Quarterly Consolidated Financial Information (Unaudited)

12 Months Ended

May. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Consolidated Financial Information (Unaudited)

QUARTERLY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)

Summarized quarterly results for the years ended May 31, 2015 and 2014 are as follows (in thousands, except per share data):



	Quarter Ended
	August 31		November 30		February 28		May 31

Fiscal 2015
Revenues	$	704,895	$	697,291	$	664,983	$	706,549
Operating income	124,398		123,984		104,615		103,600
Net income	84,434		85,256		69,315		70,110
Net income attributable to Global Payments	75,366		74,781		62,568		65,325
Basic earnings per share attributable to Global Payments	0.55		0.55		0.47		0.50
Diluted earnings per share attributable to Global Payments	0.55		0.55		0.46		0.49

	Quarter Ended
	August 31		November 30		February 28		May 31
Fiscal 2014
Revenues	$	629,685	$	634,122	$	616,452	$	673,977
Operating income	107,384		111,907		97,291		88,917
Net income	71,708		79,857		60,121		58,266
Net income attributable to Global Payments	64,643		73,897		55,121		51,625
Basic earnings per share attributable to Global Payments	0.44		0.51		0.38		0.37
Diluted earnings per share attributable to Global Payments	0.44		0.51		0.38		0.36

Operating income, net income, net income attributable to Global Payments and basic and diluted earnings per share for the quarter ended May 31, 2015 include the effects of employee termination costs of $6.3 million (pre-tax) and a $1.2 million (pre-tax) charge for a transaction tax associated with the acquisition of Realex. Net income, net income attributable to Global Payments and basic and diluted earnings per share for the quarter ended May 31, 2015 also include the effect of the reversal of interest expense of $3.6 million (pre-tax) that had been previously accrued related to a previously unrecognized tax benefit. An out-of period immaterial correction related to the measurement of certain deferred tax assets was recorded in the quarter ended May 31, 2015 as a charge to income tax expense of $14.3 million ($6.8 million of which related to the quarter ended August 31, 2014). This charge was offset by a corresponding income tax benefit recorded in the quarter ended May 31, 2015 related to a change in judgment regarding the tax rate at which those same deferred tax assets were expected to be realized in conjunction with the recognition of the previously unrecognized tax benefit related to an uncertain tax position in a foreign jurisdiction. See "Note 8 – Income Tax" for further information. Both amounts are included in the foreign income taxes line of the reconciliation between the federal statutory rate and the effective tax rate for the year ended May 31, 2015 in "Note 8 - Income Tax."