Fidelity National Information Services (FIS) 8-K Fidelity National Information Services, Inc. Reports First Quarter Earnings

EXHIBIT 99.1

Fidelity National Information Services, Inc. Reports First Quarter Earnings

Jacksonville, Fla. — April 26, 2006— Fidelity National Information Services, Inc. (NYSE:FIS), today reported its operating results for the first quarter of 2006. The merger between Fidelity National Information Services and Certegy Inc. was completed February 1, 2006. In accordance with Generally Accepted Accounting Principles (“GAAP”), Certegy’s operating results for January 2006 and the first quarter of 2005 are excluded from FIS’ reported GAAP earnings.

     FIS’ operating results for the first quarter of 2006 and the comparable 2005 period are presented on a GAAP and on a pro forma basis, which management believes provides more meaningful comparisons between the two periods. Reconciliations between the aforementioned GAAP and pro forma results are provided in the attachments to this press release, which is posted on the company’s website at http://www.fidelityinfoservices.com.

GAAP	1st Quarter 2006	1st Quarter 2005
Total revenue	$900.9 million	$651.6 million
Net Earnings	$39.4 million	$44.6 million
Net Earnings Per Diluted Share	$0.23	$0.35

     FIS’ results have been adjusted on a pro forma basis to reflect a January 1, 2005, effective date for the merger and the March 2005 recapitalization and sale of minority interests by FIS. Additionally, the pro forma results exclude merger related costs and the expense associated with the vesting of certain FIS performance based options issued in conjunction with the March 2005 recapitalization.

Pro Forma (see Appendix)	1st Quarter 2006	1st Quarter 2005	% Chg
Total Revenue	$993.9 million	$914.0 million		8.7	%
EBITDA	$244.6 million	$214.2 million		14.2	%
Pro Forma Net Earnings	$58.6 million	$41.1 million		42.6	%
Pro Forma Net Earnings Per Diluted Share	$0.30	$0.22		36.4	%
Cash Earnings	$86.9 million	$74.3 million		16.9	%
Cash Earnings Per Diluted Share	$0.45	$0.39		15.4	%

     “FIS generated excellent results in the first quarter, with revenue growth of 8.7% and EBITDA growth of 14.2%. This strong performance positions us solidly to achieve our full year objectives,” stated Chairman William P. Foley, II. “The merger integration effort is well under way, and we are beginning to realize tangible benefits from the combination.”

FIS presents its financial results in accordance with Generally Accepted Accounting Principles (“GAAP”). However, in order to provide the investment community with a more thorough means of evaluating the operating performance of its operations, FIS also reports several non-GAAP measures, including earnings before interest, taxes, depreciation and amortization (“EBITDA”), net earnings plus depreciation and amortization less capital expenditures (“Free Cash Flow”) and net earnings plus other intangible amortization, net of income tax (“Cash Earnings”). Any non-GAAP measures should be considered in context with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP net earnings.

Pro Forma Segment Information

     FIS’ Transaction Processing Services generated revenue of $592.5 million, or 5.8% over the prior-year period, driven by strong sales generated within the Integrated Financial Solutions product line. EBITDA increased 9.6% to $133.0 million.

     Lender Processing Services revenue increased 12.8% to $400.5 million, driven by market share gains, deeper penetration within its existing customer base and a 5.9% increase in the number of mortgage loans processed. EBITDA increased 9.8% to $134.2 million.

     Corporate expense for the first quarter of 2006 totaled $22.7 million. The $6.8 million, or 23.1%, decline from the prior-year quarter was primarily attributable to the consolidation of duplicate functions during the quarter. Interest expense for the quarter increased $6.6 million to $44.3 million, largely due to higher interest rates.

Outlook

     Management reiterated its pro forma earnings outlook for full year 2006, which excludes pre-tax merger and acquisition costs, pre-tax expense associated with performance based options, and approximately $0.06 per diluted share after-tax expense associated with the establishment of a previously announced joint venture in Brazil. This guidance is consistent with the guidance previously provided by the Company in a February 15, 2006, press release and Form 8-K filed with the Securities and Exchange Commission.

