8-KOther EventsExhibits & Filings

Fidelity National Information Services, Inc. 8-K Report, Corporate Update (Jun 2, 2016)

Filed June 2, 2016For Securities:FIS

Summary

Fidelity National Information Services, Inc. (FIS) filed this Form 8-K to formally recast prior period financial statements, specifically for the three years ending December 31, 2015. This recasting is primarily to align with a revised segment reporting structure implemented following the acquisition of SunGard. The company's operational segments were reorganized into Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. The SunGard business was initially placed within GFS, but post-integration, certain SunGard operations (corporate liquidity and wealth management) have been moved to IFS due to their alignment with retail banking and payments activities. Additionally, non-strategic businesses from both SunGard and legacy FIS have been consolidated into the Corporate and Other segment. This filing is a technical requirement by the SEC to ensure compliance, especially if FIS were to file or amend registration statements, proxy materials, or information statements in the future that incorporate financial statements. Importantly, this recasting does not alter previously reported consolidated revenues, operating income, or net earnings for any period. Investors should refer to subsequent filings, such as the Form 10-Q for the quarter ended March 31, 2016, for any post-acquisition developments and updated financial performance.

Key Highlights

  • 1FIS is recasting prior period financial statements (2013-2015) to reflect changes in its business segment reporting.
  • 2The segment reclassification follows the integration of the SunGard acquisition.
  • 3SunGard's corporate liquidity and wealth management businesses have been reclassified from GFS to IFS.
  • 4Non-strategic businesses from both SunGard and legacy FIS are now reported in the Corporate and Other segment.
  • 5This filing ensures compliance with SEC rules regarding financial statement presentation in future registration or proxy statements.
  • 6The recasting does NOT change previously reported consolidated revenues, operating income, or net earnings.
  • 7Investors should consult the March 31, 2016 Form 10-Q for subsequent developments.

Frequently Asked Questions

FIS is filing this 8-K to comply with SEC regulations. When a company changes its segment reporting structure, as FIS did following the SunGard acquisition, it must recast prior period financial statements to ensure consistency, especially if those statements are incorporated into future registration, proxy, or information statements.

No, the filing explicitly states that this recasting does not amend or restate consolidated revenues, operating income, or net earnings for any previously reported periods. It's purely an internal reclassification of how revenues and expenses are presented across different business segments.

FIS reorganized into three segments: Integrated Financial Solutions (IFS), Global Financial Solutions (GFS), and Corporate and Other. Following the SunGard acquisition, certain SunGard businesses (corporate liquidity and wealth management) were moved from GFS to IFS because they better align with IFS's retail banking and payments focus. Non-strategic businesses from both SunGard and legacy FIS were moved to the Corporate and Other segment.

This 8-K focuses on historical segment reclassifications and does not reflect events after FIS's 2015 Annual Report. For developments and financial performance subsequent to the 2015 Annual Report, investors should refer to FIS's Quarterly Report on Form 10-Q for the quarter ended March 31, 2016, filed on May 4, 2016, and other subsequent SEC filings.