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 TSYS Reports 2014’s Fourth Quarter Adjusted EPS Grew 20.8% And The Full Year Grew 13.2%
   Tuesday, January 27, 2015 4:26:12 PM ET

TSYS (TSS ) today reported results for the fourth quarter and full year of 2014.

"We finished 2014 on a high note. Organic revenue grew 5.8%, year over year, with total revenues growing 18.5% and revenues before reimbursable items up 20.2%," said M. Troy Woods, president and chief executive officer of TSYS.

Highlights for the fourth quarter of 2014 include:

-- Adjusted earnings per share (EPS) from continuing operations were $0.58, an increase of 20.8%. On a GAAP basis, basic EPS from continuing operations were $0.45, an increase of 28.8%.

-- Income from continuing operations attributable to TSYS’ shareholders was $83.2 million, an increase of 25.9%.



-- Adjusted EBITDA was $193.7 million, an increase of 7.0%.

-- Total revenues for the quarter were $635.1 million, an increase of 8.9%. Revenues before reimbursable items were $569.3 million, an increase of 8.4%.

-- Adjusted operating margin was 27.2%. GAAP operating margin was 19.3%.

-- TSYS repurchased 1.5 million shares during the quarter.

Highlights for the full year 2014 results include:

-- Adjusted EPS from continuing operations were $1.96, an increase of 13.2%. On a GAAP basis, basic EPS from continuing operations were $1.48, an increase of 12.8%.

-- Income from continuing operations attributable to TSYS’ shareholders was $275.2 million, an increase of 11.5%.

-- Adjusted EBITDA was $712.3 million, an increase of 14.1%.

-- Total revenues were $2.4 billion, an increase of 18.5%. Revenues before reimbursable items were $2.2 billion, an increase of 20.2%.

-- Adjusted operating margin was 25.7%. GAAP operating margin was 17.6%.

-- TSYS repurchased 5.2 million shares for the year.

"With the purchase of 5.2 million shares of our stock during the year and our annual dividend of $0.40 per share, we deployed over 94% of available free cash flow to our shareholders in 2014. Including our purchase of 3.1 million shares in December of 2013, we repurchased 8.3 million shares of our stock deploying $262.9 million of capital during that 13 month period," said Woods.

TSYS also announced that its Board of Directors has approved a new share repurchase plan that authorizes the repurchase of up to 20 million shares of TSYS stock, which replaces its existing share repurchase plan. The shares may be repurchased from time to time in the open market or in privately negotiated transactions at prices TSYS deems appropriate, subject to market conditions, business opportunities and other factors. This authorization has no expiration date and may be suspended or terminated at any time.

2015 Financial Outlook

"Our guidance for 2015 is included in the table below and we expect another year of strong growth in revenues and adjusted EPS. The results for 2014 and our guidance for 2015 reflect our focus on diversification, growth and the exceptional performance of our TSYS team," said Woods.

                                                                                                                                                                                                   2015 Financial Outlook
                                                           ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                  Range                                                                                                                                           
                                                                                                                        (in millions, except per                                                                                                                            Percent
                                                                                                                             share amounts)                                                                                                                                                    Change
                                                           --------------------------------------------------------------------------------------------------------------------------------------------       -------------------- -----------------------------------------------------------------------------------------------------------------------
Total revenues                                                                $                2,620            to                               $                2,660                                         7 %                                                  to                                        9 %
Revenues before reimbursable items                                            $                2,370                               to                                                  $                2,410                                         8 %                                                  to                                       10 %
Adjusted EPS attributable to TSYS common shareholders from                                                                                                                                  13 %
continuing operations*                                                        $                 2.17                               to                                                  $                 2.21                                        11 %                                                  to
                                                                                                                                                                                                                                                                                                                                             
* Average Basic Weighted Shares                                                                        186
                                                                                                                                                                                                                                                                                                                                             

Conference Call

TSYS will host its quarterly conference call at 5:00 p.m. ET on Tuesday, January 27. 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

This press release contains information prepared in conformity with GAAP as well as non-GAAP information. It is management’s intent to provide non-GAAP financial information to enhance understanding of its consolidated financial information as prepared in accordance with GAAP. This non-GAAP information should be considered by the reader in addition to, but not instead of, the financial statements prepared in accordance with GAAP. Each non-GAAP financial measure and the most directly comparable GAAP financial measure are presented so as not to imply that more emphasis should be placed on the non-GAAP measure. The non-GAAP financial information presented may be determined or calculated differently by other companies.

Additional information about non-GAAP financial measures, including, but not limited to, adjusted EBITDA and adjusted EPS, and a reconciliation of those measures to the most directly comparable GAAP measures are included on pages 13 to 16 of this release.

About TSYS

At TSYS(R) (TSS ), we believe payments should revolve around people, not the other way around. We call this belief "People-Centered Payments(R)." By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend(R), A TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.

TSYS’ headquarters are located in Columbus, Ga., U.S.A., with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS is a member of The Civic 50 and was named one of the 2013 World’s Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website. For more, please visit us at www.tsys.com.

Forward-Looking Statements

This press release contains "forward-looking statements" - that is, statements related to future, not past, events. Forward-looking statements often address our expected future business and financial performance and often contain words such as "expect," "anticipate," "intend," "believe," "should," "plan," "potential," "will," "could," and similar expressions. These forward-looking statements include, among others, statements regarding TSYS’ expectation that it will have another year of strong growth in revenues and adjusted EPS and its earnings guidance for 2015 total revenues, revenues before reimbursable items and adjusted EPS, and the assumptions underlying such statements. These statements are based on the current beliefs and expectations of TSYS’ management, are based on management’s assumptions 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 or events 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, the material breach of security of any of TSYS’ systems; TSYS’ ability to integrate acquisitions and achieve the anticipated growth opportunities and other benefits of the acquisitions; the effect of current domestic and worldwide economic conditions; risks associated with foreign operations, including adverse developments with respect to foreign currency exchange rates; expenses are incurred associated with the signing of a significant client; TSYS does not convert clients’ portfolios as scheduled; the deconversion of a significant client; changes occur in laws, rules, regulations, credit card association rules, prepaid industry rules or other industry standards affecting TSYS and our clients that may result in costly new compliance burdens on TSYS and our clients and lead to a decrease in the volume and/or number of transactions processed or limit the types and amounts of fees that can be charged to customers; the costs and effects of litigation, investigations or similar matters or adverse facts and developments relating thereto; adverse developments with respect to the payment card industry in general, including a decline in the use of cards as a payment mechanism; and growth rates of TSYS’ existing clients are lower than anticipated or attrition rates of existing clients are higher than anticipated. Additional risks and other factors that could cause actual results or events to differ materially from those contemplated in this release can be found in TSYS’ filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-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.

                                                                                                                                                                                                                                                                                                                 
                                                                                                                       
-------------------------------------------------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- -----------------------------------------
                                                                                                                                                                                                                           TSYS
                                                                                                                                                                                                                   Financial Highlights
                                                                                                                                                                                                                        (unaudited)
                                                                                                                                                                                                           (in thousands, except per share data)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                          Three Months Ended                                                                                                                                                                                                 Twelve Months Ended
                                                                                                                                                        December 31,                                                                                                                                                                                            December 31,
                                                                                    ----------------------------------------------------------------------------------------------------------------------------------------------------                                                               -------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                Percent                                                                                                                                                                                                 Percent
                                                                                                  2014                                                 2013                                                     Change                                                                                               2014                                                 2013                                          Change
                                                                                    --------------------------------                     --------------------------------                     ------------------------------------------                                                               --------------------------------                     --------------------------------                     ---------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                       
Total revenues                                                                    $    635,104                                              583,103                                                            8.9                      %                                                            $  2,446,877                                            2,064,305                                                 18.5           %
                                                                                                                                                                                                                                                                                                                                                                                                                                       
Cost of services                                                                       422,129                                              386,295                                                            9.3                                                                                      1,668,892                                            1,369,438                                                 21.9
Selling, general and administrative expenses                                            90,199                                               85,739                                                            5.2                                                                                        343,128                                              298,147                                                 15.1
Merger and acquisition expenses                                                              3                             2,211                                       (99.9 )                                                                                        3,217                            14,220                             (77.4 )
                                                                                    ---------- --------------------                      ---------- --------------------                                                                                                                               ---------- --------------------                      ---------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                       
Operating income                                                                       122,773                                              108,858                                                           12.8                                                                                        431,640                                              382,500                                                 12.8
                                                                                                                                                                                                                                                                                                                                                                                                                                       
