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

Fidelity National Information Services Inc., balance sheet: goodwill and intangible assets

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Goodwill	34,276)	53,330)	53,268)	52,242)	13,545)
Customer relationships	17,635)	18,410)	18,586)	18,018)	6,011)
Trademarks and other	625)	509)	555)	546)	111)
Intangible assets, cost	18,260)	18,919)	19,141)	18,564)	6,122)
Accumulated amortization	(9,304)	(7,380)	(5,213)	(2,766)	(2,990)
Intangible assets, net	8,956)	11,539)	13,928)	15,798)	3,132)
Software from acquisitions	2,124)	2,181)	2,077)	1,959)	1,116)
Capitalized software development costs	3,766)	3,286)	2,826)	2,258)	1,624)
Purchased software	717)	728)	632)	603)	363)
Software, cost	6,607)	6,195)	5,535)	4,820)	3,103)
Accumulated amortization	(3,369)	(2,896)	(2,165)	(1,616)	(1,308)
Software, net	3,238)	3,299)	3,370)	3,204)	1,795)
Goodwill, intangible assets, and software	46,470)	68,168)	70,566)	71,244)	18,472)

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).

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Item	Description	The company
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.	Fidelity National Information Services Inc. goodwill increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Intangible assets, net	Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.	Fidelity National Information Services Inc. intangible assets, net decreased from 2020 to 2021 and from 2021 to 2022.
Goodwill, intangible assets, and software	Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.	Fidelity National Information Services Inc. goodwill, intangible assets, and software decreased from 2020 to 2021 and from 2021 to 2022.

Fidelity National Information Services Inc., adjustments to financial statements

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Adjustment to Total Assets
Total assets (as reported)	63,278)	82,931)	83,842)	83,806)	23,770)
Less: Goodwill	34,276)	53,330)	53,268)	52,242)	13,545)
Total assets (adjusted)	29,002)	29,601)	30,574)	31,564)	10,225)
Adjustment to Total FIS Stockholders’ Equity
Total FIS stockholders’ equity (as reported)	27,218)	47,347)	49,300)	49,440)	10,215)
Less: Goodwill	34,276)	53,330)	53,268)	52,242)	13,545)
Total FIS stockholders’ equity (adjusted)	(7,058)	(5,983)	(3,968)	(2,802)	(3,330)
Adjustment to Net Earnings (loss) Attributable To FIS Common Stockholders
Net earnings (loss) attributable to FIS common stockholders (as reported)	(16,720)	417)	158)	298)	846)
Add: Goodwill impairment charge	17,588)	—)	—)	—)	—)
Net earnings (loss) attributable to FIS common stockholders (adjusted)	868)	417)	158)	298)	846)

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).

Fidelity National Information Services Inc., Financial Data: Reported vs. Adjusted

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Fidelity National Information Services Inc., adjusted financial ratios

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net Profit Margin
Reported net profit margin	-115.09%	3.00%	1.26%	2.88%	10.04%
Adjusted net profit margin	5.97%	3.00%	1.26%	2.88%	10.04%
Total Asset Turnover
Reported total asset turnover	0.23	0.17	0.15	0.12	0.35
Adjusted total asset turnover	0.50	0.47	0.41	0.33	0.82
Financial Leverage
Reported financial leverage	2.32	1.75	1.70	1.70	2.33
Adjusted financial leverage	—	—	—	—	—
Return on Equity (ROE)
Reported ROE	-61.43%	0.88%	0.32%	0.60%	8.28%
Adjusted ROE	—	—	—	—	—
Return on Assets (ROA)
Reported ROA	-26.42%	0.50%	0.19%	0.36%	3.56%
Adjusted ROA	2.99%	1.41%	0.52%	0.94%	8.27%

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).

Financial ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Fidelity National Information Services Inc. adjusted net profit margin ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Fidelity National Information Services Inc. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Fidelity National Information Services Inc. adjusted ROA improved from 2020 to 2021 and from 2021 to 2022.

Fidelity National Information Services Inc., Financial Ratios: Reported vs. Adjusted

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	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Selected Financial Data (US$ in millions)
Net earnings (loss) attributable to FIS common stockholders	(16,720)	417)	158)	298)	846)
Revenue	14,528)	13,877)	12,552)	10,333)	8,423)
Profitability Ratio
Net profit margin¹	-115.09%	3.00%	1.26%	2.88%	10.04%
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted net earnings (loss) attributable to FIS common stockholders	868)	417)	158)	298)	846)
Revenue	14,528)	13,877)	12,552)	10,333)	8,423)
Profitability Ratio
Adjusted net profit margin²	5.97%	3.00%	1.26%	2.88%	10.04%

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).

