0000935036-24-000038 | 10-Q | XBRL Viewer

Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2024

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 earnings (loss) per share (in thousands):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Weighted average shares outstanding:
Basic weighted average shares outstanding	104,770	108,667	105,651	108,428
Add: Dilutive effect of stock options and RSUs	1,248	266	901	—
Diluted weighted average shares outstanding	106,018	108,933	106,552	108,428

The diluted earnings (loss) per share computation excludes 1.0 million and 2.0 million options to purchase shares, RSUs, and contingently issuable shares during the three months ended September 30, 2024 and 2023, respectively, as their effect would be anti-dilutive. The diluted earnings (loss) per share computation excludes 1.2 million and 3.2 million options to purchase shares, RSUs, and contingently issuable shares during the nine months ended September 30, 2024 and 2023, respectively, as their effect would be anti-dilutive.

Common stock outstanding as of September 30, 2024, and December 31, 2023, was 104,870,815 and 108,077,738, respectively.

Revenue (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Total Receivables, Net

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


	September 30, 2024		December 31, 2023
Billed receivables	$	201,577	$	250,423
Allowance for credit losses	(1,936)		(4,295)
Billed receivables, net	199,641		246,128
Current accrued receivables, net	224,877		206,209
Long-term accrued receivables, net	338,977		313,983
Total accrued receivables, net	563,854		520,192
Total receivables, net	$	763,495	$	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	95,861
Recognition of deferred revenue	(93,900)
Foreign currency translation	1,544
Balance, September 30, 2024	$	87,865

Commitments and Contingencies (Details) $ in Millions	9 Months Ended
Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2024 USD ($)
ACH File Transmission \| Settled Litigation
Loss Contingencies [Line Items]
Litigation settlement amount	$ 1.8

- Definition

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

+ References + Details

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 income (loss)	(1,107)			(1,107)
Other comprehensive income (loss)	298					298
Stock-based compensation	17,537		17,537
Shares issued and forfeited, net, under stock plans	5,323		(11,489)		16,812
Repurchase of stock-based compensation awards for tax withholdings	(4,203)				(4,203)
Ending balance at Sep. 30, 2023	1,211,035	702	708,506	1,272,351	(653,162)	(117,362)
Beginning balance at Jun. 30, 2023	1,172,526	702	704,096	1,234,440	(655,660)	(111,052)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	37,911			37,911
Other comprehensive income (loss)	(6,310)					(6,310)
Stock-based compensation	6,822		6,822
Shares issued and forfeited, net, under stock plans	969		(2,412)		3,381
Repurchase of stock-based compensation awards for tax withholdings	(883)				(883)
Ending balance at Sep. 30, 2023	1,211,035	702	708,506	1,272,351	(653,162)	(117,362)
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 income (loss)	104,563			104,563
Other comprehensive income (loss)	4,497					4,497
Stock-based compensation	30,165		30,165
Shares issued and forfeited, net, under stock plans	4,076		(17,435)		21,511
Repurchase of shares of common stock	(128,669)				(128,669)
Repurchase of stock-based compensation awards for tax withholdings	(9,299)				(9,299)
Ending balance at Sep. 30, 2024	1,329,630	702	725,724	1,499,530	(791,353)	(104,973)
Beginning balance at Jun. 30, 2024	1,236,756	702	718,559	1,418,103	(786,526)	(114,082)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	81,427			81,427
Other comprehensive income (loss)	9,109					9,109
Stock-based compensation	11,346		11,346
Shares issued and forfeited, net, under stock plans	1,928		(4,181)		6,109
Repurchase of shares of common stock	(7,976)				(7,976)
Repurchase of stock-based compensation awards for tax withholdings	(2,960)				(2,960)
Ending balance at Sep. 30, 2024	$ 1,329,630	$ 702	$ 725,724	$ 1,499,530	$ (791,353)	$ (104,973)

- Definition

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

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- Definition

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

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 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

Revenue - Schedule of Changes in Deferred Revenue (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Deferred revenue, beginning balance	$ 84,360
Deferral of revenue	95,861
Recognition of deferred revenue	(93,900)
Foreign currency translation	1,544
Deferred revenue, ending balance	$ 87,865

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and nine months ended September 30, 2024, the Company's effective tax rate was 24% and 25%, respectively. The Company reported a tax charge on pretax income for both the three and nine months ended September 30, 2024, with foreign entities recognizing earnings of $107.6 million and $148.1 million, respectively. For the three and nine months ended September 30, 2023, the Company's effective tax rate was 19% and 83%, respectively. The Company reported a tax charge on pretax income for the three months ended September 30, 2023 and a tax benefit on pretax loss for the nine months ended September 30, 2023, with foreign entities recognizing earnings of $47.9 million and $64.9 million, respectively. 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 nine months ended September 30, 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 September 30, 2024, and December 31, 2023, the amount of unrecognized tax benefits for uncertain tax positions was $21.0 million and $20.9 million, respectively, excluding related liabilities for interest and penalties of $0.4 million and $0.5 million, respectively. The Company believes it is reasonably possible that the total amount of unrecognized tax benefits will decrease within the next 12 months by approximately $2.3 million, due to the settlement of various audits and the expiration of statutes of limitation.

- Definition

The entire disclosure for income tax.

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+ Details

Stock-Based Compensation Plans - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)				0	0
Stock-based compensation expense	$ 11,346		$ 6,822	$ 30,165	$ 17,537
Stock-based compensation expense, tax benefits	1,900		$ 1,200	5,000	3,200
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive plan, total intrinsic value of stock options exercised				$ 2,400	$ 900
Total Shareholder Return Awards (TSRs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
TSR multiplier				20.00%
Stock based compensation awards, award payout range, maximum				200.00%
Issued in period (in shares)		0
Unrecognized compensation costs	22,800			$ 22,800
Unrecognized compensation costs, weighted average recognition period				2 years
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]
Number of shares vested (in shares)				815,772
Shares withheld to pay employees' portion of minimum payroll withholding taxes (in shares)				252,290
Unrecognized compensation costs	$ 50,700			$ 50,700
Unrecognized compensation costs, weighted average recognition period				2 years 1 month 6 days
2017 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued under ESPP (in shares)				71,181	101,565

Common Stock and Treasury Stock	9 Months Ended
Common Stock and Treasury Stock	Sep. 30, 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 June 2024, the board approved the repurchase of the Company's common stock of up to $400.0 million, in place of the remaining purchase amounts previously authorized. The Company repurchased 3,946,537 shares for $128.7 million during the nine months ended September 30, 2024. Under the program to date, the Company has repurchased 62,867,837 shares for approximately $1.1 billion. As of September 30, 2024, the maximum remaining amount authorized for purchase under the stock repurchase program was $372.3 million.

