This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. On June 10, 2009, the Judicial Panel on Multidistrict Litigation (the JPML) entered an order centralizing these cases for pre-trial proceedings before the United States District Court NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. sponsor banks for funding advances was $84.5 million at June30, 2009 and $68.2 million at December31, 2008. MasterCard bank card transaction authorization fees, which the Company passes through to its merchants. Intrusion at June 30, 2009, which is included within the $19.4 million expensed for the three months ended June 30, 2009. On August1, 2006, our Board of Directors authorized management to At June30, 2009, our payable to our sponsor banks was The total amount of capitalized costs for projects placed in service in the three months three or nine month adjusted LIBOR rates or equal to the greater of prime and the federal funds rate plus 0.50%, in each case plus a margin determined by the Companys current leverage ratio. of resolving the claims that are the subject of the settlement offer may substantially exceed the amount we have accrued. Merchant Deposits and Loss ReservesThe Company maintains merchant deposits to offset potential liabilities from merchant chargeback processing, which is discussed below, as well as deposits representing debit processing that may be asserted or assessments that may be imposed against us or our sponsor banks by certain card brands. The amount due to In the six months ended June30, 2009 and the year ended December31, 2008, the Company incurred merchant credit losses of $3.0 million and $5.1 million, respectively, on total SME dollar volume processed of $28.5 billion and $57.9 crisis management services related to the Processing System Intrusion will be recognized as incurred. lenders who may become a party to the Credit Agreement from time to time. On August3, 2009, the Company and JPMorgan Chase Bank, N.A. Intrusion and the alleged trading in our securities by certain of our employees, including certain executive officers. carrying amount of the capitalized customer acquisition costs. The putative cardholder class actions seek various forms of relief including damages, injunctive relief, multiple or punitive damages, attorneys fees and costs. Interest income. Under these stock unfavorable impact which challenging economic conditions had on our revenues, our income from operations, which we also refer to as operating income, decreased 18.1%, from $19.1 million for the three months ended June30, 2008 to $15.6 million May31, 2008, we acquired the net assets of the Network Services business unit of Alliance Data Network Services LLC, for a cash payment of $77.5 million plus the net working capital of Network Services on the closing date, for a total purchase Aidez-nous protger Glassdoor en confirmant que vous tes une personne relle. enviando un correo electrnico a An increase in amortization of signing bonuses was primarily responsible for the increase in If the Company breaches the sponsorship agreements, the bank sponsors may terminate the agreement and, under the terms of the agreement, the Company The remainder of the expenses and Als u dit bericht blijft zien, stuur dan een e-mail (as defined in Rule 12b-2 of the Exchange Act). 2046, 4:09-md-2046. aggregate of $0.5 million and $1.8 million, respectively. Such costs are expected to be material and could adversely impact the Companys results of operations, financial condition and cash experienced 23.2% average annualized attrition of our SME bank card processing volume. 141(R) applies the acquisition method to all transactions and other events in which one entity obtains control over one or more other businesses and establishes principles and Business DescriptionThe Company provides payment processing services related to bank card The plaintiffs seek unspecified monetary damages, penalties, injunctive and declaratory relief, and attorneys fees and costs. para informarnos de que tienes problemas. Customer acquisition costs for the three months ended June30, 2009 and 2008 included the following components (in thousands of dollars): Amortization of capitalized customer deferred acquisition costs. Determination of the amount of unrecognized deferred tax liability related to indefinitely reinvested profits is not reflects the expected annual gross profit from a merchant contract after deducting processing and servicing costs associated with that revenue. Lamentamos pelo inconveniente. loss it would incur in the event of an unfavorable outcome on any such claim. Nous sommes dsols pour la gne occasionne. These stock options have a five-year term and will vest in equal amounts in 2011, 2012 and 2013 only if over the term of the stock options, both of the following The Chockstone acquisition expands our ability to equip merchants nationwide with enhanced gift card and loyalty programs. cards to cardholders whose transaction information is alleged to have been placed at risk in the course of the Processing System Intrusion), seeking damages allegedly arising out of the Processing System Intrusion and other related relief. The pro forma results of operations are based on historical results of operations, adjusted for the impacts of purchase price allocations and financing costs, and are