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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Receivables, allowances	$ 2,581	$ 4,295
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.005	$ 0.005
Common stock, shares authorized (in shares)	280,000,000	280,000,000
Common stock, shares issued (in shares)	140,525,055	140,525,055
Treasury stock, shares (in shares)	34,267,073	32,447,317

Common Stock and Treasury Stock	3 Months Ended
Common Stock and Treasury Stock	Mar. 31, 2024
Equity [Abstract]
Common Stock and Treasury Stock	Common Stock and Treasury Stock In 2005, the board approved a stock repurchase program authorizing the Company, as market and business conditions warrant, to acquire its common stock and periodically authorize additional funds for the program. In February 2023, the board approved the repurchase of the Company's common stock of up to $200.0 million, in place of the remaining purchase amounts previously authorized. The Company repurchased 2,060,433 shares for $63.1 million during the three months ended March 31, 2024. Under the program to date, the Company has repurchased 60,981,733 shares for approximately $1.0 billion. As of March 31, 2024, the maximum remaining amount authorized for purchase under the stock repurchase program was $109.3 million.

- Definition

The entire disclosure for equity.

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net loss	$ (7,751)	$ (32,308)

- 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

Segment Information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Selected Financial Data by Reportable Segment

The following is selected financial data for the Company’s reportable segments for the periods indicated (in thousands):


	Three Months Ended March 31,
		2024		2023
Revenue
Banks		$	105,429	$	88,040
Merchants		35,728		34,781
Billers		174,862		166,855
Total revenue		$	316,019	$	289,676
Segment Adjusted EBITDA
Banks		$	41,638	$	24,681
Merchants		10,651		6,544
Billers		30,737		29,641
Depreciation and amortization		(27,609)		(31,539)
Stock-based compensation expense		(8,099)		(5,301)
Corporate and unallocated expenses		(37,758)		(48,378)
Interest, net		(15,001)		(15,387)
Other, net		(2,025)		(3,395)
Loss before income taxes		$	(7,466)	$	(43,134)

Schedule of Revenue by Primary Solution Category for Reportable Segments

The following is revenue by primary solution category for the Company’s reportable segments for the periods indicated (in thousands):


	Three Months Ended March 31, 2024
	Banks		Merchants		Billers		Total
Primary Solution Categories
Bill Payments	$	—	$	—	$	174,862	$	174,862

Merchant Payments	—		35,728		—		35,728
Fraud Management	11,507		—		—		11,507
Real-Time Payments	24,748		—		—		24,748
Issuing and Acquiring	69,174		—		—		69,174
Total	$	105,429	$	35,728	$	174,862	$	316,019

	Three Months Ended March 31, 2023
	Banks		Merchants		Billers		Total
Primary Solution Categories
Bill Payments	$	—	$	—	$	166,855	$	166,855

Merchant Payments	—		34,781		—		34,781
Fraud Management	9,355		—		—		9,355
Real-Time Payments	19,398		—		—		19,398
Issuing and Acquiring	59,287		—		—		59,287
Total	$	88,040	$	34,781	$	166,855	$	289,676


	Three Months Ended March 31,
		2024		2023
Banks
Software as a service and platform as a service		$	10,518	$	9,249
License		28,533		16,316
Maintenance		44,326		46,342
Services		22,052		16,133
Total		$	105,429	$	88,040
Merchants
Software as a service and platform as a service		$	30,352	$	28,850
License		1,440		2,015
Maintenance		3,428		3,737
Services		508		179
Total		$	35,728	$	34,781
Billers
Software as a service and platform as a service		$	174,862	$	166,831
License		—		—
Maintenance		—		24
Services		—		—
Total		$	174,862	$	166,855

Schedule of Revenue by Geographic Location

The following is the Company's revenue by geographic location for the periods indicated (in thousands):


	Three Months Ended March 31,
	2024		2023
Revenue
United States	$	228,107	$	201,269
Other	87,912		88,407
Total	$	316,019	$	289,676

Schedule of Long-lived Assets by Geographic Location

The following is the Company’s long-lived assets by geographic location for the periods indicated (in thousands):


	March 31, 2024		December 31, 2023
Long-lived Assets
United States	$	1,209,207	$	1,216,158
Other	736,375		763,437
Total	$	1,945,582	$	1,979,595

Debt - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
Debt - Narrative (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2019	Feb. 26, 2024	Dec. 31, 2023	Aug. 12, 2020	Aug. 21, 2018
Debt Instrument [Line Items]
Long-term debt, amount outstanding	$ 1,026,625,000
Credit Agreement
Debt Instrument [Line Items]
Effective interest rate (percentage)	7.43%
Credit Agreement \| Parent Company and Domestic Subsidiaries
Debt Instrument [Line Items]
Percentage of capital stock pledged as collateral	100.00%
Credit Agreement \| Foreign Subsidiaries
Debt Instrument [Line Items]
Percentage of capital stock pledged as collateral	65.00%
Credit Agreement \| Maximum
Debt Instrument [Line Items]
Total net leverage ratio			4.25
Credit Agreement \| Option (a)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Credit Agreement \| Federal Funds Effective Rate \| Option (a)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Credit Agreement \| Secured Overnight Financing Rate (SOFR) \| Option (a)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Credit Agreement \| Secured Overnight Financing Rate (SOFR) \| Option (b) \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%
Credit Agreement \| Secured Overnight Financing Rate (SOFR) \| Option (b) \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.50%
Credit Agreement \| Base Rate \| Option (a) \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Credit Agreement \| Base Rate \| Option (a) \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%
Senior Notes \| 5.750% Senior notes, due August 2026
Debt Instrument [Line Items]
Long-term debt, amount outstanding	$ 400,000,000
Debt instrument, face amount						$ 400,000,000
Stated interest rate (as a percent)			5.75%			5.75%
Issue price percentage of senior notes of the principal amount						100.00%
Other \| Multi-year License Agreement
Debt Instrument [Line Items]
Other long-term debt, amount outstanding	3,600,000			$ 3,600,000
Revolving credit facility \| Credit Agreement
Debt Instrument [Line Items]
Line of credit, carrying amount	136,000,000
Unused borrowings	461,900,000
Revolving credit facility \| Letter of Credit \| Credit Agreement
Debt Instrument [Line Items]
Unused borrowings					$ 2,100,000
Revolving credit facility \| Line of Credit \| Refinance Amendment
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 600,000,000
Term loans \| Credit Agreement
Debt Instrument [Line Items]
Long-term debt, amount outstanding	490,600,000
Term loans \| Credit Agreement \| Maximum
Debt Instrument [Line Items]
Senior secured net leverage ratio			3.75
Interest coverage ratio			3.00
Secured Debt \| Line of Credit \| Refinance Amendment
Debt Instrument [Line Items]
Debt instrument, face amount			$ 500,000,000
Letter of Credit \| Line of Credit \| Refinance Amendment
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			35,000,000
Bridge Loan \| Line of Credit \| Refinance Amendment
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 20,000,000
Overdraft Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.25%
Line of credit facility, amount available	75,000,000
Amount outstanding on overdraft facility	$ 0			$ 0

Revenue - Schedule of Changes in Deferred Revenue (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Deferred revenue, beginning balance	$ 84,360
Deferral of revenue	40,479
Recognition of deferred revenue	(26,683)
Foreign currency translation	(892)
Deferred revenue, ending balance	$ 97,264

Stock-Based Compensation Plans - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period (in shares)	0	0
Stock-based compensation expense	$ 8,099	$ 5,301
Stock-based compensation expense, tax benefits	1,400	900
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive plan, total intrinsic value of stock options exercised (less than)	$ 300	$ 100
Total Shareholder Return Awards (TSRs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shareholder return multiplier	20.00%
Performance shares maximum target	200.00%
Issued in period (in shares)	0
Granted (in shares)	561,471	0
Unrecognized compensation costs	$ 25,100
Unrecognized compensation costs, weighted average recognition period	2 years 4 months 24 days
Total Shareholder Return Awards (TSRs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting performance period	1 year
Total Shareholder Return Awards (TSRs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting performance period	3 years
Restricted Share Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	1,242,902
Number of shares vested (in shares)	292,250
Shares withheld to pay employees' portion of minimum payroll withholding taxes (in shares)	104,573
Unrecognized compensation costs	$ 65,300
Unrecognized compensation costs, weighted average recognition period	2 years 6 months
2017 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued under ESPP (in shares)	27,550	31,639

