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Fidelity National Information Services, Inc. (FIS) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Fidelity National Information Services,

CIK: 1136893 Ticker: FIS

fislogo1a.jpg

Exhibit 99.1
News Release
FIS Reports Fourth Quarter and Full-Year 2020 Results

Accelerated revenue growth sequentially in Banking and Capital Markets
Achieved annual run-rate revenue synergies in excess of $200 million and annual run-rate expense synergies in excess of $750 million, including annual run-rate operating expense synergies of $400 million
Generated net cash provided by operating activities of $1,417 million and $4,442 million and free cash flow of $977 million and $3,037 million in the quarter and full-year, respectively
Announces first quarter and full-year 2021 guidance

JACKSONVILLE Fla., February 9, 2021 -
FIS™ (NYSE:FIS), a global leader in financial services technology, today reported its fourth quarter and full-year 2020 results.

“A year into the COVID-19 pandemic, I’m proud of how FIS has stood firm in support of our clients, colleagues and communities,” said Gary Norcross, chairman, president and chief executive officer, FIS. “The strength of our strategy and our continued investments in innovation are helping our clients rebound and thrive in an increasingly digital financial world. These successes combined with our operational efficiency gains are also delivering long-term value to our shareholders.”

Fourth Quarter 2020
On a GAAP basis, consolidated revenue decreased 1% to $3,316 million, primarily due to negative consumer spending trends associated with the ongoing COVID-19 pandemic. Net earnings attributable to common stockholders were $103 million or $0.16 per diluted share.

On an organic basis, revenue was flat as compared to the prior year period, primarily due to negative consumer spending trends associated with the ongoing COVID-19 pandemic. Adjusted EBITDA margin expanded by 60 basis points (bps) over the prior year period to 45.2%, primarily due to short-term cost actions and the achievement of cost synergies associated with the July 31, 2019 acquisition of Worldpay, Inc. (Worldpay). Adjusted net earnings were $1,016 million or $1.62 per diluted share.

Organic growth excludes the impact of foreign currency exchange rates in the current period, acquisition or divestiture impact from the prior period and beginning this quarter and for the full year, excludes Corporate and Other revenue from the current and prior period. Corporate and Other revenue is generated by non-strategic businesses that we plan to wind down or sell.


The following information was filed by Fidelity National Information Services, Inc. (FIS) on Tuesday, February 9, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Fidelity National Information Services, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Earnings
Consolidated Statements Of Earnings
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parenthetical)
Accounts Payable, Accrued And Other Liabilities
Accounts Payable, Accrued And Other Liabilities (Details)
Accounts Payable, Accrued And Other Liabilities (Tables)
Acquisitions
Acquisitions (Purchase Price Allocation)) (Details)
Acquisitions (Purchase Price) (Details)
Acquisitions (Tables)
Acquisitions (Unaudited Pro Forma Results Of Operations) (Details)
Acquisitions (Virtus Acquisition Narrative) (Details)
Acquisitions (Worldpay Narrative) (Details)
Basis Of Presentation
Basis Of Presentation (Narrative) (Details)
Commitments And Contingencies
Commitments And Contingencies (Commitments Maturity Schedule) (Details)
Commitments And Contingencies (Narratives) (Details)
Commitments And Contingencies (Purchase Commitments Narrative) (Details)
Commitments And Contingencies (Tables)
Components Of Other Comprehensive Earnings (Loss)
Components Of Other Comprehensive Earnings (Loss) (Details)
Components Of Other Comprehensive Earnings (Loss) (Tables)
Concentration Of Risk
Debt
Debt (Narrative) (Details)
Debt (Schedule Of Outstanding Debt) (Details)
Debt (Schedule Of Principal Maturities Of Long-Term Debt) (Details)
Debt (Short Term Debt) (Details)
Debt (Tables)
Deferred Contract Costs
Deferred Contract Costs (Details)
Deferred Contract Costs (Narratives) (Details)
Deferred Contract Costs (Tables)
Divestitures
Divestitures (Narrative) (Details)
Employee Benefit Plans
Employee Benefit Plans (Narratives) (Details)
Employee Benefit Plans (Schedule Of Restricted Stock Activity) (Details)
Employee Benefit Plans (Schedule Of Stock Option Activity) (Details)
Employee Benefit Plans (Schedule Of Stock Option Valuation Assumptions) (Details)
Employee Benefit Plans (Tables)
Financial Instruments
Financial Instruments (Narratives) (Details)
Goodwill
Goodwill (Changes In Goodwill) (Details)
Goodwill (Tables)
Income Taxes
Income Taxes (Narratives) (Details)
Income Taxes (Schedule Of Components Of Income Tax Expense (Benefit) And Pre-Tax Income From Continuing Operations) (Details)
Income Taxes (Schedule Of Components Of Income Tax Expense (Benefit)) (Allocation) (Details)
Income Taxes (Schedule Of Deferred Income Tax Assets And Liabilities) (Classification) (Details)
Income Taxes (Schedule Of Deferred Income Tax Assets And Liabilities) (Details)
Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details)
Income Taxes (Schedule Of Unrecognized Tax Benefits Roll Forward) (Details)
Income Taxes (Tables)
Intangible Assets
Intangible Assets (Narratives) (Details)
Intangible Assets (Schedule Of Estimated Amortization Of Intangibles For The Next Five Years) (Details)
Intangible Assets (Schedule Of Finite-Lived Intangible Assets) (Details)
Intangible Assets (Tables)
Operating Leases
Operating Leases (Tables)
Operating Leases - (Balance Sheet Classification) (Details)
Operating Leases - (Maturities Of Operating Leases) (Details)
Operating Leases - (Narratives) (Details)
Other Noncurrent Assets And Liabilities
Other Noncurrent Assets And Liabilities (Tables)
Other Noncurrent Assets And Liabilities - Narratives (Details)
Other Noncurrent Assets And Liabilities - Noncurrent Assets (Details)
Other Noncurrent Assets And Liabilities - Other Noncurrent Liabilities (Details)
Property And Equipment
Property And Equipment (Narrative) (Details)
Property And Equipment (Schedule Of Property And Equipment) (Details)
Property And Equipment (Tables)
Related Party Transactions
Related Party Transactions (Narratives) (Details)
Revenue
Revenue (Disaggregation Of Revenue) (Details)
Revenue (Narratives) (Details)
Revenue (Tables)
Segment Information
Segment Information (Narrative) (Details)
Segment Information (Schedule Of Financial Information For The Company's Segments) (Details)
Segment Information (Tables)
Software
Software (Details)
Software (Narratives) (Details)
Software (Tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Cash And Cash Equivalents) (Details)
Summary Of Significant Accounting Policies (Narrative) (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Schedule Of Net Earnings Per Share) (Details)
Summary Of Significant Accounting Policies (Tables)
Ticker: FIS
CIK: 1136893
Form Type: 10-K Annual Report
Accession Number: 0001136893-21-000025
Submitted to the SEC: Thu Feb 18 2021 4:16:21 PM EST
Accepted by the SEC: Thu Feb 18 2021
Period: Thursday, December 31, 2020
Industry: Business Services

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