Global Payments (GPN) 10-Q 30 Jul 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2019	Jul. 25, 2019
Cover page.
Entity Central Index Key	0001123360
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-16111
Entity Registrant Name	GLOBAL PAYMENTS INC
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	58-2567903
Entity Address, Address Line One	3550 Lenox Road
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30326
City Area Code	770
Local Phone Number	829-8000
Title of 12(b) Security	Common stock, no par value
Trading Symbol	GPN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		156,678,101

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenues	$ 935,152	$ 833,164	$ 1,818,190	$ 1,628,141
Operating expenses:
Cost of service	302,276	264,544	607,505	516,930
Selling, general and administrative	411,150	377,883	789,467	764,304
Total operating expenses	713,426	642,427	1,396,972	1,281,234
Operating income	221,726	190,737	421,218	346,907
Other income (expense):
Interest and other income	6,176	2,568	9,112	14,262
Interest and other expense	(65,616)	(47,720)	(124,697)	(93,325)
Total nonoperating income (expense)	(59,440)	(45,152)	(115,585)	(79,063)
Income before income taxes	162,286	145,585	305,633	267,844
Provision for income taxes	(32,247)	(27,856)	(56,388)	(52,529)
Net income	130,039	117,729	249,245	215,315
Net income attributable to noncontrolling interests, net of income tax	(9,581)	(8,660)	(16,445)	(14,847)
Net income attributable to Global Payments	$ 120,458	$ 109,069	$ 232,800	$ 200,468
Earnings per share attributable to Global Payments:
Basic earnings per share (USD per share)	$ 0.77	$ 0.69	$ 1.48	$ 1.26
Diluted earnings per share (USD per share)	$ 0.77	$ 0.68	$ 1.48	$ 1.25

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 130,039	$ 117,729	$ 249,245	$ 215,315
Other comprehensive income (loss):
Foreign currency translation adjustments	7,704	(78,550)	12,902	(65,225)
Income tax benefit (provision) related to foreign currency translation adjustments	1,517	(763)	1,551	(365)
Net unrealized gains (losses) on hedging activities	(42,222)	2,932	(56,731)	10,508
Reclassification of net unrealized gains on hedging activities to interest expense	(893)	(1,104)	(2,723)	(1,167)
Income tax benefit (provision) related to hedging activities	10,527	(445)	14,512	(2,310)
Other, net of tax	17	52	128	0
Other comprehensive loss	(23,350)	(77,878)	(30,361)	(58,559)
Comprehensive income	106,689	39,851	218,884	156,756
Comprehensive (income) loss attributable to noncontrolling interests	(13,529)	2,551	(15,815)	(14,930)
Comprehensive income attributable to Global Payments	$ 93,160	$ 42,402	$ 203,069	$ 141,826

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 1,047,727	$ 1,210,878
Accounts receivable, net	394,603	348,400
Settlement processing assets	2,844,267	1,600,222
Prepaid expenses and other current assets	261,082	216,708
Total current assets	4,547,679	3,376,208
Goodwill	6,345,563	6,341,355
Other intangible assets, net	2,308,333	2,488,618
Property and equipment, net	712,396	653,542
Deferred income taxes	6,950	8,128
Other noncurrent assets	663,151	362,923
Total assets	14,584,072	13,230,774
Current liabilities:
Settlement lines of credit	736,209	700,486
Current portion of long-term debt	151,062	115,075
Accounts payable and accrued liabilities	1,117,938	1,176,703
Settlement processing obligations	2,478,373	1,276,356
Total current liabilities	4,483,582	3,268,620
Long-term debt	5,000,585	5,015,168
Deferred income taxes	556,130	585,025
Other noncurrent liabilities	368,659	175,618
Total liabilities	10,408,956	9,044,431
Commitments and contingencies
Equity:
Preferred stock, no par value; 5,000,000 shares authorized and none issued	0	0
Common stock, no par value; 200,000,000 shares authorized; 156,674,688 issued and outstanding at June 30, 2019 and 157,961,982 issued and outstanding at December 31, 2018	0	0
Paid-in capital	2,126,065	2,235,167
Retained earnings	2,204,445	2,066,415
Accumulated other comprehensive loss	(339,906)	(310,175)
Total Global Payments shareholders’ equity	3,990,604	3,991,407
Noncontrolling interests	184,512	194,936
Total equity	4,175,116	4,186,343
Total liabilities and equity	$ 14,584,072	$ 13,230,774

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (USD per share)	$ 0	$ 0
Preferred stock authorized (shares)	5,000,000	5,000,000
Preferred stock issued (shares)	0	0
Common stock, par value (USD per share)	$ 0	$ 0
Common stock authorized (shares)	200,000,000	200,000,000
Common stock issued (shares)	156,674,688	157,961,982
Common stock outstanding (shares)	156,674,688	157,961,982

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 249,245	$ 215,315
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	82,760	69,088
Amortization of acquired intangibles	210,993	176,303
Amortization of capitalized contract costs	31,965	23,835
Share-based compensation expense	27,914	30,104
Provision for operating losses and bad debts	18,637	22,942
Deferred income taxes	(6,483)	(3,061)
Other, net	22,469	(6,228)
Changes in operating assets and liabilities, net of the effects of business combinations:
Accounts receivable	(49,774)	(21,763)
Settlement processing assets and obligations, net	(41,715)	95,232
Prepaid expenses and other assets	(148,435)	(92,154)
Accounts payable and other liabilities	(150,223)	(2,857)
Net cash provided by operating activities	247,353	506,756
Cash flows from investing activities:
Acquisitions, net of cash acquired	(78,245)	0
Capital expenditures	(133,312)	(102,669)
Other, net	13,182	(1,436)
Net cash used in investing activities	(198,375)	(104,105)
Cash flows from financing activities:
Net borrowings (repayments) of settlement lines of credit	32,163	(88,325)
Proceeds from long-term debt	586,000	694,214
Repayments of long-term debt	(569,119)	(1,024,695)
Payment of debt issuance costs	0	(10,884)
Repurchase of common stock	(233,996)	(177,261)
Proceeds from stock issued under share-based compensation plans	12,952	6,340
Common stock repurchased - share-based compensation plans	(11,167)	(9,989)
Distributions to noncontrolling interests	(26,239)	0
Dividends paid	(3,137)	(3,171)
Net cash used in financing activities	(212,543)	(613,771)
Effect of exchange rate changes on cash	414	(25,206)
Decrease in cash and cash equivalents	(163,151)	(236,326)
Cash and cash equivalents, beginning of the period	1,210,878	1,335,855
Cash and cash equivalents, end of the period	$ 1,047,727	$ 1,099,529

UNAUDITED CONSOLIDATED STATEM_4

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Total Global Payments Shareholders’ Equity	Number of Shares	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Balance at beginning of period (shares) at Dec. 31, 2017			159,180,000
Balance at beginning of period at Dec. 31, 2017	$ 3,965,231	$ 3,794,527		$ 2,379,774	$ 1,597,897	$ (183,144)	$ 170,704
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	215,315	200,468			200,468		14,847
Other comprehensive (loss) income	(58,559)	(58,642)				(58,642)	83
Stock issued under share-based compensation plans (shares)			570,000
Stock issued under share-based compensation plans	6,340	6,340		6,340
Common stock repurchased - share based compensation plans (shares)			(67,000)
Common stock repurchased - share-based compensation plans	(7,489)	(7,489)		(7,489)
Share-based compensation expense	$ 30,104	30,104		30,104
Repurchase of common stock (shares)	(1,612,174)		(1,612,000)
Repurchase of common stock	$ (180,897)	(180,897)		(153,946)	(26,951)
Dividends paid	(3,171)	(3,171)			(3,171)
Balance at end of period (shares) at Jun. 30, 2018			158,071,000
Balance at end of period at Jun. 30, 2018	4,016,001	3,830,367		2,254,783	1,819,213	(243,629)	185,634
Balance at beginning of period (shares) at Mar. 31, 2018			159,533,000
Balance at beginning of period at Mar. 31, 2018	4,139,790	3,951,606		2,390,022	1,738,545	(176,961)	188,184
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	117,729	109,069			109,069		8,660
Other comprehensive (loss) income	(77,878)	(66,668)				(66,668)	(11,210)
Stock issued under share-based compensation plans (shares)			151,000
Stock issued under share-based compensation plans	3,727	3,727		3,727
Common stock repurchased - share based compensation plans (shares)			(10,000)
Common stock repurchased - share-based compensation plans	(1,078)	(1,078)		(1,078)
Share-based compensation expense	$ 15,206	15,206		15,206
Repurchase of common stock (shares)	(1,603,248)		(1,603,000)
Repurchase of common stock	$ (179,917)	(179,917)		(153,094)	(26,823)
Dividends paid	(1,578)	(1,578)			(1,578)
Balance at end of period (shares) at Jun. 30, 2018			158,071,000
Balance at end of period at Jun. 30, 2018	4,016,001	3,830,367		2,254,783	1,819,213	(243,629)	185,634
Balance at beginning of period (shares) at Dec. 31, 2018			157,962,000
Balance at beginning of period at Dec. 31, 2018	4,186,343	3,991,407		2,235,167	2,066,415	(310,175)	194,936
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	249,245	232,800			232,800		16,445
Other comprehensive (loss) income	(30,361)	(29,731)				(29,731)	(630)
Stock issued under share-based compensation plans (shares)			609,000
Stock issued under share-based compensation plans	12,952	12,952		12,952
Common stock repurchased - share based compensation plans (shares)			(88,000)
Common stock repurchased - share-based compensation plans	(11,606)	(11,606)		(11,606)
Share-based compensation expense	27,914	27,914		27,914
Distributions to noncontrolling interest	$ (26,239)						(26,239)
Repurchase of common stock (shares)	(1,808,398)		(1,808,000)
Repurchase of common stock	$ (229,995)	(229,995)		(138,362)	(91,633)
Dividends paid	(3,137)	(3,137)			(3,137)
Balance at end of period (shares) at Jun. 30, 2019			156,675,000
Balance at end of period at Jun. 30, 2019	4,175,116	3,990,604		2,126,065	2,204,445	(339,906)	184,512
Balance at beginning of period (shares) at Mar. 31, 2019			157,130,000
Balance at beginning of period at Mar. 31, 2019	4,142,461	3,950,813		2,151,623	2,111,798	(312,608)	191,648
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	130,039	120,458			120,458		9,581
Other comprehensive (loss) income	(23,350)	(27,298)				(27,298)	3,948
Stock issued under share-based compensation plans (shares)			67,000
Stock issued under share-based compensation plans	5,104	5,104		5,104
Common stock repurchased - share based compensation plans (shares)			(9,000)
Common stock repurchased - share-based compensation plans	(1,406)	(1,406)		(1,406)
Share-based compensation expense	16,497	16,497		16,497
Distributions to noncontrolling interest	$ (20,665)						(20,665)
Repurchase of common stock (shares)	(513,116)		(513,000)
Repurchase of common stock	$ (71,999)	(71,999)		(45,753)	(26,246)
Dividends paid	(1,565)	(1,565)			(1,565)
Balance at end of period (shares) at Jun. 30, 2019			156,675,000
Balance at end of period at Jun. 30, 2019	$ 4,175,116	$ 3,990,604		$ 2,126,065	$ 2,204,445	$ (339,906)	$ 184,512

UNAUDITED CONSOLIDATED STATEM_5

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Stockholders' Equity [Abstract]
Dividends per share (USD per share)	$ 0.01	$ 0.01	$ 0.02	$ 0.02