• Revenue growth of 4% to 6% over $3.9 billion combined revenue in 2005.

• EBITDA growth of 9% to 11% over $1.0 billion pro forma combined EBITDA in 2005.

• Pro forma full year 2006 earnings per diluted share of $1.50 to $1.55, compared to $1.28 pro forma earnings per diluted share in 2005.

• Pro forma cash earnings per diluted share of $2.11 to $2.17 compared to $1.92 pro forma cash earnings per diluted share in 2005.

• Free cash flow of approximately $475 million to $525 million.

     FIS will host a call with investors and analysts to discuss first quarter results on Thursday, April 27, 2006, beginning at 8:30 a.m. Eastern daylight time. Those wishing to participate via the webcast should access the call through FIS’ Investor Relations website at http://www.fidelityinfoservices.com. Those wishing to participate via the telephone may do so by calling 866-233-3843 (USA) or 612-332-0637 (International). The conference call replay will be available via webcast though FIS’ Investor Relations website. The telephone replay will be

available through May 4, 2006, by dialing 800-475-6701 (USA) or 320-365-3844 (International). The access code will be 825714.

About Fidelity National Information Services, Inc.

     Fidelity National Information Services, Inc. (NYSE:FIS) is a leading provider of core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products; and outsourcing services to financial institutions, retailers, mortgage lenders and real estate professionals. FIS has processing and technology relationships with 35 of the top 50 global banks, including nine of the top ten. Nearly 50 percent of all U.S. residential mortgages are processed using FIS software. Headquartered in Jacksonville, Florida, FIS maintains a strong global presence, serving over 7,800 financial institutions in more than 60 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.

     FIS is a majority-owned subsidiary of Fidelity National Financial Inc. (NYSE:FNF), number 248 on the Fortune 500 and a provider of outsourced products and services to a variety of industries. More information about FNF can be found at www.fnf.com.

Forward-Looking Statements

     This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; the risk that our recent merger with a subsidiary of Fidelity National Financial, Inc. may fail to achieve beneficial synergies or that it may take longer than expected to do so; the effects of our substantial leverage, which may limit the funds available to make acquisitions and invest in our business; the risks of reduction in revenue from the elimination of existing and potential customers due to consolidation in the banking, retail and financial services industries; failures to adapt our services to changes in technology or in the marketplace; adverse changes in the level of real estate activity, which would adversely affect certain of our businesses; our potential inability to find suitable acquisition candidates or difficulties in integrating acquisitions; significant competition that our operating subsidiaries face; and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.

SOURCE: Fidelity National Information Services, Inc.
CONTACT: Mary Waggoner, Senior Vice President, Investor Relations, 904-854-3282,
mary.waggoner@fnf.com

###

FIDELITY NATIONAL INFORMATION SERVICES, INC.
AND SUBSIDIARIES AND AFFILIATES
UNAUDITED CONSOLIDATED AND COMBINED RESULTS FOR THE THREE MONTHS ENDING MARCH 31, 2006 AND 2005
(In thousands)

	Three months ended March 31,
	2006			2005
Processing and services revenues	$	900,936		$	651,580
Cost of revenues		622,337			430,075
Selling, general, and administrative expenses		145,729			110,556
Research and development costs		28,060			23,936
Operating income		104,810			87,013
Other income (expense)
Interest income		1,891			2,762
Realized gains and losses		(2,110	)		(3,297	)
Interest expense		(43,268	)		(13,421	)
Total other income (expense)		(43,487	)		(13,956	)
Earnings before income taxes, equity earnings and minority interest		61,323			73,057
Income tax expense		23,487			28,054
Equity in earnings of unconsolidated entities		1,833			1,238
Minority interest		311			1,645
Net earnings	$	39,358		$	44,596
Net earnings per share-basic	$	0.23		$	0.35
Weighted average shares outstanding-basic		169,989			127,920
Net earnings per share-diluted	$	0.23		$	0.35
Weighted average shares outstanding-diluted		172,987			127,920

Appendix A- Historical Detail and Reconciliation of Non-GAAP Measures for Continuing Operations

