Shift4 Payments (FOUR) 10-K 19 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Feb. 12, 2025	Jun. 28, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-39313
Entity Registrant Name	SHIFT4 PAYMENTS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-3676340
Entity Address, Address Line One	3501 Corporate Parkway
Entity Address, City or Town	Center Valley
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	18034
City Area Code	888
Local Phone Number	276-2108
Title of 12(b) Security	Class A Common Stock, $0.0001 par value per share
Trading Symbol	FOUR
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 4.4
Documents Incorporated by Reference	Specifically identified portions of the registrant’s definitive proxy statement for the 2025 annual meeting of stockholders, which will be filed with the Securities and Exchange Commission no later than 120 days after the end of the registrant’s fiscal year ended December 31, 2024, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Central Index Key	0001794669
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		67,777,180
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		19,801,028
Class C Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,519,826

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Philadelphia, Pennsylvania

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 1,211.9	$ 455
Restricted cash	0	84.4
Settlement assets	298.1	321.2
Accounts receivable, net	348.7	256.8
Inventory	8.9	3.4
Prepaid expenses and other current assets	42.8	32.5
Total current assets	1,910.4	1,153.3
Noncurrent assets
Equipment for lease, net	165.1	123.1
Property, plant and equipment, net	27.2	28.6
Right-of-use assets	36.9	22.8
Collateral held by the card networks	37.5	37.7
Goodwill	1,455.6	1,111.3
Other intangible assets, net	980.9
Deferred tax assets	396.8	0
Other noncurrent assets	31	80.9
Total assets	5,041.4	3,387.8
Current liabilities
Current portion of debt	686.9	0
Settlement liabilities	293.3	315.2
Accounts payable	248.3	204.6
Accrued expenses and other current liabilities	120.5	82.1
Current portion of TRA liability	4.3	1.8
Deferred revenue	15.5	20.6
Bank deposits	0	72.3
Current lease liabilities	11	7.8
Total current liabilities	1,379.8	704.4
Noncurrent liabilities
Long-term debt	2,154.1	1,750.2
Noncurrent portion of TRA liability	361.2	3.3
Deferred tax liabilities	60.6	28.7
Noncurrent lease liabilities	29.3	18.8
Other noncurrent liabilities	38.7	14
Total liabilities	4,023.7	2,519.4
Commitments and contingencies (Note 16)
Stockholders' equity
Preferred stock, $0.0001 par value, 20,000,000 shares authorized at December 31, 2024 and 2023, none issued and outstanding	0	0
Additional paid-in capital	1,063	985.9
Accumulated other comprehensive income (loss)	(28.2)	14.1
Retained deficit	(228.2)	(346.7)
Total stockholders' equity attributable to Shift4 Payments, Inc.	806.6	653.3
Noncontrolling interests	211.1	215.1
Total stockholders' equity	1,017.7	868.4
Total liabilities and stockholders' equity	5,041.4	3,387.8
Residual Commission Buyouts
Noncurrent assets
Other intangible assets, net	157.2	229.6
Capitalized Customer Acquisition Costs
Noncurrent assets
Other intangible assets, net	65.3	51.7
Other Intangible Assets
Noncurrent assets
Other intangible assets, net	758.4	548.8
Class A Common Stock
Stockholders' equity
Common stock	0	0
Class B Common Stock
Stockholders' equity
Common stock	0	0
Class C Common Stock
Stockholders' equity
Common stock	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	20,000,000	20,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	300,000,000	300,000,000
Common stock, issued (in shares)	67,737,305	60,664,171
Common stock, outstanding (in shares)	67,737,305	60,664,171
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, issued (in shares)	19,801,028	23,831,883
Common stock, outstanding (in shares)	19,801,028	23,831,883
Class C Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, issued (in shares)	1,519,826	1,694,915
Common stock, outstanding (in shares)	1,519,826	1,694,915

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Gross revenue		$ 3,330.6	$ 2,564.8	$ 1,993.6
Cost of sales (exclusive of certain depreciation and amortization expense shown separately below)		(2,357.5)	(1,877)	(1,523.4)
General and administrative expenses		(459.5)	(329.3)	(267.4)
Revaluation of contingent liabilities		(4)	(23.1)	36.6
Depreciation and amortization expense	[1]	(199.5)	(153.8)	(96.5)
Professional expenses		(41.4)	(33.1)	(33.3)
Advertising and marketing expenses		(21.7)	(15.1)	(14.9)
Impairment of intangible assets		0	(18.6)	0
Income from operations		247	114.8	94.7
Interest income		33.7	31.9	10.8
Other income (expense), net		1.8	(3.9)	0.5
Gain on investments in securities		66.7	12.2	15.1
Change in TRA liability		(289)	(3.4)	(1.7)
Interest expense		(61.8)	(32.1)	(32.5)
Income (loss) before income taxes		(1.6)	119.5	86.9
Income tax benefit (expense)		296.1	3.4	(0.2)
Net income		294.5	122.9	86.7
Less: Net income attributable to noncontrolling interests		(64.9)	(36.7)	(11.6)
Net income attributable to Shift4 Payments, Inc.		$ 229.6	$ 86.2	$ 75.1
Basic net income per share
Weighted average common stock outstanding - basic (in shares)		1,668,826	1,942,054	3,864,579
Diluted net income per share
Weighted average common stock outstanding - diluted (in shares)		1,668,826	1,942,054	3,864,579
Class A Common Stock
Basic net income per share
Net income per share - basic (in dollars per share)		$ 3.36	$ 1.45	$ 1.34
Weighted average common stock outstanding - basic (in shares)		66,009,448	57,738,871	52,303,968
Diluted net income per share
Net income per share - diluted (in dollars per share)		$ 3.03	$ 1.43	$ 1.05
Weighted average common stock outstanding - diluted (in shares)		89,854,352	59,048,350	78,903,737
Class C Common Stock
Basic net income per share
Net income per share - basic (in dollars per share)		$ 3.36	$ 1.45	$ 1.34
Weighted average common stock outstanding - basic (in shares)		1,668,826	1,942,054	3,864,579
Diluted net income per share
Net income per share - diluted (in dollars per share)		$ 3.03	$ 1.43	$ 1.05
Weighted average common stock outstanding - diluted (in shares)		1,668,826	1,942,054	3,864,579
[1] Depreciation and amortization expense includes depreciation of equipment under lease of $54.4 million, $35.3 million, and $28.4 million for the years ended December 31, 2024, 2023, and 2022, respectively.

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Depreciation and amortization expenses of equipment	$ 54.4	$ 35.3	$ 28.4

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 294.5	$ 122.9	$ 86.7
Other comprehensive income (loss)
Unrealized gain (loss) on foreign currency translation adjustment	(55.3)	7.9	12.1
Comprehensive income	239.2	130.8	98.8
Less: Comprehensive income attributable to noncontrolling interests	(51.9)	(38.8)	(15.4)
Comprehensive income attributable to Shift4 Payments, Inc.	$ 187.3	$ 92	$ 83.4

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Millions	Total	Additional Paid-in Capital	Treasury Stock	Retained Deficit	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests	Class A Common Stock	Class A Common Stock Common Stock	Class B Common Stock	Class B Common Stock Common Stock	Class C Common Stock	Class C Common Stock Common Stock
Balance at beginning of period (in shares) at Dec. 31, 2021								51,793,127		26,272,654		5,035,181
Balance at beginning of period at Dec. 31, 2021	$ 399.7	$ 619.2	$ (21.1)	$ (325.3)	$ 0	$ 126.9		$ 0		$ 0		$ 0
Balance at beginning of period, Treasury stock (in shares) at Dec. 31, 2021			378,475
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	86.7			75.1		11.6
Issuance of Class A common stock (in shares)								3,326,476
Issuance of Class A common stock	132.5	89.1				43.4
Repurchases of Class A common stock (in shares)			(3,887,191)
Repurchases of Class A common stock	(184.4)	51.3	$ (184.4)			(51.3)
Retirement of treasury stock (in shares)			(4,265,666)					(4,265,666)
Retirement of treasury stock	0	(92.1)	$ 205.5	(113.4)
Exchange of shares held by Continuing Equity Owners and Rook (in shares)								2,589,008		(443,638)		(2,145,370)
Exchange of shares held by Continuing Equity Owners and Rook	0	1.6				(1.6)
Equity-based compensation	48.3	48.3
Vesting of restricted stock units, net of tax withholding (in shares)								710,273
Vesting of restricted stock units, net of tax withholding	(14.3)	(14.8)				0.5
Other comprehensive income (loss)	12.1				8.3	3.8
Balance at end of period (in shares) at Dec. 31, 2022								54,153,218		25,829,016		2,889,811
Balance at end of period at Dec. 31, 2022	480.6	702.6	$ 0	(363.6)	8.3	133.3		$ 0		$ 0		$ 0
Balance at end of period, Treasury stock (in shares) at Dec. 31, 2022			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	122.9			86.2		36.7
Issuance of Class A common stock (in shares)								4,292,620
Issuance of Class A common stock	334.4	253.5				80.9
Repurchases of Class A common stock (in shares)			(1,663,311)				(1,663,311)
Repurchases of Class A common stock	(105.4)	24.6	$ (105.4)			(24.6)	$ (105.4)
Retirement of treasury stock (in shares)			(1,663,311)					(1,663,311)
Retirement of treasury stock	0	(36.1)	$ 105.4	(69.3)
Exchange of shares held by Continuing Equity Owners and Rook (in shares)								3,192,029		(1,997,133)		(1,194,896)
Exchange of shares held by Continuing Equity Owners and Rook	0	6.8				(6.8)
Equity-based compensation	58.7	58.7
Vesting of restricted stock units, net of tax withholding (in shares)								689,615
Vesting of restricted stock units, net of tax withholding	(27.8)	(24.2)				(3.6)
Other comprehensive income (loss)	7.9				5.8	2.1
Distributions to noncontrolling interests	(2.9)					(2.9)
Balance at end of period (in shares) at Dec. 31, 2023							60,664,171	60,664,171	23,831,883	23,831,883	1,694,915	1,694,915
Balance at end of period at Dec. 31, 2023	868.4	985.9	$ 0	(346.7)	14.1	215.1		$ 0		$ 0		$ 0
Balance at end of period, Treasury stock (in shares) at Dec. 31, 2023			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	294.5			229.6		64.9
Recognition of Vectron noncontrolling interest, net of purchases of Vectron common stock and foreign currency translation	23.9					23.9
Issuance of Class A common stock (in shares)								3,887,680
Issuance of Class A common stock	18	14.6				3.4
Repurchases of Class A common stock (in shares)			(1,605,488)				(1,605,488)
Repurchases of Class A common stock	(145.9)	23	$ (145.9)			(23)	$ (145.9)
Retirement of treasury stock (in shares)			(1,605,488)					(1,605,488)
Retirement of treasury stock	0	(34.8)	$ 145.9	(111.1)
Exchange of shares held by Continuing Equity Owners and Rook (in shares)								4,106,675		(4,030,855)		(75,820)
Exchange of shares held by Continuing Equity Owners and Rook	0	39				(39)
Deferred taxes arising from changes in ownership, net of equity impact of tax receivable agreement for exchanges	1.6	1.6
Equity-based compensation	65.1	65.1
Vesting of restricted stock units, net of tax withholding (in shares)								684,267				(99,269)
Vesting of restricted stock units, net of tax withholding	(32.8)	(31.4)				(1.4)
Other comprehensive income (loss)	(55.3)				(42.3)	(13)
Distributions to noncontrolling interests	(19.8)					(19.8)
Balance at end of period (in shares) at Dec. 31, 2024							67,737,305	67,737,305	19,801,028	19,801,028	1,519,826	1,519,826
Balance at end of period at Dec. 31, 2024	$ 1,017.7	$ 1,063	$ 0	$ (228.2)	$ (28.2)	$ 211.1		$ 0		$ 0		$ 0
Balance at end of period, Treasury stock (in shares) at Dec. 31, 2024			0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating activities
Net income	$ 294.5	$ 122.9	$ 86.7
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	296.6	214.6	149.1
Equity-based compensation expense	65.5	57.4	49.6
Revaluation of contingent liabilities	4	23.1	(36.6)
Impairment of intangible assets	0	18.6	0
Gain on investments in securities	(66.7)	(12.2)	(15.1)
Change in TRA liability	289	3.4	1.7
Amortization of capitalized financing costs	9.3	8.3	8.1
Provision for bad debts	6.5	9.2	10
Deferred income taxes	(322)	(8.1)	(2.1)
Unrealized foreign exchange losses	0.4	2.5	0
Other noncash items	(0.9)	1.5	0.9
Change in operating assets and liabilities
Accounts receivable	(75)	(52.7)	4.1
Prepaid expenses and other assets	(9.9)	(6.8)	(1.5)
Inventory	8.3	7.2	2.8
Capitalized customer acquisition costs	(39.1)	(34.2)	(25.2)
Accounts payable	24.9	14.7	37.3
Accrued expenses and other liabilities	42.1	2	8.1
Payments on contingent liabilities in excess of initial fair value	(11.4)	(17.8)	0
Right-of-use assets and lease liabilities, net	(0.7)	(0.1)	(0.3)
Deferred revenue	(15.1)	(7.5)	(2.2)
Net cash provided by operating activities	500.3	346	275.4
Investing activities
Acquisitions, net of cash acquired	(554.6)	(169.7)	(135.3)
Acquisition of equipment to be leased	(101.3)	(77.8)	(53.8)
Capitalized software development costs	(65.5)	(44.1)	(42.7)
Acquisition of property, plant and equipment	(7.1)	(13.7)	(8)
Deposits with sponsor bank, net	(73.2)	0	0
Residual commission buyouts	(15.8)	(9.5)	(275.5)
Purchase of intangible assets	0	(2)	0
Proceeds from sale of investments in securities	126.4	14.9	0
Investments in securities	0	0	(1.5)
Net cash used in investing activities	(691.1)	(301.9)	(516.8)
Financing activities
Proceeds from long-term debt	1,100	0	0
Deferred financing costs	(18.4)	0	(4.9)
Settlement line of credit	73.2	0	0
Settlement activity, net	54.8	42.3	0
Repurchases of Class A common stock	(145.9)	(105.4)	(185.9)
Payments for withholding tax related to vesting of restricted stock units	(32.8)	(27.9)	(23.1)
Payments on contingent liabilities	(5.7)	(14.8)	(0.7)
Distributions to noncontrolling interests	(19.8)	(2.9)	0
Net change in bank deposits	(70.8)	(1.2)	0
Other financing activities	(5.4)	0	0
Net cash provided by (used in) financing activities	929.2	(109.9)	(214.6)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(21.6)	11.1	1
Change in cash and cash equivalents and restricted cash	716.8	(54.7)	(455)
Cash and cash equivalents and restricted cash - beginning of period	721.8	776.5	1,231.5
Cash and cash equivalents and restricted cash - end of period	1,438.6	721.8	776.5
Cash paid for interest	24	24	24.4
Cash paid for income taxes, net of refunds	$ 14.2	$ 5.3	$ 0.7

Organization, Basis of Presenta

Organization, Basis of Presentation and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Basis of Presentation and Significant Accounting Policies	Organization, Basis of Presentation and Significant Accounting Policies Organization Shift4 Payments, Inc. (“Shift4 Payments” or “the Company”) was incorporated in Delaware in order to carry on the business of Shift4 Payments, LLC and its consolidated subsidiaries. The Company is a leading independent provider of software and payment processing solutions in the United States (“U.S.”) based on total volume of payments processed. Basis of Presentation The consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the U.S. (“U.S. GAAP”). The consolidated financial statements include the accounts of Shift4 Payments, Inc. and its wholly-owned subsidiaries. Shift4 Payments, Inc. consolidates the financial results of Shift4 Payments, LLC, which is considered a variable interest entity. Shift4 Payments, Inc. is the primary beneficiary and sole managing member of Shift4 Payments, LLC and has decision making authority that significantly affects the economic performance of the entity. As a result, the Company consolidates Shift4 Payments, LLC and reports a noncontrolling interest representing the economic interest in Shift4 Payments, LLC held by Rook Holdings Inc. (“Rook”). All intercompany balances and transactions have been eliminated in consolidation. The assets and liabilities of Shift4 Payments, LLC represent substantially all of the consolidated assets and liabilities of Shift4 Payments, Inc. with the exception of certain cash balances, amounts payable under the Tax Receivable Agreement (“TRA”), and the aggregate principal amount of $690.0 million of 2025 Convertible Notes and $632.5 million of 2027 Convertible Notes (together, the “Convertible Notes”) that are held by Shift4 Payments, Inc. directly. As of December 31, 2024 and 2023, $52.0 million and $3.6 million of cash, respectively, w as directly held by Shift4 Payments, Inc. As of December 31, 2024 and 2023, the TRA liability was $365.5 million and $5.1 million, respectively. In connection with the issuance of the Convertible Notes, Shift4 Payments, Inc. entered into Intercompany Convertible Notes with Shift4 Payments, LLC, whereby Shift4 Payments, Inc. provided the net proceeds from the issuance of the Convertible Notes to Shift4 Payments, LLC in the amount of $1,322.5 million. Shift4 Pa yments, Inc., which was incorporated on November 5, 2019, has not had any material operations on a standalone basis since its inception, and all of the operations of the Company are carried out by Shift4 Payments, LLC and its subsidiaries. Change in Presentation of Consolidated Balance Sheets Prior year balances have been adjusted to present “Current portion of TRA liability” and “Noncurrent portion of TRA liability” on their own line items rather than within “Accrued expenses and other current liabilities” and “Other noncurrent liabilities” on the Company’s Consolidated Balance Sheets to conform to the current period presentation. Prior year balances have been adjusted to present “Investments in securities” within the line item “Other noncurrent assets” on the Company’s Consolidated Balance Sheets to conform to the current period presentation. Change in Presentation of Consolidated Statements of Cash Flows During the fourth quarter of 2024, the Company elected to change its presentation of the cash flows associated with “Settlement activity, net” from “Operating activities” to present them as “Financing activities” within its Consolidated Statements of Cash Flows. Prior year balances have been adjusted to conform to the current period presentation. The following table presents the effects of the change in presentation within the Consolidated Statements of Cash Flows: Year Ended December 31, 2023 As Previously Reported Adjustment As Adjusted Cash flows from operating activities Settlement activity, net $ 42.3 $ (42.3) $ — Net cash provided by operating activities $ 388.3 $ (42.3) $ 346.0 Cash flows from financing activities Settlement activity, net $ — $ 42.3 $ 42.3 Net cash used in financing activities $ (152.2) $ 42.3 $ (109.9) Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company’s consolidated financial statements and accompanying notes. Significant estimates inherent in the preparation of the accompanying consolidated financial statements include estimates of fair value of acquired assets and liabilities through business combinations, fair value of contingent liabilities related to earnout payments, deferred income tax valuation allowances, amounts associated with the Company’s tax receivable agreement with Rook and certain affiliates of Searchlight Capital Partners, L.P. (together, the “Continuing Equity Owners”), allowance for doubtful accounts, income taxes, and noncontrolling interests. Estimates are based on past experience and other considerations reasonable under the circumstances. Actual results may differ from these estimates. Cash and Cash Equivalents and Restricted Cash Highly liquid investments with maturities of three months or less at the date of purchase are considered to be cash equivalents and are stated at cost, which approximates fair value. The Company’s cash equivalents consist of highly liquid investments in money market funds. On September 30, 2024, the Company entered into the Settlement Line Credit Agreement (the “Settlement Line Agreement”), by and between Shift4 LLC, as the borrower, and Citizens Bank, N.A. (“Citizens”), as the lender, providing for a settlement line of credit with an aggregate available amount of up to $100.0 million (the “Settlement Line”). The purpose of the Settlement Line is to provide financing for certain settlement obligations of Shift4 LLC’s merchants and to eliminate the requirement for cash collateral under the sponsorship agreement with Citizens (the “Sponsorship Agreement”), which was amended in conjunction with the closing the Settlement Line Agreement. The Settlement Line is scheduled to mature on September 29, 2025, subject to extensions. Draws under the Settlement Line bear interest at a rate per annum equal to either (x) a daily simple SOFR based rate (subject to a 0.0% floor), plus an applicable margin of 0.75%, or (y) to the extent required by the Settlement Line Agreement upon the occurrence of certain specified events, an alternate base rate (equal to the highest of the Federal Funds Effective Rate plus 0.50%, the daily simple SOFR rate (subject to a 0.0% floor) plus 1.00%, and the prime rate announced by Citizens from time to time). In addition to making periodic interest payments on the principal amount of outstanding draws under the Settlement Line, the Company is required to pay an unused fee under the Settlement Line in respect of the unused availability thereunder at a rate equal to 0.15% per annum. As of December 31, 2024, there were $73.2 million of borrowings against the Settlement Line. The borrowings against the Settlement Line have been deposited in an account owned and controlled by Citizens. The deposit and borrowing have been netted on the Company’s Consolidated Balance Sheet because a right of offset exists and the parties intend to net settle. The Company’s European and U.K. business includes settlement processing assets and liabilities. These assets primarily include settlement-related cash and funds receivable from card networks. Cash and cash equivalents held on behalf of merchants and other payees are included within “Settlement assets” on the Consolidated Balance Sheet. The changes in settlement cash and cash equivalents are included within “Settlement activity, net” within Financing activities on the Company’s Consolidated Statements of Cash Flows. The following table provides a reconciliation between cash and cash equivalents on the Consolidated Balance Sheets and the Consolidated Statements of Cash Flows: December 31, 2024 December 31, 2023 Cash and cash equivalents $ 1,211.9 $ 455.0 Restricted cash — 84.4 Cash and cash equivalents included in Settlement assets 226.7 182.4 Total cash and cash equivalents and restricted cash on the Consolidated Statements of Cash Flows $ 1,438.6 $ 721.8 The Company maintains its cash with what are widely considered to be high credit quality financial institutions. U.S. cash balances are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250 thousand per bank. The Company maintains cash and cash equivalent balances in excess of FDIC limits. Settlement Assets and Liabilities Settlement assets and liabilities are balances related to the settlement process which involves the transferring of funds between card issuers, merchants and other third parties. The Company currently operates under two different models (1) a sponsorship model and (2) a direct member model. In North America, the Company operates under the sponsorship model and outside North America the Company primarily operates under the direct member model. Sponsorship Model In North America, the Company operates under the sponsorship model. In order for the Company to provide payment processing services, Visa, MasterCard and other payment networks require sponsorship by a member clearing bank. The Company has an agreement with banks and financial institutions (the “Sponsoring Member”), to provide sponsorship services to the Company. The sponsorship services allow the Company to route transactions under the Sponsoring Members’ membership to clear card transactions through card networks. Under this model, the standards of the payment networks restrict the Company from performing funds settlement and require that these funds be in the possession of the Sponsoring Member until the merchant is funded. Accordingly, settlement assets and obligations resulting from the submission of settlement files to the network or cash received from the network in advance of funding the network are the responsibility of the Sponsoring Member and are not recorded on the Company’s Consolidated Balance Sheets. Direct Member Model The Company’s European and U.K. business operates as a full acquirer and without a sponsor bank. Under the direct member model, the Company’s Consolidated Balance Sheets include settlement assets and liabilities that represent balances arising from the settlement process which involves the transferring of funds between card issuers, payment networks, processors, and merchants, as well as collateral held to manage merchant credit risk. As a processor, the Company facilitates the clearing and settlement activity for the merchant and records settlement assets and liabilities on the Consolidated Balance Sheets upon processing a payment transaction. Settlement assets represent cash received or amounts receivable primarily from payment networks or bank partners. Settlement liabilities primarily represent amounts payable to merchants. Settlement assets are in excess of Settlement liabilities due to prefunding provided to certain merchants. Amounts included on the Consolidated Balance Sheets as Collateral held by card networks relate to collateral required by the card networks to operate as a direct member. Bank Deposits The Company previously operated a licensed credit institution in Malta, and had issued deposits to corporate counterparties and to individual retail customers. In connection with the Company’s change of the entity from a bank to a payment institution, all deposits were refunded in 2024. Accounts Receivable Accounts receivable are primarily comprised of amounts due from the Company’s customers. Most receivables are typically received within ten business days following the end of the month. In addition, accounts receivable includes amounts due from merchants for point-of-sale (“POS”) software, support services, and other miscellaneous service fees, as well as receivables related to chargeback transactions, as described below. Disputes between a cardholder and a merchant periodically arise as a result of, among other things, cardholder dissatisfaction with merchandise quality, unsatisfactory merchant services, nondelivery of goods or nonperformance of services. Such disputes may not be resolved in the merchant’s favor. In these cases, the transaction is “charged back” to the merchant, which means the disputed amount is refunded to the cardholder through the acquiring bank and charged to the merchant. If the merchant has inadequate funds, the Company bears credit risk. In North America, the Company’s sponsor bank holds merchant funds that are available to meet merchant chargeback liabilities if the merchant has inadequate funds to the meet the obligation. Total merchant funds held at the Company’s sponsor bank totaled $6.6 million and $9.0 million as of December 31, 2024 and 2023 , respectively. These amounts are not recorded on the Company’s Consolidated Balance Sheets. The carrying amount of accounts receivable is reduced by an allowance for doubtful accounts that reflects management’s best estimate of accounts that will not be collected. The allowance for doubtful accounts is primarily comprised of (1) credit risk associated with processing receivables where the credit card or automatic clearing house (“ACH”) transaction to settle the customer accounts was rejected and the Company estimates an amount to be uncollectible (2) transactions disputed by a cardholder in which the Company bears the credit risk (chargeback receivables) and (3) a portion of gateway and other merchant billing receivables for which the Company estimates amounts to be uncollectible. The allowance is based on historical loss experience, any current or forecasted risks identified through collection matters, and current economic trends. Any change in the assumptions used may result in an additional allowance for doubtful accounts being recognized in the period in which the change occurs. Changes in the allowance related to chargeback receivables are recognized within “Cost of sales” in the Consolidated Statements of Operations. Changes in the allowance for all other receivables are recognized within “General and administrative expenses” in the Consolidated Statements of Operations. The change in the Company’s allowance for doubtful accounts was as follows: Year Ended December 31, 2024 2023 Beginning balance $ 22.7 $ 18.1 Additions to expense 6.5 9.2 Write-offs, net of recoveries and other adjustments (8.2) (4.6) Ending balance $ 21.0 $ 22.7 Accounts Payable Accounts payable are primarily comprised of amounts due to the Company’s sponsor bank, payment networks, financial institutions and other third parties for interchange and processing fees, as well as other third party suppliers and vendors. Inventory Inventory represents credit and debit card terminals, POS systems and electronic cash registers on hand and not in service. Inventory is recorded using the weighted average cost method. Inventory deemed to have costs greater than their respective values are reduced to net realizable value as a loss in the period recognized. Property, Plant and Equipment, Net Property, plant and equipment are stated at cost. Depreciation is computed using the straight-line method over the asset’s estimated useful life. Leasehold improvements are depreciated over the lesser of the estimated life of the leasehold improvement or the remaining lease term. Maintenance and repairs, which do not extend the useful life of the respective assets, are charged to expense as incurred. The estimated useful life of each asset category is as follows: Useful life Equipment 3-5 years Capitalized software 3-5 years Leasehold improvements 5-10 years* Furniture and fixtures 5 years Vehicles 5 years *Not to exceed remaining lease term. Goodwill Goodwill represents the excess of the purchase price over the fair value of net tangible and intangible assets acquired in a business combination. The Company evaluates goodwill for impairment annually at October 1 and whenever events or circumstances make it more likely than not that impairment may have occurred. The Company has determined that its business comprises one reporting unit. The Company has the option to first assess qualitative factors to determine whether events or circumstances indicate it is more likely than not that the fair value of a reporting unit is greater than its carrying amount. The Company considers factors in performing a qualitative assessment including, but not limited to, general macroeconomic conditions, industry and market conditions, company financial performance, changes in strategy, and other relevant entity-specific events. If the Company elects to bypass the qualitative assessment or does not pass the qualitative assessment, a quantitative assessment is performed. Residual Commission Buyouts, Net Residual commission buyouts primarily represent amounts paid to a third-party distribution partner to buy out future residual commission streams that will be owed to them. The typical buyout payment to the partner is comprised of a lump sum payment due immediately and a future contingent payment dependent on attrition rates and/or other financial metrics within the respective merchant portfolios. Contingent consideration for residual commission buyouts associated with asset acquisitions is included in the initial cost of the assets acquired. Subsequent changes in contingent consideration are recognized as an adjustment to the cost basis of the acquired assets. Amortization is computed using the straight-line method. Residual commission buyouts associated with asset acquisitions are amortized over an estimated useful life of four years, and residual commission buyouts associated with business combinations are amortized over a weighted average estimated useful life of eight years. Other Intangible Assets, Net Other intangible assets, net consists of items such as merchant relationships, acquired technology, trademarks and trade names, and capitalized software development costs. The Company capitalizes software development costs in developing internal use software when capitalization requirements have been met. Costs prior to meeting the capitalization requirements are expensed as incurred. Amortization of other intangible assets is computed using the straight-line method over the estimated useful life of each type of asset, which ranges from one Impairment of long-lived assets The Company evaluates long-lived assets (including intangible assets) for impairment whenever events or circumstances indicate that the carrying amounts of such assets may not be recoverable. An asset is considered impaired when the carrying amount of the asset exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If impaired, the asset’s carrying value is written down to its fair value. During 2023, in conjunction with the acquisition of Finaro, the Company ceased development on several in-process software development projects. It was determined that the intellectual property obtained in the Finaro transaction was better suited for the objectives of these projects. The total impairment charge associated with these projects was $18.6 million. Crypto Settlement Assets and Liabilities The Company recognizes a liability accompanied by an asset of the same value to reflect its obligation to safeguard the crypto settlement assets it holds on behalf of users of The Giving Block’s platform. These crypto settlement assets are comprised of numerous cryptocurrencies that are traded on numerous cryptocurrency exchanges. The liabilities and assets are remeasured at each reporting date at the fair value of the crypto settlement assets, which is determined using quoted prices from cryptocurrency exchanges. Crypto settlement assets are recorded within “Prepaid expenses and other current assets” and crypto settlement liabilities are recorded within “Accrued expenses and other current liabilities” on the Company’s Consolidated Balance Sheets. The Company’s agent, which acts as a cryptocurrency exchange and custodian, holds the cryptographic key information of the crypto settlement assets and is primarily obligated to secure the assets and protect them from loss or theft. The Company maintains the internal recordkeeping of the assets. The estimated fair value of the Company’s crypto settlement assets and crypto settlement liabilities was $5.7 million and $3.5 million as of December 31, 2024 and 2023, respectively. Equipment for Lease Equipment for lease represents terminals and POS systems that are provided under the Company’s software as a service (“SaaS”) agreements. Equipment for lease is stated at cost, less accumulated depreciation. Certain costs incurred in connection with the assembly and delivery of leased assets to the merchant are capitalized as part of the cost of such assets. Depreciation commences when new equipment is first deployed to a merchant and is computed using the straight-line method. Equipment is depreciated over an estimated useful life of four years. Leases The Company periodically enters into agreements in which it is the lessee, including office leases and warehouse space. These agreements meet the criteria for recognition as leases under Accounting Standards Codification (“ASC”) 842: Leases (“ASC 842”) . Leases are classified as either operating or finance, based on the substance of the transaction at inception of the lease. Classification is reassessed if the terms of the lease are chan ged. Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. For these agreements, the Company recognizes an operating lease right-of-use asset and an operating lease liability based on the present value of the minimum lease payments over the non-cancelable lease term. Operating lease expense is recognized within “General and administrative expenses” in the Consolidated Statements of Operations on a straight-line basis over the period of the lease. Revenue Recognition ASC 606: Revenue from Contracts with Customers (“ASC 606”) provides a single model to determine when and how revenue is recognized. The core principle of ASC 606 is that an entity should recognize revenue to depict the transfer of control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company recognizes revenue using a five-step model resulting in revenue being recognized as performance obligations within a contract have been satisfied. The steps within that model include: (i) identifying the existence of a contract with a customer; (ii) identifying the performance obligations within the contract; (iii) determining the contract’s transaction price; (iv) allocating the transaction price to the contract’s performance obligations; and, (v) recognizing revenue as the contract’s performance obligations are satisfied. Judgment is required to apply the principles-based, five-step model for revenue recognition. Management is required to make certain estimates and assumptions about the Company’s contracts with its customers, including, among others, the nature and extent of its performance obligations, its transaction price amounts and any allocations thereof, the events which constitute satisfaction of its performance obligations, and when control of any promised goods or services is transferred to its customers. The Company provides its merchants with an end-to-end payments offering that combines its payments platform, including its proprietary gateway and breadth of software integrations, and its suite of technology solutions. The Company primarily earns revenue through volume-based payment and transaction fees, as well as subscription revenue for its software and technology solutions. Payments-Based Revenue Payments-based revenue includes fees for payment processing and gateway services. Payment processing fees are primarily driven as a percentage of payment volume. They may also have a fixed fee, a minimum monthly usage fee and a fee based on transactions. Gateway services, data encryption and tokenization fees are primarily driven by per transaction fees as well as monthly usage fees. Included in payments-based revenue are fees earned from our international payments platform, strategic enterprise merchant relationships, and alternative payments methods, including cryptocurrency and stock donations. T he Company satisfies its performance obligations and recognizes transaction fees upon authorization of a transaction by the merchant’s bank. These transaction fees represent the full amount of the fee charged to the merchant, including interchange and payment network costs paid to the card brands pursuant to the transactions the Company facilitates through the network while performing an end-to-end payment obligation. The Company’s performance obligation is to stand-ready to provide payment processing services for each day during the duration of the payment processing agreement. Providing payment processing services involves multiple promises including: 1) payment processing, 2) gateway services including tokenization and data encryption, 3) risk mitigation, and 4) settlement services. The Company considers each of these promises to be inputs to produce a combined output of providing a fully secured and integrated end-to-end payment processing service to a merchant. Further, the combination of these services is transformative in nature in that the significant integration allows for front-end and back-end risk mitigation, merchant portability, third-party software integrations, and enhanced reporting functionality. The Company applies the right to invoice practical expedient to payment processing services as each performance obligation is recognized over time and the amounts invoiced are reflective of the value transferred to the customer. Payment processing fees are recognized on a gross basis (gross of network fees) as the Company is the principal in the delivery of the payment processing solution to its merchants because it controls the service on its payments platform. The Company also contracts directly with its merchants and has complete pricing latitude on the processing fees charged to its merchants. As such, it bears the credit risk for network fees and transactions charged back to the merchant. Subscription-Based Revenue The Company also generates revenues from recurring fees which are based on the technology deployed by the merchant. This includes statement fees, fees for the Company’s proprietary business intelligence software and other annual fees, and other miscellaneous services such as help desk support and warranties on equipment. Annual fees are recognized as revenue over the respective period the fee covers, which is generally one year or less. The Company’s SaaS agreements include multiple performance obligations. For such agreements, the Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company estimates standalone selling prices based on the fair value of each product and service. As part of the SaaS fees for its POS systems provided to merchants, the Company identified the following separate performance obligations under ASC 606: (1) Software: The Company provides a “Hybrid Cloud” agreement which includes on-premise software as well as a cloud component. The on-premise solution interacts with the cloud service to provide an end-to-end integrated solution to the merchant. As the on-premise software and cloud-based service are transformative in nature, they are not distinct performance obligations. The revenue allocated to software from the monthly SaaS fee qualifies as a service and revenue is recognized ratably over time as the performance obligation represents a stand-ready obligation to provide the service. (2) Hardware: The Company’s standard business practice is to provide hardware to its merchants as a lease. The hardware is typically accounted for as an operating lease and the revenue allocated to this performance obligation is recognized ratably over the contract term. In limited instances, hardware is sold to the customer. These transactions are typically the result of customer preference. (3) Other support services: The Company offers customers technical support services and the leased hardware. Technical support services include the promise to provide the merchant with software updates if and when available. The Company also provides customers with assurance that its equipment will function in accordance with contract specifications over the lease term. Revenue allocated to this performance obligation is recognized ratably over time as the performance obligation represents a stand-ready obligation to provide the service. Other Revenue Other revenue includes revenue derived from hardware sales, software license sales, third-party residuals, and fees charged for technology support to merchants. Capitalized Customer Acquisition Costs The Company incurs costs to obtain payment processing contracts with customers, primarily in the form of upfront processing bonuses provided to the Company’s internal sales team and to the Company’s software partners, which consist of independent software vendors and value-added resellers. The Company recognizes as an asset the incremental costs of obtaining a contract with a customer if it expects to recover the costs. Capitalized customer acquisition costs are amortized ratably over the estimated life of the customer, which is genera lly four years . Treasury Stock The Company periodically purchases its own common stock that is traded on public markets as part of an announced stock repurchase program. The Company records repurchases of common stock at cost in treasury stock on the Company’s Consolidated Balance Sheets. Upon retirement, the Company allocates the value of treasury stock between Additional paid-in capital and Retained earnings. The Company typically retires all repurchased shares within the quarter of repurchase. Noncontrolling Interests Noncontrolling interests primarily represents the economic interests of LLC Interests held by Rook. Income or loss is attributed to the noncontrolling interests based on the weighted average LLC Interests outstanding during the period. The noncontrolling interests’ ownership percentage will fluctuate over time as Rook elects to exchange LLC Interests for shares of Class A common stock, and as the number of shares of Class A common stock outstanding otherwise changes. Additionally, as of December 31, 2024, the Company had a 75% controlling interest in Vectron Systems AG (“Vectron”). The Company consolidates 100% of Vectron’s assets, liabilities, revenues and expenses. The Company recognized a noncontrolling interest representing the 25% economic interest in Vectron not held by the Company, which amounted to $23.7 million as of December 31, 2024 and was calculated as the number of shares of Vectron’s common stock not owned by the Company, multiplied by the price per share of Vectron’s common stock as of the acquisition date. Equity-based Compensation The Company’s equity-based compensation consists of restricted stock units (“RSUs”) and performance RSUs (“PRSUs”) issued to certain employees and non-employee directors. Equity-based compensation expense is recorded within “General and administrative expenses” in the Consolidated Statements of Operations. The Company accounts for forfeitures when they occur. RSUs Compensation expense for RSUs is recognized on a straight-line basis over the requisite service period based on the fair value of the award on the date of grant. PRSUs Vesting for PRSUs is typically subject to satisfying objective operating performance conditions. Compensation expense for PRSUs is based on the fair value of the award on the date of grant. Compensation expense is recognized during the vesting period only when it is probable that the operating performance conditions will be achieved. The Company records a cumulative adjustment to compensation expense for PRSUs if there is a change in the determination of the probability that the operating performance conditions will be achieved. In recent years, expense associated with PRSUs has been immaterial. Income Taxes Shift4 Payments, Inc. is the sole managing member of Shift4 Payments, LLC, a partnership that is not subject to tax. Any taxable income or loss from Shift4 Payments, LLC is passed through and included in the taxable