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended March 31, 2024, the Company's effective tax rate was negative 4%. The Company reported a tax charge on an overall pretax loss, with foreign entities reporting losses of $11.1 million. The effective tax rate for the three months ended March 31, 2024, was negatively impacted by excess tax limitations on stock-based compensation expense. For the three months ended March 31, 2023, the Company's effective tax rate was 25%. The Company's foreign entities reported losses of $7.2 million for the three months ended March 31, 2023. The Company’s effective tax rate could fluctuate on a quarterly basis due to the occurrence of significant and unusual or infrequent items, such as vesting of stock-based compensation or foreign currency gains and losses. The Company’s effective tax rate could also fluctuate due to changes in the valuation of its deferred tax assets or liabilities, or by changes in tax laws, regulations, accounting principles, or interpretations thereof. In addition, the Company is occasionally subject to examination of its income tax returns by tax authorities in the jurisdictions it operates. The Company regularly assesses the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of its provision for income taxes. The Organization for Economic Co-operation and Development Inclusive Framework on Base Erosion and Profit Shifting released Pillar Two Model Rules (“Pillar Two”) for a global minimum tax. Many countries have enacted certain aspects of the Pillar Two framework with effective dates in 2024. Entities operating in countries where Pillar Two has been enacted are required to estimate Pillar Two top-up tax obligations beginning in the first quarter of 2024. For the three months ended March 31, 2024, the Company did not have material Pillar Two top-up tax obligations impacting the Company’s estimated annual effective tax rate. The Company will continue to evaluate the impact of proposed and enacted legislation as new guidance becomes available. As of March 31, 2024, and December 31, 2023, the amount of unrecognized tax benefits for uncertain tax positions was $20.9 million, excluding related liabilities for interest and penalties of $0.5 million. The Company believes it is reasonably possible that the total amount of unrecognized tax benefits will decrease within the next 12 months by approximately $2.2 million, due to the settlement of various audits and the expiration of statutes of limitation.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Revenues

Revenues

$ 316,019

$ 289,676

Operating expenses

Cost of revenue

^[1]

191,107

178,554

Research and development

34,993

37,118

Selling and marketing

26,750

35,435

General and administrative

26,000

31,382

Depreciation and amortization

27,609

31,539

Total operating expenses

306,459

314,028

Operating income (loss)

9,560

(24,352)

Other income (expense)

Interest expense

(19,010)

(18,892)

Interest income

4,009

3,505

Other, net

(2,025)

(3,395)

Total other income (expense)

(17,026)

(18,782)

Loss before income taxes

(7,466)

(43,134)

Income tax expense (benefit)

285

(10,826)

Net loss

$ (7,751)

$ (32,308)

Loss per common share

Basic (in dollars per share)

$ (0.07)

$ (0.30)

Diluted (in dollars per share)

$ (0.07)

$ (0.30)

Weighted average common shares outstanding

Basic (in shares)

106,799

108,156

Diluted (in shares)

106,799

108,156

Software as a service and platform as a service

Revenues

Revenues

$ 215,732

$ 204,930

License

Revenues

Revenues

29,973

18,331

Maintenance

Revenues

Revenues

47,754

50,103

Services

Revenues

Revenues

$ 22,560

$ 16,312

[1]	The cost of revenue excludes charges for depreciation and amortization.

Stock-Based Compensation Plans - Schedule of Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Number of Shares
Beginning balance (in shares) \| shares	873,512
Exercised (in shares) \| shares	(25,513)
Ending balance (in shares) \| shares	847,999
Exercisable, ending balance (in shares) \| shares	847,999
Weighted Average Exercise Price
Beginning balance (in dollars per share) \| $ / shares	$ 18.76
Exercised (in dollars per share) \| $ / shares	18.62
Ending balance (in dollars per share) \| $ / shares	18.76
Exercisable, ending balance (in dollars per share) \| $ / shares	$ 18.76
Weighted Average Remaining Contractual Term (Years)
Outstanding, end of period (in years)	1 year 9 months 3 days
Exercisable, end of period (in years)	1 year 9 months 3 days
Aggregate Intrinsic Value of In-the-Money Options
Outstanding, end of period \| $	$ 10,040,262
Exercisable, end of period \| $	$ 10,040,262

Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Basic earnings (loss) per share is computed in accordance with ASC 260, Earnings Per Share, based on weighted average outstanding common shares. Diluted earnings (loss) per share is computed based on basic weighted average outstanding common shares adjusted for the dilutive effect of stock options, RSUs, and certain contingently issuable shares for which performance targets have been achieved.

The following table reconciles the weighted average share amounts used to compute both basic and diluted loss per share (in thousands):


	Three Months Ended March 31,
		2024	2023
Weighted average shares outstanding:
Basic weighted average shares outstanding		106,799	108,156
Add: Dilutive effect of stock options and RSUs		—	—
Diluted weighted average shares outstanding		106,799	108,156

The diluted loss per share computation excludes 4.4 million and 2.5 million options to purchase shares, RSUs, and contingently issuable shares during the three months ended March 31, 2024 and 2023, respectively, as their effect would be anti-dilutive.

Common stock outstanding as of March 31, 2024, and December 31, 2023, was 106,257,982 and 108,077,738, respectively.

Software and Other Intangible Assets - Schedule of Carrying Amount and Accumulated Amortization of Software Assets and Other Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Total	$ 186,782	$ 195,646
Software for internal use
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	481,471	469,325
Accumulated Amortization	(369,103)	(360,907)
Total	112,368	108,418
Total other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	468,017	469,553
Accumulated Amortization	(281,235)	(273,907)
Total	186,782	195,646
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	446,207	447,654
Accumulated Amortization	(259,698)	(252,828)
Total	186,509	194,826
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	21,810	21,899
Accumulated Amortization	(21,537)	(21,079)
Total	$ 273	$ 820

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical)	3 Months Ended
	Mar. 31, 2024 shares
Statement of Stockholders' Equity [Abstract]
Repurchase of common stock (in shares)	2,060,433

Earnings (Loss) Per Share - Narrative (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from earnings (loss) per share, options to purchase shares and RSUs (in shares)	4,400,000	2,500,000
Common stock outstanding (in shares)	106,257,982		108,077,738

Condensed Consolidated Financial Statements (Tables)

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Components of Other Current Liabilities

The components of other current liabilities are included in the following table (in thousands):


	March 31, 2024		December 31, 2023
Vendor financed licenses	$	13,698	$	12,702
Operating lease liabilities	9,538		9,348
Accrued interest	3,337		9,172
Other	39,191		51,022
Total other current liabilities	$	65,764	$	82,244

Condensed Consolidated Financial Statements - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended
	Jul. 31, 2019	Mar. 31, 2024	Dec. 31, 2023
Condensed Financial Statements, Captions [Line Items]
Amount of off balance sheet settlement funds		$ 173,400	$ 273,200
Goodwill		1,226,026	1,226,026
Banks
Condensed Financial Statements, Captions [Line Items]
Goodwill		671,700
Merchants
Condensed Financial Statements, Captions [Line Items]
Goodwill		137,300
Billers
Condensed Financial Statements, Captions [Line Items]
Goodwill		417,000
India Payment Technology and Services Company
Condensed Financial Statements, Captions [Line Items]
Payments to acquire investment interest	$ 18,300
Percentage of voting interests acquired	30.00%
India Payment Technology and Services Company \| Other Noncurrent Assets
Condensed Financial Statements, Captions [Line Items]
Equity method investment, amount recorded		$ 18,300	18,500
Level 2 \| Senior Notes \| 5.750% Senior Notes due 2026
Condensed Financial Statements, Captions [Line Items]
Stated interest rate (as a percent)		5.75%
Fair value of long-term debt		$ 394,000	$ 398,500

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Condensed Consolidated Financial Statements

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidated Financial Statements

The unaudited condensed consolidated financial statements include the accounts of ACI Worldwide, Inc. and its wholly-owned subsidiaries (collectively, the “Company”). All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements as of March 31, 2024, and for the three months ended March 31, 2024 and 2023, are unaudited and reflect all adjustments of a normal recurring nature, which are, in the opinion of management, necessary for a fair presentation, in all material respects, of the financial position and operating results for the interim periods. The condensed consolidated balance sheet as of December 31, 2023, is derived from the audited financial statements.

The condensed consolidated financial statements contained herein should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2023, filed on February 29, 2024. Results for the three months ended March 31, 2024, are not necessarily indicative of results that may be attained in the future.

The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make judgments, estimates, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and assumptions are affected by management’s application of accounting policies, as well as uncertainty in the current economic environment. Actual results could differ from those estimates.

Other Current Liabilities

The components of other current liabilities are included in the following table (in thousands):


	March 31, 2024		December 31, 2023
Vendor financed licenses	$	13,698	$	12,702
Operating lease liabilities	9,538		9,348
Accrued interest	3,337		9,172
Other	39,191		51,022
Total other current liabilities	$	65,764	$	82,244

Settlement Assets and Liabilities

Individuals and businesses settle their obligations to the Company’s various Biller clients using credit or debit cards or via automated clearing house (“ACH”) payments. The Company creates a receivable for the amount due from the credit or debit card processor and an offsetting payable to the client. Upon confirmation that the funds have been received, the Company settles the obligation to the client. Due to timing, in some instances, the Company may (1) receive the funds into bank accounts controlled by and in the Company’s name that are not disbursed to its clients by the end of the day, resulting in a settlement deposit on the Company’s books and (2) disburse funds to its clients in advance of receiving funds from the credit or debit card processor, resulting in a net settlement receivable position.

