0001136893-20-000273 | 10-Q | XBRL Viewer | Fidelity National Information Services INC

Worldpay acquisition (in shares)

109

180

Worldpay acquisition

$ 39,095

$ 2

5,042

34,040

$ 2

Treasury shares held for taxes due upon exercise of stock options

132

$ 46

(25)

$ (24)

(1)

Purchases of treasury stock (in shares)

(4)

Purchases of treasury stock

(399)

$ (400)

(1)

Cash dividends declared ($0.35 per share per quarter) and other distributions

138

(446)

(441)

(5)

Other

(5)

459

456

Ending balance (in shares) at Sep. 30, 2019

615

Ending balance at Sep. 30, 2019

49,212

$ 6

$ (21)

45,063

4,538

(391)

Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures

Beginning balance (in shares) at Jun. 30, 2019

433

109

Beginning balance at Jun. 30, 2019

$ 9,992

$ 4

$ (5,067)

10,887

4,599

(438)

Worldpay acquisition (in shares)

109

180

Worldpay acquisition

$ 39,095

$ 2

5,042

34,040

$ 2

Treasury shares held for taxes due upon exercise of stock options

$ 3

(2)

$ (1)

(1)

Cash dividends declared ($0.35 per share per quarter) and other distributions

(218)

(215)

(3)

156

154

Ending balance (in shares) at Sep. 30, 2019

615

Ending balance at Sep. 30, 2019

49,212

$ 6

$ (21)

45,063

4,538

(391)

Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures

Beginning balance (in shares) at Dec. 31, 2019

615

Beginning balance at Dec. 31, 2019

49,456

$ 6

$ (52)

45,358

4,161

(33)

^[1]

$ 7

(7)

Treasury shares held for taxes due upon exercise of stock options (in shares)

293

(1)

Treasury shares held for taxes due upon exercise of stock options

(102)

$ (95)

Cash dividends declared ($0.35 per share per quarter) and other distributions

182

(658)

(653)

(5)

^[1]

Other

(4)

(6)

^[1]

Ending balance (in shares) at Sep. 30, 2020

(179)

621

Ending balance at Sep. 30, 2020

49,045

$ 6

$ (140)

45,821

3,556

(212)

^[1]

Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures

Beginning balance (in shares) at Jun. 30, 2020

619

Beginning balance at Jun. 30, 2020

49,057

$ 6

$ (94)

45,736

3,753

(358)

^[1]

Treasury shares held for taxes due upon exercise of stock options

(53)

$ (46)

Cash dividends declared ($0.35 per share per quarter) and other distributions

(218)

(217)

(1)

^[1]

Other

^[1]

Ending balance (in shares) at Sep. 30, 2020

146

621

Ending balance at Sep. 30, 2020

$ 49,045

$ 6

$ (140)

$ 45,821

$ 3,556

$ (212)

$ 14

^[1]

Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures

[1]	Excludes redeemable noncontrolling interest that is not considered equity. See Note 3, Virtus Acquisition, for additional information.

Condensed Consolidated Statement of Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends paid per share (in dollars per share)	$ 0.35	$ 0.35	$ 0.35	$ 0.35

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net earnings	$ 61	$ 459
Adjustment to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	2,760	1,488
Amortization of debt issue costs	24	17
Acquisition-related financing foreign exchange	0	(112)
Asset impairments	0	87
Loss (gain) on sale of businesses, investments and other	3	18
Stock-based compensation	182	138
Deferred income taxes	(24)	(75)
Net changes in assets and liabilities, net of effects from acquisitions and foreign currency:
Trade and other receivables	78	12
Contract assets	(41)	(14)
Settlement activity	594	165
Prepaid expenses and other assets	(128)	(2)
Deferred contract costs	(354)	(258)
Deferred revenue	(50)	(51)
Accounts payable, accrued liabilities and other liabilities	(81)	(131)
Net cash provided by operating activities	3,024	1,741
Cash flows from investing activities:
Additions to property and equipment	(186)	(135)
Additions to software	(652)	(409)
Acquisitions, net of cash acquired	(469)	(6,629)
Net proceeds from sale of businesses and investments	0	49
Other investing activities, net	92	(43)
Net cash provided by (used in) investing activities	(1,215)	(7,167)
Cash flows from financing activities:
Borrowings	37,125	25,425
Repayment of borrowings and other financing obligations	(37,646)	(15,997)
Debt issuance costs	0	(71)
Proceeds from stock issued under stock-based compensation plans	302	136
Treasury stock activity	(102)	(422)
Dividends paid	(650)	(441)
Other financing activities, net	(222)	(39)
Net cash provided by (used in) financing activities	(1,193)	8,591
Effect of foreign currency exchange rate changes on cash	8	(38)
Net increase (decrease) in cash and cash equivalents	624	3,127
Cash and cash equivalents, beginning of period	3,211	703
Cash and cash equivalents, end of period	3,835	3,830
Supplemental cash flow information:
Cash paid for interest	305	208
Cash paid for income taxes	$ 163	$ 273

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The unaudited financial information included in this report includes the accounts of FIS and its subsidiaries prepared in accordance with U.S. generally accepted accounting principles and the instructions to Form 10-Q and Article 10 of Regulation S-X. All adjustments considered necessary for a fair presentation have been included. This report should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2019. The preparation of these consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reported periods. The inputs into management's critical and significant accounting estimates consider the economic impact of the outbreak of the novel coronavirus ("COVID-19") and the subsequently declared COVID-19 pandemic ("the pandemic") by the World Health Organization on March 11, 2020. The extent to which the pandemic further affects our results of operations and financial position will depend on future developments, which are highly uncertain and are difficult to predict, including, but not limited to, the duration and spread of the pandemic, its severity, the actions to contain the virus or treat its impact, and how quickly and to what extent normal economic and operating conditions can resume. Accordingly, our future results could be materially affected by changes in our estimates. Certain reclassifications have been made in the 2019 consolidated financial statements to conform to the classifications used in 2020. Amounts in tables in the financial statements and accompanying footnotes may not sum due to rounding. On July 31, 2019, FIS completed the acquisition of Worldpay, and Worldpay's results of operations and financial position are included in the consolidated financial statements from and after the date of acquisition. See Note 3 for additional discussion. FIS reports its financial performance based on the following segments: Merchant Solutions, Banking Solutions, Capital Market Solutions, and Corporate and Other. As FIS continues to execute on its integration workflows and optimize its portfolio of assets, it reclassified certain non-strategic businesses from the Merchant Solutions and Banking Solutions segments into the Corporate and Other segment in the quarter ended March 31, 2020, and recast all prior-period segment information presented. These operations represented less than 2% of third quarter and year-to-date 2020 revenue. See Note 12 for a summary of each segment.

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Change in Accounting Policy The Company adopted FASB Accounting Standards Codification ("ASC") Topic 326, Financial Instruments - Credit Losses ("Topic 326"), with an adoption date of January 1, 2020. As a result, the Company changed its accounting policy for allowance for credit losses. The accounting policy pursuant to Topic 326 for credit losses is disclosed below. The adoption of Topic 326 resulted in an immaterial cumulative effect adjustment recorded in retained earnings as of January 1, 2020. Allowance for Credit Losses The Company monitors trade receivable balances including contract assets as well as other receivables and estimates the allowance for lifetime expected credit losses. Estimates of expected credit losses are based on historical collection experience and other factors, including those related to current market conditions and events. The allowance for credit losses is separate from the chargeback liability described in Note 9. While the COVID-19 pandemic did not result in a significant increase in the Company's expected credit loss allowance recorded as of September 30, 2020, it is reasonably possible that future developments related to the economic impact of the COVID-19 pandemic could have a material impact on management's estimates.

Acquisitions

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Acquisitions

Worldpay Acquisition

On July 31, 2019, FIS completed the acquisition of Worldpay by acquiring 100 percent of Worldpay's equity. The Worldpay acquisition brought an integrated technology platform with a comprehensive suite of products and services serving merchants and financial institutions and provided FIS with enhanced global payment capabilities, robust risk and fraud solutions and advanced data analytics.

The total purchase price was as follows (in millions):


Cash consideration	$	3,423
Value of FIS share consideration	38,635
Pay-off of Worldpay long-term debt not contractually assumed	5,738
Value of outstanding converted equity awards attributed to services already rendered	449
Total purchase price	$	48,245

The acquisition was accounted for as a business combination under FASB ASC Topic 805, Business Combinations ("Topic 805"). We recorded an allocation of the purchase price to Worldpay tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of July 31, 2019. The amounts for intangible assets were based on third-party valuations performed. Goodwill was recorded as the residual amount by which the purchase price exceeded the fair value of the net assets acquired. Goodwill consists primarily of expected synergies of combining operations, the acquired workforce, and growth opportunities, none of which qualify as separately identifiable intangible assets. The Company completed its assessment of the fair value of assets acquired and liabilities assumed within the one-year period from the date of acquisition. The Company recorded measurement period adjustments due to additional information received primarily related to contingencies and income taxes, resulting in a decrease in the value assigned to goodwill. There was no material impact on earnings as a result of the measurement period adjustments recorded.

The final purchase price allocation is as follows (in millions):


Cash acquired	$	305
Settlement deposits and merchant float (1)	2,444
Trade receivables	1,594
Goodwill	38,057
Intangible assets	13,682
Computer software	1,297
Other noncurrent assets (2)	1,641
Accounts payable, accrued and other liabilities	(1,021)
Settlement payables	(3,167)
Deferred income taxes	(2,860)
Long-term debt, subsequently repaid	(1,805)
Other liabilities and noncontrolling interest (3)	(1,922)
Total purchase price	$	48,245

(1)Includes $1,693 million of merchant float.

(2)Includes $534 million of other restricted cash.

(3)Includes $542 million of noncurrent tax receivable agreement liability (see Note 9) and $875 million contingent value rights liability (see Note 5).

The gross contractual amount of trade receivables acquired was approximately $1,646 million. The difference between that total and the amount reflected above represents our best estimate at the acquisition date of the contractual cash flows not expected to be collected. This difference was derived using Worldpay's historical bad debts, sales allowances and collection trends.

Intangible assets primarily consist of software, customer relationship assets and trademarks with weighted average estimated useful lives of seven years, ten years and five years, respectively, and fair value amounts assigned of $1,297 million, $13,272 million and $410 million, respectively.

See Note 9 for acquired contingencies resulting from the Worldpay acquisition.

Unaudited Supplemental Pro Forma Results Giving Effect to the Worldpay Acquisition

Worldpay's revenues and pre-tax loss of $734 million and $162 million, respectively, which include the impact of purchase accounting adjustments, are included in the consolidated statements of earnings for the period from July 31, 2019, through September 30, 2019.

