0001136893-21-000094 | 10-Q | XBRL Viewer | Fidelity National Information Services INC

Deferred Contract Costs (Tables)

3 Months Ended

Mar. 31, 2021

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

Origination and fulfillment costs from contracts with customers capitalized as of March 31, 2021, and December 31, 2020, consist of the following (in millions):


	March 31, 2021		December 31, 2020
Contract costs on implementations in progress	$	186	$	245
Contract origination costs on completed implementations, net	540		470
Contract fulfillment costs on completed implementations, net	233		202
Total Deferred contract costs, net	$	959	$	917

Segment Information - (Narrative) (Details) $ in Millions	3 Months Ended
Segment Information - (Narrative) (Details) $ in Millions	Mar. 31, 2021 USD ($) country	Mar. 31, 2020 USD ($)
COVID-19 Pandemic
Segment Reporting Information
Incremental charges \| $	$ 9	$ 3
Accelerated stock compensation expense \| $	104
Worldpay
Segment Reporting Information
Data center consolidation costs \| $	$ 15	$ 18
Merchant solutions \| Minimum
Segment Reporting Information
Number of countries we operate in (more than) \| country	140
Banking solutions \| Minimum
Segment Reporting Information
Number of countries we operate in (more than) \| country	100
Capital market solutions \| Minimum
Segment Reporting Information
Number of countries we operate in (more than) \| country	100

Stock Compensation Plans - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021 USD ($)
Qualified Retirement Equity Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated stock compensation expense	$ 104

Revenue (Tables)

3 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of revenue

For the three months ended March 31, 2021 (in millions):


	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	681	$	1,311	$	370	$	58	$	2,420
All others	285		229		255		34		803
Total	$	966	$	1,540	$	625	$	92	$	3,223

Type of Revenue:
Recurring revenue:
Transaction processing and services	$	943	$	1,164	$	291	$	84	$	2,482
Software maintenance	1		88		127		—		216
Other recurring	20		38		24		3		85
Total recurring	964		1,290		442		87		2,783

Software license	1		24		68		—		93
Professional services	—		146		106		1		253
Other non-recurring fees	1		80		9		4		94
Total	$	966	$	1,540	$	625	$	92	$	3,223

For the three months ended March 31, 2020 (in millions):


	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	661	$	1,242	$	373	$	72	$	2,348
All others	274		202		224		30		730
Total	$	935	$	1,444	$	597	$	102	$	3,078

Type of Revenue:
Recurring revenue:
Transaction processing and services	$	911	$	1,078	$	278	$	97	$	2,364
Software maintenance	1		88		121		1		211
Other recurring	21		44		24		—		89
Total recurring	933		1,210		423		98		2,664

Software license	—		19		73		—		92
Professional services	—		143		101		2		246
Other non-recurring fees	2		72		—		2		76
Total	$	935	$	1,444	$	597	$	102	$	3,078

Debt - (Schedule of Long-Term Debt) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Long-Term Debt
Other	$ (132)	$ 46
Total long-term debt	16,902	17,265
Current portion of long-term debt	(602)	(1,314)
Long-term debt, excluding current portion	$ 16,300	15,951
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	251
Senior notes \| Senior USD Notes
Long-Term Debt
Weighted average interest rate	1.90%
Senior notes	$ 6,909	4,938
Senior notes \| Senior USD Notes \| Minimum
Long-Term Debt
Debt instrument, stated percentage	0.40%
Senior notes \| Senior USD Notes \| Maximum
Long-Term Debt
Debt instrument, stated percentage	4.80%
Senior notes \| Senior Euro Notes
Long-Term Debt
Weighted average interest rate	1.30%
Senior notes	$ 7,916	8,891
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	1.50%
Senior notes	$ 1,686	2,526
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	$ 523	$ 613

Related-Party Transactions	3 Months Ended
Related-Party Transactions	Mar. 31, 2021
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 was 36% at March 31, 2021, and December 31, 2020. 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 was $140 million and $137 million, at March 31, 2021, and December 31, 2020, respectively. FIS provides ongoing management consulting services and other services to Cardinal. FIS also purchases services and software licenses from Cardinal from time to time. Amounts transacted through these agreements were not significant to the 2021 and 2020 periods presented.On April 29, 2021, we sold our ownership stake in Cardinal for net cash proceeds of approximately $367 million resulting from an acquisition transaction of the Capco consulting business by Wipro Ltd. We will record the sale transaction during the second quarter of 2021.

Deferred Contract Costs (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Capitalized Contract Cost
Total Deferred contract costs, net	$ 959	$ 917
Contract costs on implementations in progress
Capitalized Contract Cost
Total Deferred contract costs, net	186	245
Contract origination costs on completed implementations, net
Capitalized Contract Cost
Total Deferred contract costs, net	540	470
Contract fulfillment costs on completed implementations, net
Capitalized Contract Cost
Total Deferred contract costs, net	$ 233	$ 202

Financial Instruments	3 Months Ended
Financial Instruments	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Financial Instruments Fair Value Hedges The Company holds interest rate swaps with aggregate notional amounts of $1,604 million, £925 million and €500 million at March 31, 2021, and $1,000 million and €500 million at December 31, 2020, converting the interest rate exposure on certain of the Company's Senior USD Notes, Senior GBP Notes and Senior Euro Notes, as applicable, from fixed to variable. These swaps are designated as fair value hedges for accounting purposes with a net liability fair value of $96 million reflected as a decrease in the long-term debt balance at March 31, 2021, and a net asset fair value of $10 million reflected as an increase in the long-term debt balance at December 31, 2020 (see Note 5). 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) for the change in fair value as Foreign currency translation adjustments and related income tax (expense) benefit within Other comprehensive earnings (loss), net of tax, on the consolidated statements of comprehensive earnings (loss) of $321 million and $535 million during the three months ended March 31, 2021 and 2020, 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 March 31, 2021, and December 31, 2020, an aggregate €6,968 million and €7,466 million, respectively, was designated as a net investment hedge of the Company's investment in Euro-denominated operations related to Senior Euro Notes with maturities ranging from 2022 to 2039 and ECP Notes. As of December 31, 2020, an additional €1,000 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 and Senior Euro Notes with a 2021 maturity. As of March 31, 2021, and December 31, 2020, an aggregate £1,203 million and £1,850 million, respectively, 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 March 31, 2021, and December 31, 2020, aggregate notional amounts of €5,906 million and €4,508 million, respectively, were designated as net investment hedges of the Company's investment in Euro-denominated operations, and aggregate notional amounts of £2,045 million and £565 million, respectively, were designated as net investment hedges of the Company's Pound Sterling-denominated operations. The cross-currency interest rate swap fair values were net liabilities of $206 million and $306 million at March 31, 2021, and December 31, 2020, respectively.

Condensed Consolidated Financial Statement Details - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Condensed Consolidated Financial Statement Details [Abstract]
Cash and cash equivalents on the consolidated balance sheets	$ 1,039	$ 1,959
Merchant float restricted cash (in Settlement deposits and merchant float)	2,085	2,071
Total Cash and cash equivalents per the consolidated statements of cash flows	$ 3,124	$ 4,030	$ 3,440	$ 3,211

Net Earnings (Loss) per Share - (Narrative) (Details) - USD ($) shares in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Jan. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares) (less than)	5
Stock repurchase program authorized amount			$ 100,000,000
Stock repurchase program, authorized amount remaining	$ 97,000,000
Share-based Payment Arrangement, Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares) (less than)	1	1

Condensed Consolidated Financial Statement Details

3 Months Ended

Mar. 31, 2021

Condensed Consolidated Financial Statement Details [Abstract]

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):


	March 31, 2021		December 31, 2020
Cash and cash equivalents on the consolidated balance sheets	$	1,039	$	1,959
Merchant float restricted cash (in Settlement deposits and merchant float)	2,085		2,071
Total Cash and cash equivalents per the consolidated statements of cash flows	$	3,124	$	4,030

Allowance for Credit Losses

The Company monitors trade receivables, contract assets as well as other receivable balances 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 7.

