Stock Analysis on Net

Fidelity National Information Services Inc. (NYSE:FIS)

Adjustments to Financial Statements

Microsoft Excel LibreOffice Calc

Adjustments to Current Assets

Fidelity National Information Services Inc., adjusted current assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Current assets 9,898  8,692  3,733  3,606  4,282 
Adjustments
Add: Allowance for credit losses 82  60  17  63  41 
Less: Current deferred income tax assets1 —  —  —  —  101 
After Adjustment
Adjusted current assets 9,980  8,752  3,750  3,669  4,222 

Based on: 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), 10-K (reporting date: 2016-12-31).

1 Current deferred income tax assets. See details »


Adjustments to Total Assets

Fidelity National Information Services Inc., adjusted total assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Total assets 83,842  83,806  23,770  24,517  26,031 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 —  —  434  315  360 
Add: Allowance for credit losses 82  60  17  63  41 
Less: Current deferred income tax assets2 —  —  —  —  101 
Less: Noncurrent deferred income tax assets (included in Other noncurrent assets)3 40  38  32  30  25 
After Adjustment
Adjusted total assets 83,884  83,828  24,189  24,865  26,306 

Based on: 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), 10-K (reporting date: 2016-12-31).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Current deferred income tax assets. See details »

3 Noncurrent deferred income tax assets (included in Other noncurrent assets). See details »


Adjustments to Current Liabilities

Fidelity National Information Services Inc., adjusted current liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Current liabilities 12,361  10,382  3,125  3,923  3,151 
Adjustments
Less: Current deferred income tax liabilities (included in Accounts payable, accrued and other liabilities)1 —  —  —  — 
Less: Current deferred revenue 881  817  739  688  680 
After Adjustment
Adjusted current liabilities 11,480  9,565  2,386  3,235  2,467 

Based on: 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), 10-K (reporting date: 2016-12-31).

1 Current deferred income tax liabilities (included in Accounts payable, accrued and other liabilities). See details »


Adjustments to Total Liabilities

Fidelity National Information Services Inc., adjusted total liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Total liabilities 34,355  34,350  13,548  13,573  16,186 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  434  315  360 
Less: Current deferred income tax liabilities (included in Accounts payable, accrued and other liabilities)2 —  —  —  — 
Less: Noncurrent deferred income tax liabilities3 4,017  4,281  1,360  1,508  2,484 
Less: Deferred revenue 940  869  806  709  699 
After Adjustment
Adjusted total liabilities 29,398  29,200  11,816  11,671  13,359 

Based on: 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), 10-K (reporting date: 2016-12-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current deferred income tax liabilities (included in Accounts payable, accrued and other liabilities). See details »

3 Noncurrent deferred income tax liabilities. See details »


Adjustments to Stockholders’ Equity

Fidelity National Information Services Inc., adjusted total FIS stockholders’ equity

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Total FIS stockholders’ equity 49,300  49,440  10,215  10,835  9,741 
Adjustments
Less: Net deferred income tax asset (liability)1 (3,977) (4,243) (1,328) (1,478) (2,362)
Add: Allowance for credit losses 82  60  17  63  41 
Add: Deferred revenue 940  869  806  709  699 
Add: Redeemable noncontrolling interest 174  —  —  —  — 
Add: Noncontrolling interest 13  16  109  104 
After Adjustment
Adjusted total equity 54,486  54,628  12,373  13,194  12,947 

Based on: 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), 10-K (reporting date: 2016-12-31).

1 Net deferred income tax asset (liability). See details »


Adjustments to Capitalization Table

Fidelity National Information Services Inc., adjusted capitalization table

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Short-term borrowings 2,750  2,823  267  —  — 
Current portion of long-term debt 1,314  140  48  1,045  332 
Long-term debt, excluding current portion 15,951  17,229  8,670  7,718  10,146 
Total reported debt 20,015  20,192  8,985  8,763  10,478 
Total FIS stockholders’ equity 49,300  49,440  10,215  10,835  9,741 
Total reported capital 69,315  69,632  19,200  19,598  20,219 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  434  315  360 
Add: Current operating lease liabilities2 152  129  —  —  — 
Add: Noncurrent operating lease liabilities3 453  466  —  —  — 
Adjusted total debt 20,620  20,787  9,419  9,078  10,838 
Adjustments to Equity
Less: Net deferred income tax asset (liability)4 (3,977) (4,243) (1,328) (1,478) (2,362)
Add: Allowance for credit losses 82  60  17  63  41 
Add: Deferred revenue 940  869  806  709  699 
Add: Redeemable noncontrolling interest 174  —  —  —  — 
Add: Noncontrolling interest 13  16  109  104 
Adjusted total equity 54,486  54,628  12,373  13,194  12,947 
After Adjustment
Adjusted total capital 75,106  75,415  21,792  22,272  23,785 

Based on: 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), 10-K (reporting date: 2016-12-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current operating lease liabilities. See details »

3 Noncurrent operating lease liabilities. See details »

4 Net deferred income tax asset (liability). See details »


Adjustments to Revenues

Fidelity National Information Services Inc., adjusted revenue

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Revenue 12,552  10,333  8,423  9,123  9,241 
Adjustment
Add: Increase (decrease) in deferred revenue 71  63  (76) 10  54 
After Adjustment
Adjusted revenue 12,623  10,396  8,347  9,133  9,295 

Based on: 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), 10-K (reporting date: 2016-12-31).


Adjustments to Reported Income

Fidelity National Information Services Inc., adjusted net earnings attributable to FIS common stockholders

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Net earnings attributable to FIS common stockholders 158  298  846  1,319  568 
Adjustments
Add: Deferred income tax expense (benefit)1 (211) (115) (116) (1,003) (176)
Add: Increase (decrease) in allowance for credit losses 22  43  (46) 22  25 
Add: Increase (decrease) in deferred revenue 71  63  (76) 10  54 
Add: Other comprehensive earnings (loss), net of tax 90  397  (116) (2) (34)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest 17  32  41 
After Adjustment
Adjusted net earnings 136  691  509  378  478 

Based on: 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), 10-K (reporting date: 2016-12-31).

1 Deferred income tax expense (benefit). See details »