EVERTEC (EVTC) 10-Q 4 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Oct. 28, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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)		65,202,196
Entity Central Index Key	0001559865
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 224,971	$ 266,351
Restricted cash	18,705	19,566
Accounts receivable, net	112,293	113,285
Prepaid expenses and other assets	40,992	37,148
Total current assets	396,961	436,350
Debt securities available-for-sale, at fair value	2,198	3,041
Investment in equity investee	14,071	12,054
Property and equipment, net	49,928	48,533
Operating lease right-of-use asset	17,799	21,229
Goodwill	417,819	393,318
Other intangible assets, net	196,316	213,288
Deferred tax asset	5,414	6,910
Net investment in leases	14	107
Derivative asset	7,070	0
Other long-term assets	13,378	9,926
Total assets	1,120,968	1,144,756
Current Liabilities:
Accrued liabilities	82,798	74,540
Accounts payable	33,489	28,484
Contract liability	17,051	17,398
Income tax payable	10,757	7,132
Current portion of long-term debt	28,813	19,750
Current portion of operating lease liability	6,007	5,580
Total current liabilities	178,915	152,884
Long-term debt	426,691	444,785
Deferred tax liability	7,998	2,369
Contract liability - long term	34,726	36,258
Operating lease liability - long-term	13,320	16,456
Derivative liability	0	13,392
Other long-term liabilities	4,063	8,344
Total liabilities	665,713	674,488
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; 65,588,270 shares issued and outstanding as of September 30, 2022 (December 31, 2021 - 71,969,856)	655	719
Additional paid-in capital	0	7,565
Accumulated earnings	480,740	506,051
Accumulated other comprehensive loss, net of tax	(29,586)	(48,123)
Total EVERTEC, Inc. stockholders’ equity	451,809	466,212
Non-controlling interest	3,446	4,056
Total equity	455,255	470,268
Total liabilities and equity	$ 1,120,968	$ 1,144,756

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
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)	65,588,270	71,969,856
Common stock outstanding (in shares)	65,588,270	71,969,856

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenues (affiliates Note 16)	$ 145,803	$ 145,883	$ 456,622	$ 434,559
Operating costs and expenses
Cost of revenues, exclusive of depreciation and amortization	76,272	62,995	215,244	182,180
Selling, general and administrative expenses	26,001	17,126	66,436	49,980
Depreciation and amortization	19,712	18,745	58,432	56,091
Total operating costs and expenses	121,985	98,866	340,112	288,251
Income from operations	23,818	47,017	116,510	146,308
Non-operating income (expenses)
Interest income	807	504	2,279	1,343
Interest expense	(6,763)	(5,684)	(18,242)	(17,248)
Earnings of equity method investment	688	411	2,120	1,307
(Loss) gain on foreign currency remeasurement	(7,779)	(304)	(6,858)	652
Gain on sale of a business	135,642	0	135,642	0
Other income (expenses)	374	450	1,621	2,067
Total non-operating income (expenses)	122,969	(4,623)	116,562	(11,879)
Income before income taxes	146,787	42,394	233,072	134,429
Income tax expense	9,048	7,134	22,911	14,474
Net income	137,739	35,260	210,161	119,955
Less: Net loss attributable to non-controlling interest	(75)	(54)	(140)	(59)
Net income attributable to EVERTEC, Inc.’s common stockholders	137,814	35,314	210,301	120,014
Other comprehensive income (loss), net of tax of $716, $382, $1,442 and $817
Foreign currency translation adjustments	4,125	(6,942)	(210)	(7,823)
Gain on cash flow hedges	5,762	1,537	18,824	6,814
Unrealized (loss) gain on change in fair value of debt securities available-for-sale	(21)	8	(77)	97
Total comprehensive income attributable to EVERTEC, Inc.’s common stockholders	$ 147,680	$ 29,917	$ 228,838	$ 119,102
Net income per common share - basic attributable to EVERTEC, Inc.’s common stockholders (in usd per share)	$ 2.08	$ 0.49	$ 3.01	$ 1.66
Net income per common share - diluted attributable to EVERTEC, Inc.’s common stockholders (in usd per share)	$ 2.06	$ 0.48	$ 2.98	$ 1.65

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Other comprehensive income (loss), tax	$ 716	$ 382	$ 1,442	$ 817
Revenues	$ 145,803	$ 145,883	$ 456,622	$ 434,559

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Earnings	Accumulated  Other Comprehensive Loss	Non-Controlling Interest
Beginning balance (in shares) at Dec. 31, 2020		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 (loss)	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
Beginning balance at Dec. 31, 2020	$ 342,429	$ 721	5,340	379,934	(48,254)	4,688
Changes in Stockholders’ Equity
Net income (loss)	119,955
Ending balance (in shares) at Sep. 30, 2021		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 (loss)	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 (loss)	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
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
Beginning balance (in shares) at Dec. 31, 2021	71,969,856	71,969,856
Beginning balance at Dec. 31, 2021	$ 470,268	$ 719	7,565	506,051	(48,123)	4,056
Changes in Stockholders’ Equity
Share-based compensation recognized	4,279		4,279
Repurchase of common stock (in shares)		(521,643)
Repurchase of common stock	(21,179)	$ (5)	(6,193)	(14,981)
Restricted stock units delivered (in shares)		251,085
Restricted stock units delivered	(5,648)	$ 3	(5,651)
Net income (loss)	38,866			38,898		(32)
Cash dividends declared on common stock, $0.05 per share	(3,598)			(3,598)
Other comprehensive income (loss)	12,160				11,912	248
Ending balance (in shares) at Mar. 31, 2022		71,699,298
Ending balance at Mar. 31, 2022	$ 495,148	$ 717	0	526,370	(36,211)	4,272
Changes in Stockholders’ Equity
Cash dividends declared (in usd per share)	$ 0.05
Beginning balance (in shares) at Dec. 31, 2021	71,969,856	71,969,856
Beginning balance at Dec. 31, 2021	$ 470,268	$ 719	7,565	506,051	(48,123)	4,056
Changes in Stockholders’ Equity
Net income (loss)	$ 210,161
Ending balance (in shares) at Sep. 30, 2022	65,588,270	65,588,270
Ending balance at Sep. 30, 2022	$ 455,255	$ 655	0	480,740	(29,586)	3,446
Beginning balance (in shares) at Mar. 31, 2022		71,699,298
Beginning balance at Mar. 31, 2022	495,148	$ 717	0	526,370	(36,211)	4,272
Changes in Stockholders’ Equity
Share-based compensation recognized	5,165		5,165
Repurchase of common stock (in shares)		(357,114)
Repurchase of common stock	(14,036)	$ (4)	(3,466)	(10,566)
Restricted stock units delivered (in shares)		25,149
Restricted stock units delivered	(28)		(28)
Net income (loss)	33,556			33,589		(33)
Cash dividends declared on common stock, $0.05 per share	(3,579)			(3,579)
Other comprehensive income (loss)	(3,625)				(3,241)	(384)
Ending balance (in shares) at Jun. 30, 2022		71,367,333
Ending balance at Jun. 30, 2022	$ 512,601	$ 713	1,671	545,814	(39,452)	3,855
Changes in Stockholders’ Equity
Cash dividends declared (in usd per share)	$ 0.05
Share-based compensation recognized	$ 5,296		5,296
Repurchase of common stock (in shares)		(1,190,388)
Repurchase of common stock	(37,317)	$ (12)	(6,958)	(30,347)
Restricted stock units delivered (in shares)		485
Restricted stock units delivered	(9)		(9)
Net income (loss)	137,739			137,814		(75)
Cash dividends declared on common stock, $0.05 per share	(3,338)			(3,338)
Other comprehensive income (loss)	9,532				9,866	(334)
Common stock received in exchange of the sale of a Business (in shares)		(4,589,160)
Common stock received in exchange of the sale of a Business	$ (169,249)	$ (46)		(169,203)
Ending balance (in shares) at Sep. 30, 2022	65,588,270	65,588,270
Ending balance at Sep. 30, 2022	$ 455,255	$ 655	$ 0	$ 480,740	$ (29,586)	$ 3,446
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				3 Months Ended
	Jul. 28, 2022	Apr. 21, 2022	Feb. 15, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
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

Unaudited Condensed Consolida_7

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities
Net income (loss)	$ 210,161	$ 119,955
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	58,432	56,091
Amortization of debt issue costs and accretion of discount	1,187	1,423
Operating lease amortization	4,576	4,443
Provision for expected credit losses and sundry losses	3,363	1,428
Deferred tax benefit	(1,699)	(1,119)
Share-based compensation	14,740	10,943
Gain on sale of a business	(135,642)	0
Gain from sale of assets	0	(778)
Loss on disposition of property and equipment and impairment of software	4,691	1,168
Earnings of equity method investment	(2,120)	(1,307)
Dividend received from equity method investment	2,053	1,183
Loss (gain) on valuation of foreign currency	6,858	(652)
(Increase) decrease in assets:
Accounts receivable, net	3,503	(593)
Prepaid expenses and other assets	(3,417)	(3,070)
Other long-term assets	(4,389)	(339)
Increase (decrease) in liabilities:
Accrued liabilities and accounts payable	468	(773)
Income tax payable	2,921	(2,685)
Contract liability	1,344	(2,654)
Operating lease liabilities	(4,450)	(4,107)
Other long-term liabilities	(3,571)	(2,702)
Total adjustments	(51,152)	55,900
Net cash provided by operating activities	159,009	175,855
Cash flows from investing activities
Additions to software	(28,287)	(31,004)
Acquisition of customer relationships	(10,607)	(14,750)
Acquisitions, net of cash acquired	(44,369)	0
Property and equipment acquired	(16,313)	(12,388)
Proceeds from sales of property and equipment	77	805
Purchase of certificates of deposit	(7,264)	0
Proceeds from maturities of available-for-sale debt securities	1,015	0
Acquisition of available-for-sale debt securities	(254)	(2,968)
Net cash used in investing activities	(106,002)	(60,305)
Cash flows from financing activities
Statutory withholding taxes paid on share-based compensation	(5,685)	(8,793)
Repayment of short-term borrowings for purchase of equipment and software	(901)	(1,603)
Dividends paid	(10,515)	(10,811)
Repurchase of common stock	(72,532)	(24,388)
Repayment of long-term debt	(9,875)	(28,482)
Net cash used in financing activities	(99,508)	(74,077)
Effect of foreign exchange rate on cash, cash equivalents and restricted cash	4,260	215
Net (decrease) increase in cash, cash equivalents and restricted cash	(42,241)	41,688
Cash, cash equivalents and restricted cash at beginning of the period	285,917	221,105
Cash, cash equivalents and restricted cash at end of the period	243,676	262,793
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	224,971	244,129
Restricted cash	18,705	18,664
Cash, cash equivalents and restricted cash	243,676	262,793
Supplemental disclosure of cash flow information:
Cash paid for interest	18,523	16,289
Cash paid for income taxes	24,386	19,468
Supplemental disclosure of non-cash activities:
Payable due to vendor related to equipment and software acquired	0	739
Non-cash investing activities
Software exchanged for common stock	18,761	0
Goodwill exchanged for common stock	5,813	0
CDs transferred in the acquisition of a business	7,169	0
Non-cash financing and investing activities
Common stock received and retired for sale of a business	$ 169,249	$ 0

