$GPN

GLOBAL PAYMENTS INC

CIK:0001123360|SEC Filings

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 3,320,791	$ 1,969,287	$ 6,290,473	$ 3,789,605
Operating expenses:
Cost of service	1,293,879	501,772	2,567,493	996,947
Selling, general and administrative	1,689,791	1,041,256	3,401,505	1,998,433
Impairment of goodwill	0	33,218	0	33,218
Gain on business disposition	0	(267)	0	(4,260)
Total costs and expenses	2,983,670	1,575,979	5,968,998	3,024,338
Operating income	337,121	393,308	321,475	765,267
Interest and other income	44,700	35,533	78,220	73,573
Interest and other expense	(277,538)	(152,538)	(519,907)	(301,078)
Total nonoperating income (expense)	(232,838)	(117,005)	(441,687)	(227,505)
Income from continuing operations before income taxes and equity in income of equity method investments	104,283	276,303	(120,212)	537,762
Income tax expense (benefit)	(4,926)	40,877	(16,766)	84,647
Income from continuing operations before equity in income of equity method investments	109,209	235,426	(103,446)	453,115
Equity in income of equity method investments, net of tax	21,678	19,961	41,508	38,210
Income from continuing operations	130,887	255,387	(61,938)	491,325
Loss from discontinued operations, net of tax	(101,963)	(9,289)	(1,688,190)	67,545
Net income	28,924	246,098	(1,750,128)	558,870
Net income attributable to noncontrolling interests	(15,953)	(4,458)	(36,779)	(11,496)
Net income attributable to Global Payments	$ 12,971	$ 241,640	$ (1,786,907)	$ 547,374
Basic earnings per share attributable to Global Payments:
Continuing operations (in USD per share)	$ 0.43	$ 1.03	$ (0.36)	$ 1.96
Discontinued operations (in USD per share)	(0.38)	(0.04)	(6.22)	0.27
Total basic earnings per share attributable to Global Payments	0.05	0.99	(6.58)	2.23
Diluted earnings per share attributable to Global Payments:
Continuing operations (in USD per share)	0.43	1.03	(0.36)	1.96
Discontinued operations (in USD per share)	(0.38)	(0.04)	(6.22)	0.27
Total diluted earnings per share attributable to Global Payments	$ 0.05	$ 0.99	$ (6.58)	$ 2.23

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ (1,750,128)	$ 558,870
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization of property and equipment	244,072	225,105
Amortization of acquired intangibles	1,504,738	551,074
Amortization of capitalized contract costs	51,796	66,966
Share-based compensation expense	57,193	79,550
Provision for operating losses and credit losses	72,783	41,880
Noncash lease expense	35,612	25,163
Deferred income taxes	(881,242)	95,584
Paid-in-kind interest capitalized to principal of notes receivable	(33,396)	(38,961)
Equity in income of equity method investments, net of tax	(41,531)	(38,299)
Distributions received on investments	0	7,512
Impairment of goodwill	0	33,218
Gain on business disposition	(22,174)	(4,260)
Other, net	49,937	19,621
Changes in operating assets and liabilities, net of the effects of business combinations:
Accounts receivable	(141,531)	(102,565)
Prepaid expenses and other assets	(288,990)	(124,058)
Income taxes payable	2,333,824	(15,461)
Accounts payable and other liabilities	(817,165)	(8,290)
Net cash provided by operating activities	373,798	1,372,649
Cash flows from investing activities:
Business combinations and other acquisitions, net of cash and restricted cash acquired	(1,421,470)	(205,825)
Capital expenditures	(497,000)	(279,747)
Principal payment received on notes receivable	8,750	8,750
Net cash from sales of businesses	7,362,347	0
Net cash provided by (used in) investing activities	5,452,627	(476,822)
Cash flows from financing activities:
Changes in funds held for customers	(24,077)	(118,967)
Changes in settlement processing assets and obligations, net	(694,176)	630,244
Net borrowings from settlement lines of credit	827,464	87,551
Net borrowings from commercial paper notes	674,393	797,732
Proceeds from long-term debt	9,331,133	2,755,112
Repayments of long-term debt	(18,055,394)	(3,769,614)
Payments of debt issuance costs	(9,798)	(40,512)
Repurchases of common stock	(1,099,942)	(691,089)
Proceeds from stock issued under share-based compensation plans	12,331	16,244
Common stock repurchased - share-based compensation plans	(33,795)	(37,372)
Distributions to noncontrolling interests	(37,781)	(30,095)
Dividends paid	(134,717)	(121,501)
Net cash used in financing activities	(9,244,359)	(522,267)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(5,586)	230,353
Increase (decrease) in cash, cash equivalents and restricted cash	(3,423,520)	603,913
Cash, cash equivalents and restricted cash, beginning of the period	9,116,414	2,735,975
Cash, cash equivalents and restricted cash, end of the period	$ 5,692,894	$ 3,339,888

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 5,408,962	$ 8,336,402
Accounts receivable, net	1,576,986	784,174
Settlement processing assets	3,619,252	1,476,543
Prepaid expenses and other current assets	1,064,631	802,018
Current assets of discontinued operations	0	1,203,534
Total current assets	11,669,831	12,602,671
Goodwill	26,984,810	17,076,624
Other intangible assets, net	19,409,900	4,231,227
Property and equipment, net	2,134,832	1,501,763
Deferred income taxes	344,836	171,430
Notes receivable	842,739	816,810
Other noncurrent assets	2,186,839	1,868,788
Noncurrent assets of discontinued operations	0	15,069,171
Total assets	63,573,787	53,338,484
Current liabilities:
Settlement lines of credit	1,136,764	345,007
Current portion of long-term debt	925,032	1,920,792
Accounts payable and accrued liabilities	3,707,246	2,542,627
Settlement processing obligations	5,934,765	1,720,608
Income taxes payable	2,449,991	117,509
Current liabilities of discontinued operations	0	810,301
Total current liabilities	14,153,798	7,456,844
Long-term debt	21,493,294	19,541,512
Deferred income taxes	2,887,172	1,605,504
Other noncurrent liabilities	1,069,873	522,121
Noncurrent liabilities of discontinued operations	0	433,022
Total liabilities	39,604,137	29,559,003
Commitments and contingencies
Redeemable noncontrolling interests	210,757	201,003
Equity:
Preferred stock, no par value; 5,000,000 shares authorized and none issued	0	0
Common stock, no par value; 400,000,000 shares authorized at June 30, 2026 and December 31, 2025; 265,811,863 shares issued and outstanding at June 30, 2026 and 236,692,592 shares issued and outstanding at December 31, 2025	0	0
Paid-in capital	19,405,166	17,078,652
Retained earnings	4,014,698	5,936,322
Accumulated other comprehensive loss	(309,157)	(126,207)
Total Global Payments shareholders’ equity	23,110,707	22,888,767
Nonredeemable noncontrolling interests	648,186	689,711
Total equity	23,758,893	23,578,478
Total liabilities, redeemable noncontrolling interests and equity	$ 63,573,787	$ 53,338,484