Off Balance Sheet Settlement Accounts

The Company also enters into agreements with certain Biller clients to process payment funds on their behalf. When an ACH or automated teller machine network payment transaction is processed, a transaction is initiated to withdraw funds from the designated source account and deposit them into a settlement account, which is a trust account maintained for the benefit of the Company’s clients. A simultaneous transaction is initiated to transfer funds from the settlement account to the intended destination account. These “back to back” transactions are designed to settle at the same time, usually overnight, such that the Company receives the funds from the source at the same time as it sends the funds to their destination. However, due to the transactions being with various financial institutions there may be timing differences that result in float balances. These funds are maintained in accounts for the benefit of the client which is separate from the Company’s corporate assets. As the Company does not take ownership of the funds, these settlement accounts are not included in the Company’s balance sheet. The Company is entitled to interest earned on the fund balances. The collection of interest on these settlement accounts is considered in the Company’s determination of its fee structure for clients and represents a portion of the payment for services performed by the

Company. The amount of settlement funds as of March 31, 2024, and December 31, 2023, was $173.4 million and $273.2 million, respectively.

Fair Value

The fair value of the Company’s Credit Agreement approximates the carrying value due to the floating interest rate (Level 2 of the fair value hierarchy). The Company measures the fair value of its Senior Notes based on Level 2 inputs, which include quoted market prices and interest rate spreads of similar securities. The fair value of the Company’s 5.750% Senior Notes due 2026 (“2026 Notes”) was $394.0 million and $398.5 million as of March 31, 2024, and December 31, 2023, respectively.

The fair values of cash and cash equivalents approximate the carrying values due to the short period of time to maturity (Level 2 of the fair value hierarchy).

Goodwill

In accordance with the Accounting Standards Codification ("ASC") 350, Intangibles – Goodwill and Other, the Company assesses goodwill for impairment annually during the fourth quarter of its fiscal year using October 1 balances or when there is evidence that events or changes in circumstances indicate that the carrying amount of the asset may not be recovered. The Company evaluates goodwill at the reporting unit level and has identified its operating segments, Banks, Merchants, and Billers, as the reporting units. As of March 31, 2024, the Company's goodwill balance of $1.2 billion was allocated $671.7 million to Banks, $137.3 million to Merchants, and $417.0 million to Billers.

Recoverability of goodwill is measured using a discounted cash flow model incorporating discount rates commensurate with the risks involved. Use of a discounted cash flow model is common practice in impairment testing in the absence of available transactional market evidence to determine the fair value. The calculated fair value was substantially in excess of the current carrying value for all reporting units based upon the October 1, 2023, annual impairment test and there have been no indications of impairment in the subsequent periods.

Equity Method Investment

In July 2019, the Company invested $18.3 million for a 30% non-controlling financial interest in a payment technology and services company in India. The Company accounted for this investment using the equity method in accordance with ASC 323, Investments - Equity Method and Joint Ventures. The Company records its share of earnings and losses in the investment on a one-quarter lag basis. Accordingly, the Company recorded an investment of $18.3 million and $18.5 million, which is included in other noncurrent assets in the condensed consolidated balance sheet as of March 31, 2024, and December 31, 2023, respectively.

Recently Issued Accounting Standards Not Yet Effective

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 and interim periods beginning after December 15, 2024, and early application is permitted. The Company is currently assessing the impact the adoption of ASU 2023-07 will have on its segment reporting disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this update will require disclosure of more disaggregated information about a reporting entity's effective tax rate reconciliation and income taxes paid. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, and early application is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company is currently assessing the impact the adoption of ASU 2023-09 will have on its income tax disclosures.

Other, Net	3 Months Ended
Other, Net	Mar. 31, 2024
Other Income and Expenses [Abstract]
Other, Net	Other, NetOther, net is primarily comprised of foreign currency transaction gains and losses. Other, net was $2.0 million and $3.4 million of expense for the three months ended March 31, 2024 and 2023, respectively.

Revenue (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Total Receivables, Net

Total receivables, net is comprised of the following (in thousands):


	March 31, 2024		December 31, 2023
Billed receivables	$	143,851	$	250,423
Allowance for doubtful accounts	(2,581)		(4,295)
Billed receivables, net	141,270		246,128
Current accrued receivables, net	203,855		206,209
Long-term accrued receivables, net	290,186		313,983
Total accrued receivables, net	494,041		520,192
Total receivables, net	$	635,311	$	766,320

Schedule of Changes in Deferred Revenue

Changes in deferred revenue were as follows (in thousands):


Balance, December 31, 2023	$	84,360
Deferral of revenue	40,479
Recognition of deferred revenue	(26,683)
Foreign currency translation	(892)
Balance, March 31, 2024	$	97,264

Software and Other Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Software and Other Intangible Assets

The carrying amount and accumulated amortization of the Company's software assets subject to amortization at each balance sheet date are as follows (in thousands):


	March 31, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Balance		Gross Carrying Amount		Accumulated Amortization		Net Balance
Software for internal use	$	481,471	$	(369,103)	$	112,368	$	469,325	$	(360,907)	$	108,418

Amortization of software for internal use is computed using the straight-line method over an estimated useful life of generally three to eight years. Software for internal use amortization expense recorded during the three months ended March 31, 2024 and 2023, totaled $15.5 million and $17.0 million, respectively. These software amortization expense amounts are reflected in depreciation and amortization in the condensed consolidated statements of operations.

The carrying amount and accumulated amortization of the Company’s other intangible assets subject to amortization at each balance sheet date are as follows (in thousands):


	March 31, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Balance		Gross Carrying Amount		Accumulated Amortization		Net Balance
Customer relationships	$	446,207	$	(259,698)	$	186,509	$	447,654	$	(252,828)	$	194,826
Trademarks and trade names	21,810		(21,537)		273		21,899		(21,079)		820
Total other intangible assets	$	468,017	$	(281,235)	$	186,782	$	469,553	$	(273,907)	$	195,646

Other intangible assets amortization expense recorded during the three months ended March 31, 2024 and 2023, totaled $8.5 million and $8.4 million, respectively.

Based on capitalized intangible assets as of March 31, 2024, estimated amortization expense amounts in future fiscal years are as follows (in thousands):


Fiscal Year Ending December 31,	Software Amortization		Other Intangible Assets Amortization
Remainder of 2024	$	44,011	$	20,980
2025	41,082		20,989
2026	20,922		20,989
2027	4,842		20,711
2028	1,509		18,309
Thereafter	2		84,804
Total	$	112,368	$	186,782

Stock-Based Compensation Plans - Schedule of Nonvested Restricted Share Unit Awards (Details) - Restricted Share Units (RSUs)	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Number of Shares
Nonvested, beginning balance (in shares) \| shares	1,574,883
Granted (in shares) \| shares	1,242,902
Vested (in shares) \| shares	(292,250)
Forfeited (in shares) \| shares	(31,893)
Nonvested, ending balance (in shares) \| shares	2,493,642
Weighted Average Grant Date Fair Value
Nonvested, beginning balance (in dollars per share) \| $ / shares	$ 26.81
Granted (in dollars per share) \| $ / shares	31.94
Vested (in dollars per share) \| $ / shares	31.32
Forfeited (in dollars per share) \| $ / shares	26.90
Nonvested, ending balance (in dollars per share) \| $ / shares	$ 28.84

Software and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Other intangible assets amortization expense	$ 8.5	$ 8.4
Software for internal use
Finite-Lived Intangible Assets [Line Items]
Software, amortization expense	$ 15.5	$ 17.0
Minimum \| Software for internal use
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)	3 years
Maximum \| Software for internal use
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)	8 years

Earnings (Loss) Per Share - Schedule of Reconciliation of Weighted Average Share Amounts Used to Compute Basic and Diluted Loss Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Weighted average shares outstanding:
Basic weighted average shares outstanding (in shares)	106,799	108,156
Add: Dilutive effect of stock options and RSUs (in shares)	0	0
Diluted weighted average shares outstanding (in shares)	106,799	108,156

Condensed Consolidated Financial Statements - Schedule of Components of Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Other Current Liabilities
Vendor financed licenses	$ 9,538	$ 12,702
Operating lease liabilities	13,698	9,348
Accrued interest	3,337	9,172
Other	39,191	51,022
Total other current liabilities	$ 65,764	$ 82,244

Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Maturities on Debt Outstanding

Maturities on debt outstanding as of March 31, 2024, are as follows (in thousands):


Fiscal Year Ending December 31,
Remainder of 2024	$	28,125
2025	37,500
2026	437,500
2027	37,500
2028	37,500
Thereafter	448,500
Total	$	1,026,625

Schedule of Total Debt

Total debt is comprised of the following (in thousands):