Nonoperating income (expenses)                                                             968                                                 (718 )                                                           nm                                                                                           (763 )                                               (804 )                                                5.1
Merger and acquisition expenses - bridge loan facility & other                          (9,484 )                                             (9,754 )                                                          2.8                                                                                        (37,948 )                                            (29,220 )                                              (29.9 )
financing
                                                                                    ---------- --------------------                      ---------- --------------------                                                                                                                               ---------- --------------------                      ---------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                       
Income before income taxes, noncontrolling interests
  and equity in income of equity investments                                           114,257                                               98,386                                                           16.1                                                                                        392,929                                              352,476                                                 11.5
Income taxes                                                                            35,428                            33,435                                         6.0                                                                                        129,761                           110,981                              16.9
                                                                                    ---------- --------------------                      ---------- --------------------                                                                                                                               ---------- --------------------                      ---------- --------------------
Income before noncontrolling interests and
   equity in income of equity investments                                               78,829                                               64,951                                                           21.4                                                                                        263,168                                              241,495                                                  9.0
   Equity in income of equity investments, net of tax                                    5,751                             3,691                                        55.8                                                                                         17,583                            13,047                              34.8
                                                                                    ---------- --------------------                      ---------- --------------------                                                                                                                               ---------- --------------------                      ---------- --------------------
   Income from continuing operations, net of tax                                        84,580                                               68,642                                                           23.2                                                                                        280,751                                              254,542                                                 10.3
   (Loss) Gain from discontinued operations, net of tax                                 (3,338 )                                                751                                          nm                                                                                         48,655                             2,055                                          nm
                                                                                    ---------- --------------------                      ---------- --------------------                                                                                                                               ---------- --------------------                      ---------- --------------------
Net income                                                                              81,242                                               69,393                                                           17.1                                                                                        329,406                                              256,597                                                 28.4
Net income attributable to noncontrolling interests                                     (1,382 )                                             (3,738 )                                                         63.0                                                                                         (6,534 )                                            (11,847 )                                               44.8
                                                                                    ---------- --------------------                      ---------- --------------------                                                                                                                               ---------- --------------------                      ---------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                       
Net income attributable to TSYS common shareholders                               $     79,860                            65,655                                        21.6                      %                                                            $    322,872                           244,750                              31.9           %
                                                                                    ========== ====================                      ========== ====================                                                                                                                               ========== ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                       
Basic earnings per share(EPS):
   Income from continuing operations to TSYS
     common shareholders*                                                         $       0.45                                                 0.35                                                           28.8                      %                                                            $       1.48                                                 1.31                                                 12.8           %
   (Loss) Gain from discontinued operations to TSYS
     common shareholders*                                                                (0.02 )                                              (0.00 )                                                           nm                                                                                           0.26                             (0.01 )                                                           nm
                                                                                    ---------- --------------------                      ---------- --------------------                                                                                                                               ---------- --------------------                      ---------- --------------------
Basic EPS                                                                         $       0.43                              0.35                                        24.4                      %                                                            $       1.73                              1.30                              33.5           %
                                                                                    ========== ====================                      ========== ====================                                                                                                                               ========== ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                       
Diluted EPS:
   Income from continuing operations to TSYS
     common shareholders*                                                         $       0.44                                                 0.34                                                           28.9                      %                                                            $       1.46                                                 1.30                                                 12.4           %
   (Loss) Gain from discontinued operations to TSYS
     common shareholders*                                                                (0.02 )                                              (0.00 )                                                           nm                                                                                           0.25                             (0.01 )                                                           nm
                                                                                    ---------- --------------------                      ---------- --------------------                                                                                                                               ---------- --------------------                      ---------- --------------------
Diluted EPS                                                                       $       0.43                              0.34                                        24.5                      %                                                            $       1.71                              1.29                              33.0           %
                                                                                    ========== ====================                      ========== ====================                                                                                                                               ========== ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                       
Dividends declared per share                                                      $       0.10                              0.10                                                                                                                               $       0.40                              0.40  
                                                                                    ========== ====================                      ========== ====================                                                                                                                               ========== ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                       
Amounts attributable to TSYS common shareholders:
  Income from continuing operations, net of tax                                   $     83,198                                               66,058                                                           25.9                      %                                                            $    275,216                                              246,893                                                 11.5           %
 (Loss) Gain from discontinued operations, net of tax                                   (3,338 )                                               (403 )                                                           nm                                                                                         47,656                            (2,143 )                                                           nm
                                                                                    ---------- --------------------                      ---------- --------------------                                                                                                                               ---------- --------------------                      ---------- --------------------
  Net income                                                                      $     79,860                            65,655                                        21.6                      %                                                            $    322,872                           244,750                              31.9           %
                                                                                    ========== ====================                      ========== ====================                                                                                                                               ========== ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                       
Non-GAAP measures:
--------------------------------------------------------------
Adjusted EPS from continuing operations                                           $       0.58                              0.48                                        20.8                      %                                                            $       1.96                              1.73                              13.2           %
                                                                                    ========== ====================                      ========== ====================                                                                                                                               ========== ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                       
Adjusted EBITDA                                                                   $    193,738                           181,097                                         7.0                      %                                                            $    712,267                           624,093                              14.1           %
                                                                                    ========== ====================                      ========== ====================                                                                                                                               ========== ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                       
nm = not meaningful
* EPS amounts may not total due to rounding.
                      
                                                                                                                                                                                     
                                                                     
-------------------- --------------------------- --------------------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- --------------------------------
                                                                                                                                                                           TSYS
                                                                                                                                                      Consolidated Statements of Comprehensive Income
                                                                                                                                                                        (unaudited)
                                                                                                                                                                      (in thousands)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                    Three Months Ended                                                                                                                                                 Twelve Months Ended
                                                                                                                                       December 31,                                                                                                                                                       December 31,
                                                                                                        --------------------------------------------------------------------------                                                                                    -------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                            
                                                                                                                      2014                                           2013                                                                                                           2014                                                 2013
                                                                                                        --------------------------------                     --------------------                                                                                     --------------------------------                     --------------------------------
                                                                                                                                                                                                                                                                                                                            
Net income                                                                                            $     81,242                                                         69,393                                                                                   $    329,406                                              256,597
Other comprehensive income (loss), net of tax:
                     Foreign currency translation adjustment as a
                                                 result of discontinued operations                               -                                                              -                                                                                          3,514                                                    -
                     Foreign currency translation adjustments                                              (13,410 )                                                        2,407                                                                                        (19,531 )                                             (4,081 )
                     Postretirement healthcare plan adjustments                                                147                                                            473                                                                                           (668 )                                              1,895
                     Unrealized (loss) gain on available-for-sale securities                                   (28 )                                                          294                                                                                            589                             1,773  
                                                                                                        ---------- --------------------                      --------------------                                                                                     ---------- --------------------                      ---------- --------------------
Other comprehensive income (loss)                                                                          (13,291 )                                                        3,174                                                                                        (16,096 )                                               (413 )
                                                                                                        ---------- --------------------                      --------------------                                                                                     ---------- --------------------                      ---------- --------------------
Comprehensive income                                                                                        67,951                                                         72,567                                                                                        313,310                                              256,184
Comprehensive income attributable to
    noncontrolling interests                                                                                 1,063                                       2,943                                                                                          6,113                             9,092  
                                                                                                        ---------- --------------------                      --------------------                                                                                     ---------- --------------------                      ---------- --------------------
Comprehensive income attributable to
                     TSYS common shareholders                                                         $     66,888                                      69,624                                                                                   $    307,197                           247,092  
                                                                                                        ========== ====================                      ====================                                                                                     ========== ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                   
                                                                                                                       
