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Acquisitions (Tables)
9 Months Ended
Sep. 30, 2016
Business Combinations [Abstract]  
Amounts of Assets Acquired and Liabilities Assumed Recognized

 

 

 

 

(in thousands)

September 30, 2016

Consideration

 

   

   

Cash

$

2,351,400

 

Fair value of total consideration transferred

$

2,351,400

 

   

 

 

 

Recognized amounts of identifiable assets acquired and liabilities assumed:

 

   

   

Cash

$

5,907

   

Accounts receivable, net

 

62,313

 

Property, equipment and software

 

12,726

   

Identifiable intangible assets

 

814,131

 

Deferred tax asset

 

2,244

 

Other assets

 

7,509

 

Deferred tax liability

 

(206,645)

 

Financial liabilities

 

(56,500)

   

Total identifiable net assets

 

641,685

   

Goodwill

 

1,709,715

   

 

$

2,351,400

 

 

 

 

 

 

Estimated Fair Value of Identifiable Intangible Assets Acquired

 

 

 

 

 

 

 

(in millions)

    

 

Fair Value

    

Weighted Average
Useful Life
(in years)

 

Merchant relationships

 

$

588.0

 

10.0

 

Channel partners

 

 

121.0

 

10.0

 

Current technology

 

 

72.0

 

5.0

 

Trade name

 

 

16.0

 

1.0

 

Covenants not-to-compete

 

 

15.0

 

3.0

 

Favorable lease

 

 

2.1

 

5.6

 

Total acquired identifiable intangible assets

 

$

814.1

 

9.2

 

 

 

 

 

 

 

 

 

Pro Forma Revenue and Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual

 

Supplemental pro forma

 

 

 

Three months ended September 30, 

 

Three months ended September 30, 

 

 

    

2016

    

2015

    

2016

    

2015

 

(in thousands, except per share data)

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

1,146,888

 

707,890

 

1,146,888

 

827,592

 

Net income attributable to TSYS common shareholders

 

$

85,352

 

120,622

 

88,413

 

114,029

 

Basic EPS attributable to TSYS common shareholders

 

$

0.46

 

0.66

 

0.48

 

0.63

 

Diluted EPS attributable to TSYS common shareholders

 

$

0.46

 

0.65

 

0.48

 

0.62

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual

 

Supplemental pro forma

 

 

 

Nine months ended September 30, 

 

Nine months ended September 30, 

 

 

    

2016

    

2015

    

2016

    

2015

 

(in thousands, except per share data)

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

3,037,853

 

2,062,698

 

3,430,012

 

2,412,262

 

Net income attributable to TSYS common shareholders

 

$

245,688

 

281,216

 

273,058

 

247,533

 

Basic EPS attributable to TSYS common shareholders

 

$

1.34

 

1.53

 

1.49

 

1.35

 

Diluted EPS attributable to TSYS common shareholders

 

$

1.33

 

1.52

 

1.49

 

1.35