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Cover and table of contents

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2023

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number: 001-16111

GlobalPayments_Wordmark_CMYK.jpg

GLOBAL PAYMENTS INC.

(Exact name of registrant as specified in charter)

Georgia58-2567903
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
3550 Lenox Road, Atlanta, Georgia30326
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (770) 829-8000

Securities registered pursuant to Section 12(b) of the Act
Title of each classTrading symbolName of exchange on which registered
Common stock, no par valueGPNNew York Stock Exchange
4.875% Senior Notes due 2031GPN31ANew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer☑Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes☐No☑

The number of shares of the issuer’s common stock, no par value, outstanding as of April 26, 2023 was 261,953,137.

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GLOBAL PAYMENTS INC.

FORM 10-Q

For the quarterly period ended March 31, 2023

TABLE OF CONTENTS

Page
PART I - FINANCIAL INFORMATION
ITEM 1.Unaudited Consolidated Statements of Income for the three months ended March 31, 2023 and 20224
Unaudited Consolidated Statements of Comprehensive Income for the three months ended March 31, 2023 and 20225
Consolidated Balance Sheets at March 31, 2023 (unaudited) and December 31, 20226
Unaudited Consolidated Statements of Cash Flows for the three months ended March 31, 2023 and 20227
Unaudited Consolidated Statements of Changes in Equity for the three months ended March 31, 2023 and 20228
Notes to Unaudited Consolidated Financial Statements9
ITEM 2.Management's Discussion and Analysis of Financial Condition and Results of Operations26
ITEM 3.Quantitative and Qualitative Disclosures About Market Risk35
ITEM 4.Controls and Procedures36
PART II - OTHER INFORMATION
ITEM 1.Legal Proceedings37
ITEM 1A.Risk Factors37
ITEM 2.Unregistered Sales of Equity Securities and Use of Proceeds38
ITEM 6.Exhibits39
Signatures40

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PART I - FINANCIAL INFORMATION

Next: Item 1. FINANCIAL STATEMENTS