0001213900-24-064727 | 10-Q | XBRL Viewer

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	6 Months Ended
Jun. 30, 2024
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	(2) RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In November 2023, the Financial Accounting Standards Board issued a new accounting pronouncement regarding segment reporting. The standard requires that public entities expand reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses. The Company is required to adopt the new standard for its 2024 annual reporting and effective January 1, 2025 for its interim reporting, using a retrospective approach. Management is currently evaluating the potential impact that the adoption of this standard will have on the Company’s disclosures. In December 2023, the Financial Accounting Standards Board issued a new accounting pronouncement regarding income tax disclosures. The standard requires that public entities disclose more consistent and detailed categories in their statutory-to-effective income tax rate reconciliations and further disaggregate income taxes paid by jurisdiction. The Company is required to adopt the new standard for its 2025 annual reporting, using a prospective approach. Management is currently evaluating the potential impact that the adoption of this standard will have on the Company’s disclosures.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

6 Months Ended

Jun. 30, 2024

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

(2) RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In November 2023, the Financial Accounting Standards Board issued a new accounting pronouncement regarding segment reporting. The standard requires that public entities expand reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses. The Company is required to adopt the new standard for its 2024 annual reporting and effective January 1, 2025 for its interim reporting, using a retrospective approach. Management is currently evaluating the potential impact that the adoption of this standard will have on the Company’s disclosures.

In December 2023, the Financial Accounting Standards Board issued a new accounting pronouncement regarding income tax disclosures. The standard requires that public entities disclose more consistent and detailed categories in their statutory-to-effective income tax rate reconciliations and further disaggregate income taxes paid by jurisdiction. The Company is required to adopt the new standard for its 2025 annual reporting, using a prospective approach. Management is currently evaluating the potential impact that the adoption of this standard will have on the Company’s disclosures.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

6 Months Ended

Jun. 30, 2024

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

(11) DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

The Company is exposed to foreign currency exchange risk resulting from (i) the collection of funds or the settlement of money transfer transactions in currencies other than the U.S. Dollar, (ii) derivative contracts written to its customers in connection with providing cross-currency money transfer services and (iii) certain foreign currency denominated other asset and liability positions. The Company enters into foreign currency derivative contracts, primarily foreign currency forwards and cross-currency swaps, to minimize its exposure related to fluctuations in foreign currency exchange rates. As a matter of Company policy, the derivative instruments used in these activities are economic hedges and are not designated as hedges under ASC 815, primarily due to either the relatively short duration of the contract term or the effects of fluctuations in currency exchange rates are reflected concurrently in earnings for both the derivative instrument and the transaction and have an offsetting effect.

Foreign currency exchange contracts - Ria Operations and Corporate

In the United States, the Company uses short-duration foreign currency forward contracts, generally with maturities up to 14 days, to offset the fluctuation in foreign currency exchange rates on the collection of money transfer funds between initiation of a transaction and its settlement. Due to the short duration of these contracts and the Company’s credit profile, the Company is generally not required to post collateral with respect to these foreign currency forward contracts. Most derivative contracts executed with counterparties in the U.S. are governed by an International Swaps and Derivatives Association agreement that includes standard netting arrangements; therefore, asset and liability positions from forward contracts and all other foreign exchange transactions with the same counterparty are net settled upon maturity. The Company had foreign currency forward contracts outstanding in the U.S. with a notional value of $509.7 million and $393.3 million as of June 30, 2024 and December 31, 2023, respectively. The foreign currency forward contracts consist primarily in Australian dollars, Canadian dollars, British pounds sterling, euros and Mexican pesos.

In addition, the Company uses forward contracts, typically with maturities from a few days to less than one year, to offset foreign exchange rate fluctuations on certain short-term borrowings that are payable in currencies other than the U.S dollar. The Company had foreign currency forward contracts outstanding with a notional value of $216.1 million and $563.1 million as of June 30, 2024 and December 31, 2023, respectively, primarily in euro.

Foreign currency exchange contracts - xe Operations

xe writes derivative instruments, primarily foreign currency forward contracts and cross-currency swaps, mostly with counterparties comprised of individuals and small-to-medium size businesses and derives a currency margin from this activity as part of its operations. xe aggregates its foreign currency exposures arising from customer contracts and hedges the resulting net currency risks by entering into offsetting contracts with established financial institution counterparties. Foreign exchange revenues from xe's total portfolio of positions were $22.4 million and $43.3 million for the three and six months ended June 30, 2024, respectively, and $21.5 million and $41.6 million for the three and six months ended June 30, 2023, respectively. All of the derivative contracts used in the Company's xe operations are economic hedges and are not designated as hedges under ASC 815. The duration of these derivative contracts is generally less than one year.

The fair value of xe's total portfolio of positions can change significantly from period to period based on, among other factors, market movements and changes in customer contract positions. xe manages counterparty credit risk (the risk that counterparties will default and not make payments according to the terms of the agreements) on an individual counterparty basis. It mitigates this risk by entering contracts with collateral posting requirements and/or by performing financial assessments prior to contract execution, conducting periodic evaluations of counterparty performance and maintaining a diverse portfolio of qualified counterparties. xe does not expect any significant losses from counterparty defaults.

The aggregate equivalent U.S. dollar notional amount of foreign currency derivative customer contracts held by the Company in its xe operations as of June 30, 2024 and December 31, 2023 was $1.5 billion and $1.1 billion, respectively. The significant majority of customer contracts are written in major currencies such as the euro, U.S. dollar, British pounds sterling, Australian dollar and New Zealand dollar.

Balance Sheet Presentation

The following table summarizes the fair value of the derivative instruments as recorded in the Consolidated Balance Sheets as of the dates below:

	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
(in millions)	Balance Sheet Location	June 30, 2024		December 31, 2023		Balance Sheet Location	June 30, 2024			December 31, 2023
Derivatives not designated as hedging instruments
Foreign currency exchange contracts	Other current assets	$	32.4	$	50.0	Other current liabilities	$	(28.4	)	$	(39.1	)

The following tables summarize the gross and net fair value of derivative assets and liabilities as of June 30, 2024 and December 31, 2023 (in millions):

Offsetting of Derivative Assets

As of June 30, 2024	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts Presented in the Consolidated Balance Sheet		Derivatives Not Offset in the Consolidated Balance Sheet			Net Amounts
Derivatives subject to a master netting arrangement or similar agreement	$	32.4	$	—	$	32.4	$	(14.6	)	$	17.8

As of December 31, 2023
Derivatives subject to a master netting arrangement or similar agreement	$	50.0	$	—	$	50.0	$	(19.9	)	$	30.1

Offsetting of Derivative Liabilities

As of June 30, 2024	Gross Amounts of Recognized Liabilities			Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts Presented in the Consolidated Balance Sheet			Derivatives Not Offset in the Consolidated Balance Sheet		Net Amounts
Derivatives subject to a master netting arrangement or similar agreement	$	(28.4	)	$	—	$	(28.4	)	$	18.4	$	(10.0	)

As of December 31, 2023
Derivatives subject to a master netting arrangement or similar agreement	$	(39.1	)	$	—	$	(39.1	)	$	26.3	$	(12.8	)

See Note 12, Fair Value Measurements, for the determination of the fair values of derivatives.

Income Statement Presentation

The following table summarizes the location and amount of losses on derivatives in the Consolidated Statements of Income for the three and six months ended June 30, 2024 and 2023:

		Loss Recognized in Income on Derivative Contracts (a)
	Location of Loss Recognized in Income on Derivative Contracts	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)		2024			2023			2024			2023
Foreign currency exchange contracts - Ria Operations	Foreign currency exchange loss, net	$	(1.0	)	$	(0.5	)	$	(2.7	)	$	(2.1	)

(a) The Company enters into derivative contracts such as foreign currency exchange forwards and cross-currency swaps as part of its xe operations. These derivative contracts are excluded from this table as they are part of the broader disclosure of foreign currency exchange revenues for this business discussed above.

See Note 12, Fair Value Measurements, for the determination of the fair values of derivatives.

SEGMENT INFORMATION (Details 2) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
SEGMENT INFORMATION (Details 2) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenues	$ 986.2	$ 939.1	$ 1,843.2	$ 1,726.3
Operating Segments [Member] \| Europe [Member]
Segment Reporting Information [Line Items]
Revenues	565.1	562.2	1,039.9	1,001.2
Operating Segments [Member] \| North America [Member]
Segment Reporting Information [Line Items]
Revenues	266.0	248.8	505.1	465.3
Operating Segments [Member] \| Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	123.4	107.2	235.4	184.7
Operating Segments [Member] \| Other [Member]
Segment Reporting Information [Line Items]
Revenues	33.6	22.8	66.6	78.8
Operating Segments [Member] \| EFT Processing Segment [Member]
Segment Reporting Information [Line Items]
Revenues	305.4	282.4	522.6	474.6
Operating Segments [Member] \| EFT Processing Segment [Member] \| Europe [Member]
Segment Reporting Information [Line Items]
Revenues	230.2	223.7	377.3	358.6
Operating Segments [Member] \| EFT Processing Segment [Member] \| North America [Member]
Segment Reporting Information [Line Items]
Revenues	18.3	17.3	36.1	35.3
Operating Segments [Member] \| EFT Processing Segment [Member] \| Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	53.0	40.3	102.2	76.0
Operating Segments [Member] \| EFT Processing Segment [Member] \| Other [Member]
Segment Reporting Information [Line Items]
Revenues	3.9	1.1	7.0	4.7
Operating Segments [Member] \| Epay Segment [Member]
Segment Reporting Information [Line Items]
Revenues	260.9	263.8	518.0	501.2
Operating Segments [Member] \| Epay Segment [Member] \| Europe [Member]
Segment Reporting Information [Line Items]
Revenues	161.5	172.4	328.1	327.3
Operating Segments [Member] \| Epay Segment [Member] \| North America [Member]
Segment Reporting Information [Line Items]
Revenues	48.6	44.6	92.9	80.4
Operating Segments [Member] \| Epay Segment [Member] \| Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	37.9	38.1	70.6	57.8
Operating Segments [Member] \| Epay Segment [Member] \| Other [Member]
Segment Reporting Information [Line Items]
Revenues	12.9	8.7	26.4	35.7
Operating Segments [Member] \| Money Transfer Segment [Member]
Segment Reporting Information [Line Items]
Revenues	421.8	394.8	806.4	754.2
Operating Segments [Member] \| Money Transfer Segment [Member] \| Europe [Member]
Segment Reporting Information [Line Items]
Revenues	173.4	166.1	334.5	315.3
Operating Segments [Member] \| Money Transfer Segment [Member] \| North America [Member]
Segment Reporting Information [Line Items]
Revenues	199.1	186.9	376.1	349.6
Operating Segments [Member] \| Money Transfer Segment [Member] \| Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	32.5	28.8	62.6	50.9
Operating Segments [Member] \| Money Transfer Segment [Member] \| Other [Member]
Segment Reporting Information [Line Items]
Revenues	16.8	13.0	33.2	38.4
Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	(1.9)	(1.9)	(3.8)	(3.7)
Eliminations [Member] \| EFT Processing Segment [Member]
Segment Reporting Information [Line Items]
Revenues
Eliminations [Member] \| Epay Segment [Member]
Segment Reporting Information [Line Items]
Revenues
Eliminations [Member] \| Money Transfer Segment [Member]
Segment Reporting Information [Line Items]
Revenues

GOODWILL AND ACQUIRED INTANGIBLE ASSETS, NET (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Acquired Intangible Assets
Acquired Intangible Assets, Balance	$ 167.6
Increases (decreases):
Acquisition	51.0
Amortization	(12.0)
Foreign currency exchange rate changes	5.9
Acquired Intangible Assets, Balance	200.7
Goodwill
Goodwill, Balance	847.5
Increases (decreases):
Acquisition	49.4
Amortization
Foreign currency exchange rate changes	19.4
Goodwill, Balance	877.5
Total Intangible Assets
Total Intangible Assets, Balance	1,015.1
Increases (decreases):
Acquisition	100.4
Amortization	(12.0)
Foreign currency exchange rate changes	25.3
Total Intangible Assets, Balance	$ 1,078.2

