![]() ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 2015 Second Quarter and YTD Results July 28, 2015 Exhibit 99.2 |
![]() ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 2015 Second Quarter and YTD Results This presentation and comments made by management contain forward-looking statements including, among others, statements regarding the expected future operating results of TSYS. These statements are based on management’s current expectations and assumptions and are subject to risks, uncertainties and changes in circumstances. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “potential,” “estimate” or similar expressions. Actual results may differ materially from those set forth in the forward-looking statements due to a variety of factors. More information about these risks, uncertainties and factors may be found in TSYS’ filings with the Securities and Exchange Commission, including its 2014 Annual Report on Form 10-K. TSYS does not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise. 2 > FORWARD-LOOKING STATEMENTS 2 |
![]() ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 2015 Second Quarter and YTD Results This slide presentation contains certain non-GAAP financial measures determined by methods other than in accordance with generally accepted accounting principles. Such non-GAAP financial measures include the following: revenues before reimbursable items; operating margin excluding reimbursable items; revenues measured on a constant currency basis; free cash flow; EBITDA, adjusted EBITDA, adjusted earnings per share, adjusted segment operating income and adjusted segment operating margin. The most comparable GAAP measures to these measures are revenues; operating margin; revenues; cash flows from operating activities; net income; net income; earnings per share, operating income and operating margin, respectively. Management uses these non-GAAP financial measures to assess the performance of TSYS’ core business. TSYS believes that these non-GAAP financial measures provide meaningful additional information about TSYS to assist investors in evaluating TSYS’ operating results. These non-GAAP financial measures should not be considered as a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures of other companies. The computations of the non-GAAP financial measures used in this slide presentation are set forth in the Appendix to this slide presentation. 3 > USE OF NON-GAAP FINANCIAL MEASURES 3 |
![]() ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 4 Troy Woods Chairman, President & Chief Executive Officer 4 |
![]() ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 5 Paul Todd Chief Financial Officer 5 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 6 (*) Adjusted EBITDA, Adjusted EBITDA margin and Adjusted EPS definitions are contained in Appendix > CONSOLIDATED SELECTED FINANCIAL HIGHLIGHTS $692,652 $602,036 15.1 Total Revenues $1,354,808 $1,194,883 13.4% 622,084 538,067 15.6 Revenues Before Reimbursable Items 1,217,868 1,070,818 13.7 206,537 170,894 20.9 Adjusted EBITDA* 399,991 320,489 24.8 $0.58 $0.45 29.0 Adjusted EPS* from Continuing Operations $1.11 $0.83 34.6 (in thousands, except per share data) 2 Qtr 2015 2 Qtr 2014 Percent Change YTD 2015 YTD 2014 Percent Change 6 nd nd |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 7 Double digit organic revenue growth Strong cross segment delivery of performance Volume gains: AOF increased 31.2% All-time AOF high of 751M Issuer transactions increased 43.0% GDV up 19.5% Expanding consolidated margins ($ in millions) (*) Revenues Before Reimbursable Items ($ in millions) 32.3% 37.3% 31.6% Adjusted Operating Income Operating Margin* 34.2% 8.5% 8.4% 11.8% > 2Q 2015 CONSOLIDATED HIGHLIGHTS 15.6% 7 45% 13% 19% 23% Revenue by Segment* North America International Merchant NetSpend $509.5 $525.3 $532.8 $538.1 $552.9 $569.3 $595.8 $622.1 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 Consolidated Revenue* YOY Growth % $146.3 $145.2 $113.9 $134.2 $159.8 $154.7 $154.5 $165.5 28.7% 27.6% 21.4% 24.9% 28.9% 27.2% 25.9% 26.6% 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 8 All-time quarterly highs Revenue and operating income Accounts on file up 32.8% to 677.5M Traditional