6 unchanged sentences
We refer to the period consisting of the seven-months ended December 31, 2016 as the "2016 fiscal transition period."
−Removed: The following graph compares our cumulative shareholder returns with the Standard & Poor's Information Technology Index and the Standard & Poor's 500 Index for the years ended December 31, 2019 , 2018 and 2017, the 2016 fiscal transition period and the years ended May 31, 2016 and 2015.
+Added: The following graph compares our cumulative shareholder returns with the Standard & Poor's Information Technology Index and the Standard & Poor's 500 Index for the years ended December 31, 2020, 2019 and 2018, 2017, and the 2016 fiscal transition period and the year ended May 31, 2016.
The line graph assumes the investment of $100 in our common stock, the Standard & Poor's ("S&P") 500 Index and the Standard & Poor's Information Technology Index on May 31, 2015 and assumes reinvestment of all dividends.
3 unchanged sentences
*$100 invested on May 31, 2015 in stock or index, including reinvestment of dividends.
+Added: Fiscal year ending December 31
Copyright© 2021 Standard & Poor's, a division of S&P Global.
All rights reserved.
+Added: 500 Index S&P
Technology Index
+Added: May 31, 2015 $ 100.00 $ 100.00 $ 100.00
+Added: May 31, 2016 148.95 101.72 103.32
December 31, 2016 133.12 109.96 114.53
2 unchanged sentences
December 31, 2019 350.86 168.42 238.27
+Added: December 31, 2020 415.89 199.41 342.85
Recent Sales of Unregistered Securities
2 unchanged sentences
Information about the shares of our common stock that we repurchased during the quarter ended December 31, 2020 is set forth below:
−Removed: Total Number of
+Added: Period Total Number of
Shares Purchased (1)
−Removed: Approximate Average Price Paid per Share
−Removed: Total Number of
+Added: Approximate Average Price Paid per Share Total Number of
Shares Purchased as Part of
Publicly Announced
−Removed: Plans or Programs
+Added: Plans or Programs Maximum
Dollar Value) of
4 unchanged sentences
December 1-31, 2020 471,809 207.33 — —
−Removed: Our board of directors has authorized us to repurchase shares of our common stock through any combination of Rule 10b5-1 open-market repurchase plans, accelerated share repurchase plans, discretionary open-market purchases or privately negotiated transactions.
+Added: Total 1,295,813 $ 191.72 — $ 1,020.0
+Added: (1) Our board of directors authorized us to repurchase shares of our common stock through any combination of Rule 10b5-1 open-market repurchase plans, accelerated share repurchase plans, discretionary open-market purchases or privately negotiated transactions.
During the quarter ended December 31, 2020, pursuant to our employee incentive plans, we withheld 86,214 shares at an average price per share of $213.96 in order to satisfy employees' tax withholding and payment obligations in connection with the vesting of awards of restricted stock, which we withheld at fair market value on the vesting date.
−Removed: On February 5, 2019 , the board of directors increased its authorization to repurchase shares of our common stock to $750 million , inclusive of prior share repurchase programs authorized by the board and repurchases made thereunder.
+Added: (2) On January 28, 2021, the board of directors increased its authorization to repurchase shares of our common stock to $1,500 million, inclusive of prior share repurchase programs authorized by the board and repurchases made thereunder.
As of December 31, 2020, the approximate dollar value of shares that may yet be purchased under our share repurchase program was $1,020.0 million.
3 unchanged sentences
You should read the selected financial data set forth below in conjunction with (i) "Item 7 ‑ Management's Discussion and Analysis of Financial Condition and Results of Operations," (ii) "Item 8 ‑ Financial Statements and Supplementary Data" and (iii) the historical consolidated financial statements of Global Payments and the related notes presented in this Annual Report on Form 10-K.