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,271.8	$ 1,254.2
ATM cash	795.6	525.2
Restricted cash	23.8	15.2
Settlement assets	1,478.3	1,681.5
Trade accounts receivable, net of credit losses of $3.7 and $3.6	428.1	370.6
Prepaid expenses and other current assets	268.9	316.0
Total current assets	4,266.5	4,162.7
Operating right of use lease assets	144.3	142.6
Property and equipment, net of accumulated depreciation of $671.2 and $656.9	331.1	332.1
Goodwill	877.5	847.5
Acquired intangible assets, net of accumulated amortization of $214.8 and $214.1	200.7	167.6
Other assets, net of accumulated amortization of $77.6 and $76.3	179.9	181.9
Convertible notes receivable	60.8	60.0
Total assets	6,060.8	5,894.4
Current liabilities:
Settlement obligations	1,478.3	1,681.5
Trade accounts payable	268.4	241.2
Accrued expenses and other current liabilities	403.0	439.0
Current portion of operating lease liabilities	50.9	50.3
Short-term debt obligations and current maturities of long-term debt obligations	1,233.8	150.3
Income taxes payable	80.9	81.6
Deferred revenue	56.3	56.7
Total current liabilities	3,571.6	2,700.6
Debt obligations, net of current portion	1,032.7	1,715.4
Operating lease obligations, net of current portion	97.2	95.8
Deferred income taxes	62.9	47.0
Other long-term liabilities	82.8	85.9
Total liabilities	4,847.2	4,644.7
Euronet Worldwide, Inc. stockholders’ equity:
Preferred Stock, $0.02 par value. 10,000,000 shares authorized; none issued
Common Stock, $0.02 par value. 90,000,000 shares authorized; shares issued 64,508,362 and 64,376,923	1.3	1.3
Additional paid-in-capital	1,336.9	1,311.6
Treasury stock, at cost, shares issued 19,601,012 and 18,598,961	(1,603.5)	(1,487.7)
Retained earnings	1,737.3	1,627.9
Accumulated other comprehensive loss	(258.3)	(203.2)
Total Euronet Worldwide, Inc. stockholders’ equity	1,213.7	1,249.9
Noncontrolling interests	(0.1)	(0.2)
Total equity	1,213.6	1,249.7
Total liabilities and equity	$ 6,060.8	$ 5,894.4

COMMITMENTS (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Other Commitments [Line Items]
Liabilities recorded	$ 0.0	$ 0.0
Credit Facility [Domain]
Other Commitments [Line Items]
Guarantor obligations, maximum exposure, undiscounted	78.8
Indemnification Agreement [Member]
Other Commitments [Line Items]
Letters of credit outstanding, amount	3.9
Guarantor obligations, maximum exposure, undiscounted	383.2
Guarantee Type, Other [Member]
Other Commitments [Line Items]
Guarantor obligations, maximum exposure, undiscounted	10.7
Performance Guarantee [Member]
Other Commitments [Line Items]
Guarantor obligations, maximum exposure, undiscounted	$ 59.3

SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2024

SEGMENT INFORMATION

SEGMENT INFORMATION

(13) SEGMENT INFORMATION

Our reportable operating segments have been determined in accordance with ASC Topic 280, Segment Reporting ("ASC 280"). The Company currently operates in the following three reportable operating segments:

1) Through the EFT Processing Segment, the Company processes transactions for a network of ATMs and POS terminals across Europe, the Middle East, Africa, Asia Pacific and North America. Euronet provides comprehensive electronic payment solutions consisting of ATM cash withdrawal and deposit services, ATM network participation, outsourced ATM and POS management solutions, credit, debit and prepaid card outsourcing, dynamic currency conversion, domestic and international surcharges and other value added services. Through this segment, the Company also offers a suite of integrated electronic financial transaction software solutions for electronic payment and transaction delivery systems.

2) Through the epay Segment, the Company provides distribution, processing and collection services for electronic payment products, and prepaid mobile airtime through a network of POS terminals in Europe, the Middle East, Asia Pacific, South America and North America. The epay Segment also provides vouchers and physical gift fulfillment services in Europe.

3) Through the Money Transfer Segment, the Company provides global consumer-to-consumer money transfer services, primarily under the brand names Ria, IME, AFEX, and xe, and global account-to-account money transfer services under the brand name xe. The Company offers services under the brand names Ria and IME through a network of sending agents, Company-owned stores, Company-owned websites, and mobile applications, disbursing money transfers through a worldwide correspondent network. xe is a provider of foreign currency exchange information and offers money transfer services on its currency data websites. The Company also offers customers bill payment services (primarily in the U.S.), payment alternatives such as money orders and prepaid debit cards, comprehensive check cashing services for a wide variety of issued checks, along with competitive foreign currency exchange services and prepaid mobile top-up. Furthermore, xe provides cash management solutions and foreign currency risk management services to small-to-medium sized businesses.

In addition, the Company accounts for non-operating activity, share-based compensation expense, certain intersegment eliminations and the costs of providing corporate and other administrative services in the administrative division, "Corporate Services, Eliminations and Other." These services are not directly identifiable with the Company’s reportable operating segments.

The following tables present the Company's reportable segment results for the three months and six months ended June 30, 2024 and 2023:

	For the Three Months Ended June 30, 2024
(in millions)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	305.4	$	260.9	$	421.8	$	(1.9	)	$	986.2
Operating expenses:
Direct operating costs, exclusive of depreciation	152.5		198.5		231.7		(1.9		)	580.8
Salaries and benefits	34.4		25.1		82.7		15.8			158.0
Selling, general and administrative	13.5		9.3		53.4		3.2			79.4
Depreciation and amortization	25.1		1.8		6.7		0.1			33.7
Total operating expenses	225.5		234.7		374.5		17.2			851.9
Operating income (loss)	$	79.9	$	26.2	$	47.3	$	(19.1	)	$	134.3

	For the Three Months Ended June 30, 2023
(in millions)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	282.4	$	263.8	$	394.8	$	(1.9	)	$	939.1
Operating expenses:
Direct operating costs, exclusive of depreciation	142.1		204.2		213.7		(1.9		)	558.1
Salaries and benefits	30.8		22.0		78.5		18.1			149.4
Selling, general and administrative	16.6		9.1		47.3		2.3			75.3
Depreciation and amortization	23.8		1.7		8.1		0.1			33.7
Total operating expenses	213.3		237.0		347.6		18.6			816.5
Operating income (loss)	$	69.1	$	26.8	$	47.2	$	(20.5	)	$	122.6

	For the Six Months Ended June 30, 2024
(in millions)		EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues		$	522.6	$	518.0	$	806.4	$	(3.8	)	$	1,843.2
Operating expenses:
Direct operating costs, exclusive of depreciation		283.6		393.6		441.1		(3.8		)	1,114.5
Salaries and benefits		66.2		49.2		163.4		33.9			312.7
Selling, general and administrative		22.7		18.9		103.4		6.3			151.3
Depreciation and amortization		48.7		3.5		14.0		0.2			66.4
Total operating expenses		421.2		465.2		721.9		36.6			1,644.9
Operating income (loss)		$	101.4	$	52.8	$	84.5	$	(40.4	)	$	198.3

	For the Six Months Ended June 30, 2023
(in millions)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	474.6	$	501.2	$	754.2	$	(3.7	)	$	1,726.3
Operating expenses:
Direct operating costs, exclusive of depreciation	261.1		382.3		410.0		(3.7		)	1,049.7
Salaries and benefits	58.3		43.4		152.8		36.8			291.3
Selling, general and administrative	32.7		17.9		95.0		4.9			150.5
Depreciation and amortization	46.5		3.3		16.6		0.2			66.6
Total operating expenses	398.6		446.9		674.4		38.2			1,558.1
Operating income (loss)	$	76.0	$	54.3	$	79.8	$	(41.9	)	$	168.2

The following table presents the Company's total assets by reportable segment:


	Total Assets as of
(in millions)	June 30, 2024		December 31, 2023
EFT Processing	$	2,951.2	$	2,442.0
epay	925.0		1,204.9
Money Transfer	1,847.7		1,921.1
Corporate Services, Eliminations and Other	336.9		326.4
Total	$	6,060.8	$	5,894.4

The following table presents the Company's revenues disaggregated by segment and region. Sales and usage-based taxes are excluded from revenues. The Company believes disaggregation by segment and region best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The disaggregation of revenues by segment and region is based on management's assessment of segment performance together with allocation of financial resources, both capital and operating support costs, on a segment and regional level. Both segments and regions benefit from synergies achieved through concentration of operations and are influenced by macro-economic, regulatory and political factors in the respective segment and region.

	Revenues for the Three Months Ended June 30, 2024									Revenues for the Six Months Ended June 30, 2024
(in millions)	EFT Processing		epay		Money Transfer		Total				EFT Processing		epay		Money Transfer		Total
Europe	$	230.2	$	161.5	$	173.4	$	565.1		$	377.3	$	328.1	$	334.5	$	1,039.9
North America	18.3		48.6		199.1		266.0				36.1		92.9		376.1		505.1
Asia Pacific	53.0		37.9		32.5		123.4				102.2		70.6		62.6		235.4
Other	3.9		12.9		16.8		33.6				7.0		26.4		33.2		66.6
Eliminations	—		—		—		(1.9		)		—		—		—		(3.8	)
Total	$	305.4	$	260.9	$	421.8	$	986.2		$	522.6	$	518.0	$	806.4	$	1,843.2

	Revenues for the Three Months Ended June 30, 2023									Revenues for the Six Months Ended June 30, 2023
(in millions)	EFT Processing		epay		Money Transfer		Total				EFT Processing		epay		Money Transfer		Total
Europe	$	223.7	$	172.4	$	166.1	$	562.2		$	358.6	$	327.3	$	315.3	$	1,001.2
North America	17.3		44.6		186.9		248.8				35.3		80.4		349.6		465.3
Asia Pacific	40.3		38.1		28.8		107.2				76.0		57.8		50.9		184.7
Other	1.1		8.7		13.0		22.8				4.7		35.7		38.4		78.8
Eliminations	—		—		—		(1.9		)		—		—		—		(3.7	)
Total	$	282.4	$	263.8	$	394.8	$	939.1		$	474.6	$	501.2	$	754.2	$	1,726.3

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

ACQUISITIONS

6 Months Ended

Jun. 30, 2024

ACQUISITIONS

ACQUISITIONS

(3) ACQUISITIONS

Acquisitions 2024

On February 1, 2024, Euronet acquired Infinitium Group, a leading regional solutions provider with Payments Authentication services, for a purchase consideration of $70.0 million cash and $5.0 million of the Company’s common stock to be paid over two installments on February 1, 2026 and 2027. The Company preliminarily allocated $51.0 million of the purchase consideration to customer relationships, $5.6 million to acquired net assets, and the remaining $18.4 million to goodwill. During the second quarter 2024 we subsequently allocated $10.2 to goodwill due to a deferred tax liability position. For the quarter ended June 30, 2024, the Company made measurement period adjustment to reflect facts and circumstances in existence as of the effective time of the acquisition. This adjustment primarily included an adjustment to deferred tax liabilities and goodwill of $10.2 million.

In the second quarter of 2024, Euronet acquired a business for an immaterial amount.

COMMITMENTS

6 Months Ended

Jun. 30, 2024

COMMITMENTS

COMMITMENTS

(15) COMMITMENTS

As of June 30, 2024, the Company had $78.8 million of stand-by letters of credit/bank guarantees issued on the Company's behalf, of which $3.9 million are collateralized by cash deposits held by the respective issuing banks.

Under certain circumstances, the Company grants guarantees in support of obligations of subsidiaries. As of June 30, 2024, the Company had granted off balance sheet guarantees for cash in various ATM networks amounting to $10.7 million over the terms of the cash supply agreements and performance guarantees amounting to approximately $59.3 million over the terms of agreements with the Company's customers.