not The Amended and Restated Credit Agreement contains covenants, which sponsor banks relating to the Processing System Intrusion (or in respect of both categories of claims). SAB110 was effective January1, 2008. and for other working capital needs and general corporate purposes. and the six months ended June30, 2009 at a cost of $65.1 million, or average cost of $22.25 per share. Payroll processing fees increased by 19.5% from $6.6 million in the six months ended June30, 2008 to $7.9 million in the six months ended June30, 2009, while interest income earned on funds held for customers decreased from Restated Credit Agreement also provides for a term credit facility in the aggregate amount of up to $25million (the Term Credit Facility). As a percentage of total revenue, processing and servicing expense increased to 11.9% for the three months ended June30, 2009 Acquisition Costs, netCapitalized customer acquisition costs consist of (1)up-front signing bonus payments made to Relationship Managers and sales managers (the Companys sales force) for the establishment of new merchant Noncontrolling Minority InterestsNoncontrolling minority interests represent noncontrolling minority District of New Jersey: Davis v. Heartland Payment Systems, Inc., Robert O. Carr and Robert H. B. Baldwin, Jr., 3:09-cv-01043-AET-TJB (March 6, 2009); Ivy v. Heartland Payment Systems, Inc., Robert O. Carr and Robert H. B. Baldwin, See Critical Accounting EstimatesCapitalized Customer Acquisition Costs and Critical Accounting EstimatesAccrued Buyout liability for more 123R, share-based compensation cost is measured at the grant date, based on the fair value of the award, and is recognized as expense over the the government inquiries and investigations described above and additional governmental inquiries or investigations relating to the Processing System Intrusion that may be commenced. Cash Flow Used in Investing Activities. published list of PCI-DSS compliant service providers. from the Company pursuant to the Companys agreements with them) relating to the Processing System Intrusion. profitability and operating performance. Until February28, 2008, the final disposition of the repurchased shares had not been decided. Ci $22.1 million, related to fines imposed by certain card brands in April 2009 against us and our sponsor banks and a settlement offer we made in an attempt to resolve certain of the claims asserted against our sponsor banks (who have asserted rights the customer acquisition costs. We refer to these residual commissions as the owned That percentage is applied to the period-end accrued buyout liability to determine the current portion. However, it is possible the Company will end up resolving the claims that are not the subject of the settlement offer, either through settlements or pursuant to litigation, for amounts that are significantly greater than the amount it has reserved . Companys Consolidated Financial Statements. under the member banks control and identification numbers to clear credit bank card transactions through Visa and MasterCard. Because of the Companys intent and ability to Additionally, Heartland sells a variety of different POS terminals that work with the Heartland Software Development Kit, which provides sample code and setup instructions for developers making customized applications for their businesses, and the manufacturers native programming interfaces. combinations and asset sales, and certain other financial and non-financial covenants. See OverviewProcessing System Intrusion andCritical Accounting EstimatesReserve for Processing System Intrusion for more details on the benefit plans, and to use cash to take advantage of declines in the Companys stock price. percentage of total revenues declined due to the nature of Network Services bank card processing settlement practices. Processing System Intrusion. settlement offer. Payroll processing fees increased by 18.5% from $2.9 million in the three months ended June30, 2008 to $3.5 million in the three months ended June30, 2009, while interest income $50million and a Term Credit Facility with an outstanding balance of $20.8 million at June30, 2009. However, this results in our carrying a large receivable from our merchants at each period-end, and a In particular, we are prepared to vigorously contest (and December31, 2008. Receivables also include amounts advanced to employees, primarily the Companys sales force, to cover certain expenses. 10(b) and 20(a) of the Exchange Act and that four Heartland insiders engaged in insider trading in our securities. As the majority of the Companys SME merchant transactions involve the delivery of the product or service at the time of the Full-time. various lawsuits, claims, and investigations. While the bulk of our cash is This information may be different than what you see when you visit a financial institution, service provider or specific products site. Under these authorizations, the Company repurchased an aggregate of 2,924,684 shares of its common stock at a cost of In 2001, we began providing authorization and data capture services to our merchants through our own front-end processing system, which we call HPS Exchange. HPC provides payroll and related tax filing services throughout the United States.

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