Analysis of Debt
Total Debt (Carrying Amount)
Fidelity National Information Services Inc., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 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).
Total debt experienced a significant escalation between 2018 and 2019, increasing from US$ 8,985 million to US$ 20,192 million. Following this initial surge, the total debt carrying amount remained relatively stable, fluctuating within a narrow range between US$ 20,015 million and US$ 20,353 million from 2020 through 2022.
- Long-term Debt Dynamics
- A substantial increase in long-term debt, excluding the current portion, occurred in 2019, reaching US$ 17,229 million. However, from 2020 to 2022, a consistent downward trend is observed, with the balance declining each year to end at US$ 14,207 million.
- Short-term Borrowings and Current Maturities
- Short-term borrowings rose sharply in 2019 and peaked in 2021 at US$ 3,911 million. Concurrently, the current portion of long-term debt exhibited a continuous and accelerating upward trajectory, growing from US$ 48 million in 2018 to US$ 2,133 million in 2022.
- Debt Composition and Liquidity Profile
- The data indicates a structural shift in the debt profile. While total debt remained plateaued after 2019, there was a marked migration of obligations from long-term to short-term categories. The steady increase in the current portion of long-term debt suggests a growing requirement for near-term refinancing or cash outflows to meet maturing obligations.
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Total Debt (Fair Value)
| Dec 31, 2022 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Short-term borrowings | 3,797) |
| Long-term debt, including current portion | 14,467) |
| Total debt (fair value) | 18,264) |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | 0.91 |
Based on: 10-K (reporting date: 2022-12-31).
Weighted-average Interest Rate on Debt
Weighted average interest rate of outstanding debt, including impact of interest rate swaps and cross-currency interest rate swaps: 2.60%
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| 2.60% | 20,137) | 524) | |
| Total | 20,137) | 524) | |
| 2.60% | |||
Based on: 10-K (reporting date: 2022-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × 524 ÷ 20,137 = 2.60%