Name: Fidelity National Information Services Inc. (NYSE:FIS) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Cash and cash equivalents	2,188)	2,010)	1,959)	1,152)	703)
Settlement deposits	492)	530)	1,181)	1,363)	700)
Merchant float	2,625)	2,273)	2,071)	1,519)	—)
Settlement receivables	2,738)	1,217)	662)	647)	281)
Settlement assets	5,855)	4,020)	3,914)	3,529)	981)
Trade receivables, net of allowance for credit losses	3,699)	3,772)	3,314)	3,242)	1,472)
Other receivables	493)	355)	317)	337)	166)
Prepaid expenses and other current assets	583)	551)	394)	432)	411)
Current assets	12,818)	10,708)	9,898)	8,692)	3,733)
Property and equipment, net	862)	949)	887)	900)	587)
Goodwill	34,276)	53,330)	53,268)	52,242)	13,545)
Intangible assets, net	8,956)	11,539)	13,928)	15,798)	3,132)
Software, net	3,238)	3,299)	3,370)	3,204)	1,795)
Operating lease ROU assets	313)	462)	534)	564)	—)
Equity security investments	393)	358)	81)	—)	—)
Visa Europe and contingent value rights (CVR) related assets	55)	197)	70)	940)	—)
Derivatives	330)	340)	—)	—)	—)
Other	957)	780)	889)	799)	503)
Other noncurrent assets	2,048)	2,137)	1,574)	2,303)	503)
Contract costs on implementations in progress	250)	218)	245)	138)	93)
Contract origination costs on completed implementations, net	579)	553)	470)	352)	219)
Contract fulfillment costs on completed implementations, net	251)	198)	202)	177)	163)
Deferred contract costs, net	1,080)	969)	917)	667)	475)
Noncurrent assets	50,460)	72,223)	73,944)	75,114)	20,037)
Total assets	63,278)	82,931)	83,842)	83,806)	23,770)

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 total asset base experienced a dramatic expansion in 2019, increasing from 23.77 billion USD to 83.81 billion USD, followed by a period of relative stability until 2022, when total assets declined to 63.28 billion USD. This trajectory indicates a significant corporate event in 2019, likely an acquisition, and a subsequent reduction in asset value by 2022, primarily driven by changes in noncurrent asset valuations.

Current Asset Trends: Current assets demonstrated consistent growth over the five-year period, rising from 3.73 billion USD in 2018 to 12.82 billion USD in 2022. Cash and cash equivalents grew steadily from 703 million USD to 2.19 billion USD. A notable increase is observed in settlement-related assets; settlement assets grew from 981 million USD to 5.86 billion USD, and settlement receivables rose from 281 million USD to 2.74 billion USD. Merchant float, which first appeared in the records in 2019 at 1.52 billion USD, expanded to 2.63 billion USD by 2022, suggesting an increase in transaction processing volumes.
Intangible Asset and Goodwill Volatility: The most significant fluctuations occurred within the noncurrent asset category. Goodwill surged from 13.55 billion USD in 2018 to a peak of 53.33 billion USD in 2021, before dropping sharply to 34.28 billion USD in 2022. Similarly, intangible assets peaked in 2019 at 15.80 billion USD and declined to 8.96 billion USD by 2022. The simultaneous spike and subsequent reduction in these accounts suggest major structural changes, such as a large-scale acquisition followed by either a divestiture or significant impairment charges.
Operational and Contract Assets: Investment in software remained relatively stable, hovering between 3.20 billion USD and 3.37 billion USD from 2019 through 2022. Deferred contract costs showed a persistent upward trend, increasing from 475 million USD in 2018 to 1.08 billion USD in 2022. This growth, alongside the rise in contract origination and fulfillment costs, indicates ongoing investment in client implementations and long-term service delivery.

The asset composition shifted from being heavily dominated by intangible assets and goodwill in 2019-2021 toward a more balanced profile by 2022. While the total asset figure decreased in the final year, the growth in current assets—specifically liquid cash and settlement-related balances—suggests an increase in operational scale and liquidity despite the reduction in long-term book value.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.

How can I help you?

Assets: Selected Items

Download chart

Current Assets: Selected Items

Download chart