While the COVID-19 pandemic did not result in a significant increase in the Company's expected credit loss allowance recorded as of March 31, 2021, 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.

Property and Equipment, Intangible Assets and Computer Software

The following table shows the Company's consolidated financial statement details as of March 31, 2021, and December 31, 2020 (in millions):


	March 31, 2021						December 31, 2020
	Cost		Accumulated depreciation and amortization		Net		Cost		Accumulated depreciation and amortization		Net
Property and equipment	$	2,319	$	1,456	$	863	$	2,292	$	1,405	$	887
Intangible assets	$	19,117	$	5,802	$	13,315	$	19,141	$	5,213	$	13,928
Software	$	5,838	$	2,456	$	3,382	$	5,535	$	2,165	$	3,370

As of March 31, 2021, intangible assets, net of amortization, includes $12,947 million of customer relationships and $368 million of trademarks and other intangible assets. Amortization expense with respect to these intangible assets was $595 million and $598 million for the three months ended March 31, 2021 and 2020, respectively.

Goodwill

Changes in goodwill during the three months ended March 31, 2021, are summarized below (in millions).


					Capital		Corporate
	Merchant		Banking		Market		And
	Solutions		Solutions		Solutions		Other		Total
Balance, December 31, 2020	$	36,267	$	12,279	$	4,702	$	20	$	53,268
Foreign currency adjustments	(164)		(19)		(16)		—		(199)
Balance, March 31, 2021	$	36,103	$	12,260	$	4,686	$	20	$	53,069

We assess goodwill for impairment on an annual basis during the fourth quarter or more frequently if circumstances indicate potential impairment. For 2020, we completed our annual assessment for the Banking Solutions and Capital Market Solutions reporting units with qualitative assessments and concluded that it remained more likely than not that the fair value of each reporting unit continued to exceed its carrying value. For Merchant Solutions, we completed our 2020 annual assessment with a quantitative assessment due to the economic impact of the COVID-19 pandemic on our Merchant Solutions business and its primary operations having been recently acquired as part of the Worldpay acquisition completed on July 31, 2019. As a result of the annual assessment, the fair value of the reporting unit was estimated to be in excess of carrying amount by approximately 4%.

Due to the continued economic impact of the COVID-19 pandemic, we evaluated if events and circumstances as of March 31, 2021, indicated potential impairment. We performed a qualitative assessment by examining factors most likely to affect our reporting units' fair values 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) forecast 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 March 31, 2021, we concluded that it remained more likely than not that the fair value continues to exceed the carrying amount for each of our reporting units; 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 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. Also in connection with the disposal, and pursuant to the terms of an amendment executed on September 17, 2020, the Company will pay the 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.

The Company has elected the fair value option under ASC 825, Financial Instruments ("ASC 825"), for measuring its preferred stock asset and CVR liability. The fair value of the preferred stock was $50 million and $70 million at March 31, 2021, and December 31, 2020, respectively, recorded in Other noncurrent assets on the consolidated balance sheets. The fair value of the CVR liability was $377 million and $401 million at March 31, 2021, and December 31, 2020, respectively, recorded in Other noncurrent liabilities on the consolidated balance sheets. The net change in fair value was $5 million and $(20) million for the three months ended March 31, 2021 and 2020, respectively, recorded in Other income (expense), net on the consolidated statements of earnings (loss).

Condensed Consolidated Financial Statement Details - Intangible Assets Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	$ 12,947
Amortization expense of intangible assets	595
Trademarks and Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	$ 368
Amortization expense of intangible assets		$ 598

Condensed Consolidated Financial Statement Details - Visa Europe and Contingent Value Rights Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Contingent Value Rights [Line Items]
Contingent value rights, fair value	$ 377		$ 401
Other nonoperating income (expense)
Contingent Value Rights [Line Items]
Contingent value rights at fair value, increase	$ 5	$ (20)
Visa Europe to Visa, Inc.
Contingent Value Rights [Line Items]
Percentage of disposal proceeds due to counterparty, net of tax (percent)	90.00%
Contingent value rights	$ 50		$ 70

Revenue - Disaggregate Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue
Revenue	$ 3,223	$ 3,078
Recurring
Disaggregation of Revenue
Revenue	2,783	2,664
Transaction processing and services \| Recurring
Disaggregation of Revenue
Revenue	2,482	2,364
Software maintenance \| Recurring
Disaggregation of Revenue
Revenue	216	211
Other recurring \| Recurring
Disaggregation of Revenue
Revenue	85	89
Software license \| Non-recurring
Disaggregation of Revenue
Revenue	93	92
Professional services \| Non-recurring
Disaggregation of Revenue
Revenue	253	246
Other non-recurring fees \| Non-recurring
Disaggregation of Revenue
Revenue	94	76
North America
Disaggregation of Revenue
Revenue	2,420	2,348
All others
Disaggregation of Revenue
Revenue	803	730
Corporate and other
Disaggregation of Revenue
Revenue	92	102
Corporate and other \| Recurring
Disaggregation of Revenue
Revenue	87	98
Corporate and other \| Transaction processing and services \| Recurring
Disaggregation of Revenue
Revenue	84	97
Corporate and other \| Software maintenance \| Recurring
Disaggregation of Revenue
Revenue	0	1
Corporate and other \| Other recurring \| Recurring
Disaggregation of Revenue
Revenue	3	0
Corporate and other \| Software license \| Non-recurring
Disaggregation of Revenue
Revenue	0	0
Corporate and other \| Professional services \| Non-recurring
Disaggregation of Revenue
Revenue	1	2
Corporate and other \| Other non-recurring fees \| Non-recurring
Disaggregation of Revenue
Revenue	4	2
Corporate and other \| North America
Disaggregation of Revenue
Revenue	58	72
Corporate and other \| All others
Disaggregation of Revenue
Revenue	34	30
Operating segments \| Merchant solutions
Disaggregation of Revenue
Revenue	966	935
Operating segments \| Merchant solutions \| Recurring
Disaggregation of Revenue
Revenue	964	933
Operating segments \| Merchant solutions \| Transaction processing and services \| Recurring
Disaggregation of Revenue
Revenue	943	911
Operating segments \| Merchant solutions \| Software maintenance \| Recurring
Disaggregation of Revenue
Revenue	1	1
Operating segments \| Merchant solutions \| Other recurring \| Recurring
Disaggregation of Revenue
Revenue	20	21
Operating segments \| Merchant solutions \| Software license \| Non-recurring
Disaggregation of Revenue
Revenue	1	0
Operating segments \| Merchant solutions \| Professional services \| Non-recurring
Disaggregation of Revenue
Revenue	0	0
Operating segments \| Merchant solutions \| Other non-recurring fees \| Non-recurring
Disaggregation of Revenue
Revenue	1	2
Operating segments \| Merchant solutions \| North America
Disaggregation of Revenue
Revenue	681	661
Operating segments \| Merchant solutions \| All others
Disaggregation of Revenue
Revenue	285	274
Operating segments \| Banking solutions
Disaggregation of Revenue
Revenue	1,540	1,444
Operating segments \| Banking solutions \| Recurring
Disaggregation of Revenue
Revenue	1,290	1,210
Operating segments \| Banking solutions \| Transaction processing and services \| Recurring
Disaggregation of Revenue
Revenue	1,164	1,078
Operating segments \| Banking solutions \| Software maintenance \| Recurring
Disaggregation of Revenue
Revenue	88	88
Operating segments \| Banking solutions \| Other recurring \| Recurring
Disaggregation of Revenue
Revenue	38	44
Operating segments \| Banking solutions \| Software license \| Non-recurring
Disaggregation of Revenue
Revenue	24	19
Operating segments \| Banking solutions \| Professional services \| Non-recurring
Disaggregation of Revenue
Revenue	146	143
Operating segments \| Banking solutions \| Other non-recurring fees \| Non-recurring
Disaggregation of Revenue
Revenue	80	72
Operating segments \| Banking solutions \| North America
Disaggregation of Revenue
Revenue	1,311	1,242
Operating segments \| Banking solutions \| All others
Disaggregation of Revenue
Revenue	229	202
Operating segments \| Capital market solutions
Disaggregation of Revenue
Revenue	625	597
Operating segments \| Capital market solutions \| Recurring
Disaggregation of Revenue
Revenue	442	423
Operating segments \| Capital market solutions \| Transaction processing and services \| Recurring
Disaggregation of Revenue
Revenue	291	278
Operating segments \| Capital market solutions \| Software maintenance \| Recurring
Disaggregation of Revenue
Revenue	127	121
Operating segments \| Capital market solutions \| Other recurring \| Recurring
Disaggregation of Revenue
Revenue	24	24
Operating segments \| Capital market solutions \| Software license \| Non-recurring
Disaggregation of Revenue
Revenue	68	73
Operating segments \| Capital market solutions \| Professional services \| Non-recurring
Disaggregation of Revenue
Revenue	106	101
Operating segments \| Capital market solutions \| Other non-recurring fees \| Non-recurring
Disaggregation of Revenue
Revenue	9	0
Operating segments \| Capital market solutions \| North America
Disaggregation of Revenue
Revenue	370	373
Operating segments \| Capital market solutions \| All others
Disaggregation of Revenue
Revenue	$ 255	$ 224