- Definition

The entire disclosure for equity.

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+ Details

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Effective tax rate, percentage	24.00%	19.00%	25.00%	83.00%
Earnings of foreign entities	$ 107.6	$ 47.9	$ 148.1	$ 64.9
Unrecognized tax benefit for uncertain tax positions	21.0		21.0		$ 20.9
Liabilities for interest and penalties, excluded from unrecognized tax benefits for uncertain tax positions	0.4		0.4		$ 0.5
Decrease in unrecognized tax benefits due to the settlement of various audits and expiration of statutes of limitations	$ 2.3		$ 2.3

Condensed Consolidated Financial Statements - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other Current Liabilities
Operating lease liabilities	$ 8,960	$ 9,348
Vendor financed licenses	8,076	12,702
Accrued interest	3,124	9,172
Other	54,876	51,022
Total other current liabilities	$ 75,036	$ 82,244

Stock-Based Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2024

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

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	(104,951)	18.62


Outstanding as of September 30, 2024	768,561	$	18.78	1.31	$	24,689,894
Exercisable as of September 30, 2024	768,561	$	18.78	1.31	$	24,689,894

Total Shareholder Return Awards (TSRs)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Nonvested Total Shareholder Return Awards ("TSRs")

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	(70,496)	33.71
Change in payout rate	(203,945)	50.60
Nonvested as of September 30, 2024	960,156	$	35.22

Total Shareholder Return Awards (TSRs) | Monte Carlo Simulation Model

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Grant Date Fair Value Weighted Average Assumptions - TSRs

The fair value of TSRs granted during the nine months ended September 30, 2024 and 2023, 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:


	Nine months ended September 30,
	2024		2023
Expected life (years)	2.7		2.9
Risk-free interest rate	4.4	%	3.6	%
Expected volatility	36.8	%	37.1	%
Expected dividend yield	—		—

Restricted Share Units (RSUs)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Nonvested Restricted Share Unit Awards ("RSUs")

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	1,342,737	32.36
Vested	(815,772)	28.71
Forfeited	(147,618)	28.29
Nonvested as of September 30, 2024	1,954,230	$	29.72

- Definition

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

+ References

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+ Details

Condensed Consolidated Financial Statements

9 Months Ended

Sep. 30, 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 September 30, 2024, and for the three and nine months ended September 30, 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 and nine months ended September 30, 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):


	September 30, 2024		December 31, 2023
Operating lease liabilities	$	8,960	$	9,348
Vendor financed licenses	8,076		12,702
Accrued interest	3,124		9,172
Other	54,876		51,022
Total other current liabilities	$	75,036	$	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 September 30, 2024, and December 31, 2023, was $315.5 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 $399.6 million and $398.5 million as of September 30, 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 September 30, 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 $19.6 million and $18.5 million, which is included in other noncurrent assets in the condensed consolidated balance sheet as of September 30, 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.

Stock-Based Compensation Plans - Schedule of Grant Date Fair Value Weighted Average Assumptions - TSRs (Details) - Total Shareholder Return Awards (TSRs) - Monte Carlo Simulation Valuation Model	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	2 years 8 months 12 days	2 years 10 months 24 days
Risk-free interest rate	4.40%	3.60%
Expected volatility	36.80%	37.10%
Expected dividend yield	0.00%	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

+ Details

Debt - Narrative (Details) - USD ($)		9 Months Ended
Debt - Narrative (Details) - USD ($)	Feb. 26, 2024	Sep. 30, 2024	Dec. 31, 2023	Aug. 21, 2018
Debt Instrument [Line Items]
Long-term debt, amount outstanding		$ 1,002,875,000
Credit Agreement
Debt Instrument [Line Items]
Effective interest rate		6.70%
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 \| Option (a) \| Federal Funds Effective Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Credit Agreement \| Option (a) \| SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Credit Agreement \| Option (a) \| Base Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Credit Agreement \| Option (a) \| Base Rate \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%
Credit Agreement \| Option (b) \| SOFR \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%
Credit Agreement \| Option (b) \| SOFR \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.50%
Credit Agreement \| Overdraft Facility
Debt Instrument [Line Items]
Line of credit facility, amount available		$ 75,000,000	$ 75,000,000
Amount outstanding on overdraft facility		$ 0	0
Credit Agreement \| Overdraft Facility \| Federal Funds Effective Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.25%
5.750% Senior notes, due August 2026 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt, amount outstanding		$ 400,000,000.0
Debt instrument, face amount				$ 400,000,000.0
Stated interest rate	5.75%			5.75%
Issue price percentage of senior notes of the principal amount				100.00%
Multi-year License Agreement \| Other
Debt Instrument [Line Items]
Other long-term debt, amount outstanding		0	$ 3,600,000
Revolving credit facility \| Credit Agreement
Debt Instrument [Line Items]
Line of credit, carrying amount		131,000,000.0
Unused borrowings		467,100,000
Revolving credit facility \| Credit Agreement \| Letter of Credit
Debt Instrument [Line Items]
Unused borrowings		1,900,000
Revolving credit facility \| Refinance Amendment \| Line of Credit
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		$ 471,900,000
Term loans \| Credit Agreement \| Maximum
Debt Instrument [Line Items]
Senior secured net leverage ratio	3.75
Interest coverage ratio	3.00
Secured Debt \| Refinance Amendment \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, face amount	$ 500,000,000
Letter of Credit \| Refinance Amendment \| Line of Credit
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	35,000,000
Bridge Loan \| Refinance Amendment \| Line of Credit
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 20,000,000

