Latest news with #Bready
BBC News
5 days ago
- Health
- BBC News
Adair returns for T20 series but injured trio ruled out
Mark Adair has returned to the Ireland squad for the three-match T20 series against the West Indies at Bready, but Craig Young, Curtis Campher and Gareth Delany have been ruled out. Pace bowler Adair returns from injury after missing the recent one-day international series against the same opposition, which ended in a draw. Bowler Young and all-rounder Campher were also absent for those games and have not recovered sufficiently to take their place in the squad for the them on the sidelines is another all-rounder, Gareth Delany, who sustained an injury in a club game on Monday into the squad are Tim Tector, Stephen Doheny and spin bowler Gavin 22, made his international debut against Zimbabwe in February and is the younger brother of experienced batter 26, played three T20Is against Zimbabwe in January 2023, while 23-year-old Hoey participated in two ODIs in 2024, but has not played T20I cricket T20 encounters will be played on Thursday 12 June, Saturday 14 June and Sunday 15 national men's selector Andrew White said injuries to key players had made it "a trying period of late"."Both the recent ODI series, and this month's T20I series, against West Indies have really tested the strength of depth in our talent pool," said White."While we never like to see a player injured, such circumstances do offer an opportunity for other players to step up and demonstrate their talent."With the next Men's T20 World Cup approaching in February 2026, this series is an important part of preparing the squad for the challenge and will serve as a good barometer of where we are at."Ireland squad for West Indies T20I series: Paul Stirling (capt) , Mark Adair, Ross Adair, Gavin Hoey, George Dockrell, Stephen Doheny, Matthew Humphreys, Josh Little, Barry McCarthy, Liam McCarthy, Harry Tector, Tim Tector, Lorcan Tucker, Ben White.
Int'l Cricket Council
7 days ago
- General
- Int'l Cricket Council
West Indies name T20I squads as big name misses out
The tour will begin with a three-match T20I series against England from June 6 to June 10, followed by another three-T20I series against Ireland from June 12 to June 15. The England series will mark Shai Hope's first assignment as the T20I skipper of the West Indies. Veteran all-rounder Jason Holder returns to the T20I setup after last featuring in February 2024, while explosive all-rounder Andre Russell has also been named for the England leg of the series, making a comeback after injury cut short his last appearance against England in Barbados. Nicholas Pooran has been rested for both series following an extended campaign in the Indian Premier League 2025. A hat-trick of sixes from Shai Hope | T20WC 2024 West Indies batter Shai Hope hits three sixes in a row against USA at the ICC Men's T20 World Cup 2024. Test captain Roston Chase will feature in the England series before departing for the Test squad camp ahead of the upcoming Test series against Australia. He will be replaced for the Ireland leg by Jyd Goolie, a promising left-hander who earns his maiden call-up to the senior team after an impressive domestic season. Brandon King, who will serve as vice-captain against England, will miss the Ireland series due to personal commitments. Keacy Carty comes in as his replacement. Head Coach Daren Sammy and his assistants Floyd Reifer and Ravi Rampaul will leave the white-ball squad after the England series to prepare the Test team for the upcoming red-ball challenge against Australia that will mark the beginning of the next World Test Championship cycle for the two sides. Veteran coach Rayon Griffith will assume duties as interim head coach for the Ireland T20Is. Andre Russell gets his 50th T20I wicket | WI v PNG | T20WC 2024 Squad for T20Is v England Shai Hope (Captain), Johnson Charles, Roston Chase, Matthew Forde, Shimron Hetmyer, Jason Holder, Akeal Hosein, Alzarri Joseph, Brandon King, Evin Lewis, Gudakesh Motie, Rovman Powell, Andre Russell, Sherfane Rutherford, Romario Shepherd Squad for T20Is v Ireland Shai Hope (Captain), Keacy Carty, Johnson Charles, Matthew Forde, Jyd Goolie, Shimron Hetmyer, Jason Holder, Akeal Hosein, Alzarri Joseph, Evin Lewis, Gudakesh Motie, Rovman Powell, Sherfane Rutherford, Romario Shepherd T20I series schedule v England First T20I: Friday, June 6 – Chester-Le-Street, Durham Second T20I: Sunday, June 8 – Bristol Third T20I: Tuesday, June 10 – Southampton T20I series schedule v Ireland First T20I: Thursday, June 12 – Bready Second T20I: Saturday, June 14 – Bready Third T20I: Sunday, June 15 – Bready
Yahoo
19-05-2025
- Sport
- Yahoo
West Indies in Ireland 2025
May 21 1st ODI, Clontarf Play starts at 10:00 BST Scorecard 23 2nd ODI, Clontarf (10:00 BST) 25 3rd ODI, Clontarf (10:00 BST) West Indies then tour England between 29 May and 10 June, playing three ODIs and three Twenty20 internationals, before returning to Ireland. June 12 1st Twenty20 international, Bready (11:00 BST) 14 2nd Twenty20 international, Bready (11:00 BST) 15 3rd Twenty20 international, Bready (11:00 BST) NB Fixtures and start times are subject to change. The BBC is not responsible for any changes that may be made Get cricket news sent straight to your phone
