Revenue, remaining performance obligation, expected timing of satisfaction, period

  
forwards, options and spot exchanges of currency, as necessary, and economically hedges the net currency risks by entering into offsetting derivatives with established financial institution counterparties. The changes in fair value related to these instruments are recorded in revenues, net in the Consolidated Statements of Income. Revenue is also derived from the sale of equipment in certain of the Company’s businesses, which is recognized at the time the device is sold and control has passed to the customer. This revenue is recognized gross of the cost of sales related to the equipment in revenues, net within the Consolidated Statements of Income. The related cost of sales for the equipment is recorded in processing expenses within the Consolidated Statements of Income.Revenues from contracts with customers, within the scope of Topic 606, represents approximately 75% of total consolidated revenues, net, for the year ended December 31, 2021. Disaggregation of RevenuesThe Company provides its services to customers across different payment solutions and geographies. Revenue, net by solution (in millions) as of and for the years ended December 31 (in millions): 

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| Revenues by Solution Category\*1 |  | 2021 |  | 2020 |  | 2019 |  |
| Fuel |  | $ | 1,180.1  |  |  | $ | 1,057.2  |  |  | $ | 1,173.0  |  |  |  |  |
| Corporate payments |  | 600.0  |  |  | 434.0  |  |  | 450.0  |  |  |  |  |
| Tolls |  | 306.0  |  |  | 292.0  |  |  | 357.2  |  |  |  |  |
| Lodging |  | 309.6  |  |  | 207.0  |  |  | 212.6  |  |  |  |  |
| Gift |  | 179.5  |  |  | 154.4  |  |  | 180.2  |  |  |  |  |
| Other |  | 258.5  |  |  | 244.3  |  |  | 275.9  |  |  |  |  |
| Consolidated revenues, net |  | $ | 2,833.7  |  |  | $ | 2,388.9  |  |  | $ | 2,648.8  |  |  |  |  |

\*Columns may not calculate due to rounding. 1Reflects certain reclassifications of revenue between solution categories as the Company realigned its Corporate Payments solution, resulting in reclassification of Payroll Card revenue from Corporate Payments to Other.The table below presents the Company's revenues, net by geography as of and for the years ended December 31 (in million).

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| Revenues by Geography |  | 2021 |  | 2020 |  | 2019 |
| United States (country of domicile) |  | $ | 1,785.2  |  |  | $ | 1,467.5  |  |  | $ | 1,595.3  |  |
| Brazil |  | 368.1  |  |  | 344.2  |  |  | 427.9  |  |
| United Kingdom |  | 321.8  |  |  | 262.9  |  |  | 275.2  |  |
| Other  |  | 358.6  |  |  | 314.2  |  |  | 350.4  |  |
| Consolidated revenues, net |  | $ | 2,833.7  |  |  | $ | 2,388.9  |  |  | $ | 2,648.8  |  |
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Contract LiabilitiesDeferred revenue contract liabilities for customers subject to ASC 606 were $73.7 million and $73.0 million as of December 31, 2021 and 2020, respectively. We expect to recognize approximately $43.3 million of these amounts in revenues within 12 months and the remaining $30.4 million over the next five years as of December 31, 2021. The amount and timing of revenue recognition is affected by several factors, including contract modifications and terminations, which could impact the estimate of amounts allocated to remaining performance obligations and when such revenues could be recognized. Revenue recognized for the year ended December 31, 2021, that was included in the deferred revenue contract liability as of January 1, 2021, was approximately $41.0 million. Costs to Obtain or Fulfill a ContractWith the adoption of ASC 606, the Company began capitalizing the incremental costs of obtaining a contract with a customer if the Company expects to recover those costs. The incremental costs of obtaining a contract are those that the Company incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained (for example, a sales commission). Costs incurred to fulfill a contract are capitalized if those costs meet all of the following criteria:a.The costs relate directly to a contract or to an anticipated contract that the Company can specifically identify.b.The costs generate or enhance resources of the Company that will be used in satisfying (or in continuing to satisfy) performance obligations in the future.c.The costs are expected to be recovered.67