From time to time, the Company enters into agreements with commercial counterparties that contain indemnification provisions, the terms of which may vary depending on the negotiated terms of each respective agreement. The amount of such potential obligations is generally not stated in the agreements. The Company's liability under such indemnification provisions may be mitigated by relevant insurance coverage and may be subject to time and materiality limitations, monetary caps and other conditions and defenses. Such indemnification obligations include the following:

In connection with contracts with financial institutions in the EFT Processing Segment, the Company is responsible for damage to ATMs and theft of ATM network cash. As of June 30, 2024, the balance of such cash used in the Company's ATM networks for which the Company was responsible was approximately $383.2 million. The Company maintains insurance policies to mitigate this exposure;
In connection with contracts with financial institutions in the EFT Processing Segment, the Company is responsible for losses suffered by the Company's customers and other parties as a result of the breach of the Company's computer systems, including in particular, losses arising from fraudulent transactions made using information stolen through the Company's processing systems. The Company maintains insurance policies to mitigate this exposure;
In connection with the license of proprietary systems to customers, the Company provides certain warranties and infringement indemnities to the licensee, which generally warrant that such systems do not infringe on intellectual property owned by third parties and that the systems will perform in accordance with their specifications;
The Company has entered into purchase and service agreements with vendors and consulting agreements with providers of consulting services, pursuant to which the Company has agreed to indemnify certain of such vendors and consultants, respectively, against third-party claims arising from the Company's use of the vendor’s product or the services of the vendor or consultant;
In connection with acquisitions and dispositions of subsidiaries, operating units and business assets, the Company has entered into agreements containing indemnification provisions, which can be generally described as follows: (i) in connection with acquisitions of operating units or assets made by the Company, the Company has agreed to indemnify the seller against third party claims made against the seller relating to the operating unit or asset and arising after the closing of the transaction, and (ii) in connection with dispositions made by the Company, the Company has agreed to indemnify the buyer against damages incurred by the buyer due to the buyer’s reliance on representations and warranties relating to the subject subsidiary, operating unit or business assets in the disposition agreement if such representations or warranties were untrue when made; and
The Company has entered into agreements with certain third parties, including banks that provide fiduciary and other services to the Company or the Company's benefit plans. Under such agreements, the Company has agreed to indemnify such service providers for third-party claims relating to carrying out their respective duties under such agreements.

The Company is also required to meet minimum capitalization and cash requirements of various regulatory authorities in the jurisdictions in which the Company has operations. The Company has obtained surety bonds in compliance with money transfer licensing requirements of the applicable governmental authorities.

To date, the Company is not aware of any significant claims made by the indemnified parties or third parties to guarantee agreements with the Company and, accordingly, no liabilities were recorded as of June 30, 2024 or December 31, 2023.

LEASES (Details 3) - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

LEASES

Cash paid for amounts included in the measurement of lease liabilities

^[1]

$ 25.5

$ 25.1

Supplemental non-cash information on lease liabilities arising from obtaining ROU assets:

ROU assets obtained in exchange for new operating lease liabilities

$ 39.2

$ 48.0

[1]	Included in Net cash provided by operating activities on the Company's Consolidated Statements of Cash Flows.

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Cash Flows [Abstract]
Net income	$ 109.4	$ 105.8
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	66.4	66.6
Share-based compensation	22.7	26.8
Unrealized foreign exchange loss, net	11.0	(5.2)
Deferred income taxes	6.9	(2.3)
Amortization of debt issuance costs	2.0	2.0
Changes in working capital, net of amounts acquired:
Income taxes payable, net	0.5	13.6
Trade accounts receivable, including amounts in settlement assets	56.7	367.3
Prepaid expenses and other current assets, including amounts in settlement assets	112.8	17.2
Trade accounts payable, including amounts in settlement obligations	(121.9)	(298.5)
Deferred revenue	(0.1)	(6.4)
Accrued expenses and other current liabilities, including amounts in settlement obligations	(55.3)	(58.4)
Changes in noncurrent assets and liabilities	1.1	(8.3)
Net cash provided by operating activities	212.2	220.2
Cash flows from investing activities:
Acquisitions, net of cash acquired	(90.8)	0.2
Purchases and proceeds of property and equipment	(57.2)	(41.9)
Purchases of other long-term assets	(6.6)	(3.9)
Other, net	(0.6)	0.1
Net cash used in investing activities	(155.2)	(45.5)
Cash flows from financing activities:
Proceeds from issuance of shares	3.3	2.4
Repurchase of shares and other share movements	(116.3)	(29.3)
Borrowings from credit agreements	3,990.8	3,403.1
Repayments of credit agreements	(4,131.1)	(3,720.3)
Net borrowings of short-term debt obligations	558.7
Repayments of capital lease obligations	(1.0)	(1.6)
Other, net		0.1
Net cash used in financing activities	304.4	104.4
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(53.2)	(77.4)
Decrease in cash and cash equivalents and restricted cash	308.2	201.7
Cash and cash equivalents and restricted cash at beginning of period	2,247.0	1,990.9
Cash and cash equivalents and restricted cash at end of period	2,555.2	2,192.6
Supplemental disclosure of cash flow information:
Interest paid during the period	29.5	29.7
Income taxes paid during the period	$ 52.1	$ 36.0

FAIR VALUE MEASUREMENTS (Details) - Fair Value, Recurring [Member] - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	$ 32.4	$ 50.0
Foreign Currency Contracts, Liability, Fair Value Disclosure	(28.4)	(39.1)
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure
Foreign Currency Contracts, Liability, Fair Value Disclosure
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	32.4	50.0
Foreign Currency Contracts, Liability, Fair Value Disclosure	(28.4)	(39.1)
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure
Foreign Currency Contracts, Liability, Fair Value Disclosure

STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2024

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

(5) STOCKHOLDERS' EQUITY

Earnings Per Share

Basic earnings per share has been computed by dividing earnings available to common stockholders by the weighted average number of common shares outstanding during the respective period. Diluted earnings per share has been computed by dividing earnings available to common stockholders by the weighted average shares outstanding during the respective period, after adjusting for the potential dilution of options to purchase the Company’s common stock, assumed vesting of restricted stock units and the assumed conversion of the Company’s convertible debt, if such conversion would be dilutive.

The following table provides the computation of diluted earnings and diluted weighted average number of common shares outstanding:

(in millions)		Three Months Ended June 30,				Six Months Ended June 30,
		2024		2023		2024		2023
Computation of diluted earnings:
Net income	$	83.1	$	86.1	$	109.3	$	106.2
Add: Interest expense from assumed conversion of convertible notes, net of tax		1.0		1.1		2.0		2.0
Net income for diluted earnings per share calculation	$	84.1	$	87.2	$	111.3	$	108.2

Computation of diluted weighted average shares outstanding:
Basic weighted average shares outstanding		45,429,998		49,637,589		45,623,470		49,724,478
Incremental shares from assumed exercise of stock options and vesting of restricted stock units		488,454		452,008		423,354		412,223
Incremental shares from assumed conversion of convertible debt		2,781,818		2,781,818		2,781,818		2,781,818
Diluted weighted average shares outstanding		48,700,270		52,871,415		48,828,642		52,918,519

The table includes all stock options and restricted stock units that are dilutive to the Company's weighted average common shares outstanding during the period. The calculation of diluted earnings per share excludes stock options or shares of restricted stock units that are anti-dilutive to the Company's weighted average common shares outstanding of approximately 3.1 million and 3.2 million for the three and six months ended June 30, 2024 and 2.6 million and 2.6 million for the three and six months ended June 30, 2023, respectively.

The Company issued Convertible Senior Notes ("Convertible Notes") due March 2049 on March 18, 2019. The Convertible Notes currently have a settlement feature requiring us upon conversion to settle the principal amount of the debt and any conversion value in excess of the principal value ("conversion premium"), for cash or shares of Euronet's common stock or a combination thereof, at the Company's option. The Company has stated its intent to settle any conversion of these notes by paying cash for the principal value and issuing common stock for any conversion premium; however, after adopting ASU 2020-06, 2.8 million incremental shares assumed for conversion of convertible notes is required to be included in the dilutive earnings per share calculation, if dilutive, regardless of whether the market price trigger has been met. Therefore, the Convertible Notes were included in the calculation of diluted earnings per share if their inclusion was dilutive. The dilutive effect increases the more the market price for the Company's common stock exceeds the conversion price of $188.73 per share. See Note 10, Debt Obligations, to the consolidated financial statements for more information about the Convertible Notes.

Share repurchases

On September 13, 2022, the Company put a repurchase program in place to repurchase up to $350 million in value, but not more than 7.0 million shares of common stock through September 13, 2024. As of June 30, 2024, no shares were available to be repurchased under this repurchase program. On September 13, 2023, the Company put a repurchase program in place to repurchase up to $350 million in value, but not more than 7.0 million shares of common stock through September 13, 2025. As of June 30, 2024, 6.9 million shares were available to be repurchased under this repurchase program. Repurchases under the programs may take place in the open market or in privately negotiated transactions, including derivative transactions, and may be made under a Rule 10b5-1 plan.

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consists entirely of foreign currency translation adjustments. The Company recorded foreign currency translation adjustments of ($10.0) million and ($55.0) million for the three and six months ended June 30, 2024 and $10.0 million and $30.8 million for the three and six months ended June 30, 2023, respectively. There were no reclassifications of foreign currency translation adjustments into the consolidated statements of income for the three and six months ended June 30, 2024 and 2023.

- Definition

The entire disclosure for equity.

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+ Details

INCOME TAXES (Details)	3 Months Ended		6 Months Ended
INCOME TAXES (Details)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
INCOME TAXES
Effective income tax rate	32.00%	27.30%	33.50%	31.90%
Federal statutory income tax rate	21.00%	21.00%	21.00%	21.00%
Pillar 2 global minimum tax rate			15.00%

DEBT OBLIGATIONS (Details 3 - Textual) $ / shares in Units, € in Millions, $ in Millions		3 Months Ended		6 Months Ended
	Mar. 18, 2019 USD ($) $ / shares	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 EUR (€)	Dec. 31, 2023 USD ($)	May 22, 2019 USD ($)	May 22, 2019 EUR (€)
Debt Instrument [Line Items]
Debt Instrument, Convertible, Conversion Price \| $ / shares	$ 188.73
Other short-term borrowings		$ 8.9		$ 8.9			$ 0.3
Credit Facility, Unamortized debt issuance costs		2.7		$ 2.7
Convertible Notes, 0.75 Percent, due 2049 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 525.0
Debt Instrument, Convertible, Conversion Price \| $ / shares	$ 188.73
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed	100.00%
Debt issuance costs	$ 12.8
Debt instrument, redemption, description				(i) if the closing sale price of the Company's Common Stock has been at least 130 % of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption and (ii) on or after March 20, 2025 and prior to the maturity date, regardless of the foregoing sale price condition, in each case at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the Convertible Notes. In addition, if a fundamental change, as defined in the Indenture, occurs prior to the maturity date, holders may require the Company to repurchase for cash all or part of their Convertible Notes at a repurchase price equal to 100% of the principal amount of the Convertible Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date.
Debt Instrument, Contractual interest expense		$ 1.0	$ 1.1	$ 2.0	$ 2.0
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		0.75%		0.75%		0.75%
Debt Instrument, Unamortized debt issuance costs		$ 1.6		$ 1.6
Senior Notes, 1.375 Percent, due 2026 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount								$ 669.9	€ 600.0
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate		1.375%		1.375%		1.375%
Debt Instrument, Frequency of Periodic Payment				annually
Debt Instrument, Date of First Required Payment				May 22, 2020
Senior notes		$ 642.6		$ 642.6		€ 600.0	$ 662.2
Debt Instrument, Redemption Period, Start Date				Feb. 22, 2026
Debt Instrument, Unamortized debt issuance costs		$ 2.3		$ 2.3

LITIGATION AND CONTINGENCIES (Details) $ in Millions	Jul. 31, 2024 USD ($)
Subsequent Event [Member] \| Unfavorable Regulatory Action [Member]
Loss Contingencies [Line Items]
Principal amount of agent-based withholding tax	$ 16.5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

CONVERTIBLE NOTES RECEIVABLE

6 Months Ended

Jun. 30, 2024

CONVERTIBLE NOTES RECEIVABLE

CONVERTIBLE NOTES RECEIVABLE

(7) CONVERTIBLE NOTES RECEIVABLE

The Company loaned a total of $60.0 million to Koin Mobile, LLC and Marker Trax, LLC under two promissory notes (the "Notes"), which were fully executed on October 19, 2023. Under the terms of the Notes, interest will accrue on the Notes at 2% per annum and all unpaid principal and interest will be due and payable on October 18, 2028 if not converted earlier as discussed below. The Company has a security interest in all of the assets of Koin Mobile, LLC and Marker Trax, LLC. The outstanding principal and accrued interest were $60.0 million and $0.8 million at June 30, 2024, respectively.