	March 31, 2024		December 31, 2023
Term loans	$	490,625	$	519,698
Revolving credit facility	136,000		124,000
5.750% Senior notes, due August 2026	400,000		400,000
Debt issuance costs	(9,899)		(5,694)
Total debt	1,016,726		1,038,004
Less: current portion of term loans	37,500		77,900
Less: current portion of debt issuance costs	(2,625)		(3,495)
Total long-term debt	$	981,851	$	963,599

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Condensed Consolidated Financial Statements (Policies)	3 Months Ended
Condensed Consolidated Financial Statements (Policies)	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The unaudited condensed consolidated financial statements include the accounts of ACI Worldwide, Inc. and its wholly-owned subsidiaries (collectively, the “Company”). All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements as of March 31, 2024, and for the three months ended March 31, 2024 and 2023, are unaudited and reflect all adjustments of a normal recurring nature, which are, in the opinion of management, necessary for a fair presentation, in all material respects, of the financial position and operating results for the interim periods. The condensed consolidated balance sheet as of December 31, 2023, is derived from the audited financial statements. The condensed consolidated financial statements contained herein should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2023, filed on February 29, 2024. Results for the three months ended March 31, 2024, are not necessarily indicative of results that may be attained in the future.
Use of Estimates	The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make judgments, estimates, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and assumptions are affected by management’s application of accounting policies, as well as uncertainty in the current economic environment. Actual results could differ from those estimates.
Settlement Assets and Liabilities	Settlement Assets and Liabilities Individuals and businesses settle their obligations to the Company’s various Biller clients using credit or debit cards or via automated clearing house (“ACH”) payments. The Company creates a receivable for the amount due from the credit or debit card processor and an offsetting payable to the client. Upon confirmation that the funds have been received, the Company settles the obligation to the client. Due to timing, in some instances, the Company may (1) receive the funds into bank accounts controlled by and in the Company’s name that are not disbursed to its clients by the end of the day, resulting in a settlement deposit on the Company’s books and (2) disburse funds to its clients in advance of receiving funds from the credit or debit card processor, resulting in a net settlement receivable position.
Off Balance Sheet Settlement Accounts	Off Balance Sheet Settlement Accounts The Company also enters into agreements with certain Biller clients to process payment funds on their behalf. When an ACH or automated teller machine network payment transaction is processed, a transaction is initiated to withdraw funds from the designated source account and deposit them into a settlement account, which is a trust account maintained for the benefit of the Company’s clients. A simultaneous transaction is initiated to transfer funds from the settlement account to the intended destination account. These “back to back” transactions are designed to settle at the same time, usually overnight, such that the Company receives the funds from the source at the same time as it sends the funds to their destination. However, due to the transactions being with various financial institutions there may be timing differences that result in float balances. These funds are maintained in accounts for the benefit of the client which is separate from the Company’s corporate assets. As the Company does not take ownership of the funds, these settlement accounts are not included in the Company’s balance sheet. The Company is entitled to interest earned on the fund balances. The collection of interest on these settlement accounts is considered in the Company’s determination of its fee structure for clients and represents a portion of the payment for services performed by the Company.
Fair Value	Fair Value The fair value of the Company’s Credit Agreement approximates the carrying value due to the floating interest rate (Level 2 of the fair value hierarchy). The Company measures the fair value of its Senior Notes based on Level 2 inputs, which include quoted market prices and interest rate spreads of similar securities.
Goodwill	Goodwill In accordance with the Accounting Standards Codification ("ASC") 350, Intangibles – Goodwill and Other, the Company assesses goodwill for impairment annually during the fourth quarter of its fiscal year using October 1 balances or when there is evidence that events or changes in circumstances indicate that the carrying amount of the asset may not be recovered. The Company evaluates goodwill at the reporting unit level and has identified its operating segments, Banks, Merchants, and Billers, as the reporting units. As of March 31, 2024, the Company's goodwill balance of $1.2 billion was allocated $671.7 million to Banks, $137.3 million to Merchants, and $417.0 million to Billers. Recoverability of goodwill is measured using a discounted cash flow model incorporating discount rates commensurate with the risks involved. Use of a discounted cash flow model is common practice in impairment testing in the absence of available transactional market evidence to determine the fair value. The calculated fair value was substantially in excess of the current carrying value for all reporting units based upon the October 1, 2023, annual impairment test and there have been no indications of impairment in the subsequent periods.
Equity Method Investment	Equity Method Investment In July 2019, the Company invested $18.3 million for a 30% non-controlling financial interest in a payment technology and services company in India. The Company accounted for this investment using the equity method in accordance with ASC 323, Investments - Equity Method and Joint Ventures. The Company records its share of earnings and losses in the investment on a one-quarter lag basis. Accordingly, the Company recorded an investment of $18.3 million and $18.5 million, which is included in other noncurrent assets in the condensed consolidated balance sheet as of March 31, 2024, and December 31, 2023, respectively.
Recently Issued Accounting Standards Not Yet Effective	Recently Issued Accounting Standards Not Yet Effective In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 and interim periods beginning after December 15, 2024, and early application is permitted. The Company is currently assessing the impact the adoption of ASU 2023-07 will have on its segment reporting disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this update will require disclosure of more disaggregated information about a reporting entity's effective tax rate reconciliation and income taxes paid. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, and early application is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company is currently assessing the impact the adoption of ASU 2023-09 will have on its income tax disclosures.
Earnings (Loss) Per Share	Basic earnings (loss) per share is computed in accordance with ASC 260, Earnings Per Share, based on weighted average outstanding common shares. Diluted earnings (loss) per share is computed based on basic weighted average outstanding common shares adjusted for the dilutive effect of stock options, RSUs, and certain contingently issuable shares for which performance targets have been achieved.
Segment Reporting	The Company reports financial performance based on its operating segments, Banks, Merchants, and Billers, and analyzes Segment Adjusted EBITDA as a measure of segment profitability. The Company’s Chief Executive Officer is also the chief operating decision maker ("CODM"). The CODM, together with other senior management personnel, focus their review on consolidated financial information and the allocation of resources based on operating results, including revenues and Segment Adjusted EBITDA, for each segment, separate from corporate operations. No operating segments have been aggregated to form the reportable segments. Banks. ACI provides payment solutions to large and mid-size banks globally for retail banking, real time, digital, and other payment services. These solutions transform banks’ complex payment environments to speed time to market, reduce costs, and deliver a consistent experience to customers across channels while enabling them to prevent and rapidly react to fraudulent activity. In addition, they enable banks to meet the requirements of different real-time payments schemes and to quickly create differentiated products to meet consumer, business, and merchant demands. Merchants. ACI’s support of merchants globally includes Tier 1 and Tier 2 merchants, online-only merchants and the payment service providers, independent selling organizations, value-added resellers, and acquirers who service them. These customers operate in a variety of verticals, including general merchandise, grocery, hospitality, dining, transportation, and others. The Company's solutions provide merchants with a secure, omni-channel payments platform that gives them independence from third-party payment providers. They also offer secure solutions to online-only merchants that provide consumers with a convenient and seamless way to shop. Billers. Within the billers segment, ACI provides electronic bill presentment and payment (“EBPP”) services to companies operating in the consumer finance, insurance, healthcare, higher education, utility, government, and mortgage categories. The solutions enable these customers to support a wide range of payment options and provide a convenient consumer payments experience that drives consumer loyalty and increases revenue. Revenue is attributed to the reportable segments based upon customer. Expenses are attributed to the reportable segments in one of three methods: (1) direct costs of the segment, (2) labor costs that can be attributed based upon time tracking for individual projects, or (3) costs that are allocated. Allocated costs are generally marketing and sales related activities. Segment Adjusted EBITDA is the measure reported to the CODM for purposes of making decisions on allocating resources and assessing the performance of the Company’s segments, and, therefore, Segment Adjusted EBITDA is presented in conformity with ASC 280, Segment Reporting. Segment Adjusted EBITDA is defined as earnings (loss) from operations before interest, income tax expense (benefit), depreciation and amortization (“EBITDA”) adjusted to exclude net other income (expense). Corporate and unallocated expenses includes global facilities and information technology costs and long-term product roadmap expenses in addition to corporate overhead costs that are not allocated to reportable segments. The overhead costs relate to human resources, finance, legal, accounting, and merger and acquisition activity. These costs along with depreciation and amortization and stock-based compensation are not considered when management evaluates segment performance.

Stock-Based Compensation Plans

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Plans

Employee Stock Purchase Plan

Shares issued under the 2017 Employee Stock Purchase Plan during the three months ended March 31, 2024 and 2023, totaled 27,550 and 31,639, respectively.

Stock Options

A summary of stock option activity is as follows:


	Number of Shares	Weighted Average Exercise Price ($)		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value of In-the-Money Options ($)
Outstanding as of December 31, 2023	873,512	$	18.76
Exercised	(25,513)	18.62


Outstanding as of March 31, 2024	847,999	$	18.76	1.76	$	10,040,262
Exercisable as of March 31, 2024	847,999	$	18.76	1.76	$	10,040,262

The total intrinsic value of stock options exercised during the three months ended March 31, 2024 and 2023, was $0.3 million and less than $0.1 million, respectively. There were no stock options granted during the three months ended March 31, 2024 or 2023.