NOTE: The Adjustments Column represents pro forma adjustments relating to the merger transaction between CEY and FIS, the recapitalization transaction at FIS in March 2005, and the purchase of the remaining minority interest in Kordoba in September 2005 to reflect such transactions as if they occurred January 1, 2005

EBITDA Detail

2006 Q1	FIS			CEY-Jan			ADJ			Pro Forma
Net Earnings	$	39,358		$	(42,523	)		(3,708	)	$	(6,873	)
+ Interest Expense		43,268			1,081			—			44,349
+ Minority Interest		311			—			—			311
+ Income Taxes		23,487			(26,396	)		(2,626	)		(5,535	)
+ Depreciation/Amort		96,795			4,274			6,856			107,925
- Interest Income		(1,891	)		—			—			(1,891	)
- Equity in (Earnings) Loss of Unconsolidated Entities, net of tax		(1,833	)		—						(1,833	)
- Other (Income) Expense		2,110			123						2,233
EBITDA	$	201,605		$	(63,441	)	$	522		$	138,686

EBITDA Margin

2006 Q1	FIS			CEY-Jan			ADJ		Pro Forma
EBITDA	$	201,605		$	(63,441	)	$	522	$	138,686
Revenue	$	900,936		$	92,915		$	—	$	993,851
EBITDA Margin		22.4	%		-68.3	%				14.0	%

EBIT Detail

2006 Q1	FIS			CEY-Jan			ADJ			Pro Forma
Net Earnings	$	39,358		$	(42,523	)	$	(3,708	)	$	(6,873	)
+ Interest Expense		43,268			1,081			—			44,349
+ Minority Interest		311			—			—			311
+ Income Taxes		23,487			(26,396	)		(2,626	)		(5,535	)
- Interest Income		(1,891	)		—			—			(1,891	)
- Equity in (Earnings) Loss of Unconsolidated Entities, net of tax		(1,833	)		—			—			(1,833	)
- Other (Income) Expense		2,110			123			—			2,233
EBIT	$	104,810		$	(67,715	)	$	(6,334	)	$	30,761

EBIT Margin

2006 Q1	FIS			CEY-Jan			ADJ			Pro Forma
EBIT	$	104,810		$	(67,715	)	$	(6,334	)	$	30,761
Revenue	$	900,936		$	92,915		$	—		$	993,851
EBIT Margin		11.6	%		-72.9	%					3.1	%

Adjusted Diluted EPS

2006 Q1	FIS		CEY-Jan			ADJ			Pro Forma
Net Earnings	$	39,358	$	(42,523	)	$	(3,708	)	$	(6,873	)
Adjusted EPS	$	0.23							$	(0.04	)
Diluted Shares Outstanding		172,987								195,111

Cash Earnings

2006 Q1	FIS		CEY-Jan			ADJ			Pro Forma
Net Earnings	$	39,358	$	(42,523	)	$	(3,708	)	$	(6,873	)
+ Tax Adjusted Purchase Price Amortization		24,520		233			3,524			28,277
Cash Earnings	$	63,878	$	(42,290	)	$	(184	)	$	21,404
Diluted Cash EPS	$	0.37							$	0.11
Diluted Shares Outstanding		172,987								195,111

Free Cash Flow

2006 Q1	FIS			CEY-Jan			ADJ			Pro Forma
Net Earnings	$	39,358		$	(42,523	)	$	(3,708	)		$	(6,873	)
+ Depreciation/Amort		96,795			4,274			6,856				107,925
- Capital Expenditures		(69,264	)		(5,200	)		—				(74,464	)
Free Cash Flow	$	66,889		$	(43,449	)	$	3,148			$	26,588

Continued on the following page

2005 Q1	FIS			CEY			ADJ			Pro Forma
Net Earnings	$	44,596		$	21,155		$	(24,665	)	$	41,086
+ Interest Expense		13,421			3,305			21,031			37,757
+ Minority Interest		1,645			—			(640	)		1,005
+ Income Taxes		28,054			12,757			(14,992	)		25,819
+ Depreciation/Amort		75,740			12,529			21,133			109,402
- Interest Income		(2,762	)		—			—			(2,762	)
- Equity in (Earnings) Loss of Non-Consolidated Entities, net of tax		(1,238	)		—			—			(1,238	)
- Other (Income) Expense		3,297			(165	)		—			3,132
EBITDA	$	162,753		$	49,581		$	1,867		$	214,201