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions Each of the following acquisitions was accounted for as a business combination using the acquisition method of accounting. The respective purchase prices were allocated to the assets acquired and liabilities assumed based on the estimated fair values at the date of acquisition. The excess of the purchase price over the fair value of the net assets acquired was allocated to goodwill and represents the future economic benefits arising from other assets acquired, which cannot be individually identified or separately recognized. Supplemental pro forma financial information has not been provided as the acquisitions were not considered material individually or in the aggregate. Eigen On November 18, 2024, the Company completed the acquisition of Eigen Payments (“Eigen”) for $115.0 million of total purchase consideration, net of cash acquired. Eigen is a Canadian-based provider of payment solutions for the retail, restaurant and hospitality industries that management believes will strengthen the Company’s position within these verticals. Total purchase consideration was as follows: Cash $ 124.8 Total purchase consideration 124.8 Less: cash acquired (9.8) Total purchase consideration, net of cash acquired $ 115.0 The following table summarizes the fair value assigned to the assets acquired and liabilities assumed at the acquisition date. These amounts reflect various preliminary fair value estimates and assumptions, and are subject to change within the measurement period as valuations are finalized. The primary area of preliminary purchase price allocation subject to change relates to the valuation of other intangible assets and residual goodwill. Accounts receivable $ 1.7 Prepaid expenses and other current assets 0.3 Goodwill (a) 76.0 Other intangible assets 52.4 Equipment for lease, net 0.5 Property, plant and equipment, net 0.3 Right-of-use assets 0.5 Accounts payable (0.7) Accrued expenses and other current liabilities (0.5) Deferred revenue (0.8) Current lease liabilities (0.3) Deferred tax liabilities (14.2) Noncurrent lease liabilities (0.2) Net assets acquired $ 115.0 (a) Goodwill is not deductible for tax purposes. The following table provides further detail on other intangible assets acquired: Merchant relationships $ 51.6 Acquired technology 0.8 Other intangible assets $ 52.4 The fair values of other intangible assets were estimated using inputs classified as Level 3 under the income approach using the relief-from-royalty method for acquired technology and the multi-period excess earnings method for merchant relationships. This transaction was not taxable for income tax purposes. The estimated life of acquired technology and merchant relationships are one The acquisition of Eigen did not have a material impact on the Company’s consolidated financial statements. Givex On November 8, 2024, the Company completed the acquisition of Givex Corp. (“Givex”) for $127.8 million of total purchase consideration, net of cash acquired. Givex is a global provider of gift cards, loyalty programs, and POS solutions which management believes will significantly increase the Company’s overall customer base and geographic footprint. Total purchase consideration was as follows: Cash $ 146.0 Total purchase consideration 146.0 Less: cash acquired (18.2) Total purchase consideration, net of cash acquired $ 127.8 The following table summarizes the fair value assigned to the assets acquired and liabilities assumed at the acquisition date. These amounts reflect various preliminary fair value estimates and assumptions, and are subject to change within the measurement period as valuations are finalized. The primary area of preliminary purchase price allocation subject to change relates to the valuation of accounts receivable, other intangible assets, accounts payable, accrued expenses and other current liabilities, and residual goodwill. Accounts receivable $ 8.6 Inventory 2.2 Prepaid expenses and other current assets 1.2 Goodwill (a) 84.3 Other intangible assets 66.1 Property, plant and equipment, net 1.5 Right-of-use assets 1.1 Other noncurrent assets 1.7 Accounts payable (4.8) Accrued expenses and other current liabilities (4.7) Current lease liabilities (0.4) Current portion of long-term debt (2.2) Deferred tax liabilities (17.5) Noncurrent lease liabilities (0.8) Other noncurrent liabilities (8.5) Net assets acquired $ 127.8 (a) Goodwill is not deductible for tax purposes. The following table provides further detail on other intangible assets acquired: Merchant relationships $ 58.2 Acquired technology 6.6 Trademark and trade names 1.3 Other intangible assets $ 66.1 The fair values of other intangible assets were estimated using inputs classified as Level 3 under the income approach using the relief-from-royalty method for acquired technology and the trade name, and the multi-period excess earnings method for merchant relationships. This transaction was not taxable for income tax purposes. The estimated life of acquired technology, merchant relationships and trade name are ten fifteen The acquisition of Givex did not have a material impact on the Company’s consolidated financial statements. Vectron On June 14, 2024, the Company acquired a majority stake in Vectron Systems AG (“Vectron”). Based in Germany, Vectron is a supplier of POS systems to the restaurant and hospitality industries that management believes will provide the Company with local product expertise and a European distribution network of POS resellers. Throughout the remainder of June and July 2024, the Company purchased additional shares of Vectron’s common stock through a public tender offer and open market purchases. As of December 31, 2024, the Company owned approximately 75% of Vectron’s common stock, for which it paid $62.7 million of total purchase consideration, net of cash acquired. The Company is in the process of gaining operational control of Vectron via a domination and profit and loss transfer agreement (DPLTA). The Company consolidates 100% of Vectron’s assets, liabilities, revenues and expenses and records a noncontrolling interest balance for the 25% economic interest in Vectron not held by the Company. Total purchase consideration was as follows: Cash $ 66.9 Contingent consideration (a) 2.9 Total purchase consideration 69.8 Less: cash acquired (7.1) Total purchase consideration, net of cash acquired 62.7 Noncontrolling interest 24.9 Fair value of net assets acquired $ 87.6 (a) The Company agreed to a cash earnout due to certain former shareholders of Vectron based on the achievement against certain operational metrics through 2027. The actual earn out can range between zero and €7.0 million. The fair value of the earnout was included in the initial purchase consideration and will be revalued and recorded quarterly until the end of the earnout period as a fair value adjustment within “Revaluation of contingent liabilities” in the Company’s Consolidated Statements of Operations. As of December 31, 2024, the fair value of the earnout was $3.8 million, which is recognized in “Other noncurrent liabilities” on the Company’s Consolidated Balance Sheets. The following table summarizes the fair value assigned to the assets acquired and liabilities assumed at the acquisition date. These amounts reflect various preliminary fair value estimates and assumptions, and are subject to change within the measurement period as valuations are finalized. The primary area of preliminary purchase price allocation subject to change relates to the valuation of accounts receivable, prepaid expenses and other current assets, other intangible assets, accounts payable, accrued expenses and other current liabilities, and residual goodwill. Accounts receivable $ 7.5 Inventory 3.4 Prepaid expenses and other current assets 6.3 Goodwill (a) 80.7 Other intangible assets 30.1 Property, plant and equipment, net 1.5 Right-of-use assets 8.9 Other noncurrent assets 2.5 Accounts payable (5.3) Accrued expenses and other current liabilities (6.6) Deferred revenue (4.6) Current lease liabilities (1.2) Deferred tax liabilities, net (9.5) Noncurrent lease liabilities (7.9) Other noncurrent liabilities (b) (18.2) Net assets acquired $ 87.6 (a) Goodwill is not deductible for tax purposes. (b) In connection with the Company’s majority stake in Vectron and due to Vectron’s acquisition of Acardo Group AG (“Acardo”) in December 2022, the Company became party to an earnout agreement with certain former shareholders of Acardo. The earnout is payable in multiple tranches, with up to €25.0 million payable in 2026. This amount is based on a multiple of the average of Acardo’s earnings before interest and taxes (“EBIT”) achieved in 2024 and 2025. Additionally, a percentage of Acardo’s net income for fiscal years 2023, 2024 and 2025 are payable in 2025 and 2026. Each portion of the earnout is expected to be paid in cash. The fair value of the earnout was included in the initial purchase consideration and will be revalued quarterly until the end of the earnout period as a fair value adjustment within “Revaluation of contingent liabilities” in the Company’s Consolidated Statements of Operations. As of December 31, 2024, the fair value of the earnout was $12.1 million, of which $0.7 million was recognized in “Accrued expenses and other current liabilities” and $11.4 million was recognized in “Other noncurrent liabilities” on the Company’s Consolidated Balance Sheets. The following table provides further detail on other intangible assets acquired: Merchant relationships $ 26.8 Acquired technology 2.0 Trademarks and trade names 1.3 Other intangible assets $ 30.1 The fair values of other intangible assets were estimated using inputs classified as Level 3 under the income approach using the relief-from-royalty method for acquired technology and the trade name, and the multi-period excess earnings method for merchant relationships. This transaction was not taxable for income tax purposes. The estimated life of acquired technology, merchant relationships and trade name are six twelve The acquisition of Vectron did not have a material impact on the Company’s consolidated financial statements. Revel On June 13, 2024, the Company completed the acquisition of Revel Systems, Inc. (“Revel”) by acquiring 100% of its common stock for $245.3 million of total purchase consideration, net of cash acquired. Revel offers a cloud-based POS system primarily for multi-location merchants, focusing on restaurants, as well as back office and marketing tools that management believes will strengthen the Company’s presence within the restaurant and retail markets. Total purchase consideration was as follows: Cash $ 262.6 Total purchase consideration 262.6 Less: cash acquired (17.3) Total purchase consideration, net of cash acquired $ 245.3 The following table summarizes the fair value assigned to the assets acquired and liabilities assumed at the acquisition date. These amounts reflect various preliminary fair value estimates and assumptions, and are subject to change within the measurement period as valuations are finalized. The primary area of preliminary purchase price allocation subject to change relates to the valuation of accounts receivable, prepaid expenses and other current assets, other intangible assets, accounts payable, accrued expenses and other current liabilities, and residual goodwill. Accounts receivable $ 9.9 Inventory 1.8 Prepaid expenses and other current assets 4.4 Property, plant and equipment, net 0.3 Right-of-use assets 1.4 Goodwill (a) 123.1 Other intangible assets 118.9 Deferred tax assets 7.9 Other noncurrent assets 0.3 Accounts payable (6.6) Accrued expenses and other current liabilities (7.1) Deferred revenue (6.1) Current lease liabilities (0.6) Noncurrent lease liabilities (1.0) Other noncurrent liabilities (1.3) Net assets acquired $ 245.3 (a) Goodwill is not deductible for tax purposes. The following table provides further detail on other intangible assets acquired: Merchant relationships $ 106.3 Acquired technology 10.9 Trademarks and trade names 1.7 Other intangible assets $ 118.9 The fair values of other intangible assets were estimated using inputs classified as Level 3 under the income approach using the relief-from-royalty method for acquired technology and the trade name, and the multi-period excess earnings method for merchant relationships. Management’s estimates of fair value are based upon assumptions related to projected revenues, earnings before interest income, interest expense, income taxes, and depreciation and amortization (“EBITDA”) margins, attrition rates, and discount rates. This transaction was not taxable for income tax purposes. The estimated life of acquired technology, merchant relationships and trade name are three ten The acquisition of Revel did not have a material impact on the Company’s consolidated financial statements.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company’s revenue is comprised primarily of payments-based revenue which includes fees for payment processing and gateway services. Payment processing fees are primarily driven as a percentage of payment volume. The Company also generates revenues from recurring fees which are based on the technology deployed to the merchant. Under ASC 606, the Company typically has three separate performance obligations under its recurring software as a service (“SaaS”) agreements for point-of-sale systems provided to merchants: (1) point-of-sale software, (2) lease of hardware and (3) other support services. Disaggregated Revenue The following table presents a disaggregation of the Company’s revenue from contracts with customers based on similar operational characteristics: Year Ended December 31, 2024 2023 2022 Payments-based revenue $ 2,990.1 $ 2,386.0 $ 1,857.1 Subscription and other revenues 340.5 178.8 136.5 Total $ 3,330.6 $ 2,564.8 $ 1,993.6 The vast majority of the Company’s revenue is recognized over time. Contract Liabilities The Company charges merchants for various post-contract license support and service fees. These fees typically relate to a period of one year. The Company recognizes the revenue on a straight-line basis over its respective period. As of December 31, 2024 and 2023, the Company had deferred revenue of $18.9 million and $22.5 million, respectively. The change in the contract liabilities was primarily the result of a timing difference between payment from the customer and the Company’s satisfaction of each performance obligation.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying amount of goodwill were as follows: Balance at December 31, 2023 $ 1,111.3 Eigen acquisition 76.0 Givex acquisition 84.3 Vectron acquisition 80.7 Revel acquisition 123.1 Effect of foreign currency translation, adjustments related to prior period acquisitions, and other (19.8) Balance at December 31, 2024 $ 1,455.6

Depreciation and Amortization

Depreciation and Amortization	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Depreciation and Amortization	Depreciation and Amortization Amounts charged to expense in the Company’s Consolidated Statements of Operations for depreciation and amortization were as follows: Amortization Depreciation Residual Commission Buyouts Other Intangible Assets Capitalized Customer Acquisition Equipment Under Lease Property, Plant and Equipment Total Year Ended December 31, 2024 Depreciation and amortization expense $ 87.5 $ 46.9 $ — $ 54.4 $ 10.7 $ 199.5 Cost of sales — 71.1 25.5 — 0.5 97.1 Total depreciation and amortization (a) $ 87.5 $ 118.0 $ 25.5 $ 54.4 $ 11.2 $ 296.6 Year Ended December 31, 2023 Depreciation and amortization expense $ 86.9 $ 24.3 $ — $ 35.3 $ 7.3 $ 153.8 Cost of sales — 41.2 18.5 — 1.1 60.8 Total depreciation and amortization (b) $ 86.9 $ 65.5 $ 18.5 $ 35.3 $ 8.4 $ 214.6 Year Ended December 31, 2022 Depreciation and amortization expense $ 41.4 $ 22.4 $ — $ 28.4 $ 4.3 $ 96.5 Cost of sales — 27.5 24.2 — 0.9 52.6 Total depreciation and amortization (c) $ 41.4 $ 49.9 $ 24.2 $ 28.4 $ 5.2 $ 149.1 (a) Total amortization of $231.0 million consists of amortization of acquired intangibles of $167.0 million and amortization of non-acquired intangibles of $64.0 million. (b) Total amortization of $170.9 million consists of amortization of acquired intangibles of $127.8 million and amortization of non-acquired intangibles of $43.1 million. (c) Total amortization of $115.5 million consists of amortization of acquired intangibles of $77.9 million and amortization of non-acquired intangibles of $37.6 million. As of December 31, 2024, the estimated amortization expense for each of the five succeeding years and thereafter is as follows: Residual Commission Buyouts Other Intangible Assets Capitalized Customer Acquisition Costs Total Amortization 2025 $ 88.6 $ 132.3 $ 26.3 $ 247.2 2026 54.6 113.6 20.2 188.4 2027 6.1 90.2 13.8 110.1 2028 4.5 63.4 5.0 72.9 2029 1.5 62.3 — 63.8 Thereafter 1.9 296.6 — 298.5 Total $ 157.2 $ 758.4 $ 65.3 $ 980.9

Residual Commission Buyouts

Residual Commission Buyouts	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Residual Commission Buyouts	Residual Commission Buyouts Residual commission buyouts represent transactions with certain third-party distribution partners, pursuant to which the Company acquires their ongoing merchant relationships that subscribe to the Company’s end-to-end payments platform. Residual commission buyouts, net consisted of the following: Weighted Average Amortization Period (in years) December 31, 2024 Carrying Value Accumulated Amortization Net Carrying Value Residual commission buyouts from asset acquisitions 4 $ 337.3 $ (190.1) $ 147.2 Residual commission buyouts from business combinations 8 13.9 (3.9) 10.0 Total residual commission buyouts $ 351.2 $ (194.0) $ 157.2 Weighted Average Amortization Period (in years) December 31, 2023 Carrying Value Accumulated Amortization Net Carrying Value Residual commission buyouts from asset acquisitions 4 $ 323.6 $ (105.7) $ 217.9 Residual commission buyouts from business combinations 8 13.9 (2.2) 11.7 Total residual commission buyouts $ 337.5 $ (107.9) $ 229.6

Other Intangible Assets, Net

Other Intangible Assets, Net	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Other Intangible Assets, Net	Other Intangible Assets, Net Other intangible assets, net consisted of the following: Weighted Average Amortization Period (in years) December 31, 2024 Carrying Value Accumulated Net Carrying Merchant relationships 12 $ 584.0 $ (95.4) $ 488.6 Acquired technology 8 269.0 (112.3) 156.7 Trademarks and trade names 12 29.4 (8.5) 20.9 Capitalized software development costs 3 150.7 (58.5) 92.2 Total other intangible assets, net $ 1,033.1 $ (274.7) $ 758.4 Weighted Average Amortization Period (in years) December 31, 2023 Carrying Value Accumulated Net Carrying Merchant relationships 11 $ 340.6 $ (57.8) $ 282.8 Acquired technology 9 257.6 (80.8) 176.8 Trademarks and trade names 13 28.1 (6.3) 21.8 Capitalized software development costs 3 98.8 (34.1) 64.7 Banking license 2 3.0 (0.3) 2.7 Total other intangible assets, net $ 728.1 $ (179.3) $ 548.8

Capitalized Customer Acquisitio

Capitalized Customer Acquisition Costs, Net	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Capitalized Customer Acquisition Costs, Net	Capitalized Customer Acquisition Costs, Net Capitalized customer acquisition costs, net consisted of the following: Weighted Average Amortization Period (in years) Carrying Value Accumulated Amortization Net Carrying Value Total costs as of December 31, 2024 4 $ 118.1 $ (52.8) $ 65.3 Total costs as of December 31, 2023 4 $ 96.6 $ (44.9) $ 51.7

Equipment for Lease, Net

Equipment for Lease, Net	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Equipment for Lease, Net	Equipment for Lease, Net Equipment for lease, net consisted of the following: Weighted Average Depreciation Period (in years) December 31, 2024 Carrying Value Accumulated Depreciation Net Carrying Value Equipment under lease 4 $ 243.6 $ (93.0) $ 150.6 Equipment held for lease (a) N/A 14.5 — 14.5 Total equipment for lease, net $ 258.1 $ (93.0) $ 165.1 Weighted Average Depreciation Period (in years) December 31, 2023 Carrying Value Accumulated Depreciation Net Carrying Value Equipment under lease 4 $ 181.2 $ (69.6) $ 111.6 Equipment held for lease (a) N/A 11.5 — 11.5 Total equipment for lease, net $ 192.7 $ (69.6) $ 123.1 (a) Represents equipment that was not yet initially deployed to a merchant and, accordingly, is not being depreciated.

