ACI Worldwide (ACIW) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Aug. 02, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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	2811 Ponce de Leon Blvd
Entity Address, Address Line Two	PH 1
Entity Address, City or Town	Coral Gables,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33134
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		114,047,260
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	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000935036
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 118,953	$ 122,059
Receivables, net of allowances of $2,923 and $2,861, respectively	326,852	320,405
Settlement assets	549,019	452,396
Prepaid expenses	34,027	24,698
Other current assets	16,951	17,876
Total current assets	1,045,802	937,434
Noncurrent assets
Accrued receivables, net	268,075	276,164
Property and equipment, net	56,233	63,050
Operating lease right-of-use assets	40,833	47,825
Software, net	147,133	157,782
Goodwill	1,280,226	1,280,226
Intangible assets, net	261,782	283,004
Deferred income taxes, net	53,885	50,778
Other noncurrent assets	64,699	62,478
TOTAL ASSETS	3,218,668	3,158,741
Current liabilities
Accounts payable	41,084	41,312
Settlement liabilities	548,524	451,575
Employee compensation	40,076	51,379
Current portion of long-term debt	55,688	45,870
Deferred revenue	81,065	84,425
Other current liabilities	78,565	79,594
Total current liabilities	845,002	754,155
Noncurrent liabilities
Deferred revenue	31,231	25,925
Long-term debt	1,031,134	1,019,872
Deferred income taxes, net	30,982	36,122
Operating lease liabilities	35,120	43,346
Other noncurrent liabilities	36,835	34,544
Total liabilities	2,010,304	1,913,964
Commitments and contingencies
Stockholders’ equity
Preferred stock; $0.01 par value; 5,000,000 shares authorized; no shares issued at June 30, 2022, and December 31, 2021	0	0
Common stock; $0.005 par value; 280,000,000 shares authorized; 140,525,055 shares issued at June 30, 2022, and December 31, 2021	702	702
Additional paid-in capital	690,574	688,313
Retained earnings	1,160,113	1,131,281
Treasury stock, at cost, 26,229,902 and 24,795,009 shares at June 30, 2022, and December 31, 2021, respectively	(528,758)	(475,972)
Accumulated other comprehensive loss	(114,267)	(99,547)
Total stockholders’ equity	1,208,364	1,244,777
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 3,218,668	$ 3,158,741

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Receivables, allowances	$ 2,923	$ 2,861
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)	26,229,902	24,795,009

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Revenues		$ 340,425	$ 301,669	$ 663,505	$ 586,855
Operating expenses
Cost of revenue	[1]	179,333	158,614	345,619	318,099
Research and development		40,642	35,029	78,449	69,543
Selling and marketing		35,391	28,660	69,999	56,798
General and administrative		28,362	31,937	54,237	59,712
Depreciation and amortization		32,240	32,005	63,078	63,589
Total operating expenses		315,968	286,245	611,382	567,741
Operating income		24,457	15,424	52,123	19,114
Other income (expense)
Interest expense		(11,784)	(11,260)	(22,678)	(22,735)
Interest income		3,051	2,865	6,210	5,719
Other, net		2,006	1,434	4,256	52
Total other income (expense)		(6,727)	(6,961)	(12,212)	(16,964)
Income before income taxes		17,730	8,463	39,911	2,150
Income tax expense (benefit)		4,388	1,962	11,079	(2,406)
Net income		$ 13,342	$ 6,501	$ 28,832	$ 4,556
Income per common share
Basic (in dollars per share)		$ 0.12	$ 0.06	$ 0.25	$ 0.04
Diluted (in dollars per share)		$ 0.12	$ 0.05	$ 0.25	$ 0.04
Weighted average common shares outstanding
Basic (in shares)		114,669	117,718	114,976	117,605
Diluted (in shares)		115,205	119,010	115,649	118,958
Software as a service and platform as a service
Revenues
Revenues		$ 206,978	$ 196,328	$ 401,540	$ 392,074
License
Revenues
Revenues		64,314	34,727	124,599	55,929
Maintenance
Revenues
Revenues		50,562	53,155	101,980	105,518
Services
Revenues
Revenues		$ 18,571	$ 17,459	$ 35,386	$ 33,334
[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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 13,342	$ 6,501	$ 28,832	$ 4,556
Other comprehensive income (loss):
Foreign currency translation adjustments	(12,620)	1,466	(14,720)	(1,650)
Total other comprehensive income (loss)	(12,620)	1,466	(14,720)	(1,650)
Comprehensive income	$ 722	$ 7,967	$ 14,112	$ 2,906

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, 2020	$ 1,206,597	$ 702	$ 682,431	$ 1,003,490	$ (387,581)	$ (92,445)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	4,556			4,556
Other comprehensive income (loss)	(1,650)					(1,650)
Stock-based compensation	14,423		14,423
Shares issued and forfeited, net, under stock plans	8,841		(20,455)		29,296
Repurchase of shares of common stock	(39,411)				(39,411)
Repurchase of stock-based compensation awards for tax withholdings	(14,796)				(14,796)
Ending balance at Jun. 30, 2021	1,178,560	702	676,399	1,008,046	(412,492)	(94,095)
Beginning balance at Mar. 31, 2021	1,197,717	702	670,018	1,001,545	(378,987)	(95,561)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,501			6,501
Other comprehensive income (loss)	1,466					1,466
Stock-based compensation	7,720		7,720
Shares issued and forfeited, net, under stock plans	5,157		(1,339)		6,496
Repurchase of shares of common stock	(39,411)				(39,411)
Repurchase of stock-based compensation awards for tax withholdings	(590)				(590)
Ending balance at Jun. 30, 2021	1,178,560	702	676,399	1,008,046	(412,492)	(94,095)
Beginning balance at Dec. 31, 2021	1,244,777	702	688,313	1,131,281	(475,972)	(99,547)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	28,832			28,832
Other comprehensive income (loss)	(14,720)					(14,720)
Stock-based compensation	14,758		14,758
Shares issued and forfeited, net, under stock plans	3,226		(12,497)		15,723
Repurchase of shares of common stock	(62,707)				(62,707)
Repurchase of stock-based compensation awards for tax withholdings	(5,802)				(5,802)
Ending balance at Jun. 30, 2022	1,208,364	702	690,574	1,160,113	(528,758)	(114,267)
Beginning balance at Mar. 31, 2022	1,224,667	702	685,354	1,146,771	(506,513)	(101,647)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	13,342			13,342
Other comprehensive income (loss)	(12,620)					(12,620)
Stock-based compensation	6,800		6,800
Shares issued and forfeited, net, under stock plans	1,287		(1,580)		2,867
Repurchase of shares of common stock	(24,847)				(24,847)
Repurchase of stock-based compensation awards for tax withholdings	(265)				(265)
Ending balance at Jun. 30, 2022	$ 1,208,364	$ 702	$ 690,574	$ 1,160,113	$ (528,758)	$ (114,267)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Repurchase of common stock (in shares)	924,240	1,000,000	2,055,488	1,000,000