Pursuant to ASC 805, unaudited supplemental pro forma results of operations for the three and nine months ended September 30, 2019, assuming the acquisition had occurred as of January 1, 2018, are presented below (in millions, except per share amounts):


	September 30, 2019
	Three months ended		Nine months ended
Revenue	$	3,154	$	9,380
Net earnings (loss) attributable to FIS common stockholders	$	215	$	348
Net earnings (loss) per share-basic attributable to FIS common stockholders	$	0.35	$	0.57
Net earnings (loss) per share-diluted attributable to FIS common stockholders	$	0.35	$	0.56

The unaudited pro forma results include certain pro forma adjustments to revenue and net earnings that were directly attributable to the acquisition, assuming the acquisition had occurred on January 1, 2018, including the following:

•additional amortization expense that would have been recognized relating to the acquired intangible assets;

•adjustment to interest expense to reflect the removal of Worldpay debt and the addition of borrowings of FIS in conjunction with the acquisition; and

•a reduction in expenses for the three and nine months ended September 30, 2019, of $149 million and $210 million, respectively, for acquisition-related transaction costs and other one-time non-recurring costs.

Virtus Acquisition

On January 2, 2020, FIS acquired a majority interest in Virtus Partners ("Virtus"), previously a privately held company that provides high-value managed services and technology to the credit and loan market. FIS acquired a 70% voting and financial interest in Virtus with 30% interest retained by the founders of Virtus ("Founders"). The acquisition was accounted for as a business combination under Topic 805. We recorded a provisional allocation of the $404 million cash purchase price and the $173 million fair value of redeemable noncontrolling interest to tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values, consisting primarily of $254 million in customer relationships and $51 million in software assets. We also recorded $245 million in goodwill for the residual amount by which the purchase price exceeded the provisional fair value of the net assets acquired. Our purchase price allocation is provisional as of September 30, 2020, and we expect to finalize as soon as practicable, but no later than one year from the acquisition date.

We recorded the 30% interest retained by the Founders at the acquisition date as redeemable noncontrolling interest, which is reflected outside of stockholders' equity on the consolidated balance sheet, given the agreement between FIS and the Founders that provides FIS with a call option and the Founders with a put option requiring FIS to purchase all of the Founders' retained interest in Virtus at a redemption value determined pursuant to the agreement. The call option and put option are exercisable at any time after two years and three years, respectively, following the acquisition date. Changes in the estimated redemption value are accreted through equity from the acquisition date to the date the call option becomes exercisable, to the extent the estimated redemption value is greater than the initial redeemable noncontrolling interest value recorded, as adjusted for the Founders' share of the cumulative impact of net earnings (loss).

Revenue

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

In the following tables, revenue is disaggregated by primary geographical market and type of revenue. The tables also include a reconciliation of the disaggregated revenue with the Company's reportable segments. Prior-period amounts have been reclassified to conform to the new reportable segment presentation as discussed in Note 12.

For the three months ended September 30, 2020 (in millions):


	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	747	$	1,281	$	382	$	35	$	2,445
All others	270		226		244		12		752
Total	$	1,017	$	1,507	$	626	$	47	$	3,197

Type of Revenue:
Recurring revenue:
Transaction processing and services	$	996	$	1,146	$	305	$	41	$	2,488
Software maintenance	1		88		124		—		213
Other recurring	19		45		25		—		89
Total recurring	1,016		1,279		454		41		2,790

Software license	—		15		64		—		79
Professional services	—		153		108		1		262
Other non-recurring fees	1		60		—		5		66
Total	$	1,017	$	1,507	$	626	$	47	$	3,197

For the three months ended September 30, 2019 (in millions):


	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	501	$	1,216	$	378	$	48	$	2,143
All others	204		227		233		15		679
Total	$	705	$	1,443	$	611	$	63	$	2,822

Type of Revenue:
Recurring revenue:
Transaction processing and services	$	690	$	1,052	$	278	$	57	$	2,077
Software maintenance	1		91		121		—		213
Other recurring	11		44		27		—		82
Total recurring	702		1,187		426		57		2,372

Software license	1		53		82		—		136
Professional services	—		147		103		1		251
Other non-recurring fees	2		56		—		5		63
Total	$	705	$	1,443	$	611	$	63	$	2,822

For the nine months ended September 30, 2020 (in millions):


	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	2,011	$	3,789	$	1,176	$	110	$	7,086
All others	753		658		710		29		2,150
Total	$	2,764	$	4,447	$	1,886	$	139	$	9,236

Type of Revenue:
Recurring revenue:
Transaction processing and services	$	2,697	$	3,334	$	922	$	125	$	7,078
Software maintenance	2		263		368		1		634
Other recurring	58		131		75		—		264
Total recurring	2,757		3,728		1,365		126		7,976

Software license	2		48		206		—		256
Professional services	1		441		314		3		759
Other non-recurring fees	4		230		1		10		245
Total	$	2,764	$	4,447	$	1,886	$	139	$	9,236

For the nine months ended September 30, 2019 (in millions):


	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	648	$	3,472	$	1,112	$	143	$	5,375
All others	204		701		666		45		1,616
Total	$	852	$	4,173	$	1,778	$	188	$	6,991

Type of Revenue:
Recurring revenue:
Transaction processing and services	$	829	$	3,030	$	824	$	169	$	4,852
Software maintenance	1		271		361		—		633
Other recurring	12		133		80		—		225
Total recurring	842		3,434		1,265		169		5,710

Software license	7		112		214		—		333
Professional services	—		439		299		4		742
Other non-recurring fees	3		188		—		15		206
Total	$	852	$	4,173	$	1,778	$	188	$	6,991

Contract Balances

The Company recognized revenue of $216 million and $128 million during the three months and $660 million and $636 million during the nine months ended September 30, 2020 and 2019, respectively, that was included in the corresponding deferred revenue balance at the beginning of the periods.

Transaction Price Allocated to the Remaining Performance Obligations

As of September 30, 2020, approximately $21 billion of revenue is estimated to be recognized in the future primarily from the Banking Solutions and Capital Market Solutions segments' remaining unfulfilled performance obligations, which are primarily comprised of recurring account- and volume-based processing services. This excludes the amount of anticipated recurring renewals not yet contractually obligated. The Company expects to recognize approximately 35% of the Banking Solutions and Capital Market Solutions segments' remaining performance obligations over the next 12 months, approximately another 20% over the next 13 to 24 months, and the balance thereafter.

As permitted by ASC 606, Revenue from Contracts with Customers, the Company has elected to exclude from this disclosure an estimate for the Merchant Solutions segment, which is primarily comprised of contracts with an original duration of one year or less or variable consideration that meet specific criteria. This segment's core performance obligations consist of variable consideration under a stand-ready series of distinct days of service, and revenue from the segment's products and service arrangements are generally billed and recognized as the services are performed. The aggregate fixed consideration portion of customer contracts with an initial contract duration greater than one year is not material.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 13
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 12
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Condensed Consolidated Financial Statement Details [Abstract]

Condensed Consolidated Financial Statement Details

9 Months Ended

Sep. 30, 2020

Condensed Consolidated Financial Statement Details

Cash and Cash Equivalents

The Company includes restricted cash in the Cash and cash equivalents balance reported in the consolidated statements of cash flows. The reconciliation between Cash and cash equivalents in the consolidated balance sheets and the consolidated statements of cash flows is as follows (in millions):


	September 30, 2020		December 31, 2019
Cash and cash equivalents on the consolidated balance sheets	$	1,826	$	1,152
Merchant float restricted cash (in Settlement deposits and merchant float)	2,009		1,519
Other restricted cash (in Other noncurrent assets) (1)	—		540
Total Cash and cash equivalents per the consolidated statements of cash flows	$	3,835	$	3,211

(1) See Visa Europe and Contingent Value Rights discussion below.

Property and Equipment, Intangible Assets and Computer Software

The following table shows the Company's consolidated financial statement details as of September 30, 2020, and December 31, 2019 (in millions):


	September 30, 2020						December 31, 2019
	Cost		Accumulated depreciation and amortization		Net		Cost		Accumulated depreciation and amortization		Net
Property and equipment	$	2,366	$	1,452	$	914	$	2,177	$	1,277	$	900
Intangible assets	$	18,791	$	4,567	$	14,224	$	18,564	$	2,766	$	15,798
Software	$	5,308	$	2,007	$	3,301	$	4,820	$	1,616	$	3,204

As of September 30, 2020, intangible assets, net of amortization, includes $13,840 million of customer relationships and other amortizable intangible assets, $341 million of finite-lived trademarks, as well as $43 million of non-amortizable indefinite-lived trademarks. Amortization expense with respect to these intangible assets was $602 million and $481 million for the three months and $1,794 million and $794 million for the nine months ended September 30, 2020 and 2019, respectively.

Goodwill

Changes in goodwill during the nine months ended September 30, 2020, are summarized below (in millions). Prior-period amounts have been reclassified to conform to the new reportable segment presentation as discussed in Note 12.


					Capital		Corporate
	Merchant		Banking		Market		And
	Solutions		Solutions		Solutions		Other		Total
Balance, December 31, 2019	$	35,543	$	12,225	$	4,382	$	92	$	52,242
Goodwill attributable to acquisitions	(11)		57		245		—		291
Foreign currency adjustments	16		(21)		39		—		34
Balance, September 30, 2020	$	35,548	$	12,261	$	4,666	$	92	$	52,567

We assess goodwill for impairment on an annual basis during the fourth quarter or more frequently if circumstances indicate potential impairment. We concluded as a result of our fourth quarter 2019 step zero annual impairment tests that it remained more likely than not that the fair value of each of our reporting units continued to exceed their carrying amounts. Due to the economic impact of the COVID-19 pandemic, we evaluated if events and circumstances as of September 30, 2020, indicated potential impairment. We performed a qualitative assessment by examining factors most likely to affect our valuations and considered the impact to our business from the COVID-19 pandemic. The factors examined involve significant use of management judgment and included, among others, (1) forecasted revenue, growth rates, operating margins, and capital

expenditures used to calculate estimated future cash flows, (2) future economic and market conditions and (3) FIS' market capitalization.

Based on our interim impairment assessment as of September 30, 2020, we concluded that it remained more likely than not that the fair value of each of our reporting units continued to exceed their carrying amounts; therefore, goodwill was not impaired. However, it is reasonably possible that future developments related to the economic impact of the COVID-19 pandemic on our Merchant Solutions business, such as an extended duration of the pandemic and/or government-imposed shutdowns, prolonged economic downturn or recession, or lack of governmental support for recovery, could have a material impact on one or more of the estimates and assumptions used to evaluate goodwill impairment and could result in future goodwill impairment.