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business, consolidation and presentation — We are a leading worldwide provider of payment technology and software solutions delivering innovative services to our customers globally. Our technologies, services and employee expertise enable us to provide a broad range of solutions that allow our customers to accept various payment types and operate their businesses more efficiently. We distribute our services across a variety of channels in 32 countries throughout North America, Europe, the Asia-Pacific region and Brazil and operate in three reportable segments: North America, Europe and Asia-Pacific. We were incorporated in Georgia as Global Payments Inc. in 2000 and spun-off from our former parent company in 2001 . Including our time as part of our former parent company, we have been in the payment technology services business since 1967 . Global Payments Inc. and its consolidated subsidiaries are referred to herein collectively as "Global Payments," the "Company," "we," "our" or "us," unless the context requires otherwise. These unaudited consolidated financial statements include our accounts and those of our majority-owned subsidiaries, and all intercompany balances and transactions have been eliminated in consolidation. These unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The consolidated balance sheet as of December 31, 2018 was derived from the audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2018 but does not include all disclosures required by GAAP for annual financial statements. In the opinion of our management, all known adjustments necessary for a fair presentation of the results of the interim periods have been made. These adjustments consist of normal recurring accruals and estimates that affect the carrying amount of assets and liabilities. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018 . On May 27, 2019 , Global Payments and Total System Services, Inc. ("TSYS") entered into an Agreement and Plan of Merger ("Merger Agreement") providing for the merger of TSYS with and into Global Payments, with Global Payments as the surviving entity (the "Merger"). TSYS is a leading global payments provider, offering seamless, secure and innovative solutions across the payments spectrum - for issuers, merchants and consumers. The Merger is subject to the satisfaction or waiver of the closing conditions set forth in the Merger Agreement, including shareholder approval for both companies. Upon completion of the Merger, TSYS will no longer be a separate publicly traded corporation. Global Payments will continue to trade on the New York Stock Exchange. See "Note 2 —Acquisitions" and "Note 7—Long-Term Debt and Lines of Credit" for further information about the proposed Merger and related debt financing. Use of estimates — The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reported period. Actual results could differ materially from those estimates. Recently Adopted Accounting Pronouncements — In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-02, "Leases." ASU 2016-02 requires recognition of assets and liabilities for the rights and obligations created by leases and new disclosures about leases. We adopted ASU 2016-02, as well as other related clarifications and interpretive guidance issued by the FASB, on January 1, 2019 using the optional modified retrospective transition method. Under this transition method, we did not recast the prior period financial statements presented. We elected the transition package of three practical expedients, which among other things, allowed for the carryforward of historical lease classifications. We made accounting policy elections to not recognize assets or liabilities for leases with a term of less than twelve months and to account for all components in a lease arrangement as a single combined lease component. The adoption of ASU 2016-02 resulted in the measurement and recognition of lease liabilities in the amount of $274.0 million and right-of-use assets in the amount of $236.0 million as of January 1, 2019. Lease liabilities were measured as the present value of remaining lease payments, and the corresponding right-of-use assets were measured at an amount equal to the lease liabilities adjusted by the amounts of certain assets and liabilities, such as deferred lease obligations and prepaid rent, that we previously recognized on the balance sheet prior to the initial application of ASU 2016-02. To calculate the present value of remaining lease payments, we elected to use an incremental borrowing rate based on the remaining lease term at transition. Recently Issued Pronouncements Not Yet Adopted — In August 2018, the FASB issued ASU 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract (A Consensus of the FASB Emerging Issues Task Force)." ASU 2018-15 provides additional guidance on the accounting for costs of implementation activities performed in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract. The new guidance amends the definition of a hosting arrangement and requires a customer in a hosting arrangement that is a service contract to capitalize certain implementation costs as if the arrangement was an internal-use software project. We have historically capitalized implementation costs for internal-use software projects and will continue to do so pursuant to the clarifications provided in the new guidance. We expect to amortize deferred implementation costs to expense on a straight-line basis over the term of the hosting arrangement. The amendments in this update also provide additional presentation and disclosure requirements, including requirements to disclose the nature of an entity’s hosting arrangements that are service contracts, as well as quantitative information about capitalized implementation costs and related amortization expense. The guidance will become effective for us on January 1, 2020. Entities have the option to apply the guidance prospectively to all implementation costs incurred after the date of adoption or retrospectively. We are comparing the guidance in ASU 2018-15 to our current accounting practices for costs of implementation activities performed in cloud computing arrangements. We have not yet quantified the effect, if any, of ASU 2018-15 on our consolidated balance sheet or our statements of income and cash flows. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS Pending Merger with TSYS In connection with the proposed Merger, we have determined that Global Payments would be the acquirer of TSYS for accounting purposes. In the proposed Merger, holders of TSYS common stock would receive 0.8101 shares of Global Payments common stock for each share of TSYS common stock they own at the effective time of the Merger ("Exchange Ratio"). The preliminary estimated Merger consideration to be transfered to TSYS shareholders is $23.7 billion based on the number of TSYS common shares outstanding and the closing price of our common stock on July 25, 2019 . Merger consideration will include the amount of TSYS' unsecured revolving credit facility that we are required to repay upon consummation of the Merger. During the three and six months ended June 30, 2019 , we incurred transaction costs related to the Merger of $12.2 million . We expect the Merger to close in the fourth quarter of 2019 , subject to customary closing conditions, regulatory approvals and shareholder approval for both companies. See "Note 7 —Long-Term Debt and Lines of Credit" for a description of related debt financing activities. Business Combinations The transactions described below were accounted for as business combinations, which requires that we record the assets acquired and liabilities assumed at fair value as of the acquisition date. SICOM On October 17, 2018 , we acquired SICOM Systems, Inc. ("SICOM") for total purchase consideration of $410.2 million , which we funded with cash on hand and by drawing on our Revolving Credit Facility (described in "Note 7 —Long-Term Debt and Lines of Credit"). SICOM is a provider of end-to-end enterprise, cloud-based software solutions and other technologies to quick service restaurants and food service management companies. The provisional estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed as of June 30, 2019 , including a reconciliation to the total purchase consideration, were as follows (in thousands): Cash and cash equivalents $ 7,540 Property and equipment 5,838 Identified intangible assets 188,294 Other assets 22,275 Deferred income taxes (48,560 ) Other liabilities (31,350 ) Total identifiable net assets 144,037 Goodwill 266,164 Total purchase consideration $ 410,201 During the six months ended June 30, 2019 , we made an adjustment of $1.0 million to reflect an increase in the total purchase consideration. As of June 30, 2019 , we considered these balances to be provisional because we were still in the process of gathering and reviewing information to support the valuations of the assets acquired and liabilities assumed. Goodwill arising from the acquisition of $266.2 million , included in the North America segment, was attributable to expected growth opportunities, an assembled workforce and potential synergies from combining our existing businesses. We expect that approximately $40 million of the goodwill from this acquisition will be deductible for income tax purposes. The following table reflects the estimated fair values of the identified intangible assets of SICOM and the respective aggregated weighted-average estimated amortization periods: Estimated Fair Values Weighted-Average Estimated Amortization Periods (in thousands) (years) Customer-related intangible assets $ 104,900 14 Acquired technologies 65,312 6 Trademarks and trade names 11,202 3 Contract-based intangible assets 6,880 5 Total estimated identified intangible assets $ 188,294 10 AdvancedMD On September 4, 2018 , we acquired AdvancedMD, Inc. ("AdvancedMD") for total purchase consideration of $706.9 million , which we funded with cash on hand and by drawing on our Revolving Credit Facility. AdvancedMD is a provider of cloud-based enterprise software solutions to small-to-medium sized ambulatory care physician practices. The provisional estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed as of June 30, 2019 , including a reconciliation to the total purchase consideration, were as follows (in thousands): Cash and cash equivalents $ 7,657 Property and equipment 5,672 Identified intangible assets 419,500 Other assets 11,785 Deferred income taxes (93,372 ) Other liabilities (15,647 ) Total identifiable net assets 335,595 Goodwill 371,290 Total purchase consideration $ 706,885 During the six months ended June 30, 2019 , we made measurement period adjustments, including a $5.6 million reduction to deferred income tax liabilities, which resulted in a corresponding reduction to goodwill. As of June 30, 2019 , we considered these balances to be provisional because we were still in the process of gathering and reviewing information to support the valuation of the assets acquired and liabilities assumed. Goodwill arising from the acquisition of $371.3 million , included in the North America segment, was attributable to expected growth opportunities, an assembled workforce and potential synergies from combining our existing businesses. We expect that substantially all of the goodwill from this acquisition will not be deductible for income tax purposes. The following table reflects the estimated fair values of the identified intangible assets of AdvancedMD and the respective aggregated weighted-average estimated amortization periods: Estimated Fair Values Weighted-Average Estimated Amortization Periods (in thousands) (years) Customer-related intangible assets $ 303,100 11 Acquired technologies 83,700 5 Trademarks and trade names 32,700 15 Total estimated identified intangible assets $ 419,500 10 Valuation of Identified Intangible Assets

REVENUES

REVENUES	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES The following tables present a disaggregation of our revenue from contracts with customers by distribution channel for the three and six months ended June 30, 2019 and 2018: Three Months Ended June 30, 2019 North America Europe Asia-Pacific Total (in thousands) Direct: Relationship-led $ 301,094 $ 110,655 $ 30,742 $ 442,491 Technology-enabled 349,839 49,694 28,142 427,675 650,933 160,349 58,884 870,166 Wholesale 64,986 — — 64,986 $ 715,919 $ 160,349 $ 58,884 $ 935,152 Three Months Ended June 30, 2018 North America Europe Asia-Pacific Total (in thousands) Direct: Relationship-led $ 244,861 $ 102,960 $ 32,371 $ 380,192 Technology-enabled 296,419 52,671 23,361 372,451 541,280 155,631 55,732 752,643 Wholesale 80,521 — — 80,521 $ 621,801 $ 155,631 $ 55,732 $ 833,164 Six Months Ended June 30, 2019 North America Europe Asia-Pacific Total (in thousands) Direct: Relationship-led $ 571,637 $ 205,220 $ 64,161 $ 841,018 Technology-enabled 691,947 97,998 56,470 846,415 1,263,584 303,218 120,631 1,687,433 Wholesale 130,757 — — 130,757 $ 1,394,341 $ 303,218 $ 120,631 $ 1,818,190 Six Months Ended June 30, 2018 North America Europe Asia-Pacific Total (in thousands) Direct: Relationship-led $ 471,281 $ 195,174 $ 67,613 $ 734,068 Technology-enabled 579,776 103,734 45,790 729,300 1,051,057 298,908 113,403 1,463,368 Wholesale 164,773 — — 164,773 $ 1,215,830 $ 298,908 $ 113,403 $ 1,628,141 ASC 606 requires that we determine for each customer arrangement whether revenue should be recognized at a point in time or over time. For the three and six months ended June 30, 2019 and 2018 , substantially all of our revenues were recognized over time. Supplemental balance sheet information related to contracts from customers as of June 30, 2019 and December 31, 2018 was as follows: Balance Sheet Location June 30, 2019 December 31, 2018 (in thousands) Assets: Capitalized costs to obtain customer contracts, net Other noncurrent assets $ 210,609 $ 194,616 Capitalized costs to fulfill customer contracts, net Other noncurrent assets $ 19,319 $ 12,954 Liabilities: Contract liabilities, net (current) Accounts payable and accrued liabilities $ 156,930 $ 146,947 Contract liabilities, net (noncurrent) Other noncurrent liabilities $ 9,532 $ 8,595 Revenue recognized for the three months ended June 30, 2019 and 2018 from contract liability balances at the beginning of each period was $52.0 million and $37.0 million , respectively. Revenue recognized for the six months ended June 30, 2019 and 2018 from contract liability balances at the beginning of each period was $97.1 million and $69.9 million , respectively.

SETTLEMENT PROCESSING ASSETS AN

SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS	6 Months Ended
	Jun. 30, 2019
Offsetting [Abstract]
SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS	SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS As of June 30, 2019 and December 31, 2018 , settlement processing assets and obligations consisted of the following: June 30, 2019 December 31, 2018 (in thousands) Settlement processing assets: Interchange reimbursement $ 260,103 $ 154,978 Receivable from members 176,687 228,107 Receivable from networks 2,412,382 1,221,060 Exception items 11,042 7,636 Merchant reserves (15,947 ) (11,559 ) $ 2,844,267 $ 1,600,222 Settlement processing obligations: Interchange reimbursement $ 89,895 $ 193,235 Liability to members (23,815 ) (182,450 ) Liability to merchants (2,400,467 ) (1,144,249 ) Exception items 11,505 7,146 Merchant reserves (151,450 ) (145,826 ) Reserve for operating losses and sales allowances (4,041 ) (4,212 ) $ (2,478,373 ) $ (1,276,356 )

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS As of June 30, 2019 and December 31, 2018 , goodwill and other intangible assets consisted of the following: June 30, 2019 December 31, 2018 (in thousands) Goodwill $ 6,345,563 $ 6,341,355 Other intangible assets: Customer-related intangible assets $ 2,496,055 $ 2,486,217 Acquired technologies 920,398 896,701 Trademarks and trade names 288,003 289,588 Contract-based intangible assets 175,397 178,391 3,879,853 3,850,897 Less accumulated amortization: Customer-related intangible assets 970,427 860,715 Acquired technologies 429,592 351,170 Trademarks and trade names 97,964 83,234 Contract-based intangible assets 73,537 67,160 1,571,520 1,362,279 $ 2,308,333 $ 2,488,618 The following table sets forth the changes in the carrying amount of goodwill for the six months ended June 30, 2019 : North America Europe Asia-Pacific Total (in thousands) Balance at December 31, 2018 $ 5,530,087 $ 484,761 $ 326,507 $ 6,341,355 Effect of foreign currency translation 4,878 (724 ) (570 ) 3,584 Measurement-period adjustments (4,092 ) — 4,716 624 Balance at June 30, 2019 $ 5,530,873 $ 484,037 $ 330,653 $ 6,345,563 There were no accumulated impairment losses for goodwill as of June 30, 2019 or December 31, 2018 .

