Cash Flow Statement
Quarterly Data
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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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Debt to Equity since 2005
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Fidelity National Information Services Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Net Earnings (Loss)
- The net earnings experienced notable volatility over the analyzed periods. Starting with positive earnings around $190 million in early 2018, the company saw fluctuations including a substantial loss of $-156 million at the end of 2019 and a significant loss of $-17,363 million in early 2023. Periods of recovery with positive earnings followed these losses, reflecting episodic gains and downturns without a consistent long-term upward or downward trend.
- Depreciation and Amortization
- Depreciation and amortization steadily increased from 2018 through 2019, peaking at around $956 million in late 2019 and maintaining a high range above $900 million thereafter. This suggests an expanding asset base and related amortization expense consistent over time.
- Stock-Based Compensation
- Stock-based compensation rose sharply around mid-2019, reaching a peak of $264 million by the end of 2019, likely tied to acquisition-related expenses or strategic incentives. Post-2019, the figures steadily decreased, stabilizing between $17 million and $88 million, indicating a normalization after peak highs.
- Asset Impairments
- Asset impairments appeared intermittently with spikes in late 2018, 2020, and especially in 2023 where a large impairment of $17,605 million occurred, dramatically impacting earnings and reflecting a major write-down or restructuring event.
- Deferred Income Taxes
- The deferred tax figures were predominantly negative, implying deferred tax assets or timing differences. There were some irregular positive spikes, but overall, deferred income taxes contributed as a fluctuating non-cash adjustment to earnings and cash flow.
- Receivables and Payables
- Trade and other receivables showed inconsistent movements, alternating between positive and negative changes, indicating variability in collection cycles or sales timing. Accounts payable and accrued liabilities similarly fluctuated, reflecting changing operational payables and working capital management dynamics with no consistent trend.
- Settlement Activity
- Settlement activity demonstrated high variability, with negative spikes notably in late 2019 and early 2020, followed by significant positive cash flow impacts mid to late 2020 and again in 2021 through early 2023. This irregular pattern suggests episodic settlement gains or payments impacting cash flow substantially in certain quarters.
- Operating Cash Flow
- Net cash provided by operating activities exhibited growth from 2018 through 2021, with some notable recovery periods after losses. Peaks occurred in late 2020 and 2021, followed by variability and a decrease in 2023, likely influenced by extraordinary charges and asset impairments.
- Investing Activities
- Net cash used in investing activities consistently reflected investment in property, equipment, and software. Capital expenditures in software showed a clear upward trend starting from approximately $118 million early 2018, peaking around $304 million in 2021, indicating ongoing investment in technology development. Acquisition-related cash outflows were sporadic but significant, as seen in late 2019 with large cash outflows, reflecting major strategic transactions.
- Financing Activities
- Financing cash flows varied widely, with substantial borrowings and repayments. The company exhibited aggressive debt management, with borrowings and repayments occurring in large and fluctuating amounts each quarter. Dividend payments increased gradually over time, reflecting a consistent shareholder return policy. Treasury stock activity was notable, with large purchases in some periods balancing smaller amounts in others.
- Overall Liquidity and Cash Balances
- Net change in cash balances fluctuated, with significant increases, for example in mid-2019, likely driven by large borrowings and financing inflows, and decreases at other points linked to substantial asset impairments or investing outflows. The liquidity position appears highly variable, influenced by strategic financing, investing activities, and episodic impairments.
- Foreign Currency and Other Adjustments
- Changes due to foreign currency exchange rates had a mixed impact, with both positive and negative effects, especially notable in some quarters such as early 2022 with a $-390 million impact. Other non-operating items such as loss on extinguishment of debt and gains or losses on sales of investments affected reported earnings sporadically.