8-KEarnings & ResultsExhibits & Filings

Fidelity National Information Services, Inc. 8-K Report, Financial Results (Sep 5, 2008)

Filed September 5, 2008For Securities:FIS

Summary

Fidelity National Information Services, Inc. (FIS) filed an 8-K on September 5, 2008, primarily to furnish supplemental financial information related to the spin-off of Lender Processing Services, Inc. (LPS) completed on July 2, 2008. Due to accounting principles, LPS could not be formally classified as a discontinued operation until later filings. Therefore, FIS is providing voluntarily recast historical financial data for 2007 and the first two quarters of 2008, presenting continuing operations by excluding LPS and other smaller businesses. This filing also includes non-GAAP financial measures, which management uses for internal planning and performance evaluation. FIS emphasizes that these non-GAAP figures are presented alongside GAAP measures and should not be used as a substitute for them. Investors should note that the provided information is 'furnished,' not 'filed,' meaning it is not subject to the same liabilities under Section 18 of the Securities Exchange Act of 1934.

Key Highlights

  • 1FIS completed the spin-off of Lender Processing Services, Inc. (LPS) on July 2, 2008.
  • 2The company is furnishing supplemental financial schedules (Exhibit 99.1) to present historical results excluding LPS as discontinued operations.
  • 3These schedules recast 2007 annual and quarterly results, along with Q1 and Q2 2008 results, to reflect continuing operations.
  • 4Management is providing non-GAAP financial measures for planning and performance evaluation purposes.
  • 5FIS states that non-GAAP measures are used in conjunction with GAAP measures and are not a substitute for them.
  • 6Information provided in Items 2.02 and 9.01 is furnished, not filed, per SEC regulations.
  • 7The filing aims to improve investor understanding of FIS's ongoing operating performance post-LPS spin-off.

Frequently Asked Questions

The main purpose of this 8-K is to provide investors with supplemental financial information that recasts FIS's historical financial results (2007 and early 2008) to exclude the operations of Lender Processing Services (LPS), which was spun off on July 2, 2008. This is done to give a clearer picture of the company's continuing operations before LPS could be formally classified as a discontinued operation in future GAAP filings.

FIS is providing non-GAAP financial measures because management uses them for internal planning, budgeting, and evaluating the operating performance of its businesses. They believe these measures, which exclude certain items not indicative of core results, are relevant and useful for investors in understanding performance alongside GAAP measures.

No, the information provided in Items 2.02 and 9.01 of this Current Report, including Exhibit 99.1, is being 'furnished,' not 'filed.' This means it is not subject to the liabilities of Section 18 of the Securities Exchange Act of 1934, nor is it automatically incorporated into future SEC registration statements or filings.

The spin-off of LPS means its financial results are no longer part of FIS's continuing operations. FIS is presenting recast historical financial data to reflect this change, allowing investors to analyze the performance of the remaining FIS businesses more effectively.