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BUSINESS DISPOSITIONS AND DISCONTINUED OPERATIONS | 6 Months Ended
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Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
BUSINESS DISPOSITIONS AND DISCONTINUED OPERATIONS | BUSINESS DISPOSITIONS AND DISCONTINUED OPERATIONS Discontinued Operations As described in "Note 1—Basis of Presentation and Summary of Significant Accounting Policies," our Issuer Solutions business met the criteria to be classified as a held for sale disposal group and a discontinued operation in the second quarter of 2025. The following table presents the major classes of line items constituting income from discontinued operations, net of tax, in our consolidated statements of income for the three and six months ended June 30, 2025 and 2024:
| Three Months Ended |  | Six Months Ended
| June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024
Revenues | $ | 639,885 |  |  | $ | 613,508 |  |  | $ | 1,260,614 |  |  | $ | 1,216,243 |
Operating expenses: |  |  |  |  |  |  |
Cost of service | 301,191 |  |  | 443,921 |  |  | 745,999 |  |  | 878,122 |
Selling, general and administrative | 85,557 |  |  | 72,352 |  |  | 170,690 |  |  | 148,225 |
Impairment of goodwill | 33,225 |  |  | — |  |  | 33,225 |  |  | — |
| 419,973 |  |  | 516,273 |  |  | 949,914 |  |  | 1,026,347 |
Operating income | 219,912 |  |  | 97,235 |  |  | 310,700 |  |  | 189,896 |
Interest and other income | 1,079 |  |  | 1,104 |  |  | 2,428 |  |  | 2,025 |
Interest and other expense | (6,471) |  |  | (10,949) |  |  | (15,424) |  |  | (18,739) |
| (5,392) |  |  | (9,845) |  |  | (12,996) |  |  | (16,714) |
Income from discontinued operations before income taxes and equity in income of equity method investments | 214,520 |  |  | 87,390 |  |  | 297,704 |  |  | 173,182 |
Income tax expense | 180,568 |  |  | 13,145 |  |  | 194,329 |  |  | 25,834 |
Income from discontinued operations before equity in income of equity method investments | 33,952 |  |  | 74,245 |  |  | 103,375 |  |  | 147,348 |
Equity in income of equity method investments | 51 |  |  | 58 |  |  | 89 |  |  | 91 |
Income from discontinued operations, net of tax | 34,003 |  |  | 74,303 |  |  | 103,464 |  |  | 147,439 |
Income from discontinued operations attributable to noncontrolling interests | (1,148) |  |  | (864) |  |  | (1,956) |  |  | (1,519) |
Income from discontinued operations attributable to Global Payments | $ | 32,855 |  |  | $ | 73,439 |  |  | $ | 101,508 |  |  | $ | 145,920 |
In connection with the classification of our Issuer Solutions business as assets held for sale, we recognized a goodwill impairment charge of $33.2 million on the basis of a quantitative assessment and comparison of the fair value of the disposal group to its carrying amount. The estimated fair value used in the goodwill impairment assessment was considered a nonrecurring Level 3 measurement of the valuation hierarchy. The goodwill impairment charge is presented within income from discontinued operations, net of tax in our consolidated statements of income for the three and six months ended June 30, 2025. The following table presents the carrying amounts of the major classes of assets and liabilities of discontinued operations as of June 30, 2025 and December 31, 2024:
| June 30, 2025 |  | December 31, 2024
Cash and cash equivalents | $ | 182,236 |  |  | $ | 181,982 |
Accounts receivable, net | 339,443 |  |  | 299,434 |
Prepaid expenses and other current assets | 367,051 |  |  | 461,412 |
Current assets of discontinued operations | 888,730 |  |  | 942,828 |
Goodwill | 9,505,486 |  |  | 9,508,786 |
Other intangible assets, net | 4,260,730 |  |  | 4,404,561 |
Property and equipment, net | 1,047,813 |  |  | 882,784 |
Other noncurrent assets | 649,509 |  |  | 641,995 |
Noncurrent assets of discontinued operations | 15,463,538 |  |  | 15,438,126 |
Accounts payable and accrued liabilities | 518,845 |  |  | 595,857 |
Current liabilities of discontinued operations | 518,845 |  |  | 595,857 |
Deferred income taxes | 243,862 |  |  | 258,764 |
Other noncurrent liabilities | 238,942 |  |  | 185,700 |
Noncurrent liabilities of discontinued operations | 482,804 |  |  | 444,464 |
Cash flows related to discontinued operations are included in our consolidated statements of cash flows for the six months ended June 30, 2025 and 2024. The following table presents selected items affecting the statements of cash flows:
| Six Months Ended
| June 30, 2025 |  | June 30, 2024
Depreciation and amortization of property and equipment | $ | 34,448 |  |  | $ | 61,706 |
Amortization of acquired intangibles | 156,824 |  |  | 267,427 |
Goodwill impairment | 33,225 |  |  | — |
Capital expenditures | 112,353 |  |  | 83,353 |
During the six months ended June 30, 2025, Issuer Solutions entered into an agreement to acquire software and related services, of which $37.5 million was financed utilizing a two-year vendor financing arrangement. In addition, during the six months ended June 30, 2025, Issuer Solutions recognized approximately $121.8 million of deferred income tax expense associated with our investment in subsidiaries of the disposal group expected to be divested in the transaction. Heartland Payroll Solutions, Inc. In May 2025, we entered into a definitive agreement to divest Heartland Payroll Solutions, Inc. ("Payroll Solutions"), our payroll business included in our Merchant Solutions segment, to Acrisure, LLC ("Acrisure") for approximately $1.1 billion, subject to certain closing adjustments, including up to $75 million of contingent consideration upon the purchaser achieving certain specified returns. In connection with the transaction, we entered into a mutual referral agreement and long-term commercial partnership with Acrisure in which we will continue delivering fully integrated human capital management and payroll offerings to our merchant customers as part of our suite of commerce enablement solutions. The transaction is expected to close in the second half of 2025, subject to regulatory approvals and other customary closing conditions, and result in a gain on sale of business. Payroll Solutions met the criteria to be classified as a held for sale disposal group in the second quarter of 2025 and all assets of and liabilities of the have been reflected as assets held for sale and liabilities held for sale within our consolidated balance sheet of June 30, 2025. Assets presented as held for sale in the consolidated balance sheet as of June 30, 2025 include goodwill of $479.6 million, cash of $255.3 million and other assets of $170.5 million. Liabilities presented as held for sale in the consolidated balance sheet as of June 30, 2025 are principally accounts payable and accrued liabilities. AdvancedMD, Inc. In December 2024, we completed the sale of AdvancedMD, Inc. ("AdvancedMD") for approximately $1.1 billion, subject to certain closing adjustments, including up to $125 million of contingent consideration upon the purchaser achieving certain specified returns. AdvancedMD is a provider of software-as-a-service solutions to small-to-medium sized ambulatory physician practices in the United States ("U.S."), and was included in our Merchant Solutions segment prior to disposition. We recognized a gain on the sale of $273.1 million during the year ended December 31, 2024 and an additional gain on sale of $4.3 million during the six months ended June 30, 2025.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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