Name: Fidelity National Information Services Inc. (NYSE:FIS) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Fidelity National Information Services Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Trade accounts payable and other accrued liabilities	1,620)	1,829)	1,576)	1,386)	687)
Salaries and incentives	410)	403)	261)	414)	218)
Taxes other than income tax	387)	299)	236)	220)	57)
Accrued benefits and payroll taxes	104)	134)	155)	116)	66)
Current operating lease liabilities	120)	146)	152)	129)	—)
Accrued interest payable	113)	53)	102)	109)	71)
Accounts payable, accrued and other liabilities	2,754)	2,864)	2,482)	2,374)	1,099)
Settlement payables	6,752)	5,295)	4,934)	4,228)	972)
Deferred revenue	788)	779)	881)	817)	739)
Short-term borrowings	3,797)	3,911)	2,750)	2,823)	267)
Current portion of long-term debt	2,133)	1,617)	1,314)	140)	48)
Current liabilities	16,224)	14,466)	12,361)	10,382)	3,125)
Long-term debt, excluding current portion	14,207)	14,825)	15,951)	17,229)	8,670)
Deferred income taxes	3,550)	4,193)	4,017)	4,281)	1,360)
Noncurrent operating lease liabilities	294)	378)	453)	466)	—)
Tax Receivable Agreement liability	69)	267)	447)	532)	—)
CVR liability	342)	478)	401)	838)	—)
Deferred revenue	165)	175)	59)	52)	67)
Derivatives	641)	165)	—)	—)	—)
Other	380)	452)	666)	570)	326)
Other noncurrent liabilities	1,891)	1,915)	1,967)	2,406)	326)
Noncurrent liabilities	19,648)	20,933)	21,994)	23,968)	10,423)
Total liabilities	35,872)	35,399)	34,355)	34,350)	13,548)
Redeemable noncontrolling interest	180)	174)	174)	—)	—)
Preferred stock, $0.01 par value, none issued and outstanding	—)	—)	—)	—)	—)
Common stock, $0.01 par value	6)	6)	6)	6)	4)
Additional paid in capital	46,735)	46,466)	45,947)	45,358)	10,800)
Retained earnings (accumulated deficit)	(14,971)	2,889)	3,440)	4,161)	4,528)
Accumulated other comprehensive earnings (loss)	(360)	252)	57)	(33)	(430)
Treasury stock, $0.01 par value, at cost	(4,192)	(2,266)	(150)	(52)	(4,687)
Total FIS stockholders’ equity	27,218)	47,347)	49,300)	49,440)	10,215)
Noncontrolling interest	8)	11)	13)	16)	7)
Total equity	27,226)	47,358)	49,313)	49,456)	10,222)
Total liabilities, redeemable noncontrolling interest and equity	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 balance sheet exhibits a significant expansion in total liabilities and equity between 2018 and 2019, followed by a period of relative stabilization and a subsequent contraction in total capital by 2022. While total liabilities have grown steadily from 13,548 million US dollars in 2018 to 35,872 million US dollars in 2022, the composition of these liabilities has shifted toward shorter-term obligations.

Current Liabilities and Short-Term Obligations: Current liabilities have increased consistently every year, rising from 3,125 million US dollars in 2018 to 16,224 million US dollars in 2022. This growth is primarily driven by settlement payables, which increased nearly sevenfold from 972 million US dollars in 2018 to 6,752 million US dollars in 2022. Additionally, short-term borrowings and the current portion of long-term debt have risen sharply, with the latter increasing from 48 million US dollars in 2018 to 2,133 million US dollars in 2022, indicating a higher requirement for immediate liquidity to service debt.
Long-Term Debt and Noncurrent Liabilities: Noncurrent liabilities peaked in 2019 at 23,968 million US dollars and have since trended downward to 19,648 million US dollars by 2022. Long-term debt, excluding the current portion, followed a similar trajectory, peaking at 17,229 million US dollars in 2019 before declining to 14,207 million US dollars in 2022. This suggests a strategic shift or a repayment phase regarding long-term borrowing, though this is partially offset by the increase in short-term debt obligations.
Stockholders' Equity and Retained Earnings: Total equity experienced a dramatic surge in 2019, increasing from 10,222 million US dollars to 49,456 million US dollars, largely due to a substantial increase in additional paid-in capital. However, a sharp decline occurred in 2022, with total equity falling to 27,226 million US dollars. The primary driver of this contraction was a pivot in retained earnings, which moved from a positive balance of 2,889 million US dollars in 2021 to an accumulated deficit of 14,971 million US dollars in 2022. This deficit, combined with an increase in treasury stock expenditures to 4,192 million US dollars, significantly reduced the overall equity position.
Overall Balance Sheet Magnitude: The total of liabilities, redeemable noncontrolling interest, and equity rose from 23,770 million US dollars in 2018 to a peak of approximately 83,842 million US dollars in 2020. By the end of 2022, the total balance sheet contracted to 63,278 million US dollars. This overall reduction is predominantly attributable to the decline in stockholders' equity rather than a significant reduction in total liabilities, which remained near their peak levels.

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