Revenue

3 Months Ended

Mar. 31, 2021

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 recast to conform to the new reportable segment presentation as discussed in Note 11.

For the three months ended March 31, 2021 (in millions):


	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	681	$	1,311	$	370	$	58	$	2,420
All others	285		229		255		34		803
Total	$	966	$	1,540	$	625	$	92	$	3,223

Type of Revenue:
Recurring revenue:
Transaction processing and services	$	943	$	1,164	$	291	$	84	$	2,482
Software maintenance	1		88		127		—		216
Other recurring	20		38		24		3		85
Total recurring	964		1,290		442		87		2,783

Software license	1		24		68		—		93
Professional services	—		146		106		1		253
Other non-recurring fees	1		80		9		4		94
Total	$	966	$	1,540	$	625	$	92	$	3,223

For the three months ended March 31, 2020 (in millions):


	Reportable Segments
					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Primary Geographical Markets:
North America	$	661	$	1,242	$	373	$	72	$	2,348
All others	274		202		224		30		730
Total	$	935	$	1,444	$	597	$	102	$	3,078

Type of Revenue:
Recurring revenue:
Transaction processing and services	$	911	$	1,078	$	278	$	97	$	2,364
Software maintenance	1		88		121		1		211
Other recurring	21		44		24		—		89
Total recurring	933		1,210		423		98		2,664

Software license	—		19		73		—		92
Professional services	—		143		101		2		246
Other non-recurring fees	2		72		—		2		76
Total	$	935	$	1,444	$	597	$	102	$	3,078

Contract Balances

The Company recognized revenue of $327 million and $338 million during the three months ended March 31, 2021 and 2020, 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 March 31, 2021, approximately $21.0 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 32% of the Banking Solutions and Capital Market Solutions segments' remaining performance obligations over the next 12 months, approximately another 22% 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.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Name Accounting Standards Codification
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+ Details

Condensed Consolidated Financial Statement Details (Tables)

3 Months Ended

Mar. 31, 2021

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):


	March 31, 2021		December 31, 2020
Cash and cash equivalents on the consolidated balance sheets	$	1,039	$	1,959
Merchant float restricted cash (in Settlement deposits and merchant float)	2,085		2,071
Total Cash and cash equivalents per the consolidated statements of cash flows	$	3,124	$	4,030

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):


	March 31, 2021		December 31, 2020
Cash and cash equivalents on the consolidated balance sheets	$	1,039	$	1,959
Merchant float restricted cash (in Settlement deposits and merchant float)	2,085		2,071
Total Cash and cash equivalents per the consolidated statements of cash flows	$	3,124	$	4,030

Condensed consolidated financial statement details

The following table shows the Company's consolidated financial statement details as of March 31, 2021, and December 31, 2020 (in millions):


	March 31, 2021						December 31, 2020
	Cost		Accumulated depreciation and amortization		Net		Cost		Accumulated depreciation and amortization		Net
Property and equipment	$	2,319	$	1,456	$	863	$	2,292	$	1,405	$	887
Intangible assets	$	19,117	$	5,802	$	13,315	$	19,141	$	5,213	$	13,928
Software	$	5,838	$	2,456	$	3,382	$	5,535	$	2,165	$	3,370

Goodwill rollforward

Changes in goodwill during the three months ended March 31, 2021, are summarized below (in millions).


					Capital		Corporate
	Merchant		Banking		Market		And
	Solutions		Solutions		Solutions		Other		Total
Balance, December 31, 2020	$	36,267	$	12,279	$	4,702	$	20	$	53,268
Foreign currency adjustments	(164)		(19)		(16)		—		(199)
Balance, March 31, 2021	$	36,103	$	12,260	$	4,686	$	20	$	53,069

Debt - Short-term Debt (Details) - USD ($) $ in Millions	3 Months Ended
Debt - Short-term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Short-term Debt
Other	$ 165	$ 144
Total Short-term borrowings	$ 2,537	2,750
Euro-commercial paper notes ("ECP Notes") \| Commercial paper \| FIS credit agreements
Short-term Debt
Short term debt, weighted average interest rate	(0.50%)
Maturities	183 days
Commercial paper	$ 243	861
U.S. commercial paper notes ("USCP Notes") \| Commercial paper \| FIS credit agreements
Short-term Debt
Short term debt, weighted average interest rate	0.30%
Maturities	397 days
Commercial paper	$ 2,129	$ 1,745

