Cash Flow Statement
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
- Analysis of Debt
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Fidelity National Information Services Inc., consolidated cash flow statement
US$ in millions
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).
- Net earnings (loss)
- Net earnings experienced significant volatility over the period. Starting at $881 million in 2018, earnings decreased sharply to $303 million in 2019, further dropped to $164 million in 2020, and then recovered to $424 million in 2021 before a substantial loss of $16.7 billion in 2022.
- Depreciation and amortization
- Depreciation and amortization expenses increased steadily from $1.42 billion in 2018 to a peak of $4.015 billion in 2021, before slightly decreasing to $3.846 billion in 2022, indicating growing non-cash expenses associated with asset depreciation and amortization over time.
- Asset impairments
- Asset impairments remained relatively moderate between 2018 and 2021, ranging from $87 million to $202 million, but surged dramatically to $17.7 billion in 2022, which likely contributed to the significant net loss observed that year.
- Gain (loss) on sale of businesses, investments, and other
- There were fluctuations in gains and losses from business and investment sales, with a notable loss of $227 million in 2021 and a smaller loss of $53 million in 2022, contrasting with gains in earlier years.
- Stock-based compensation
- Stock-based compensation expenses grew considerably from $84 million in 2018 to $402 million in 2019, then declined to $215 million by 2022, indicating variable costs related to employee compensation plans.
- Deferred income taxes
- Deferred income taxes have consistently been negative, increasing in magnitude particularly in 2022 at -$544 million, which may reflect changes in tax liabilities or assets recognized over time.
- Net cash provided by operating activities
- Operating cash flow increased significantly from $1.993 billion in 2018 to a peak of $4.81 billion in 2021, with a decrease to $3.939 billion in 2022. This suggests overall improvement in cash-generating ability despite the net loss in 2022.
- Net cash used in investing activities
- Investing cash outflows were relatively low in 2018 (-$668 million) but spiked dramatically in 2019 (-$7.5 billion), reflecting large acquisitions. Outflows decreased in subsequent years, indicating reduced investment activity, with a modest outflow of $373 million in 2022.
- Borrowings and repayment of borrowings
- Borrowings increased consistently, reaching $75.3 billion by the end of 2022, while repayments also rose to $74.4 billion in the same year. This suggests active debt management with near matching issuance and repayment levels but a net increase in debt outstanding.
- Dividends paid
- Dividends showed a steady increase from $421 million in 2018 to $1.138 billion in 2022, indicating a commitment to returning value to shareholders despite operational challenges.
- Net cash provided by (used in) financing activities
- Financing activities showed variability, with net cash inflows in 2019 ($7.581 billion) due primarily to borrowing and issuance, but net outflows in other years, including consistent outflows in 2020-2022, reflecting repayments and dividend payments.
- Cash, cash equivalents, and restricted cash
- Ending cash balances increased markedly from $703 million in 2018 to $4.813 billion in 2022, demonstrating strong liquidity accumulation despite volatile earnings and significant investing and financing activities.