2005 Q1	FIS			CEY			ADJ		Pro Forma
EBITDA	$	162,753		$	49,581		$	1,867	$	214,201
Revenue	$	651,580		$	262,458		$	—	$	914,038
EBITDA Margin		25.0	%		18.9	%				23.4	%

2005 Q1	FIS			CEY			ADJ			Pro Forma
Net Earnings	$	44,596		$	21,155		$	(24,665	)	$	41,086
+ Interest Expense		13,421			3,305			21,031			37,757
+ Minority Interest		1,645			—			(640	)		1,005
+ Income Taxes		28,054			12,757			(14,992	)		25,819
- Interest Income		(2,762	)		—			—			(2,762	)
- Equity in (Earnings) Loss of Non-Consolidated Entities, net of tax		(1,238	)		—			—			(1,238	)
- Other (Income) Expense		3,297			(165	)		—			3,132
EBIT	$	87,013		$	37,052		$	(19,266	)	$	104,799

2005 Q1	FIS			CEY			ADJ			Pro Forma
EBIT	$	87,013		$	37,052		$	(19,266	)	$	104,799
Revenue	$	651,580		$	262,458		$	—		$	914,038
EBIT Margin		13.4	%		14.1	%					11.5	%

2005 Q1	FIS		CEY		ADJ			Pro Forma
Net Earnings	$	44,596	$	21,155	$	(24,665	)	$	41,086
Adjusted EPS	$	0.35						$	0.22
Diluted Shares Outstanding		127,920							190,779

2005 Q1	FIS		CEY		ADJ			Pro Forma
Net Earnings	$	44,596	$	21,155	$	(24,665	)	$	41,086
+ Tax Adjusted Purchase Price Amortization		21,970		681		10,607			33,258
Cash Earnings	$	66,566	$	21,836	$	(14,058	)	$	74,344
Diluted Cash EPS	$	0.52						$	0.39
Diluted Shares Outstanding		127,920		—		—			190,779

2005 Q1	FIS			CEY			ADJ			Pro Forma
Net Earnings	$	44,596		$	21,155		$	(24,665	)	$	41,086
+ Depreciation/Amort		75,740			12,529			21,133			109,402
- Capital Expenditures		(42,012	)		(12,037	)		—			(54,049	)
Free Cash Flow	$	78,324		$	21,647		$	(3,532	)	$	96,439

Pro Forma Measures Excluding Selected Items

Pro Forma EBITDA	$	138,686
Merger and Acquisition Costs		81,751
Performance Based Stock Option Costs		24,130
Pro Forma EBITDA, excluding selected items	$	244,567
Pro Forma Net Earnings		(6,873	)
Merger and Acquisition Costs, net of tax		50,609
Performance Based Stock Option Costs, net of tax		14,888
Pro Forma Net Earnings, excluding selected items	$	58,624
Weighted Average Shares		172,987
Adjustment as if transaction took place 1/1/2005		22,124
Pro Forma Weighted Average Shares		195,111
Pro Forma Net Earnings per diluted share	$	(0.04	)
Merger and Acquisition Costs per share		0.26
Performance Based Stock Option Costs per share		0.08
Pro Forma Net Earnings per diluted share, excluding selected items	$	0.30
Pro Forma Cash Earnings		21,404
Merger and Acquisition Costs, net of tax		50,609
Performance Based Stock Option Costs, net of tax		14,888
Pro Forma Cash Earnings, excluding selected items	$	86,901
Pro Forma Weighted Average Shares		195,111
Pro Forma Cash Earnings per diluted share	$	0.11
Merger and Acquisition Costs per share		0.26
Performance Based Stock Option Costs per share		0.08
Pro Forma Cash Earnings per diluted share, excluding selected items	$	0.45
Pro Forma Free Cash Flow	$	26,588
Merger and Acquisition Costs, net of tax		50,609
Performance Based Stock Option Costs, net of tax		14,888
Pro Forma Free Cash Flow, excluding selected items	$	92,085