BBC News
14-05-2025
- Sport
- BBC News
Ireland name uncapped trio for West Indies games
Ireland have included uncapped trio Cade Carmichael, Tom Mayes and Liam McCarthy in a 14-man squad for the one-day series against West Indies at Clontarf later this Adair has been ruled out of the ODIs by injury but has been named in another 14-man squad selected for next month's three T20 contests against West Indies which will take place at two white-ball series will be West Indies' first games in Ireland since Stirling will captain Ireland in both series with the squads including Indian Premier League player Josh Little after he returned for the white-ball contests in Zimbabwe in Carmichael, who plays for Instonians and the Northern Knights, has impressed for the Ireland Wolves while McCarthy and Mayes will offer Heinrich Malan's squad new seam options in the ODIs which will be played on 21, 23 and 25 May at the Dublin venue. McCarthy remains in the Ireland squad for the T20s which which take place in the North West on 12, 14 and 15 June. Ireland coach Malan has previously enjoyed guiding the team to successes over West months after his appointment, Ireland secured a 2-1 ODI series win over West Indies in June 2022 before an eye-catching T20 World Cup victory over the same opponents in Hobart later that West Indies are far from the world-leading force they were in the 1970s and 1980s, Malan is still expecting tough challenges against squads laden with players who compete in all the globe's top franchise leagues."Obviously they have been very successful in the past and I think they've got a real push on to try and get back to those days. So we're looking forward to a very competitive series and hopefully it will be six good games of cricket."The last time we played them was in Hobart and we managed to get across the line and that gives us a nice bit of confidence." Ireland's shock 1969 win The last time West Indies visited the North West to take on Ireland was way back in 1969 with the hosts claiming a shock nine-wicket win at Sion Mills after bowling the tourists out for just 25 story goes that some good old Irish hospitality may have affected the West Indies performance 56 years ago, as Malan jokingly alluded to on Wednesday."It's no pressure on the lads up there in the North West to make sure that they have a good couple of nights when we arrive," smiled the Ireland coach. "But we are looking forward to playing at Bready against them."From a T20 perspective they've shown that they've got some real power with both the bat and the ball so we'll have our work cut out for us but we are looking forward to the challenge."
Business Wire
06-05-2025
- Business
- Business Wire
Global Payments Reports First Quarter 2025 Results
ATLANTA--(BUSINESS WIRE)--Global Payments Inc. (NYSE: GPN) today announced results for the first quarter ended March 31, 2025. "We delivered solid financial results this quarter, reflecting the resilience of our business and consistent execution of our strategic priorities, despite incremental economic uncertainty during the period,' said Cameron Bready, chief executive officer. Share "We delivered solid financial results this quarter, reflecting the resilience of our business and consistent execution of our strategic priorities, despite incremental economic uncertainty during the period,' said Cameron Bready, chief executive officer. "As importantly, we continue to make meaningful progress on our operational transformation initiatives, which are enhancing our efficiency, streamlining our business, elevating client experiences and positioning us for long-term success.' Bready continued, 'The agreements we announced in April to acquire Worldpay and divest Issuer Solutions will sharpen our focus and accelerate our strategy. We have a tremendous opportunity to drive substantial revenue and cost synergies from the transaction as we amplify our collective go-to-market strengths and simplify our business to become a pure play merchant solutions provider with significantly expanded capabilities, extensive scale and greater market access. The transaction will drive an enhanced financial profile for the combined enterprise and unlock long-term value for our shareholders. "The realignment of our operating model and business structure, together with our transformation will position us with a strong foundation to integrate Worldpay. We are excited about the upcoming launch of Genius later this month, and are continuing to implement our salesforce of the future initiative. Additionally, our unified technology organization is already delivering improved speed to market for new products and enhanced productivity, while providing the scalability, reliability and security that have long been hallmarks of our business.' Bready concluded, 'As we look ahead, we are more confident than ever that we