EXHIBIT 99.1
Fidelity National Information Services, Inc.
Supplemental Financial Schedules
August 1, 2008
On July 2, 2008, FIS completed the spin-off of Lender Processing Services, Inc. (“LPS”). Since the Completion of the spin-off occurred subsequent to the reporting period ended June 30, 2008, generally accepted accounting principles do not allow presentation of LPS as a discontinued operation in our periodic filings until FIS presents operating results for the three and nine-month periods ended September 30, 2008.
Because of these requirements and desire to furnish additional information to investors to improve the understanding of the Company’s operating performance, management is separately furnishing information which reflects the operations of LPS as a discontinued operation.
The purpose of the attached schedules is to recast the 2007 results by quarter and on an annual basis along with the first quarter of 2008 in a manner consistent with how FIS will report results beginning in the third quarter of 2008. These schedules report the operating results of LPS, and other smaller operations, which we have exited as discontinued operations. Revenues and expenses associated with LPS and other disposed entities are presented as discontinued operations in the consolidated statements of earnings. Discontinued operations are reflected separately, net of tax, below net earnings from continuing operations.
Exhibit Listing
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Exhibit A. | | FIS Supplemental Financial Information-Unaudited for the Full Year 2007 and the Quarters Ended March 31, June 30, September 30 and December 31, 2007 and March 31, 2008 |
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Exhibit B. | | FIS Supplemental Non-GAAP Financial Information-Unaudited for the Full Year 2007 and the Quarters Ended March 31, June 30, September 30 and December 31, 2007 and March 31, 2008 |
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Exhibit C. | | FIS Recast Consolidated Income Statements-Unaudited for the Full Year 2007 and the Quarters Ended March 31, June 30, September 30 and December 31, 2007 and March 31, 2008, presenting LPS as a discontinued operation |
Exhibit A
FIDELITY NATIONAL INFORMATION SERVICES, INC.
SUPPLEMENTAL FINANCIAL INFORMATION — UNAUDITED
(In thousands, except per share data)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | Full Year | |
| | 3/31/2008 | | | 12/31/2007 | | | 9/30/2007 | | | 6/30/2007 | | | 3/31/2007 | | | 2007 | |
1. Income Statement-GAAP Presentation Post-Spin | | | | | | | | | | | | | | | | | | | | | | | | |
Processing and services revenues | | $ | 838,223 | | | $ | 864,415 | | | $ | 712,812 | | | $ | 701,630 | | | $ | 671,252 | | | $ | 2,950,109 | |
Cost of revenues | | | 648,268 | | | | 652,698 | | | | 562,998 | | | | 540,269 | | | | 521,196 | | | | 2,277,161 | |
| | | | | | | | | | | | | | | | | | |
Gross profit | | | 189,955 | | | | 211,717 | | | | 149,814 | | | | 161,361 | | | | 150,056 | | | | 672,948 | |
Selling, general and administrative | | | 116,192 | | | | 86,276 | | | | 72,387 | | | | 74,668 | | | | 69,557 | | | | 302,888 | |
Research and development costs | | | 18,283 | | | | 20,376 | | | | 17,579 | | | | 14,905 | | | | 17,518 | | | | 70,378 | |
| | | | | | | | | | | | | | | | | | |
Operating Income | | | 55,480 | | | | 105,065 | | | | 59,848 | | | | 71,788 | | | | 62,981 | | | | 299,682 | |
Interest income | | | 2,758 | | | | 1,942 | | | | 719 | | | | 165 | | | | 209 | | | | 3,035 | |
Interest expense | | | (39,577 | ) | | | (40,370 | ) | | | (37,856 | ) | | | (42,934 | ) | | | (72,073 | ) | | | (193,233 | ) |
Gain on sale of Covansys stock | | | — | | | | — | | | | 182,444 | | | | 92,044 | | | | — | | | | 274,488 | |
Other income | | | (441 | ) | | | 10,979 | | | | 3,327 | | | | 1,336 | | | | 92 | | | | 15,734 | |
| | | | | | | | | | | | | | | | | | |
