Exhibit 99.2
GLOBAL PAYMENTS INC.
UNAUDITED PRO FORMA CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
| Year Ended May 31, 2009 | ||||||||||||
| Global Payments Inc. (Historical) |
Money Transfer (Disposed Entity) |
Pro Forma | ||||||||||
| Revenues |
$ | 1,601,524 | $ | 139,218 | $ | 1,462,306 | ||||||
| Operating expenses: |
||||||||||||
| Cost of service |
598,785 | 93,930 | 504,855 | |||||||||
| Sales, general and administrative |
693,646 | 28,741 | 664,905 | |||||||||
| Impairment, restructuring and other |
147,664 | 147,664 | — | |||||||||
| 1,440,095 | 270,335 | 1,169,760 | ||||||||||
| Operating income |
161,429 | (131,117 | ) | 292,546 | ||||||||
| Other income (expense): |
||||||||||||
| Interest and other income |
7,263 | 258 | 7,005 | |||||||||
| Interest and other expense |
(7,265 | ) | 17 | (7,282 | ) | |||||||
| (2 | ) | 275 | (277 | ) | ||||||||
| Income from continuing operations before income taxes |
161,427 | (130,842 | ) | 292,269 | ||||||||
| Provision for income taxes, net |
(87,249 | ) | (1,997 | ) | (85,252 | ) | ||||||
| Income from continuing operations including noncontrolling interests |
74,178 | (132,839 | ) | 207,017 | ||||||||
| Less: Net income attributable to noncontrolling interests, net of tax |
(36,961 | ) | — | (36,961 | ) | |||||||
| Income from continuing operations attributable to Global Payments |
$ | 37,217 | $ | (132,839 | ) | $ | 170,056 | |||||
| Earnings per share attributable to Global Payments: |
||||||||||||
| Basic earnings per share from continuing operations attributable to Global Payments |
$ | 0.46 | $ | (1.66 | ) | $ | 2.12 | |||||
| Diluted earnings per share from continuing operations attributable to Global Payments |
$ | 0.46 | $ | (1.64 | ) | $ | 2.10 | |||||
| Weighted average shares outstanding1: |
||||||||||||
| Basic |
80,160 | 80,160 | 80,160 | |||||||||
| Diluted |
81,049 | 81,049 | 81,049 | |||||||||
1 Pursuant to the retrospective adoption of FASB guidance on participating securities (ASC 260-10-45-40), basic and diluted weighted average shares outstanding have been increased by 442 and 57, respectively for the year ended May 31, 2009.
GLOBAL PAYMENTS INC.
UNAUDITED PRO FORMA CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
| Year Ended May 31, 2008 | ||||||||||||
| Global Payments Inc. (Historical) |
Money Transfer (Disposed Entity) |
Pro Forma | ||||||||||
| Revenues |
$ | 1,274,229 | $ | 143,621 | $ | 1,130,608 | ||||||
| Operating expenses: |
||||||||||||
| Cost of service |
475,612 | 99,795 | 375,817 | |||||||||
| Sales, general and administrative |
545,941 | 30,190 | 515,751 | |||||||||
| Impairment, restructuring and other |
1,317 | — | 1,317 | |||||||||
| 1,022,870 | 129,985 | 892,885 | ||||||||||
| Operating income |
251,359 | 13,636 | 237,723 | |||||||||
| Other income (expense): |
||||||||||||
| Interest and other income |
18,210 | 630 | 17,580 | |||||||||
| Interest and other expense |
(8,166 | ) | 378 | (8,544 | ) | |||||||
| 10,044 | 1,008 | 9,036 | ||||||||||
| Income from continuing operations before income taxes |
261,403 | 14,644 | 246,759 | |||||||||
| Provision for income taxes, net |
(90,588 | ) | (5,027 | ) | (85,561 | ) | ||||||
| Income from continuing operations including noncontrolling interests |
170,815 | 9,617 | 161,198 | |||||||||
| Less: Net income attributable to noncontrolling interests, net of tax |
(8,061 | ) | — | (8,061 | ) | |||||||
| Income from continuing operations attributable to Global Payments |
$ | 162,754 | $ | 9,617 | $ | 153,137 | ||||||
| Earnings per share attributable to Global Payments: |
||||||||||||
| Basic earnings per share from continuing operations attributable to Global Payments |
$ | 2.04 | $ | 0.12 | $ | 1.92 | ||||||
| Diluted earnings per share from continuing operations attributable to Global Payments |
$ | 2.01 | $ | 0.12 | $ | 1.89 | ||||||
| Weighted average shares outstanding1: |
||||||||||||
| Basic |
79,765 | 79,765 | 79,765 | |||||||||
| Diluted |
81,136 | 81,136 | 81,136 | |||||||||
1 Pursuant to the retrospective adoption of FASB guidance on participating securities (ASC 260-10-45-40), basic and diluted weighted average shares outstanding have been increased by 247 and 157, respectively for the year ended May 31, 2008.
GLOBAL PAYMENTS INC.
UNAUDITED PRO FORMA CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
| Year Ended May 31, 2007 | ||||||||||||
| Global Payments Inc. (Historical) |
Money Transfer (Disposed Entity) |
Pro Forma | ||||||||||
| Revenues |
$ | 1,061,523 | $ | 132,381 | $ | 929,142 | ||||||
| Operating expenses: |
||||||||||||
| Cost of service |
414,837 | 89,659 | 325,178 | |||||||||
| Sales, general and administrative |
425,509 | 28,246 | 397,263 | |||||||||
| Impairment, restructuring and other |
3,088 | — | 3,088 | |||||||||
| 843,434 | 117,905 | 725,529 | ||||||||||
| Operating income |
218,089 | 14,476 | 203,613 | |||||||||
| Other income (expense): |
||||||||||||
| Interest and other income |
16,706 | 690 | 16,016 | |||||||||
| Interest and other expense |
(8,464 | ) | 385 | (8,849 | ) | |||||||
| 8,242 | 1,075 | 7,167 | ||||||||||
| Income from continuing operations before income taxes |
226,331 | 15,551 | 210,780 | |||||||||
| Provision for income taxes, net |
(73,436 | ) | (5,391 | ) | (68,045 | ) | ||||||
| Income from continuing operations including noncontrolling interests |
152,895 | 10,160 | 142,735 | |||||||||
| Less: Net income attributable to noncontrolling interests, net of tax |
(9,910 | ) | — | (9,910 | ) | |||||||
| Income from continuing operations attributable to Global Payments |
$ | 142,985 | $ | 10,160 | $ | 132,825 | ||||||
| Earnings per share attributable to Global Payments: |
||||||||||||
| Basic earnings per share from continuing operations attributable to Global Payments |
$ | 1.78 | $ | 0.13 | $ | 1.65 | ||||||
| Diluted earnings per share from continuing operations attributable to Global Payments |
$ | 1.75 | $ | 0.12 | $ | 1.62 | ||||||
| Weighted average shares outstanding1: |
||||||||||||
| Basic |
80,394 | 80,394 | 80,394 | |||||||||
| Diluted |
81,888 | 81,888 | 81,888 | |||||||||
1 Pursuant to the retrospective adoption of FASB guidance on participating securities (ASC 260-10-45-40), basic and diluted weighted average shares outstanding have been increased by 165 and 66, respectively for the year ended May 31, 2007.