Global Payments Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits
$GPN
Business Services
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 6, 2025
Commission file number 001-16111
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Item 2.02. Results of Operations and Financial Condition
On May 6, 2025, Global Payments Inc. (the "Company" or "Global Payments") issued a press release announcing its financial results for the quarter ended March 31, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K (this "Report") and is incorporated herein by reference.
The Company is also furnishing certain supplemental non-GAAP financial information set forth in Exhibit 99.2 to this Report to provide historical amounts that reflect a change in presentation for certain of the Company's non-GAAP financial measures. During the first quarter of 2025, management elected to include the effect of share-based compensation expense in the Company's non-GAAP financial measures. The Company believes this change will enhance its shareholders’ ability to evaluate the Company's operating performance and better align the Company's reporting convention with its peers. The information included in Exhibit 99.2 presents the recasted non-GAAP financial information for the year ended December 31, 2024, including each quarterly reporting period. This change in presentation has no effect on any of the Company’s previously reported U.S. GAAP results for any period.
In addition, the Company is furnishing certain supplemental GAAP financial information set forth in Exhibit 99.3 to this Report to reflect the retrospective effects of a change in presentation for certain cash flow activity. During the first quarter of 2025, management elected to change the Company's presentation of cash flows associated with "Changes in settlement processing assets and obligations, net" and "Changes in funds held for customers" from operating activities to financing activities within the consolidated statements of cash flows. The change has been applied retrospectively and the prior periods have been conformed to the current period presentation. The information included in Exhibit 99.3 presents the recasted GAAP financial information for the years ended December 31, 2024 and 2023 and for each interim year-to-date quarterly period within 2024. This change has no effect on the Company's consolidated statements of income, consolidated statements of comprehensive income, consolidated balance sheets or consolidated statements of changes in equity or on any of the Company's previously reported cash, cash equivalents and restricted cash balances within the consolidated statements of cash flows.
The information being furnished pursuant to Item 2.02 of this Report, including Exhibit 99.1, Exhibit 99.2 and Exhibit 99.3, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description | ||||
| 99.1 | |||||
| 99.2 | |||||
| 99.3 | |||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | ||||
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| GLOBAL PAYMENTS INC. | |||||||||||
| Date: | May 6, 2025 | By: /s/ Joshua J. Whipple | |||||||||
| Joshua J. Whipple | |||||||||||
| Chief Financial Officer | |||||||||||