Earnings from continuing operations before tax and minority interest | | | 18,220 | | | | 77,616 | | | | 208,482 | | | | 122,399 | | | | (8,791 | ) | | | 399,706 | |
Provision for income tax | | | 4,608 | | | | 27,082 | | | | 75,238 | | | | 43,284 | | | | (4,720 | ) | | | 140,884 | |
| | | | | | | | | | | | | | | | | | |
Earnings before equity in earnings (losses) and minority interest | | | 13,612 | | | | 50,534 | | | | 133,244 | | | | 79,115 | | | | (4,071 | ) | | | 258,822 | |
Equity in earnings (losses) of unconsolidated entities, net | | | — | | | | 1 | | | | 86 | | | | 1,330 | | | | 1,408 | | | | 2,825 | |
Minority interest expense (income), net of tax | | | (190 | ) | | | 319 | | | | (41 | ) | | | 11 | | | | (339 | ) | | | (50 | ) |
| | | | | | | | | | | | | | | | | | |
Net earnings from continuing operations | | | 13,802 | | | | 50,216 | | | | 133,371 | | | | 80,434 | | | | (2,324 | ) | | | 261,697 | |
Earnings from discontinued operations | | | 56,698 | | | | 58,195 | | | | 111,933 | | | | 67,570 | | | | 61,827 | | | | 299,525 | |
| | | | | | | | | | | | | | | | | | |
Net earnings | | | 70,500 | | | | 108,411 | | | | 245,304 | | | | 148,004 | | | | 59,503 | | | | 561,222 | |
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| | | | | | | | | | | | | | | | | | | | | | | | |
Net Earnings from Continuing Operations Per Share — Diluted | | $ | 0.07 | | | $ | 0.26 | | | $ | 0.68 | | | $ | 0.41 | | | $ | (0.01 | ) | | $ | 1.33 | |
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Exhibit A
FIDELITY NATIONAL INFORMATION SERVICES, INC.
SUPPLEMENTAL FINANCIAL INFORMATION — UNAUDITED
(In thousands, except per share data)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | FullYear | |
| | 3/31/2008 | | | 12/31/2007 | | | 9/30/2007 | | | 6/30/2007 | | | 3/31/2007 | | | 2007 | |
2. Revenues | | | | | | | | | | | | | | | | | | | | | | | | |
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Revenue from Continuing Operations: | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
TPS | | | | | | | | | | | | | | | | | | | | | | | | |
Integrated Financial Solutions | | $ | 368,585 | | | $ | 364,612 | | | $ | 308,803 | | | $ | 297,117 | | | $ | 283,753 | | | $ | 1,254,285 | |
Enterprise Solutions | | | 280,544 | | | | 289,492 | | | | 241,395 | | | | 245,174 | | | | 234,560 | | | | 1,010,621 | |
International | | | 178,109 | | | | 199,811 | | | | 147,242 | | | | 143,293 | | | | 138,185 | | | | 628,531 | |
Other | | | (439 | ) | | | (1,657 | ) | | | (1,789 | ) | | | (773 | ) | | | (548 | ) | | | (4,767 | ) |
| | | | | | | | | | | | | | | | | | |
Total TPS Revenue | | | 826,799 | | | | 852,258 | | | | 695,651 | | | | 684,811 | | | | 655,950 | | | | 2,888,670 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Corporate | | | 11,424 | | | | 12,157 | | | | 17,161 | | | | 16,819 | | | | 15,302 | | | | 61,439 | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total Revenue from Continuing Operations | | | 838,223 | | | | 864,415 | | | | 712,812 | | | | 701,630 | | | | 671,252 | | | | 2,950,109 | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total Revenue from Discontinued Operations | | $ | 482,449 | | | $ | 465,998 | | | $ | 467,086 | | | $ | 474,608 | | | $ | 452,814 | | | $ | 1,860,507 | |
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| | | | | | | | | | | | | | | | | | | | | | | | |
Revenue Growth from Prior Year Period (A) | | | | | | | | | | | | | | | | | | | | | | | | |
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TPS | | | | | | | | | | | | | | | | | | | | | | | | |
Integrated Financial Solutions | | | 29.9 | % | | | 28.7 | % | | | 11.6 | % | | | 9.1 | % | | | 5.1 | % | | | 13.8 | % |
Enterprise Solutions | | | 19.6 | % | | | 15.9 | % | | | 3.1 | % | | | 10.8 | % | | | 7.6 | % | | | 9.5 | % |
International | | | 28.9 | % | | | 41.7 | % | | | 23.9 | % | | | 44.3 | % | | | 58.4 | % | | | 40.8 | % |
