ACI Worldwide (ACIW) 10-Q 4 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 02, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	0-25346
Entity Registrant Name	ACI WORLDWIDE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-0772104
Entity Address, Address Line One	600 Brickell Avenue
Entity Address, Address Line Two	Suite 1500, PMB #11
Entity Address, City or Town	Miami,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33131
City Area Code	305
Local Phone Number	894-2200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		117,566,450
Title of 12(b) Security	Common Stock, $0.005 par value
Trading Symbol	ACIW
Security Exchange Name	NASDAQ
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000935036
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 141,482	$ 165,374
Receivables, net of allowances of $2,544 and $3,912, respectively	299,336	342,879
Settlement assets	510,477	605,008
Prepaid expenses	29,820	24,288
Other current assets	30,420	17,365
Total current assets	1,011,535	1,154,914
Noncurrent assets
Accrued receivables, net	196,676	215,772
Property and equipment, net	61,689	64,734
Operating lease right-of-use assets	49,438	41,243
Software, net	166,936	196,456
Goodwill	1,280,226	1,280,226
Intangible assets, net	292,659	321,983
Deferred income taxes, net	64,775	57,476
Other noncurrent assets	60,556	54,099
TOTAL ASSETS	3,184,490	3,386,903
Current liabilities
Accounts payable	35,318	41,223
Settlement liabilities	512,980	604,096
Employee compensation	46,689	48,560
Current portion of long-term debt	40,967	34,265
Deferred revenue	105,725	95,849
Other current liabilities	61,806	81,612
Total current liabilities	803,485	905,605
Noncurrent liabilities
Deferred revenue	32,912	33,564
Long-term debt	1,033,353	1,120,742
Deferred income taxes, net	31,951	40,504
Operating lease liabilities	45,354	39,958
Other noncurrent liabilities	41,881	39,933
Total liabilities	1,988,936	2,180,306
Commitments and contingencies
Stockholders’ equity
Preferred stock; $0.01 par value; 5,000,000 shares authorized; no shares issued at September 30, 2021, and December 31, 2020	0	0
Common stock; $0.005 par value; 280,000,000 shares authorized; 140,525,055 shares issued at September 30, 2021, and December 31, 2020	702	702
Additional paid-in capital	683,044	682,431
Retained earnings	1,021,810	1,003,490
Treasury stock, at cost, 22,994,595 and 23,412,870 shares at September 30, 2021, and December 31, 2020, respectively	(411,684)	(387,581)
Accumulated other comprehensive loss	(98,318)	(92,445)
Total stockholders’ equity	1,195,554	1,206,597
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 3,184,490	$ 3,386,903

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Receivables, allowances	$ 2,544	$ 3,912
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.005	$ 0.005
Common stock, shares authorized (in shares)	280,000,000	280,000,000
Common stock, shares issued (in shares)	140,525,055	140,525,055
Treasury stock, shares (in shares)	22,994,595	23,412,870

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues
Revenues		$ 316,914	$ 315,883	$ 903,769	$ 907,278
Operating expenses
Cost of revenue	[1]	158,712	158,579	476,811	471,762
Research and development		35,248	33,573	104,791	108,175
Selling and marketing		33,413	22,154	90,211	76,692
General and administrative		29,717	37,000	89,429	102,684
Depreciation and amortization		31,845	33,395	95,434	98,928
Total operating expenses		288,935	284,701	856,676	858,241
Operating income		27,979	31,182	47,093	49,037
Other income (expense)
Interest expense		(11,208)	(12,925)	(33,943)	(44,238)
Interest income		2,834	2,927	8,553	8,781
Other, net		(1,088)	1,356	(1,036)	(6,361)
Total other income (expense)		(9,462)	(8,642)	(26,426)	(41,818)
Income before income taxes		18,517	22,540	20,667	7,219
Income tax expense		4,753	6,674	2,347	1,705
Net income		$ 13,764	$ 15,866	$ 18,320	$ 5,514
Income per common share
Basic (in dollars per share)		$ 0.12	$ 0.14	$ 0.16	$ 0.05
Diluted (in dollars per share)		$ 0.12	$ 0.13	$ 0.15	$ 0.05
Weighted average common shares outstanding
Basic (in shares)		117,512	116,558	117,574	116,217
Diluted (in shares)		118,540	117,804	118,817	117,644
Software as a service and platform as a service
Revenues
Revenues		$ 191,456	$ 190,369	$ 583,530	$ 563,892
License
Revenues
Revenues		54,454	56,773	110,383	135,038
Maintenance
Revenues
Revenues		53,519	53,049	159,037	159,078
Services
Revenues
Revenues		$ 17,485	$ 15,692	$ 50,819	$ 49,270
[1]	The cost of revenue excludes charges for depreciation but includes amortization of purchased and developed software for resale.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 13,764	$ 15,866	$ 18,320	$ 5,514
Other comprehensive income (loss):
Foreign currency translation adjustments	(4,223)	1,842	(5,873)	(4,909)
Total other comprehensive income (loss)	(4,223)	1,842	(5,873)	(4,909)
Comprehensive income	$ 9,541	$ 17,708	$ 12,447	$ 605

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2019	$ 1,129,968	$ 702	$ 667,658	$ 930,830	$ (377,639)	$ (91,583)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,514			5,514
Other comprehensive income (loss)	(4,909)					(4,909)
Stock-based compensation	22,943		22,943
Shares issued and forfeited, net, under stock plans	9,359		(14,660)		24,019
Repurchase of common stock	(28,881)				(28,881)
Repurchase of stock-based compensation awards for tax withholdings	(11,150)				(11,150)
Ending balance at Sep. 30, 2020	1,122,844	702	675,941	936,344	(393,651)	(96,492)
Beginning balance at Jun. 30, 2020	1,090,737	702	667,554	920,478	(399,663)	(98,334)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,866			15,866
Other comprehensive income (loss)	1,842					1,842
Stock-based compensation	8,061		8,061
Shares issued and forfeited, net, under stock plans	6,364		326		6,038
Repurchase of stock-based compensation awards for tax withholdings	(26)				(26)
Ending balance at Sep. 30, 2020	1,122,844	702	675,941	936,344	(393,651)	(96,492)
Beginning balance at Dec. 31, 2020	1,206,597	702	682,431	1,003,490	(387,581)	(92,445)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	18,320			18,320
Other comprehensive income (loss)	(5,873)					(5,873)
Stock-based compensation	20,790		20,790
Shares issued and forfeited, net, under stock plans	9,964		(20,177)		30,141
Repurchase of common stock	(39,411)				(39,411)
Repurchase of stock-based compensation awards for tax withholdings	(14,833)				(14,833)
Ending balance at Sep. 30, 2021	1,195,554	702	683,044	1,021,810	(411,684)	(98,318)
Beginning balance at Jun. 30, 2021	1,178,560	702	676,399	1,008,046	(412,492)	(94,095)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	13,764			13,764
Other comprehensive income (loss)	(4,223)					(4,223)
Stock-based compensation	6,367		6,367
Shares issued and forfeited, net, under stock plans	1,123		278		845
Repurchase of stock-based compensation awards for tax withholdings	(37)				(37)
Ending balance at Sep. 30, 2021	$ 1,195,554	$ 702	$ 683,044	$ 1,021,810	$ (411,684)	$ (98,318)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Repurchase of common stock (in shares)	1,000,000	1,000,000

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income	$ 18,320	$ 5,514
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation	15,838	18,012
Amortization	84,528	86,992
Amortization of operating lease right-of-use assets	7,752	14,145
Amortization of deferred debt issuance costs	3,525	3,613
Deferred income taxes	(11,742)	(10,540)
Stock-based compensation expense	20,790	22,943
Other	(27)	4,339
Changes in operating assets and liabilities:
Receivables	55,953	41,261
Accounts payable	(5,080)	1,680
Accrued employee compensation	(1,140)	13,585
Deferred revenue	10,339	14,361
Other current and noncurrent assets and liabilities	(51,158)	(23,847)
Net cash flows from operating activities	147,898	192,058
Cash flows from investing activities:
Purchases of property and equipment	(12,968)	(14,091)
Purchases of software and distribution rights	(20,041)	(21,556)
Net cash flows from investing activities	(33,009)	(35,647)
Cash flows from financing activities:
Proceeds from issuance of common stock	2,526	2,853
Proceeds from exercises of stock options	7,252	6,518
Repurchase of stock-based compensation awards for tax withholdings	(14,833)	(11,150)
Repurchases of common stock	(39,411)	(28,881)
Proceeds from revolving credit facility	0	30,000
Repayment of revolving credit facility	(55,000)	(109,000)
Repayment of term portion of credit agreement	(29,212)	(29,212)
Payments on or proceeds from other debt, net	(10,187)	(10,044)
Net cash flows from financing activities	(138,865)	(148,916)
Effect of exchange rate fluctuations on cash	84	4,952
Net increase (decrease) in cash and cash equivalents	(23,892)	12,447
Cash and cash equivalents, beginning of period	165,374	121,398
Cash and cash equivalents, end of period	141,482	133,845
Supplemental cash flow information
Income taxes paid	28,131	19,733
Interest paid	$ 35,966	$ 46,489

