Global Payments Reports Year-End Earnings

                  Global Payments Reports Year-End Earnings

Establishes Fiscal 2014 Growth Expectations

Board Authorizes New $250 Million Share Repurchase Program

Announces Expanded Partnership with CaixaBank in Brazil

PR Newswire

ATLANTA, July 25, 2013

ATLANTA, July 25, 2013 /PRNewswire/ --Global Payments Inc. (NYSE: GPN) today
announced results for its fiscal fourth quarter and year ended May 31, 2013.
The company delivered revenues of $2.4 billion or 8% growth and cash earnings
per share of $3.65 or 3% growth over prior year.

(Logo: http://photos.prnewswire.com/prnh/20010221/ATW031LOGO )

Chairman and CEO Paul R. Garcia said, "We are focused on delivering a strong
fiscal 2014 with cash earnings per share growth of 8% to 10%. Importantly,
this includes a significant step up in annual security costs. Excluding these
costs, annual cash earnings per share growth for fiscal 2014 would be 12% to
14%.

"I am also delighted to announce that our Spanish partner, CaixaBank, will be
taking a 50% sharein Global Payments Brazil. This expands our strategic
partnership with CaixaBank and will provide us the opportunity to grow more
rapidly in this important region with potential further expansion into other
Latin American markets over time," continued Garcia.

Full-Year 2013 Summary

  oRevenues grew 8% to $2,375.9 million, compared to $2,203.8 million in
    fiscal 2012.
  oCash diluted earnings per share^1 grew 3% to $3.65, compared to $3.53 in
    the prior fiscal year.
  oGAAP full-year diluted earnings per share of $2.76, compared to $2.37
    diluted earnings per share in the prior year.

Fourth Quarter 2013 Summary

  oRevenues grew 4% to $618.4 million, compared to $597.0 million in the
    fourth quarter of fiscal 2012.
  oCash diluted earnings per share grew 1% to $0.98, compared to $0.97 in the
    fourth quarter of fiscal 2012.
  oGAAP diluted earnings per share were $0.53, compared to $0.06 in the
    fourth quarter of 2012.

2014 Outlook
For the full-year of fiscal 2014, the company expects annual revenue of $2.51
billion to $2.56 billion, or 6% to 8% growth over fiscal 2013 and diluted
earnings per share on a cash basis of $3.93 to $4.00, reflecting growth of 8%
to 10% over fiscal 2013. Annual fiscal 2014 GAAP diluted earnings per share
is expected to be $3.35 to $3.42.

New $250 Million Share Repurchase Authorization
David E. Mangum, Senior Executive Vice President and CFO, stated, "I am
pleased that the Board of Directors approved a new $250 million share
repurchase authorization of Global Payments' stock. We intend to complete our
previous $300 million share authorization in the first quarter of fiscal 2014,
and the benefit from the original authorization is factored into our outlook
for fiscal 2014."

Under the company's new program, Global Payments may repurchase shares in the
open market or as otherwise may be determined by the company, subject to
market conditions, business opportunities and other factors. The company has
no obligation to repurchase shares under this program. This authorization has
no expiration date and may be suspended or terminated at any time.
Repurchased shares will be retired but will be available for future issuance.
The company's expectations exclude the impact of any potential share
repurchases under the new $250 million authorization.

Conference Call
Global Payments will hold a conference call today, July 25, 2013 at 5:00 p.m.
EDT to discuss financial results and business highlights. Callers may access
the conference call via the investor relations page of the company's website
at www.globalpaymentsinc.com by clicking the "Webcast" button; or callers in
North America may dial 1-888-895-3550 and callers outside North America may
dial 1-706-758-8809. The pass code is "GPN." A replay of the call may be
accessed through the Global Payments website through August 8, 2013.