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,039	$ 1,959
Settlement deposits and merchant float	2,919	3,252
Trade receivables, net of allowance for credit losses of $82 and $82, respectively	3,508	3,314
Settlement receivables	703	662
Other receivables	470	317
Prepaid expenses and other current assets	466	394
Total current assets	9,105	9,898
Property and equipment, net	863	887
Goodwill	53,069	53,268
Intangible assets, net	13,315	13,928
Software, net	3,382	3,370
Other noncurrent assets	1,624	1,574
Deferred contract costs, net	959	917
Total assets	82,317	83,842
Current liabilities:
Accounts payable, accrued and other liabilities	2,370	2,482
Settlement payables	4,735	4,934
Deferred revenue	964	881
Short-term borrowings	2,537	2,750
Current portion of long-term debt	602	1,314
Total current liabilities	11,208	12,361
Long-term debt, excluding current portion	16,300	15,951
Deferred income taxes	4,115	4,017
Other noncurrent liabilities	1,986	1,967
Deferred revenue	59	59
Total liabilities	33,668	34,355
Redeemable noncontrolling interest	175	174
FIS stockholders’ equity:
Preferred stock $0.01 par value; 200 shares authorized, none issued and outstanding at March 31, 2021 and December 31, 2020	0	0
Common stock $0.01 par value, 750 shares authorized, 624 and 621 shares issued as of March 31, 2021 and December 31, 2020, respectively	6	6
Additional paid in capital	46,152	45,947
Retained earnings	2,823	3,440
Accumulated other comprehensive earnings (loss)	124	57
Treasury stock, $0.01 par value, 4 and 1 common shares as of March 31, 2021 and December 31, 2020, respectively, at cost	(645)	(150)
Total FIS stockholders’ equity	48,460	49,300
Noncontrolling interest	14	13
Total equity	48,474	49,313
Total liabilities, redeemable noncontrolling interest and equity	$ 82,317	$ 83,842

Debt - (Narrative) (Details) - USD ($)	1 Months Ended	3 Months Ended
Debt - (Narrative) (Details) - USD ($)	Mar. 31, 2021	Mar. 31, 2021	Mar. 31, 2020	Mar. 02, 2021	Dec. 31, 2020
Debt Instrument
Debt, weighted average interest rate	1.00%	1.00%
Repayments of long-term debt		$ 14,364,000,000	$ 10,391,000,000
Loss on extinguishment of debt		528,000,000	$ 0
Fair value aggregate difference	$ 650,000,000	650,000,000			$ 1,640,000,000
Senior notes
Debt Instrument
Repayments of long-term debt	5,100,000,000
Loss on extinguishment of debt	528,000,000
FIS credit agreements
Debt Instrument
Unamortized discount (premium), net	(141,000,000)	$ (141,000,000)
Senior USD Notes \| Senior notes
Debt Instrument
Repayments of long-term debt	3,529,000,000
Principal amount of debt				$ 5,500,000,000
Senior USD Notes \| Senior notes \| Minimum
Debt Instrument
Debt instrument, interest rate, effective percentage				0.40%
Senior USD Notes \| Senior notes \| Maximum
Debt Instrument
Debt instrument, interest rate, effective percentage				3.10%
Senior Euro Notes \| Senior notes
Debt Instrument
Repayments of long-term debt	600,000,000
Senior GBP Notes \| Senior notes
Debt Instrument
Repayments of long-term debt	871,000,000
Senior Euro Floating Rate Notes \| Senior notes
Debt Instrument
Repayments of long-term debt	$ 66,000,000
Senior Euro Floating Rate Notes \| Senior notes \| Minimum
Debt Instrument
Debt instrument, interest rate, effective percentage	0.00%	0.00%
Senior Euro Floating Rate Notes \| Senior notes \| Maximum
Debt Instrument
Debt instrument, interest rate, effective percentage	5.00%	5.00%
Revolving Credit Facility
Debt Instrument
Borrowing capacity remaining	$ 3,126,000,000	$ 3,126,000,000
Line of credit facility, capacity backstopped	2,372,000,000	2,372,000,000
Credit facility outstanding amount	0	0			$ 251,000,000
Letter of credit
Debt Instrument
Credit facility outstanding amount	$ 2,000,000	$ 2,000,000

Condensed Consolidated Financial Statement Details - Goodwill Narrative (Details)	Dec. 31, 2020
Merchant solutions
Goodwill [Line Items]
Reporting unit, percentage of fair value in excess of carrying amount	4.00%

Organization, Consolidation and Presentation of Financial Statements (Policies)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [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, 2020. 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. The Company regularly assesses its portfolio of assets and reclassified certain non-strategic businesses from the Merchant Solutions, Banking Solutions, and Capital Market Solutions segments into the Corporate and Other segment during the year ended December 31, 2020, and recast all prior-period segment information presented.
Allowance for Credit Losses	The Company monitors trade receivables, contract assets as well as other receivable balances 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 7.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 35
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-URI http://asc.fasb.org/extlink&oid=121565518&loc=SL120269220-210453

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=121599337&loc=SL120267969-210447

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 13A
-URI http://asc.fasb.org/extlink&oid=121565518&loc=SL120267917-210453

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 326
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-Section 35
-Paragraph 8A
-URI http://asc.fasb.org/extlink&oid=121648281&loc=SL120267834-210445

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=121647444&loc=SL120269210-210444

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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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Disclosure of accounting policy for segment reporting.

+ References + Details

Condensed Consolidated Statements of Comprehensive Earnings (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ (370)	$ 18
Other comprehensive earnings (loss), before tax:
Unrealized gain (loss) on derivatives	9	0
Foreign currency translation adjustments	185	(208)
Other adjustments	0	1
Other comprehensive earnings (loss), before tax	194	(207)
Provision for income tax (expense) benefit related to items of other comprehensive earnings	(127)	(8)
Other comprehensive earnings (loss), net of tax	67	(215)
Comprehensive earnings (loss)	(303)	(197)
Net (earnings) loss attributable to noncontrolling interest	(3)	(3)
Comprehensive earnings (loss) attributable to FIS common stockholders	$ (306)	$ (200)

Commitments and Contingencies - (Narrative) (Details) $ in Millions		3 Months Ended
	Oct. 12, 2020 USD ($)	Mar. 31, 2021 USD ($) claim	Dec. 31, 2020 USD ($)
Loss Contingencies
Tax receivable agreement commitment (percent)		85.00%
Tax receivable agreement obligations		$ 448.0	$ 532.0
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
Loss contingency, number of potential new claims filed \| claim		24
Loss contingency, potential additional claims amount sought		$ 30.0
Loss contingency, number of total pending and potential pending claims \| claim		38
Pending litigation \| Potential tax liability \| Secretariat of the federal revenue bureau of brazil \| Maximum
Loss Contingencies
Loss contingency, estimate of possible loss		$ 41.0
Reliance trust claims \| Pending litigation
Loss Contingencies
Loss contingency, value of damages sought		$ 127.0
Reliance trust claims \| Settled Litigation
Loss Contingencies
Litigation settlement, amount awarded to other party	$ 39.8
Loss contingency accrual	$ 39.8

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Trade receivables, allowance for credit loss, current	$ 82	$ 82
Stockholders' Equity Attributable to Parent [Abstract]
Preferred stock par value (USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	200,000,000	200,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	624,000,000	621,000,000
Treasury stock (in shares)	4,000,000	1,000,000