The Company and Basis of Presen

The Company and Basis of Presentation	9 Months Ended
	Sep. 30, 2022
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 Latin America and the Caribbean. The Company is based in Puerto Rico and provides a broad range of merchant acquiring, payment processing and business process management services. The Company provides services across 26 countries in the region. EVERTEC owns and operates the ATH network, one of the leading personal identification number ("PIN") debit and automated teller machine ("ATM") networks in the Caribbean and Latin America. In addition, EVERTEC provides a comprehensive suite of services for core bank processing and cash processing in Puerto Rico and technology outsourcing in 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. 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, 2021, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. 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. Certain amounts from prior periods have been reclassified to conform to the current period presentation.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2022
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently adopted accounting pronouncements In October 2021, the FASB issued ASU 2021-08 to update ASC 805, Business Combinations, to require that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. At the acquisition date, an acquirer should account for the related revenue contracts in accordance with Topic 606 as if it had originated the contracts. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company selected to early adopt this guidance for its most recent business combination.

Business Acquisitions and Dispo

Business Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Business Acquisitions and Dispositions	Business Acquisitions and Dispositions Acquisition of a Business On July 1, 2022, EVERTEC's main operating subsidiary, EVERTEC Group closed on the acquisition of 100% of the share capital of BBR SpA ("BBR"), a payment solutions and business technology company with operations in Chile and Peru, by entering into a share purchase agreement (Contrato de Compraventa de Acciones), between EVERTEC Group and IG Capital, Cuatro R, Rivers and Brela ( collectively, the "Sellers"). As consideration for the purchase, the Company transferred to the sellers upon closing cash that amounted to $45.9 million and certificates of deposits that amounted to $7.3 million. The BBR acquisition increases the Company's payment solution offerings, provides access to larger merchants in Chile and expands the Company's physical presence into Peru. The Company accounted for this transaction as a business combination. The following table details the preliminary fair value of assets acquired and liabilities assumed from the BBR acquisition: Assets/Liabilities (at fair value) ( In thousands) Cash and cash equivalents $ 1,551 Accounts receivable, net 2,969 Property and equipment, net 3 Operating lease right-of-use asset 76 Goodwill 33,247 Other intangible assets, net 24,850 Deferred tax asset 267 Total assets acquired 62,963 Accounts payable 1,039 Contract liability 1,136 Operating lease liability 85 Deferred tax liability 7,614 Total liabilities assumed $ 9,874 The following table details the major groups of intangible assets acquired and the weighted average amortization period for these assets: Amount Weighted-average life (Dollar amounts in thousands) Customer relationships $ 22,500 15 Trademark 1,250 5 Software packages 1,100 5 Total $ 24,850 14 Refer to Note 6 Goodwill and Other Intangible Assets for detail of goodwill allocated by reportable segments. The goodwill is primarily attributed to synergies. None of the goodwill is deductible for income tax purposes. Revenues and earnings from the BBR acquisition were not material for either the three or nine months ended September 30, 2022. Pro forma results of operations have not been presented because the effect of this business combination is not material to the consolidated financial condition and results of operations. Sale of a Business On July 1, 2022, the Company closed on a definitive agreement with Banco Popular de Puerto Rico and its parent, Popular, to sell software and prepaid assets and transfer certain employees in connection with those assets (the "Business"). As consideration for the sale of the Business, Popular delivered 4.6 million shares of Evertec common stock held by Popular with a value of $169.2 million at close (the "Popular Transaction"). Additionally, management concluded that $15.4 million included in the Company's contract liability should be treated as consideration for the sale therefore, total consideration for the sale of the Business amounted to $184.7 million. The Company also modified and extended the main commercial agreements with Popular, including a 10-year extension of the Merchant Acquiring Independent Sales Organization Agreement, a 5-year extension of the ATH Network Participation Agreement and a 3-year extension of the MSA. The MSA modifications, among other things, includes the elimination of the exclusivity requirement which was the basis for a non-compete intangible asset recorded in 2010 as part of the original MSA that was amortized over a 15 year period. The Company also entered into new contracts and transition services agreements concurrently with the close of the Popular Transaction with terms between 3 months and 36 months. Given the elimination of the exclusivity clause discussed above, the Company determined that the balance of the non-compete intangible asset on July 1, 2022 of $12.3 million, should be written off as a component of the gain on sale of a business. The Company also concluded that certain provisions in the new contracts and transition services agreements with Popular were not at fair value, therefore requiring that a portion of the gain be allocated to these contracts. The Company recorded a contract liability based on relative fair value of $11.7 million in connection with this conclusion. The following table details the consideration for the sale of the business, major classes of assets and liabilities included in the business sale and the gain on sale of a business: July 1, 2022 (In thousands) Common stock received in exchange for the sale of a business $ 169,249 Contract liability representing consideration for the sale of a business 15,426 Total consideration for the sale of a business 184,675 Goodwill (5,813) Other intangible assets, net (31,011) Prepaid expenses and other assets (497) Contract liability (11,712) Gain on sale of a business $ 135,642

Debt Securities

Debt Securities	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Debt Securities	Debt Securities The amortized cost, gross unrealized gains and losses recorded in OCI and estimated fair value of debt securities available-for-sale by contractual maturity as of September 30, 2022 and December 31, 2021 were as follows: September 30, 2022 (In thousands) Gross unrealized Amortized cost Gains Losses Fair Value Costa Rica Government Obligations After 1 to 5 years $ 2,219 — (21) $ 2,198 December 31, 2021 (In thousands) Gross unrealized Amortized cost Gains Losses Fair Value Costa Rica Government Obligations After 1 to 5 years $ 2,963 $ 78 $ — $ 3,041 Debt securities 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.

Property and Equipment, net

Property and Equipment, net	9 Months Ended
	Sep. 30, 2022
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, 2022 December 31, 2021 Buildings 30 $ 1,387 $ 1,359 Data processing equipment 3 - 5 151,545 141,359 Furniture and equipment 3 - 20 8,742 7,718 Leasehold improvements 5 -10 3,572 3,277 165,246 153,713 Less - accumulated depreciation and amortization (116,531) (106,365) Depreciable assets, net 48,715 47,348 Land 1,213 1,185 Property and equipment, net $ 49,928 $ 48,533 Depreciation and amortization expense related to property and equipment for three and nine months ended September 30, 2022 amounted to $4.6 million and $13.9 million, respectively, compared to $4.2 million and $13.0 million for the corresponding periods in 2021. 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, 2022
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 17): (In thousands) Payment Payment Merchant Business Total Balance at December 31, 2021 $ 160,972 $ 48,402 $ 138,121 $ 45,823 $ 393,318 Goodwill attributable to acquisition — 33,247 — — 33,247 Goodwill attributable to the sale of a business — — — (5,813) (5,813) Foreign currency translation adjustments — (2,933) — — (2,933) Balance at September 30, 2022 $ 160,972 $ 78,716 $ 138,121 $ 40,010 $ 417,819 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 a qualitative analysis, the Company assesses whether it is "more likely than not" that the fair value of a reporting unit is less than its carrying amount. In the quantitative analysis, the Company compares the estimated fair value of the reporting units to their carrying values, including goodwill. No impairment losses were recognized for the periods ended September 30, 2022 or 2021. The carrying amount of other intangible assets at September 30, 2022 and December 31, 2021 was as follows: September 30, 2022 (In thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 15 $ 390,221 $ (295,170) $ 95,051 Trademarks 1 - 15 43,025 (37,638) $ 5,387 Software packages 3 - 10 332,767 (236,889) $ 95,878 Other intangible assets, net $ 766,013 $ (569,697) $ 196,316 December 31, 2021 (Dollar amounts in thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 14 $ 357,991 $ (272,732) $ 85,259 Trademarks 2 - 15 41,901 (36,684) 5,217 Software packages 3 - 10 326,320 (217,643) 108,677 Non-compete agreement 15 56,539 (42,404) 14,135 Other intangible assets, net $ 782,751 $ (569,463) $ 213,288 In the second quarter of 2022, the Company acquired a customer relationship in Puerto Rico for $10.6 million that is being amortized over five years. Revenues and expenses in connection with this customer relationship are included as part of the Payment Services - Puerto Rico & Caribbean segment. As part of the BBR acquisition, the Company added a customer relationship amounting to $22.5 million, a trademark of $1.3 million, and software of $1.1 million, refer to Note 3- Business Acquisitions and Dispositions for further details. On July 1, 2022, in connection with the closing of the Popular Transaction, the remaining balance of the Non-compete agreement of $12.3 million was written off against the transaction gain. The Company no longer has non-compete intangibles on its Balance Sheets as of September 30, 2022. Refer to Note 3- Business Acquisitions and Dispositions for further details. Amortization expense related to other intangibles for the three and nine months ended September 30, 2022 amounted to $15.2 million and $44.5 million, respectively, compared to $14.5 million and $43.0 million for the corresponding periods in 2021, respectively. During the nine months ended September 30, 2022, the Company recorded an impairment loss through cost of revenues of $4.1 million for a multi-year software development for which a reduction in future cash flows was projected. During the nine months 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. Both impairment charges affected the Company’s Payment Services – Puerto Rico & Caribbean segment. The estimated amortization expense of the other intangible balances outstanding at September 30, 2022 for the next five years is as follows: (Dollar amounts in thousands) Remaining 2022 $ 14,156 2023 53,108 2024 41,611 2025 16,218 2026 11,300