About Global Payments
Global Payments Inc. (NYSE: GPN) is a leading provider of electronic
transaction processing services for merchants, Independent Sales Organizations
(ISOs), financial institutions, government agencies and multi-national
corporations located throughout the United States, Canada, Brazil, Europe and
the Asia-Pacific region. Global Payments, a Fortune 1000 company, offers a
comprehensive line of processing solutions for credit and debit cards,
business-to-business purchasing cards, gift cards, electronic check conversion
and check guarantee, verification and recovery including electronic check
services, as well as terminal management. Visit www.globalpaymentsinc.com for
more information about the company and its services.

This announcement and comments made by Global Payments' management during the
conference call may contain certain forward-looking statements within the
meaning of the "safe-harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Statements that are not historical facts, including
revenue and earnings estimates and management's expectations regarding future
events and developments, are forward-looking statements and are subject to
significant risks and uncertainties. Important factors that may cause actual
events or results to differ materially from those anticipated by such
forward-looking statements include the following:  the effect on our results
of operations of continued security enhancements to our processing system;
foreign currency risks which become increasingly relevant as we expand
internationally; the effect of current domestic and worldwide economic
conditions, including sovereign insolvency situations and a decline in the
value of the U.S. dollar, and future performance and integration of
acquisitions, and other risks detailed in our SEC filings, including the most
recently filed Form 10-K. We undertake no obligation to revise any of these
statements to reflect future circumstances or the occurrence of unanticipated
events.

Investor investor.relations@globalpay.com Media    media.relations@globalpay.com
contact:                                  contact:
         Jane Elliott                              Amy Corn
         770-829-8234                              770-829-8755

_________________________
^1 See Schedule 2 for Cash Earnings and Schedules 6 and 7 for Reconciliations
of Cash Earnings to GAAP.



SCHEDULE 1
GAAP CONSOLIDATED
STATEMENTS OF
INCOME
GLOBAL PAYMENTS
INC. AND
SUBSIDIARIES
(In thousands,
except per share
data)
                   Three Months Ended          Year Ended May 31,
                   May 31,
                   2013       2012     %       2013         2012        %
                                       Change                           Change
                   $       $             $          $ 
Revenues           618,352           4%      2,375,923   2,203,847  8%
                              597,032
Operating
expenses:
 Cost of service  229,951    213,071  8%      862,075      784,756     10%
 Sales, general
and                290,568    289,712  0%      1,119,860    1,027,304   9%
administrative
 Processing       28,464     84,438   (66%)   36,775       84,438      (56%)
system intrusion
                   548,983    587,221  (7%)    2,018,710    1,896,498   6%
Operating income   69,369     9,811    607%    357,213      307,349     16%
Other income
(expense):
 Interest and     3,647      2,818    29%     10,353       9,946       4%
other income
 Interest and     (8,065)    (4,185)  93%     (33,282)     (16,848)    98%
other expense
                   (4,418)    (1,367)  223%    (22,929)     (6,902)     232%
Income before      64,951     8,444    669%    334,284      300,447     11%
income taxes
Income tax
(provision)        (18,585)   3,202    (680%)  (95,571)     (82,881)    15%
benefit
Net income         46,366     11,646   298%    238,713      217,566     10%
Less: Net income
attributable to
noncontrolling     (5,561)    (6,560)  (15%)   (22,588)     (29,405)    (23%)
interests, net of
tax
Net income         $      $             $        $   
attributable to    40,805          702%    216,125      188,161     15%
Global Payments               5,086
Earnings per
share
attributable to
Global Payments:
                   $      $             $       $    
 Basic            0.54       800%      2.78       2.39    16%
                              0.06
                   $      $             $       $    
 Diluted          0.53       783%      2.76       2.37    16%
                              0.06
Weighted average
shares
outstanding:
 Basic          76,034     78,539           77,767       78,829
 Diluted        76,651     79,192           78,227       79,431