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income	$ 28,832	$ 4,556
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation	11,008	10,708
Amortization	52,721	56,278
Amortization of operating lease right-of-use assets	5,489	5,000
Amortization of deferred debt issuance costs	2,299	2,357
Deferred income taxes	(6,385)	(9,558)
Stock-based compensation expense	14,758	14,423
Other	1,124	436
Changes in operating assets and liabilities:
Receivables	(14,040)	76,754
Accounts payable	(1,319)	(2,540)
Accrued employee compensation	(10,201)	(8,401)
Deferred revenue	5,532	297
Other current and noncurrent assets and liabilities	(22,055)	(45,325)
Net cash flows from operating activities	67,763	104,985
Cash flows from investing activities:
Purchases of property and equipment	(3,657)	(8,075)
Purchases of software and distribution rights	(10,738)	(15,652)
Net cash flows from investing activities	(14,395)	(23,727)
Cash flows from financing activities:
Proceeds from issuance of common stock	1,962	1,648
Proceeds from exercises of stock options	1,397	7,044
Repurchase of stock-based compensation awards for tax withholdings	(5,802)	(14,796)
Repurchases of common stock	(62,707)	(39,411)
Proceeds from revolving credit facility	60,000	0
Repayment of revolving credit facility	(20,000)	(30,000)
Repayment of term portion of credit agreement	(21,219)	(19,475)
Payments on or proceeds from other debt, net	(9,369)	(8,272)
Net decrease in settlement assets and liabilities	(4,575)	(78,081)
Net cash flows from financing activities	(60,313)	(181,343)
Effect of exchange rate fluctuations on cash	(1,062)	(388)
Net decrease in cash and cash equivalents	(8,007)	(100,473)
Cash and cash equivalents, including settlement deposits, beginning of period	184,142	265,382
Cash and cash equivalents, including settlement deposits, end of period	176,135	164,909
Reconciliation of cash and cash equivalents to the Consolidated Balance Sheets
Cash and cash equivalents	118,953	146,213
Settlement deposits	57,182	18,696
Total cash and cash equivalents, including settlement deposits	176,135	164,909
Supplemental cash flow information
Income taxes paid	18,467	21,263
Interest paid	$ 20,296	$ 20,242

Condensed Consolidated Financia

Condensed Consolidated Financial Statements	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022, and for the three and six months ended June 30, 2022 and 2021, 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, 2021, 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, 2021, filed on February 24, 2022. Results for the three and six months ended June 30, 2022, 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. These estimates and assumptions are affected by management’s application of accounting policies, as well as uncertainty in the current economic environment due to COVID-19. Actual results could differ from those estimates. Revision of Prior Period Financial Statements As of December 31, 2021, the Company revised the previously reported consolidated statements of cash flows to include settlement deposits in total cash and cash equivalents and settlement receivables and settlement liabilities net activity in cash flows from financing activities, both of which were previously included in cash flows from operating activities. This immaterial revision did not have an effect on its previously reported consolidated balance sheets, statements of operations, statements of comprehensive income, or statements of stockholders' equity. A summary of the revisions to the previously reported balances are presented in the table below for comparative purposes (in thousands): Six Months Ended June 30, 2021 As reported Revision adjustment As revised Cash flows from operating activities: Other current and noncurrent assets and liabilities $ (42,094) $ (3,231) $ (45,325) Net cash flows from operating activities 108,216 (3,231) 104,985 Cash flows from financing activities: Net decrease in settlement assets and liabilities $ — $ (78,081) $ (78,081) Net cash flows from financing activities (103,262) (78,081) (181,343) Net decrease in cash and cash equivalents $ (19,161) $ (81,312) $ (100,473) Cash and cash equivalents, including settlement deposits, beginning of period 165,374 100,008 265,382 Cash and cash equivalents, including settlement deposits, end of period 146,213 18,696 164,909 Other Current Liabilities The components of other current liabilities are included in the following table (in thousands): June 30, 2022 December 31, 2021 Vendor financed licenses $ 13,423 $ 12,521 Operating lease liabilities 11,738 11,518 Accrued interest 8,791 8,776 Royalties payable 3,409 4,102 Other 41,204 42,677 Total other current liabilities $ 78,565 $ 79,594 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 June 30, 2022, and December 31, 2021, was $227.2 million and $272.8 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 $388.0 million and $419.0 million as of June 30, 2022, and December 31, 2021, 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 has identified its operating segments, Banks, Merchants, and Billers, as the reporting units. As of June 30, 2022, the Company's goodwill balance of $1.3 billion was allocated $725.9 million to Banks, $137.3 million to Merchants, and $417.0 million to Billers. Recoverability of goodwill is measured using a discounted cash flow 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, 2021, annual impairment test and there have been no indications of impairment in the subsequent periods. 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 $18.5 million and $19.3 million, which is included in other noncurrent assets in the condensed consolidated balance sheet as of June 30, 2022, and December 31, 2021, respectively.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2022
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 10, 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): June 30, 2022 December 31, 2021 Billed receivables $ 166,163 $ 162,479 Allowance for doubtful accounts (2,923) (2,861) Billed receivables, net 163,240 159,618 Current accrued receivables, net 163,612 160,787 Long-term accrued receivables, net 268,075 276,164 Total accrued receivables, net 431,687 436,951 Total receivables, net $ 594,927 $ 596,569 One customer accounted for 12.4% and 13.8% of the Company's consolidated receivables balance as of June 30, 2022 and December 31, 2021. 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, 2021 $ 110,350 Deferral of revenue 68,352 Recognition of deferred revenue (62,717) Foreign currency translation (3,689) Balance, June 30, 2022 $ 112,296 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 $749.6 million as of June 30, 2022, of which the Company expects to recognize approximately 46% over the next 12 months and the remainder thereafter. During the three and six months ended June 30, 2022 and 2021, revenue recognized by the Company from performance obligations satisfied in previous periods was not significant.

Divestiture

Divestiture	6 Months Ended
	Jun. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Divestiture	Divestiture Corporate Online Banking Solutions On June 7, 2022, the Company announced a definitive agreement to divest its corporate online banking solutions related assets and liabilities to One Equity Partners ("OEP") for $100.0 million. The sale includes employees and customer contracts as well as technology assets and intellectual property and is expected to close during the three months ending September 30, 2022. The Company and OEP have also entered into a Transition Services Agreement ("TSA"), whereby the Company will continue to perform certain functions on OEP's behalf during a migration period not expected to exceed 18 months. The TSA is meant to reimburse the Company for direct costs in order to provide such functions, which are no longer generating revenue for the Company.