------------------------------------------------------ -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- --------------------
                                                                                                                                                                                                                                     TSYS
                                                                                                                                                                                                                                     Earnings Per Share
                                                                                                                                                                                                                                     (unaudited)
                                                                                                                                                                                                                                     (in thousands, except per share data)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                             Three Months Ended                                                                                                  Three Months Ended                                                                                                  Twelve Months Ended                                                                                                 Twelve Months Ended
                                                                                                                              December 31, 2014                                                                                                   December 31, 2013                                                                                                   December 31, 2014                                                                                                   December 31, 2013
                                                                                                 --------------------------------------------------------------------------                                          --------------------------------------------------------------------------                                          --------------------------------------------------------------------------                                          --------------------------------------------------------------------------
                                                                                                              Common                                      Participating                                                           Common                                      Participating                                                           Common                                      Participating                                                           Common                                      Participating
                                                                                                               Stock                                       Securities                                                              Stock                                       Securities                                                              Stock                                       Securities                                                              Stock                                       Securities
                                                                                                 --------------------------------                     --------------------                                           --------------------------------                     --------------------                                           --------------------------------                     --------------------                                           --------------------------------                     --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
Basic earnings per share:
   Net income attributable to TSYS common shareholders                                         $     79,860                                                                                                              65,655                                                                                                        $    322,872                                                                                                             244,750
   Less income allocated to nonvested awards                                                           (831 )                                                          831                                                 (643 )                                                          643                                               (3,308 )                                                        3,308                                               (1,595 )                                                        1,595
                                                                                                 ---------- --------------------                      --------------------                                           ---------- --------------------                      --------------------                                           ---------- --------------------                      --------------------                                           ---------- --------------------                      --------------------
      Net income allocated to common stock for
         EPS calculation ( a )                                                                 $     79,029                                         831                                               65,012                                         643                                         $    319,564                                       3,308                                              243,155                                       1,595
                                                                                                 ========== ====================                      ====================                                           ========== ====================                      ====================                                           ========== ====================                      ====================                                           ========== ====================                      ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
Average common shares outstanding ( b )                                                             183,276                                       1,945                                              187,572                                       1,874                                              184,297                                       1,925                                              187,145                                       1,246
                                                                                                 ========== ====================                      ====================                                           ========== ====================                      ====================                                           ========== ====================                      ====================                                           ========== ====================                      ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
Average common shares and participating securities                                                  185,221                                                                                          189,446                                                                                          186,222                                                                                          188,391  
                                                                                                 ========== ====================                                                                                     ========== ====================                                                                                     ========== ====================                                                                                     ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
Basic earnings per share ( a )/( b )                                                           $       0.43                                        0.43                                                 0.35                                        0.34                                         $       1.73                                        1.72                                                 1.30                                        1.28
                                                                                                 ========== ====================                      ====================                                           ========== ====================                      ====================                                           ========== ====================                      ====================                                           ========== ====================                      ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
Diluted earnings per share:
   Net income attributable to TSYS common shareholders                                         $     79,860                                                                                                              65,655                                                                                                        $    322,872                                                                                                             244,750
   Less income allocated to nonvested awards                                                           (824 )                                                          824                                                 (638 )                                                          638                                               (3,278 )                                                        3,278                                               (1,585 )                                                        1,585
                                                                                                 ---------- --------------------                      --------------------                                           ---------- --------------------                      --------------------                                           ---------- --------------------                      --------------------                                           ---------- --------------------                      --------------------
      Net income allocated to common stock for
         EPS calculation ( c )                                                                 $     79,036                                         824                                               65,017                                         638                                         $    319,594                                       3,278                                              243,165                                       1,585
                                                                                                 ========== ====================                      ====================                                           ========== ====================                      ====================                                           ========== ====================                      ====================                                           ========== ====================                      ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
Average common shares outstanding                                                                   183,276                                                          1,945                                              187,572                                                          1,874                                              184,297                                                          1,925                                              187,145                                                          1,246
Increase due to assumed issuance of shares related
  to common equivalent shares outstanding                                                             1,964                                                                         2,176                                                                         2,205                                                                         1,648                         
                                                                                                 ---------- --------------------                      --------------------                                           ---------- --------------------                      --------------------                                           ---------- --------------------                      --------------------                                           ---------- --------------------                      --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
Average common and common
  equivalent shares outstanding ( d )                                                               185,240                                       1,945                                              189,748                                       1,874                                              186,502                                       1,925                                              188,793                                       1,246
                                                                                                 ========== ====================                      ====================                                           ========== ====================                      ====================                                           ========== ====================                      ====================                                           ========== ====================                      ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
Average common and common
  equivalent shares and participating securities                                                    187,185                                                                                          191,622                                                                                          188,427                                                                                          190,039  
                                                                                                 ========== ====================                                                                                     ========== ====================                                                                                     ========== ====================                                                                                     ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
Diluted earnings per share ( c )/( d )                                                         $       0.43                                        0.42                                                 0.34                                        0.34                                         $       1.71                                        1.70                                                 1.29                                        1.27
                                                                                                 ========== ====================                      ====================                                           ========== ====================                      ====================                                           ========== ====================                      ====================                                           ========== ====================                      ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                 
------------------------------------------ -------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- ----------------------------------------- -------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- ---------------------------------------------------- -----------------------------------------
                                                                                                                                                                                                                                     TSYS
                                                                                                                                                                                                                                     Segment Breakdown
                                                                                                                                                                                                                                     (unaudited)
                                                                                                                                                                                                                                     (in thousands)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                          Three Months Ended December 31,                                                                                                                                                                                                                   Twelve Months Ended December 31,
                                                                                     ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                          ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                           Change                                                                                                                                                                                                                                             Change
                                                                                                                                                                                               -----------------------------------------------------------------------------------------------                                                                                                                                                    -----------------------------------------------------------------------------------------------
                                                                                                   2014                                                 2013                                                   $                                              %                                                                                       2014                                                 2013                                                   $                                              %
                                                                                     --------------------------------                     --------------------------------                     --------------------------------                     ---------------------                                                               --------------------------------                     --------------------------------                     --------------------------------                     ---------------------
Revenues before reimbursable items:
   North America Services                                     $                         255,539                                              223,266                                               32,273                                                 14.5                     %                                                  $    954,082                                              860,645                                               93,437                                                 10.9                     %
   International Services                                                                92,895                                               90,595                                                2,300                                                  2.5                                                                             341,785                                              321,484                                               20,301                                                  6.3
   Merchant Services                                                                    107,677                                              110,375                                               (2,698 )                                               (2.4 )                                                                           435,649                                              446,277                                              (10,628 )                                               (2.4 )
   NetSpend                                                                             119,165                                              104,144                                               15,021                                                 14.4                                                                             482,686                                              207,851                                              274,835                                                             nm
   Intersegment revenues                                                                 (5,975 )                                             (3,121 )                                             (2,854 )                                              (91.4 )                                                                           (21,224 )                                            (12,549 )                                             (8,675 )                                              (69.1 )
                                                                                     ---------- --------------------                      ---------- --------------------                      ---------- --------------------                                                                                                          ---------- --------------------                      ---------- --------------------                      ---------- --------------------
        Revenues before reimbursable items
              from external customers                         $                         569,301                           525,259                            44,042                               8.4                     %                                                  $  2,192,978                         1,823,708                           369,270                              20.2                     %
                                                                                     ========== ====================                      ========== ====================                      ========== ====================                                                                                                          ========== ====================                      ========== ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
Total revenues:
   North America Services                                     $                         299,429                                              259,067                                               40,362                                                 15.6                     %                                                  $  1,117,764                                            1,000,073                                              117,691                                                 11.8                     %
   International Services                                                                98,650                                               96,129                                                2,521                                                  2.6                                                                             363,359                                              341,549                                               21,810                                                  6.4
   Merchant Services                                                                    125,296                                              128,075                                               (2,779 )                                               (2.2 )                                                                           510,120                                              533,050                                              (22,930 )                                               (4.3 )
   NetSpend                                                                             119,165                                              104,144                                               15,021                                                 14.4                                                                             482,686                                              207,851                                              274,835                                                             nm
   Intersegment revenues                                                                 (7,436 )                                             (4,312 )                                             (3,124 )                                              (72.4 )                                                                           (27,052 )                                            (18,218 )                                             (8,834 )                                              (48.5 )
                                                                                     ---------- --------------------                      ---------- --------------------                      ---------- --------------------                                                                                                          ---------- --------------------                      ---------- --------------------                      ---------- --------------------
        Revenues from external customers                      $                         635,104                           583,103                            52,001                               8.9                     %                                                  $  2,446,877                         2,064,305                           382,572                              18.5                     %
                                                                                     ========== ====================                      ========== ====================                      ========== ====================                                                                                                          ========== ====================                      ========== ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
Depreciation and amortization:
   North America Services                                     $                          23,136                                               19,420                                                3,716                                                 19.1                     %                                                  $     86,513                                               74,480                                               12,033                                                 16.2                     %
   International Services                                                                 9,733                                               11,974                                               (2,241 )                                              (18.7 )                                                                            38,909                                               41,708                                               (2,799 )                                               (6.7 )
   Merchant Services                                                                      3,980                                                3,004                                                  976                                                 32.5                                                                              14,571                                               12,034                                                2,537                                                 21.1
   NetSpend                                                                               1,730                             1,651                                79                               4.8                                                                               7,509                             3,121                             4,388                                          nm
                                                                                     ---------- --------------------                      ---------- --------------------                      ---------- --------------------                                                                                                          ---------- --------------------                      ---------- --------------------                      ---------- --------------------
Segment depreciation and amortization                                                    38,579                                               36,049                                                2,530                                                  7.0                                                                             147,502                                              131,343                                               16,159                                                 12.3
Acquisition intangible amortization                                                      24,166                                               24,751                                                 (585 )                                               (2.4 )                                                                            96,971                                               65,893                                               31,078                                                 47.2
Corporate admin and other                                                                   446                               468                               (22 )                                               (4.7 )                                                                             2,147                             1,790                               357                              19.9
                                                                                     ---------- --------------------                      ---------- --------------------                      ---------- --------------------                                                                                                          ---------- --------------------                      ---------- --------------------                      ---------- --------------------
   Total depreciation and amortization                        $                          63,191                            61,268                             1,923                               3.1                     %                                                  $    246,620                           199,026                            47,594                              23.9                     %
                                                                                     ========== ====================                      ========== ====================                      ========== ====================                                                                                                          ========== ====================                      ========== ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
Adjusted segment operating income:
   North America Services                                     $                          99,620                                               87,110                                               12,510                                                 14.4                     %                                                  $    351,512                                              321,619                                               29,893                                                  9.3                     %
   International Services                                                                22,849                                               17,986                                                4,863                                                 27.0                                                                              55,123                                               42,068                                               13,055                                                 31.0
   Merchant Services                                                                     31,399                                               35,952                                               (4,553 )                                              (12.7 )                                                                           134,872                                              155,643                                              (20,771 )                                              (13.3 )
   NetSpend                                                                              32,742                            31,737                             1,005                               3.2                                                                             128,285                            66,353                            61,932                              93.3
                                                                                     ---------- --------------------                      ---------- --------------------                      ---------- --------------------                                                                                                          ---------- --------------------                      ---------- --------------------                      ---------- --------------------
Total adjusted segment operating income                                                 186,610                                              172,785                                               13,825                                                  8.0                                                                             669,792                                              585,683                                               84,109                                                 14.4
Acquisition intangible amortization                                                     (24,166 )                                            (24,751 )                                                585                                                  2.4                                                                             (96,971 )                                            (65,893 )                                            (31,078 )                                              (47.2 )
NetSpend M&A operating expenses                                                              (3 )                                             (2,211 )                                              2,208                                                 99.9                                                                              (3,217 )                                            (14,220 )                                             11,003                                                 77.4
Share-based compensation                                                                 (7,771 )                                             (9,345 )                                              1,574                                                 16.8                                                                             (30,790 )                                            (28,933 )                                             (1,857 )                                               (6.4 )
Corporate admin and other                                                               (31,897 )                                            (27,620 )                                             (4,277 )                                              (15.5 )                                                                          (107,175 )                                            (94,137 )                                            (13,038 )                                              (13.9 )
                                                                                     ---------- --------------------                      ---------- --------------------                      ---------- --------------------                                                                                                          ---------- --------------------                      ---------- --------------------                      ---------- --------------------
    Operating income                                          $                         122,773                           108,858                            13,915                              12.8                     %                                                  $    431,639                           382,500                            49,139                              12.8                     %
                                                                                     ========== ====================                      ========== ====================                      ========== ====================                                                                                                          ========== ====================                      ========== ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
Other:
Reimbursable items:
   North America Services                                     $                          43,890                                               35,801                                                8,089                                                 22.6                     %                                                  $    163,682                                              139,428                                               24,254                                                 17.4                     %
   International Services                                                                 5,755                                                5,534                                                  221                                                  4.0                                                                              21,574                                               20,065                                                1,509                                                  7.5
   Merchant Services                                                                     17,619                                               17,700                                                  (81 )                                               (0.5 )                                                                            74,471                                               86,773                                              (12,302 )                                              (14.2 )
   NetSpend                                                                                   -                                                    -                                                    -                                                             na                                                                         -                                                    -                                                    -                                                             na
   Intersegment revenues                                                                 (1,461 )                                             (1,191 )                                               (270 )                                              (22.7 )                                                                            (5,828 )                                             (5,669 )                                               (159 )                                               (2.8 )
                                                                                     ---------- --------------------                      ---------- --------------------                      ---------- --------------------                                                                                                          ---------- --------------------                      ---------- --------------------                      ---------- --------------------
    Reimbursable items                                        $                          65,803                            57,844                             7,959                              13.8                     %                                                  $    253,899                           240,597                            13,302                               5.5                     %
                                                                                     ========== ====================                      ========== ====================                      ========== ====================                                                                                                          ========== ====================                      ========== ====================                      ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
                                                                                                                                                             
