2023 Q1 Form 10-K Financial Statement

#000112336023000009 Filed on February 17, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $2.292B $2.253B $8.976B
YoY Change 6.32% 2.69% 5.3%
Cost Of Revenue $947.8M $927.9M $3.779B
YoY Change -0.98% -4.14% 0.13%
Gross Profit $1.345B $1.325B $5.197B
YoY Change 12.14% 8.08% 9.41%
Gross Profit Margin 58.66% 58.81% 57.9%
Selling, General & Admin $1.043B $847.7M $3.525B
YoY Change 26.72% 5.12% 3.93%
% of Gross Profit 77.57% 63.97% 67.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $407.3M $400.7M $1.662B
YoY Change -4.98% -5.76% -1.71%
% of Gross Profit 30.29% 30.24% 31.99%
Operating Expenses $1.043B $847.7M $3.525B
YoY Change 26.72% 5.12% 3.93%
Operating Profit $56.74M $477.4M $640.2M
YoY Change -84.91% 13.78% -52.89%
Interest Expense -$107.8M -$109.7M -$403.4M
YoY Change 23.13% 34.07% 30.68%
% of Operating Profit -190.09% -22.97% -63.02%
Other Income/Expense, Net -$111.8M -$3.578M -$415.8M
YoY Change 22.08% 34.16% 32.29%
Pretax Income -$55.06M $294.4M -$189.0M
YoY Change -119.36% 24.47% -135.16%
Income Tax -$31.40M $47.44M $166.7M
% Of Pretax Income 16.12%
Net Earnings -$11.04M $249.3M $111.5M
YoY Change -104.51% 19.6% -88.45%
Net Earnings / Revenue -0.48% 11.07% 1.24%
Basic Earnings Per Share -$0.04 $0.41
Diluted Earnings Per Share -$0.04 $0.93 $0.40
COMMON SHARES
Basic Shares Outstanding 263.2M shares 270.4M shares 275.2M shares
Diluted Shares Outstanding 263.1M shares 275.6M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.002B $1.998B $1.998B
YoY Change -2.13% 0.92% 0.92%
Cash & Equivalents $2.002B $1.998B $1.998B
Short-Term Investments
Other Short-Term Assets $618.3M $469.4M $469.4M
YoY Change 63.81% 34.11% 34.11%
Inventory
Prepaid Expenses
Receivables $1.067B $998.3M $1.328B
Other Receivables $1.576B $2.519B $2.519B
Total Short-Term Assets $5.595B $6.314B $6.314B
YoY Change 8.59% 34.03% 34.03%
LONG-TERM ASSETS
Property, Plant & Equipment $2.023B $1.839B $2.199B
YoY Change 17.9% 8.96% 0.81%
Goodwill $26.85B $23.32B
YoY Change 8.3% -6.02%
Intangibles $10.59B $9.658B
YoY Change -6.24% -16.98%
Long-Term Investments $957.2M
YoY Change -1.97%
Other Assets $2.465B $2.343B $3.164B
YoY Change 0.28% -3.25% 73.2%
Total Long-Term Assets $43.04B $38.49B $38.49B
YoY Change 6.85% -5.11% -5.11%
TOTAL ASSETS
Total Short-Term Assets $5.595B $6.314B $6.314B
Total Long-Term Assets $43.04B $38.49B $38.49B
Total Assets $48.64B $44.81B $44.81B
YoY Change 7.05% -1.04% -1.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.091B $4.630B $3.771B
YoY Change 140.72% 240.94% 132.78%
Accrued Expenses $797.0M
YoY Change 11.82%
Deferred Revenue $223.7M $226.3M
YoY Change 6.58% -0.67%
Short-Term Debt $482.3M $747.1M $747.1M
YoY Change -3.02% 54.3% 54.3%
Long-Term Debt Due $1.185B $1.169B $1.169B
YoY Change 885.95% 1389.5% 1389.5%
Total Short-Term Liabilities $6.083B $6.899B $6.899B
YoY Change 24.99% 54.57% 54.57%
LONG-TERM LIABILITIES
Long-Term Debt $16.53B $12.29B $12.29B
YoY Change 41.03% 7.66% 7.66%
Other Long-Term Liabilities $699.4M $648.0M $652.5M
YoY Change -3.33% -12.32% -11.72%
Total Long-Term Liabilities $699.4M $648.0M $12.94B
YoY Change -3.33% -12.32% 6.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.083B $6.899B $6.899B
Total Long-Term Liabilities $699.4M $648.0M $12.94B
Total Liabilities $25.76B $22.27B $22.51B
YoY Change 28.52% 14.73% 14.52%
SHAREHOLDERS EQUITY
Retained Earnings $2.655B $2.731B
YoY Change -13.49% -8.41%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.08B $22.30B $22.30B
YoY Change
Total Liabilities & Shareholders Equity $48.64B $44.81B $44.81B
YoY Change 7.05% -1.04% -1.04%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$11.04M $249.3M $111.5M
YoY Change -104.51% 19.6% -88.45%
Depreciation, Depletion And Amortization $407.3M $400.7M $1.662B
YoY Change -4.98% -5.76% -1.71%
Cash From Operating Activities $599.5M $709.5M $2.244B
YoY Change -4.84% -5.8% -19.3%
INVESTING ACTIVITIES
Capital Expenditures $162.2M $152.3M $615.7M
YoY Change -203.9% -206.9% -224.82%
Acquisitions $4.047B $65.67M
YoY Change 85528.12% -96.37%
Other Investing Activities -$2.187M -$36.31M -$2.496M
YoY Change 43640.0% -95.76% -76.94%
Cash From Investing Activities -$4.207B -$188.6M -$675.5M
YoY Change 2515.79% -81.1% -70.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.921B
YoY Change 15.3%
Debt Paid & Issued, Net $1.556B $7.895B
YoY Change 32.25% 63.57%
Cash From Financing Activities $3.611B -572.1M -$1.377B
YoY Change -1059.47% 501.12% 239.62%
NET CHANGE
Cash From Operating Activities $599.5M 709.5M $2.244B