Performance Share Awards

During the three months ended March 31, 2024, pursuant to the Company's 2020 Equity and Incentive Compensation Plan, the Company granted performance share awards with a total shareholder return component ("TSRs"). These performance share awards are earned, if at all, based upon achievement, over a specified period that must not be less than one year and is typically a three-year performance period. The awards have operating performance goals that include (i) adjusted EBITDA metrics and (ii) revenue growth rates as determined by the Company with a TSR multiplier up to plus or minus 20%. Up to 200% of the performance shares could be earned upon achievement of the performance goals, including the multiplier. On a quarterly basis, management evaluates the probability that the threshold performance goals will be achieved, if at all, and the anticipated level of attainment to determine the amount of compensation expense to record in the consolidated financial statements.

A summary of nonvested TSRs is as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
Nonvested as of December 31, 2023	673,126	$	40.73
Granted	561,471	34.00

Forfeited	(8,304)	37.01
Change in payout rate	(203,945)	50.60
Nonvested as of March 31, 2024	1,022,348	$	35.10

As of March 31, 2024, the TSRs granted in 2021 were earned by the employees. However, the performance goals were not met and no shares were issued.

The fair value of TSRs granted during the three months ended March 31, 2024, were estimated on the date of grant using the Monte Carlo simulation model, acceptable under ASC 718, Compensation - Stock Compensation, using the following weighted average assumptions:



	Three Months Ended March 31, 2024
Expected life (years)	2.7
Risk-free interest rate	4.4	%
Expected volatility	36.8	%
Expected dividend yield	—

There were no TSRs granted during the three months ended March 31, 2023.

Restricted Share Units

A summary of nonvested restricted share unit awards ("RSUs") is as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
Nonvested as of December 31, 2023	1,574,883	$	26.81
Granted	1,242,902	31.94
Vested	(292,250)	31.32
Forfeited	(31,893)	26.90
Nonvested as of March 31, 2024	2,493,642	$	28.84

During the three months ended March 31, 2024, a total of 292,250 RSUs vested. The Company withheld 104,573 of those shares to pay the employees’ portion of the minimum payroll withholding taxes.

As of March 31, 2024, there was unrecognized compensation expense of $65.3 million related to RSUs and $25.1 million related to TSRs, which the Company expects to recognize over a weighted average period of 2.5 years and 2.4 years, respectively.

The Company recorded stock-based compensation expense recognized under ASC 718 for the three months ended March 31, 2024 and 2023, of $8.1 million and $5.3 million, respectively, with corresponding tax benefits of $1.4 million and $0.9 million, respectively.

Stock-Based Compensation Plans - Schedule of Nonvested Total Shareholder Return Awards (Details) - Total Shareholder Return Awards (TSRs) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Number of Shares
Nonvested, beginning balance (in shares)	673,126
Granted (in shares)	561,471	0
Forfeited (in shares)	(8,304)
Change in payout rate (in shares)	(203,945)
Nonvested, ending balance (in shares)	1,022,348
Weighted Average Grant Date Fair Value
Nonvested, beginning balance (in dollars per share)	$ 40.73
Granted (in dollars per share)	34.00
Forfeited (in dollars per share)	37.01
Change in payout rate (in dollars per share)	50.60
Nonvested, ending balance (in dollars per share)	$ 35.10

Revenue - Narrative (Details) $ in Millions	Mar. 31, 2024 USD ($)
Deferred Revenue Arrangement [Line Items]
Revenue allocated to remaining performance obligations	$ 672.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Deferred Revenue Arrangement [Line Items]
Revenue allocated to remaining performance obligations, percentage to be recognized	49.00%
Timing of revenue to be collected	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Deferred Revenue Arrangement [Line Items]
Timing of revenue to be collected

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net loss	$ (7,751)	$ (32,308)
Adjustments to reconcile net loss to net cash flows from operating activities:
Depreciation	3,631	6,131
Amortization	23,978	25,408
Amortization of operating lease right-of-use assets	2,568	2,767
Amortization of deferred debt issuance costs	936	1,115
Deferred income taxes	1,006	(10,382)
Stock-based compensation expense	8,099	5,301
Other	(1,311)	(290)
Changes in operating assets and liabilities:
Receivables	127,269	88,960
Accounts payable	(448)	(1,308)
Accrued employee compensation	(26,453)	(15,593)
Deferred revenue	13,907	10,202
Other current and noncurrent assets and liabilities	(22,190)	(39,935)
Net cash flows from operating activities	123,241	40,068
Cash flows from investing activities:
Purchases of property and equipment	(3,208)	(2,258)
Purchases of software and distribution rights	(14,582)	(6,481)
Net cash flows from investing activities	(17,790)	(8,739)
Cash flows from financing activities:
Proceeds from issuance of common stock	693	707
Proceeds from exercises of stock options	475	78
Repurchase of stock-based compensation awards for tax withholdings	(3,302)	(3,001)
Repurchases of common stock	(62,515)	0
Proceeds from revolving credit facility	164,000	50,000
Repayment of revolving credit facility	(152,000)	(45,000)
Proceeds from term portion of credit agreement	500,000	0
Repayment of term portion of credit agreement	(529,073)	(14,606)
Payments for debt issuance costs	(5,141)	0
Payments on or proceeds from other debt, net	(2,694)	(5,670)
Net decrease in settlement assets and liabilities	(18,933)	(2,834)
Net cash flows from financing activities	(108,490)	(20,326)
Effect of exchange rate fluctuations on cash	2,314	2,557
Net increase (decrease) in cash and cash equivalents	(725)	13,560
Cash and cash equivalents, including settlement deposits, beginning of period	238,821	214,672
Cash and cash equivalents, including settlement deposits, end of period	238,096	228,232
Cash and cash equivalents	183,393	142,412
Settlement deposits	54,703	85,820
Total cash and cash equivalents, including settlement deposits	238,096	228,232
Supplemental cash flow information
Income taxes paid	2,524	17,268
Interest paid	$ 24,081	$ 23,403

Debt

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Debt

As of March 31, 2024, the Company had $136.0 million, $490.6 million, and $400.0 million outstanding under its Revolving Credit Facility, Term Loans, and Senior Notes, respectively, with up to $461.9 million of unused borrowings under the Revolving Credit Facility portion of the Credit Agreement, as amended, and up to $2.1 million of unused borrowings under Letter of Credit agreements. The amount of unused borrowings actually available varies in accordance with the terms of the agreement.

Credit Agreement

On February 26, 2024, ACI Worldwide, Inc. (the “Company”) entered into a Refinance Amendment (the “Amendment”) to the Second Amended and Restated Credit Agreement, dated as of April 5, 2019 (as amended, restated, supplemented or otherwise modified from time to time, including by the Amendment, the “Credit Agreement”) among the Company, the subsidiary borrowers from time to time party thereto, the lenders from time to time party thereto, Bank of America, N.A., as administrative agent and a lender, BofA Securities, Inc., PNC Capital Markets LLC, Wells Fargo Securities, LLC, and TD Securities (USA) LLC, as Joint Lead Arrangers and Joint Bookrunners, and the other financial institutions party thereto.

The Amendment (i) provides a senior secured term loan facility (the “Term Loan Facility”) in an aggregate principal amount of $500 million, (ii) provides a senior secured revolving credit facility (the “Revolving Loan Facility” and together with the Term Loan Facility, the “Credit Facilities”) of up to $600 million, and (iii) extends the maturity date of the Facilities to February 26, 2029 (the “Maturity Date”), provided that if any of the Company’s 5.750% Senior Notes due 2026 are outstanding on the date that is 91 days before the maturity thereof (the “Springing Maturity Date”), and the Company does not have sufficient liquidity as of such date, the Maturity Date will be the Springing Maturity Date. The Revolving Loan Facility includes a $35 million sublimit for the issuance of standby letters of credit and a $20 million sublimit for swingline loans. Amounts repaid under the Revolving Facility may be reborrowed.

Borrowings under the Credit Facilities bear interest at a rate equal to, at borrower's option, either (A) a base rate determined by reference to the highest of (1) the rate of interest per annum publicly announced by Bank of America as its prime rate, (2) the federal funds effective rate plus 0.5%, (3) term SOFR plus 1%, and (4) 1% or (B) term SOFR for applicable interest period relevant to such borrowing, in each case plus an applicable margin. The applicable margin for borrowings under the Credit Facilities is, based on the calculation of the applicable consolidated total leverage ratio, between 0.5% to 1.5% with respect to base rate borrowings and between 1.5% and 2.5% with respect to term SOFR rate borrowings. Interest is due and payable monthly. The interest rate in effect for the Credit Facility as of March 31, 2024, was 7.43%.

