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Total System Services Inc (TSS) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Total System Services Inc

CIK: 721683 Ticker: TSS

 

 

Exhibit 99.1

 

 

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TSYS Reports Fourth Quarter and Full Year Earnings

Provides 2019 Outlook for Revenue and Earnings per Share

 

Columbus, Ga., January 29, 2019  –

TSYS (NYSE:  TSS) today reported results for the fourth quarter and full year of 2018.

 “Strong results in the fourth quarter closed out another exceptional year for our company. In 2018, we delivered outstanding financial results, expanded our Merchant capabilities with the acquisition of Cayan and iMobile3, and continued to make strategic long-term investments across the enterprise,” said M. Troy Woods, chairman, president and chief executive officer of TSYS.

 

Highlights for the fourth quarter of 2018 vs. 2017:

·

Total revenues were $1.02 billion, a decrease of 20.0%. The decrease is the result of adopting ASC 606.(1)

·

Net revenue (non-GAAP), which excludes reimbursable items, interchange and payment network fees, was $959.3 million, an increase of 10.2%.

·

Net income attributable to TSYS common shareholders was $136.4 million, a decrease of 43.7%.  The decrease is the result of $135.9 million of tax benefit from the Tax Cuts and Jobs Act in 4Q 2017. Diluted EPS were $0.74, a decrease of 43.4%.

·

Adjusted earnings (non-GAAP) were $197.5 million, an increase of 30.8%.  Adjusted diluted EPS (non-GAAP) were $1.08, an increase of  31.5%.

·

Adjusted EBITDA (non-GAAP) was $346.0 million, an increase of 18.0%.

 

 


