8-KEarnings & ResultsExhibits & Filings

GLOBAL PAYMENTS INC 8-K Report, Financial Results (Jan 15, 2020)

Filed January 15, 2020For Securities:GPN

Summary

This 8-K filing from Global Payments Inc. (GPN) primarily announces the supplemental combined financial information following its significant merger with Total System Services, Inc. (TSYS) on September 18, 2019. The combined entity is providing this information to allow shareholders a clearer view of the company's operating performance on a unified basis, incorporating TSYS' results from the merger date onwards. This supplemental data is crucial for understanding the post-merger financial landscape and evaluating the company's trajectory. The supplemental information, presented in Exhibit 99.1, adjusts historical financial data from both Global Payments and TSYS to reflect changes in reportable segments and present certain non-GAAP financial measures on a combined basis for the first, second, and third quarters of 2019. Investors should pay close attention to these adjustments and the accompanying notes to fully grasp the financial implications and performance metrics of the newly combined company.

Key Highlights

  • 1Global Payments Inc. (GPN) completed its merger with Total System Services, Inc. (TSYS) on September 18, 2019.
  • 2TSYS' financial results are included in GPN's consolidated statements from the merger date.
  • 3The company is providing supplemental combined financial information to enhance investor evaluation of post-merger performance.
  • 4Exhibit 99.1 contains this supplemental information, focusing on adjusted financial data for Q1, Q2, and Q3 2019.
  • 5The supplemental data reflects changes in reportable segments and presents non-GAAP financial measures on a combined basis.
  • 6This information is intended to provide a clearer view of the operating performance of the merged entity.

Frequently Asked Questions

The main purpose of this 8-K filing is to provide supplemental combined financial information to shareholders following the merger of Global Payments Inc. with Total System Services, Inc. (TSYS). This information aims to give investors a better understanding of the company's performance on a combined basis.

The merger between Global Payments Inc. and Total System Services, Inc. (TSYS) was completed on September 18, 2019, with Global Payments being the surviving entity.

The supplemental combined financial information in Exhibit 99.1 covers the first, second, and third quarters of 2019. It reflects the combined entity's performance from the merger date onward.

The supplemental information presents certain non-GAAP financial measures on a combined company basis. However, the schedules themselves are prepared based on adjustments to historical financial information determined in accordance with U.S. generally accepted accounting principles (GAAP), with specific adjustments detailed in the notes.