Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION - (Tables)

v3.21.1
SEGMENT INFORMATION - (Tables)
12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information by Segment
Information on segments and reconciliations to consolidated revenues, consolidated income (loss) from operations, and consolidated depreciation and amortization are as follows for the years presented:
Year Ended December 31,
(in thousands) 2020 2019 2018
Revenues:
Consumer Payments $ 367,816  $ 330,599  $ 347,013 
Commercial Payments 20,922  25,980  27,056 
Integrated Partners 15,604  15,275  1,753 
Consolidated revenues $ 404,342  $ 371,854  $ 375,822 
Income (loss) from operations:
Consumer Payments $ 38,392  $ 32,237  $ 47,002 
Commercial Payments 923  (891) (952)
Integrated Partners 1,404  725  (1,969)
   Corporate (19,858) (24,887) (27,688)
Consolidated income from operations $ 20,861  $ 7,184  $ 16,393 
Depreciation and amortization:
Consumer Payments $ 35,002  $ 32,842  $ 17,945 
Commercial Payments 306  323  557 
Integrated Partners 4,299  4,398  145 
   Corporate 1,168  1,529  1,093 
Consolidated depreciation and amortization $ 40,775  $ 39,092  $ 19,740 
Reconciliation of Revenue from Segments to Consolidated
A reconciliation of total income from operations of reportable segments to the Company's net income (loss) attributable to stockholders of Priority Technology Holdings, Inc. is provided in the following table:
Year Ended December 31,
(in thousands) 2020 2019 2018
Total income from operations of reportable segments $ 40,719  $ 32,071  $ 44,081 
Less Corporate (19,858) (24,887) (27,688)
Less interest expense (44,839) (40,653) (29,935)
Less debt modification and extinguishment expense (1,899) —  (2,043)
Add gain on sale of business 107,239  —  — 
Add (less) other, net 596  710  (4,741)
Income tax (expense) benefit (10,899) (830) 2,490 
     Net income (loss) 71,059  (33,589) (17,836)
Less earnings attributable to non-controlling interests (45,398) —  — 
Net income (loss) attributable to stockholders of Priority Technology Holdings, Inc. $ 25,661  $ (33,589) $ (17,836)
Reconciliation of Assets from Segment to Consolidated
Total assets, all located in the United States, by reportable segment reconciled to consolidated assets as of December 31, 2020 and 2019 were as follows:
(in thousands) As of December 31,
2020 2019
Consumer Payments $ 261,675  $ 274,136 
Commercial Payments 81,106  45,152 
Integrated Partners 3,991  74,386 
Corporate 71,057  70,831 
Total consolidated assets $ 417,829  $ 464,505