Debt and Short-Term Borrowings

Debt and Short-Term Borrowings	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt and Short-Term Borrowings	Debt and Short-Term Borrowings Total debt at September 30, 2022 and December 31, 2021 was as follows: (In thousands) September 30, 2022 December 31, 2021 2023 Term A Loan bearing interest at a variable interest rate (LIBOR plus applicable margin (1)(2) ) $ 162,930 $ 170,875 2024 Term B Loan bearing interest at a variable interest rate (LIBOR plus applicable margin (1)(3) ) 292,574 293,660 Note payable due January 1, 2022 (1) — 758 Total debt $ 455,504 $ 465,293 (1) Net of unaccreted discount and unamortized debt issue costs, as applicable. (2) Applicable margin of 1.75% at September 30, 2022 and December 31, 2021. (3) Subject to a minimum rate ("LIBOR floor") of 0% plus applicable margin of 3.50% at September 30, 2022 and December 31, 2021. 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 leverage ratio is below 1.75x or the resulting amount of the excess cash flow multiplied by the applicable percentage is less than $10 million. On March 8, 2021, in connection with this mandatory repayment clause, the Company repaid $17.8 million, as a result of excess cash flow calculation performed for the year ended December 31, 2020. No mandatory repayment was required in 2022 in connection with the excess cash flow calculation performed for the year ended December 31, 2021 as the leverage ratio was below 1.75x. The unpaid principal balance at September 30, 2022 of the 2023 Term A Loan and the 2024 Term B Loan was $163.4 million and $294.2 million, respectively. The additional borrowing capacity under our Revolving Facility at September 30, 2022 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, which were fully repaid in January 2022. As of December 31, 2021, the outstanding principal balance of the notes payable was $0.8 million. These notes were included in accounts payable in the Company's unaudited condensed consolidated balance sheets. Interest Rate Swap As of September 30, 2022, 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, 2022 and December 31, 2021, the carrying amount of the derivative included on the Company's unaudited condensed consolidated balance sheets was an asset of $7.1 million and a liability $13.4 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, 2022, the Company reclassified losses of $0.4 million and $3.5 million, respectively, from accumulated other comprehensive loss into interest expense compared to $1.8 million and $5.3 million for the corresponding periods in 2021. Based on current LIBOR rates, the Company expects to reclassify gains of $3.4 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, 2022
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 was $2.2 million and $3.0 million as of September 30, 2022 and December 31, 2021 respectively. Derivative 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 an asset position with a balance of $7.1 million as of September 30, 2022 and in a liability position with a balance of $13.4 million as of December 31, 2021. Debt and Short-Term Borrowings The fair values of the term loans at September 30, 2022 and December 31, 2021 were obtained using prices provided by third party service providers. Their pricing is based on various inputs such as market quotes, recent trading activity in a non-active market or imputed prices. These inputs are considered Level 3 inputs under the fair value hierarchy. Also, the pricing may include the use of an algorithm that could take into account movements in the general high yield market, among other variants. The secured term loans are not accounted for at fair value in the balance sheets. The following table presents the carrying value, as applicable, and estimated fair value for financial instruments at September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 (In thousands) Carrying Fair Carrying Fair Financial assets: Costa Rica government obligations 2,198 2,198 3,041 3,041 Interest rate swap 7,070 7,070 — — Financial liabilities: 2023 Term A Loan 162,930 161,730 170,875 168,610 2024 Term B Loan 292,574 291,400 293,660 294,735 Interest rate swap — — 13,392 13,392

Equity

Equity	9 Months Ended
	Sep. 30, 2022
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, 2022: (In thousands) Foreign Currency Cash Flow Hedges Unrealized Gains (losses) on Debt Securities AFS Total Balance - December 31, 2021, net of tax $ (35,971) $ (12,261) 109 (48,123) Other comprehensive (loss) income before reclassifications (210) 15,320 (77) 15,033 Effective portion reclassified to net income — 3,504 — 3,504 Balance - September 30, 2022, net of tax $ (36,181) $ 6,563 $ 32 $ (29,586)

Share-based Compensation

Share-based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation Long-term Incentive Plan ("LTIP") During the three months ended March 31, 2020, 2021 and 2022, 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 2020 LTIP, 2021 LTIP and 2022 LTIP, respectively, all under the terms of the Company's 2013 Equity Incentive Plan. On May 20, 2022 (the “Effective Date”), the Company's shareholders approved the Company's 2022 Equity Incentive Plan (the "2022 Plan") which replaced the Company's 2013 Equity Incentive Plan. All shares remaining available for grant under the 2013 Plan as of the Effective Date plus any shares of common stock of the Company covered by outstanding awards under the 2013 Plan as of the Effective Date that again become available for grant pursuant to the terms of the 2022 Plan as of the Effective Date, to the extent the shares underlying such awards are not issued because they are forfeited or settled or terminate without distribution of shares of common stock of the Company became available for issuance under the 2022 Plan on the Effective Date pursuant to the terms of the 2022 Plan. The vesting of the RSUs is dependent upon service and/or performance conditions as defined in the award agreements. 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 27 of each year for the 2020 LTIP, March 2 of each year for the 2021 LTIP, and February 25 of each year for the 2022 LTIP. In 2022, the Company also granted time-based awards with a three year service vesting period which will cliff vest on February 25, 2025. For the performance-based awards under the 2020 LTIP, 2021 LTIP, and 2022 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 27, 2023 for the 2020 LTIP, March 2, 2024 for the 2021 LTIP, and February 25, 2025 for the 2022 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, 2022: Nonvested RSUs Shares Weighted-average Nonvested at December 31, 2021 1,086,329 $ 34.73 Granted 709,302 41.90 Vested (421,764) 33.02 Forfeited (8,546) 37.10 Nonvested at September 30, 2022 1,365,321 $ 38.97 For the three and nine months ended September 30, 2022, the Company recognized $5.3 million and $14.7 million of share-based compensation expense, respectively, compared with $3.7 million and $10.9 million for the corresponding periods in 2021. As of September 30, 2022, the maximum unrecognized expense for RSUs was $32.0 million. The cost is expected to be recognized over a weighted average period of 2.0 years.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2022
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 17, 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, 2022 (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 $ 89 $ 973 $ — $ 3,790 $ 4,852 Products and services transferred over time 29,456 29,068 36,911 45,516 140,951 $ 29,545 $ 30,041 $ 36,911 $ 49,306 $ 145,803 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 Nine months ended September 30, 2022 (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 $ 244 $ 1,405 $ — $ 7,956 $ 9,605 Products and services transferred over time 86,045 81,229 111,079 168,664 447,017 $ 86,289 $ 82,634 $ 111,079 $ 176,620 $ 456,622 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 Contract Balances The following table provides information about contract assets from contracts with customers. (In thousands) September 30, 2022 December 31, 2021 Balance at beginning of period $ 1,715 $ 2,796 Services transferred to customers 7,246 5,374 Transfers to accounts receivable (3,861) (6,455) Balance at end of period $ 5,100 $ 1,715 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 as of September 30, 2022 amounted to $112.3 million. Contract liability and contract liability - long term at September 30, 2022 amounted to $17.1 million and $34.7 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, as well as amounts related to contracts entered into concurrently with the close of the Popular Transaction as described in Note 3- Business Acquisitions and Dispositions. 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, 2022, the Company recognized revenue of $17.0 million and $29.0 million respectively that was included in the contract liability at December 31, 2021. During the three and nine months ended September 30, 2021, the Company recognized revenue of $5.3 million and $20.7 million that was included in the contract liability at December 31, 2020. Transaction price allocated to the remaining performance obligations