Visa Europe and Contingent Value Rights

As part of the Worldpay acquisition, the Company acquired certain assets and liabilities related to the June 2016 Worldpay Group plc (Legacy Worldpay) disposal of its ownership interest in Visa Europe to Visa Inc. As part of the disposal, Legacy Worldpay received proceeds from Visa Inc. in the form of cash ("cash consideration") and convertible preferred stock ("preferred stock"), the value of which may be reduced by losses incurred relating to ongoing interchange-related litigation involving Visa Europe ("the litigation"). The preferred stock becomes convertible into Visa Inc. Class A common stock ("common stock") in stages based on developments in the litigation and becomes fully convertible no later than 2028 (subject to a holdback to cover any pending claims). Also in connection with the disposal, Legacy Worldpay agreed to pay former Legacy Worldpay owners 90% of the net-of-tax proceeds from the disposal, known as contingent value rights, which is recorded as a liability ("CVR liability") on the consolidated balance sheets, and agreed to segregate the cash consideration to be paid as part of the CVR liability, which was recorded as restricted cash.

On September 17, 2020, the Company executed an amendment ("the amendment") with the former Legacy Worldpay owners to pay approximately one-third of the cash consideration component of the CVR liability, or $185 million, to the former Legacy Worldpay owners upon amendment execution, and to pay the remaining, approximately two-thirds of the cash consideration on October 12, 2027, subject to reduction due to losses incurred by Visa Inc. relating to the litigation. The partial payment of the cash consideration was recorded as a reduction of the CVR liability and reflected as Other financing activities, net, on the consolidated statement of cash flows for the nine months ended September 30, 2020. The amendment also removed the segregated cash requirement resulting in no restricted cash recorded at September 30, 2020, as compared to $540 million recorded at December 31, 2019, reflected in Other noncurrent assets on the consolidated balance sheet. Additionally, as Visa Inc. releases preferred stock for conversion into common stock, over time and subject to any losses incurred by Visa Inc. relating to the litigation, 90% of the net-of-tax proceeds from the sale of the common stock will be paid to the former Legacy Worldpay owners in accordance with the amendment. A payment was made in the fourth quarter of 2020 related to Visa Inc.'s release of preferred stock in September 2020.

The Company has elected the fair value option under ASC 825, Financial Instruments ("ASC 825"), for measuring its preferred stock asset and related CVR liability. The estimated fair value of the preferred stock and related component of the CVR liability are determined using Level 3-type measurements. Significant inputs into the valuation of the preferred stock include the Visa Inc. Class A common stock price per share and the conversion ratio, which are observable, as well as the expected timing of future preferred stock releases for conversion into common stock and an estimate of the potential losses that will result from the ongoing litigation involving Visa Europe, which are unobservable. The fair value of the preferred stock was $593 million at September 30, 2020, with $540 million recorded as Prepaid expenses and other current assets for the preferred stock that has been released to date and $53 million recorded as Other noncurrent assets for the remaining preferred stock. The fair value of the preferred stock was $400 million at December 31, 2019, recorded in Other noncurrent assets.

The Company also records the cash consideration component of the CVR liability at fair value under ASC 825. As a result of the amendment, the estimated fair value of the cash consideration component of the CVR liability is determined using Level 3-type measurements, including a discount rate based on the bond yield for the Company's credit rating and remaining payment term as the significant unobservable input. The fair value of the CVR liability was $779 million at September 30, 2020, with $394 million recorded as Accounts payable, accrued and other liabilities for the preferred stock that has been released to date and $385 million recorded as Other noncurrent liabilities for the remaining preferred stock and cash consideration components. The fair value of the CVR liability was $838 million at December 31, 2019, recorded in Other noncurrent liabilities on the consolidated balance sheet.

Pursuant to ASC 825, the Company remeasures the fair value of the preferred stock and CVR liability each reporting period. The net change in fair value was $48 million and $74 million during the three and nine months ended September 30, 2020, respectively, recorded in Other income (expense), net on the consolidated statements of earnings.

Deferred Contract Costs

9 Months Ended

Sep. 30, 2020

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Deferred Contract Costs

Origination and fulfillment costs from contracts with customers capitalized as of September 30, 2020, and December 31, 2019, consist of the following (in millions):


	September 30, 2020		December 31, 2019
Contract costs on implementations in progress	$	187	$	138
Contract origination costs on completed implementations, net	472		352
Contract fulfillment costs on completed implementations, net	192		177
Total Deferred contract costs, net	$	851	$	667

Amortization of deferred contract costs on completed implementations was $56 million and $48 million during the three months and $162 million and $136 million during the nine months ended September 30, 2020 and 2019, respectively, and there were no significant impairment losses in relation to the costs capitalized for the periods presented.

Debt

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Debt

Long-term debt as of September 30, 2020, and December 31, 2019, consists of the following (in millions):


	September 30, 2020
		Weighted
		Average
	Interest	Interest		September 30,		December 31,
	Rates	Rate	Maturities	2020		2019
Fixed Rate Notes
Senior USD Notes	3.0% - 5.0%	3.8%	2023 - 2048	$	4,938	$	4,938
Senior Euro Notes	0.1% - 3.0%	1.0%	2021 - 2039	9,086		8,694
Senior GBP Notes	1.7% - 3.4%	2.7%	2022 - 2031	2,380		2,440
Senior Euro Floating Rate Notes		0.0%	2021	586		561
Revolving Credit Facility (1)		—%	2023	—		600
Other				55		136
Total long-term debt, including current portion				17,045		17,369
Current portion of long-term debt				(1,832)		(140)
Long-term debt, excluding current portion				$	15,213	$	17,229

(1)Interest on the Revolving Credit Facility is generally payable at LIBOR plus an applicable margin of up to 1.625% plus an unused commitment fee of up to 0.225%, each based upon the Company's corporate credit ratings. The weighted average interest rate on the Revolving Credit Facility excludes fees.

Short-term borrowings as of September 30, 2020, and December 31, 2019, consists of the following (in millions):


	September 30, 2020
	Weighted
	Average
	Interest			September 30,		December 31,
	Rate		Maturities	2020		2019
Euro-commercial paper notes ("ECP Notes")	(0.1)	%	Up to 183 days	$	3,097	$	2,523
U.S. commercial paper notes ("USCP Notes")	—	%	Up to 397 days	—		200
Other				47		100
Total Short-term borrowings				$	3,144	$	2,823

As of September 30, 2020, the weighted-average interest rate of the Company's outstanding debt was 1.6%, including the impact of interest rate swaps (see Note 8).

The following summarizes the aggregate maturities of our long-term debt, including other financing obligations for certain hardware and software, based on stated contractual maturities, excluding the fair value of the interest rate swap discussed below and net unamortized non-cash bond premiums and discounts of $24 million, as of September 30, 2020 (in millions):


	Total
2020 remaining period	$	19
2021	1,834
2022	1,595
2023	2,189
2024	993
Thereafter	10,534
Total principal payments	17,164
Debt issuance costs, net of accumulated amortization	(95)
Total long-term debt	$	17,069

There are no mandatory principal payments on the Revolving Credit Facility, and any balance outstanding on the Revolving Credit Facility will be due and payable at its scheduled maturity date, which occurs at September 21, 2023.

Revolving Credit Facility

As of September 30, 2020, the borrowing capacity remaining under the Revolving Credit Facility was $2,401 million (net of $3,097 million of capacity backstopping our commercial paper notes and $2 million in outstanding letters of credit issued under the Revolving Credit Facility).

Fair Value of Debt

The fair value of the Company's long-term debt using Level 2-type measurements is estimated to be approximately $1,422 million and $900 million higher than the carrying value, excluding the fair value of the interest rate swap and unamortized discounts, at September 30, 2020, and December 31, 2019, respectively.

Financial Instruments	9 Months Ended
Financial Instruments	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Financial Instruments Fair Value Hedge The Company holds an interest rate swap with a €500 million notional value converting the interest rate exposure on the Company's Senior Euro Notes due 2024 from fixed to variable. This swap is designated as a fair value hedge for accounting purposes with an asset fair value of $15 million and $10 million at September 30, 2020, and December 31, 2019, respectively, reflected as an increase in the hedged debt balance (see Note 7). Net Investment Hedges The purpose of the Company's net investment hedges, as discussed below, is to reduce the volatility of FIS' net investment value in its Euro- and Pound Sterling-denominated operations due to changes in foreign currency exchange rates. The Company recorded net investment hedge aggregate gain (loss), net of tax, for the change in fair value as Foreign currency translation adjustments, within Other comprehensive earnings (loss), net of tax on the consolidated statements of comprehensive earnings of $(597) million and $185 million during the three months and $(263) million and $198 million, during the nine months ended September 30, 2020 and 2019, respectively. No ineffectiveness has been recorded on the net investment hedges. Foreign Currency-Denominated Debt Designations The Company designates certain foreign currency-denominated debt as net investment hedges of its investment in Euro- and Pound Sterling-denominated operations. As of September 30, 2020, an aggregate €10,904 million was designated as a net investment hedge of the Company's investment in Euro-denominated operations related to the Senior Euro Floating Rate Notes, Senior Euro Notes with maturities ranging from 2021 to 2039 and ECP Notes, and an aggregate £1,850 million was designated as a net investment hedge of the Company's Pound Sterling-denominated operations related to the Senior GBP Notes with maturities ranging from 2022 to 2031. Cross-Currency Interest Rate Swap Designations The Company holds cross-currency interest rate swaps and designates them as net investment hedges of its investment in Euro- and Pound Sterling-denominated operations. As of September 30, 2020, an aggregate notional amount of €2,006 million was designated as a net investment hedge of the Company's investment in Euro-denominated operations, and an aggregate notional amount of £556 million was designated as a net investment hedge of the Company's Pound Sterling-denominated operations. The fair value of the cross-currency interest rate swaps was a net $76 million and $167 million liability at September 30, 2020, and December 31, 2019, respectively.

Commitments and Contingencies

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Reliance Trust Claims

Reliance Trust Company ("Reliance"), the Company's subsidiary, is a defendant in a class action arising out of its provision of services as the discretionary trustee for a 401(k) Plan (the "Plan") for one of its customers. On behalf of the Plan participants, plaintiffs in the action, which was filed in December 2015, seek damages and attorneys' fees, as well as equitable relief, against Reliance and the Plan's sponsor and record-keeper for alleged breaches of fiduciary duty under the Employee Retirement Income Security Act of 1974 ("ERISA"). At a non-jury trial conducted in March 2020, Reliance vigorously defended the action and contended that no breaches of fiduciary duty or prohibited transactions occurred and that Plan participants suffered no damages. At trial, Plaintiffs claimed damages of approximately $127 million against all defendants. On October 12, 2020, Reliance and plaintiffs entered into a settlement agreement, which is subject to final court approval, to settle all allegations and claims asserted in the action for $39.8 million without equitable relief. On October 14, 2020, the Court preliminarily approved the settlement agreement. In the settlement agreement, Reliance admitted no wrongdoing or liability with respect to any of the allegations or claims and maintains that the Plan was managed, operated, and administered during its tenure as the Plan's discretionary trustee in full compliance with ERISA and applicable regulations. Upon final court approval, all allegations and claims will be settled and released with prejudice. The Company recorded a liability for the agreed settlement amount of $39.8 million and a corresponding loss in Other income (expense), net on the consolidated statement of earnings for the three and nine months ended September 30, 2020.

