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Fiserv Inc. (NASDAQ:FISV)

This company has been moved to the archive! The financial data has not been updated since April 28, 2022.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

Fiserv Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Trade accounts payable 0.78 0.59 0.51 1.13 0.78
Client deposits 1.03 0.94 0.84 5.01 4.67
Accrued compensation and benefits 0.51 0.56 0.49 1.77 1.92
Accrued taxes 0.20 0.17 0.18 0.16 0.00
Accrued interest 0.28 0.29 0.29 0.31 0.00
Other accrued expenses 1.85 1.71 1.68 1.80 2.38
Accounts payable and accrued expenses 4.66% 4.27% 3.97% 10.18% 9.76%
Short-term and current maturities of long-term debt 0.67 0.51 0.37 0.04 0.03
Contract liabilities 0.77 0.73 0.63 3.37 5.36
Settlement obligations 17.90 15.44 15.31 4.26 3.68
Current liabilities 23.99% 20.96% 20.28% 17.85% 18.84%
Long-term debt, excluding current maturities 27.19 27.20 27.87 52.88 47.59
Deferred income taxes 5.47 5.88 5.48 6.62 5.36
Long-term contract liabilities 0.30 0.25 0.20 0.79 0.52
Other long-term liabilities 1.15 1.04 1.21 1.51 1.14
Long-term liabilities 34.10% 34.38% 34.76% 61.79% 54.62%
Total liabilities 58.10% 55.33% 55.05% 79.64% 73.46%
Redeemable noncontrolling interests 0.36 0.35 0.34 0.00 0.00
Preferred stock, no par value; none issued 0.00 0.00 0.00 0.00 0.00
Common stock, $0.01 par value 0.01 0.01 0.01 0.07 0.04
Additional paid-in capital 30.14 31.68 30.62 9.39 10.06
Accumulated other comprehensive loss -0.98 -0.52 -0.23 -0.59 -0.52
Retained earnings 19.47 18.01 16.16 103.31 99.52
Treasury stock, at cost -8.05 -5.86 -4.02 -91.81 -82.55
Total Fiserv, Inc. shareholders’ equity 40.59% 43.33% 42.53% 20.36% 26.54%
Noncontrolling interests 0.94 0.99 2.08 0.00 0.00
Total equity 41.54% 44.32% 44.62% 20.36% 26.54%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%

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).

The capital structure exhibits a significant transformation between 2018 and 2019, characterized by a substantial shift from debt-heavy financing to a more equity-oriented balance sheet. Total liabilities peaked at 79.64% of total liabilities and equity in 2018 before dropping sharply to 55.05% in 2019, remaining relatively stable through 2021. Conversely, total equity increased from a low of 20.36% in 2018 to 44.62% in 2019, indicating a fundamental recapitalization of the organization.

Liability Composition and Trends
Current liabilities have shown a steady upward trajectory from 17.85% in 2018 to 23.99% by 2021. This growth is primarily driven by a marked increase in settlement obligations, which rose from 3.68% in 2017 to 17.90% in 2021. Simultaneously, client deposits saw a significant decline, falling from 5.01% in 2018 to 1.03% in 2021, suggesting a change in the nature of short-term funding or operational obligations.
Long-Term Debt Analysis
Long-term debt, excluding current maturities, underwent a dramatic reduction in 2019. After reaching 52.88% of the total balance sheet in 2018, this figure fell to 27.87% in 2019 and remained nearly constant at approximately 27.2% through 2021. This represents a substantial deleveraging of the long-term capital structure.
Equity Component Volatility
The equity section reflects extreme volatility and a structural overhaul. Retained earnings plummeted from 103.31% in 2018 to 16.16% in 2019, while additional paid-in capital surged from 9.39% to 30.62% in the same period. Furthermore, the contra-equity account for treasury stock shifted from -91.81% in 2018 to -4.02% in 2019. These concurrent movements suggest a major corporate action, such as a restructuring of shares or a significant capital injection, that normalized the equity ratios.
Overall Financial Position
By the end of the period in 2021, the balance sheet reached a state of relative stability compared to the volatility of 2018-2019. Total liabilities stood at 58.10% and total equity at 41.54%. The most notable persistent trend is the increasing weight of settlement obligations within the current liability framework, which now constitutes a significant portion of the total financing mix.

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