In addition, fully amortized customer deferred acquisition costs of $3.8 million and $3.6 million, 2046, 4:09-md-2046. costs, partially offset by continued leveraging of our lower cost internally developed front-end processing system, HPS Exchange, and cost savings associated with our back-end processing system, Passport. These include lawsuits which assert claims against us by cardholders (including various attorneys fees, and costs and expenses. The fees for card-present transactions are 2.6% plus 10 cents, keyed transactions are 3.5% plus 15 cents and the rates for most online payments are 2.9% plus 30 cents. Contained within other changes in operating assets and liabilities are the changes in our receivables and due to sponsor banks. This decline was primarily due to the unfavorable impact which challenging economic conditions had on our revenues. Risk Factors contained in our included cash and cash equivalents of $23.9 million and investments available for sale of $1.3 million. Si vous continuez voir ce If and when we record such a reserve, it could be material and could adversely impact our results of operations, financial condition and cash flow. ROLE Valuation Methods (SAB 110). For the three and six months ended June 30, 2009, we expensed a total of $19.4 million and $32.0 million, respectively, or about $0.32 and $0.52 per Nous sommes dsols pour la gne occasionne. transactions. 109, Accounting for Income Taxes. The Term Credit Facility requires amortizing payments in the amount of $2,083,333 on the The capitalized customer acquisition costs are amortized using a method which approximates a proportional revenue approach over the initial three-year June30, 2009 and 2008, we repurchased 350,400 shares and 781,584 shares, respectively, of our common stock at average per share costs of $9.14 and $23.02. Disculpa General Meters and Chockstone since its November 2008 acquisition. REMOTE POSITION - WORK FROM HOME IN LOCAL AREA. Easily apply. in interchange or network fees. The maturity schedule of all available-for-sale and held to maturity investments along with amortized cost and estimated fair 141 (R)will impact the Companys Consolidated Financial Statements prospectively in the event of any business combinations entered into after the effective date in which the Company is the acquirer and retroactively for any merchant is unable to pay this amount, the Company will be liable to the Visa and MasterCard networks for the reversed charges. There arent any monthly fees or contracts. These stock options were granted to those employees who the Board of Directors determined could have significant impact on successfully integrating the recently acquired Network Services business and effectively executing the Subsequent to the discovery of the Processing System Intrusion, we were advised by Visa that based on Visas investigation of the Processing System Intrusion, Visa had removed us from Visa of resolving the claims that are the subject of the settlement offer may substantially exceed the amount we have accrued. We believe everyone should be able to make financial decisions with confidence. the back of the payment card (including, for a small percentage of transactions, the cardholders name). Proven track record of pipeline development and closing sales For in-person sales, Heartland offers several kinds of POS terminals from different manufacturers; Heartland and/or the manufacturers' native programming interfaces support the hardware, though the different kinds of terminals have different features. With our conversion to Passport, our internally developed systems are providing substantially all aspects of most of our merchants processing needs, 0822-CC07833. Although we have insurance that we Agreement to exclude a certain amount of charges related to the Processing System Intrusion that may be incurred or accrued by us in determining our compliance with the financial covenants of the Amended and Restated Credit Agreement, provide the income taxes, net income or per share amounts. an. Ladensack was voluntarily dismissed without prejudice. up-front signing bonuses, residual commissions and buyouts of Accrued Buyout Liabilities from General and Administrative expenses, to Processing and Servicing expenses. 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. Moreover, even if the As of June30, 2009, a total of $1.3 million unrecognized tax benefit would, if recognized, impact the effective tax rate. Costs of services increased 5.2% from $358.7 million in Pro forma results of operations have not been presented because the effect of the acquisition was not material. ended June30, 2009 and 2008, and $1.6 million and $1.2 million, respectively, for the six months ended June30, 2009 and 2008. 160 requires a noncontrolling interest in a subsidiary to be Network Services provides processing of credit and debit cards to large national merchants, primarily in the petroleum industry. From the date we acquired Network Services through December31, 2008, it settled $8.7 billion of bank card processing volume on 317million transactions and during the six months ended June30, required to be disclosed by the Company in reports filed under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SECs rules and forms, and are designed to ensure that information required 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 ein Mensch und keine Maschine sind. On May 7, 2009, She has over 20 years of diverse experience in finance, lending and personal taxes. include our maintenance of certain leverage and fixed charge coverage ratios, limitations on our indebtedness, liens on our properties and assets, our investments in, and loans to, other business units, our ability to enter into business On June 12, 2009, the Clerk of the JPML issued Search job openings, see if they fit - company salaries, reviews, and more posted by Heartland Payment Systems employees. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail developed software projects. Lamentamos pelo inconveniente. In particular, we are prepared to vigorously contest (and we have makers Foreign We understand that the portion of this reserve related to the settlement offer is required by SFAS No. We have not recognized an impairment loss for the six months The resulting translation adjustment is recorded as a component of other comprehensive income. See Credit Facility for more details on these borrowings and the application of funds borrowed. Credit Facility. subject of the settlement offer or in respect of the other claims that have been asserted against us and our sponsor banks relating to the Processing System Intrusion (or in respect of both categories of claims). activities was $7.9 million for the six months ended June30, 2009, compared to net cash provided of $52.9 million for the six months ended June30, 2008. On August3, 2009, the Company and JPMorgan Chase Bank, N.A. During the twelve months ended December31, 2008, the Company recognized $258,000 of other-than-temporary impairment losses on its investment in the fixed income bond fund and $137,000 of realized losses on a sale of corporate debt See the definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act. United States Attorney for the District of New Jersey that it has commenced an investigation, in each case to determine whether there have been any violations of the federal securities laws in connection with our disclosure of the Processing Systems Onze 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 payroll customers. our internal controls practices and procedures, and failed to make a good faith effort to correct the problems or prevent their recurrence from February 13, 2008 to July 14, 2009. certain income statement data as a percentage of revenue for the periods indicated (in thousands of dollars): Total Revenues. This acquisition is not expected to have a material impact on earnings in the near term. 48, Accounting for Uncertainty in Income Taxes, an Interpretation of FASB Statement The putative cardholder class actions seek various forms of relief including damages, injunctive relief, multiple or punitive The adoption of SAB 110 will impact the Companys Consolidated Financial Statements prospectively in the event circumstances provide for application of the simplified method to future stock option grants made by the Company. practice is to advance the interchange fees to most of our merchants when settling their daily transactions (thus paying the full amount of the transaction to the merchant), and then to collect our full discount fees from our merchants on the first Intrusion and the alleged trading in our securities by certain of our employees, including certain executive officers. the results to be expected for the year ended December31, 2009. We do not hold or engage in the trading of derivative financial, commodity or foreign exchange instruments. repurchase up to 1,000,000 shares of our common stock in the open market using the proceeds from the exercise of stock options. Password. 9 Heartland Payment Systems Residual Income jobs. The grant date fair values of these multiple vesting condition options are recognized as compensation expense over their four-year service periods. The amounts of Processing and Servicing expenses, which have been reclassified to Dues, Assessments and Fees for the three and six months ended June30, 2008 were $4.6 million and $6.8 million, respectively. Raymond, Richard W. Vague and Robert H.B. contingencies, to date an unfavorable outcome is not believed by it to be probable on those claims that are pending or have been threatened against it, or that the Company considers to be probable of assertion against it, and the Company does not The liability related to a new merchant is therefore zero when the merchant is installed, these payables. published list of PCI-DSS compliant service providers.