Fidelity National Information Services, Inc. Files 10-Q for Q1 2024

TL;DR

<b>Fidelity National Information Services, Inc. (FIS) has filed its Q1 2024 10-Q report.</b>

AI Summary

Fidelity National Information Services, Inc. (FIS) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Filing is a 10-Q for the period ending March 31, 2024. Company name is Fidelity National Information Services, Inc. Filed as of May 7, 2024. Previous company names include CERTEGY INC and EQUIFAX PS INC. The filing includes details on various senior notes with different interest rates and maturity dates.

Why It Matters

For investors and stakeholders tracking Fidelity National Information Services, Inc., this filing contains several important signals. This 10-Q filing provides the latest quarterly financial performance and operational updates for FIS. Investors and analysts can use this report to assess the company's financial health, profitability, and strategic direction.

Risk Assessment

Risk Level: medium — Fidelity National Information Services, Inc. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information. However, the absence of specific financial performance data in the provided text limits a deeper risk assessment.

Analyst Insight

Review the full 10-Q filing for detailed financial statements, management discussion, and risk factors to understand FIS's current performance and outlook.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-07 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (Fiscal quarter start date)

Key Players & Entities

• Fidelity National Information Services, Inc. (company) — Filer name
• CERTEGY INC (company) — Former company name
• EQUIFAX PS INC (company) — Former company name
• 347 RIVERSIDE AVENUE (location) — Business and mail address
• JACKSONVILLE (location) — Business and mail city
• FL (location) — Business and mail state
• 32202 (location) — Business and mail zip

FAQ

Industry Context

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

Regulatory Implications

As a public company, FIS is subject to SEC regulations and reporting requirements, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue, expenses, and profitability trends.
2. Examine the Management's Discussion and Analysis (MD&A) section for insights into business performance and outlook.
3. Review any disclosed risk factors and legal proceedings to understand potential challenges.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q
• 2024-05-07: Filing Date — Date the 10-Q was officially filed with the SEC

Year-Over-Year Comparison

This is the Q1 2024 10-Q filing, providing an update from the previous fiscal year-end filings.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share FIS New York Stock Exchange

Filing Documents

• fis-20240331.htm (10-Q) — 1341KB
• ex101fis-qualifiedretireme.htm (EX-10.1) — 54KB
• exhibit311q12024.htm (EX-31.1) — 11KB
• exhibit312q12024.htm (EX-31.2) — 10KB
• exhibit321q12024.htm (EX-32.1) — 6KB
• exhibit322q12024.htm (EX-32.2) — 5KB
• 0001136893-24-000063.txt (&nbsp;) — 8442KB
• fis-20240331.xsd (EX-101.SCH) — 58KB
• fis-20240331_cal.xml (EX-101.CAL) — 127KB
• fis-20240331_def.xml (EX-101.DEF) — 345KB
• fis-20240331_lab.xml (EX-101.LAB) — 756KB
• fis-20240331_pre.xml (EX-101.PRE) — 540KB
• fis-20240331_htm.xml (XML) — 1206KB

: FINANCIAL INFORMATION

Part I: FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Earnings (Loss) 3 Condensed Consolidated Statements of Comprehensive Earnings (Loss) 4 Condensed Consolidated Statements of Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7

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

Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 25

Quantitative and Qualitative Disclosure About Market Risks

Item 3. Quantitative and Qualitative Disclosure About Market Risks 34

Controls and Procedures

Item 4. Controls and Procedures 35

: OTHER INFORMATION

Part II: OTHER INFORMATION

Risk Factors

Item 1A. Risk Factors 36

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36

Other Information

Item 5. Other Information 36

Exhibits

Item 6. Exhibits 36

Signatures

Signatures 38 1 FIDELITY NATIONAL INFORMATION SERVICES, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (In millions, except per share amounts) (Unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 3,329 $ 440 Settlement assets 585 617 Trade receivables, net of allowance for credit losses of $ 39 and $ 31 , respectively 1,685 1,730 Other receivables 321 287 Receivable from related party 153 — Prepaid expenses and other current assets 623 603 Current assets held for sale 942 10,111 Total current assets 7,638 13,788 Property and equipment, net 668 695 Goodwill 16,974 16,971 Intangible assets, net 1,682 1,823 Software, net 2,133 2,115 Equity method investment 4,131 — Other noncurrent assets 1,521 1,528 Deferred contract costs, net 1,105 1,076 Noncurrent assets held for sale 19 17,109 Total assets $ 35,871 $ 55,105 LIABILITIES AND EQUITY Current liabilities: Accounts payable, accrued and other liabilities $ 2,036 $ 1,859 Settlement payables 607 635 Deferred revenue 906 832 Short-term borrowings — 4,760 Current portion of long-term debt 587 1,348 Current liabilities held for sale 894 8,884 Total current liabilities 5,030 18,318 Long-term debt, excluding current portion 10,607 12,970 Deferred income taxes 877 2,179 Other noncurrent liabilities 1,332 1,446 Noncurrent liabilities held for sale — 1,093 Total liabilities 17,846 36,006 Equity: FIS stockholders' equity: Preferred stock $ 0.01 par value; 200 shares authorized, none issued and outstanding as of March 31, 2024, and December 31, 2023 — — Common stock $ 0.01 par value, 750 shares authorized, 632 and 631 shares issued as of March 31, 2024, and December 31, 2023, respectively 6 6 Additional paid in capital 46,968 46,935 (Accumulated deficit) retained earnings ( 22,347 ) ( 22,864 ) Accumulated other comprehensive earnings (loss) ( 432 ) ( 260 ) Treasury stock, $ 0.01 par value, 69 and 48 common shares as of Marc

View Full Filing

View this 10-Q filing on SEC EDGAR