The Notes are convertible into preferred equity of Koin Mobile, LLC and Marker Trax, LLC at the option of the Company upon the occurrence of certain events including a qualified equity financing, change in control, achievement of profitability or at the option of the Company at maturity, as defined in the Notes.

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Aug. 01, 2024
Document Information [Line Items]
Entity Registrant Name	EURONET WORLDWIDE, INC.
Entity File Number	001-31648
Entity Small Business	false
City Area Code	(913)
Local Phone Number	327-4200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Entity Central Index Key	0001029199
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		44,914,254
Entity Tax Identification Number	74-2806888
Entity Address, City or Town	Leawood,
Entity Address, Address Line One	11400 Tomahawk Creek Parkway,
Entity Address, Address Line Two	Suite 300
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	66211
Entity Emerging Growth Company	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	EEFT
Security Exchange Name	NASDAQ
1.375 Senior Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	1.375% Senior Notes due 2026
Trading Symbol	EEFT26
Security Exchange Name	NASDAQ

DEBT OBLIGATIONS (Details) € in Millions, $ in Millions	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Revolving credit agreement	$ 396.6		$ 536.9
Uncommitted credit agreements	700.0		150.0
Other obligations	8.9		0.3
Total debt obligations	2,273.1		1,874.4
Unamortized debt issuance costs	(6.6)		(8.7)
Carrying value of debt	2,266.5		1,865.7
Short-term debt obligations and current maturities of long-term debt obligations	(1,233.8)		(150.3)
Long-term debt obligations	1,032.7		1,715.4
Convertible Notes, 0.75 Percent, due 2049 [Member]
Debt Instrument [Line Items]
Convertible Debt	525.0		525.0
Senior Notes, 1.375 Percent, due 2026 [Member]
Debt Instrument [Line Items]
Senior notes	$ 642.6	€ 600.0	$ 662.2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 2) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Ria Operations [Member] | Foreign Exchange Contract [Member]

Derivative Instruments, Loss [Line Items]

Loss Recognized in Income on Derivative Contracts

^[1]

$ (1.0)

$ (0.5)

$ (2.7)

$ (2.1)

[1]

The Company enters into derivative contracts such as foreign currency exchange forwards and cross-currency swaps as part of its xe operations. These derivative contracts are excluded from this table as they are part of the broader disclosure of foreign currency exchange revenues for this business discussed above.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 83.2	$ 86.0	$ 109.4	$ 105.8
Translation adjustment	(10.0)	10.0	(55.0)	30.8
Comprehensive income	73.2	96.0	54.4	136.6
Comprehensive (income) loss attributable to noncontrolling interests	0.1	(0.1)	0.1	(0.3)
Comprehensive income attributable to Euronet Worldwide, Inc.	$ 73.3	$ 95.9	$ 54.5	$ 136.3

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

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+ Details

LEASES (Details 2)	Jun. 30, 2024
LEASES
Weighted- average remaining lease term (years)	4 years 3 months 18 days
Weighted- average discount rate	2.90%

SETTLEMENT ASSETS AND OBLIGATIONS (Tables)

6 Months Ended

Jun. 30, 2024

SETTLEMENT ASSETS AND OBLIGATIONS

Schedule of settlement assets and liabilities

	As of
(in millions)	June 30, 2024		December 31, 2023
Settlement assets:
Settlement cash and cash equivalents	$	342.7	$	327.4
Settlement restricted cash	121.3		125.0
Accounts receivable, net of credit losses of $30.4 and $35.7	860.5		1,002.1
Prepaid expenses and other current assets	153.8		227.0
Total settlement assets	$	1,478.3	$	1,681.5
Settlement obligations:
Trade account payables	$	537.7	$	708.6
Accrued expenses and other current liabilities	940.6		972.9
Total settlement obligations	$	1,478.3	$	1,681.5

Schedule of cash and cash equivalents and restricted cash

	As of
(in millions)	June 30, 2024		December 31, 2023		June 30, 2023		December 31, 2022
Cash and cash equivalents	$	1,271.8	$	1,254.2	$	1,137.5	$	1,131.2
Restricted cash	23.8		15.2		14.4		7.4
ATM cash	795.6		525.2		776.3		515.6
Settlement cash and cash equivalents	342.7		327.4		187.0		242.7
Settlement restricted cash	121.3		125.0		77.4		94.0
Cash and cash equivalents and restricted cash at end of period	$	2,555.2	$	2,247.0	$	2,192.6	$	1,990.9

FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2024

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

(12) FAIR VALUE MEASUREMENTS

Fair value measurements used in the unaudited consolidated financial statements are based upon the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities.
Level 2 – Valuations based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.
Level 3 – Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the inputs that market participants would use in pricing.

The following table details financial assets and liabilities measured and recorded at fair value on a recurring basis:

		As of June 30, 2024
(in millions)	Balance Sheet Classification	Level 1		Level 2			Level 3		Total
Assets
Foreign currency exchange contracts	Other current assets	$	—	$	32.4		$	—	$	32.4
Liabilities
Foreign currency exchange contracts	Other current liabilities	$	—	$	(28.4	)	$	—	$	(28.4	)

		As of December 31, 2023
(in millions)	Balance Sheet Classification	Level 1		Level 2			Level 3		Total
Assets
Foreign currency exchange contracts	Other current assets	$	—	$	50.0		$	—	$	50.0
Liabilities
Foreign currency exchange contracts	Other current liabilities	$	—	$	(39.1	)	$	—	$	(39.1	)

Other Fair Value Disclosures

The carrying amounts of cash and cash equivalents, trade accounts receivable, trade accounts payable and short-term debt obligations approximate fair values due to their short maturities. The carrying values of the Company’s revolving credit agreements approximate fair values because interest as of June 30, 2024 was based on the Secured Overnight Financing Rate ("SOFR") that resets at various intervals of less than one year. The Company estimates the fair value of the Convertible Notes and Senior Notes using quoted prices in inactive markets for identical liabilities (Level 2). As of June 30, 2024, the fair values of the Convertible Notes and Senior Notes were $510.7 million and $612.0 million, respectively, with carrying values of $525.0 million and $642.6 million, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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+ Details

DEBT OBLIGATIONS (Tables)

6 Months Ended

Jun. 30, 2024

DEBT OBLIGATIONS

Schedule of debt obligations

	As of
(in millions)	June 30, 2024			December 31, 2023
Credit Facility:
Revolving credit agreement	$	396.6		$	536.9
Notes:
0.75% Convertible Notes, unsecured, due 2049	525.0			525.0

1.375% Senior Notes, due 2026	642.6			662.2

Uncommitted credit agreements	700.0			150.0

Other obligations	8.9			0.3

Total debt obligations	2,273.1			1,874.4
Unamortized debt issuance costs	(6.6		)	(8.7		)
Carrying value of debt	2,266.5			1,865.7
Short-term debt obligations and current maturities of long-term debt obligations	(1,233.8		)	(150.3		)
Long-term debt obligations	$	1,032.7		$	1,715.4

STOCKHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2024

STOCKHOLDERS' EQUITY

Schedule of computation of diluted weighted average number of common shares outstanding

(in millions)		Three Months Ended June 30,				Six Months Ended June 30,
		2024		2023		2024		2023
Computation of diluted earnings:
Net income	$	83.1	$	86.1	$	109.3	$	106.2
Add: Interest expense from assumed conversion of convertible notes, net of tax		1.0		1.1		2.0		2.0
Net income for diluted earnings per share calculation	$	84.1	$	87.2	$	111.3	$	108.2

Computation of diluted weighted average shares outstanding:
Basic weighted average shares outstanding		45,429,998		49,637,589		45,623,470		49,724,478
Incremental shares from assumed exercise of stock options and vesting of restricted stock units		488,454		452,008		423,354		412,223
Incremental shares from assumed conversion of convertible debt		2,781,818		2,781,818		2,781,818		2,781,818
Diluted weighted average shares outstanding		48,700,270		52,871,415		48,828,642		52,918,519

SETTLEMENT ASSETS AND OBLIGATIONS (Details 1) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
SETTLEMENT ASSETS AND OBLIGATIONS
Cash and cash equivalents	$ 1,271.8	$ 1,254.2	$ 1,137.5	$ 1,131.2
Restricted cash	23.8	15.2	14.4	7.4
ATM cash	795.6	525.2	776.3	515.6
Settlement cash and cash equivalents	342.7	327.4	187.0	242.7
Settlement restricted cash	121.3	125.0	77.4	94.0
Cash and cash equivalents and restricted cash at end of period	$ 2,555.2	$ 2,247.0	$ 2,192.6	$ 1,990.9

STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Computation of diluted earnings:
Net income	$ 83.1	$ 86.1	$ 109.3	$ 106.2
Add: Interest expense from assumed conversion of convertible notes, net of tax	1.0	1.1	2.0	2.0
Net income for diluted earnings per share calculation	$ 84.1	$ 87.2	$ 111.3	$ 108.2
Computation of diluted weighted average shares outstanding:
Basic weighted average shares outstanding	45,429,998	49,637,589	45,623,470	49,724,478
Incremental shares from assumed exercise of stock options and vesting of restricted stock units	488,454	452,008	423,354	412,223
Incremental shares from assumed conversion of convertible debt	2,781,818	2,781,818	2,781,818	2,781,818
Diluted weighted average shares outstanding	48,700,270	52,871,415	48,828,642	52,918,519

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2024

FAIR VALUE MEASUREMENTS

Schedule of financial assets and liabilities measured and recorded at fair value on a recurring basis

The following table details financial assets and liabilities measured and recorded at fair value on a recurring basis:

		As of June 30, 2024
(in millions)	Balance Sheet Classification	Level 1		Level 2			Level 3		Total
Assets
Foreign currency exchange contracts	Other current assets	$	—	$	32.4		$	—	$	32.4
Liabilities
Foreign currency exchange contracts	Other current liabilities	$	—	$	(28.4	)	$	—	$	(28.4	)

		As of December 31, 2023
(in millions)	Balance Sheet Classification	Level 1		Level 2			Level 3		Total
Assets
Foreign currency exchange contracts	Other current assets	$	—	$	50.0		$	—	$	50.0
Liabilities
Foreign currency exchange contracts	Other current liabilities	$	—	$	(39.1	)	$	—	$	(39.1	)

DEFERRED REVENUES

6 Months Ended

Jun. 30, 2024

DEFERRED REVENUES

DEFERRED REVENUES

(9) DEFERRED REVENUES

The Company records deferred revenues when cash payments are received or due in advance of the Company's performance. The decrease in the deferred revenue balance for the six months ended June 30, 2024 is the result of $24.1 million of revenues recognized, offset by $23.7 million of cash payments received in the current year for which the Company has not yet satisfied the performance obligations.

FAIR VALUE MEASUREMENTS (Details Textual) - Fair Value, Inputs, Level 2 [Member] $ in Millions	Jun. 30, 2024 USD ($)
Convertible Notes Payable [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible Debt, Fair Value Disclosures	$ 510.7
Convertible Debt	525.0
Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible Debt, Fair Value Disclosures	612.0
Senior notes	$ 642.6

LITIGATION AND CONTINGENCIES	6 Months Ended
LITIGATION AND CONTINGENCIES	Jun. 30, 2024
LITIGATION AND CONTINGENCIES
LITIGATION AND CONTINGENCIES	(16) LITIGATION AND CONTINGENCIES From time to time, the Company is a party to legal or regulatory proceedings arising in the ordinary course of the Company's business. In accordance with U.S. GAAP, the Company records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Currently, there are no legal proceedings or regulatory findings which are both probable that a liability has been incurred and can be reasonably estimated that management believes, either individually or in the aggregate, would have a material adverse effect on the Company's consolidated financial condition or results of operations. These provisions are reviewed at least quarterly and adjusted to reflect the impacts of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case. During July 2024, the Company received an adverse judicial decision related to withholding taxes on certain agency relationships in Italy within the Money Transfer Segment, which the Company plans to appeal. The Company completed an assessment and concluded that it is reasonably possible that a liability has been incurred, but not probable. The principal amount of the agent-based withholding tax could be approximately $16.5 million for all open periods.