Current Expected Credit Losses

Current Expected Credit Losses	9 Months Ended
	Sep. 30, 2022
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, 2022 December 31, 2021 Balance at beginning of period $ 2,523 $ 2,401 Current period provision for expected credit losses 649 819 Write-offs (135) (698) Recoveries of amounts previously written-off 150 1 Balance at end of period $ 3,187 $ 2,523 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, 2022
Income Tax Disclosure [Abstract]
Income Tax	Income Tax The components of income tax expense for the three and nine months ended September 30, 2022 and 2021, respectively, consisted of the following: Three months ended September, Nine months ended September 30, (In thousands) 2022 2021 2022 2021 Current tax provision $ 9,537 $ 7,306 $ 24,610 $ 15,593 Deferred tax benefit (489) (172) (1,699) (1,119) Income tax expense $ 9,048 $ 7,134 $ 22,911 $ 14,474 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, 2022 and 2021, and its segregation based on location of operations: Three months ended September 30, Nine months ended September 30, (In thousands) 2022 2021 2022 2021 Current tax provision (benefit) Puerto Rico $ 6,318 $ 2,328 $ 11,809 $ 3,363 United States 44 57 107 132 Foreign countries 3,175 4,921 12,694 12,098 Total current tax provision $ 9,537 $ 7,306 $ 24,610 $ 15,593 Deferred tax (benefit) provision Puerto Rico $ 719 $ (258) $ (321) $ (778) United States 54 116 9 (71) Foreign countries (1,262) (30) (1,387) (270) Total deferred tax benefit $ (489) $ (172) $ (1,699) $ (1,119) 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, 2022, the Company has $113.3 million of unremitted earnings from foreign subsidiaries, compared to $99.1 million as of December 31, 2021. 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, 2022, the gross deferred tax asset amounted to $18.6 million and the gross deferred tax liability amounted to $19.4 million, compared to $22.3 million and $16.3 million, respectively, as of December 31, 2021. As of September 30, 2022, and December 31, 2021, there is a valuation allowance against the gross deferred tax asset of approximately $1.8 million and $1.4 million, respectively. During the quarter ended September 30, 2022, the Company released $3.6 million of the previously recorded Puerto Rico liability for uncertain tax positions related to the net operating loss created by transaction costs from mergers and acquisitions as a result of the expiration of the statute of limitations. 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) 2022 2021 Computed income tax at statutory rates $ 87,402 $ 50,411 Differences in tax rates due to multiple jurisdictions 2,612 1,789 Effect of income subject to tax-exemption grant (26,262) (35,121) Effect of the gain on sale of a business (39,645) — Unrecognized tax (benefit) expense (3,472) (3,475) Excess tax benefits on share-based compensation 169 (1,027) Other, net 2,107 1,897 Income tax expense $ 22,911 $ 14,474

Net Income Per Common Share

Net Income Per Common Share	9 Months Ended
	Sep. 30, 2022
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) 2022 2021 2022 2021 Net income available to EVERTEC, Inc.’s common shareholders $ 137,814 $ 35,314 $ 210,301 $ 120,014 Weighted average common shares outstanding 66,398,547 71,969,856 69,906,483 72,082,082 Weighted average potential dilutive common shares (1) 647,262 906,397 682,432 735,625 Weighted average common shares outstanding - assuming dilution 67,045,809 72,876,253 70,588,915 72,817,707 Net income per common share - basic $ 2.08 $ 0.49 $ 3.01 $ 1.66 Net income per common share - diluted $ 2.06 $ 0.48 $ 2.98 $ 1.65 (1) Potential common shares consist of common stock issuable under RSUs awards using the treasury stock method. On February 15, 2022, April 21, 2022 and July 28, 2022, respectively the Company's Board declared quarterly cash dividends of $0.05 per share of common stock, which was paid on March 25, 2022, June 3, 2022 and September 2, 2022, respectively to stockholders' of record on February 25, 2022, May 2, 2022 and August 8, 2022, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
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, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In connection with closing of the Popular Transaction on July 1, 2022, the Company terminated the existing stockholder agreement with Popular, which granted Popular certain benefits as a shareholder of the Company. In addition, on August 15, 2022, through a secondary offering, Popular sold its remaining shares of common stock of Evertec and as of that date no longer holds any shares of Evertec common stock. Evertec is no longer considered a subsidiary of Popular under the Bank Holding Company Act of 1956, as amended (the "Bank Holding Company Act"). Given both the termination of the stockholder agreement and that Popular is no longer a shareholder of EVERTEC, management concluded that Popular is no longer a related party as of August 15, 2022. The following table presents the Company’s transactions with Popular while they were deemed a related party during 2022 and for the three and nine months ended September 30, 2021: Three months ended September 30, Nine months ended September 30, (In thousands) 2022 (1) 2021 2022 (1) 2021 Total revenues $ 22,782 $ 60,091 $ 153,335 $ 182,344 Cost of revenues $ 653 $ 624 $ 2,386 $ 2,242 Operating lease cost and other fees $ 807 $ 1,958 $ 4,433 $ 5,482 Interest earned from affiliate Interest income $ 231 $ 184 $ 1,011 $ 422 (1) Amounts presented through August 15, 2022. The Company continues to have revenue concentration with Popular, revenues as a percentage of total revenues were 35% and 40% for the three and nine months ended September 30, 2022, respectively and 41% and 42%, for the comparable periods in 2021, respectively. Accounts receivable from Popular as of September 30, 2022 amounted to $36.4 million. As of the December 31, 2021, EVERTEC had the following balances arising from transactions with related parties: (In thousands) December 31, 2021 Cash and restricted cash deposits in affiliated bank $ 187,602 Other due to/from affiliate Accounts receivable $ 38,120 Prepaid expenses and other assets $ 1,763 Operating lease right-of-use assets $ 13,533 Other long-term assets $ 2,853 Accounts payable $ 5,601 Contract liabilities $ 40,982 Operating lease liabilities $ 14,019

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information The Company operates in four business segments: Payment Services - Puerto Rico & Caribbean, Payment Services - Latin America, Merchant Acquiring, and Business Solutions. The Payment Services - Puerto Rico & Caribbean segment revenues are comprised of revenues related to providing access to the ATH debit network and other card networks to financial institutions, including related services such as authorization, processing, management and recording of ATM and point of sale ("POS") transactions, and ATM management and monitoring. The segment revenues also include revenues from card processing services (such as credit and debit card processing, authorization and settlement and fraud monitoring and control to debit or credit issuers), payment processing services (such as payment and billing products for merchants, businesses and financial institutions and digital payment services to the government of Puerto Rico), ATH Movil (person-to-person) and ATH Business (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 transaction switching and processing fees, and the leasing of POS devices and network fees. 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.), server capacity usage 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, 2022 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 44,592 $ 33,741 $ 36,911 $ 49,306 $ (18,747) $ 145,803 Operating costs and expenses $ 26,960 $ 28,513 $ 25,261 $ 38,522 $ 2,729 $ 121,985 Depreciation and amortization $ 5,116 $ 4,104 $ 1,045 $ 3,745 $ 5,702 $ 19,712 Non-operating income (expenses) $ 385 $ (7,094) $ 348 $ 136,218 $ (932) $ 128,925 EBITDA 23,133 2,238 13,043 150,747 (16,706) 172,455 Compensation and benefits (2) 1,557 972 498 503 2,141 $ 5,671 Transaction, refinancing and other fees (3) 330 — 325 (134,974) 8,567 $ (125,752) Adjusted EBITDA $ 25,020 $ 3,210 $ 13,866 $ 16,276 $ (5,998) $ 52,374 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $12.3 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction processing of $3.7 million from Payment Services- Latin America to both Payment Services- Puerto Rico & Caribbean and Business Solutions, and transaction processing and monitoring fees of $2.8 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 gain from the Popular transaction and 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, 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 and 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 and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A, net dividends received. Nine months ended September 30, 2022 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 130,678 $ 93,308 $ 111,079 $ 176,620 $ (55,063) $ 456,622 Operating costs and expenses 76,920 77,132 68,288 117,747 25 340,112 Depreciation and amortization 15,062 9,628 3,104 12,787 17,851 58,432 Non-operating income (expenses) 928 (3,365) 980 137,542 (3,560) 132,525 EBITDA 69,748 22,439 46,875 209,202 (40,797) 307,467 Compensation and benefits (2) 2,569 2,758 1,284 1,503 7,241 15,355 Transaction, refinancing and other fees (3) 330 — 325 (134,990) 12,647 (121,688) Adjusted EBITDA $ 72,647 $ 25,197 $ 48,484 $ 75,715 $ (20,909) $ 201,134 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $36.5 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software developments and transaction processing of $10.7 million from Payment Services - Latin America to both Payment Services - Puerto Rico & Caribbean and Business Solutions, and transaction processing and monitoring fees of $7.9 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 gain from the Popular transaction and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A., net of dividends received. 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 and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A. net dividends received, a software impairment charge and a gain from the sale of the asset. The reconciliation of EBITDA to consolidated net income is as follows: Three months ended September 30, Nine months ended September 30, (In thousands) 2022 2021 2022 2021 Total EBITDA $ 172,455 $ 66,319 $ 307,467 $ 206,425 Less: Income tax expense 9,048 7,134 22,911 14,474 Interest expense, net 5,956 5,180 15,963 15,905 Depreciation and amortization 19,712 18,745 58,432 56,091 Net income $ 137,739 $ 35,260 $ 210,161 $ 119,955

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn October 20, 2022, 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 2, 2022 to stockholders of record as of the close of business on November 1, 2022. 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, 2022
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 Latin America and the Caribbean. The Company is based in Puerto Rico and provides a broad range of merchant acquiring, payment processing and business process management services. The Company provides services across 26 countries in the region. EVERTEC owns and operates the ATH network, one of the leading personal identification number ("PIN") debit and automated teller machine ("ATM") networks in the Caribbean and Latin America. In addition, EVERTEC provides a comprehensive suite of services for core bank processing and cash processing in Puerto Rico and technology outsourcing in 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.
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, 2021, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. 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. Certain amounts from prior periods have been reclassified to conform to the current period presentation.
Recently adopted accounting pronouncements	Recently adopted accounting pronouncements In October 2021, the FASB issued ASU 2021-08 to update ASC 805, Business Combinations, to require that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. At the acquisition date, an acquirer should account for the related revenue contracts in accordance with Topic 606 as if it had originated the contracts. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company selected to early adopt this guidance for its most recent business combination.

