GPNGlobal Payments
Global Payments Inc. and its consolidated subsidiaries are referred to collectively as "Global Payments," the "Company," "we," "our" or "us," unless the context requires otherwise. 10-K, Item 1
- Headquarters
- Atlanta, GA
- CEO
- Cameron M. Bready
- Next results
- around Feb 17, 2027
14 paragraphs in Risk Factors of the 10-K filed Feb 20, 2026 with nothing like them in the 10-K filed Feb 14, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 75 Financials companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
More specifically, our computer systems and/or our associated third parties’ computer systems have been, and we expect will continue to be, targeted on a regular basis, and our data protection measures may not prevent, and occasionally have not prevented, unauthorized access. The techniques used to obtain unauthorized access, disable or degrade services or sabotage
Read in the 10-K ↗
The acquisition and integration of Worldpay involves a number of risks. The combination of two independent businesses is complex, costly and time consuming, and we will be required to devote significant management attention and resources to integrating the business practices and operations of Worldpay. Potential difficulties that we may encounter as part of the integration process include the following:
•The inability to successfully combine the business of Worldpay in a manner that permits us to achieve, on a timely basis, or at all, the enhanced revenue opportunities and cost savings and other benefits anticipated to result from the acquisition;
•Complexities associated with managing the combined businesses, including difficulty addressing possible differences in corporate cultures and management philosophies and the challenge of integrating complex systems, technology, networks and other assets in a seamless manner that minimizes any adverse impact on customers, suppliers, employees and other stakeholders (with such complexities heightened because we are managing the separation of our Issuer Solutions business, which was recently divested to FIS, at the same time we are managing the integration of Worldpay);
•Our ability to retain personnel after the Worldpay Acquisition, including Worldpay's key management, who may be critical to our future operations, which could disrupt our operations, loss of existing customers, loss of key information, expertise or know-how and unanticipated additional recruitment and training costs;
Similar paragraph at 1 of 75 other Financials companies: CBOE•Our ability to manage the combined, now significantly larger, Merchant Solutions business, including challenges related to management and monitoring of new operations and the associated increased costs and complexity of the combined business;
Similar paragraph at 1 of 75 other Financials companies: COF•Our ability to realize the expected operating efficiencies, cost savings, revenue enhancements or other benefits currently anticipated from the Worldpay Acquisition;
•Potential adverse reactions or changes to business relationships resulting from the Worldpay Acquisition, including as it relates to our or Worldpay's ability to successfully renew existing client contracts on favorable terms or at all and obtain new clients;
•Potential unknown liabilities and unforeseen increased expenses or delays associated with the acquisition; and
•Diversion of the attention of management and the disruption of, or the loss of momentum in, our ongoing businesses or inconsistencies in standards, controls, procedures and policies.
Read in the 10-K ↗
•There may be potential adverse reactions or changes to business relationships resulting from the acquisition or joint venture, including as it relates to our or the acquired company's or our joint venture partners' ability to successfully renew existing client contracts on favorable terms or at all and obtain new clients;
Read in the 10-K ↗
Many merchants in our enterprise merchant segment have non-exclusive agreements with multiple providers of payment processing services and receive services simultaneously from multiple providers. These large merchants frequently have the contractual right and the technical capabilities to redirect and reallocate transaction volume between payment processors at any time and in their discretion. There are many reasons why an enterprise merchant may decide to direct transaction volume away from us including a failure by us to provide services in accordance with merchants’ expectations and an offer for more competitive pricing by another provider. If our enterprise customers shift significant transaction volume to other providers, it will adversely affect our business, financial condition, results of operations and cash flows.
Read in the 10-K ↗
On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework, and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates beginning in 2025.
Read in the 10-K ↗
The OBBBA and Pillar Two did not have a material effect on our financial statements for the year ended December 31, 2025, and we are continuing to evaluate the potential effect on future periods.
Read in the 10-K ↗
New in the latest 10-Q
7 paragraphs in the 10-Q filed Nov 5, 2026 with nothing like them in the 10-Q filed Aug 5, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
In September 2025, we completed the sale of Heartland Payroll Solutions, Inc. ("Payroll Solutions"), our payroll business included in our former Merchant Solutions segment prior to disposition, to Acrisure, LLC ("Acrisure") for approximately $1.1 billion, subject to certain closing adjustments, including up to $75 million of contingent consideration upon the buyer's achieving a specified revenue target. In connection with the transaction, we entered into a mutual referral agreement and long-term commercial partnership with Acrisure. We recognized a gain on the sale of $343.9 million during the three and nine months ended September 30, 2025.
Read in the 10-Q ↗
For the nine months ended September 30, 2026, we used the actual effective income tax rate for the year to date period as the best estimate of the annual effective income tax rate. We determined that using the estimated annual effective income tax rate would not provide a reasonable estimate for income taxes for the nine months ended September 30, 2026, as the estimated annual effective income tax rate is highly sensitive to minor changes in forecasted income from continuing operations before income taxes, and does not produce a reasonable estimate of income tax results for the period. For the comparative 2025 period, we used the estimated annual effective income tax rate method for interim financial statements.
Read in the 10-Q ↗
Nine Months Ended September 30, 2025 ─────────────────────────────────────────────────── Risk-free interest rate 4.01% Expected volatility 46% Dividend yield 0.88% Expected term in years 5
Read in the 10-Q ↗
Through certain of our subsidiaries in Europe, we were a member and shareholder of Visa Europe Limited ("Visa Europe"). In June 2016, Visa Inc. ("Visa") acquired all of the membership interests in Visa Europe, and we received consideration in the form of cash and Series B and C convertible preferred shares of Visa. We assigned the preferred shares received a value of zero based on transfer restrictions, Visa's ability to adjust the conversion rate and the estimation uncertainty associated with those factors. Based on the outcome of any current or potential litigation involving Visa Europe in the United Kingdom and elsewhere in Europe, the conversion rate of the preferred shares could be adjusted down such that the number of Visa common shares we receive could be as low as zero.
Read in the 10-Q ↗
The Series B and C convertible preferred shares become convertible in stages based on developments in the litigation and become fully convertible no later than 2028 (subject to a holdback to cover any then-pending claims). In August 2025, in connection with the fourth mandatory release assessment, a portion of the Series B and C convertible preferred shares was converted by Visa. We recognized a gain of $ 8.9 million reported in interest and other income in our consolidated statement of income for the three and nine months ended September 30, 2025 based on the fair value of the shares received. The converted shares were subsequently sold. The remaining Series B and C convertible preferred shares continue to be carried at an assigned value of zero based on the aforementioned factors.
Read in the 10-Q ↗
• Consolidated operating income for the three months ended September 30, 2025 also included the effects of a $343.9 million gain on the sale of Payroll Solutions, which had a favorable effect on operating margin in the prior year period of approximately 17.0%;
Read in the 10-Q ↗
• Consolidated operating income for the nine months ended September 30, 2025 also included the effects of a $343.9 million gain on the sale of Payroll Solutions, which had a favorable effect on operating margin in the prior year period of approximately 6.0%;
Read in the 10-Q ↗
The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Nov 5, 2026 against Item 1A of the 10-K filed Feb 20, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
What the 10-Q itself says about its risk factors:
Read in the 10-Q ↗
For a discussion of our risk factors, see Part I, Item 1A. "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025.
1 paragraph in the 10-Q's Item 1A, and none of them adds, rewords or quietly edits a paragraph of the 10-K's.
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