Appendix B
Unaudited Pro Forma Combined Statement of Continuing Operations
for the Quarter Ended March 31, 2006
(In thousands Except Per Share Data)

							Pro Forma									Purchase Price		Cash
	Certegy-Jan			FIS			Adjustments			Note			Pro Forma			Amortization		Earnings
Total revenue	$	92,915		$	900,936								$	993,851
Total cost of revenue		73,218			622,337			6,856			(1	)		702,411
Gross profit (loss)		19,697			278,599			(6,856	)					291,440
General and administrative		7,645			143,745			(522	)		(2	)		150,868
Research and development costs		—			28,060									28,060
Merger and Acquisition costs		79,767			1,984									81,751
Income (loss) from operations		(67,715	)		104,810			(6,334	)					30,761
Interest income (expense) and other		(1,204	)		(43,487	)		—						(44,691	)
Income from continuing operations before tax and min. int		(68,919	)		61,323			(6,334	)					(13,930	)
Provision for income tax		(26,396	)		23,487			(2,626	)		(4	)		(5,535	)
Income from continuing operations		(42,523	)		37,836			(3,708	)					(8,395	)
Equity in earnings (loss) of unconsolidated entities, net		—			1,833			—						1,833
Minority interests in earnings, net of tax		—			(311	)		—						(311	)
Net income	$	(42,523	)	$	39,358		$	(3,708	)				$	(6,873	)	$	28,277	$	21,404
Net income per share-basic	$	(0.68	)	$	0.23								$	(0.04	)			$	0.11
Pro forma Weighted average shares-basic		62,326			169,989									191,809					191,809
Net income per share-diluted	$	(0.67	)	$	0.23								$	(0.04	)			$	0.11
Pro forma Weighted average shares-diluted		63,796			172,987									195,111					195,111
Pro Forma Net Earnings													$	(6,873	)
Merger and Acquisition Costs, net of tax														50,609
Performance Based Stock Option Costs, net of tax														14,888
Pro Forma Net Earnings, excluding selected items													$	58,623

Appendix B
Unaudited Pro Forma Combined Statement of Continuing Operations

for the Quarter Ended March 31, 2005
(In thousands Except Per Share Data)

																												Tax Adjusted
							Pro Forma									Recapitalization			2005 FIS						Pro Forma,			Purchase Price
	Certegy			FIS			Adjustments			Note			Pro Forma			Adjustments			Acquisitions			Note			as adjusted			Amortization		Cash Earnings
Total revenue	$	262,458		$	651,580								$	914,038											$	914,038
Total cost of revenue		190,292			430,075			20,569			(1	)		640,678						564			(6	)		641,242
								(258	)		(2	)
Gross profit (loss)		72,166			221,505			(20,311	)					273,360			—			(564	)					272,796
General and administrative		34,814			110,556			(1,309	)		(2	)		144,061												144,061
Research and development costs		—			23,936									23,936						—						23,936
Merger and Acquisition costs		300			—			(300	)		(3	)		—						—						—
Income (loss) from operations		37,052			87,013			(18,702	)					105,363			—			(564	)					104,799
Interest income (expense) and other		(3,140	)		(13,956	)		—						(17,096	)		(21,031	) (5)								(38,127	)
Income from continuing operations before tax and min. int		33,912			73,057			(18,702	)					88,267			(21,031	)		(564	)					66,672
Provision for income tax		12,757			28,054			(6,958	)		(4	)		33,853			(7,824	)		(210	)					25,819
Income from continuing operations		21,155			45,003			(11,744	)					54,414			(13,207	)		(354	)					40,853
Equity in earnings (loss) of unconsolidated entities, net		—			1,238			—						1,238			—			—						1,238
Minority interests in earnings, net of tax		—			(1,645	)		—						(1,645	)					640						(1,005	)
Net income	$	21,155		$	44,596		$	(11,744	)				$	54,007		$	(13,207	)	$	286					$	41,086		$	33,258	$	74,344
Net income per share-basic	$	0.34		$	0.35								$	0.28											$	0.22				$	0.39
Pro forma Weighted average shares-basic		61,794			127,920									189,714												189,714					189,714
Net income per share-diluted	$	0.34		$	0.35								$	0.28											$	0.22				$	0.39
Pro forma Weighted average shares-diluted		62,859			127,920									190,779												190,779					190,779

for the Quarter Ended June 30, 2005
(In thousands Except Per Share Data)