SCHEDULE 2
CASH EARNINGS ATTRIBUTABLE
TO GLOBAL PAYMENTS
GLOBAL PAYMENTS
INC. AND
SUBSIDIARIES
(In thousands,
except per share
data)
                  Three Months Ended            Year Ended May 31,
                  May 31,
                  2013       2012       %       2013        2012        %
                                        Change                          Change
Revenues          $      $       4%      $         $          8%
                  618,352    597,032            2,375,923  2,203,847
Operating
expenses:
 Cost of         214,080    200,051    7%      803,952     734,060     10%
service
 Sales, general
and               285,017    274,390    4%      1,113,509   1,011,982   10%
administrative
                  499,097    474,441    5%      1,917,461   1,746,042   10%
Operating income  119,255    122,591    (3%)    458,462     457,805     0%
Other income
(expense):
 Interest and    3,647      2,818      29%     10,353      9,946       4%
other income
 Interest and    (8,065)    (4,185)    93%     (24,899)    (16,848)    48%
other expense
                  (4,418)    (1,367)    223%    (14,546)    (6,902)     111%
Income before     114,837    121,224    (5%)    443,916     450,903     (2%)
income taxes
Provision for     (32,693)   (36,318)   (10%)   (126,294)   (133,455)   (5%)
income taxes
Net income        82,144     84,906     (3%)    317,622     317,448     0%
Less: Net income
attributable to
noncontrolling    (7,042)    (8,437)    (17%)   (32,206)    (37,193)    (13%)
interests, net
of tax
Net income        $      $              $       $   
attributable to    75,102   76,469     (2%)    285,416     280,255     2%
Global Payments
Basic earnings    $      $              $       $    
per share                   0.97   2%         3.67    3.56    3%
                  0.99
Diluted earnings  $      $              $       $    
per share                   0.97   1%         3.65    3.53    3%
                  0.98
Weighted average
shares
outstanding:
 Basic         76,034     78,539             77,767      78,829
 Diluted       76,651     79,192             78,227      79,431
See Schedules 6 and 7 for a reconciliation of
cash earnings to GAAP.



SCHEDULE 3
SEGMENT
INFORMATION
GLOBAL PAYMENTS INC. AND
SUBSIDIARIES
(In thousands)
                  Three Months Ended May 31,
                  2013                  2012                  % Change
                             Cash                  Cash               Cash
                  GAAP                GAAP                GAAP
                             Earnings              Earnings           Earnings
Revenues:
United States     $         $         $         $         6%      6%
                  372,425   372,425   351,872   351,872
Canada            77,115     77,115     79,015     79,015     (2%)    (2%)
 North America   449,540    449,540    430,887    430,887    4%      4%
merchant services
Europe            132,217    132,217    128,521    128,521    3%      3%
Asia-Pacific      36,595     36,595     37,624     37,624     (3%)    (3%)
 International
merchant          168,812    168,812    166,145    166,145    2%      2%
services
 Total revenues  $         $         $         $         4%      4%
                  618,352   618,352   597,032   597,032
Operating income
(loss) for
segments:
North America     $        $        $        $        (10%)   (1%)
merchant services 69,101    80,229    76,412    81,194
International
merchant          48,295     57,460     48,074     61,664     0%      (7%)
services
Corporate^1       (48,027)   (18,434)   (114,675)  (20,267)   58%     9%
 Operating       $        $         $       $         607%    (3%)
income            69,369    119,255   9,811     122,591
                  Year Ended May 31,
                  2013                  2012                  % Change
                             Cash                  Cash               Cash
                  GAAP                GAAP                GAAP
                             Earnings              Earnings           Earnings
Revenues:
United States     $          $          $          $          13%     13%
                  1,394,675  1,394,675  1,234,818  1,234,818
Canada            311,000    311,000    332,434    332,434    (6%)    (6%)
 North America   1,705,675  1,705,675  1,567,252  1,567,252  9%      9%
merchant services
Europe            522,593    522,593    489,300    489,300    7%      7%
Asia-Pacific      147,655    147,655    147,295    147,295    0%      0%
 International
merchant          670,248    670,248    636,595    636,595    5%      5%
services
 Total revenues  $          $          $          $          8%      8%
                  2,375,923  2,375,923  2,203,847  2,203,847
Operating income
(loss) for
segments:
North America     $         $         $         $         (8%)    (2%)
merchant services 258,910   288,162   281,305   295,003
International
merchant          211,242    245,279    196,137    238,487    8%      3%
services
Corporate^1       (112,939)  (74,979)   (170,093)  (75,685)   34%     1%
Operating income  $         $         $         $         16%     0%
                  357,213   458,462   307,349   457,805
^1GAAP results include data intrusion charges of $28.5 million and $36.8
million for the three and twelve months ended May 31, 2013 respectively and
$84.4 million for the three and twelve months ended May 31, 2012
See Schedule 8 for reconciliation of cash
earnings segment information to GAAP.