LEASES

LEASES	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
LEASES	LEASES Our leases consist primarily of operating real estate leases for office space in the markets in which we conduct business. Many of our operating leases include escalating rental payments and incentives, as well as termination and renewal options. Certain of our lease agreements provide that we pay the cost of property taxes, insurance and maintenance. As described in "Note 1 —Basis of Presentation and Summary of Significant Accounting Policies," we adopted ASU 2016-02 on January 1, 2019. Unless otherwise indicated, the following information in this footnote applies only to periods after December 31, 2018. We evaluate each of our lease and service arrangements at inception to determine if the arrangement is, or contains, a lease and the appropriate classification of each identified lease. A lease exists if we obtain substantially all of the economic benefits of, and have the right to control the use of, an asset for a period of time. Right-of-use assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease agreement. We recognize right-of-use assets and leases liabilities at the lease commencement date based on the present values of fixed lease payments over the term of the lease. Lease costs are recognized as expense on a straight-line basis over the lease term. We consider a termination or renewal option in the determination of the lease term when it is reasonably certain that we will exercise that option. The weighted-average remaining lease term at June 30, 2019 was 10.1 years. Because our leases generally do not provide a readily determinable implicit interest rate, we use an incremental borrowing rate to measure the lease liability and associated right-of-use asset at the lease commencement date. The incremental borrowing rate used is a fully collateralized rate that considers our credit rating, market conditions and the term of the lease at the lease commencement date. As of June 30, 2019 , the weighted-average discount rate used in the measurement of our lease liabilities was 5.0% . The effects of adopting ASU 2016-02 on our balance sheet, as of January 1, 2019, are set forth in the table below. Adoption did not have a material effect on any line items in our consolidated statement of income or on our cash flows from operating activities, investing activities or financing activities included in our consolidated statement of cash flows. As of June 30, 2019 and January 1, 2019, right-of-use assets and lease liabilities consisted of the following (in thousands): Balance Sheet Location June 30, 2019 January 1, 2019 Assets: Operating lease right-of-use assets (1) Other noncurrent assets $ 219,006 $ 235,979 Liabilities: Operating lease liabilities (current) Accounts payable and accrued liabilities $ 34,589 $ 37,339 Operating lease liabilities (noncurrent) Other noncurrent liabilities 224,751 236,697 Total operating lease liabilities $ 259,340 $ 274,036 (1) Approximately 90% of our operating lease right-of-use assets are located in the United States. As of June 30, 2019 , maturities of lease liabilities were as follows (in thousands): Year ending December 31, 2019 $ 24,694 2020 42,249 2021 35,221 2022 32,536 2023 28,964 2024 27,187 2025 and thereafter 147,981 Total lease payments (1) 338,832 Imputed interest (79,492 ) Total operating lease liabilities $ 259,340 (1) Total lease payments do not include approximately $86.0 million for operating leases that had not yet commenced at June 30, 2019 . We expect the lease commencement dates for these leases to occur later in 2019 and in 2020. Operating lease costs in our consolidated statement of income for the three months ended June 30, 2019 were $14.1 million , including $12.9 million in selling, general and administrative expenses and $1.2 million in cost of services. Operating lease costs in our consolidated statement of income for the six months ended June 30, 2019 were $29.8 million , including $27.4 million in selling, general and administrative expenses and $2.4 million in cost of services. Total lease costs for the three and six months ended June 30, 2019 include variable lease costs of approximately $2.6 million and $5.0 million , respectively, which are primarily comprised of the cost of property taxes, insurance and maintenance. Lease costs for leases with a term of less than twelve months were not material for the three and six months ended June 30, 2019 . Cash paid for amounts included in the measurement of operating lease liabilities for the six months ended June 30, 2019 was $26.1 million , which is included as a component of cash provided by operating activities in the consolidated statement of cash flows. Operating lease liabilities arising from obtaining new or modified right-of-use assets, net of reductions resulting from certain lease modifications, were approximately $4.0 million for the six months ended June 30, 2019 . Future minimum payments at December 31, 2018 for noncancelable operating leases were as follows (in thousands): Year ending December 31: 2019 $ 50,095 2020 47,700 2021 40,035 2022 37,055 2023 33,298 2024 and thereafter 225,225 Total future minimum payments (1) $ 433,408 (1) Future minimum lease payments include approximately $70 million for operating leases that had not commenced at December 31, 2018.

LONG-TERM DEBT AND LINES OF CRE

LONG-TERM DEBT AND LINES OF CREDIT	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
LONG-TERM DEBT AND LINES OF CREDIT	LONG-TERM DEBT AND LINES OF CREDIT As of June 30, 2019 and December 31, 2018 , long-term debt consisted of the following: June 30, 2019 December 31, 2018 (in thousands) Credit Facility: Term loans (face amounts of $4,419,554 and $4,463,643 at June 30, 2019 and December 31, 2018, respectively, less unamortized debt issuance costs of $32,906 and $37,400 at June 30, 2019 and December 31, 2018, respectively) $ 4,386,647 $ 4,426,243 Revolving Credit Facility 765,000 704,000 Total long-term debt 5,151,647 5,130,243 Less current portion of Credit Facility 151,062 115,075 Long-term debt, excluding current portion $ 5,000,585 $ 5,015,168 The maturity requirements on long-term debt as of June 30, 2019 are as follows by year (in thousands): Year ending December 31, 2019 $ 80,087 2020 159,979 2021 195,848 2022 267,587 2023 4,006,053 2024 and thereafter 475,000 Total $ 5,184,554 Credit Facility We are party to a credit facility agreement with Bank of America, N.A., as administrative agent, and a syndicate of financial institutions as lenders and other agents (as amended from time to time, the "Credit Facility"). As of June 30, 2019 , the Credit Facility provided for secured financing comprised of (i) a $1.5 billion revolving credit facility ("Revolving Credit Facility"); (ii) a $1.5 billion term loan ("Term A Loan"); (iii) a $1.37 billion term loan ("Term A-2 Loan"); (iv) a $1.14 billion term loan ("Term B-2 Loan"); and (v) a $500 million term loan ("Term B-4 Loan"). Substantially all of the assets of our domestic subsidiaries are pledged as collateral under the Credit Facility. The Credit Facility provides for an interest rate, at our election, of either London Interbank Offered Rate or a base rate, in each case plus a margin. As of June 30, 2019 , the interest rates on the Term A Loan, the Term A-2 Loan, the Term B-2 Loan and the Term B-4 Loan were 3.90% , 3.90% , 4.15% and 4.15% , respectively. As of June 30, 2019 , the interest rate on the Revolving Credit Facility was 3.89% . In addition, we are required to pay a quarterly commitment fee with respect to the unused portion of the Revolving Credit Facility at an applicable rate per annum ranging from 0.20% to 0.30% depending on our leverage ratio. The Term A Loan and the Term A-2 Loan mature, and the Revolving Credit Facility expires, on January 20, 2023 . The Term B-2 Loan matures on April 22, 2023 . The Term B-4 Loan matures on October 18, 2025 . The Term A Loan and Term A-2 Loan principal amounts must each be repaid in quarterly installments in the amount of 1.25% of principal through June 2021 , increasing to 1.875% of principal through June 2022 and increasing to 2.50% of principal through December 2022 , with the remaining principal balance due upon maturity in January 2023 . The Term B-2 Loan principal must be repaid in quarterly installments in the amount of 0.25% of principal through March 2023 , with the remaining principal balance due upon maturity in April 2023 . The Term B-4 Loan principal must be repaid in quarterly installments in the amount of 0.25% of principal through September 2025 , with the remaining principal balance due upon maturity in October 2025 . We may issue standby letters of credit of up to $100 million in the aggregate under the Revolving Credit Facility. Outstanding letters of credit under the Revolving Credit Facility reduce the amount of borrowings available to us. Borrowings available to us under the Revolving Credit Facility are further limited by the covenants described below under "Compliance with Covenants." The total available commitments under the Revolving Credit Facility at June 30, 2019 were $723.2 million . The portions of deferred debt issuance costs related to the Revolving Credit Facility are included in prepaid expenses and other current assets and other noncurrent assets, and the portion of deferred debt issuance costs related to the term loans is reported as a reduction to the carrying amount of the term loans. Debt issuance costs are amortized as an adjustment to interest expense over the terms of the respective facilities. Compliance with Covenants The Credit Facility agreement contains customary affirmative and restrictive covenants, including, among others, financial covenants based on our leverage and interest coverage ratios, as defined in the agreement. As of June 30, 2019 , financial covenants under the Credit Facility Agreement required a leverage ratio no greater than: (i) 5.00 to 1.00 as of the end of any fiscal quarter ending during the period from April 1, 2018 through June 30, 2019 ; (ii) 4.75 to 1.00 as of the end of any fiscal quarter ending during the period from July 1, 2019 through June 30, 2020 ; and (iii) 4.50 to 1.00 as of the end of any fiscal quarter ending thereafter. The interest coverage ratio is required to be no less than 3.25 to 1.00 . The Credit Facility agreement includes covenants, subject in each case to exceptions and qualifications that may restrict certain payments, including in certain circumstances, the repurchasing of our common stock and paying cash dividends in excess of our current rate of $0.01 per share per quarter. We were in compliance with all applicable covenants as of June 30, 2019 . Bridge Facility and New Permanent Financing Arrangements In connection with our entry into the Merger Agreement described in "Note 2 —Acquisitions," on May 27, 2019, we obtained commitments for a $2.75 billion , 364 -day senior unsecured bridge facility (the "Bridge Facility"). The Bridge Facility was established to refinance the Credit Facility and to refinance TSYS' unsecured revolving credit facility in order to establish an unsecured capital structure under which we can assume certain existing TSYS senior notes. We expect to execute permanent financing of $7.5 billion (a new $3.0 billion revolving credit facility and a new $2.0 billion term loan facility, which we entered into on July 9, 2019, as described below, and is expected to also include $2.5 billion of senior notes) prior to the closing of the Merger that will eliminate the need for the Bridge Facility commitments. Fees associated with the Bridge Facility of $11.7 million were capitalized and will be amortized to interest expense through the expected date of termination of the Bridge Facility commitment. For the three and six months ended June 30, 2019 , we recognized $2.9 million of these fees as interest expense. The remaining unamortized portion of $8.8 million is included in prepaid expenses and other current assets on our consolidated balance sheet as of June 30, 2019 . On July 9, 2019 , we entered into a term loan credit agreement ("Term Loan Credit Agreement") and a credit agreement ("Unsecured Revolving Credit Agreement" and, together with the Term Loan Credit Agreement, the "Agreements"), in each case with a syndicate of financial institutions. Upon entry into the Agreements, the aggregate commitments under the Bridge Facility described above were reduced to approximately $2.1 billion . The Term Loan Credit Agreement provides for a senior unsecured $2.0 billion term loan facility and we, at our discretion, have the ability to seek to increase the term loan capacity by an additional $1.0 billion ("Term Loan Facility"). The Unsecured Revolving Credit Agreement provides for a senior unsecured $3.0 billion revolving credit facility ("Unsecured Revolving Credit Facility"). The Term Loan Facility and the Unsecured Revolving Credit Facility will be available for borrowing on the date on which the Merger becomes effective subject to customary limited conditionality for borrowings related to the Merger. The Unsecured Revolving Credit Facility will be otherwise available subject to customary conditionality. The Term Loan Credit Agreement and the Unsecured Revolving Credit Agreement will mature on the fifth anniversary of the closing date of the Merger. Settlement Lines of Credit In various markets where we do business, we have specialized lines of credit, which are restricted for use in funding settlement. The settlement lines of credit generally have variable interest rates, are subject to annual review and are denominated in local currency but may, in some cases, facilitate borrowings in multiple currencies. For certain of our lines of credit, the available credit is increased by the amount of cash we have on deposit in specific accounts with the lender. Accordingly, the amount of the outstanding line of credit may exceed the stated credit limit. As of June 30, 2019 and December 31, 2018 , a total of $68.9 million and $70.6 million , respectively, of cash on deposit was used to determine the available credit. As of June 30, 2019 and December 31, 2018 , respectively, we had $736.2 million and $700.5 million outstanding under these lines of credit with additional capacity of $628.1 million as of June 30, 2019 to fund settlement. The weighted-average interest rate on these borrowings was 3.01% and 2.97% at June 30, 2019 and December 31, 2018 , respectively. During the three months ended June 30, 2019 , the maximum and average outstanding balances under these lines of credit were $873.0 million and $440.5 million , respectively. Derivative Agreements We have interest rate swap agreements with financial institutions to hedge changes in cash flows attributable to interest rate risk on a portion of our variable-rate debt instruments. Net amounts to be received or paid under the swap agreements are reflected as adjustments to interest expense. Since we have designated the interest rate swap agreements as portfolio cash flow hedges, unrealized gains or losses resulting from adjusting the swaps to fair value are recorded as components of other comprehensive income. In addition, in June 2019, in anticipation of the expected issuance of the senior notes in connection with the Merger, as described earlier in this Note, we entered into forward-starting interest rate swap agreements with an aggregate notional amount of $1.0 billion . The forward-starting interest rate swaps, designated as cash flow hedges, are designed to manage the exposure to interest rate volatility with regard to the expected future issuances of senior notes. The effective portion of the gains or losses are reported as a component of other comprehensive loss. Beginning in the period in which the planned issuance occurs and the related derivatives are terminated, the effective portion of the gains or losses will be reclassified into interest expense over the term of the related debt. The fair values of the interest rate swaps were determined based on the present value of the estimated future net cash flows using implied rates in the applicable yield curve as of the valuation date. These derivative instruments were classified within Level 2 of the valuation hierarchy. The table below presents the fair values of our derivative financial instruments designated as cash flow hedges included in the consolidated balance sheets: Fair Values Derivative Financial Instruments Balance Sheet Location Weighted-Average Fixed Rate of Interest at June 30, 2019 Range of Maturity Dates at June 30, 2019 June 30, 2019 December 31, 2018 (in thousands) Interest rate swaps (Notional of $250 million at June 30, 2019 and $750 million at December 31, 2018) Prepaid expenses and other current assets 1.58% December 31, 2019 $ 582 $ 3,200 Interest rate swaps (Notional of $250 million at June 30, 2019 and $550 million at December 31, 2018) Other noncurrent assets 1.34% July 31, 2020 - March 31, 2021 $ 1,317 $ 8,256 Interest rate swaps (Notional of $1.0 billion at June 30, 2019) Accounts payable and accrued liabilities 2.09% December 31, 2019 $ 14,617 $ — Interest rate swaps (Notional of $1.6 billion at June 30, 2019 and $950 million at December 31, 2018) Other noncurrent liabilities 2.57% March 31, 2021 - December 31, 2022 $ 49,886 $ 14,601 The table below presents the effects of our interest rate swaps on the consolidated statements of income and comprehensive income for the three and six months ended June 30, 2019 and 2018 : Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (in thousands) Amount of net unrealized gains (losses) recognized in other comprehensive income $ (42,222 ) $ 2,932 $ (56,731 ) $ 10,508 Amount of net unrealized gains reclassified out of other comprehensive income to interest expense $ (893 ) $ (1,104 ) $ (2,723 ) $ (1,167 ) As of June 30, 2019 , the amount of net unrealized gains in accumulated other comprehensive loss related to our interest rate swaps that is expected to be reclassified into interest expense during the next 12 months was approximately $9.7 million . Interest Expense Interest expense was $65.5 million and $48.1 million for the three months ended June 30, 2019 and 2018 , respectively, and $123.9 million and $93.5 million for the six months ended June 30, 2019 and 2018 , respectively.