are taking the right steps to reach our goal of becoming the worldwide partner of choice for commerce solutions.' First Quarter 2025 Summary GAAP revenues were $2.41 billion, compared to $2.42 billion in 2024; diluted EPS were $1.24, compared to $1.22 in the prior year; and operating margin was 19.5%, compared to 18.7% in the prior year. Adjusted net revenues increased 1% (5% constant currency excluding dispositions) to $2.20 billion, compared to $2.18 billion in the first quarter of 2024. Adjusted EPS including share-based compensation expense increased 9% (11% constant currency) to $2.69, compared to $2.46 in the first quarter of 2024; adjusted EPS excluding share-based compensation expense of $2.82. Adjusted operating margin expanded 70 basis points to 42.4%. 2025 Outlook 'We are pleased with our positive start to the year, which included constant currency growth for both our Merchant and Issuer businesses, excluding dispositions, consistent with where we exited 2024 despite heightened market volatility," said Josh Whipple, chief financial officer. Whipple continued, "For the full year 2025, we continue to expect constant currency adjusted net revenue growth to be in a range of 5% to 6%, excluding dispositions, and constant currency adjusted earnings per share growth to be in a range of 10% to 11%. Annual adjusted operating margin is expected to expand 50 basis points, excluding dispositions.' Whipple concluded, 'Our outlook reflects the progress we are making on our transformation plan and a macro backdrop consistent with the current environment. The strategic initiatives we are undertaking this year give us confidence in our ability to quickly and fully integrate Worldpay and realize the synergy benefits we outlined, providing us greater conviction in our medium-term guidance and ability to accelerate our long-term revenue growth.' Capital Allocation Global Payments' Board of Directors approved a dividend of $0.25 per share payable on June 27, 2025 to shareholders of record as of June 13, 2025. Conference Call Global Payments' management will host a live audio webcast today, May 6, 2025, at 7:30 a.m. ET to discuss financial results and business highlights. The audio webcast, along with supplemental financial information, can be accessed via the investor relations page of the company's website at A replay of the audio webcast will be archived on the company's website following the live event. Non-GAAP Financial Measures Global Payments supplements revenues, operating income, operating margin and net income and earnings per share determined in accordance with GAAP by providing these measures with certain adjustments (such measures being non-GAAP financial measures) in this earnings release to assist with evaluating our performance. In addition to GAAP measures, management uses these non-GAAP financial measures to focus on the factors the company believes are pertinent to the daily management of our operations. Reconciliation of each non-GAAP financial measure to the most directly comparable GAAP measure is included in the schedules to this release, except for forward-looking measures where a reconciliation to the corresponding GAAP measures is not available due to the variability, complexity and limited visibility of the items that are excluded from the non-GAAP outlook measures. The company is unable to address the probable significance of the unavailable information. About Global Payments Global Payments Inc. (NYSE: GPN) is a leading payments technology company delivering innovative software and services to our customers globally. 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 a member of the S&P 500 with worldwide reach spanning North America, Europe, Asia Pacific and Latin America. For more information, visit and follow Global Payments on X, LinkedIn and Facebook. Forward-Looking Statements Investors are cautioned that some of the statements we use in this release contain forward-looking statements and are made pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on current expectations, estimates and projections about the industry and geographies in which we operate, and beliefs of and assumptions made by our management, involve risks, uncertainties and assumptions that could significantly affect the financial condition, results of operations, business plans and the future performance of Global Payments. Actual events or results might differ materially from those expressed or forecasted in these forward-looking statements. Accordingly, we cannot guarantee that our plans and expectations will be achieved. Examples of forward-looking statements include, but are not limited to, statements we make regarding future financial and operating results, including revenue, earnings estimates, liquidity, and deleveraging plans, management's expectations regarding future plans, objectives and goals; market and growth opportunities; capital available for allocation; the effects of general economic conditions on our business; statements about the strategic rationale and anticipated benefits