AOF up 46.3% to 405.4M Transactions increased 49.9% to 4.0B 461.4 481.9 495.5 510.3 541.4 550.0 653.2 677.5 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 Accounts on File YOY Growth % (in millions) 16.2% 16.5% 11.6% 13.4% 17.2% 17.1% 18.5% 19.1% 17.4% 18.1% 14.1% 16.6% 31.8% 49.4% ($ in millions) (*) Revenues Before Reimbursable Items $217.3 $223.3 $224.4 $233.2 $241.0 $255.5 $266.2 $287.2 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 Segment Revenue* YOY Growth % ($ in millions) 4.5% 6.8% Adjusted Segment Operating Income Operating Margin* 9.1% 8.7% 10.9% 14.5% 18.7% > 2Q 2015 NORTH AMERICA SEGMENT HIGHLIGHTS ( ) Growth Excluding Prepaid, Government Services and Single Use Accounts 32.8% 46.3% 23.1% 8 $84.4 $87.1 $74.6 $84.6 $92.7 $99.6 $102.6 $108.4 38.9% 39.0% 33.2% 36.3% 38.5% 39.0% 38.5% 37.7% 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 9 Continued positive constant currency revenue growth trend Accounts on file increased 18.5% to 73.9M Transactions increased 10.0% to 613.9M Continued solid YOY growth in operating margin 59.2 59.1 60.7 62.3 64.1 66.6 70.5 73.9 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 Accounts on File YOY Growth % (in millions) 12.1% 8.5% 8.9% 7.5% 8.1% 12.7% 16.1% Adjusted Segment Operating Income Operating Margin* $77.9 $90.6 $76.8 $84.7 $87.4 $92.9 $73.7 $83.9 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 Segment Revenue* YOY Growth % ($ in millions) Reported Constant Currency (*) Revenues Before Reimbursable Items ($ in millions) 0.7% 3.1% 9.0% 8.6% 0.5% (4.6%) 10.6% 1.8% 12.2% 4.4% 2.5% 5.7% (4.0%) 5.1% > 2Q 2015 INTERNATIONAL SEGMENT HIGHLIGHTS 18.5% (1.0%) 9.4% 9 $9.5 $18.0 $4.6 $11.7 $16.0 $22.8 $7.0 $13.4 12.2% 19.9% 5.9% 13.9% 18.3% 24.6% 9.5% 15.9% 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 |
![]() $51 $48 $45 $46 $50 $44 $43 $46 $63 $62 $59 $62 $65 $64 $67 $71 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 Indirect Direct 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 10 Revenue up 8.8% and operating margin up 416 bps YOY Revenue mix: 61% Direct; 39% Indirect SBS Sales Volume at $6.3B, up 10% YOY POS transactions increased 8.1%, excluding deconverted accounts $113.6 $110.4 $104.6 $108.3 $115.0 $107.7 $110.4 $117.9 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 Segment Revenue* YOY Growth % (*) Revenues Before Reimbursable Items ($ in millions) 5.4% 4.3% $40.8 $36.0 $30.2 $32.9 $40.4 $31.4 $34.1 $40.7 35.9% 32.6% 28.8% 30.4% 35.1% 29.2% 30.9% 34.5% 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 Adjusted Segment Operating Income Operating Margin* ($ in millions) (4.3%) (4.1%) 1.2% (2.4%) 5.5% > 2Q 2015 MERCHANT SEGMENT HIGHLIGHTS Segment Revenue by LOB YOY Growth % 26% 22% (12%) (12%) ($ in millions) 4% (14%) 1% (10%) 4% (2%) (9%) 3% (4%) 13% 8.8% 16% (0%) 10 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 11 Gross Dollar Volume (GDV) up 19.5% Total active cards at 3.9M, up 14.7% Direct deposit active cards at 1.9M, up 17.4% Extended relationship with MetaBank for 5 years Diversification of our issuing bank relationships $3.8 $4.0 $6.6 $4.6 $4.4 $4.7 $7.7 $5.5 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 21.5% 22.1% 17.2% 16.6% 18.2% 16.7% ($ in billions) 22.4% Gross Dollar Volume YOY Growth % $103.7 $104.1 $132.6 $116.8 $114.0 $119.2 $155.1 $141.6 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 22.2% 16.1% 13.1% 11.4% 10.0% 14.4% 16.9% 21.2% Adjusted Segment Operating Income Operating Margin Segment Revenue YOY Growth % ($ in millions) ($ in millions) $34.6 $31.7 $28.7 $30.7 $36.1 $32.7 $35.5 $36.4 33.4% 30.5% 21.7% 26.3% 31.7% 27.5% 22.9% 25.7% 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 > 2Q 2015 NETSPEND SEGMENT HIGHLIGHTS 19.5% 11 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 12 > SEGMENT OPERATING MARGIN AND CONSOLIDATED ADJUSTED OPERATING MARGIN Revenues before Reimbursable Items Adjusted Operating Margin Adjusted Segment Operating Income North America $108,385 $287,199 37.74% International 13,353 83,857 15.92% Merchant 40,690 117,868 34.52% NetSpend 36,442 141,621 25.73% Eliminations -- (8,461) Corporate administration excluding stock comp (33,386) -- Adjusted operating margin $165,484 $622,084 26.60% Amortization