INCOME TAX

INCOME TAX	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
INCOME TAX	INCOME TAX Our effective income tax rates were 19.9% and 19.1% for the three months ended June 30, 2019 and 2018, respectively, and 18.4% and 19.6% for the six months ended June 30, 2019 and 2018, respectively. Our effective income tax rates for the three and six months ended June 30, 2019 differs from the U.S. statutory rate primarily due to the excess tax benefits of share-based awards that are recognized upon vesting or settlement and the U.S. tax benefits associated with income derived from foreign customers. We conduct business globally and file income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course of business, we are subject to examination by taxing authorities around the world, including, without limitation, the United States and the United Kingdom. We are no longer subject to state income tax examinations for years ended on or before May 31, 2010 , U.S. federal income tax examinations for years ended on or before May 31, 2013 and U.K. federal income tax examinations for years ended on or before May 31, 2015 .

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
SHAREHOLDERS’ EQUITY	SHAREHOLDERS’ EQUITY We repurchase our common stock mainly through open market repurchase plans and, at times, through accelerated share repurchase programs. During the three months ended June 30, 2019 and 2018, we repurchased and retired 513,116 shares and 1,603,248 shares of our common stock at a cost, including commissions, of $72.0 million and $179.9 million , respectively, or $140.32 per share and $112.20 per share. During the six months ended June 30, 2019 and 2018, we repurchased and retired 1,808,398 shares and 1,612,174 shares of our common stock at a cost, including commissions, of $230.0 million and $180.9 million , respectively, or $127.18 per share and $112.19 per share. As of June 30, 2019 , we were authorized to repurchase up to $566.0 million of our common stock. On July 25, 2019 , our board of directors declared a dividend of $0.01 per share payable on September 27, 2019 to common shareholders of record as of September 13, 2019 . Upon completion of the proposed Merger, our Articles of Incorporation would be amended to increase the number of authorized shares of Global Payments common stock from 200 million to 400 million .

SHARE-BASED AWARDS AND OPTIONS

SHARE-BASED AWARDS AND OPTIONS	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
SHARE-BASED AWARDS AND OPTIONS	SHARE-BASED AWARDS AND OPTIONS The following table summarizes share-based compensation expense and the related income tax benefit recognized for our share-based awards and stock options: Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (in thousands) Share-based compensation expense $ 16,496 $ 15,205 $ 27,914 $ 30,104 Income tax benefit $ 3,728 $ 3,377 $ 6,237 $ 6,662 Share-Based Awards The following table summarizes the changes in unvested restricted stock and performance awards for the six months ended June 30, 2019 : Shares Weighted-Average Grant-Date Fair Value (in thousands) Unvested at December 31, 2018 1,084 $108.51 Granted 475 133.58 Vested (260 ) 94.78 Forfeited (62 ) 107.74 Unvested at June 30, 2019 1,237 $121.06 The total fair value of restricted stock and performance awards vested during the six months ended June 30, 2019 and June 30, 2018 was $24.6 million and $22.8 million , respectively. For restricted stock and performance awards, we recognized compensation expense of $14.8 million and $13.6 million during the three months ended June 30, 2019 and June 30, 2018 , respectively, and $24.9 million and $27.4 million during the six months ended June 30, 2019 and June 30, 2018 , respectively. As of June 30, 2019 , there was $94.7 million of unrecognized compensation expense related to unvested restricted stock and performance awards that we expect to recognize over a weighted-average period of 2.2 years. Our restricted stock and performance award plans provide for accelerated vesting under certain conditions. Stock Options The following table summarizes changes in stock option activity for the six months ended June 30, 2019 : Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (years) (in millions) Outstanding at December 31, 2018 598 $59.16 6.2 $27.3 Granted 109 128.22 Exercised (193 ) 34.01 Outstanding at June 30, 2019 514 $83.31 7.1 $39.5 Options vested and exercisable at June 30, 2019 296 $61.73 5.8 $29.1 We recognized compensation expense for stock options of $ 0.9 million during the three months ended June 30, 2019 and 2018 and $ 1.6 million and $ 1.5 million during the six months ended June 30, 2019 and 2018, respectively. The aggregate intrinsic value of stock options exercised during the six months ended June 30, 2019 and 2018 was $18.9 million and $4.6 million , respectively. As of June 30, 2019 , we had $6.0 million of unrecognized compensation expense related to unvested stock options that we expect to recognize over a weighted-average period of 2.2 years. The weighted-average grant-date fair value of stock options granted during the six months ended June 30, 2019 and 2018 was $39.60 and $35.09 , respectively. Fair value was estimated on the date of grant using the Black-Scholes valuation model with the following weighted-average assumptions: Six Months Ended June 30, 2019 June 30, 2018 Risk-free interest rate 2.49% 2.60% Expected volatility 30% 29% Dividend yield 0.04% 0.04% Expected term (years) 5 5 The risk-free interest rate was based on the yield of a zero coupon U.S. Treasury security with a maturity equal to the expected life of the option from the date of the grant. Our assumption on expected volatility was based on our historical volatility. The dividend yield assumption was determined using our average stock price over the preceding year and the annualized amount of our most current quarterly dividend per share. We based our assumptions on the expected term of the options on our analysis of the historical exercise patterns of the options and our assumption on the future exercise pattern of options.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share ("EPS") was computed by dividing net income attributable to Global Payments by the weighted-average number of shares outstanding during the period. Earnings available to common shareholders was the same as reported net income attributable to Global Payments for all periods presented. Diluted EPS is computed by dividing net income attributable to Global Payments by the weighted-average number of shares outstanding during the period, including the effect of share-based awards that would have a dilutive effect on EPS. All stock options with an exercise price lower than the average market share price of our common stock for the period are assumed to have a dilutive effect on EPS. The following table sets forth the computation of diluted weighted-average number of shares outstanding for the three and six months ended June 30, 2019 and 2018 : Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (in thousands) Basic weighted-average number of shares outstanding 156,768 159,003 157,141 159,161 Plus: Dilutive effect of stock options and other share-based awards 494 674 497 679 Diluted weighted-average number of shares outstanding 157,262 159,677 157,638 159,840

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The changes in the accumulated balances for each component of other comprehensive income (loss) were as follows for the three and six months ended June 30, 2019 and 2018 : Foreign Currency Translation Unrealized Gains (Losses) on Hedging Activities Other Accumulated Other Comprehensive Loss (in thousands) Balance at March 31, 2019 $ (294,467 ) $ (14,725 ) $ (3,416 ) $ (312,608 ) Other comprehensive income (loss) 5,273 (32,588 ) 17 (27,298 ) Balance at June 30, 2019 $ (289,194 ) $ (47,313 ) $ (3,399 ) $ (339,906 ) Balance at March 31, 2018 $ (185,269 ) $ 12,647 $ (4,339 ) $ (176,961 ) Other comprehensive income (loss) (68,103 ) 1,383 52 (66,668 ) Balance at June 30, 2018 $ (253,372 ) $ 14,030 $ (4,287 ) $ (243,629 ) Other comprehensive income (loss) attributable to noncontrolling interests, which relates only to foreign currency translation, was income of $3.9 million and a loss of $11.2 million for the three months ended June 30, 2019 and June 30, 2018 , respectively. Foreign Currency Translation Unrealized Gains (Losses) on Hedging Activities Other Accumulated Other Comprehensive Loss (in thousands) Balance at December 31, 2018 $ (304,274 ) $ (2,374 ) $ (3,527 ) $ (310,175 ) Other comprehensive income (loss) 15,080 (44,939 ) 128 (29,731 ) Balance at June 30, 2019 $ (289,194 ) $ (47,313 ) $ (3,399 ) $ (339,906 ) Balance at December 31, 2017 $ (185,856 ) $ 6,999 $ (4,287 ) $ (183,144 ) Cumulative effect of adoption of new accounting standard (1,843 ) — — (1,843 ) Other comprehensive income (loss) (65,673 ) 7,031 — (58,642 ) Balance at June 30, 2018 $ (253,372 ) $ 14,030 $ (4,287 ) $ (243,629 ) Other comprehensive income (loss) attributable to noncontrolling interests, which relates only to foreign currency translation, was a loss of $0.6 million and income of $0.1 million for the six months ended June 30, 2019 and 2018, respectively.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION We operate in three reportable segments: North America, Europe and Asia-Pacific. We evaluate performance and allocate resources based on the operating income of each operating segment. The operating income of each operating segment includes the revenues of the segment less expenses that are directly related to those revenues. Operating overhead, shared costs and certain compensation costs are included in Corporate in the following table. Interest and other income, interest and other expense and provision for income taxes are not allocated to the individual segments. We do not evaluate the performance of or allocate resources to our operating segments using asset data. The accounting policies of the reportable operating segments are the same as those described in our Annual Report on Form 10-K for the year ended December 31, 2018 and our summary of significant accounting policies in "Note 1 — Basis of Presentation and Summary of Significant Accounting Policies." Information on segments and reconciliations to consolidated revenues and consolidated operating income was as follows for the three and six months ended June 30, 2019 and 2018 : Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (in thousands) Revenues (1) : North America $ 715,919 $ 621,801 $ 1,394,341 $ 1,215,830 Europe 160,349 155,631 303,218 298,908 Asia-Pacific 58,884 55,732 120,631 113,403 Consolidated revenues $ 935,152 $ 833,164 $ 1,818,190 $ 1,628,141 Operating income (loss) (1) : North America $ 185,286 $ 147,184 $ 341,433 $ 272,588 Europe 86,345 82,682 158,306 153,230 Asia-Pacific 23,257 19,577 50,530 43,351 Corporate (2) (73,162 ) (58,706 ) (129,051 ) (122,262 ) Consolidated operating income $ 221,726 $ 190,737 $ 421,218 $ 346,907 Depreciation and amortization (1) : North America $ 124,573 $ 105,433 $ 252,810 $ 207,958 Europe 13,101 11,775 26,095 24,520 Asia-Pacific 5,141 4,726 10,181 9,359 Corporate 2,308 1,714 4,667 3,555 Consolidated depreciation and amortization $ 145,123 $ 123,648 $ 293,753 $ 245,392 (1) Revenues, operating income and depreciation and amortization reflect the effects of acquired businesses from the respective acquisition dates. For further discussion of our acquisitions, see "Note 2 — Acquisitions." (2) During the three months ended June 30, 2019 and 2018, operating loss for Corporate included acquisition and integration expenses of $14.1 million and $8.1 million , respectively. The amount for the three months ended June 30, 2019 included transaction costs related to the Merger of $12.2 million . During the six months ended June 30, 2019 and 2018, operating loss for Corporate included acquisition and integration expenses of $19.5 million and $26.4 million , respectively. The amount for the six months ended June 30, 2019 included transaction costs related to the Merger of $12.2 million .