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2021	May 05, 2021
Document Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-16427
Entity Registrant Name	Fidelity National Information Services, Inc.
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	37-1490331
Entity Address, Street Name	601 Riverside Avenue
Entity Address, City	Jacksonville
Entity Address, State	FL
Entity Address, Postal Zip Code	32204
City Area Code	904
Local Phone Number	438-6000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		620,125,558
Entity Central Index Key	0001136893
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Common Stock, par value $0.01 per share
Document Information
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	FIS
Security Exchange Name	NYSE
Floating Rate Senior Notes due 2021
Document Information
Title of 12(b) Security	Floating Rate Senior Notes due 2021
Trading Symbol	FIS21B
Security Exchange Name	NYSE
1.700% Senior Notes due 2022
Document Information
Title of 12(b) Security	1.700% Senior Notes due 2022
Trading Symbol	FIS22B
Security Exchange Name	NYSE
0.125% Senior Notes due 2022
Document Information
Title of 12(b) Security	0.125% Senior Notes due 2022
Trading Symbol	FIS22C
Security Exchange Name	NYSE
0.750% Senior Notes due 2023
Document Information
Title of 12(b) Security	0.750% Senior Notes due 2023
Trading Symbol	FIS23A
Security Exchange Name	NYSE
1.100% Senior Notes due 2024
Document Information
Title of 12(b) Security	1.100% Senior Notes due 2024
Trading Symbol	FIS24A
Security Exchange Name	NYSE
0.625% Senior Notes due 2025
Document Information
Title of 12(b) Security	0.625% Senior Notes due 2025
Trading Symbol	FIS25B
Security Exchange Name	NYSE
1.500% Senior Notes due 2027
Document Information
Title of 12(b) Security	1.500% Senior Notes due 2027
Trading Symbol	FIS27
Security Exchange Name	NYSE
1.000% Senior Notes due 2028
Document Information
Title of 12(b) Security	1.000% Senior Notes due 2028
Trading Symbol	FIS28
Security Exchange Name	NYSE
2.250% Senior Notes due 2029
Document Information
Title of 12(b) Security	2.250% Senior Notes due 2029
Trading Symbol	FIS29
Security Exchange Name	NYSE
2.000% Senior Notes due 2030
Document Information
Title of 12(b) Security	2.000% Senior Notes due 2030
Trading Symbol	FIS30
Security Exchange Name	NYSE
3.360% Senior Notes due 2031
Document Information
Title of 12(b) Security	3.360% Senior Notes due 2031
Trading Symbol	FIS31
Security Exchange Name	NYSE
2.950% Senior Notes due 2039
Document Information
Title of 12(b) Security	2.950% Senior Notes due 2039
Trading Symbol	FIS39
Security Exchange Name	NYSE

Debt

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Debt

Long-term debt as of March 31, 2021, and December 31, 2020, consists of the following (in millions):


	March 31, 2021
		Weighted
		Average
	Interest	Interest		March 31,		December 31,
	Rates	Rate	Maturities	2021		2020
Fixed Rate Notes
Senior USD Notes	0.4% - 4.8%	1.9%	2023 - 2048	$	6,909	$	4,938
Senior Euro Notes	0.1% - 3.0%	1.3%	2022 - 2039	7,916		8,891
Senior GBP Notes	1.7% - 3.4%	1.5%	2022 - 2031	1,686		2,526
Senior Euro Floating Rate Notes		0.0%	2021	523		613
Revolving Credit Facility (1)		—%	2026	—		251
Other				(132)		46
Total long-term debt, including current portion				16,902		17,265
Current portion of long-term debt				(602)		(1,314)
Long-term debt, excluding current portion				$	16,300	$	15,951

(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 March 31, 2021, and December 31, 2020, consist of the following (in millions):


	March 31, 2021
	Weighted
	Average
	Interest			March 31,		December 31,
	Rate		Maturities	2021		2020
Euro-commercial paper notes ("ECP Notes")	(0.5)	%	Up to 183 days	$	243	$	861
U.S. commercial paper notes ("USCP Notes")	0.3	%	Up to 397 days	2,129		1,745
Other				165		144
Total Short-term borrowings				$	2,537	$	2,750

As of March 31, 2021, the weighted average interest rate of the Company's outstanding debt was 1.0%, including the impact of interest rate swaps (see Note 6).

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 swaps discussed below and net unamortized non-cash bond premiums and discounts of $(141) million as of March 31, 2021 (in millions):


	Total
2021 remaining period	$	578
2022	1,623
2023	2,234
2024	1,343
2025	739
Thereafter	10,646
Total principal payments	17,163
Debt issuance costs, net of accumulated amortization	(120)
Total long-term debt	$	17,043

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 on March 2, 2026.

Senior Notes

In March 2021, pursuant to cash tender offers and make-whole redemptions, FIS purchased and redeemed an aggregate principal amount of $5.1 billion in Senior Notes, comprised of $3,529 million in Senior USD Notes, $600 million in Senior Euro Notes, $871 million in Senior GBP Notes, and $66 million in Senior Euro Floating Rate Notes, with interest rates ranging from 0.0% to 5.0% and maturities ranging from 2021 to 2029, resulting in a loss on extinguishment of debt of approximately $528 million, recorded in Other income (expense), net on the consolidated statement of earnings (loss), relating to tender premiums, make-whole amounts, and fees; the write-off of unamortized bond discounts and debt issuance costs; and losses on related derivative instruments. The Company funded the purchase and redemption of the Senior Notes with proceeds on borrowings from the issuance and sale of Senior USD Notes on March 2, 2021.

On March 2, 2021, FIS completed the issuance and sale of Senior USD Notes with an aggregate principal amount of $5.5 billion with interest rates ranging from 0.4% to 3.1% and maturities ranging from 2023 to 2041 ("new Senior USD Notes"). The proceeds from the debt issuance were subsequently used to purchase and redeem the Senior Notes discussed above with the remainder used to repay a portion of our commercial paper notes. The new Senior USD Notes are subject to customary covenants, including, among others, customary events of default. The new Senior USD Notes also include redemption provisions at the option of FIS, similar to the other Senior Notes.

Revolving Credit Facility

On March 2, 2021, FIS entered into an amendment to the Restated Credit Agreement to amend certain covenant provisions, revise lender commitments for certain counterparties, and extend the scheduled maturity date to March 2, 2026. As of March 31, 2021, the borrowing capacity under the Revolving Credit Facility was $3,126 million (net of $2,372 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 is estimated to be approximately $650 million and $1,640 million higher than the carrying value, excluding the fair value of the interest rate swaps and unamortized discounts, as of March 31, 2021, and December 31, 2020, respectively.

Condensed Consolidated Financial Statement Details - Summary of Net Assets (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Condensed Consolidated Financial Statement Details [Abstract]
Property and equipment, cost	$ 2,319	$ 2,292
Property and equipment, accumulated depreciation and amortization	1,456	1,405
Property and equipment, net	863	887
Intangible assets, cost	19,117	19,141
Intangible assets, accumulated depreciation and amortization	5,802	5,213
Intangible assets, net	13,315	13,928
Computer software, cost	5,838	5,535
Computer software, accumulated depreciation and amortization	2,456	2,165
Computer software, net	$ 3,382	$ 3,370

Stock Compensation Plans	3 Months Ended
Stock Compensation Plans	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock Compensation Plans	Stock Compensation PlansOn January 1, 2021, the Company established a Qualified Retirement Equity Program that modified our existing stock compensation plans. The modification implemented a new retirement policy that permits retirees that meet certain eligibility criteria to continue vesting in unvested equity awards in accordance with the terms of the respective grant agreements, resulting in accelerated stock compensation expense for those employees meeting the definition of retirement eligible. During the quarter ended March 31, 2021, the Company recorded $104 million in accelerated stock compensation expense included in Selling, general, and administrative expenses in the consolidated statement of earnings (loss) to reflect the impact of the modification on unvested equity awards outstanding at January 1, 2021.

