8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

April 20, 2010
Date of Report (Date of Earliest Event Reported)

Total System Services, Inc.

(Exact Name of Registrant as Specified in its Charter)

Georgia	1-10254	58-1493818
(State of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

One TSYS Way, Columbus, Georgia 31901

(Address of principal executive offices) (Zip Code)

(706) 649-2267

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02	Results of Operations and Financial Condition.
	On April 20, 2010, Total System Services, Inc. (“Registrant”) issued a press release announcing financial results for the first quarter ended March 31, 2010. The press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information in the press release shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934 or incorporated by reference into any document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934 except as shall be expressly set forth by specific reference in such filing.
Item 7.01	Regulation FD Disclosure.
	On April 20, 2010, Registrant will hold an investor conference call and webcast to discuss its financial results for the first quarter ended March 31, 2010. A copy of the presentation to be used during the conference call is attached hereto as Exhibit 99.2 and incorporated herein by reference. The information in the presentation shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934 or incorporated by reference into any document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934 except as shall be expressly set forth by specific reference in such filing.
Item 8.01	Other Events.
	On April 20, 2010, the Board of Directors of Registrant approved a stock repurchase plan to purchase up to 10 million shares of Registrant common stock, as more fully described in the press release attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01	Financial Statements and Exhibits.
	(d) Exhibits

Exhibit
No.	Description
99.1	Registrant’s press release dated April 20, 2010
99.2	Registrant’s presentation dated April 20, 2010

2

Signature

     Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, Registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TOTAL SYSTEM SERVICES, INC. (“Registrant”)
Dated: April 20, 2010	By:	/s/ Kathleen Moates
		Kathleen Moates
		Senior Deputy General Counsel

3

EX-99.1

Exhibit 99.1

PRESS RELEASE

Total System Services, Inc.
One TSYS Way
Post Office Box 2567
Columbus GA 31902-2567 +1.706.649.2307
+1.706.649.5740
www.tsys.com

For immediate release:

Contacts:

Shawn Roberts
TSYS Investor Relations
+1.706.644.6081
shawnroberts@tsys.com

TSYS Announces First Quarter 2010 Financial Results

Columbus, Ga., April 20, 2010 — TSYS (NYSE: TSS) today reported results for the first quarter of 2010. Total revenues were $415.4 million for an increase of 1.6% over 2009.

Income from continuing operations increased 3.1% to $51.8 million and net income was up 10.3% compared to 2009. Basic earnings per share (EPS) from continuing operations were $0.26.

As previously reported, TSYS completed its acquisition of 51% of Omaha, Nebraska-based First National Merchant Solutions, LLC (FNMS) on April 1, 2010. TSYS will consolidate this new entity in its financial statements in its Merchant Services segment for the remaining nine months of 2010. TSYS’ guidance for 2010 has been updated to reflect this acquisition. For 2010, it is expected that FNMS will contribute $95 to $97 million to TSYS’ total revenues; $2 to $3 million to net income, net of acquisition costs of approximately $2.5 million; and approximately $0.01 to basic earnings per share. While TSYS will consolidate and report all of FNMS’ revenues and expenses, it will report only 51% of FNMS’ net income.

“Our new FNMS joint venture is transformational for TSYS as it advances our goal to diversify our business from being just a transaction processor to being a full service payments company. FNMS is a “top-tier” merchant acquirer with a deep and talented pool of experienced management and team members that mirrors our TSYS culture,” said Philip W. Tomlinson, chairman of the board and chief executive officer of TSYS.

“With the economy showing signs of improvement for the first time in two years, we remain optimistic about our ability to achieve our original guidance for 2010, and are pleased to be able to raise it as a result of the FNMS joint venture,” added Tomlinson.

TSYS also announced today a new stock repurchase plan to purchase up to 10 million shares of TSYS stock. This equates to approximately $162 million of TSYS stock based on current market prices. The shares may be purchased from time to time over the next two years at prices considered attractive to the company.