Condensed Consolidated Financia

Condensed Consolidated Financial Statements	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidated Financial Statements	Condensed Consolidated Financial Statements The unaudited condensed consolidated financial statements include the accounts of ACI Worldwide, Inc. and its wholly-owned subsidiaries (collectively, the “Company”). All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements as of September 30, 2021, and for the three and nine months ended September 30, 2021 and 2020, are unaudited and reflect all adjustments of a normal recurring nature, which are, in the opinion of management, necessary for a fair presentation, in all material respects, of the financial position and operating results for the interim periods. The condensed consolidated balance sheet as of December 31, 2020, is derived from the audited financial statements. The condensed consolidated financial statements contained herein should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2020, filed on February 25, 2021. Results for the three and nine months ended September 30, 2021, are not necessarily indicative of results that may be attained in the future. The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make judgments, estimates, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Risks and Uncertainties The Company is subject to risks and uncertainties as a result of the COVID-19 pandemic that began in early 2020. The COVID-19 pandemic, and the measures imposed by the governments of various countries, states, cities, and other geographic regions to prevent its spread, have negatively impacted global economic and market conditions, including levels of consumer and business spending. The extent of the impact of the COVID-19 pandemic on the Company's business is highly uncertain and difficult to predict, as vaccination rates vary by geography, new variants spread, and the response to the pandemic and available information continues to be evolving. The Company has experienced changes in volumes for certain Merchant and Biller customers and has received limited requests for extended payment terms under existing contracts. Continuing economic disruptions could have a material adverse effect on our business as our customers curtail and reduce capital and overall spending. The severity of the impact of the COVID-19 pandemic on the Company's business will depend on a number of factors, including, but not limited to, the duration and severity of the pandemic and the extent and severity of the impact on the Company's customers, all of which are uncertain and cannot be predicted. The Company's future results of operations and liquidity could be adversely impacted by delays in payments of outstanding receivable amounts beyond normal payment terms, uncertain demand, and the impact of any initiatives or programs that the Company may undertake to address financial and operations challenges faced by its customers. As of the date of issuance of these condensed consolidated financial statements, the extent to which the COVID-19 pandemic may materially impact the Company's financial condition, liquidity, or results of operations is uncertain. Other Current Liabilities The components of other current liabilities are included in the following table (in thousands): September 30, 2021 December 31, 2020 Vendor financed licenses $ 9,776 $ 12,901 Operating lease liabilities 11,214 13,438 Royalties payable 4,897 3,959 Accrued interest 2,983 8,745 Other 32,936 42,569 Total other current liabilities $ 61,806 $ 81,612 Leases The Company’s operating leases are included in operating lease right-of-use assets, other current liabilities, and operating lease liabilities. During the nine months ended September 30, 2021, the new corporate headquarters operating lease commenced. In recognition of this lease, an operating lease right of use asset of $12.9 million and an operating lease liability of $15.2 million was incurred. These amounts, less amortization and payments to date, are included within operating lease right-of-use assets and other current liabilities and operating lease liabilities in the condensed consolidated balance sheet as of September 30, 2021. Settlement Assets and Liabilities Individuals and businesses settle their obligations to the Company’s various Biller clients using credit or debit cards or via automated clearing house (“ACH”) payments. The Company creates a receivable for the amount due from the credit or debit card processor and an offsetting payable to the client. Upon confirmation that the funds have been received, the Company settles the obligation to the client. Due to timing, in some instances, the Company may (1) receive the funds into bank accounts controlled by and in the Company’s name that are not disbursed to its clients by the end of the day, resulting in a settlement deposit on the Company’s books and (2) disburse funds to its clients in advance of receiving funds from the credit or debit card processor, resulting in a net settlement receivable position. Off Balance Sheet Settlement Accounts The Company also enters into agreements with certain Biller clients to process payment funds on their behalf. When an ACH or automated teller machine network payment transaction is processed, a transaction is initiated to withdraw funds from the designated source account and deposit them into a settlement account, which is a trust account maintained for the benefit of the Company’s clients. A simultaneous transaction is initiated to transfer funds from the settlement account to the intended destination account. These “back to back” transactions are designed to settle at the same time, usually overnight, such that the Company receives the funds from the source at the same time as it sends the funds to their destination. However, due to the transactions being with various financial institutions there may be timing differences that result in float balances. These funds are maintained in accounts for the benefit of the client, which is separate from the Company’s corporate assets. As the Company does not take ownership of the funds, these settlement accounts are not included in the Company’s balance sheet. The Company is entitled to interest earned on the fund balances. The collection of interest on these settlement accounts is considered in the Company’s determination of its fee structure for clients and represents a portion of the payment for services performed by the Company. The amount of settlement funds as of September 30, 2021, and December 31, 2020, was $196.0 million and $246.8 million, respectively. Fair Value The fair value of the Company’s Credit Agreement approximates the carrying value due to the floating interest rate (Level 2 of the fair value hierarchy). The Company measures the fair value of its Senior Notes based on Level 2 inputs, which include quoted market prices and interest rate spreads of similar securities. The fair value of the Company’s 5.750% Senior Notes due 2026 (“2026 Notes”) was $420.0 million and $424.5 million as of September 30, 2021, and December 31, 2020, respectively. The fair values of cash and cash equivalents approximate the carrying values due to the short period of time to maturity (Level 2 of the fair value hierarchy). Goodwill In accordance with the Accounting Standards Codification (“ASC”) 350, Intangibles – Goodwill and Other, the Company assesses goodwill for impairment annually during the fourth quarter of its fiscal year using October 1 balances or when there is evidence that events or changes in circumstances indicate that the carrying amount of the asset may not be recovered. The Company evaluates goodwill at the reporting unit level and had previously identified ACI On Demand and ACI On Premise, the operating segments at the time, as the reporting units.As of September 30, 2021, the Company's goodwill balance of $1.3 billion was allocated to these two reporting units, with $554.3 million allocated to ACI On Demand and $725.9 million allocated to ACI On Premise. Recoverability of goodwill is measured using a discounted cash flow valuation model incorporating discount rates commensurate with the risks involved. Use of a discounted cash flow model is common practice in impairment testing in the absence of available transactional market evidence to determine the fair value. The calculated fair value was substantially in excess of the current carrying value for all reporting units based upon the October 1, 2020, annual impairment test. Given the adverse economic and market conditions caused by the COVID-19 pandemic, the Company considered a variety of qualitative factors to determine if an additional quantitative impairment test was required subsequent to our annual impairment test. Based on a variety of factors, including the excess of the fair value over the carrying amount in the most recent impairment test, we determined that an additional quantitative impairment test was not required. As discussed in Note 9, Segment Information , during the first quarter of 2021, the Company made a change in organizational structure to better align with its strategic direction. This change in the Company’s operating segments will also result in a change in reporting units. The Company is currently in the process of calculating the allocation of goodwill for the new reporting units, which are expected to coincide with the new operating segments - Banks, Merchants, and Billers, and will be completed prior to year-end. Equity Method Investment In July 2019, the Company invested $18.3 million for a 30% non-controlling financial interest in a payment technology and services company in India. The Company accounted for this investment using the equity method in accordance with ASC 323, Investments - Equity Method and Joint Ventures . The Company records its share of earnings and losses in the investment on a one-quarter lag basis. Accordingly, the Company recorded an investment of $19.0 million and $19.3 million, which is included in other noncurrent assets in the condensed consolidated balance sheet as of September 30, 2021, and December 31, 2020, respectively. New Accounting Standards Recently Adopted In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards update ("ASU") 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , as part of its initiative to reduce complexity in accounting standards. The amendments in this update simplify the accounting for income taxes by removing certain exceptions within ASC 740, Income Taxes , as well as clarify and simplify other aspects of the accounting for income taxes to promote consistency among reporting entities. ASU 2019-12 was effective for annual and interim periods beginning after December 15, 2020. The adoption of ASU 2019-12 did not have a material impact on the Company's condensed consolidated financial statements.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue In accordance with ASC 606, Revenue From Contracts With Customers , revenue is recognized upon transfer of control of promised products and/or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products and services. Revenue is recognized net of any taxes collected from customers and subsequently remitted to governmental authorities. See Note 9, Segment Information, for additional information, including disaggregation of revenue based on primary solution category. Total receivables represent amounts billed and amounts earned that are to be billed in the future (i.e., accrued receivables). Included in accrued receivables are services, software as a service ("SaaS"), and platform as a service ("PaaS") revenues earned in the current period but billed in the following period, and amounts due under multi-year software license arrangements with extended payment terms for which the Company has an unconditional right to invoice and receive payment subsequent to invoicing. Total receivables, net is comprised of the following (in thousands): September 30, 2021 December 31, 2020 Billed receivables $ 147,247 $ 179,177 Allowance for doubtful accounts (2,544) (3,912) Billed receivables, net 144,703 175,265 Current accrued receivables, net 154,633 167,614 Long-term accrued receivables, net 196,676 215,772 Total accrued receivables, net 351,309 383,386 Total receivables, net $ 496,012 $ 558,651 No customer accounted for more than 10% of the Company’s consolidated receivables balance as of September 30, 2021, or December 31, 2020. Deferred revenue includes amounts due or received from customers for software licenses, maintenance, services, and/or SaaS and PaaS services in advance of recording the related revenue. Changes in deferred revenue were as follows (in thousands): Balance, December 31, 2020 $ 129,413 Deferral of revenue 112,008 Recognition of deferred revenue (101,306) Foreign currency translation (1,478) Balance, September 30, 2021 $ 138,637 Revenue allocated to remaining performance obligations represents contracted revenue that will be recognized in future periods, which is comprised of deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. This does not include: • Revenue that will be recognized in future periods from capacity overages that are accounted for as a usage-based royalty. • SaaS and PaaS revenue from variable consideration that will be recognized in accordance with the ‘right to invoice’ practical expedient or meets the allocation objective. Revenue allocated to remaining performance obligations was $871.2 million as of September 30, 2021, of which the Company expects to recognize approximately 55% over the next 12 months and the remainder thereafter. During the three and nine months ended September 30, 2021 and 2020, revenue recognized by the Company from performance obligations satisfied in previous periods was not significant.