of acquisitions or dispositions, including future financial and operating results, and the successful integration of our acquisitions; statements about the completion of anticipated benefits and 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 the company's plans, objectives, expectations and intentions. Statements can generally be identified as forward-looking because they include words such as 'believes,' 'anticipates,' 'expects,' 'intends,' 'plan,' 'forecast,' 'could,' 'should,' 'will,' 'would,' or words of similar meaning. Although we believe that the plans and expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our plans and expectations will be attained, and therefore actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. In addition to factors previously disclosed in Global Payments' reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: the occurrence of any event, change or other circumstances that could give rise to the right of one or more of the parties to terminate the transaction agreements for the divestiture of the Company's Issuer Solutions business and the acquisition of Worldpay (collectively, the 'Transaction'); the outcome of any legal proceedings that may be instituted against Worldpay, Global Payments, or its directors; the ability to obtain regulatory approvals and meet other closing conditions for the Transaction on a timely basis or at all, including the risk that regulatory approvals required for the Transaction are not obtained on a timely basis or at all, or are obtained subject to conditions that are not anticipated or that could adversely affect Global Payments following the Transaction or the expected benefits of the Transaction; risks related to the financing in connection with the Transaction; difficulties and delays in integrating the Worldpay business into that of Global Payments, including with respect to implementing controls to prevent a material security breach of any internal systems or to successfully manage credit and fraud risks in business units; failing to fully realize anticipated cost savings and other anticipated benefits of the Transaction when expected or at all, business disruptions from the proposed transaction that will harm Global Payments' or Worldpay's businesses, including current plans and operations; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Transaction, including as it relates to Global Payments' or Worldpay's ability to successfully renew existing client contracts on favorable terms or at all and obtain new clients; failing to comply with the applicable requirements of Visa, Mastercard or other payment networks or card schemes or changes in those requirements; the ability of Global Payments or Worldpay to retain and hire key personnel; the diversion of management's attention from ongoing business operations; uncertainty as to the long-term value of the common stock of Global Payments following the Transaction, including the dilution caused by Global Payments' issuance of additional shares of its common stock in connection with the Transaction; the continued availability of capital and financing; the effects of global economic, political, market, health and social events or other conditions; the imposition of tariffs and other trade policies and the resulting impacts on market volatility and global trade; macroeconomic pressures and general uncertainty regarding the overall future economic environment; foreign currency exchange, inflation and rising interest rate risks; the effects of a security breach or operational failure on our business; the ability to maintain Visa and Mastercard registration and financial institution sponsorship; difficulties, increased competition in the markets in which we operate and our ability to increase our market share in existing markets and expand into new markets; our ability to safeguard our data; risks associated with our indebtedness; the potential effect of climate change including natural disasters; the effects of new or changes in current laws, regulations, credit card association rules or other industry standards on us or our partners and customers, including privacy and cybersecurity laws and regulations; and other events beyond our control, and other factors included in the 'Risk Factors' section in our most recent Annual Report on Form 10-K and in other documents that we file with the SEC, which are available at These cautionary statements qualify all of our forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements. Our forward-looking statements speak only as of the date they are made and should not be relied upon as representing our plans and expectations as of any subsequent date. While we may elect to update or revise forward-looking statements at some time in the future, we specifically disclaim any obligation to publicly release the results of any revisions to our forward-looking statements, except as required by law. SCHEDULE 3 GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands) Three Months Ended March 31, 2025 March 31, 2024 % Change GAAP