A Dark Vector Cognition product

Cover and table of contents

12K characters. Original on sec.gov · Markdown

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, 2025

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. ☐

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 May 1, 2025 was 243,880,022.

Table of Contents

GLOBAL PAYMENTS INC.

FORM 10-Q

For the quarterly period ended March 31, 2025

TABLE OF CONTENTS

Page
PART I - FINANCIAL INFORMATION
ITEM 1.Unaudited Consolidated Statements of Income for the three months ended March 31, 2025 and 20243
Unaudited Consolidated Statements of Comprehensive Income for the three months ended March 31, 2025 and 20244
Consolidated Balance Sheets at March 31, 2025 (unaudited) and December 31, 20245
Unaudited Consolidated Statements of Cash Flows for the three months ended March 31, 2025 and 20246
Unaudited Consolidated Statements of Changes in Equity for the three months ended March 31, 2025 and 20247
Notes to Unaudited Consolidated Financial Statements8
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies8
Note 2 - Business Dispositions9
Note 3 - Revenues10
Note 4 - Goodwill and Other Intangible Assets12
Note 5 - Long-term Debt and Lines of Credit13
Note 6 - Derivatives and Hedging Instruments15
Note 7 - Income Tax17
Note 8 - Redeemable Noncontrolling Interests17
Note 9 - Shareholders' Equity18
Note 10 - Share-based Awards and Stock Options18
Note 11 - Earnings per Share20
Note 12 - Supplemental Balance Sheet Information20
Note 13 - Accumulated Other Comprehensive Loss22
Note 14 - Segment Information22
Note 15 - Commitments and Contingencies24
ITEM 2.Management's Discussion and Analysis of Financial Condition and Results of Operations25
ITEM 3.Quantitative and Qualitative Disclosures About Market Risk36
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 3.Defaults Upon Senior Securities38
ITEM 4.Mine Safety Disclosures38
ITEM 5.Other Information38
ITEM 6.Exhibits39
Signatures40

Table of Contents

PART I—FINANCIAL INFORMATION

Next: Item 1. FINANCIAL STATEMENTS