Stock-Based Compensation Plans - Schedule of Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Number of Shares
Outstanding, beginning balance (in shares) \| shares	873,512
Exercised (in shares) \| shares	(104,951)
Outstanding, ending balance (in shares) \| shares	768,561
Number of shares, exercisable (in shares) \| shares	768,561
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	18.78
Weighted average exercise price, exercisable (in dollars per share) \| $ / shares	$ 18.78
Weighted Average Remaining Contractual Term (Years)
Weighted average remaining contractual term, outstanding, end of period	1 year 3 months 21 days
Weighted average remaining contractual term, exercisable	1 year 3 months 21 days
Aggregate Intrinsic Value of In-the-Money Options
Aggregate intrinsic value of in-the-money options, outstanding, end of period \| $	$ 24,689,894
Aggregate intrinsic value of in-the-money options, exercisable \| $	$ 24,689,894

Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of Reconciliation of Weighted Average Share Amounts Used to Compute both Basic and Diluted Earnings (Loss) Per Share

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


	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Weighted average shares outstanding:
Basic weighted average shares outstanding	104,770	108,667	105,651	108,428
Add: Dilutive effect of stock options and RSUs	1,248	266	901	—
Diluted weighted average shares outstanding	106,018	108,933	106,552	108,428

Software and Other Intangible Assets

9 Months Ended

Sep. 30, 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):


	September 30, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Balance		Gross Carrying Amount		Accumulated Amortization		Net Balance
Software for internal use	$	478,291	$	(387,978)	$	90,313	$	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 September 30, 2024 and 2023, totaled $16.6 million and $16.3 million, respectively. Software for internal use amortization expense recorded during the nine months ended September 30, 2024 and 2023, totaled $47.9 million and $49.3 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):


	September 30, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Balance		Gross Carrying Amount		Accumulated Amortization		Net Balance
Customer relationships	$	450,398	$	(278,088)	$	172,310	$	447,654	$	(252,828)	$	194,826
Trademarks and trade names	22,065		(22,065)		—		21,899		(21,079)		820
Total other intangible assets	$	472,463	$	(300,153)	$	172,310	$	469,553	$	(273,907)	$	195,646

Other intangible assets amortization expense recorded during the three months ended September 30, 2024 and 2023, totaled $7.1 million and $8.5 million, respectively. Other intangible assets amortization expense recorded during the nine months ended September 30, 2024 and 2023, totaled $23.8 million and $25.4 million, respectively.

Based on capitalized intangible assets as of September 30, 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	$	14,849	$	5,672
2025	44,333		21,103
2026	23,498		21,103
2027	5,929		20,839
2028	1,661		18,441
Thereafter	43		85,152
Total	$	90,313	$	172,310

Condensed Consolidated Financial Statements - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended
	Jul. 31, 2019	Sep. 30, 2024	Dec. 31, 2023
Condensed Financial Statements, Captions [Line Items]
Amount of off balance sheet settlement funds		$ 315,500	$ 273,200
Goodwill		1,226,026	1,226,026
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%
Equity method investment, amount recorded		19,600	18,500
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
Level 2 \| Senior Notes \| 5.750% Senior Notes Due 2026
Condensed Financial Statements, Captions [Line Items]
Stated interest rate		5.75%
Fair value of long-term debt		$ 399,600	$ 398,500

Earnings (Loss) Per Share - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from earnings (loss) per share, options to purchase shares and RSUs (in shares)	1,000,000.0	2,000,000	1,200,000	3,200,000
Common stock outstanding (in shares)	104,870,815		104,870,815		108,077,738

Condensed Consolidated Financial Statements (Policies)	9 Months Ended
Condensed Consolidated Financial Statements (Policies)	Sep. 30, 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 September 30, 2024, and for the three and nine months ended September 30, 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 and nine months ended September 30, 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. 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 $19.6 million and $18.5 million, which is included in other noncurrent assets in the condensed consolidated balance sheet as of September 30, 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.

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Receivables, allowances	$ 1,936	$ 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)	35,654,240	32,447,317

Segment Information - Schedule of Revenues by Primary Solution Categories, Geographical Location and Long Lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 451,752	$ 363,015	$ 1,141,250	$ 976,016
Long-lived Assets
Long-lived assets	1,942,711		1,942,711		$ 1,979,595
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	241,054	226,911	698,704	633,379
Long-lived Assets
Long-lived assets	1,155,409		1,155,409		1,216,158
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	210,698	136,104	442,546	342,637
Long-lived Assets
Long-lived assets	787,302		787,302		$ 763,437
Bill Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	179,601	171,064	546,276	507,229
Merchant Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	50,120	36,267	123,865	107,556
Fraud Management
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	18,451	16,543	39,145	38,051
Real-Time Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	45,376	26,374	96,553	72,271
Issuing and Acquiring
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	158,204	112,767	335,411	250,909
License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	157,429	79,679	252,984	142,681
Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	47,559	51,942	144,046	153,436
Operating Segments \| Banks
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	222,031	155,684	471,109	361,231
Operating Segments \| Banks \| Bill Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments \| Banks \| Merchant Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments \| Banks \| Fraud Management
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	18,451	16,543	39,145	38,051
Operating Segments \| Banks \| Real-Time Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	45,376	26,374	96,553	72,271
Operating Segments \| Banks \| Issuing and Acquiring
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	158,204	112,767	335,411	250,909
Operating Segments \| Banks \| Software as a service and platform as a service
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	11,697	10,167	33,924	29,158
Operating Segments \| Banks \| License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	143,338	77,779	235,357	136,980
Operating Segments \| Banks \| Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	43,916	48,084	133,215	142,050
Operating Segments \| Banks \| Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	23,080	19,654	68,613	53,043
Operating Segments \| Merchants
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	50,120	36,267	123,865	107,556
Operating Segments \| Merchants \| Bill Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments \| Merchants \| Merchant Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	50,120	36,267	123,865	107,556
Operating Segments \| Merchants \| Fraud Management
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments \| Merchants \| Real-Time Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments \| Merchants \| Issuing and Acquiring
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments \| Merchants \| Software as a service and platform as a service
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	32,069	30,162	94,298	89,660
Operating Segments \| Merchants \| License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	14,091	1,900	17,627	5,701
Operating Segments \| Merchants \| Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	3,643	3,834	10,831	11,314
Operating Segments \| Merchants \| Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	317	371	1,109	881
Operating Segments \| Billers
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	179,601	171,064	546,276	507,229
Operating Segments \| Billers \| Bill Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	179,601	171,064	546,276	507,229
Operating Segments \| Billers \| Merchant Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments \| Billers \| Fraud Management
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments \| Billers \| Real-Time Payments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments \| Billers \| Issuing and Acquiring
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments \| Billers \| Software as a service and platform as a service
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	179,601	171,040	546,276	507,157
Operating Segments \| Billers \| License
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	0	0	0
Operating Segments \| Billers \| Maintenance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	0	24	0	72
Operating Segments \| Billers \| Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0