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Business, consolidation and presentation	Business, consolidation and presentation — We are a leading worldwide provider of payment technology and software solutions delivering innovative services to our customers globally. Our technologies, services and employee expertise enable us to provide a broad range of solutions that allow our customers to accept various payment types and operate their businesses more efficiently. We distribute our services across a variety of channels in 32 countries throughout North America, Europe, the Asia-Pacific region and Brazil and operate in three reportable segments: North America, Europe and Asia-Pacific. We were incorporated in Georgia as Global Payments Inc. in 2000 and spun-off from our former parent company in 2001 . Including our time as part of our former parent company, we have been in the payment technology services business since 1967 . Global Payments Inc. and its consolidated subsidiaries are referred to herein collectively as "Global Payments," the "Company," "we," "our" or "us," unless the context requires otherwise. These unaudited consolidated financial statements include our accounts and those of our majority-owned subsidiaries, and all intercompany balances and transactions have been eliminated in consolidation. These unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The consolidated balance sheet as of December 31, 2018 was derived from the audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2018 but does not include all disclosures required by GAAP for annual financial statements. In the opinion of our management, all known adjustments necessary for a fair presentation of the results of the interim periods have been made. These adjustments consist of normal recurring accruals and estimates that affect the carrying amount of assets and liabilities. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018 . On May 27, 2019 , Global Payments and Total System Services, Inc. ("TSYS") entered into an Agreement and Plan of Merger ("Merger Agreement") providing for the merger of TSYS with and into Global Payments, with Global Payments as the surviving entity (the "Merger"). TSYS is a leading global payments provider, offering seamless, secure and innovative solutions across the payments spectrum - for issuers, merchants and consumers. The Merger is subject to the satisfaction or waiver of the closing conditions set forth in the Merger Agreement, including shareholder approval for both companies. Upon completion of the Merger, TSYS will no longer be a separate publicly traded corporation. Global Payments will continue to trade on the New York Stock Exchange. See "Note 2 —Acquisitions" and "Note 7—Long-Term Debt and Lines of Credit" for further information about the proposed Merger and related debt financing.
Use of estimates	Use of estimates — The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reported period. Actual results could differ materially from those estimates.
Recently Adopted Accounting Pronouncements and Recently Issued Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements — In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-02, "Leases." ASU 2016-02 requires recognition of assets and liabilities for the rights and obligations created by leases and new disclosures about leases. We adopted ASU 2016-02, as well as other related clarifications and interpretive guidance issued by the FASB, on January 1, 2019 using the optional modified retrospective transition method. Under this transition method, we did not recast the prior period financial statements presented. We elected the transition package of three practical expedients, which among other things, allowed for the carryforward of historical lease classifications. We made accounting policy elections to not recognize assets or liabilities for leases with a term of less than twelve months and to account for all components in a lease arrangement as a single combined lease component. The adoption of ASU 2016-02 resulted in the measurement and recognition of lease liabilities in the amount of $274.0 million and right-of-use assets in the amount of $236.0 million as of January 1, 2019. Lease liabilities were measured as the present value of remaining lease payments, and the corresponding right-of-use assets were measured at an amount equal to the lease liabilities adjusted by the amounts of certain assets and liabilities, such as deferred lease obligations and prepaid rent, that we previously recognized on the balance sheet prior to the initial application of ASU 2016-02. To calculate the present value of remaining lease payments, we elected to use an incremental borrowing rate based on the remaining lease term at transition. Recently Issued Pronouncements Not Yet Adopted — In August 2018, the FASB issued ASU 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract (A Consensus of the FASB Emerging Issues Task Force)." ASU 2018-15 provides additional guidance on the accounting for costs of implementation activities performed in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract. The new guidance amends the definition of a hosting arrangement and requires a customer in a hosting arrangement that is a service contract to capitalize certain implementation costs as if the arrangement was an internal-use software project. We have historically capitalized implementation costs for internal-use software projects and will continue to do so pursuant to the clarifications provided in the new guidance. We expect to amortize deferred implementation costs to expense on a straight-line basis over the term of the hosting arrangement. The amendments in this update also provide additional presentation and disclosure requirements, including requirements to disclose the nature of an entity’s hosting arrangements that are service contracts, as well as quantitative information about capitalized implementation costs and related amortization expense. The guidance will become effective for us on January 1, 2020. Entities have the option to apply the guidance prospectively to all implementation costs incurred after the date of adoption or retrospectively. We are comparing the guidance in ASU 2018-15 to our current accounting practices for costs of implementation activities performed in cloud computing arrangements. We have not yet quantified the effect, if any, of ASU 2018-15 on our consolidated balance sheet or our statements of income and cash flows. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ." The amendments in this update change how companies measure and recognize credit impairment for many financial instruments measured at amortized cost. The new model for current expected credit losses ("CECL") will require us to immediately recognize an estimate of credit losses expected to occur over the remaining life of the financial instruments that are within the scope of the update, including accounts receivable and settlement processing assets, each of which is short-term in nature. Under current GAAP, credit losses on these financial instruments are not recognized until their occurrence is deemed to be probable. The guidance will become effective for us on January 1, 2020. In general, the new guidance will require modified retrospective application to all outstanding financial assets that are in the scope of the update, with a cumulative-effect adjustment, if any, recorded to retained earnings as of the date of adoption. We are evaluating the effect of ASU 2016-13 on our consolidated financial statements, including comparing how we currently measure and recognize our allowance for doubtful accounts on accounts receivable and our reserve for operating losses and sales allowances to how we would make such measurements applying the new CECL model. We have not yet quantified the effect, if any, of ASU 2016-13 on our consolidated financial statements.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2019
SICOM
Business Acquisition [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	The provisional estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed as of June 30, 2019 , including a reconciliation to the total purchase consideration, were as follows (in thousands): Cash and cash equivalents $ 7,540 Property and equipment 5,838 Identified intangible assets 188,294 Other assets 22,275 Deferred income taxes (48,560 ) Other liabilities (31,350 ) Total identifiable net assets 144,037 Goodwill 266,164 Total purchase consideration $ 410,201
Schedule of Fair Values of Intangible Assets Acquired and Respective Weighted-Average Amortization Periods	The following table reflects the estimated fair values of the identified intangible assets of SICOM and the respective aggregated weighted-average estimated amortization periods: Estimated Fair Values Weighted-Average Estimated Amortization Periods (in thousands) (years) Customer-related intangible assets $ 104,900 14 Acquired technologies 65,312 6 Trademarks and trade names 11,202 3 Contract-based intangible assets 6,880 5 Total estimated identified intangible assets $ 188,294 10
AdvancedMD
Business Acquisition [Line Items]
Schedule of Assets Acquired and Liabilities Assumed	The provisional estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed as of June 30, 2019 , including a reconciliation to the total purchase consideration, were as follows (in thousands): Cash and cash equivalents $ 7,657 Property and equipment 5,672 Identified intangible assets 419,500 Other assets 11,785 Deferred income taxes (93,372 ) Other liabilities (15,647 ) Total identifiable net assets 335,595 Goodwill 371,290 Total purchase consideration $ 706,885
Schedule of Fair Values of Intangible Assets Acquired and Respective Weighted-Average Amortization Periods	The following table reflects the estimated fair values of the identified intangible assets of AdvancedMD and the respective aggregated weighted-average estimated amortization periods: Estimated Fair Values Weighted-Average Estimated Amortization Periods (in thousands) (years) Customer-related intangible assets $ 303,100 11 Acquired technologies 83,700 5 Trademarks and trade names 32,700 15 Total estimated identified intangible assets $ 419,500 10

REVENUES (Tables)

REVENUES (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables present a disaggregation of our revenue from contracts with customers by distribution channel for the three and six months ended June 30, 2019 and 2018: Three Months Ended June 30, 2019 North America Europe Asia-Pacific Total (in thousands) Direct: Relationship-led $ 301,094 $ 110,655 $ 30,742 $ 442,491 Technology-enabled 349,839 49,694 28,142 427,675 650,933 160,349 58,884 870,166 Wholesale 64,986 — — 64,986 $ 715,919 $ 160,349 $ 58,884 $ 935,152 Three Months Ended June 30, 2018 North America Europe Asia-Pacific Total (in thousands) Direct: Relationship-led $ 244,861 $ 102,960 $ 32,371 $ 380,192 Technology-enabled 296,419 52,671 23,361 372,451 541,280 155,631 55,732 752,643 Wholesale 80,521 — — 80,521 $ 621,801 $ 155,631 $ 55,732 $ 833,164 Six Months Ended June 30, 2019 North America Europe Asia-Pacific Total (in thousands) Direct: Relationship-led $ 571,637 $ 205,220 $ 64,161 $ 841,018 Technology-enabled 691,947 97,998 56,470 846,415 1,263,584 303,218 120,631 1,687,433 Wholesale 130,757 — — 130,757 $ 1,394,341 $ 303,218 $ 120,631 $ 1,818,190 Six Months Ended June 30, 2018 North America Europe Asia-Pacific Total (in thousands) Direct: Relationship-led $ 471,281 $ 195,174 $ 67,613 $ 734,068 Technology-enabled 579,776 103,734 45,790 729,300 1,051,057 298,908 113,403 1,463,368 Wholesale 164,773 — — 164,773 $ 1,215,830 $ 298,908 $ 113,403 $ 1,628,141
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information related to contracts from customers as of June 30, 2019 and December 31, 2018 was as follows: Balance Sheet Location June 30, 2019 December 31, 2018 (in thousands) Assets: Capitalized costs to obtain customer contracts, net Other noncurrent assets $ 210,609 $ 194,616 Capitalized costs to fulfill customer contracts, net Other noncurrent assets $ 19,319 $ 12,954 Liabilities: Contract liabilities, net (current) Accounts payable and accrued liabilities $ 156,930 $ 146,947 Contract liabilities, net (noncurrent) Other noncurrent liabilities $ 9,532 $ 8,595

SETTLEMENT PROCESSING ASSETS _2

SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS (Tables)	6 Months Ended
	Jun. 30, 2019
Offsetting [Abstract]
Schedule of Offsetting Assets	As of June 30, 2019 and December 31, 2018 , settlement processing assets and obligations consisted of the following: June 30, 2019 December 31, 2018 (in thousands) Settlement processing assets: Interchange reimbursement $ 260,103 $ 154,978 Receivable from members 176,687 228,107 Receivable from networks 2,412,382 1,221,060 Exception items 11,042 7,636 Merchant reserves (15,947 ) (11,559 ) $ 2,844,267 $ 1,600,222 Settlement processing obligations: Interchange reimbursement $ 89,895 $ 193,235 Liability to members (23,815 ) (182,450 ) Liability to merchants (2,400,467 ) (1,144,249 ) Exception items 11,505 7,146 Merchant reserves (151,450 ) (145,826 ) Reserve for operating losses and sales allowances (4,041 ) (4,212 ) $ (2,478,373 ) $ (1,276,356 )
Schedule of Offsetting Liabilities	As of June 30, 2019 and December 31, 2018 , settlement processing assets and obligations consisted of the following: June 30, 2019 December 31, 2018 (in thousands) Settlement processing assets: Interchange reimbursement $ 260,103 $ 154,978 Receivable from members 176,687 228,107 Receivable from networks 2,412,382 1,221,060 Exception items 11,042 7,636 Merchant reserves (15,947 ) (11,559 ) $ 2,844,267 $ 1,600,222 Settlement processing obligations: Interchange reimbursement $ 89,895 $ 193,235 Liability to members (23,815 ) (182,450 ) Liability to merchants (2,400,467 ) (1,144,249 ) Exception items 11,505 7,146 Merchant reserves (151,450 ) (145,826 ) Reserve for operating losses and sales allowances (4,041 ) (4,212 ) $ (2,478,373 ) $ (1,276,356 )

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Intangible Assets	As of June 30, 2019 and December 31, 2018 , goodwill and other intangible assets consisted of the following: June 30, 2019 December 31, 2018 (in thousands) Goodwill $ 6,345,563 $ 6,341,355 Other intangible assets: Customer-related intangible assets $ 2,496,055 $ 2,486,217 Acquired technologies 920,398 896,701 Trademarks and trade names 288,003 289,588 Contract-based intangible assets 175,397 178,391 3,879,853 3,850,897 Less accumulated amortization: Customer-related intangible assets 970,427 860,715 Acquired technologies 429,592 351,170 Trademarks and trade names 97,964 83,234 Contract-based intangible assets 73,537 67,160 1,571,520 1,362,279 $ 2,308,333 $ 2,488,618
Schedule of Carrying Amount of Goodwill	The following table sets forth the changes in the carrying amount of goodwill for the six months ended June 30, 2019 : North America Europe Asia-Pacific Total (in thousands) Balance at December 31, 2018 $ 5,530,087 $ 484,761 $ 326,507 $ 6,341,355 Effect of foreign currency translation 4,878 (724 ) (570 ) 3,584 Measurement-period adjustments (4,092 ) — 4,716 624 Balance at June 30, 2019 $ 5,530,873 $ 484,037 $ 330,653 $ 6,345,563