TSYS’ revised guidance for 2010 is set forth below and includes the impact of deconverted portfolios (whether as the result of bank failures, portfolio sales or otherwise), price compression, reduction in one-time termination fees and currency impact, and the current economic environment of the credit card market.

Page 1 of 12

PRESS RELEASE

	2010 Revised Guidance
			Range
	(in millions, except per						Percent
	share amounts)						Change
Total revenues	$	1,711	to		$	1,745		1	%	to	3	%
Reimbursable items	$	279	to		$	284		3	%	to	5	%
Revenues before reimbursable items	$	1,432	to		$	1,461		1	%	to	3	%
Income from continuing operations	$	189	to		$	194		(14	%)	to	(12	%)
EPS from continuing operations available to TSYS common shareholders	$	0.96	to		$	0.98		(14	%)	to	(12	%)
Average Shares Outstanding				197.3

Conference Call

TSYS will host its quarterly conference call at 5:00 p.m. ET on Tuesday, April 20. The conference call can be accessed via simultaneous Internet broadcast at tsys.com by clicking on the link under “Webcasts” on the main homepage. The replay will be archived for 12 months and will be available approximately 30 minutes after the completion of the call. A slide presentation to accompany the call will be available by clicking on the link under “Webcasts” on the main homepage of tsys.com.

Non-GAAP Measures

The financial highlights section of this release contains the non-GAAP financial measures of revenues and operating results on a constant currency basis to describe TSYS’ performance. Management uses these non-GAAP financial measures to better understand and assess TSYS’ operating results and financial performance. TSYS believes these non-GAAP financial measures provide meaningful additional information about TSYS to assist investors in understanding and evaluating its operating results.

Additional information about non-GAAP financial measures and a reconciliation of those measures to the most directly comparable GAAP measures are included on page 11 of this release.

About TSYS

TSYS (NYSE: TSS) is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. For more information contact news@tsys.com or log on to www.tsys.com. TSYS routinely posts all important information on its Web site.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934 as amended by the Private Securities

Page 2 of 12

PRESS RELEASE

Litigation Reform Act of 1995. These forward-looking statements include, among others, statements regarding the expected impact of the FNMS joint venture on TSYS’ 2010 total revenues, net income and basic earnings per share, TSYS’ earnings guidance for 2010 total revenues, revenues before reimbursable items, income from continuing operations and EPS from continuing operations, and the assumptions underlying such statements including, with respect to TSYS’ earnings guidance for 2010: (1) the economy will not worsen during 2010; (2) there will be no deconversions of large clients during the year other than as previously announced; (3) there will be no significant movement in foreign currency exchange rates related to TSYS’ business during 2010; (4) the anticipated levels in employment, technology and other expenses, which are included in 2010 estimates, will be accomplished; (5) TSYS will not incur significant expenses associated with the conversion of new large clients or acquisitions, or any significant impairment of goodwill or other intangibles; and (6) there will be no significant movements in LIBOR, and no significant draws on the remaining balance of TSYS’ revolving credit facility. These statements are based on the current beliefs and expectations of TSYS’ management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by the forward-looking statements. A number of important factors could cause actual results to differ materially from those contemplated by our forward-looking statements in this press release. Many of these factors are beyond TSYS’ ability to control or predict. These factors include, but are not limited to: (1) one or more of the assumptions set forth above upon which TSYS’ 2010 earnings guidance is based is inaccurate; (2) adverse developments with respect to entering into contracts with new clients and retaining current clients; (3) continued consolidation and turmoil in the financial services and other industries during 2010, including the merger of TSYS clients with entities that are not TSYS processing clients, the sale of portfolios by TSYS clients to entities that are not TSYS processing clients and the nationalization or seizure by banking regulators of TSYS clients; (4) TSYS is unable to control expenses and increase market share both domestically and internationally; (5) TSYS is unable to manage the impact of slowing economic conditions and consumer spending; (6) the material breach of security of any of TSYS’ systems; (7) the impact of potential and completed acquisitions, including the costs associated therewith and their being more difficult to integrate than anticipated; (8) changes occur in laws, rules, regulations, credit card association rules or other industry standards affecting TSYS’ business which require significant product development efforts or reduce the market demand for or value of its products; (9) adverse developments with respect to the credit card industry in general, including a decline in the use of credit cards as a payment mechanism; and (10) internal growth rates of TSYS’ existing clients are lower than anticipated whether as a result of unemployment rates, card delinquencies and charge-off rates or otherwise. Additional factors that could cause actual results to differ materially from those contemplated in this release can be found in TSYS’ filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations. We do not assume any obligation to update any forward-looking statements as a result of new information , future developments or otherwise.