Business Acquisitions and Dis_2

Business Acquisitions and Dispositions (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of preliminary fair value of assets acquired and liabilities assumed	The following table details the preliminary fair value of assets acquired and liabilities assumed from the BBR acquisition: Assets/Liabilities (at fair value) ( In thousands) Cash and cash equivalents $ 1,551 Accounts receivable, net 2,969 Property and equipment, net 3 Operating lease right-of-use asset 76 Goodwill 33,247 Other intangible assets, net 24,850 Deferred tax asset 267 Total assets acquired 62,963 Accounts payable 1,039 Contract liability 1,136 Operating lease liability 85 Deferred tax liability 7,614 Total liabilities assumed $ 9,874
Schedule of major groups of intangible assets acquired and the weighted average amortization period	The following table details the major groups of intangible assets acquired and the weighted average amortization period for these assets: Amount Weighted-average life (Dollar amounts in thousands) Customer relationships $ 22,500 15 Trademark 1,250 5 Software packages 1,100 5 Total $ 24,850 14
Summary of consideration for sale of business and major classes of assets and liabilities included in gain	The following table details the consideration for the sale of the business, major classes of assets and liabilities included in the business sale and the gain on sale of a business: July 1, 2022 (In thousands) Common stock received in exchange for the sale of a business $ 169,249 Contract liability representing consideration for the sale of a business 15,426 Total consideration for the sale of a business 184,675 Goodwill (5,813) Other intangible assets, net (31,011) Prepaid expenses and other assets (497) Contract liability (11,712) Gain on sale of a business $ 135,642

Debt Securities (Tables)

Debt Securities (Tables)	9 Months Ended
	Sep. 30, 2022
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 of debt securities available-for-sale by contractual maturity as of September 30, 2022 and December 31, 2021 were as follows: September 30, 2022 (In thousands) Gross unrealized Amortized cost Gains Losses Fair Value Costa Rica Government Obligations After 1 to 5 years $ 2,219 — (21) $ 2,198 December 31, 2021 (In thousands) Gross unrealized Amortized cost Gains Losses Fair Value Costa Rica Government Obligations After 1 to 5 years $ 2,963 $ 78 $ — $ 3,041

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 December 31, 2021 Buildings 30 $ 1,387 $ 1,359 Data processing equipment 3 - 5 151,545 141,359 Furniture and equipment 3 - 20 8,742 7,718 Leasehold improvements 5 -10 3,572 3,277 165,246 153,713 Less - accumulated depreciation and amortization (116,531) (106,365) Depreciable assets, net 48,715 47,348 Land 1,213 1,185 Property and equipment, net $ 49,928 $ 48,533

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
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 17): (In thousands) Payment Payment Merchant Business Total Balance at December 31, 2021 $ 160,972 $ 48,402 $ 138,121 $ 45,823 $ 393,318 Goodwill attributable to acquisition — 33,247 — — 33,247 Goodwill attributable to the sale of a business — — — (5,813) (5,813) Foreign currency translation adjustments — (2,933) — — (2,933) Balance at September 30, 2022 $ 160,972 $ 78,716 $ 138,121 $ 40,010 $ 417,819
Summary of carrying amount of other intangible assets	The carrying amount of other intangible assets at September 30, 2022 and December 31, 2021 was as follows: September 30, 2022 (In thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 15 $ 390,221 $ (295,170) $ 95,051 Trademarks 1 - 15 43,025 (37,638) $ 5,387 Software packages 3 - 10 332,767 (236,889) $ 95,878 Other intangible assets, net $ 766,013 $ (569,697) $ 196,316 December 31, 2021 (Dollar amounts in thousands) Useful life in years Gross Accumulated Net carrying Customer relationships 8 - 14 $ 357,991 $ (272,732) $ 85,259 Trademarks 2 - 15 41,901 (36,684) 5,217 Software packages 3 - 10 326,320 (217,643) 108,677 Non-compete agreement 15 56,539 (42,404) 14,135 Other intangible assets, net $ 782,751 $ (569,463) $ 213,288
Summary of estimated amortization expenses	The estimated amortization expense of the other intangible balances outstanding at September 30, 2022 for the next five years is as follows: (Dollar amounts in thousands) Remaining 2022 $ 14,156 2023 53,108 2024 41,611 2025 16,218 2026 11,300

Debt and Short-Term Borrowings

Debt and Short-Term Borrowings (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Summary of total debt	Total debt at September 30, 2022 and December 31, 2021 was as follows: (In thousands) September 30, 2022 December 31, 2021 2023 Term A Loan bearing interest at a variable interest rate (LIBOR plus applicable margin (1)(2) ) $ 162,930 $ 170,875 2024 Term B Loan bearing interest at a variable interest rate (LIBOR plus applicable margin (1)(3) ) 292,574 293,660 Note payable due January 1, 2022 (1) — 758 Total debt $ 455,504 $ 465,293 (1) Net of unaccreted discount and unamortized debt issue costs, as applicable. (2) Applicable margin of 1.75% at September 30, 2022 and December 31, 2021.
Summary of interest rate swap transaction	As of September 30, 2022, 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, 2022
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, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 (In thousands) Carrying Fair Carrying Fair Financial assets: Costa Rica government obligations 2,198 2,198 3,041 3,041 Interest rate swap 7,070 7,070 — — Financial liabilities: 2023 Term A Loan 162,930 161,730 170,875 168,610 2024 Term B Loan 292,574 291,400 293,660 294,735 Interest rate swap — — 13,392 13,392

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022: (In thousands) Foreign Currency Cash Flow Hedges Unrealized Gains (losses) on Debt Securities AFS Total Balance - December 31, 2021, net of tax $ (35,971) $ (12,261) 109 (48,123) Other comprehensive (loss) income before reclassifications (210) 15,320 (77) 15,033 Effective portion reclassified to net income — 3,504 — 3,504 Balance - September 30, 2022, net of tax $ (36,181) $ 6,563 $ 32 $ (29,586)

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022: Nonvested RSUs Shares Weighted-average Nonvested at December 31, 2021 1,086,329 $ 34.73 Granted 709,302 41.90 Vested (421,764) 33.02 Forfeited (8,546) 37.10 Nonvested at September 30, 2022 1,365,321 $ 38.97

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 (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 $ 89 $ 973 $ — $ 3,790 $ 4,852 Products and services transferred over time 29,456 29,068 36,911 45,516 140,951 $ 29,545 $ 30,041 $ 36,911 $ 49,306 $ 145,803 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 Nine months ended September 30, 2022 (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 $ 244 $ 1,405 $ — $ 7,956 $ 9,605 Products and services transferred over time 86,045 81,229 111,079 168,664 447,017 $ 86,289 $ 82,634 $ 111,079 $ 176,620 $ 456,622 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
Summary of contract balances	The following table provides information about contract assets from contracts with customers. (In thousands) September 30, 2022 December 31, 2021 Balance at beginning of period $ 1,715 $ 2,796 Services transferred to customers 7,246 5,374 Transfers to accounts receivable (3,861) (6,455) Balance at end of period $ 5,100 $ 1,715

Current Expected Credit Losses

Current Expected Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 December 31, 2021 Balance at beginning of period $ 2,523 $ 2,401 Current period provision for expected credit losses 649 819 Write-offs (135) (698) Recoveries of amounts previously written-off 150 1 Balance at end of period $ 3,187 $ 2,523

Income Tax (Tables)

Income Tax (Tables)	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Components of income tax expense	The components of income tax expense for the three and nine months ended September 30, 2022 and 2021, respectively, consisted of the following: Three months ended September, Nine months ended September 30, (In thousands) 2022 2021 2022 2021 Current tax provision $ 9,537 $ 7,306 $ 24,610 $ 15,593 Deferred tax benefit (489) (172) (1,699) (1,119) Income tax expense $ 9,048 $ 7,134 $ 22,911 $ 14,474
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, 2022 and 2021, and its segregation based on location of operations: Three months ended September 30, Nine months ended September 30, (In thousands) 2022 2021 2022 2021 Current tax provision (benefit) Puerto Rico $ 6,318 $ 2,328 $ 11,809 $ 3,363 United States 44 57 107 132 Foreign countries 3,175 4,921 12,694 12,098 Total current tax provision $ 9,537 $ 7,306 $ 24,610 $ 15,593 Deferred tax (benefit) provision Puerto Rico $ 719 $ (258) $ (321) $ (778) United States 54 116 9 (71) Foreign countries (1,262) (30) (1,387) (270) Total deferred tax benefit $ (489) $ (172) $ (1,699) $ (1,119)
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) 2022 2021 Computed income tax at statutory rates $ 87,402 $ 50,411 Differences in tax rates due to multiple jurisdictions 2,612 1,789 Effect of income subject to tax-exemption grant (26,262) (35,121) Effect of the gain on sale of a business (39,645) — Unrecognized tax (benefit) expense (3,472) (3,475) Excess tax benefits on share-based compensation 169 (1,027) Other, net 2,107 1,897 Income tax expense $ 22,911 $ 14,474

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2022
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) 2022 2021 2022 2021 Net income available to EVERTEC, Inc.’s common shareholders $ 137,814 $ 35,314 $ 210,301 $ 120,014 Weighted average common shares outstanding 66,398,547 71,969,856 69,906,483 72,082,082 Weighted average potential dilutive common shares (1) 647,262 906,397 682,432 735,625 Weighted average common shares outstanding - assuming dilution 67,045,809 72,876,253 70,588,915 72,817,707 Net income per common share - basic $ 2.08 $ 0.49 $ 3.01 $ 1.66 Net income per common share - diluted $ 2.06 $ 0.48 $ 2.98 $ 1.65 (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, 2022
Related Party Transactions [Abstract]
Summary transactions with related parties	The following table presents the Company’s transactions with Popular while they were deemed a related party during 2022 and for the three and nine months ended September 30, 2021: Three months ended September 30, Nine months ended September 30, (In thousands) 2022 (1) 2021 2022 (1) 2021 Total revenues $ 22,782 $ 60,091 $ 153,335 $ 182,344 Cost of revenues $ 653 $ 624 $ 2,386 $ 2,242 Operating lease cost and other fees $ 807 $ 1,958 $ 4,433 $ 5,482 Interest earned from affiliate Interest income $ 231 $ 184 $ 1,011 $ 422
Summary of balances of transactions with related parties	As of the December 31, 2021, EVERTEC had the following balances arising from transactions with related parties: (In thousands) December 31, 2021 Cash and restricted cash deposits in affiliated bank $ 187,602 Other due to/from affiliate Accounts receivable $ 38,120 Prepaid expenses and other assets $ 1,763 Operating lease right-of-use assets $ 13,533 Other long-term assets $ 2,853 Accounts payable $ 5,601 Contract liabilities $ 40,982 Operating lease liabilities $ 14,019