Brazilian Tax Authorities Claims

In 2004, Proservvi Empreendimentos e Servicos, Ltda., the predecessor to Fidelity National Servicos de Tratamento de Documentos e Informatica Ltda. ("Servicos"), a subsidiary of Fidelity National Participacoes Ltda., our former item processing and remittance services operation in Brazil, acquired certain assets and employees and leased certain facilities from the Transpev Group ("Transpev") in Brazil. Transpev's remaining assets were later acquired by Prosegur, an unrelated third party.

When Transpev discontinued its operations after the asset sale to Prosegur, it had unpaid federal taxes and social contributions owing to the Brazilian tax authorities. The Brazilian tax authorities brought a claim against Transpev and beginning in 2012 brought claims against Prosegur and Servicos on the grounds that Prosegur and Servicos were successors in interest to Transpev. To date, the Brazilian tax authorities filed 14 claims against Servicos asserting potential tax liabilities of approximately $11 million. There are potentially 24 additional claims against Transpev/Prosegur for which Servicos is named as a co-defendant or may be named, but for which Servicos has not yet been served. These additional claims amount to approximately $34 million making the total potential exposure for all 38 claims approximately $45 million. We do not believe a liability for these 38 total claims is probable and, therefore, have not recorded a liability for any of these claims.

Acquired Contingencies - Worldpay

The Company assumed in the Worldpay acquisition a Tax Receivable Agreement ("TRA") under which the Company agreed to make payments to Fifth Third Bank ("Fifth Third") of 85% of the federal, state, local and foreign income tax benefits realized by the Company as a result of certain tax deductions. In December 2019, the Company entered into a Tax Receivable Purchase Addendum (the "Amendment") that provides written call and put options (collectively "the options") to terminate certain estimated obligations under the TRA in exchange for fixed cash payments.

The remaining TRA obligations not subject to the Amendment are based on the cash savings realized by the Company by comparing the actual income tax liability of the Company to the amount of such taxes the Company would have been required to pay had there been no deductions related to the tax attributes. Under the TRA, in certain specified circumstances, such as certain changes of control, the Company may be required to make payments in excess of such cash savings.

Obligations recorded in our consolidated financial statements pursuant to the TRA are based on estimates of future deductions and future tax rates and, in the case of the obligations subject to the Amendment, reflect management's expectation that the options will be exercised. In January 2020, the Company exercised its first call option pursuant to the Amendment, which results in fixed cash payments to Fifth Third of $42 million. The timing and/or amount of aggregate payments due under the TRA may vary based on a number of factors, including the exercise of options, the amount and timing of taxable income the Company generates in the future and the tax rate then applicable, the use of loss carryforwards and amortizable basis. Each reporting period, the Company evaluates the assumptions underlying the TRA obligations.

The consolidated balance sheet as of September 30, 2020, includes a total liability of $543 million relating to the TRA. The following table summarizes our estimated payment obligation timing under the TRA as of September 30, 2020 (in millions):


			Payments Due in
Type of Obligation	Total		2020 Remaining Period		1-3 Years		3-5 Years		More than 5 Years
Obligations under TRA	$	543	$	11	$	267	$	252	$	13

Chargeback Liability

Through services offered in our Merchant Solutions segment, the Company is exposed to potential losses from merchant-related chargebacks. A chargeback occurs when a dispute between a cardholder and a merchant, including a claim for non-delivery of the product or service by the merchant, is not resolved in favor of the merchant and the transaction is charged back to the merchant resulting in a refund of the purchase price to the cardholder. If the Company is unable to collect this chargeback amount from the merchant due to closure, bankruptcy or other reasons, the Company bears the loss for the refund paid to the cardholder. The risk of chargebacks is typically greater for those merchants that promise future delivery of goods and services rather than delivering goods or rendering services at the time of payment. The economic impact of the COVID-19 pandemic has not resulted in material chargeback losses as of September 30, 2020; however, it is reasonably possible that the Company has incurred or may incur significant losses related to future chargebacks. Due to the unprecedented nature of the pandemic and the numerous current and future uncertainties that may impact any potential chargeback losses, and considering that the Company has no historical experience with similar uncertainties, a reasonable estimate of the possible accrual for future chargeback losses or range of losses cannot be made.

Indemnifications and Warranties

The Company generally indemnifies its clients, subject to certain limitations and exceptions, against damages and costs resulting from claims of patent, copyright, or trademark infringement associated solely with its customers' use of the Company's software applications or services. Historically, the Company has not made any material payments under such indemnifications but continues to monitor the conditions that are subject to the indemnifications to identify whether it is probable that a loss has occurred, in which case it would recognize any such losses when they are estimable. In addition, the Company warrants to customers that its software operates substantially in accordance with the software specifications. Historically, no material costs have been incurred related to software warranties, and no accruals for warranty costs have been made.

Related-Party Transactions	9 Months Ended
Related-Party Transactions	Sep. 30, 2020
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party TransactionsThe Company holds a noncontrolling ownership stake in Cardinal Holdings ("Cardinal"), which operates the Capco consulting business. FIS' ownership stake in Cardinal at September 30, 2020, and December 31, 2019, was 37%. The ownership stake in Cardinal is recorded as an equity method investment included within Other noncurrent assets on the consolidated balance sheets. The carrying value of this equity method investment at September 30, 2020, and December 31, 2019, was $134 million and $142 million, respectively. FIS provides ongoing management consulting services and other services to Cardinal. Amounts transacted through these agreements were not significant to the 2020 and 2019 periods presented.

Net Earnings per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Net Earnings per Share

The basic weighted average shares and common stock equivalents for the three and nine months ended September 30, 2020 and 2019, were computed using the treasury stock method.

The following table summarizes net earnings and net earnings per share attributable to FIS common stockholders for the three and nine months ended September 30, 2020 and 2019 (in millions, except per share amounts):


	Three months ended September 30,				Nine months ended September 30,
	2020		2019		2020		2019
Net earnings attributable to FIS common stockholders	$	20	$	154	$	54	$	456
Weighted average shares outstanding — basic	620		516		618		388
Plus: Common stock equivalent shares	7		8		8		8
Weighted average shares outstanding — diluted	627		524		626		396
Net earnings per share-basic attributable to FIS common stockholders	$	0.03	$	0.30	$	0.09	$	1.18
Net earnings per share-diluted attributable to FIS common stockholders	$	0.03	$	0.29	$	0.09	$	1.15

Options to purchase less than 1 million shares of our common stock for the three months and approximately 2 million and 1 million shares for the nine months ended September 30, 2020 and 2019, respectively, were not included in the computation of diluted earnings per share because they were anti-dilutive.

On July 20, 2017, our Board of Directors approved a plan authorizing repurchases of up to $4.0 billion of our outstanding common stock in the open market at prevailing market prices or in privately negotiated transactions through December 31, 2020. This share repurchase authorization replaced any existing share repurchase authorization. Approximately $2.3 billion of plan capacity remained available for repurchases as of September 30, 2020. Management temporarily suspended share repurchases as a result of the Worldpay transaction to accelerate debt repayment.

Segment Information

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Information

Segment Information FIS reports its financial performance based on the following segments: Merchant Solutions, Banking Solutions, Capital Market Solutions, and Corporate and Other. As the Company continues to execute on its integration workflows and optimize its portfolio of assets, the Company reclassified certain non-strategic businesses from the Merchant Solutions and Banking Solutions segments into the Corporate and Other segment in the quarter ended March 31, 2020, and recast all prior-period segment information presented. Below is a summary of each segment.

Merchant Solutions ("Merchant")

The Merchant segment is focused on serving merchants of all sizes globally, enabling them to accept electronic payments, including credit, debit and prepaid payments originated at a physical point of sale, as well as contactless card, mobile wallet, and card-not present payments in eCommerce and mobile environments. Merchant services include all aspects of payment processing, including authorization and settlement, customer service, chargeback and retrieval processing, reporting for electronic payment transactions and network fee and interchange management. Merchant also includes value-added services, such as security and fraud prevention solutions, advanced data analytics and information management solutions, foreign currency management and numerous funding options. Merchant serves clients in over 140 countries. Our Merchant clients are highly-diversified, including non-discretionary everyday spend categories, such as grocery and pharmacy, and include national retailers as well as global enterprises and small- to medium-sized businesses. The Merchant segment utilizes broad and varied distribution channels, including direct sales forces and multiple referral partner relationships that provide us with a growing and diverse client base.

Banking Solutions ("Banking")

The Banking segment is focused on serving all sizes of financial institutions for core processing and ancillary applications solutions; digital solutions; fraud, risk management and compliance solutions; electronic funds transfer and network services solutions; payment solutions; wealth and retirement solutions; item processing and output services solutions and services capitalizing on the continuing trend to outsource these solutions. Clients in this segment include global financial institutions, U.S. regional and community banks, credit unions and commercial lenders, as well as government institutions and other commercial organizations. Banking serves clients in more than 130 countries. Our applications include core processing software, which clients use to maintain the primary records of their customer accounts, and complementary applications and services that interact directly with the core processing applications. We provide our clients integrated solutions characterized by multi-year processing contracts that generate highly recurring revenue. The predictable nature of cash flows generated from the Banking segment provides opportunities for further investments in innovation, integration, information and security, and compliance in a cost-effective manner.

Capital Market Solutions ("Capital Markets")

The Capital Markets segment is focused on serving global financial services clients with a broad array of buy- and sell-side solutions. Clients in this segment operate in more than 100 countries and include asset managers, buy- and sell-side securities brokerage and trading firms, insurers, private equity firms, and other commercial organizations. Our buy- and sell-side solutions include a variety of mission-critical applications for recordkeeping, data and analytics, trading, financing and risk management. Capital Markets clients purchase our solutions and services in various ways including licensing and managing technology "in-house," using consulting and third-party service providers, as well as procuring fully outsourced end-to-end solutions. Our long-established relationships with many of these financial and commercial institutions generate significant recurring revenue. We have made, and continue to make, investments in modern platforms; advanced technologies, such as cloud delivery, open APIs, machine learning and artificial intelligence; and regulatory technology to support our Capital Markets clients.

Corporate and Other

The Corporate and Other segment consists of corporate overhead expense, certain leveraged functions and miscellaneous expenses that are not included in the operating segments, as well as certain non-strategic businesses. The overhead and leveraged costs relate to corporate marketing, corporate finance and accounting, human resources, legal, and amortization of acquisition-related intangibles and other costs, such as acquisition and integration expenses, that are not considered when management evaluates revenue-generating segment performance.

The Company recorded acquisition and integration costs primarily related to the Worldpay acquisition, as well as certain other costs associated with data center consolidation activities totaling $20 million and $25 million for the three months ended and $60 million and $50 million for the nine months ended September 30, 2020 and 2019, respectively, and incremental charges directly related to COVID-19 of $41 million and $56 million for the three and nine months ended September 30, 2020, respectively.