------------------------------------------- -------------------- -------------------- ------------------------------------------ ------------------------------------------ ----------------------------------------- ----------------------------------------- -------------------- ------------------------------------------------------------------------- ------------------------------------------------------------------------- ---------------------------------------------------------------------- -----------------------------------------
                                                                                                                                                                                                                                     TSYS
                                                                                                                                                                                                                                     Segment Breakdown
                                                                                                                                                                                                                                     (unaudited)
                                                                                                                                                                                                                                     (in thousands)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                          
Other:
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
Volumes:                                                                                                                                                                                                                                                                                                                                           At                                                                                                                      Change
                                                                                                                                                                                                                                                                                     --------------------------------------------------------------------------------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------
FTEs (full-time equivalents)                                                                                                                                                                                                                                                                              12/31/2014                                             12/31/2013                                                 #                                               %
                                                                                                                                                                                                                                                                                     ------------------------------------------------------------------------- ------------------------------------------------------------------------- ---------------------------------------------------------------------- ------------------------------------------
   North America Services                                                                                                                                                                                                                                                                                      4,724                                                                     4,484                                                                    240                                                  5.4                     %
   International Services                                                                                                                                                                                                                                                                                      2,403                                                                     2,412                                                                     (9 )                                               (0.4 )
   Merchant Services                                                                                                                                                                                                                                                                                           1,590                                                                     1,598                                                                     (8 )                                               (0.5 )
   NetSpend                                                                                                                                                                                                                                                                                                      552                                                                       470                                                                     82                                                 17.4
   Corporate Admin and Other                                                                                                                                                                                                                                                                  583                                 547                               36                               6.6
                                                                                                                                                                                                                                                                                     -------------------- ---------- --------------------                      -------------------- ---------- --------------------                      -------------------- ------- --------------------
    FTEs - Continuing Operations                                                                                                                                                                                                                                                                               9,852                                                                     9,511                                                                    341                                                  3.6                     %
              Discontinued Operations                                                                                                                                                                                                                                                           -                                  84                              (84 )                                                           na
                                                                                                                                                                                                                                                                                     -------------------- ---------- --------------------                      -------------------- ---------- --------------------                      -------------------- ------- --------------------
    FTEs                                                                                                                                                                                                                                                                                    9,852                               9,595                              257                               2.7                     %
                                                                                                                                                                                                                                                                                     ==================== ========== ====================                      ==================== ========== ====================                      ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                   At                                                                                                                      Change
                                                                                                                                                                                                                                                                                     --------------------------------------------------------------------------------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------
Total assets (in thousands)                                                                                                                                                                                                                                                                               12/31/2014                                             12/31/2013                                                 $                                               %
                                                                                                                                                                                                                                                                                     ------------------------------------------------------------------------- ------------------------------------------------------------------------- ---------------------------------------------------------------------- ------------------------------------------
   North America Services                                                                                                                                                                                                                                                          $                       3,326,730                                                                 3,215,333                                                                111,397                                                  3.5                     %
   International Services                                                                                                                                                                                                                                                                                    356,590                                                                   417,379                                                                (60,789 )                                              (14.6 )
   Merchant Services                                                                                                                                                                                                                                                                                         695,744                                                                   676,592                                                                 19,152                                                  2.8
   NetSpend                                                                                                                                                                                                                                                                                                1,555,273                                                                 1,596,150                                                                (40,877 )                                               (2.6 )
   Intersegment assets                                                                                                                                                                                                                                                                 (2,202,283 )                                           (2,218,886 )                                            16,603                               0.7
                                                                                                                                                                                                                                                                                     -------------------- ---------- --------------------                      -------------------- ---------- --------------------                      -------------------- ------- --------------------
        Total assets                                                                                                                                                                                                                                                               $    3,732,054                           3,686,568                           45,486                               1.2                     %
                                                                                                                                                                                                                                                                                     ==================== ========== ====================                      ==================== ========== ====================                      ==================== ======= ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                            Three Months Ended December 31,                                                                                                                                                                                                            Twelve Months Ended December 31,
                                                                                      --------------------------------------------------------------------------------------------------------------------------------------------------------------------------                     ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                   Change                                                                                                                                                                                                                                                                     Change
                                                                                                                                                                            ------------------------------------------------------------------------------------                                                                                                                                                                         -----------------------------------------------------------------------------------------------------------------
                                                                                               2014                    2013                 Inc(Dec)                   %                                                                            2014                                                   2013                                                Inc(Dec)                                            %
                                                                                      ------------------------------------------ ------------------------------------------ ----------------------------------------- ---------------------                                          ------------------------------------------------------------------------- ------------------------------------------------------------------------- ---------------------------------------------------------------------- ------------------------------------------
North America Segment:
   Accounts on File (AOF) (in millions)                                                                                                                                                                                                                                                                        550.0                                                                     481.9                                                                   68.2                                                 14.1                     %
   Transactions (in millions)                                                                       2,980.0                                    2,488.6                              491.4                                   19.8                     %                                                      10,838.0                                                                   9,132.8                                                                1,705.1                                                 18.7                     %
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
International Segment:
   AOF (in millions)                                                                                                                                                                                                                                                                                            66.6                                                                      59.1                                                                    7.5                                                 12.7                     %
   Transactions (in millions)                                                                         618.1                                      555.6                               62.5                                   11.3                     %                                                       2,268.4                                                                   2,007.4                                                                  261.0                                                 13.0                     %
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
Merchant Segment:
   Point-of-sale Transactions (in millions)                                                           991.0                                    1,034.6                              (43.6 )                                 (4.2 )                   %                                                       4,052.7                                                                   4,359.8                                                                 (307.1 )                                               (7.0 )                   %
   Dollar sales volume (in millions)                                                           $   12,392.6                               $   12,021.0                              371.6                                    3.1                     %                                                  $   46,846.4                                                              $   44,144.0                                                              $ 2,702.4                                                  6.1                     %
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
NetSpend Segment:
   Gross Dollar Volume (in millions)                                                           $    4,691.5                               $    3,967.6                           $  723.9                                   18.2                     %                                                  $   20,296.0                                                              $   17,075.1                                                              $ 3,220.9                                                 18.9                     %
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
   90-Day Active Cards (in thousands)                                                                                                                                                                                                                                                                        1,610.2                                                                   1,321.1                                                                  289.1                                                 21.9                     %
   Direct Deposit 90-Day Active Cards (in thousands)                                                                                                                                                                                                                                                         3,215.0                                                                   2,835.1                                                                  379.9                                                 13.4                     %
   % of 90-Day Active Cards with Direct Deposit                                                                                                                                                                                                                                                                 50.1 %                                                                    46.6 %
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
             