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt As of September 30, 2021, the Company had $687.9 million and $400.0 million outstanding under its Term Loans and Senior Notes, respectively, with up to $498.5 million of unused borrowings under the Revolving Credit Facility portion of the Credit Agreement, as amended, and up to $1.5 million of unused borrowings under the Letter of Credit agreement. The amount of unused borrowings actually available varies in accordance with the terms of the agreement. Credit Agreement On April 5, 2019, the Company and its wholly-owned subsidiaries, ACI Worldwide Corp. and ACI Payments, Inc. entered into the Second Amended and Restated Credit Agreement (the “Credit Agreement”) with the lenders, and Bank of America, N.A., as administrative agent for the lenders, to amend and restate the Company's existing agreement, as amended, dated February 24, 2017. The Credit Agreement consists of (a) a five-year $500.0 million senior secured revolving credit facility (the “Revolving Credit Facility”), which includes sublimits for (1) the issuance of standby letters of credit and (2) swingline loans, (b) a five-year $279.0 million senior secured term loan facility (the "Initial Term Loan") and (c) a five-year $500.0 million Delayed Draw Term Loan (together with the Initial Term Loan, the "Term Loans", and together with the Initial Term Loan and the Revolving Credit Facility, the “Credit Facility”). The Credit Agreement also allows the Company to request optional incremental term loans and increases in the revolving commitment. The Credit Facility will mature on April 5, 2024. At the Company’s option, borrowings under the Credit Facility bear interest at an annual rate equal to, either (a) a base rate determined by reference to the highest of (1) the annual interest rate publicly announced by the administrative agent as its Prime Rate, (2) the federal funds effective rate plus 1/2 of 1%, or (3) a London Interbank Offered Rate (“LIBOR”) rate determined by reference to the costs of funds for U.S. dollar deposits for a one-month interest period, adjusted for certain additional costs, plus 1% or (b) a LIBOR rate determined by reference to the costs of funds for U.S. dollar deposits for the interest period relevant to such borrowings, adjusted for certain additional costs, plus an applicable margin. Based on the calculation of the applicable consolidated total leverage ratio, the applicable margin for borrowings under the Credit Facility is between 0.25% to 1.25% with respect to base rate borrowings and between 1.25% and 2.25% with respect to LIBOR rate borrowings. Interest is due and payable monthly. The interest rate in effect for the Credit Facility as of September 30, 2021, was 2.08%. The Company is also required to pay (a) a commitment fee related to the unutilized commitments under the Revolving Credit Facility, payable quarterly in arrears, (b) letter of credit fees on the maximum amount available to be drawn under all outstanding letters of credit in an amount equal to the applicable margin on LIBOR rate borrowings under the Revolving Credit Facility on an annual basis, payable quarterly in arrears, and (c) customary fronting fees for the issuance of letters of credit fees and agency fees. Expected Discontinuation of LIBOR In July 2017, the United Kingdom’s Financial Conduct Authority, which regulates LIBOR, announced it will no longer compel banks to submit rates for the calculation of LIBOR after 2021. The Alternative Reference Rates Committee has proposed the Secured Overnight Financing Rate ("SOFR") as its recommended alternative to LIBOR, and the first publication of SOFR rates was released in April 2018. The Company is evaluating the potential impact of the transition from LIBOR as an interest rate benchmark to other potential alternative reference rates, including SOFR. The Company's Credit Agreement is currently indexed to LIBOR and the maturity date of the Credit Agreement extends beyond 2021. The Credit Agreement contemplates the discontinuation of LIBOR and provides options for the Company in such an event. The Company will continue to actively assess the related opportunities and risks involved in this transition. Senior Notes On August 21, 2018, the Company completed a $400.0 million offering of the 2026 Notes at an issue price of 100% of the principal amount in a private placement for resale to qualified institutional buyers. The 2026 Notes bear interest at an annual rate of 5.750%, payable semi-annually in arrears on February 15 and August 15 of each year. The 2026 Notes will mature on August 15, 2026. Maturities on debt outstanding as of September 30, 2021, are as follows (in thousands): Fiscal Year Ending December 31, Remainder of 2021 $ 9,738 2022 50,431 2023 69,906 2024 557,823 2025 — Thereafter 400,000 Total $ 1,087,898 As of September 30, 2021, and at all times during the period, the Company was in compliance with its financial debt covenants. Total debt is comprised of the following (in thousands): September 30, 2021 December 31, 2020 Term loans $ 687,898 $ 717,110 Revolving credit facility — 55,000 5.750% Senior notes, due August 2026 400,000 400,000 Debt issuance costs (13,578) (17,103) Total debt 1,074,320 1,155,007 Less: current portion of term loans 45,563 38,950 Less: current portion of debt issuance costs (4,596) (4,685) Total long-term debt $ 1,033,353 $ 1,120,742 Overdraft Facility In 2019, the Company and ACI Payments, Inc. entered in to an uncommitted overdraft facility with Bank of America, N.A. The overdraft facility bears interest at the federal funds effective rate plus 2.250% based on the Company’s average outstanding balance and the frequency in which overdrafts occur. The overdraft facility acts as a secured loan under the terms of the Credit Agreement to provide an additional funding mechanism for timing differences that can occur in the bill payment settlement process. Amounts outstanding on the overdraft facility are included in other current liabilities in the condensed consolidated balance sheet. As of September 30, 2021, there was $75.0 million available and no amount outstanding on the overdraft facility. As of December 31, 2020, there was no amount outstanding on the overdraft facility. Other The Company finances certain multi-year license agreements for internal-use software. Upon execution, these arrangements have been treated as a non-cash investing and financing activity for purposes of the condensed consolidated statements of cash flows. As of September 30, 2021, $5.1 million was outstanding on these agreements, of which $2.9 million and $2.2 million are included in other current liabilities and other noncurrent liabilities, respectively, in the condensed consolidated balance sheet. As of December 31, 2020, $7.8 million was outstanding on these agreements, of which $5.6 million and $2.2 million are included in other current liabilities and other noncurrent liabilities, respectively, in the condensed consolidated balance sheet.

Software and Other Intangible A

Software and Other Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Software and Other Intangible Assets	Software and Other Intangible Assets The carrying amount and accumulated amortization of the Company's software assets subject to amortization at each balance sheet date are as follows (in thousands): September 30, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Balance Gross Carrying Amount Accumulated Amortization Net Balance Software for resale $ 129,771 $ (127,842) $ 1,929 $ 130,261 $ (123,418) $ 6,843 Software for internal use 435,706 (270,699) 165,007 430,330 (240,717) 189,613 Total software $ 565,477 $ (398,541) $ 166,936 $ 560,591 $ (364,135) $ 196,456 Amortization of software for resale is computed using the greater of (a) the ratio of current gross revenues to the total of current and future gross revenues expected to be derived from the software or (b) the straight-line method over the remaining estimated useful life of generally five Amortization of software for internal use is computed using the straight-line method over an estimated useful life of generally three The carrying amount and accumulated amortization of the Company’s other intangible assets subject to amortization at each balance sheet date are as follows (in thousands): September 30, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Balance Gross Carrying Amount Accumulated Amortization Net Balance Customer relationships $ 508,808 $ (221,889) $ 286,919 $ 512,389 $ (197,787) $ 314,602 Trademarks and trade names 23,895 (18,155) 5,740 24,115 (16,734) 7,381 Total other intangible assets $ 532,703 $ (240,044) $ 292,659 $ 536,504 $ (214,521) $ 321,983 Other intangible assets amortization expense recorded during both the three months ended September 30, 2021 and 2020, totaled $9.3 million. Other intangible assets amortization expense recorded during both the nine months ended September 30, 2021 and 2020, totaled $27.8 million. Based on capitalized intangible assets as of September 30, 2021, estimated amortization expense amounts in future fiscal years are as follows (in thousands): Fiscal Year Ending December 31, Software Amortization Other Intangible Assets Amortization Remainder of 2021 $ 17,995 $ 9,208 2022 57,903 36,681 2023 39,950 36,364 2024 24,135 31,860 2025 19,171 23,293 Thereafter 7,782 155,253 Total $ 166,936 $ 292,659

Stock-Based Compensation Plans

Stock-Based Compensation Plans	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Plans	Stock-Based Compensation Plans Employee Stock Purchase Plan Shares issued under the 2017 Employee Stock Purchase Plan during the nine months ended September 30, 2021 and 2020, totaled 86,877 and 114,709, respectively. Stock Options A summary of stock option activity is as follows: Number of Weighted Average Weighted Average Aggregate Intrinsic Value Outstanding as of December 31, 2020 2,186,511 $ 17.87 Exercised (380,676) 19.05 Outstanding as of September 30, 2021 1,805,835 $ 17.63 3.27 $ 23,662,370 Exercisable as of September 30, 2021 1,805,835 $ 17.63 3.27 $ 23,662,370 The total intrinsic value of stock options exercised during the nine months ended September 30, 2021 and 2020, was $7.8 million and $14.3 million, respectively. There were no stock options granted during the nine months ended September 30, 2021 or 2020. Long-term Incentive Program Performance Share Awards During the nine months ended September 30, 2021, the Company modified the performance target for the remaining outstanding long-term incentive program performance shares ("LTIP performance shares") in consideration of the impact of the COVID-19 pandemic, resulting in additional stock-based compensation expense of approximately $0.4 million. During the nine months ended September 30, 2021, a total of 10,457 LTIP performance shares vested. The Company withheld 4,527 of those shares to pay the employees’ portion of the minimum payroll withholding taxes. Total Shareholder Return Awards A summary of nonvested total shareholder return awards ("TSRs") is as follows: Number of Weighted Average Nonvested as of December 31, 2020 1,367,728 $ 34.59 Granted 367,317 50.60 Vested (782,588) 31.31 Forfeited (153,681) 38.57 Change in payout rate 391,294 31.31 Nonvested as of September 30, 2021 1,190,070 $ 40.10 During the nine months ended September 30, 2021, a total of 782,588 TSRs awards granted in fiscal 2018 vested and achieved a payout rate of 200% based on the Company's total shareholder return as compared to a group of peer companies over a three-year performance period. The Company withheld 205,373 of those shares to pay the employees’ portion of the minimum payroll withholding taxes. The fair value of TSRs granted during the nine months ended September 30, 2021 and 2020, were estimated on the date of grant using the Monte Carlo simulation model, acceptable under ASC 718, Compensation - Stock Compensation , using the following weighted average assumptions: Nine Months Ended September 30, 2021 2020 Expected life (years) 2.8 2.8 Risk-free interest rate 0.3 % 0.5 % Expected volatility 41.2 % 31.4 % Expected dividend yield — — Restricted Share Units A summary of nonvested restricted share unit awards ("RSUs") is as follows: Number of Weighted Average Nonvested as of December 31, 2020 1,118,182 $ 27.34 Granted 578,220 39.27 Vested (522,608) 27.69 Forfeited (232,734) 30.54 Nonvested as of September 30, 2021 941,060 $ 33.69 During the nine months ended September 30, 2021, a total of 522,608 RSUs vested. The Company withheld 155,031 of those shares to pay the employees’ portion of the minimum payroll withholding taxes.