Property, Plant and Equipment,

Property, Plant and Equipment, Net	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net Property, plant and equipment, net consisted of the following: December 31, 2024 December 31, 2023 Equipment $ 21.0 $ 21.9 Capitalized software 4.4 3.5 Leasehold improvements 19.5 18.7 Furniture and fixtures 2.4 2.2 Vehicles 0.5 0.4 Total property, plant and equipment, gross 47.8 46.7 Less: Accumulated depreciation (20.6) (18.1) Total property, plant and equipment, net $ 27.2 $ 28.6

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt The Company’s outstanding debt consisted of the following: Maturity Effective Interest Rate December 31, 2024 December 31, 2023 6.750% Senior Notes due 2032 ("2032 Senior Notes") August 15, 2032 6.92% $ 1,100.0 $ — Convertible Senior Notes due 2025 ("2025 Convertible Notes") December 15, 2025 0.49% 690.0 690.0 Convertible Senior Notes due 2027 ("2027 Convertible Notes") August 1, 2027 0.90% 632.5 632.5 4.625% Senior Notes due 2026 ("2026 Senior Notes") November 1, 2026 5.13% 450.0 450.0 Total debt principal 2,872.5 1,772.5 Less: Unamortized capitalized financing fees (31.5) (22.3) Total debt $ 2,841.0 $ 1,750.2 Current portion of debt $ 686.9 $ — Long-term debt 2,154.1 1,750.2 Total debt $ 2,841.0 $ 1,750.2 Amortization of capitalized financing fees is included within “Interest expense” in the Company’s Consolidated Statements of Operations. Amortization expense for capitalized financing fees was $9.3 million, $8.3 million, and $8.1 million for the years ended December 31, 2024, 2023, and 2022, respectively. Future principal payments As of December 31, 2024, future principal payments associated with the Company’s long-term debt were as follows: 2025 $ 690.0 2026 450.0 2027 632.5 Thereafter 1,100.0 Total $ 2,872.5 Convertible Notes due 2025 and 2027 In December 2020, Shift4 Payments, Inc. issued an aggregate principal amount of $690.0 million of convertible senior notes due 2025 (“2025 Convertible Notes”) to qualified institutional buyers in an offering exempt from registration under the Securities Act. The Company received net proceeds, after deducting initial purchasers’ discounts and estimated offering expenses, of approximately $673.6 million from the 2025 Convertible Notes Offering. The 2025 Convertible Notes do not bear regular interest and the principal amount of the 2025 Convertible Notes does not accrete. The 2025 Convertible Notes will mature on December 15, 2025 unless earlier repurchased, redeemed or converted. Before September 15, 2025, noteholders will have the right to convert their 2025 Convertible Notes only upon the occurrence of certain events. In July 2021, Shift4 Payments, Inc. issued an aggregate principal amount of $632.5 million 0.50% convertible senior notes due 2027 (“2027 Convertible Notes”, and together with the 2025 Convertible Notes, “Convertible Notes”) to qualified institutional buyers in an offering exempt from registration under the Securities Act. The Company received net proceeds, after deducting initial purchasers’ discounts and estimated offering expenses, of approximately $617.7 million from the 2027 Convertible Notes Offering. The 2027 Convertible Notes bear regular interest of 0.50% per year, payable semi-annually in arrears on February 1 and August 1 of each year, beginning on February 1, 2022. The 2027 Convertible Notes will mature on August 1, 2027, unless earlier repurchased, redeemed or converted. Before May 1, 2027, noteholders will have the right to convert their 2027 Convertible Notes only upon the occurrence of certain events. The Convertible Notes are the Company’s senior, unsecured obligations and are equal in right of payment with the Company’s existing and future senior, unsecured indebtedness, senior in right of payment to the Company’s future indebtedness that is expressly subordinated to the Convertible Notes and effectively subordinated to the Company’s existing and future secured indebtedness, to the extent of the value of the collateral securing that indebtedness. The Convertible Notes are structurally subordinated to all existing and future indebtedness and other liabilities, including trade payables, and (to the extent the Company is not a holder thereof) preferred equity, if any, of the Company’s subsidiaries. The Company will settle conversions for the Convertible Notes by paying in cash up to the principal amount of the Convertible Notes with any excess to be paid or delivered, as the case may be, in cash or shares of Class A common stock or a combination of both at its election, based on the conversion rate. The initial conversion rate for the 2025 Convertible Notes is 12.4262 shares of Class A common stock per $1,000 principal amount of 2025 Convertible Notes (equivalent to an initial conversion price of approximately $80.48 per share of Class A common stock), subject to customary adjustments upon the occurrence of specified events. The initial conversion rate for the 2027 Convertible Notes is 8.1524 shares of Class A common stock per $1,000 principal amount of 2027 Convertible Notes (equivalent to an initial conversion price of approximately $122.66 per share of Class A common stock), subject to customary adjustments upon the occurrence of specified events. Before September 15, 2025 for the 2025 Convertible Notes and before May 1, 2027 for the 2027 Convertible Notes, holders will have the right to convert their respective Convertible Notes under the following circumstances: (1) during any calendar quarter (and only during such calendar quarter) commencing after the calendar quarter ended March 31, 2021 for the 2025 Convertible Notes and during any calendar quarter (and only during such calendar quarter) commencing after the calendar quarter ended September 30, 2021 for the 2027 Convertible Notes, if the last reported sale price of the Company’s Class A common stock exceeds 130% of the conversion price for each of at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter, (2) during the five consecutive business day period after any ten consecutive trading day period (such ten consecutive trading period, the “measurement period”) in which the trading price per $1,000 principal amount of the 2025 and 2027 Convertible Notes, respectively, for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate in effect on each such trading day; (3) if the Company calls any or all of the 2025 or 2027 Convertible Notes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events. In addition, if certain corporate events that constitute a “make-whole fundamental change” occur, then the conversion rate will, in certain circumstances, be increased for a specified period of time. From and after September 15, 2025 for the 2025 Convertible Notes and from and after May 1, 2027 for the 2027 Convertible Notes, holders may convert their respective Convertible Notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. The Company has the right, at its election, to redeem all, or any portion, of the Convertible Notes for cash at any time, and from time to time, before the 40th scheduled trading day immediately before the respective maturity date of the 2025 Convertible Notes and the 2027 Convertible Notes, but only if the last reported sale price per share of the Company’s Class A common stock exceeds 130% of the conversion price on (i) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related redemption notice; and (2) the trading day immediately before the date the Company sends such notice. The redemption price of the 2025 Convertible Notes will be equal to the principal amount of the 2025 Convertible Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date and the redemption price of the 2027 Convertible Notes will be equal to the principal amount of the 2027 Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Upon the occurrence of a “fundamental change,” which term includes certain change of control transactions, certain business combination transactions and certain de-listing events with respect to the Company’s Class A common stock, the Company must offer to repurchase the Convertible Notes at a price equal to 100% of their principal amount of the respective Convertible Notes, plus, in respect of the 2025 Convertible Notes, accrued and unpaid special interest, if any, and in respect of the 2027 Convertible Notes, accrued and unpaid interest, to, but not including, the date of repurchase. In addition, calling any 2025 Convertible Notes or 2027 Convertible Notes for redemption will constitute a make-whole fundamental change with respect to such Convertible Notes, in which case the conversion rate applicable to the conversion of the respective Convertible Notes will be increased in certain circumstances if it is converted after it is called for redemption and prior to the second business day immediately before the related redemption date. In connection with the issuance of the 2025 and 2027 Convertible Notes, Shift4 Payments, Inc. entered into Intercompany Convertible Notes with Shift4 Payments, LLC, whereby Shift4 Payments, Inc. provided the net proceeds from the issuance of the 2025 and 2027 Convertible Notes to Shift4 Payments, LLC in the amount of $673.6 million and $617.7 million, respectively. The terms of the Intercompany Convertible Notes mirror the terms of the 2025 and 2027 Convertible Notes, respectively, issued by Shift4 Payments, Inc. The intent of the Intercompany Convertible Notes is to maintain the parity of shares of Class A common stock with LLC Units as required by the Shift4 Payments LLC Agreement. Debt issuance costs related to the 2025 Convertible Notes and 2027 Convertible Notes comprised of discounts and commissions payable to the initial purchasers and third-party offering costs total $16.4 million and $14.8 million, respectively. Unamortized debt issuance costs for the 2025 Convertible Notes at December 31, 2024 and 2023 were $3.1 million and $6.4 million, respectively. The net carrying amount of the 2025 Convertible Notes as of December 31, 2024 and 2023 was $686.9 million and $683.6 million, respectively. Unamortized debt issuance costs for the 2027 Convertible Notes at December 31, 2024 and 2023 were $6.5 million and $9.0 million, respectively. The net carrying amount of the 2027 Convertible Notes as of December 31, 2024 and 2023 was $626.0 million and $623.5 million, respectively. Senior Notes due 2026 In October 2020, the Company’s subsidiaries Shift4 Payments, LLC and Shift4 Payments Finance Sub, Inc. (together, the “Issuers”) issued an aggregate of $450.0 million principal amount of 4.625% Senior Notes due 2026 (“2026 Senior Notes”). The Company received net proceeds, after deducting initial purchasers’ discounts and estimated offering expenses, of approximately $442.8 million from the 2026 Senior Notes Offering. The 2026 Senior Notes mature on November 1, 2026, and accrue interest at a rate of 4.625% per year. Interest on the 2026 Senior Notes is payable semi-annually in arrears on each May 1 and November 1, commencing on May 1, 2021. At any time, the Issuers may redeem all or a portion of the 2026 Senior Notes at the redemption prices set forth in the indenture governing the 2026 Senior Notes, plus accrued and unpaid interest, if any, to but excluding, the date of redemption. The Issuers may make such redemption so long as, after giving effect to any such redemption, at least 50% of the original aggregate principal amount of the 2026 Senior Notes (including any additional 2026 Senior Notes) remains outstanding (unless all 2026 Senior Notes are redeemed concurrently) and such redemption occurs not less than 10 days nor more than 60 days prior notice to the holders of the 2026 Senior Notes. Debt issuance costs related to the 2026 Senior Notes comprised of discounts and commissions payable to the initial purchasers and third-party offering costs totaling $7.6 million and consent payments to noteholders of $4.5 million. Unamortized debt issuance costs for the 2026 Senior Notes at December 31, 2024 and 2023 were $4.1 million and $6.3 million, respectively. The net carrying amount of the 2026 Senior Notes as of December 31, 2024 and 2023 was $445.9 million and $443.7 million, respectively. The 2026 Senior Notes have not been registered under the Securities Act of 1933, as amended (“the Securities Act”), or the securities laws of any other jurisdiction. The 2026 Senior Notes were sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A and outside the U.S. pursuant to Regulation S of the Securities Act. Senior Notes due 2032 In August 2024, the Company’s subsidiaries Shift4 Payments, LLC and Shift4 Payments Finance Sub, Inc. (together, the “Issuers”) issued an aggregate of $1,100.0 million principal amount of 6.750% Senior Notes due 2032 (the “2032 Senior Notes”). The Company received the net proceeds, after deducting initial purchasers’ discounts and estimated offering expenses, of approximately $1,088.7 million from the 2032 Senior Notes offering. The 2032 Senior Notes mature on August 15, 2032, and accrue interest at a rate of 6.750% per year. Interest on the 2032 Senior Notes is payable semi-annually in arrears on each February 15 and August 15, commencing on February 15, 2025. Prior to August 15, 2027, the Issuers may redeem all or a portion of the 2032 Senior Notes at a redemption price equal to 100% of the principal amount of the 2032 Senior Notes, plus the applicable make-whole premium as provided in the indenture, plus accrued and unpaid interest, if any, to, but not including, the redemption date. At any time on or after August 15, 2027, the Issuers may redeem all or a portion of the 2032 Senior Notes at the redemption prices set forth in the indenture governing the 2032 Senior Notes, plus accrued and unpaid interest to, but not including, the redemption date. In addition, the Issuers may redeem up to 40% of the original aggregate principal amount of the 2032 Senior Notes at any time prior to August 15, 2027 at a redemption price of 106.750% of the principal amount of the 2032 Senior Notes to be redeemed, plus accrued and unpaid interest, if any, to the redemption date, using the net proceeds from certain equity offerings. The Issuers may make such redemption so long as, after giving effect to any such redemption, at least 50% of the original aggregate principal amount of the 2032 Senior Notes (including any additional 2032 Senior Notes) remains outstanding (unless all 2032 Senior Notes are redeemed concurrently) and such redemption is effected upon not less than 10 days nor more than 60 days prior notice to the holders of the 2032 Senior Notes. The 2032 Senior Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction. The 2032 Senior Notes were sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A and outside the U.S. pursuant to Regulation S of the Securities Act. Revolving Credit Facility Second Amended and Restated Revolving Credit Facility In September 2024, Shift4 Payments, LLC (the “Borrower”) entered into a Second Amended and Restated First Lien Credit Agreement (the “Credit Agreement”), providing for a $450.0 million senior secured revolving credit facility (“Revolving Credit Facility”), $112.5 million of which is available for the issuance of letters of credit. The Credit Agreement amended, restated and replaced the Borrower’s prior Amended and Restated First Lien Credit Agreement, entered into on January 29, 2021, as amended, and refinanced the $100.0 million revolving credit facility thereunder. The Company capitalized approximately $4.3 million of financing fees in connection with this refinancing. Loans incurred under the Revolving Credit Facility bear interest a rate per annum equal to, at the Borrower’s option, either (i) a term SOFR based rate (subject to a 0.0% floor), plus a margin of 2.00% per annum, or (ii) an alternate base rate (equal to the highest of the Federal Funds Effective Rate plus 0.50%, the term SOFR rate for an interest rate period of one month (subject to a 0.0% floor) plus 1.00%, and the prime rate announced by the administrative agent from time to time), plus a margin of 1.00% per annum. The Revolving Credit Facility matures on September 5, 2029. The Credit Agreement requires periodic interest payments until maturity on any outstanding amounts borrowed. In addition, the Borrower is required to pay a commitment fee under the Revolving Credit Facility in respect of the unutilized commitments thereunder at a rate of 0.25% per annum. The Borrower is also subject to customary letter of credit and agency fees. There were no borrowings and borrowing capacity on the Revolving Credit Facility was $450.0 million as of December 31, 2024. Restrictions and Covenants The 2025 Convertible Notes, 2026 Senior Notes, 2027 Convertible Notes, 2032 Senior Notes (collectively, the “Notes”) and Revolving Credit Facility include certain restrictions on the ability of Shift4 Payments, LLC to make loans, advances, or pay dividends to Shift4 Payments, Inc. As of December 31, 2024 and 2023, the Company was in compliance with all financial covenants under its debt agreements.

Fair Value Measurement

Fair Value Measurement	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement U.S. GAAP defines a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The Company determines the fair values of its assets and liabilities that are recognized or disclosed at fair value in accordance with the hierarchy described below. The following three levels of inputs may be used to measure fair value: • Level 1—Quoted prices in active markets for identical assets or liabilities; • Level 2—Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include items where the determination of fair value requires significant management judgment or estimation. The Company makes recurring fair value measurements of contingent liabilities arising from certain acquisitions using Level 3 unobservable inputs. Contingent liabilities included in the purchase price of an acquisition are based on achievement of specified performance metrics as defined in the purchase agreement. Acquisition-Related Contingent Consideration The Company’s acquisitions often include contingent consideration, or earnout, provisions. The total fair value of contingent consideration related to the acquisitions of Vectron, Finaro , and two other acquisitions as of December 31, 2024 was $26.2 million, of which $7.2 million is included in “Accrued expenses and other current liabilities” and $19.0 million is included within “Other noncurrent liabilities” on the Company’s Consolidated Balance Sheets. The balanc e as of December 31, 2024 is inclusive of the contingent consideration agreement Vectron was party to related to its purchase of Acardo. The ch ange in fair value of these liabilities is included in “Revaluation of contingent liabilities” on the Company’s Consolidated Statements of Operations. Each of these fair value measurements utilize Level 3 inputs, such as projected merchants acquired, projected revenues, discount rates and other subjective inputs. See Note 2 for further information on the contingent consideration for Vectron. Online Payments Group The Company entered into an earnout agreement with the former shareholders of Online Payments Group, not to exceed $60.0 million , with $30.0 million of the earnout payable as of September 2023 (“Tranche 1”) if key customers of Online Payments Group contribute a specified amount of revenue from September 29, 2022 to September 28, 2023 and the remaining $30.0 million payable as of September 2024 (“Tranche 2”) if key customers contribute a specified amount of revenue from September 29, 2022 to September 28, 2024. The fair value of the earnout was included in the initial purchase consideration and was revalued quarterly until the end of the earnout period as a fair value adjustment within “Revaluation of contingent liabilities” in the Company’s Consolidated Statements of Operations. Tranche 1 was fully earned and paid in 2023, and Tranche 2 was fully earned and paid in 2024. Both tranches were paid 50% in shares of the Company’s Class A common stock and 50% in cash. The table below provides a reconciliation of the beginning and ending balances for the Level 3 contingent liabilities: Year Ended December 31, 2024 Contingent Liabilities for Acquisitions Contingent Liabilities for Assets Acquired Total Contingent Liabilities Balance at beginning of period $ 32.2 $ 1.4 $ 33.6 Contingent consideration 22.8 — 22.8 Fair value adjustments 4.0 0.3 4.3 Impact of foreign exchange (1.6) — (1.6) Contingent liabilities that achieved earnout (31.2) (1.7) (32.9) Balance at end of period $ 26.2 $ — $ 26.2 Fair value adjustments for contingent liabilities for acquisitions are recorded within “ Revaluation of contingent liabilities The estimated fair value of the Company’s outstanding debt using quoted prices from over-the-counter markets, considered Level 2 inputs, was as follows. December 31, 2024 December 31, 2023 Carrying Fair Carrying Fair 2032 Senior Notes $ 1,086.5 $ 1,119.4 $ — $ — 2025 Convertible Notes 686.9 927.8 683.6 766.5 2027 Convertible Notes 626.0 684.0 623.5 593.2 2026 Senior Notes 445.9 443.2 443.7 438.2 Total $ 2,845.3 $ 3,174.4 $ 1,750.8 $ 1,797.9 (a) Carrying value excludes unamortized debt issuance costs related to the Revolving Credit Facility of $4.3 million and $0.6 million as of December 31, 2024 and 2023, respectively. The estimated fair value of the Company’s investments in non-marketable equity securities was $2.5 million and $62.2 million as of December 31, 2024 and 2023, respectively. During the fourth quarter of 2024, the Company sold $121.1 million of a non-marketable security. These non-marketable equity investments have no readily determinable fair values and are measured using the measurement alternative, which is defined as cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. Adjustments for these investments, if any, are recorded in “Gain on investments in securities” on the Company’s Consolidated Statements of Operations. The estimated fair value of the Company’s crypto settlement assets and crypto settlement liabilities was $5.7 million and $3.5 million as of December 31, 2024 and 2023, respectively. The Company has valued the assets and liabilities using quoted prices from active cryptocurrency exchanges for the underlying crypto assets, considered Level 2 inputs.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company holds an economic interest in Shift4 Payments, LLC and consolidates its financial position and results. The remaining ownership of Shift4 Payments, LLC not held by the Company is considered a noncontrolling interest. Shift4 Payments, LLC is treated as a partnership for income tax reporting and its members, including the Company, are liable for federal, state, and local income taxes based on their share of the LLC’s taxable income. In addition, Shift4 Payments, LLC wholly owns various U.S. and foreign subsidiaries which are taxed as corporations for tax reporting. Taxable income or loss from these subsidiaries is not passed through to Shift4 Payments, LLC. Instead, such taxable income or loss is taxed at the corporate level subject to the prevailing corporate tax rates. Components of income tax benefit (provision) consist of the following: Year Ended December 31, 2024 2023 2022 Current Federal $ (11.2) $ (0.7) $ (0.3) State (3.7) (0.4) — Foreign (11.0) (4.2) (2.0) Total current income tax benefit (provision) (25.9) (5.3) (2.3) Deferred Federal 252.0 5.5 0.9 State 65.9 2.3 1.0 Foreign 4.1 0.9 0.2 Total deferred income tax benefit (provision) 322.0 8.7 2.1 Total income tax benefit (provision) $ 296.1 $ 3.4 $ (0.2) A reconciliation of the U.S. statutory income tax rate to the Company’s effective income tax rate is as follows: Year Ended December 31, 2024 2023 2022 Federal statutory rate 21.0 % 21.0 % 21.0 % Noncontrolling interests/effect of pass-through entities (LLC income (loss)) 850.0 % (6.5 %) (3.3 %) State income taxes, net of federal benefit (250.0 %) 25.9 % (13.3 %) Permanent items 106.3 % 2.1 % 0.8 % Impacts of business combinations — % — % (7.4 %) Impacts of Recording Tax Receivable Agreement 262.5 % — % — % Change in fair value of contingent consideration — % 0.9 % (11.5 %) Foreign rate differential 450.0 % 0.4 % 1.7 % Unrecognized tax benefit — % — % 1.0 % Change in valuation allowance 18,100.0 % (47.4 %) 9.1 % Equity-based compensation 6.3 % 0.2 % 2.3 % Research and development tax credits 93.7 % — % — % U.S. taxation of worldwide subsidiaries, net of foreign tax credits (1,137.5 %) — % — % Other 4.0 % 0.6 % (0.2 %) Effective income tax rate 18,506.3 % (2.8 %) 0.2 % The following table sets forth the Company’s income (loss) before income taxes for its domestic and foreign operations for the years ended December 31, 2024, 2023, and 2022: December 31, 2024 2023 2022 Domestic $ (61.4) $ 110.0 $ 89.6 Foreign 59.8 9.5 (2.7) Income (loss) before income taxes $ (1.6) $ 119.5 $ 86.9 Details of the Company’s deferred tax assets and liabilities are as follows: December 31, 2024 2023 Deferred tax assets: Investment in Shift4 Payments, LLC $ 465.3 $ 249.4 Net operating loss and tax credits carryforward 84.0 87.6 Lease liabilities 5.5 1.7 Equity-based compensation 8.3 6.3 Accrued expenses 1.9 2.4 Other 19.2 6.4 Subtotal 584.2 353.8 Valuation allowance (137.4) (334.1) Total deferred tax assets 446.8 19.7 Deferred tax liabilities: Intangible assets (100.4) (38.6) Fixed assets (1.3) (2.1) Right-of-use assets (4.9) (2.0) Other liabilities (4.0) (5.0) Total deferred tax liabilities (110.6) (47.7) Net deferred tax asset (liability) $ 336.2 $ (28.0) The Company has a deferred tax asset for the difference between the financial reporting and the tax basis of its investment in Shift4 Payments, LLC. The deferred tax asset above considers the iterative impact of the Tax Receivable Agreement (“TRA”) liability. In prior periods, the Company maintained a full valuation allowance on the net deferred tax assets of Shift4 Payments, Inc. which are comprised primarily of differences in the book and tax basis of Shift4 Payments, Inc.’s investments in Shift4 Payments, LLC. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income sufficient to utilize the deferred tax assets on income tax returns. In prior periods, management had determined that its net deferred tax assets were not more likely than not going to be realized due to existence of significant negative evidence that the Company was in a three-year cumulative loss position. Considering this and other factors, Shift4 Payments, Inc.’s full valuation allowance was maintained through the period ended June 30, 2024. During 2024, management assessed the realizability of deferred tax assets and concluded that it is more likely than not that its deferred tax assets will be realized and that a full valuation allowance is no longer required. The assessment included the fact that as of December 31, 2024, the Company is no longer in a three-year cumulative loss position and is projecting sufficient income in future periods to realize its deferred tax assets. The Company continues to maintain a valuation allowance on the portion of deferred tax assets that require capital gains income because there are no current projections of capital gains income at this time. Accordingly, a tax benefit of $289.0 million was recognized during the year ended December 31, 2024 relating to the release of the valuation allowance associated with the Company’s deferred tax assets and recording additional deferred tax assets related to the TRA liability. As of December 31, 2024, the Company h as $279.3 million f ederal and $341.2 million s tate net operating loss carryforwards, which are expected to expire on various dates as follows. The federal net operating loss carryforwards of $187.0 million gene rated in tax years after 2017 have an unlimited carryforward period, while the remainin g $92.3 million gene rated in earlier tax years have a twenty 2036 and 2037. T he Company’s state net operating loss carryforwards are available to reduce future taxable income, which expire at various times t hrough 2042. Uncertain Tax Positions The effects of uncertain tax positions are recognized in the consolidated financial statements if these positions meet a “more-likely-than-not” threshold. For those uncertain tax positions that are recognized in the consolidated financial statements, liabilities are established to reflect the portion of those positions it cannot conclude “more-likely-than-not” to be realized upon ultimate settlement. The Company’s policy is to recognize interest and penalties related to unrecognized tax benefits within “Income tax benefit (expense)” in the Company’s Consolidated Statements of Operations. Accrued interest and penalties, if any, are included within “Deferred tax liability” in the Company’s Consolidated Balance Sheets. As of December 31, 2024 and 2023, $10.4 million and $4.7 million, respectively, of uncertain tax positions were recognized within “Other noncurrent liabilities” in the Company’s Consolidated Balance Sheets, which were primarily recognized in conjunction with acquisitions. Below is a tabular reconciliation of the total amounts of unrecognized tax benefits: Year Ended December 31, 2024 2023 2022 Beginning balance $ 4.7 $ 8.0 $ — Increase related to current year tax positions 0.7 0.8 0.9 Increase attributable to positions acquired through business combinations 6.0 0.9 7.1 Decrease related to prior year tax positions (0.2) — — Decrease attributable to measurement period adjustments — (5.0) Decrease attributable to statute of limitation expirations (0.8) — — Ending balance $ 10.4 $ 4.7 $ 8.0 Total amount of interest and penalties recognized in the $ 0.6 $ 0.7 $ 0.1 Total amount of interest and penalties recognized in the $ 2.0 $ 1.9 $ 1.8 All of the unrecognized tax benefits reflected in the above table would affect the effective tax rate, if recognized. The Company files income tax returns as required by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company may be subject to examination by federal and certain state and local tax authorities. As of December 31, 2024, the Company’s federal and state and local income tax yea rs 2022 th rough 2024 remain open and are subject to examination. Shift4 Payments, LLC is currently under examination by the Internal Revenue Service for the 2020 tax year and certain US corporate subsidiaries are under examination for the 2022 tax year. The Company's open tax years by major taxing jurisdictions are as follows: Jurisdiction Open Tax Years United States 2021 - 2024 Israel 2019 - 2024 Lithuania 2020 - 2024 Malta 2019 - 2024 Switzerland 2023 - 2024 Tax Receivable Agreement The Company expects to obtain an increase in its share of the tax basis in the net assets of Shift4 Payments, LLC as LLC Interests are redeemed from or exchanged by the Continuing Equity Owners, at the option of the Company, determined solely by the Company’s independent directors. The Company intends to treat any redemptions and exchanges of LLC Interests as direct purchases of LLC Interests for U.S. federal income tax purposes. These increases in tax basis may reduce the amounts that it would otherwise pay in the future to various tax authorities. In connection with the Company’s initial public offering in June 2020 and certain organizational transactions that the Company effected in connection with it, the Company entered into the TRA with the Continuing Equity Owners. The TRA provides for the payment by Shift4 Payments, Inc. of 85% of the amount of any tax benefits the Company actually realizes, or in some cases is deemed to realize, as a result of (i) increases in the Company’s share of the tax basis in the net assets of Shift4 Payments, LLC resulting from any redemptions or exchanges of LLC Interests, (ii) tax basis increases attributable to payments made under the TRA, and (iii) deductions attributable to imputed interest pursuant to the TRA. The Company expects to benefit from the remaining 15% of any of cash savings that it realizes. As of December 31, 2024 and 2023, the Company recognized a TRA liability of $365.5 million and $5.1 million, respectively, after concluding it was probable that, based on estimates of future taxable income, the Company will realize tax benefits associated with the TRA. A payment of $1.7 million was made to the Continuing Equity Owners pursuant to the TRA during the year ended December 31, 2024. No payments were made to the Continuing Equity Owners pursuant to the TRA during the years ended December 31, 2023 or 2022. The estimation of liability under the TRA is by its nature imprecise and subject to significant assumptions regarding the amount, character, and timing of the taxable income of Shift4 Payments, Inc. in the future. Changes in tax laws or rates could also materially impact the estimated liability. If Rook were to exchange any of its LLC Interests subsequent to December 31, 2024, such exchanges could generate additional deferred tax assets and TRA liability. As of December 31, 2024, the estimated impact of the exchange of all of Rook’s LLC Interests was an additional deferred tax asset of approximately $526.1 million and a TRA liability of approximately $447.2 million. Organisation for Economic Co-operation and Development (“OECD”) - Pillar Two In December 2021, the Organisation for Economic Co-operation and Development issued model rules for a new global minimum tax framework (“Pillar Two”), and various governments around the world have passed, or are in the process of passing, legislation on this. Certain Pillar Two rules take effect in 2024 and 2025, depending on whether a particular jurisdiction has integrated the legislation into local law. The Company is continuing to monitor these impacts on its operating footprint and anticipates an increase in income tax expense associated with jurisdictions that have implemented an income inclusion rule or a Qualifying Minimum Top-up Tax (“QDMTT”). The Company is continuing to monitor and assess the impacts of rules set to take effect in 2025, such as the under-taxed profits rule. The impacts of Pillar Two to the Company are subject to change based on expansion and future acquisitions within jurisdictions that the Company does not currently operate.

