
Financial liabilities:
Senior secured term loan	173,519	188,788
Carrying Amount | Credit Facility | 2024 Term B Loan
Financial liabilities:
Senior secured term loan	294,291	306,503
Fair Value
Financial liabilities:
Interest rate swap	18,104	25,578
Fair Value | Credit Facility | 2023 Term A Loan
Financial liabilities:
Senior secured term loan	172,402	186,678
Fair Value | Credit Facility | 2024 Term B Loan
Financial liabilities:
Senior secured term loan	296,657	308,339
Costa Rica government obligations | Carrying Amount
Financial assets:
Costa Rica government obligations	3,060	0
Costa Rica government obligations | Fair Value
Financial assets:
Costa Rica government obligations	$ 3,060	$ 0

Equity - Summary of Changes in

Equity - Summary of Changes in Accumulated Other Comprehensive Loss (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	$ 342,429
Other comprehensive (loss) income before reclassifications	(6,186)
Effective portion reclassified to net income	5,274
Ending balance	427,930
Foreign Currency Translation Adjustments
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	(24,842)
Other comprehensive (loss) income before reclassifications	(7,823)
Effective portion reclassified to net income	0
Ending balance	(32,665)
Cash Flow Hedges
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	(23,412)
Other comprehensive (loss) income before reclassifications	1,540
Effective portion reclassified to net income	5,274
Ending balance	(16,598)
Unrealized Gains on Debt Securities AFS
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	0
Other comprehensive (loss) income before reclassifications	97
Effective portion reclassified to net income	0
Ending balance	97
Total
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	(48,254)
Ending balance	$ (49,166)

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expenses	$ 3.7	$ 3.7	$ 10.9	$ 10.8
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum unrecognized cost for RSUs	$ 23.1		$ 23.1
Unrecognized compensation cost, weighted average period of recognition (in years)			1 year 10 months 24 days
Time Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			3 years
Awards with Performance Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)			3 years
Performance adjustment percent			25.00%
Performance measurement period (in years)			1 year
Requisite service period (in years)			2 years
Awards with Performance Conditions | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance payout percent			0.00%
Awards with Performance Conditions | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance payout percent			200.00%

Share-based Compensation - Nonv

Share-based Compensation - Nonvested RSUs Activity (Detail) - Restricted Stock Units	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Shares
Beginning balance (in shares) | shares	1,093,515
Granted (in shares) | shares	705,970
Vested (in shares) | shares	(683,706)
Forfeited (in shares) | shares	(27,845)
Ending balance (in shares) | shares	1,087,934
Weighted-average grant date fair value
Beginning balance (in usd per share) | $ / shares	$ 27.88
Granted (in usd per share) | $ / shares	31.93
Vested (in usd per share) | $ / shares	20.95
Forfeited (in usd per share) | $ / shares	33.37
Ending balance (in usd per share) | $ / shares	$ 34.71

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 145,883	$ 136,507	$ 434,559	$ 376,386
Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	925	5,224	5,800	8,960
Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	144,958	131,283	428,759	367,426
Payment Services - Puerto Rico & Caribbean
Disaggregation of Revenue [Line Items]
Revenues	25,742	23,695	76,761	63,918
Payment Services - Puerto Rico & Caribbean | Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	30	43	119	80
Payment Services - Puerto Rico & Caribbean | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	25,712	23,652	76,642	63,838
Payment Services - Latin America
Disaggregation of Revenue [Line Items]
Revenues	24,256	19,148	71,552	57,481
Payment Services - Latin America | Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	449	357	1,633	994
Payment Services - Latin America | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	23,807	18,791	69,919	56,487
Merchant Acquiring, net
Disaggregation of Revenue [Line Items]
Revenues	37,606	30,646	106,808	80,532
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	37,606	30,646	106,808	80,532
Business Solutions
Disaggregation of Revenue [Line Items]
Revenues	58,279	63,018	179,438	174,455
Business Solutions | Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	446	4,824	4,048	7,886
Business Solutions | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	$ 57,833	$ 58,194	$ 175,390	$ 166,569

Revenues - Contract Balances (D

Revenues - Contract Balances (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Revenue, Contract Balances [Roll Forward]
Beginning balance	$ 2,796	$ 1,191
Services transferred to customers	4,053	3,934
Transfers to accounts receivable	(4,246)	(2,329)
Ending balance	$ 2,603	$ 2,796

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 95,548		$ 95,548		$ 95,727
Contract liability	21,304		21,304		24,958
Contract liability - long term	31,109		31,109		$ 31,336
Revenue recognized that was included in unearned income	5,300	$ 3,900	20,700	$ 13,100
Transaction price allocated to performance obligations that are unsatisfied or partially satisfied	$ 310,400		$ 310,400
Professional Services, All Other Contracts | Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period of expected timing of satisfaction (in years)	2 years		2 years
Professional Services, All Other Contracts | Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period of expected timing of satisfaction (in years)	5 years		5 years