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Schedule of Lease Assets and Lease Liabilities	As of June 30, 2019 and January 1, 2019, right-of-use assets and lease liabilities consisted of the following (in thousands): Balance Sheet Location June 30, 2019 January 1, 2019 Assets: Operating lease right-of-use assets (1) Other noncurrent assets $ 219,006 $ 235,979 Liabilities: Operating lease liabilities (current) Accounts payable and accrued liabilities $ 34,589 $ 37,339 Operating lease liabilities (noncurrent) Other noncurrent liabilities 224,751 236,697 Total operating lease liabilities $ 259,340 $ 274,036 (1) Approximately 90% of our operating lease right-of-use assets are located in the United States.
Schedule of Maturities of Lease Liabilities	As of June 30, 2019 , maturities of lease liabilities were as follows (in thousands): Year ending December 31, 2019 $ 24,694 2020 42,249 2021 35,221 2022 32,536 2023 28,964 2024 27,187 2025 and thereafter 147,981 Total lease payments (1) 338,832 Imputed interest (79,492 ) Total operating lease liabilities $ 259,340 (1) Total lease payments do not include approximately $86.0 million for operating leases that had not yet commenced at June 30, 2019 . We expect the lease commencement dates for these leases to occur later in 2019 and in 2020.
Schedule of Future Minimum Payments for Noncancelable Operating Leases	Future minimum payments at December 31, 2018 for noncancelable operating leases were as follows (in thousands): Year ending December 31: 2019 $ 50,095 2020 47,700 2021 40,035 2022 37,055 2023 33,298 2024 and thereafter 225,225 Total future minimum payments (1) $ 433,408 (1) Future minimum lease payments include approximately $70 million for operating leases that had not commenced at December 31, 2018.

LONG-TERM DEBT AND LINES OF C_2

LONG-TERM DEBT AND LINES OF CREDIT (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	As of June 30, 2019 and December 31, 2018 , long-term debt consisted of the following: June 30, 2019 December 31, 2018 (in thousands) Credit Facility: Term loans (face amounts of $4,419,554 and $4,463,643 at June 30, 2019 and December 31, 2018, respectively, less unamortized debt issuance costs of $32,906 and $37,400 at June 30, 2019 and December 31, 2018, respectively) $ 4,386,647 $ 4,426,243 Revolving Credit Facility 765,000 704,000 Total long-term debt 5,151,647 5,130,243 Less current portion of Credit Facility 151,062 115,075 Long-term debt, excluding current portion $ 5,000,585 $ 5,015,168
Schedule of Maturities of Long-Term Debt	The maturity requirements on long-term debt as of June 30, 2019 are as follows by year (in thousands): Year ending December 31, 2019 $ 80,087 2020 159,979 2021 195,848 2022 267,587 2023 4,006,053 2024 and thereafter 475,000 Total $ 5,184,554
Schedule of Derivative Instruments	The table below presents the fair values of our derivative financial instruments designated as cash flow hedges included in the consolidated balance sheets: Fair Values Derivative Financial Instruments Balance Sheet Location Weighted-Average Fixed Rate of Interest at June 30, 2019 Range of Maturity Dates at June 30, 2019 June 30, 2019 December 31, 2018 (in thousands) Interest rate swaps (Notional of $250 million at June 30, 2019 and $750 million at December 31, 2018) Prepaid expenses and other current assets 1.58% December 31, 2019 $ 582 $ 3,200 Interest rate swaps (Notional of $250 million at June 30, 2019 and $550 million at December 31, 2018) Other noncurrent assets 1.34% July 31, 2020 - March 31, 2021 $ 1,317 $ 8,256 Interest rate swaps (Notional of $1.0 billion at June 30, 2019) Accounts payable and accrued liabilities 2.09% December 31, 2019 $ 14,617 $ — Interest rate swaps (Notional of $1.6 billion at June 30, 2019 and $950 million at December 31, 2018) Other noncurrent liabilities 2.57% March 31, 2021 - December 31, 2022 $ 49,886 $ 14,601
Schedule of Derivative Instrument Effect on Other Comprehensive Income (Loss)	The table below presents the effects of our interest rate swaps on the consolidated statements of income and comprehensive income for the three and six months ended June 30, 2019 and 2018 : Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (in thousands) Amount of net unrealized gains (losses) recognized in other comprehensive income $ (42,222 ) $ 2,932 $ (56,731 ) $ 10,508 Amount of net unrealized gains reclassified out of other comprehensive income to interest expense $ (893 ) $ (1,104 ) $ (2,723 ) $ (1,167 )

SHARE-BASED AWARDS AND OPTIONS

SHARE-BASED AWARDS AND OPTIONS (Tables)	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Allocation of Share-Based Compensation Costs by Plan	The following table summarizes share-based compensation expense and the related income tax benefit recognized for our share-based awards and stock options: Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (in thousands) Share-based compensation expense $ 16,496 $ 15,205 $ 27,914 $ 30,104 Income tax benefit $ 3,728 $ 3,377 $ 6,237 $ 6,662
Schedule of Changes in Non-Vested Restricted Stock Awards Activity	The following table summarizes the changes in unvested restricted stock and performance awards for the six months ended June 30, 2019 : Shares Weighted-Average Grant-Date Fair Value (in thousands) Unvested at December 31, 2018 1,084 $108.51 Granted 475 133.58 Vested (260 ) 94.78 Forfeited (62 ) 107.74 Unvested at June 30, 2019 1,237 $121.06
Schedule of Stock Option Activity	The following table summarizes changes in stock option activity for the six months ended June 30, 2019 : Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (years) (in millions) Outstanding at December 31, 2018 598 $59.16 6.2 $27.3 Granted 109 128.22 Exercised (193 ) 34.01 Outstanding at June 30, 2019 514 $83.31 7.1 $39.5 Options vested and exercisable at June 30, 2019 296 $61.73 5.8 $29.1
Schedule of Stock Option Valuation Assumptions	Fair value was estimated on the date of grant using the Black-Scholes valuation model with the following weighted-average assumptions: Six Months Ended June 30, 2019 June 30, 2018 Risk-free interest rate 2.49% 2.60% Expected volatility 30% 29% Dividend yield 0.04% 0.04% Expected term (years) 5 5

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of Weighted-Average Shares Outstanding	The following table sets forth the computation of diluted weighted-average number of shares outstanding for the three and six months ended June 30, 2019 and 2018 : Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (in thousands) Basic weighted-average number of shares outstanding 156,768 159,003 157,141 159,161 Plus: Dilutive effect of stock options and other share-based awards 494 674 497 679 Diluted weighted-average number of shares outstanding 157,262 159,677 157,638 159,840

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The changes in the accumulated balances for each component of other comprehensive income (loss) were as follows for the three and six months ended June 30, 2019 and 2018 : Foreign Currency Translation Unrealized Gains (Losses) on Hedging Activities Other Accumulated Other Comprehensive Loss (in thousands) Balance at March 31, 2019 $ (294,467 ) $ (14,725 ) $ (3,416 ) $ (312,608 ) Other comprehensive income (loss) 5,273 (32,588 ) 17 (27,298 ) Balance at June 30, 2019 $ (289,194 ) $ (47,313 ) $ (3,399 ) $ (339,906 ) Balance at March 31, 2018 $ (185,269 ) $ 12,647 $ (4,339 ) $ (176,961 ) Other comprehensive income (loss) (68,103 ) 1,383 52 (66,668 ) Balance at June 30, 2018 $ (253,372 ) $ 14,030 $ (4,287 ) $ (243,629 ) Foreign Currency Translation Unrealized Gains (Losses) on Hedging Activities Other Accumulated Other Comprehensive Loss (in thousands) Balance at December 31, 2018 $ (304,274 ) $ (2,374 ) $ (3,527 ) $ (310,175 ) Other comprehensive income (loss) 15,080 (44,939 ) 128 (29,731 ) Balance at June 30, 2019 $ (289,194 ) $ (47,313 ) $ (3,399 ) $ (339,906 ) Balance at December 31, 2017 $ (185,856 ) $ 6,999 $ (4,287 ) $ (183,144 ) Cumulative effect of adoption of new accounting standard (1,843 ) — — (1,843 ) Other comprehensive income (loss) (65,673 ) 7,031 — (58,642 ) Balance at June 30, 2018 $ (253,372 ) $ 14,030 $ (4,287 ) $ (243,629 )

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Information on segments and reconciliations to consolidated revenues and consolidated operating income was as follows for the three and six months ended June 30, 2019 and 2018 : Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (in thousands) Revenues (1) : North America $ 715,919 $ 621,801 $ 1,394,341 $ 1,215,830 Europe 160,349 155,631 303,218 298,908 Asia-Pacific 58,884 55,732 120,631 113,403 Consolidated revenues $ 935,152 $ 833,164 $ 1,818,190 $ 1,628,141 Operating income (loss) (1) : North America $ 185,286 $ 147,184 $ 341,433 $ 272,588 Europe 86,345 82,682 158,306 153,230 Asia-Pacific 23,257 19,577 50,530 43,351 Corporate (2) (73,162 ) (58,706 ) (129,051 ) (122,262 ) Consolidated operating income $ 221,726 $ 190,737 $ 421,218 $ 346,907 Depreciation and amortization (1) : North America $ 124,573 $ 105,433 $ 252,810 $ 207,958 Europe 13,101 11,775 26,095 24,520 Asia-Pacific 5,141 4,726 10,181 9,359 Corporate 2,308 1,714 4,667 3,555 Consolidated depreciation and amortization $ 145,123 $ 123,648 $ 293,753 $ 245,392 (1) Revenues, operating income and depreciation and amortization reflect the effects of acquired businesses from the respective acquisition dates. For further discussion of our acquisitions, see "Note 2 — Acquisitions." (2) During the three months ended June 30, 2019 and 2018, operating loss for Corporate included acquisition and integration expenses of $14.1 million and $8.1 million

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)segmentCountry	Jan. 01, 2019USD ($)
Accounting Policies [Abstract]
Number of countries in which entity operates | Country	32
Number of reportable segments | segment	3
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total operating lease liabilities	$ 259,340	$ 274,036
Operating lease right-of-use assets	$ 219,006	235,979
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total operating lease liabilities		274,000
Operating lease right-of-use assets		$ 236,000

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - USD ($) $ in Millions	Oct. 17, 2018	Sep. 04, 2018	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Common stock authorized (shares)				200,000,000	200,000,000
Merger-related transaction costs				$ 12.2
Forecast
Business Acquisition [Line Items]
Common stock authorized (shares)			400,000,000
TSYS | Forecast
Business Acquisition [Line Items]
Entity stock issued per acquiree share (shares)			0.8101
Total purchase consideration			$ 23,700
SICOM
Business Acquisition [Line Items]
Total purchase consideration	$ 410.2
Measurement period adjustment of total purchase consideration				1
Goodwill acquired	266.2
Expected tax deductible amount of goodwill acquired	$ 40
AdvancedMD
Business Acquisition [Line Items]
Total purchase consideration		$ 706.9
Goodwill acquired		$ 371.3
Measurement period adjustment of deferred income tax liabilities				$ (5.6)

ACQUISITIONS - Acquisition Date

ACQUISITIONS - Acquisition Date Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Oct. 17, 2018	Sep. 04, 2018
Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Goodwill	$ 6,345,563	$ 6,341,355
SICOM
Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Cash and cash equivalents	7,540
Property and equipment	5,838
Identified intangible assets	188,294		$ 188,294
Other assets	22,275
Deferred income taxes	(48,560)
Other liabilities	(31,350)
Total identifiable net assets	144,037
Goodwill	266,164
Total purchase consideration	410,201
AdvancedMD
Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Cash and cash equivalents	7,657
Property and equipment	5,672
Identified intangible assets	419,500			$ 419,500
Other assets	11,785
Deferred income taxes	(93,372)
Other liabilities	(15,647)
Total identifiable net assets	335,595
Goodwill	371,290
Total purchase consideration	$ 706,885

ACQUISITIONS - Schedule of Fair

ACQUISITIONS - Schedule of Fair Value of Intangible Assets (Details) - USD ($) $ in Thousands	Oct. 17, 2018	Sep. 04, 2018	Jun. 30, 2019
SICOM
Business Acquisition [Line Items]
Estimated Fair Values	$ 188,294		$ 188,294
Weighted-Average Estimated Amortization Periods	10 years
SICOM | Customer-related intangible assets
Business Acquisition [Line Items]
Estimated Fair Values	$ 104,900
Weighted-Average Estimated Amortization Periods	14 years
SICOM | Acquired technology
Business Acquisition [Line Items]
Estimated Fair Values	$ 65,312
Weighted-Average Estimated Amortization Periods	6 years
SICOM | Trademarks and trade names
Business Acquisition [Line Items]
Estimated Fair Values	$ 11,202
Weighted-Average Estimated Amortization Periods	3 years
SICOM | Covenants-not-to-compete
Business Acquisition [Line Items]
Estimated Fair Values	$ 6,880
Weighted-Average Estimated Amortization Periods	5 years
AdvancedMD
Business Acquisition [Line Items]
Estimated Fair Values		$ 419,500	$ 419,500
Weighted-Average Estimated Amortization Periods		10 years
AdvancedMD | Customer-related intangible assets
Business Acquisition [Line Items]
Estimated Fair Values		$ 303,100
Weighted-Average Estimated Amortization Periods		11 years
AdvancedMD | Acquired technology
Business Acquisition [Line Items]
Estimated Fair Values		$ 83,700
Weighted-Average Estimated Amortization Periods		5 years
AdvancedMD | Trademarks and trade names
Business Acquisition [Line Items]
Estimated Fair Values		$ 32,700
Weighted-Average Estimated Amortization Periods		15 years

REVENUES - Disaggregation of Re

REVENUES - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 935,152	$ 833,164	$ 1,818,190	$ 1,628,141
Direct distribution
Disaggregation of Revenue [Line Items]
Revenues	870,166	752,643	1,687,433	1,463,368
Wholesale
Disaggregation of Revenue [Line Items]
Revenues	64,986	80,521	130,757	164,773
Relationship-led | Direct distribution
Disaggregation of Revenue [Line Items]
Revenues	442,491	380,192	841,018	734,068
Technology-enabled | Direct distribution
Disaggregation of Revenue [Line Items]
Revenues	427,675	372,451	846,415	729,300
North America
Disaggregation of Revenue [Line Items]
Revenues	715,919	621,801	1,394,341	1,215,830
North America | Direct distribution
Disaggregation of Revenue [Line Items]
Revenues	650,933	541,280	1,263,584	1,051,057
North America | Wholesale
Disaggregation of Revenue [Line Items]
Revenues	64,986	80,521	130,757	164,773
North America | Relationship-led | Direct distribution
Disaggregation of Revenue [Line Items]
Revenues	301,094	244,861	571,637	471,281
North America | Technology-enabled | Direct distribution
Disaggregation of Revenue [Line Items]
Revenues	349,839	296,419	691,947	579,776
Europe
Disaggregation of Revenue [Line Items]
Revenues	160,349	155,631	303,218	298,908
Europe | Direct distribution
Disaggregation of Revenue [Line Items]
Revenues	160,349	155,631	303,218	298,908
Europe | Wholesale
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Europe | Relationship-led | Direct distribution
Disaggregation of Revenue [Line Items]
Revenues	110,655	102,960	205,220	195,174
Europe | Technology-enabled | Direct distribution
Disaggregation of Revenue [Line Items]
Revenues	49,694	52,671	97,998	103,734
Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenues	58,884	55,732	120,631	113,403
Asia-Pacific | Direct distribution
Disaggregation of Revenue [Line Items]
Revenues	58,884	55,732	120,631	113,403
Asia-Pacific | Wholesale
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Asia-Pacific | Relationship-led | Direct distribution
Disaggregation of Revenue [Line Items]
Revenues	30,742	32,371	64,161	67,613
Asia-Pacific | Technology-enabled | Direct distribution
Disaggregation of Revenue [Line Items]
Revenues	$ 28,142	$ 23,361	$ 56,470	$ 45,790

REVENUES - Supplemental Balance

REVENUES - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Liabilities:
Contract liabilities, net (current)	$ 156,930	$ 146,947
Contract liabilities, net (noncurrent)	9,532	8,595
Obtain Contract
Assets:
Capitalized costs, net	210,609	194,616
Fulfill Contract
Assets:
Capitalized costs, net	$ 19,319	$ 12,954

REVENUES - Narrative (Details)

REVENUES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue recognized from contract liabilities balances at beginning of the period	$ 52	$ 37	$ 97.1	$ 69.9

SETTLEMENT PROCESSING ASSETS _3

SETTLEMENT PROCESSING ASSETS AND OBLIGATIONS - Summary (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Settlement processing assets
Total settlement processing assets	$ 2,844,267	$ 1,600,222
Settlement processing obligations
Total settlement processing obligations	(2,478,373)	(1,276,356)
Merchant reserves
Settlement processing assets
Merchant reserves	(15,947)	(11,559)
Settlement processing obligations
Settlement liabilities, reserves	(151,450)	(145,826)
Reserve for operating losses and sales allowances
Settlement processing obligations
Settlement liabilities, reserves	(4,041)	(4,212)
Interchange reimbursement
Settlement processing assets
Settlement processing assets:	260,103	154,978
Settlement processing obligations
Settlement processing obligations:	89,895	193,235
Receivable from members
Settlement processing assets
Settlement processing assets:	176,687	228,107
Receivable from networks
Settlement processing assets
Settlement processing assets:	2,412,382	1,221,060
Liability to members
Settlement processing obligations
Settlement processing obligations:	(23,815)	(182,450)
Liability to merchants
Settlement processing obligations
Settlement processing obligations:	(2,400,467)	(1,144,249)
Exception items
Settlement processing assets
Settlement processing assets:	11,042	7,636
Settlement processing obligations
Settlement processing obligations:	$ 11,505	$ 7,146

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Goodwill and Intangible Assets (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 6,345,563,000	$ 6,341,355,000
Other intangible assets:
Other intangible assets	3,879,853,000	3,850,897,000
Less accumulated amortization:
Less accumulated amortization	1,571,520,000	1,362,279,000
Other intangible assets, net	2,308,333,000	2,488,618,000
Accumulated impairment of goodwill	0	0
Customer-related intangible assets
Other intangible assets:
Other intangible assets	2,496,055,000	2,486,217,000
Less accumulated amortization:
Less accumulated amortization	970,427,000	860,715,000
Acquired technologies
Other intangible assets:
Other intangible assets	920,398,000	896,701,000
Less accumulated amortization:
Less accumulated amortization	429,592,000	351,170,000
Trademarks and trade names
Other intangible assets:
Other intangible assets	288,003,000	289,588,000
Less accumulated amortization:
Less accumulated amortization	97,964,000	83,234,000
Contract-based intangible assets
Other intangible assets:
Other intangible assets	175,397,000	178,391,000
Less accumulated amortization:
Less accumulated amortization	$ 73,537,000	$ 67,160,000

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Goodwill Roll-Forward (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 6,341,355
Effect of foreign currency translation	3,584
Measurement-period adjustments	624
Balance at end of period	6,345,563
North America
Goodwill [Roll Forward]
Balance at beginning of period	5,530,087
Effect of foreign currency translation	4,878
Measurement-period adjustments	(4,092)
Balance at end of period	5,530,873
Europe
Goodwill [Roll Forward]
Balance at beginning of period	484,761
Effect of foreign currency translation	(724)
Measurement-period adjustments	0
Balance at end of period	484,037
Asia-Pacific
Goodwill [Roll Forward]
Balance at beginning of period	326,507
Effect of foreign currency translation	(570)
Measurement-period adjustments	4,716
Balance at end of period	$ 330,653

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)
Lessee, Lease, Description [Line Items]
Weighted-average remaining lease term of operating leases	10 years 1 month 6 days	10 years 1 month 6 days
Weighted-average discount rate of operating leases (as a percent)	5.00%	5.00%
Operating lease costs	$ 14.1	$ 29.8
Variable lease costs	2.6	5
Cash paid for amounts included in the measurement of operating lease liabilities		26.1
Operating lease liabilities arising from obtaining new or modified right-of-use assets		4
Selling, General and Administrative Expenses
Lessee, Lease, Description [Line Items]
Operating lease costs	12.9	27.4
Cost of Services
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 1.2	$ 2.4

LEASES - Lease Assets and Liabi

LEASES - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jan. 01, 2019
Assets:
Operating lease right-of-use assets	$ 219,006	$ 235,979
Liabilities:
Operating lease liabilities (current)	34,589	37,339
Operating lease liabilities (noncurrent)	224,751	236,697
Total operating lease liabilities	$ 259,340	$ 274,036
Proportion of operating lease right-of-use assets located in the United States (as a percent)	90.00%

LEASES - Maturities of Lease Li

LEASES - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases [Abstract]
2019	$ 24,694
2020	42,249
2021	35,221
2022	32,536
2023	28,964
2024	27,187
2025 and thereafter	147,981
Total lease payments	338,832
Imputed interest	(79,492)
Total operating lease liabilities	259,340	$ 274,036
Leases not yet commenced	$ 86,000		$ 70,000

LEASES - Future Minimum Payment

LEASES - Future Minimum Payments for Noncancelable Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Leases [Abstract]
2019		$ 50,095
2020		47,700
2021		40,035
2022		37,055
2023		33,298
2024 and thereafter		225,225
Total future minimum payments		433,408
Leases not yet commenced	$ 86,000	$ 70,000

LONG-TERM DEBT AND LINES OF C_3

LONG-TERM DEBT AND LINES OF CREDIT - Summary (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term Debt	$ 5,151,647,000	$ 5,130,243,000
Less current portion of Credit Facility	151,062,000	115,075,000
Long-term debt, excluding current portion	5,000,585,000	5,015,168,000
Term loans (face amounts of $4,419,554 and $4,463,643 at June 30, 2019 and December 31, 2018, respectively, less unamortized debt issuance costs of $32,906 and $37,400 at June 30, 2019 and December 31, 2018, respectively)
Debt Instrument [Line Items]
Long-term Debt	4,386,647,000	4,426,243,000
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term Debt	765,000,000	704,000,000
Five Year Unsecured Term Loan Due February 2019 | Term loans (face amounts of $4,419,554 and $4,463,643 at June 30, 2019 and December 31, 2018, respectively, less unamortized debt issuance costs of $32,906 and $37,400 at June 30, 2019 and December 31, 2018, respectively)
Debt Instrument [Line Items]
Face amount of debt instrument	4,419,554,000	4,463,643,000
Unamortized debt issuance costs	$ 32,906,000	$ 37,400,000

LONG-TERM DEBT AND LINES OF C_4

LONG-TERM DEBT AND LINES OF CREDIT - Maturities of Long-Term Debt (Details) $ in Thousands	Jun. 30, 2019USD ($)
Debt Disclosure [Abstract]
2019	$ 80,087
2020	159,979
2021	195,848
2022	267,587
2023	4,006,053
2024 and thereafter	475,000
Total	$ 5,184,554

LONG-TERM DEBT AND LINES OF C_5

LONG-TERM DEBT AND LINES OF CREDIT - Narrative (Details)

Jul. 25, 2019$ / shares

May 27, 2019USD ($)

Jun. 30, 2019USD ($)Rate

Jun. 30, 2018USD ($)

Jun. 30, 2019USD ($)$ / sharesRate

Jun. 30, 2018USD ($)

Dec. 31, 2018USD ($)

Jun. 30, 2021

Jun. 30, 2022

Dec. 31, 2022

Mar. 31, 2023

Sep. 30, 2025

Jul. 01, 2020

Jun. 30, 2020

Dec. 31, 2019USD ($)

Jul. 09, 2019USD ($)

Debt Instrument [Line Items]

Dividends per quarter (USD per share) | $ / shares

$ 0.01

Interest expense

$ 65,500,000

$ 48,100,000

$ 123,900,000

$ 93,500,000

Unsecured Debt | Bridge Facility

Debt Instrument [Line Items]

Face amount of debt instrument

$ 2,750,000,000

Expiration period of credit facility

364 days

Debt Instrument, Fee Amount

$ 11,700,000

Amortization of debt issuance fees

2,900,000

2,900,000

Unamortized portion of debt issuance fees

8,800,000

8,800,000

Term Loan | Term Loan A

Debt Instrument [Line Items]

Face amount of debt instrument

$ 1,500,000,000

$ 1,500,000,000

Credit facility interest rate (as a percent) | Rate

3.90%

3.90%

Term Loan | Term Loan A-2

Debt Instrument [Line Items]

Face amount of debt instrument

$ 1,370,000,000

$ 1,370,000,000

Credit facility interest rate (as a percent) | Rate

3.90%

3.90%

Term Loan | Term Loan B-2

Debt Instrument [Line Items]

Face amount of debt instrument

$ 1,140,000,000

$ 1,140,000,000

Credit facility interest rate (as a percent) | Rate

4.15%

4.15%

Term Loan | Term Loan B-4

Debt Instrument [Line Items]

Face amount of debt instrument

$ 500,000,000

$ 500,000,000

Credit facility interest rate (as a percent) | Rate

4.15%

4.15%

Term Loan | Revolving Credit Facility

Debt Instrument [Line Items]

Face amount of debt instrument

$ 1,500,000,000

$ 1,500,000,000

Line of credit

Debt Instrument [Line Items]