                                                                                                                               
                                                                        
------------------------------------------------------------ -------------------- -------------------------------------------------------------- -------------------- --------------------------------
                                                                                                 TSYS
                                                                                             Balance Sheet
                                                                                              (unaudited)
                                                                                            (in thousands)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                               Dec 31, 2014                                                              Dec 31, 2013
                                                                                  ------------------------------------------                                          --------------------------------
Assets
Current assets:
   Cash and cash equivalents                                                    $              289,183                                                                   247,700
   Accounts receivable, net                                                                    283,204                                                                   255,773
   Deferred income tax assets                                                                   17,095                                                                    14,158
   Prepaid expenses and other current assets                                                    95,758                                                                    95,109
   Current assets of discontinued operations                                                     4,003                                                                    41,193
                                                                                                                                                    
                                                                                  ------------------------------------------                                          --------------------------------
          Total current assets                                                                 689,243                                                                   653,933
Goodwill                                                                                     1,546,300                                                                 1,541,574
Other intangible assets, net                                                                   404,107                                                                   481,419
Computer software, net                                                                         366,148                                                                   363,880
Property and equipment, net                                                                    290,585                                                                   259,968
Contract acquisition costs, net                                                                236,305                                                                   184,828
Equity investments, net                                                                        100,468                                                                    94,133
Deferred income tax assets, net                                                                  7,882                                                                     3,972
Other assets                                                                                    91,016                                                                    87,146
Long-term assets of discontinued operations                                                          -                                                                    15,715
                                                                                                                                                    
                                                                                  ------------------------------------------                                          --------------------------------
          Total assets                                                          $            3,732,054                                              3,686,568  
                                                                                  ==================== ====================                                           ========== ====================
                                                                                                                                                                       
 Liabilities
 Current liabilities:
      Accounts payable                                                          $               48,793                                                                    33,651
      Current portion of borrowings                                                             43,784                                                                    34,257
      Accrued salaries and employee benefits                                                    38,001                                                                    38,339
      Current portion of obligations under capital leases                                        7,127                                                                    22,662
      Other current liabilities                                                                154,805                                                                   159,170
      Current liabilities of discontinued operations                                             4,003                                                                     9,136
                                                                                                                                 
                                                                                  -------------------- --------------------                                           ------------------------------
          Total current liabilities                                                            296,513                                                                   297,215
 Long-term borrowings, excluding current portion                                             1,398,132                                                                 1,428,251
 Deferred income tax liabilities                                                               205,868                                                                   228,727
 Obligations under capital leases, excluding current portion                                     6,974                                                                     7,500
 Other long-term liabilities                                                                    98,006                                                                    81,600
 Long-term liabilities of discontinued operations                                                    -                                                                     1,197
                                                                                                                                                    
                                                                                  ------------------------------------------                                          --------------------------------
          Total liabilities                                                                  2,005,493                                              2,044,490  
                                                                                  -------------------- --------------------                                           ---------- --------------------
 Redeemable noncontrolling interest                                                             22,492                                                 39,652  
                                                                                  -------------------- --------------------                                           ---------- --------------------
 Equity
 Shareholders’ equity:
    Common stock                                                                                20,278                                                                    20,279
    Additional paid-in capital                                                                 175,695                                                                   165,841
    Accumulated other comprehensive income (loss), net                                         (11,926 )                                                                   3,749
    Treasury stock                                                                            (453,230 )                                                                (326,996 )
    Retained earnings                                                                        1,966,370                                              1,718,204  
                                                                                  -------------------- --------------------                                           ---------- --------------------
          Total shareholders’ equity                                                         1,697,187                                              1,581,077  
                                                                                  -------------------- --------------------                                           ---------- --------------------
 Noncontrolling interests in consolidated subsidiaries                                           6,882                                                 21,349  
                                                                                  -------------------- --------------------                                           ---------- --------------------
          Total equity                                                                       1,704,069                                              1,602,426  
                                                                                  -------------------- --------------------                                           ---------- --------------------
          Total liabilities and equity                                          $            3,732,054                                              3,686,568  
                                                                                  ==================== ====================                                           ========== ====================
                                                                                                                                                                       
                     
                                                                                                                                  
                                                                           
------------------------------------------------------------------------- -------------------- ---------------------------------------------------- -------------------- --------------------------------
                                                                                                  TSYS
                                                                                                Cash Flow
                                                                                               (unaudited)
                                                                                             (in thousands)
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                    Twelve Months Ended December 31,
                                                                                               ----------------------------------------------------------------------------------------------------------
                                                                                                             2014                                                                      2013
                                                                                               --------------------------------                                          --------------------------------
                                                                                                                                                                          