Segment Information (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment information

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 March 31, 2021 (in millions):


					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Revenue	$	966	$	1,540	$	625	$	92	$	3,223
Operating expenses	(603)		(1,018)		(419)		(1,084)		(3,124)
Depreciation and amortization (including purchase accounting amortization)	88		145		82		638		953
Acquisition, integration and other costs	—		—		—		256		256
Adjusted EBITDA	$	451	$	667	$	288	$	(98)	$	1,308

Adjusted EBITDA									$	1,308
Depreciation and amortization									(279)
Purchase accounting amortization									(674)
Acquisition, integration and other costs									(256)
Interest expense, net									(74)
Other income (expense), net									(493)
(Provision) benefit for income taxes									97
Equity method investment earnings (loss)									1
Net earnings attributable to noncontrolling interest									(3)
Net earnings (loss) attributable to FIS common stockholders									$	(373)
Capital expenditures	$	104	$	106	$	54	$	34	$	298

For the three months ended March 31, 2020 (in millions):


					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Revenue	$	935	$	1,444	$	597	$	102	$	3,078
Operating expenses	(597)		(961)		(392)		(1,020)		(2,970)
Depreciation and amortization (including purchase accounting amortization)	85		129		62		638		914
Acquisition, integration and other costs	—		—		—		225		225
Adjusted EBITDA	$	423	$	612	$	267	$	(55)	$	1,247

Adjusted EBITDA									$	1,247
Depreciation and amortization									(230)
Purchase accounting amortization									(684)
Acquisition, integration and other costs									(225)
Interest expense, net									(80)
Other income (expense), net									(39)
(Provision) benefit for income taxes									30
Equity method investment earnings (loss)									(1)
Net earnings attributable to noncontrolling interest									(3)
Net earnings attributable to FIS common stockholders									$	15
Capital expenditures (1)	$	106	$	132	$	58	$	10	$	306

Segment Information

3 Months Ended

Mar. 31, 2021

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. The Company regularly assesses its portfolio of assets and reclassified certain non-strategic businesses from the Merchant Solutions, Banking Solutions, and Capital Market Solutions segments into the Corporate

and Other segment during the year ended December 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 card-based payments, contactless card and mobile wallet, originated at a physical point of sale, as well as 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, electronic payment transaction reporting 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 global enterprises, national retailers 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 with core processing software, transaction processing software and complementary applications and services, many of which interact directly with the core processing applications. We sell these solutions and services on either a bundled or stand-alone basis. 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 100 countries. 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 that we plan to wind down or sell. 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.

During the three months ended March 31, 2021 and 2020, 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 $15 million and $18 million, respectively, and incremental costs directly related to COVID-19 of $9 million and $3 million, respectively. For the three months ended March 31, 2021, we also recorded $104 million in accelerated stock compensation expense to reflect the impact of establishing a Qualified Retirement Equity Program that modified unvested equity awards outstanding at January 1, 2021 (see Note 8).

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), and depreciation and amortization, and excludes certain costs and other transactions that management deems non-operational in nature. The non-operational items affecting the segment profit measure generally include purchase accounting adjustments as well as acquisition, integration and certain other costs. Adjusted EBITDA also excludes incremental and direct costs resulting from the COVID-19 pandemic. 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.

For the three months ended March 31, 2021 (in millions):


					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Revenue	$	966	$	1,540	$	625	$	92	$	3,223
Operating expenses	(603)		(1,018)		(419)		(1,084)		(3,124)
Depreciation and amortization (including purchase accounting amortization)	88		145		82		638		953
Acquisition, integration and other costs	—		—		—		256		256
Adjusted EBITDA	$	451	$	667	$	288	$	(98)	$	1,308

Adjusted EBITDA									$	1,308
Depreciation and amortization									(279)
Purchase accounting amortization									(674)
Acquisition, integration and other costs									(256)
Interest expense, net									(74)
Other income (expense), net									(493)
(Provision) benefit for income taxes									97
Equity method investment earnings (loss)									1
Net earnings attributable to noncontrolling interest									(3)
Net earnings (loss) attributable to FIS common stockholders									$	(373)
Capital expenditures	$	104	$	106	$	54	$	34	$	298

For the three months ended March 31, 2020 (in millions):


					Capital
	Merchant		Banking		Market		Corporate
	Solutions		Solutions		Solutions		and Other		Total
Revenue	$	935	$	1,444	$	597	$	102	$	3,078
Operating expenses	(597)		(961)		(392)		(1,020)		(2,970)
Depreciation and amortization (including purchase accounting amortization)	85		129		62		638		914
Acquisition, integration and other costs	—		—		—		225		225
Adjusted EBITDA	$	423	$	612	$	267	$	(55)	$	1,247

Adjusted EBITDA									$	1,247
Depreciation and amortization									(230)
Purchase accounting amortization									(684)
Acquisition, integration and other costs									(225)
Interest expense, net									(80)
Other income (expense), net									(39)
(Provision) benefit for income taxes									30
Equity method investment earnings (loss)									(1)
Net earnings attributable to noncontrolling interest									(3)
Net earnings attributable to FIS common stockholders									$	15
Capital expenditures (1)	$	106	$	132	$	58	$	10	$	306

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Net Earnings (Loss) per Share (Tables)

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Earnings per share attributable to FIS common stockholders

The following table summarizes net earnings (loss) and net earnings (loss) per share attributable to FIS common stockholders for the three months ended March 31, 2021 and 2020 (in millions, except per share amounts):


	Three months ended March 31,
	2021		2020
Net earnings (loss) attributable to FIS common stockholders	$	(373)	$	15
Weighted average shares outstanding-basic	621		616
Plus: Common stock equivalent shares	—		9
Weighted average shares outstanding- diluted	621		625
Net earnings (loss) per share-basic attributable to FIS common stockholders	$	(0.60)	$	0.02
Net earnings (loss) per share-diluted attributable to FIS common stockholders	$	(0.60)	$	0.02

Condensed Consolidated Statements of Earnings (Loss) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenue	$ 3,223	$ 3,078
Cost of revenue	2,118	2,089
Gross profit	1,105	989
Selling, general, and administrative expenses	1,006	881
Operating income	99	108
Other income (expense):
Interest expense, net	(74)	(80)
Other income (expense), net	(493)	(39)
Total other income (expense), net	(567)	(119)
Earnings (loss) before income taxes and equity method investment earnings (loss)	(468)	(11)
Provision (benefit) for income taxes	(97)	(30)
Equity method investment earnings (loss)	1	(1)
Net earnings (loss)	(370)	18
Net (earnings) loss attributable to noncontrolling interest	(3)	(3)
Net earnings (loss) attributable to FIS common stockholders	$ (373)	$ 15
Net earnings (loss) per share — basic attributable to FIS common stockholders (in dollars per share)	$ (0.60)	$ 0.02
Weighted average shares outstanding — basic (in shares)	621	616
Net earnings (loss) per share — diluted attributable to FIS common stockholders (in dollars per share)	$ (0.60)	$ 0.02
Weighted average shares outstanding — diluted (in shares)	621	625

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends paid per share (in dollars per share)	$ 0.39	$ 0.35