Common Stock and Treasury Stock

Common Stock and Treasury Stock	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Common Stock and Treasury Stock	Common Stock and Treasury Stock In 2005, the board approved a stock repurchase program authorizing the Company, as market and business conditions warrant, to acquire its common stock and periodically authorize additional funds for the program. In February 2018, the board approved the repurchase of the Company's common stock of up to $200.0 million, in place of the remaining purchase amounts previously authorized. The Company repurchased 1,000,000 shares for $39.4 million during the nine months ended September 30, 2021. Under the program to date, the Company has repurchased 47,357,495 shares for approximately $651.7 million. As of September 30, 2021, the maximum remaining amount authorized for purchase under the stock repurchase program was $72.7 million.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share is computed in accordance with ASC 260, Earnings Per Share , based on weighted average outstanding common shares. Diluted earnings per share is computed based on basic weighted average outstanding common shares adjusted for the dilutive effect of stock options, RSUs, and certain contingently issuable shares for which performance targets have been achieved. The following table reconciles the weighted average share amounts used to compute both basic and diluted earnings per share (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Weighted average shares outstanding: Basic weighted average shares outstanding 117,512 116,558 117,574 116,217 Add: Dilutive effect of stock options and RSUs 1,028 1,246 1,243 1,427 Diluted weighted average shares outstanding 118,540 117,804 118,817 117,644 The diluted earnings per share computation excludes 1.6 million and 1.5 million options to purchase shares, RSUs, and contingently issuable shares during the three months ended September 30, 2021 and 2020, respectively, as their effect would be anti-dilutive. The diluted earnings per share computation excludes 1.5 million and 1.7 million options to purchase shares, RSUs, and contingently issuable shares during the nine months ended September 30, 2021 and 2020, respectively, as their effect would be anti-dilutive. Common stock outstanding as of September 30, 2021, and December 31, 2020, was 117,530,460 and 117,112,185, respectively.

Other, Net

Other, Net	9 Months Ended
	Sep. 30, 2021
Other Income and Expenses [Abstract]
Other, Net	Other, NetOther, net is primarily comprised of foreign currency transaction gains and losses. Other, net was $1.1 million of expense and $1.4 million of income for the three months ended September 30, 2021 and 2020, respectively. Other, net was $1.0 million and $6.4 million of expense for the nine months ended September 30, 2021 and 2020, respectively.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information In January 2021, the Company made a change in organizational structure to align with its strategic direction. As a result of this change, the Company reassessed its segment reporting structure due to changes in how the Company's chief operating decision maker ("CODM") assesses the Company's performance and allocates resources. Beginning in the first quarter of 2021, the Company reports financial performance based on its new operating segments, Banks, Merchants, and Billers, and analyzes Segment Adjusted EBITDA as a measure of segment profitability. The Company’s Chief Executive Officer is also the CODM. The CODM, together with other senior management personnel, focus their review on consolidated financial information and the allocation of resources based on operating results, including revenues and Segment Adjusted EBITDA, for each segment, separate from Corporate operations. No operating segments have been aggregated to form the reportable segments. Banks. ACI provides payment solutions to large and mid-size banks globally for retail banking, real time, digital, and other payment services. These solutions transform banks’ complex payment environments to speed time to market, reduce costs, and deliver a consistent experience to customers across channels while enabling them to prevent and rapidly react to fraudulent activity. In addition, they enable banks to meet the requirements of different real-time payments schemes and to quickly create differentiated products to meet consumer, business, and merchant demands. Merchants. ACI’s support of merchants globally includes Tier 1 and Tier 2 merchants, online-only merchants and the payment service providers, independent selling organizations, value-added resellers, and acquirers who service them. These customers operate in a variety of verticals, including general merchandise, grocery, hospitality, dining, transportation, and others. The Company's solutions provide merchants with a secure, omni-channel payments platform that gives them independence from third-party payment providers. They also offer secure solutions to online-only merchants that provide consumers with a convenient and seamless way to shop. Billers. Within the billers segment, ACI provides electronic bill presentment and payment (“EBPP”) services to companies operating in the consumer finance, insurance, healthcare, higher education, utility, government, and mortgage categories. The solutions enable these customers to support a wide range of payment options and provide a convenient consumer payments experience that drives consumer loyalty and increases revenue. Revenue is attributed to the reportable segments based upon the customer. Expenses are attributed to the reportable segments in one of three methods: (1) direct costs of the segment, (2) labor costs that can be attributed based upon time tracking for individual projects, or (3) costs that are allocated. Allocated costs are generally marketing and sales related activities. Segment Adjusted EBITDA is the measure reported to the CODM for purposes of making decisions on allocating resources and assessing the performance of the Company’s segments, and, therefore, Segment Adjusted EBITDA is presented in conformity with ASC 280, Segment Reporting. Segment Adjusted EBITDA is defined as earnings (loss) from operations before interest, income tax expense (benefit), depreciation and amortization (“EBITDA”) adjusted to exclude net other income (expense). Corporate and unallocated expenses includes global facilities and information technology costs and long-term product roadmap expenses in addition to corporate overhead costs that are not allocated to reportable segments. The overhead costs relate to human resources, finance, legal, accounting, and merger and acquisition activity. These costs along with depreciation and amortization and stock-based compensation are not considered when management evaluates segment performance. The following is selected financial data for the Company’s reportable segments for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenue Banks $ 131,744 $ 125,658 $ 341,712 $ 356,865 Merchants 38,989 40,761 115,083 109,870 Billers 146,181 149,464 446,974 440,543 Total revenue $ 316,914 $ 315,883 $ 903,769 $ 907,278 Segment Adjusted EBITDA Banks $ 67,602 $ 71,666 $ 159,262 $ 182,487 Merchants 14,221 18,954 41,987 38,210 Billers 31,969 33,875 100,593 98,414 Depreciation and amortization (33,380) (35,490) (100,366) (105,004) Stock-based compensation expense (6,367) (8,061) (20,790) (22,943) Corporate and unallocated expenses (46,066) (49,762) (133,593) (142,127) Interest, net (8,374) (9,998) (25,390) (35,457) Other, net (1,088) 1,356 (1,036) (6,361) Income before income taxes $ 18,517 $ 22,540 $ 20,667 $ 7,219 Assets are not allocated to segments, and the Company’s CODM does not evaluate operating segments using discrete asset information. The following is revenue by primary solution category for the Company’s reportable segments for the periods indicated (in thousands): Three Months Ended September 30, 2021 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 146,181 $ 146,181 Digital Business Banking 16,527 — — 16,527 Merchant Payments — 38,989 — 38,989 Fraud Management 6,882 — — 6,882 Real-Time Payments 27,638 — — 27,638 Issuing and Acquiring 80,697 — — 80,697 Total $ 131,744 $ 38,989 $ 146,181 $ 316,914 Three Months Ended September 30, 2020 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 149,464 $ 149,464 Digital Business Banking 14,443 — — 14,443 Merchant Payments — 40,761 — 40,761 Fraud Management 11,513 — — 11,513 Real-Time Payments 12,998 — — 12,998 Issuing and Acquiring 86,704 — — 86,704 Total $ 125,658 $ 40,761 $ 149,464 $ 315,883 Nine Months Ended September 30, 2021 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 446,974 $ 446,974 Digital Business Banking 47,319 — — 47,319 Merchant Payments — 115,083 — 115,083 Fraud Management 23,563 — — 23,563 Real-Time Payments 58,534 — — 58,534 Issuing and Acquiring 212,296 — — 212,296 Total $ 341,712 $ 115,083 $ 446,974 $ 903,769 Nine Months Ended September 30, 2020 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 440,543 $ 440,543 Digital Business Banking 45,327 — — 45,327 Merchant Payments — 109,870 — 109,870 Fraud Management 25,183 — — 25,183 Real-Time Payments 57,160 — — 57,160 Issuing and Acquiring 229,195 — — 229,195 Total $ 356,865 $ 109,870 $ 440,543 $ 907,278 The following is revenue by the Company's reportable segments for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Banks Software as a service and platform as a service $ 14,794 $ 13,881 $ 43,555 $ 41,036 License 51,062 48,997 102,993 123,735 Maintenance 48,829 48,331 146,091 145,973 Services 17,059 14,449 49,073 46,121 Total $ 131,744 $ 125,658 $ 341,712 $ 356,865 Merchants Software as a service and platform as a service $ 30,561 $ 27,099 $ 93,336 $ 82,648 License 3,392 7,776 7,296 11,209 Maintenance 4,610 4,643 12,705 12,864 Services 426 1,243 1,746 3,149 Total $ 38,989 $ 40,761 $ 115,083 $ 109,870 Billers Software as a service and platform as a service $ 146,101 $ 149,389 $ 446,639 $ 440,208 License — — 94 94 Maintenance 80 75 241 241 Services — — — — Total $ 146,181 $ 149,464 $ 446,974 $ 440,543 The following is the Company's revenue by geographic location for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenue United States $ 199,195 $ 199,209 $ 587,002 $ 611,383 Other 117,719 116,674 316,767 295,895 Total $ 316,914 $ 315,883 $ 903,769 $ 907,278 The following is the Company’s long-lived assets by geographic location for the periods indicated (in thousands): September 30, 2021 December 31, 2020 Long-lived Assets United States $ 1,383,348 $ 1,423,862 Other 724,832 750,651 Total $ 2,108,180 $ 2,174,513 No single customer accounted for more than 10% of the Company’s consolidated revenues during the three and nine months ended September 30, 2021 and 2020. No other country outside the United States accounted for more than 10% of the Company's consolidated revenues during the three and nine months ended September 30, 2021 and 2020.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and nine months ended September 30, 2021, the Company's effective tax rate was 26% and 11%, respectively. The Company reported tax expense on pretax income for both the three and nine months ended September 30, 2021, with foreign entities recognizing earnings of $18.1 million and $27.7 million, respectively. The effective tax rate for the three months ended September 30, 2021, was negatively impacted by excess tax expense on equity-based compensation. The effective tax rate for the nine months ended September 30, 2021, was positively impacted by excess tax benefits on equity-based compensation. For the three and nine months ended September 30, 2020, the Company's effective tax rate was 30% and 24%, respectively. The Company reported tax expense on pretax income for both the three and nine months ended September 30, 2020, with foreign entities recognizing earnings of $23.4 million and losses of $19.7 million, respectively. The effective tax rate for the three and nine months ended September 30, 2020, was negatively impacted by a change in tax rates in certain countries. The Company’s effective tax rate could fluctuate on a quarterly basis due to the occurrence of significant and unusual or infrequent items, such as vesting of stock-based compensation or foreign currency gains and losses. The Company’s effective tax rate could also fluctuate due to changes in the valuation of its deferred tax assets or liabilities, or by changes in tax laws, regulations, accounting principles, or interpretations thereof. In addition, the Company is occasionally subject to examination of its income tax returns by tax authorities in the jurisdictions in which it operates. The Company regularly assesses the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of its provision for income taxes. As of September 30, 2021, and December 31, 2020, the amount of unrecognized tax benefits for uncertain tax positions was $25.8 million and $24.3 million, respectively, excluding related liabilities for interest and penalties of $1.3 million and $1.2 million as of September 30, 2021, and December 31, 2020, respectively. The Company believes it is reasonably possible that the total amount of unrecognized tax benefits will decrease within the next 12 months by approximately $3.5 million, due to the settlement of various audits and the expiration of statutes of limitation.

