Fidelity National Information Services, Inc.

Company facts

Industry

Services-Business Services, NEC

Headquarters

Jacksonville, Florida

Most recent report

10-Q, filed Aug 4, 2026

Filings on record

1,000+ filings

On EDGAR

CIK 1136893

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 17 of 38 sections worth reading, with 2 positive, 38 notable, and 9 negative flags.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Material transactions: acquisition, sale, $2.2B gain, $7.7B debt-financed.
  Notable

  • Worldpay enterprise valuation of $24.25 billion used in sale.
  • Issuer Solutions enterprise valuation of $13.5 billion used in acquisition.
  • Preliminary $2.2B pre-tax gain on Worldpay minority sale, Q1 2026.
  Negative

  • $7.7B new debt to fund Issuer Solutions acquisition.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Sale of Worldpay stake and $2.2B gain; segment reclassification; material company-specific events.
  Notable

  • Segment reassessment: Issuer Solutions moved into Banking Solutions; businesses reclassified among segments.
  • Distributions from Worldpay were $0M in Q2 2026 vs $22M in Q2 2025; $32M in H1 2026 vs $66M in H1 2025.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Large deferred tax charge and Worldpay losses materially affect Q2 results.
  Notable

  • FIS recorded $539M deferred tax expense in Q2 2025 from Worldpay sale decision.
  • FIS collected net cash of $82 million from Worldpay in Q2 2025 under related-party agreements.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Major acquisition of Issuer Solutions for $13.5B; $466M measurement adjustment.
  Notable

  • Funded cash portion with $7.7B term loan, later refinanced with new senior notes.
  • Acquired business placed in Banking Solutions segment; goodwill allocated there.
  • Recognized $466M measurement-period adjustment in Q2 2026 for deferred taxes and intangibles.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Detailed acquisition facts: $13.5B price, $7B goodwill, $666M quarterly revenue from Issuer Solutions.
  Notable

  • Goodwill from the acquisition is $6,997M, and $5.5B is tax-deductible.
  • Intangible assets total $3,615M: customer relationships ($3,580M, 10-yr life) and software ($2,020M, 7-yr life).
  • Issuer Solutions contributed $666M revenue and $37M pre-tax income in Q2 2026; $1,258M and $72M from Jan 9 through June 30, 2026.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Specific acquisition terms with large contingent payouts and indemnification exposure.
  Notable

  • Aggregate consideration of $505M for two 2026 acquisitions includes cash, stock, and contingent consideration.
  • Provisional goodwill of $366M and intangible assets of $185M recorded for 2026 acquisitions.
  Negative

  • Potential earnout payments up to $834M on 2026 acquisitions, a large future cash outflow.
  • Indemnification exposure of $170M on one acquisition; no liability recorded, but company remains obligated.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Revenue breakdown and acquisition details for Q2 2026, with one provisional allocation adding uncertainty.
  Notable

  • Recorded $326 million of goodwill from recent acquisitions, along with $163 million in customer relationships and $85 million in software.
  Negative

  • Purchase price allocation for one acquisition remains provisional as of June 30, 2026, subject to adjustment.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Contains large $25.0B backlog and deferred revenue growth, key forward metrics.
  Notable

  • No single foreign country accounted for over 10% of total revenue, diversifying geographic risk.
  • Deferred revenue recognized increased $58M year-over-year to $585M in H1 2026, indicating contract growth.
  • Large backlog of $25.0B provides strong forward revenue visibility; 34% to be recognized in 12 months.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Contains specific goodwill additions, impairments, and sensitivity warnings.
  Notable

  • Software amortization jumped to $312M (Q2) and $606M (H1) from $173M and $341M a year ago.
  Negative

  • Software impairments of $72 million in H1 2026 from product rationalization and strategic realignment.
  • Certain reporting units' fair values more sensitive to adverse changes; impairment risk rising if share price falls further.
  • $16 million goodwill impairment in H1 2026 for non-strategic businesses in Corporate and Other.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Major $6.3B note issuance, $1.25B repayment, rate shift, and maturity profile.
  Notable

  • Weighted average interest rate dropped to 3.8% when including net investment hedge swaps, from 4.2% excluding them.
  • Issued $6.3B senior notes in March 2026 to refinance acquisition-related short-term debt and commercial paper.
  • Repaid $1.25B of 1.15% Senior USD Notes at maturity on March 1, 2026.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Debt facilities, $8B acquisition financing, new hedges; material to liquidity and risk.
  Notable

  • Commercial paper programs allow up to $7.0B outstanding, backstopped by revolvers.
  • Revolving credit facility increased from $4.5B to $6.0B and added $1B incremental facility; net borrowing capacity $2.6B at June 30, 2026.
  • Fair value of long-term debt $716M below carrying value at June 30, 2026, indicating discount.
  • Entered $500M notional interest rate swaps in Q1 2026 as cash flow hedges; recorded $4M and $7M in OCI.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Hedging details: $1.854B notional swaps, $173M unamortized adj., de-designation and new swaps.
  Notable

  • Unamortized fair value adj. on debt $173M at June 30, 2026, decreasing from $192M at Dec 31, 2025.
  • Variable-to-fixed interest rate swaps with aggregate notional $1.854B and £925M at both period ends.
  • Coupon payments on economic hedges were $64M cash outflow each six months ended June 30, 2026 and 2025.
  • Aggregate fair value of derivative assets $15M and liabilities $(454)M at June 30, 2026.
  • Cross-currency swaps with notional ~€3,375M and £170M hedge foreign currency risk on debt.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Hedge gain swing and litigation settlement disclosed; no critical operational or risk items.
  Notable

  • Newly designated €1,000M of Senior Euro Notes as net investment hedges, up from zero.
  • Cross-currency swap notional increased to €6,295M from €6,045M; fair values improved.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Litigation details on Merchant Solutions derivative suits are company-specific.
  Notable

  • Several derivative actions (from 2023-2025) allege securities law violations and fiduciary breaches over the Merchant Solutions segment; the Board committee recommended dismissal.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Earnings swing to profit; repurchase details; segment restructuring.
  Notable

  • Repurchased 1.0M shares for $42M in Q2 2026 and 1.4M for $72M YTD; $1.7B remains.
  • Reassessed segments, added Issuer Solutions Business to Banking Solutions, reclassified others.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

  Contains specific transformation & severance costs with forward guidance.
  Negative

  • Severance costs were $135M in H1 2026, with additional costs expected in H2 2026.

• Item 2

  Major acquisition, $2.2B gain, debt surge to $21.2B, and organic growth rates all need attention.
  Positive

  • Banking segment revenue up 44% in Q2 2026; organic growth was 6% excluding acquisition.
  • Operating cash flow rose to $1.207B in H1 2026 from $839M in H1 2025, up 44%.
  Notable

  • Buybacks temporarily curtailed after acquisition; only $42M repurchased in Q2 2026.
  Negative

  • Asset impairments of $104M in H1 2026 from software rationalization after strategic realignment.

What changed: Jun 2026 vs. Mar 2026

About 10% of FIS's Jun 2026 10-Q is new information. 39 paragraphs were added, 145 changed, and 32 removed. Below are the most important lines SECSift identified.

• NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 86
• Item 2 43
• Item 6 6
• Condensed Consolidated Statements of Equity 5
• Item 3 3
• Item 4 2
• Condensed Consolidated Statements of Cash Flows - (Unaudited) (In millions) 1