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt As of June 30, 2022, the Company had $40.0 million, $656.9 million, and $400.0 million outstanding under its Revolving Credit Facility, Term Loans, and Senior Notes, respectively, with up to $458.5 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. On May 5, 2022, the Company and Bank of America entered into the LIBOR Transition Amendment (the "Amendment") that replaced the LIBOR reference rate with the Secured Overnight Financing Rate ("SOFR") reference rate. No other terms or conditions of the Credit Agreement were changed as a result of the Amendment. 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) SOFR 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 SOFR 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 SOFR rate borrowings. Interest is due and payable monthly. The interest rate in effect for the Credit Facility as of June 30, 2022, was 3.37%. 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 SOFR 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. 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 June 30, 2022, are as follows (in thousands): Fiscal Year Ending December 31, Remainder of 2022 $ 29,212 2023 69,906 2024 597,823 2025 — 2026 400,000 Thereafter — Total $ 1,096,941 As of June 30, 2022, 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): June 30, 2022 December 31, 2021 Term loans $ 656,941 $ 678,160 Revolving credit facility 40,000 — 5.750% Senior notes, due August 2026 400,000 400,000 Debt issuance costs (10,119) (12,418) Total debt 1,086,822 1,065,742 Less: current portion of term loans 60,169 50,431 Less: current portion of debt issuance costs (4,481) (4,561) Total long-term debt $ 1,031,134 $ 1,019,872 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 June 30, 2022, there was $75.0 million available and no amount outstanding on the overdraft facility. As of December 31, 2021, 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. During the six months ended June 30, 2022, the Company financed certain multi-year license agreements for internal-use software for $10.7 million, with annual payments through April 2024. As of June 30, 2022, $9.5 million was outstanding on these and other license agreements previously entered into, of which $5.9 million and $3.6 million is included in other current liabilities and other noncurrent liabilities, respectively, in the condensed consolidated balance sheet. As of December 31, 2021, $2.9 million was outstanding on these agreements, all of which is included in other current liabilities in the condensed consolidated balance sheet.

Software and Other Intangible A

Software and Other Intangible Assets	6 Months Ended
	Jun. 30, 2022
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): June 30, 2022 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Balance Gross Carrying Amount Accumulated Amortization Net Balance Software for internal use $ 445,098 $ (297,965) $ 147,133 $ 440,242 $ (283,109) $ 157,133 Software for resale 124,401 (124,401) — 127,904 (127,255) 649 Total software $ 569,499 $ (422,366) $ 147,133 $ 568,146 $ (410,364) $ 157,782 Amortization of software for internal use is computed using the straight-line method over an estimated useful life of generally three 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 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): June 30, 2022 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Balance Gross Carrying Amount Accumulated Amortization Net Balance Customer relationships $ 500,290 $ (242,608) $ 257,682 $ 507,962 $ (230,152) $ 277,810 Trademarks and trade names 23,323 (19,223) 4,100 23,839 (18,645) 5,194 Total other intangible assets $ 523,613 $ (261,831) $ 261,782 $ 531,801 $ (248,797) $ 283,004 Other intangible assets amortization expense recorded during the three months ended June 30, 2022 and 2021, totaled $9.1 million and $9.2 million, respectively. Other intangible assets amortization expense recorded during the six months ended June 30, 2022 and 2021, totaled $18.3 million and $18.5 million, respectively. Based on capitalized intangible assets as of June 30, 2022, 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 2022 $ 33,222 $ 17,974 2023 50,446 35,767 2024 33,058 31,371 2025 22,384 22,983 2026 7,966 22,983 Thereafter 57 130,704 Total $ 147,133 $ 261,782

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2022
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 six months ended June 30, 2022 and 2021, totaled 70,242 and 55,486, 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, 2021 1,640,319 $ 18.42 Exercised (77,403) 18.04 Outstanding as of June 30, 2022 1,562,916 $ 18.44 2.59 $ 11,639,158 Exercisable as of June 30, 2022 1,562,916 $ 18.44 2.59 $ 11,639,158 The total intrinsic value of stock options exercised during the six months ended June 30, 2022 and 2021, was $1.1 million and $7.6 million, respectively. There were no stock options granted during the six months ended June 30, 2022 or 2021. 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, 2021 1,154,721 $ 40.10 Granted 520,020 42.99 Vested (212,210) 45.86 Forfeited (133,578) 40.09 Change in payout rate (114,355) 45.92 Nonvested as of June 30, 2022 1,214,598 $ 39.78 During the six months ended June 30, 2022, a total of 212,210 TSRs awards granted in fiscal 2019 vested and achieved a payout rate of 65% 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 47,612 of those shares to pay the employees’ portion of the minimum payroll withholding taxes. The fair value of TSRs granted during the six months ended June 30, 2022 and 2021, 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: Six months ended June 30, 2022 2021 Expected life (years) 3.1 2.8 Risk-free interest rate 1.5 % 0.3 % Expected volatility 40.0 % 41.2 % 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, 2021 946,151 $ 33.57 Granted 756,517 31.69 Vested (440,275) 33.00 Forfeited (123,690) 32.76 Nonvested as of June 30, 2022 1,138,703 $ 32.62 During the six months ended June 30, 2022, a total of 440,275 RSUs vested. The Company withheld 131,923 of those shares to pay the employees’ portion of the minimum payroll withholding taxes. As of June 30, 2022, there were unrecognized compensation costs of $31.3 million and $28.6 million related to nonvested RSUs and TSRs, respectively, which the Company expects to recognize over a weighted average period of 2.2 years.

Common Stock and Treasury Stock

Common Stock and Treasury Stock	6 Months Ended
	Jun. 30, 2022
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 December 2021, the board approved the repurchase of the Company's common stock of up to $250.0 million, in place of the remaining purchase amounts previously authorized. The Company repurchased 2,055,488 shares for $62.7 million during the six months ended June 30, 2022. Under the program to date, the Company has repurchased 51,412,983 shares for approximately $782.4 million. As of June 30, 2022, the maximum remaining amount authorized for purchase under the stock repurchase program was $153.6 million.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Weighted average shares outstanding: Basic weighted average shares outstanding 114,669 117,718 114,976 117,605 Add: Dilutive effect of stock options and RSUs 536 1,292 673 1,353 Diluted weighted average shares outstanding 115,205 119,010 115,649 118,958 The diluted earnings per share computation excludes 2.2 million and 1.3 million options to purchase shares, RSUs, and contingently issuable shares during the three months ended June 30, 2022 and 2021, respectively, as their effect would be anti-dilutive. The diluted earnings per share computation excludes 2.0 million and 1.4 million options to purchase shares, RSUs, and contingently issuable shares during the six months ended June 30, 2022 and 2021, respectively, as their effect would be anti-dilutive. Common stock outstanding as of June 30, 2022, and December 31, 2021, was 114,295,153 and 115,730,046, respectively.