Lease Agreements

Lease Agreements	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Lease Agreements	Lease Agreements As Lessee The Company has operating leases primarily for office and warehouse space. Most leases are not cancellable prior to their expiration. The Company accounts for leases in accordance with ASC 842 by recording right-of-use assets and lease liabilities. The right-of-use assets represent the Company’s right to use underlying assets for the lease term and the lease liability represents the Company's obligation to make lease payments under the leases. The Company determines if an agreement is or contains a lease at contract inception and exercises judgment and applies certain assumptions when determining the discount rate and lease term. ASC 842 requires a lessee to record a lease liability based on the discounted unpaid lease payments using the interest rate implicit in the lease or, if the rate cannot be readily determined, the incremental borrowing rate. Generally, the Company does not have knowledge of the rate implicit in the lease and, therefore, uses its incremental borrowing rate for a lease. The lease term includes the non-cancelable period of the lease plus any additional periods covered by an option to extend that the Company is reasonably certain to exercise. The expected future payments related to leases with initial non-cancellable lease terms in excess of one year at December 31, 2024 are as follows: 2025 $ 12.3 2026 10.8 2027 8.6 2028 5.6 2029 3.1 Thereafter 4.2 Total lease payments 44.6 Less: Interest (4.3) Present value of minimum payments $ 40.3 Total operating lease expense, which is included in “General and administrative expenses” in the Company’s Consolidated Statements of Operations, was $14.0 million, $10.1 million, and $6.6 million for the years ended December 31, 2024, 2023 and 2022, respectively. Included in total operating lease expense for the years ended December 31, 2024 and 2023 is $2.5 million and $0.9 million, respectively, of expense recognized on short-term leases which were not capitalized under ASC 842. Included in total operating lease expense for the years ended December 31, 2024 and 2023 is $2.5 million and $2.0 million, respectively, of variable expense. Supplemental balance sheet information related to leases was as follows: December 31, 2024 December 31, 2023 Weighted average remaining in lease term (in years): 4.5 4.0 Weighted average discount rate 5.1 % 5.1 % Operating lease payments included in operating cash f lows were $10.3 million, $7.2 million and $5.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. Non-cash additions to operating lease assets were $11.4 million, $6.2 million and $6.1 million for the years ended December 31, 2024, 2023 and 2022, respectively. As Lessor The Company provides hardware, including terminals and point-of-sale equipment, to its merchants under operating leases as the lessor. The Company’s operating leases generally include options to extend the contract for successive one-year periods. Extension options are not included in the determination of lease income unless, at lease inception, it is reasonably certain that the option will be exercised. The Company’s operating leases generally do not include purchase options. Lease payments received are recognized as income on a straight-line basis over the term of the agreement in accordance with ASC 606 and classified as gross revenue on the Company’s Consolidated Statements of Operations.
Lease Agreements	Lease Agreements As Lessee The Company has operating leases primarily for office and warehouse space. Most leases are not cancellable prior to their expiration. The Company accounts for leases in accordance with ASC 842 by recording right-of-use assets and lease liabilities. The right-of-use assets represent the Company’s right to use underlying assets for the lease term and the lease liability represents the Company's obligation to make lease payments under the leases. The Company determines if an agreement is or contains a lease at contract inception and exercises judgment and applies certain assumptions when determining the discount rate and lease term. ASC 842 requires a lessee to record a lease liability based on the discounted unpaid lease payments using the interest rate implicit in the lease or, if the rate cannot be readily determined, the incremental borrowing rate. Generally, the Company does not have knowledge of the rate implicit in the lease and, therefore, uses its incremental borrowing rate for a lease. The lease term includes the non-cancelable period of the lease plus any additional periods covered by an option to extend that the Company is reasonably certain to exercise. The expected future payments related to leases with initial non-cancellable lease terms in excess of one year at December 31, 2024 are as follows: 2025 $ 12.3 2026 10.8 2027 8.6 2028 5.6 2029 3.1 Thereafter 4.2 Total lease payments 44.6 Less: Interest (4.3) Present value of minimum payments $ 40.3 Total operating lease expense, which is included in “General and administrative expenses” in the Company’s Consolidated Statements of Operations, was $14.0 million, $10.1 million, and $6.6 million for the years ended December 31, 2024, 2023 and 2022, respectively. Included in total operating lease expense for the years ended December 31, 2024 and 2023 is $2.5 million and $0.9 million, respectively, of expense recognized on short-term leases which were not capitalized under ASC 842. Included in total operating lease expense for the years ended December 31, 2024 and 2023 is $2.5 million and $2.0 million, respectively, of variable expense. Supplemental balance sheet information related to leases was as follows: December 31, 2024 December 31, 2023 Weighted average remaining in lease term (in years): 4.5 4.0 Weighted average discount rate 5.1 % 5.1 % Operating lease payments included in operating cash f lows were $10.3 million, $7.2 million and $5.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. Non-cash additions to operating lease assets were $11.4 million, $6.2 million and $6.1 million for the years ended December 31, 2024, 2023 and 2022, respectively. As Lessor The Company provides hardware, including terminals and point-of-sale equipment, to its merchants under operating leases as the lessor. The Company’s operating leases generally include options to extend the contract for successive one-year periods. Extension options are not included in the determination of lease income unless, at lease inception, it is reasonably certain that the option will be exercised. The Company’s operating leases generally do not include purchase options. Lease payments received are recognized as income on a straight-line basis over the term of the agreement in accordance with ASC 606 and classified as gross revenue on the Company’s Consolidated Statements of Operations.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company has a service agreement with Jared Isaacman, the Company’s Chief Executive Officer and founder (“Founder”), including access to aircrafts and a property. Total expense for this service, which is included in “General and administrative expenses” in the Company’s Consolidated Statements of Operations, was $1.0 million for each of the years ended December 31, 2024, 2023 and 2022. There were no amounts outstanding at December 31, 2024 or 2023. In addition, during the year ended December 31, 2024, the Company made $19.8 million of distributions related to income taxes paid on behalf of Rook, which are included in “Distributions to noncontrolling interests” in the Company’s Consolidated Statements of Cash Flows. In November 2021, the Company implemented a one-time discretionary equity award program for non-management employees. The Founder agreed to fund 50% of this program through a contribution of shares of his Class C common stock. During the year ended December 31, 2024, 99,269 shares of the Founder’s Class C common stock were contributed to fund the awards that vested. As of December 31, 2024, the expected remaining contribution from the Founder totaled 468,997 shares of his Class C common stock. Vesting of the awards is subject to the continued employment of non-management employees. Rook has entered into margin loan agreements, pursuant to which, in addition to other collateral, it has pledged LLC Interests and shares of the Company’s Class A and Class B common stock (collectively, “Rook Units”) to secure a margin loan. If Rook were to default on its obligations under the margin loan and fail to cure such default, the lender would have the right to exchange and sell up to 15,000,000 Rook units to satisfy Rook’s obligation. In September 2021, the Founder, through a wholly-owned special purpose vehicle (“SPV”), entered into two variable prepaid forward contracts (“VPF Contracts”) with an unaffiliated dealer (“Dealer”), one covering approximately 2.18 million shares of the Company’s Class A common stock and the other covering approximately 2.26 million shares of the Company’s Class A common stock. The VPF Contracts both fully settled pursuant to their terms on specified dates in June, July, August and September 2024, at which time the actual number of shares of the Company’s Class A common stock to be delivered by the SPV was determined based on the price of the Company’s Class A common stock on such dates relative to the forward floor price of approximately $66.424 per share and the forward cap price of approximately $112.09 per share for the contract covering approximately 2.18 million shares of the Company’s Class A common stock, and to the forward floor price of $66.424 per share and the forward cap price of approximately $120.39 per share for the contract covering approximately 2.26 million shares of the Company’s Class A common stock, with the aggregate number not to exceed approximately 4.44 million shares, which is the aggregate number of shares of Company’s Class B common stock LLC interests pledged by Rook to secure its obligations under the contracts. During the year ended December 31, 2024, 4,030,855 shares of the Company’s Class B common stock owned by the SPV were effectively converted to Class A common stock and delivered to the SPV through the VPF contracts.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, the Company may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these, or other matters, may arise from time to time that may harm the Company’s business. On August 18, 2023, a shareholder filed a putative securities class action against the Company and certain of its current and former executive officers in the U.S. District Court for the Eastern District of Pennsylvania (the “Court”), captioned O’Meara v. Shift4 Payments, Inc., et al., Case No. 5:23-cv-03206-JFL (the “O’Meara Action”). Plaintiff O’Meara seeks to represent purchasers of the Company’s securities between November 10, 2021 and April 18, 2023. On October 13, 2023, another shareholder represented by the same law firm as O’Meara filed a similar complaint against the same defendants in the Court, captioned Baer v. Shift4 Payments, Inc., et al., Case No. 5:23-cv-03969-JFL (the “Baer Action”). Plaintiff Baer seeks to represent purchasers of the Company’s securities between June 5, 2020, and April 18, 2023. Both complaints allege violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, based on allegedly false and misleading statements about the Company’s business, operations, and compliance policies, and both seek unspecified damages. On October 19, 2023, Plaintiff Baer filed a motion to consolidate the O’Meara Action and the Baer Action and appoint Baer as lead plaintiff. On November 3, 2023, the Court consolidated the O’Meara and Baer Actions and appointed Plaintiff Baer as the lead plaintiff in the consolidated action. Lead Plaintiff Baer and Plaintiff O’Meara filed an amended complaint on January 5, 2024, purportedly brought on behalf of purchasers of the Company’s securities between June 5, 2020 and April 18, 2023, and alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, based on allegedly false and misleading statements about the Company’s business, operations, and compliance policies. The Company moved to dismiss the consolidated amended complaint on February 19, 2024. The Court granted the Company’s motion to dismiss on August 14, 2024, with leave to amend. Lead Plaintiff Baer filed a second amended complaint on September 3, 2024, alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder purportedly on behalf of purchasers of the Company’s securities between June 5, 2020 and October 21, 2022. The Company filed a motion to dismiss on October 1, 2024. On January 22, 2025, the Court granted defendants’ motion to dismiss with prejudice. Certain legal and regulatory proceedings may be based on complex claims involving substantial uncertainties and unascertainable damages. In accordance with ASC 450, when the Company determines that a loss is both probable and reasonably estimable, the Company records a liability, and, if the liability is material, discloses the amount of the liability reserved. As of December 31, 2024, the Company determined that it is not possible to determine the probability of loss or estimate damages for its legal proceedings, if any, and therefore, the Company has not established reserves for these proceedings, if any. Given that such proceedings are subject to uncertainty, there can be no assurance that such legal proceedings, either individually or in the aggregate, will not have a material adverse effect on our business, results of operations, financial condition or cash flows. The Company is currently not aware of any legal proceedings or claims that the Company believes could have a material adverse effect on its business, financial condition or operating results.

Stockholders_ Equity

Stockholders’ Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Stockholders’ Equity	Stockholders’ Equity Stock Repurchases In May 2024, the Board authorized a stock repurchase program (the “May 2024 Program”), pursuant to which the Company is authorized to repurchase up to $500.0 million shares of its Class A common stock through December 31, 2025. The May 2024 Program replaced the Company’s prior stock repurchase program from December 2023. Repurchases under the May 2024 Program may be made in the open market, in privately negotiated transactions or otherwise, with the amount and timing of repurchases depending on market conditions and corporate needs. Open market repurchases will be structured to occur within the pricing and volume requirements of Rule 10b-18. The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its shares pursuant to the May 2024 Program. The May 2024 Program does not obligate the Company to acquire any particular amount of common stock. The May 2024 Program may be extended, modified, suspended or discontinued at any time at the Company’s discretion. During the year ended December 31, 2024, the Company repurchased 1,605,488 shares of Class A common stock for $145.9 million , including commissions paid, at an average price paid of $90.83

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2024
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests Shift4 Payments, Inc. is the sole managing member of Shift4 Payments, LLC, and consolidates the financial results of Shift4 Payments, LLC. The noncontrolling interests balance represents the economic interest in Shift4 Payments, LLC held by Rook, which amounted to $187.4 million and $215.1 million as of December 31, 2024 and 2023, respectively. The following table summarizes the ownership of LLC Interests in Shift4 Payments, LLC: December 31, 2024 December 31, 2023 LLC Interests Ownership % LLC Interests Ownership % Shift4 Payments, Inc. (a) 69,257,131 77.8 % 66,100,484 73.5 % Rook 19,801,028 22.2 % 23,831,883 26.5 % Total 89,058,159 100.0 % 89,932,367 100.0 % (a) December 31, 2023 included 3.7 million shares related to the acquisition of Finaro that had been committed but not issued. These shares were issued over the course of 2024, in accordance with the terms of the acquisition. Rook has the right to require the Company to redeem its LLC Interests for, at the option of the Company, determined solely by the Company’s independent directors, newly-issued shares of Class A common stock on a one-for-one basis or a cash payment equal to a volume weighted average market price of one share of Class A common stock for each LLC Interest redeemed. In connection with the exercise of the redemption or exchange of LLC Interests, (1) Rook will be required to surrender a number of shares of Class B common stock, which the Company will cancel for no consideration on a one-for-one basis with the number of LLC Interests so redeemed or exchanged and (2) Rook will surrender LLC Interests to Shift4 Payments, LLC for cancellation.

Equity-based Compensation

Equity-based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Equity-based Compensation	Equity-based Compensation The Company recognized equity-based compensation expense of $65.5 million, $57.4 million and $49.6 million for the years ended December 31, 2024, 2023 and 2022, respectively. 2020 Incentive Award Plan The Company’s 2020 Incentive Award Plan, as amended and restated in June 2022 (the “Restated Equity Plan”), provides for the grant of RSUs, PRSUs, stock options, dividend equivalent awards, stock payments, stock appreciation rights, and other stock or cash awards. The number of shares available for issuance is subject to an annual increase on the first day of each year beginning in 2023 and ending in and including 2032, equal to the lesser of (1) 2% of the shares outstanding (on an as-converted basis, taking into account any and all securities convertible into, or exercisable, exchangeable or redeemable for, shares of Class A common stock (including LLC Interests of Shift4 Payments, LLC)) on the last day of the immediately preceding fiscal year and (2) such smaller number of shares as determined by the Board. As of December 31, 2024, a maximum of 1,786,598 shares of the Company’s Class A common stock were available for issuance under the Restated Equity Plan. The Company expects to make 1,824,550 additional shares of Class A common stock available for issuance under the Restated Equity Plan in the first quarter of 2025. RSUs and PRSUs RSUs and PRSUs represent the right to receive shares of the Company’s Class A common stock at a specified date in the future. The following table presents the expected number of shares that are expected to vest in each year as of December 31, 2024, subject to continued service: 2025 2026 2027 2028 Total Granted in 2021 196,695 198,090 — — 394,785 Granted in 2022 190,507 65,225 65,818 — 321,550 Granted in 2023 300,584 229,430 121,896 16,850 668,760 Granted in 2024 315,854 297,924 167,559 2,911 784,248 Total 1,003,640 790,669 355,273 19,761 2,169,343 The RSU and PRSU activity was as follows: Number of Weighted Average Grant Date Unvested balance at December 31, 2021 2,402,694 $ 43.28 Granted 1,143,956 45.20 Vested (825,720) 35.51 Forfeited or cancelled (255,575) 54.75 Unvested balance at December 31, 2022 2,465,355 47.57 Granted 1,415,102 63.87 Vested (1,096,241) 44.19 Forfeited or cancelled (439,006) 55.22 Unvested balance at December 31, 2023 2,345,210 57.35 Granted 1,160,816 67.22 Vested (1,021,787) 58.05 Forfeited or cancelled (314,896) 58.53 Unvested balance at December 31, 2024 2,169,343 $ 62.13 The grant date fair value of RSUs and PRSUs subject to continued service or those that vest immediately was determined based on the price of the Company’s Class A common stock on the grant date.

Basic and Diluted Net Income pe

Basic and Diluted Net Income per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Basic and Diluted Net Income per Share	Basic and Diluted Net Income per Share Basic net income per share has been computed by dividing net income attributable to common shareholders by the weighted average number of shares of common stock outstanding for the same period. Shares issued during the period and shares reacquired during the period are weighted for the portion of the period in which the shares were outstanding. Diluted net income per share has been computed in a manner consistent with that of basic net income per share while giving effect to all shares of potentially dilutive common stock that were outstanding during the period. The following table presents the calculation of basic and diluted net income per share under the two-class method. Year Ended December 31, 2024 2023 2022 Net income $ 294.5 $ 122.9 $ 86.7 Less: Net income attributable to noncontrolling interests (64.9) (36.7) (11.6) Adjustment to net income attributable to common stockholders (2.4) — — Net income attributable to common stockholders - basic 227.2 86.2 75.1 Reallocation of net income from noncontrolling interests to common stockholders due to effect of dilutive securities 50.3 0.7 11.6 Net income attributable to common stockholders - diluted $ 277.5 $ 86.9 $ 86.7 Numerator - allocation of net income attributable to common stockholders: Net income allocated to Class A common stock - basic $ 221.6 $ 83.4 $ 69.9 Reallocation of net income from noncontrolling interests to common stockholders due to effect of dilutive securities 50.8 0.7 12.7 Net income allocated to Class A common stock - diluted $ 272.4 $ 84.1 $ 82.6 Net income allocated to Class C common stock - basic $ 5.6 $ 2.8 $ 5.2 Reallocation of net income from noncontrolling interests to common stockholders due to effect of dilutive securities (0.5) — (1.1) Net income allocated to Class C common stock - diluted $ 5.1 $ 2.8 $ 4.1 Denominator: Weighted average shares of Class A common stock outstanding - basic (a) 66,009,448 57,738,871 52,303,968 Effect of dilutive securities: LLC Interests (b) 22,160,725 — 26,002,825 RSUs 1,684,179 1,112,793 596,944 Contingent shares — 196,686 — Weighted average shares of Class A common stock outstanding - diluted 89,854,352 59,048,350 78,903,737 Weighted average shares of Class C common stock outstanding - basic and diluted 1,668,826 1,942,054 3,864,579 Net income per share - Basic: Class A common stock $ 3.36 $ 1.45 $ 1.34 Class C common stock $ 3.36 $ 1.45 $ 1.34 Net income per share - Diluted: Class A common stock $ 3.03 $ 1.43 $ 1.05 Class C common stock $ 3.03 $ 1.43 $ 1.05 (a) For the years ended December 31, 2023 and 2022, included 3,741,398 and 78,285 shares that had been committed but not issued as of December 31, 2023 and 2022, respectively. Committed but not issued shares as of December 31, 2023 primarily relate to the acquisition of Finaro. (b) For the year ended December 31, 2023, 24,256,531 LLC Interests were excluded from the calculation of diluted net income per share as the effect would be anti-dilutive. Diluted EPS was computed using the treasury stock method for RSUs and the if-converted method for convertible instruments. For the years ended December 31, 2024, 2023, and 2022, the Company has excluded from the calculation of diluted net income per share the effect of the following: • the conversion of the 2025 Convertible Notes and 2027 Convertible Notes, as the weighted average sales price of the Company’s Class A common stock during each year was less than the conversion price, per the terms of each respective agreement, and •

Segments

Segments	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segments	Segments Operating segments are defined as components of an enterprise for which discrete financial information is available that is evaluated regularly by the Chief Operating Decision Maker (“CODM”) for the purposes of allocating resources and evaluating financial performance. The Company’s CODM is the chief executive officer, who reviews financial information on a consolidated level for purposes of allocating resources and evaluating financial performance, and as such, the Company’s operations constitute one operating segment and one reportable segment. The principal financial metric reviewed by the CODM on a monthly basis is consolidated net income. This metric is compared to prior periods and to the Company’s internal forecasts and budgets for the purposes of allocating resources and evaluating financial performance. The Company’s revenue is comprised primarily of payments-based revenue which includes fees for payment processing and gateway services. Payment processing fees are primarily driven as a percentage of payment volume. No single customer accounted for more than 10% of the Company’s revenue during the years ended December 31, 2024, 2023 and 2022. The following table presents a disaggregation of the Company’s consolidated net income: Year Ended December 31, (in millions) 2024 2023 2022 Payments-based revenue $ 2,990.1 $ 2,386.0 $ 1,857.1 Subscription and other revenues 340.5 178.8 136.5 Network fees* (1,976.2) (1,624.4) (1,266.1) Other costs of sales* (exclusive of depreciation of equipment under lease) (381.3) (252.6) (257.3) General and administrative expenses: Employee and other general and administrative expenses* (368.7) (251.2) (200.1) Equity-based compensation* (67.9) (59.1) (50.4) Rent, office, occupancy and equipment expenses* (22.9) (19.0) (16.9) Revaluation of contingent liabilities (4.0) (23.1) 36.6 Depreciation and amortization expense* (a) (199.5) (153.8) (96.5) Impairment of intangible assets — (18.6) — Professional expenses* (41.4) (33.1) (33.3) Advertising and marketing expenses* (21.7) (15.1) (14.9) Interest income 33.7 31.9 10.8 Other income (expense), net 1.8 (3.9) 0.5 Gain on investments in securities 66.7 12.2 15.1 Change in TRA liability (289.0) (3.4) (1.7) Interest expense* (61.8) (32.1) (32.5) Income tax benefit (expense)* 296.1 3.4 (0.2) Net income $ 294.5 $ 122.9 $ 86.7 * Denotes a significant segment expense reviewed by the CODM. (a) Depreciation and amortization expense includes depreciation of equipment under lease of $54.4 million, $35.3 million, and $28.4 million for the years ended December 31, 2024, 2023, and 2022, respectively. Geographical Information The following table presents a disaggregation of the Company’s revenue by geography: Year Ended December 31, (in millions) 2024 2023 2022 U.S. $ 2,770.7 $ 2,463.7 $ 1,985.6 International 559.9 101.1 8.0 Gross revenue $ 3,330.6 $ 2,564.8 $ 1,993.6 The following table summarizes long-lived assets based on geography, which consist of Equipment for lease, net, Property, plant and equipment, net, and ROU assets: As of December 31, (in millions) 2024 2023 2022 U.S. $ 205.2 $ 169.2 $ 122.5 International 24.0 5.3 — Total long-lived assets $ 229.2 $ 174.5 $ 122.5

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On February 16, 2025, the Company entered into a Transaction Agreement (the “Transaction Agreement”) with Global Blue Group Holding AG, a stock corporation incorporated under the laws of Switzerland (“Global Blue”). Capitalized terms used but not defined herein shall have the meaning ascribed to such terms in the Transaction Agreement. Pursuant to the Transaction Agreement, and upon the terms and subject to the conditions set forth therein, the Company has agreed to file with the commercial register of the Canton of Zurich the documentation for the formation of a new wholly-owned Swiss limited liability company (“Merger Sub”), and following such registration of Merger Sub, cause Merger Sub to commence as promptly as reasonably practicable (but in no event later than 25 business days following the date of the Transaction Agreement), a tender offer (the “Offer”) to acquire all of the outstanding (i) registered ordinary shares, nominal value of CHF 0.01 per share, of Global Blue (the “Global Blue Common Shares”), at a price per share equal to $7.50 (the “Common Shares Consideration”), (ii) registered series A convertible preferred shares, nominal value of CHF 0.01 per share, of Global Blue (the “Global Blue Series A Shares”), at a price per share equal to $10.00, (iii) registered series B convertible preferred shares, nominal value of CHF 0.01 per share, of Global Blue (the “Global Blue Series B Shares”, and together with the Global Blue Common Shares and the GB Series A Shares, the “Global Blue Shares”), at a price per share equal to $11.81. Pursuant to the Transaction Agreement, Merger Sub’s obligation (and the Company’s obligation to cause Merger Sub) to accept for payment and pay for any Global Blue Shares tendered pursuant to the Offer is subject to customary conditions set forth therein, including Annex C thereto. Following the completion of the Offer and provided that at such time the Company directly or indirectly has acquired or controls at least 90% of the then outstanding Global Blue Shares (excluding Global Blue Shares held by Global Blue), the Company and Global Blue intend that, in accordance with the laws of Switzerland, and a merger agreement (the “Merger Agreement”) to be entered into between Merger Sub and Global Blue following the Acceptance Time, Merger Sub and Global Blue will consummate a statutory squeeze-out merger pursuant to which Global Blue will be merged with and into Merger Sub in accordance with Article 8 (2) of the Swiss Merger Act, and Merger Sub will continue as the surviving entity (the “Merger”). Tender and Support Agreements On February 16, 2025, in connection with the Transaction Agreement, the Company entered into Tender and Support Agreements (each a “Support Agreement” and collectively, the “Support Agreements”) with certain shareholders of Global Blue (each, a “Supporting Shareholder”, and together, the “Supporting Shareholders”), pursuant to which each Supporting Shareholder agreed, among other things, to tender its Global Blue Shares in the Offer and vote its Global Blue Shares at any meeting of the shareholders of Global Blue (i) for, among other things, the approval and adoption of the Board Modification and any other proposal required for the consummation of the transactions contemplated by the Transaction Agreement, (ii) against any proposal or motion that would reasonably be expected to (A) directly result in a breach of any covenant, representation or warranty or any other obligation or agreement of Global Blue contained in the Transaction Agreement, or (B) result in any conditions to the Offer set forth in Annex C of the Transaction Agreement not being satisfied prior to 5:00 p.m., New York City time on September 30, 2025 (or February 16, 2026 if such end date is extended pursuant to the Transaction Agreement), (iii) against any change in the Global Blue Board (other than the Board Modification or in the event of a director’s death or resignation, to fill the vacancy created thereby) and (iv) against any Company Takeover Proposal and against any other action, agreement or transaction involving Global Blue that would reasonably be expected to materially impede, materially delay or prevent the consummation of the Offer. As of February 16, 2025, the Supporting Shareholders owned an aggregate of approximately 90% of the Global Blue Shares. Debt Commitment Letter On February 16, 2025, in connection with the Transaction Agreement, Shift4 Payments, LLC entered into a commitment letter with Goldman Sachs Bank USA (“GS”), pursuant to which GS has committed to (i) provide Shift4 Payments, LLC with 364-day bridge loan facilities in an aggregate principal amount of $1.795 billion (the “Bridge Facilities”), consisting of (x) a senior secured 364-day bridge loan facility in an aggregate principal amount of $1.0 billion (the “Senior Secured Bridge Facility”) and (y) a senior unsecured 364-day bridge loan facility in an aggregate principal amount of $795.0 million (the “Senior Unsecured Bridge Facility”), in each case, subject to customary conditions, and (ii) to backstop an amendment to, or replacement of, Shift4 Payments, LLC’s existing $450.0 million senior secured revolving credit facility (the “Backstop Revolving Facility” and, together with the Bridge Facilities, collectively, the “Facilities”) in order to, among other things, permit the consummation of the transactions contemplated by the Transaction Agreement, the incurrence of the Bridge Facilities and any other permanent financing issued in lieu thereof or to refinance the loans thereunder, in each case, subject to customary conditions. The Facilities are available together with cash on hand to, among other things, finance the consideration payable by Shift4 and its subsidiaries under the Transaction Agreement, refinance certain indebtedness of GB and its subsidiaries, and to pay costs, fees and expenses in connection with the Facilities and the transactions contemplated by the Transaction Agreement. Prior to the funding thereof, Shift4 Payments, LLC may, at its election, reallocate the commitments under the Bridge Facilities among the Senior Secured Bridge Facility and the Senior Unsecured Bridge Facility. The consummation of the Offer and the Merger are not subject to any financing condition.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 229.6	$ 86.2	$ 75.1