The Company is also required to pay (a) a commitment fee related to the unutilized commitments under the Revolving Credit Facility, payable quarterly in arrears, (b) letter of credit fees on the maximum amount available to be drawn under all outstanding letters of credit in an amount equal to the applicable margin on SOFR rate borrowings under the Revolving Credit Facility on an annual basis, payable quarterly in arrears, and (c) customary fronting fees for the issuance of letters of credit fees and agency fees.

The Company’s subsidiaries, ACI Worldwide Corp. and ACI Payments, Inc. are co-borrowers under the Credit Agreement. The obligations of the borrowers under the Credit Facilities and the obligations of the Company and its subsidiaries under cash management arrangements entered into with lenders under the Credit Facilities (or affiliates thereof) are jointly and severally guaranteed by the Company and all of its existing and future material domestic subsidiaries, subject to certain exclusions. The obligations of the borrowers in respect of the Credit Facilities are secured by first-priority security interests in substantially all assets of the borrowers, including 100% of the capital stock of each domestic subsidiary of the borrower and 65% of the voting capital stock of each foreign subsidiary that is directly owned by a borrower, in each case subject to certain exclusions set forth in the Credit Agreement.

The Credit Agreement contains customary negative covenants that, among other things, restrict the Company’s ability to incur additional indebtedness, grant additional liens, and make certain acquisitions, investments, asset dispositions, and restricted payments. In addition, the Credit Agreement contains financial covenants that require the Company to maintain, as of the end of any fiscal quarter, (i) a consolidated total net leverage ratio of less than or equal to 4.25 to 1.00, (ii) a consolidated senior secured net leverage ratio of less than or equal to 3.75 to 1.00, and (iii) a minimum consolidated interest coverage ratio of greater than or equal to 3.00 to 1.00, in each case subject to certain exclusions as set forth in the Credit Agreement.

The Credit Agreement also contains certain customary affirmative covenants and events of default. If an event of default, as specified in the Credit Agreement, shall occur and be continuing, the Company may be required to repay all amounts outstanding under the Credit Facilities.

Senior Notes

On August 21, 2018, the Company completed a $400.0 million offering of the 2026 Notes at an issue price of 100% of the principal amount in a private placement for resale to qualified institutional buyers. The 2026 Notes bear interest at an annual rate of 5.750%, payable semi-annually in arrears on February 15 and August 15 of each year. The 2026 Notes will mature on August 15, 2026.

Maturities on debt outstanding as of March 31, 2024, are as follows (in thousands):


Fiscal Year Ending December 31,
Remainder of 2024	$	28,125
2025	37,500
2026	437,500
2027	37,500
2028	37,500
Thereafter	448,500
Total	$	1,026,625

As of March 31, 2024, and at all times during the period, the Company was in compliance with its financial debt covenants.

Total debt is comprised of the following (in thousands):


	March 31, 2024		December 31, 2023
Term loans	$	490,625	$	519,698
Revolving credit facility	136,000		124,000
5.750% Senior notes, due August 2026	400,000		400,000
Debt issuance costs	(9,899)		(5,694)
Total debt	1,016,726		1,038,004
Less: current portion of term loans	37,500		77,900
Less: current portion of debt issuance costs	(2,625)		(3,495)
Total long-term debt	$	981,851	$	963,599

Overdraft Facility

In 2019, the Company and ACI Payments, Inc. entered in to an uncommitted overdraft facility with Bank of America, N.A. The overdraft facility bears interest at the federal funds effective rate plus 2.25% based on the Company’s average outstanding balance and the frequency in which overdrafts occur. The overdraft facility acts as a secured loan under the terms of the Credit Agreement to provide an additional funding mechanism for timing differences that can occur in the bill payment settlement process. Amounts outstanding on the overdraft facility are included in other current liabilities in the condensed consolidated balance sheet. As of March 31, 2024, there was $75.0 million available and no amount outstanding on the overdraft facility. As of December 31, 2023, there was no amount outstanding on the overdraft facility.

Other

The Company finances certain multi-year license agreements for internal-use software. Upon execution, these arrangements are treated as a non-cash investing and financing activity for purposes of the condensed consolidated statements of cash flows. As of March 31, 2024 and December 31, 2023, $3.6 million was outstanding on these agreements, all of which is included in other current liabilities in the condensed consolidated balance sheet.

- 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

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2022	$ 1,193,187	$ 702	$ 702,458	$ 1,273,458	$ (665,771)	$ (117,660)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(32,308)			(32,308)
Other comprehensive income (loss)	3,618					3,618
Stock-based compensation	5,301		5,301
Shares issued and forfeited, net, under stock plans	830		(6,719)		7,549
Repurchase of stock-based compensation awards for tax withholdings	(3,001)				(3,001)
Ending balance at Mar. 31, 2023	1,167,627	702	701,040	1,241,150	(661,223)	(114,042)
Beginning balance at Dec. 31, 2023	1,324,297	702	712,994	1,394,967	(674,896)	(109,470)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(7,751)			(7,751)
Other comprehensive income (loss)	(2,404)					(2,404)
Stock-based compensation	8,099		8,099
Shares issued and forfeited, net, under stock plans	1,179		(6,157)		7,336
Repurchase of 2,060,433 shares of common stock	(63,065)				(63,065)
Repurchase of stock-based compensation awards for tax withholdings	(3,302)				(3,302)
Ending balance at Mar. 31, 2024	$ 1,257,053	$ 702	$ 714,936	$ 1,387,216	$ (733,927)	$ (111,874)

- Definition

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

+ References

+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Stock-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

A summary of stock option activity is as follows:


	Number of Shares	Weighted Average Exercise Price ($)		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value of In-the-Money Options ($)
Outstanding as of December 31, 2023	873,512	$	18.76
Exercised	(25,513)	18.62


Outstanding as of March 31, 2024	847,999	$	18.76	1.76	$	10,040,262
Exercisable as of March 31, 2024	847,999	$	18.76	1.76	$	10,040,262

Schedule of Nonvested Total Shareholder Return Awards

A summary of nonvested TSRs is as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
Nonvested as of December 31, 2023	673,126	$	40.73
Granted	561,471	34.00

Forfeited	(8,304)	37.01
Change in payout rate	(203,945)	50.60
Nonvested as of March 31, 2024	1,022,348	$	35.10

Schedule of Fair Value of TSRs



	Three Months Ended March 31, 2024
Expected life (years)	2.7
Risk-free interest rate	4.4	%
Expected volatility	36.8	%
Expected dividend yield	—

Schedule of Nonvested Restricted Share Unit Awards

A summary of nonvested restricted share unit awards ("RSUs") is as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
Nonvested as of December 31, 2023	1,574,883	$	26.81
Granted	1,242,902	31.94
Vested	(292,250)	31.32
Forfeited	(31,893)	26.90
Nonvested as of March 31, 2024	2,493,642	$	28.84

Earnings (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Reconciliation of Weighted Average Share Amounts Used to Compute Basic and Diluted Loss Per Share

The following table reconciles the weighted average share amounts used to compute both basic and diluted loss per share (in thousands):


	Three Months Ended March 31,
		2024	2023
Weighted average shares outstanding:
Basic weighted average shares outstanding		106,799	108,156
Add: Dilutive effect of stock options and RSUs		—	—
Diluted weighted average shares outstanding		106,799	108,156

Debt - Schedule of Total Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Feb. 26, 2024	Dec. 31, 2023	Aug. 21, 2018
Debt Instrument [Line Items]
Total debt	$ 1,016,726		$ 1,038,004
Debt issuance costs	(9,899)		(5,694)
Less: current portion of term loans	34,875		74,405
Less: current portion of debt issuance costs	(2,625)		(3,495)
Total long-term debt	981,851		963,599
Senior Notes \| 5.750% Senior notes, due August 2026
Debt Instrument [Line Items]
Total debt	400,000		400,000
Stated interest rate (as a percent)		5.75%		5.75%
Term loans
Debt Instrument [Line Items]
Total debt	490,625		519,698
Less: current portion of term loans	37,500		77,900
Revolving credit facility \| Line of Credit
Debt Instrument [Line Items]
Total debt	$ 136,000		$ 124,000

Software and Other Intangible Assets - Schedule of Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Total	$ 186,782	$ 195,646
Software Amortization
Finite-Lived Intangible Assets [Line Items]
Remainder of 2024	44,011
2025	41,082
2026	20,922
2027	4,842
2028	1,509
Thereafter	2
Total	112,368
Other Intangible Assets Amortization
Finite-Lived Intangible Assets [Line Items]
Remainder of 2024	20,980
2025	20,989
2026	20,989
2027	20,711
2028	18,309
Thereafter	84,804
Total	$ 186,782

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (7,751)	$ (32,308)
Other comprehensive income (loss):
Foreign currency translation adjustments	(2,404)	3,618
Total other comprehensive income (loss)	(2,404)	3,618
Comprehensive loss	$ (10,155)	$ (28,690)

- Definition

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

+ References

+ Details

Revenue - Schedule of Total Receivables, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Billed receivables	$ 143,851	$ 250,423
Allowance for doubtful accounts	(2,581)	(4,295)
Billed receivables, net	141,270	246,128
Current accrued receivables, net	203,855	206,209
Long-term accrued receivables, net	290,186	313,983
Total accrued receivables, net	494,041	520,192
Total receivables, net	$ 635,311	$ 766,320

Segment Information

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Information

The Company reports financial performance based on its operating segments, Banks, Merchants, and Billers, and analyzes Segment Adjusted EBITDA as a measure of segment profitability.