Other, Net

Other, Net	6 Months Ended
	Jun. 30, 2022
Other Income and Expenses [Abstract]
Other, Net	Other, NetOther, net is primarily comprised of foreign currency transaction gains and losses. Other, net was $2.0 million and $1.4 million of income for the three months ended June 30, 2022 and 2021, respectively. Other, net was $4.3 million and $0.1 million of income for the six months ended June 30, 2022 and 2021, respectively.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information The Company reports financial performance based on its 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 chief operating decision maker ("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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue Banks $ 141,946 $ 114,051 $ 274,144 $ 209,968 Merchants 36,534 37,424 77,536 76,094 Billers 161,945 150,194 311,825 300,793 Total revenue $ 340,425 $ 301,669 $ 663,505 $ 586,855 Segment Adjusted EBITDA Banks $ 70,160 $ 54,465 $ 134,874 $ 91,660 Merchants 7,749 13,041 22,462 27,766 Billers 28,324 34,603 54,681 68,624 Depreciation and amortization (32,240) (33,403) (63,729) (66,986) Stock-based compensation expense (6,800) (7,720) (14,758) (14,423) Corporate and unallocated expenses (42,736) (45,562) (81,407) (87,527) Interest, net (8,733) (8,395) (16,468) (17,016) Other, net 2,006 1,434 4,256 52 Income before income taxes $ 17,730 $ 8,463 $ 39,911 $ 2,150 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 June 30, 2022 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 161,945 $ 161,945 Digital Business Banking 12,097 — — 12,097 Merchant Payments — 36,534 — 36,534 Fraud Management 7,552 — — 7,552 Real-Time Payments 24,212 — — 24,212 Issuing and Acquiring 98,085 — — 98,085 Total $ 141,946 $ 36,534 $ 161,945 $ 340,425 Three Months Ended June 30, 2021 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 150,194 $ 150,194 Digital Business Banking 15,700 — — 15,700 Merchant Payments — 37,424 — 37,424 Fraud Management 10,457 — — 10,457 Real-Time Payments 17,711 — — 17,711 Issuing and Acquiring 70,183 — — 70,183 Total $ 114,051 $ 37,424 $ 150,194 $ 301,669 Six Months Ended June 30, 2022 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 311,825 $ 311,825 Digital Business Banking 25,585 — — 25,585 Merchant Payments — 77,536 — 77,536 Fraud Management 15,329 — — 15,329 Real-Time Payments 46,139 — — 46,139 Issuing and Acquiring 187,091 — — 187,091 Total $ 274,144 $ 77,536 $ 311,825 $ 663,505 Six Months Ended June 30, 2021 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 300,793 $ 300,793 Digital Business Banking 30,792 — — 30,792 Merchant Payments — 76,094 — 76,094 Fraud Management 16,681 — — 16,681 Real-Time Payments 30,896 — — 30,896 Issuing and Acquiring 131,599 — — 131,599 Total $ 209,968 $ 76,094 $ 300,793 $ 586,855 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Banks Software as a service and platform as a service $ 13,985 $ 14,482 $ 27,937 $ 28,761 License 62,942 33,913 117,381 51,931 Maintenance 46,744 49,132 94,087 97,262 Services 18,275 16,524 34,739 32,014 Total $ 141,946 $ 114,051 $ 274,144 $ 209,968 Merchants Software as a service and platform as a service $ 31,058 $ 31,732 $ 61,825 $ 62,775 License 1,372 814 7,218 3,904 Maintenance 3,808 3,943 7,846 8,095 Services 296 935 647 1,320 Total $ 36,534 $ 37,424 $ 77,536 $ 76,094 Billers Software as a service and platform as a service $ 161,935 $ 150,114 $ 311,778 $ 300,538 License — — — 94 Maintenance 10 80 47 161 Services — — — — Total $ 161,945 $ 150,194 $ 311,825 $ 300,793 The following is the Company's revenue by geographic location for the periods indicated (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue United States $ 209,459 $ 195,830 $ 408,774 $ 387,807 Other 130,966 105,839 254,731 199,048 Total $ 340,425 $ 301,669 $ 663,505 $ 586,855 The following is the Company’s long-lived assets by geographic location for the periods indicated (in thousands): June 30, 2022 December 31, 2021 Long-lived Assets United States $ 1,382,374 $ 1,425,391 Other 736,607 745,138 Total $ 2,118,981 $ 2,170,529 No single customer accounted for more than 10% of the Company’s consolidated revenues during the three and six months ended June 30, 2022 and 2021. No other country outside the United States accounted for more than 10% of the Company's consolidated revenues during the six months ended June 30, 2022 and 2021.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and six months ended June 30, 2022, the Company's effective tax rate was 25% and 28%, respectively. The Company reported tax expense on pretax income for both the three and six months ended June 30, 2022, with foreign entities recognizing earnings of $27.4 million and $58.3 million, respectively. The effective tax rate for the three and six months ended June 30, 2022, was negatively impacted by excess tax expense on equity-based compensation. For the three and six months ended June 30, 2021, the Company's effective tax rate was 23% and (112)%, respectively. The Company reported tax expense on pretax income for the three months ended June 30, 2021, and a tax benefit on pretax income for the six months ended June 30, 2021, with foreign entities recognizing earnings of $10.2 million and $9.6 million, respectively. The effective tax rate for the three and six months ended June 30, 2021, was positively impacted by excess tax benefits on equity-based compensation. 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 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 June 30, 2022, and December 31, 2021, the amount of unrecognized tax benefits for uncertain tax positions was $24.1 million and $24.5 million, respectively, excluding related liabilities for interest and penalties of $1.0 million and $1.1 million as of June 30, 2022, and December 31, 2021, 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 $6.1 million, due to the settlement of various audits and the expiration of statutes of limitation.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
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 U.S. Consumer Financial Protection Bureau and various state regulatory agencies contacted the Company about this incident and the Company has furnished information to these authorities and is cooperating in their investigations. These investigations could result in material fines, penalties, and statutory damages as well as burdensome and costly injunctive remedies. 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 by the inadvertent ACH file transmission. The complaints vary, but generally allege violations of federal and state statutes and claim that the Company is obligated to pay statutory and other damages to class members. The Company has entered into an agreement to settle all of these lawsuits. The agreement, which is subject to court approval and other conditions, involves the establishment of (i) a $5.0 million fund out of which payments would be made to class members and for attorneys’ fees and administrative costs, plus (ii) additional funds totaling $1.5 million that could be required to be established in certain circumstances. There can be no assurance that the conditions to settlement will be satisfied. The Company has asserted claims for insurance coverage with respect to potential losses associated with this matter. There can be no assurance as to the amount of insurance that may be available.

Condensed Consolidated Financ_2

Condensed Consolidated Financial Statements (Policies)	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022, and for the three and six months ended June 30, 2022 and 2021, 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, 2021, 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, 2021, filed on February 24, 2022. Results for the three and six months ended June 30, 2022, 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. These estimates and assumptions are affected by management’s application of accounting policies, as well as uncertainty in the current economic environment due to COVID-19. Actual results could differ from those estimates.
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 has identified its operating segments, Banks, Merchants, and Billers, as the reporting units. As of June 30, 2022, the Company's goodwill balance of $1.3 billion was allocated $725.9 million to Banks, $137.3 million to Merchants, and $417.0 million to Billers. Recoverability of goodwill is measured using a discounted cash flow 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, 2021, annual impairment test and there have been no indications of impairment in the subsequent periods.
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 $18.5 million and $19.3 million, which is included in other noncurrent assets in the condensed consolidated balance sheet as of June 30, 2022, and December 31, 2021, respectively.

