| Year ended December 31, | ||||||||||||||||
| (millions of U.S. dollars) | 2023 | 2022 | Change | |||||||||||||
| Depreciation | 116 | 140 | (17%) | |||||||||||||
| Amortization of computer software | Internally developed | 440 | 446 | (1%) | ||||||||||||
| Acquisition related | 72 | 39 | 84% | |||||||||||||
| Total amortization of computer software | 512 | 485 | 6% | |||||||||||||
| Amortization of other identifiable intangible assets | 97 | 99 | (2%) | |||||||||||||
| Year ended December 31, | ||||||||||||
| (millions of U.S. dollars) | 2023 | 2022 | Change | |||||||||
| Net interest expense | 152 | 196 | (22%) | |||||||||
| Year ended December 31, | ||||||||
| (millions of U.S. dollars) | 2023 | 2022 | ||||||
| Tax expense | 417 | 259 | ||||||
| Year ended December 31, | ||||||||||||||||||||||||||||||||||||||
| Change | ||||||||||||||||||||||||||||||||||||||
| (millions of U.S. dollars, except margins) | 2023 | 2022 | Total | Constant Currency | Organic | |||||||||||||||||||||||||||||||||
| Recurring revenues | 2,674 | 2,631 | 2% | 2% | 6% | |||||||||||||||||||||||||||||||||
| Transactions revenues | 133 | 172 | (23%) | (23%) | 7% | |||||||||||||||||||||||||||||||||
| Revenues | 2,807 | 2,803 | - | - | 6% | |||||||||||||||||||||||||||||||||
| Segment adjusted EBITDA | 1,299 | 1,227 | 6% | 5% | Segment adjusted EBITDA margin | 46.2% | 43.8% | 240bp | 190bp | |||||||||||||||||||||||||||||
| Year ended December 31, | ||||||||||||
| (millions of U.S. dollars) | 2023 | 2022 | $ Change | |||||||||
| Net cash provided by operating activities | 2,341 | 1,915 | 426 | |||||||||
| Net cash provided by (used in) investing activities | 3,513 | (462) | 3,975 | |||||||||
| Net cash used in financing activities | (5,626) | (1,156) | (4,470) | |||||||||
| Translation adjustments | 1 | (6) | 7 | |||||||||
| Increase in cash and cash equivalents | 229 | 291 | (62) | |||||||||
| Cash and cash equivalents at beginning of period | 1,069 | 778 | 291 | |||||||||
| Cash and cash equivalents at end of period | 1,298 | 1,069 | 229 | |||||||||
| Non-IFRS Financial Measure (1): | Free cash flow | 1,871 | 1,340 | 531 | ||||||||