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 44,592 $ 33,741 $ 36,911 $ 49,306 $ (18,747) $ 145,803 Operating costs and expenses $ 26,960 $ 28,513 $ 25,261 $ 38,522 $ 2,729 $ 121,985 Depreciation and amortization $ 5,116 $ 4,104 $ 1,045 $ 3,745 $ 5,702 $ 19,712 Non-operating income (expenses) $ 385 $ (7,094) $ 348 $ 136,218 $ (932) $ 128,925 EBITDA 23,133 2,238 13,043 150,747 (16,706) 172,455 Compensation and benefits (2) 1,557 972 498 503 2,141 $ 5,671 Transaction, refinancing and other fees (3) 330 — 325 (134,974) 8,567 $ (125,752) Adjusted EBITDA $ 25,020 $ 3,210 $ 13,866 $ 16,276 $ (5,998) $ 52,374 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $12.3 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction processing of $3.7 million from Payment Services- Latin America to both Payment Services- Puerto Rico & Caribbean and Business Solutions, and transaction processing and monitoring fees of $2.8 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 gain from the Popular transaction and 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, 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 and 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 and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A, net dividends received. Nine months ended September 30, 2022 (In thousands) Payment Payment Merchant Business Corporate and Other (1) Total Revenues $ 130,678 $ 93,308 $ 111,079 $ 176,620 $ (55,063) $ 456,622 Operating costs and expenses 76,920 77,132 68,288 117,747 25 340,112 Depreciation and amortization 15,062 9,628 3,104 12,787 17,851 58,432 Non-operating income (expenses) 928 (3,365) 980 137,542 (3,560) 132,525 EBITDA 69,748 22,439 46,875 209,202 (40,797) 307,467 Compensation and benefits (2) 2,569 2,758 1,284 1,503 7,241 15,355 Transaction, refinancing and other fees (3) 330 — 325 (134,990) 12,647 (121,688) Adjusted EBITDA $ 72,647 $ 25,197 $ 48,484 $ 75,715 $ (20,909) $ 201,134 (1) Corporate and Other consists of corporate overhead, certain leveraged activities, other non-operating expenses and intersegment eliminations. Intersegment revenue eliminations predominantly reflect the $36.5 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring and intercompany software developments and transaction processing of $10.7 million from Payment Services - Latin America to both Payment Services - Puerto Rico & Caribbean and Business Solutions, and transaction processing and monitoring fees of $7.9 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 gain from the Popular transaction and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A., net of dividends received. 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 and the elimination of non-cash equity earnings from our 19.99% equity investment in Consorcio de Tarjetas Dominicanas S.A. net dividends received, a software impairment charge and a gain from the sale of the asset.
Reconciliation of EBITDA 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) 2022 2021 2022 2021 Total EBITDA $ 172,455 $ 66,319 $ 307,467 $ 206,425 Less: Income tax expense 9,048 7,134 22,911 14,474 Interest expense, net 5,956 5,180 15,963 15,905 Depreciation and amortization 19,712 18,745 58,432 56,091 Net income $ 137,739 $ 35,260 $ 210,161 $ 119,955

The Company and Basis of Pres_3

The Company and Basis of Presentation (Details)	Sep. 30, 2022 country
Accounting Policies [Abstract]
Number of countries where services are provided	26

Business Acquisitions and Dis_3

Business Acquisitions and Dispositions - Additional Information (Details) - USD ($) $ in Thousands, shares in Millions		3 Months Ended		9 Months Ended
	Jul. 01, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Business Acquisition [Line Items]
Gain on sale of a business		$ 135,642	$ 0	$ 135,642	$ 0
Popular | Collaborative Arrangement, Merchant Acquiring Independent Sales Organization Agreement
Business Acquisition [Line Items]
Main commercial agreements, extension period placed into effect	10 years
Popular | Collaborative Arrangement, ATH Network Participation Agreement
Business Acquisition [Line Items]
Main commercial agreements, extension period placed into effect	5 years
Popular | Collaborative Arrangement, Master Services Agreement
Business Acquisition [Line Items]
Main commercial agreements, extension period placed into effect	3 years
Exclusivity requirements eliminated with modifications, non-compete intangible asset amortization period	15 years
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Disposal Group, Popular
Business Acquisition [Line Items]
Common stock received in exchange for the sale of a business	$ 169,249
Contract liability representing consideration for the sale of a business	15,426
Disposal group, consideration	184,675
Contract liability	11,700
Gain on sale of a business	$ 135,642
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Disposal Group, Popular | Non-compete agreement
Business Acquisition [Line Items]
Write-off of non-compete intangible asset		$ 12,300		$ 12,300
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Disposal Group, Popular | Minimum
Business Acquisition [Line Items]
Transition services agreements, term	3 months
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Disposal Group, Popular | Maximum
Business Acquisition [Line Items]
Transition services agreements, term	36 months
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Disposal Group, Popular | Common Stock
Business Acquisition [Line Items]
Disposal group, consideration (in shares)	4.6
BBR, SpA Acquisition
Business Acquisition [Line Items]
Percentage of share capital acquired	100%
Acquisition, cash paid	$ 45,900
Acquisition, certificates of deposits transferred	$ 7,300

Business Acquisitions and Dis_4

Business Acquisitions and Dispositions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jul. 01, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 417,819		$ 393,318
BBR, SpA Acquisition
Business Acquisition [Line Items]
Cash and cash equivalents		$ 1,551
Accounts receivable, net		2,969
Property and equipment, net		3
Operating lease right-of-use asset		76
Goodwill		33,247
Other intangible assets, net		24,850
Deferred tax asset		267
Total assets acquired		62,963
Accounts payable		1,039
Contract liability		1,136
Operating lease liability		85
Deferred tax liability		7,614
Total liabilities assumed		$ 9,874

Business Acquisitions and Dis_5

Business Acquisitions and Dispositions - Finite-lived Intangible Assets Acquired (Details) - USD ($) $ in Thousands		3 Months Ended
	Jul. 01, 2022	Jun. 30, 2022
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Total		$ 10,600
BBR, SpA Acquisition
Acquired Finite-Lived Intangible Assets [Line Items]
Total	$ 24,850
Weighted-average life	14 years
BBR, SpA Acquisition | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Total	$ 22,500
Weighted-average life	15 years
BBR, SpA Acquisition | Trademark
Acquired Finite-Lived Intangible Assets [Line Items]
Total	$ 1,250
Weighted-average life	5 years
BBR, SpA Acquisition | Software packages
Acquired Finite-Lived Intangible Assets [Line Items]
Total	$ 1,100
Weighted-average life	5 years

Business Acquisitions and Dis_6

Business Acquisitions and Dispositions - Gain on Sale (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Jul. 01, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of a business		$ 135,642	$ 0	$ 135,642	$ 0
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Disposal Group, Popular
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Common stock received in exchange for the sale of a business	$ 169,249
Contract liability representing consideration for the sale of a business	15,426
Total consideration for the sale of a business	184,675
Goodwill	(5,813)
Other intangible assets, net	(31,011)
Prepaid expenses and other assets	(497)
Contract liability	(11,712)
Gain on sale of a business	$ 135,642

Debt Securities - Amortized Cos

Debt Securities - Amortized Cost, Gross Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Costa Rica Government Obligations
Amortized cost, after 1 to 5 years	$ 2,219	$ 2,963
Gross unrealized gains, after 1 to 5 years	0	78
Gross unrealized losses, after 1 to 5 years	(21)	0
Fair Value, after 1 to 5 years	$ 2,198	$ 3,041

Debt Securities - Additional In

Debt Securities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Purchase of available-for sale debt securities	$ 300	$ 254	$ 2,968
Proceeds from maturities of available-for-sale debt securities		$ 1,015	$ 0

Property and Equipment, net - S

Property and Equipment, net - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Property and Equipment, net
Property and equipment, gross	$ 165,246	$ 153,713
Less - accumulated depreciation and amortization	(116,531)	(106,365)
Depreciable assets, net	48,715	47,348
Land	1,213	1,185
Property and equipment, net	$ 49,928	48,533
Buildings
Property and Equipment, net
Useful life in years	30 years
Property and equipment, gross	$ 1,387	1,359
Data processing equipment
Property and Equipment, net
Property and equipment, gross	$ 151,545	141,359
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	$ 8,742	7,718
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	$ 3,572	$ 3,277
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

Property and Equipment, net - A

Property and Equipment, net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense related to property and equipment	$ 4.6	$ 4.2	$ 13.9	$ 13
Loss on disposition of damaged POS devices				$ 0.5

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill by Segments (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Changes in the Carrying Amount of Goodwill
Beginning balance	$ 393,318
Goodwill attributable to acquisition	33,247
Goodwill attributable to the sale of a business	(5,813)
Foreign currency translation adjustments	(2,933)
Ending balance	417,819
Payment Services - Puerto Rico & Caribbean
Changes in the Carrying Amount of Goodwill
Beginning balance	160,972
Goodwill attributable to acquisition	0
Goodwill attributable to the sale of a business	0
Foreign currency translation adjustments	0
Ending balance	160,972
Payment Services - Latin America
Changes in the Carrying Amount of Goodwill
Beginning balance	48,402
Goodwill attributable to acquisition	33,247
Goodwill attributable to the sale of a business	0
Foreign currency translation adjustments	(2,933)
Ending balance	78,716
Merchant Acquiring, net
Changes in the Carrying Amount of Goodwill
Beginning balance	138,121
Goodwill attributable to acquisition	0
Goodwill attributable to the sale of a business	0
Foreign currency translation adjustments	0
Ending balance	138,121
Business Solutions
Changes in the Carrying Amount of Goodwill
Beginning balance	45,823
Goodwill attributable to acquisition	0
Goodwill attributable to the sale of a business	(5,813)
Foreign currency translation adjustments	0
Ending balance	$ 40,010