Cash From Investing Activities -$4.207B -188.6M -$675.5M
Cash From Financing Activities $3.611B -572.1M -$1.377B
Net Change In Cash $22.15M -51.20M $92.58M
YoY Change -60.94% -84.94% 178.43%
FREE CASH FLOW
Cash From Operating Activities $599.5M $709.5M $2.244B
Capital Expenditures $162.2M $152.3M $615.7M
Free Cash Flow $437.3M $557.2M $1.628B
YoY Change -44.37% -37.79% -50.26%

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CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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143313000 usd
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163261000 usd
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23031000 usd
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72778000 usd
CY2022 us-gaap Equity Classified Written Call Option Modification Equity Issuance Increase Decrease In Equity Amount
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1.00
CY2022 us-gaap Dividends Cash
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273955000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
22540210000 usd
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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27487044000 usd
CY2021 us-gaap Profit Loss
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987864000 usd
CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax
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49545000 usd
CY2021 us-gaap Stock Repurchased During Period Value
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90165000 usd
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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180779000 usd
CY2021 gpn Noncontrolling Interest Increase From Contributions
NoncontrollingInterestIncreaseFromContributions
69987000 usd
CY2021 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
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0 usd
CY2021 us-gaap Stock Repurchased And Retired During Period Value
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2513629000 usd
CY2021 us-gaap Common Stock Dividends Per Share Cash Paid
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0.89
CY2021 us-gaap Dividends Cash
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259726000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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25869417000 usd
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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28054989000 usd
CY2020 us-gaap Profit Loss
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605100000 usd
CY2020 us-gaap Other Comprehensive Income Loss Net Of Tax
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134996000 usd
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66142000 usd
CY2020 us-gaap Stock Repurchased During Period Value
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60849000 usd
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148792000 usd
CY2020 us-gaap Noncontrolling Interest Increase From Business Combination
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14812000 usd
CY2020 us-gaap Minority Interest Decrease From Redemptions
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578196000 usd
CY2020 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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26199000 usd
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633948000 usd
CY2020 us-gaap Common Stock Dividends Per Share Cash Paid
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0.78
CY2020 us-gaap Dividends Cash
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233216000 usd
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27487044000 usd
CY2022Q3 us-gaap Number Of Reportable Segments
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Use of estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">— </span>The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reported period. Actual results could differ materially from those estimates. In particular, uncertainty resulting from the COVID-19 pandemic, global events and other macroeconomic conditions are difficult to predict at this time, and the ultimate effect could result in additional charges related to the recoverability of assets, including financial assets, long-lived assets and goodwill and other losses. These consolidated financial statements reflect the financial statement effects based upon management’s estimates and assumptions utilizing the most currently available information.