SCHEDULE 4
CONSOLIDATED BALANCE SHEETS
GLOBAL PAYMENTS INC. AND SUBSIDIARIES
(In thousands except share data)
                                            May 31, 2013       May 31,2012
Assets
Current assets:
Cash and cash equivalents                   $     680,470  $    781,275
Accounts receivable, net of allowances for
doubtful accounts of $509 and $532,         189,435            182,962
respectively
Claims receivable, net of allowance for     1,156              1,029
losses of $3,144 and $3,435, respectively
Settlement processing assets                259,204            217,994
Inventory                                   11,057             9,864
Deferred income taxes                       6,485              21,969
Prepaid expenses and other current assets   66,685             33,646
Total current assets                        1,214,492          1,248,739
Goodwill                                    1,044,222          724,687
Other intangible assets, net of
accumulated amortization of $290,660 and    400,848            290,188
$235,296, respectively
Property and equipment, net of accumulated
depreciation of $156,948 and $161,911,      348,064            305,848
respectively
Deferred income taxes                       95,178             97,235
Other                                       22,252             21,446
Total assets                                $   3,125,056   $  2,688,143
Liabilities and Equity
Current liabilities:
Lines of credit                             $     187,461  $    215,391
Current portion of long-term debt           72,335             76,420
Accounts payable and accrued liabilities    262,890            316,313
Settlement processing obligations           162,558            216,878
Income taxes payable                        18,870             12,283
 Total current liabilities                 704,114            837,285
Long-term debt                              891,134            236,565
Deferred income taxes                       170,723            106,644
Other long-term liabilities                 72,478             62,306
Total liabilities                           1,838,449          1,242,800
Commitments and contingencies
Redeemable noncontrolling interest          -                  144,422
Equity:
Preferred stock, no par value; 5,000,000   -                  -
shares authorized and none issued
Common stock, no par value; 200,000,000
shares authorized; 75,426,099 and
78,551,297 issued and outstanding at May
31, 2013 and 2012, respectively
Paid-in capital                            202,396            358,728
Retained earnings                          958,751            843,456
Accumulated other comprehensive loss       (15,062)           (30,000)
 Total Global Payments shareholders'   1,146,085          1,172,184
equity
Noncontrolling interest                    140,522            128,737
Total equity                               1,286,607          1,300,921
Total liabilities and equity                $   3,125,056   $  2,688,143