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings In April 2021, ACH files associated with one of the Company's mortgage servicing customers were inadvertently transmitted to a processing bank during a test of its ACH file production system. Reversal ACH files were promptly issued, restoring affected accounts. The Company has been contacted by the U.S. Consumer Finance Protection Bureau and various state consumer protection and regulatory agencies about this incident, and is cooperating in their investigations, which could result in fines or penalties that could be material. In addition, the Company has been named as a defendant in seven class action lawsuits filed in various federal courts purportedly on behalf of consumers whose mortgage accounts were affected. The complaints vary, but generally allege violations of federal and state consumer protection and other laws and claim that the Company is obligated to pay statutory and other damages. The Company intends to vigorously defend these cases. Defending such cases could be time-consuming and costly, and failure to successfully defend the Company in any or all of these cases could have a material effect.

Condensed Consolidated Financ_2

Condensed Consolidated Financial Statements (Policies)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The unaudited condensed consolidated financial statements include the accounts of ACI Worldwide, Inc. and its wholly-owned subsidiaries (collectively, the “Company”). All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements as of September 30, 2021, and for the three and nine months ended September 30, 2021 and 2020, are unaudited and reflect all adjustments of a normal recurring nature, which are, in the opinion of management, necessary for a fair presentation, in all material respects, of the financial position and operating results for the interim periods. The condensed consolidated balance sheet as of December 31, 2020, is derived from the audited financial statements. The condensed consolidated financial statements contained herein should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2020, filed on February 25, 2021. Results for the three and nine months ended September 30, 2021, are not necessarily indicative of results that may be attained in the future.
Use of Estimates	The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make judgments, estimates, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Leases	LeasesThe Company’s operating leases are included in operating lease right-of-use assets, other current liabilities, and operating lease liabilities. During the nine months ended September 30, 2021, the new corporate headquarters operating lease commenced. In recognition of this lease, an operating lease right of use asset of $12.9 million and an operating lease liability of $15.2 million was incurred. These amounts, less amortization and payments to date, are included within operating lease right-of-use assets and other current liabilities and operating lease liabilities in the condensed consolidated balance sheet as of September 30, 2021.
Settlement Assets and Liabilities	Settlement Assets and Liabilities Individuals and businesses settle their obligations to the Company’s various Biller clients using credit or debit cards or via automated clearing house (“ACH”) payments. The Company creates a receivable for the amount due from the credit or debit card processor and an offsetting payable to the client. Upon confirmation that the funds have been received, the Company settles the obligation to the client. Due to timing, in some instances, the Company may (1) receive the funds into bank accounts controlled by and in the Company’s name that are not disbursed to its clients by the end of the day, resulting in a settlement deposit on the Company’s books and (2) disburse funds to its clients in advance of receiving funds from the credit or debit card processor, resulting in a net settlement receivable position.
Off Balance Sheet Settlement Accounts	Off Balance Sheet Settlement AccountsThe Company also enters into agreements with certain Biller clients to process payment funds on their behalf. When an ACH or automated teller machine network payment transaction is processed, a transaction is initiated to withdraw funds from the designated source account and deposit them into a settlement account, which is a trust account maintained for the benefit of the Company’s clients. A simultaneous transaction is initiated to transfer funds from the settlement account to the intended destination account. These “back to back” transactions are designed to settle at the same time, usually overnight, such that the Company receives the funds from the source at the same time as it sends the funds to their destination. However, due to the transactions being with various financial institutions there may be timing differences that result in float balances. These funds are maintained in accounts for the benefit of the client, which is separate from the Company’s corporate assets. As the Company does not take ownership of the funds, these settlement accounts are not included in the Company’s balance sheet. The Company is entitled to interest earned on the fund balances. The collection of interest on these settlement accounts is considered in the Company’s determination of its fee structure for clients and represents a portion of the payment for services performed by the Company.
Fair Value	Fair ValueThe fair value of the Company’s Credit Agreement approximates the carrying value due to the floating interest rate (Level 2 of the fair value hierarchy). The Company measures the fair value of its Senior Notes based on Level 2 inputs, which include quoted market prices and interest rate spreads of similar securities.
Goodwill	Goodwill In accordance with the Accounting Standards Codification (“ASC”) 350, Intangibles – Goodwill and Other, the Company assesses goodwill for impairment annually during the fourth quarter of its fiscal year using October 1 balances or when there is evidence that events or changes in circumstances indicate that the carrying amount of the asset may not be recovered. The Company evaluates goodwill at the reporting unit level and had previously identified ACI On Demand and ACI On Premise, the operating segments at the time, as the reporting units.As of September 30, 2021, the Company's goodwill balance of $1.3 billion was allocated to these two reporting units, with $554.3 million allocated to ACI On Demand and $725.9 million allocated to ACI On Premise. Recoverability of goodwill is measured using a discounted cash flow valuation model incorporating discount rates commensurate with the risks involved. Use of a discounted cash flow model is common practice in impairment testing in the absence of available transactional market evidence to determine the fair value. The calculated fair value was substantially in excess of the current carrying value for all reporting units based upon the October 1, 2020, annual impairment test. Given the adverse economic and market conditions caused by the COVID-19 pandemic, the Company considered a variety of qualitative factors to determine if an additional quantitative impairment test was required subsequent to our annual impairment test. Based on a variety of factors, including the excess of the fair value over the carrying amount in the most recent impairment test, we determined that an additional quantitative impairment test was not required. As discussed in Note 9, Segment Information , during the first quarter of 2021, the Company made a change in organizational structure to better align with its strategic direction. This change in the Company’s operating segments will also result in a change in reporting units. The Company is currently in the process of calculating the allocation of goodwill for the new reporting units, which are expected to coincide with the new operating segments - Banks, Merchants, and Billers, and will be completed prior to year-end.
Equity Method Investment	Equity Method Investment In July 2019, the Company invested $18.3 million for a 30% non-controlling financial interest in a payment technology and services company in India. The Company accounted for this investment using the equity method in accordance with ASC 323, Investments - Equity Method and Joint Ventures . The Company records its share of earnings and losses in the investment on a one-quarter lag basis. Accordingly, the Company recorded an investment of $19.0 million and $19.3 million, which is included in other noncurrent assets in the condensed consolidated balance sheet as of September 30, 2021, and December 31, 2020, respectively.
New Accounting Standards Recently Adopted	New Accounting Standards Recently Adopted In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards update ("ASU") 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , as part of its initiative to reduce complexity in accounting standards. The amendments in this update simplify the accounting for income taxes by removing certain exceptions within ASC 740, Income Taxes , as well as clarify and simplify other aspects of the accounting for income taxes to promote consistency among reporting entities. ASU 2019-12 was effective for annual and interim periods beginning after December 15, 2020. The adoption of ASU 2019-12 did not have a material impact on the Company's condensed consolidated financial statements.