of acquisition intangibles (22,852) Share-based compensation (12,030) Operating income (US GAAP) $130,602 (in thousands) Three Months Ended June 30, 2015 12 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 13 > SEGMENT OPERATING MARGIN AND CONSOLIDATED ADJUSTED OPERATING MARGIN Revenues before Reimbursable Items Adjusted Operating Margin Adjusted Segment Operating Income North America $210,956 $553,418 38.12% International 20,336 157,587 12.90% Merchant 74,805 228,266 32.77% NetSpend 71,909 296,695 24.24% Eliminations -- (18,098) Corporate administration excluding stock comp (58,017) -- Adjusted operating margin $319,989 $1,217,868 26.27% Amortization of acquisition intangibles (46,718) Stock-based compensation (20,173) Operating income (US GAAP) $253,098 (in thousands) Six Months Ended June 30, 2015 13 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 14 > ROLLFORWARD OF QUARTERLY CASH BALANCE $200 $500 $100 $0 $300 Operating Activities $127 Cap Ex ($53) Debt Pmts ($11) Dividends ($19) Ending Balance $349 (in millions) 3/31/2015 6/30/2015 $400 Share Repurchase ($29) Beginning Balance $328 Other $6 14 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 15 > CASH FLOW STRENGTH: 2015 TTM Consolidated Financial Highlights (in millions) $792 $606 $379 $329 $349 $0 $75 $150 $225 $300 $375 $450 $525 $600 $675 $750 $825 $900 Adjusted EBITDA Cash flow from operations Free cash flow Net income Ending cash (TTM = Trailing Twelve Months) 15 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. Range Range Percent Change $2,667 to $2,716 9% to 11% Before Reimbursable Items $2,412 to $2,456 10% to 12% EPS attributable to TSYS common from continuing operations $2.25 to $2.29 15% to 17% Basic Weighted Shares 184 (in millions, except per share data) (*) See Appendix for guidance assumptions 16 > 2015 REVISED GUIDANCE* 16 |
![]() ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 17 Q&A 17 |
![]() ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 18 Appendix 18 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 19 > APPENDIX: Non-GAAP Items – Adjusted EBITDA and Adjusted EPS 19 Adjusted EBITDA is net income excluding equity in income of equity investments, nonoperating income/(expense), taxes, depreciation, amortization and stock-based compensation expenses and NetSpend merger & acquisition expenses. Adjusted EPS is adjusted earnings divided by weighted average shares outstanding used for basic EPS calculations. Adjusted earnings is net income excluding the after-tax impact of stock-based compensation expenses, amortization of acquisition intangibles, and NetSpend merger & acquisition expenses. Adjusted segment operating income is operating income at the segment level adjusted for amortization of acquisition intangibles. Adjusted segment operating margin is adjusted segment operating income divided by segment revenues before reimbursable items. The Company believes that these non-GAAP financial measures it presents are useful to investors in evaluating the Company’s operating performance for the following reasons: – adjusted EBITDA and adjusted EPS are widely used by investors to measure a company’s operating performance without regard to items, such as interest expense, income tax expense, depreciation and amortization, merger and acquisition expenses and employee stock-based compensation expense that can vary substantially from company to company depending upon their respective financing structures and accounting policies, the book values of their assets, their capital structures and the methods by which their assets were acquired; and – securities analysts use adjusted EBITDA and adjusted EPS as supplemental measures to evaluate the overall operating performance of companies. By comparing the Company’s adjusted EBITDA and adjusted EPS in different historical periods, investors can evaluate the Company’s operating results without the additional variations caused by employee stock-based compensation expense, which may not be comparable from period to period due to changes in the fair market value of the Company’s common stock (which is influenced by external factors like the volatility of public markets and the financial performance of the Company’s peers) and