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TSYS Announces 2010 Earnings
Page 4 of 12

TSYS
Financial Highlights
(unaudited)
(in thousands, except per share data)

	Three Months Ended
	March 31,
							Percent
	2010			2009			Change
Total revenues	$	415,354			408,933			1.6	%
Cost of services		292,191			284,675			2.6
Selling, general and administrative expenses		44,092			46,143			(4.4	)
Operating income		79,071			78,115			1.2
Nonoperating expenses		(262	)		(1,459	)	nm
Income from continuing operations before income taxes, noncontrolling interests and equity in income of equity investments		78,809			76,656			2.8
Income taxes		27,883			27,415			1.7
Income from continuing operations before noncontrolling interests and equity in income of equity investments		50,926			49,241			3.4
Equity in income of equity investments		893			1,043			(14.4	)
Income from continuing operations, net of tax		51,819			50,284			3.1
Loss from discontinued operations, net of tax		—			(3,343	)	nm
Net income		51,819			46,941			10.4
Net income attributable to noncontrolling interests		(492	)		(415	)	nm
Net income attributable to TSYS common shareholders	$	51,327			46,526			10.3	%
Basic earnings per share:
Income from continuing operations to TSYS common shareholders	$	0.26			0.26			1.1	%
Loss from discontinued operations to TSYS common shareholders		0.00			(0.02	)	nm
Net income attributable to TSYS common shareholders	$	0.26			0.24			10.2	%
Diluted earnings per share:
Income from continuing operations to TSYS common shareholders	$	0.26			0.26			1.2	%
Loss from discontinued operations to TSYS common shareholders		0.00			(0.02	)	nm
Net income attributable to TSYS common shareholders	$	0.26			0.24			10.3	%
Dividends declared per share	$	0.07			0.07
Amounts attributable to TSYS common shareholders:
Income from continuing operations, net of tax	$	51,327			49,869
Loss from discontinued operations, net of tax		—			(3,343	)
Net income	$	51,327			46,526

nm = not meaningful

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TSYS Announces 2010 Earnings
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TSYS
Earnings Per Share
(unaudited)
(in thousands, except per share data)

	Three Months Ended					Three Months Ended
	March 31, 2010					March 31, 2009
	Common			Participating		Common			Participating
	Stock			Securities		Stock			Securities
Basic Earnings per share:
Net income	$	51,327					46,526
Less income allocated to nonvested awards		(264	)		264		(361	)		361
Net income allocated to common stock for EPS calculation ( a )	$	51,063			264		46,165			361
Average common shares outstanding ( b )		196,160			1,016		195,461			1,534
Average common shares and participating securities		197,176					196,995
Basic Earnings per share ( a )/( b )	$	0.26			0.26		0.24			0.24
Diluted Earnings per share:
Net income	$	51,327					46,526
Less income allocated to nonvested awards		(263	)		263		(360	)		360
Net income allocated to common stock for EPS calculation ( c )	$	51,064			263		46,166			360
Average common shares outstanding		196,160			1,016		195,461			1,534
Increase due to assumed issuance of shares related to common equivalent shares outstanding		86					67
Average common and common equivalent shares outstanding ( d )		196,246			1,016		195,528			1,534
Average common and common equivalent shares and participating securities		197,262					197,062
Diluted Earnings per share ( c )/( d )	$	0.26			0.26		0.24			0.24

