NetSpend 2014 Annual Report Download - page 14

Download and view the complete annual report

Please find page 14 of the 2014 NetSpend annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 95

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95

Selected Financial Data
The following financial data should be read in conjunction with the Consolidated Financial Statements and Notes
thereto and Financial Review sections of the Annual Report. The historical trends in Total System Services, Inc.‘s
(TSYS’ or the Company’s) results of operations and financial position over the last five years are presented below.
Years Ended December 31,
(in thousands, except per share data) 2014 2013 2012 2011 2010
Income Statement Data:
Total revenues .............................. $2,446,877 2,064,305 1,793,557 1,733,237 1,657,196
Operating income ........................... $ 431,640 382,500 354,969 321,120 310,213
Income from continuing operations, net of tax . . . $ 280,751 254,542 248,928 218,446 210,711
Income (Loss) from discontinued operations, net
oftax.................................... 48,655 2,055 995 4,216 (5,090)
Net income .............................. 329,406 256,597 249,923 222,662 205,621
Net income attributable to noncontrolling
interests ............................... (6,534) (11,847) (5,643) (2,103) (11,674)
Net income attributable to TSYS common
shareholders ............................ $ 322,872 244,750 244,280 220,559 193,947
Basic earnings per share (EPS)* attributable to
TSYS common shareholders:
Income from continuing operations ........... $ 1.48 1.31 1.31 1.14 1.02
Gain (Loss) from discontinued operations ...... 0.26 (0.01) (0.02) 0.01 (0.04)
Net income .............................. $ 1.73 1.30 1.30 1.15 0.99
Diluted EPS* attributable to TSYS common
shareholders:
Income from continuing operations ........... $ 1.47 1.30 1.31 1.14 1.02
Gain (Loss) from discontinued operations ...... 0.25 (0.01) (0.02) 0.01 (0.04)
Net income .............................. $ 1.72 1.29 1.29 1.15 0.99
Cash dividends declared per share ............. $ 0.40 0.40 0.40 0.31 0.28
As of December 31,
(in thousands) 2014 2013 2012 2011 2010
Balance Sheet Data:
Total assets ............................... $3,733,581 3,686,568 2,023,838 1,858,392 1,952,261
Obligations under long-term borrowings and
capital leases, excluding current portion ...... 1,405,106 1,435,751 192,014 63,593 225,276
* Basic and diluted EPS amounts for continuing operations and net income do not total due to rounding.
Financial Overview
TSYS’ revenues are derived from providing global payment processing services to financial and nonfinancial
institutions, generally under long-term processing contracts. In addition, the Company derived revenues from
providing processing services, acquiring solutions, related systems and integrated support services to merchant
acquirers and merchants. The Company also derives revenues by providing general-purpose reloadable (GPR)
prepaid debit cards and payroll cards and alternative financial services to underbanked and other consumers. The
Company’s services are provided through the Company’s four operating segments: North America Services,
International Services, Merchant Services and NetSpend.
Through the Company’s North America Services and International Services segments, TSYS processes information
through its cardholder systems to financial institutions throughout the United States and internationally. The
11