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Accrued expenses	$ 297.9	$ 254.8
Derivative liabilities	28.4	39.1
Other tax payables	19.6	69.1
Accrued payroll expenses	55.5	74.4
Current portion of capital lease obligations	1.6	1.6
Total	$ 403.0	$ 439.0

LEASES

6 Months Ended

Jun. 30, 2024

LEASES

LEASES

(17) LEASES

The Company enters into operating leases for ATM sites, office spaces, retail stores and equipment. The Company's finance leases are immaterial. Right of use assets (ROU) and lease liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease terms.

The present value of lease payments is determined using the incremental borrowing rate based on information available at the lease commencement date. The Company recognizes lease expense for these leases on a straight-line basis over the lease term.

Most leases include an option to renew, with renewal terms that can extend the lease terms. The exercise of lease renewal options is at the Company's sole discretion. The depreciable life of assets and leasehold improvements are limited by the expected lease terms. The Company also has a unilateral termination right for most of the ATM site leases. Since the Company is not reasonably certain not to exercise termination options, payments for ATM site leases with termination options subject to the short-term lease exemption are expensed in the period incurred and corresponding leases are excluded from the right of use lease asset and lease liability balances. Certain of the Company's lease agreements include variable rental payments based on revenues generated from the use of the leased location and certain leases include rental payments adjusted periodically for inflation. Variable lease payments are recognized when the event, activity or circumstance in the lease agreement on which those payments are assessed occurs and are excluded from the right of use assets and lease liabilities balances. The lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Future minimum lease payments

Future minimum lease payments under non-cancelable operating leases (with initial lease terms in excess of one year) as of June 30, 2024 are:

	As of June 30, 2024
Maturity of Lease Liabilities (in millions)	Operating Leases (1)
Remainder of 2024	$	25.4
2025	41.6
2026	31.7
2027	21.5
2028	12.3
Thereafter	19.8
Total lease payments	$	152.3
Less: imputed interest	(9.0		)
Present value of lease liabilities	$	143.3

(1) Operating lease payments reflect the Company's current fixed obligations under the operating lease agreements.

Lease expense recognized in the Consolidated Statements of Income is summarized as follows:

Lease Expense (in millions)	Income Statement Classification	Three Months Ended June 30, 2024		Three Months Ended June 30, 2023		Six Months Ended June 30, 2024		Six Months Ended June 30, 2023
Operating lease expense	Selling, general and administrative and Direct operating costs	$	12.9	$	12.5	$	25.5	$	25.0
Short-term and variable lease expense	Selling, general and administrative and Direct operating costs		43.2		42.5		80.0		77.8
Total lease expense		$	56.1	$	55.0	$	105.5	$	102.8

Other information about lease amounts recognized in the consolidated financial statements is summarized as follows:


Lease Term and Discount Rate of Operating Leases	As of June 30, 2024
Weighted- average remaining lease term (years)	4.3
Weighted- average discount rate	2.9	%

The following table presents supplemental cash flow and non-cash information related to leases.


Other Information (in millions)	Six Months Ended June 30, 2024		Six Months Ended June 30, 2023
Cash paid for amounts included in the measurement of lease liabilities (a)	$	25.5	$	25.1
Supplemental non-cash information on lease liabilities arising from obtaining ROU assets:
ROU assets obtained in exchange for new operating lease liabilities	$	39.2	$	48.0

(a) Included in Net cash provided by operating activities on the Company's Consolidated Statements of Cash Flows.

SEGMENT INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
SEGMENT INFORMATION (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total revenues	$ 986.2	$ 939.1	$ 1,843.2	$ 1,726.3
Operating expenses:
Direct operating costs, exclusive of depreciation	580.8	558.1	1,114.5	1,049.7
Salaries and benefits	158.0	149.4	312.7	291.3
Selling, general and administrative	79.4	75.3	151.3	150.5
Depreciation and amortization	33.7	33.7	66.4	66.6
Total operating expenses	851.9	816.5	1,644.9	1,558.1
Operating income	134.3	122.6	198.3	168.2
Operating Segments [Member] \| EFT Processing Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	305.4	282.4	522.6	474.6
Operating expenses:
Direct operating costs, exclusive of depreciation	152.5	142.1	283.6	261.1
Salaries and benefits	34.4	30.8	66.2	58.3
Selling, general and administrative	13.5	16.6	22.7	32.7
Depreciation and amortization	25.1	23.8	48.7	46.5
Total operating expenses	225.5	213.3	421.2	398.6
Operating income	79.9	69.1	101.4	76.0
Operating Segments [Member] \| Epay Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	260.9	263.8	518.0	501.2
Operating expenses:
Direct operating costs, exclusive of depreciation	198.5	204.2	393.6	382.3
Salaries and benefits	25.1	22.0	49.2	43.4
Selling, general and administrative	9.3	9.1	18.9	17.9
Depreciation and amortization	1.8	1.7	3.5	3.3
Total operating expenses	234.7	237.0	465.2	446.9
Operating income	26.2	26.8	52.8	54.3
Operating Segments [Member] \| Money Transfer Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	421.8	394.8	806.4	754.2
Operating expenses:
Direct operating costs, exclusive of depreciation	231.7	213.7	441.1	410.0
Salaries and benefits	82.7	78.5	163.4	152.8
Selling, general and administrative	53.4	47.3	103.4	95.0
Depreciation and amortization	6.7	8.1	14.0	16.6
Total operating expenses	374.5	347.6	721.9	674.4
Operating income	47.3	47.2	84.5	79.8
Corporate Services, Eliminations and Other [Member]
Segment Reporting Information [Line Items]
Total revenues	(1.9)	(1.9)	(3.8)	(3.7)
Operating expenses:
Direct operating costs, exclusive of depreciation	(1.9)	(1.9)	(3.8)	(3.7)
Salaries and benefits	15.8	18.1	33.9	36.8
Selling, general and administrative	3.2	2.3	6.3	4.9
Depreciation and amortization	0.1	0.1	0.2	0.2
Total operating expenses	17.2	18.6	36.6	38.2
Operating income	(19.1)	(20.5)	(40.4)	(41.9)
Corporate Services, Eliminations and Other [Member] \| EFT Processing Segment [Member]
Segment Reporting Information [Line Items]
Total revenues
Corporate Services, Eliminations and Other [Member] \| Epay Segment [Member]
Segment Reporting Information [Line Items]
Total revenues
Corporate Services, Eliminations and Other [Member] \| Money Transfer Segment [Member]
Segment Reporting Information [Line Items]
Total revenues

SETTLEMENT ASSETS AND OBLIGATIONS (Details Textual) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
SETTLEMENT ASSETS AND OBLIGATIONS
Allowance for doubtful other receivables, current	$ 30.4	$ 35.7

GOODWILL AND ACQUIRED INTANGIBLE ASSETS, NET

6 Months Ended

Jun. 30, 2024

GOODWILL AND ACQUIRED INTANGIBLE ASSETS, NET

GOODWILL AND ACQUIRED INTANGIBLE ASSETS, NET

(6) GOODWILL AND ACQUIRED INTANGIBLE ASSETS, NET

A summary of acquired intangible assets and goodwill activity for the six months ended June 30, 2024 is presented below:


(in millions)	Acquired Intangible Assets			Goodwill			Total Intangible Assets
Balance as of December 31, 2023	$	167.6		$	847.5		$	1,015.1
Increases (decreases):
Acquisition	51.0			49.4			100.4
Amortization	(12.0		)	—			(12.0		)
Foreign currency exchange rate changes	(5.9		)	(19.4		)	(25.3		)
Balance as of June 30, 2024	$	200.7		$	877.5		$	1,078.2

Of the total goodwill balance of $877.5 million as of June 30, 2024, $382.1 million relates to the Money Transfer Segment, $372.4 million relates to the EFT Processing Segment and the remaining $123.0 million relates to the epay Segment. Estimated amortization expense on acquired intangible assets with finite lives as of June 30, 2024, is expected to total $9.6 million for the remainder of 2024, $17.9 million for 2025, $17.6 million for 2026, $16.3 million for 2027, $15.9 million for 2028 and $15.9 million for 2029.

SETTLEMENT ASSETS AND OBLIGATIONS (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Settlement assets:
Settlement cash and cash equivalents	$ 342.7	$ 327.4	$ 187.0	$ 242.7
Settlement restricted cash	121.3	125.0	$ 77.4	$ 94.0
Accounts receivable	860.5	1,002.1
Prepaid expenses and other current assets	153.8	227.0
Total settlement assets	1,478.3	1,681.5
Settlement obligations:
Trade account payables	537.7	708.6
Accrued expenses and other current liabilities	940.6	972.9
Total settlement obligations	$ 1,478.3	$ 1,681.5

ACQUISITIONS (Details Textuals) $ in Thousands		6 Months Ended
ACQUISITIONS (Details Textuals) $ in Thousands	Feb. 01, 2024 USD ($) Item	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Acquisitions
Business acquisition, goodwill		$ 877,500	$ 847,500
Business acquisition, goodwill, measurement period adjustment		49,400
Infinitium Group [Member]
Acquisitions
Payments to Acquire Businesses, cash paid	$ 70,000
Business acquisition, purchase consideration, Company’s common stock to be paid	$ 5,000
Business acquisition, Purchase consideration transferrable as equity, Number of installments \| Item	2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Acquired net assets	$ 5,600
Business acquisition, goodwill	18,400
Business acquisition, goodwill subsequent allocation		10,200
Business acquisition, goodwill, measurement period adjustment		$ 10,200
Infinitium Group [Member] \| Customer Relationships [Member]
Acquisitions
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 51,000

DEBT OBLIGATIONS (Details 1 - Textual)	Jun. 30, 2024
Convertible Notes, 0.75 Percent, due 2049 [Member]
Debt Instrument [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	0.75%
Senior Notes, 1.375 Percent, due 2026 [Member]
Debt Instrument [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	1.375%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONSOLIDATED BALANCE SHEETS (unaudited) (Parentheticals) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 3.7	$ 3.6
Accumulated depreciation of property and equipment	616.6	656.9
Accumulated amortization of intangible assets	221.4	214.1
Accumulated amortization of other assets	$ 79.3	$ 76.3
Preferred stock, par value per share	$ 0.02	$ 0.02
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value per share	$ 0.02	$ 0.02
Common stock, shares authorized	90,000,000	90,000,000
Common stock, shares issued	64,508,362	64,376,923
Treasury stock, shares	19,601,012	18,598,961