Non-GAAP GAAP Non-GAAP GAAP Non-GAAP Revenues: Merchant Solutions $ 1,808,687 $ 1,691,854 $ 1,834,094 $ 1,683,384 (1.4 )% 0.5 % Issuer Solutions 620,730 528,815 602,735 515,610 3.0 % 2.6 % Intersegment eliminations (17,319 ) (15,841 ) (16,642 ) (15,055 ) (4.1 )% (5.2 )% $ 2,412,098 $ 2,204,828 $ 2,420,187 $ 2,183,939 (0.3 )% 1.0 % Operating income (loss): Merchant Solutions $ 614,102 $ 808,953 $ 580,438 $ 790,413 5.8 % 2.3 % Issuer Solutions 109,318 244,944 106,097 241,401 3.0 % 1.5 % Corporate (256,528 ) (120,010 ) (234,283 ) (122,310 ) (9.5 )% 1.9 % Gain on business disposition 3,993 — — — nm nm $ 470,885 $ 933,888 $ 452,252 $ 909,505 4.1 % 2.7 % ____________________ See Schedule 7 for a reconciliation of adjusted net revenue and adjusted operating income by segment to the most comparable GAAP measures and Schedule 8 for a discussion of non-GAAP financial measures. Note: Amounts may not sum due to rounding. Note: nm = not meaningful. Expand SCHEDULE 4 CONSOLIDATED BALANCE SHEETS (UNAUDITED) GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands, except share data) March 31, 2025 ASSETS Current assets: Cash and cash equivalents $ 2,896,024 $ 2,538,416 Accounts receivable, net 1,112,308 1,081,740 Settlement processing assets 1,836,890 1,620,921 Prepaid expenses and other current assets 893,338 795,593 Total current assets 6,738,560 6,036,670 Goodwill 26,417,195 26,286,318 Other intangible assets, net 8,668,020 8,931,943 Property and equipment, net 2,352,656 2,277,593 Deferred income taxes 105,694 106,083 Notes receivable 788,075 772,297 Other noncurrent assets 2,545,906 2,479,351 Total assets $ 47,616,106 $ 46,890,255 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY Current liabilities: Settlement lines of credit $ 727,975 $ 503,407 Current portion of long-term debt 1,180,408 1,075,708 Accounts payable and accrued liabilities 2,925,073 3,079,924 Settlement processing obligations 2,307,400 1,593,675 Total current liabilities 7,140,856 6,252,714 Long-term debt 15,014,421 15,164,659 Deferred income taxes 1,770,186 1,832,996 Other noncurrent liabilities 666,070 623,319 Total liabilities 24,591,533 23,873,688 Commitments and contingencies Redeemable noncontrolling interests 166,791 160,623 Equity: Preferred stock, no par value; 5,000,000 shares authorized and none issued — — Common stock, no par value; 400,000,000 shares authorized at March 31, 2025 and December 31, 2024; 245,361,590 shares issued and outstanding at March 31, 2025 and 248,708,899 shares issued and outstanding at December 31, 2024 — — Paid-in capital 17,678,643 18,118,942 Retained earnings 5,019,346 4,774,736 Accumulated other comprehensive loss (449,646 ) (612,992 ) Total Global Payments shareholders' equity 22,248,343 22,280,686 Nonredeemable noncontrolling interests 609,439 575,258 Total equity 22,857,782 22,855,944 Total liabilities, redeemable noncontrolling interests and equity $ 47,616,106 $ 46,890,255 Expand SCHEDULE 5 CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In thousands) Three Months Ended March 31, 2025 March 31, 2024 Cash flows from operating activities: Net income $ 312,772 $ 323,062 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of property and equipment 122,839 117,919 Amortization of acquired intangibles 329,269 343,217 Amortization of capitalized contract costs 34,424 32,883 Share-based compensation expense 39,740 40,117 Provision for operating losses and credit losses 19,950 19,409 Noncash lease expense 14,162 15,397 Deferred income taxes (70,737 ) (111,886 ) Paid-in-kind interest capitalized to principal of notes receivable (19,499 ) (17,694 ) Equity in income of equity method investments, net of tax (18,286 ) (16,411 ) Distributions received on investments 7,512 — Gain on business disposition (3,993 ) — Other, net 19,338 12,075 Changes in operating assets and liabilities, net of the effects of business combinations: Accounts receivable (36,734 ) 50,934 Prepaid expenses and other assets (93,552 ) (120,774 ) Accounts payable and other liabilities (102,081 ) (158,669 ) Net cash provided by operating activities 555,124 529,579 Cash flows from investing activities: Business combinations and other acquisitions, net of cash and restricted cash acquired (49,886 ) (2,557 ) Capital expenditures (127,577 ) (145,441 ) Payment received on notes receivable 4,375 — Net cash used in investing activities (173,088 ) (147,998 ) Cash flows from financing activities: Changes in funds held for customers (58,461 ) (88,573 ) Changes in settlement processing assets and obligations, net 479,153 (24,689 ) Net borrowings from settlement lines of credit 223,216 133,228 Net borrowings (repayments) from commercial paper notes 867,582 (1,093,043 ) Proceeds from long-term debt 1,551,000 4,609,000 Repayments of long-term debt (2,546,613 ) (2,628,548 ) Payments of debt issuance costs — (29,391 ) Repurchases of common stock (446,286 ) (800,048 ) Proceeds from stock issued under share-based compensation plans 6,340 11,031 Common stock repurchased - share-based compensation plans (36,006 ) (41,140 ) Distributions to