Other | | | 19.9 | % | | | 14.1 | % | | | 33.6 | % | | | 73.2 | % | | | 83.9 | % | | | 56.3 | % |
| | | | | | | | | | | | | | | | | | |
Total TPS Revenue Growth | | | 26.0 | % | | | 26.8 | % | | | 11.0 | % | | | 16.1 | % | | | 14.7 | % | | | 17.4 | % |
| | | | | | | | | | | | | | | | | | | | | | | | |
Corporate | | | -25.3 | % | | | -14.3 | % | | | 8.1 | % | | | -16.7 | % | | | -18.6 | % | | | -11.0 | % |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
Total Revenue from Continuing Operations | | | 24.9 | % | | | 26.1 | % | | | 11.3 | % | | | 14.9 | % | | | 14.2 | % | | | 16.7 | % |
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3. TPS Revenue from Continuing Operations, Excluding eFunds | | | | | | | | | | | | | | | | | | | | | | | | |
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TPS | | | | | | | | | | | | | | | | | | | | | | | | |
Integrated Financial Solutions | | $ | 297,566 | | | $ | 297,912 | | | $ | 296,142 | | | $ | 297,117 | | | $ | 283,753 | | | $ | 1,174,924 | |
Enterprise Solutions | | | 226,605 | | | | 244,121 | | | | 231,613 | | | | 245,174 | | | | 234,560 | | | | 955,468 | |
International | | | 161,742 | | | | 170,782 | | | | 142,057 | | | | 143,293 | | | | 138,185 | | | | 594,317 | |
Other | | | (423 | ) | | | (515 | ) | | | (789 | ) | | | (773 | ) | | | (548 | ) | | | (2,625 | ) |
| | | | | | | | | | | | | | | | | | |
Total TPS Revenue, excluding eFunds | | $ | 685,489 | | | $ | 712,300 | | | $ | 669,023 | | | $ | 684,811 | | | $ | 655,950 | | | $ | 2,722,083 | |
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| | | | | | | | | | | | | | | | | | | | | | | | |
TPS Revenue Growth from Prior Year Period, excluding eFunds (A) | | | | | | | | | | | | | | | | | | | | | | | | |
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TPS | | | | | | | | | | | | | | | | | | | | | | | | |
Integrated Financial Solutions | | | 4.9 | % | | | 5.2 | % | | | 7.0 | % | | | 9.1 | % | | | 5.1 | % | | | 6.6 | % |
Enterprise Solutions | | | -3.4 | % | | | -2.3 | % | | | -1.0 | % | | | 10.8 | % | | | 7.6 | % | | | 3.5 | % |
International | | | 17.0 | % | | | 21.2 | % | | | 19.5 | % | | | 44.3 | % | | | 58.4 | % | | | 33.2 | % |
Other | | | 22.7 | % | | | 73.3 | % | | | 70.7 | % | | | 73.2 | % | | | 83.9 | % | | | 75.9 | % |
| | | | | | | | | | | | | | | | | | |
Total TPS Revenue Growth, excluding Efunds | | | 4.5 | % | | | 6.0 | % | | | 6.7 | % | | | 16.1 | % | | | 14.7 | % | | | 10.6 | % |
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|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | FullYear | |
| | 3/31/2008 | | | 12/31/2007 | | | 9/30/2007 | | | 6/30/2007 | | | 3/31/2007 | | | 2007 | |
4. Depreciation and Amortization | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Depreciation and Amortization | | $ | 68,711 | | | $ | 79,171 | | | $ | 83,653 | | | $ | 68,027 | | | $ | 62,563 | | | $ | 293,414 | |
Purchase Price Amortization | | | 46,560 | | | | 49,385 | | | | 40,599 | | | | 37,897 | | | | 40,780 | | | | 168,661 | |
Other Amortization | | | 8,861 | | | | 9,347 | | | | 10,187 | | | | 7,968 | | | | 7,269 | | | | 34,771 | |
| | | | | | | | | | | | | | | | | | |
Total Depreciation and Amortization | | $ | 124,132 | | | $ | 137,903 | | | $ | 134,439 | | | $ | 113,892 | | | $ | 110,612 | | | $ | 496,846 | |
| | | | | | | | | | | | | | | | | | |
|
Depreciation and Amortization Related to Non-recurring Adjustments | | $ | — | | | $ | — | | | $ | 13,531 | | | $ | 393 | | | $ | 683 | | | $ | 14,608 | |
Depreciation and Amortization from Discontinued Operations | | | 20,740 | | | | 24,659 | | | | 25,693 | | | | 26,491 | | | | 26,557 | | | | 103,400 | |
| | | | | | | | | | | | | | | | | | |
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Total Depreciation and Amortization from Continuing Operations, as adjusted | | $ | 103,392 | | | $ | 113,244 | | | $ | 95,215 | | | $ | 87,008 | | | $ | 83,372 | | | $ | 378,838 | |