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

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Revenues

Revenues

$ 451,752

$ 363,015

$ 1,141,250

$ 976,016

Operating expenses

Cost of revenue

^[1]

197,351

177,625

591,696

537,522

Research and development

37,660

33,739

108,063

106,122

Selling and marketing

28,691

29,442

83,992

98,166

General and administrative

33,949

29,821

84,942

92,675

Depreciation and amortization

31,515

30,464

86,710

93,439

Total operating expenses

329,166

301,091

955,403

927,924

Operating income

122,586

61,924

185,847

48,092

Other income (expense)

Interest expense

(18,356)

(19,840)

(55,837)

(58,641)

Interest income

3,871

3,495

11,833

10,458

Other, net

(823)

1,084

(1,692)

(6,403)

Total other income (expense)

(15,308)

(15,261)

(45,696)

(54,586)

Income (loss) before income taxes

107,278

46,663

140,151

(6,494)

Income tax expense (benefit)

25,851

8,752

35,588

(5,387)

Net income (loss)

$ 81,427

$ 37,911

$ 104,563

$ (1,107)

Income (loss) per common share

Basic (in dollars per share)

$ 0.78

$ 0.35

$ 0.99

$ (0.01)

Diluted (in dollars per share)

$ 0.77

$ 0.35

$ 0.98

$ (0.01)

Weighted average common shares outstanding

Basic (in shares)

104,770

108,667

105,651

108,428

Diluted (in shares)

106,018

108,933

106,552

108,428

Software as a service and platform as a service

Revenues

Revenues

$ 223,367

$ 211,369

$ 674,498

$ 625,975

License

Revenues

Revenues

157,429

79,679

252,984

142,681

Maintenance

Revenues

Revenues

47,559

51,942

144,046

153,436

Services

Revenues

Revenues

$ 23,397

$ 20,025

$ 69,722

$ 53,924

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

Earnings (Loss) Per Share - Schedule of Reconciliation of Weighted Average Share Amounts Used to Compute both Basic and Diluted Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Weighted average shares outstanding:
Basic weighted average shares outstanding (in shares)	104,770	108,667	105,651	108,428
Add: Dilutive effect of stock options and RSUs (in shares)	1,248	266	901	0
Diluted weighted average shares outstanding (in shares)	106,018	108,933	106,552	108,428

Revenue - Schedule of Total Receivables, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Billed receivables	$ 201,577	$ 250,423
Allowance for credit losses	(1,936)	(4,295)
Billed receivables, net	199,641	246,128
Current accrued receivables, net	224,877	206,209
Long-term accrued receivables, net	338,977	313,983
Total accrued receivables, net	563,854	520,192
Total receivables, net	$ 763,495	$ 766,320

Debt - Schedule of Total Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Feb. 26, 2024	Dec. 31, 2023	Aug. 21, 2018
Debt Instrument [Line Items]
Total debt	$ 994,297		$ 1,038,004
Debt issuance costs	(8,578)		(5,694)
Less: current portion of term loans	34,910		74,405
Less: current portion of debt issuance costs	(2,590)		(3,495)
Total long-term debt	959,387		963,599
Senior Notes \| 5.750% Senior notes, due August 2026
Debt Instrument [Line Items]
Total debt	400,000		400,000
Stated interest rate		5.75%		5.75%
Term loans
Debt Instrument [Line Items]
Total debt	471,875		519,698
Less: current portion of term loans	37,500		77,900
Revolving credit facility \| Line of Credit
Debt Instrument [Line Items]
Total debt	$ 131,000		$ 124,000

Segment Information - Schedule of Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Revenues	$ 451,752	$ 363,015	$ 1,141,250	$ 976,016
Depreciation and amortization	(31,515)	(30,463)	(86,710)	(93,438)
Stock-based compensation expense	(11,346)	(6,822)	(30,165)	(17,537)
Corporate and unallocated expenses	(46,128)	(41,283)	(123,901)	(135,053)
Interest, net	(14,485)	(16,345)	(44,004)	(48,183)
Other, net	(823)	1,084	(1,692)	(6,403)
Income (loss) before income taxes	107,278	46,663	140,151	(6,494)
Operating Segments \| Banks
Segment Reporting Information [Line Items]
Revenues	222,031	155,684	471,109	361,231
Segment Adjusted EBITDA	153,944	91,010	274,794	167,313
Operating Segments \| Merchants
Segment Reporting Information [Line Items]
Revenues	50,120	36,267	123,865	107,556
Segment Adjusted EBITDA	26,711	10,296	52,737	26,751
Operating Segments \| Billers
Segment Reporting Information [Line Items]
Revenues	179,601	171,064	546,276	507,229
Segment Adjusted EBITDA	$ 30,920	$ 39,186	$ 99,092	$ 100,056

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2024	Nov. 05, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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, 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		104,888,642
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	Q3
Entity Central Index Key	0000935036
Current Fiscal Year End Date	--12-31

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 81,427	$ 37,911	$ 104,563	$ (1,107)

- Definition

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

+ References

+ Details

Other, Net	9 Months Ended
Other, Net	Sep. 30, 2024
Other Income and Expenses [Abstract]
Other, Net	Other, NetOther, net is primarily comprised of foreign currency transaction gains and losses. Other, net was $0.8 million of expense and $1.1 million of income for the three months ended September 30, 2024 and 2023, respectively. Other, net was $1.7 million and $6.4 million of expense for the nine months ended September 30, 2024 and 2023, respectively.