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Balance at Dec. 31, 2022	$ 1,244.4	$ 1.3	$ 1,251.8	$ (1,105.8)	$ 1,348.3	$ (251.0)	$ (0.2)
Balance, shares at Dec. 31, 2022		49,822,707
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	19.8				20.1		(0.3)
Other comprehensive income (loss)	20.9					20.8	0.1
Stock issued under employee stock plans	1.0		0.5	0.5
Stock issued under employee stock plans, shares		79,859
Share-based compensation	14.3		14.3
Repurchase of shares	(28.3)			(28.3)
Repurchase of shares, shares		(276,400)
Balance at Mar. 31, 2023	1,272.1	$ 1.3	1,266.6	(1,133.6)	1,368.4	(230.2)	(0.4)
Balance, shares at Mar. 31, 2023		49,626,166
Balance at Dec. 31, 2022	1,244.4	$ 1.3	1,251.8	(1,105.8)	1,348.3	(251.0)	(0.2)
Balance, shares at Dec. 31, 2022		49,822,707
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	105.8
Balance at Jun. 30, 2023	1,381.7	$ 1.3	1,280.3	(1,133.7)	1,454.5	(220.2)	(0.5)
Balance, shares at Jun. 30, 2023		49,655,544
Balance at Mar. 31, 2023	1,272.1	$ 1.3	1,266.6	(1,133.6)	1,368.4	(230.2)	(0.4)
Balance, shares at Mar. 31, 2023		49,626,166
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	86.0				86.1		(0.1)
Other comprehensive income (loss)	10.0					10.0
Stock issued under employee stock plans	1.3		1.3
Stock issued under employee stock plans, shares		30,188
Share-based compensation	12.4		12.4
Repurchase of shares	(0.1)			(0.1)
Repurchase of shares, shares		(810)
Balance at Jun. 30, 2023	1,381.7	$ 1.3	1,280.3	(1,133.7)	1,454.5	(220.2)	(0.5)
Balance, shares at Jun. 30, 2023		49,655,544
Balance at Dec. 31, 2023	1,249.7	$ 1.3	1,311.6	(1,487.7)	1,627.9	(203.2)	(0.2)
Balance, shares at Dec. 31, 2023		45,777,962
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	26.2				26.2
Other comprehensive income (loss)	(45.0)					(45.0)
Stock issued under employee stock plans	0.2		0.7	(0.5)
Stock issued under employee stock plans, shares		90,812
Share-based compensation	12.5		12.5
Repurchase of shares
Balance at Mar. 31, 2024	1,243.6	$ 1.3	1,324.8	(1,488.2)	1,654.1	(248.2)	(0.2)
Balance, shares at Mar. 31, 2024		45,868,774
Balance at Dec. 31, 2023	1,249.7	$ 1.3	1,311.6	(1,487.7)	1,627.9	(203.2)	(0.2)
Balance, shares at Dec. 31, 2023		45,777,962
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	109.4
Balance at Jun. 30, 2024	1,213.6	$ 1.3	1,336.9	(1,603.5)	1,737.3	(258.3)	(0.1)
Balance, shares at Jun. 30, 2024		44,907,350
Balance at Mar. 31, 2024	1,243.6	$ 1.3	1,324.8	(1,488.2)	1,654.1	(248.2)	(0.2)
Balance, shares at Mar. 31, 2024		45,868,774
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	83.2				83.1		0.1
Other comprehensive income (loss)	(10.0)					10.1
Stock issued under employee stock plans	0.5		1.9	(1.4)
Stock issued under employee stock plans, shares		38,576
Share-based compensation	10.2		10.2
Repurchase of shares	(113.9)			(113.9)
Repurchase of shares, shares		(1,000,000)
Balance at Jun. 30, 2024	$ 1,213.6	$ 1.3	$ 1,336.9	$ (1,603.5)	$ 1,737.3	$ (258.3)	$ (0.1)
Balance, shares at Jun. 30, 2024		44,907,350

SETTLEMENT ASSETS AND OBLIGATIONS

6 Months Ended

Jun. 30, 2024

SETTLEMENT ASSETS AND OBLIGATIONS

SETTLEMENT ASSETS AND OBLIGATIONS

(4) SETTLEMENT ASSETS AND OBLIGATIONS

Settlement assets represent funds received or to be received from agents for unsettled money transfers and from merchants for unsettled prepaid transactions. The Company records corresponding settlement obligations relating to accounts payable. Settlement assets consist of cash and cash equivalents, restricted cash, accounts receivable and prepaid expenses and other current assets. The settlement cash held at the Company is primarily generated from the monies remitted by consumers through Company agents and financial institutions in payment of the face value of the payment service or foreign currency purchased and the related fees charged to purchase the currency. The Company uses its cash and cash equivalents to pay the face value of the payment service product upon presentation by the recipient. Cash received by Company agents and merchants generally becomes available to us within two weeks after initial receipt by the business partner. Receivables from business partners represent funds collected by such business partners that are in transit to us.

Settlement obligations consist of accrued expenses for money transfers, content providers, and EFT customer deposits and accounts payable to agents and content providers. Money transfer accrued expenses represent amounts to be paid to transferees when they request funds. Most agents typically settle with transferees first then obtain reimbursement from us. Money order accrued expenses represent amounts not yet presented for payment. Due to the agent funding and settlement process, accrued expenses to agents represent amounts due to agents for money transfers that have not been settled with transferees.

	As of
(in millions)	June 30, 2024		December 31, 2023
Settlement assets:
Settlement cash and cash equivalents	$	342.7	$	327.4
Settlement restricted cash	121.3		125.0
Accounts receivable, net of credit losses of $30.4 and $35.7	860.5		1,002.1
Prepaid expenses and other current assets	153.8		227.0
Total settlement assets	$	1,478.3	$	1,681.5
Settlement obligations:
Trade account payables	$	537.7	$	708.6
Accrued expenses and other current liabilities	940.6		972.9
Total settlement obligations	$	1,478.3	$	1,681.5

The table below reconciles cash and cash equivalents, restricted cash, ATM cash, settlement cash and cash equivalents, and settlement restricted cash as presented within "Cash and cash equivalents and restricted cash" in the Consolidated Statement of Cash Flows.

	As of
(in millions)	June 30, 2024		December 31, 2023		June 30, 2023		December 31, 2022
Cash and cash equivalents	$	1,271.8	$	1,254.2	$	1,137.5	$	1,131.2
Restricted cash	23.8		15.2		14.4		7.4
ATM cash	795.6		525.2		776.3		515.6
Settlement cash and cash equivalents	342.7		327.4		187.0		242.7
Settlement restricted cash	121.3		125.0		77.4		94.0
Cash and cash equivalents and restricted cash at end of period	$	2,555.2	$	2,247.0	$	2,192.6	$	1,990.9

Insider Trading Arrangements	6 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual [Table]
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2024

SEGMENT INFORMATION

Schedule of reportable segment results

The following tables present the Company's reportable segment results for the three months and six months ended June 30, 2024 and 2023:

	For the Three Months Ended June 30, 2024
(in millions)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	305.4	$	260.9	$	421.8	$	(1.9	)	$	986.2
Operating expenses:
Direct operating costs, exclusive of depreciation	152.5		198.5		231.7		(1.9		)	580.8
Salaries and benefits	34.4		25.1		82.7		15.8			158.0
Selling, general and administrative	13.5		9.3		53.4		3.2			79.4
Depreciation and amortization	25.1		1.8		6.7		0.1			33.7
Total operating expenses	225.5		234.7		374.5		17.2			851.9
Operating income (loss)	$	79.9	$	26.2	$	47.3	$	(19.1	)	$	134.3

	For the Three Months Ended June 30, 2023
(in millions)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	282.4	$	263.8	$	394.8	$	(1.9	)	$	939.1
Operating expenses:
Direct operating costs, exclusive of depreciation	142.1		204.2		213.7		(1.9		)	558.1
Salaries and benefits	30.8		22.0		78.5		18.1			149.4
Selling, general and administrative	16.6		9.1		47.3		2.3			75.3
Depreciation and amortization	23.8		1.7		8.1		0.1			33.7
Total operating expenses	213.3		237.0		347.6		18.6			816.5
Operating income (loss)	$	69.1	$	26.8	$	47.2	$	(20.5	)	$	122.6

	For the Six Months Ended June 30, 2024
(in millions)		EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues		$	522.6	$	518.0	$	806.4	$	(3.8	)	$	1,843.2
Operating expenses:
Direct operating costs, exclusive of depreciation		283.6		393.6		441.1		(3.8		)	1,114.5
Salaries and benefits		66.2		49.2		163.4		33.9			312.7
Selling, general and administrative		22.7		18.9		103.4		6.3			151.3
Depreciation and amortization		48.7		3.5		14.0		0.2			66.4
Total operating expenses		421.2		465.2		721.9		36.6			1,644.9
Operating income (loss)		$	101.4	$	52.8	$	84.5	$	(40.4	)	$	198.3

	For the Six Months Ended June 30, 2023
(in millions)	EFT Processing		epay		Money Transfer		Corporate Services, Eliminations and Other			Consolidated
Total revenues	$	474.6	$	501.2	$	754.2	$	(3.7	)	$	1,726.3
Operating expenses:
Direct operating costs, exclusive of depreciation	261.1		382.3		410.0		(3.7		)	1,049.7
Salaries and benefits	58.3		43.4		152.8		36.8			291.3
Selling, general and administrative	32.7		17.9		95.0		4.9			150.5
Depreciation and amortization	46.5		3.3		16.6		0.2			66.6
Total operating expenses	398.6		446.9		674.4		38.2			1,558.1
Operating income (loss)	$	76.0	$	54.3	$	79.8	$	(41.9	)	$	168.2

The following table presents the Company's total assets by reportable segment:


	Total Assets as of
(in millions)	June 30, 2024		December 31, 2023
EFT Processing	$	2,951.2	$	2,442.0
epay	925.0		1,204.9
Money Transfer	1,847.7		1,921.1
Corporate Services, Eliminations and Other	336.9		326.4
Total	$	6,060.8	$	5,894.4

Schedule of Company's revenues disaggregated by segment and region

	Revenues for the Three Months Ended June 30, 2024									Revenues for the Six Months Ended June 30, 2024
(in millions)	EFT Processing		epay		Money Transfer		Total				EFT Processing		epay		Money Transfer		Total
Europe	$	230.2	$	161.5	$	173.4	$	565.1		$	377.3	$	328.1	$	334.5	$	1,039.9
North America	18.3		48.6		199.1		266.0				36.1		92.9		376.1		505.1
Asia Pacific	53.0		37.9		32.5		123.4				102.2		70.6		62.6		235.4
Other	3.9		12.9		16.8		33.6				7.0		26.4		33.2		66.6
Eliminations	—		—		—		(1.9		)		—		—		—		(3.8	)
Total	$	305.4	$	260.9	$	421.8	$	986.2		$	522.6	$	518.0	$	806.4	$	1,843.2

	Revenues for the Three Months Ended June 30, 2023									Revenues for the Six Months Ended June 30, 2023
(in millions)	EFT Processing		epay		Money Transfer		Total				EFT Processing		epay		Money Transfer		Total
Europe	$	223.7	$	172.4	$	166.1	$	562.2		$	358.6	$	327.3	$	315.3	$	1,001.2
North America	17.3		44.6		186.9		248.8				35.3		80.4		349.6		465.3
Asia Pacific	40.3		38.1		28.8		107.2				76.0		57.8		50.9		184.7
Other	1.1		8.7		13.0		22.8				4.7		35.7		38.4		78.8
Eliminations	—		—		—		(1.9		)		—		—		—		(3.7	)
Total	$	282.4	$	263.8	$	394.8	$	939.1		$	474.6	$	501.2	$	754.2	$	1,726.3

GOODWILL AND ACQUIRED INTANGIBLE ASSETS, NET (Details Textual) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Goodwill	$ 877.5	$ 847.5
Finite-lived intangible asset, expected amortization, remainder of 2024	9.6
Finite-lived intangible asset, expected amortization, 2025	17.9
Finite-lived intangible asset, expected amortization, 2026	17.6
Finite-lived intangible asset, expected amortization, 2027	16.3
Finite-lived intangible asset, expected amortization, 2028	15.9
Finite-lived intangible asset, expected amortization, 2029	15.9
Money Transfer Segment [Member]
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Goodwill	382.1
EFT Processing Segment [Member]
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Goodwill	372.4
Epay Segment [Member]
Schedule of Finite and Indefinite Lived Intangible Assets [Line Items]
Goodwill	$ 123.0

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

6 Months Ended

Jun. 30, 2024

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

(8) ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consist of the following:


	As of
(in millions)	June 30, 2024		December 31, 2023
Accrued expenses	$	297.9	$	254.8
Derivative liabilities	28.4		39.1
Other tax payables	19.6		69.1
Accrued payroll expenses	55.5		74.4
Current portion of capital lease obligations	1.6		1.6
Total	$	403.0	$	439.0