Adjusted EBITDA

Adjusted EBITDA is a measure of segment profit or loss that is reported to the chief operating decision maker for purposes of making decisions about allocating resources to the segments and assessing their performance. For this reason, Adjusted EBITDA, as it relates to our segments, is presented in conformity with FASB ASC Topic 280, Segment Reporting. Adjusted EBITDA is defined as net earnings (loss) before net interest expense, net other income (expense), income tax provision (benefit), equity method investment earnings (loss), depreciation and amortization, and certain non-operating items. The non-operating items affecting the segment profit measure generally include purchase accounting adjustments as well as acquisition, integration and certain other costs. These costs and adjustments are recorded in the Corporate and Other segment for the periods discussed below. Adjusted EBITDA for the respective segments excludes the foregoing costs and adjustments.

Summarized financial information for the Company's segments is shown in the following tables. The Company does not evaluate performance or allocate resources based on segment asset data; therefore, such information is not presented.

For the three months ended September 30, 2020 (in millions):


					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Revenue	$	1,017	$	1,507	$	626	$	47	$	3,197
Operating expenses	(604)		(986)		(411)		(965)		(2,966)
Depreciation and amortization (including purchase accounting amortization)	74		132		71		654		931
Acquisition, integration and other costs	—		—		—		195		195
Adjusted EBITDA	$	487	$	653	$	286	$	(69)	$	1,357

Adjusted EBITDA									$	1,357
Depreciation and amortization									(238)
Purchase accounting amortization									(693)
Acquisition, integration and other costs									(195)
Interest expense, net									(84)
Other income (expense), net									(4)
(Provision) benefit for income taxes									(121)
Equity method investment earnings (loss)									—
Net earnings attributable to noncontrolling interest									(2)
Net earnings attributable to FIS common stockholders									$	20
Capital expenditures	$	92	$	130	$	61	$	10	$	293

(1)Capital expenditures for the three months ended September 30, 2020, include $21 million in other financing obligations for certain hardware and software.

For the three months ended September 30, 2019 (in millions):


					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Revenue	$	705	$	1,443	$	611	$	63	$	2,822
Operating expenses	(383)		(943)		(388)		(968)		(2,682)
Depreciation and amortization (including purchase accounting amortization)	43		127		57		525		752
Acquisition, integration and other costs	—		—		—		213		213
Asset impairments	—		—		—		87		87
Adjusted EBITDA	$	365	$	627	$	280	$	(80)	$	1,192

Adjusted EBITDA									$	1,192
Depreciation and amortization									(206)
Purchase accounting amortization									(546)
Acquisition, integration and other costs									(213)
Asset impairments									(87)
Interest expense, net									(95)
Other income (expense), net									164
(Provision) benefit for income taxes									(48)
Equity method investment earnings (loss)									(5)
Net earnings attributable to noncontrolling interest									(2)
Net earnings attributable to FIS common stockholders									$	154
Capital expenditures (1)	$	47	$	156	$	59	$	21	$	283

(1)Capital expenditures for the three months ended September 30, 2019, include $24 million in other financing obligations for certain hardware and software.

For the nine months ended September 30, 2020 (in millions):


					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Revenue	$	2,764	$	4,447	$	1,886	$	139	$	9,236
Operating expenses	(1,747)		(2,963)		(1,236)		(2,905)		(8,851)
Depreciation and amortization (including purchase accounting amortization)	224		392		203		1,941		2,760
Acquisition, integration and other costs	—		—		—		616		616
Adjusted EBITDA	$	1,241	$	1,876	$	853	$	(209)	$	3,761

Adjusted EBITDA									$	3,761
Depreciation and amortization									(705)
Purchase accounting amortization									(2,055)
Acquisition, integration and other costs									(616)
Interest expense									(252)
Other income (expense), net									31
(Provision) benefit for income taxes									(94)
Equity method investment earnings (loss)									(9)
Net earnings attributable to noncontrolling interest									(7)
Net earnings attributable to FIS common stockholders									$	54
Capital expenditures	$	272	$	383	$	165	$	39	$	859

(1)Capital expenditures for the nine months ended September 30, 2020, include $21 million in other financing obligations for certain hardware and software.

For the nine months ended September 30, 2019 (in millions):


					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Revenue	$	852	$	4,173	$	1,778	$	188	$	6,991
Operating expenses	(503)		(2,810)		(1,149)		(1,683)		(6,145)
Depreciation and amortization (including purchase accounting amortization)	48		375		161		904		1,488
Acquisition, integration and other costs	—		—		—		293		293
Asset impairments							87		87
Adjusted EBITDA	$	397	$	1,738	$	790	$	(211)	$	2,714

Adjusted EBITDA									$	2,714
Depreciation and amortization									(594)
Purchase accounting amortization									(894)
Acquisition, integration and other costs									(293)
Asset impairments									(87)
Interest expense, net									(242)
Other income (expense), net									(8)
(Provision) benefit for income taxes									(119)
Equity method investment earnings (loss)									(18)
Net earnings attributable to noncontrolling interest									(3)
Net earnings attributable to FIS common stockholders									$	456
Capital expenditures (1)	$	50	$	358	$	167	$	28	$	603

(1)Capital expenditures for the nine months ended September 30, 2019, include $59 million in other financing obligations for certain hardware and software.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	The unaudited financial information included in this report includes the accounts of FIS and its subsidiaries prepared in accordance with U.S. generally accepted accounting principles and the instructions to Form 10-Q and Article 10 of Regulation S-X. All adjustments considered necessary for a fair presentation have been included. This report should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2019. The preparation of these consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reported periods. The inputs into management's critical and significant accounting estimates consider the economic impact of the outbreak of the novel coronavirus ("COVID-19") and the subsequently declared COVID-19 pandemic ("the pandemic") by the World Health Organization on March 11, 2020. The extent to which the pandemic further affects our results of operations and financial position will depend on future developments, which are highly uncertain and are difficult to predict, including, but not limited to, the duration and spread of the pandemic, its severity, the actions to contain the virus or treat its impact, and how quickly and to what extent normal economic and operating conditions can resume. Accordingly, our future results could be materially affected by changes in our estimates.
Segments	FIS reports its financial performance based on the following segments: Merchant Solutions, Banking Solutions, Capital Market Solutions, and Corporate and Other. As FIS continues to execute on its integration workflows and optimize its portfolio of assets, it reclassified certain non-strategic businesses from the Merchant Solutions and Banking Solutions segments into the Corporate and Other segment in the quarter ended March 31, 2020, and recast all prior-period segment information presented. These operations represented less than 2% of third quarter and year-to-date 2020 revenue.
Change in Accounting Policy	The Company adopted FASB Accounting Standards Codification ("ASC") Topic 326, Financial Instruments - Credit Losses ("Topic 326"), with an adoption date of January 1, 2020. As a result, the Company changed its accounting policy for allowance for credit losses. The accounting policy pursuant to Topic 326 for credit losses is disclosed below. The adoption of Topic 326 resulted in an immaterial cumulative effect adjustment recorded in retained earnings as of January 1, 2020.
Allowance for Credit Losses	Allowance for Credit Losses The Company monitors trade receivable balances including contract assets as well as other receivables and estimates the allowance for lifetime expected credit losses. Estimates of expected credit losses are based on historical collection experience and other factors, including those related to current market conditions and events. The allowance for credit losses is separate from the chargeback liability described in Note 9. While the COVID-19 pandemic did not result in a significant increase in the Company's expected credit loss allowance recorded as of September 30, 2020, it is reasonably possible that future developments related to the economic impact of the COVID-19 pandemic could have a material impact on management's estimates.

Disclosure of accounting policy for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security. Includes, but is not limited to, methodology used to estimate allowance for credit loss, how writeoff of uncollectible amount is recognized, and determination of past due status and nonaccrual status.

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Schedule of business acquisitions, by acquisition

Disclosure of accounting policy for segment reporting.

+ References + Details

Acquisitions (Tables)

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

The total purchase price was as follows (in millions):


Cash consideration	$	3,423
Value of FIS share consideration	38,635
Pay-off of Worldpay long-term debt not contractually assumed	5,738
Value of outstanding converted equity awards attributed to services already rendered	449
Total purchase price	$	48,245

Schedule of recognized identified assets acquired and liabilities assumed

The final purchase price allocation is as follows (in millions):


Cash acquired	$	305
Settlement deposits and merchant float (1)	2,444
Trade receivables	1,594
Goodwill	38,057
Intangible assets	13,682
Computer software	1,297
Other noncurrent assets (2)	1,641
Accounts payable, accrued and other liabilities	(1,021)
Settlement payables	(3,167)
Deferred income taxes	(2,860)
Long-term debt, subsequently repaid	(1,805)
Other liabilities and noncontrolling interest (3)	(1,922)
Total purchase price	$	48,245

(1)Includes $1,693 million of merchant float.

(2)Includes $534 million of other restricted cash.

(3)Includes $542 million of noncurrent tax receivable agreement liability (see Note 9) and $875 million contingent value rights liability (see Note 5).

Schedule of pro forma information for acquisition


	September 30, 2019
	Three months ended		Nine months ended
Revenue	$	3,154	$	9,380
Net earnings (loss) attributable to FIS common stockholders	$	215	$	348
Net earnings (loss) per share-basic attributable to FIS common stockholders	$	0.35	$	0.57
Net earnings (loss) per share-diluted attributable to FIS common stockholders	$	0.35	$	0.56

Revenue (Tables)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of revenue

For the three months ended September 30, 2020 (in millions):


	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	747	$	1,281	$	382	$	35	$	2,445
All others	270		226		244		12		752
Total	$	1,017	$	1,507	$	626	$	47	$	3,197

Type of Revenue:
Recurring revenue:
Transaction processing and services	$	996	$	1,146	$	305	$	41	$	2,488
Software maintenance	1		88		124		—		213
Other recurring	19		45		25		—		89
Total recurring	1,016		1,279		454		41		2,790

Software license	—		15		64		—		79
Professional services	—		153		108		1		262
Other non-recurring fees	1		60		—		5		66
Total	$	1,017	$	1,507	$	626	$	47	$	3,197

For the three months ended September 30, 2019 (in millions):


	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	501	$	1,216	$	378	$	48	$	2,143
All others	204		227		233		15		679
Total	$	705	$	1,443	$	611	$	63	$	2,822

Type of Revenue:
Recurring revenue:
Transaction processing and services	$	690	$	1,052	$	278	$	57	$	2,077
Software maintenance	1		91		121		—		213
Other recurring	11		44		27		—		82
Total recurring	702		1,187		426		57		2,372

Software license	1		53		82		—		136
Professional services	—		147		103		1		251
Other non-recurring fees	2		56		—		5		63
Total	$	705	$	1,443	$	611	$	63	$	2,822

For the nine months ended September 30, 2020 (in millions):


	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	2,011	$	3,789	$	1,176	$	110	$	7,086
All others	753		658		710		29		2,150
Total	$	2,764	$	4,447	$	1,886	$	139	$	9,236

