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Noncontrolling Interests
12 Months Ended
May 31, 2011
Noncontrolling Interests  
Noncontrolling Interests

NOTE 11—NONCONTROLLING INTERESTS

 

Effective June 1, 2010, we adopted the FASB guidance on noncontrolling interests. The following table details the components of redeemable noncontrolling interests for the fiscal years ended 2011 and 2010:

 

     2011     2010  
     (in thousands)  

Beginning balance

   $ 102,672      $ 399,377   

Acquisition of redeemable noncontrolling interest

     —          (307,675

Net income attributable to redeemable noncontrolling interests

     9,592        7,763   

Distributions to redeemable noncontrolling interest

     —          (11,896

Foreign currency translation adjustments

     (10,826     —     

Increase in fair value of redeemable noncontrolling interests

     32,420        15,103   
                

Ending balance

   $ 133,858      $ 102,672   
                

 

For the fiscal years ended 2011, 2010 and 2009, net income included in the consolidated statements of changes in shareholders' equity is reconciled to net income presented in the consolidated statements of income as follows:

 

    2011     2010     2009  
    (in thousands)  

Net income attributable to Global Payments

  $ 209,238      $ 203,317      $ 37,217   

Net income attributable to nonredeemable noncontrolling interests

    9,326        8,029        7,471   
                       

Subtotal

    218,564        211,346        44,688   

Net income attributable to redeemable noncontrolling interest

    9,592        7,763        29,490   
                       

Net income including noncontrolling interest

  $ 228,156      $ 219,109      $ 74,178