In June 2008, the Financial Accounting Standards Board (FASB) issued an update to the Accounting Standards Codification 260 (ASC 260), “Earnings Per Share” and it became effective for TSYS beginning January 1, 2009. Under this standard, unvested awards of share-based payments with rights to receive dividends or dividend equivalents, such as our nonvested awards, are considered participating securities for purposes of calculating earnings per share (“EPS”). Under the two-class method required by ASC 260, a portion of net income is allocated to these participating securities and therefore is excluded from the calculation of EPS allocated to common stock, as shown in the table above. This update to ASC 260 requires retrospective applications for periods prior to the effective date and as a result, all prior period earnings per share data presented herein have been adjusted to conform to these provisions.

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TSYS Announces 2010 Earnings
Page 6 of 12

TSYS
Segment Breakdown
(unaudited)
(in thousands)

	Three Months Ended March 31,
							Change
	2010			2009			$			%
Revenues before reimbursable items
North America Services	$	215,309			223,782			(8,473	)		(3.8	)%
International Services		76,281			70,584			5,697			8.1	%
Merchant Services		58,663			58,206			457			0.8	%
Intersegment revenues		(5,702	)		(7,126	)		1,424			(20.0	)%
Revenues before reimbursable items from external customers	$	344,551			345,446			(895	)		(0.3	)%
Total revenues
North America Services	$	254,228			268,789			(14,561	)		(5.4	)%
International Services		79,392			73,802			5,590			7.6	%
Merchant Services		89,209			75,499			13,710			18.2	%
Intersegment revenues		(7,475	)		(9,157	)		1,682			(18.4	)%
Revenues from external customers	$	415,354			408,933			6,421			1.6	%
Depreciation and amortization
North America Services	$	20,403			23,230			(2,827	)		(12.2	)%
International Services		8,783			7,584			1,199			15.8	%
Merchant Services		8,585			8,087			498			6.2	%
Corporate Admin		793			577			216			37.4	%
Total depreciation and amortization	$	38,564			39,478			(914	)		(2.3	)%
Segment operating income
North America Services	$	69,788			71,494			(1,706	)		(2.4	)%
International Services		11,283			9,532			1,751			18.4	%
Merchant Services		17,325			15,519			1,806			11.6	%
Corporate Admin		(19,325	)		(18,430	)		(895	)		4.9	%
Operating income	$	79,071			78,115			956			1.2	%
Other:
Reimbursable items:
North America Services	$	38,919			45,007			(6,088	)		(13.5	)%
International Services		3,111			3,218			(107	)		(3.3	)%
Merchant Services		30,546			17,293			13,253			76.6	%
Intersegment revenues		(1,773	)		(2,031	)		258			(12.7	)%
Reimbursable items	$	70,803			63,487			7,316			11.5	%
Volumes:
FTEs
North America Services		4,519			5,056			(537	)		(10.6	)%
International Services		1,895			1,818			77			4.2	%
Merchant Services		705			836			(131	)		(15.7	)%
Corporate Admin		314			358			(44	)		(12.3	)%
FTEs		7,433			8,068			(635	)		(7.9	)%
North America Segment:
Accounts on File (AOF) (in millions)		283.1			303.2			(20.1	)		(6.6	)%
Transactions (in millions)		1,458.2			1,481.0			(22.8	)		(1.5	)%
International Segment:
AOF (in millions)		40.2			37.2			3.0			8.1	%
Transactions (in millions)		281.3			247.9			33.4			13.5	%
Merchant Segment:
POS Transactions (in millions)		1,320.3			1,226.1			94.2			7.7	%

	At						Change
Total assets (in thousands)	3/31/2010			12/31/2009			$			%
North America Services	$	1,582,743			1,535,129			47,614			3.1	%
International Services		374,072			379,606			(5,534	)		(1.5	)%
Merchant Services		217,625			215,855			1,770			0.8	%
Intersegment assets		(410,397	)		(419,636	)		9,239			(2.2	)%
Total assets	$	1,764,043			1,710,954			53,089			3.1	%

     Certain amounts have been reclassified to conform with the presentation adopted in 2010.