Condensed Consolidated Financ_3

Condensed Consolidated Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	A summary of the revisions to the previously reported balances are presented in the table below for comparative purposes (in thousands): Six Months Ended June 30, 2021 As reported Revision adjustment As revised Cash flows from operating activities: Other current and noncurrent assets and liabilities $ (42,094) $ (3,231) $ (45,325) Net cash flows from operating activities 108,216 (3,231) 104,985 Cash flows from financing activities: Net decrease in settlement assets and liabilities $ — $ (78,081) $ (78,081) Net cash flows from financing activities (103,262) (78,081) (181,343) Net decrease in cash and cash equivalents $ (19,161) $ (81,312) $ (100,473) Cash and cash equivalents, including settlement deposits, beginning of period 165,374 100,008 265,382 Cash and cash equivalents, including settlement deposits, end of period 146,213 18,696 164,909
Summary of Other Current Liabilities	The components of other current liabilities are included in the following table (in thousands): June 30, 2022 December 31, 2021 Vendor financed licenses $ 13,423 $ 12,521 Operating lease liabilities 11,738 11,518 Accrued interest 8,791 8,776 Royalties payable 3,409 4,102 Other 41,204 42,677 Total other current liabilities $ 78,565 $ 79,594

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Summary of Total Receivables, Net	Total receivables, net is comprised of the following (in thousands): June 30, 2022 December 31, 2021 Billed receivables $ 166,163 $ 162,479 Allowance for doubtful accounts (2,923) (2,861) Billed receivables, net 163,240 159,618 Current accrued receivables, net 163,612 160,787 Long-term accrued receivables, net 268,075 276,164 Total accrued receivables, net 431,687 436,951 Total receivables, net $ 594,927 $ 596,569
Summary of Changes in Deferred Revenue	Changes in deferred revenue were as follows (in thousands): Balance, December 31, 2021 $ 110,350 Deferral of revenue 68,352 Recognition of deferred revenue (62,717) Foreign currency translation (3,689) Balance, June 30, 2022 $ 112,296

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Summary of Maturities on Debt Outstanding	Maturities on debt outstanding as of June 30, 2022, are as follows (in thousands): Fiscal Year Ending December 31, Remainder of 2022 $ 29,212 2023 69,906 2024 597,823 2025 — 2026 400,000 Thereafter — Total $ 1,096,941
Summary of Total Debt	Total debt is comprised of the following (in thousands): June 30, 2022 December 31, 2021 Term loans $ 656,941 $ 678,160 Revolving credit facility 40,000 — 5.750% Senior notes, due August 2026 400,000 400,000 Debt issuance costs (10,119) (12,418) Total debt 1,086,822 1,065,742 Less: current portion of term loans 60,169 50,431 Less: current portion of debt issuance costs (4,481) (4,561) Total long-term debt $ 1,031,134 $ 1,019,872

Software and Other Intangible_2

Software and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
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): June 30, 2022 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Balance Gross Carrying Amount Accumulated Amortization Net Balance Software for internal use $ 445,098 $ (297,965) $ 147,133 $ 440,242 $ (283,109) $ 157,133 Software for resale 124,401 (124,401) — 127,904 (127,255) 649 Total software $ 569,499 $ (422,366) $ 147,133 $ 568,146 $ (410,364) $ 157,782 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): June 30, 2022 December 31, 2021 Gross Carrying Amount Accumulated Amortization Net Balance Gross Carrying Amount Accumulated Amortization Net Balance Customer relationships $ 500,290 $ (242,608) $ 257,682 $ 507,962 $ (230,152) $ 277,810 Trademarks and trade names 23,323 (19,223) 4,100 23,839 (18,645) 5,194 Total other intangible assets $ 523,613 $ (261,831) $ 261,782 $ 531,801 $ (248,797) $ 283,004
Schedule of Estimated Intangible Asset Amortization Expense in Future Fiscal Years	Based on capitalized intangible assets as of June 30, 2022, 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 2022 $ 33,222 $ 17,974 2023 50,446 35,767 2024 33,058 31,371 2025 22,384 22,983 2026 7,966 22,983 Thereafter 57 130,704 Total $ 147,133 $ 261,782

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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, 2021 1,640,319 $ 18.42 Exercised (77,403) 18.04 Outstanding as of June 30, 2022 1,562,916 $ 18.44 2.59 $ 11,639,158 Exercisable as of June 30, 2022 1,562,916 $ 18.44 2.59 $ 11,639,158
Total Shareholder Return Awards (TSRs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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, 2021 1,154,721 $ 40.10 Granted 520,020 42.99 Vested (212,210) 45.86 Forfeited (133,578) 40.09 Change in payout rate (114,355) 45.92 Nonvested as of June 30, 2022 1,214,598 $ 39.78
Total Shareholder Return Awards (TSRs) | Monte Carlo Simulation Model
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Grant Date Fair Value Weighted-Average Assumptions, Awards Other Than Options	The fair value of TSRs granted during the six months ended June 30, 2022 and 2021, 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: Six months ended June 30, 2022 2021 Expected life (years) 3.1 2.8 Risk-free interest rate 1.5 % 0.3 % Expected volatility 40.0 % 41.2 % Expected dividend yield — —
Restricted Share Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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, 2021 946,151 $ 33.57 Granted 756,517 31.69 Vested (440,275) 33.00 Forfeited (123,690) 32.76 Nonvested as of June 30, 2022 1,138,703 $ 32.62

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Weighted average shares outstanding: Basic weighted average shares outstanding 114,669 117,718 114,976 117,605 Add: Dilutive effect of stock options and RSUs 536 1,292 673 1,353 Diluted weighted average shares outstanding 115,205 119,010 115,649 118,958