SCHEDULE 5
CONSOLIDATED STATEMENTS OF CASH FLOWS
GLOBAL PAYMENTS INC. AND SUBSIDIARIES
(In thousands)
                                                        Year Ended May 31,
                                                        2013        2012
Cash flows from operating activities:
Net income                                              $ 238,713  $ 217,566
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
      Depreciation and amortization of property and     55,023      48,403
      equipment
      Amortization of acquired intangibles              56,765      50,696
      Share-based compensation expense                  18,427      16,391
      Provision for operating losses and bad debts      21,659      22,417
      Deferred income taxes                             33,112      (19,498)
      Other, net                                        (4,878)     (2,775)
Changes in operating assets and liabilities, net of the
effects of acquisitions:
      Accounts receivable                               (5,458)     (16,422)
      Claims receivable                                 (11,858)    (13,519)
      Settlement processing assets and obligations,     (104,007)   (568,335)
      net
      Inventory                                         (1,187)     (2,394)
      Prepaid expenses and other assets                 (22,978)    3,511
      Accounts payable and other accrued liabilities    (39,374)    85,875
      Income taxes payable                              6,587       4,609
             Net cash provided by (used in) operating   240,546     (173,475)
             activities
Cash flows from investing activities:
      Business, intangible and other asset              (434,016)   (44,274)
      acquisitions, net of cash acquired
      Capital expenditures                              (98,590)    (109,876)
      Net decrease in financing receivables             2,812       2,565
      Proceeds from sale of investment and              1,227       1,152
      contractual rights
             Net cash used in investing activities      (528,567)   (150,433)
Cash flows from financing activities:
      Net payments on short-term lines of credit        (27,930)    (55,354)
      Proceeds from issuance of long-term debt          1,135,327   146,374
      Principal payments under long-term debt           (482,349)   (184,235)
      Acquisition of redeemable noncontrolling          (242,000)   -
      interest
      Payment of debt issuance cost                     (3,987)     -
      Proceeds from stock issued under employee stock   10,543      11,446
      plans
      Common stock repurchased - share-based            (10,244)    (4,861)
      compensation plans
      Repurchase of common stock                        (175,297)   (99,604)
      Tax benefit from employee share-based             1,863       1,441
      compensation
      Distribution to noncontrolling interests          (16,206)    (27,082)
      Dividends paid                                    (6,198)     (6,311)
                      Net cash provided by (used in)    183,522     (218,186)
                      financing activities
Effect of exchange rate changes on cash                 3,694       (30,916)
(Decrease) increase in cash and cash equivalents        (100,805)   (573,010)
Cash and cash equivalents, beginning of period          781,275     1,354,285
Cash and cash equivalents, end of period                $ 680,470  $ 781,275



SCHEDULE 6
RECONCILIATION OF QUARTERLY CASH EARNINGS
ATTRIBUTABLE TO GLOBAL PAYMENTS TO GAAP
GLOBAL PAYMENTS
INC. AND
SUBSIDIARIES
(In thousands,
except per share
data)
                    Three Months Ended May 31, 2013
                               Processing
                    GAAP                    Other^1    Cash Earnings  Cash
                               System                  Adjustments^2  Earnings
                               Intrusion
                    $      $       $      $        $   
Revenues            618,352        -             -        
                                            -                         618,352
Operating
expenses:
 Cost of          229,951    -            (1,197)    (14,674)       214,080
service
 Sales, general
and                 290,568    -            (5,551)    -              285,017
administrative
 Processing       28,464     (28,464)     -          -              -
system intrusion
                    548,983    (28,464)     (6,748)    (14,674)       499,097
Operating income    69,369     28,464       6,748      14,674         119,255
Other income
(expense):
 Interest and     3,647      -            -          -              3,647
other income
 Interest and     (8,065)    -            -          -              (8,065)
other expense
                    (4,418)    -            -          -              (4,418)
Income before       64,951     28,464       6,748      14,674         114,837
income taxes
Provision for       (18,585)   (8,865)      (1,053)    (4,190)        (32,693)
income taxes
Net income          46,366     19,599       5,695      10,484         82,144
Less: Net income
attributable to
noncontrolling      (5,561)    -            -          (1,481)        (7,042)
interests, net of
tax
Net income          $      $       $      $        $   
attributable to      40,805   19,599         5,695  9,003           
Global Payments                                                       75,102
Diluted shares      76,651                                            76,651
Diluted earnings    $      $       $      $        $   
per share                     0.26              0.12            
                    0.53                    0.07                      0.98
                    Three Months Ended May 31, 2012
                               Processing              Cash Earnings  Cash
                    GAAP       System       Other^1    Adjustments^2  Earnings
                               Intrusion
                    $      $       $      $        $   
Revenues            597,032        -             -        
                                            -                         597,032
Operating
expenses:
 Cost of          213,071    -            -          (13,020)       200,051
service
 Sales, general
and                 289,712    -            (15,322)   -              274,390
administrative
 Processing       84,438     (84,438)     -          -              -
system intrusion
                    587,221    (84,438)     (15,322)   (13,020)       474,441
Operating income    9,811      84,438       15,322     13,020         122,591
Other income
(expense):
 Interest and     2,818      -            -          -              2,818
other income
 Interest and     (4,185)    -            -          -              (4,185)
other expense
                    (1,367)    -            -          -              (1,367)
Income before       8,444      84,438       15,322     13,020         121,224
income taxes
Benefit
(provision) for     3,202      (30,666)     (5,034)    (3,820)        (36,318)
income taxes
Net income          11,646     53,772       10,288     9,200          84,906
Less: Net income
attributable to
noncontrolling      (6,560)    -            -          (1,877)        (8,437)
interests, net of
tax
Net income          $      $       $      $        $   
attributable to       5,086  53,772        10,288   7,323           
Global Payments                                                       76,469
Diluted shares      79,192                                            79,192
Diluted earnings    $      $       $      $        $   
per share                     0.68              0.10            
                    0.06                    0.13                      0.97
^1Represents one-time charges primarily related to employee termination
benefits and certain contract settlement and related costs.
^2Represents adjustments to cost of service to exclude acquisition intangible
amortization expense from net income and the related income tax benefit.
We supplemented our reporting of income and the related earnings per share
information determined in accordance with GAAP by reporting income and the
related earnings per share for the three months ended May 31, 2013 and 2012 on
a "cash earnings" basis in this earnings release as a measure to help evaluate
performance.We calculated income and earnings per share on a cash basis by
excluding costs related to the processing system intrusion, acquisition
intangible amortization and one-time charges related to employee termination
benefits and certain contract settlement and related costs. We exclude these
charges in order to more clearly focus on the factors we believe are pertinent
to the daily management of our operations.Our income and earnings per share
reported on a cash earnings basis should be considered in addition to, and not
as a substitute for, income and earnings per share determined in accordance
with GAAP. Our measures of income and earnings per share on a cash earnings
basis reflect management's judgment of particular items, and may not be
comparable to similarly titled measures reported by other companies.