SEGMENT INFORMATION (Details 1) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total	$ 6,060.8	$ 5,894.4
Operating Segments [Member] \| EFT Processing Segment [Member]
Segment Reporting Information [Line Items]
Total	2,951.2	2,442.0
Operating Segments [Member] \| Epay Segment [Member]
Segment Reporting Information [Line Items]
Total	925.0	1,204.9
Operating Segments [Member] \| Money Transfer Segment [Member]
Segment Reporting Information [Line Items]
Total	1,847.7	1,921.1
Corporate Services, Eliminations and Other [Member]
Segment Reporting Information [Line Items]
Total	$ 336.9	$ 326.4

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2024
INCOME TAXES
INCOME TAXES	(14) INCOME TAXES The Company's effective income tax rate was 32.0% and 33.5% for the three and six months ended June 30, 2024 respectively, compared to 27.3% and 31.9% for the three and six months ended June 30, 2023, respectively. The Company's effective income tax rate for the three and six months ended June 30, 2024 was higher than the applicable statutory income tax rate of 21% mainly as a result of certain foreign earnings being subject to higher local statutory tax rates and our U.S. deferred tax activity. Our effective income tax rate for the three and six months ended June 30, 2023 was higher than the applicable statutory income tax rate of 21% as a result of our U.S. deferred tax activity and certain foreign earnings being subject to higher local statutory tax rates. The Organization for Economic Co-operation and Development (“OECD”) Pillar 2 guidelines published to date include transition and safe harbor rules around the implementation of the Pillar 2 global minimum tax of 15%. Based on current enacted legislation effective in 2024, the Company does not expect a material financial impact in 2024. We are monitoring developments and evaluating the impacts these new rules will have on our future income tax provision and effective income tax rate.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 1) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Derivative Assets, Gross Amounts of Recognized Assets	$ 32.4	$ 50.0
Derivative Assets, Gross Amounts Offset in the Consolidated Balance Sheet
Derivative Assets, Net Amounts Presented in the Consolidated Balance Sheet	32.4	50.0
Derivative Assets, Derivatives Not Offset in the Consolidated Balance Sheet	(14.6)	(19.9)
Derivative Assets, Net Amounts	17.8	30.1
Derivative Liabilities, Gross Amounts of Recognized Liabilities	(28.4)	(39.1)
Derivative Liabilities, Gross Amounts Offset in the Consolidated Balance Sheet
Derivative Liabilities, Net Amounts Presented in the Consolidated Balance Sheet	(28.4)	(39.1)
Derivative Liabilities, Derivatives Not Offset in the Consolidated Balance Sheet	18.4	26.3
Derivative Liabilities, Net Amounts	$ (10.0)	$ (12.8)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

6 Months Ended

Jun. 30, 2024

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Schedule of fair value of the derivative instruments as recorded in the Consolidated Balance Sheets

	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
(in millions)	Balance Sheet Location	June 30, 2024		December 31, 2023		Balance Sheet Location	June 30, 2024			December 31, 2023
Derivatives not designated as hedging instruments
Foreign currency exchange contracts	Other current assets	$	32.4	$	50.0	Other current liabilities	$	(28.4	)	$	(39.1	)

Schedule of offsetting assets and liabilities

Offsetting of Derivative Assets

As of June 30, 2024	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts Presented in the Consolidated Balance Sheet		Derivatives Not Offset in the Consolidated Balance Sheet			Net Amounts
Derivatives subject to a master netting arrangement or similar agreement	$	32.4	$	—	$	32.4	$	(14.6	)	$	17.8

As of December 31, 2023
Derivatives subject to a master netting arrangement or similar agreement	$	50.0	$	—	$	50.0	$	(19.9	)	$	30.1

Offsetting of Derivative Liabilities

As of June 30, 2024	Gross Amounts of Recognized Liabilities			Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts Presented in the Consolidated Balance Sheet			Derivatives Not Offset in the Consolidated Balance Sheet		Net Amounts
Derivatives subject to a master netting arrangement or similar agreement	$	(28.4	)	$	—	$	(28.4	)	$	18.4	$	(10.0	)

As of December 31, 2023
Derivatives subject to a master netting arrangement or similar agreement	$	(39.1	)	$	—	$	(39.1	)	$	26.3	$	(12.8	)

Schedule of amount of gains and losses on derivatives in the Consolidated Statements of Income

		Loss Recognized in Income on Derivative Contracts (a)
	Location of Loss Recognized in Income on Derivative Contracts	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)		2024			2023			2024			2023
Foreign currency exchange contracts - Ria Operations	Foreign currency exchange loss, net	$	(1.0	)	$	(0.5	)	$	(2.7	)	$	(2.1	)

CONVERTIBLE NOTES RECEIVABLE (Details) - Convertible Notes Receivable [Member] $ in Millions	Oct. 19, 2023 USD ($)	Jun. 30, 2024 USD ($)
Convertible Notes Receivable
Principal amount of receivable	$ 60.0	$ 60.0
Number of convertible notes receivable	2
Receivable, Interest rate per annum	2.00%
Unpaid principal and interest due and payable date	Oct. 18, 2028
Accrued interest receivable		$ 0.8

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2024

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Schedule of accrued expenses and other current liabilities

Accrued expenses and other current liabilities consist of the following:


	As of
(in millions)	June 30, 2024		December 31, 2023
Accrued expenses	$	297.9	$	254.8
Derivative liabilities	28.4		39.1
Other tax payables	19.6		69.1
Accrued payroll expenses	55.5		74.4
Current portion of capital lease obligations	1.6		1.6
Total	$	403.0	$	439.0

GENERAL	6 Months Ended
GENERAL	Jun. 30, 2024
GENERAL
GENERAL	(1) GENERAL Organization Euronet Worldwide, Inc. (the "Company" or "Euronet") was established as a Delaware corporation on December 13, 1996 and succeeded Euronet Holding N.V. as the group holding company, which was founded and established in 1994. Euronet is a leading electronic payments provider. Euronet offers payment and transaction processing and distribution solutions to financial institutions, retailers, service providers and individual consumers. Euronet's primary product offerings include comprehensive ATM, point-of-sale ("POS"), card outsourcing, card issuing and merchant acquiring services, electronic distribution of prepaid mobile airtime and other electronic payment products, and international payment services. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared from the records of the Company, in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, such unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to fairly present the consolidated financial position and the results of operations, comprehensive income, changes in equity and cash flows for the interim periods. The unaudited consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements for the year ended December 31, 2023, including the notes thereto, set forth in the Company's 2023 Annual Report on Form 10-K. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include computing income taxes, estimating the useful lives and potential impairment of long-lived assets and goodwill, as well as allocating the purchase price to assets acquired and liabilities assumed in acquisitions and revenue recognition. Actual results could differ from those estimates. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year ending December 31, 2024. Seasonality The Company's EFT Processing Segment normally experiences its heaviest demand for dynamic currency conversion ("DCC") services during the third quarter of the fiscal year, normally coinciding with the tourism season. The epay Segment is normally impacted by seasonality during the fourth quarter and first quarter of each year due to higher transaction levels during the holiday season and lower levels following the holiday season. Also, epay sells large loyalty rewards campaigns to retailers, which could be deployed in any given quarter and will impact the activity in that quarter accordingly. Seasonality in the Money Transfer Segment varies by region of the world. In most markets, the Company usually experiences increased demand for money transfer services from the month of May through the fourth quarter of each year, coinciding with the increase in worker migration patterns and various holidays, and its lowest transaction levels during the first quarter of the year.

LEASES (Tables)

6 Months Ended

Jun. 30, 2024

LEASES

Schedule of future minimum lease payments under non-cancelable operating leases

	As of June 30, 2024
Maturity of Lease Liabilities (in millions)	Operating Leases (1)
Remainder of 2024	$	25.4
2025	41.6
2026	31.7
2027	21.5
2028	12.3
Thereafter	19.8
Total lease payments	$	152.3
Less: imputed interest	(9.0		)
Present value of lease liabilities	$	143.3

(1) Operating lease payments reflect the Company's current fixed obligations under the operating lease agreements.

Schedule of lease expense recognized in the Consolidated Statements of Income

Lease expense recognized in the Consolidated Statements of Income is summarized as follows:

Lease Expense (in millions)	Income Statement Classification	Three Months Ended June 30, 2024		Three Months Ended June 30, 2023		Six Months Ended June 30, 2024		Six Months Ended June 30, 2023
Operating lease expense	Selling, general and administrative and Direct operating costs	$	12.9	$	12.5	$	25.5	$	25.0
Short-term and variable lease expense	Selling, general and administrative and Direct operating costs		43.2		42.5		80.0		77.8
Total lease expense		$	56.1	$	55.0	$	105.5	$	102.8

Schedule of Lease Term and Discount Rate of Operating Leases

Other information about lease amounts recognized in the consolidated financial statements is summarized as follows:


Lease Term and Discount Rate of Operating Leases	As of June 30, 2024
Weighted- average remaining lease term (years)	4.3
Weighted- average discount rate	2.9	%

Schedule of supplemental cash flow and non-cash information related to leases

The following table presents supplemental cash flow and non-cash information related to leases.


Other Information (in millions)	Six Months Ended June 30, 2024		Six Months Ended June 30, 2023
Cash paid for amounts included in the measurement of lease liabilities (a)	$	25.5	$	25.1
Supplemental non-cash information on lease liabilities arising from obtaining ROU assets:
ROU assets obtained in exchange for new operating lease liabilities	$	39.2	$	48.0

(a) Included in Net cash provided by operating activities on the Company's Consolidated Statements of Cash Flows.

DEBT OBLIGATIONS

6 Months Ended

Jun. 30, 2024

DEBT OBLIGATIONS

DEBT OBLIGATIONS

(10) DEBT OBLIGATIONS

Debt obligations consist of the following:

	As of
(in millions)	June 30, 2024			December 31, 2023
Credit Facility:
Revolving credit agreement	$	396.6		$	536.9
Notes:
0.75% Convertible Notes, unsecured, due 2049	525.0			525.0

1.375% Senior Notes, due 2026	642.6			662.2

Uncommitted credit agreements	700.0			150.0

Other obligations	8.9			0.3

Total debt obligations	2,273.1			1,874.4
Unamortized debt issuance costs	(6.6		)	(8.7		)
Carrying value of debt	2,266.5			1,865.7
Short-term debt obligations and current maturities of long-term debt obligations	(1,233.8		)	(150.3		)
Long-term debt obligations	$	1,032.7		$	1,715.4

Credit Facility

On October 24, 2022, the Company amended its revolving credit agreement (the “Credit Facility”) to increase the facility from $1.03 billion to $1.25 billion and to extend the expiration to October 24, 2027.

The revolving credit facility contains a sublimit of up to $250 million, with $150 million committed, for the issuance of letters of credit and a $75 million sublimit for U.S. dollar swingline loans and a $75 million sublimit for swingline loans in euros or British pounds sterling. The Credit Facility allows for borrowings in British pounds sterling, euro and U.S. dollars. Subject to certain conditions, the Company has the option to increase the credit facility by up to an additional $500 million by requesting additional commitments from existing or new lenders. Fees and interest on borrowings vary based upon the Company's corporate credit rating and will be based, in the case of letter of credit fees, on a margin, and in the case of interest, on a margin over a secured overnight financing rate, as defined in the agreement, with a margin, including the facility fee, ranging from 1.00% to 1.625% or the base rate, as selected by the Company. The applicable margin for borrowings under the credit facility, based on the Company's current credit rating is 1.25% including the facility fee.

The Agreement contains customary affirmative and negative covenants, events of default and financial covenants, including (all as defined in the Credit Facility): (i) a Consolidated Total Leverage Ratio, depending on certain circumstances defined in the Credit Facility, not to exceed a range between 3.5 to 1.0 and 4.5 to 1.0; and (ii) a Consolidated Interest Coverage Ratio of not less than 3.0 to 1.0. Subject to meeting certain customary covenants (as defined in the Credit Facility), the Company is permitted to repurchase common stock and debt. The Company was in compliance with all debt covenants as of June 30, 2024.