																											Tax Adjusted
							Pro Forma									Recapitalization		2005 FIS						Pro Forma,			Purchase Price
	Certegy			FIS			Adjustments			Note			Pro Forma			Adjustments		Acquisitions			Note			as adjusted			Amortization		Cash Earnings
Total revenue	$	276,023		$	708,713		$	—					$	984,736		$	—							$	984,736
Total cost of revenue		196,466			453,504			20,570			(1	)		670,278			—		563			(6	)		670,841
		—			—			(262	)		(2	)
Gross profit (loss)		79,557			255,209			(20,308	)					314,458			—		(563	)					313,895
General and administrative		35,188			109,318			(1,310	)		(2	)		143,196			—								143,196
Research and development costs		—			28,303									28,303					—						28,303
Merger and Acquisition Costs		992			—			(992	)		(3	)		—			—		—						—
Income (loss) from operations		43,377			117,588			(18,006	)					142,959			—		(563	)					142,396
Interest income (expense) and other		(2,674	)		(38,038	)		—						(40,712	)		—								(40,712	)
Income from continuing operations before tax and min. int		40,703			79,550			(18,006	)					102,247			—		(563	)					101,684
Provision for income tax		15,312			30,609			(6,698	)		(4	)		39,223			—		(209	)					39,014
Income from continuing operations		25,391			48,941			(11,308	)					63,024			—		(354	)					62,670
Equity in earnings (loss) of unconsolidated entities, net		—			2,244			—						2,244			—		—						2,244
Minority interests in earnings, net of tax		—			(2,609	)		—						(2,609	)		—		988						(1,621	)
Net income	$	25,391		$	48,576		$	(11,308	)				$	62,659		$	—	$	634					$	63,293		$	32,232	$	95,525
Net income per share-basic	$	0.41		$	0.38								$	0.33										$	0.33				$	0.50
Pro forma Weighted average shares-basic		61,899			127,920									189,819											189,819					189,819
Net income per share-diluted	$	0.40		$	0.38								$	0.33										$	0.33				$	0.50
Pro forma Weighted average shares-diluted		63,029			127,920									190,949											190,949					190,949

Appendix B
Unaudited Pro Forma Combined Statement of Continuing Operations

for the Quarter Ended September 30, 2005
(In thousands Except Per Share Data)

																											Tax Adjusted
							Pro Forma									Recapitalization		2005 FIS						Pro Forma,			Purchase Price
	Certegy			FIS			Adjustments			Note			Pro Forma			Adjustments		Acquisitions			Note			as adjusted			Amortization		Cash Earnings
Total revenue	$	282,774		$	698,109		$	—					$	980,883		$	—							$	980,883
Total cost of revenue		201,997			447,794			20,570			(1	)		670,099			—		563			(6	)		670,662
		—			—			(262	)		(2	)
Gross profit (loss)		80,777			250,315			(20,308	)					310,784			—		(563	)					310,221
General and administrative		30,749			93,047			(1,310	)		(2	)		122,486			—								122,486
Research and development costs		—			33,545									33,545					—						33,545
Merger and Acquisition Costs		7,010			—			(7,010	)		(3	)		—			—		—						—
Income (loss) from operations		43,018			123,723			(11,988	)					154,753			—		(563	)					154,190
Interest income (expense) and other		(2,451	)		(34,937	)		—						(37,388	)		—								(37,388	)
Income from continuing operations before tax and min. int		40,567			88,786			(11,988	)					117,365			—		(563	)					116,802
Provision for income tax		17,900			31,112			(4,460	)		(4	)		44,552			—		(209	)					44,343
Income from continuing operations		22,667			57,674			(7,528	)					72,813			—		(354	)					72,459
Equity in earnings (loss) of unconsolidated entities, net		—			2,135			—						2,135			—		—						2,135
Minority interests in earnings, net of tax		—			(1,917	)		—						(1,917	)		—		740						(1,177	)
Net income	$	22,667		$	57,892		$	(7,528	)				$	73,031		$	—	$	386					$	73,417		$	29,227	$	102,644
Net income per share-basic	$	0.37		$	0.45								$	0.38										$	0.39				$	0.54
Pro forma Weighted average shares-basic		62,017			127,920									189,937											189,937					189,937
Net income per share-diluted	$	0.36		$	0.45								$	0.38										$	0.38				$	0.54
Pro forma Weighted average shares-diluted		63,313			127,920									191,233											191,233					191,233