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net income                                                                                $    329,406                                                                   256,597
   Adjustments to reconcile net income to net cash
  provided by operating activities:
       Equity in income of equity investments                                                     (17,583 )                                                                 (13,047 )
       Dividends received from equity investments                                                   9,188                                                                     8,595
       Loss on foreign currency                                                                       999                                                                     1,027
       Depreciation and amortization                                                              248,018                                                                   205,351
       Amortization of debt issuance costs                                                          1,817                                                                     7,269
       Amortization of bond discount                                                                  383                                                                       225
       Changes in fair value of private equity investments                                           (793 )                                                                    (966 )
       Share-based compensation                                                                    30,790                                                                    28,933
       Excess tax benefit from share-based compensation                                            (7,185 )                                                                  (3,528 )
       Provisions for bad debt expense and billing adjustments                                      2,823                                                                     2,000
       Charges for transaction processing provisions                                                9,468                                                                     7,458
       Provision for fraud and other losses                                                        38,381                                                                    11,912
       Deferred income tax expense (benefit)                                                      (13,274 )                                                                  26,945
       Loss on disposal of equipment, net                                                            (293 )                                                                     (79 )
       Gain on disposal of subsidiaries                                                           (86,961 )                                                                       -
 Changes in operating assets and liabilities:
        Accounts receivable                                                                       (33,406 )                                                                  (8,667 )
        Prepaid expenses, other current assets and other long-term assets                         (10,525 )                                                                    (571 )
        Accounts payable                                                                            8,765                                                                   (52,042 )
        Accrued salaries and employee benefits                                                        414                                                                      (403 )
        Other current liabilities and other long-term liabilities                                  50,661                                                (24,611 )
                                                                                               ---------- --------------------                                           ---------- --------------------
           Net cash provided by operating activities                                              561,093                                                452,398  
                                                                                               ---------- --------------------                                           ---------- --------------------
                                                                                                                                                                          
CASH FLOWS FROM INVESTING ACTIVITIES:
   Purchases of property and equipment, net                                                       (75,913 )                                                                 (40,598 )
   Additions to licensed computer software from vendors                                           (29,638 )                                                                 (63,635 )
   Additions to internally developed computer software                                            (41,501 )                                                                 (33,600 )
   Proceeds from insurance recovery for loss on disposal                                            6,212                                                                         -
   Proceeds from dispositions, net of expenses paid and cash disposed                              44,979                                                                         -
   Cash used in acquisitions, net of cash acquired                                                (38,584 )                                                              (1,314,660 )
   Purchase of private equity investments                                                          (3,291 )                                                                  (1,378 )
   Additions to contract acquisition costs                                                        (88,871 )                                                                 (55,965 )
                                                                                               ---------- --------------------                                           ---------- --------------------
           Net cash used in investing activities                                                 (226,607 )                                                              (1,509,836 )
                                                                                               ---------- --------------------                                           ---------- --------------------
                                                                                                                                                                          
CASH FLOWS FROM FINANCING ACTIVITIES:
   Principal payments on long-term borrowings and
 capital lease obligations                                                                        (69,940 )                                                                (166,805 )
   Proceeds from borrowings of long-term borrowings                                                 1,396                                                                 1,395,661
   Proceeds from exercise of stock options                                                         34,869                                                                    40,691
   Excess tax benefit from share-based compensation                                                 7,185                                                                     3,528
   Repurchase of common stock under plans and tax withholding                                    (170,515 )                                                                (103,857 )
   Debt issuance costs                                                                                  -                                                                   (13,573 )
   Purchase of noncontrolling interests                                                           (37,500 )                                                                       -
   Subsidiary dividends paid to noncontrolling shareholders                                        (7,172 )                                                                  (7,321 )
   Dividends paid on common stock                                                                 (74,796 )                                                                 (56,510 )
                                                                                               ---------- --------------------                                           ---------- --------------------
           Net cash (used in) provided by financing activities                                   (316,473 )                                                               1,091,814  
                                                                                               ---------- --------------------                                           ---------- --------------------
                                                                                                                                                                          
CASH AND CASH EQUIVALENTS:
 Effect of exchange rate changes on cash and cash equivalents                                      (7,060 )                                                                  (3,758 )
                                                                                               ---------- --------------------                                           ---------- --------------------
 Net increase in cash and cash equivalents                                                         10,953                                                                    30,618
 Cash and cash equivalents at beginning of period                                                 278,230                                                247,612  
                                                                                               ---------- --------------------                                           ---------- --------------------
 Cash and cash equivalents at end of period                                                       289,183                                                                   278,230
 Less cash and cash equivalents of discontinued
 operations at end of period                                                                            -                                                (30,530 )
                                                                                               ---------- --------------------                                           ---------- --------------------
 Cash and cash equivalents of continuing operations at end of period                         $    289,183                                                247,700  
                                                                                               ========== ====================                                           ========== ====================
                                                                                                                                                                          
                                                                                                                                  
 
                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                  
Supplemental Information:
                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                          Total Accounts on File
                                                                                                                                                                                    ------------------------------------------------------------------------------------------------------------------------------------------------------------------
(in millions)                                                                                                                                                                                            December                                 December                                           %
                                                                                                                                                                                                           2014                                                        2013                                                             Change
                                                                                                                                                                                                         --------                      -------------------- -------------------------                       -------------------- --------------------
Consumer Credit                                                                                                                                                                                             270.0                                           228.9                                                                                18.0
Retail                                                                                                                                                                                                       28.4                                            27.8                                                              2.2
                                                                                                                                                                                                         --------                                           ----- --------------------
   Total Consumer                                                                                                                                                                                           298.4                                           256.7                                                                                16.3
Commercial                                                                                                                                                                                                   41.6                                            39.9                                                                                 4.2
Other                                                                                                                                                                                                        22.4                                            18.9                                                             18.7
                                                                                                                                                                                                         --------                                           ----- --------------------
   Subtotal                                                                                                                                                                                                 362.4                                           315.5                                                                                14.9
Prepaid/Stored Value                                                                                                                                                                                        127.3                                           118.0                                                                                 7.9
Government Services                                                                                                                                                                                          67.4                                            62.2                                                                                 8.2
Commercial Card Single Use                                                                                                                                                                                   59.6                                            45.3                                                             31.5
                                                                                                                                                                                                         --------                                           ----- --------------------
Total AOF                                                                                                                                                                                                   616.7                                           541.0                                                             14.0
                                                                                                                                                                                                         ========                                           ===== ====================
                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                  
Growth in Accounts on File (in millions):
----------------------------------------------
                                                                                                                    December 2013 to                                                                                                                                   December 2012 to
                                                                                                                      December 2014                                                                                                                                      December 2013
                                                                     ---------------------------------------------------------------------------------------------------------                           -------------------------------------------------------------------------------------------------------------------------------------
Beginning balance                                                                                              541.0                                                                                                                                        479.3
Change in accounts on file due to:
            Internal growth of existing clients                                                                 40.0                                                                                                                                         37.6
                                    New clients                                                                 75.3                                                                                                                                         61.2
                                   Purges/Sales                                                                (39.0 )                                                                                                                                      (36.4 )
                                  Deconversions                           (0.6 )                                                                              (0.7 )                         
                                                                     -------------------- -------------------- ----- -------------------- -------------------- --------------------                                                    -------------------- ----- -------------------- -------------------- -------------------- --------------------
Ending balance                                                           616.7                                                            541.0        
                                                                     ==================== ==================== ===== ==================== ==================== ====================                                                    ==================== ===== ==================== ==================== ==================== ====================
                                                                                                                                                                                                                                                                                                                                  
              
                                                                 
                      Reconciliation of GAAP to Non-GAAP Financial Measures
                                                                 
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 fourth quarter
2014 financial results using the previous year’s foreign currency
exchange rates. On a full year constant currency basis, TSYS’ total
revenues grew 17.8% as compared to a reported GAAP increase of 18.5%.
                                                                 
The schedule below also provides a reconciliation of basic EPS,
adjusted for the after-tax impact of acquisition intangible
amortization, share-based compensation and merger and acquisition
costs, to adjusted EPS.
                                                                 
The tax rate used in the calculation of adjusted EPS for the quarter
and year is equal to an estimate of our annual effective tax rate on
GAAP income. This effective rate is estimated annually and may be
adjusted during the year to take into account events or trends that
materially impact the effective tax rate including, but not limited
to, significant changes resulting from tax legislation, material
changes in the mix of revenues and expenses by entity and other
significant events.
                                                                 
The schedule also provides a reconciliation of net income, adjusted
for income from discontinued operations, equity in income of equity
investments, income taxes, nonoperating expense, depreciation and
amortization, share-based compensation, and merger and acquisition
expenses, to adjusted EBITDA.
                                                                 
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 potential
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.
                                                                 