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TSYS Announces 2010 Earnings
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TSYS
Balance Sheet
(in thousands)

	Mar 31, 2010			Dec 31, 2009
	(unaudited)			(unaudited)
Assets
Current assets:
Cash and cash equivalents	$	534,487			449,955
Restricted cash		30,348			46,190
Accounts receivable, net		218,815			231,325
Deferred income tax assets		9,980			11,302
Prepaid expenses and other current assets		66,775			72,124
Total current assets		860,405			810,896
Property and equipment, net		302,995			289,198
Computer software, net		195,674			197,134
Contract acquisition costs, net		123,482			128,038
Goodwill		166,370			168,121
Equity investments, net		76,021			75,495
Other intangible assets, net		13,009			14,132
Other assets		26,087			27,940
Total assets	$	1,764,043			1,710,954
Liabilities
Current liabilities:
Current portion of notes payable	$	7,057			6,988
Accrued salaries and employee benefits		15,336			32,457
Accounts payable		29,249			21,729
Current portion of obligations under capital leases		9,817			6,289
Other current liabilities		167,191			153,316
Total current liabilities		228,650			220,779
Notes payable, excluding current portion		190,308			192,367
Deferred income tax liabilities		49,324			47,162
Obligations under capital leases, excluding current portion		36,327			12,756
Other long-term liabilities		44,507			48,443
Total liabilities		549,116			521,507
Equity
Shareholders’ equity:
Common stock		20,130			20,086
Additional paid-in capital		141,617			139,742
Accumulated other comprehensive income, net		(7,145	)		5,673
Treasury stock		(70,881	)		(69,950	)
Retained earnings		1,117,789			1,080,250
Total shareholders’ equity		1,201,510			1,175,801
Noncontrolling interests in consolidated subsidiaries		13,417			13,646
Total equity		1,214,927			1,189,447
Total liabilities and equity	$	1,764,043			1,710,954

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TSYS Announces 2010 Earnings
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TSYS
Cash Flow
(unaudited)
(in thousands)

	Three Months Ended March 31,
	2010			2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	51,819			46,941
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in income of equity investments		(893	)		(1,043	)
Net loss (gain) on currency translation adjustments		(247	)		883
Depreciation and amortization		38,564			39,850
Amortization of debt issuance costs		38			38
Share-based compensation		2,913			5,297
Excess tax benefit from share-based payment arrangements		(111	)		—
Provisions for bad debt expense and billing adjustments		(658	)		(394	)
Charges for transaction processing provisions		849			1,537
Deferred income tax benefit		3,665			(2,329	)
(Gain) loss on disposal of equipment, net		30			7
(Increase) decrease in:
Accounts receivable		9,874			1,166
Prepaid expenses, other current assets and other long-term assets		2,892			(1,743	)
Increase (decrease) in:
Accounts payable		8,319			(3,779	)
Accrued salaries and employee benefits		(32,707	)		(25,567	)
Other current liabilities and other long-term liabilities		49,188			37,806
Net cash provided by operating activities		133,535			98,670
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment, net		(9,170	)		(2,181	)
Additions to licensed computer software from vendors		(3,769	)		(5,932	)
Additions to internally developed computer software		(5,760	)		(5,828	)
Cash used in acquisitions, net of cash acquired		—			(205	)
Additions to contract acquisition costs		(9,914	)		(10,992	)
Net cash used in investing activities		(28,613	)		(25,138	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings of long-term debt		—			2,809
Principal payments on long-term debt borrowings and capital lease obligations		(3,731	)		(3,622	)
Proceeds from exercise of stock options		109			—
Excess tax benefit from share-based payment arrangements		111			—
Repurchase of common stock		(1,075	)		(329	)
Dividends paid on common stock		(13,797	)		(13,779	)
Net cash used in financing activities		(18,383	)		(14,921	)
CASH AND CASH EQUIVALENTS:
Effect of exchange rate changes on cash and cash equivalents		(2,007	)		(1,084	)
Net increase in cash and cash equivalents		84,532			57,527
Cash and cash equivalents at beginning of period		449,955			220,018
Cash and cash equivalents at end of period	$	534,487			277,545