Convertible Notes

On March 18, 2019, the Company completed the sale of $525.0 million of Convertible Senior Notes ("Convertible Notes"). The Convertible Notes mature in March 2049 unless redeemed or converted prior to such date, and are convertible into shares of Euronet common stock at a conversion price of approximately $188.73 per share if certain conditions are met (relating to the closing price of Euronet common stock exceeding certain thresholds for specified periods). Holders of the Convertible Notes have the option to require the Company to purchase their notes on each of March 15, 2025, March 15, 2029, March 15, 2034, March 15, 2039 and March 15, 2044 at a repurchase price equal to 100% of the principal amount of the Convertible Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the relevant repurchase date. In connection with the issuance of the Convertible Notes, the Company recorded $12.8 million in debt issuance costs, which are being amortized through March 1, 2025.

The Company may redeem for cash all or any portion of the Convertible Notes, at its option, (i) if the closing sale price of the Company's Common Stock has been at least 130 % of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption and (ii) on or after March 20, 2025 and prior to the maturity date, regardless of the foregoing sale price condition, in each case at a redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the Convertible Notes. In addition, if a fundamental change, as defined in the Indenture, occurs prior to the maturity date, holders may require the Company to repurchase for cash all or part of their Convertible Notes at a repurchase price equal to 100% of the principal amount of the Convertible Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. As of June 30, 2024, the conversion threshold was not met. Contractual interest expense for the Convertible Notes was $1.0 million and $2.0 million for the three and six months ended June 30, 2024 , respectively. Contractual interest expense for the Convertible Notes was $1.1 million and $2.0 million for the three and six months ended June 30, 2023, respectively.

1.375% Senior Notes due 2026

On May 22, 2019, the Company completed the sale of €600.0 million ($669.9 million) aggregate principal amount of Senior Notes that are due in May 2026 (the “Senior Notes”). The Senior Notes accrue interest at a rate of 1.375% per year, payable annually in arrears commencing May 22, 2020, until maturity or earlier redemption. As of June 30, 2024, the Company has outstanding €600.0 million ($642.6 million) principal amount of the Senior Notes. In addition, the Company may redeem some or all of these notes on or after February 22, 2026 at their principal amount plus any accrued and unpaid interest.

Uncommitted Credit Agreements

On June 26, 2023, the Company entered into an Uncommitted Loan Agreement for $150 million, which expired on June 21, 2024. This loan was a Prime rate loan, a Bloomberg Short-term Bank Yield (“BSBY”) rate loan plus 0.95% or bore interest at the rate agreed to by the Bank and the Company at the time a loan was made. The weighted average interest rate from the loan inception date to June 21, 2024, was 6.32%.

On June 21, 2024, the Company rolled the $150 Uncommitted Loan Agreement into a new Uncommitted Loan Agreement with a $400 million credit limit on or before September 30, 2024, and a credit limit of $250 million on or after October 1, 2024. The loan was fully drawn and outstanding at June 30, 2024, for the sole purpose of providing vault cash for ATMs and expires no later than June 20, 2025. The loan is a Prime Rate Loan, a Daily SOFR Rate Loan plus 1.05% or shall bear interest at the rate agreed to by the Bank and the Borrower at the time such Loan is made. The weighted-average interest rate from loan inception date to June 30, 2024, was 6.37%.

On June 27, 2024, the Company entered into an Uncommitted Loan Agreement for $300 million, fully drawn and outstanding at June 30, 2024, for the sole purpose of providing vault cash for ATMs, that expires no later than November 30, 2024. The loan is a Prime Rate Loan, a Daily Simple SOFR Rate Loan plus 1.125% or shall bear interest at the rate agreed to by the Bank and the Borrower at the time such Loan is made. The weighted-average interest rate from the loan inception date to June 30, 2024 was 6.37%.

Other obligations

Certain of the Company's subsidiaries have available lines of credit and overdraft credit facilities that generally provide for short-term borrowings that are used from time to time for working capital purposes. As of June 30, 2024 and December 31, 2023, borrowings under these arrangements were $8.9 million and $0.3 million, respectively.

Debt Issuance Costs

As of June 30, 2024, the Company had unamortized debt issuance costs of $2.7 million for the Credit Facility, $1.6 million for the Convertible Notes and $2.3 million for the Senior Notes that will be amortized through October 2027, March 2025 and May 2026, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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+ Details

LEASES (Details 1) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
LEASES (Details 1) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
LEASES
Operating lease expense	$ 12.9	$ 12.5	$ 25.5	$ 25.0
Short-term and variable lease expense	43.2	42.5	80.0	77.8
Total lease expense	$ 56.1	$ 55.0	$ 105.5	$ 102.8

SEGMENT INFORMATION (Details Textual)	6 Months Ended
SEGMENT INFORMATION (Details Textual)	Jun. 30, 2024 segment
SEGMENT INFORMATION
Number of reportable segments	3

DEBT OBLIGATIONS (Details 2 - Textual) - USD ($) $ in Millions					6 Months Ended
	Jun. 27, 2024	Jun. 21, 2024	Jun. 26, 2023	Oct. 24, 2022	Jun. 30, 2024	Oct. 23, 2022
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 1,250		$ 1,030
Line of credit facility, expiration date				Oct. 24, 2027
Debt Instrument, Basis Spread on Variable Rate					1.25%
Line of Credit Facility, Covenant Terms					(i) a Consolidated Total Leverage Ratio, depending on certain circumstances defined in the Credit Facility, not to exceed a range between 3.5 to 1.0 and 4.5 to 1.0; and (ii) a Consolidated Interest Coverage Ratio of not less than 3.0 to 1.0. Subject to meeting certain customary covenants (as defined in the Credit Facility), the Company is permitted to repurchase common stock and debt.
Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate					1.00%
Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Capacity available subject to certain conditions					$ 500
Debt Instrument, Basis Spread on Variable Rate					1.625%
Revolving Credit Facility [Member] \| Sublimit, 1 [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 250
Revolving Credit Facility [Member] \| Sublimit, 1 [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					150
Revolving Credit Facility [Member] \| Sublimit, 1 [Member] \| U.S. dollar swingline loans [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					75
Revolving Credit Facility [Member] \| Sublimit, 1 [Member] \| Foreign currencies swingline loans [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 75
Uncommitted Loan Agreement [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 400
Debt Instrument, Basis Spread on Variable Rate	1.125%	1.05%	0.95%
Debt Instrument, Face Amount	$ 300	$ 150	$ 150
Debt Instrument, Maturity Date Range, End	Nov. 30, 2024				Jun. 20, 2025
Debt Instrument, Description of Variable Rate Basis	Daily Simple SOFR Rate Loan	Daily SOFR Rate Loan	Bloomberg Short-term Bank Yield (“BSBY”) rate loan
Weighted-average interest rate		6.32%			6.37%
Line of credit facility, remaining borrowing capacity		$ 250

STOCKHOLDERS' EQUITY (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Sep. 13, 2023	Sep. 13, 2022	Mar. 18, 2019
Equity, Class of Treasury Stock [Line Items]
Weighted average common shares outstanding	3,100,000	2,600,000	3,200,000	2,600,000
Conversion price							$ 188.73
Foreign currency translation gain (loss)	$ (10.0)	$ 10.0	$ (55.0)	$ 30.8
Reclassifications of foreign currency translation	$ 0.0	$ 0.0	$ 0.0	$ 0.0
Incremental shares from assumed conversion of convertible debt	2,781,818	2,781,818	2,781,818	2,781,818
Share Repurchase Plan, 2022 [Member]
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount					$ 350.0	$ 350.0
Stock repurchase program, number of shares authorized	0		0		7,000,000	7,000,000
Share Repurchase Plan, 2023 [Member]
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, number of shares authorized	6,900,000		6,900,000
Convertible Senior Notes ("Convertible Notes") [Member]
Equity, Class of Treasury Stock [Line Items]
Incremental shares from assumed conversion of convertible debt			2,800,000

GOODWILL AND ACQUIRED INTANGIBLE ASSETS, NET (Tables)

6 Months Ended

Jun. 30, 2024

GOODWILL AND ACQUIRED INTANGIBLE ASSETS, NET

Schedule of acquired intangible assets and goodwill activity

A summary of acquired intangible assets and goodwill activity for the six months ended June 30, 2024 is presented below:


(in millions)	Acquired Intangible Assets			Goodwill			Total Intangible Assets
Balance as of December 31, 2023	$	167.6		$	847.5		$	1,015.1
Increases (decreases):
Acquisition	51.0			49.4			100.4
Amortization	(12.0		)	—			(12.0		)
Foreign currency exchange rate changes	(5.9		)	(19.4		)	(25.3		)
Balance as of June 30, 2024	$	200.7		$	877.5		$	1,078.2

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenues	$ 986.2	$ 939.1	$ 1,843.2	$ 1,726.3
Operating expenses:
Direct operating costs, exclusive of depreciation	580.8	558.1	1,114.5	1,049.7
Salaries and benefits	158.0	149.4	312.7	291.3
Selling, general and administrative	79.4	75.3	151.3	150.5
Depreciation and amortization	33.7	33.7	66.4	66.6
Total operating expenses	851.9	816.5	1,644.9	1,558.1
Operating income	134.3	122.6	198.3	168.2
Other income (expense):
Interest income	5.9	3.5	11.6	6.1
Interest expense	(20.1)	(14.0)	(35.0)	(24.1)
Foreign currency exchange gain (loss), net	1.5	6.3	(11.0)	5.2
Other (losses) gains, net	0.8	(0.1)	0.7	(0.1)
Other expense, net	(11.9)	(4.3)	(33.7)	(12.9)
Income before income taxes	122.4	118.3	164.6	155.3
Income tax expense	(39.2)	(32.3)	(55.2)	(49.5)
Net income	83.2	86.0	109.4	105.8
Net (income) loss attributable to noncontrolling interests	(0.1)	0.1	(0.1)	0.4
Net income attributable to Euronet Worldwide, Inc.	$ 83.1	$ 86.1	$ 109.3	$ 106.2
Earnings per share attributable to Euronet Worldwide, Inc. stockholders:
Basic	$ 1.83	$ 1.73	$ 2.4	$ 2.14
Diluted	$ 1.73	$ 1.65	$ 2.28	$ 2.05
Weighted average shares outstanding:
Basic	45,429,998	49,637,589	45,623,470	49,724,478
Diluted	48,700,270	52,871,415	48,828,642	52,918,519

DEFERRED REVENUES (Details) $ in Millions	6 Months Ended
DEFERRED REVENUES (Details) $ in Millions	Jun. 30, 2024 USD ($)
DEFERRED REVENUES
Deferred revenue, revenue recognized	$ 24.1
Decrease in deferred revenue by cash payments received	$ 23.7

LEASES (Details)
$ in Millions

Jun. 30, 2024

USD ($)

^[1]

LEASES

$ 25.4

41.6

31.7

21.5

12.3

19.8

152.3

Less: imputed interest

(9.0)

Present value of lease liabilities

$ 143.3

[1]	Operating lease payments reflect the Company's current fixed obligations under the operating lease agreements.

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Xe Operations [Member] \| Foreign Exchange Contracts [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative instruments, notional amount	$ 1,500.0		$ 1,500.0		$ 1,100.0
United States of America, Dollars \| Ria Operations [Member] \| Foreign Exchange Contracts [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative instruments, notional amount	509.7		509.7		393.3
Euro Member Countries, Euro \| Ria Operations [Member] \| Foreign Exchange Contracts [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative instruments, notional amount	216.1		$ 216.1		$ 563.1
Maximum [Member] \| Ria Operations [Member] \| Foreign Exchange Contracts [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency forward contract term			14 days
Maximum [Member] \| Xe Operations [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Term of Contract			1 year
Trading Revenue [Member] \| Xe Operations [Member] \| Foreign Exchange Contracts [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency exchange margin	$ 22.4	$ 21.5	$ 43.3	$ 41.6

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) - Foreign Exchange Contracts [Member] - Not Designated as Hedging Instrument [Member] - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange contracts	$ 32.4	$ 50.0
Accrued expenses and other current liabilities [Member]
Derivatives, Fair Value [Line Items]
Foreign currency derivative instruments, liability at fair value	$ (28.4)	$ (39.1)