Type of Revenue:
Recurring revenue:
Transaction processing and services	$	2,697	$	3,334	$	922	$	125	$	7,078
Software maintenance	2		263		368		1		634
Other recurring	58		131		75		—		264
Total recurring	2,757		3,728		1,365		126		7,976

Software license	2		48		206		—		256
Professional services	1		441		314		3		759
Other non-recurring fees	4		230		1		10		245
Total	$	2,764	$	4,447	$	1,886	$	139	$	9,236

For the nine months ended September 30, 2019 (in millions):


	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	648	$	3,472	$	1,112	$	143	$	5,375
All others	204		701		666		45		1,616
Total	$	852	$	4,173	$	1,778	$	188	$	6,991

Type of Revenue:
Recurring revenue:
Transaction processing and services	$	829	$	3,030	$	824	$	169	$	4,852
Software maintenance	1		271		361		—		633
Other recurring	12		133		80		—		225
Total recurring	842		3,434		1,265		169		5,710

Software license	7		112		214		—		333
Professional services	—		439		299		4		742
Other non-recurring fees	3		188		—		15		206
Total	$	852	$	4,173	$	1,778	$	188	$	6,991

Condensed Consolidated Financial Statement Details (Tables)

9 Months Ended

Sep. 30, 2020

Condensed Consolidated Financial Statement Details [Abstract]

Restricted cash and cash equivalents

The reconciliation between Cash and cash equivalents in the consolidated balance sheets and the consolidated statements of cash flows is as follows (in millions):


	September 30, 2020		December 31, 2019
Cash and cash equivalents on the consolidated balance sheets	$	1,826	$	1,152
Merchant float restricted cash (in Settlement deposits and merchant float)	2,009		1,519
Other restricted cash (in Other noncurrent assets) (1)	—		540
Total Cash and cash equivalents per the consolidated statements of cash flows	$	3,835	$	3,211

(1) See Visa Europe and Contingent Value Rights discussion below.

Cash and cash equivalents

The reconciliation between Cash and cash equivalents in the consolidated balance sheets and the consolidated statements of cash flows is as follows (in millions):


	September 30, 2020		December 31, 2019
Cash and cash equivalents on the consolidated balance sheets	$	1,826	$	1,152
Merchant float restricted cash (in Settlement deposits and merchant float)	2,009		1,519
Other restricted cash (in Other noncurrent assets) (1)	—		540
Total Cash and cash equivalents per the consolidated statements of cash flows	$	3,835	$	3,211

(1) See Visa Europe and Contingent Value Rights discussion below.

Condensed consolidated financial statement details

The following table shows the Company's consolidated financial statement details as of September 30, 2020, and December 31, 2019 (in millions):


	September 30, 2020						December 31, 2019
	Cost		Accumulated depreciation and amortization		Net		Cost		Accumulated depreciation and amortization		Net
Property and equipment	$	2,366	$	1,452	$	914	$	2,177	$	1,277	$	900
Intangible assets	$	18,791	$	4,567	$	14,224	$	18,564	$	2,766	$	15,798
Software	$	5,308	$	2,007	$	3,301	$	4,820	$	1,616	$	3,204

Goodwill rollforward


					Capital		Corporate
	Merchant		Banking		Market		And
	Solutions		Solutions		Solutions		Other		Total
Balance, December 31, 2019	$	35,543	$	12,225	$	4,382	$	92	$	52,242
Goodwill attributable to acquisitions	(11)		57		245		—		291
Foreign currency adjustments	16		(21)		39		—		34
Balance, September 30, 2020	$	35,548	$	12,261	$	4,666	$	92	$	52,567

Deferred Contract Costs (Tables)

9 Months Ended

Sep. 30, 2020

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Deferred Contract Cost Detail

Origination and fulfillment costs from contracts with customers capitalized as of September 30, 2020, and December 31, 2019, consist of the following (in millions):


	September 30, 2020		December 31, 2019
Contract costs on implementations in progress	$	187	$	138
Contract origination costs on completed implementations, net	472		352
Contract fulfillment costs on completed implementations, net	192		177
Total Deferred contract costs, net	$	851	$	667

Debt (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Long-term debt

Long-term debt as of September 30, 2020, and December 31, 2019, consists of the following (in millions):


	September 30, 2020
		Weighted
		Average
	Interest	Interest		September 30,		December 31,
	Rates	Rate	Maturities	2020		2019
Fixed Rate Notes
Senior USD Notes	3.0% - 5.0%	3.8%	2023 - 2048	$	4,938	$	4,938
Senior Euro Notes	0.1% - 3.0%	1.0%	2021 - 2039	9,086		8,694
Senior GBP Notes	1.7% - 3.4%	2.7%	2022 - 2031	2,380		2,440
Senior Euro Floating Rate Notes		0.0%	2021	586		561
Revolving Credit Facility (1)		—%	2023	—		600
Other				55		136
Total long-term debt, including current portion				17,045		17,369
Current portion of long-term debt				(1,832)		(140)
Long-term debt, excluding current portion				$	15,213	$	17,229

Short-term debt

Short-term borrowings as of September 30, 2020, and December 31, 2019, consists of the following (in millions):


	September 30, 2020
	Weighted
	Average
	Interest			September 30,		December 31,
	Rate		Maturities	2020		2019
Euro-commercial paper notes ("ECP Notes")	(0.1)	%	Up to 183 days	$	3,097	$	2,523
U.S. commercial paper notes ("USCP Notes")	—	%	Up to 397 days	—		200
Other				47		100
Total Short-term borrowings				$	3,144	$	2,823

Principal maturities of long-term debt


	Total
2020 remaining period	$	19
2021	1,834
2022	1,595
2023	2,189
2024	993
Thereafter	10,534
Total principal payments	17,164
Debt issuance costs, net of accumulated amortization	(95)
Total long-term debt	$	17,069

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of estimated payment obligation Ttiming

The following table summarizes our estimated payment obligation timing under the TRA as of September 30, 2020 (in millions):


			Payments Due in
Type of Obligation	Total		2020 Remaining Period		1-3 Years		3-5 Years		More than 5 Years
Obligations under TRA	$	543	$	11	$	267	$	252	$	13

Net Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings per share attributable to FIS common stockholders


	Three months ended September 30,				Nine months ended September 30,
	2020		2019		2020		2019
Net earnings attributable to FIS common stockholders	$	20	$	154	$	54	$	456
Weighted average shares outstanding — basic	620		516		618		388
Plus: Common stock equivalent shares	7		8		8		8
Weighted average shares outstanding — diluted	627		524		626		396
Net earnings per share-basic attributable to FIS common stockholders	$	0.03	$	0.30	$	0.09	$	1.18
Net earnings per share-diluted attributable to FIS common stockholders	$	0.03	$	0.29	$	0.09	$	1.15

Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment information

For the three months ended September 30, 2020 (in millions):


					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Revenue	$	1,017	$	1,507	$	626	$	47	$	3,197
Operating expenses	(604)		(986)		(411)		(965)		(2,966)
Depreciation and amortization (including purchase accounting amortization)	74		132		71		654		931
Acquisition, integration and other costs	—		—		—		195		195
Adjusted EBITDA	$	487	$	653	$	286	$	(69)	$	1,357

Adjusted EBITDA									$	1,357
Depreciation and amortization									(238)
Purchase accounting amortization									(693)
Acquisition, integration and other costs									(195)
Interest expense, net									(84)
Other income (expense), net									(4)
(Provision) benefit for income taxes									(121)
Equity method investment earnings (loss)									—
Net earnings attributable to noncontrolling interest									(2)
Net earnings attributable to FIS common stockholders									$	20
Capital expenditures	$	92	$	130	$	61	$	10	$	293

(1)Capital expenditures for the three months ended September 30, 2020, include $21 million in other financing obligations for certain hardware and software.

For the three months ended September 30, 2019 (in millions):


					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Revenue	$	705	$	1,443	$	611	$	63	$	2,822
Operating expenses	(383)		(943)		(388)		(968)		(2,682)
Depreciation and amortization (including purchase accounting amortization)	43		127		57		525		752
Acquisition, integration and other costs	—		—		—		213		213
Asset impairments	—		—		—		87		87
Adjusted EBITDA	$	365	$	627	$	280	$	(80)	$	1,192

Adjusted EBITDA									$	1,192
Depreciation and amortization									(206)
Purchase accounting amortization									(546)
Acquisition, integration and other costs									(213)
Asset impairments									(87)
Interest expense, net									(95)
Other income (expense), net									164
(Provision) benefit for income taxes									(48)
Equity method investment earnings (loss)									(5)
Net earnings attributable to noncontrolling interest									(2)
Net earnings attributable to FIS common stockholders									$	154
Capital expenditures (1)	$	47	$	156	$	59	$	21	$	283

(1)Capital expenditures for the three months ended September 30, 2019, include $24 million in other financing obligations for certain hardware and software.

For the nine months ended September 30, 2020 (in millions):


					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Revenue	$	2,764	$	4,447	$	1,886	$	139	$	9,236
Operating expenses	(1,747)		(2,963)		(1,236)		(2,905)		(8,851)
Depreciation and amortization (including purchase accounting amortization)	224		392		203		1,941		2,760
Acquisition, integration and other costs	—		—		—		616		616
Adjusted EBITDA	$	1,241	$	1,876	$	853	$	(209)	$	3,761

Adjusted EBITDA									$	3,761
Depreciation and amortization									(705)
Purchase accounting amortization									(2,055)
Acquisition, integration and other costs									(616)
Interest expense									(252)
Other income (expense), net									31
(Provision) benefit for income taxes									(94)
Equity method investment earnings (loss)									(9)
Net earnings attributable to noncontrolling interest									(7)
Net earnings attributable to FIS common stockholders									$	54
Capital expenditures	$	272	$	383	$	165	$	39	$	859

(1)Capital expenditures for the nine months ended September 30, 2020, include $21 million in other financing obligations for certain hardware and software.

For the nine months ended September 30, 2019 (in millions):


					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Revenue	$	852	$	4,173	$	1,778	$	188	$	6,991
Operating expenses	(503)		(2,810)		(1,149)		(1,683)		(6,145)
Depreciation and amortization (including purchase accounting amortization)	48		375		161		904		1,488
Acquisition, integration and other costs	—		—		—		293		293
Asset impairments							87		87
Adjusted EBITDA	$	397	$	1,738	$	790	$	(211)	$	2,714

Adjusted EBITDA									$	2,714
Depreciation and amortization									(594)
Purchase accounting amortization									(894)
Acquisition, integration and other costs									(293)
Asset impairments									(87)
Interest expense, net									(242)
Other income (expense), net									(8)
(Provision) benefit for income taxes									(119)
Equity method investment earnings (loss)									(18)
Net earnings attributable to noncontrolling interest									(3)
Net earnings attributable to FIS common stockholders									$	456
Capital expenditures (1)	$	50	$	358	$	167	$	28	$	603

(1)Capital expenditures for the nine months ended September 30, 2019, include $59 million in other financing obligations for certain hardware and software.

