8-KEarnings & ResultsExhibits & Filings

FISERV INC 8-K Report, Financial Results (Oct 3, 2019)

Filed October 3, 2019For Securities:FISV

Summary

This 8-K filing from Fiserv, Inc. (FISV) primarily announces the inclusion of First Data Corporation's financial results following its acquisition on July 29, 2019. Investors should note that First Data's performance will be consolidated into Fiserv's results from that date forward, impacting reported revenues and expenses. The company is also providing supplemental financial information to help stakeholders understand the combined entity's performance on a pro forma basis for historical periods. This information, presented in Exhibit 99.1, recalculates certain non-GAAP measures for Q1 and Q2 2019, and for the full year and quarters of 2018, as if the acquisition had occurred earlier. This offers a clearer view of the combined business's operational trends and financial health, especially valuable given the magnitude of the First Data acquisition. Investors are encouraged to review the detailed adjustments outlined in the notes to these supplemental schedules for a comprehensive understanding of the reported combined figures.

Key Highlights

  • 1Fiserv, Inc. officially completed the acquisition of First Data Corporation on July 29, 2019.
  • 2First Data's financial results are consolidated into Fiserv's reporting from the acquisition date onwards.
  • 3The company is providing supplemental financial information to present historical performance on a 'combined company' basis.
  • 4This supplemental data recalculates non-GAAP measures for Q1 2019, Q2 2019, and historical 2018 periods (quarters and full year).
  • 5The objective of the supplemental schedules is to offer a clearer perspective on the combined operational performance.
  • 6Detailed adjustments to the historical financial information of both Fiserv and First Data are explained in the notes to the supplemental schedules.

Frequently Asked Questions

The acquisition of First Data Corporation by Fiserv, Inc. was completed on July 29, 2019.

First Data's results of operations and financial position will be included in Fiserv's consolidated financial statements starting from July 29, 2019. This means that Fiserv's reported revenues, expenses, and overall financial standing will incorporate First Data's performance from that date.

The supplemental financial information aims to provide investors with a more comprehensive view of the combined company's operating performance. It presents historical financial data for Fiserv and First Data on a pro forma 'combined company' basis for prior periods, allowing for a better understanding of the business trends and financial health of the merged entity before and after the acquisition's effective date.

The detailed adjustments made to sum the historical financial information of Fiserv and First Data, and the recalculation of non-GAAP measures on a combined basis, are discussed in the notes accompanying the supplemental financial schedules presented in Exhibit 99.1 of this filing.