CY2022Q4 us-gaap Cash
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713000000 usd
CY2021Q4 us-gaap Cash
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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1997566000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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1979308000 usd
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147422000 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
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CY2021Q4 gpn Assets Held For Sale Cash
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2215606000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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2123023000 usd
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21000000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2021 us-gaap Provision For Doubtful Accounts
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12800000 usd
CY2020 us-gaap Provision For Doubtful Accounts
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CY2021Q4 gpn Settlement Processing Asset Allowance For Credit Loss
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13000000 usd
CY2021 gpn Settlement Processing Asset Credit Loss Expense Reversal
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3600000 usd
CY2020 gpn Settlement Processing Asset Credit Loss Expense Reversal
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16800000 usd
CY2022Q4 gpn Check Guarantee Claims Receivable Allowance For Credit Loss
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CY2021Q4 gpn Check Guarantee Claims Receivable Allowance For Credit Loss
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2500000 usd
CY2022 gpn Check Guarantee Claims Receivable Allowance For Credit Loss Expense Reversal
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12300000 usd
CY2021 gpn Check Guarantee Claims Receivable Allowance For Credit Loss Expense Reversal
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10200000 usd
CY2020 gpn Check Guarantee Claims Receivable Allowance For Credit Loss Expense Reversal
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10100000 usd
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CY2021Q4 us-gaap Equity Method Investments
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976400000 usd
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CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1294000 shares
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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293669000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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44502000 usd
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209400000 usd
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
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207100000 usd
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CY2022Q4 us-gaap Revenue Remaining Performance Obligation
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CY2022Q4 us-gaap Revenue Remaining Performance Obligation
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CY2022Q4 us-gaap Revenue Remaining Performance Obligation
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CY2022Q4 us-gaap Revenue Remaining Performance Obligation
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CY2022Q4 us-gaap Revenue Remaining Performance Obligation
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CY2022Q4 us-gaap Revenue Remaining Performance Obligation
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2505800000 usd
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1367860000 usd
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
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1196623000 usd
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1838809000 usd
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1687586000 usd
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CY2021 us-gaap Asset Impairment Charges
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CY2021Q4 us-gaap Goodwill
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CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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4552506000 usd
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CY2021Q4 us-gaap Finite Lived Intangible Assets Net
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23759740000 usd
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80152000 usd
CY2020 us-gaap Goodwill Foreign Currency Translation Gain Loss
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68730000 usd
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CY2021Q4 us-gaap Goodwill Gross
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3296000 usd
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17719000 usd
CY2022 us-gaap Goodwill Impairment Loss
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833075000 usd
CY2022 us-gaap Goodwill Transfers
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0 usd
CY2022 us-gaap Goodwill Written Off Related To Sale Of Business Unit
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529541000 usd
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-20239000 usd
CY2022Q4 us-gaap Goodwill Gross
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23320736000 usd
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
833100000 usd
CY2021Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
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0 usd
CY2022 us-gaap Amortization Of Intangible Assets
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1263000000 usd
CY2021 us-gaap Amortization Of Intangible Assets
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1295000000 usd
CY2020 us-gaap Amortization Of Intangible Assets
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1256900000 usd
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1210371000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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1157755000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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1092260000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
960261000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
744011000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
360483000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
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494082000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
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66780000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
85281000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
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35267000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
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31365000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
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31513000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
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53916000 usd
CY2022Q4 gpn Lease Rightof Use Asset
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391996000 usd
CY2021Q4 gpn Lease Rightof Use Asset
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547998000 usd
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CY2021Q4 us-gaap Operating Lease Liability Current
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103554000 usd
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439580000 usd