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5. Capital Expenditures | | | | | | | | | | | | | | | | | | | | | | | | |
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Total Capital Expenditures — Continuing Operations | | $ | 78,249 | | | $ | 67,223 | | | $ | 73,653 | | | $ | 65,642 | | | $ | 59,796 | | | $ | 266,314 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total Capital Expenditures — Discontinued Operations | | | 11,299 | | | | 31,405 | | | | 17,008 | | | | 14,252 | | | | 14,320 | | | | 76,985 | |
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| | | | | | | | | | | | | | | | | | |
Total Capital Expenditures | | $ | 89,548 | | | $ | 98,628 | | | $ | 90,661 | | | $ | 79,894 | | | $ | 74,116 | | | $ | 343,299 | |
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6. Stock Compensation | | | | | | | | | | | | | | | | | | | | | | | | |
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Stock Compensation, Excluding Acceleration Charges | | $ | 12,184 | | | $ | 10,170 | | | $ | 9,287 | | | $ | 8,751 | | | $ | 8,489 | | | $ | 36,697 | |
Stock Compensation Acceleration Charges | | | 14,194 | | | | 1,653 | | | | 603 | | | | — | | | | — | | | | 2,256 | |
| | | | | | | | | | | | | | | | | | |
Total Stock Compensation | | $ | 26,378 | | | $ | 11,823 | | | $ | 9,890 | | | $ | 8,751 | | | $ | 8,489 | | | $ | 38,953 | |
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| | | | | | | | | | | | | | | | | | | | | | | | |
Stock Compensation Related to Discontinued Operations | | | 4,687 | | | | 3,213 | | | | 3,630 | | | | 3,645 | | | | 3,570 | | | | 14,057 | |
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Stock Compensation from Continuing Operations | | $ | 21,691 | | | $ | 8,610 | | | $ | 6,260 | | | $ | 5,106 | | | $ | 4,919 | | | $ | 24,896 | |
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Notes: | | |
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(A)Growth calculation for 3/31/2007 includes Certegy revenue for January 2006. |
Exhibit B
FIDELITY NATIONAL INFORMATION SERVICES, INC.
NON-GAAP FINANCIAL INFORMATION — UNAUDITED
(In thousands, except per share data)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | Full Year | |
| | 3/31/2008 | | | 12/31/2007 | | | 9/30/2007 | | | 6/30/2007 | | | 3/31/2007 | | | 2007 | |
1. EBIT and EBITDA — Consolidated | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Revenue from Continuing Operations | | $ | 838,223 | | | $ | 864,415 | | | $ | 712,812 | | | $ | 701,630 | | | $ | 671,252 | | | $ | 2,950,109 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating Income from Continuing Operations | | $ | 55,480 | | | | 105,065 | | | | 59,848 | | | | 71,788 | | | | 62,981 | | | | 299,682 | |
M&A, Restructuring and Integration Costs | | | 14,970 | | | | 1,653 | | | | 19,455 | | | | 2,195 | | | | 4,961 | | | | 28,264 | |
LPS Spin Costs | | | 2,858 | | | | 500 | | | | — | | | | — | | | | — | | | | 500 | |
| | | | | | | | | | | | | | | | | | |
EBIT, as adjusted | | $ | 73,308 | | | | 107,218 | | | | 79,303 | | | | 73,983 | | | | 67,942 | | | | 328,446 | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Depr and Amort from Cont Ops, as adjusted | | | 103,392 | | | | 113,244 | | | | 95,215 | | | | 87,008 | | | | 83,372 | | | | 378,839 | |
| | | | | | | | | | | | | | | | | | |
EBITDA , as adjusted | | $ | 176,700 | | | | 220,462 | | | | 174,518 | | | | 160,991 | | | | 151,314 | | | | 707,285 | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
EBIT Margin, as adjusted | | | 8.7 | % | | | 12.4 | % | | | 11.1 | % | | | 10.5 | % | | | 10.1 | % | | | 11.1 | % |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
EBITDA Margin, as adjusted | | | 21.1 | % | | | 25.5 | % | | | 24.5 | % | | | 22.9 | % | | | 22.5 | % | | | 24.0 | % |
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| | | | | | | | | | | | | | | | | | | | | | | | |