The Company’s Chief Executive Officer is also the chief operating decision maker ("CODM"). The CODM, together with other senior management personnel, focus their review on consolidated financial information and the allocation of resources based on operating results, including revenues and Segment Adjusted EBITDA, for each segment, separate from corporate operations. No operating segments have been aggregated to form the reportable segments.

Banks. ACI provides payment solutions to large and mid-size banks globally for retail banking, real time, digital, and other payment services. These solutions transform banks’ complex payment environments to speed time to market, reduce costs, and deliver a consistent experience to customers across channels while enabling them to prevent and rapidly react to fraudulent activity. In addition, they enable banks to meet the requirements of different real-time payments schemes and to quickly create differentiated products to meet consumer, business, and merchant demands.

Merchants. ACI’s support of merchants globally includes Tier 1 and Tier 2 merchants, online-only merchants and the payment service providers, independent selling organizations, value-added resellers, and acquirers who service them. These customers operate in a variety of verticals, including general merchandise, grocery, hospitality, dining, transportation, and others. The Company's solutions provide merchants with a secure, omni-channel payments platform that gives them independence from third-party payment providers. They also offer secure solutions to online-only merchants that provide consumers with a convenient and seamless way to shop.

Billers. Within the billers segment, ACI provides electronic bill presentment and payment (“EBPP”) services to companies operating in the consumer finance, insurance, healthcare, higher education, utility, government, and mortgage categories. The solutions enable these customers to support a wide range of payment options and provide a convenient consumer payments experience that drives consumer loyalty and increases revenue.

Revenue is attributed to the reportable segments based upon customer. Expenses are attributed to the reportable segments in one of three methods: (1) direct costs of the segment, (2) labor costs that can be attributed based upon time tracking for individual projects, or (3) costs that are allocated. Allocated costs are generally marketing and sales related activities.

Segment Adjusted EBITDA is the measure reported to the CODM for purposes of making decisions on allocating resources and assessing the performance of the Company’s segments, and, therefore, Segment Adjusted EBITDA is presented in conformity with ASC 280, Segment Reporting. Segment Adjusted EBITDA is defined as earnings (loss) from operations before interest, income tax expense (benefit), depreciation and amortization (“EBITDA”) adjusted to exclude net other income (expense).

Corporate and unallocated expenses includes global facilities and information technology costs and long-term product roadmap expenses in addition to corporate overhead costs that are not allocated to reportable segments. The overhead costs relate to human resources, finance, legal, accounting, and merger and acquisition activity. These costs along with depreciation and amortization and stock-based compensation are not considered when management evaluates segment performance.

The following is selected financial data for the Company’s reportable segments for the periods indicated (in thousands):


	Three Months Ended March 31,
		2024		2023
Revenue
Banks		$	105,429	$	88,040
Merchants		35,728		34,781
Billers		174,862		166,855
Total revenue		$	316,019	$	289,676
Segment Adjusted EBITDA
Banks		$	41,638	$	24,681
Merchants		10,651		6,544
Billers		30,737		29,641
Depreciation and amortization		(27,609)		(31,539)
Stock-based compensation expense		(8,099)		(5,301)
Corporate and unallocated expenses		(37,758)		(48,378)
Interest, net		(15,001)		(15,387)
Other, net		(2,025)		(3,395)
Loss before income taxes		$	(7,466)	$	(43,134)

Assets are not allocated to segments, and the Company’s CODM does not evaluate operating segments using discrete asset information.

The following is revenue by primary solution category for the Company’s reportable segments for the periods indicated (in thousands):


	Three Months Ended March 31, 2024
	Banks		Merchants		Billers		Total
Primary Solution Categories
Bill Payments	$	—	$	—	$	174,862	$	174,862

Merchant Payments	—		35,728		—		35,728
Fraud Management	11,507		—		—		11,507
Real-Time Payments	24,748		—		—		24,748
Issuing and Acquiring	69,174		—		—		69,174
Total	$	105,429	$	35,728	$	174,862	$	316,019

	Three Months Ended March 31, 2023
	Banks		Merchants		Billers		Total
Primary Solution Categories
Bill Payments	$	—	$	—	$	166,855	$	166,855

Merchant Payments	—		34,781		—		34,781
Fraud Management	9,355		—		—		9,355
Real-Time Payments	19,398		—		—		19,398
Issuing and Acquiring	59,287		—		—		59,287
Total	$	88,040	$	34,781	$	166,855	$	289,676


	Three Months Ended March 31,
		2024		2023
Banks
Software as a service and platform as a service		$	10,518	$	9,249
License		28,533		16,316
Maintenance		44,326		46,342
Services		22,052		16,133
Total		$	105,429	$	88,040
Merchants
Software as a service and platform as a service		$	30,352	$	28,850
License		1,440		2,015
Maintenance		3,428		3,737
Services		508		179
Total		$	35,728	$	34,781
Billers
Software as a service and platform as a service		$	174,862	$	166,831
License		—		—
Maintenance		—		24
Services		—		—
Total		$	174,862	$	166,855

The following is the Company's revenue by geographic location for the periods indicated (in thousands):


	Three Months Ended March 31,
	2024		2023
Revenue
United States	$	228,107	$	201,269
Other	87,912		88,407
Total	$	316,019	$	289,676

The following is the Company’s long-lived assets by geographic location for the periods indicated (in thousands):


	March 31, 2024		December 31, 2023
Long-lived Assets
United States	$	1,209,207	$	1,216,158
Other	736,375		763,437
Total	$	1,945,582	$	1,979,595

No single customer accounted for more than 10% of the Company’s consolidated revenues during the three months ended March 31, 2024 and 2023. No other country outside the United States accounted for more than 10% of the Company's consolidated revenues during the three months ended March 31, 2024 and 2023.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 280
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-Paragraph 42
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+ Details

Stock-Based Compensation Plans - Schedule of Fair Value of TSRs (Details) - Total Shareholder Return Awards (TSRs) - Monte Carlo Simulation Valuation Model	3 Months Ended
	Mar. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	2 years 8 months 12 days
Risk-free interest rate	4.40%
Expected volatility	36.80%
Expected dividend yield	0.00%

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revenue

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue

In accordance with ASC 606, Revenue From Contracts With Customers, revenue is recognized upon transfer of control of promised products and/or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products and services. Revenue is recognized net of any taxes collected from customers and subsequently remitted to governmental authorities. See Note 9, Segment Information, for additional information, including disaggregation of revenue based on primary solution category.

Total receivables represent amounts billed and amounts earned that are to be billed in the future (i.e., accrued receivables). Included in accrued receivables are services, software as a service ("SaaS"), and platform as a service ("PaaS") revenues earned in the current period but billed in the following period, and amounts due under multi-year software license arrangements with extended payment terms for which the Company has an unconditional right to invoice and receive payment subsequent to invoicing.

Total receivables, net is comprised of the following (in thousands):


	March 31, 2024		December 31, 2023
Billed receivables	$	143,851	$	250,423
Allowance for doubtful accounts	(2,581)		(4,295)
Billed receivables, net	141,270		246,128
Current accrued receivables, net	203,855		206,209
Long-term accrued receivables, net	290,186		313,983
Total accrued receivables, net	494,041		520,192
Total receivables, net	$	635,311	$	766,320

No customer accounted for more than 10% of the Company’s consolidated receivables balance as of March 31, 2024 and December 31, 2023.

Deferred revenue includes amounts due or received from customers for software licenses, maintenance, services, and/or SaaS and PaaS services in advance of recording the related revenue.

Changes in deferred revenue were as follows (in thousands):


Balance, December 31, 2023	$	84,360
Deferral of revenue	40,479
Recognition of deferred revenue	(26,683)
Foreign currency translation	(892)
Balance, March 31, 2024	$	97,264

Revenue allocated to remaining performance obligations represents contracted revenue that will be recognized in future periods, which is comprised of deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. This does not include:

•Revenue that will be recognized in future periods from capacity overages that are accounted for as a usage-based royalty.

•SaaS and PaaS revenue from variable consideration that will be recognized in accordance with the ‘right to invoice’ practical expedient or meets the allocation objective.

Revenue allocated to remaining performance obligations was $672.8 million as of March 31, 2024, of which the Company expects to recognize approximately 49% over the next 12 months and the remainder thereafter.

