Item 6. SELECTED FINANCIAL DATA

5K characters. Original on sec.gov · Markdown

Item 6. SELECTED FINANCIAL DATA

You should read the selected financial data set forth below in conjunction with (i) "Item 7 ‑ Management's Discussion and Analysis of Financial Condition and Results of Operations," (ii) "Item 8 ‑ Financial Statements and Supplementary Data" and (iii) the historical consolidated financial statements of Global Payments and the related notes presented in this Annual Report on Form 10-K. The income statement data for the year ended December 31, 2017, the 2016 fiscal transition period and the years ended May 31, 2016 and 2015 and the balance sheet data as of December 31, 2017 and 2016 are derived from the audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K. The income statement data for the year ended May 31, 2014 and the balance sheet data as of May 31, 2016 and 2015 were derived from consolidated financial statements included in our Transition Report on Form 10-K for the fiscal transition period ended December 31, 2016. The income statement data for the year ended May 31, 2013 and the balance sheet data as of May 31, 2014 were derived from audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended May 31, 2015. The balance sheet data as of May 31, 2013 were derived from the audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended May 31, 2014.



	Year Ended December 31,		Seven Months Ended December 31,		Year Ended May 31,
	2017		2016		2016		2015		2014		2013

	(in thousands, except per share data)
Income statement data:
Revenues	$	3,975,163	$	2,202,896	$	2,898,150	$	2,773,718	$	2,554,236	$	2,375,923
Operating income	558,868		237,951		424,944		456,597		405,499		357,213
Net income	494,070		137,683		290,217		309,115		269,952		238,713
Net income attributable to Global Payments	468,425		124,931		271,666		278,040		245,286		216,125

Per share data:
Basic earnings per share	$	3.03	$	0.81	$	2.05	$	2.07	$	1.70	$	1.39
Diluted earnings per share	3.01		0.81		2.04		2.06		1.69		1.38
Dividends per share	0.04		0.02		0.04		0.04		0.04		0.04

Balance sheet data (at period end):
Total assets	$	12,998,069	$	10,664,350	$	10,509,952	$	5,779,301	$	4,002,527	$	3,114,025
Settlement lines of credit	635,166		392,072		378,436		592,629		440,128		187,461
Long-term debt	4,659,716		4,438,612		4,515,286		1,740,067		1,390,507		960,749
Total equity	3,965,231		2,779,342		2,877,404		863,553		1,132,799		1,286,607

The selected financial data in the table above reflect the effects of acquisitions and borrowings to fund certain of those acquisitions. See "Note 2—Acquisitions" in the notes to the accompanying consolidated financial statements for further discussion of our acquisitions.

Operating income, net income, net income attributable to Global Payments and basic and diluted earnings per share in the table above reflect:

(a) acquisition and integration expenses were $94.6 million for the year ended December 31, 2017, $91.6 million for the 2016 fiscal transition period and $51.3 million for the year ended May 31, 2016; and,

(b) a credit of $7.0 million during the year ended May 31, 2014 and a charge of $36.8 million for the year ended May 31, 2013 related to a processing system intrusion that occurred in the year ended May 31, 2012.

Net income, net income attributable to Global Payments and basic and diluted earnings per share in the table above reflect:

(a) a provisional net income tax benefit of $158.7 million recorded in connection with the 2017 U.S. Tax Act. See "Note 9—Income Tax" in the notes to the accompanying consolidated financial statements for further discussion; and,

(b) a gain of $41.2 million recorded in connection with the sale of our membership interests in Visa Europe Limited ("Visa Europe") for the seven months ended December 31, 2016.

Previous: Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES · Next: Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS