Global Payments (GPN) 10-Q 4 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
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		295,215,722
Entity Central Index Key	0001123360
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenues	$ 1,990,007	$ 1,903,598
Operating expenses:
Cost of service	925,246	933,871
Selling, general and administrative	789,502	725,748
Total operating expenses	1,714,748	1,659,619
Operating income	275,259	243,979
Other income (expense):
Interest and other income	4,234	2,506
Interest and other expense	(83,141)	(92,644)
Total nonoperating income (expense)	(78,907)	(90,138)
Income before income taxes and equity in income of equity method investments	196,352	153,841
Income tax expense	20,675	15,502
Income before equity in income of equity method investments	175,677	138,339
Equity in income of equity method investments, net of tax	22,733	12,269
Net income	198,410	150,608
Net income attributable to noncontrolling interests, net of tax	(1,729)	(7,033)
Net income attributable to Global Payments	$ 196,681	$ 143,575
Earnings per share attributable to Global Payments:
Basic earnings per share (USD per share)	$ 0.66	$ 0.48
Diluted earnings per share (USD per share)	$ 0.66	$ 0.48

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 198,410	$ 150,608
Other comprehensive income (loss):
Foreign currency translation adjustments	(33,567)	(204,111)
Income tax benefit related to foreign currency translation adjustments	750	1,007
Net unrealized gains (losses) on hedging activities	994	(47,896)
Reclassification of net unrealized losses on hedging activities to interest expense	10,838	4,671
Income tax (expense) benefit related to hedging activities	(2,864)	10,346
Other, net of tax	7,775	121
Other comprehensive loss	(16,074)	(235,862)
Comprehensive income (loss)	182,336	(85,254)
Comprehensive loss (income) attributable to noncontrolling interests	4,245	(380)
Comprehensive income (loss) attributable to Global Payments	$ 186,581	$ (85,634)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 2,082,414	$ 1,945,868
Accounts receivable, net	824,822	794,172
Settlement processing assets	1,397,002	1,230,853
Prepaid expenses and other current assets	574,592	621,467
Total current assets	4,878,830	4,592,360
Goodwill	23,853,850	23,871,451
Other intangible assets, net	11,698,884	12,015,883
Property and equipment, net	1,580,743	1,578,532
Deferred income taxes	8,120	7,627
Other noncurrent assets	2,237,301	2,135,692
Total assets	44,257,728	44,201,545
Current liabilities:
Settlement lines of credit	459,360	358,698
Current portion of long-term debt	64,530	827,357
Accounts payable and accrued liabilities	2,096,637	2,061,384
Settlement processing obligations	1,495,638	1,301,652
Total current liabilities	4,116,165	4,549,091
Long-term debt	9,627,052	8,466,407
Deferred income taxes	2,895,401	2,948,390
Other noncurrent liabilities	776,919	750,613
Total liabilities	17,415,537	16,714,501
Commitments and contingencies
Equity:
Preferred stock, no par value; 5,000,000 shares authorized and none issued	0	0
Common stock, no par value; 400,000,000 shares authorized at March 31, 2021 and December 31, 2020; 295,157,603 issued and outstanding at March 31, 2021 and 298,332,459 issued and outstanding at December 31, 2020	0	0
Paid-in capital	24,403,323	24,963,769
Retained earnings	2,500,812	2,570,874
Accumulated other comprehensive loss	(212,373)	(202,273)
Total Global Payments shareholders’ equity	26,691,762	27,332,370
Noncontrolling interests	150,429	154,674
Total equity	26,842,191	27,487,044
Total liabilities and equity	$ 44,257,728	$ 44,201,545

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
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)	400,000,000	400,000,000
Common stock issued (shares)	295,157,603	298,332,459
Common stock outstanding (shares)	295,157,603	298,332,459

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 198,410	$ 150,608
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	96,372	83,573
Amortization of acquired intangibles	329,201	314,245
Amortization of capitalized contract costs	21,050	18,738
Share-based compensation expense	37,165	27,822
Provision for operating losses and credit losses	23,405	37,629
Noncash lease expense	27,066	25,924
Deferred income taxes	(56,390)	(47,957)
Equity in income of equity investments, net of tax	(22,733)	(12,269)
Other, net	(5,847)	512
Changes in operating assets and liabilities, net of the effects of business combinations:
Accounts receivable	(37,141)	47,624
Settlement processing assets and obligations, net	21,714	12,966
Prepaid expenses and other assets	(33,128)	(53,540)
Accounts payable and other liabilities	262	(169,301)
Net cash provided by operating activities	599,406	436,574
Cash flows from investing activities:
Business combinations and other acquisitions, net of cash acquired	(11,074)	(67,196)
Capital expenditures	(86,159)	(104,802)
Other, net	293	2,348
Net cash used in investing activities	(96,940)	(169,650)
Cash flows from financing activities:
Net borrowings from (repayments of) settlement lines of credit	108,488	(78,092)
Proceeds from long-term debt	1,987,005	607,000
Repayments of long-term debt	(1,575,435)	(110,978)
Payments of debt issuance costs	(6,819)	0
Repurchases of common stock	(802,955)	(421,162)
Proceeds from stock issued under share-based compensation plans	17,705	28,283
Common stock repurchased - share-based compensation plans	(39,437)	(44,253)
Dividends paid	(57,574)	(58,279)
Net cash used in financing activities	(369,022)	(77,481)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(21,141)	(67,655)
Increase in cash, cash equivalents and restricted cash	112,303	121,788
Cash, cash equivalents and restricted cash, beginning of the period	2,089,771	1,678,273
Cash, cash equivalents and restricted cash, end of the period	$ 2,202,074	$ 1,800,061

UNAUDITED CONSOLIDATED STATEM_4

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Total Global Payments Shareholders’ Equity	Total Global Payments Shareholders’ EquityCumulative Effect, Period of Adoption, Adjustment	Number of Shares	Paid-in Capital	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Balance at beginning of period (shares) at Dec. 31, 2019					300,226,000
Balance at beginning of period at Dec. 31, 2019	$ 28,054,989	$ (5,379)	$ 27,855,747	$ (5,379)		$ 25,833,307	$ 2,333,011	$ (5,379)	$ (310,571)	$ 199,242
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	150,608		143,575				143,575			7,033
Other comprehensive loss	(235,862)		(229,209)						(229,209)	(6,653)
Stock issued under share-based compensation plans (shares)					1,082,000
Stock issued under share-based compensation plans	28,283		28,283			28,283
Common stock repurchased - share-based compensation plans (shares)					(203,000)
Common stock repurchased - share-based compensation plans	(37,787)		(37,787)			(37,787)
Share-based compensation expense	$ 27,822		27,822			27,822
Repurchases of common stock (shares)	(2,094,731)				(2,095,000)
Repurchases of common stock	$ (403,962)		(403,962)			(326,441)	(77,521)
Dividends declared/ paid	(58,279)		(58,279)				(58,279)
Balance at end of period (shares) at Mar. 31, 2020					299,010,000
Balance at end of period at Mar. 31, 2020	27,520,433		27,320,811			25,525,184	2,335,407		(539,780)	199,622
Balance at beginning of period (shares) at Dec. 31, 2020					298,332,000
Balance at beginning of period at Dec. 31, 2020	27,487,044		27,332,370			24,963,769	2,570,874		(202,273)	154,674
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	198,410		196,681				196,681			1,729
Other comprehensive loss	(16,074)		(10,100)						(10,100)	(5,974)
Stock issued under share-based compensation plans (shares)					1,003,000
Stock issued under share-based compensation plans	17,705		17,705			17,705
Common stock repurchased - share-based compensation plans (shares)					(222,000)
Common stock repurchased - share-based compensation plans	(41,529)		(41,529)			(41,529)
Share-based compensation expense	$ 37,165		37,165			37,165
Repurchases of common stock (shares)	(3,955,400)				(3,955,000)
Repurchases of common stock	$ (782,956)		(782,956)			(573,787)	(209,169)
Dividends declared/ paid	(57,574)		(57,574)				(57,574)
Balance at end of period (shares) at Mar. 31, 2021					295,158,000
Balance at end of period at Mar. 31, 2021	$ 26,842,191		$ 26,691,762			$ 24,403,323	$ 2,500,812		$ (212,373)	$ 150,429

UNAUDITED CONSOLIDATED STATEM_5

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Accounting Standards Update [Extensible List]			us-gaap:AccountingStandardsUpdate201613Member
Dividends per share (USD per share)	$ 0.195	$ 0.195

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2021
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 pure play payments technology company delivering innovative software and 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 operate their businesses more efficiently across a variety of channels around the world. We operate in three reportable segments: Merchant Solutions, Issuer Solutions and Business and Consumer Solutions, which are described in "Note 10—Segment Information." 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, 2020 was derived from the audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020 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, 2020. COVID-19 Update - During 2020 and continuing into 2021, the global economy has been, and continues to be, affected by COVID-19. The pandemic has caused and may continue to cause significant disruptions to businesses and markets worldwide as the virus continues to spread or has a resurgence in certain jurisdictions. Measures have been implemented by governments worldwide in an effort to contain the virus, including lockdowns, physical distancing, travel restrictions, limitations on public gatherings, work from home and restrictions on nonessential businesses. Certain government actions to gradually ease restrictions, provide economic stimulus and distribute vaccines have resulted in signs of economic recovery. However, the effects of the pandemic are still evolving, and its ultimate severity and duration, and the implications on future global economic conditions, remain uncertain. 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. In particular, the future magnitude, duration and effects of the COVID-19 pandemic are difficult to predict at this time, and the ultimate effect could result in additional charges related to the recoverability of assets, including financial assets, long-lived assets and goodwill and other losses. These unaudited consolidated financial statements reflect the financial statement effects of COVID-19 based upon management’s estimates and assumptions utilizing the most currently available information. Recently adopted accounting pronouncements Accounting Standards Update ("ASU") 2019-12 — In December 2019, the Financial Accounting Standards Board ("FASB") issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ," which is intended to enhance and simplify various aspects of the accounting for income taxes. The amendments in this update remove certain exceptions to the general principles in Accounting Standards Codification ("ASC") Topic 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. ASU 2019-12 also clarifies and amends existing guidance to improve consistency in application of the accounting for franchise taxes, enacted changes in tax laws or rates and transactions that result in a step-up in the tax basis of goodwill. The adoption of ASU 2019-12 on January 1, 2021 did not have a material effect on our consolidated financial statements. Recently issued pronouncements not yet adopted ASU 2020-04 — In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ," which provides optional expedients and exceptions to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update apply only to contracts, hedging relationships, and other transactions that reference London Inter-bank Offered Rate ("LIBOR") or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022 for which an entity has elected certain optional expedients and which are retained through the end of the hedging relationship. The amendments in this update also include a general principle that permits an entity to consider contract modifications due to reference rate reform to be an event that does not require contract remeasurement at the modification date or reassessment of a previous accounting determination. If elected, the optional expedients for contract modifications must be applied consistently for all eligible contracts or eligible transactions within the relevant ASC Topic or Industry Subtopic that contains the guidance that otherwise would be required to be applied. The amendments in this update were effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. A portion of our indebtedness bears interest at a variable rate based on LIBOR. Furthermore, we have entered into hedging instruments to manage our exposure to fluctuations in the LIBOR benchmark interest rate. We are evaluating the effect of the discontinuance of LIBOR on our outstanding debt and hedging instruments and the related effect of ASU 2020-04 on our consolidated financial statements.

REVENUES

REVENUES	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES The following tables present a disaggregation of our revenues from contracts with customers by geography for each of our reportable segments for the three months ended March 31, 2021 and 2020: Three months ended March 31, 2021 Merchant Issuer Business and Intersegment Total (in thousands) Americas $ 1,080,470 $ 378,043 $ 240,633 $ (16,905) $ 1,682,241 Europe 132,934 117,412 2,952 — 253,298 Asia Pacific 54,468 4,796 — (4,796) 54,468 $ 1,267,872 $ 500,251 $ 243,585 $ (21,701) $ 1,990,007 Three months ended March 31, 2020 Merchant Issuer Business and Intersegment Total (in thousands) Americas $ 1,024,504 $ 393,754 $ 203,946 $ (17,733) $ 1,604,471 Europe 135,999 108,362 — — 244,361 Asia Pacific 54,766 1,646 — (1,646) 54,766 $ 1,215,269 $ 503,762 $ 203,946 $ (19,379) $ 1,903,598 The following table presents a disaggregation of our Merchant Solutions segment revenues by distribution channel for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 March 31, 2020 (in thousands) Relationship-led $ 668,556 $ 676,522 Technology-enabled 599,316 538,747 $ 1,267,872 $ 1,215,269 ASC Topic 606, Revenues from Contracts with Customers ("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 months ended March 31, 2021 and 2020, substantially all of our revenues were recognized over time. Supplemental balance sheet information related to contracts from customers as of March 31, 2021 and December 31, 2020 was as follows: Balance Sheet Location March 31, 2021 December 31, 2020 (in thousands) Assets: Capitalized costs to obtain customer contracts, net Other noncurrent assets $ 257,546 $ 253,780 Capitalized costs to fulfill customer contracts, net Other noncurrent assets $ 91,070 $ 81,371 Liabilities: Contract liabilities, net (current) Accounts payable and accrued liabilities $ 212,520 $ 217,938 Contract liabilities, net (noncurrent) Other noncurrent liabilities $ 49,740 $ 52,944 Net contract assets were not material at March 31, 2021 or at December 31, 2020. Revenue recognized for the three months ended March 31, 2021 and 2020 from contract liability balances at the beginning of each period was $85.9 million and $90.8 million, respectively. ASC 606 requires disclosure of the aggregate amount of the transaction price allocated to unsatisfied performance obligations. The purpose of this disclosure is to provide additional information about the amounts and expected timing of revenue to be recognized from the remaining performance obligations in our existing contracts. The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at March 31, 2021. However, as permitted, we have elected to exclude from this disclosure any contracts with an original duration of one year or less and any variable consideration that meets specified criteria. Accordingly, the total unsatisfied or partially unsatisfied performance obligations related to processing services is significantly higher than the amounts disclosed in the table below (in thousands): Year ending December 31, 2021 $ 732,761 2022 786,550 2023 582,240 2024 404,552 2025 302,335 2026 and thereafter 603,637 Total $ 3,412,075

LONG-TERM DEBT AND LINES OF CRE

LONG-TERM DEBT AND LINES OF CREDIT	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
LONG-TERM DEBT AND LINES OF CREDIT	LONG-TERM DEBT AND LINES OF CREDIT As of March 31, 2021 and December 31, 2020, long-term debt consisted of the following: March 31, 2021 December 31, 2020 (in thousands) 3.800% senior notes due April 1, 2021 $ — $ 752,199 3.750% senior notes due June 1, 2023 564,282 562,258 4.000% senior notes due June 1, 2023 560,990 565,930 2.650% senior notes due February 15, 2025 993,532 993,110 1.200% senior notes due March 1, 2026 1,090,577 — 4.800% senior notes due April 1, 2026 806,499 809,324 4.450% senior notes due June 1, 2028 481,490 482,588 3.200% senior notes due August 15, 2029 1,236,820 1,236,424 2.900% senior notes due May 15, 2030 989,318 989,025 4.150% senior notes due August 15, 2049 739,878 739,789 Unsecured term loan facility 1,986,780 1,985,776 Unsecured revolving credit facility 124,000 36,000 Finance lease liabilities 70,962 75,989 Other borrowings 46,454 65,352 Total long-term debt 9,691,582 9,293,764 Less current portion 64,530 827,357 Long-term debt, excluding current portion $ 9,627,052 $ 8,466,407 The carrying amounts of our senior notes and term loans in the table above are presented net of unamortized discount and unamortized debt issuance costs, as applicable. At March 31, 2021, unamortized discount on senior notes was $9.3 million, and unamortized debt issuance costs on senior notes and the unsecured term loan facility were $53.8 million. At December 31, 2020, unamortized discount on senior notes was $8.5 million, and unamortized debt issuance costs on our senior notes and the unsecured term loan facility were $47.4 million. The portion of unamortized debt issuance costs related to revolving credit facilities is included in other noncurrent assets. At March 31, 2021, unamortized debt issuance costs on the unsecured revolving credit facility were $12.6 million, and, at December 31, 2020, unamortized debt issuance costs on the unsecured revolving credit facility were $13.8 million. At March 31, 2021, future maturities of long-term debt (excluding finance lease liabilities) were as follows by year (in thousands): Year ending December 31, 2021 $ 37,950 2022 58,403 2023 1,300,000 2024 1,874,000 2025 1,000,000 2026 and thereafter 5,300,000 Total $ 9,570,353 Senior Unsecured Notes On February 26, 2021, we issued $1.1 billion in aggregate principal amount of 1.200% senior unsecured notes due March 2026. We incurred debt issuance costs of approximately $8.6 million, including underwriting fees, fees for professional services and registration fees, which were capitalized and reflected as a reduction of the related carrying amount of the notes in our consolidated balance sheet at March 31, 2021. Interest on the notes is payable semi-annually in arrears on March 1 and September 1 of each year, commencing September 1, 2021. The notes are unsecured and unsubordinated indebtedness and rank equally in right of payment with all of our other outstanding unsecured and unsubordinated indebtedness. We used the net proceeds from this offering to fund the redemption in full of the 3.800% senior unsecured notes due April 2021, to repay a portion of the outstanding indebtedness under our revolving credit facility and for general corporate purposes. As of March 31, 2021, our senior notes had a total carrying amount of $7.5 billion and an estimated fair value of $7.8 billion. The estimated fair value of our senior notes was based on quoted market prices in an active market and is considered to be a Level 1 measurement of the valuation hierarchy. The fair value of other long-term debt approximated its carrying amount at March 31, 2021. Compliance with Covenants The senior unsecured term loan and revolving credit facility contain customary conditions to funding, affirmative covenants, negative covenants, financial covenants and events of default. As of March 31, 2021, financial covenants under the term loan facility required a leverage ratio of 3.50 to 1.00 and an interest coverage ratio of 3.00 to 1.00. We were in compliance with all applicable covenants as of March 31, 2021. 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 (loss). The fair values of our 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 information about 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 March 31, 2021 Range of Maturity Dates at March 31, 2021 December 31, 2020 (in thousands) Interest rate swaps (Notional of $300 million at December 31, 2020) Accounts payable and accrued liabilities NA NA $ — $ 1,330 Interest rate swaps (Notional of $1,250 million at March 31, 2021 and December 31, 2020) Other noncurrent liabilities 2.73% December 31, 2022 $ 56,357 $ 65,490 NA = not applicable. The table below presents the effects of our interest rate swaps on the consolidated statements of income and statements of comprehensive income for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 March 31, 2020 (in thousands) Net unrealized gains (losses) recognized in other comprehensive income (loss) $ 994 $ (47,896) Net unrealized losses reclassified out of other comprehensive income (loss) to interest expense $ 10,838 $ 4,671 As of March 31, 2021, the amount of net unrealized losses 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 $38.3 million. Interest Expense Interest expense was $81.2 million and $81.1 million for the three months ended March 31, 2021 and 2020, respectively.

INCOME TAX

INCOME TAX	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAX	INCOME TAXOur effective income tax rate for the three months ended March 31, 2021 was 10.5%. Our effective income tax rate for the three months ended March 31, 2021 differed from the U.S. statutory rate primarily as a result of a change in the assessment of the need for a valuation allowance related to foreign tax credit carryforwards, foreign interest income not subject to tax, tax credits, the foreign-derived intangible income deduction and excess tax benefits of share-based awards.Our effective income tax rate for the three months ended March 31, 2020 was 10.1%. Our effective income tax rate for the three months ended March 31, 2020 differed from the U.S. statutory rate primarily as a result of tax credits, excess tax benefits of share-based awards and the foreign-derived intangible income deduction.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
SHAREHOLDERS’ EQUITY	SHAREHOLDERS’ EQUITY We repurchase our common stock mainly through open market repurchase plans and, at times, through accelerated share repurchase ("ASR") programs. During the three months ended March 31, 2021 and 2020, we repurchased and retired 3,955,400 and 2,094,731 shares of our common stock at a cost, including commissions, of $783.0 million and $404.0 million, or $198.00 per share and $192.85 per share, respectively. As of March 31, 2021, the remaining amount available under our share repurchase program was $901.0 million. On February 10, 2021, we entered into an ASR agreement with a financial institution to repurchase an aggregate of $500 million of our common stock. In exchange for an up-front payment of $500 million, the financial institution committed to deliver a number of shares during the ASR program purchase period, which ended on March 31, 2021. The total number of shares delivered under this ASR program was 2,491,161 shares at an average price of $200.71 per share. On April 29, 2021, our board of directors declared a dividend of $0.195 per share payable on June 25, 2021 to common shareholders of record as of June 11, 2021.

SHARE-BASED AWARDS AND STOCK OP

SHARE-BASED AWARDS AND STOCK OPTIONS	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
SHARE-BASED AWARDS AND STOCK OPTIONS	SHARE-BASED AWARDS AND STOCK 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 March 31, 2021 March 31, 2020 (in thousands) Share-based compensation expense $ 37,165 $ 27,822 Income tax benefit $ 8,399 $ 6,473 Share-Based Awards The following table summarizes the changes in unvested restricted stock and performance awards for the three months ended March 31, 2021: Shares Weighted-Average (in thousands) Unvested at December 31, 2020 1,546 $176.71 Granted 836 188.52 Vested (578) 148.95 Forfeited (14) 181.58 Unvested at March 31, 2021 1,790 $181.40 The total fair value of restricted stock and performance awards vested during the three months ended March 31, 2021 and March 31, 2020 was $86.1 million and $64.6 million, respectively. For restricted stock and performance awards, we recognized compensation expense of $33.5 million and $25.2 million during the three months ended March 31, 2021 and 2020, respectively. As of March 31, 2021, there was $289.4 million of unrecognized compensation expense related to unvested restricted stock and performance awards that we expect to recognize over a weighted-average period of 1.1 years. Stock Options The following table summarizes stock option activity for the three months ended March 31, 2021: Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (years) (in millions) Outstanding at December 31, 2020 1,253 $93.66 6.3 $152.6 Granted 112 196.06 Exercised (163) 70.51 Outstanding at March 31, 2021 1,202 $106.19 6.5 $114.7 Options vested and exercisable at March 31, 2021 925 $85.79 5.8 $107.1 We recognized compensation expense for stock options of $2.4 million and $1.9 million during the three months ended March 31, 2021 and 2020, respectively. The aggregate intrinsic value of stock options exercised during the three months ended March 31, 2021 and 2020 was $20.6 million and $53.6 million, respectively. As of March 31, 2021, we had $14.1 million of unrecognized compensation expense related to unvested stock options that we expect to recognize over a weighted-average period of 2.3 years. The weighted-average grant-date fair value of stock options granted during the three months ended March 31, 2021 and 2020 was $65.99 and $54.85, respectively. Fair value was estimated on the date of grant using the Black-Scholes valuation model with the following weighted-average assumptions: Three Months Ended March 31, 2021 March 31, 2020 Risk-free interest rate 0.59% 1.24% Expected volatility 40% 30% Dividend yield 0.44% 0.39% 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	3 Months Ended
	Mar. 31, 2021
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 dilutive share base for the three months ended March 31, 2020 excluded approximately 124,888 shares related to stock options that would have an antidilutive effect on the computation of diluted earnings per share. There were no such shares for the three months ended March 31, 2021. The following table sets forth the computation of diluted weighted-average number of shares outstanding for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 March 31, 2020 (in thousands) Basic weighted-average number of shares outstanding 296,425 299,388 Plus: Dilutive effect of stock options and other share-based awards 1,246 1,450 Diluted weighted-average number of shares outstanding 297,671 300,838

SUPPLEMENTAL BALANCE SHEET INFO

SUPPLEMENTAL BALANCE SHEET INFORMATION	3 Months Ended
	Mar. 31, 2021
Balance Sheet Related Disclosures [Abstract]
SUPPLEMENTAL BALANCE SHEET INFORMATION	SUPPLEMENTAL BALANCE SHEET INFORMATION Cash, cash equivalents and restricted cash A reconciliation of cash, cash equivalents and restricted cash in the consolidated statements of cash flows as of March 31, 2021 and December 31, 2020 to the amounts in the consolidated balance sheets is as follows: March 31, 2021 December 31, 2020 (in thousands) Cash and cash equivalents $ 2,082,414 $ 1,945,868 Restricted cash included in prepaid expenses and other current assets 119,660 143,903 Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 2,202,074 $ 2,089,771 Accounts payable and accrued liabilities At March 31, 2021 and December 31, 2020, accounts payable and accrued liabilities in the consolidated balance sheet included obligations totaling $43.5 million and $48.4 million, respectively, for employee termination benefits resulting from merger-related integration activities. During the three months ended March 31, 2021, we recognized charges for employee termination benefits of $25.2 million, which included $0.5 million of share-based compensation expense. During the three months ended March 31, 2020, we recognized charges for employee termination benefits of $17.6 million, which included $2.6 million of share-based compensation expense. As of March 31, 2021, the cumulative amount of recognized charges for employee termination benefits resulting from merger-related integration activities was $165.6 million, which included $24.5 million of share-based compensation expense. These charges are recorded within selling, general and administrative expenses in our consolidated statements of income and included within Corporate expenses for segment reporting purposes. New obligations may arise and related expenses may be incurred as merger-related integration activities continue in 2021.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	3 Months Ended
	Mar. 31, 2021
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 months ended March 31, 2021 and 2020: Foreign Currency Translation Gains (Losses) Unrealized Gains (Losses) on Hedging Activities Other Accumulated Other Comprehensive Loss (in thousands) Balance at December 31, 2020 $ (114,227) $ (81,543) $ (6,503) $ (202,273) Other comprehensive (loss) income (26,843) 8,968 7,775 (10,100) Balance at March 31, 2021 $ (141,070) $ (72,575) $ 1,272 $ (212,373) Balance at December 31, 2019 $ (241,899) $ (69,319) $ 647 $ (310,571) Other comprehensive (loss) income (196,451) (32,879) 121 (229,209) Balance at March 31, 2020 $ (438,350) $ (102,198) $ 768 $ (539,780) Other comprehensive loss attributable to noncontrolling interests, which relates only to foreign currency translation, was $6.0 million and $6.7 million for the three months ended March 31, 2021 and 2020, respectively.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATIONWe operate in three reportable segments: Merchant Solutions, Issuer Solutions and Business and Consumer Solutions. 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 share-based compensation costs are included in Corporate. Interest and other income, interest and other expense, income tax expense and equity in income of equity method investments, net of tax, 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, 2020 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, consolidated operating income and consolidated depreciation and amortization was as follows for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 March 31, 2020 (in thousands) Revenues : Merchant Solutions $ 1,267,872 $ 1,215,269 Issuer Solutions 500,251 503,762 Business and Consumer Solutions 243,585 203,946 Intersegment eliminations (21,701) (19,379) Consolidated revenues $ 1,990,007 $ 1,903,598 Operating income (loss) (1) : Merchant Solutions $ 339,989 $ 304,153 Issuer Solutions 68,455 59,304 Business and Consumer Solutions 61,923 31,112 Corporate (195,108) (150,590) Consolidated operating income $ 275,259 $ 243,979 Depreciation and amortization : Merchant Solutions $ 250,596 $ 233,021 Issuer Solutions 144,609 136,737 Business and Consumer Solutions 21,920 23,641 Corporate 8,448 4,419 Consolidated depreciation and amortization $ 425,573 $ 397,818

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Purchase Obligations We have contractual obligations related to service arrangements with suppliers for fixed or minimum amounts. Future minimum payments at March 31, 2021 for purchase obligations were as follows (in thousands): Year ending December 31: 2021 $ 404,484 2022 232,720 2023 183,005 2024 151,030 2025 154,986 2026 184,041 2027 and thereafter 754,025 Total future minimum payments $ 2,064,291 Legal Matters We are party to a number of claims and lawsuits incidental to our business. In our opinion, the liabilities, if any, which may ultimately result from the outcome of such matters, individually or in the aggregate, are not expected to have a material adverse effect on our financial position, liquidity, results of operations or cash flows. On September 23, 2019, a jury in the Superior Court of Dekalb County Georgia, awarded Frontline Processing Corp. ("Frontline") $135.2 million in damages, costs and attorney's fees (plus interest) following a trial of a breach of contract dispute between Frontline and Global Payments, wherein Frontline alleged that Global Payments violated provisions of the parties' Referral Agreement and Master Services Agreement. The Superior Court entered a final judgment on the verdict in favor of Frontline on September 30, 2019. We believe the jury verdict is in error and Frontline’s case is completely without merit, and we have appealed the decision to the Georgia Court of Appeals. Our appeal is pending. While it is reasonably possible that we will incur some loss between zero and the judgment amount plus interest, we have determined that it is not probable that Global Payments has incurred a loss under the applicable accounting standard (ASC Topic 450, Contingencies) as of March 31, 2021. As a result, we have not recorded a liability on the consolidated balance sheet with respect to this litigation.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENTOn May 4, 2021, we announced our plan to acquire Zego (Powered by PayLease), a leading property technology company that modernizes the resident experience with a comprehensive management software platform. Pursuant to the terms and subject to the conditions set forth in the purchase agreement, we will pay the seller cash consideration of approximately $925 million, which we plan to fund with cash on hand and our revolving credit facility. We expect the acquisition to close by the end of the second quarter of 2021, subject to regulatory approval and customary closing conditions.

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Business, consolidation and presentation	Business, consolidation and presentation - We are a leading pure play payments technology company delivering innovative software and 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 operate their businesses more efficiently across a variety of channels around the world. We operate in three reportable segments: Merchant Solutions, Issuer Solutions and Business and Consumer Solutions, which are described in "Note 10—Segment Information." 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, 2020 was derived from the audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020 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, 2020.
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. In particular, the future magnitude, duration and effects of the COVID-19 pandemic are difficult to predict at this time, and the ultimate effect could result in additional charges related to the recoverability of assets, including financial assets, long-lived assets and goodwill and other losses. These unaudited consolidated financial statements reflect the financial statement effects of COVID-19 based upon management’s estimates and assumptions utilizing the most currently available information.
Recently adopted accounting pronouncements and recently issued pronouncements not yet adopted	Recently adopted accounting pronouncements Accounting Standards Update ("ASU") 2019-12 — In December 2019, the Financial Accounting Standards Board ("FASB") issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ," which is intended to enhance and simplify various aspects of the accounting for income taxes. The amendments in this update remove certain exceptions to the general principles in Accounting Standards Codification ("ASC") Topic 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. ASU 2019-12 also clarifies and amends existing guidance to improve consistency in application of the accounting for franchise taxes, enacted changes in tax laws or rates and transactions that result in a step-up in the tax basis of goodwill. The adoption of ASU 2019-12 on January 1, 2021 did not have a material effect on our consolidated financial statements. Recently issued pronouncements not yet adopted ASU 2020-04 — In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ," which provides optional expedients and exceptions to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update apply only to contracts, hedging relationships, and other transactions that reference London Inter-bank Offered Rate ("LIBOR") or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022 for which an entity has elected certain optional expedients and which are retained through the end of the hedging relationship. The amendments in this update also include a general principle that permits an entity to consider contract modifications due to reference rate reform to be an event that does not require contract remeasurement at the modification date or reassessment of a previous accounting determination. If elected, the optional expedients for contract modifications must be applied consistently for all eligible contracts or eligible transactions within the relevant ASC Topic or Industry Subtopic that contains the guidance that otherwise would be required to be applied. The amendments in this update were effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. A portion of our indebtedness bears interest at a variable rate based on LIBOR. Furthermore, we have entered into hedging instruments to manage our exposure to fluctuations in the LIBOR benchmark interest rate. We are evaluating the effect of the discontinuance of LIBOR on our outstanding debt and hedging instruments and the related effect of ASU 2020-04 on our consolidated financial statements.

REVENUES (Tables)

REVENUES (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables present a disaggregation of our revenues from contracts with customers by geography for each of our reportable segments for the three months ended March 31, 2021 and 2020: Three months ended March 31, 2021 Merchant Issuer Business and Intersegment Total (in thousands) Americas $ 1,080,470 $ 378,043 $ 240,633 $ (16,905) $ 1,682,241 Europe 132,934 117,412 2,952 — 253,298 Asia Pacific 54,468 4,796 — (4,796) 54,468 $ 1,267,872 $ 500,251 $ 243,585 $ (21,701) $ 1,990,007 Three months ended March 31, 2020 Merchant Issuer Business and Intersegment Total (in thousands) Americas $ 1,024,504 $ 393,754 $ 203,946 $ (17,733) $ 1,604,471 Europe 135,999 108,362 — — 244,361 Asia Pacific 54,766 1,646 — (1,646) 54,766 $ 1,215,269 $ 503,762 $ 203,946 $ (19,379) $ 1,903,598 The following table presents a disaggregation of our Merchant Solutions segment revenues by distribution channel for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 March 31, 2020 (in thousands) Relationship-led $ 668,556 $ 676,522 Technology-enabled 599,316 538,747 $ 1,267,872 $ 1,215,269
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information related to contracts from customers as of March 31, 2021 and December 31, 2020 was as follows: Balance Sheet Location March 31, 2021 December 31, 2020 (in thousands) Assets: Capitalized costs to obtain customer contracts, net Other noncurrent assets $ 257,546 $ 253,780 Capitalized costs to fulfill customer contracts, net Other noncurrent assets $ 91,070 $ 81,371 Liabilities: Contract liabilities, net (current) Accounts payable and accrued liabilities $ 212,520 $ 217,938 Contract liabilities, net (noncurrent) Other noncurrent liabilities $ 49,740 $ 52,944
Schedule of Expected Timing of Satisfaction of Remaining Performance Obligation	The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at March 31, 2021. However, as permitted, we have elected to exclude from this disclosure any contracts with an original duration of one year or less and any variable consideration that meets specified criteria. Accordingly, the total unsatisfied or partially unsatisfied performance obligations related to processing services is significantly higher than the amounts disclosed in the table below (in thousands): Year ending December 31, 2021 $ 732,761 2022 786,550 2023 582,240 2024 404,552 2025 302,335 2026 and thereafter 603,637 Total $ 3,412,075

LONG-TERM DEBT AND LINES OF C_2

LONG-TERM DEBT AND LINES OF CREDIT (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	As of March 31, 2021 and December 31, 2020, long-term debt consisted of the following: March 31, 2021 December 31, 2020 (in thousands) 3.800% senior notes due April 1, 2021 $ — $ 752,199 3.750% senior notes due June 1, 2023 564,282 562,258 4.000% senior notes due June 1, 2023 560,990 565,930 2.650% senior notes due February 15, 2025 993,532 993,110 1.200% senior notes due March 1, 2026 1,090,577 — 4.800% senior notes due April 1, 2026 806,499 809,324 4.450% senior notes due June 1, 2028 481,490 482,588 3.200% senior notes due August 15, 2029 1,236,820 1,236,424 2.900% senior notes due May 15, 2030 989,318 989,025 4.150% senior notes due August 15, 2049 739,878 739,789 Unsecured term loan facility 1,986,780 1,985,776 Unsecured revolving credit facility 124,000 36,000 Finance lease liabilities 70,962 75,989 Other borrowings 46,454 65,352 Total long-term debt 9,691,582 9,293,764 Less current portion 64,530 827,357 Long-term debt, excluding current portion $ 9,627,052 $ 8,466,407
Schedule of Maturities of Long-Term Debt	At March 31, 2021, future maturities of long-term debt (excluding finance lease liabilities) were as follows by year (in thousands): Year ending December 31, 2021 $ 37,950 2022 58,403 2023 1,300,000 2024 1,874,000 2025 1,000,000 2026 and thereafter 5,300,000 Total $ 9,570,353
Schedule of Derivative Instruments	The table below presents information about 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 March 31, 2021 Range of Maturity Dates at March 31, 2021 December 31, 2020 (in thousands) Interest rate swaps (Notional of $300 million at December 31, 2020) Accounts payable and accrued liabilities NA NA $ — $ 1,330 Interest rate swaps (Notional of $1,250 million at March 31, 2021 and December 31, 2020) Other noncurrent liabilities 2.73% December 31, 2022 $ 56,357 $ 65,490 NA = not applicable.
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 statements of comprehensive income for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 March 31, 2020 (in thousands) Net unrealized gains (losses) recognized in other comprehensive income (loss) $ 994 $ (47,896) Net unrealized losses reclassified out of other comprehensive income (loss) to interest expense $ 10,838 $ 4,671

SHARE-BASED AWARDS AND STOCK _2

SHARE-BASED AWARDS AND STOCK OPTIONS (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 March 31, 2020 (in thousands) Share-based compensation expense $ 37,165 $ 27,822 Income tax benefit $ 8,399 $ 6,473
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 three months ended March 31, 2021: Shares Weighted-Average (in thousands) Unvested at December 31, 2020 1,546 $176.71 Granted 836 188.52 Vested (578) 148.95 Forfeited (14) 181.58 Unvested at March 31, 2021 1,790 $181.40
Schedule of Stock Option Activity	The following table summarizes stock option activity for the three months ended March 31, 2021: Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (years) (in millions) Outstanding at December 31, 2020 1,253 $93.66 6.3 $152.6 Granted 112 196.06 Exercised (163) 70.51 Outstanding at March 31, 2021 1,202 $106.19 6.5 $114.7 Options vested and exercisable at March 31, 2021 925 $85.79 5.8 $107.1
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: Three Months Ended March 31, 2021 March 31, 2020 Risk-free interest rate 0.59% 1.24% Expected volatility 40% 30% Dividend yield 0.44% 0.39% Expected term (years) 5 5

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2021
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 months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 March 31, 2020 (in thousands) Basic weighted-average number of shares outstanding 296,425 299,388 Plus: Dilutive effect of stock options and other share-based awards 1,246 1,450 Diluted weighted-average number of shares outstanding 297,671 300,838

SUPPLEMENTAL BALANCE SHEET IN_2

SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2021
Balance Sheet Related Disclosures [Abstract]
Schedule of Reconciliation of Cash and Cash Equivalents	A reconciliation of cash, cash equivalents and restricted cash in the consolidated statements of cash flows as of March 31, 2021 and December 31, 2020 to the amounts in the consolidated balance sheets is as follows: March 31, 2021 December 31, 2020 (in thousands) Cash and cash equivalents $ 2,082,414 $ 1,945,868 Restricted cash included in prepaid expenses and other current assets 119,660 143,903 Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 2,202,074 $ 2,089,771
Schedule of Reconciliation of Restricted Cash	A reconciliation of cash, cash equivalents and restricted cash in the consolidated statements of cash flows as of March 31, 2021 and December 31, 2020 to the amounts in the consolidated balance sheets is as follows: March 31, 2021 December 31, 2020 (in thousands) Cash and cash equivalents $ 2,082,414 $ 1,945,868 Restricted cash included in prepaid expenses and other current assets 119,660 143,903 Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 2,202,074 $ 2,089,771

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The changes in the accumulated balances for each component of other comprehensive income (loss) were as follows for the three months ended March 31, 2021 and 2020: Foreign Currency Translation Gains (Losses) Unrealized Gains (Losses) on Hedging Activities Other Accumulated Other Comprehensive Loss (in thousands) Balance at December 31, 2020 $ (114,227) $ (81,543) $ (6,503) $ (202,273) Other comprehensive (loss) income (26,843) 8,968 7,775 (10,100) Balance at March 31, 2021 $ (141,070) $ (72,575) $ 1,272 $ (212,373) Balance at December 31, 2019 $ (241,899) $ (69,319) $ 647 $ (310,571) Other comprehensive (loss) income (196,451) (32,879) 121 (229,209) Balance at March 31, 2020 $ (438,350) $ (102,198) $ 768 $ (539,780)

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Information on segments and reconciliations to consolidated revenues, consolidated operating income and consolidated depreciation and amortization was as follows for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 March 31, 2020 (in thousands) Revenues : Merchant Solutions $ 1,267,872 $ 1,215,269 Issuer Solutions 500,251 503,762 Business and Consumer Solutions 243,585 203,946 Intersegment eliminations (21,701) (19,379) Consolidated revenues $ 1,990,007 $ 1,903,598 Operating income (loss) (1) : Merchant Solutions $ 339,989 $ 304,153 Issuer Solutions 68,455 59,304 Business and Consumer Solutions 61,923 31,112 Corporate (195,108) (150,590) Consolidated operating income $ 275,259 $ 243,979 Depreciation and amortization : Merchant Solutions $ 250,596 $ 233,021 Issuer Solutions 144,609 136,737 Business and Consumer Solutions 21,920 23,641 Corporate 8,448 4,419 Consolidated depreciation and amortization $ 425,573 $ 397,818

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments for Purchase Obligations	Future minimum payments at March 31, 2021 for purchase obligations were as follows (in thousands): Year ending December 31: 2021 $ 404,484 2022 232,720 2023 183,005 2024 151,030 2025 154,986 2026 184,041 2027 and thereafter 754,025 Total future minimum payments $ 2,064,291

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	3 Months Ended
	Mar. 31, 2021segment
Accounting Policies [Abstract]
Number of reportable segments	3

REVENUES - Disaggregation of Re

REVENUES - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 1,990,007	$ 1,903,598
Americas
Disaggregation of Revenue [Line Items]
Revenues	1,682,241	1,604,471
Europe
Disaggregation of Revenue [Line Items]
Revenues	253,298	244,361
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	54,468	54,766
Operating Segments | Merchant Solutions
Disaggregation of Revenue [Line Items]
Revenues	1,267,872	1,215,269
Operating Segments | Merchant Solutions | Relationship-led
Disaggregation of Revenue [Line Items]
Revenues	668,556	676,522
Operating Segments | Merchant Solutions | Technology-enabled
Disaggregation of Revenue [Line Items]
Revenues	599,316	538,747
Operating Segments | Merchant Solutions | Americas
Disaggregation of Revenue [Line Items]
Revenues	1,080,470	1,024,504
Operating Segments | Merchant Solutions | Europe
Disaggregation of Revenue [Line Items]
Revenues	132,934	135,999
Operating Segments | Merchant Solutions | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	54,468	54,766
Operating Segments | Issuer Solutions
Disaggregation of Revenue [Line Items]
Revenues	500,251	503,762
Operating Segments | Issuer Solutions | Americas
Disaggregation of Revenue [Line Items]
Revenues	378,043	393,754
Operating Segments | Issuer Solutions | Europe
Disaggregation of Revenue [Line Items]
Revenues	117,412	108,362
Operating Segments | Issuer Solutions | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	4,796	1,646
Operating Segments | Business and Consumer Solutions
Disaggregation of Revenue [Line Items]
Revenues	243,585	203,946
Operating Segments | Business and Consumer Solutions | Americas
Disaggregation of Revenue [Line Items]
Revenues	240,633	203,946
Operating Segments | Business and Consumer Solutions | Europe
Disaggregation of Revenue [Line Items]
Revenues	2,952	0
Operating Segments | Business and Consumer Solutions | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	0	0
Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Revenues	(21,701)	(19,379)
Intersegment Eliminations | Americas
Disaggregation of Revenue [Line Items]
Revenues	(16,905)	(17,733)
Intersegment Eliminations | Europe
Disaggregation of Revenue [Line Items]
Revenues	0	0
Intersegment Eliminations | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	$ (4,796)	$ (1,646)

REVENUES - Supplemental Balance

REVENUES - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Liabilities:
Contract liabilities, net (current)	$ 212,520	$ 217,938
Contract liabilities, net (noncurrent)	49,740	52,944
Obtain Contract
Assets:
Capitalized costs, net	257,546	253,780
Fulfill Contract
Assets:
Capitalized costs, net	$ 91,070	$ 81,371

REVENUES - Narrative (Details)

REVENUES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue recognized from contract liabilities balances at beginning of the period	$ 85.9	$ 90.8

REVENUES - Remaining Performanc

REVENUES - Remaining Performance Obligations (Details) $ in Thousands	Mar. 31, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 3,412,075
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 732,761
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 786,550
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 582,240
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 404,552
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 302,335
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 603,637
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period

LONG-TERM DEBT AND LINES OF C_3

LONG-TERM DEBT AND LINES OF CREDIT - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Feb. 26, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Finance lease liabilities	$ 70,962		$ 75,989
Total long-term debt	9,691,582		9,293,764
Less current portion	64,530		827,357
Long-term debt, excluding current portion	9,627,052		8,466,407
Unsecured term loan facility
Debt Instrument [Line Items]
Gross long-term debt	1,986,780		1,985,776
Unsecured revolving credit facility
Debt Instrument [Line Items]
Gross long-term debt	124,000		36,000
Other borrowings
Debt Instrument [Line Items]
Gross long-term debt	46,454		65,352
3.800% senior notes due April 1, 2021 | Senior Notes
Debt Instrument [Line Items]
Gross long-term debt	$ 0		752,199
Stated interest rate (as a percent)	3.80%
3.750% senior notes due June 1, 2023 | Senior Notes
Debt Instrument [Line Items]
Gross long-term debt	$ 564,282		562,258
Stated interest rate (as a percent)	3.75%
4.000% senior notes due June 1, 2023 | Senior Notes
Debt Instrument [Line Items]
Gross long-term debt	$ 560,990		565,930
Stated interest rate (as a percent)	4.00%
2.650% senior notes due February 15, 2025 | Senior Notes
Debt Instrument [Line Items]
Gross long-term debt	$ 993,532		993,110
Stated interest rate (as a percent)	2.65%
1.200% senior notes due March 1, 2026 | Senior Notes
Debt Instrument [Line Items]
Gross long-term debt	$ 1,090,577		0
Stated interest rate (as a percent)	1.20%	1.20%
4.800% senior notes due April 1, 2026 | Senior Notes
Debt Instrument [Line Items]
Gross long-term debt	$ 806,499		809,324
Stated interest rate (as a percent)	4.80%
4.450% senior notes due June 1, 2028 | Senior Notes
Debt Instrument [Line Items]
Gross long-term debt	$ 481,490		482,588
Stated interest rate (as a percent)	4.45%
3.200% senior notes due August 15, 2029 | Senior Notes
Debt Instrument [Line Items]
Gross long-term debt	$ 1,236,820		1,236,424
Stated interest rate (as a percent)	3.20%
2.900% senior notes due May 15, 2030 | Senior Notes
Debt Instrument [Line Items]
Gross long-term debt	$ 989,318		989,025
Stated interest rate (as a percent)	2.90%
4.150% senior notes due August 15, 2049 | Senior Notes
Debt Instrument [Line Items]
Gross long-term debt	$ 739,878		$ 739,789
Stated interest rate (as a percent)	4.15%

LONG-TERM DEBT AND LINES OF C_4

LONG-TERM DEBT AND LINES OF CREDIT - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Feb. 26, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Proceeds from long-term debt	$ 1,987,005	$ 607,000
Interest expense	81,200	$ 81,100
Interest rate swap
Debt Instrument [Line Items]
Accumulated other comprehensive income (loss) related to interest rate	38,300
Senior Notes and Term Loans
Debt Instrument [Line Items]
Unamortized debt issuance costs	53,800
Senior Notes
Debt Instrument [Line Items]
Unamortized discount	9,300			$ 8,500
Long-term debt	7,500,000
Fair value of debt instrument	$ 7,800,000
Senior Notes | 1.200% senior notes due March 1, 2026
Debt Instrument [Line Items]
Face amount of debt instrument			$ 1,100,000
Stated interest rate (as a percent)	1.20%		1.20%
Debt issuance costs			$ 8,600
Term Loans
Debt Instrument [Line Items]
Unamortized debt issuance costs				47,400
Unsecured Debt | Unsecured revolving credit facility
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ 12,600
Unsecured Debt | Unsecured term loan facility
Debt Instrument [Line Items]
Minimum leverage ratio	3.50
Minimum interest coverage ratio	3
Line of credit
Debt Instrument [Line Items]
Unamortized debt issuance costs				$ 13,800

LONG-TERM DEBT AND LINES OF C_5

LONG-TERM DEBT AND LINES OF CREDIT - Maturities of Long-Term Debt (Details) $ in Thousands	Mar. 31, 2021USD ($)
Debt Disclosure [Abstract]
2021	$ 37,950
2022	58,403
2023	1,300,000
2024	1,874,000
2025	1,000,000
2026 and thereafter	5,300,000
Total	$ 9,570,353

LONG-TERM DEBT AND LINES OF C_6

LONG-TERM DEBT AND LINES OF CREDIT - Derivative Instruments (Details) - Interest rate swap - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accounts payable and accrued liabilities
Debt Instrument [Line Items]
Notional amount		$ 300,000
Interest rate swaps	$ 0	1,330
Other noncurrent liabilities
Debt Instrument [Line Items]
Notional amount	$ 1,250,000	1,250,000
Weighted-average fixed rate of interest (as a percent)	2.73%
Interest rate swaps	$ 56,357	$ 65,490

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
	Mar. 31, 2021	Mar. 31, 2020
Debt Disclosure [Abstract]
Net unrealized gains (losses) recognized in other comprehensive income (loss)	$ 994	$ (47,896)
Net unrealized losses reclassified out of other comprehensive income (loss) to interest expense	$ 10,838	$ 4,671

INCOME TAX - Narrative (Details

INCOME TAX - Narrative (Details)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	(10.50%)	(10.10%)

SHAREHOLDERS' EQUITY - Narrativ

SHAREHOLDERS' EQUITY - Narrative (Details) - USD ($)	Apr. 29, 2021	Feb. 10, 2021	Mar. 31, 2021	Mar. 31, 2020
Equity, Class of Treasury Stock [Line Items]
Stock repurchased and retired (shares)			3,955,400	2,094,731
Value of stock repurchased and retired			$ 782,956,000	$ 403,962,000
Average cost per share (USD per share)			$ 198	$ 192.85
Remaining authorized repurchase amount (up to)			$ 901,000,000
Authorized amount of Accelerated Share Repurchase Program		$ 500,000,000
Up-front payment for Accelerated Share Repurchase Program		$ 500,000,000
Total stock delivered under Accelerated Share Repurchase Program to date (shares)			2,491,161
Average price per share of stock delivered under Accelerated Share Repurchase Program to date (USD per share)			$ 200.71
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Dividends declared (USD per share)	$ 0.195

SHARE-BASED AWARDS AND STOCK _3

SHARE-BASED AWARDS AND STOCK OPTIONS - Share-Based Compensation Expense and Income Tax Benefit (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Share-based compensation expense	$ 37,165	$ 27,822
Income tax benefit	$ 8,399	$ 6,473

SHARE-BASED AWARDS AND STOCK _4

SHARE-BASED AWARDS AND STOCK OPTIONS - Share-Based Awards (Details) - Share-Based Awards shares in Thousands	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Shares
Beginning balance (shares) | shares	1,546
Granted (shares) | shares	836
Vested (shares) | shares	(578)
Forfeited (shares) | shares	(14)
Ending balance (shares) | shares	1,790
Weighted-Average Grant-Date Fair Value
Beginning balance (USD per share) | $ / shares	$ 176.71
Granted (USD per share) | $ / shares	188.52
Vested (USD per share) | $ / shares	148.95
Forfeited (USD per share) | $ / shares	181.58
Ending balance (USD per share) | $ / shares	$ 181.40

SHARE-BASED AWARDS AND STOCK _5

SHARE-BASED AWARDS AND STOCK OPTIONS - Share-Based Awards Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 37,165	$ 27,822
Share-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of share-based awards vested	86,100	64,600
Share-based compensation expense	33,500	$ 25,200
Compensation not yet recognized	$ 289,400
Weighted-average period of unrecognized compensation cost	1 year 1 month 6 days

SHARE-BASED AWARDS AND STOCK _6

SHARE-BASED AWARDS AND STOCK OPTIONS - Stock Option Activity (Details) - Employee stock option - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Options
Outstanding at beginning of period (shares)	1,253
Granted (shares)	112
Exercised (shares)	(163)
Outstanding at end of period (shares)	1,202	1,253
Options vested and exercisable (shares)	925
Weighted-Average Exercise Price
Outstanding at beginning of period (USD per share)	$ 93.66
Granted (USD per share)	196.06
Exercised (USD per share)	70.51
Outstanding at end of period (USD per share)	106.19	$ 93.66
Options vested and exercisable (USD per share)	$ 85.79
Weighted-Average Remaining Contractual Term
Outstanding	6 years 6 months	6 years 3 months 18 days
Options vested and exercisable	5 years 9 months 18 days
Aggregate Intrinsic Value
Outstanding	$ 114.7	$ 152.6
Options vested and exercisable	$ 107.1

SHARE-BASED AWARDS AND STOCK _7

SHARE-BASED AWARDS AND STOCK OPTIONS - Stock Options Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 37,165	$ 27,822
Employee stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	2,400	1,900
Aggregate intrinsic value of stock options exercised	20,600	$ 53,600
Total unrecognized compensation cost	$ 14,100
Weighted-average period of unrecognized compensation cost	2 years 3 months 18 days
Weighted average grant date fair value for each option granted (USD per share)	$ 65.99	$ 54.85

SHARE-BASED AWARDS AND STOCK _8

SHARE-BASED AWARDS AND STOCK OPTIONS - Valuation Assumptions (Details) - Employee stock option	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (as a percent)	0.59%	1.24%
Expected volatility (as a percent)	40.00%	30.00%
Dividend yield (as a percent)	0.44%	0.39%
Expected term (years)	5 years	5 years

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (shares)	0	124,888,000

EARNINGS PER SHARE - Summary (D

EARNINGS PER SHARE - Summary (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Basic weighted-average number of shares outstanding (shares)	296,425	299,388
Plus: Dilutive effect of stock options and other share-based awards (shares)	1,246	1,450
Diluted weighted-average number of shares outstanding (shares)	297,671	300,838

SUPPLEMENTAL BALANCE SHEET IN_3

SUPPLEMENTAL BALANCE SHEET INFORMATION - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]
Cash and cash equivalents	$ 2,082,414	$ 1,945,868
Restricted cash included in prepaid expenses and other current assets	119,660	143,903
Cash, cash equivalents and restricted cash shown in the statement of cash flows	$ 2,202,074	$ 2,089,771	$ 1,800,061	$ 1,678,273

SUPPLEMENTAL BALANCE SHEET IN_4

SUPPLEMENTAL BALANCE SHEET INFORMATION - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Employee termination benefits obligations	$ 43.5		$ 48.4
Charges for employee termination benefitsd	25.2	$ 17.6
Share-based compensation expense associated with equity awards held by terminated employees	0.5	$ 2.6
Cumulative charges for employee termination benefits	165.6
Cumulative charges for employee termination benefits related to share-based compensation expense	$ 24.5

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Equity [Abstract]
Foreign currency translation adjustment, other comprehensive income (loss)	$ 6	$ 6.7

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE LOSS - Summary (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 27,332,370
Other comprehensive (loss) income	(10,100)	$ (229,209)
Balance at end of period	26,691,762
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(202,273)	(310,571)
Balance at end of period	(212,373)	(539,780)
Foreign Currency Translation Gains (Losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(114,227)	(241,899)
Other comprehensive (loss) income	(26,843)	(196,451)
Balance at end of period	(141,070)	(438,350)
Unrealized Gains (Losses) on Hedging Activities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(81,543)	(69,319)
Other comprehensive (loss) income	8,968	(32,879)
Balance at end of period	(72,575)	(102,198)
Other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(6,503)	647
Other comprehensive (loss) income	7,775	121
Balance at end of period	$ 1,272	$ 768

SEGMENT INFORMATION - Summary (

SEGMENT INFORMATION - Summary (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	3
Segment Reporting Information [Line Items]
Revenues	$ 1,990,007	$ 1,903,598
Operating income (loss)	275,259	243,979
Depreciation and amortization	425,573	397,818
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	(21,701)	(19,379)
Corporate
Segment Reporting Information [Line Items]
Operating income (loss)	(195,108)	(150,590)
Depreciation and amortization	8,448	4,419
Acquisition-related costs	90,100	69,700
Merchant Solutions | Operating segments
Segment Reporting Information [Line Items]
Revenues	1,267,872	1,215,269
Operating income (loss)	339,989	304,153
Depreciation and amortization	250,596	233,021
Issuer Solutions | Operating segments
Segment Reporting Information [Line Items]
Revenues	500,251	503,762
Operating income (loss)	68,455	59,304
Depreciation and amortization	144,609	136,737
Business and Consumer Solutions | Operating segments
Segment Reporting Information [Line Items]
Revenues	243,585	203,946
Operating income (loss)	61,923	31,112
Depreciation and amortization	$ 21,920	$ 23,641

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Future Minimum Payments for Purchase Obligations (Details) $ in Thousands	Mar. 31, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021	$ 404,484
2022	232,720
2023	183,005
2024	151,030
2025	154,986
2026	184,041
2027 and thereafter	754,025
Total future minimum payments	$ 2,064,291

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Millions	Sep. 23, 2019USD ($)
Frontline Case | Performance Guarantee
Loss Contingencies [Line Items]
Damages awarded	$ 135.2

SUBSEQUENT EVENT - Narrative (D

SUBSEQUENT EVENT - Narrative (Details) $ in Millions	May 04, 2021USD ($)
Subsequent Event | Zego
Subsequent Event [Line Items]
Payments to Acquire Businesses, Gross	$ 925