Current Expected Credit Losse_2

Current Expected Credit Losses (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 2,401	$ 3,460
Current period provision for expected credit losses	534	832
Write-offs	(177)	(1,894)
Recoveries of amounts previously written-off	1	3
Balance at end of period	$ 2,759	$ 2,401

Income Tax - Components of Inco

Income Tax - Components of Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Current tax provision	$ 7,306	$ 7,381	$ 15,593	$ 17,633
Deferred tax benefit	(172)	(868)	(1,119)	(2,082)
Income tax expense	$ 7,134	$ 6,513	$ 14,474	$ 15,551

Income Tax - Tax Expense Based

Income Tax - Tax Expense Based on Location (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Current tax provision
Puerto Rico	$ 2,328	$ 3,280	$ 3,363	$ 6,487
United States	57	214	132	508
Foreign countries	4,921	3,887	12,098	10,638
Total current tax provision	7,306	7,381	15,593	17,633
Deferred tax (benefit) provision
Puerto Rico	(258)	(989)	(778)	(1,535)
United States	116	(68)	(71)	1,033
Foreign countries	(30)	189	(270)	(1,580)
Total deferred tax benefit	$ (172)	$ (868)	$ (1,119)	$ (2,082)

Income Tax - Additional Informa

Income Tax - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Unremitted earnings from foreign subsidiaries	$ 92.9	$ 80.2
Gross deferred tax asset	20.1	22
Gross deferred tax liability	15.6	$ 19
Valuation allowance	$ 1.3

Income Tax - Income Tax Expense

Income Tax - Income Tax Expense Differs from Computed Income Tax at Statutory Rates (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Computed income tax at statutory rates			$ 50,411	$ 33,012
Differences in tax rates due to multiple jurisdictions			1,789	831
Effect of income subject to tax-exemption grant			(35,121)	(21,662)
Unrecognized tax (benefit) expense			(3,475)	1,173
Excess tax benefits on share-based compensation			(1,027)	(262)
Other, net			1,897	2,459
Income tax expense	$ 7,134	$ 6,513	$ 14,474	$ 15,551

Net Income Per Common Share - R

Net Income Per Common Share - Reconciliation of Income Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	Jul. 22, 2021	Apr. 22, 2021	Feb. 18, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Net income available to EVERTEC, Inc.’s common shareholders				$ 35,314			$ 34,463			$ 120,014	$ 72,158
Net income available to EVERTEC, Inc.’s common shareholders				$ 35,314			$ 34,463			$ 120,014	$ 72,158
Weighted average common shares outstanding (in shares)				71,969,856			71,886,439			72,082,082	71,921,069
Weighted average potential dilutive common shares (in shares)				906,397			1,115,341			735,625	1,128,748
Weighted average common shares outstanding - assuming dilution (in shares)				72,876,253			73,001,780			72,817,707	73,049,817
Net income per common share - basic (in usd per share)				$ 0.49			$ 0.48			$ 1.66	$ 1
Net income per common share - diluted (in usd per share)				0.48			0.47			$ 1.65	$ 0.99
Cash dividends declared (in usd per share)	$ 0.05	$ 0.05	$ 0.05	$ 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Transactions with Third Party
Total revenues	$ 60,091	$ 57,343	$ 182,344	$ 165,703
Cost of revenues	624	700	2,242	3,100
Operating lease cost and other fees	1,958	2,053	5,482	6,094
Interest earned from affiliate
Interest income	184	93	422	290
Earnings (losses) of equity method investment	411	202	1,307	733
Popular
Interest earned from affiliate
Earnings (losses) of equity method investment	$ 200	$ 100	$ 300	$ 500
Popular | Customer Concentration Risk | Total Revenue
Interest earned from affiliate
Total percentage of revenues from Popular	41.00%	42.00%	42.00%	44.00%

Related Party Transactions - Ba

Related Party Transactions - Balances of Transactions (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Related Party Transactions [Abstract]
Cash and restricted cash deposits in affiliated bank	$ 146,025	$ 126,189
Other due to/from affiliate
Accounts receivable	30,179	28,419
Prepaid expenses and other assets	4,089	4,678
Operating lease right-of-use assets	14,359	17,099
Accounts payable	7,836	4,607
Contract liabilities	35,504	35,807
Operating lease liabilities	$ 14,836	$ 17,781