Condensed Consolidated Financial Statements (Tables)

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Other Current Liabilities

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


	September 30, 2024		December 31, 2023
Operating lease liabilities	$	8,960	$	9,348
Vendor financed licenses	8,076		12,702
Accrued interest	3,124		9,172
Other	54,876		51,022
Total other current liabilities	$	75,036	$	82,244

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Statement of Stockholders' Equity [Abstract]
Repurchase of common stock (in shares)	203,317	3,946,537

Other, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Other, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Income and Expenses [Abstract]
Other income (expense)	$ (823)	$ 1,084	$ (1,692)	$ (6,403)

Stock-Based Compensation Plans - Schedule of Nonvested Restricted Share Unit Awards ("RSUs") (Details) - Restricted Share Units (RSUs)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Number of Shares
Nonvested, beginning balance (in shares) \| shares	1,574,883
Granted (in shares) \| shares	1,342,737
Vested (in shares) \| shares	(815,772)
Forfeited (in shares) \| shares	(147,618)
Nonvested, ending balance (in shares) \| shares	1,954,230
Weighted Average Grant Date Fair Value
Nonvested, beginning balance (in dollars per share) \| $ / shares	$ 26.81
Granted (in dollars per share) \| $ / shares	32.36
Vested (in dollars per share) \| $ / shares	28.71
Forfeited (in dollars per share) \| $ / shares	28.29
Nonvested, ending balance (in dollars per share) \| $ / shares	$ 29.72

Debt - Schedule of Maturities on Debt Outstanding (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Debt Disclosure [Abstract]
Remainder of 2024	$ 9,375
2025	37,500
2026	437,500
2027	37,500
2028	37,500
Thereafter	443,500
Total	$ 1,002,875

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Deferred Revenue Arrangement [Line Items]
Revenue allocated to remaining performance obligations	$ 659.2		$ 659.2
Performance obligation satisfied in previous periods	$ 0.0	$ 23.3	$ 0.0	$ 43.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Deferred Revenue Arrangement [Line Items]
Revenue percentage to be collected	51.00%		51.00%
Timing of revenue to be collected	12 months		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01
Deferred Revenue Arrangement [Line Items]
Timing of revenue to be collected

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 177,860	$ 164,239
Receivables, net of allowances of $1,936 and $4,295, respectively	424,518	452,337
Settlement assets	428,479	723,039
Prepaid expenses	31,878	31,479
Other current assets	22,865	35,551
Total current assets	1,085,600	1,406,645
Noncurrent assets
Accrued receivables, net	338,977	313,983
Property and equipment, net	31,441	37,856
Operating lease right-of-use assets	29,181	34,338
Software, net	90,313	108,418
Goodwill	1,226,026	1,226,026
Intangible assets, net	172,310	195,646
Deferred income taxes, net	64,674	58,499
Other noncurrent assets	54,463	63,328
TOTAL ASSETS	3,092,985	3,444,739
Current liabilities
Accounts payable	47,912	45,964
Settlement liabilities	428,080	721,164
Employee compensation	42,806	53,892
Current portion of long-term debt	34,910	74,405
Deferred revenue	68,550	59,580
Other current liabilities	75,036	82,244
Total current liabilities	697,294	1,037,249
Noncurrent liabilities
Deferred revenue	19,315	24,780
Long-term debt	959,387	963,599
Deferred income taxes, net	38,439	40,735
Operating lease liabilities	23,601	29,074
Other noncurrent liabilities	25,319	25,005
Total liabilities	1,763,355	2,120,442
Commitments and contingencies
Stockholders’ equity
Preferred stock; $0.01 par value; 5,000,000 shares authorized; no shares issued at September 30, 2024, and December 31, 2023	0	0
Common stock; $0.005 par value; 280,000,000 shares authorized; 140,525,055 shares issued at September 30, 2024, and December 31, 2023	702	702
Additional paid-in capital	725,724	712,994
Retained earnings	1,499,530	1,394,967
Treasury stock, at cost, 35,654,240 and 32,447,317 shares at September 30, 2024, and December 31, 2023, respectively	(791,353)	(674,896)
Accumulated other comprehensive loss	(104,973)	(109,470)
Total stockholders’ equity	1,329,630	1,324,297
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 3,092,985	$ 3,444,739

Stock-Based Compensation Plans - Schedule of Nonvested Total Shareholder Return Awards ("TSRs") (Details) - Total Shareholder Return Awards (TSRs)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Number of Shares
Nonvested, beginning balance (in shares) \| shares	673,126
Granted (in shares) \| shares	561,471
Forfeited (in shares) \| shares	(70,496)
Change in payout rate (in shares) \| shares	(203,945)
Nonvested, ending balance (in shares) \| shares	960,156
Weighted Average Grant Date Fair Value
Nonvested, beginning balance (in dollars per share) \| $ / shares	$ 40.73
Granted (in dollars per share) \| $ / shares	34.00
Forfeited (in dollars per share) \| $ / shares	33.71
Change in payout rate (in dollars per share) \| $ / shares	50.60
Nonvested, ending balance (in dollars per share) \| $ / shares	$ 35.22

Software and Other Intangible Assets - Schedule of Carrying Amount and Accumulated Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Total	$ 172,310	$ 195,646
Software for internal use
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	478,291	469,325
Accumulated Amortization	(387,978)	(360,907)
Total	90,313	108,418
Total other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	472,463	469,553
Accumulated Amortization	(300,153)	(273,907)
Total	172,310	195,646
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	450,398	447,654
Accumulated Amortization	(278,088)	(252,828)
Total	172,310	194,826
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	22,065	21,899
Accumulated Amortization	(22,065)	(21,079)
Total	$ 0	$ 820

- Definition

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

+ References + Details

Common Stock and Treasury Stock (Details) - USD ($)	3 Months Ended	9 Months Ended
Common Stock and Treasury Stock (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2024	Jun. 30, 2024
Equity [Abstract]
Amount approved for repurchase			$ 400,000,000.0
Shares repurchased (in shares)	203,317	3,946,537
Shares repurchased, value	$ 7,976,000	$ 128,669,000
Repurchase program, shares repurchased to date (in shares)	62,867,837	62,867,837
Repurchase program, amount paid for shares repurchased to date	$ 1,100,000,000	$ 1,100,000,000
Maximum remaining amount authorized for purchase	$ 372,300,000	$ 372,300,000

Stock-Based Compensation Plans

9 Months Ended

Sep. 30, 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 nine months ended September 30, 2024 and 2023, totaled 71,181 and 101,565, 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	(104,951)	18.62


Outstanding as of September 30, 2024	768,561	$	18.78	1.31	$	24,689,894
Exercisable as of September 30, 2024	768,561	$	18.78	1.31	$	24,689,894

The total intrinsic value of stock options exercised during the nine months ended September 30, 2024 and 2023, was $2.4 million and $0.9 million, respectively. There were no stock options granted during the nine months ended September 30, 2024 or 2023.