Basis of Presentation (Details)	3 Months Ended	9 Months Ended
Basis of Presentation (Details)	Jun. 30, 2020	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percent of revenue subject to segment reclassification of certain non-strategic businesses (less than)	2.00%	2.00%

Acquisitions - Narrative (Details) - USD ($) $ in Millions			2 Months Ended	3 Months Ended	9 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Millions	Jan. 02, 2020	Jul. 31, 2019	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2020	Dec. 31, 2019
Business Acquisition
Goodwill						$ 52,567	$ 52,242
Virtus
Business Acquisition
Ownership interest retained by founders	30.00%
Worldpay
Business Acquisition
Percentage of voting interests acquired		100.00%
Gross contractual amount of trade and other receivables required		$ 1,646
Revenue of acquiree since acquisition			$ 734
Pre-tax loss of acquiree since acquisition			$ (162)
Cash consideration		3,423
Intangible assets		13,682
Goodwill		$ 38,057
Worldpay \| Acquisition-related Costs
Business Acquisition
Reduction of cost of revenue				$ 149	$ 210
Virtus
Business Acquisition
Percentage of voting interests acquired	70.00%
Cash consideration	$ 404
Fair value of redeemable noncontrolling interest	173
Goodwill	$ 245
Redeemable noncontrolling interest, call option exercise period	2 years
Redeemable noncontrolling interest, put option exercise period	3 years
Computer software, intangible asset \| Worldpay
Business Acquisition
Weighted average useful life		7 years
Finite-lived intangible assets acquired		$ 1,297
Computer software, intangible asset \| Virtus
Business Acquisition
Intangible assets	$ 51
Customer relationships \| Worldpay
Business Acquisition
Weighted average useful life		10 years
Finite-lived intangible assets acquired		$ 13,272
Customer relationships \| Virtus
Business Acquisition
Intangible assets	$ 254
Trademarks \| Worldpay
Business Acquisition
Weighted average useful life		5 years
Finite-lived intangible assets acquired		$ 410

Acquisitions - Worldplay Purchase Price (Details) - Worldpay $ in Millions	Jul. 31, 2019 USD ($)
Business Acquisition
Cash consideration	$ 3,423
Value of FIS share consideration	38,635
Pay-off of Worldpay long-term debt not contractually assumed	5,738
Value of outstanding converted equity awards attributed to services already rendered	449
Total purchase price	$ 48,245

Acquisitions - Worldplay Purchase Price Allocation (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Jul. 31, 2019
Business Acquisition
Goodwill	$ 52,567	$ 52,242
Worldpay
Business Acquisition
Cash acquired			$ 305
Settlement deposits and merchant float			2,444
Trade receivables			1,594
Goodwill			38,057
Intangible assets			13,682
Computer software			1,297
Other noncurrent assets			1,641
Accounts payable, accrued and other liabilities			(1,021)
Settlement payables			(3,167)
Deferred income taxes			(2,860)
Long-term debt, subsequently repaid			(1,805)
Other liabilities and noncontrolling interest			(1,922)
Total purchase price			48,245
Merchant float			1,693
Restricted cash			534
Tax receivable agreement liability			542
Contingent value rights			$ 875

Acquisitions - Worldplay Pro Forma Information (Details) - Worldpay - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Business Acquisition
Revenue	$ 3,154	$ 9,380
Net earnings attributable to FIS common stockholders	$ 215	$ 348
Net earnings (loss) per share-basic attributable to FIS common stockholders (in dollars per share)	$ 0.35	$ 0.57
Net earnings (loss) per share-basic attributable to FIS common stockholders (in dollars per share)	$ 0.35	$ 0.56

Revenue - Disaggregate Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue
Revenue	$ 3,197	$ 2,822	$ 9,236	$ 6,991
Recurring
Disaggregation of Revenue
Revenue	2,790	2,372	7,976	5,710
Transaction processing and services \| Recurring
Disaggregation of Revenue
Revenue	2,488	2,077	7,078	4,852
Software maintenance \| Recurring
Disaggregation of Revenue
Revenue	213	213	634	633
Other recurring \| Recurring
Disaggregation of Revenue
Revenue	89	82	264	225
Software license \| Non-recurring
Disaggregation of Revenue
Revenue	79	136	256	333
Professional services \| Non-recurring
Disaggregation of Revenue
Revenue	262	251	759	742
Other non-recurring fees \| Non-recurring
Disaggregation of Revenue
Revenue	66	63	245	206
North America
Disaggregation of Revenue
Revenue	2,445	2,143	7,086	5,375
All others
Disaggregation of Revenue
Revenue	752	679	2,150	1,616
Corporate and other
Disaggregation of Revenue
Revenue	47	63	139	188
Corporate and other \| Recurring
Disaggregation of Revenue
Revenue	41	57	126	169
Corporate and other \| Transaction processing and services \| Recurring
Disaggregation of Revenue
Revenue	41	57	125	169
Corporate and other \| Software maintenance \| Recurring
Disaggregation of Revenue
Revenue	0	0	1	0
Corporate and other \| Other recurring \| Recurring
Disaggregation of Revenue
Revenue	0	0	0	0
Corporate and other \| Software license \| Non-recurring
Disaggregation of Revenue
Revenue	0	0	0	0
Corporate and other \| Professional services \| Non-recurring
Disaggregation of Revenue
Revenue	1	1	3	4
Corporate and other \| Other non-recurring fees \| Non-recurring
Disaggregation of Revenue
Revenue	5	5	10	15
Corporate and other \| North America
Disaggregation of Revenue
Revenue	35	48	110	143
Corporate and other \| All others
Disaggregation of Revenue
Revenue	12	15	29	45
Operating segments \| Merchant solutions
Disaggregation of Revenue
Revenue	1,017	705	2,764	852
Operating segments \| Merchant solutions \| Recurring
Disaggregation of Revenue
Revenue	1,016	702	2,757	842
Operating segments \| Merchant solutions \| Transaction processing and services \| Recurring
Disaggregation of Revenue
Revenue	996	690	2,697	829
Operating segments \| Merchant solutions \| Software maintenance \| Recurring
Disaggregation of Revenue
Revenue	1	1	2	1
Operating segments \| Merchant solutions \| Other recurring \| Recurring
Disaggregation of Revenue
Revenue	19	11	58	12
Operating segments \| Merchant solutions \| Software license \| Non-recurring
Disaggregation of Revenue
Revenue	0	1	2	7
Operating segments \| Merchant solutions \| Professional services \| Non-recurring
Disaggregation of Revenue
Revenue	0	0	1	0
Operating segments \| Merchant solutions \| Other non-recurring fees \| Non-recurring
Disaggregation of Revenue
Revenue	1	2	4	3
Operating segments \| Merchant solutions \| North America
Disaggregation of Revenue
Revenue	747	501	2,011	648
Operating segments \| Merchant solutions \| All others
Disaggregation of Revenue
Revenue	270	204	753	204
Operating segments \| Banking solutions
Disaggregation of Revenue
Revenue	1,507	1,443	4,447	4,173
Operating segments \| Banking solutions \| Recurring
Disaggregation of Revenue
Revenue	1,279	1,187	3,728	3,434
Operating segments \| Banking solutions \| Transaction processing and services \| Recurring
Disaggregation of Revenue
Revenue	1,146	1,052	3,334	3,030
Operating segments \| Banking solutions \| Software maintenance \| Recurring
Disaggregation of Revenue
Revenue	88	91	263	271
Operating segments \| Banking solutions \| Other recurring \| Recurring
Disaggregation of Revenue
Revenue	45	44	131	133
Operating segments \| Banking solutions \| Software license \| Non-recurring
Disaggregation of Revenue
Revenue	15	53	48	112
Operating segments \| Banking solutions \| Professional services \| Non-recurring
Disaggregation of Revenue
Revenue	153	147	441	439
Operating segments \| Banking solutions \| Other non-recurring fees \| Non-recurring
Disaggregation of Revenue
Revenue	60	56	230	188
Operating segments \| Banking solutions \| North America
Disaggregation of Revenue
Revenue	1,281	1,216	3,789	3,472
Operating segments \| Banking solutions \| All others
Disaggregation of Revenue
Revenue	226	227	658	701
Operating segments \| Capital market solutions
Disaggregation of Revenue
Revenue	626	611	1,886	1,778
Operating segments \| Capital market solutions \| Recurring
Disaggregation of Revenue
Revenue	454	426	1,365	1,265
Operating segments \| Capital market solutions \| Transaction processing and services \| Recurring
Disaggregation of Revenue
Revenue	305	278	922	824
Operating segments \| Capital market solutions \| Software maintenance \| Recurring
Disaggregation of Revenue
Revenue	124	121	368	361
Operating segments \| Capital market solutions \| Other recurring \| Recurring
Disaggregation of Revenue
Revenue	25	27	75	80
Operating segments \| Capital market solutions \| Software license \| Non-recurring
Disaggregation of Revenue
Revenue	64	82	206	214
Operating segments \| Capital market solutions \| Professional services \| Non-recurring
Disaggregation of Revenue
Revenue	108	103	314	299
Operating segments \| Capital market solutions \| Other non-recurring fees \| Non-recurring
Disaggregation of Revenue
Revenue	0	0	1	0
Operating segments \| Capital market solutions \| North America
Disaggregation of Revenue
Revenue	382	378	1,176	1,112
Operating segments \| Capital market solutions \| All others
Disaggregation of Revenue
Revenue	$ 244	$ 233	$ 710	$ 666

Revenue - (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Revenue - (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue from contract liability	$ 216	$ 128	$ 660	$ 636
Remaining revenue recognition	$ 21,000		$ 21,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Remaining performance obligation, percentage	35.00%		35.00%
Performance obligations expected to be satisfied, expected timing	12 months		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Remaining performance obligation, percentage	20.00%		20.00%
Performance obligations expected to be satisfied, expected timing	24 months		24 months

Condensed Consolidated Financial Statement Details - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Condensed Consolidated Financial Statement Details [Abstract]
Cash and cash equivalents on the consolidated balance sheets	$ 1,826	$ 1,152
Merchant float restricted cash (in Settlement deposits and merchant float)	2,009	1,519
Other restricted cash (in Other noncurrent assets) (1)	0	540
Total Cash and cash equivalents per the consolidated statements of cash flows	$ 3,835	$ 3,211	$ 3,830	$ 703

Condensed Consolidated Financial Statement Details - Summary of Net Assets (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Condensed Consolidated Financial Statement Details [Abstract]
Property and equipment, cost	$ 2,366	$ 2,177
Property and equipment, accumulated depreciation and amortization	1,452	1,277
Property and equipment, net	914	900
Intangible assets, cost	18,791	18,564
Intangible assets, accumulated depreciation and amortization	4,567	2,766
Intangible assets, net	14,224	15,798
Computer software, cost	5,308	4,820
Computer software, accumulated depreciation and amortization	2,007	1,616
Computer software, net	$ 3,301	$ 3,204