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TSYS Announces 2010 Earnings
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Supplemental Information:

	Accounts on File at March 31,
(in millions)	2010		%			2009		%			Percent Change
Consumer		182.2		56.3	%		186.5		54.8	%		(2.3)	%
Commercial		44.1		13.6			44.4		13.0			(0.8	)
Stored Value		40.9		12.7			26.0		7.6			57.2
Government services		26.3		8.1			21.7		6.4			21.2
Retail		24.4		7.6			56.5		16.6			(56.7	)
Debit		5.1		1.6			5.2		1.5			(2.9	)
Healthcare		0.3		0.1			0.1		0.1		nm
		323.3		100.0	%		340.4		100.0	%		(5.0)	%

Growth in Accounts on File (in millions):

	March 2009 to			March 2008 to
	March 2010			March 2009
Beginning balance		340.4			364.9
Change in accounts on file due to:
Internal growth of existing clients		24.4			32.0
New clients		29.1			20.0
Purges/Sales		(43.4	)		(35.9	)
Deconversions		(27.2	)		(40.6	)
Ending balance		323.3			340.4

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TSYS Announces 2010 Earnings
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TSYS

Cost of Services/Selling, General and Administrative Expenses by Quarter in 2009
(unaudited)
(in thousands)

	Three Months Ended
	Mar 31,		Jun 30,		Sep 30,		Dec 31,		YTD
	2009		2009		2009		2009		2009
Total revenues	$	408,933		411,993		432,296		434,840	$	1,688,062
Cost of services		284,675		280,111		297,509		296,461		1,158,756
Selling, general and administrative expenses		46,143		49,105		46,931		45,094		187,273
Operating income	$	78,115		82,777		87,856		93,285	$	342,033

TSYS

Segments by Quarter in 2009 Recast for Corporate Administration Segment
(unaudited)
(in thousands, except FTE data)

	Three Months Ended
	Mar 31,			Jun 30,			Sep 30,			Dec 31,			YTD
	2009			2009			2009			2009			2009
Depreciation and amortization
North America Services	$	23,230			20,799			20,189			20,359		$	84,577
International Services		7,584			8,596			10,043			9,324			35,547
Merchant Services		8,087			8,149			8,159			8,469			32,864
Corporate Admin		577			749			803			805			2,934
Total depreciation and amortization	$	39,478			38,293			39,194			38,957		$	155,922
Segment operating income
North America Services	$	71,494			70,559			72,172			71,184		$	285,409
International Services		9,532			12,836			14,047			21,240			57,655
Merchant Services		15,519			16,690			18,909			18,964			70,082
Corporate Admin		(18,430	)		(17,308	)		(17,272	)		(18,103	)		(71,113	)
Operating income	$	78,115			82,777			87,856			93,285		$	342,033
Reimbursable items:
North America Services	$	45,007			42,035			41,671			39,551		$	168,264
International Services		3,218			3,150			3,606			5,087			15,061
Merchant Services		17,293			18,185			30,028			29,288			94,794
Intersegment eliminations		(2,031	)		(2,098	)		(1,975	)		(1,837	)		(7,941	)
Reimbursable items	$	63,487			61,272			73,330			72,089		$	270,178
FTEs
North America Services		5,056			4,956			4,749			4,727
International Services		1,818			1,855			1,872			1,805
Merchant Services		836			832			763			762
Corporate Admin		358			358			336			326
FTEs
		8,068			8,001			7,720			7,620

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TSYS Announces 2010 Earnings
Page 11 of 12

Reconciliation of GAAP to Non-GAAP

Non-GAAP Measures

     The schedule below provides a reconciliation of revenues and operating results on a constant currency basis to reported revenues and operating income. This non-GAAP measure presents year-to-date 2010 financial results using the previous year’s foreign currency exchange rates. On a year-to-date constant currency basis, TSYS’ total revenues grew 0.1% as compared to a reported GAAP increase of 1.6%, and operating income increased 0.2% versus a GAAP-reported increase of 1.2%.