SCHEDULE 7
RECONCILIATION OF YEAR TO DATE CASH EARNINGS
ATTRIBUTABLE TO GLOBAL PAYMENTS TO GAAP
GLOBAL PAYMENTS
INC. AND
SUBSIDIARIES
(In thousands,
except per share
data)
                  Year Ended May 31, 2013
                               Processing
                  GAAP                     Other^1   Cash Earnings  Cash
                               System                Adjustments^2  Earnings
                               Intrusion
                  $          $       $      $        $  
Revenues          2,375,923                   -        2,375,923
                               -             -
Operating
expenses:
 Cost of        862,075      -           (1,358)   (56,765)       803,952
service
 Sales,
general and       1,119,860    -           (6,351)   -              1,113,509
administrative
 Processing     36,775       (36,775)    -         -              -
system intrusion
                  2,018,710    (36,775)    (7,709)   (56,765)       1,917,461
Operating income  357,213      36,775      7,709     56,765         458,462
Other income
(expense):
 Interest and   10,353       -           -         -              10,353
other income
 Interest and   (33,282)     -           8,383     -              (24,899)
other expense
                  (22,929)     -           8,383     -              (14,546)
Income before     334,284      36,775      16,092    56,765         443,916
income taxes
Provision for     (95,571)     (11,913)    (2,586)   (16,224)       (126,294)
income taxes
Net income        238,713      24,862      13,506    40,541         317,622
Less: Net income
attributable to
noncontrolling    (22,588)     -           (3,594)   (6,024)        (32,206)
interests, net
of tax
Net income        $        $       $      $         $    
attributable to   216,125       24,862           34,517         285,416
Global Payments                            9,912
Diluted shares    78,227                                            78,227
Diluted earnings  $       $       $      $        $    
per share           2.76        0.32         0.44            3.65
                                           0.13
                  Year Ended May 31, 2012
                               Processing            Cash Earnings  Cash
                  GAAP         System      Other^1   Adjustments^2  Earnings
                               Intrusion
                  $          $       $      $        $  
Revenues          2,203,847                   -        2,203,847
                               -             -
Operating
expenses:
 Cost of        784,756      -           -         (50,696)       734,060
service
 Sales,
general and       1,027,304    -           (15,322)  -              1,011,982
administrative
 Processing     84,438       (84,438)    -         -              -
system intrusion
                  1,896,498    (84,438)    (15,322)  (50,696)       1,746,042
Operating income  307,349      84,438      15,322    50,696         457,805
Other income
(expense):
 Interest and   9,946        -           -         -              9,946
other income
 Interest and   (16,848)     -           -         -              (16,848)
other expense
                  (6,902)      -           -         -              (6,902)
Income before     300,447      84,438      15,322    50,696         450,903
income taxes
Provision for     (82,881)     (30,640)    (5,034)   (14,900)       (133,455)
income taxes
Net income        217,566      53,798      10,288    35,796         317,448
Less: Net income
attributable to
noncontrolling    (29,405)     -           -         (7,788)        (37,193)
interests, net
of tax
Net income        $        $       $      $         $    
attributable to   188,161       53,798            28,008         280,255
Global Payments                            10,288
Diluted shares    79,431                                            79,431
Diluted earnings  $       $       $      $        $    
per share           2.37        0.68         0.35            3.53
                                           0.13
^1Represents one-time charges primarily related to employee termination
benefits and certain contract settlement and related costs.
^2Represents adjustments to cost of service to exclude acquisition intangible
amortization expense from net income and the related income tax benefit.
We supplemented our reporting of income and the related earnings per share
information determined in accordance with GAAP by reporting income and the
related earnings per share for the three months ended May 31, 2013 and 2012 on
a "cash earnings" basis in this earnings release as a measure to help evaluate
performance.We calculated income and earnings per share on a cash basis by
excluding costs related to the processing system intrusion, acquisition
intangible amortization and one-time charges related to employee termination
benefits and certain contract settlement and related costs. We exclude these
charges in order to more clearly focus on the factors we believe are pertinent
to the daily management of our operations.Our income and earnings per share
reported on a cash earnings basis should be considered in addition to, and not
as a substitute for, income and earnings per share determined in accordance
with GAAP. Our measures of income and earnings per share on a cash earnings
basis reflect management's judgment of particular items, and may not be
comparable to similarly titled measures reported by other companies.