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)		3 Months Ended			9 Months Ended		12 Months Ended
	Jul. 01, 2022	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Impairment of goodwill					$ 0	$ 0
Amortization expense for intangible assets		$ 15,200,000		$ 14,500,000	44,500,000	43,000,000
BBR, SpA Acquisition
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible asset acquired	$ 24,850,000
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible asset acquired			$ 10,600,000
Useful life in years			5 years
Customer relationships | BBR, SpA Acquisition
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible asset acquired	22,500,000
Trademarks | BBR, SpA Acquisition
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible asset acquired	1,250,000
Software packages
Acquired Finite-Lived Intangible Assets [Line Items]
Impairment charge					4,100,000	$ 600,000
Software packages | BBR, SpA Acquisition
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible asset acquired	$ 1,100,000
Non-compete agreement
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life in years							15 years
Non-compete agreement | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Disposal Group, Popular
Acquired Finite-Lived Intangible Assets [Line Items]
Write-off of non-compete intangible asset		$ 12,300,000			$ 12,300,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Gross amount		$ 766,013	$ 782,751
Accumulated amortization		(569,697)	(569,463)
Net carrying amount		196,316	213,288
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life in years	5 years
Gross amount		390,221	357,991
Accumulated amortization		(295,170)	(272,732)
Net carrying amount		$ 95,051	$ 85,259
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		15 years	14 years
Trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Gross amount		$ 43,025	$ 41,901
Accumulated amortization		(37,638)	(36,684)
Net carrying amount		$ 5,387	$ 5,217
Trademarks | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Useful life in years		1 year	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		$ 332,767	$ 326,320
Accumulated amortization		(236,889)	(217,643)
Net carrying amount		$ 95,878	$ 108,677
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
Gross amount			$ 56,539
Accumulated amortization			(42,404)
Net carrying amount			$ 14,135

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Estimated Amortization Expenses (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining 2022	$ 14,156
2023	53,108
2024	41,611
2025	16,218
2026	$ 11,300

Debt and Short-Term Borrowing_2

Debt and Short-Term Borrowings - Total Debt (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt	$ 455,504	$ 465,293
Note Payable due on January 1, 2022 | Notes Payable
Debt Instrument [Line Items]
Note payable due January 1, 2022	0	758
Term A due on November 27,2023 | Credit Facility
Debt Instrument [Line Items]
Credit facility	$ 162,930	$ 170,875
Margin interest rate	1.75%	1.75%
Term B due on November 27, 2024 | Credit Facility
Debt Instrument [Line Items]
Credit facility	$ 292,574	$ 293,660
Term B due on November 27, 2024 | Credit Facility | LIBOR
Debt Instrument [Line Items]
Margin interest rate	3.50%	3.50%
Minimum variable rate	0%	0%

Debt and Short-Term Borrowing_3

Debt and Short-Term Borrowings - Additional Information (Details)		1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 08, 2021 USD ($)	Jan. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($) agreement	Nov. 27, 2018 USD ($)
Debt Instrument [Line Items]
Mandatory prepayment trigger, minimum leverage ratio							1.75
Losses reclassified from accumulated other comprehensive loss into income			$ 400,000	$ 1,800,000	$ 3,500,000	$ 5,300,000
Gains expected to be reclassified from accumulated other comprehensive loss into income in the next 12 months			3,400,000		3,400,000
Carrying Amount
Debt Instrument [Line Items]
Interest rate swap			7,070,000		7,070,000			$ 0
Derivative, liability position			0		0			13,392,000
Fair Value, Level 2 | Carrying Amount
Debt Instrument [Line Items]
Interest rate swap			7,100,000		7,100,000
Derivative, liability position								$ 13,400,000
Credit Agreement 2018
Debt Instrument [Line Items]
Mandatory prepayment trigger, minimum leverage ratio								1.75
Mandatory prepayment trigger, minimum value of excess cash flow							$ 10,000,000
Credit facility, payment	$ 17,800,000
Notes Payable | December 2019 Financing Agreement
Debt Instrument [Line Items]
Number of financing agreements | agreement									2
Non interest bearing financing agreement									$ 2,400,000
Repayment of notes payable		$ 2,400,000
Notes payable								$ 800,000
Term A due on November 27,2023 | Credit Facility
Debt Instrument [Line Items]
Secured credit facilities			163,400,000		163,400,000
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			294,200,000		294,200,000
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

Debt and Short-Term Borrowing_4

Debt and Short-Term Borrowings - Summary of Interest Rate Swap Transaction (Details) - 2018 Interest Rate Swap Agreement	9 Months Ended
	Sep. 30, 2022 USD ($)
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 (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financial liabilities:
Debt securities, available-for-sale	$ 2,198	$ 3,041
Carrying Amount
Financial liabilities:
Interest rate swap	7,070	0
Derivative, liability position	0	13,392
Fair Value, Level 2
Financial liabilities:
Debt securities, available-for-sale	2,200	3,000
Fair Value, Level 2 | Carrying Amount
Financial liabilities:
Interest rate swap	$ 7,100
Derivative, liability position		$ 13,400

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Carrying Value and Estimated Fair Values (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financial assets:
Costa Rica government obligations	$ 2,198	$ 3,041
Carrying Amount
Financial assets:
Interest rate swap	7,070	0
Financial liabilities:
Interest rate swap	0	13,392
Carrying Amount | Credit Facility | 2023 Term A Loan
Financial liabilities:
Senior secured term loan	162,930	170,875
Carrying Amount | Credit Facility | 2024 Term B Loan
Financial liabilities:
Senior secured term loan	292,574	293,660
Fair Value
Financial assets:
Interest rate swap	7,070	0
Financial liabilities:
Interest rate swap	0	13,392
Fair Value | Credit Facility | 2023 Term A Loan
Financial liabilities:
Senior secured term loan	161,730	168,610
Fair Value | Credit Facility | 2024 Term B Loan
Financial liabilities:
Senior secured term loan	291,400	294,735
Costa Rica government obligations | Carrying Amount
Financial assets:
Costa Rica government obligations	2,198	3,041
Costa Rica government obligations | Fair Value
Financial assets:
Costa Rica government obligations	$ 2,198	$ 3,041

Equity - Changes in Balances of

Equity - Changes in Balances of Accumulated Other Comprehensive Loss (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	$ 470,268
Other comprehensive (loss) income before reclassifications	15,033
Effective portion reclassified to net income	3,504
Ending balance	455,255
Foreign Currency Translation Adjustments
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	(35,971)
Other comprehensive (loss) income before reclassifications	(210)
Effective portion reclassified to net income	0
Ending balance	(36,181)
Cash Flow Hedges
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	(12,261)
Other comprehensive (loss) income before reclassifications	15,320
Effective portion reclassified to net income	3,504
Ending balance	6,563
Unrealized Gains (losses) on Debt Securities AFS
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	109
Other comprehensive (loss) income before reclassifications	(77)
Effective portion reclassified to net income	0
Ending balance	32
Total
Changes in Accumulated Other Comprehensive Income (Loss)
Beginning balance	(48,123)
Ending balance	$ (29,586)

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expenses	$ 5.3	$ 3.7	$ 14.7	$ 10.9
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum unrecognized expense for RSU's	$ 32		$ 32
Unrecognized compensation cost, weighted average period of recognition (in years)			2 years
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%
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%
Awards with Performance Conditions | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance payout percent			200%

Share-based Compensation - Nonv

Share-based Compensation - Nonvested Restricted Shares and RSUs Activity (Details) - Restricted Shares and RSUs	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Shares
Beginning balance (in shares) | shares	1,086,329
Granted (in shares) | shares	709,302
Vested (in shares) | shares	(421,764)
Forfeited (in shares) | shares	(8,546)
Ending balance (in shares) | shares	1,365,321
Weighted-average grant date fair value
Beginning balance (in usd per share) | $ / shares	$ 34.73
Granted (in usd per share) | $ / shares	41.90
Vested (in usd per share) | $ / shares	33.02
Forfeited (in usd per share) | $ / shares	37.10
Ending balance (in usd per share) | $ / shares	$ 38.97

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 145,803	$ 145,883	$ 456,622	$ 434,559
Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	4,852	925	9,605	5,800
Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	140,951	144,958	447,017	428,759
Payment Services - Puerto Rico & Caribbean
Disaggregation of Revenue [Line Items]
Revenues	29,545	25,742	86,289	76,761
Payment Services - Puerto Rico & Caribbean | Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	89	30	244	119
Payment Services - Puerto Rico & Caribbean | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	29,456	25,712	86,045	76,642
Payment Services - Latin America
Disaggregation of Revenue [Line Items]
Revenues	30,041	24,256	82,634	71,552
Payment Services - Latin America | Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	973	449	1,405	1,633
Payment Services - Latin America | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	29,068	23,807	81,229	69,919
Merchant Acquiring, net
Disaggregation of Revenue [Line Items]
Revenues	36,911	37,606	111,079	106,808
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	36,911	37,606	111,079	106,808
Business Solutions
Disaggregation of Revenue [Line Items]
Revenues	49,306	58,279	176,620	179,438
Business Solutions | Products and services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	3,790	446	7,956	4,048
Business Solutions | Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	$ 45,516	$ 57,833	$ 168,664	$ 175,390

Revenues - Contract Balances (D

Revenues - Contract Balances (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Revenue, Contract Balances [Roll Forward]
Balance at beginning of period	$ 1,715	$ 2,796
Services transferred to customers	7,246	5,374
Transfers to accounts receivable	(3,861)	(6,455)
Balance at end of period	$ 5,100	$ 1,715