Performance Share Awards

During the nine months ended September 30, 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	(70,496)	33.71
Change in payout rate	(203,945)	50.60
Nonvested as of September 30, 2024	960,156	$	35.22

In the first quarter of 2024, the TSRs granted in 2021 were earned by the employees. However, the performance goals were not met and no shares were issued.


	Nine months ended September 30,
	2024		2023
Expected life (years)	2.7		2.9
Risk-free interest rate	4.4	%	3.6	%
Expected volatility	36.8	%	37.1	%
Expected dividend yield	—		—

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	1,342,737	32.36
Vested	(815,772)	28.71
Forfeited	(147,618)	28.29
Nonvested as of September 30, 2024	1,954,230	$	29.72

During the nine months ended September 30, 2024, a total of 815,772 RSUs vested. The Company withheld 252,290 of those shares to pay the employees’ portion of the minimum payroll withholding taxes.

As of September 30, 2024, there was unrecognized compensation expense of $50.7 million related to RSUs and $22.8 million related to TSRs, which the Company expects to recognize over a weighted average period of 2.1 years and 2.0 years, respectively.

The Company recorded stock-based compensation expense recognized under ASC 718 for the three months ended September 30, 2024 and 2023, of $11.3 million and $6.8 million, respectively, with corresponding tax benefits of $1.9 million and $1.2 million, respectively. The Company recorded stock-based compensation expense recognized under ASC 718 for the nine months ended September 30, 2024 and 2023, of $30.2 million and $17.5 million, respectively, with corresponding tax benefits of $5.0 million and $3.2 million, respectively.

Segment Information - Additional Information (Details)	3 Months Ended
Segment Information - Additional Information (Details)	Sep. 30, 2024
Revenue Benchmark \| Geographic Concentration Risk \| UNITED KINGDOM
Segment Reporting Information [Line Items]
Customer concentration risk, percentage	12.00%

Software and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amount and Accumulated Amortization

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):


	September 30, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Balance		Gross Carrying Amount		Accumulated Amortization		Net Balance
Software for internal use	$	478,291	$	(387,978)	$	90,313	$	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):


	September 30, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Balance		Gross Carrying Amount		Accumulated Amortization		Net Balance
Customer relationships	$	450,398	$	(278,088)	$	172,310	$	447,654	$	(252,828)	$	194,826
Trademarks and trade names	22,065		(22,065)		—		21,899		(21,079)		820
Total other intangible assets	$	472,463	$	(300,153)	$	172,310	$	469,553	$	(273,907)	$	195,646

Schedule of Estimated Amortization Expense

Based on capitalized intangible assets as of September 30, 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	$	14,849	$	5,672
2025	44,333		21,103
2026	23,498		21,103
2027	5,929		20,839
2028	1,661		18,441
Thereafter	43		85,152
Total	$	90,313	$	172,310

Software and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Other intangible assets amortization expense	$ 7.1	$ 8.5	$ 23.8	$ 25.4
Software for Internal Use
Finite-Lived Intangible Assets [Line Items]
Software, amortization expense	$ 16.6	$ 16.3	$ 47.9	$ 49.3
Minimum \| Software for Internal Use
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	3 years		3 years
Maximum \| Software for Internal Use
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	8 years		8 years

- Definition

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

+ References + Details

Software and Other Intangible Assets - Schedule of Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Total	$ 172,310	$ 195,646
Software Amortization
Finite-Lived Intangible Assets [Line Items]
Remainder of 2024	14,849
2025	44,333
2026	23,498
2027	5,929
2028	1,661
Thereafter	43
Total	90,313
Other Intangible Assets Amortization
Finite-Lived Intangible Assets [Line Items]
Remainder of 2024	5,672
2025	21,103
2026	21,103
2027	20,839
2028	18,441
Thereafter	85,152
Total	$ 172,310

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ 104,563	$ (1,107)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation	14,999	18,722
Amortization	71,711	74,716
Amortization of operating lease right-of-use assets	7,337	9,190
Amortization of deferred debt issuance costs	2,257	3,415
Deferred income taxes	(2,229)	(25,207)
Stock-based compensation expense	30,165	17,537
Other	180	2,168
Changes in operating assets and liabilities:
Receivables	3,699	42,012
Accounts payable	758	(7,198)
Accrued employee compensation	(11,125)	(2,879)
Deferred revenue	1,884	4,404
Other current and noncurrent assets and liabilities	8,067	(52,999)
Net cash flows from operating activities	232,266	82,774
Cash flows from investing activities:
Purchases of property and equipment	(8,463)	(7,956)
Purchases of software and distribution rights	(23,178)	(22,571)
Net cash flows from investing activities	(31,641)	(30,527)
Cash flows from financing activities:
Proceeds from issuance of common stock	2,129	2,122
Proceeds from exercises of stock options	1,954	3,132
Repurchase of stock-based compensation awards for tax withholdings	(9,299)	(4,203)
Repurchases of common stock	(127,670)	0
Proceeds from revolving credit facility	184,000	75,000
Repayment of revolving credit facility	(177,000)	(51,000)
Proceeds from term portion of credit agreement	500,000	0
Repayment of term portion of credit agreement	(547,823)	(53,556)
Payments on or proceeds from other debt, net	(9,299)	(12,473)
Payments for debt issuance costs	(5,141)	(2,160)
Net increase (decrease) in settlement assets and liabilities	17,704	(4,635)
Net cash flows from financing activities	(170,445)	(47,773)
Effect of exchange rate fluctuations on cash	(331)	4,388
Net increase in cash and cash equivalents	29,849	8,862
Cash and cash equivalents, including settlement deposits, beginning of period	238,821	214,672
Cash and cash equivalents, including settlement deposits, end of period	268,670	223,534
Reconciliation of cash and cash equivalents to the Consolidated Balance Sheets
Cash and cash equivalents	177,860	139,520
Settlement deposits	90,810	84,014
Total cash and cash equivalents, including settlement deposits	268,670	223,534
Supplemental cash flow information
Income taxes paid	23,143	43,915
Interest paid	$ 59,924	$ 60,597

Debt (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Maturities on Debt Outstanding

Maturities on debt outstanding as of September 30, 2024, are as follows (in thousands):


Fiscal Year Ending December 31,
Remainder of 2024	$	9,375
2025	37,500
2026	437,500
2027	37,500
2028	37,500
Thereafter	443,500
Total	$	1,002,875