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue Banks $ 141,946 $ 114,051 $ 274,144 $ 209,968 Merchants 36,534 37,424 77,536 76,094 Billers 161,945 150,194 311,825 300,793 Total revenue $ 340,425 $ 301,669 $ 663,505 $ 586,855 Segment Adjusted EBITDA Banks $ 70,160 $ 54,465 $ 134,874 $ 91,660 Merchants 7,749 13,041 22,462 27,766 Billers 28,324 34,603 54,681 68,624 Depreciation and amortization (32,240) (33,403) (63,729) (66,986) Stock-based compensation expense (6,800) (7,720) (14,758) (14,423) Corporate and unallocated expenses (42,736) (45,562) (81,407) (87,527) Interest, net (8,733) (8,395) (16,468) (17,016) Other, net 2,006 1,434 4,256 52 Income before income taxes $ 17,730 $ 8,463 $ 39,911 $ 2,150
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 June 30, 2022 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 161,945 $ 161,945 Digital Business Banking 12,097 — — 12,097 Merchant Payments — 36,534 — 36,534 Fraud Management 7,552 — — 7,552 Real-Time Payments 24,212 — — 24,212 Issuing and Acquiring 98,085 — — 98,085 Total $ 141,946 $ 36,534 $ 161,945 $ 340,425 Three Months Ended June 30, 2021 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 150,194 $ 150,194 Digital Business Banking 15,700 — — 15,700 Merchant Payments — 37,424 — 37,424 Fraud Management 10,457 — — 10,457 Real-Time Payments 17,711 — — 17,711 Issuing and Acquiring 70,183 — — 70,183 Total $ 114,051 $ 37,424 $ 150,194 $ 301,669 Six Months Ended June 30, 2022 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 311,825 $ 311,825 Digital Business Banking 25,585 — — 25,585 Merchant Payments — 77,536 — 77,536 Fraud Management 15,329 — — 15,329 Real-Time Payments 46,139 — — 46,139 Issuing and Acquiring 187,091 — — 187,091 Total $ 274,144 $ 77,536 $ 311,825 $ 663,505 Six Months Ended June 30, 2021 Banks Merchants Billers Total Primary Solution Categories Bill Payments $ — $ — $ 300,793 $ 300,793 Digital Business Banking 30,792 — — 30,792 Merchant Payments — 76,094 — 76,094 Fraud Management 16,681 — — 16,681 Real-Time Payments 30,896 — — 30,896 Issuing and Acquiring 131,599 — — 131,599 Total $ 209,968 $ 76,094 $ 300,793 $ 586,855 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Banks Software as a service and platform as a service $ 13,985 $ 14,482 $ 27,937 $ 28,761 License 62,942 33,913 117,381 51,931 Maintenance 46,744 49,132 94,087 97,262 Services 18,275 16,524 34,739 32,014 Total $ 141,946 $ 114,051 $ 274,144 $ 209,968 Merchants Software as a service and platform as a service $ 31,058 $ 31,732 $ 61,825 $ 62,775 License 1,372 814 7,218 3,904 Maintenance 3,808 3,943 7,846 8,095 Services 296 935 647 1,320 Total $ 36,534 $ 37,424 $ 77,536 $ 76,094 Billers Software as a service and platform as a service $ 161,935 $ 150,114 $ 311,778 $ 300,538 License — — — 94 Maintenance 10 80 47 161 Services — — — — Total $ 161,945 $ 150,194 $ 311,825 $ 300,793
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 June 30, Six Months Ended June 30, 2022 2021 2022 2021 Revenue United States $ 209,459 $ 195,830 $ 408,774 $ 387,807 Other 130,966 105,839 254,731 199,048 Total $ 340,425 $ 301,669 $ 663,505 $ 586,855
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): June 30, 2022 December 31, 2021 Long-lived Assets United States $ 1,382,374 $ 1,425,391 Other 736,607 745,138 Total $ 2,118,981 $ 2,170,529

Condensed Consolidated Financ_4

Condensed Consolidated Financial Statements - Schedule of Error Corrections and Prior Period Adjustments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Other current and noncurrent assets and liabilities	$ (22,055)	$ (45,325)
Net cash flows from operating activities	67,763	104,985
Cash flows from financing activities:
Net decrease in settlement assets and liabilities	(4,575)	(78,081)
Net cash flows from financing activities	(60,313)	(181,343)
Net decrease in cash and cash equivalents	(8,007)	(100,473)
Cash and cash equivalents, including settlement deposits, beginning of period	184,142	265,382
Cash and cash equivalents, including settlement deposits, end of period	$ 176,135	164,909
As reported
Cash flows from operating activities:
Other current and noncurrent assets and liabilities		(42,094)
Net cash flows from operating activities		108,216
Cash flows from financing activities:
Net decrease in settlement assets and liabilities		0
Net cash flows from financing activities		(103,262)
Net decrease in cash and cash equivalents		(19,161)
Cash and cash equivalents, including settlement deposits, beginning of period		165,374
Cash and cash equivalents, including settlement deposits, end of period		146,213
Revision adjustment
Cash flows from operating activities:
Other current and noncurrent assets and liabilities		(3,231)
Net cash flows from operating activities		(3,231)
Cash flows from financing activities:
Net decrease in settlement assets and liabilities		(78,081)
Net cash flows from financing activities		(78,081)
Net decrease in cash and cash equivalents		(81,312)
Cash and cash equivalents, including settlement deposits, beginning of period		100,008
Cash and cash equivalents, including settlement deposits, end of period		$ 18,696

Condensed Consolidated Financ_5

Condensed Consolidated Financial Statements - Summary of Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Other Current Liabilities
Vendor financed licenses	$ 13,423	$ 12,521
Operating lease liabilities	11,738	11,518
Accrued interest	8,791	8,776
Royalties payable	3,409	4,102
Other	41,204	42,677
Total other current liabilities	$ 78,565	$ 79,594

Condensed Consolidated Financ_6

Condensed Consolidated Financial Statements - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended
	Jul. 31, 2019	Jun. 30, 2022	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
Amount of off balance sheet settlement funds		$ 227,200	$ 272,800
Goodwill		1,280,226	1,280,226
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%
Equity method investment, amount recorded		18,500	19,300
Banks
Condensed Financial Statements, Captions [Line Items]
Goodwill		725,900
Merchants
Condensed Financial Statements, Captions [Line Items]
Goodwill		137,300
Billers
Condensed Financial Statements, Captions [Line Items]
Goodwill		$ 417,000
Level 2 | Senior Notes | 5.750% Senior Notes due 2026
Condensed Financial Statements, Captions [Line Items]
Stated interest rate		5.75%
Fair value of long-term debt		$ 388,000	$ 419,000

Revenue - Summary of Total Rece

Revenue - Summary of Total Receivables, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Billed receivables	$ 166,163	$ 162,479
Allowance for doubtful accounts	(2,923)	(2,861)
Billed receivables, net	163,240	159,618
Current accrued receivables, net	163,612	160,787
Long-term accrued receivables, net	268,075	276,164
Total accrued receivables, net	431,687	436,951
Total receivables, net	$ 594,927	$ 596,569

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Deferred Revenue Arrangement [Line Items]
Revenue allocated to remaining performance obligations	$ 749.6
Significant Customer | Revenue Benchmark | Customer Concentration Risk
Deferred Revenue Arrangement [Line Items]
Customer concentration risk, percentage	12.40%	13.80%

Revenue - Summary of Changes in

Revenue - Summary of Changes in Deferred Revenue (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Deferred revenue, beginning balance	$ 110,350
Deferral of revenue	68,352
Recognition of deferred revenue	(62,717)
Foreign currency translation	(3,689)
Deferred revenue, ending balance	$ 112,296

Revenue - Additional Informatio

Revenue - Additional Information (Details)	Jun. 30, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Deferred Revenue Arrangement [Line Items]
Revenue percentage to be collected	46%
Timing of revenue to be collected	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Deferred Revenue Arrangement [Line Items]
Timing of revenue to be collected

Divestiture (Details)

Divestiture (Details) $ in Millions	Jun. 07, 2022 USD ($)
Discontinued Operations, Disposed of by Sale | One Equity Partners
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Divestiture consideration received	$ 100

