Goodwill and Intangible Asset Disclosure
Adjustments to Financial Statements: Removal of Goodwill
Adjusted Financial Ratios: Removal of Goodwill (Summary)
Adjusted Total Asset Turnover
Adjusted Financial Leverage
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

Fiserv Inc., balance sheet: goodwill and intangible assets

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Customer relationships	15,103)	15,271)	16,187)	2,642)	2,293)
Acquired software and technology	2,522)	2,562)	2,607)	591)	579)
Trade names	612)	618)	620)	120)	117)
Purchased software	1,133)	913)	680)	261)	241)
Capitalized software and other intangibles	1,879)	1,332)	942)	810)	737)
Identifiable intangible assets, gross carrying amount	21,249)	20,696)	21,036)	4,424)	3,967)
Accumulated amortization	(7,240)	(5,338)	(3,394)	(2,281)	(2,085)
Identifiable intangible assets, net book value	14,009)	15,358)	17,642)	2,143)	1,882)
Goodwill	36,433)	36,322)	36,038)	5,702)	5,590)
Intangible assets and goodwill	50,442)	51,680)	53,680)	7,845)	7,472)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Download chart

Item	Description	The company
Identifiable intangible assets, net book value	Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.	Fiserv Inc. identifiable intangible assets, net book value decreased from 2019 to 2020 and from 2020 to 2021.
Goodwill	Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.	Fiserv Inc. goodwill increased from 2019 to 2020 and from 2020 to 2021.
Intangible assets and goodwill	Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.	Fiserv Inc. intangible assets and goodwill decreased from 2019 to 2020 and from 2020 to 2021.

Fiserv Inc., adjustments to financial statements

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Adjustment to Total Assets
Total assets (as reported)	76,249)	74,619)	77,539)	11,262)	10,289)
Less: Goodwill	36,433)	36,322)	36,038)	5,702)	5,590)
Total assets (adjusted)	39,816)	38,297)	41,501)	5,560)	4,699)
Adjustment to Total Fiserv, Inc. Shareholders’ Equity
Total Fiserv, Inc. shareholders’ equity (as reported)	30,952)	32,330)	32,979)	2,293)	2,731)
Less: Goodwill	36,433)	36,322)	36,038)	5,702)	5,590)
Total Fiserv, Inc. shareholders’ equity (adjusted)	(5,481)	(3,992)	(3,059)	(3,409)	(2,859)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Fiserv Inc., Financial Data: Reported vs. Adjusted

Download chart

Fiserv Inc., adjusted financial ratios

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Total Asset Turnover
Reported total asset turnover	0.21	0.20	0.13	0.52	0.55
Adjusted total asset turnover	0.41	0.39	0.25	1.05	1.21
Financial Leverage
Reported financial leverage	2.46	2.31	2.35	4.91	3.77
Adjusted financial leverage	—	—	—	—	—
Return on Equity (ROE)
Reported ROE	4.31%	2.96%	2.71%	51.77%	45.62%
Adjusted ROE	—	—	—	—	—
Return on Assets (ROA)
Reported ROA	1.75%	1.28%	1.15%	10.54%	12.11%
Adjusted ROA	3.35%	2.50%	2.15%	21.35%	26.52%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Financial ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Fiserv Inc. adjusted total asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021.
Adjusted ROA	A profitability ratio calculated as net income divided by adjusted total assets.	Fiserv Inc. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021.

Fiserv Inc., Financial Ratios: Reported vs. Adjusted

Download chart

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Selected Financial Data (US$ in millions)
Revenue	16,226)	14,852)	10,187)	5,823)	5,696)
Total assets	76,249)	74,619)	77,539)	11,262)	10,289)
Activity Ratio
Total asset turnover¹	0.21	0.20	0.13	0.52	0.55
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Revenue	16,226)	14,852)	10,187)	5,823)	5,696)
Adjusted total assets	39,816)	38,297)	41,501)	5,560)	4,699)
Activity Ratio
Adjusted total asset turnover²	0.41	0.39	0.25	1.05	1.21

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

¹ Total asset turnover = Revenue ÷ Total assets
= 16,226 ÷ 76,249 = 0.21

² Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= 16,226 ÷ 39,816 = 0.41

Download chart

Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Fiserv Inc. adjusted total asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021.

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Selected Financial Data (US$ in millions)
Total assets	76,249)	74,619)	77,539)	11,262)	10,289)
Total Fiserv, Inc. shareholders’ equity	30,952)	32,330)	32,979)	2,293)	2,731)
Solvency Ratio
Financial leverage¹	2.46	2.31	2.35	4.91	3.77
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted total assets	39,816)	38,297)	41,501)	5,560)	4,699)
Adjusted total Fiserv, Inc. shareholders’ equity	(5,481)	(3,992)	(3,059)	(3,409)	(2,859)
Solvency Ratio
Adjusted financial leverage²	—	—	—	—	—

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

¹ Financial leverage = Total assets ÷ Total Fiserv, Inc. shareholders’ equity
= 76,249 ÷ 30,952 = 2.46

² Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Fiserv, Inc. shareholders’ equity
= 39,816 ÷ -5,481 = —

Download chart

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Fiserv, Inc.	1,334)	958)	893)	1,187)	1,246)
Total Fiserv, Inc. shareholders’ equity	30,952)	32,330)	32,979)	2,293)	2,731)
Profitability Ratio
ROE¹	4.31%	2.96%	2.71%	51.77%	45.62%
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Net income attributable to Fiserv, Inc.	1,334)	958)	893)	1,187)	1,246)
Adjusted total Fiserv, Inc. shareholders’ equity	(5,481)	(3,992)	(3,059)	(3,409)	(2,859)
Profitability Ratio
Adjusted ROE²	—	—	—	—	—

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

¹ ROE = 100 × Net income attributable to Fiserv, Inc. ÷ Total Fiserv, Inc. shareholders’ equity
= 100 × 1,334 ÷ 30,952 = 4.31%

² Adjusted ROE = 100 × Net income attributable to Fiserv, Inc. ÷ Adjusted total Fiserv, Inc. shareholders’ equity
= 100 × 1,334 ÷ -5,481 = —

Download chart

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Fiserv, Inc.	1,334)	958)	893)	1,187)	1,246)
Total assets	76,249)	74,619)	77,539)	11,262)	10,289)
Profitability Ratio
ROA¹	1.75%	1.28%	1.15%	10.54%	12.11%
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Net income attributable to Fiserv, Inc.	1,334)	958)	893)	1,187)	1,246)
Adjusted total assets	39,816)	38,297)	41,501)	5,560)	4,699)
Profitability Ratio
Adjusted ROA²	3.35%	2.50%	2.15%	21.35%	26.52%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

¹ ROA = 100 × Net income attributable to Fiserv, Inc. ÷ Total assets
= 100 × 1,334 ÷ 76,249 = 1.75%

² Adjusted ROA = 100 × Net income attributable to Fiserv, Inc. ÷ Adjusted total assets
= 100 × 1,334 ÷ 39,816 = 3.35%

Download chart

Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as net income divided by adjusted total assets.	Fiserv Inc. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021.

Fiserv Inc. (NASDAQ:FISV)

Analysis of Goodwill and Intangible Assets

Goodwill and Intangible Asset Disclosure

Adjustments to Financial Statements: Removal of Goodwill

Fiserv Inc., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Goodwill (Summary)

Fiserv Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Adjusted Financial Leverage

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)