                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                                                 Reconciliation of GAAP to Non-GAAP
                                              
-------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                    Constant Currency Comparison
                                                                                                                                                                                             (unaudited)
                                                                                                                                                                                           (in thousands)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                               Three Months Ended December 31,                                                                                                                                             Twelve Months Ended December 31,
                                                                                    --------------------------------------------------------------------------------------------------------------------                                                               ---------------------------------------------------------------------------------------------------------
                                                                                                                                                                                          Percent                                                                                                                                                                 Percent
                                                                                                  2014                                           2013                                     Change                                                                               2014                                      2013                                     Change
                                                                                    --------------------------------                     --------------------                      --------------------                                                                --------------------                      --------------------                      --------------------
Consolidated
Constant currency (1)                                                             $    638,111                                                        583,103                                       9.4 %                                                            $            2,431,947                                 2,064,305                                      17.8 %
Foreign currency (2)                                                                    (3,007 )                                                            -                                                                                                                        14,930                                         -
                                                                                    ---------- --------------------                      --------------------                                                                                                          --------------------                      --------------------
Total revenues                                                                    $    635,104                                     583,103                                       8.9 %                                                            $            2,446,877                                 2,064,305                                      18.5 %
                                                                                    ---------- --------------------                      --------------------                                                                                                          --------------------                      --------------------
                                                                                                                                                                                                                                                                                                                                                                                 
Constant currency (1)                                                             $    572,166                                                        525,259                                       8.9 %                                                            $            2,178,951                                 1,823,708                                      19.5 %
Foreign currency (2)                                                                    (2,865 )                                                            -                                                                                                                        14,027                                         -
                                                                                    ---------- --------------------                      --------------------                                                                                                          --------------------                      --------------------
Total revenues before reimbursable items                                          $    569,301                                     525,259                                       8.4 %                                                            $            2,192,978                                 1,823,708                                      20.2 %
                                                                                    ---------- --------------------                      --------------------                                                                                                          --------------------                      --------------------
                                                                                                                                                                                                                                                                                                                                                                                 
Constant currency (1)                                                             $    122,786                                                        108,858                                      12.8 %                                                            $              422,646                                   382,500                                      10.5 %
Foreign currency (2)                                                                       (13 )                                                            -                                                                                                                         8,994                                         -
                                                                                    ---------- --------------------                      --------------------                                                                                                          --------------------                      --------------------
Operating income                                                                  $    122,773                                     108,858                                      12.8 %                                                            $              431,640                                   382,500                                      12.8 %
                                                                                    ---------- --------------------                      --------------------                                                                                                          --------------------                      --------------------
                                                                                                                                                                                                                                                                                                                                                                                 
International Services
Constant currency (1)                                                             $    101,655                                                         96,129                                       5.7 %                                                            $              348,595                                   341,549                                       2.1 %
Foreign currency (2)                                                                    (3,005 )                                                            -                                                                                                                        14,764                                         -
                                                                                    ---------- --------------------                      --------------------                                                                                                          --------------------                      --------------------
Total revenues                                                                    $     98,650                                      96,129                                       2.6 %                                                            $              363,359                                   341,549                                       6.4 %
                                                                                    ---------- --------------------                      --------------------                                                                                                          --------------------                      --------------------
                                                                                                                                                                                                                                                                                                                                                                                 
(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.
                                              
-------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                 Revenues Before Reimbursable Items
                                                                                                                                                                                             (unaudited)
                                                                                                                                                                                           (in thousands)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                               Three Months Ended December 31,                                                                                                                                             Twelve Months Ended December 31,
                                                                                    --------------------------------------------------------------------------------------------------------------------                                                               ---------------------------------------------------------------------------------------------------------
                                                                                                                                                                                          Percent                                                                                                                                                                 Percent
                                                                                                  2014                                           2013                                     Change                                                                               2014                                      2013                                     Change
                                                                                    --------------------------------                     --------------------                      --------------------                                                                --------------------                      --------------------                      --------------------
Total revenues                                                                    $    635,104                                                        583,103                                       8.9 %                                                            $            2,446,877                                 2,064,305                                      18.5 %
Reimbursable items                                                                      65,803                                      57,844                                      13.8                                                                             253,899                                   240,597                                       5.5
                                                                                    ---------- --------------------                      --------------------                                                                                                          --------------------                      --------------------
Revenues before reimbursable items                                                $    569,301                                     525,259                                       8.4 %                                                            $            2,192,978                                 1,823,708                                      20.2 %
                                                                                    ========== ====================                      ====================                                                                                                          ====================                      ====================
                                                                                                                                                                                                                                                                                                                                                                                 
 
                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                                                                                                 Reconciliation of GAAP to Non-GAAP
                                                                                     
-------------------- -------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                     Adjusted Earnings per Share
                                                                                                                                                                                                                                     (unaudited)
                                                                                                                                                                                                                                (in thousands, except per share data)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                         Three Months Ended December 31,                                                                                                                                             Twelve Months Ended December 31,                                                 
                                                                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------                     -------------------- -------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                          Percent                                                                                                                                                                                                            Percent
Income from continuing operations attributable to                                                                      2014                              2013                                  Change                                                                                               2014                              2013                                  Change
                                                                                                         ---------------------------------------------------- ---------------------------------------------------- ------------------------------------------                                                               ---------------------------------------------------- ---------------------------------------------------- ------------------------------------------
   TSYS common shareholders                                                                            $     83,198                                               66,058                                                           25.9                      %                                                            $    275,216                                              246,893                                                           11.5                      %
Adjust for amounts attributable to TSYS common shareholders:
   Add: Acquisition intangible amortization, net of taxes                                              $     17,747                                               16,609                                                            6.9                      %                                                                  65,127                                               43,743                                                           48.9                      %
   Add: Share-based compensation, net of taxes                                                                5,777                                                6,405                                                           (9.8 )                                                                                       20,944                                               19,830                                                            5.6
   Add: NetSpend M&A expenses, net of taxes*                                                                      3          1,318                                       (99.8 )                                                                                        3,115         15,251                                       (79.6 )
                                                                                                         ---------- -------------------- -------------------- ---------- --------------------                                                                                                                               ---------- -------------------- -------------------- ---------- --------------------
Adjusted earnings                                                                                      $    106,725         90,390                                        18.1                      %                                                            $    364,402        325,717                                        11.9                      %
                                                                                                         ========== ==================== ==================== ========== ====================                                                                                                                               ========== ==================== ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
Basic EPS - Income from continuing operations attributable to
    TSYS common shareholders
As reported (GAAP)                                                                                     $       0.45           0.35                                        28.8                      %                                                            $       1.48           1.31                                        12.8                      %
                                                                                                         ========== ==================== ==================== ========== ====================                                                                                                                               ========== ==================== ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
Adjust for amounts attributable to TSYS common shareholders:
   Add: Acquisition intangible amortization, net of taxes                                                      0.10                                                 0.09                                                            9.2                                                                                           0.35                                                 0.23                                                           50.6
   Add: Share-based compensation, net of taxes                                                                 0.03                                                 0.03                                                           (7.7 )                                                                                         0.11                                                 0.11                                                            6.8
   Add: NetSpend M&A expenses, net of taxes*                                                                      -           0.01                                      (100.0 )                                                                                         0.02           0.08                                       (79.4 )
                                                                                                         ---------- -------------------- -------------------- ---------- --------------------                                                                                                                               ---------- -------------------- -------------------- ---------- --------------------
Adjusted EPS **                                                                                        $       0.58           0.48                                        20.8                      %                                                            $       1.96           1.73                                        13.2                      %
                                                                                                         ========== ==================== ==================== ========== ====================                                                                                                                               ========== ==================== ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
Average common shares and participating securities                                                          185,221                           189,446                                                                                                                                    186,222        188,391  
                                                                                                         ========== ====================                      ========== ====================                                                                                                                               ========== ==================== ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
* Certain merger and acquisition costs are nondeductible for income
tax purposes
** Adjusted EPS amounts may not total due to rounding.
                                                                                     