Condensed Consolidated Financ_3

Condensed Consolidated Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Other Current Liabilities	The components of other current liabilities are included in the following table (in thousands): September 30, 2021 December 31, 2020 Vendor financed licenses $ 9,776 $ 12,901 Operating lease liabilities 11,214 13,438 Royalties payable 4,897 3,959 Accrued interest 2,983 8,745 Other 32,936 42,569 Total other current liabilities $ 61,806 $ 81,612

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Summary of Total Receivables, Net	Total receivables, net is comprised of the following (in thousands): September 30, 2021 December 31, 2020 Billed receivables $ 147,247 $ 179,177 Allowance for doubtful accounts (2,544) (3,912) Billed receivables, net 144,703 175,265 Current accrued receivables, net 154,633 167,614 Long-term accrued receivables, net 196,676 215,772 Total accrued receivables, net 351,309 383,386 Total receivables, net $ 496,012 $ 558,651
Summary of Changes in Deferred Revenue	Changes in deferred revenue were as follows (in thousands): Balance, December 31, 2020 $ 129,413 Deferral of revenue 112,008 Recognition of deferred revenue (101,306) Foreign currency translation (1,478) Balance, September 30, 2021 $ 138,637

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Summary of Maturities on Debt Outstanding	Maturities on debt outstanding as of September 30, 2021, are as follows (in thousands): Fiscal Year Ending December 31, Remainder of 2021 $ 9,738 2022 50,431 2023 69,906 2024 557,823 2025 — Thereafter 400,000 Total $ 1,087,898
Summary of Total Debt	Total debt is comprised of the following (in thousands): September 30, 2021 December 31, 2020 Term loans $ 687,898 $ 717,110 Revolving credit facility — 55,000 5.750% Senior notes, due August 2026 400,000 400,000 Debt issuance costs (13,578) (17,103) Total debt 1,074,320 1,155,007 Less: current portion of term loans 45,563 38,950 Less: current portion of debt issuance costs (4,596) (4,685) Total long-term debt $ 1,033,353 $ 1,120,742

Software and Other Intangible_2

Software and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Carrying Amount and Accumulated Amortization of Software and Other Intangible Assets	The carrying amount and accumulated amortization of the Company's software assets subject to amortization at each balance sheet date are as follows (in thousands): September 30, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Balance Gross Carrying Amount Accumulated Amortization Net Balance Software for resale $ 129,771 $ (127,842) $ 1,929 $ 130,261 $ (123,418) $ 6,843 Software for internal use 435,706 (270,699) 165,007 430,330 (240,717) 189,613 Total software $ 565,477 $ (398,541) $ 166,936 $ 560,591 $ (364,135) $ 196,456 The carrying amount and accumulated amortization of the Company’s other intangible assets subject to amortization at each balance sheet date are as follows (in thousands): September 30, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Balance Gross Carrying Amount Accumulated Amortization Net Balance Customer relationships $ 508,808 $ (221,889) $ 286,919 $ 512,389 $ (197,787) $ 314,602 Trademarks and trade names 23,895 (18,155) 5,740 24,115 (16,734) 7,381 Total other intangible assets $ 532,703 $ (240,044) $ 292,659 $ 536,504 $ (214,521) $ 321,983
Schedule of Estimated Intangible Asset Amortization Expense in Future Fiscal Years	Based on capitalized intangible assets as of September 30, 2021, estimated amortization expense amounts in future fiscal years are as follows (in thousands): Fiscal Year Ending December 31, Software Amortization Other Intangible Assets Amortization Remainder of 2021 $ 17,995 $ 9,208 2022 57,903 36,681 2023 39,950 36,364 2024 24,135 31,860 2025 19,171 23,293 Thereafter 7,782 155,253 Total $ 166,936 $ 292,659

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity	A summary of stock option activity is as follows: Number of Weighted Average Weighted Average Aggregate Intrinsic Value Outstanding as of December 31, 2020 2,186,511 $ 17.87 Exercised (380,676) 19.05 Outstanding as of September 30, 2021 1,805,835 $ 17.63 3.27 $ 23,662,370 Exercisable as of September 30, 2021 1,805,835 $ 17.63 3.27 $ 23,662,370
Summary of Nonvested Performance Award Activity	A summary of nonvested total shareholder return awards ("TSRs") is as follows: Number of Weighted Average Nonvested as of December 31, 2020 1,367,728 $ 34.59 Granted 367,317 50.60 Vested (782,588) 31.31 Forfeited (153,681) 38.57 Change in payout rate 391,294 31.31 Nonvested as of September 30, 2021 1,190,070 $ 40.10
Summary of Grant Date Fair Value Weighted-Average Assumptions, Awards Other Than Options	The fair value of TSRs granted during the nine months ended September 30, 2021 and 2020, were estimated on the date of grant using the Monte Carlo simulation model, acceptable under ASC 718, Compensation - Stock Compensation , using the following weighted average assumptions: Nine Months Ended September 30, 2021 2020 Expected life (years) 2.8 2.8 Risk-free interest rate 0.3 % 0.5 % Expected volatility 41.2 % 31.4 % Expected dividend yield — —
Summary of Nonvested Restricted Share Unit Activity	A summary of nonvested restricted share unit awards ("RSUs") is as follows: Number of Weighted Average Nonvested as of December 31, 2020 1,118,182 $ 27.34 Granted 578,220 39.27 Vested (522,608) 27.69 Forfeited (232,734) 30.54 Nonvested as of September 30, 2021 941,060 $ 33.69

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Summary of Reconciliation of Weighted Average Share Amounts Used to Compute Both Basic and Diluted Earnings (Loss) Per Share	The following table reconciles the weighted average share amounts used to compute both basic and diluted earnings per share (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Weighted average shares outstanding: Basic weighted average shares outstanding 117,512 116,558 117,574 116,217 Add: Dilutive effect of stock options and RSUs 1,028 1,246 1,243 1,427 Diluted weighted average shares outstanding 118,540 117,804 118,817 117,644

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of Selected Financial Data by Reportable Segment	The following is selected financial data for the Company’s reportable segments for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenue Banks $ 131,744 $ 125,658 $ 341,712 $ 356,865 Merchants 38,989 40,761 115,083 109,870 Billers 146,181 149,464 446,974 440,543 Total revenue $ 316,914 $ 315,883 $ 903,769 $ 907,278 Segment Adjusted EBITDA Banks $ 67,602 $ 71,666 $ 159,262 $ 182,487 Merchants 14,221 18,954 41,987 38,210 Billers 31,969 33,875 100,593 98,414 Depreciation and amortization (33,380) (35,490) (100,366) (105,004) Stock-based compensation expense (6,367) (8,061) (20,790) (22,943) Corporate and unallocated expenses (46,066) (49,762) (133,593) (142,127) Interest, net (8,374) (9,998) (25,390) (35,457) Other, net (1,088) 1,356 (1,036) (6,361) Income before income taxes $ 18,517 $ 22,540 $ 20,667 $ 7,219 The following is revenue by the Company's reportable segments for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Banks Software as a service and platform as a service $ 14,794 $ 13,881 $ 43,555 $ 41,036 License 51,062 48,997 102,993 123,735 Maintenance 48,829 48,331 146,091 145,973 Services 17,059 14,449 49,073 46,121 Total $ 131,744 $ 125,658 $ 341,712 $ 356,865 Merchants Software as a service and platform as a service $ 30,561 $ 27,099 $ 93,336 $ 82,648 License 3,392 7,776 7,296 11,209 Maintenance 4,610 4,643 12,705 12,864 Services 426 1,243 1,746 3,149 Total $ 38,989 $ 40,761 $ 115,083 $ 109,870 Billers Software as a service and platform as a service $ 146,101 $ 149,389 $ 446,639 $ 440,208 License — — 94 94 Maintenance 80 75 241 241 Services — — — — Total $ 146,181 $ 149,464 $ 446,974 $ 440,543
Schedule of Revenue by Primary Solution Category for Reportable Segments	The following is revenue by primary solution category for the Company’s reportable segments for the periods indicated (in thousands): Three Months Ended September 30, 2021 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 146,181 $ 146,181 Digital Business Banking 16,527 — — 16,527 Merchant Payments — 38,989 — 38,989 Fraud Management 6,882 — — 6,882 Real-Time Payments 27,638 — — 27,638 Issuing and Acquiring 80,697 — — 80,697 Total $ 131,744 $ 38,989 $ 146,181 $ 316,914 Three Months Ended September 30, 2020 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 149,464 $ 149,464 Digital Business Banking 14,443 — — 14,443 Merchant Payments — 40,761 — 40,761 Fraud Management 11,513 — — 11,513 Real-Time Payments 12,998 — — 12,998 Issuing and Acquiring 86,704 — — 86,704 Total $ 125,658 $ 40,761 $ 149,464 $ 315,883 Nine Months Ended September 30, 2021 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 446,974 $ 446,974 Digital Business Banking 47,319 — — 47,319 Merchant Payments — 115,083 — 115,083 Fraud Management 23,563 — — 23,563 Real-Time Payments 58,534 — — 58,534 Issuing and Acquiring 212,296 — — 212,296 Total $ 341,712 $ 115,083 $ 446,974 $ 903,769 Nine Months Ended September 30, 2020 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 440,543 $ 440,543 Digital Business Banking 45,327 — — 45,327 Merchant Payments — 109,870 — 109,870 Fraud Management 25,183 — — 25,183 Real-Time Payments 57,160 — — 57,160 Issuing and Acquiring 229,195 — — 229,195 Total $ 356,865 $ 109,870 $ 440,543 $ 907,278
Schedule of Revenue by Geographic Location	The following is the Company's revenue by geographic location for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenue United States $ 199,195 $ 199,209 $ 587,002 $ 611,383 Other 117,719 116,674 316,767 295,895 Total $ 316,914 $ 315,883 $ 903,769 $ 907,278
Schedule of Long-lived Assets by Geographic Location	The following is the Company’s long-lived assets by geographic location for the periods indicated (in thousands): September 30, 2021 December 31, 2020 Long-lived Assets United States $ 1,383,348 $ 1,423,862 Other 724,832 750,651 Total $ 2,108,180 $ 2,174,513

