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Global Payments Inc (GPN) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Global Payments Inc

CIK: 1123360 Ticker: GPN



PRESS RELEASE
 
globalpaymentslogoa03.jpg

Global Payments Reports Record Annual Results for 2018 and
Establishes 2019 Growth Outlook
 
ATLANTA, February 13, 2019
-- Global Payments Inc. (NYSE: GPN) today announced results for the fourth quarter and year ended December 31, 2018.
“In 2018, we produced the best financial performance in our history, culminating with strong momentum across our businesses in the fourth quarter,” said Jeff Sloan, Chief Executive Officer. “Successful execution of our strategy has created a more diverse, predictable and resilient business model entering 2019.”
“We believe the advantages of our technology-enabled, software-driven strategy will continue to differentiate our company, with a balanced approach across owned SaaS, partnered software and ecommerce and omnichannel assets,” Sloan continued. “The positive outlook for our business is reflected in our absolute and relative growth expectations for 2019.”

Full-Year 2018 Summary
GAAP revenues were $3.37 billion, compared to $3.98 billion in 2017; diluted earnings per share were $2.84 compared to $3.01 in the prior year; and operating margin was 21.9% compared to 14.1% in 2017; 2018 results reflect the adoption of Accounting Standards Codification Topic 606, Revenue from Contracts with Customers.
Adjusted net revenue plus network fees grew 15% to $3.97 billion, compared to $3.46 billion in 2017.
Adjusted earnings per share grew 29% to $5.19, compared to $4.01 in 2017.
Adjusted operating margin expanded 130 basis points to 31.7%.

Fourth Quarter 2018 Summary
GAAP revenues were $881 million, compared to $1.05 billion in the fourth quarter of 2017; diluted earnings per share were $0.47 compared to $1.51 in the prior year; and operating margin was 19.0% compared to 14.2% in the fourth quarter of 2017; 2018 results reflect the adoption of Accounting Standards Codification Topic 606, Revenue from Contracts with Customers.
Adjusted net revenue plus network fees grew over 12% to $1.04 billion, compared to $923.7 million in the fourth quarter of 2017.
Adjusted earnings per share grew 24% to $1.33, compared to $1.07 in the fourth quarter of 2017.
Adjusted operating margin expanded 80 basis points to 31.6%.
 

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The following information was filed by Global Payments Inc (GPN) on Wednesday, February 13, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii Valuation And Qualifying Accounts
Schedule Ii Valuation And Qualifying Accounts (Details)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Changes In Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Accounts Payable And Accrued Liabilities
Accounts Payable And Accrued Liabilities (Tables)
Accounts Payable And Accrued Liabilities - Summary (Details)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Summary (Details)
Acquisitions
Acquisitions (Tables)
Acquisitions - Acquisition Date Fair Values (Details)
Acquisitions - Assets Acquired And Liabilities Assumed (Details)
Acquisitions - Components Of Consideration Transferred (Details)
Acquisitions - Fair Value Of Intangible Assets (Details)
Acquisitions - Narrative (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Basis Of Presentation And Summary Of Significant Accounting Policies - Earnings Per Share (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Narrative (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Summary (Details)
Comparative Data For The Year Ended December 31, 2016 And The Seven Months Ended December 31, 2015 (Unaudited)
Comparative Data For The Year Ended December 31, 2016 And The Seven Months Ended December 31, 2015 (Unaudited) (Tables)
Comparative Data For The Year Ended December 31, 2016 And The Seven Months Ended December 31, 2015 (Unaudited) - Summary (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Goodwill Roll-Forward (Details)
Goodwill And Intangible Assets - Narrative (Details)
Goodwill And Intangible Assets - Schedule Of Future Intangible Asset Amortization Expense (Details)
Goodwill And Intangible Assets - Schedule Of Goodwill And Intangible Assets (Details)
Income Tax
Income Tax (Tables)
Income Tax - Change In Valuation Allowance (Details)
Income Tax - Components Of Income Tax Expense (Details)
Income Tax - Deferred Tax Assets And Liabilities (Details)
Income Tax - Income Before Income Taxes, Domestic And Foreign (Details)
Income Tax - Narrative (Details)
Income Tax - Net Deferred Tax Asset And Liability (Details)
Income Tax - Reconciliation (Details)
Income Tax - Unrecognized Tax Benefits (Details)
Long-Term Debt And Lines Of Credit
Long-Term Debt And Lines Of Credit (Tables)
Long-Term Debt And Lines Of Credit - Derivative Financial Instruments (Details)
Long-Term Debt And Lines Of Credit - Effect On Other Comprehensive Income (Loss) (Details)
Long-Term Debt And Lines Of Credit - Maturity Requirements On Outstanding Debt (Details)
Long-Term Debt And Lines Of Credit - Narrative (Details)
Long-Term Debt And Lines Of Credit - Summary (Details)
Noncontrolling Interests
Noncontrolling Interests (Tables)
Noncontrolling Interests - Summary (Details)
Other Assets
Other Assets - Narrative (Details)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Summary (Details)
Quarterly Consolidated Financial Information (Unaudited)
Quarterly Consolidated Financial Information (Unaudited) (Tables)
Quarterly Consolidated Financial Information (Unaudited) - Narrative (Details)
Quarterly Consolidated Financial Information (Unaudited) - Schedule Of Summarized Quarterly Results (Details)
Revenues
Revenues (Tables)
Revenues - Disaggregation Of Revenue (Details)
Revenues - Narrative (Details)
Segment Information
Segment Information (Tables)
Segment Information - Assets By Region (Details)
Segment Information - Narrative (Details)
Segment Information - Summary (Details)
Settlement Processing Assets And Obligations
Settlement Processing Assets And Obligations (Tables)
Settlement Processing Assets And Obligations - Summary (Details)
Share-Based Awards And Options
Share-Based Awards And Options (Tables)
Share-Based Awards And Options - Narrative (Details)
Share-Based Awards And Options - Restricted, Performance And Leveraged Units Stock Activity (Details)
Share-Based Awards And Options - Schedule Of Valuation (Details)
Share-Based Awards And Options - Share-Based Compensation Expense (Details)
Share-Based Awards And Options - Stock Option Activity (Details)
Shareholders??? Equity
Shareholders??? Equity (Tables)
Shareholders??? Equity - Narrative (Details)
Shareholders??? Equity - Summary (Details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Tables)
Supplemental Cash Flow Information - Summary (Details)
Ticker: GPN
CIK: 1123360
Form Type: 10-K Annual Report
Accession Number: 0001123360-19-000008
Submitted to the SEC: Thu Feb 21 2019 4:57:37 PM EST
Accepted by the SEC: Thu Feb 21 2019
Period: Monday, December 31, 2018
Industry: Business Services

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