GLOBAL PAYMENTS INCGPN
GLOBAL PAYMENTS INC Segments Disclosure
SEGMENT INFORMATION
Information About Profit and Assets
We report the results of our Issuer Solutions business as a discontinued operation and therefore, no longer present Issuer Solutions as a reportable segment. Segment information presented below is based on our Merchant Solutions reportable segment. See "Note 3—Business Dispositions and Discontinued Operations" for further discussion regarding the divestiture of our Issuer Solutions business. As described in "Note 3—Business Dispositions and Discontinued Operations," during the
second quarter of 2023, we completed the sale of the consumer portion of our Netspend business, which comprised our former Consumer Solutions segment. Our former Consumer Solutions segment is presented below for periods prior to disposition.
Our Merchant Solutions payment technology is similar around the world in that we enable our customers to accept card and other digital-based payments. Through this segment, our offerings include, but are not limited to, authorization, settlement and funding services, customer support, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and on-line reporting. In addition, we offer a wide array of enterprise software solutions that streamline business operations to customers in numerous vertical markets. We also provide a variety of value-added solutions and services, including specialty point-of-sale software, analytics and customer engagement, human capital management and payroll and reporting that assist our customers with driving demand and operating their businesses more efficiently.
Through our former Consumer Solutions segment, we provided general purpose reloadable prepaid debit and payroll cards, demand deposit accounts and other financial service solutions to the underbanked and other consumers and businesses in the United States.
Our segment structure reflects the financial information and reports used by our chief operating decision maker to make decisions regarding the business, including resource allocations and performance assessments. Our Chief Executive Officer is the chief operating decision maker ("CODM"). We evaluate performance and allocate resources based on the operating income of our operating segment. The CODM uses segment operating income in the annual budget and forecasting process, and considers budget-to-actual and forecast-to-actual variances on a monthly, quarterly and annual basis. The operating income of each operating segment includes the revenues of the segment less expenses that are directly related to those revenues. Operating overhead, shared costs and share-based compensation costs are included in Corporate. Impairment of goodwill and gains or losses on business dispositions are not included in determining segment operating income. Interest and other income, interest and other expense, income tax expense and equity in income of equity method investments are not allocated to the individual segments. The CODM does not evaluate the performance of or allocate resources to our operating segment using asset data. The accounting policies of the reportable operating segment are the same as those described in the Summary of Significant Accounting Policies in "Note 1—Basis of Presentation and Summary of Significant Accounting Policies." In consideration of the acquisition of Worldpay and our CODM’s revised organizational structure, effective in the first quarter of 2026, our reportable segments, and the results of those segments, will be reorganized to reflect how our CODM assesses performance and allocates resources. We will report the new segment information beginning in the first quarter of 2026.
Information on segments and reconciliations to consolidated revenues, consolidated operating expenses, consolidated operating income and consolidated depreciation and amortization were as follows:
| Years Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| (in thousands) | |||||||||||||||||
Revenues(1): | |||||||||||||||||
| Merchant Solutions | $ | 7,705,878 | $ | 7,735,970 | $ | 7,197,902 | |||||||||||
| Consumer Solutions | — | — | 182,740 | ||||||||||||||
| Intersegment eliminations | — | — | (858) | ||||||||||||||
Consolidated revenues | $ | 7,705,878 | $ | 7,735,970 | $ | 7,379,784 | |||||||||||
Operating expenses(1): | |||||||||||||||||
| Merchant Solutions: | |||||||||||||||||
| Cost of service | $ | 2,113,381 | $ | 2,033,471 | $ | 1,950,000 | |||||||||||
| Selling, general and administrative | 2,857,334 | 3,120,279 | 2,926,602 | ||||||||||||||
| Total Merchant Solutions expenses | 4,970,715 | 5,153,750 | 4,876,602 | ||||||||||||||
Consumer Solutions(2) | — | — | 186,648 | ||||||||||||||
| Corporate | 1,263,297 | 880,854 | 865,034 | ||||||||||||||
| Intersegment eliminations | — | — | (858) | ||||||||||||||
Operating income (loss)(1): | |||||||||||||||||
| Merchant Solutions | $ | 2,735,163 | $ | 2,582,220 | $ | 2,321,300 | |||||||||||
| Consumer Solutions | — | — | (3,908) | ||||||||||||||
| Corporate | (1,263,297) | (880,854) | (865,034) | ||||||||||||||
| Impairment of goodwill | (33,218) | — | — | ||||||||||||||
| Net gain (loss) on business dispositions | 315,976 | 273,134 | (136,744) | ||||||||||||||
| Consolidated operating income | $ | 1,754,624 | $ | 1,974,500 | $ | 1,315,614 | |||||||||||
Depreciation and amortization(1): | |||||||||||||||||
| Merchant Solutions | $ | 1,194,137 | $ | 1,193,107 | $ | 1,121,597 | |||||||||||
| Corporate | 35,071 | 24,181 | 20,297 | ||||||||||||||
| Consolidated depreciation and amortization | $ | 1,229,208 | $ | 1,217,288 | $ | 1,141,894 | |||||||||||
(1) Revenues, operating expenses, operating income and depreciation and amortization reflect the effects of acquired businesses from the respective acquisition dates and the effects of disposed businesses through the respective disposal dates. See “Note 2—Acquisitions” and “Note 3—Business Dispositions and Discontinued Operations” for further discussion.
Operating income and operating expenses included acquisition and transformation expenses of $737.5 million, $308.5 million and $333.8 million for the years ended December 31, 2025, 2024 and 2023, respectively, which were primarily included within Corporate selling, general and administrative expenses.
(2) Prior to the disposition of the consumer portion of our Netspend business, the information provided to the CODM included segment revenue and operating income, but not cost of service or selling, general and administrative expense. Therefore, the segment expense detail is not provided for the Consumer Solutions business.
Entity-Wide Information
As a percentage of our total consolidated revenues, revenues from external customers in the United States were 73% for the year ended December 31, 2025, 74% for the year ended December 31, 2024, and 76% for the year ended December 31, 2023. Revenues from external customers are attributed to individual countries based on the location of the customer arrangements. Our results of operations and our financial condition are not significantly reliant upon any single customer.
Long-lived assets, excluding goodwill and other intangible assets, by location as of December 31, 2025 and 2024 were as follows:
| 2025 | 2024 | ||||||||||
| (in thousands) | |||||||||||
| United States | $ | 1,003,284 | $ | 1,007,959 | |||||||
| Foreign countries | 498,479 | 413,309 | |||||||||
| $ | 1,501,763 | $ | 1,421,268 | ||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2024 | Feb 14, 2025 | |
| 2023 | Feb 14, 2024 | |
| 2022 | Feb 17, 2023 | |
| 2021 | Feb 18, 2022 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 21, 2020 | |
| 2018 | Feb 21, 2019 | |
| 2017 | Feb 23, 2018 | |
| 2016 | Jul 28, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.