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
	Dec. 31, 2024 shares	Dec. 31, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Taylor Lauber [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On November 21, 2024, Taylor Lauber, our President, entered into a new trading plan pursuant to Rule 10b5-1 of the Exchange Act. Mr. Lauber’s Rule 10b5-1 trading plan provides for the sale from time to time of a maximum of 20,000 shares of our Class A common stock pursuant to the terms of the plan. Mr. Lauber’s Rule 10b5-1 trading plan expires on December 31, 2025, or earlier if all transactions under the trading arrangement are completed. The trading arrangement is intended to satisfy the affirmative defense of Rule 10b5-1(c).
Name	Taylor Lauber
Title	President
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 21, 2024
Expiration Date	December 31, 2025
Arrangement Duration	405 days
Aggregate Available	20,000	20,000
Karen Roter Davis [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On December 10, 2024, Karen Roter Davis, a member of our Board, entered into a new trading plan pursuant to Rule 10b5-1 of the Exchange Act. Ms. Davis’ Rule 10b5-1 trading plan provides for the sale from time to time of a maximum of 750 shares of our Class A common stock and 2,757 shares of Ms. Davis’ restricted stock unit awards, less any shares to be withheld for tax, pursuant to the terms of the plan. Ms. Davis’ Rule 10b5-1 trading plan expires on December 31, 2025, or earlier if all transactions under the trading arrangement are completed. The trading arrangement is intended to satisfy the affirmative defense of Rule 10b5-1(c).
Name	Karen Roter Davis
Title	member of our Board
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 10, 2024
Expiration Date	December 31, 2025
Arrangement Duration	387 days
Sarah Goldsmith-Grover [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On December 13, 2024, Sarah Goldsmith-Grover, a member of our Board, entered into a new trading plan pursuant to Rule 10b5-1 of the Exchange Act. Ms. Goldsmith-Grover’s Rule 10b5-1 trading plan provides for the sale from time to time of a maximum of 1,200 shares of our Class A common stock and 2,757 shares of Ms. Goldsmith-Grover’s restricted stock unit awards, less any shares to be withheld for tax, pursuant to the terms of the plan. Ms. Goldsmith-Grover’s Rule 10b5-1 trading plan expires on December 31, 2025, or earlier if all transactions under the trading arrangement are completed. The trading arrangement is intended to satisfy the affirmative defense of Rule 10b5-1(c).
Name	Sarah Goldsmith-Grover
Title	member of our Board
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 13, 2024
Expiration Date	December 31, 2025
Arrangement Duration	384 days
Karen Roter Davis Trading Arrangement, Common Stock [Member] | Karen Roter Davis [Member]
Trading Arrangements, by Individual
Aggregate Available	750	750
Karen Roter Davis Trading Arrangement, Restricted Stock [Member] | Karen Roter Davis [Member]
Trading Arrangements, by Individual
Aggregate Available	2,757	2,757
Sarah Goldsmith-Grover Trading Arrangement, Common Stock [Member] | Sarah Goldsmith-Grover [Member]
Trading Arrangements, by Individual
Aggregate Available	1,200	1,200
Sarah Goldsmith-Grover Trading Arrangement, Restricted Stock [Member] | Sarah Goldsmith-Grover [Member]
Trading Arrangements, by Individual
Aggregate Available	2,757	2,757

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We have developed and implemented a cybersecurity risk management program designed to protect the confidentiality, integrity, and availability of our internal and customer facing IT Systems and Confidential Information. We have designed our program taking into account the National Institute of Standards and Technology Cybersecurity Framework (“NIST CSF”) and Center For Internet Security (“CIS”) Controls. These standards, along with other industry benchmarks, such as the PCI DSS, are used as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business, but this does not imply that we meet any particular technical standards, specifications, or requirements at all times. Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas. As part of our enterprise risk assessment function, which is led by our General Counsel and Vice President of Internal Audit, we have implemented processes designed to assess, identify and manage the material risks facing the Company, including from cybersecurity risks. As part of this process, our IT organization assesses cybersecurity risk and evaluates our policies, procedures, skill sets and tools, with the aim to identify and address, as appropriate, areas of vulnerability. Our internal audit team performs testing to assess whether our program is appropriately designed and operating as intended. Key elements of our cybersecurity risk management program include, but are not limited to the following: • risk assessments designed to help identify material cybersecurity risks to our IT Systems and Confidential Information; • a security team principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents; • the use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security processes; • designing products and services with cybersecurity in mind; • cybersecurity awareness training, including internal phishing tests of our employees, contractors, consultants, or any third-parties who will have access to our IT Systems, information, products, services, or our broader enterprise IT environment; • a cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; and • a third-party risk management process for key service providers, suppliers, and vendors based on their criticality and risk profile. We have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected us, including our operations, business strategy, results of operations, or financial condition. We face certain ongoing risks from cybersecurity threats that, if realized, are reasonably likely to materially affect us. See “Risk Factor– Our inability to protect our IT Systems and Confidential Information from continually evolving cybersecurity risks, security breaches or other technological risks could affect our reputation and brand among our merchants and consumers and may expose us to material financial penalties and legal liability.”
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have developed and implemented a cybersecurity risk management program designed to protect the confidentiality, integrity, and availability of our internal and customer facing IT Systems and Confidential Information. We have designed our program taking into account the National Institute of Standards and Technology Cybersecurity Framework (“NIST CSF”) and Center For Internet Security (“CIS”) Controls. These standards, along with other industry benchmarks, such as the PCI DSS, are used as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business, but this does not imply that we meet any particular technical standards, specifications, or requirements at all times.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee (“Committee”) oversight of cybersecurity and other information technology risks. The Committee oversees management’s implementation of our cybersecurity risk management program. The Committee receives periodic reports from management on our cybersecurity risks and program. In addition, management updates the Committee, as necessary, regarding any significant cybersecurity incidents. The Committee reports to the full Board regarding its activities, including those related to cybersecurity. The full Board also receives briefings from management on our cyber risk management program. Our management team, including the VP of Enterprise Security & Compliance and Director of Enterprise Security & Compliance, is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises our internal cybersecurity personnel. Our management team’s collective experience includes a diverse background in fintech and other industries, with decades of experience in various aspects of cybersecurity. Our management team stays informed about and monitors efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment. In addition, our VP of Enterprise Security & Compliance and Director of Enterprise Security & Compliance brings extensive expertise in risk assessment and management, regulatory compliance (including PCI DSS, GDPR, and the Sarbanes-Oxley Act), incident response, data protection and privacy, security monitoring and threat intelligence, and the implementation of advanced security technologies.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Board considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee (“Committee”) oversight of cybersecurity and other information technology risks. The Committee oversees management’s implementation of our cybersecurity risk management program.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Committee receives periodic reports from management on our cybersecurity risks and program. In addition, management updates the Committee, as necessary, regarding any significant cybersecurity incidents. The Committee reports to the full Board regarding its activities, including those related to cybersecurity. The full Board also receives briefings from management on our cyber risk management program.
Cybersecurity Risk Role of Management [Text Block]	Our Board considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee (“Committee”) oversight of cybersecurity and other information technology risks. The Committee oversees management’s implementation of our cybersecurity risk management program. The Committee receives periodic reports from management on our cybersecurity risks and program. In addition, management updates the Committee, as necessary, regarding any significant cybersecurity incidents. The Committee reports to the full Board regarding its activities, including those related to cybersecurity. The full Board also receives briefings from management on our cyber risk management program.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our Board considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit Committee (“Committee”) oversight of cybersecurity and other information technology risks. The Committee oversees management’s implementation of our cybersecurity risk management program.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our management team’s collective experience includes a diverse background in fintech and other industries, with decades of experience in various aspects of cybersecurity.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our management team stays informed about and monitors efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Organization, Basis of Presen_2

Organization, Basis of Presentation and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the U.S. (“U.S. GAAP”). The consolidated financial statements include the accounts of Shift4 Payments, Inc. and its wholly-owned subsidiaries. Shift4 Payments, Inc. consolidates the financial results of Shift4 Payments, LLC, which is considered a variable interest entity. Shift4 Payments, Inc. is the primary beneficiary and sole managing member of Shift4 Payments, LLC and has decision making authority that significantly affects the economic performance of the entity. As a result, the Company consolidates Shift4 Payments, LLC and reports a noncontrolling interest representing the economic interest in Shift4 Payments, LLC held by Rook Holdings Inc. (“Rook”). All intercompany balances and transactions have been eliminated in consolidation. The assets and liabilities of Shift4 Payments, LLC represent substantially all of the consolidated assets and liabilities of Shift4 Payments, Inc. with the exception of certain cash balances, amounts payable under the Tax Receivable Agreement (“TRA”), and the aggregate principal amount of $690.0 million of 2025 Convertible Notes and $632.5 million of 2027 Convertible Notes (together, the “Convertible Notes”) that are held by Shift4 Payments, Inc. directly. As of December 31, 2024 and 2023, $52.0 million and $3.6 million of cash, respectively, w as directly held by Shift4 Payments, Inc. As of December 31, 2024 and 2023, the TRA liability was $365.5 million and $5.1 million, respectively. In connection with the issuance of the Convertible Notes, Shift4 Payments, Inc. entered into Intercompany Convertible Notes with Shift4 Payments, LLC, whereby Shift4 Payments, Inc. provided the net proceeds from the issuance of the Convertible Notes to Shift4 Payments, LLC in the amount of $1,322.5 million. Shift4 Pa
Presentation of Consolidated Balance Sheets and Statements of Cash Flows	Change in Presentation of Consolidated Balance Sheets Prior year balances have been adjusted to present “Current portion of TRA liability” and “Noncurrent portion of TRA liability” on their own line items rather than within “Accrued expenses and other current liabilities” and “Other noncurrent liabilities” on the Company’s Consolidated Balance Sheets to conform to the current period presentation. Prior year balances have been adjusted to present “Investments in securities” within the line item “Other noncurrent assets” on the Company’s Consolidated Balance Sheets to conform to the current period presentation. Change in Presentation of Consolidated Statements of Cash Flows During the fourth quarter of 2024, the Company elected to change its presentation of the cash flows associated with “Settlement activity, net” from “Operating activities” to present them as “Financing activities” within its Consolidated Statements of Cash Flows. Prior year balances have been adjusted to conform to the current period presentation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company’s consolidated financial statements and accompanying notes. Significant estimates inherent in the preparation of the accompanying consolidated financial statements include estimates of fair value of acquired assets and liabilities through business combinations, fair value of contingent liabilities related to earnout payments, deferred income tax valuation allowances, amounts associated with the Company’s tax receivable agreement with Rook and certain affiliates of Searchlight Capital Partners, L.P. (together, the “Continuing Equity Owners”), allowance for doubtful accounts, income taxes, and noncontrolling interests. Estimates are based on past experience and other considerations reasonable under the circumstances. Actual results may differ from these estimates.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash Highly liquid investments with maturities of three months or less at the date of purchase are considered to be cash equivalents and are stated at cost, which approximates fair value. The Company’s cash equivalents consist of highly liquid investments in money market funds. On September 30, 2024, the Company entered into the Settlement Line Credit Agreement (the “Settlement Line Agreement”), by and between Shift4 LLC, as the borrower, and Citizens Bank, N.A. (“Citizens”), as the lender, providing for a settlement line of credit with an aggregate available amount of up to $100.0 million (the “Settlement Line”). The purpose of the Settlement Line is to provide financing for certain settlement obligations of Shift4 LLC’s merchants and to eliminate the requirement for cash collateral under the sponsorship agreement with Citizens (the “Sponsorship Agreement”), which was amended in conjunction with the closing the Settlement Line Agreement. The Settlement Line is scheduled to mature on September 29, 2025, subject to extensions. Draws under the Settlement Line bear interest at a rate per annum equal to either (x) a daily simple SOFR based rate (subject to a 0.0% floor), plus an applicable margin of 0.75%, or (y) to the extent required by the Settlement Line Agreement upon the occurrence of certain specified events, an alternate base rate (equal to the highest of the Federal Funds Effective Rate plus 0.50%, the daily simple SOFR rate (subject to a 0.0% floor) plus 1.00%, and the prime rate announced by Citizens from time to time). In addition to making periodic interest payments on the principal amount of outstanding draws under the Settlement Line, the Company is required to pay an unused fee under the Settlement Line in respect of the unused availability thereunder at a rate equal to 0.15% per annum. As of December 31, 2024, there were $73.2 million of borrowings against the Settlement Line. The borrowings against the Settlement Line have been deposited in an account owned and controlled by Citizens. The deposit and borrowing have been netted on the Company’s Consolidated Balance Sheet because a right of offset exists and the parties intend to net settle.
Settlement Assets and Liabilities	Settlement Assets and Liabilities Settlement assets and liabilities are balances related to the settlement process which involves the transferring of funds between card issuers, merchants and other third parties. The Company currently operates under two different models (1) a sponsorship model and (2) a direct member model. In North America, the Company operates under the sponsorship model and outside North America the Company primarily operates under the direct member model. Sponsorship Model In North America, the Company operates under the sponsorship model. In order for the Company to provide payment processing services, Visa, MasterCard and other payment networks require sponsorship by a member clearing bank. The Company has an agreement with banks and financial institutions (the “Sponsoring Member”), to provide sponsorship services to the Company. The sponsorship services allow the Company to route transactions under the Sponsoring Members’ membership to clear card transactions through card networks. Under this model, the standards of the payment networks restrict the Company from performing funds settlement and require that these funds be in the possession of the Sponsoring Member until the merchant is funded. Accordingly, settlement assets and obligations resulting from the submission of settlement files to the network or cash received from the network in advance of funding the network are the responsibility of the Sponsoring Member and are not recorded on the Company’s Consolidated Balance Sheets. Direct Member Model The Company’s European and U.K. business operates as a full acquirer and without a sponsor bank. Under the direct member model, the Company’s Consolidated Balance Sheets include settlement assets and liabilities that represent balances arising from the settlement process which involves the transferring of funds between card issuers, payment networks, processors, and merchants, as well as collateral held to manage merchant credit risk. As a processor, the Company facilitates the clearing and settlement activity for the merchant and records settlement assets and liabilities on the Consolidated Balance Sheets upon processing a payment transaction. Settlement assets represent cash received or amounts receivable primarily from payment networks or bank partners. Settlement liabilities primarily represent amounts payable to merchants. Settlement assets are in excess of Settlement liabilities due to prefunding provided to certain merchants.
Bank Deposits	Bank Deposits The Company previously operated a licensed credit institution in Malta, and had issued deposits to corporate counterparties and to individual retail customers. In connection with the Company’s change of the entity from a bank to a payment institution, all deposits were refunded in 2024.
Accounts Receivable	Accounts Receivable Accounts receivable are primarily comprised of amounts due from the Company’s customers. Most receivables are typically received within ten business days following the end of the month. In addition, accounts receivable includes amounts due from merchants for point-of-sale (“POS”) software, support services, and other miscellaneous service fees, as well as receivables related to chargeback transactions, as described below. Disputes between a cardholder and a merchant periodically arise as a result of, among other things, cardholder dissatisfaction with merchandise quality, unsatisfactory merchant services, nondelivery of goods or nonperformance of services. Such disputes may not be resolved in the merchant’s favor. In these cases, the transaction is “charged back” to the merchant, which means the disputed amount is refunded to the cardholder through the acquiring bank and charged to the merchant. If the merchant has inadequate funds, the Company bears credit risk. In North America, the Company’s sponsor bank holds merchant funds that are available to meet merchant chargeback liabilities if the merchant has inadequate funds to the meet the obligation. Total merchant funds held at the Company’s sponsor bank totaled $6.6 million and $9.0 million as of December 31, 2024 and 2023 , respectively. These amounts are not recorded on the Company’s Consolidated Balance Sheets. The carrying amount of accounts receivable is reduced by an allowance for doubtful accounts that reflects management’s best estimate of accounts that will not be collected. The allowance for doubtful accounts is primarily comprised of (1) credit risk associated with processing receivables where the credit card or automatic clearing house (“ACH”) transaction to settle the customer accounts was rejected and the Company estimates an amount to be uncollectible (2) transactions disputed by a cardholder in which the Company bears the credit risk (chargeback receivables) and (3) a portion of gateway and other merchant billing receivables for which the Company estimates amounts to be uncollectible. The allowance is based on historical loss experience, any current or forecasted risks identified through collection matters, and current economic trends. Any change in the assumptions used may result in an additional allowance for doubtful accounts being recognized in the period in which the change occurs. Changes in the allowance related to chargeback receivables are recognized within “Cost of sales” in the Consolidated Statements of Operations. Changes in the allowance for all other receivables are recognized within “General and administrative expenses” in the Consolidated Statements of Operations.
Accounts Payable	Accounts Payable Accounts payable are primarily comprised of amounts due to the Company’s sponsor bank, payment networks, financial institutions and other third parties for interchange and processing fees, as well as other third party suppliers and vendors.
Inventory	Inventory Inventory represents credit and debit card terminals, POS systems and electronic cash registers on hand and not in service. Inventory is recorded using the weighted average cost method. Inventory deemed to have costs greater than their respective values are reduced to net realizable value as a loss in the period recognized.
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the fair value of net tangible and intangible assets acquired in a business combination. The Company evaluates goodwill for impairment annually at October 1 and whenever events or circumstances make it more likely than not that impairment may have occurred. The Company has determined that its business comprises one reporting unit. The Company has the option to first assess qualitative factors to determine whether events or circumstances indicate it is more likely than not that the fair value of a reporting unit is greater than its carrying amount. The Company considers factors in performing a qualitative assessment including, but not limited to, general macroeconomic conditions, industry and market conditions, company financial performance, changes in strategy, and other relevant entity-specific events. If the Company elects to bypass the qualitative assessment or does not pass the qualitative assessment, a quantitative assessment is performed.
Residual Commission Buyouts, Net	Residual Commission Buyouts, Net Residual commission buyouts primarily represent amounts paid to a third-party distribution partner to buy out future residual commission streams that will be owed to them. The typical buyout payment to the partner is comprised of a lump sum payment due immediately and a future contingent payment dependent on attrition rates and/or other financial metrics within the respective merchant portfolios. Contingent consideration for residual commission buyouts associated with asset acquisitions is included in the initial cost of the assets acquired. Subsequent changes in contingent consideration are recognized as an adjustment to the cost basis of the acquired assets. Amortization is computed using the straight-line method. Residual commission buyouts associated with asset acquisitions are amortized over an estimated useful life of four years, and residual commission buyouts associated with business combinations are amortized over a weighted average estimated useful life of eight years.
Other Intangible Assets, Net	Other Intangible Assets, Net one
Impairment of long-lived assets	Impairment of long-lived assets
Crypto Settlement Assets and Liabilities	Crypto Settlement Assets and Liabilities
Equipment for Lease	Equipment for Lease
Leases	Leases The Company periodically enters into agreements in which it is the lessee, including office leases and warehouse space. These agreements meet the criteria for recognition as leases under Accounting Standards Codification (“ASC”) 842: Leases (“ASC 842”) . Leases are classified as either operating or finance, based on the substance of the transaction at inception of the lease. Classification is reassessed if the terms of the lease are chan ged. Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. For these agreements, the Company recognizes an operating lease right-of-use asset and an operating lease liability based on the present value of the minimum lease payments over the non-cancelable lease term. Operating lease expense is recognized within “General and administrative expenses” in the Consolidated Statements of Operations on a straight-line basis over the period of the lease. The Company has operating leases primarily for office and warehouse space. Most leases are not cancellable prior to their expiration. The Company accounts for leases in accordance with ASC 842 by recording right-of-use assets and lease liabilities. The right-of-use assets represent the Company’s right to use underlying assets for the lease term and the lease liability represents the Company's obligation to make lease payments under the leases. The Company determines if an agreement is or contains a lease at contract inception and exercises judgment and applies certain assumptions when determining the discount rate and lease term. ASC 842 requires a lessee to record a lease liability based on the discounted unpaid lease payments using the interest rate implicit in the lease or, if the rate cannot be readily determined, the incremental borrowing rate. Generally, the Company does not have knowledge of the rate implicit in the lease and, therefore, uses its incremental borrowing rate for a lease. The lease term includes the non-cancelable period of the lease plus any additional periods covered by an option to extend that the Company is reasonably certain to exercise.
Revenue Recognition	Revenue Recognition ASC 606: Revenue from Contracts with Customers (“ASC 606”) provides a single model to determine when and how revenue is recognized. The core principle of ASC 606 is that an entity should recognize revenue to depict the transfer of control of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company recognizes revenue using a five-step model resulting in revenue being recognized as performance obligations within a contract have been satisfied. The steps within that model include: (i) identifying the existence of a contract with a customer; (ii) identifying the performance obligations within the contract; (iii) determining the contract’s transaction price; (iv) allocating the transaction price to the contract’s performance obligations; and, (v) recognizing revenue as the contract’s performance obligations are satisfied. Judgment is required to apply the principles-based, five-step model for revenue recognition. Management is required to make certain estimates and assumptions about the Company’s contracts with its customers, including, among others, the nature and extent of its performance obligations, its transaction price amounts and any allocations thereof, the events which constitute satisfaction of its performance obligations, and when control of any promised goods or services is transferred to its customers. The Company provides its merchants with an end-to-end payments offering that combines its payments platform, including its proprietary gateway and breadth of software integrations, and its suite of technology solutions. The Company primarily earns revenue through volume-based payment and transaction fees, as well as subscription revenue for its software and technology solutions. Payments-Based Revenue Payments-based revenue includes fees for payment processing and gateway services. Payment processing fees are primarily driven as a percentage of payment volume. They may also have a fixed fee, a minimum monthly usage fee and a fee based on transactions. Gateway services, data encryption and tokenization fees are primarily driven by per transaction fees as well as monthly usage fees. Included in payments-based revenue are fees earned from our international payments platform, strategic enterprise merchant relationships, and alternative payments methods, including cryptocurrency and stock donations. T he Company satisfies its performance obligations and recognizes transaction fees upon authorization of a transaction by the merchant’s bank. These transaction fees represent the full amount of the fee charged to the merchant, including interchange and payment network costs paid to the card brands pursuant to the transactions the Company facilitates through the network while performing an end-to-end payment obligation. The Company’s performance obligation is to stand-ready to provide payment processing services for each day during the duration of the payment processing agreement. Providing payment processing services involves multiple promises including: 1) payment processing, 2) gateway services including tokenization and data encryption, 3) risk mitigation, and 4) settlement services. The Company considers each of these promises to be inputs to produce a combined output of providing a fully secured and integrated end-to-end payment processing service to a merchant. Further, the combination of these services is transformative in nature in that the significant integration allows for front-end and back-end risk mitigation, merchant portability, third-party software integrations, and enhanced reporting functionality. The Company applies the right to invoice practical expedient to payment processing services as each performance obligation is recognized over time and the amounts invoiced are reflective of the value transferred to the customer. Payment processing fees are recognized on a gross basis (gross of network fees) as the Company is the principal in the delivery of the payment processing solution to its merchants because it controls the service on its payments platform. The Company also contracts directly with its merchants and has complete pricing latitude on the processing fees charged to its merchants. As such, it bears the credit risk for network fees and transactions charged back to the merchant. Subscription-Based Revenue The Company also generates revenues from recurring fees which are based on the technology deployed by the merchant. This includes statement fees, fees for the Company’s proprietary business intelligence software and other annual fees, and other miscellaneous services such as help desk support and warranties on equipment. Annual fees are recognized as revenue over the respective period the fee covers, which is generally one year or less. The Company’s SaaS agreements include multiple performance obligations. For such agreements, the Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company estimates standalone selling prices based on the fair value of each product and service. As part of the SaaS fees for its POS systems provided to merchants, the Company identified the following separate performance obligations under ASC 606: (1) Software: The Company provides a “Hybrid Cloud” agreement which includes on-premise software as well as a cloud component. The on-premise solution interacts with the cloud service to provide an end-to-end integrated solution to the merchant. As the on-premise software and cloud-based service are transformative in nature, they are not distinct performance obligations. The revenue allocated to software from the monthly SaaS fee qualifies as a service and revenue is recognized ratably over time as the performance obligation represents a stand-ready obligation to provide the service. (2) Hardware: The Company’s standard business practice is to provide hardware to its merchants as a lease. The hardware is typically accounted for as an operating lease and the revenue allocated to this performance obligation is recognized ratably over the contract term. In limited instances, hardware is sold to the customer. These transactions are typically the result of customer preference. (3) Other support services: The Company offers customers technical support services and the leased hardware. Technical support services include the promise to provide the merchant with software updates if and when available. The Company also provides customers with assurance that its equipment will function in accordance with contract specifications over the lease term. Revenue allocated to this performance obligation is recognized ratably over time as the performance obligation represents a stand-ready obligation to provide the service. Other Revenue Other revenue includes revenue derived from hardware sales, software license sales, third-party residuals, and fees charged for technology support to merchants. Capitalized Customer Acquisition Costs The Company incurs costs to obtain payment processing contracts with customers, primarily in the form of upfront processing bonuses provided to the Company’s internal sales team and to the Company’s software partners, which consist of independent software vendors and value-added resellers. The Company recognizes as an asset the incremental costs of obtaining a contract with a customer if it expects to recover the costs. Capitalized customer acquisition costs are amortized ratably over the estimated life of the customer, which is genera lly four years .
Treasury Stock	Treasury Stock The Company periodically purchases its own common stock that is traded on public markets as part of an announced stock repurchase program. The Company records repurchases of common stock at cost in treasury stock on the Company’s Consolidated Balance Sheets. Upon retirement, the Company allocates the value of treasury stock between Additional paid-in capital and Retained earnings. The Company typically retires all repurchased shares within the quarter of repurchase.
Noncontrolling Interests	Noncontrolling Interests Noncontrolling interests primarily represents the economic interests of LLC Interests held by Rook. Income or loss is attributed to the noncontrolling interests based on the weighted average LLC Interests outstanding during the period. The noncontrolling interests’ ownership percentage will fluctuate over time as Rook elects to exchange LLC Interests for shares of Class A common stock, and as the number of shares of Class A common stock outstanding otherwise changes.
Equity-based Compensation	Equity-based Compensation The Company’s equity-based compensation consists of restricted stock units (“RSUs”) and performance RSUs (“PRSUs”) issued to certain employees and non-employee directors. Equity-based compensation expense is recorded within “General and administrative expenses” in the Consolidated Statements of Operations. The Company accounts for forfeitures when they occur. RSUs Compensation expense for RSUs is recognized on a straight-line basis over the requisite service period based on the fair value of the award on the date of grant. PRSUs Vesting for PRSUs is typically subject to satisfying objective operating performance conditions. Compensation expense for PRSUs is based on the fair value of the award on the date of grant. Compensation expense is recognized during the vesting period only when it is probable that the operating performance conditions will be achieved. The Company records a cumulative adjustment to compensation expense for PRSUs if there is a change in the determination of the probability that the operating performance conditions will be achieved. In recent years, expense associated with PRSUs has been immaterial.
Income Taxes	Income Taxes Shift4 Payments, Inc. is the sole managing member of Shift4 Payments, LLC, a partnership that is not subject to tax. Any taxable income or loss from Shift4 Payments, LLC is passed through and included in the taxable income or loss of its members, including Shift4 Payments, Inc. Shift4 Payments, Inc. is subject to U.S. federal income taxes, in addition to state and local income taxes with respect to Shift4 Payments, Inc.’s allocable share of any taxable income or loss of Shift4 Payments, LLC. In addition, Shift4 Payments, LLC wholly owns various U.S. and foreign subsidiaries which are taxed as corporations for tax reporting. Taxable income or loss from these subsidiaries is not passed through to Shift4 Payments, LLC. Instead, such taxable income or loss is taxed at the corporate level subject to the prevailing corporate tax rates. The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets (“DTAs”) and deferred tax liabilities (“DTLs”) for the expected future tax consequences of events that have been included in the financial statements. Under this method, the Company determines DTAs and DTLs on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on DTAs and DTLs is recognized in income in the period that includes the enactment date. The Company recognizes DTAs to the extent it believes that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If it is determined that the Company is able to realize DTAs in the future in excess of their net recorded amount, an adjustment to the DTA valuation allowance would be recorded, which would reduce the provision for income taxes. The Company records uncertain tax positions in accordance with ASC 740, Income Taxes, on the basis of a two-step process in which (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company records interest and penalties related to uncertain tax positions in the provision for income taxes in the Consolidated Statements of Operations.
Basic and Diluted Net Income Per Share	Basic and Diluted Net Income Per Share The Company applies the two-class method for calculating and presenting net income per share, and separately presents net income per share for Class A common stock and Class C common stock. In applying the two-class method, the Company determined that undistributed earnings should be allocated equally on a per share basis between Class A and Class C common stock. Under the Company’s Certificate of Incorporation, the holders of the Class A and Class C common stock are entitled to participate in earnings ratably, on a share-for-share basis, as if all shares of common stock were of a single class, and in such dividends as may be declared by the Company’s Board of Directors (the “Board”). Holders of the Class A and Class C common stock also have equal priority in liquidation. Shares of Class B common stock do not participate in earnings of Shift4 Payments, Inc. As a result, the shares of Class B common stock are not considered participating securities and are not included in the weighted-average shares outstanding for purposes of basic net income per share.
Investments in securities	Investments in securities Investments in securities are comprised of the Company’s investments in equity securities.
Research and Development Costs	Research and Development Costs
Business Combinations	Business Combinations Upon acquisition of a company, the Company determines if the transaction is a business combination, which is accounted for using the acquisition method of accounting. Under the acquisition method, once control is obtained of a business, the assets acquired and liabilities assumed are recorded at fair value. The Company uses estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed at the acquisition date. The Company’s estimates of fair value are based upon assumptions it believes to be reasonable, but which are inherently uncertain and unpredictable. Measurement period adjustments are reflected at the time identified, up through the conclusion of the measurement period, which is the time at which all information for determination of the values of assets acquired and liabilities assumed is received, and is not to exceed one year from the acquisition date. The Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill.
Concentration Risk	Concentration Risk The Company’s merchant processing activity in North America is facilitated by one vendor. The Company believes that this vendor maintains appropriate backup systems and alternative arrangements to avoid a significant disruption of the processing in the event of an unforeseen event.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures , to help enhance disclosures about significant segment expenses by requiring disclosure of incremental segment information on an annual and interim basis for all public entities to enable investors to develop more decision-useful financial analyses. The amendments in ASU 2023-07 became effective for the Company’s 2024 annual financial statements. The adoption did not have a significant impact on the Company’s consolidated financial statements. In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions , to clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring the fair value of the equity security. ASU 2022-03 also clarifies that an entity cannot recognize and measure a contractual sale restriction as a separate unit of account. The amendments in ASU 2022-03 became effective for the Company on January 1, 2024 on a prospective basis. The adoption did not have a significant impact on the Company’s consolidated financial statements. Accounting Pronouncements Not Yet Adopted In January 2025, the SEC issued Staff Accounting Bulletin No. 122 (“SAB 122”), which rescinds the interpretive guidance included in SAB 121 regarding the accounting for obligations to safeguard crypto-assets an entity holds for users of its crypto platform. The guidance in SAB 121 required entities that hold crypto-assets on behalf of platform users to recognize a liability accompanied by an asset of the same value on its balance sheet to reflect the entity’s obligation to safeguard the crypto-assets held for its platform users. Therefore, beginning in 2025, the Company will no longer recognize crypto settlement assets and liabilities on its Consolidated Balance Sheets. The adoption of SAB 122 will have no impact on the Company’s Consolidated Statements of Operations or Consolidated Statements of Cash Flows . In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Topic 220): Disaggregation of Income Statement Expenses , which requires additional disclosure of certain amounts included in the expense captions presented on the Statements of Operations as well as disclosures about selling expenses. ASU 2024-03 is effective on a prospective basis, with the option for retrospective application, for annual periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with early adoption permitted. Besides the additional disclosures noted above, the Company does not believe ASU 2024-03 will have a significant impact on its financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes: Improvements to Income Tax Disclosures
Leases	Lease payments received are recognized as income on a straight-line basis over the term of the agreement in accordance with ASC 606 and classified as gross revenue on the Company’s Consolidated Statements of Operations.