Segment Information - Operation

Segment Information - Operations by Segments (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)
Segment Reporting Information [Line Items]
Number of operating business segments (in segment) | segment			4
Revenues	$ 145,883	$ 136,507	$ 434,559	$ 376,386
Operating costs and expenses	98,866	92,663	288,251	274,189
Depreciation and amortization	18,745	18,127	56,091	53,761
Non-operating income (expenses)	557	2,688	4,026	3,499
EBITDA	66,319	64,659	206,425	159,457
Compensation and benefits	3,493	3,669	11,280	10,920
Transaction, refinancing and other fees	(42)	1,705	1,215	6,147
Adjusted EBITDA	$ 69,770	$ 70,033	$ 218,920	$ 176,524
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	$ 25,742	$ 23,695	$ 76,761	$ 63,918
Payment Services - Latin America
Segment Reporting Information [Line Items]
Revenues	24,256	19,148	71,552	57,481
Merchant Acquiring, net
Segment Reporting Information [Line Items]
Revenues	37,606	30,646	106,808	80,532
Business Solutions
Segment Reporting Information [Line Items]
Revenues	58,279	63,018	179,438	174,455
Operating Segments | Payment Services - Puerto Rico & Caribbean
Segment Reporting Information [Line Items]
Revenues	38,773	33,284	113,626	90,632
Operating costs and expenses	21,420	19,045	61,270	53,904
Depreciation and amortization	3,989	3,349	11,813	9,791
Non-operating income (expenses)	203	127	618	62
EBITDA	21,545	17,715	64,787	46,581
Compensation and benefits	260	258	781	742
Transaction, refinancing and other fees	0	500	660	500
Adjusted EBITDA	21,805	18,473	66,228	47,823
Operating Segments | Payment Services - Latin America
Segment Reporting Information [Line Items]
Revenues	26,792	21,241	77,641	62,678
Operating costs and expenses	22,209	18,284	63,020	53,882
Depreciation and amortization	2,809	2,936	8,695	8,508
Non-operating income (expenses)	1,844	2,959	5,348	4,297
EBITDA	9,236	8,852	28,664	21,601
Compensation and benefits	755	686	2,321	2,263
Transaction, refinancing and other fees	0	0	0	0
Adjusted EBITDA	9,991	9,538	30,985	23,864
Operating Segments | Merchant Acquiring, net
Segment Reporting Information [Line Items]
Revenues	37,606	30,646	106,808	80,531
Operating costs and expenses	19,922	15,643	55,762	42,579
Depreciation and amortization	1,010	477	2,631	1,431
Non-operating income (expenses)	281	161	835	473
EBITDA	18,975	15,641	54,512	39,856
Compensation and benefits	255	244	781	695
Transaction, refinancing and other fees	0	0	0	0
Adjusted EBITDA	19,230	15,885	55,293	40,551
Operating Segments | Business Solutions
Segment Reporting Information [Line Items]
Revenues	58,134	63,018	179,438	174,455
Operating costs and expenses	37,412	35,276	110,276	105,901
Depreciation and amortization	4,691	4,372	14,085	13,049
Non-operating income (expenses)	551	411	2,494	1,482
EBITDA	25,964	32,525	85,741	83,085
Compensation and benefits	70	466	1,193	1,374
Transaction, refinancing and other fees	0	0	(647)	0
Adjusted EBITDA	26,034	32,991	86,287	84,459
Corporate and Other
Segment Reporting Information [Line Items]
Revenues	(15,422)	(11,682)	(42,954)	(31,910)
Operating costs and expenses	(2,097)	4,415	(2,077)	17,923
Depreciation and amortization	6,246	6,993	18,867	20,982
Non-operating income (expenses)	(2,322)	(970)	(5,269)	(2,815)
EBITDA	(9,401)	(10,074)	(27,279)	(31,666)
Compensation and benefits	2,153	2,015	6,204	5,846
Transaction, refinancing and other fees	(42)	1,205	1,202	5,647
Adjusted EBITDA	(7,290)	(6,854)	(19,873)	(20,173)
Payment Processing | Corporate and Other
Segment Reporting Information [Line Items]
Revenues	10,800	9,100	31,200	25,400
Software Sale and Developments | Corporate and Other
Segment Reporting Information [Line Items]
Revenues	2,400	$ 2,600	6,600	$ 6,500
Transaction Processing and Monitoring Fees | Corporate and Other
Segment Reporting Information [Line Items]
Revenues	$ 2,200		$ 5,100

Segment Information - Income fr

Segment Information - Income from Segments to Consolidated Net Income (Detail) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting [Abstract]
Total EBITDA	$ 66,319			$ 64,659			$ 206,425	$ 159,457
Less:
Income tax expense	7,134			6,513			14,474	15,551
Interest expense, net	5,180			5,438			15,905	17,664
Depreciation and amortization	18,745			18,127			56,091	53,761
Net income	$ 35,260	$ 49,091	$ 35,604	$ 34,581	$ 15,625	$ 22,275	$ 119,955	$ 72,481

Subsequent Events (Detail)

Subsequent Events (Detail) - $ / shares	Oct. 21, 2021	Jul. 22, 2021	Apr. 22, 2021	Feb. 18, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Subsequent Event [Line Items]
Cash dividends declared (in usd per share)		$ 0.05	$ 0.05	$ 0.05	$ 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