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550726000 usd
CY2022Q4 us-gaap Finance Lease Liability Current
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12883000 usd
CY2021Q4 us-gaap Finance Lease Liability Current
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19905000 usd
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19552000 usd
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
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44516000 usd
CY2022Q4 gpn Lease Liability
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552223000 usd
CY2021Q4 gpn Lease Liability
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718701000 usd
CY2022 gpn Proportionof Operating Lease Rightof Use Assets Locatedin Domestic Country
ProportionofOperatingLeaseRightofUseAssetsLocatedinDomesticCountry
0.73
CY2021 gpn Proportionof Operating Lease Rightof Use Assets Locatedin Domestic Country
ProportionofOperatingLeaseRightofUseAssetsLocatedinDomesticCountry
0.75
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CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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0.032
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0.032
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CY2022Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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13729000 usd
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CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Two
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11522000 usd
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CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Three
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63463000 usd
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1820000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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243059000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due After Year Five
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2022Q4 us-gaap Finance Lease Liability Payments Due
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33813000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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91821000 usd
CY2022Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
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1378000 usd
CY2022Q4 us-gaap Operating Lease Liability
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519788000 usd
CY2022Q4 us-gaap Finance Lease Liability
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32435000 usd
CY2022Q4 gpn Lessee Operating Lease Lease Not Yet Commenced Undiscounted Amount
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4300000 usd
CY2022 us-gaap Operating Lease Cost
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CY2022 us-gaap Variable Lease Cost
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CY2022 gpn Finance Lease Cost
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18100000 usd
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
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CY2022 us-gaap Finance Lease Interest Expense
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1400000 usd
CY2021 us-gaap Operating Lease Cost
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195600000 usd
CY2021 us-gaap Variable Lease Cost
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18100000 usd
CY2021 gpn Finance Lease Cost
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20500000 usd
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
18400000 usd
CY2021 us-gaap Finance Lease Interest Expense
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2200000 usd
CY2020 us-gaap Operating Lease Cost
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147000000 usd
CY2020 us-gaap Variable Lease Cost
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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CY2021Q4 gpn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Right Of Use Asset
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CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Capital Lease Obligation
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5800000 usd
CY2022Q4 gpn Operating Lease Right Of Use Asset And Liability Termination
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44200000 usd
CY2022Q4 gpn Financing Lease Right Of Use Asset And Liability Termination
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9700000 usd
CY2022Q4 us-gaap Finance Lease Liability
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32435000 usd
CY2021Q4 us-gaap Finance Lease Liability
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CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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CY2022Q4 us-gaap Long Term Debt
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CY2020 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
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CY2021Q4 us-gaap Derivative Liabilities Current
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CY2021Q4 gpn Employee Termination Benefits Obligation
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EmployeeBenefitsAndShareBasedCompensation
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CY2020 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
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CY2022 us-gaap Current Federal Tax Expense Benefit
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IncomeTaxExpenseBenefit
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CY2022Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
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CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2022 gpn Effective Income Tax Rate Reconciliation Deemed Royalty Percent
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CY2021 gpn Effective Income Tax Rate Reconciliation Deemed Royalty Percent
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CY2020 gpn Effective Income Tax Rate Reconciliation Deemed Royalty Percent
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CY2022 gpn Effective Income Tax Rate Reconciliation Equity Method Investment Income Percent
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
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CY2022 gpn Effective Income Tax Rate Reconciliation Foreign Interest Income Not Subjectto Tax Percent
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CY2021 gpn Effective Income Tax Rate Reconciliation Foreign Interest Income Not Subjectto Tax Percent
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CY2022Q4 gpn Deferred Tax Assets Leasing Arrangements
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CY2021Q4 gpn Deferred Tax Assets Leasing Arrangements
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CY2022Q4 us-gaap Deferred Tax Assets Investments
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CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
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CY2022Q4 us-gaap Deferred Tax Assets Other
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CY2021Q4 us-gaap Deferred Tax Assets Other
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CY2022Q4 us-gaap Deferred Tax Assets Gross
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CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
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Files In Submission

Name View Source Status
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