is not a key measure of the Company’s operations. The Company’s management uses the non-GAAP financial measures: – as measures of operating performance, because they exclude the impact of items not directly resulting from the Company’s core operations; – for planning purposes, including the preparation of the Company’s annual operating budget; – to allocate resources to enhance the financial performance of the Company’s business; – to evaluate the effectiveness of the Company’s business strategies; and – in communications with the Company’s board of directors concerning the Company’s financial performance. |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 20 Consumer Credit 374.1 246.5 51.8 374.1 364.5 2.6 Retail 26.4 27.9 (5.6 ) 26.4 28.3 (6.7 Total Consumer 400.5 274.4 45.9 400.5 392.8 2.0 Commercial 44.0 40.4 8.7 44.0 42.3 3.8 Other 24.0 20.4 18.4 24.0 22.7 6.3 Subtotal 468.5 335.2 39.8 468.5 457.8 2.3 Prepaid*/ Stored Value 133.1 117.7 13.2 133.1 126.6 5.2 Government Services 77.1 65.6 17.4 77.1 74.5 3.5 Commercial Card Single Use 72.7 54.2 34.2 72.7 64.8 12.1 Total AOF 751.4 572.7 31.2 751.4 723.7 3.8 (in millions) Jun 2015 Jun 2015 Jun 2014 Jun 2014 % Change % Change Jun 2015 Jun 2015 Mar 2015 Mar 2015 % Change % Change (* - Prepaid does not include NetSpend accounts) > APPENDIX: Accounts on File Portfolio Summary 20 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 21 > APPENDIX: Non-GAAP Reconciliation – Revenues Before Reimbursable Items Three Months Ended Six Months Ended 6/30/15 6/30/14 6/30/15 6/30/14 Revenues $692,652 $602,036 $1,354,808 $1,194,883 Items 70,568 63,969 136,940 124,065 Before Reimbursable Items $622,084 $538,067 $1,217,868 $1,070,818 (in thousands) 21 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 22 > APPENDIX: Non-GAAP Reconciliation – Adjusted Segment Operating Income and Operating Margin Three Months Ended Six Months Ended 6/30/15 6/30/14 6/30/15 6/30/14 (in thousands) 22 Operating income $130,602 $98,763 $253,098 $179,460 Add: Acquisition intangible amort 22,852 24,282 46,718 48,595 Add: Corporate admin and other 45,416 36,875 78,190 69,883 Total segment adjusted operating income $198,870 $159,920 $378,006 $297,938 By segment: North America services (a) $108,385 $84,578 $210,956 $159,155 International services (b) $13,353 $11,743 $20,336 $16,298 Merchant services (c) $40,690 $32,896 $74,805 $63,064 NetSpend (d) $36,442 $30,703 $71,909 $59,421 Total revenues $692,652 $602,036 $1,354,808 $1,194,883 Reimbursable items (70,568) (63,969) (136,940) (124,065) Total segment revenues before reimbursable items $622,084 $538,067 $1,217,868 $1,070,818 Intersegment revenues 8,461 5,050 18,098 10,705 By segment: North America services (e) $287,199 $233,217 $553,418 $457,585 International services (f) $83,857 $84,732 $157,587 $161,505 Merchant services (g) $117,868 $108,335 $228,266 $212,960 NetSpend (h) $141,621 $116,833 $296,695 $249,473 Adjusted segment operating margin: North America services (a) / (e) 37.74% 36.27% 38.12% 34.78% International services (b) / (f) 15.92% 13.86% 12.90% 10.09% Merchant services (c) / (g) 34.52% 30.37% 32.77% 29.61% NetSpend (d) / (h) 25.73% 26.28% 24.24% 23.82% |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 23 (1) Reflects current period results on a non-GAAP basis as if foreign currency rates did not change from the comparable prior year period. (2) Reflects the impact of calculated changes in foreign currency rates from the comparable period. > APPENDIX: Non-GAAP Reconciliation – Constant Currency Six Months Ended 6/30/15 6/30/14 Percentage Change Three Months Ended 6/30/15 6/30/14 Percentage Change (in thousands) 23 Consolidated: Constant Currency (1) $702,191 $602,036 16.6 $1,372,054 $1,194,883 14.8 Foreign Currency (2) (9,539) --- (17,246 --- Total Revenues $692,652 $602,036 15.1 $1,354,808 $1,194,883 13.4 International Services: Constant Currency (1) $99,076 $90,466 9.5 $186,456 $172,844 7.9 Foreign Currency (2) (9,458) --- (17,036 --- Total Revenues $89,618 $90,466 (0.9 $169,420 $172,844 (2.0 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 24 (1) Reflects current period results on a non-GAAP basis as if foreign currency rates did not change from the comparable prior year