Condensed Consolidated Financ_4

Condensed Consolidated Financial Statements - Summary of Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Other Current Liabilities
Vendor financed licenses	$ 9,776	$ 12,901
Operating lease liabilities	11,214	13,438
Royalties payable	4,897	3,959
Accrued interest	2,983	8,745
Other	32,936	42,569
Total other current liabilities	$ 61,806	$ 81,612

Condensed Consolidated Financ_5

Condensed Consolidated Financial Statements - Additional Information (Details) $ in Thousands	1 Months Ended	9 Months Ended
	Jul. 31, 2019USD ($)	Sep. 30, 2021USD ($)reportingUnit	Dec. 31, 2020USD ($)
Condensed Financial Statements, Captions [Line Items]
Right-of-use assets		$ 49,438	$ 41,243
Amount of off balance sheet settlement funds		196,000	246,800
Goodwill		$ 1,280,226	1,280,226
Number of reporting units | reportingUnit		2
India payment technology and services company
Condensed Financial Statements, Captions [Line Items]
Payments to acquire investment interest	$ 18,300
Percentage of voting interests acquired	30.00%
Equity method investment, amount recorded		$ 19,000	19,300
ACI On Demand
Condensed Financial Statements, Captions [Line Items]
Goodwill		554,300
ACI On Premise
Condensed Financial Statements, Captions [Line Items]
Goodwill		$ 725,900
Level 2 | Senior Notes | 5.750% Senior Notes due 2026
Condensed Financial Statements, Captions [Line Items]
Stated interest rate (percentage)		5.75%
Fair value of long-term debt		$ 420,000	$ 424,500
Corporate Headquarters
Condensed Financial Statements, Captions [Line Items]
Right-of-use assets		12,900
Operating lease liability		$ 15,200

Revenue - Summary of Total Rece

Revenue - Summary of Total Receivables, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Billed receivables	$ 147,247	$ 179,177
Allowance for doubtful accounts	(2,544)	(3,912)
Billed receivables, net	144,703	175,265
Current accrued receivables, net	154,633	167,614
Long-term accrued receivables, net	196,676	215,772
Total accrued receivables, net	351,309	383,386
Total receivables, net	$ 496,012	$ 558,651

Revenue - Summary of Changes in

Revenue - Summary of Changes in Deferred Revenue (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Balance, December 31, 2020	$ 129,413
Deferral of revenue	112,008
Recognition of deferred revenue	(101,306)
Foreign currency translation	(1,478)
Balance, September 30, 2021	$ 138,637

Revenue - Additional Informatio

Revenue - Additional Information (Details) $ in Millions	Sep. 30, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Revenue allocated to remaining performance obligations	$ 871.2
Revenue allocated to remaining performance obligations, percentage to be recognized over the next 12 months	55.00%

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	Apr. 05, 2019	Sep. 30, 2021	Dec. 31, 2020	Aug. 21, 2018
Debt Instrument [Line Items]
Long-term debt, amount outstanding		$ 1,087,898,000
Credit Agreement
Debt Instrument [Line Items]
Effective interest rate (percentage)		2.08%
Credit Agreement | LIBOR | Option (a)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.00%
Credit Agreement | LIBOR | Option (b) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.25%
Credit Agreement | LIBOR | Option (b) | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.25%
Credit Agreement | Base Rate | Option (a) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.25%
Credit Agreement | Base Rate | Option (a) | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.25%
Credit Agreement | Federal Funds Effective Rate | Option (a)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.50%
Overdraft Facility | Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, amount available		$ 75,000,000
Amount outstanding on overdraft facility		$ 0	$ 0
Overdraft Facility | Credit Agreement | Federal Funds Effective Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.25%
Senior Notes | 5.750% Senior notes, due August 2026
Debt Instrument [Line Items]
Long-term debt, amount outstanding		$ 400,000,000
Debt instrument, face amount				$ 400,000,000
Issue price percentage of senior notes of the principal amount				100.00%
Stated interest rate (percentage)				5.75%
Other | Multi-year License Agreement
Debt Instrument [Line Items]
Other long-term debt, amount outstanding		5,100,000	7,800,000
Other | Multi-year License Agreement | Other Current Liabilities
Debt Instrument [Line Items]
Other long-term debt, current		2,900,000	5,600,000
Other | Multi-year License Agreement | Other Noncurrent Liabilities
Debt Instrument [Line Items]
Other long-term debt, noncurrent		2,200,000	$ 2,200,000
Term Loans | Credit Agreement
Debt Instrument [Line Items]
Long-term debt, amount outstanding		687,900,000
Revolving Credit Facility | Credit Agreement
Debt Instrument [Line Items]
Unused borrowings		498,500,000
Debt instrument, term	5 years
Credit facility, maximum borrowing capacity	$ 500,000,000
Revolving Credit Facility | Letter of Credit | Credit Agreement
Debt Instrument [Line Items]
Unused borrowings		$ 1,500,000
Initial Term Loan | Credit Agreement
Debt Instrument [Line Items]
Debt instrument, term	5 years
Debt instrument, face amount	$ 279,000,000
Delayed Draw Term Loan | Credit Agreement
Debt Instrument [Line Items]
Debt instrument, term	5 years
Debt instrument, face amount	$ 500,000,000

Debt - Schedule of Maturities o

Debt - Schedule of Maturities on Long-Term Debt Outstanding (Details) $ in Thousands	Sep. 30, 2021USD ($)
Debt Disclosure [Abstract]
Remainder of 2021	$ 9,738
2022	50,431
2023	69,906
2024	557,823
2025	0
Thereafter	400,000
Total	$ 1,087,898

Debt - Summary of Total Debt (D

Debt - Summary of Total Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Aug. 21, 2018
Debt Instrument [Line Items]
Total debt	$ 1,074,320	$ 1,155,007
Debt issuance costs	(13,578)	(17,103)
Less: current portion of term loans	40,967	34,265
Less: current portion of debt issuance costs	(4,596)	(4,685)
Total long-term debt	1,033,353	1,120,742
Term Loans
Debt Instrument [Line Items]
Total debt	687,898	717,110
Less: current portion of term loans	45,563	38,950
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Total debt	0	55,000
Senior Notes | 5.750% Senior notes, due August 2026
Debt Instrument [Line Items]
Stated interest rate (percentage)			5.75%
Total debt	$ 400,000	$ 400,000

Software and Other Intangible_3

Software and Other Intangible Assets - Summary of Carrying Amount and Accumulated Amortization of Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 532,703	$ 536,504
Accumulated Amortization	(240,044)	(214,521)
Total	292,659	321,983
Software for resale
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	129,771	130,261
Accumulated Amortization	(127,842)	(123,418)
Total	1,929	6,843
Software for internal use
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	435,706	430,330
Accumulated Amortization	(270,699)	(240,717)
Total	165,007	189,613
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	565,477	560,591
Accumulated Amortization	(398,541)	(364,135)
Total	166,936	196,456
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	508,808	512,389
Accumulated Amortization	(221,889)	(197,787)
Total	286,919	314,602
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	23,895	24,115
Accumulated Amortization	(18,155)	(16,734)
Total	$ 5,740	$ 7,381

Software and Other Intangible_4

Software and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Other intangible assets amortization expense	$ 9.3	$ 9.3	$ 27.8	$ 27.8
Software for resale
Finite-Lived Intangible Assets [Line Items]
Software, amortization expense	1.5	2.1	4.9	6.1
Software for internal use
Finite-Lived Intangible Assets [Line Items]
Software, amortization expense	$ 17.5	$ 17.9	$ 51.8	$ 53.1
Minimum | Software for resale
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)			5 years
Minimum | Software for internal use
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)			3 years
Maximum | Software for resale
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)			10 years
Maximum | Software for internal use
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)			8 years

Software and Other Intangible_5

Software and Other Intangible Assets - Schedule of Estimated Amortization Expense for Future Fiscal Years Based on Capitalized Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Total	$ 292,659	$ 321,983
Software Amortization
Finite-Lived Intangible Assets [Line Items]
Remainder of 2021	17,995
2022	57,903
2023	39,950
2024	24,135
2025	19,171
Thereafter	7,782
Total	166,936
Other Intangible Assets Amortization
Finite-Lived Intangible Assets [Line Items]
Remainder of 2021	9,208
2022	36,681
2023	36,364
2024	31,860
2025	23,293
Thereafter	155,253
Total	$ 292,659

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)			0	0
Stock-based compensation expense	$ 6,367	$ 8,061	$ 20,790	$ 22,943
Stock-based compensation expense, tax benefits	$ 900	$ 1,400
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive plan, total intrinsic value of stock options exercised			7,800	$ 14,300
LTIP Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 400
Number of shares vested (in shares)			10,457
Shares withheld to pay employees' portion of minimum payroll withholding taxes (in shares)			4,527
Total Shareholder Return Awards (TSRs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested (in shares)			782,588
Shares withheld to pay employees' portion of minimum payroll withholding taxes (in shares)			205,373
Payout rate	200.00%		200.00%
Vesting performance period			3 years
Unrecognized compensation costs	$ 21,300		$ 21,300
Unrecognized compensation costs, weighted average recognition period			2 years
Restricted Share Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested (in shares)			522,608
Shares withheld to pay employees' portion of minimum payroll withholding taxes (in shares)			155,031
Unrecognized compensation costs	$ 23,500		$ 23,500
Unrecognized compensation costs, weighted average recognition period			1 year 10 months 24 days
2017 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued under ESPP (in shares)			86,877	114,709
2020 Equity and Incentive Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 20,800	$ 22,900
Stock-based compensation expense, tax benefits			$ 3,100	$ 4,200