for the Quarter Ended December 31, 2005
(In thousands Except Per Share Data)

																								Tax Adjusted
							Pro Forma									Recapitalization		2005 FIS			Pro Forma,			Purchase Price
	Certegy			FIS			Adjustments			Note			Pro Forma			Adjustments		Acquisitions		Note	as adjusted			Amortization		Cash Earnings
Total revenue	$	295,886		$	707,683		$	—					$	1,003,569		$	—				$	1,003,569
Total cost of revenue		202,826			461,912			20,570			(1	)		685,046			—					685,046
		—			—			(262	)		(2	)
Gross profit (loss)		93,060			245,771			(20,308	)					318,523			—		—			318,523
General and administrative		28,692			109,702			(1,310	)		(2	)		137,084			—					137,084
Research and development costs		—			27,714									27,714					—			27,714
Merger and Acquisition Costs		2,860			—			(2,860	)		(3	)		—			—		—			—
Income (loss) from operations		61,508			108,355			(16,138	)					153,725			—		—			153,725
Interest income (expense) and other		(2,132	)		(39,701	)		—						(41,833	)		—					(41,833	)
Income from continuing operations before tax and min. int		59,376			68,654			(16,138	)					111,892			—		—			111,892
Provision for income tax		22,958			25,539			(6,003	)		(4	)		42,494			—		—			42,494
Income from continuing operations		36,418			43,115			(10,135	)					69,398			—		—			69,398
Equity in earnings (loss) of unconsolidated entities, net		(117	)		650			—						533			—		—			533
Minority interests in earnings, net of tax		—			1,721			—						1,721			—		—			1,721
Net income	$	36,301		$	45,486		$	(10,135	)				$	71,652		$	—	$	—		$	71,652		$	29,162	$	100,814
Net income per share-basic	$	0.58		$	0.36								$	0.38							$	0.38				$	0.53
Pro forma Weighted average shares-basic		62,326			127,920									190,246								190,246					190,246
Net income per share-diluted	$	0.57		$	0.35								$	0.37							$	0.37				$	0.52
Pro forma Weighted average shares-diluted		63,796			129,657									193,453								193,453					193,453

Appendix B

Notes to Unaudited Pro Forma Combined Statements of Continuing Operations for the four quarters of the year ended December 31, 2005 and the quarter ended March 31, 2006

     These combined statements of continuing operations include the historical statements of continuing operations of Certegy and FIS as though the merger had occurred on January 1, 2005, adjusted for items related to the transaction as described below:

(1)	Reflects the increase in amortization expense as a result of allocating an assumed portion of the merger consideration to intangible assets of Certegy, namely customer relationship intangibles and acquired software, and amortizing such intangibles over their estimated useful lives commencing as of the assumed acquisition date, offset by the amortization expense for such intangibles actually recorded by Certegy during the respective periods. Customer relationships are being amortized over 10 years on an accelerated method. Acquired computer software is being amortized over its estimated useful life of up to 10 years on an accelerated method. The acquired trademarks are considered to have indefinite useful lives and, therefore, are not reflected in these adjustments. The increase in amortization expense is $111.7 million offset by historical amortization of $29.4 million, or $82.3 million for the year ended December 31, 2005 and is allocated straight-line over the four quarters as presented and for January 2006 prior to the merger.
(2)	Under the merger agreement, all Certegy stock options and restricted stock and restricted stock units will vest upon the closing of the merger. Accordingly, this adjustment reflects the elimination of historical stock compensation expense relating to the vesting of Certegy options in 2005, because such expense will be reflected at the time of closing of the merger. This adjustment amounts to a reduction in cost of revenues of $1.0 million and in selling, general and administrative costs of $11.2 million for the year ended December 31, 2005 and is allocated straight line over the four quarters presented and for the January 2006 period prior to the merger. Also, at closing, Certegy will grant approximately (1) 1.1 million options, which based on current assumptions, would have a fair value under SFAS No. 123R of approximately $11 per option, vesting over four years, and (2) 750,000 options, which based on current assumptions would have a fair value under SFAS No. 123R of approximately $12 per option, vesting over three years. The pro forma adjustment to increase stock compensation expense for these option grants is $5.9 million in 2005, all of which is reflected in selling, general and administrative costs and allocated straight line over the four quarters presented.
(3)	Reflects the removal of merger and acquisition costs that were recognized as expense by Certegy in 2005.
(4)	Reflects the tax benefit relating to the pro forma adjustments at the FIS tax rate of approximately 37.2% for the year ended December 31, 2005.
(5)	Reflects an increase in interest expense for the year ended December 31, 2005 of $21.0 million, as if the recapitalization completed on March 9, 2005 was completed on January 1, 2005.
(6)	This column represents the adjustments to purchase amortization and minority interest expense relating to the September 30, 2005 acquisition of the remaining 25.1% interest in Kordoba that FIS did not already own as if that acquisition occurred on January 1, 2005.

Appendix C

Unaudited Pro Forma and Historical Segment Information

for the Quarters Ended March 31, 2006 and 2005

(In thousands Except Per Share Data)

2006 - Quarter 1	Pro Forma									Historical
	Transaction		Lender							Transaction		Lender
	Processing		Processing		Corporate and					Processing		Processing		Corporate and
	Services		Services		Other			Total		Services		Services		Other			Total
Processing and services revenue		592,511		400,500		840			993,851		501,548		400,500		(1,112	)		900,936
Cost of revenues		467,890		234,521		—			702,411		387,816		234,521		—			622,337
Gross profit		124,621		165,979		840			291,440		113,732		165,979		(1,112	)		278,599
Selling, general and admin costs		43,926		59,063		129,630			232,619		39,516		59,063		47,150			145,729
Research development costs		19,077		8,983		—			28,060		19,077		8,983		—			28,060
Operating income		61,618		97,933		(128,790	)		30,761		55,139		97,933		(48,262	)		104,810
Depreciation and amortization		70,634		36,120		1,171			107,925		59,594		36,120		1,081			96,795
EBITDA		132,252		134,053		(127,619	)		138,686		114,733		134,053		(47,181	)		201,605
ProForma EBITDA		132,252		134,053		(127,619	)		138,686
Merger and Acquisition costs		753		170		80,828			81,751
Acceleration of performance-based shares		—		—		24,130			24,130
ProForma EBITDA, excluding selected items		133,005		134,223		(22,661	)		244,567

2005 - Quarter 1	Pro Forma									Historical
	Transaction		Lender							Transaction		Lender
	Processing		Processing		Corporate and					Processing		Processing		Corporate and
	Services		Services		Other			Total		Services		Services		Other			Total
Processing and services revenue		560,284		354,867		(1,113	)		914,038		297,826		354,867		(1,113	)		651,580
Cost of revenues		437,462		203,780		—			641,242		226,295		203,780		—			430,075
Gross profit		122,822		151,087		(1,113	)		272,796		71,531		151,087		(1,113	)		221,505
Selling, general and admin costs		52,334		62,821		28,906			144,061		28,506		62,821		19,229			110,556
Research development costs		19,461		4,475		—			23,936		19,461		4,475		—			23,936
Operating income		51,027		83,791		(30,019	)		104,799		23,564		83,791		(20,342	)		87,013
Depreciation and amortization		70,375		38,502		525			109,402		37,039		38,502		199			75,740
EBITDA		121,402		122,293		(29,494	)		214,201		60,603		122,293		(20,143	)		162,753