During the three months ended March 31, 2024 and 2023, revenue recognized by the Company from performance obligations satisfied in previous periods was not significant.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//606/tableOfContent

+ Details

Software and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amount and Accumulated Amortization of Software Assets and Other Intangible Assets

The carrying amount and accumulated amortization of the Company's software assets subject to amortization at each balance sheet date are as follows (in thousands):


	March 31, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Balance		Gross Carrying Amount		Accumulated Amortization		Net Balance
Software for internal use	$	481,471	$	(369,103)	$	112,368	$	469,325	$	(360,907)	$	108,418

The carrying amount and accumulated amortization of the Company’s other intangible assets subject to amortization at each balance sheet date are as follows (in thousands):


	March 31, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Balance		Gross Carrying Amount		Accumulated Amortization		Net Balance
Customer relationships	$	446,207	$	(259,698)	$	186,509	$	447,654	$	(252,828)	$	194,826
Trademarks and trade names	21,810		(21,537)		273		21,899		(21,079)		820
Total other intangible assets	$	468,017	$	(281,235)	$	186,782	$	469,553	$	(273,907)	$	195,646

Schedule of Estimated Amortization Expense

Based on capitalized intangible assets as of March 31, 2024, estimated amortization expense amounts in future fiscal years are as follows (in thousands):


Fiscal Year Ending December 31,	Software Amortization		Other Intangible Assets Amortization
Remainder of 2024	$	44,011	$	20,980
2025	41,082		20,989
2026	20,922		20,989
2027	4,842		20,711
2028	1,509		18,309
Thereafter	2		84,804
Total	$	112,368	$	186,782

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	Apr. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	0-25346
Entity Registrant Name	ACI WORLDWIDE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-0772104
Entity Address, Address Line One	6060 Coventry Drive
Entity Address, Address Line Two
Entity Address, City or Town	Elkhorn,
Entity Address, State or Province	NE
Entity Address, Postal Zip Code	68022
City Area Code	402
Local Phone Number	390-7600
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		105,439,792
Title of 12(b) Security	Common Stock, $0.005 par value
Trading Symbol	ACIW
Security Exchange Name	NASDAQ
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000935036
Current Fiscal Year End Date	--12-31

Segment Information - Schedule of Selected Financial Data by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Revenues	$ 316,019	$ 289,676
Depreciation and amortization	(27,609)	(31,539)
Stock-based compensation expense	(8,099)	(5,301)
Corporate and unallocated expenses	(37,758)	(48,378)
Interest, net	(15,001)	(15,387)
Other, net	(2,025)	(3,395)
Loss before income taxes	(7,466)	(43,134)
Operating Segments \| Banks
Segment Reporting Information [Line Items]
Revenues	105,429	88,040
Segment Adjusted EBITDA	41,638	24,681
Operating Segments \| Merchants
Segment Reporting Information [Line Items]
Revenues	35,728	34,781
Segment Adjusted EBITDA	10,651	6,544
Operating Segments \| Billers
Segment Reporting Information [Line Items]
Revenues	174,862	166,855
Segment Adjusted EBITDA	$ 30,737	$ 29,641

Segment Information - Selected Financial Data, Revenues and Long lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 316,019	$ 289,676
Long-lived Assets
Long-lived assets	1,945,582		$ 1,979,595
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	228,107	201,269
Long-lived Assets
Long-lived assets	1,209,207		1,216,158
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	87,912	88,407
Long-lived Assets
Long-lived assets	736,375		$ 763,437
Bill Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	174,862	166,855
Merchant Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	35,728	34,781
Fraud Management
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	11,507	9,355
Real-Time Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	24,748	19,398
Issuing and Acquiring
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	69,174	59,287
License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	29,973	18,331
Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	47,754	50,103
Operating Segments \| Banks
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	105,429	88,040
Operating Segments \| Banks \| Bill Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0
Operating Segments \| Banks \| Merchant Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0
Operating Segments \| Banks \| Fraud Management
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	11,507	9,355
Operating Segments \| Banks \| Real-Time Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	24,748	19,398
Operating Segments \| Banks \| Issuing and Acquiring
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	69,174	59,287
Operating Segments \| Banks \| Software as a service and platform as a service
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	10,518	9,249
Operating Segments \| Banks \| License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	28,533	16,316
Operating Segments \| Banks \| Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	44,326	46,342
Operating Segments \| Banks \| Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	22,052	16,133
Operating Segments \| Merchants
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	35,728	34,781
Operating Segments \| Merchants \| Bill Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0
Operating Segments \| Merchants \| Merchant Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	35,728	34,781
Operating Segments \| Merchants \| Fraud Management
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0
Operating Segments \| Merchants \| Real-Time Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0
Operating Segments \| Merchants \| Issuing and Acquiring
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0
Operating Segments \| Merchants \| Software as a service and platform as a service
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	30,352	28,850
Operating Segments \| Merchants \| License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	1,440	2,015
Operating Segments \| Merchants \| Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	3,428	3,737
Operating Segments \| Merchants \| Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	508	179
Operating Segments \| Billers
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	174,862	166,855
Operating Segments \| Billers \| Bill Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	174,862	166,855
Operating Segments \| Billers \| Merchant Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0
Operating Segments \| Billers \| Fraud Management
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0
Operating Segments \| Billers \| Real-Time Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0
Operating Segments \| Billers \| Issuing and Acquiring
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0
Operating Segments \| Billers \| Software as a service and platform as a service
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	174,862	166,831
Operating Segments \| Billers \| License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0
Operating Segments \| Billers \| Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	24
Operating Segments \| Billers \| Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 0	$ 0

Other, Net (Details) - USD ($) $ in Thousands	3 Months Ended
Other, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Other Income and Expenses [Abstract]
Other net expense	$ (2,025)	$ (3,395)

Common Stock and Treasury Stock (Details) - USD ($)	3 Months Ended
Common Stock and Treasury Stock (Details) - USD ($)	Mar. 31, 2024	Feb. 28, 2023
Equity [Abstract]
Amount approved for repurchase		$ 200,000,000
Shares repurchased (in shares)	2,060,433
Shares repurchased, value	$ 63,065,000
Repurchase program, shares repurchased to date (in shares)	60,981,733
Repurchase program, amount paid for shares repurchased to date	$ 1,000,000,000
Maximum remaining amount authorized for purchase	$ 109,300,000

Debt - Schedule of Maturities on Debt Outstanding (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Debt Disclosure [Abstract]
Remainder of 2024	$ 28,125
2025	37,500
2026	437,500
2027	37,500
2028	37,500
Thereafter	448,500
Total	$ 1,026,625

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Effective tax rate, percentage	(4.00%)	25.00%
Foreign entities losses	$ 11.1	$ 7.2
Unrecognized tax benefit for uncertain tax positions	20.9		$ 20.9
Liabilities for interest and penalties, excluded from unrecognized tax benefits for uncertain tax positions	0.5		$ 0.5
Decrease in unrecognized tax benefits due to the settlement of various audits and expiration of statutes of limitations	$ 2.2

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 183,393	$ 164,239
Receivables, net of allowances of $2,581 and $4,295, respectively	345,125	452,337
Settlement assets	700,733	723,039
Prepaid expenses	34,416	31,479
Other current assets	34,935	35,551
Total current assets	1,298,602	1,406,645
Noncurrent assets
Accrued receivables, net	290,186	313,983
Property and equipment, net	36,924	37,856
Operating lease right-of-use assets	33,153	34,338
Software, net	112,368	108,418
Goodwill	1,226,026	1,226,026
Intangible assets, net	186,782	195,646
Deferred income taxes, net	56,017	58,499
Other noncurrent assets	60,143	63,328
TOTAL ASSETS	3,300,201	3,444,739
Current liabilities
Accounts payable	44,292	45,964
Settlement liabilities	699,804	721,164
Employee compensation	26,938	53,892
Current portion of long-term debt	34,875	74,405
Deferred revenue	77,147	59,580
Other current liabilities	65,764	82,244
Total current liabilities	948,820	1,037,249
Noncurrent liabilities
Deferred revenue	20,117	24,780
Long-term debt	981,851	963,599
Deferred income taxes, net	39,465	40,735
Operating lease liabilities	27,378	29,074
Other noncurrent liabilities	25,517	25,005
Total liabilities	2,043,148	2,120,442
Commitments and contingencies
Stockholders’ equity
Preferred stock; $0.01 par value; 5,000,000 shares authorized; no shares issued at March 31, 2024, and December 31, 2023	0	0
Common stock; $0.005 par value; 280,000,000 shares authorized; 140,525,055 shares issued at March 31, 2024, and December 31, 2023	702	702
Additional paid-in capital	714,936	712,994
Retained earnings	1,387,216	1,394,967
Treasury stock, at cost, 34,267,073 and 32,447,317 shares at March 31, 2024, and December 31, 2023, respectively	(733,927)	(674,896)
Accumulated other comprehensive loss	(111,874)	(109,470)
Total stockholders’ equity	1,257,053	1,324,297
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 3,300,201	$ 3,444,739