Segment Information - (Summarized Financial Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Information
Revenue	$ 3,223	$ 3,078
Operating expenses	(3,124)	(2,970)
Depreciation and amortization (including purchase accounting amortization)	953	914
Acquisition, integration and other costs	(256)	(225)
Adjusted EBITDA	1,308	1,247
Interest expense, net	(74)	(80)
Other income (expense), net	(493)	(39)
(Provision) benefit for income taxes	97	30
Net earnings attributable to noncontrolling interest	(3)	(3)
Net earnings (loss) attributable to FIS common stockholders	(373)	15
Capital expenditures	298	306
Merchant solutions
Segment Information
Capital expenditures	104	106
Banking solutions
Segment Information
Capital expenditures	106	132
Capital market solutions
Segment Information
Capital expenditures	54	58
Corporate and other
Segment Information
Revenue	92	102
Operating expenses	(1,084)	(1,020)
Depreciation and amortization (including purchase accounting amortization)	638	638
Acquisition, integration and other costs	(256)	(225)
Adjusted EBITDA	(98)	(55)
Capital expenditures	34	10
Operating segments \| Merchant solutions
Segment Information
Revenue	966	935
Operating expenses	(603)	(597)
Depreciation and amortization (including purchase accounting amortization)	88	85
Acquisition, integration and other costs	0	0
Adjusted EBITDA	451	423
Operating segments \| Banking solutions
Segment Information
Revenue	1,540	1,444
Operating expenses	(1,018)	(961)
Depreciation and amortization (including purchase accounting amortization)	145	129
Acquisition, integration and other costs	0	0
Adjusted EBITDA	667	612
Operating segments \| Capital market solutions
Segment Information
Revenue	625	597
Operating expenses	(419)	(392)
Depreciation and amortization (including purchase accounting amortization)	82	62
Acquisition, integration and other costs	0	0
Adjusted EBITDA	288	267
Segment reconciling items
Segment Information
Acquisition, integration and other costs	(256)	(225)
Depreciation and amortization	(279)	(230)
Purchase accounting amortization	(674)	(684)
Interest expense, net	(74)	(80)
Other income (expense), net	(493)	(39)
(Provision) benefit for income taxes	$ 97	$ 30

Financial Instruments - (Narratives) (Details)	3 Months Ended
Financial Instruments - (Narratives) (Details)	Mar. 31, 2021 USD ($)	Mar. 31, 2020 USD ($)	Mar. 31, 2021 GBP (£)	Mar. 31, 2021 EUR (€)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 GBP (£)	Dec. 31, 2020 EUR (€)
Net investment hedges \| Senior Euro Notes Maturing Two Thousand Twenty Two To Two Thousand Thirty Nine and ECP Notes \| Senior notes
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives
Notional amount \| €				€ 6,968,000,000			€ 7,466,000,000
Net investment hedges \| Senior EURO Floating Rate Notes And Senior Euro Notes Maturing Two Thousand Twenty One \| Senior notes
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives
Notional amount \| €							1,000,000,000
Net investment hedges \| Sterling senior notes due 2022 to 2031 \| Senior notes
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives
Notional amount \| £			£ 1,203,000,000			£ 1,850,000,000
Interest rate swap \| Fair value hedging
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives
Notional amount	$ 1,604,000,000		925,000,000	500,000,000	$ 1,000,000,000		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	96,000,000				10,000,000
Interest rate swap \| Net investment hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives
Derivative asset fair value, gross liability	(206,000,000)				$ (306,000,000)
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	$ 321,000,000	$ 535,000,000
Currency swap \| Net investment hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives
Notional amount			£ 2,045,000,000	€ 5,906,000,000		£ 565,000,000	€ 4,508,000,000

Deferred Contract Costs

3 Months Ended

Mar. 31, 2021

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

Deferred Contract Costs

Origination and fulfillment costs from contracts with customers capitalized as of March 31, 2021, and December 31, 2020, consist of the following (in millions):


	March 31, 2021		December 31, 2020
Contract costs on implementations in progress	$	186	$	245
Contract origination costs on completed implementations, net	540		470
Contract fulfillment costs on completed implementations, net	233		202
Total Deferred contract costs, net	$	959	$	917

Amortization of deferred contract costs on completed implementations was $68 million and $51 million during the three months ended March 31, 2021 and 2020, respectively, and there were no significant impairment losses in relation to the costs capitalized for the periods presented.

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net earnings (loss)	$ (370)	$ 18
Adjustment to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization	953	914
Amortization of debt issue costs	7	8
Loss (gain) on sale of businesses, investments and other	(1)	2
Loss on extinguishment of debt	528	0
Stock-based compensation	157	56
Deferred income taxes	(22)	(108)
Net changes in assets and liabilities, net of effects from acquisitions and foreign currency:
Trade and other receivables	(219)	96
Settlement activity	122	(368)
Prepaid expenses and other assets	(129)	40
Deferred contract costs	(113)	(150)
Deferred revenue	89	86
Accounts payable, accrued liabilities and other liabilities	(166)	(211)
Net cash provided by operating activities	836	383
Cash flows from investing activities:
Additions to property and equipment	(69)	(55)
Additions to software	(229)	(251)
Acquisitions, net of cash acquired	0	(402)
Other investing activities, net	(23)	92
Net cash provided by (used in) investing activities	(321)	(616)
Cash flows from financing activities:
Borrowings	13,858	10,958
Repayment of borrowings and other financing obligations	(14,364)	(10,391)
Debt issuance costs	(74)	0
Proceeds from stock issued under stock-based compensation plans	73	176
Treasury stock activity	(494)	(46)
Dividends paid	(244)	(216)
Other financing activities, net	(136)	(4)
Net cash provided by (used in) financing activities	(1,381)	477
Effect of foreign currency exchange rate changes on cash	(40)	(15)
Net increase (decrease) in cash and cash equivalents	(906)	229
Cash and cash equivalents, beginning of period	4,030	3,211
Cash and cash equivalents, end of period	3,124	3,440
Supplemental cash flow information:
Cash paid for interest	95	33
Cash paid for income taxes	$ 68	$ 65

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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, sought 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 was 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. 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 during the quarter ended September 30, 2020. On March 8, 2021, the Court entered an order approving the settlement and entered a final judgment dismissing the action with prejudice. Reliance paid the full settlement amount in April 2021 and has met its monetary obligations under the settlement agreement. 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 $30 million, making the total potential exposure for all 38 claims approximately $41 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. Tax Receivable Agreement 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. 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 sheets as of March 31, 2021, and December 31, 2020, include a total liability of $448 million and $532 million, respectively, relating to the TRA. 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 March 31, 2021; 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.

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2021
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, 2020. 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 2020 consolidated financial statements to conform to the classifications used in 2021. Amounts in tables in the financial statements and accompanying footnotes may not sum due to rounding. FIS reports its financial performance based on the following segments: Merchant Solutions, Banking Solutions, Capital Market Solutions, and Corporate and Other. The Company regularly assesses its portfolio of assets and reclassified certain non-strategic businesses from the Merchant Solutions, Banking Solutions, and Capital Market Solutions segments into the Corporate and Other segment during the year ended December 31, 2020, and recast all prior-period segment information presented.