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans - Summary of Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares
Number of Shares
Outstanding, beginning balance (in shares) | shares	2,186,511
Exercised (in shares) | shares	(380,676)
Outstanding, ending balance (in shares) | shares	1,805,835
Exercisable, ending balance (in shares) | shares	1,805,835
Weighted Average Exercise Price ($)
Beginning balance (in dollars per share) | $ / shares	$ 17.87
Exercised (in dollars per share) | $ / shares	19.05
Ending balance (in dollars per share) | $ / shares	17.63
Weighted average exercise price, exercisable, ending balance (in dollars per share) | $ / shares	$ 17.63
Weighted Average Remaining Contractual Term (Years)
Weighted average remaining contractual term, outstanding, end of period (in years)	3 years 3 months 7 days
Weighted average remaining contractual term, exercisable, end of period (in years)	3 years 3 months 7 days
Aggregate Intrinsic Value of In-the-Money Options ($)
Aggregate intrinsic value of in-the-money options, outstanding, end of period | $	$ 23,662,370
Aggregate intrinsic value of in-the-money options, exercisable, end of period | $	$ 23,662,370

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans - Summary of Nonvested TSRs (Details) - Total Shareholder Return Awards (TSRs)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Number of Shares
Nonvested, beginning balance (in shares) | shares	1,367,728
Granted (in shares) | shares	367,317
Vested (in shares) | shares	(782,588)
Forfeited (in shares) | shares	(153,681)
Change in payout rate (in shares) | shares	391,294
Nonvested, ending balance (in shares) | shares	1,190,070
Weighted Average Grant Date Fair Value
Nonvested, beginning balance (in dollars per share) | $ / shares	$ 34.59
Granted (in dollars per share) | $ / shares	50.60
Vested (in dollars per share) | $ / shares	31.31
Forfeited (in dollars per share) | $ / shares	38.57
Change in payout rate (in dollars per share) | $ / shares	31.31
Nonvested, ending balance (in dollars per share) | $ / shares	$ 40.10

Stock-Based Compensation Plan_5

Stock-Based Compensation Plans - Summary of Grant Date Fair Value Weighted Average Assumptions - TSRs (Details) - Total Shareholder Return Awards (TSRs) - Monte Carlo Simulation Valuation Model	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	2 years 9 months 18 days	2 years 9 months 18 days
Risk-free interest rate	0.30%	0.50%
Expected volatility	41.20%	31.40%
Expected dividend yield	0.00%	0.00%

Stock-Based Compensation Plan_6

Stock-Based Compensation Plans - Summary of Nonvested RSUs (Details) - Restricted Share Units (RSUs)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Number of Shares
Nonvested, beginning balance (in shares) | shares	1,118,182
Granted (in shares) | shares	578,220
Vested (in shares) | shares	(522,608)
Forfeited (in shares) | shares	(232,734)
Nonvested, ending balance (in shares) | shares	941,060
Weighted Average Grant Date Fair Value
Nonvested, beginning balance (in dollars per share) | $ / shares	$ 27.34
Granted (in dollars per share) | $ / shares	39.27
Vested (in dollars per share) | $ / shares	27.69
Forfeited (in dollars per share) | $ / shares	30.54
Nonvested, ending balance (in dollars per share) | $ / shares	$ 33.69

Common Stock and Treasury Sto_2

Common Stock and Treasury Stock (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Feb. 28, 2018
Equity [Abstract]
Amount approved for repurchase			$ 200,000,000
Shares repurchased (in shares)	1,000,000	1,000,000
Shares repurchased, value	$ 39,411,000	$ 28,881,000
Shares repurchased to date (in shares)	47,357,495
Shares repurchased to date, value	$ 651,700,000
Maximum remaining amount authorized for purchase	$ 72,700,000

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Weighted Average Share Amounts Used to Compute Basic and Diluted Earnings (Loss) Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Weighted average shares outstanding:
Basic weighted average shares outstanding (in shares)	117,512	116,558	117,574	116,217
Add: Dilutive effect of stock options and RSUs (in shares)	1,028	1,246	1,243	1,427
Diluted weighted average shares outstanding (in shares)	118,540	117,804	118,817	117,644

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Earnings Per Share [Abstract]
Antidilutive securities excluded from earnings (loss) per share, options to purchase shares and RSUs (in shares)	1,600,000	1,500,000	1,500,000	1,700,000
Common stock outstanding (in shares)	117,530,460		117,530,460		117,112,185

Other, Net (Details)

Other, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Other Income and Expenses [Abstract]
Other income (expense)	$ (1,088)	$ 1,356	$ (1,036)	$ (6,361)

Segment Information - Selected

Segment Information - Selected Financial Data (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Revenues	$ 316,914	$ 315,883	$ 903,769	$ 907,278
Depreciation and amortization	(33,380)	(35,490)	(100,366)	(105,004)
Stock-based compensation expense	(6,367)	(8,061)	(20,790)	(22,943)
Corporate and unallocated expenses	(46,066)	(49,762)	(133,593)	(142,127)
Interest, net	(8,374)	(9,998)	(25,390)	(35,457)
Other, net	(1,088)	1,356	(1,036)	(6,361)
Income before income taxes	18,517	22,540	20,667	7,219
Bill Payments
Segment Reporting Information [Line Items]
Revenues	146,181	149,464	446,974	440,543
Digital Business Banking
Segment Reporting Information [Line Items]
Revenues	16,527	14,443	47,319	45,327
Merchant Payments
Segment Reporting Information [Line Items]
Revenues	38,989	40,761	115,083	109,870
Fraud Management
Segment Reporting Information [Line Items]
Revenues	6,882	11,513	23,563	25,183
Real-Time Payments
Segment Reporting Information [Line Items]
Revenues	27,638	12,998	58,534	57,160
Issuing and Acquiring
Segment Reporting Information [Line Items]
Revenues	80,697	86,704	212,296	229,195
Banks
Segment Reporting Information [Line Items]
Revenues	131,744	125,658	341,712	356,865
Merchants
Segment Reporting Information [Line Items]
Revenues	38,989	40,761	115,083	109,870
Billers
Segment Reporting Information [Line Items]
Revenues	146,181	149,464	446,974	440,543
Operating Segments | Banks
Segment Reporting Information [Line Items]
Revenues	131,744	125,658	341,712	356,865
Segment Adjusted EBITDA	67,602	71,666	159,262	182,487
Operating Segments | Banks | Bill Payments
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments | Banks | Digital Business Banking
Segment Reporting Information [Line Items]
Revenues	16,527	14,443	47,319	45,327
Operating Segments | Banks | Merchant Payments
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments | Banks | Fraud Management
Segment Reporting Information [Line Items]
Revenues	6,882	11,513	23,563	25,183
Operating Segments | Banks | Real-Time Payments
Segment Reporting Information [Line Items]
Revenues	27,638	12,998	58,534	57,160
Operating Segments | Banks | Issuing and Acquiring
Segment Reporting Information [Line Items]
Revenues	80,697	86,704	212,296	229,195
Operating Segments | Merchants
Segment Reporting Information [Line Items]
Revenues	38,989	40,761	115,083	109,870
Segment Adjusted EBITDA	14,221	18,954	41,987	38,210
Operating Segments | Merchants | Bill Payments
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments | Merchants | Digital Business Banking
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments | Merchants | Merchant Payments
Segment Reporting Information [Line Items]
Revenues	38,989	40,761	115,083	109,870
Operating Segments | Merchants | Fraud Management
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments | Merchants | Real-Time Payments
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments | Merchants | Issuing and Acquiring
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments | Billers
Segment Reporting Information [Line Items]
Revenues	146,181	149,464	446,974	440,543
Segment Adjusted EBITDA	31,969	33,875	100,593	98,414
Operating Segments | Billers | Bill Payments
Segment Reporting Information [Line Items]
Revenues	146,181	149,464	446,974	440,543
Operating Segments | Billers | Digital Business Banking
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments | Billers | Merchant Payments
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments | Billers | Fraud Management
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments | Billers | Real-Time Payments
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments | Billers | Issuing and Acquiring
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0

Segment Information - Selecte_2

Segment Information - Selected Financial Data, Revenues and Long lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 316,914	$ 315,883	$ 903,769	$ 907,278
Long-lived assets
Long-lived assets	2,108,180		2,108,180		$ 2,174,513
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	199,195	199,209	587,002	611,383
Long-lived assets
Long-lived assets	1,383,348		1,383,348		1,423,862
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	117,719	116,674	316,767	295,895
Long-lived assets
Long-lived assets	724,832		724,832		$ 750,651
License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	54,454	56,773	110,383	135,038
Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	53,519	53,049	159,037	159,078
Banks
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	131,744	125,658	341,712	356,865
Banks | Software as a service and platform as a service
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	14,794	13,881	43,555	41,036
Banks | License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	51,062	48,997	102,993	123,735
Banks | Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	48,829	48,331	146,091	145,973
Banks | Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	17,059	14,449	49,073	46,121
Merchants
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	38,989	40,761	115,083	109,870
Merchants | Software as a service and platform as a service
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	30,561	27,099	93,336	82,648
Merchants | License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	3,392	7,776	7,296	11,209
Merchants | Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	4,610	4,643	12,705	12,864
Merchants | Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	426	1,243	1,746	3,149
Billers
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	146,181	149,464	446,974	440,543
Billers | Software as a service and platform as a service
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	146,101	149,389	446,639	440,208
Billers | License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	94	94
Billers | Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	80	75	241	241
Billers | Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Effective tax rate, percentage	26.00%	30.00%	11.00%	24.00%
Income (loss) from foreign entities	$ 18.1	$ 23.4	$ 27.7	$ (19.7)
Unrecognized tax benefit for uncertain tax positions	25.8		25.8		$ 24.3
Liabilities for interest and penalties, excluded from unrecognized tax benefits for uncertain tax positions	1.3		1.3		$ 1.2
Decrease in unrecognized tax benefits due to the settlement of various audits and expiration of statutes of limitations	$ 3.5		$ 3.5

Commitments and Contingencies (

Commitments and Contingencies (Details)	Sep. 30, 2021lawsuit
Commitments and Contingencies Disclosure [Abstract]
Number of class action lawsuits filed	7