Remaining borrowing capacity

628,100,000

628,100,000

Maximum borrowing capacity

873,000,000

873,000,000

Net repayments of settlement lines of credit

68,900,000

$ 70,600,000

Amount outstanding under lines of credit

$ 736,200,000

$ 736,200,000

$ 700,500,000

Weighted-average interest rate of short-term debt (as a percent)

3.01%

3.01%

2.97%

Average outstanding balance

$ 440,500,000

Interest rate swap

Debt Instrument [Line Items]

Accumulated other comprehensive income (loss) related to interest rate

$ 9,700,000

$ 9,700,000

Subsequent Event

Debt Instrument [Line Items]

Dividends per quarter (USD per share) | $ / shares

$ 0.01

Subsequent Event | Unsecured Debt | Bridge Facility

Debt Instrument [Line Items]

Face amount of debt instrument

$ 2,100,000,000

Forecast | Unsecured Debt and Senior Notes

Debt Instrument [Line Items]

Face amount of debt instrument

$ 7,500,000,000

Forecast | Senior Notes

Debt Instrument [Line Items]

Face amount of debt instrument

2,500,000,000

Forecast | Term Loan | Term Loan A

Debt Instrument [Line Items]

Rate of quarterly installment payments (as a percent)

1.25%

1.875%

2.50%

Forecast | Term Loan | Term Loan B-2

Debt Instrument [Line Items]

Rate of quarterly installment payments (as a percent)

0.25%

Forecast | Term Loan | Term Loan B-4

Debt Instrument [Line Items]

Rate of quarterly installment payments (as a percent)

0.25%

Term Loan Facility | Forecast | Unsecured Debt | Five Year Senior Unsecured Credit Facility

Debt Instrument [Line Items]

Face amount of debt instrument

2,000,000,000

Uncommitted incremental term loan capacity

1,000,000,000

Revolving Credit Facility | Fourth Amendment

Debt Instrument [Line Items]

Maximum leverage ratio

5

5

Minimum interest coverage ratio

3.25

3.25

Revolving Credit Facility | Term Loan

Debt Instrument [Line Items]

Effective interest rate (as a percent) | Rate

3.89%

3.89%

Revolving Credit Facility | Forecast | Fourth Amendment

Debt Instrument [Line Items]

Maximum leverage ratio

4.50

4.75

Revolving Credit Facility | Forecast | Unsecured Debt | Five Year Senior Unsecured Credit Facility

Debt Instrument [Line Items]

Face amount of debt instrument

$ 3,000,000,000

Letter of Credit | Line of credit

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 100,000,000

$ 100,000,000

Standby letters of credit | Line of credit

Debt Instrument [Line Items]

Remaining borrowing capacity

723,200,000

$ 723,200,000

Minimum | Revolving Credit Facility | Fourth Amendment

Debt Instrument [Line Items]

Commitment fee rate (as a percent)

0.20%

Maximum | Revolving Credit Facility | Fourth Amendment

Debt Instrument [Line Items]

Commitment fee rate (as a percent)

0.30%

Accounts payable and accrued liabilities | Forward-starting interest rate swap

Debt Instrument [Line Items]

Notional amount

1,000,000,000

$ 1,000,000,000

Accounts payable and accrued liabilities | Interest rate swap

Debt Instrument [Line Items]

Notional amount

$ 1,000,000,000

$ 1,000,000,000

$ 0

LONG-TERM DEBT AND LINES OF C_6

LONG-TERM DEBT AND LINES OF CREDIT - Derivative Instruments (Details) - Interest rate swap - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Prepaid expenses and other current assets
Debt Instrument [Line Items]
Weighted-average fixed rate of interest (as a percent)	1.58%
Interest rate swaps	$ 582,000	$ 3,200,000
Notional amount	$ 250,000,000	750,000,000
Other noncurrent assets
Debt Instrument [Line Items]
Weighted-average fixed rate of interest (as a percent)	1.34%
Interest rate swaps	$ 1,317,000	8,256,000
Notional amount	$ 250,000,000	550,000,000
Accounts payable and accrued liabilities
Debt Instrument [Line Items]
Weighted-average fixed rate of interest (as a percent)	2.09%
Interest rate swaps	$ 14,617,000	0
Notional amount	$ 1,000,000,000	0
Other noncurrent liabilities
Debt Instrument [Line Items]
Weighted-average fixed rate of interest (as a percent)	2.57%
Interest rate swaps	$ 49,886,000	14,601,000
Notional amount	$ 1,600,000,000	$ 950,000,000

LONG-TERM DEBT AND LINES OF C_7

LONG-TERM DEBT AND LINES OF CREDIT - Effect on Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivatives in cash flow hedging relationships:
Amount of net unrealized gains (losses) recognized in other comprehensive income	$ (42,222)	$ 2,932	$ (56,731)	$ 10,508
Amount of net unrealized gains reclassified out of other comprehensive income to interest expense	$ (893)	$ (1,104)	$ (2,723)	$ (1,167)

INCOME TAX - Narrative (Details

INCOME TAX - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	19.90%	19.10%	18.40%	19.60%

SHAREHOLDERS' EQUITY - Narrativ

SHAREHOLDERS' EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 25, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Number of shares repurchased and retired (shares)		513,116	1,603,248	1,808,398	1,612,174
Cost of shares repurchased, including commissions		$ 71,999	$ 179,917	$ 229,995	$ 180,897
Average cost per share (USD per share)		$ 140.32	$ 112.20	$ 127.18	$ 112.19
Dividends declared (USD per share)				$ 0.01
Common stock authorized (shares)		200,000,000		200,000,000			200,000,000
Forecast
Class of Stock [Line Items]
Common stock authorized (shares)						400,000,000
Subsequent Event
Class of Stock [Line Items]
Dividends declared (USD per share)	$ 0.01
Other than accelerated share repurchase program
Class of Stock [Line Items]
Remaining authorized repurchase amount (up to)		$ 566,000		$ 566,000

SHARE-BASED AWARDS AND OPTION_2

SHARE-BASED AWARDS AND OPTIONS - Share-Based Compensation Expense and Income Tax Benefit (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Payment Arrangement [Abstract]
Share-based compensation expense	$ 16,496	$ 15,205	$ 27,914	$ 30,104
Income tax benefit	$ 3,728	$ 3,377	$ 6,237	$ 6,662

SHARE-BASED AWARDS AND OPTION_3

SHARE-BASED AWARDS AND OPTIONS - Share-Based Awards (Details) - Share-Based Awards shares in Thousands	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Shares
Beginning balance (shares) | shares	1,084
Granted (shares) | shares	475
Vested (shares) | shares	(260)
Forfeited (shares) | shares	(62)
Ending balance (shares) | shares	1,237
Weighted-Average Grant-Date Fair Value
Beginning balance (USD per share) | $ / shares	$ 108.51
Granted (USD per share) | $ / shares	133.58
Vested (USD per share) | $ / shares	94.78
Forfeited (USD per share) | $ / shares	107.74
Ending balance (USD per share) | $ / shares	$ 121.06

SHARE-BASED AWARDS AND OPTION_4

SHARE-BASED AWARDS AND OPTIONS - Share-Based Awards Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 16,496	$ 15,205	$ 27,914	$ 30,104
Share-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of share-based awards vested			24,600	22,800
Share-based compensation expense	14,800	$ 13,600	24,900	$ 27,400
Compensation not yet recognized	$ 94,700		$ 94,700
Weighted-average period of unrecognized compensation cost			2 years 2 months 12 days

SHARE-BASED AWARDS AND OPTION_5

SHARE-BASED AWARDS AND OPTIONS - Stock Option Activity (Details) - Employee stock option - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Options
Outstanding at beginning of period (shares)	598
Granted (shares)	109
Exercised (shares)	(193)
Outstanding at end of period (shares)	514	598
Options vested and exercisable (shares)	296
Weighted-Average Exercise Price
Outstanding at beginning of period (USD per share)	$ 59.16
Granted (USD per share)	128.22
Exercised (USD per share)	34.01
Outstanding at end of period (USD per share)	83.31	$ 59.16
Options vested and exercisable (USD per share)	$ 61.73
Weighted-Average Remaining Contractual Term
Outstanding	7 years 1 month 6 days	6 years 2 months 12 days
Options vested and exercisable	5 years 9 months 18 days
Aggregate Intrinsic Value
Outstanding	$ 39.5	$ 27.3
Options vested and exercisable	$ 29.1

SHARE-BASED AWARDS AND OPTION_6

SHARE-BASED AWARDS AND OPTIONS - Stock Options Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 16,496	$ 15,205	$ 27,914	$ 30,104
Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	900		1,600	1,500
Aggregate intrinsic value of stock options exercised			18,900	$ 4,600
Total unrecognized compensation cost	$ 6,000		$ 6,000
Weighted-average period of unrecognized compensation cost			2 years 2 months 12 days
Weighted average grant date fair value for each option granted (USD per share)	$ 39.60	$ 35.09	$ 39.60	$ 35.09

SHARE-BASED AWARDS AND OPTION_7

SHARE-BASED AWARDS AND OPTIONS - Valuation Assumptions (Details) - Employee stock option	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (as a percent)	2.49%	2.60%
Expected volatility (as a percent)	30.00%	29.00%
Dividend yield (as a percent)	0.04%	0.04%
Expected term (years)	5 years	5 years

EARNINGS PER SHARE - Summary (D

EARNINGS PER SHARE - Summary (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Basic weighted-average number of shares outstanding (shares)	156,768	159,003	157,141	159,161
Plus: Dilutive effect of stock options and other share-based awards (shares)	494	674	497	679
Diluted weighted-average number of shares outstanding (shares)	157,262	159,677	157,638	159,840

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Equity [Abstract]
Foreign currency translation adjustment, other comprehensive income (loss)	$ 3.9	$ (11.2)	$ (0.6)	$ 0.1

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE LOSS - Summary (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			$ 3,991,407
Cumulative effect of adoption of new accounting standard					$ 49,127
Other comprehensive income (loss), net of tax	$ (27,298)	$ (66,668)	(29,731)	$ (58,642)
Balance at end of period	3,990,604		3,990,604
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(312,608)	(176,961)	(310,175)	(183,144)
Cumulative effect of adoption of new accounting standard					(1,843)
Balance at end of period	(339,906)	(243,629)	(339,906)	(243,629)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(294,467)	(185,269)	(304,274)	(185,856)
Cumulative effect of adoption of new accounting standard					(1,843)
Other comprehensive income (loss), net of tax	5,273	(68,103)	15,080	(65,673)
Balance at end of period	(289,194)	(253,372)	(289,194)	(253,372)
Unrealized Gains (Losses) on Hedging Activities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(14,725)	12,647	(2,374)	6,999
Cumulative effect of adoption of new accounting standard					0
Other comprehensive income (loss), net of tax	(32,588)	1,383	(44,939)	7,031
Balance at end of period	(47,313)	14,030	(47,313)	14,030
Other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(3,416)	(4,339)	(3,527)	(4,287)
Cumulative effect of adoption of new accounting standard					$ 0
Other comprehensive income (loss), net of tax	17	52	128	0
Balance at end of period	$ (3,399)	$ (4,287)	$ (3,399)	$ (4,287)

SEGMENT INFORMATION - Summary (

SEGMENT INFORMATION - Summary (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)segment	Jun. 30, 2018USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			3
Segment Reporting Information [Line Items]
Revenues	$ 935,152	$ 833,164	$ 1,818,190	$ 1,628,141
Operating income (loss)	221,726	190,737	421,218	346,907
Depreciation and amortization	145,123	123,648	293,753	245,392
Merger-related transaction costs	12,200		12,200
Corporate
Segment Reporting Information [Line Items]
Operating income (loss)	(73,162)	(58,706)	(129,051)	(122,262)
Depreciation and amortization	2,308	1,714	4,667	3,555
Acquisition-related costs	14,100	8,100	19,500	26,400
North America
Segment Reporting Information [Line Items]
Revenues	715,919	621,801	1,394,341	1,215,830
North America | Operating segments
Segment Reporting Information [Line Items]
Revenues	715,919	621,801	1,394,341	1,215,830
Operating income (loss)	185,286	147,184	341,433	272,588
Depreciation and amortization	124,573	105,433	252,810	207,958
Europe
Segment Reporting Information [Line Items]
Revenues	160,349	155,631	303,218	298,908
Europe | Operating segments
Segment Reporting Information [Line Items]
Revenues	160,349	155,631	303,218	298,908
Operating income (loss)	86,345	82,682	158,306	153,230
Depreciation and amortization	13,101	11,775	26,095	24,520
Asia-Pacific
Segment Reporting Information [Line Items]
Revenues	58,884	55,732	120,631	113,403
Asia-Pacific | Operating segments
Segment Reporting Information [Line Items]
Revenues	58,884	55,732	120,631	113,403
Operating income (loss)	23,257	19,577	50,530	43,351
Depreciation and amortization	$ 5,141	$ 4,726	$ 10,181	$ 9,359

Uncategorized Items - gpn201906

Label	Element	Value
Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 49,127,000
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 50,970,000