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Fidelity National Information Services Inc. (NYSE:FIS)

This company has been moved to the archive! The financial data has not been updated since May 2, 2023.

Common-Size Balance Sheet: Assets

Fidelity National Information Services Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Cash and cash equivalents 3.46 2.42 2.34 1.37 2.96
Settlement deposits 0.78 0.64 1.41 1.63 2.94
Merchant float 4.15 2.74 2.47 1.81 0.00
Settlement receivables 4.33 1.47 0.79 0.77 1.18
Settlement assets 9.25% 4.85% 4.67% 4.21% 4.13%
Trade receivables, net of allowance for credit losses 5.85 4.55 3.95 3.87 6.19
Other receivables 0.78 0.43 0.38 0.40 0.70
Prepaid expenses and other current assets 0.92 0.66 0.47 0.52 1.73
Current assets 20.26% 12.91% 11.81% 10.37% 15.70%
Property and equipment, net 1.36 1.14 1.06 1.07 2.47
Goodwill 54.17 64.31 63.53 62.34 56.98
Intangible assets, net 14.15 13.91 16.61 18.85 13.18
Software, net 5.12 3.98 4.02 3.82 7.55
Operating lease ROU assets 0.49 0.56 0.64 0.67 0.00
Equity security investments 0.62 0.43 0.10 0.00 0.00
Visa Europe and contingent value rights (CVR) related assets 0.09 0.24 0.08 1.12 0.00
Derivatives 0.52 0.41 0.00 0.00 0.00
Other 1.51 0.94 1.06 0.95 2.12
Other noncurrent assets 3.24% 2.58% 1.88% 2.75% 2.12%
Contract costs on implementations in progress 0.40 0.26 0.29 0.16 0.39
Contract origination costs on completed implementations, net 0.92 0.67 0.56 0.42 0.92
Contract fulfillment costs on completed implementations, net 0.40 0.24 0.24 0.21 0.69
Deferred contract costs, net 1.71% 1.17% 1.09% 0.80% 2.00%
Noncurrent assets 79.74% 87.09% 88.19% 89.63% 84.30%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

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).

The asset composition exhibits a strategic shift toward increased liquidity and a reduction in the relative weight of long-term intangible assets over the five-year period. After an initial contraction in current assets between 2018 and 2019, there is a pronounced upward trend culminating in 2022, where current assets reached 20.26% of total assets, the highest level in the analyzed period.

Current Asset Dynamics
A significant increase in settlement-related assets is observed. Settlement assets more than doubled from 4.13% in 2018 to 9.25% in 2022, while settlement receivables rose from 1.18% to 4.33% in the same timeframe. Additionally, merchant float, which was not recorded in 2018, grew steadily to represent 4.15% of total assets by 2022. Cash and cash equivalents remained relatively stable, ending the period at 3.46% compared to 2.96% at the start.
Intangible Asset Concentration
The balance sheet remains heavily weighted toward noncurrent assets, although their total share decreased from a peak of 89.63% in 2019 to 79.74% in 2022. Goodwill represents the largest single asset component, peaking at 64.31% in 2021 before declining to 54.17% in 2022. Net intangible assets showed volatility, increasing from 13.18% in 2018 to a peak of 18.85% in 2019, then moderating to 14.15% by 2022.
Fixed and Other Noncurrent Assets
Property and equipment, net, maintained a minimal footprint, fluctuating between 1.06% and 2.47%. Software, net, saw a reduction from 7.55% in 2018 to 3.82% in 2019, with a slight recovery to 5.12% by 2022. Deferred contract costs, net, experienced a downward trend from 2.00% in 2018, though they recovered to 1.71% in 2022.
Overall Structural Transition
The transition from a noncurrent asset dominance of over 80% toward a more balanced distribution suggests a shift in the asset base. The growth in operational assets, specifically those related to settlement and merchant activities, indicates an expansion in the volume of processed transactions or a change in the operational cycle of the business model.

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