noncontrolling interests (10,327 ) (4,748 ) Proceeds and contributions from noncontrolling interests — 89 Purchase of capped calls related to issuance of convertible notes — (256,250 ) Dividends paid (61,124 ) (63,616 ) Net cash used in financing activities (31,526 ) (276,698 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash 61,790 (34,035 ) Increase in cash, cash equivalents and restricted cash 412,300 70,848 Cash, cash equivalents and restricted cash, beginning of the period 2,735,975 2,256,875 Cash, cash equivalents and restricted cash, end of the period $ 3,148,275 $ 2,327,723 Expand ____________________ (1) Includes adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefits to the company. For the three months ended March 31, 2025 and 2024, net revenue adjustments also included $0.3 million and $0.5 million, respectively, to eliminate the effect of acquisition accounting fair value adjustments for software-related contract liabilities associated with acquired businesses. (2) For the three months ended March 31, 2025, earnings adjustments to operating income included $329.3 million in cost of services (COS) and $137.4 million in selling, general and administrative expenses (SG&A). Adjustments to COS included amortization of acquired intangibles of $329.3 million. Adjustments to SG&A included acquisition, integration and separation expenses of $28.4 million, facilities exit charges of $4.7 million, charges for business transformation activities of $66.3 million, modernization charges of $9.3 million, charges related to the resolution of a certain legal matter of $18.3 million, and other items of $10.4 million. For the three months ended March 31, 2025, earnings adjustments to operating income also included the elimination of a $4.0 million gain on business dispositions. For the three months ended March 31, 2024, earnings adjustments to operating income included $343.2 million in COS and $113.6 million in SG&A. Adjustments to COS consisted of amortization of acquired intangibles of $343.2 million. Adjustments to SG&A included acquisition, integration and separation expenses of $78.9 million, employee severance charges of $24.9 million, and other items of $9.8 million. (3) Income taxes on adjustments reflect the tax effect of earnings adjustments to income before income taxes. The tax rate used in determining the tax impact of earnings adjustments is either the jurisdictional statutory rate in effect at the time of the adjustment or the jurisdictional expected annual effective tax rate for the period, depending on the nature and timing of the adjustment. See "Non-GAAP Financial Measures" discussion on Schedule 8. Note: Amounts may not sum due to rounding. Expand ____________________ (1) Includes adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefits to the company. For the three months ended March 31, 2025 and 2024, net revenue adjustments also included $0.3 million and $0.5 million, respectively, to eliminate the effect of acquisition accounting fair value adjustments for software-related contract liabilities associated with acquired businesses. (2) For the three months ended March 31, 2025, earnings adjustments to operating income included $329.3 million in COS and $176.0 million in SG&A. Adjustments to COS included amortization of acquired intangibles of $329.3 million. Adjustments to SG&A included share-based compensation expense of $38.6 million, acquisition, integration and separation expenses of $28.4 million, facilities exit charges of $4.7 million, charges for business transformation activities of $66.3 million, modernization charges of $9.3 million, charges related to the resolution of a certain legal matter of $18.3 million, and other items of $10.4 million. For the three months ended March 31, 2025, earnings adjustments to operating income also included the elimination of a $4.0 million gain on business dispositions. (3) Income taxes on adjustments reflect the tax effect of earnings adjustments to income before income taxes. The tax rate used in determining the tax impact of earnings adjustments is either the jurisdictional statutory rate in effect at the time of the adjustment or the jurisdictional expected annual effective tax rate for the period, depending on the nature and timing of the adjustment. See "Non-GAAP Financial Measures" discussion on Schedule 8. Note: Amounts may not sum due to rounding. Expand ____________________ (1) Includes adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefits to the company. For the three months ended March 31, 2025 and 2024, net revenue adjustments also included $0.3 million and $0.5 million, respectively, to eliminate the effect of acquisition accounting fair value adjustments for software-related contract liabilities associated with acquired businesses. (2) For the three months ended March 31, 2025, earnings adjustments to operating income included $329.3 million in COS and $137.4 million in SG&A. Adjustments to COS included amortization of acquired intangibles of $329.3 million. Adjustments to SG&A included