SCHEDULE 8
RECONCILIATION OF CASH EARNINGS SEGMENT INFORMATION TO GAAP
GLOBAL PAYMENTS INC. AND
SUBSIDIARIES
(In thousands)
                Three Months Ended May 31,
                2013                                                      2012
                           Processing           Cash           Cash                 Processing           Cash           Cash
                GAAP     System      Other^1  Earnings       Earnings  GAAP     System      Other^1  Earnings       Earnings
                           Intrusion            Adjustments^2                        Intrusion            Adjustments^2
Revenues:
                $        $       $     $        $        $        $       $     $        $  
United States   372,425      -           -            372,425   351,872      -           -            351,872
                                       -                                                         -
Canada          77,115     -           -        -              77,115     79,015     -           -        -              79,015
 North America
 merchant       449,540    -           -        -              449,540    430,887    -           -        -              430,887
 services
Europe          132,217    -           -        -              132,217    128,521    -           -        -              128,521
Asia-Pacific    36,595     -           -        -              36,595     37,624     -           -        -              37,624
 International
 merchant       168,812    -           -        -              168,812    166,145    -           -        -              166,145
 services
    Total       $        $       $     $        $        $        $       $     $        $  
    revenues    618,352      -           -            618,352   597,032      -           -            597,032
                                       -                                                         -
Operating
income:
North America   $       $       $     $          $       $       $       $     $          $   
merchant        69,101       -             6,440         80,229    76,412       -             3,244         81,194
services                               4,688                                                    1,538
International
merchant        48,295     53          878      8,234          57,460     48,074     -           3,814    9,776          61,664
services
Corporate       (48,027)   28,411      1,182    -              (18,434)   (114,675)  84,438      9,970    -              (20,267)
 Operating      $       $        $     $           $        $      $        $     $           $  
 income         69,369    28,464             14,674        119,255   9,811     84,438     15,322  13,020        122,591
                                       6,748
                Year Ended May 31,
                2013                                                      2012
                           Processing           Cash           Cash                 Processing           Cash           Cash
                GAAP     System      Other^1  Earnings       Earnings  GAAP     System      Other^1  Earnings       Earnings
                           Intrusion            Adjustments^2                        Intrusion            Adjustments^2
Revenues:
                $         $       $     $        $         $         $       $     $        $ 
United States   1,394,675     -           -            1,394,675  1,234,818     -           -            1,234,818
                                       -                                                         -
Canada          311,000    -           -        -              311,000    332,434    -           -        -              332,434
 North America
 merchant       1,705,675  -           -        -              1,705,675  1,567,252  -           -        -              1,567,252
 services
Europe          522,593    -           -        -              522,593    489,300    -           -        -              489,300
Asia-Pacific    147,655    -           -        -              147,655    147,295    -           -        -              147,295
 International
 merchant       670,248    -           -        -              670,248    636,595    -           -        -              636,595
 services
    Total       $         $       $     $        $         $         $       $     $        $ 
    revenues    2,375,923     -           -            2,375,923  2,203,847     -           -            2,203,847
                                       -                                                         -
Operating
income (loss)
for segments:
North America   $        $       $     $           $        $        $       $     $           $  
merchant        258,910      -             23,659        288,162   281,305      -             12,160        295,003
services                               5,593                                                    1,538
International
merchant        211,242    53          878      33,106         245,279    196,137    -           3,814    38,536         238,487
services
Corporate       (112,939)  36,722      1,238    -              (74,979)   (170,093)  84,438      9,970    -              (75,685)
 Operating      $        $        $     $           $        $        $        $     $           $  
 income         357,213   36,775             56,765        458,462   307,349   84,438     15,322  50,696        457,805
                                       7,709
^1Represents one-time charges primarily related to employee termination
benefits and certain contract settlement and related costs.
^2 Represents acquisition
intangible amortization
expense.