−Removed: Years Ended December 31,
−Removed: December 31, 2016
−Removed: Years Ended May 31,
+Added: Years Ended December 31, Seven Months
+Added: December 31, 2016 Year Ended May 31,
+Added: 2020 2019 2018 2017 2016
(in thousands, except per share data)
Income statement data:
+Added: Revenues $ 7,423,558 $ 4,911,892 $ 3,366,366 $ 3,975,163 $ 2,202,896 $ 2,898,150
Operating income 893,953 791,417 737,055 558,868 237,951 424,944
+Added: Net income 605,100 469,276 484,667 494,070 137,683 290,217
Net income attributable to Global Payments
+Added: 584,520 430,613 452,053 468,425 124,931 271,666
Per share data:
2 unchanged sentences
Cash dividends declared per common share
+Added: 0.78 0.225 0.04 0.04 0.02 0.04
Balance sheet data (at period end):
+Added: Total assets $ 44,201,545 $ 44,480,162 $ 13,230,774 $ 12,998,069 $ 10,664,350 $ 10,509,952
Settlement lines of credit 358,698 463,237 700,486 635,166 392,072 378,436
Long-term debt 9,293,764 9,125,501 5,130,243 4,659,716 4,438,612 4,515,286
−Removed: As more fully described in "Note 1 —Basis of Presentation and Summary of Significant Accounting Policies" and "Note 3 —Revenues" in the notes to the accompanying consolidated financial statements, we adopted a new revenue accounting standard on January 1, 2018 that results in revenue being presented net of certain fees that we pay to third parties, including payment networks.
+Added: Total equity 27,487,044 28,054,989 4,186,343 3,965,231 2,779,342 2,877,404
+Added: Our financial results for the year ended December 31, 2020 reflect the unfavorable effects of the COVID-19 pandemic on our revenues as governments took actions to encourage social distancing and implemented shelter-in-place directives, slightly offset by cost-saving actions, such as reductions in employee compensation costs and discretionary spending, to help mitigate the financial effects of the COVID-19 pandemic.
+Added: See “Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations” for further discussion of the effects of the COVID-19 pandemic.
+Added: As more fully described in "Note 1—Basis of Presentation and Summary of Significant Accounting Policies" in the notes to the accompanying consolidated financial statements, we adopted a new revenue accounting standard on January 1, 2018 that results in revenue being presented net of certain fees that we pay to third parties, including payment networks.
This change in presentation affected our reported revenues and operating expenses for all periods after the year ended December 31, 2017 by the same amount and had no effect on operating income.
4 unchanged sentences
See "Note 2—Acquisitions" and "Note 8—Long-Term Debt and Lines of Credit," respectively, in the notes to the accompanying consolidated financial statements for further discussion of our acquisitions and borrowing arrangements.
−Removed: Operating income, net income, net income attributable to Global Payments and basic and diluted earnings per share in the table above reflect acquisition and integration expenses of $255.6 million for the year ended December 31, 2019 , primarily related to the Merger, $56.1 million for the year ended December 31, 2018 , $94.6 million for the year ended December 31, 2017 , $91.6 million for the seven months ended December 31, 2016 and $51.3 million for the year ended May 31, 2016 .
+Added: Operating income, net income, net income attributable to Global Payments and basic and diluted earnings per share in the table above reflect acquisition and integration expenses of $320.0 million for the year ended December 31, 2020, $255.6 million for the year ended December 31, 2019, $56.1 million for the year ended December 31, 2018, $94.6 million for the year ended December 31, 2017, $91.6 million for the seven months ended December 31, 2016 and $51.3 million for the year ended May 31, 2016.
Net income, net income attributable to Global Payments and basic and diluted earnings per share in the table above also reflect the following:
2 unchanged sentences
Tax Act") for the year ended December 31, 2018 and a provisional net income tax benefit of $158.7 million recorded in connection with the 2017 U.S.
−Removed: the year ended December 31, 2017.
−Removed: See "Note 9 —Income Tax" in the notes to the accompanying consolidated financial statements for further discussion;
−Removed: (b) a gain of $41.2 million recognized in connection with the sale of our membership interests in Visa Europe Limited for the seven months ended December 31, 2016.
+Added: Tax Act for the year ended December 31, 2017;
+Added: (b) a gain of $27.7 million and $41.2 million for the year ended December 31, 2020 and the seven months ended December 31, 2016, respectively, recognized in connection with the sale of our membership interests in Visa Europe Limited.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.