acquisition, integration and separation expenses of $28.4 million, facilities exit charges of $4.7 million, charges for business transformation activities of $66.3 million, modernization charges of $9.3 million, charges related to the resolution of a certain legal matter of $18.3 million, and other items of $10.4 million. For the three months ended March 31, 2025, earnings adjustments to operating income also included the elimination of a $4.0 million gain on business dispositions. For the three months ended March 31, 2024, earnings adjustments to operating income included $343.2 million in COS and $113.6 million in SG&A. Adjustments to COS consisted of amortization of acquired intangibles of $343.2 million. Adjustments to SG&A included acquisition, integration and separation expenses of $78.9 million, employee severance charges of $24.9 million, and other items of $9.8 million. See "Non-GAAP Financial Measures" discussion on Schedule 8. Note: Amounts may not sum due to rounding. Expand SCHEDULE 8 OUTLOOK SUMMARY (UNAUDITED) GLOBAL PAYMENTS INC. AND SUBSIDIARIES (In millions, except per share data) 2025 Growth Revenues: GAAP revenues 1% to 2% Adjustments (1) 0% FX impact ~1% Constant currency (CC) adj net revenue 2% to 3% Dispositions ~3% CC adjusted net revenue excluding dispositions 5% to 6% Earnings Per Share: GAAP diluted EPS 5% to 6% Adjustments (2) ~4% FX impact ~1% Constant currency adjusted EPS 10% to 11% Expand (1) Includes adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefit to the company. Amounts also included adjustments to eliminate the effect of acquisition accounting fair value adjustments for software-related contract liabilities associated with acquired businesses. (2) Adjustments to 2024 GAAP diluted EPS included the removal of 1) software-related contract liability adjustments described above of $0.01, 2) acquisition related amortization expense of $4.13, 3) acquisition, integration, and separation expense of $0.64, 4) charges for business transformation activities of $0.30, 5) employee termination benefits of $0.24, 6) non-cash charges for technology assets that will no longer be utilized under a revised technology architecture development strategy of $0.17, 7) modernization charges of $0.07, 8) non-cash asset write-offs for discontinued initiatives of $0.06, 9) facilities exit charges of $0.04, 10) gain/loss on business dispositions of $(0.83), 11) other income and expense of $(0.05), 12) discrete tax items of $0.04, 13) other items of $0.04, 14) the effect of noncontrolling interests and income taxes, as applicable. Note: nm = not meaningful. Expand NON-GAAP FINANCIAL MEASURES Global Payments supplements revenues, operating income, operating margin and net income, and earnings per share (EPS) determined in accordance with U.S. GAAP by providing these measures with certain adjustments (such measures being non-GAAP financial measures) in this document to assist with evaluating our performance. In addition to GAAP measures, management uses these non-GAAP financial measures to focus on the factors the company believes are pertinent to the daily management of our operations. The constant currency growth measures adjust for the impact of exchange rates and are calculated using average exchange rates during the comparable period in the prior year. Management uses these non-GAAP financial measures, together with other metrics, to set goals for and measure the performance of the business and to determine incentive compensation. Adjusted net revenue, adjusted operating income, adjusted operating margin, and adjusted EPS should be considered in addition to, and not as substitutes for, revenues, operating income, and EPS determined in accordance with GAAP. The non-GAAP financial measures reflect management's judgment of particular items, and may not be comparable to similarly titled measures reported by other companies. Adjusted net revenue excludes gross-up related payments associated with certain lines of business to reflect economic benefits to the company. On a GAAP basis, these payments are presented gross in both revenues and operating expenses. Management believes adjusted net revenue more closely reflects the economic benefits to the company's core business and allows for better comparisons with industry peers. Adjusted operating income, adjusted net income and adjusted EPS exclude acquisition-related amortization expense, acquisition, integration and separation expense, gains or losses on business dispositions, business transformation activities, and certain other items specific to each reporting period as more fully described in the accompanying reconciliations in Schedules 6 and 7. The tax rate used in determining the income tax impact of earnings adjustments is either the jurisdictional statutory rate in effect at the time of the adjustment or the jurisdictional expected annual effective tax rate for the period, depending on the nature and timing of the adjustment. Adjusted operating margin is derived by dividing adjusted operating income by adjusted net revenue.