Schedule of Total Debt

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


	September 30, 2024		December 31, 2023
Term loans	$	471,875	$	519,698
Revolving credit facility	131,000		124,000
5.750% Senior notes, due August 2026	400,000		400,000
Debt issuance costs	(8,578)		(5,694)
Total debt	994,297		1,038,004
Less: current portion of term loans	37,500		77,900
Less: current portion of debt issuance costs	(2,590)		(3,495)
Total long-term debt	$	959,387	$	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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 30
-Name Accounting Standards Codification
-Section 45
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings In April 2021, ACH files associated with one of the Company's mortgage servicing customers were inadvertently transmitted into the ACH network during a test of the Company's payment processing system. The Company took immediate corrective action and issued reversing ACH files, restoring affected accounts. The Company’s customer commenced an action for damages as a result of this event. The Company settled with the customer for the amount of $1.8 million, which will be funded by insurance carriers. Funds received from or expected to be received from insurance carriers are generally subject to the respective carriers' reservation of rights. The Company is from time to time subject to other claims, litigation and investigations. While the Company believes that none of the currently pending matters is reasonably likely to have a material adverse effect on it, there can be no assurance with respect thereto or future matters.

Segment Information (Tables)

9 Months Ended

Sep. 30, 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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Revenue
Banks	$	222,031	$	155,684	$	471,109	$	361,231
Merchants	50,120		36,267		123,865		107,556
Billers	179,601		171,064		546,276		507,229
Total revenue	$	451,752	$	363,015	$	1,141,250	$	976,016
Segment Adjusted EBITDA
Banks	$	153,944	$	91,010	$	274,794	$	167,313
Merchants	26,711		10,296		52,737		26,751
Billers	30,920		39,186		99,092		100,056
Depreciation and amortization	(31,515)		(30,463)		(86,710)		(93,438)
Stock-based compensation expense	(11,346)		(6,822)		(30,165)		(17,537)
Corporate and unallocated expenses	(46,128)		(41,283)		(123,901)		(135,053)
Interest, net	(14,485)		(16,345)		(44,004)		(48,183)
Other, net	(823)		1,084		(1,692)		(6,403)
Income (loss) before income taxes	$	107,278	$	46,663	$	140,151	$	(6,494)

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 September 30, 2024
	Banks		Merchants		Billers		Total
Primary Solution Categories
Bill Payments	$	—	$	—	$	179,601	$	179,601

Merchant Payments	—		50,120		—		50,120
Fraud Management	18,451		—		—		18,451
Real-Time Payments	45,376		—		—		45,376
Issuing and Acquiring	158,204		—		—		158,204
Total	$	222,031	$	50,120	$	179,601	$	451,752

	Three Months Ended September 30, 2023
	Banks		Merchants		Billers		Total
Primary Solution Categories
Bill Payments	$	—	$	—	$	171,064	$	171,064

Merchant Payments	—		36,267		—		36,267
Fraud Management	16,543		—		—		16,543
Real-Time Payments	26,374		—		—		26,374
Issuing and Acquiring	112,767		—		—		112,767
Total	$	155,684	$	36,267	$	171,064	$	363,015

	Nine Months Ended September 30, 2024
	Banks		Merchants		Billers		Total
Primary Solution Categories
Bill Payments	$	—	$	—	$	546,276	$	546,276

Merchant Payments	—		123,865		—		123,865
Fraud Management	39,145		—		—		39,145
Real-Time Payments	96,553		—		—		96,553
Issuing and Acquiring	335,411		—		—		335,411
Total	$	471,109	$	123,865	$	546,276	$	1,141,250

	Nine Months Ended September 30, 2023
	Banks		Merchants		Billers		Total
Primary Solution Categories
Bill Payments	$	—	$	—	$	507,229	$	507,229

Merchant Payments	—		107,556		—		107,556
Fraud Management	38,051		—		—		38,051
Real-Time Payments	72,271		—		—		72,271
Issuing and Acquiring	250,909		—		—		250,909
Total	$	361,231	$	107,556	$	507,229	$	976,016


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Banks
Software as a service and platform as a service	$	11,697	$	10,167	$	33,924	$	29,158
License	143,338		77,779		235,357		136,980
Maintenance	43,916		48,084		133,215		142,050
Services	23,080		19,654		68,613		53,043
Total	$	222,031	$	155,684	$	471,109	$	361,231
Merchants
Software as a service and platform as a service	$	32,069	$	30,162	$	94,298	$	89,660
License	14,091		1,900		17,627		5,701
Maintenance	3,643		3,834		10,831		11,314
Services	317		371		1,109		881
Total	$	50,120	$	36,267	$	123,865	$	107,556
Billers
Software as a service and platform as a service	$	179,601	$	171,040	$	546,276	$	507,157
License	—		—		—		—
Maintenance	—		24		—		72
Services	—		—		—		—
Total	$	179,601	$	171,064	$	546,276	$	507,229

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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Revenue
United States	$	241,054	$	226,911	$	698,704	$	633,379
Other	210,698		136,104		442,546		342,637
Total	$	451,752	$	363,015	$	1,141,250	$	976,016

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):


	September 30, 2024		December 31, 2023
Long-lived Assets
United States	$	1,155,409	$	1,216,158
Other	787,302		763,437
Total	$	1,942,711	$	1,979,595

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 81,427	$ 37,911	$ 104,563	$ (1,107)
Other comprehensive income (loss):
Foreign currency translation adjustments	9,109	(6,310)	4,497	298
Total other comprehensive income (loss)	9,109	(6,310)	4,497	298
Comprehensive income (loss)	$ 90,536	$ 31,601	$ 109,060	$ (809)

- Definition

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

+ References + Details

- Definition

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

+ References

+ Details

Revenue

9 Months Ended

Sep. 30, 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):


	September 30, 2024		December 31, 2023
Billed receivables	$	201,577	$	250,423
Allowance for credit losses	(1,936)		(4,295)
Billed receivables, net	199,641		246,128
Current accrued receivables, net	224,877		206,209
Long-term accrued receivables, net	338,977		313,983
Total accrued receivables, net	563,854		520,192
Total receivables, net	$	763,495	$	766,320

No customer accounted for more than 10% of the Company’s consolidated receivables balance as of September 30, 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	95,861
Recognition of deferred revenue	(93,900)
Foreign currency translation	1,544
Balance, September 30, 2024	$	87,865

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 $659.2 million as of September 30, 2024, of which the Company expects to recognize approximately 51% over the next 12 months and the remainder thereafter.

