Global Payments Inc. Files 2024 10-K

TL;DR

Global Payments dropped its 2024 10-K. All the deets on revenue, debt, and future plans.

AI Summary

Global Payments Inc. filed its 2024 10-K on February 14, 2025, reporting its financial performance for the fiscal year ending December 31, 2024. The filing details the company's business operations, financial condition, and results of operations, including key financial metrics and disclosures required by the SEC. The company is incorporated in Georgia and headquartered in Atlanta.

Why It Matters

This filing provides investors and analysts with a comprehensive overview of Global Payments' financial health and strategic direction for the past fiscal year, influencing investment decisions.

Risk Assessment

Risk Level: medium — This is a standard annual report filing providing historical financial data and disclosures, not indicating new or elevated risks.

Key Numbers

• 2024 — Fiscal Year (The year for which financial performance is reported.)
• 1231 — Fiscal Year End (The closing date of the fiscal year reported.)
• 20250214 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• GLOBAL PAYMENTS INC (company) — Filer of the 10-K
• 0001123360 (company) — Central Index Key for Global Payments Inc.
• 20241231 (date) — Fiscal year end date
• 20250214 (date) — Filing date of the 10-K
• GA (location) — State of incorporation and business address
• ATLANTA (location) — City of business and mail address

FAQ

Key Financial Figures

• $4 billion — ayments, Inc. ("EVO") for approximately $4 billion. EVO is a payment technology and servic
• $1 b — , Inc. ("AdvancedMD") for approximately $1 billion, subject to certain closing adjus
• $125 million — certain closing adjustments, and up to $125 million contingent upon the purchaser achieving
• $1 billion — our Netspend business for approximately $1 billion. Prior to disposition, the consumer bus
• $400 million — f our gaming business for approximately $400 million. Prior to disposition, the gaming busin
• $100.00 — wn below in the sponsorship model, on a $100.00 card transaction the card issuer may fu
• $98.50 — , (indirectly through the card network) $98.50 after retaining $1.50 referred to as an
• $1.50 — he card network) $98.50 after retaining $1.50 referred to as an interchange fee. The
• $2.00 — ove example is 2%, we bill the merchant $2.00 after the end of the month for the tran
• $0.50 — viously funded to the Member and retain $0.50 as our fee for the transaction. Under s
• $98.00 — rrangements, we remit the net amount of $98.00 to the merchant, rather than funding th

Filing Documents

• gpn-20241231.htm (10-K) — 2622KB
• ex47descriptionofregistran.htm (EX-4.7) — 20KB
• ex19insidertradingpolicy.htm (EX-19) — 54KB
• ex211listofsubsidiaries123.htm (EX-21.1) — 16KB
• ex231consent12312024.htm (EX-23.1) — 2KB
• ex241powerofattorney123120.htm (EX-24.1) — 12KB
• ex31112312024.htm (EX-31.1) — 13KB
• ex31212312024.htm (EX-31.2) — 12KB
• ex32112312024.htm (EX-32.1) — 7KB
• gpn-20241231_g1.jpg (GRAPHIC) — 1162KB
• gpn-20241231_g2.jpg (GRAPHIC) — 104KB
• gpn-20241231_g3.jpg (GRAPHIC) — 19KB
• 0001123360-25-000011.txt ( ) — 18609KB
• gpn-20241231.xsd (EX-101.SCH) — 102KB
• gpn-20241231_cal.xml (EX-101.CAL) — 160KB
• gpn-20241231_def.xml (EX-101.DEF) — 569KB
• gpn-20241231_lab.xml (EX-101.LAB) — 1243KB
• gpn-20241231_pre.xml (EX-101.PRE) — 911KB
• gpn-20241231_htm.xml (XML) — 2549KB

RISK FACTORS

ITEM 1A. RISK FACTORS 17

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS 33

CYBERSECURITY

ITEM 1C. CYBERSECURITY 33

PROPERTIES

ITEM 2. PROPERTIES 36

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 36

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 36 PART II

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 36

RESERVED

ITEM 6. RESERVED 38

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 38

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 56

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 58

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 118

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 118

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION 119

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 119 PART III

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 120

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 120

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 120

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 120

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 120 PART IV

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 121

FORM 10-K SUMMARY

ITEM 16. FORM 10-K SUMMARY 125

SIGNATURES

SIGNATURES 126 Table of Contents CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS Some of the statements we use in this report, and in some of the documents we incorporate by reference in this report, contain forward-looking statements concerning our business operations, economic performance and financial condition, including, but not limited to, statements we make regarding our business strategy and means to implement the strategy; measures of future results of operations, such as revenues, expenses, operating margins, income tax rates and earnings per share; other operating metrics such as shares outstanding and capital expenditures, liquidity, deleveraging plans and capital available for allocation; statements we make regarding guidance and projected financial results for the year 2025; the effects of general economic conditions on our business; statements about the benefits of our acquisitions or dispositions, including future financial and operating results and the successful integration of acquisitions, statements about the completion of anticipated benefits or strategic or operational initiatives; statements regarding our success and timing in developing and introducing new services and expanding our business; and other statements regarding our future financial performance and our plans, objectives, expectations and intentions. You can sometimes identify forward-looking statements by our use of the words "believes," "anticipates," "expects," "intends," "plan," "forecast," "guidance" and similar expressions. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Although we believe that the plans and expectations reflected in or suggested by our forward-looking statements are reasonable, those statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, uncertainties and

- BUSINESS

ITEM 1 - BUSINESS Global Payments Inc. and its consolidated subsidiaries are referred to collectively as "Global Payments," the "Company," "we," "our" or "us," unless the context requires otherwise. Introduction We are a leading payments technology company delivering innovative software and services to our customers globally, with worldwide reach spanning North America, Europe, Asia-Pacific and Latin America. The payments technology industry provides financial institutions, businesses and consumers with payment processing services, merchant acceptance solutions and related information and other value-added services. Our technologies, services and team member expertise allow us to provide a broad range of solutions that enable our customers to operate their businesses more efficiently across a variety of channels around the world. Headquartered in Georgia with approximately 27,000 team members worldwide, Global Payments is a Fortune 500 company and is a member of the S&P 500. Our common stock is traded on the New York Stock Exchange under the symbol "GPN." Business Segments We operate in two reportable segments: Merchant Solutions and Issuer Solutions. During the second quarter of 2023, we completed the sale of the consumer portion of our Netspend business, which comprised our former Consumer Solutions segment. See "Note 18—Segment Information" in the notes to the accompanying consolidated financial statements for additional information about our segments, including revenues, operating expenses, operating income and depreciation and amortization by segment, as well as financial information about geographic areas in which we operate. Business Transformation Early in 2024, we launched a holistic review of our business to examine our strategy, operations and ability to deliver sustainable performance. We have refreshed our strategy and are focusing our resources, efforts and investments on the areas of the business that will drive the best opportunities fo

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View this 10-K filing on SEC EDGAR