Organization, Basis of Presen_3

Organization, Basis of Presentation and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Change in Presentation Within Consolidated Statements of Cash Flows	The following table presents the effects of the change in presentation within the Consolidated Statements of Cash Flows: Year Ended December 31, 2023 As Previously Reported Adjustment As Adjusted Cash flows from operating activities Settlement activity, net $ 42.3 $ (42.3) $ — Net cash provided by operating activities $ 388.3 $ (42.3) $ 346.0 Cash flows from financing activities Settlement activity, net $ — $ 42.3 $ 42.3 Net cash used in financing activities $ (152.2) $ 42.3 $ (109.9)
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation between cash and cash equivalents on the Consolidated Balance Sheets and the Consolidated Statements of Cash Flows: December 31, 2024 December 31, 2023 Cash and cash equivalents $ 1,211.9 $ 455.0 Restricted cash — 84.4 Cash and cash equivalents included in Settlement assets 226.7 182.4 Total cash and cash equivalents and restricted cash on the Consolidated Statements of Cash Flows $ 1,438.6 $ 721.8
Schedule of Restrictions on Cash and Cash Equivalents	The following table provides a reconciliation between cash and cash equivalents on the Consolidated Balance Sheets and the Consolidated Statements of Cash Flows: December 31, 2024 December 31, 2023 Cash and cash equivalents $ 1,211.9 $ 455.0 Restricted cash — 84.4 Cash and cash equivalents included in Settlement assets 226.7 182.4 Total cash and cash equivalents and restricted cash on the Consolidated Statements of Cash Flows $ 1,438.6 $ 721.8
Schedule of Changes in Allowance for Doubtful Accounts	The change in the Company’s allowance for doubtful accounts was as follows: Year Ended December 31, 2024 2023 Beginning balance $ 22.7 $ 18.1 Additions to expense 6.5 9.2 Write-offs, net of recoveries and other adjustments (8.2) (4.6) Ending balance $ 21.0 $ 22.7
Schedule of Estimated Useful Life of Each Asset Category	The estimated useful life of each asset category is as follows: Useful life Equipment 3-5 years Capitalized software 3-5 years Leasehold improvements 5-10 years* Furniture and fixtures 5 years Vehicles 5 years *Not to exceed remaining lease term. Property, plant and equipment, net consisted of the following: December 31, 2024 December 31, 2023 Equipment $ 21.0 $ 21.9 Capitalized software 4.4 3.5 Leasehold improvements 19.5 18.7 Furniture and fixtures 2.4 2.2 Vehicles 0.5 0.4 Total property, plant and equipment, gross 47.8 46.7 Less: Accumulated depreciation (20.6) (18.1) Total property, plant and equipment, net $ 27.2 $ 28.6

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Purchase Price Included the Forms of Consideration	Total purchase consideration was as follows: Cash $ 124.8 Total purchase consideration 124.8 Less: cash acquired (9.8) Total purchase consideration, net of cash acquired $ 115.0 Cash $ 146.0 Total purchase consideration 146.0 Less: cash acquired (18.2) Total purchase consideration, net of cash acquired $ 127.8 Cash $ 66.9 Contingent consideration (a) 2.9 Total purchase consideration 69.8 Less: cash acquired (7.1) Total purchase consideration, net of cash acquired 62.7 Noncontrolling interest 24.9 Fair value of net assets acquired $ 87.6 (a) The Company agreed to a cash earnout due to certain former shareholders of Vectron based on the achievement against certain operational metrics through 2027. The actual earn out can range between zero and €7.0 million. The fair value of the earnout was included in the initial purchase consideration and will be revalued and recorded quarterly until the end of the earnout period as a fair value adjustment within “Revaluation of contingent liabilities” in the Company’s Consolidated Statements of Operations. As of December 31, 2024, the fair value of the earnout was $3.8 million, which is recognized in “Other noncurrent liabilities” on the Company’s Consolidated Balance Sheets. Cash $ 262.6 Total purchase consideration 262.6 Less: cash acquired (17.3) Total purchase consideration, net of cash acquired $ 245.3
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the fair value assigned to the assets acquired and liabilities assumed at the acquisition date. These amounts reflect various preliminary fair value estimates and assumptions, and are subject to change within the measurement period as valuations are finalized. The primary area of preliminary purchase price allocation subject to change relates to the valuation of other intangible assets and residual goodwill. Accounts receivable $ 1.7 Prepaid expenses and other current assets 0.3 Goodwill (a) 76.0 Other intangible assets 52.4 Equipment for lease, net 0.5 Property, plant and equipment, net 0.3 Right-of-use assets 0.5 Accounts payable (0.7) Accrued expenses and other current liabilities (0.5) Deferred revenue (0.8) Current lease liabilities (0.3) Deferred tax liabilities (14.2) Noncurrent lease liabilities (0.2) Net assets acquired $ 115.0 (a) Goodwill is not deductible for tax purposes. The following table provides further detail on other intangible assets acquired: Merchant relationships $ 51.6 Acquired technology 0.8 Other intangible assets $ 52.4 The following table summarizes the fair value assigned to the assets acquired and liabilities assumed at the acquisition date. These amounts reflect various preliminary fair value estimates and assumptions, and are subject to change within the measurement period as valuations are finalized. The primary area of preliminary purchase price allocation subject to change relates to the valuation of accounts receivable, other intangible assets, accounts payable, accrued expenses and other current liabilities, and residual goodwill. Accounts receivable $ 8.6 Inventory 2.2 Prepaid expenses and other current assets 1.2 Goodwill (a) 84.3 Other intangible assets 66.1 Property, plant and equipment, net 1.5 Right-of-use assets 1.1 Other noncurrent assets 1.7 Accounts payable (4.8) Accrued expenses and other current liabilities (4.7) Current lease liabilities (0.4) Current portion of long-term debt (2.2) Deferred tax liabilities (17.5) Noncurrent lease liabilities (0.8) Other noncurrent liabilities (8.5) Net assets acquired $ 127.8 (a) Goodwill is not deductible for tax purposes. The following table provides further detail on other intangible assets acquired: Merchant relationships $ 58.2 Acquired technology 6.6 Trademark and trade names 1.3 Other intangible assets $ 66.1 The following table summarizes the fair value assigned to the assets acquired and liabilities assumed at the acquisition date. These amounts reflect various preliminary fair value estimates and assumptions, and are subject to change within the measurement period as valuations are finalized. The primary area of preliminary purchase price allocation subject to change relates to the valuation of accounts receivable, prepaid expenses and other current assets, other intangible assets, accounts payable, accrued expenses and other current liabilities, and residual goodwill. Accounts receivable $ 7.5 Inventory 3.4 Prepaid expenses and other current assets 6.3 Goodwill (a) 80.7 Other intangible assets 30.1 Property, plant and equipment, net 1.5 Right-of-use assets 8.9 Other noncurrent assets 2.5 Accounts payable (5.3) Accrued expenses and other current liabilities (6.6) Deferred revenue (4.6) Current lease liabilities (1.2) Deferred tax liabilities, net (9.5) Noncurrent lease liabilities (7.9) Other noncurrent liabilities (b) (18.2) Net assets acquired $ 87.6 (a) Goodwill is not deductible for tax purposes. (b) In connection with the Company’s majority stake in Vectron and due to Vectron’s acquisition of Acardo Group AG (“Acardo”) in December 2022, the Company became party to an earnout agreement with certain former shareholders of Acardo. The earnout is payable in multiple tranches, with up to €25.0 million payable in 2026. This amount is based on a multiple of the average of Acardo’s earnings before interest and taxes (“EBIT”) achieved in 2024 and 2025. Additionally, a percentage of Acardo’s net income for fiscal years 2023, 2024 and 2025 are payable in 2025 and 2026. Each portion of the earnout is expected to be paid in cash. The fair value of the earnout was included in the initial purchase consideration and will be revalued quarterly until the end of the earnout period as a fair value adjustment within “Revaluation of contingent liabilities” in the Company’s Consolidated Statements of Operations. As of December 31, 2024, the fair value of the earnout was $12.1 million, of which $0.7 million was recognized in “Accrued expenses and other current liabilities” and $11.4 million was recognized in “Other noncurrent liabilities” on the Company’s Consolidated Balance Sheets. The following table provides further detail on other intangible assets acquired: Merchant relationships $ 26.8 Acquired technology 2.0 Trademarks and trade names 1.3 Other intangible assets $ 30.1 The following table summarizes the fair value assigned to the assets acquired and liabilities assumed at the acquisition date. These amounts reflect various preliminary fair value estimates and assumptions, and are subject to change within the measurement period as valuations are finalized. The primary area of preliminary purchase price allocation subject to change relates to the valuation of accounts receivable, prepaid expenses and other current assets, other intangible assets, accounts payable, accrued expenses and other current liabilities, and residual goodwill. Accounts receivable $ 9.9 Inventory 1.8 Prepaid expenses and other current assets 4.4 Property, plant and equipment, net 0.3 Right-of-use assets 1.4 Goodwill (a) 123.1 Other intangible assets 118.9 Deferred tax assets 7.9 Other noncurrent assets 0.3 Accounts payable (6.6) Accrued expenses and other current liabilities (7.1) Deferred revenue (6.1) Current lease liabilities (0.6) Noncurrent lease liabilities (1.0) Other noncurrent liabilities (1.3) Net assets acquired $ 245.3 (a) Goodwill is not deductible for tax purposes. The following table provides further detail on other intangible assets acquired: Merchant relationships $ 106.3 Acquired technology 10.9 Trademarks and trade names 1.7 Other intangible assets $ 118.9

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table presents a disaggregation of the Company’s revenue from contracts with customers based on similar operational characteristics: Year Ended December 31, 2024 2023 2022 Payments-based revenue $ 2,990.1 $ 2,386.0 $ 1,857.1 Subscription and other revenues 340.5 178.8 136.5 Total $ 3,330.6 $ 2,564.8 $ 1,993.6

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill were as follows: Balance at December 31, 2023 $ 1,111.3 Eigen acquisition 76.0 Givex acquisition 84.3 Vectron acquisition 80.7 Revel acquisition 123.1 Effect of foreign currency translation, adjustments related to prior period acquisitions, and other (19.8) Balance at December 31, 2024 $ 1,455.6

Depreciation and Amortization (

Depreciation and Amortization (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Depreciation and Amortization	Amounts charged to expense in the Company’s Consolidated Statements of Operations for depreciation and amortization were as follows: Amortization Depreciation Residual Commission Buyouts Other Intangible Assets Capitalized Customer Acquisition Equipment Under Lease Property, Plant and Equipment Total Year Ended December 31, 2024 Depreciation and amortization expense $ 87.5 $ 46.9 $ — $ 54.4 $ 10.7 $ 199.5 Cost of sales — 71.1 25.5 — 0.5 97.1 Total depreciation and amortization (a) $ 87.5 $ 118.0 $ 25.5 $ 54.4 $ 11.2 $ 296.6 Year Ended December 31, 2023 Depreciation and amortization expense $ 86.9 $ 24.3 $ — $ 35.3 $ 7.3 $ 153.8 Cost of sales — 41.2 18.5 — 1.1 60.8 Total depreciation and amortization (b) $ 86.9 $ 65.5 $ 18.5 $ 35.3 $ 8.4 $ 214.6 Year Ended December 31, 2022 Depreciation and amortization expense $ 41.4 $ 22.4 $ — $ 28.4 $ 4.3 $ 96.5 Cost of sales — 27.5 24.2 — 0.9 52.6 Total depreciation and amortization (c) $ 41.4 $ 49.9 $ 24.2 $ 28.4 $ 5.2 $ 149.1 (a) Total amortization of $231.0 million consists of amortization of acquired intangibles of $167.0 million and amortization of non-acquired intangibles of $64.0 million. (b) Total amortization of $170.9 million consists of amortization of acquired intangibles of $127.8 million and amortization of non-acquired intangibles of $43.1 million. (c) Total amortization of $115.5 million consists of amortization of acquired intangibles of $77.9 million and amortization of non-acquired intangibles of $37.6 million.
Schedule of Estimated Amortization Expense	As of December 31, 2024, the estimated amortization expense for each of the five succeeding years and thereafter is as follows: Residual Commission Buyouts Other Intangible Assets Capitalized Customer Acquisition Costs Total Amortization 2025 $ 88.6 $ 132.3 $ 26.3 $ 247.2 2026 54.6 113.6 20.2 188.4 2027 6.1 90.2 13.8 110.1 2028 4.5 63.4 5.0 72.9 2029 1.5 62.3 — 63.8 Thereafter 1.9 296.6 — 298.5 Total $ 157.2 $ 758.4 $ 65.3 $ 980.9

Residual Commission Buyouts (Ta

Residual Commission Buyouts (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Residual Commission Buyouts	Residual commission buyouts, net consisted of the following: Weighted Average Amortization Period (in years) December 31, 2024 Carrying Value Accumulated Amortization Net Carrying Value Residual commission buyouts from asset acquisitions 4 $ 337.3 $ (190.1) $ 147.2 Residual commission buyouts from business combinations 8 13.9 (3.9) 10.0 Total residual commission buyouts $ 351.2 $ (194.0) $ 157.2 Weighted Average Amortization Period (in years) December 31, 2023 Carrying Value Accumulated Amortization Net Carrying Value Residual commission buyouts from asset acquisitions 4 $ 323.6 $ (105.7) $ 217.9 Residual commission buyouts from business combinations 8 13.9 (2.2) 11.7 Total residual commission buyouts $ 337.5 $ (107.9) $ 229.6

Other Intangible Assets, Net (T

Other Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Other Intangible Assets, Net	Other intangible assets, net consisted of the following: Weighted Average Amortization Period (in years) December 31, 2024 Carrying Value Accumulated Net Carrying Merchant relationships 12 $ 584.0 $ (95.4) $ 488.6 Acquired technology 8 269.0 (112.3) 156.7 Trademarks and trade names 12 29.4 (8.5) 20.9 Capitalized software development costs 3 150.7 (58.5) 92.2 Total other intangible assets, net $ 1,033.1 $ (274.7) $ 758.4 Weighted Average Amortization Period (in years) December 31, 2023 Carrying Value Accumulated Net Carrying Merchant relationships 11 $ 340.6 $ (57.8) $ 282.8 Acquired technology 9 257.6 (80.8) 176.8 Trademarks and trade names 13 28.1 (6.3) 21.8 Capitalized software development costs 3 98.8 (34.1) 64.7 Banking license 2 3.0 (0.3) 2.7 Total other intangible assets, net $ 728.1 $ (179.3) $ 548.8

Capitalized Customer Acquisit_2

Capitalized Customer Acquisition Costs, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Capitalized Customer Acquisition Costs	Capitalized customer acquisition costs, net consisted of the following: Weighted Average Amortization Period (in years) Carrying Value Accumulated Amortization Net Carrying Value Total costs as of December 31, 2024 4 $ 118.1 $ (52.8) $ 65.3 Total costs as of December 31, 2023 4 $ 96.6 $ (44.9) $ 51.7

Equipment for Lease, Net (Table

Equipment for Lease, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Equipment for Lease, Net	Equipment for lease, net consisted of the following: Weighted Average Depreciation Period (in years) December 31, 2024 Carrying Value Accumulated Depreciation Net Carrying Value Equipment under lease 4 $ 243.6 $ (93.0) $ 150.6 Equipment held for lease (a) N/A 14.5 — 14.5 Total equipment for lease, net $ 258.1 $ (93.0) $ 165.1 Weighted Average Depreciation Period (in years) December 31, 2023 Carrying Value Accumulated Depreciation Net Carrying Value Equipment under lease 4 $ 181.2 $ (69.6) $ 111.6 Equipment held for lease (a) N/A 11.5 — 11.5 Total equipment for lease, net $ 192.7 $ (69.6) $ 123.1 (a) Represents equipment that was not yet initially deployed to a merchant and, accordingly, is not being depreciated.

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The estimated useful life of each asset category is as follows: Useful life Equipment 3-5 years Capitalized software 3-5 years Leasehold improvements 5-10 years* Furniture and fixtures 5 years Vehicles 5 years *Not to exceed remaining lease term. Property, plant and equipment, net consisted of the following: December 31, 2024 December 31, 2023 Equipment $ 21.0 $ 21.9 Capitalized software 4.4 3.5 Leasehold improvements 19.5 18.7 Furniture and fixtures 2.4 2.2 Vehicles 0.5 0.4 Total property, plant and equipment, gross 47.8 46.7 Less: Accumulated depreciation (20.6) (18.1) Total property, plant and equipment, net $ 27.2 $ 28.6

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	The Company’s outstanding debt consisted of the following: Maturity Effective Interest Rate December 31, 2024 December 31, 2023 6.750% Senior Notes due 2032 ("2032 Senior Notes") August 15, 2032 6.92% $ 1,100.0 $ — Convertible Senior Notes due 2025 ("2025 Convertible Notes") December 15, 2025 0.49% 690.0 690.0 Convertible Senior Notes due 2027 ("2027 Convertible Notes") August 1, 2027 0.90% 632.5 632.5 4.625% Senior Notes due 2026 ("2026 Senior Notes") November 1, 2026 5.13% 450.0 450.0 Total debt principal 2,872.5 1,772.5 Less: Unamortized capitalized financing fees (31.5) (22.3) Total debt $ 2,841.0 $ 1,750.2 Current portion of debt $ 686.9 $ — Long-term debt 2,154.1 1,750.2 Total debt $ 2,841.0 $ 1,750.2
Schedule of Maturities of Long-Term Debt	As of December 31, 2024, future principal payments associated with the Company’s long-term debt were as follows: 2025 $ 690.0 2026 450.0 2027 632.5 Thereafter 1,100.0 Total $ 2,872.5

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Reconciliation of Beginning and Ending Balances for Level 3 Contingent Liabilities	The table below provides a reconciliation of the beginning and ending balances for the Level 3 contingent liabilities: Year Ended December 31, 2024 Contingent Liabilities for Acquisitions Contingent Liabilities for Assets Acquired Total Contingent Liabilities Balance at beginning of period $ 32.2 $ 1.4 $ 33.6 Contingent consideration 22.8 — 22.8 Fair value adjustments 4.0 0.3 4.3 Impact of foreign exchange (1.6) — (1.6) Contingent liabilities that achieved earnout (31.2) (1.7) (32.9) Balance at end of period $ 26.2 $ — $ 26.2
Schedule of Estimated Fair Value	The estimated fair value of the Company’s outstanding debt using quoted prices from over-the-counter markets, considered Level 2 inputs, was as follows. December 31, 2024 December 31, 2023 Carrying Fair Carrying Fair 2032 Senior Notes $ 1,086.5 $ 1,119.4 $ — $ — 2025 Convertible Notes 686.9 927.8 683.6 766.5 2027 Convertible Notes 626.0 684.0 623.5 593.2 2026 Senior Notes 445.9 443.2 443.7 438.2 Total $ 2,845.3 $ 3,174.4 $ 1,750.8 $ 1,797.9 (a) Carrying value excludes unamortized debt issuance costs related to the Revolving Credit Facility of $4.3 million and $0.6 million as of December 31, 2024 and 2023, respectively.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Benefit (Provision)	Components of income tax benefit (provision) consist of the following: Year Ended December 31, 2024 2023 2022 Current Federal $ (11.2) $ (0.7) $ (0.3) State (3.7) (0.4) — Foreign (11.0) (4.2) (2.0) Total current income tax benefit (provision) (25.9) (5.3) (2.3) Deferred Federal 252.0 5.5 0.9 State 65.9 2.3 1.0 Foreign 4.1 0.9 0.2 Total deferred income tax benefit (provision) 322.0 8.7 2.1 Total income tax benefit (provision) $ 296.1 $ 3.4 $ (0.2)
Schedule of Reconciliation of United States Statutory Income Tax Rate to Effective Income Tax Rate	A reconciliation of the U.S. statutory income tax rate to the Company’s effective income tax rate is as follows: Year Ended December 31, 2024 2023 2022 Federal statutory rate 21.0 % 21.0 % 21.0 % Noncontrolling interests/effect of pass-through entities (LLC income (loss)) 850.0 % (6.5 %) (3.3 %) State income taxes, net of federal benefit (250.0 %) 25.9 % (13.3 %) Permanent items 106.3 % 2.1 % 0.8 % Impacts of business combinations — % — % (7.4 %) Impacts of Recording Tax Receivable Agreement 262.5 % — % — % Change in fair value of contingent consideration — % 0.9 % (11.5 %) Foreign rate differential 450.0 % 0.4 % 1.7 % Unrecognized tax benefit — % — % 1.0 % Change in valuation allowance 18,100.0 % (47.4 %) 9.1 % Equity-based compensation 6.3 % 0.2 % 2.3 % Research and development tax credits 93.7 % — % — % U.S. taxation of worldwide subsidiaries, net of foreign tax credits (1,137.5 %) — % — % Other 4.0 % 0.6 % (0.2 %) Effective income tax rate 18,506.3 % (2.8 %) 0.2 %
Schedule of Income before Income Tax, Domestic and Foreign	The following table sets forth the Company’s income (loss) before income taxes for its domestic and foreign operations for the years ended December 31, 2024, 2023, and 2022: December 31, 2024 2023 2022 Domestic $ (61.4) $ 110.0 $ 89.6 Foreign 59.8 9.5 (2.7) Income (loss) before income taxes $ (1.6) $ 119.5 $ 86.9
Schedule of Deferred Tax Assets and Liabilities	Details of the Company’s deferred tax assets and liabilities are as follows: December 31, 2024 2023 Deferred tax assets: Investment in Shift4 Payments, LLC $ 465.3 $ 249.4 Net operating loss and tax credits carryforward 84.0 87.6 Lease liabilities 5.5 1.7 Equity-based compensation 8.3 6.3 Accrued expenses 1.9 2.4 Other 19.2 6.4 Subtotal 584.2 353.8 Valuation allowance (137.4) (334.1) Total deferred tax assets 446.8 19.7 Deferred tax liabilities: Intangible assets (100.4) (38.6) Fixed assets (1.3) (2.1) Right-of-use assets (4.9) (2.0) Other liabilities (4.0) (5.0) Total deferred tax liabilities (110.6) (47.7) Net deferred tax asset (liability) $ 336.2 $ (28.0)
Schedule of Total Amounts of Unrecognized Tax Benefits	Below is a tabular reconciliation of the total amounts of unrecognized tax benefits: Year Ended December 31, 2024 2023 2022 Beginning balance $ 4.7 $ 8.0 $ — Increase related to current year tax positions 0.7 0.8 0.9 Increase attributable to positions acquired through business combinations 6.0 0.9 7.1 Decrease related to prior year tax positions (0.2) — — Decrease attributable to measurement period adjustments — (5.0) Decrease attributable to statute of limitation expirations (0.8) — — Ending balance $ 10.4 $ 4.7 $ 8.0 Total amount of interest and penalties recognized in the $ 0.6 $ 0.7 $ 0.1 Total amount of interest and penalties recognized in the $ 2.0 $ 1.9 $ 1.8
Schedule of Open Tax Years	The Company's open tax years by major taxing jurisdictions are as follows: Jurisdiction Open Tax Years United States 2021 - 2024 Israel 2019 - 2024 Lithuania 2020 - 2024 Malta 2019 - 2024 Switzerland 2023 - 2024

Lease Agreements (Tables)

Lease Agreements (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Expected Payments Related to Non-cancellable Lease Terms (Topic 842)	The expected future payments related to leases with initial non-cancellable lease terms in excess of one year at December 31, 2024 are as follows: 2025 $ 12.3 2026 10.8 2027 8.6 2028 5.6 2029 3.1 Thereafter 4.2 Total lease payments 44.6 Less: Interest (4.3) Present value of minimum payments $ 40.3
Schedule of Operating Lease Costs	Supplemental balance sheet information related to leases was as follows: December 31, 2024 December 31, 2023 Weighted average remaining in lease term (in years): 4.5 4.0 Weighted average discount rate 5.1 % 5.1 %

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2024
Noncontrolling Interest [Abstract]
Schedule of Ownership of LLC Interests	The following table summarizes the ownership of LLC Interests in Shift4 Payments, LLC: December 31, 2024 December 31, 2023 LLC Interests Ownership % LLC Interests Ownership % Shift4 Payments, Inc. (a) 69,257,131 77.8 % 66,100,484 73.5 % Rook 19,801,028 22.2 % 23,831,883 26.5 % Total 89,058,159 100.0 % 89,932,367 100.0 %

Equity-based Compensation (Tabl

Equity-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of RSU Activity	The following table presents the expected number of shares that are expected to vest in each year as of December 31, 2024, subject to continued service: 2025 2026 2027 2028 Total Granted in 2021 196,695 198,090 — — 394,785 Granted in 2022 190,507 65,225 65,818 — 321,550 Granted in 2023 300,584 229,430 121,896 16,850 668,760 Granted in 2024 315,854 297,924 167,559 2,911 784,248 Total 1,003,640 790,669 355,273 19,761 2,169,343 The RSU and PRSU activity was as follows: Number of Weighted Average Grant Date Unvested balance at December 31, 2021 2,402,694 $ 43.28 Granted 1,143,956 45.20 Vested (825,720) 35.51 Forfeited or cancelled (255,575) 54.75 Unvested balance at December 31, 2022 2,465,355 47.57 Granted 1,415,102 63.87 Vested (1,096,241) 44.19 Forfeited or cancelled (439,006) 55.22 Unvested balance at December 31, 2023 2,345,210 57.35 Granted 1,160,816 67.22 Vested (1,021,787) 58.05 Forfeited or cancelled (314,896) 58.53 Unvested balance at December 31, 2024 2,169,343 $ 62.13

Basic and Diluted Net Income _2

Basic and Diluted Net Income per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Net Income per Share	Year Ended December 31, 2024 2023 2022 Net income $ 294.5 $ 122.9 $ 86.7 Less: Net income attributable to noncontrolling interests (64.9) (36.7) (11.6) Adjustment to net income attributable to common stockholders (2.4) — — Net income attributable to common stockholders - basic 227.2 86.2 75.1 Reallocation of net income from noncontrolling interests to common stockholders due to effect of dilutive securities 50.3 0.7 11.6 Net income attributable to common stockholders - diluted $ 277.5 $ 86.9 $ 86.7 Numerator - allocation of net income attributable to common stockholders: Net income allocated to Class A common stock - basic $ 221.6 $ 83.4 $ 69.9 Reallocation of net income from noncontrolling interests to common stockholders due to effect of dilutive securities 50.8 0.7 12.7 Net income allocated to Class A common stock - diluted $ 272.4 $ 84.1 $ 82.6 Net income allocated to Class C common stock - basic $ 5.6 $ 2.8 $ 5.2 Reallocation of net income from noncontrolling interests to common stockholders due to effect of dilutive securities (0.5) — (1.1) Net income allocated to Class C common stock - diluted $ 5.1 $ 2.8 $ 4.1 Denominator: Weighted average shares of Class A common stock outstanding - basic (a) 66,009,448 57,738,871 52,303,968 Effect of dilutive securities: LLC Interests (b) 22,160,725 — 26,002,825 RSUs 1,684,179 1,112,793 596,944 Contingent shares — 196,686 — Weighted average shares of Class A common stock outstanding - diluted 89,854,352 59,048,350 78,903,737 Weighted average shares of Class C common stock outstanding - basic and diluted 1,668,826 1,942,054 3,864,579 Net income per share - Basic: Class A common stock $ 3.36 $ 1.45 $ 1.34 Class C common stock $ 3.36 $ 1.45 $ 1.34 Net income per share - Diluted: Class A common stock $ 3.03 $ 1.43 $ 1.05 Class C common stock $ 3.03 $ 1.43 $ 1.05 (a) For the years ended December 31, 2023 and 2022, included 3,741,398 and 78,285 shares that had been committed but not issued as of December 31, 2023 and 2022, respectively. Committed but not issued shares as of December 31, 2023 primarily relate to the acquisition of Finaro. (b) For the year ended December 31, 2023, 24,256,531 LLC Interests were excluded from the calculation of diluted net income per share as the effect would be anti-dilutive.