SCHEDULE 9
OUTLOOK SUMMARY
GLOBAL PAYMENTS INC. AND
SUBSIDIARIES
(In millions, except per
share data)
                                Fiscal 2013      Fiscal 2014      % Change

                                Actual           Outlook          FY13
Revenue Outlook
Total Revenues                  $ 2,376          $2,510 to        6% to 8%
                                                 $2,560
EPS Outlook
Cash EPS                       $            $3.93 to         8% to 10%
                                3.65             $4.00
Acquisition-related
intangibles assets,
non-recurring items and
 processing system           (0.89)           ($0.58)          35%
intrusion ^1
GAAP Diluted EPS               $            $3.35 to        21% to 24%
                                2.76             $3.42
We supplemented our reporting of income and the related earnings per share
information determined in accordance with GAAP by reporting income and the
related earnings per share on a "cash earnings" basis in this earnings release
as a measure to help evaluate performance. We calculated income and earnings
per share on a cash basis by excluding costs related to the processing system
intrusion, acquisition intangible amortization and one-time charges related to
employee termination benefits and certain contract settlement and related
costs. We exclude these charges in order to more clearly focus on the factors
we believe are pertinent to the daily management of our operations. Our income
and earnings per share reported on a cash earnings basis should be considered
in addition to, and not as a substitute for, income and earnings per share
determined in accordance with GAAP. Our measures of income and earnings per
share on a cash earnings basis reflect management's judgment of particular
items, and may not be comparable to similarly titled measures reported by
other companies.
^1 Fiscal 2014 reflects $0.48 of acquisition-related intangibles and $0.10 of
non-recurring items and processing system intrusion costs. Acquisition-related
intangibles accounted and non-recurring items accounted for $0.57 in fiscal
2013 and processing intrusion costs were $0.32.







SOURCE Global Payments Inc.

Website: http://www.globalpaymentsinc.com
 
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