Fidelity National Information Services, Inc. Files 2023 Annual Report

TL;DR

<b>Fidelity National Information Services, Inc. has filed its 2023 10-K annual report detailing its financial performance and business operations.</b>

AI Summary

Fidelity National Information Services, Inc. (FIS) filed a Annual Report (10-K) with the SEC on February 26, 2024. Fidelity National Information Services, Inc. (FIS) filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is 347 Riverside Avenue, Jacksonville, FL 32202. FIS was formerly known as Certegy Inc. and Equifax PS Inc. The report includes financial data for the fiscal years 2023, 2022, and 2021.

Why It Matters

For investors and stakeholders tracking Fidelity National Information Services, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of FIS's financial health, operational performance, and strategic direction for the fiscal year 2023, crucial for investors and stakeholders to assess the company's current standing and future prospects. Understanding the details within this report is essential for evaluating FIS's market position, potential risks, and overall value, especially given its significant role in the financial services technology sector.

Risk Assessment

Risk Level: — Fidelity National Information Services, Inc. shows moderate risk based on this filing. The company's financial performance and strategic decisions, as detailed in the 10-K, will determine its ability to navigate market challenges and achieve growth objectives, making its financial health a key risk indicator.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to assess FIS's financial stability and strategic execution for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-26 — Filing Date (Date of submission)
• 001-16427 — SEC File Number (SEC registration number)

Key Players & Entities

• Fidelity National Information Services, Inc. (company) — Filer name
• FIS (company) — Abbreviated company name
• Certegy Inc. (company) — Former company name
• Equifax PS Inc. (company) — Former company name
• 347 Riverside Avenue, Jacksonville, FL 32202 (company) — Business address

FAQ

Industry Context

Fidelity National Information Services, Inc. operates within the business services sector, providing technology solutions to the financial services industry.

Regulatory Implications

The company is subject to SEC regulations and reporting requirements, including the filing of annual 10-K reports.

What Investors Should Do

1. Analyze the financial statements for revenue trends, profitability, and debt levels.
2. Review the business description and risk factors to understand operational challenges and strategic initiatives.
3. Compare key financial metrics with previous years to identify performance changes.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-26: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the annual report for fiscal year 2023, providing updated financial and operational data compared to previous filings.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share FIS New York Stock Exchange
• $54.70 — ,008 based on the closing sale price of $54.70 on that date as reported by the New Yor

Filing Documents

• fis-20231231.htm (10-K) — 2800KB
• exhibit426descriptionof202.htm (EX-4.26) — 152KB
• exhibit211listofsubsidiari.htm (EX-21.1) — 170KB
• exhibit231kpmgconsent-2023.htm (EX-23.1) — 2KB
• exhibit31110k2023.htm (EX-31.1) — 11KB
• exhibit31210k2023.htm (EX-31.2) — 10KB
• exhibit32110k2023.htm (EX-32.1) — 6KB
• exhibit32210k2023.htm (EX-32.2) — 6KB
• exhibit970308excessincen.htm (EX-97) — 13KB
• exhibit970308excessincen001.jpg (GRAPHIC) — 64KB
• exhibit970308excessincen002.jpg (GRAPHIC) — 259KB
• exhibit970308excessincen003.jpg (GRAPHIC) — 304KB
• exhibit970308excessincen004.jpg (GRAPHIC) — 183KB
• fis-20231231_g1.jpg (GRAPHIC) — 101KB
• 0001136893-24-000015.txt (&nbsp;) — 16632KB
• fis-20231231.xsd (EX-101.SCH) — 91KB
• fis-20231231_cal.xml (EX-101.CAL) — 168KB
• fis-20231231_def.xml (EX-101.DEF) — 472KB
• fis-20231231_lab.xml (EX-101.LAB) — 1214KB
• fis-20231231_pre.xml (EX-101.PRE) — 822KB
• fis-20231231_htm.xml (XML) — 2534KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 12 Item 1B. Unresolved Staff Comments 27

C

Item 1 C . Cybersecurity 27 Item 2.

Properties

Properties 28 Item 3.

Legal Proceedings

Legal Proceedings 28 Item 4. Mine Safety Disclosures 28 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28 Item 6. Reserved 30 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 43 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 93 Item 9A.

Controls and Procedures

Controls and Procedures 93 Item 9B. Other Information 93 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 93 PART III Item 10. Directors and Executive Officers of the Registrant 93 Item 11.

Executive Compensation

Executive Compensation 93 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 93 Item 13. Certain Relationships and Related Transactions, and Director Independence 93 Item 14 . Principal Accounting Fees and Services 93 PART IV Item 15. Exhibits and Financial Statement Schedules 93 Item 16. Form 10-K Summary 102

Signatures

Signatures 103 1 Table of Contents Unless stated otherwise or the context otherwise requires, all references to "FIS," "we," "our," "us," the "Company" or the "registrant" are to Fidelity National Information Services, Inc., a Georgia corporation, and its subsidiaries. Also, amounts in tables may not sum or calculate due to rounding. PART I

Business

Item 1. Business Overview FIS is a leading global provider of financial services technology solutions for financial institutions, businesses and developers. We improve the digital transformation of our financial economy, advancing the way the world pays, banks and invests. We provide the confidence made possible when reliability meets innovation, helping our clients run, grow and protect their business. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500 and the Standard & Poor's 500 Index. FIS is incorporated under the laws of the State of Georgia as Fidelity National Information Services, Inc., and our stock is traded under the trading symbol "FIS" on the New York Stock Exchange. Our growth has been driven by a number of factors, including growth of our customers' businesses, our internal development of new solutions that enhance our client offerings, and our sales and marketing efforts to expand our customer base and addressable markets. Acquisitions have also contributed additional solutions that complement or enhance our offerings, diversify our client base, expand our geographic coverage, and provide entry into new and attractive adjacent markets that align with our strategic objectives. We continue to strategically allocate resources to both internal and external growth initiatives to enhance the long-term value of our business. On January 31, 2024, the Company completed the previously announced sale (the "Worldpay Sale") of a 55% equity interest in its Worldpay Merchant Solutions business to private equity funds managed by GTCR (such funds, the "Buyer"). As of the closing, we retained a non-controlling 45% ownership interest in a new standalone joint venture (the "Joint Venture" or "Worldpay"), which will continue to provide merchant acquiring and related services to businesses of all size and across any industry globally, enabling them to accept, authorize and settle electronic payment transactions. In connection with the Worl

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View this 10-K filing on SEC EDGAR