Segment (Tables)

Segment (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The following table presents a disaggregation of the Company’s consolidated net income: Year Ended December 31, (in millions) 2024 2023 2022 Payments-based revenue $ 2,990.1 $ 2,386.0 $ 1,857.1 Subscription and other revenues 340.5 178.8 136.5 Network fees* (1,976.2) (1,624.4) (1,266.1) Other costs of sales* (exclusive of depreciation of equipment under lease) (381.3) (252.6) (257.3) General and administrative expenses: Employee and other general and administrative expenses* (368.7) (251.2) (200.1) Equity-based compensation* (67.9) (59.1) (50.4) Rent, office, occupancy and equipment expenses* (22.9) (19.0) (16.9) Revaluation of contingent liabilities (4.0) (23.1) 36.6 Depreciation and amortization expense* (a) (199.5) (153.8) (96.5) Impairment of intangible assets — (18.6) — Professional expenses* (41.4) (33.1) (33.3) Advertising and marketing expenses* (21.7) (15.1) (14.9) Interest income 33.7 31.9 10.8 Other income (expense), net 1.8 (3.9) 0.5 Gain on investments in securities 66.7 12.2 15.1 Change in TRA liability (289.0) (3.4) (1.7) Interest expense* (61.8) (32.1) (32.5) Income tax benefit (expense)* 296.1 3.4 (0.2) Net income $ 294.5 $ 122.9 $ 86.7 * Denotes a significant segment expense reviewed by the CODM. (a) Depreciation and amortization expense includes depreciation of equipment under lease of $54.4 million, $35.3 million, and $28.4 million for the years ended December 31, 2024, 2023, and 2022, respectively.
Schedule of Revenue by Geographical Area	The following table presents a disaggregation of the Company’s revenue by geography: Year Ended December 31, (in millions) 2024 2023 2022 U.S. $ 2,770.7 $ 2,463.7 $ 1,985.6 International 559.9 101.1 8.0 Gross revenue $ 3,330.6 $ 2,564.8 $ 1,993.6
Schedule of Long-Lived Assets by Geographic Areas	The following table summarizes long-lived assets based on geography, which consist of Equipment for lease, net, Property, plant and equipment, net, and ROU assets: As of December 31, (in millions) 2024 2023 2022 U.S. $ 205.2 $ 169.2 $ 122.5 International 24.0 5.3 — Total long-lived assets $ 229.2 $ 174.5 $ 122.5

Organization, Basis of Presen_4

Organization, Basis of Presentation and Significant Accounting Policies - Narrative (Details)		1 Months Ended		3 Months Ended	12 Months Ended
	Nov. 05, 2019 USD ($)	Jul. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2024 USD ($) model vendor	Dec. 31, 2024 USD ($) Reporting_Unit model vendor	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 14, 2024 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Cash				$ 52,000,000	$ 52,000,000	$ 3,600,000
Current portion of TRA liability				4,300,000	4,300,000	1,800,000
Total debt				$ 2,841,000,000	$ 2,841,000,000	1,750,200,000
Number of settlement models | model				2	2
Merchant funds held at sponsorship bank					$ 6,600,000	9,000,000
Number of reporting units | Reporting_Unit					1
Impairment of intangible assets					$ 0	18,600,000	$ 0
Crypto settlement assets, current				$ 5,700,000	5,700,000	3,500,000
Crypto settlement liabilities, current						3,500,000
Estimated useful life, lease				4 years
Capitalized acquisition costs estimated life amortized period				4 years
Non-marketable equity securities totaled				$ 2,500,000	2,500,000	62,200,000
Proceeds from sale of non-marketable securities				$ 121,100,000	121,100,000
Research and development costs					$ 4,300,000	1,200,000	$ 500,000
Merchant processing, number of vendors | vendor				1	1
Bank sponsorship agreement term					180 days
Noncontrolling interests				$ 211,100,000	$ 211,100,000	$ 215,100,000
Vectron
Summary Of Significant Accounting Policies [Line Items]
Ownership percentage, noncontrolling owner				25%	25%
Minimum
Summary Of Significant Accounting Policies [Line Items]
Useful life of finite lived assets				1 year	1 year
Maximum
Summary Of Significant Accounting Policies [Line Items]
Useful life of finite lived assets				20 years	20 years
Residual commission buyouts from business combinations
Summary Of Significant Accounting Policies [Line Items]
Useful life of finite lived assets				8 years	8 years	8 years
Residual commission buyouts from asset acquisitions
Summary Of Significant Accounting Policies [Line Items]
Useful life of finite lived assets				4 years	4 years	4 years
The Giving Block
Summary Of Significant Accounting Policies [Line Items]
Current portion of TRA liability				$ 365,500,000	$ 365,500,000	$ 5,100,000
Vectron
Summary Of Significant Accounting Policies [Line Items]
Business acquisition, percentage of voting interests acquired				75%	75%
Consolidation, less than wholly owned subsidiary, percentage				100%	100%
Noncontrolling interests				$ 23,700,000	$ 23,700,000			$ 24,900,000
2025 Convertible Notes
Summary Of Significant Accounting Policies [Line Items]
Debt instrument, face amount			$ 690,000,000	690,000,000	690,000,000
Proceeds from 2025 notes offering			673,600,000
Total debt				686,900,000	686,900,000	683,600,000
2025 Convertible Notes | Convertible Notes
Summary Of Significant Accounting Policies [Line Items]
Proceeds from 2025 notes offering		$ 617,700,000	$ 673,600,000
2027 Convertible Notes
Summary Of Significant Accounting Policies [Line Items]
Total debt				626,000,000	626,000,000	$ 623,500,000
2027 Convertible Notes | Convertible Notes
Summary Of Significant Accounting Policies [Line Items]
Debt instrument, face amount		632,500,000		632,500,000	$ 632,500,000
Proceeds from 2025 notes offering		$ 617,700,000
Convertible Notes Due 2025 and Convertible Notes Due 2027
Summary Of Significant Accounting Policies [Line Items]
Proceeds from 2025 notes offering	$ 1,322,500,000
Settlement Line Credit Agreement | Line of Credit
Summary Of Significant Accounting Policies [Line Items]
Unused capacity, commitment fee percentage					0.15%
Long-term line of credit				73,200,000	$ 73,200,000
Settlement Line Credit Agreement | Line of Credit | SOFR
Summary Of Significant Accounting Policies [Line Items]
Debt instrument, floor rate					0%
Debt instrument, variable interest rate					0.75%
Settlement Line Credit Agreement | Line of Credit | Fed funds rate
Summary Of Significant Accounting Policies [Line Items]
Debt instrument, variable interest rate					0.50%
Settlement Line Credit Agreement | Line of Credit | Prime Rate
Summary Of Significant Accounting Policies [Line Items]
Debt instrument, variable interest rate					1%
Settlement Line Credit Agreement | Credit Facility | Line of Credit
Summary Of Significant Accounting Policies [Line Items]
Line of credit facility, maximum borrowing capacity				$ 100,000,000	$ 100,000,000

Organization, Basis of Presen_5

Organization, Basis of Presentation and Significant Accounting Policies - Schedule of Change in Presentation Within Consolidated Statements of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating activities
Settlement activity, net		$ 0
Net cash provided by operating activities	$ 500.3	346	$ 275.4
Financing activities
Settlement activity, net	54.8	42.3	0
Net cash used in financing activities	$ 929.2	(109.9)	$ (214.6)
As Previously Reported
Operating activities
Settlement activity, net		42.3
Net cash provided by operating activities		388.3
Financing activities
Settlement activity, net		0
Net cash used in financing activities		(152.2)
Adjustment
Operating activities
Settlement activity, net		(42.3)
Net cash provided by operating activities		(42.3)
Financing activities
Settlement activity, net		42.3
Net cash used in financing activities		$ 42.3

Organization, Basis of Presen_6

Organization, Basis of Presentation and Significant Accounting Policies - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 1,211.9	$ 455
Restricted cash	0	84.4
Cash and cash equivalents included in Settlement assets	226.7	182.4
Total cash and cash equivalents and restricted cash on the Consolidated Statements of Cash Flows	$ 1,438.6	$ 721.8

Organization, Basis of Presen_7

Organization, Basis of Presentation and Significant Accounting Policies - Schedule of Changes in Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 22.7	$ 18.1
Additions to expense	6.5	9.2	$ 10
Write-offs, net of recoveries and other adjustments	(8.2)	(4.6)
Ending balance	$ 21	$ 22.7	$ 18.1

Organization, Basis of Presen_8

Organization, Basis of Presentation and Significant Accounting Policies - Schedule of Estimated Useful Life of Each Asset Category (Details)	Dec. 31, 2024
Equipment | Minimum
Summary Of Significant Accounting Policies [Line Items]
Property plant and equipment useful life	3 years
Equipment | Maximum
Summary Of Significant Accounting Policies [Line Items]
Property plant and equipment useful life	5 years
Capitalized software | Minimum
Summary Of Significant Accounting Policies [Line Items]
Property plant and equipment useful life	3 years
Capitalized software | Maximum
Summary Of Significant Accounting Policies [Line Items]
Property plant and equipment useful life	5 years
Leasehold improvements | Minimum
Summary Of Significant Accounting Policies [Line Items]
Property plant and equipment useful life	5 years
Leasehold improvements | Maximum
Summary Of Significant Accounting Policies [Line Items]
Property plant and equipment useful life	10 years
Furniture and fixtures
Summary Of Significant Accounting Policies [Line Items]
Property plant and equipment useful life	5 years
Vehicles
Summary Of Significant Accounting Policies [Line Items]
Property plant and equipment useful life	5 years

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Millions					12 Months Ended
	Nov. 18, 2024	Nov. 08, 2024	Jun. 14, 2024	Jun. 13, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Payments to acquire businesses, net of cash acquired					$ 554.6	$ 169.7	$ 135.3
Vectron
Business Acquisition [Line Items]
Ownership percentage, noncontrolling owner					25%
Eigen
Business Acquisition [Line Items]
Payments to acquire businesses, net of cash acquired	$ 115
Eigen | Acquired technology
Business Acquisition [Line Items]
Weighted average life	1 year
Eigen | Merchant relationships
Business Acquisition [Line Items]
Weighted average life	15 years
Givex
Business Acquisition [Line Items]
Payments to acquire businesses, net of cash acquired		$ 127.8
Givex | Acquired technology
Business Acquisition [Line Items]
Weighted average life		10 years
Givex | Merchant relationships
Business Acquisition [Line Items]
Weighted average life		15 years
Givex | Trade Names
Business Acquisition [Line Items]
Weighted average life		3 years
Vectron
Business Acquisition [Line Items]
Business acquisition, percentage of voting interests acquired					75%
Business combination, consideration transferred, net of cash acquired			$ 62.7
Consolidation, less than wholly owned subsidiary, percentage					100%
Vectron | Acquired technology
Business Acquisition [Line Items]
Weighted average life			6 years 3 months 18 days
Vectron | Merchant relationships
Business Acquisition [Line Items]
Weighted average life			12 years 4 months 24 days
Vectron | Trade Names
Business Acquisition [Line Items]
Weighted average life			7 years
Revel
Business Acquisition [Line Items]
Payments to acquire businesses, net of cash acquired				$ 245.3
Business acquisition, percentage of voting interests acquired				100%
Revel | Acquired technology
Business Acquisition [Line Items]
Weighted average life				3 years
Revel | Merchant relationships
Business Acquisition [Line Items]
Weighted average life				10 years
Revel | Trade Names
Business Acquisition [Line Items]
Weighted average life				3 years

Acquisitions - Schedule of Purc

Acquisitions - Schedule of Purchase Price Included the Forms of Consideration (Details) € in Millions, $ in Millions					12 Months Ended
	Nov. 18, 2024 USD ($)	Nov. 08, 2024 USD ($)	Jun. 14, 2024 USD ($)	Jun. 13, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 14, 2024 EUR (€)
Business Acquisition [Line Items]
Total purchase consideration, net of cash acquired					$ 554.6	$ 169.7	$ 135.3
Noncontrolling interest					211.1	$ 215.1
Contingent liability earnouts for acquisitions					19
Eigen
Business Acquisition [Line Items]
Cash	$ 124.8
Less: cash acquired	(9.8)
Total purchase consideration, net of cash acquired	115
Fair value of net assets acquired	$ 115
Givex
Business Acquisition [Line Items]
Cash		$ 146
Less: cash acquired		(18.2)
Total purchase consideration, net of cash acquired		127.8
Fair value of net assets acquired		$ 127.8
Vectron
Business Acquisition [Line Items]
Cash			$ 66.9
Contingent consideration			2.9
Total purchase consideration			69.8
Less: cash acquired			(7.1)
Total purchase consideration, net of cash acquired			62.7
Noncontrolling interest			24.9		23.7
Fair value of net assets acquired			$ 87.6
Earnout range, low | €								€ 0
Earnout range, high | €								€ 7
Contingent liability earnouts for acquisitions					$ 3.8
Revel
Business Acquisition [Line Items]
Cash				$ 262.6
Less: cash acquired				(17.3)
Total purchase consideration, net of cash acquired				245.3
Fair value of net assets acquired				$ 245.3

Acquisitions - Schedule of Asse

Acquisitions - Schedule of Assets Acquired and Liabilities Assumed (Details) € in Millions, $ in Millions	Dec. 31, 2024 USD ($)	Nov. 18, 2024 USD ($)	Nov. 08, 2024 USD ($)	Jun. 14, 2024 USD ($)	Jun. 14, 2024 EUR (€)	Jun. 13, 2024 USD ($)	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Goodwill	$ 1,455.6						$ 1,111.3
Contingent consideration	26.2
Contingent liability earnouts, current	7.2
Contingent liability earnouts, noncurrent	19
Eigen
Business Acquisition [Line Items]
Accounts receivable		$ 1.7
Prepaid expenses and other current assets		0.3
Goodwill		76
Other intangible assets		52.4
Equipment for lease, net		0.5
Property, plant and equipment, net		0.3
Right-of-use assets		0.5
Accounts payable		(0.7)
Accrued expenses and other current liabilities		(0.5)
Deferred revenue		(0.8)
Current lease liabilities		(0.3)
Deferred tax liabilities		(14.2)
Noncurrent lease liabilities		(0.2)
Net assets acquired		115
Givex
Business Acquisition [Line Items]
Accounts receivable			$ 8.6
Inventory			2.2
Prepaid expenses and other current assets			1.2
Goodwill			84.3
Other intangible assets		$ 66.1	66.1
Property, plant and equipment, net			1.5
Right-of-use assets			1.1
Other noncurrent assets			1.7
Accounts payable			(4.8)
Accrued expenses and other current liabilities			(4.7)
Current lease liabilities			(0.4)
Current portion of long-term debt			(2.2)
Deferred tax liabilities			(17.5)
Noncurrent lease liabilities			(0.8)
Other noncurrent liabilities			(8.5)
Net assets acquired			$ 127.8
Vectron
Business Acquisition [Line Items]
Accounts receivable				$ 7.5
Inventory				3.4
Prepaid expenses and other current assets				6.3
Goodwill				80.7
Other intangible assets				30.1
Property, plant and equipment, net				1.5
Right-of-use assets				8.9
Other noncurrent assets				2.5
Accounts payable				(5.3)
Accrued expenses and other current liabilities				(6.6)
Deferred revenue				(4.6)
Current lease liabilities				(1.2)
Deferred tax liabilities				(9.5)
Noncurrent lease liabilities				(7.9)
Other noncurrent liabilities				(18.2)
Net assets acquired				$ 87.6
Earnout range, high | €					€ 7
Contingent liability earnouts, noncurrent	3.8
Acardo
Business Acquisition [Line Items]
Earnout range, high | €					€ 25
Contingent consideration	12.1
Contingent liability earnouts, current	0.7
Contingent liability earnouts, noncurrent	$ 11.4
Revel
Business Acquisition [Line Items]
Accounts receivable						$ 9.9
Inventory						1.8
Prepaid expenses and other current assets						4.4
Goodwill						123.1
Other intangible assets						118.9
Property, plant and equipment, net						0.3
Right-of-use assets						1.4
Deferred tax assets						7.9
Other noncurrent assets						0.3
Accounts payable						(6.6)
Accrued expenses and other current liabilities						(7.1)
Deferred revenue						(6.1)
Current lease liabilities						(0.6)
Noncurrent lease liabilities						(1)
Other noncurrent liabilities						(1.3)
Net assets acquired						$ 245.3

Acquisitions - Schedule of Prov

Acquisitions - Schedule of Provides Further Detail On Other Intangible Assets Acquired (Details) - USD ($) $ in Millions	Nov. 18, 2024	Nov. 08, 2024	Jun. 14, 2024	Jun. 13, 2024
Eigen
Business Acquisition [Line Items]
Other intangible assets	$ 52.4
Eigen | Merchant relationships
Business Acquisition [Line Items]
Other intangible assets	51.6
Eigen | Acquired technology
Business Acquisition [Line Items]
Other intangible assets	0.8
Givex
Business Acquisition [Line Items]
Other intangible assets	66.1	$ 66.1
Givex | Merchant relationships
Business Acquisition [Line Items]
Other intangible assets	58.2
Givex | Acquired technology
Business Acquisition [Line Items]
Other intangible assets	6.6
Givex | Trademark and trade names
Business Acquisition [Line Items]
Other intangible assets	$ 1.3
Vectron
Business Acquisition [Line Items]
Other intangible assets			$ 30.1
Vectron | Merchant relationships
Business Acquisition [Line Items]
Other intangible assets			26.8
Vectron | Acquired technology
Business Acquisition [Line Items]
Other intangible assets			2
Vectron | Trademark and trade names
Business Acquisition [Line Items]
Other intangible assets			$ 1.3
Revel
Business Acquisition [Line Items]
Other intangible assets				$ 118.9
Revel | Merchant relationships
Business Acquisition [Line Items]
Other intangible assets				106.3
Revel | Acquired technology
Business Acquisition [Line Items]
Other intangible assets				10.9
Revel | Trademark and trade names
Business Acquisition [Line Items]
Other intangible assets				$ 1.7

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) performanceObligation	Dec. 31, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Number of performance obligations | performanceObligation	3
Fee recognition period	1 year
Deferred revenue	$ 18.9	$ 22.5
Deferred revenue, recognized	$ 21.8

Revenue - Schedule of Disaggreg

Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total	$ 3,330.6	$ 2,564.8	$ 1,993.6
Payments-based revenue
Disaggregation of Revenue [Line Items]
Total	2,990.1	2,386	1,857.1
Subscription and other revenues
Disaggregation of Revenue [Line Items]
Total	$ 340.5	$ 178.8	$ 136.5

Goodwill (Details)

Goodwill (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2023	$ 1,111.3
Effect of foreign currency translation, adjustments related to prior period acquisitions, and other	(19.8)
Balance at December 31, 2024	1,455.6
Eigen
Goodwill [Roll Forward]
Acquisition	76
Givex
Goodwill [Roll Forward]
Acquisition	84.3
Vectron
Goodwill [Roll Forward]
Acquisition	80.7
Revel
Goodwill [Roll Forward]
Acquisition	$ 123.1

Depreciation and Amortization -

Depreciation and Amortization - Schedule of Depreciation and Amortization (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Amortization
Total depreciation and amortization		$ 231	$ 170.9	$ 115.5
Depreciation
Depreciation and amortization expense, equipment under lease		54.4	35.3	28.4
Depreciation and amortization expense property, plant and equipment		10.7	7.3	4.3
Total
Depreciation and amortization expense	[1]	199.5	153.8	96.5
Cost of sales		97.1	60.8	52.6
Total depreciation and amortization		296.6	214.6	149.1
Residual Commission Buyouts
Amortization
Depreciation and amortization expense		87.5	86.9	41.4
Cost of sales		0	0	0
Total depreciation and amortization		87.5	86.9	41.4
Other Intangible Assets
Amortization
Depreciation and amortization expense		46.9	24.3	22.4
Cost of sales		71.1	41.2	27.5
Total depreciation and amortization		118	65.5	49.9
Capitalized Customer Acquisition Costs
Amortization
Depreciation and amortization expense		0	0	0
Cost of sales		25.5	18.5	24.2
Total depreciation and amortization		25.5	18.5	24.2
Acquired Intangible Assets
Amortization
Total depreciation and amortization		167	127.8	77.9
Non-Acquired Intangible Assets
Amortization
Total depreciation and amortization		64	43.1	37.6
Equipment Under Lease
Depreciation
Cost of sales		0	0	0
Depreciation		54.4	35.3	28.4
Property, Plant and Equipment
Depreciation
Cost of sales		0.5	1.1	0.9
Depreciation		$ 11.2	$ 8.4	$ 5.2
[1] Depreciation and amortization expense includes depreciation of equipment under lease of $54.4 million, $35.3 million, and $28.4 million for the years ended December 31, 2024, 2023, and 2022, respectively.

Depreciation and Amortization_2

Depreciation and Amortization - Schedule of Estimated Amortization Expense (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Total Amortization
2025	$ 247.2
2026	188.4
2027	110.1
2028	72.9
2029	63.8
Thereafter	298.5
Net Carrying Value	980.9
Residual Commission Buyouts
Total Amortization
2025	88.6
2026	54.6
2027	6.1
2028	4.5
2029	1.5
Thereafter	1.9
Net Carrying Value	157.2	$ 229.6
Other Intangible Assets
Total Amortization
2025	132.3
2026	113.6
2027	90.2
2028	63.4
2029	62.3
Thereafter	296.6
Net Carrying Value	758.4	548.8
Capitalized Customer Acquisition Costs
Total Amortization
2025	26.3
2026	20.2
2027	13.8
2028	5
2029	0
Thereafter	0
Net Carrying Value	$ 65.3	$ 51.7

Residual Commission Buyouts (De

Residual Commission Buyouts (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Residual Commission Buyouts [Line Items]
Net Carrying Value	$ 980.9
Residual commission buyouts from asset acquisitions
Residual Commission Buyouts [Line Items]
Weighted Average Amortization Period (in years)	4 years	4 years
Carrying Value	$ 337.3	$ 323.6
Accumulated Amortization	(190.1)	(105.7)
Net Carrying Value	$ 147.2	$ 217.9
Residual commission buyouts from business combinations
Residual Commission Buyouts [Line Items]
Weighted Average Amortization Period (in years)	8 years	8 years
Carrying Value	$ 13.9	$ 13.9
Accumulated Amortization	(3.9)	(2.2)
Net Carrying Value	10	11.7
Residual Commission Buyouts
Residual Commission Buyouts [Line Items]
Carrying Value	351.2	337.5
Accumulated Amortization	(194)	(107.9)
Net Carrying Value	$ 157.2	$ 229.6

Other Intangible Assets, Net (D

Other Intangible Assets, Net (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Net Carrying Value	$ 980.9
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Carrying Value	1,033.1	$ 728.1
Accumulated Amortization	(274.7)	(179.3)
Net Carrying Value	$ 758.4	$ 548.8
Merchant relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)	12 years	11 years
Carrying Value	$ 584	$ 340.6
Accumulated Amortization	(95.4)	(57.8)
Net Carrying Value	$ 488.6	$ 282.8
Acquired technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)	8 years	9 years
Carrying Value	$ 269	$ 257.6
Accumulated Amortization	(112.3)	(80.8)
Net Carrying Value	$ 156.7	$ 176.8
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)	12 years	13 years
Carrying Value	$ 29.4	$ 28.1
Accumulated Amortization	(8.5)	(6.3)
Net Carrying Value	$ 20.9	$ 21.8
Capitalized software development costs
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)	3 years	3 years
Carrying Value	$ 150.7	$ 98.8
Accumulated Amortization	(58.5)	(34.1)
Net Carrying Value	$ 92.2	$ 64.7
Banking license
Finite-Lived Intangible Assets [Line Items]
Weighted Average Amortization Period (in years)		2 years
Carrying Value		$ 3
Accumulated Amortization		(0.3)
Net Carrying Value		$ 2.7

Capitalized Customer Acquisit_3

Capitalized Customer Acquisition Costs, Net (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Weighted Average Amortization Period (in years)	4 years	4 years
Carrying Value	$ 118.1	$ 96.6
Accumulated Amortization	(52.8)	(44.9)
Net Carrying Value	$ 65.3	$ 51.7

Equipment for Lease, Net (Detai

Equipment for Lease, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Operating Leased Assets [Line Items]
Carrying Value	$ 258.1	$ 192.7
Accumulated Depreciation	(93)	(69.6)
Net Carrying Value	$ 165.1	$ 123.1
Equipment under lease
Operating Leased Assets [Line Items]
Weighted Average Depreciation Period (in years)	4 years	4 years
Carrying Value	$ 243.6	$ 181.2
Accumulated Depreciation	(93)	(69.6)
Net Carrying Value	150.6	111.6
Equipment held for lease
Operating Leased Assets [Line Items]
Carrying Value	14.5	11.5
Accumulated Depreciation	0	0
Net Carrying Value	$ 14.5	$ 11.5

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 47.8	$ 46.7
Less: Accumulated depreciation	(20.6)	(18.1)
Total property, plant and equipment, net	27.2	28.6
Equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	21	21.9
Capitalized software
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	4.4	3.5
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	19.5	18.7
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	2.4	2.2
Vehicles
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 0.5	$ 0.4

