FIS 10-Q: Senior Notes and Financial Details

TL;DR

FIS 10-Q out: Lots of senior notes maturing from 2025-2031. Check your positions.

AI Summary

Fidelity National Information Services, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details various financial instruments, including common stock and several series of senior notes with varying interest rates and maturity dates, such as the 0.625% Senior Notes due 2025 and the 3.360% Senior Notes due 2031. The company is based in Jacksonville, Florida.

Why It Matters

This filing provides investors with a detailed look at Fidelity National Information Services's outstanding debt obligations and equity structure as of mid-2024, crucial for assessing financial health and risk.

Risk Assessment

Risk Level: medium — The company has multiple series of senior notes with varying interest rates and maturity dates, indicating significant debt obligations that could pose financial risk.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 20240806 — Filing Date (Date the report was officially submitted to the SEC.)

Key Players & Entities

• Fidelity National Information Services, Inc. (company) — Filer of the 10-Q
• 0.625% Senior Notes Due Two Thousand Twenty-Five (dollar_amount) — Specific debt instrument
• 3.360% Senior Notes Due Two Thousand Thirty-One (dollar_amount) — Specific debt instrument
• Jacksonville, FL (location) — Company headquarters

FAQ

Key Financial Figures

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

Filing Documents

• fis-20240630.htm (10-Q) — 1930KB
• exhibit101-redactedxexhibi.htm (EX-10.1) — 133KB
• exhibit102-redactedxexhibi.htm (EX-10.2) — 120KB
• exhibit103-exhibitg1xrsuag.htm (EX-10.3) — 109KB
• exhibit104-redactedxexhibi.htm (EX-10.4) — 136KB
• exhibit105-redactedxexhibi.htm (EX-10.5) — 164KB
• exhibit311q22024.htm (EX-31.1) — 11KB
• exhibit312q22024.htm (EX-31.2) — 10KB
• exhibit321q22024.htm (EX-32.1) — 6KB
• exhibit322q2024.htm (EX-32.2) — 5KB
• 0001136893-24-000113.txt ( ) — 11035KB
• fis-20240630.xsd (EX-101.SCH) — 58KB
• fis-20240630_cal.xml (EX-101.CAL) — 128KB
• fis-20240630_def.xml (EX-101.DEF) — 350KB
• fis-20240630_lab.xml (EX-101.LAB) — 785KB
• fis-20240630_pre.xml (EX-101.PRE) — 553KB
• fis-20240630_htm.xml (XML) — 1814KB

: 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 7 Notes to Condensed Consolidated Financial Statements 8

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 31

Quantitative and Qualitative Disclosure About Market Risks

Item 3. Quantitative and Qualitative Disclosure About Market Risks 41

Controls and Procedures

Item 4. Controls and Procedures 42

: OTHER INFORMATION

Part II: OTHER INFORMATION

Risk Factors

Item 1A. Risk Factors 42

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42

Other Information

Item 5. Other Information 42

Exhibits

Item 6. Exhibits 42

Signatures

Signatures 45 1 FIDELITY NATIONAL INFORMATION SERVICES, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (In millions, except per share amounts) (Unaudited) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 2,131 $ 440 Settlement assets 530 617 Trade receivables, net of allowance for credit losses of $ 41 and $ 31 , respectively 1,675 1,730 Other receivables 337 287 Receivable from related party 169 — Prepaid expenses and other current assets 612 603 Current assets held for sale 997 10,111 Total current assets 6,451 13,788 Property and equipment, net 645 695 Goodwill 16,979 16,971 Intangible assets, net 1,508 1,823 Software, net 2,178 2,115 Equity method investment 4,086 — Other noncurrent assets 1,591 1,528 Deferred contract costs, net 1,143 1,076 Noncurrent assets held for sale 17 17,109 Total assets $ 34,598 $ 55,105 LIABILITIES AND EQUITY Current liabilities: Accounts payable, accrued and other liabilities $ 1,854 $ 1,859 Settlement payables 541 635 Deferred revenue 864 832 Short-term borrowings — 4,760 Current portion of long-term debt 578 1,348 Current liabilities held for sale 949 8,884 Total current liabilities 4,786 18,318 Long-term debt, excluding current portion 10,584 12,970 Deferred income taxes 833 2,179 Other noncurrent liabilities 1,354 1,446 Noncurrent liabilities held for sale — 1,093 Total liabilities 17,557 36,006 Equity: FIS stockholders' equity: Preferred stock $ 0.01 par value; 200 shares authorized, none issued and outstanding as of June 30, 2024, and December 31, 2023 — — Common stock $ 0.01 par value, 750 shares authorized, 633 and 631 shares issued as of June 30, 2024, and December 31, 2023, respectively 6 6 Additional paid in capital 47,024 46,935 (Accumulated deficit) retained earnings ( 22,304 ) ( 22,864 ) Accumulated other comprehensive earnings (loss) ( 413 ) ( 260 ) Treasury stock, $ 0.01 par value, 84 and 48 common shares as of June 30

View Full Filing

View this 10-Q filing on SEC EDGAR