During the three and nine months ended September 30, 2024, revenue recognized by the Company from performance obligations satisfied in previous periods was not significant. During the three and nine months ended September 30, 2023, revenue recognized by the Company from performance obligations satisfied in previous periods was $23.3 million and $43.7 million, respectively.

- 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
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 12
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Segment Information

9 Months Ended

Sep. 30, 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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Revenue
Banks	$	222,031	$	155,684	$	471,109	$	361,231
Merchants	50,120		36,267		123,865		107,556
Billers	179,601		171,064		546,276		507,229
Total revenue	$	451,752	$	363,015	$	1,141,250	$	976,016
Segment Adjusted EBITDA
Banks	$	153,944	$	91,010	$	274,794	$	167,313
Merchants	26,711		10,296		52,737		26,751
Billers	30,920		39,186		99,092		100,056
Depreciation and amortization	(31,515)		(30,463)		(86,710)		(93,438)
Stock-based compensation expense	(11,346)		(6,822)		(30,165)		(17,537)
Corporate and unallocated expenses	(46,128)		(41,283)		(123,901)		(135,053)
Interest, net	(14,485)		(16,345)		(44,004)		(48,183)
Other, net	(823)		1,084		(1,692)		(6,403)
Income (loss) before income taxes	$	107,278	$	46,663	$	140,151	$	(6,494)

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 September 30, 2024
	Banks		Merchants		Billers		Total
Primary Solution Categories
Bill Payments	$	—	$	—	$	179,601	$	179,601

Merchant Payments	—		50,120		—		50,120
Fraud Management	18,451		—		—		18,451
Real-Time Payments	45,376		—		—		45,376
Issuing and Acquiring	158,204		—		—		158,204
Total	$	222,031	$	50,120	$	179,601	$	451,752

	Three Months Ended September 30, 2023
	Banks		Merchants		Billers		Total
Primary Solution Categories
Bill Payments	$	—	$	—	$	171,064	$	171,064

Merchant Payments	—		36,267		—		36,267
Fraud Management	16,543		—		—		16,543
Real-Time Payments	26,374		—		—		26,374
Issuing and Acquiring	112,767		—		—		112,767
Total	$	155,684	$	36,267	$	171,064	$	363,015

	Nine Months Ended September 30, 2024
	Banks		Merchants		Billers		Total
Primary Solution Categories
Bill Payments	$	—	$	—	$	546,276	$	546,276

Merchant Payments	—		123,865		—		123,865
Fraud Management	39,145		—		—		39,145
Real-Time Payments	96,553		—		—		96,553
Issuing and Acquiring	335,411		—		—		335,411
Total	$	471,109	$	123,865	$	546,276	$	1,141,250

	Nine Months Ended September 30, 2023
	Banks		Merchants		Billers		Total
Primary Solution Categories
Bill Payments	$	—	$	—	$	507,229	$	507,229

Merchant Payments	—		107,556		—		107,556
Fraud Management	38,051		—		—		38,051
Real-Time Payments	72,271		—		—		72,271
Issuing and Acquiring	250,909		—		—		250,909
Total	$	361,231	$	107,556	$	507,229	$	976,016


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Banks
Software as a service and platform as a service	$	11,697	$	10,167	$	33,924	$	29,158
License	143,338		77,779		235,357		136,980
Maintenance	43,916		48,084		133,215		142,050
Services	23,080		19,654		68,613		53,043
Total	$	222,031	$	155,684	$	471,109	$	361,231
Merchants
Software as a service and platform as a service	$	32,069	$	30,162	$	94,298	$	89,660
License	14,091		1,900		17,627		5,701
Maintenance	3,643		3,834		10,831		11,314
Services	317		371		1,109		881
Total	$	50,120	$	36,267	$	123,865	$	107,556
Billers
Software as a service and platform as a service	$	179,601	$	171,040	$	546,276	$	507,157
License	—		—		—		—
Maintenance	—		24		—		72
Services	—		—		—		—
Total	$	179,601	$	171,064	$	546,276	$	507,229

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Revenue
United States	$	241,054	$	226,911	$	698,704	$	633,379
Other	210,698		136,104		442,546		342,637
Total	$	451,752	$	363,015	$	1,141,250	$	976,016

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


	September 30, 2024		December 31, 2023
Long-lived Assets
United States	$	1,155,409	$	1,216,158
Other	787,302		763,437
Total	$	1,942,711	$	1,979,595

No single customer accounted for more than 10% of the Company's consolidated revenue during the three and nine months ended September 30, 2024 and 2023. The United Kingdom accounted for 12.0% of the Company's consolidated revenues during the three months ended September 30, 2024. No other country outside the United States accounted for more than 10% of the Company's consolidated revenues during the three months ended September 30, 2023 and nine months ended September 30, 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.

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+ Details

Debt

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Debt

As of September 30, 2024, the Company had $131.0 million, $471.9 million, and $400.0 million outstanding under its Revolving Credit Facility, Term Loans, and Senior Notes, respectively, with up to $467.1 million of unused borrowings under the Revolving Credit Facility portion of the Credit Agreement, as amended, and up to $1.9 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 Secured Overnight Financing Rate ("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 September 30, 2024, was 6.70%.

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 September 30, 2024, are as follows (in thousands):


Fiscal Year Ending December 31,
Remainder of 2024	$	9,375
2025	37,500
2026	437,500
2027	37,500
2028	37,500
Thereafter	443,500
Total	$	1,002,875

As of September 30, 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):


	September 30, 2024		December 31, 2023
Term loans	$	471,875	$	519,698
Revolving credit facility	131,000		124,000
5.750% Senior notes, due August 2026	400,000		400,000
Debt issuance costs	(8,578)		(5,694)
Total debt	994,297		1,038,004
Less: current portion of term loans	37,500		77,900
Less: current portion of debt issuance costs	(2,590)		(3,495)
Total long-term debt	$	959,387	$	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 September 30, 2024 and December 31, 2023, there was $75.0 million available and 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 September 30, 2024, no amount was outstanding on these agreements. As of December 31, 2023, $3.6 million was outstanding on these agreements, all of which was included in other current liabilities in the 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.

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+ Details