Debt - Schedule of Outstanding

Debt - Schedule of Outstanding Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt principal	$ 2,872.5
Less: Unamortized capitalized financing fees	(31.5)	$ (22.3)
Total debt	2,841	1,750.2
Current portion of debt	686.9	0
Long-term debt	2,154.1	1,750.2
Senior Notes
Debt Instrument [Line Items]
Total debt principal	$ 2,872.5	1,772.5
2032 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Effective Interest Rate	6.92%
Total debt principal	$ 1,100	0
Total debt	1,088.7
2025 Convertible Notes
Debt Instrument [Line Items]
Less: Unamortized capitalized financing fees	(3.1)	(6.4)
Total debt	$ 686.9	683.6
2025 Convertible Notes | Senior Notes
Debt Instrument [Line Items]
Effective Interest Rate	0.49%
Total debt principal	$ 690	690
2027 Convertible Notes
Debt Instrument [Line Items]
Less: Unamortized capitalized financing fees	(6.5)	(9)
Total debt	$ 626	623.5
2027 Convertible Notes | Senior Notes
Debt Instrument [Line Items]
Effective Interest Rate	0.90%
Total debt principal	$ 632.5	632.5
2026 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Effective Interest Rate	5.13%
Total debt principal	$ 450	450
Less: Unamortized capitalized financing fees	(4.1)	(6.3)
Total debt	$ 445.9	$ 443.7

Debt - Narrative (Details)

Debt - Narrative (Details)		1 Months Ended					12 Months Ended
	Nov. 05, 2019 USD ($)	Sep. 30, 2024 USD ($)	Aug. 31, 2024	Jul. 31, 2021 USD ($) day $ / shares	Dec. 31, 2020 USD ($) day $ / shares	Oct. 31, 2020 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2020 USD ($) $ / shares	Jan. 29, 2021 USD ($)
Debt Instrument [Line Items]
Amortization of capitalized financing fees and debt discount							$ 9,300,000	$ 8,300,000	$ 8,100,000
Unamortized capitalized financing costs							(31,500,000)	(22,300,000)
Total debt							2,841,000,000	1,750,200,000
Line of Credit
Debt Instrument [Line Items]
Amortization of capitalized financing fees and debt discount		$ 4,300,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Total debt							$ 0
Line of credit facility, maximum borrowing capacity		450,000,000									$ 100,000,000
Unused capacity, commitment fee percentage							0.25%
Line of Credit | Revolving Credit Facility | Fed funds rate
Debt Instrument [Line Items]
Debt instrument, variable interest rate							0.50%
Line of Credit | Revolving Credit Facility | Prime Rate
Debt Instrument [Line Items]
Debt instrument, variable interest rate							1%
Line of Credit | Revolving Credit Facility | Variable Rate Component One | SOFR
Debt Instrument [Line Items]
Debt instrument, floor rate							0%
Debt instrument, variable interest rate							2%
Line of Credit | Revolving Credit Facility | Variable Rate Component Two | SOFR
Debt Instrument [Line Items]
Debt instrument, floor rate							0%
Debt instrument, variable interest rate							1%
Line of Credit | Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 112,500,000
2025 Convertible Notes
Debt Instrument [Line Items]
Debt instrument, face amount					$ 690,000,000		$ 690,000,000			$ 690,000,000
Proceeds from 2025 notes offering					$ 673,600,000
Unamortized capitalized financing costs							(3,100,000)	(6,400,000)
Total debt							686,900,000	683,600,000
2025 Convertible Notes | Class A Common Stock
Debt Instrument [Line Items]
Debt instrument, conversion price per share | $ / shares					$ 80.48					$ 80.48
2025 Convertible Notes | Convertible Notes
Debt Instrument [Line Items]
Proceeds from 2025 notes offering				$ 617,700,000	$ 673,600,000
Debt issuance costs					$ 16,400,000
2027 Convertible Notes
Debt Instrument [Line Items]
Unamortized capitalized financing costs							(6,500,000)	(9,000,000)
Total debt							626,000,000	623,500,000
2027 Convertible Notes | Convertible Notes
Debt Instrument [Line Items]
Debt instrument, face amount				632,500,000			$ 632,500,000
Proceeds from 2025 notes offering				$ 617,700,000
Debt instrument, interest rate, stated percentage				0.50%
Debt issuance costs				$ 14,800,000
2027 Convertible Notes | Convertible Notes | Class A Common Stock
Debt Instrument [Line Items]
Debt instrument initial conversion of shares				8.1524
Debt instrument, conversion price per share | $ / shares				$ 122.66
Convertible Notes Due 2025 and Convertible Notes Due 2027
Debt Instrument [Line Items]
Proceeds from 2025 notes offering	$ 1,322,500,000
Debt instrument, redemption price percentage					100%
Convertible Notes Due 2025 and Convertible Notes Due 2027 | Period one, subset one
Debt Instrument [Line Items]
Debt Instrument, convertible price percentage				130%
Debt Instrument, number of trading days | day				20
Debt Instrument, number of consecutive trading days | day				30
Convertible Notes Due 2025 and Convertible Notes Due 2027 | Period one, subset two
Debt Instrument [Line Items]
Debt Instrument, convertible price percentage				98%
Debt Instrument, number of consecutive trading days | day				5
Debt instrument number of business days | day				10
Convertible Notes Due 2025 and Convertible Notes Due 2027 | Period two
Debt Instrument [Line Items]
Debt Instrument, convertible price percentage					130%
Debt Instrument, number of trading days | day					20
Debt Instrument, number of consecutive trading days | day					30
Period prior to maturity date for conversion | day					40
2026 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount						$ 450,000,000
Debt instrument, interest rate, stated percentage						4.625%	4.625%
Debt issuance costs						$ 7,600,000
Unamortized capitalized financing costs							$ (4,100,000)	(6,300,000)
Total debt							445,900,000	$ 443,700,000
Proceeds from notes offering						$ 442,800,000
Redemption period minimum term						10 days
Redemption period maximum term						60 days
Debt instrument, capitalized amount						$ 4,500,000
2026 Senior Notes | Senior Notes | Minimum
Debt Instrument [Line Items]
Debt instrument, redemption percentage						50%
2032 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount							$ 1,100,000,000
Debt instrument, interest rate, stated percentage							6.75%
Total debt							$ 1,088,700,000
Redemption period minimum term			10 days
Redemption period maximum term			60 days
Debt instrument, redemption price percentage			40%
2032 Senior Notes | Senior Notes | Minimum
Debt Instrument [Line Items]
Debt instrument, redemption percentage			50%
2032 Senior Notes | Senior Notes | Period two
Debt Instrument [Line Items]
Debt instrument, redemption percentage			106.75%
2032 Senior Notes | Senior Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt instrument, redemption percentage			100%
Convertible Senior Notes Due 2025 | Convertible Notes
Debt Instrument [Line Items]
Debt instrument initial conversion of shares										0.0124262

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Long-term Debt (Details) $ in Millions	Dec. 31, 2024 USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
2025	$ 690
2026	450
2027	632.5
Thereafter	1,100
Total	$ 2,872.5

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
	Sep. 29, 2022	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration for acquisitions		$ 26.2	$ 26.2
Contingent liability earnouts		7.2	7.2
Contingent liability earnouts for acquisitions		19	19
Non-marketable equity securities totaled		2.5	2.5	$ 62.2
Proceeds from sale of non-marketable securities		121.1	121.1
Crypto settlement assets, current		$ 5.7	$ 5.7	$ 3.5
Online Payments Group
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent liability earnouts	$ 30
Contingent liability earnouts for acquisitions	30
Earnout range, high	$ 60
Contingent consideration, equity interests issued and issuable, earnout percentage	50%
Contingent consideration, cash, earnout percentage	50%

Fair Value Measurement - Schedu

Fair Value Measurement - Schedule of Reconciliation of Beginning and Ending Balances for Level 3 Contingent Liabilities (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 33.6
Contingent consideration	22.8
Fair value adjustments	4.3
Impact of foreign exchange	(1.6)
Contingent liabilities that achieved earnout	(32.9)
Balance at end of period	$ 26.2
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Revaluation of contingent liabilities
Contingent Liabilities for Acquisitions
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 32.2
Contingent consideration	22.8
Fair value adjustments	4
Impact of foreign exchange	(1.6)
Contingent liabilities that achieved earnout	(31.2)
Balance at end of period	26.2
Contingent Liabilities for Assets Acquired
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	1.4
Contingent consideration	0
Fair value adjustments	0.3
Impact of foreign exchange	0
Contingent liabilities that achieved earnout	(1.7)
Balance at end of period	$ 0

Fair Value Measurement - Sche_2

Fair Value Measurement - Schedule of Estimated Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Line of Credit | Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unamortized debt issuance costs	$ 4.3	$ 0.6
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	2,845.3	1,750.8
Carrying Value | 2032 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	1,086.5	0
Carrying Value | 2025 Convertible Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	686.9	683.6
Carrying Value | 2027 Convertible Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	626	623.5
Carrying Value | 2026 Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	445.9	443.7
Fair Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	3,174.4	1,797.9
Fair Value | 2032 Senior Notes | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	1,119.4	0
Fair Value | 2025 Convertible Notes | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	927.8	766.5
Fair Value | 2027 Convertible Notes | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	684	593.2
Fair Value | 2026 Senior Notes | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 443.2	$ 438.2

Income Taxes - Summary of Compo

Income Taxes - Summary of Components of Income Tax Benefit (Provision) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current
Federal	$ (11.2)	$ (0.7)	$ (0.3)
State	(3.7)	(0.4)	0
Foreign	(11)	(4.2)	(2)
Total current income tax benefit (provision)	(25.9)	(5.3)	(2.3)
Deferred
Federal	252	5.5	0.9
State	65.9	2.3	1
Foreign	4.1	0.9	0.2
Total deferred income tax benefit (provision)	322	8.7	2.1
Total income tax benefit (provision)	$ 296.1	$ 3.4	$ (0.2)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of United States Statutory Income Tax Rate to Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Federal statutory rate	21%	21%	21%
Noncontrolling interests/effect of pass-through entities (LLC income (loss))	850%	(6.50%)	(3.30%)
State income taxes, net of federal benefit	(250.00%)	25.90%	(13.30%)
Permanent items	106.30%	2.10%	0.80%
Impacts of business combinations	0%	0%	(7.40%)
Impacts of Recording Tax Receivable Agreement	2.625	0	0
Change in fair value of contingent consideration	0%	0.90%	(11.50%)
Foreign rate differential	450%	0.40%	1.70%
Unrecognized tax benefit	0%	0%	1%
Change in valuation allowance	18,100%	(47.40%)	9.10%
Equity-based compensation	6.30%	0.20%	2.30%
Research and development tax credits	93.70%	0%	0%
U.S. taxation of worldwide subsidiaries, net of foreign tax credits	(1137.50%)	0%	0%
Other	4%	0.60%	(0.20%)
Effective income tax rate	18,506.30%	(2.80%)	0.20%

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Domestic	$ (61.4)	$ 110	$ 89.6
Foreign	59.8	9.5	(2.7)
Income (loss) before income taxes	$ (1.6)	$ 119.5	$ 86.9

Income Taxes - Details of Defer

Income Taxes - Details of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Investment in Shift4 Payments, LLC	$ 465.3	$ 249.4
Net operating loss and tax credits carryforward	84	87.6
Lease liabilities	5.5	1.7
Equity-based compensation	8.3	6.3
Accrued expenses	1.9	2.4
Other	19.2	6.4
Subtotal	584.2	353.8
Valuation allowance	(137.4)	(334.1)
Total deferred tax assets	446.8	19.7
Deferred tax liabilities:
Intangible assets	(100.4)	(38.6)
Fixed assets	(1.3)	(2.1)
Right-of-use assets	(4.9)	(2)
Other liabilities	(4)	(5)
Total deferred tax liabilities	(110.6)	(47.7)
Net deferred tax asset (liability)	$ 336.2
Net deferred tax asset (liability)		$ (28)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Line Items]
Deferred tax assets, cumulative loss position previously incurred, period	3 years
Uncertain tax positions	$ 10.4	$ 4.7	$ 8	$ 0
Tax receivable agreement, recognized liability	365.5	5.1
Payment to continuing equity owners	1.7	$ 0	$ 0
Valuation Allowance Release On Shift4 Payments
Income Taxes [Line Items]
Discrete tax benefit	289
Rook
Income Taxes [Line Items]
Deferred tax assets	526.1
Tax receivable agreement liability	447.2
Federal
Income Taxes [Line Items]
Net operating loss carryforwards	279.3
Operating loss carryforwards, not subject to expiration	187
Federal | Earliest Tax Year
Income Taxes [Line Items]
Net operating loss carryforwards	$ 92.3
Net operating loss carryforward period	20 years
State
Income Taxes [Line Items]
Net operating loss carryforwards	$ 341.2

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation of Total Amounts of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]
Beginning balance	$ 4.7	$ 8	$ 0
Increase related to current year tax positions	0.7	0.8	0.9
Increase attributable to positions acquired through business combinations	6	0.9	7.1
Decrease related to prior year tax positions	(0.2)	0	0
Decrease attributable to measurement period adjustments	0	(5)
Decrease attributable to statute of limitation expirations	(0.8)	0	0
Ending balance	10.4	4.7	8
Total amount of interest and penalties recognized in the Consolidated Statements of Operations	0.6	0.7	0.1
Total amount of interest and penalties recognized in the Consolidated Balance Sheets	$ 2	$ 1.9	$ 1.8

Lease Agreements - Summary of E

Lease Agreements - Summary of Expected Payments Related to Non-cancellable Lease Terms (Topic 842) (Details) $ in Millions	Dec. 31, 2024 USD ($)
Lessee, Operating Lease, Liability, to be Paid [Abstract]
2025	$ 12.3
2026	10.8
2027	8.6
2028	5.6
2029	3.1
Thereafter	4.2
Total lease payments	44.6
Less: Interest	(4.3)
Present value of minimum payments	$ 40.3

Lease Agreements - Narrative (D

Lease Agreements - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 14	$ 10.1	$ 6.6
Operating lease, short term expense	2.5	0.9
Operating lease, variable lease expense	2.5	2
Operating lease payments included in operating cash flows	10.3	7.2	5.7
Non-cash additions to operating lease assets	$ 11.4	6.2	6.1
Operating lease, renewal term	1 year
Gross revenue	$ 3,330.6	$ 2,564.8	$ 1,993.6

Lease Agreements - Additional I

Lease Agreements - Additional Information Related to Operating Leases (Details)	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted average remaining in lease term (in years):	4 years 6 months	4 years
Weighted average discount rate	5.10%	5.10%

Related Party Transactions (Det

Related Party Transactions (Details)	1 Months Ended	12 Months Ended
	Sep. 30, 2021 contract $ / Unit shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Nov. 30, 2021
Related Party Transaction [Line Items]
General and administrative expense | $		$ 459,500,000	$ 329,300,000	$ 267,400,000
Distributions to noncontrolling interests | $		$ 19,800,000	2,900,000	0
Discretionary equity award, funding percentage					50%
Discretionary equity award, contribution (in shares)		468,997
Rook
Related Party Transaction [Line Items]
Right to exchange and sell limited liability company shares by lender upon default (in shares)		15,000,000
Class C Common Stock
Related Party Transaction [Line Items]
Stock exchange (in shares)		99,269
Class B Common Stock
Related Party Transaction [Line Items]
Stock exchange (in shares)		4,030,855
Related Party
Related Party Transaction [Line Items]
General and administrative expense | $		$ 1,000,000	1,000,000	$ 1,000,000
Other liabilities, current | $		$ 0	$ 0
Related Party | VPF Contracts With Dealer
Related Party Transaction [Line Items]
Number of VPF contracts | contract	2
Related Party | VPF Contract With Dealer Number One
Related Party Transaction [Line Items]
Forward cap price (in dollars per share) | $ / Unit	112.09
Related Party | VPF Contract With Dealer Number Two
Related Party Transaction [Line Items]
Forward floor price (in dollars per share) | $ / Unit	66.424
Forward cap price (in dollars per share) | $ / Unit	120.39
Related Party | Class A Common Stock | VPF Contract With Dealer Number One
Related Party Transaction [Line Items]
Number of shares covering under contract (in shares)	2,180,000
Related Party | Class A Common Stock | VPF Contract With Dealer Number Two
Related Party Transaction [Line Items]
Number of shares covering under contract (in shares)	2,260,000
Related Party | Class B Common Stock | Variable Prepaid Forward Contract | Maximum
Related Party Transaction [Line Items]
Number of shares pledged under contract (in shares)	4,440,000

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	May 31, 2024
Class of Stock [Line Items]
Stock repurchase program, authorized amount				$ 500,000,000
Repurchases of Class A common stock	$ 145,900,000	$ 105,400,000	$ 184,400,000
Class A Common Stock
Class of Stock [Line Items]
Treasury stock acquired (in shares)	1,605,488	1,663,311
Repurchases of Class A common stock	$ 145,900,000	$ 105,400,000
Treasury stock acquired (in dollars per share)	$ 90.83	$ 63.33

Noncontrolling Interests - Narr

Noncontrolling Interests - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Jun. 14, 2024	Dec. 31, 2023
Noncontrolling Interest [Line Items]
Noncontrolling interests balance	$ 187.4		$ 215.1
Temporary equity, convertible, conversion ratio	1
Noncontrolling interests	$ 211.1		$ 215.1
Vectron
Noncontrolling Interest [Line Items]
Business acquisition, percentage of voting interests acquired	75%
Consolidation, less than wholly owned subsidiary, percentage	100%
Noncontrolling interests	$ 23.7	$ 24.9
Vectron
Noncontrolling Interest [Line Items]
Ownership percentage, noncontrolling owner	25%

Noncontrolling Interests - Sche

Noncontrolling Interests - Schedule of Ownership of LLC Interests (Details) - Shift4 Payments, LLC. - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Noncontrolling Interest [Line Items]
LLC Interests (in shares)	89,058,159	89,932,367
Total
Noncontrolling Interest [Line Items]
Ownership %	100%	100%
Shift4 Payments, Inc.
Noncontrolling Interest [Line Items]
LLC Interests (in shares)	69,257,131	66,100,484
Ownership %	77.80%	73.50%
LLC interests, committed but not issued (in shares)		3,700,000
Rook
Noncontrolling Interest [Line Items]
LLC Interests (in shares)	19,801,028	23,831,883
Ownership %	22.20%	26.50%

Equity-based Compensation - Nar

Equity-based Compensation - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Mar. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation			$ 65.5	$ 57.4	$ 49.6
Restricted Stock Units And Performance Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized equity-based compensation expense			$ 89.5
Unrecognized equity-based compensation expense expected to be recognized over weighted-average period			2 years 18 days
Restated Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding shares of all classes of common stock	2%
2020 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum common stock available for issuance (in shares)			1,786,598
2020 Incentive Award Plan | Forecast | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional common stock available for issuance (in shares)		1,824,550

Equity-based Compensation - RSU

Equity-based Compensation - RSUs Expected to Vest Each Year (Details) - RSUs - shares	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	2,169,343	2,345,210	2,465,355	2,402,694
2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	1,003,640
2026
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	790,669
2027
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	355,273
2028
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	19,761
Granted in 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	394,785
Granted in 2021 | 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	196,695
Granted in 2021 | 2026
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	198,090
Granted in 2021 | 2027
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	0
Granted in 2021 | 2028
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	0
Granted in 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	321,550
Granted in 2022 | 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	190,507
Granted in 2022 | 2026
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	65,225
Granted in 2022 | 2027
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	65,818
Granted in 2022 | 2028
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	0
Granted in 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	668,760
Granted in 2023 | 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	300,584
Granted in 2023 | 2026
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	229,430
Granted in 2023 | 2027
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	121,896
Granted in 2023 | 2028
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	16,850
Granted in 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	784,248
Granted in 2024 | 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	315,854
Granted in 2024 | 2026
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	297,924
Granted in 2024 | 2027
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	167,559
Granted in 2024 | 2028
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares expected to vest (in shares)	2,911

Equity-based Compensation - Sch

Equity-based Compensation - Schedule of RSU Activity (Details) - RSUs - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of RSUs and PRSUs
Unvested balance at beginning of period (in shares)	2,345,210	2,465,355	2,402,694
Granted (in shares)	1,160,816	1,415,102	1,143,956
Vested (in shares)	(1,021,787)	(1,096,241)	(825,720)
Forfeited or cancelled (in shares)	(314,896)	(439,006)	(255,575)
Unvested balance at end of period (in shares)	2,169,343	2,345,210	2,465,355
Weighted Average Grant Date Fair Value
Unvested balance at beginning of period (in dollars per share)	$ 57.35	$ 47.57	$ 43.28
Granted (in dollars per share)	67.22	63.87	45.20
Vested (in dollars per share)	58.05	44.19	35.51
Forfeited or cancelled (in dollars per share)	58.53	55.22	54.75
Unvested balance at end of period (in dollars per share)	$ 62.13	$ 57.35	$ 47.57

Basic and Diluted Net Income _3

Basic and Diluted Net Income per Share - Schedule of Calculation of Basic and Diluted Net Income per Share (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share Basic and Diluted [Line Items]
Net income	$ 294.5	$ 122.9	$ 86.7
Less: Net income attributable to noncontrolling interests	(64.9)	(36.7)	(11.6)
Adjustment to net income attributable to common stockholders	(2.4)	0	0
Net income attributable to common stockholders - basic	227.2	86.2	75.1
Reallocation of net income from noncontrolling interests to common stockholders due to effect of dilutive securities	50.3	0.7	11.6
Net income attributable to common stockholders - diluted	$ 277.5	$ 86.9	$ 86.7
Denominator:
Weighted average shares of common stock outstanding, basic (in shares)	1,668,826	1,942,054	3,864,579
Weighted average shares of common stock outstanding, diluted (in shares)	1,668,826	1,942,054	3,864,579
Net income per share - Diluted:
Common stock, shares subscribed but unissued (in shares)		3,741,398	78,285
L L C interests convert into potential class A common shares
Net income per share - Diluted:
Antidilutive securities excluded from computation of net loss per share (in shares)		24,256,531
Class A Common Stock
Earnings Per Share Basic and Diluted [Line Items]
Net income attributable to common stockholders - basic	$ 221.6	$ 83.4	$ 69.9
Reallocation of net income from noncontrolling interests to common stockholders due to effect of dilutive securities	50.8	0.7	12.7
Net income attributable to common stockholders - diluted	$ 272.4	$ 84.1	$ 82.6
Denominator:
Weighted average shares of common stock outstanding, basic (in shares)	66,009,448	57,738,871	52,303,968
Weighted average shares of common stock outstanding, diluted (in shares)	89,854,352	59,048,350	78,903,737
Net income per share - Basic:
Net income per share - basic (in dollars per share)	$ 3.36	$ 1.45	$ 1.34
Net income per share - Diluted:
Net income per share - diluted (in dollars per share)	$ 3.03	$ 1.43	$ 1.05
Class A Common Stock | LLC Interests
Denominator:
Effect of dilutive securities (in shares)	22,160,725	0	26,002,825
Class A Common Stock | RSUs
Denominator:
Effect of dilutive securities (in shares)	1,684,179	1,112,793	596,944
Class A Common Stock | Contingent shares
Denominator:
Effect of dilutive securities (in shares)	0	196,686	0
Class C Common Stock
Earnings Per Share Basic and Diluted [Line Items]
Net income attributable to common stockholders - basic	$ 5.6	$ 2.8	$ 5.2
Reallocation of net income from noncontrolling interests to common stockholders due to effect of dilutive securities	(0.5)	0	(1.1)
Net income attributable to common stockholders - diluted	$ 5.1	$ 2.8	$ 4.1
Denominator:
Weighted average shares of common stock outstanding, basic (in shares)	1,668,826	1,942,054	3,864,579
Weighted average shares of common stock outstanding, diluted (in shares)	1,668,826	1,942,054	3,864,579
Net income per share - Basic:
Net income per share - basic (in dollars per share)	$ 3.36	$ 1.45	$ 1.34
Net income per share - Diluted:
Net income per share - diluted (in dollars per share)	$ 3.03	$ 1.43	$ 1.05

Segments - Narrative (Details)

Segments - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 vendor
Segment Reporting [Abstract]
Number of operating segment	1
Number of reportable segment	1

Segment - Schedule of Disaggreg

Segment - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Gross revenue		$ 3,330.6	$ 2,564.8	$ 1,993.6
General and administrative expenses:
Equity-based compensation		65.5	57.4	49.6
Revaluation of contingent liabilities		(4)	(23.1)	36.6
Depreciation and amortization expense	[1]	199.5	153.8	96.5
Impairment of intangible assets		0	18.6	0
Professional expenses		(41.4)	(33.1)	(33.3)
Advertising and marketing expenses		(21.7)	(15.1)	(14.9)
Interest income		33.7	31.9	10.8
Other income (expense), net		1.8	(3.9)	0.5
Gain on investments in securities		66.7	12.2	15.1
Change in TRA liability		(289)	(3.4)	(1.7)
Interest expense		(61.8)	(32.1)	(32.5)
Income tax benefit (expense)		296.1	3.4	(0.2)
Net income		294.5	122.9	86.7
Depreciation and amortization expenses of equipment		54.4	35.3	28.4
Reportable Segment
Segment Reporting Information [Line Items]
Network fees		(1,976.2)	(1,624.4)	(1,266.1)
Other costs of sales (exclusive of depreciation of equipment under lease)		(381.3)	(252.6)	(257.3)
General and administrative expenses:
Employee expenses, excluding equity-based compensation		(368.7)	(251.2)	(200.1)
Equity-based compensation		(67.9)	(59.1)	(50.4)
Rent, office, occupancy and equipment expenses		(22.9)	(19)	(16.9)
Revaluation of contingent liabilities		(4)	(23.1)	36.6
Depreciation and amortization expense		(199.5)	(153.8)	(96.5)
Impairment of intangible assets		0	(18.6)	0
Professional expenses		(41.4)	(33.1)	(33.3)
Advertising and marketing expenses		(21.7)	(15.1)	(14.9)
Interest income		33.7	31.9	10.8
Other income (expense), net		1.8	(3.9)	0.5
Gain on investments in securities		66.7	12.2	15.1
Change in TRA liability		(289)	(3.4)	(1.7)
Interest expense		(61.8)	(32.1)	(32.5)
Income tax benefit (expense)		296.1	3.4	(0.2)
Net income		294.5	122.9	86.7
Payments-based revenue
Segment Reporting Information [Line Items]
Gross revenue		2,990.1	2,386	1,857.1
Payments-based revenue | Reportable Segment
Segment Reporting Information [Line Items]
Gross revenue		2,990.1	2,386	1,857.1
Subscription and other revenues
Segment Reporting Information [Line Items]
Gross revenue		340.5	178.8	136.5
Subscription and other revenues | Reportable Segment
Segment Reporting Information [Line Items]
Gross revenue		$ 340.5	$ 178.8	$ 136.5
[1] Depreciation and amortization expense includes depreciation of equipment under lease of $54.4 million, $35.3 million, and $28.4 million for the years ended December 31, 2024, 2023, and 2022, respectively.

Segments - Schedule of Revenue

Segments - Schedule of Revenue by Geographical Area (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Gross revenue	$ 3,330.6	$ 2,564.8	$ 1,993.6
U.S.
Segment Reporting Information [Line Items]
Gross revenue	2,770.7	2,463.7	1,985.6
International
Segment Reporting Information [Line Items]
Gross revenue	$ 559.9	$ 101.1	$ 8

Segments - Schedule of Long-Liv

Segments - Schedule of Long-Lived Assets by Geographic Areas (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 229.2	$ 174.5	$ 122.5
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	205.2	169.2	122.5
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 24	$ 5.3	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - Feb. 16, 2025 - Subsequent Event $ / shares in Units, $ in Millions	USD ($) day $ / shares	SFr / shares
Subsequent Event [Line Items]
Transaction agreement, threshold commencement days, maximum | day	25
Bridge Loan | Bridge Facilities
Subsequent Event [Line Items]
Debt instrument, term	364 days
Debt instrument, face amount	$ 1,795
Bridge Loan | Senior Secured Bridge Facility
Subsequent Event [Line Items]
Debt instrument, term	364 days
Debt instrument, face amount	$ 1,000
Bridge Loan | Senior Unsecured Bridge Facility
Subsequent Event [Line Items]
Debt instrument, term	364 days
Debt instrument, face amount	$ 795
Revolving Credit Facility
Subsequent Event [Line Items]
Long-term line of credit	$ 450
Global Blue Common Shares
Subsequent Event [Line Items]
Common stock, par value (in dollars per share) | SFr / shares		SFr 0.01
Treasury stock acquired (in dollars per share) | $ / shares	$ 7.50
Global Blue Series A Shares
Subsequent Event [Line Items]
Common stock, par value (in dollars per share) | SFr / shares		0.01
Treasury stock acquired (in dollars per share) | $ / shares	10
Global Blue Series B Shares
Subsequent Event [Line Items]
Common stock, par value (in dollars per share) | SFr / shares		SFr 0.01
Treasury stock acquired (in dollars per share) | $ / shares	$ 11.81
Global Blue Shares
Subsequent Event [Line Items]
Transaction agreement, percentage of ownership after transaction	90%