NetSpend 2014 Annual Report Download - page 39

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bonds. However, there can be no assurance that funds will be available on terms acceptable to TSYS.
Management expects that TSYS will continue to be able to fund a significant portion of its capital expenditure
needs through internally generated cash in the future, as evidenced by TSYS’ current ratio of 2.3:1. As of
December 31, 2014, TSYS had working capital of $394.0 million, compared to $356.7 million in 2013 and $344.2
million in 2012.
Legal Proceedings
Refer to Note 16 in the Consolidated Financial Statements for information regarding the Company’s
commitments and contingencies including legal proceedings.
Forward-Looking Statements
Certain statements contained in this filing which are not statements of historical fact constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act (the Act). These forward-looking
statements include, among others: (i) TSYS’ expectation that the loss of Bank of America as a merchant services
client will not have a material adverse effect on TSYS’ business; (ii) TSYS’ expectation that the Durbin Amendment
will not have a significant negative impact on TSYS’ business; (iii) TSYS’ expectation with respect to the effect of
recent accounting pronouncements; (iv) TSYS’ expectation that it will be able to fund a significant portion of its
capital expenditure needs through internally generated cash in the future; (v) TSYS’ earnings guidance for 2015
total revenues, revenues before reimbursable items, and adjusted EPS attributable to TSYS’ common
shareholders from continuing operations; (vi) TSYS’ belief with respect to lawsuits, claims and other complaints;
(vii) TSYS’ expectation with respect to certain tax matters; (viii) the Board’s intention to continue to pay cash
dividends, and the assumptions underlying such statements. In addition, certain statements in future filings by
TSYS with the Securities and Exchange Commission, in press releases, and in oral and written statements made
by or with the approval of TSYS which are not statements of historical fact constitute forward-looking statements
within the meaning of the Act. Examples of forward-looking statements include, but are not limited to:
(i) projections of revenue, income or loss, earnings or loss per share, the payment or nonpayment of dividends,
capital structure and other financial items; (ii) statements of plans and objectives of TSYS or its management or
Board of Directors, including those relating to products or services; (iii) statements of future economic
performance; and (iv) statements of assumptions underlying such statements. Words such as “believes,”
“anticipates,” “expects,” “intends,” “targeted,” “estimates,” “projects,” “plans,” “may,” “could,” “should,”
“would,” and similar expressions are intended to identify forward-looking statements but are not the exclusive
means of identifying these statements.
These statements are based upon the current beliefs and expectations of TSYS’ management and are subject to
significant risks and uncertainties. Actual results may differ materially from those contemplated by the forward-
looking statements. A number of important factors could cause actual results to differ materially from those
contemplated by the Company’s forward-looking statements. Many of these factors are beyond TSYS’ ability to
control or predict. These factors include, but are not limited to:
• the material breach of security of any of TSYS’ systems;
• TSYS incurs expenses associated with the signing of a significant client;
• organic growth rates for TSYS’ existing clients are lower than anticipated whether as a result of
unemployment rates, card delinquencies and charge off rates or otherwise or attrition rates of existing clients
are higher than anticipated;
• TSYS does not convert and deconvert clients’ portfolios as scheduled;
• risks associated with foreign operations, including adverse developments with respect to foreign currency
exchange rates;
• adverse developments with respect to entering into contracts with new clients and retaining current clients;
• consolidation in the financial services and other industries, including the merger of TSYS clients with entities
that are not TSYS processing clients, the sale of portfolios by TSYS clients to entities that are not TSYS
processing clients and financial institutions which are TSYS clients otherwise ceasing to exist;
36