2022 Calculations

¹ Net profit margin = 100 × Net earnings (loss) attributable to FIS common stockholders ÷ Revenue
= 100 × -16,720 ÷ 14,528 = -115.09%

² Adjusted net profit margin = 100 × Adjusted net earnings (loss) attributable to FIS common stockholders ÷ Revenue
= 100 × 868 ÷ 14,528 = 5.97%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by revenue.	Fidelity National Information Services Inc. adjusted net profit margin ratio improved from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Selected Financial Data (US$ in millions)
Revenue	14,528)	13,877)	12,552)	10,333)	8,423)
Total assets	63,278)	82,931)	83,842)	83,806)	23,770)
Activity Ratio
Total asset turnover¹	0.23	0.17	0.15	0.12	0.35
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Revenue	14,528)	13,877)	12,552)	10,333)	8,423)
Adjusted total assets	29,002)	29,601)	30,574)	31,564)	10,225)
Activity Ratio
Adjusted total asset turnover²	0.50	0.47	0.41	0.33	0.82

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).

2022 Calculations

¹ Total asset turnover = Revenue ÷ Total assets
= 14,528 ÷ 63,278 = 0.23

² Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= 14,528 ÷ 29,002 = 0.50

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Fidelity National Information Services Inc. adjusted total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Selected Financial Data (US$ in millions)
Total assets	63,278)	82,931)	83,842)	83,806)	23,770)
Total FIS stockholders’ equity	27,218)	47,347)	49,300)	49,440)	10,215)
Solvency Ratio
Financial leverage¹	2.32	1.75	1.70	1.70	2.33
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted total assets	29,002)	29,601)	30,574)	31,564)	10,225)
Adjusted total FIS stockholders’ equity	(7,058)	(5,983)	(3,968)	(2,802)	(3,330)
Solvency Ratio
Adjusted financial leverage²	—	—	—	—	—

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).

2022 Calculations

¹ Financial leverage = Total assets ÷ Total FIS stockholders’ equity
= 63,278 ÷ 27,218 = 2.32

² Adjusted financial leverage = Adjusted total assets ÷ Adjusted total FIS stockholders’ equity
= 29,002 ÷ -7,058 = —

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	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Selected Financial Data (US$ in millions)
Net earnings (loss) attributable to FIS common stockholders	(16,720)	417)	158)	298)	846)
Total FIS stockholders’ equity	27,218)	47,347)	49,300)	49,440)	10,215)
Profitability Ratio
ROE¹	-61.43%	0.88%	0.32%	0.60%	8.28%
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted net earnings (loss) attributable to FIS common stockholders	868)	417)	158)	298)	846)
Adjusted total FIS stockholders’ equity	(7,058)	(5,983)	(3,968)	(2,802)	(3,330)
Profitability Ratio
Adjusted ROE²	—	—	—	—	—

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).

2022 Calculations

¹ ROE = 100 × Net earnings (loss) attributable to FIS common stockholders ÷ Total FIS stockholders’ equity
= 100 × -16,720 ÷ 27,218 = -61.43%

² Adjusted ROE = 100 × Adjusted net earnings (loss) attributable to FIS common stockholders ÷ Adjusted total FIS stockholders’ equity
= 100 × 868 ÷ -7,058 = —

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	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Selected Financial Data (US$ in millions)
Net earnings (loss) attributable to FIS common stockholders	(16,720)	417)	158)	298)	846)
Total assets	63,278)	82,931)	83,842)	83,806)	23,770)
Profitability Ratio
ROA¹	-26.42%	0.50%	0.19%	0.36%	3.56%
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted net earnings (loss) attributable to FIS common stockholders	868)	417)	158)	298)	846)
Adjusted total assets	29,002)	29,601)	30,574)	31,564)	10,225)
Profitability Ratio
Adjusted ROA²	2.99%	1.41%	0.52%	0.94%	8.27%

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).

2022 Calculations

¹ ROA = 100 × Net earnings (loss) attributable to FIS common stockholders ÷ Total assets
= 100 × -16,720 ÷ 63,278 = -26.42%

² Adjusted ROA = 100 × Adjusted net earnings (loss) attributable to FIS common stockholders ÷ Adjusted total assets
= 100 × 868 ÷ 29,002 = 2.99%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Fidelity National Information Services Inc. adjusted ROA improved from 2020 to 2021 and from 2021 to 2022.

Fidelity National Information Services Inc. (NYSE:FIS)

Analysis of Goodwill and Intangible Assets

Goodwill and Intangible Asset Disclosure

Adjustments to Financial Statements: Removal of Goodwill

Fidelity National Information Services Inc., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Goodwill (Summary)

Fidelity National Information Services Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

Adjusted Total Asset Turnover

Adjusted Financial Leverage

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)