     The non-GAAP financial measures of constant currency presented by TSYS are utilized by management to better understand and assess TSYS’ operating results and financial performance. TSYS also uses the non-GAAP financial measures to evaluate and assess TSYS’ financial performance against budget, as well as to evaluate financial performance for executive and management compensation purposes.

     TSYS believes that non-GAAP financial measures are important to enable investors to understand and evaluate its ongoing operating results. Accordingly, TSYS includes non-GAAP financial measures when reporting its financial results to shareholders and investors in order to provide them with an additional tool to evaluate TSYS’ ongoing business operations. TSYS believes that the non-GAAP financial measures are representative of comparative financial performance that reflects the economic substance of TSYS’ current and ongoing business operations.

     Although non-GAAP financial measures are often used to measure TSYS’ operating results and assess its financial performance, they are not necessarily comparable to similarly titled captions of other companies due to potential inconsistencies in the method of calculation.

     TSYS believes that its use of non-GAAP financial measures provides investors with the same key financial performance indicators that are utilized by management to assess TSYS’ operating results, evaluate the business and make operational decisions on a prospective, going-forward basis. Hence, management provides disclosure of non-GAAP financial measures to give shareholders and potential investors an opportunity to see TSYS as viewed by management, to assess TSYS with some of the same tools that management utilizes internally and to be able to compare such information with prior periods. TSYS believes that the presentation of GAAP financial measures alone would not provide its shareholders and potential investors with the ability to appropriately analyze its ongoing operational results, and therefore expected future results. TSYS therefore believes that inclusion of non-GAAP financial measures provides investors with additional information to help them better understand its financial statements just as management utilizes these non-GAAP financial measures to better understand the business, manage budgets and allocate resources.

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TSYS Announces 2010 Earnings
Page 12 of 12

Reconciliation of GAAP to Non-GAAP

Constant Currency Comparison
(unaudited)
(in thousands)

	Three Months Ended March 31,
					Percent
	2010		2009		Change
Consolidated
Constant currency (1)	$	409,520		408,933		0.1	%
Foreign currency (2)		5,834		—		1.5
Total revenues	$	415,354		408,933		1.6	%
Constant currency (1)	$	78,247		78,115		0.2	%
Foreign currency (2)		824		—		1.0
Operating income	$	79,071		78,115		1.2	%

(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.

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EX-99.2

Exhibit 99.2

2010 First Quarter Results April 20, 2010

Forward-Looking Statements 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," "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' 2009 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. TSYS does not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise.

Use of Non-GAAP Financial Measures 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: operating margin excluding reimbursable items, revenues measured on a constant currency basis, free cash flow and EBITDA. The most comparable GAAP measures to these measures are operating margin, revenues, cash flows from operating activities and net income, 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.

Agenda Phil Tomlinson, Chairman and CEO Jim Lipham, Chief Financial Officer Financial Highlights Revised Guidance Q&A

Phil Tomlinson Chairman and Chief Executive Officer

Jim Lipham Chief Financial Officer

Changes for 2010 Statement of Income Format Cost of Services SG&A Operating Segments New Corporate Administration Segment Added

Consolidated Selected Financial Highlights

2010 Revenue Change Revenues Before Reimbursable Items 2% (5)% 0% 5% 10% (0.3%) Reported (6%) 2010 YTD vs. 2009 YTD New Clients (10)% 2% Currency Internal Growth 2% Lost Business, Non-recurring Items, and Price Compression

