8-KEarnings & ResultsRegulation FDExhibits & Filings

FISERV INC 8-K Report, Financial Results (Oct 28, 2008)

Filed October 28, 2008For Securities:FISV

Summary

Fiserv, Inc. (FISV) filed an 8-K on October 28, 2008, to report its financial results for the quarter ended September 30, 2008. The filing primarily includes a press release detailing these results and provides updated financial information. A key aspect of this report is the company's reclassification of certain insurance businesses as discontinued operations, consistent with the sale of a majority interest in its "Fiserv Insurance" segment on July 14, 2008. The company will now report its remaining 49% share of net income from these divested insurance businesses as "income from investment in unconsolidated affiliate." This change in reporting reflects a strategic shift for Fiserv, focusing on its core operations. Investors should pay close attention to the performance of the continuing operations and how the reduced reporting of the insurance segment impacts overall financial figures. The recast financial information allows for a clearer comparison of ongoing business performance year-over-year.

Key Highlights

  • 1Fiserv announced its financial results for the third quarter of 2008 on October 28, 2008.
  • 2The company has reclassified its insurance businesses, previously held for sale, as discontinued operations.
  • 3This reclassification follows the sale of a majority interest in its "Fiserv Insurance" segment on July 14, 2008.
  • 4Fiserv will now report its 49% share of net income from the divested insurance businesses as "income from investment in unconsolidated affiliate."
  • 5Unaudited consolidated financial information for 2007 and 2008 has been recast to reflect this change.
  • 6The updated financial presentation aims to provide a clearer view of the company's ongoing business performance.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce Fiserv's financial results for the quarter ended September 30, 2008, and to provide updated financial information, including the reclassification of certain insurance businesses as discontinued operations.

In this context, "discontinued operations" refers to the insurance businesses that Fiserv has largely divested, specifically following the sale of a majority interest in its "Fiserv Insurance" segment. These businesses are no longer considered part of the company's ongoing core operations.

Fiserv will now report its remaining 49% share of net income from the divested insurance businesses under the line item "income from investment in unconsolidated affiliate."

Fiserv recast its historical financial information for 2007 and 2008 to align with the new reporting treatment of its insurance businesses as discontinued operations. This allows for a more consistent and comparable presentation of the company's financial performance, especially when comparing ongoing operations over time.