Fidelity National Information Services : Q2 2022 GAAP/Non-GAAP Measurers and Reconciliations 381.1 KB

Supplemental Financial Data and GAAP to Non-GAAP Reconciliations

Second Quarter 2022

	Fidelity National Information Services, Inc.
	Earnings Release Supplemental Financial Information
	August 4, 2022
Exhibit A	Condensed Consolidated Statements of Earnings - Unaudited for the three and six months ended June 30,
	2022 and 2021
Exhibit B	Condensed Consolidated Balance Sheets - Unaudited as of June 30, 2022, and December 31, 2021
Exhibit C	Condensed Consolidated Statements of Cash Flows - Unaudited for the six months ended June 30, 2022 and
	2021
Exhibit D	Supplemental Non-GAAP Financial Information - Unaudited for the three and six months ended June 30,
	2022 and 2021
Exhibit E	Supplemental GAAP to Non-GAAP Reconciliations - Unaudited for the three and six months ended June 30,
	2022 and 2021
Exhibit F	Supplemental GAAP to Non-GAAP Reconciliations on Guidance - Unaudited for the three months ended
	September 30, 2022, and full year ended December 31, 2022

FIDELITY NATIONAL INFORMATION SERVICES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - UNAUDITED

(In millions, except per share amounts)

											Exhibit A
		Three months ended June 30,			Six months ended June 30,
		2022			2021			2022			2021
Revenue	$	3,719	$	3,475	$	7,210	$	6,699
Cost of revenue		2,234			2,135			4,475			4,253
Gross profit		1,485			1,340			2,735			2,446
Selling, general, and administrative expenses		1,082			977			2,117			1,983
Asset impairments		29			-			87			-
Operating income		374			363			531			463
Other income (expense):
Interest expense, net		(47)			(48)			(90)			(122)
Other income (expense), net		30			324			92			(170)
Total other income (expense), net		(17)			276			2			(292)
Earnings (loss) before income taxes and equity method		357			639			533			171
investment earnings (loss)
Provision (benefit) for income taxes		77			302			132			205
Equity method investment earnings (loss)		-			5			-			6
Net earnings (loss)		280			342			401			(28)
Net (earnings) loss attributable to noncontrolling interest		(3)			(1)			(4)			(4)
Net earnings (loss) attributable to FIS common stockholders	$	277	$	341	$	397	$	(32)
Net earnings (loss) per share-basic attributable to FIS	$	0.46	$	0.55	$	0.65	$	(0.05)
common stockholders
Weighted average shares outstanding-basic		608			619			609			620
Net earnings (loss) per share-diluted attributable to FIS
$	0.45	$	0.55	$	0.65	$	(0.05)
common stockholders
Weighted average shares outstanding-diluted		611			624			612			620

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FIDELITY NATIONAL INFORMATION SERVICES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED

(In millions, except per share amounts)

					Exhibit B
		June 30,			December 31,
		2022			2021
ASSETS
Current assets:
Cash and cash equivalents	$	1,688	$	2,010
Settlement assets		4,334			4,020
Trade receivables, net		3,520			3,772
Other receivables		251			355
Prepaid expenses and other current assets		913			551
Total current assets		10,706			10,708
Property and equipment, net		881			949
Goodwill		52,004			53,330
Intangible assets, net		10,018			11,539
Software, net		3,176			3,299
Other noncurrent assets		1,876			2,137
Deferred contract costs, net		959			969
Total assets	$	79,620	$	82,931
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND EQUITY
Current liabilities:
Accounts payable, accrued and other liabilities	$	2,856	$	2,864
Settlement payables		5,154			5,295
Deferred revenue		728			779
Short-term borrowings		3,642			3,911
Current portion of long-term debt		3,148			1,617
Total current liabilities		15,528			14,466
Long-term debt, excluding current portion		11,755			14,825
Deferred income taxes		3,786			4,193
Other noncurrent liabilities		1,861			1,915
Total liabilities		32,930			35,399
Redeemable noncontrolling interest		175			174
Equity:
FIS stockholders' equity:
Preferred stock $0.01 par value		-			-
Common stock $0.01 par value		6			6
Additional paid in capital		46,634			46,466
Retained earnings		2,709			2,889
Accumulated other comprehensive earnings (loss)		(200)			252
Treasury stock, at cost		(2,643)			(2,266)
Total FIS stockholders' equity		46,506			47,347
Noncontrolling interest		9			11
Total equity		46,515			47,358
Total liabilities, redeemable noncontrolling interest and equity	$	79,620	$	82,931

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FIDELITY NATIONAL INFORMATION SERVICES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(In millions)

					Exhibit C
		Six months ended June 30,
		2022			2021
Cash flows from operating activities:
Net earnings (loss)	$	401	$	(28)
Adjustment to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization		1,988			1,924
Amortization of debt issuance costs		15			15
Asset impairments		87			-
Loss (gain) on sale of businesses, investments and other		(5)			(230)
Loss on extinguishment of debt		-			528
Stock-based compensation		145			241
Deferred income taxes		(386)			87
Net changes in assets and liabilities, net of effects from acquisitions and foreign currency:
Trade and other receivables		114			(171)
Settlement activity		(106)			10
Prepaid expenses and other assets		(250)			(308)
Deferred contract costs		(190)			(212)
Deferred revenue		(30)			35
Accounts payable, accrued liabilities and other liabilities		137			(27)
Net cash provided by operating activities		1,920			1,864
Cash flows from investing activities:
Additions to property and equipment		(173)			(143)
Additions to software		(579)			(470)
Settlement of net investment hedge cross-currency interest rate swaps		645			(17)
Net proceeds from sale of businesses and investments		-			367
Other investing activities, net		(22)			(60)
Net cash provided by (used in) investing activities		(129)			(323)
Cash flows from financing activities:
Borrowings		30,789			26,969
Repayment of borrowings and other financing obligations		(31,358)			(27,696)
Debt issuance costs		-			(74)
Net proceeds from stock issued under stock-based compensation plans		15			76
Treasury stock activity		(378)			(908)
Dividends paid		(574)			(486)
Other financing activities, net		(96)			(136)
Net cash provided by (used in) financing activities		(1,602)			(2,255)
Effect of foreign currency exchange rate changes on cash		(392)			(31)
Net increase (decrease) in cash, cash equivalents and restricted cash		(203)			(745)
Cash, cash equivalents and restricted cash, beginning of period		4,283			4,030
Cash, cash equivalents and restricted cash, end of period	$	4,080	$	3,285

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