8-KEarnings & ResultsOther EventsExhibits & Filings

FISERV INC 8-K Report, Financial Results (Apr 1, 2020)

Filed April 1, 2020For Securities:FISV

Summary

Fiserv Inc. (FISV) announced a significant organizational change in its 8-K filing dated April 1, 2020, effective for the quarter ending March 31, 2020. The company is realigning its reportable segments to better reflect its post-acquisition operating model following the integration of First Data Corporation. This restructuring results in three primary reportable segments: Merchant Acceptance, Financial Technology, and Payments and Network. These new segments aim to align with the company's management structure and organizational responsibilities, providing a clearer view of its business operations. In conjunction with this segment realignment, Fiserv is also providing updated supplemental financial information. This information will allow investors to recalculate certain non-GAAP measures based on the new segment structure for historical periods in 2018 and 2019. This proactive measure is designed to ensure continuity and comparability for investors as the company transitions to its new reporting framework. Fiserv intends to formally report under these new segments in its upcoming Form 10-Q filing for the first quarter of 2020.

Key Highlights

  • 1Fiserv is realigning its reportable segments effective Q1 2020 to reflect its operating model post-First Data acquisition.
  • 2The three new reportable segments are: Merchant Acceptance, Financial Technology, and Payments and Network.
  • 3This realignment is driven by changes in management structure and organizational responsibilities.
  • 4The company is providing supplemental financial information to recalculate historical non-GAAP measures under the new segment structure for 2018 and 2019.
  • 5These adjustments will aid investors in analyzing historical performance under the new reporting framework.
  • 6Fiserv will formally adopt the new segment reporting in its Form 10-Q for the quarter ending March 31, 2020.
  • 7The 'Corporate and Other' segment will include unallocated corporate expenses and other activities not evaluated at the segment level.

Frequently Asked Questions

Fiserv is realigning its reportable segments to better align with its post-acquisition operating model and management structure, following the integration of First Data Corporation. This change aims to provide a clearer representation of the company's business operations and financial performance across its key areas.

The three new reportable segments are: Merchant Acceptance, Financial Technology, and Payments and Network. These segments encompass a broad range of products and services offered by Fiserv to merchants and financial institutions globally.

Yes, Fiserv is providing supplemental financial information that allows for the recalculation of certain non-GAAP measures under the new segment structure for historical periods in 2018 and 2019. The company will also adjust prior periods accordingly when reporting its Q1 2020 results.

Fiserv will begin reporting its financial results based on the new segment realignment with the filing of its Quarterly Report on Form 10-Q for the quarter ending March 31, 2020.