Business Context and Reporting Period
This Form 8-K was filed by Global Payments Inc. on January 15, 2020. The report primarily addresses the completion of the Company's merger with Total System Services, Inc. (TSYS) on September 18, 2019, with Global Payments as the surviving entity. Consequently, TSYS results are included in the consolidated financials from the merger date.
Key Financial Metrics
The filing does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity within the text of this report. Instead, it references Exhibit 99.1, which contains supplemental combined financial information for the first, second, and third quarters of 2019 on a combined basis. These schedules include non-GAAP financial measures adjusted to reflect the merger and changes in reportable segments.
Material Changes
- Merger Completion: The acquisition of TSYS was finalized on September 18, 2019, significantly altering the Company's reportable segments and financial composition.
- Reporting Basis: The Company is presenting supplemental combined financial information to allow shareholders to evaluate operating performance on a pro forma combined basis for Q1, Q2, and Q3 2019.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future outlook, or specific risk factors beyond the standard legal disclaimers. It notes that the supplemental information in Exhibit 99.1 is not deemed "filed" under Section 18 of the Exchange Act and is not incorporated by reference into other filings unless expressly stated.
Investor Verification Checklist
- Review Exhibit 99.1 for the specific supplemental combined financial data for Q1-Q3 2019, as the main text lacks numerical details.
- Verify the specific accounting adjustments made to combine historical Global Payments and TSYS data as described in the notes to the schedules.
- Confirm the impact of the merger on the Company's reportable segments and non-GAAP measures.