The following information was filed by Total System Services Inc (TSS) on Tuesday, January 29, 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
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
Accumulated Other Comprehensive Loss (Aocl)
Accumulated Other Comprehensive Loss (Aocl) (Details)
Accumulated Other Comprehensive Loss (Aocl) (Tables)
Acquisitions
Acquisitions (Tables)
Acquisitions - (Details)
Acquisitions - Cayan (Details)
Acquisitions - Cayan - Consideration And Recognized Assets And Liabilities (Details)
Acquisitions - Cayan - Identifiable Intangible Assets (Details)
Acquisitions - Emea (Details)
Acquisitions - Imobile3 (Details)
Acquisitions - Redeemable Noncontrolling Interest (Details)
Acquisitions - Transfirst - Acquisition Costs And Actual Operating Results Since Acquisition (Details)
Acquisitions - Transfirst - Goodwill Decrease (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies - Adoption Of Asu (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Equity Method Investments (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Estimated Useful Lives Of Other Intangible Assets And Computer Software Intangible Assets (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Estimated Useful Lives Of Property And Equipment (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Forfeiture Rates Of Share-Based Awards And Advertising Expense (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Goodwill (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Loss Provisions (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Operating Segments (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Restricted Cash (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Revenue (Details)
Cash And Cash Equivalents
Cash And Cash Equivalents (Details)
Cash And Cash Equivalents (Tables)
Collaborative Arrangement
Collaborative Arrangement (Details)
Commitments And Contingencies (Tables)
Commitments And Contingencies - Guarantees And Indemnifications (Details)
Commitments And Contingencies - Lease And Purchase Commitments (Details)
Commitments And Contingencies - Private Equity Investments (Details)
Contract Cost Assets, Net
Contract Cost Assets, Net (Tables)
Contract Cost Assets, Net - Amortization Expense (Details) (Details)
Contract Cost Assets, Net - Estimated Future Amortization On Payments For Processing And Conversion (Details)
Contract Cost Assets, Net - Significant Components (Details) (Details)
Contract Cost Assets, Net - Weighted Average Useful Life (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Anti-Dilutive Securities (Details)
Earnings Per Share - Common Stock (Details)
Employee Benefit Plans
Employee Benefit Plans (Details)
Employee Benefit Plans (Tables)
Equity
Equity (Tables)
Equity - Equity Compensation Plans (Details)
Equity -Dividends (Details)
Equity Investments
Equity Investments (Tables)
Equity Investments - Ownership And Contributions (Details)
Equity Investments -Equity In Income And Carrying Amounts (Details)
Fair Value Measurement
Fair Value Measurement - Changes In Fair Value Levels (Details)
Fair Value Measurement - Goodwill And Impairment Testing (Details)
Goodwill
Goodwill (Tables)
Goodwill - Changes From Acquisitions (Details)
Goodwill - Changes From Acquisitions (Details)
Goodwill - Changes In Carrying Value By Segment (Details)
Goodwill - Gross Amount And Accumulated Impairment Losses By Segment (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of Expense (Details)
Income Taxes - Components Of Income Before Income Tax Expense (Details)
Income Taxes - Effective Tax Rate And Unrecognized Tax Benefits (Details)
Income Taxes - Reconciliation To Amount Computed By Applying Statutory Tax Rate (Details)
Income Taxes - Significant Net Deferred Tax Liability Components (Details)
Income Taxes - Tax Cuts And Jobs Act Of 2017 (Details)
Income Taxes - Undistributed Earnings Of Foreign Subsidiaries (Detail)
Intangible Assets - Computer Software, Net
Intangible Assets - Computer Software, Net (Tables)
Intangible Assets - Computer Software, Net - Amortization Expense (Details)
Intangible Assets - Computer Software, Net - Estimated Future Amortization Expense (Details)
Intangible Assets - Computer Software, Net - License Agreements (Details)
Intangible Assets - Computer Software, Net - Summary (Details)
Intangible Assets - Computer Software, Net - Weighted Average Useful Life (Details)
Long-Term Borrowings, Capital Lease Obligations And License Agreements
Long-Term Borrowings, Capital Lease Obligations And License Agreements (Tables)
Long-Term Borrowings, Capital Lease Obligations And License Agreements - 2016 Credit Agreement (Details)
Long-Term Borrowings, Capital Lease Obligations And License Agreements - Annual Principal Payments On Long-Term Debt (Details)
Long-Term Borrowings, Capital Lease Obligations And License Agreements - Capital Lease Obligations And License Agreements (Details)
Long-Term Borrowings, Capital Lease Obligations And License Agreements - Fair Value Of Senior Notes (Details)
Long-Term Borrowings, Capital Lease Obligations And License Agreements - Future Minimum Lease Payments Under Capital Leases And License Agreements (Details)
Long-Term Borrowings, Capital Lease Obligations And License Agreements - Senior Credit Facility And Other Borrowings (Details)
Long-Term Borrowings, Capital Lease Obligations And License Agreements - Summary Of Long-Term Debt (Details)
Long-Term Borrowings, Capital Lease Obligations And License Agreements - Term Loan Facility (Details)
Other Current Liabilities
Other Current Liabilities (Details)
Other Current Liabilities (Tables)
Other Intangible Assets, Net
Other Intangible Assets, Net (Tables)
Other Intangible Assets, Net - Amortization Expense (Details)
Other Intangible Assets, Net - Estimated Future Amortization Expense (Details)
Other Intangible Assets, Net - Significant Components (Details)
Other Intangible Assets, Net - Weighted Average Useful Life (Details)
Prepaid Expenses And Other Current Assets
Prepaid Expenses And Other Current Assets (Details)
Prepaid Expenses And Other Current Assets (Tables)
Property And Equipment, Net
Property And Equipment, Net (Tables)
Property And Equipment, Net - Amounts Under Capital Lease Obligations (Details)
Property And Equipment, Net - Balances (Details)
Property And Equipment, Net - Depreciation And Amortization Expense (Details)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers - (Details)
Revenue From Contracts With Customers - Changes In Contract Assets And Liabilities (Details)
Revenue From Contracts With Customers - Contract Balances (Details)
Revenue From Contracts With Customers - Disaggregated Revenue (Details)
Revenue From Contracts With Customers - Impact Of New Guidance On Financial Statements (Details)
Revenue From Contracts With Customers - Performance Obligation (Details)
Schedule Ii Schedule - Valuation And Qualifying Accounts
Schedule Ii Schedule - Valuation And Qualifying Accounts (Details)
Segment Reporting And Major Customers
Segment Reporting And Major Customers (Tables)
Segment Reporting And Major Customers - Depreciation And Amortization (Details)
Segment Reporting And Major Customers - Geographic Revenues To External Revenues (Details)
Segment Reporting And Major Customers - Operating Results (Details)
Segment Reporting And Major Customers - Property And Equipment, Net (Details)
Segment Reporting And Major Customers - Total Assets By Segment (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Expense (Details)
Share-Based Compensation - General (Detail)
Share-Based Compensation - Nonvested Awards - Activity And Unrecognized Compensation Cost (Details)
Share-Based Compensation - Nonvested Awards - Vesting And Grants Cost (Details)
Share-Based Compensation - Performance And Market- Based Awards Granted (Details)
Share-Based Compensation - Performance And Market-Based Awards Authorized (Details)
Share-Based Compensation - Performance And Market-Based Nonvested Activity (Details)
Share-Based Compensation - Stock Option Activity (Details)
Share-Based Compensation - Stock Option Award Unrecognized Compensation Cost (Details)
Share-Based Compensation - Stock Option Award Vesting And Weighted Average Assumptions (Details)
Subsequent Events
Summary Of Significant Accounting Policies (Policies)
Supplementary Cash Flow Information
Supplementary Cash Flow Information (Details)
Treasury Stock
Treasury Stock (Tables)
Treasury Stock - Share Withholding For Taxes (Details)
Treasury Stock - Stock Repurchase Plans And Repurchases By Year (Details)
Treasury Stock - Summary And Related Carrying Value (Details)
Ticker: TSS
CIK: 721683
Form Type: 10-K Annual Report
Accession Number: 0001558370-19-000862
Submitted to the SEC: Thu Feb 21 2019 5:23:25 PM EST
Accepted by the SEC: Thu Feb 21 2019
Period: Monday, December 31, 2018
Industry: Business Services

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