-------------------- -------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                     Adjusted EBITDA
                                                                                                                                                                                                                                     (unaudited)
                                                                                                                                                                                                                                     (in thousands)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
                                                                                                                                                                              Three Months Ended December 31,                                                                                                                                                    Twelve Months Ended December 31,                                                           
                                                                                                         -------------------------------------------------------------------------------------------------------------------------------------------------------------------------                     ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                     Percent                                                                                                                                                                                                 Percent
                                                                                                                       2014                              2013                                  Change                                                                                               2014                              2013                                  Change
                                                                                                         ---------------------------------------------------- ---------------------------------------------------- ------------------------------------------                                                               ---------------------------------------------------- ---------------------------------------------------- ------------------------------------------
Net income                                                                                             $     81,242                                               69,393                                                           17.1                      %                                                            $    329,406                                              256,597                                                           28.4                      %
 Adjust for:
   Deduct: Loss (Income) from discontinued operations                                                         3,338                                                 (751 )                                                           nm                                                                                        (48,655 )                                             (2,055 )                                                           nm
   Deduct: Equity in income of equity investments                                                            (5,751 )                                             (3,691 )                                                        (55.8 )                                                                                      (17,583 )                                            (13,047 )                                                        (34.8 )
   Add: Income taxes                                                                                         35,428                                               33,435                                                            6.0                                                                                        129,761                                              110,981                                                           16.9
   Add: Nonoperating expense                                                                                  8,516                                               10,472                                                          (18.7 )                                                                                       38,711                                               30,024                                                           28.9
   Add: Depreciation and amortization                                                                        63,191         61,268                                         3.1                                                                                        246,620                           199,026                                        23.9
                                                                                                         ---------- -------------------- -------------------- ---------- --------------------                                                                                                                               ---------- --------------------                      ---------- --------------------
 EBITDA                                                                                                $    185,964                                              170,126                                                            9.3                      %                                                            $    678,260                                              581,526                                                           16.6                      %
 Adjust for:
   Add: Share-based compensation                                                                              7,771                                                9,345                                                          (16.8 )                                                                                       30,790                                               28,933                                                            6.4
   Add: NetSpend M&A operating expenses*                                                                          3          1,626                                       (99.8 )                                                                                        3,217         13,634                                       (76.4 )
                                                                                                         ---------- -------------------- -------------------- ---------- --------------------                                                                                                                               ---------- -------------------- -------------------- ---------- --------------------
 Adjusted EBITDA                                                                                       $    193,738        181,097                                         7.0                      %                                                            $    712,267        624,093                                        14.1                      %
                                                                                                         ========== ==================== ==================== ========== ====================                                                                                                                               ========== ==================== ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
nm = not meaningful
* Excludes share-based compensation
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
 
                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                             
                                                                                                                                                                                       Reconciliation of GAAP to Non-GAAP
                                                                             
-------------------- -------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- -------------------- --------------------
                                                                                                                                                             Segment Operating Margin and Consolidated Adjusted Operating Margin
                                                                                                                                                                                                   (unaudited)
                                                                                                                                                                                                 (in thousands)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                             
                                                                                                            Three Months Ended December 31, 2014                                                                                                                                                                     Three Months Ended December 31, 2013
                                                               -------------------------------------------------------------------------------------------------------------------------------                                                               ----------------------------------------------------------------------------------------------------------------------------------------------------
                                                                       Adjusted Segment                                      Revenues before                                              Adjusted                                                                   Adjusted Segment                                      Revenues before                                              Adjusted
                                                                       Operating Income                 Reimbursable Items                      Operating Margin                                                               Operating Income                 Reimbursable Items                      Operating Margin
                                                               ---------------------------------------------------- ---------------------------------------------------- ------------------------------------------                                          ---------------------------------------------------- ---------------------------------------------------- ------------------------------------------
   North America Services                                    $     99,620                                              255,539                                                          38.98 %                                                            $     87,110                                              223,266                                                          39.02 %
   International Services                                          22,849                                               92,895                                                          24.60                                                                    17,986                                               90,595                                                          19.85
   Merchant Services                                               31,399                                              107,677                                                          29.16                                                                    35,952                                              110,375                                                          32.57
   NetSpend                                                        32,742                                              119,165                                                          27.48                                                                    31,737                                              104,144                                                          30.47
   Intersegment                                                         -                                               (5,975 )                                                                                                                                      -                                               (3,121 )
   Corporate admin and other                                      (31,897 )                               -                                                                                                               (27,620 )                               -  
                                                               ---------- -------------------- -------------------- ---------- --------------------                                                                                                          ---------- -------------------- -------------------- ---------- --------------------
    Adjusted operating margin                                $    154,713                                              569,301                                                          27.18 %                                                            $    145,165                                              525,259                                                          27.64 %
Acquisition intangible amortization                               (24,166 )                                                                                                                                                                                     (24,751 )
NetSpend M&A operating expenses                                        (3 )                                                                                                                                                                                      (2,211 )
Share-based compensation                                           (7,771 )                                                                                                                                                (9,345 )                       
                                                               ---------- -------------------- -------------------- --------------------------------                                                                                                         ---------- -------------------- -------------------- --------------------------------
    Operating income and margin*                             $    122,773                                              569,301                                                          21.57 %                                                            $    108,858                                              525,259                                                          20.72 %
    Reimbursable items                                                            65,803                                                                                                                               57,844  
                                                               ---------------------------------------------------- ---------- --------------------                                                                                                          ---------------------------------------------------- ---------- --------------------
    Operating margin (US GAAP)                               $    122,773        635,104                                       19.33 %                                                            $    108,858        583,103                                       18.67 %
                                                               ========== ==================== ==================== ========== ====================                                                                                                          ========== ==================== ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                             
                                                                                                                                                                                                                                                                                                                                                                                             
                                                                                                            Twelve Months Ended December 31, 2014                                                                                                                                                         Twelve Months Ended December 31, 2013
                                                               -------------------------------------------------------------------------------------------------------------------------------                                                               -------------------------------------------------------------------------------------------------------------------------------
                                                                       Adjusted Segment                                      Revenues before                                              Adjusted                                                                   Adjusted Segment                                      Revenues before                                              Adjusted
                                                                       Operating Income                 Reimbursable Items                      Operating Margin                                                               Operating Income                                    Reimbursable Items                                         Operating Margin
                                                               ---------------------------------------------------- ---------------------------------------------------- ------------------------------------------                                          --------------------------------                     --------------------------------                     ------------------------------------------
   North America Services                                    $    351,512                                              954,082                                                          36.84 %                                                            $    321,619                                              860,645                                                          37.37 %
   International Services                                          55,123                                              341,785                                                          16.13                                                                    42,068                                              321,484                                                          13.09
   Merchant Services                                              134,872                                              435,649                                                          30.96                                                                   155,643                                              446,277                                                          34.88
   NetSpend                                                       128,285                                              482,686                                                          26.58                                                                    66,353                                              207,851                                                          31.92
   Intersegment                                                         -                                              (21,224 )                                                                                                                                      -                                              (12,549 )
   Corporate admin and other                                     (107,175 )                               -                                                                                                               (94,137 )                               -  
                                                               ---------- -------------------- -------------------- ---------- --------------------                                                                                                          ---------- -------------------- -------------------- ---------- --------------------
    Adjusted operating margin                                $    562,617                                            2,192,978                                                          25.66 %                                                            $    491,546                                            1,823,708                                                          26.95 %
Acquisition intangible amortization                               (96,971 )                                                                                                                                                                                     (65,893 )
NetSpend M&A operating expenses                                    (3,217 )                                                                                                                                                                                     (14,220 )
Share-based compensation                                          (30,790 )                                                                                                                                               (28,933 )                       
                                                               ---------- -------------------- -------------------- --------------------------------                                                                                                         ---------- -------------------- -------------------- --------------------------------
    Operating income and margin*                             $    431,639                                            2,192,978                                                          19.68 %                                                            $    382,500                                            1,823,708                                                          20.97 %
    Reimbursable items                                                           253,899                                                                                                                              240,597  
                                                               ---------------------------------------------------- ---------- --------------------                                                                                                          ---------------------------------------------------- ---------- --------------------
    Operating margin (US GAAP)                               $    431,639      2,446,877                                       17.64 %                                                            $    382,500      2,064,305                                       18.53 %
                                                               ========== ==================== ==================== ========== ====================                                                                                                          ========== ==================== ==================== ========== ====================
                                                                                                                                                                                                                                                                                                                                                                                             
* Operating margin on revenue before reimbursable items
 

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20150127006464r1&sid=cmtx6&distro=nx&lang=en

SOURCE: TSYS

TSYS Investor Relations 
Shawn Roberts, +1-706-644-6081 
shawnroberts@tsys.com


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