Condensed Consolidated Financial Statement Details - Narrative (Details) - USD ($)		3 Months Ended		9 Months Ended
	Sep. 17, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment
Finite-lived intangible assets, net		$ 13,840,000,000		$ 13,840,000,000
Amortization expense of intangible assets		602,000,000	$ 481,000,000	1,794,000,000	$ 794,000,000
Contingent value rights, fair value		779,000,000		779,000,000		$ 838,000,000
Accounts Payable and Accrued Liabilities
Property, Plant and Equipment
Contingent value rights, fair value		394,000,000		394,000,000
Other Noncurrent Liabilities
Property, Plant and Equipment
Contingent value rights, fair value		385,000,000		385,000,000
Other nonoperating income (expense)
Property, Plant and Equipment
Contingent value rights at fair value, increase		48,000,000		74,000,000
Visa Europe to Visa, Inc.
Property, Plant and Equipment
Restricted cash		$ 0		$ 0		540,000,000
Former Legacy Worldpay Owners
Property, Plant and Equipment
Contingent value rights, payment tranche one	$ 185,000,000
Visa Europe to Visa, Inc.
Property, Plant and Equipment
Percentage of disposal proceeds due to counterparty, net of tax (percent)		90.00%		90.00%
Contingent value rights		$ 593,000,000		$ 593,000,000		$ 400,000,000
Visa Europe to Visa, Inc. \| Prepaid Expenses and Other Current Assets
Property, Plant and Equipment
Contingent value rights		540,000,000		540,000,000
Visa Europe to Visa, Inc. \| Other Noncurrent Assets
Property, Plant and Equipment
Contingent value rights		53,000,000		53,000,000
Trademarks
Property, Plant and Equipment
Indefinite-lived intangible assets		43,000,000		43,000,000
Trademarks
Property, Plant and Equipment
Finite-lived intangible assets, net		$ 341,000,000		$ 341,000,000

Condensed Consolidated Financial Statement Details - Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020 USD ($)
Goodwill
Beginning balance	$ 52,242
Goodwill attributable to acquisition	291
Foreign currency adjustments	34
Ending balance	52,567
Corporate and other
Goodwill
Beginning balance	92
Goodwill attributable to acquisition	0
Foreign currency adjustments	0
Ending balance	92
Operating segments \| Merchant solutions
Goodwill
Beginning balance	35,543
Goodwill attributable to acquisition	(11)
Foreign currency adjustments	16
Ending balance	35,548
Operating segments \| Banking solutions
Goodwill
Beginning balance	12,225
Goodwill attributable to acquisition	57
Foreign currency adjustments	(21)
Ending balance	12,261
Operating segments \| Capital market solutions
Goodwill
Beginning balance	4,382
Goodwill attributable to acquisition	245
Foreign currency adjustments	39
Ending balance	$ 4,666

Deferred Contract Costs (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Capitalized Contract Cost
Total Deferred contract costs, net	$ 851	$ 667
Contract costs on implementations in progress
Capitalized Contract Cost
Total Deferred contract costs, net	187	138
Contract origination costs on completed implementations, net
Capitalized Contract Cost
Total Deferred contract costs, net	472	352
Contract fulfillment costs on completed implementations, net
Capitalized Contract Cost
Total Deferred contract costs, net	$ 192	$ 177

Deferred Contract Costs - (Narratives) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Amortization of contract costs	$ 56,000,000	$ 48,000,000	$ 162,000,000	$ 136,000,000
Deferred contract costs impairment	$ 0	$ 0	$ 0	$ 0

Debt - (Schedule of Long-Term Debt) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Long-Term Debt
Other	$ 55	$ 136
Total long-term debt	17,045	17,369
Current portion of long-term debt	(1,832)	(140)
Long-term debt, excluding current portion	$ 15,213	17,229
Revolving credit facility
Long-Term Debt
Unused commitment fee	0.225%
Revolving credit facility \| One month LIBOR \| Maximum
Long-Term Debt
Applicable margin	1.625%
Revolving credit facility
Long-Term Debt
Weighted average interest rate	0.00%
Revolving credit facility	$ 0	600
Senior notes \| Senior USD Notes
Long-Term Debt
Weighted average interest rate	3.80%
Senior notes	$ 4,938	4,938
Senior notes \| Senior USD Notes \| Minimum
Long-Term Debt
Debt instrument, stated percentage	3.00%
Senior notes \| Senior USD Notes \| Maximum
Long-Term Debt
Debt instrument, stated percentage	5.00%
Senior notes \| Senior Euro Notes
Long-Term Debt
Weighted average interest rate	1.00%
Senior notes	$ 9,086	8,694
Senior notes \| Senior Euro Notes \| Minimum
Long-Term Debt
Debt instrument, stated percentage	0.10%
Senior notes \| Senior Euro Notes \| Maximum
Long-Term Debt
Debt instrument, stated percentage	3.00%
Senior notes \| Senior GBP Notes
Long-Term Debt
Weighted average interest rate	2.70%
Senior notes	$ 2,380	2,440
Senior notes \| Senior GBP Notes \| Minimum
Long-Term Debt
Debt instrument, stated percentage	1.70%
Senior notes \| Senior GBP Notes \| Maximum
Long-Term Debt
Debt instrument, stated percentage	3.40%
Senior notes \| Senior Euro Floating Rate Notes
Long-Term Debt
Weighted average interest rate	0.00%
Senior notes	$ 586	$ 561

Debt - Short-term Debt (Details) - USD ($) $ in Millions	9 Months Ended
Debt - Short-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Short-term Debt
Other	$ 47	$ 100
Total Short-term borrowings	$ 3,144	2,823
Euro-commercial paper notes ("ECP Notes") \| Commercial paper \| FIS credit agreements
Short-term Debt
Short term debt, weighted average interest rate	(0.10%)
Maturities	183 days
Commercial paper	$ 3,097	2,523
U.S. commercial paper notes ("USCP Notes") \| Commercial paper \| FIS credit agreements
Short-term Debt
Short term debt, weighted average interest rate	0.00%
Maturities	397 days
Commercial paper	$ 0	$ 200

Debt - (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument
Debt, weighted average interest rate	1.60%
Fair value aggregate difference	$ 1,422	$ 900
FIS credit agreements
Debt Instrument
Unamortized discount (premium), net	24
Revolving credit facility
Debt Instrument
Borrowing capacity remaining	2,401
Line of credit facility, capacity backstopped	3,097
Credit facility outstanding amount	0	$ 600
Letter of credit
Debt Instrument
Credit facility outstanding amount	$ 2

Debt - (Principal Maturities of Long-Term Debt) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Principal maturities of long-term debt
Total long-term debt	$ 17,045	$ 17,369
FIS credit agreements
Principal maturities of long-term debt
2020 remaining period	19
2021	1,834
2022	1,595
2023	2,189
2024	993
Thereafter	10,534
Total principal payments	17,164
Debt issuance costs, net of accumulated amortization	(95)
Total long-term debt	$ 17,069

Financial Instruments - (Narratives) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 EUR (€)	Sep. 30, 2020 GBP (£)	Dec. 31, 2019 USD ($)
Net investment hedges \| Floating rate notes, may 2021 euro notes, 2023 euro notes, 2027 euro notes, 2030 euro notes, 2039 euro notes, and ECP notes \| Senior notes
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives
Notional amount \| €					€ 10,904,000,000
Net investment hedges \| Sterling senior notes due 2022 to 2031 \| Senior notes
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives
Notional amount \| £						£ 1,850,000,000
Interest rate swap \| Fair value hedging
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives
Notional amount \| €					500,000,000
Interest rate swap \| Fair value hedging \| 1.1% Euro senior notes due July 2024 \| Senior notes
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives
Derivative asset fair value	$ 15		$ 15				$ 10
Interest rate swap \| Net investment hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives
Derivative asset fair value	(76)		(76)
Derivative asset fair value, gross liability							$ (167)
Currency forward contract \| Net investment hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives
Gain (loss) for the change in fair value on derivative used in net investment hedge, after tax, recorded in other comprehensive earnings loss	$ (597)	$ 185	$ (263)	$ 198
Currency swap \| Net investment hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives
Notional amount					€ 2,006,000,000	£ 556,000,000

Commitments and Contingencies - (Narrative) (Details) $ in Millions			1 Months Ended	9 Months Ended
	Oct. 12, 2020 USD ($)	Sep. 30, 2020 USD ($) claim	Jan. 31, 2020 USD ($)	Sep. 30, 2020 USD ($) claim
Loss Contingencies
Tax receivable agreement commitment (percent)		85.00%		85.00%
Payments from the exercise of call options			$ 42.0
Tax receivable agreement obligations		$ 543.0		$ 543.0
Pending litigation \| Potential tax liability \| Secretariat of the federal revenue bureau of brazil
Loss Contingencies
Loss contingency, value of damages sought		$ 11.0
Loss contingency, number of claims pending \| claim		14		14
Loss contingency, number of potential new claims filed \| claim		24		24
Loss contingency, potential additional claims amount sought		$ 34.0		$ 34.0
Loss contingency, number of total pending and potential pending claims \| claim		38		38
Pending litigation \| Potential tax liability \| Secretariat of the federal revenue bureau of brazil \| Maximum
Loss Contingencies
Loss contingency, estimate of possible loss		$ 45.0		$ 45.0
Reliance trust claims \| Pending litigation
Loss Contingencies
Loss contingency, value of damages sought				$ 127.0
Reliance trust claims \| Settled Litigation \| Subsequent Event
Loss Contingencies
Litigation Settlement, Amount Awarded to Other Party	$ 39.8
Loss Contingency Accrual	$ 39.8

Commitments and Contingencies - Future Commitments (Details) - Obligations under TRA $ in Millions	Sep. 30, 2020 USD ($)
Other Commitments
Total	$ 543
2020 Remaining Period	11
1-3 Years	267
3-5 Years	252
More than 5 Years	$ 13

Related-Party Transactions - (Narrative) (Details) - Cardinal holdings - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Related Party Transaction
Ownership percentage	37.00%	37.00%
Equity method investment	$ 134	$ 142

Net Earnings per Share - (Summary of Earnings per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net earnings attributable to FIS common stockholders	$ 20	$ 154	$ 54	$ 456
Weighted average shares outstanding — basic (in shares)	620	516	618	388
Plus: Common stock equivalent shares (in shares)	7	8	8	8
Weighted average shares outstanding — diluted (in shares)	627	524	626	396
Net earnings per share — basic attributable to FIS common stockholders (in dollars per share)	$ 0.03	$ 0.30	$ 0.09	$ 1.18
Net earnings per share — diluted attributable to FIS common stockholders (in dollars per share)	$ 0.03	$ 0.29	$ 0.09	$ 1.15

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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