Debt - (Principal Maturities of Long-Term Debt) (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Principal maturities of long-term debt
Total long-term debt	$ 16,902	$ 17,265
FIS credit agreements
Principal maturities of long-term debt
2021 remaining period	578
2022	1,623
2023	2,234
2024	1,343
2025	739
Thereafter	10,646
Total principal payments	17,163
Debt issuance costs, net of accumulated amortization	(120)
Total long-term debt	$ 17,043

Condensed Consolidated Statements of Equity - USD ($)
shares in Millions, $ in Millions

Total

Common stock

Treasury stock

Additional paid in capital

Retained earnings

Accumulated other comprehensive earnings (loss)

Noncontrolling interest

^[1]

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

615

Beginning balance at Dec. 31, 2019

$ 49,456

$ 6

$ (52)

$ 45,358

$ 4,161

$ (33)

$ 16

Increase (Decrease) in Stockholders' Equity

Issuance of restricted stock (in shares)

Issuance of restricted stock

$ 7

(7)

Exercise of stock options (in shares)

Exercise of stock options

140

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

(1)

Treasury shares held for taxes due upon exercise of stock options

(46)

$ (46)

Stock-based compensation

Cash dividends declared and other distributions

(220)

(218)

(2)

Other

(5)

(6)

Net earnings (loss)

Other comprehensive earnings (loss), net of tax

(215)

Ending balance (in shares) at Mar. 31, 2020

617

Ending balance at Mar. 31, 2020

49,182

$ 6

$ (91)

45,548

3,952

(248)

Beginning balance (in shares) at Dec. 31, 2020

621

Beginning balance at Dec. 31, 2020

49,313

$ 6

$ (150)

45,947

3,440

Increase (Decrease) in Stockholders' Equity

Issuance of restricted stock (in shares)

Issuance of restricted stock

Exercise of stock options (in shares)

Exercise of stock options

Purchase of treasury stock (in shares)

(3)

Purchases of treasury stock

(400)

$ (400)

Treasury shares held for taxes due upon exercise of stock options

(95)

$ (95)

Stock-based compensation

157

Cash dividends declared and other distributions

(245)

(244)

(1)

Net earnings (loss)

(371)

(373)

Other comprehensive earnings (loss), net of tax

Ending balance (in shares) at Mar. 31, 2021

624

Ending balance at Mar. 31, 2021

$ 48,474

$ 6

$ (645)

$ 46,152

$ 2,823

$ 124

$ 14

[1]	Excludes redeemable noncontrolling interest that is not considered equity.

Revenue - (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
Revenue - (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2021	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue from contract liability	$ 327	$ 338
Remaining revenue recognition	$ 21,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Remaining performance obligation, percentage	32.00%
Performance obligations expected to be satisfied, expected timing	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Remaining performance obligation, percentage	22.00%
Performance obligations expected to be satisfied, expected timing	24 months

Debt (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Long-term debt

Long-term debt as of March 31, 2021, and December 31, 2020, consists of the following (in millions):


	March 31, 2021
		Weighted
		Average
	Interest	Interest		March 31,		December 31,
	Rates	Rate	Maturities	2021		2020
Fixed Rate Notes
Senior USD Notes	0.4% - 4.8%	1.9%	2023 - 2048	$	6,909	$	4,938
Senior Euro Notes	0.1% - 3.0%	1.3%	2022 - 2039	7,916		8,891
Senior GBP Notes	1.7% - 3.4%	1.5%	2022 - 2031	1,686		2,526
Senior Euro Floating Rate Notes		0.0%	2021	523		613
Revolving Credit Facility (1)		—%	2026	—		251
Other				(132)		46
Total long-term debt, including current portion				16,902		17,265
Current portion of long-term debt				(602)		(1,314)
Long-term debt, excluding current portion				$	16,300	$	15,951

Short-term debt

Short-term borrowings as of March 31, 2021, and December 31, 2020, consist of the following (in millions):


	March 31, 2021
	Weighted
	Average
	Interest			March 31,		December 31,
	Rate		Maturities	2021		2020
Euro-commercial paper notes ("ECP Notes")	(0.5)	%	Up to 183 days	$	243	$	861
U.S. commercial paper notes ("USCP Notes")	0.3	%	Up to 397 days	2,129		1,745
Other				165		144
Total Short-term borrowings				$	2,537	$	2,750

Principal maturities of long-term debt


	Total
2021 remaining period	$	578
2022	1,623
2023	2,234
2024	1,343
2025	739
Thereafter	10,646
Total principal payments	17,163
Debt issuance costs, net of accumulated amortization	(120)
Total long-term debt	$	17,043

- Definition

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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+ Details

Related-Party Transactions - (Narrative) (Details) - Cardinal holdings - USD ($) $ in Millions	Apr. 29, 2021	Mar. 31, 2021	Dec. 31, 2020
Related Party Transaction
Ownership percentage			36.00%
Equity method investment		$ 140	$ 137
Subsequent Event
Related Party Transaction
Proceeds from Sale of Equity Method Investments	$ 367

Net Earnings (Loss) per Share - (Summary of Earnings per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Net earnings (loss) attributable to FIS common stockholders	$ (373)	$ 15
Weighted average shares outstanding — basic (in shares)	621	616
Plus: Common stock equivalent shares (in shares)	0	9
Weighted average shares outstanding — diluted (in shares)	621	625
Net earnings (loss) per share — basic attributable to FIS common stockholders (in dollars per share)	$ (0.60)	$ 0.02
Net earnings (loss) per share — diluted attributable to FIS common stockholders (in dollars per share)	$ (0.60)	$ 0.02

- Definition

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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+ Details

Net Earnings (Loss) per Share

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Net Earnings (Loss) per Share

The basic weighted average shares and common stock equivalents for the three months ended March 31, 2021 and 2020, were computed using the treasury stock method.


	Three months ended March 31,
	2021		2020
Net earnings (loss) attributable to FIS common stockholders	$	(373)	$	15
Weighted average shares outstanding-basic	621		616
Plus: Common stock equivalent shares	—		9
Weighted average shares outstanding- diluted	621		625
Net earnings (loss) per share-basic attributable to FIS common stockholders	$	(0.60)	$	0.02
Net earnings (loss) per share-diluted attributable to FIS common stockholders	$	(0.60)	$	0.02

The diluted net loss per share for the three months ended March 31, 2021, did not include the effect of common stock equivalent shares of 5 million because the effect would have been anti-dilutive. The diluted net earnings per share for the three months ended March 31, 2021 and 2020, did not include options to purchase less than 1 million shares of our common stock because they were anti-dilutive.

In January 2021, our Board of Directors approved a new share repurchase program under which it authorized the Company to repurchase up to 100 million shares of our common stock at management's discretion from time to time on the open market or in privately negotiated transactions and through Rule 10b5-1 plans. The new repurchase program has no expiration date and may be suspended for periods, amended or discontinued at any time. Under the new share repurchase program approximately 97 million shares remain available for repurchase as of March 31, 2021.

Condensed Consolidated Financial Statement Details - Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021 USD ($)
Goodwill
Beginning balance	$ 53,268
Foreign currency adjustments	(199)
Ending balance	53,069
Corporate and other
Goodwill
Beginning balance	20
Foreign currency adjustments	0
Ending balance	20
Operating segments \| Merchant solutions
Goodwill
Beginning balance	36,267
Foreign currency adjustments	(164)
Ending balance	36,103
Operating segments \| Banking solutions
Goodwill
Beginning balance	12,279
Foreign currency adjustments	(19)
Ending balance	12,260
Operating segments \| Capital market solutions
Goodwill
Beginning balance	4,702
Foreign currency adjustments	(16)
Ending balance	$ 4,686

Deferred Contract Costs - (Narratives) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Amortization of contract costs	$ 68,000,000	$ 51,000,000
Deferred contract costs impairment	$ 0	$ 0