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)		6 Months Ended	12 Months Ended
	Apr. 05, 2019	Jun. 30, 2022	Dec. 31, 2019	Dec. 31, 2021	Aug. 21, 2018
Debt Instrument [Line Items]
Long-term debt, amount outstanding		$ 1,096,941,000
Credit Agreement
Debt Instrument [Line Items]
Effective interest rate		3.37%
Credit Agreement | Federal Funds Effective Rate | Option (a)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.50%
Credit Agreement | SOFR | Option (a)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1%
Credit Agreement | SOFR | Option (b) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.25%
Credit Agreement | SOFR | 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%
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%
Stated interest rate					5.75%
Other | Multi-year License Agreement
Debt Instrument [Line Items]
Debt instrument, face amount		10,700,000
Other long-term debt, amount outstanding		9,500,000		$ 2,900,000
Other | Multi-year License Agreement | Other Current Liabilities
Debt Instrument [Line Items]
Other long-term debt, amount outstanding		5,900,000
Other | Multi-year License Agreement | Other Noncurrent Liabilities
Debt Instrument [Line Items]
Other long-term debt, amount outstanding		3,600,000
Revolving credit facility | Credit Agreement
Debt Instrument [Line Items]
Line of credit, carrying amount		40,000,000
Unused borrowings		458,500,000
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
Term loans | Credit Agreement
Debt Instrument [Line Items]
Long-term debt, amount outstanding		$ 656,900,000
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	Jun. 30, 2022 USD ($)
Debt Disclosure [Abstract]
Remainder of 2022	$ 29,212
2023	69,906
2024	597,823
2025	0
2026	400,000
Thereafter	0
Total	$ 1,096,941

Debt - Summary of Total Debt (D

Debt - Summary of Total Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Aug. 21, 2018
Debt Instrument [Line Items]
Total debt	$ 1,086,822	$ 1,065,742
Debt issuance costs	(10,119)	(12,418)
Less: current portion of term loans	55,688	45,870
Less: current portion of debt issuance costs	(4,481)	(4,561)
Total long-term debt	1,031,134	1,019,872
Senior Notes | 5.750% Senior notes, due August 2026
Debt Instrument [Line Items]
Total debt	400,000	400,000
Stated interest rate			5.75%
Term loans
Debt Instrument [Line Items]
Total debt	656,941	678,160
Less: current portion of term loans	60,169	50,431
Revolving credit facility | Line of Credit
Debt Instrument [Line Items]
Total debt	$ 40,000	$ 0

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	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Total	$ 261,782	$ 283,004
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	569,499	568,146
Accumulated Amortization	(422,366)	(410,364)
Total	147,133	157,782
Software for internal use
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	445,098	440,242
Accumulated Amortization	(297,965)	(283,109)
Total	147,133	157,133
Software for resale
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	124,401	127,904
Accumulated Amortization	(124,401)	(127,255)
Total	0	649
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	523,613	531,801
Accumulated Amortization	(261,831)	(248,797)
Total	261,782	283,004
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	500,290	507,962
Accumulated Amortization	(242,608)	(230,152)
Total	257,682	277,810
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	23,323	23,839
Accumulated Amortization	(19,223)	(18,645)
Total	$ 4,100	$ 5,194

Software and Other Intangible_4

Software and Other Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Other intangible assets amortization expense	$ 9,100,000	$ 9,200,000	$ 18,300,000	$ 18,500,000
Software for internal use
Finite-Lived Intangible Assets [Line Items]
Software, amortization expense	17,100,000	17,400,000	33,800,000	34,300,000
Software for resale
Finite-Lived Intangible Assets [Line Items]
Software, amortization expense	$ 0	$ 1,400,000	$ 700,000	$ 3,400,000
Minimum | Software for internal use
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life			3 years
Minimum | Software for resale
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life			5 years
Maximum | Software for internal use
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life			8 years
Maximum | Software for resale
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life			10 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	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Total	$ 261,782	$ 283,004
Software Amortization
Finite-Lived Intangible Assets [Line Items]
Remainder of 2022	33,222
2023	50,446
2024	33,058
2025	22,384
2026	7,966
Thereafter	57
Total	147,133
Other Intangible Assets Amortization
Finite-Lived Intangible Assets [Line Items]
Remainder of 2022	17,974
2023	35,767
2024	31,371
2025	22,983
2026	22,983
Thereafter	130,704
Total	$ 261,782

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)			0	0
Stock-based compensation expense	$ 6,800	$ 7,720	$ 14,758	$ 14,423
Stock-based compensation expense, tax benefits	$ 900	$ 1,200	2,100	2,200
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive plan, total intrinsic value of stock options exercised			$ 1,100	$ 7,600
Total Shareholder Return Awards (TSRs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested (in shares)			212,210
Payout rate	65%		65%
Vesting performance period			3 years
Shares withheld to pay employees' portion of minimum payroll withholding taxes (in shares)			47,612
Unrecognized compensation costs	$ 28,600		$ 28,600
Unrecognized compensation costs, weighted average recognition period			2 years 2 months 12 days
Restricted Share Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested (in shares)			440,275
Shares withheld to pay employees' portion of minimum payroll withholding taxes (in shares)			131,923
Unrecognized compensation costs	$ 31,300		$ 31,300
Unrecognized compensation costs, weighted average recognition period			2 years 2 months 12 days
2017 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued under ESPP (in shares)			70,242	55,486

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans - Summary of Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares
Number of Shares
Outstanding, beginning balance (in shares) | shares	1,640,319
Exercised (in shares) | shares	(77,403)
Outstanding, ending balance (in shares) | shares	1,562,916
Number of shares, exercisable, ending balance (in shares) | shares	1,562,916
Weighted Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 18.42
Exercised (in dollars per share) | $ / shares	18.04
Ending balance (in dollars per share) | $ / shares	18.44
Weighted average exercise price, exercisable, ending balance (in dollars per share) | $ / shares	$ 18.44
Weighted Average Remaining Contractual Term (Years)
Weighted average remaining contractual term, outstanding, end of period	2 years 7 months 2 days
Weighted average remaining contractual term, exercisable, end of period	2 years 7 months 2 days
Aggregate Intrinsic Value of In-the-Money Options
Aggregate intrinsic value of in-the-money options, outstanding, end of period | $	$ 11,639,158
Aggregate intrinsic value of in-the-money options, exercisable, end of period | $	$ 11,639,158

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans - Summary of Nonvested TSRs (Details) - Total Shareholder Return Awards (TSRs)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of Shares
Nonvested, beginning balance (in shares) | shares	1,154,721
Granted (in shares) | shares	520,020
Vested (in shares) | shares	(212,210)
Forfeited (in shares) | shares	(133,578)
Change in payout rate (in shares) | shares	(114,355)
Nonvested, ending balance (in shares) | shares	1,214,598
Weighted Average Grant Date Fair Value
Nonvested, beginning balance (in dollars per share) | $ / shares	$ 40.10
Granted (in dollars per share) | $ / shares	42.99
Vested (in dollars per share) | $ / shares	45.86
Forfeited (in dollars per share) | $ / shares	40.09
Change in payout rate (in dollars per share) | $ / shares	45.92
Nonvested, ending balance (in dollars per share) | $ / shares	$ 39.78

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	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	3 years 1 month 6 days	2 years 9 months 18 days
Risk-free interest rate	1.50%	0.30%
Expected volatility	40%	41.20%
Expected dividend yield	0%	0%