Account on File Portfolio Summary Portfolio Summary Portfolio Summary

North America 1Q 2010 Year Over Year Segment Financial Highlights Revenues of $254.2M Operating income of $69.8M Operating margin of 27.5% Operating margin excluding reimbursable items of 32.4% Same client transactions were 1,445.4 million, increase of 4.5% Key Drivers ($32.2M) revenues associated with deconverted clients or lost business One-time nonrecurring deconversion fee in revenues Severance Maintained operating margin Operating margin excluding reimbursable items increased 46 basis points Volumes FTEs 4,500 Accounts on file were 283.1M Total cardholder transactions were 1,458.2 million, a decrease of 1.5%

1Q 2010 Year Over Year Segment Financial Highlights International Revenues of $79.4M Constant currency basis, revenues were $73.5M Operating income of $11.3M Operating margin of 14.2% Operating margin excluding reimbursable items of 14.8% Same client transactions were 252.5M, an increase of 2.8% Key Drivers Positive currency impact on revenues of $5.9M Revenue growth flat on a constant currency basis Operating margin excluding reimbursable items increased 129 basis points Volumes FTEs 1,900 Accounts on file were 40.2M Total cardholder transactions were 281.3M, an increase of 13.5%

1Q 2010 Year Over Year Segment Financial Highlights Merchant Revenues of $89.2M Operating income of $17.3M Operating margin of 19.4% Operating margin excluding reimbursable items of 29.5% Key Drivers Flat internal growth New clients offsetting lost clients Acquisition of FNMS starts in second quarter Operating margin excluding reimbursable items increased 287 basis points Volumes FTEs 700 Point-of-sale transactions were 1.3 billion, an increase of 7.7%

First National Merchant Solutions Closed transaction on April 1, 2010 Impacts Merchant Services segment beginning 2nd Qtr Expected to add $95-$97 million in revenues Net of acquisition costs, expected to add $2 to $3 million in net income Operating margin, excluding amortization of acquisition intangibles, ranges between 26% to 29% TSYS owns 51%; 49% noncontrolling interest Average ticket size is not expected to change from 2009 Expecting only slight transaction growth in 2010

Corporate Administration Operating expenses of $19.3M 1Q 2010 Year Over Year Segment Financial Highlights Key Drivers Contains costs associated with corporate administrative functions Executive, finance, legal, human resources Mergers & acquisitions Increased $0.9M over last year Includes $1.2M of acquisition costs recorded in the 1st Qtr for FNMS Volumes FTEs 300

9/31/2008 9/30/2009 Mar 10 TTM EBITDA 278.906 333.056 498 Cash flow from operations 175.202 249.925 457.317 Free cash flow 183.772 154.999 333.744 Net income 224 2010 TTM Consolidated Financial Highlights (dollars in millions) TTM = Trailing Twelve Months

2010 Revised Guidance

2010 Revised Guidance A list of the assumptions underlying the 2010 guidance is included in the Appendix.

Jim Lipham Chief Financial Officer

Q&A

Appendix Non-GAAP Reconciliation - Revenues Before Reimbursable Items

Appendix Non-GAAP Reconciliation - Segment Operating Margin Excluding Reimbursable Items

Appendix Non-GAAP Reconciliation - Constant Currency

Appendix Non-GAAP Reconciliation - EBITDA

Appendix Non-GAAP Reconciliation - Free Cash Flow

Appendix List of Assumptions 2010 Guidance The economy will not worsen during 2010; there will be no deconversions of large clients during the year other than as previously announced; there will be no significant movement in foreign currency exchange rates related to TSYS' business during 2010; the anticipated levels in employment, technology and other expenses, which are included in 2010 estimates, will be accomplished; TSYS will not incur significant expenses associated with the conversion of new large clients or acquisitions, or any significant impairment of goodwill or other intangibles; and there will be no significant movements in LIBOR, and no significant draws on the remaining balance of TSYS' revolving credit facility.