Revenues - Additional Informati

Revenues - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Accounts receivable, net	$ 112,293		$ 112,293		$ 113,285
Contract liability	17,051		17,051		17,398
Contract liability - long term	34,726		34,726		$ 36,258
Revenue recognized that was included in unearned income	17,000	$ 5,300	29,000	$ 20,700
Professional Services, All Other Contracts | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Transaction price allocated to performance obligations that are unsatisfied or partially satisfied	$ 1,061,800		$ 1,061,800
Professional Services, All Other Contracts | Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period of expected timing of satisfaction (in years)	1 year		1 year
Professional Services, All Other Contracts | Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period of expected timing of satisfaction (in years)	6 years		6 years

Current Expected Credit Losse_2

Current Expected Credit Losses - Allowance Roll Forward (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 2,523	$ 2,401
Current period provision for expected credit losses	649	819
Write-offs	(135)	(698)
Recoveries of amounts previously written-off	150	1
Balance at end of period	$ 3,187	$ 2,523

Income Tax - Components of Inco

Income Tax - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Current tax provision	$ 9,537	$ 7,306	$ 24,610	$ 15,593
Deferred tax benefit	(489)	(172)	(1,699)	(1,119)
Income tax expense	$ 9,048	$ 7,134	$ 22,911	$ 14,474

Income Tax - Tax Expense Based

Income Tax - Tax Expense Based on Location (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Current tax provision (benefit)
Puerto Rico	$ 6,318	$ 2,328	$ 11,809	$ 3,363
United States	44	57	107	132
Foreign countries	3,175	4,921	12,694	12,098
Total current tax provision	9,537	7,306	24,610	15,593
Deferred tax (benefit) provision
Puerto Rico	719	(258)	(321)	(778)
United States	54	116	9	(71)
Foreign countries	(1,262)	(30)	(1,387)	(270)
Total deferred tax benefit	$ (489)	$ (172)	$ (1,699)	$ (1,119)

Income Tax - Additional Informa

Income Tax - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Unremitted earnings from foreign subsidiaries	$ 113.3	$ 99.1
Gross deferred tax asset	18.6	22.3
Gross deferred tax liability	19.4	16.3
Gross deferred tax asset, valuation allowance	1.8	$ 1.4
Reduction in uncertain tax positions, result of expiration of statue of limitation	$ 3.6

Income Tax - Income Tax Expense

Income Tax - Income Tax Expense Differs from Computed Income Tax at Statutory Rates (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Computed income tax at statutory rates			$ 87,402	$ 50,411
Differences in tax rates due to multiple jurisdictions			2,612	1,789
Effect of income subject to tax-exemption grant			(26,262)	(35,121)
Effect of the gain on sale of a business			(39,645)	0
Unrecognized tax (benefit) expense			(3,472)	(3,475)
Excess tax benefits on share-based compensation			169	(1,027)
Other, net			2,107	1,897
Income tax expense	$ 9,048	$ 7,134	$ 22,911	$ 14,474

Net Income Per Common Share - R

Net Income Per Common Share - Reconciliation of Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net income available to EVERTEC, Inc.’s common shareholders	$ 137,814	$ 35,314	$ 210,301	$ 120,014
Weighted average common shares outstanding (in shares)	66,398,547	71,969,856	69,906,483	72,082,082
Weighted average potential dilutive common shares (in shares)	647,262	906,397	682,432	735,625
Weighted average common shares outstanding - assuming dilution (in shares)	67,045,809	72,876,253	70,588,915	72,817,707
Net income per common share - basic (in usd per share)	$ 2.08	$ 0.49	$ 3.01	$ 1.66
Net income per common share - diluted (in usd per share)	$ 2.06	$ 0.48	$ 2.98	$ 1.65

Net Income Per Common Share - A

Net Income Per Common Share - Additional Information (Details) - $ / shares				3 Months Ended
	Jul. 28, 2022	Apr. 21, 2022	Feb. 15, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Earnings Per Share [Abstract]
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 (Details) - Popular - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Transactions with Third Party
Total revenues	$ 22,782	$ 60,091	$ 153,335	$ 182,344
Cost of revenues	653	624	2,386	2,242
Operating lease cost and other fees	807	1,958	4,433	5,482
Interest earned from affiliate
Interest income	$ 231	$ 184	$ 1,011	$ 422

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - Popular - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Transactions with Third Party
Accounts receivable, related party	$ 36.4		$ 36.4
Customer Concentration Risk | Total Revenue
Transactions with Third Party
Total percentage of revenues from Popular	35%	41%	40%	42%

Related Party Transactions - Ba

Related Party Transactions - Balances of Transactions (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Related Party Transactions [Abstract]
Cash and restricted cash deposits in affiliated bank	$ 187,602
Other due to/from affiliate
Accounts receivable	38,120
Prepaid expenses and other assets	1,763
Operating lease right-of-use assets	13,533
Other long-term assets	2,853
Accounts payable	5,601
Contract liabilities	40,982
Operating lease liabilities	$ 14,019

Segment Information - Operation

Segment Information - Operations by Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of operating business segments (in segment) | segment			4
Revenues	$ 145,803	$ 145,883	$ 456,622	$ 434,559
Operating costs and expenses	121,985	98,866	340,112	288,251
Depreciation and amortization	19,712	18,745	58,432	56,091
Non-operating income (expenses)	128,925	557	132,525	4,026
EBITDA	172,455	66,319	307,467	206,425
Compensation and benefits	5,671	3,493	15,355	11,280
Transaction, refinancing and other fees	(125,752)	(42)	(121,688)	1,215
Adjusted EBITDA	$ 52,374	$ 69,770	$ 201,134	$ 218,920
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	$ 29,545	$ 25,742	$ 86,289	$ 76,761
Payment Services - Latin America
Segment Reporting Information [Line Items]
Revenues	30,041	24,256	82,634	71,552
Merchant Acquiring, net
Segment Reporting Information [Line Items]
Revenues	36,911	37,606	111,079	106,808
Business Solutions
Segment Reporting Information [Line Items]
Revenues	49,306	58,279	176,620	179,438
Operating Segments | Payment Services - Puerto Rico & Caribbean
Segment Reporting Information [Line Items]
Revenues	44,592	38,773	130,678	113,626
Operating costs and expenses	26,960	21,420	76,920	61,270
Depreciation and amortization	5,116	3,989	15,062	11,813
Non-operating income (expenses)	385	203	928	618
EBITDA	23,133	21,545	69,748	64,787
Compensation and benefits	1,557	260	2,569	781
Transaction, refinancing and other fees	330	0	330	660
Adjusted EBITDA	25,020	21,805	72,647	66,228
Operating Segments | Payment Services - Latin America
Segment Reporting Information [Line Items]
Revenues	33,741	26,792	93,308	77,641
Operating costs and expenses	28,513	22,209	77,132	63,020
Depreciation and amortization	4,104	2,809	9,628	8,695
Non-operating income (expenses)	(7,094)	1,844	(3,365)	5,348
EBITDA	2,238	9,236	22,439	28,664
Compensation and benefits	972	755	2,758	2,321
Transaction, refinancing and other fees	0	0	0	0
Adjusted EBITDA	3,210	9,991	25,197	30,985
Operating Segments | Merchant Acquiring, net
Segment Reporting Information [Line Items]
Revenues	36,911	37,606	111,079	106,808
Operating costs and expenses	25,261	19,922	68,288	55,762
Depreciation and amortization	1,045	1,010	3,104	2,631
Non-operating income (expenses)	348	281	980	835
EBITDA	13,043	18,975	46,875	54,512
Compensation and benefits	498	255	1,284	781
Transaction, refinancing and other fees	325	0	325	0
Adjusted EBITDA	13,866	19,230	48,484	55,293
Operating Segments | Business Solutions
Segment Reporting Information [Line Items]
Revenues	49,306	58,134	176,620	179,438
Operating costs and expenses	38,522	37,412	117,747	110,276
Depreciation and amortization	3,745	4,691	12,787	14,085
Non-operating income (expenses)	136,218	551	137,542	2,494
EBITDA	150,747	25,964	209,202	85,741
Compensation and benefits	503	70	1,503	1,193
Transaction, refinancing and other fees	(134,974)	0	(134,990)	(647)
Adjusted EBITDA	16,276	26,034	75,715	86,287
Corporate and Other
Segment Reporting Information [Line Items]
Revenues	(18,747)	(15,422)	(55,063)	(42,954)
Operating costs and expenses	2,729	(2,097)	25	(2,077)
Depreciation and amortization	5,702	6,246	17,851	18,867
Non-operating income (expenses)	(932)	(2,322)	(3,560)	(5,269)
EBITDA	(16,706)	(9,401)	(40,797)	(27,279)
Compensation and benefits	2,141	2,153	7,241	6,204
Transaction, refinancing and other fees	8,567	(42)	12,647	1,202
Adjusted EBITDA	(5,998)	(7,290)	(20,909)	(19,873)
Payment Processing | Corporate and Other
Segment Reporting Information [Line Items]
Revenues	12,300	10,800	36,500	31,200
Software Developments and Transaction Processing | Corporate and Other
Segment Reporting Information [Line Items]
Revenues	3,700	2,400	10,700	6,600
Transaction Processing and Monitoring Fees | Corporate and Other
Segment Reporting Information [Line Items]
Revenues	$ 2,800	$ 2,200	$ 7,900	$ 5,100

Segment Information - Income fr

Segment Information - Income from Segments to Consolidated Net Income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting [Abstract]
Total EBITDA	$ 172,455			$ 66,319			$ 307,467	$ 206,425
Less:
Income tax expense	9,048			7,134			22,911	14,474
Interest expense, net	5,956			5,180			15,963	15,905
Depreciation and amortization	19,712			18,745			58,432	56,091
Net income	$ 137,739	$ 33,556	$ 38,866	$ 35,260	$ 49,091	$ 35,604	$ 210,161	$ 119,955

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares					3 Months Ended
	Oct. 20, 2022	Jul. 28, 2022	Apr. 21, 2022	Feb. 15, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
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