period. (2) Reflects the impact of calculated changes in foreign currency rates from the comparable period. > APPENDIX: Non-GAAP Reconciliation – Constant Currency Six Months Ended 6/30/15 6/30/14 Percentage Change Three Months Ended 6/30/15 6/30/14 Percentage Change (in thousands) 24 Consolidated: Constant Currency (1) $631,025 $538,067 17.3 $1,233,927 $1,070,818 15.2 Foreign Currency (2) (8,941) --- (16,059 --- Revenues before reimbursable items $622,084 $538,067 15.6 $1,217,868 $1,070,818 13.7 International Services: Constant Currency (1) $92,717 $84,732 9.4 $173,436 $161,505 7.4 Foreign Currency (2) (8,860) --- (15,849 --- Revenues before Reimbursable Items $83,857 $84,732 (1.0 $157,587 $161,505 (2.4 |
![]() > APPENDIX: Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 25 (in thousands) 25 Three Months Ended Six Months Ended Jun 2015 Jun 2014 Jun 2015 Jun 2014 Net income : As reported (GAAP) (a) $83,375 $111,340 $162,274 $162,965 Adjusted for: Deduct: Income from discontinued operations -- (50,133 -- (51,113) Deduct: Equity in Income of Equity Investments (4,579) (3,600 (9,973 (7,696) Add: Income Taxes 41,597 30,771 81,379 55,106 Add: Nonoperating expenses 10,209 10,385 19,418 20,198 Add: Depreciation and amortization 63,905 60,961 126,720 120,995 EBITDA $194,507 $159,724 $379,818 $300,455 Adjust for: Add: Share-based compensation 12,030 9,988 20,173 17,599 Add: NetSpend M&A expenses -- 1,182 -- 2,435 Adjusted EBITDA $206,537 $170,894 $399,991 $320,489 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 26 > APPENDIX: Non-GAAP Reconciliation – Adjusted EPS (in thousands) 26 Three Months Ended Six Months Ended Jun 2015 Jun 2014 Jun 2015 Jun 2014 Income from continuing operations available to TSYS Common Shareholders: As reported (GAAP) (a) $82,839 $59,771 $160,594 $109,092 Adjusted for amounts attributable to TSYS common shareholders (net of taxes): Acquisition intangible amortization 15,083 15,799 30,844 31,612 Share-based compensation 8,033 6,584 13,474 11,601 NetSpend M&A expenses -- 1,122 -- 2,326 Adjusted earnings (b) $105,955 $83,276 $204,912 $154,631 Average common shares outstanding and participating securities (c) 183,829 186,373 184,153 187,058 Basic EPS Available to TSYS Common Shareholders (a) / (c) $0.45 $0.32 $0.87 $0.58 Adjusted EPS Available to TSYS Common Shareholders (b) / (c) $0.58 $0.45 $1.11 $0.83 |
![]() 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 27 Trailing Twelve Months Ended 6/30/2015 flows from operating activities $606,052 Purchases of property and equipment (61,215) Additions to licensed computer software from vendors (35,042) Additions to internally developed computer software (41,100) Additions to contract acquisition costs (89,343) cash flow $379,352 (in thousands) > APPENDIX: Non-GAAP Reconciliation – Free Cash Flow 27 |
![]() > APPENDIX: Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA 2015 Second Quarter and YTD Results ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 28 Trailing Twelve Months Ended 6/30/2015 Net Income $328,714 Adjusted for: Add: Discontinued operations 2,458 Deduct: Equity in Income of Equity Investments (19,860) Add: Income Taxes 156,033 Add: Nonoperating expense 37,931 Add: Depreciation and Amortization 252,346 EBITDA $757,623 Adjust for: Share-based compensation 33,364 NetSpend M&A Operating Expenses* 782 Adjusted EBITDA $791,769 (in thousands) * Excludes share-based compensation 28 |
![]() > APPENDIX: 2015 Revised Guidance Assumptions ©2015 Total System Services, Inc.® Proprietary. All rights reserved worldwide. 29 The revised guidance assumes: There will be no significant movements in the London Interbank Offered rate and TSYS will not make any significant draws on the remaining balance of its credit facility; There will be no significant movement in foreign currency exchange rates related to TSYS’ business; TSYS will not incur significant expenses associated with the conversion of new large clients, additional acquisitions, or any significant impairment of goodwill or other intangibles; There will be no deconversions of large clients during the year; and The economy will not worsen. Additionally, the impact of any future share repurchases is not included. 2015 Second Quarter and YTD Results |