Stock-Based Compensation Plan_6

Stock-Based Compensation Plans - Summary of Nonvested RSUs (Details) - Restricted Share Units (RSUs)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of Shares
Nonvested, beginning balance (in shares) | shares	946,151
Granted (in shares) | shares	756,517
Vested (in shares) | shares	(440,275)
Forfeited (in shares) | shares	(123,690)
Nonvested, ending balance (in shares) | shares	1,138,703
Weighted Average Grant Date Fair Value
Nonvested, beginning balance (in dollars per share) | $ / shares	$ 33.57
Granted (in dollars per share) | $ / shares	31.69
Vested (in dollars per share) | $ / shares	33
Forfeited (in dollars per share) | $ / shares	32.76
Nonvested, ending balance (in dollars per share) | $ / shares	$ 32.62

Common Stock and Treasury Sto_2

Common Stock and Treasury Stock - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Equity [Abstract]
Amount approved for repurchase					$ 250,000,000
Shares repurchased (in shares)	924,240	1,000,000	2,055,488	1,000,000
Shares repurchased, value	$ 24,847,000	$ 39,411,000	$ 62,707,000	$ 39,411,000
Repurchase program, shares repurchased to date (in shares)	51,412,983		51,412,983
Repurchase program, amount paid for shares repurchased to date	$ 782,400,000		$ 782,400,000
Maximum remaining amount authorized for purchase	$ 153,600,000		$ 153,600,000

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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Weighted average shares outstanding:
Basic weighted average shares outstanding (in shares)	114,669	117,718	114,976	117,605
Add: Dilutive effect of stock options and RSUs (in shares)	536	1,292	673	1,353
Diluted weighted average shares outstanding (in shares)	115,205	119,010	115,649	118,958

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from earnings (loss) per share, options to purchase shares and RSUs (in shares)	2,200,000	1,300,000	2,000,000	1,400,000
Common stock outstanding (in shares)	114,295,153		114,295,153		115,730,046

Other, Net (Details)

Other, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Other Income and Expenses [Abstract]
Other, net	$ 2,006	$ 1,434	$ 4,256	$ 52

Segment Information - Selected

Segment Information - Selected Financial Data (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 340,425	$ 301,669	$ 663,505	$ 586,855
Depreciation and amortization	(32,240)	(33,403)	(63,729)	(66,986)
Stock-based compensation expense	(6,800)	(7,720)	(14,758)	(14,423)
Corporate and unallocated expenses	(42,736)	(45,562)	(81,407)	(87,527)
Interest, net	(8,733)	(8,395)	(16,468)	(17,016)
Other, net	2,006	1,434	4,256	52
Income before income taxes	17,730	8,463	39,911	2,150
Operating Segments | Banks
Segment Reporting Information [Line Items]
Revenues	141,946	114,051	274,144	209,968
Segment Adjusted EBITDA	70,160	54,465	134,874	91,660
Operating Segments | Merchants
Segment Reporting Information [Line Items]
Revenues	36,534	37,424	77,536	76,094
Segment Adjusted EBITDA	7,749	13,041	22,462	27,766
Operating Segments | Billers
Segment Reporting Information [Line Items]
Revenues	161,945	150,194	311,825	300,793
Segment Adjusted EBITDA	$ 28,324	$ 34,603	$ 54,681	$ 68,624

Segment Information - Selecte_2

Segment Information - Selected Financial Data, Revenues and Long lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 340,425	$ 301,669	$ 663,505	$ 586,855
Long-lived Assets
Long-lived assets	2,118,981		2,118,981		$ 2,170,529
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	209,459	195,830	408,774	387,807
Long-lived Assets
Long-lived assets	1,382,374		1,382,374		1,425,391
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	130,966	105,839	254,731	199,048
Long-lived Assets
Long-lived assets	736,607		736,607		$ 745,138
Bill Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	161,945	150,194	311,825	300,793
Digital Business Banking
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	12,097	15,700	25,585	30,792
Merchant Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	36,534	37,424	77,536	76,094
Fraud Management
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	7,552	10,457	15,329	16,681
Real-Time Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	24,212	17,711	46,139	30,896
Issuing and Acquiring
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	98,085	70,183	187,091	131,599
License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	64,314	34,727	124,599	55,929
Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	50,562	53,155	101,980	105,518
Operating Segments | Banks
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	141,946	114,051	274,144	209,968
Operating Segments | Banks | Bill Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments | Banks | Digital Business Banking
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	12,097	15,700	25,585	30,792
Operating Segments | Banks | Merchant Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments | Banks | Fraud Management
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	7,552	10,457	15,329	16,681
Operating Segments | Banks | Real-Time Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	24,212	17,711	46,139	30,896
Operating Segments | Banks | Issuing and Acquiring
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	98,085	70,183	187,091	131,599
Operating Segments | Banks | Software as a service and platform as a service
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	13,985	14,482	27,937	28,761
Operating Segments | Banks | License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	62,942	33,913	117,381	51,931
Operating Segments | Banks | Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	46,744	49,132	94,087	97,262
Operating Segments | Banks | Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	18,275	16,524	34,739	32,014
Operating Segments | Merchants
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	36,534	37,424	77,536	76,094
Operating Segments | Merchants | Bill Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments | Merchants | Digital Business Banking
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments | Merchants | Merchant Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	36,534	37,424	77,536	76,094
Operating Segments | Merchants | Fraud Management
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments | Merchants | Real-Time Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments | Merchants | Issuing and Acquiring
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments | Merchants | Software as a service and platform as a service
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	31,058	31,732	61,825	62,775
Operating Segments | Merchants | License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	1,372	814	7,218	3,904
Operating Segments | Merchants | Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	3,808	3,943	7,846	8,095
Operating Segments | Merchants | Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	296	935	647	1,320
Operating Segments | Billers
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	161,945	150,194	311,825	300,793
Operating Segments | Billers | Bill Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	161,945	150,194	311,825	300,793
Operating Segments | Billers | Digital Business Banking
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments | Billers | Merchant Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments | Billers | Fraud Management
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments | Billers | Real-Time Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments | Billers | Issuing and Acquiring
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments | Billers | Software as a service and platform as a service
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	161,935	150,114	311,778	300,538
Operating Segments | Billers | License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	94
Operating Segments | Billers | Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	10	80	47	161
Operating Segments | Billers | Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective tax rate, percentage	25%	23%	28%	(112.00%)
Profits (losses) of foreign entities	$ 27.4	$ 10.2	$ 58.3	$ 9.6
Unrecognized tax benefit for uncertain tax positions	24.1		24.1		$ 24.5
Liabilities for interest and penalties, excluded from unrecognized tax benefits for uncertain tax positions	1		1		$ 1.1
Decrease in unrecognized tax benefits due to the settlement of various audits and expiration of statutes of limitations	$ 6.1		$ 6.1

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($) lawsuit
Commitments and Contingencies Disclosure [Abstract]
Number of class action lawsuits filed | lawsuit	7
Litigation settlement, establishment of fund	$ 5
Litigation settlement, conditional additional funds	$ 1.5