2. Net Earnings — Reconciliation | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net Earnings from Continuing Operations | | $ | 13,802 | | | | 50,216 | | | | 133,371 | | | | 80,434 | | | | (2,324 | ) | | | 261,697 | |
M&A, Restructuring and Integration Costs, net of tax | | | 9,491 | | | | (6,560 | ) | | | 10,505 | | | | 1,385 | | | | 3,116 | | | | 8,446 | |
LPS Spin Costs, net of tax | | | 1,812 | | | | 315 | | | | — | | | | — | | | | — | | | | 315 | |
Covansys Gain, net of tax | | | — | | | | — | | | | (114,939 | ) | | | (57,988 | ) | | | — | | | | (172,927 | ) |
Debt Restructure Charge, net of tax | | | — | | | | — | | | | — | | | | — | | | | 17,059 | | | | 17,059 | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net Earnings from Continuing Operations, Excluding Certain Items | | | 25,105 | | | | 43,971 | | | | 28,937 | | | | 23,831 | | | | 17,851 | | | | 114,590 | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
After-tax Purchase Price Amortization | | | 23,582 | | | | 24,107 | | | | 19,038 | | | | 17,578 | | | | 18,885 | | | | 79,608 | |
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| | | | | | | | | | | | | | | | | | |
Adjusted Net Earnings from Continuing Operations | | $ | 48,687 | | | | 68,078 | | | | 47,975 | | | | 41,409 | | | | 36,736 | | | | 194,198 | |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net Earnings from Continuing Operations Per Share, excluding other items | | $ | 0.13 | | | | 0.22 | | | | 0.15 | | | | 0.12 | | | | 0.09 | | | | 0.58 | |
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| | | | | | | | | | | | | | | | | | | | | | | | |
Adjusted Net Earnings Per Share | | $ | 0.25 | | | | 0.35 | | | | 0.24 | | | | 0.21 | | | | 0.19 | | | | 0.99 | |
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| | | | | | | | | | | | | | | | | | | | | | | | |
Diluted Weighted Average Shares | | | 196,537 | | | | 196,741 | | | | 196,649 | | | | 196,977 | | | | 195,807 | | | | 196,546 | |
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| | | | | | | | | | | | | | | | | | | | | | Full Year | |
| | | | | 12/31/2007 | | | 9/30/2007 | | | 6/30/2007 | | | 3/31/2007 | | | 2007 | |
3. Adjusted Net Earnings — Reconciliation to Investor Day Package | | | | | | | | | | | | | | | | | | | | | | | | |
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Adjusted Net Earnings Per Share | | | | | | $ | 0.35 | | | | 0.24 | | | | 0.21 | | | | 0.19 | | | | 0.99 | |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change to allocation of Corporate costs (A) | | | | | | | 0.02 | | | | 0.02 | | | | 0.02 | | | | 0.01 | | | | 0.07 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Change to allocation of Interest expense (A) | | | | | | | — | | | | 0.05 | | | | 0.06 | | | | 0.06 | | | | 0.17 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Adjusted Net Earnings Per Share from Investor Day Package | | | | | | $ | 0.37 | | | | 0.31 | | | | 0.29 | | | | 0.26 | | | | 1.23 | |
| | | | | | | | | | | | | | | | | | | |
| | |
(A) | | Changes represent the difference between the assumptions included in investor day package compared to the required discontinued operations presentation. |
Exhibit C
Fidelity National Information Services
2008 Recast Income Statements
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Q/E 3/31/08 (A) | | | Discontinued Operations | | | Q/E 3/31/08 Recast (C) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate & | | | | |
Three Months Ended March 31, 2008 | | TPS | | | LPS | | | Corporate | | | FIS | | | LPS (B) | | | Disc Ops | | | TPS | | | Other | | | FIS | |
| | | | |
Processing and services revenues | | $ | 826,799 | | | $ | 464,113 | | | $ | 40 | | | $ | 1,290,952 | | | $ | 452,729 | | | $ | 452,729 | | | $ | 826,799 | | | $ | 11,424 | | | $ | 838,223 | |
Cost of revenues | | | 634,264 | | | | 294,291 | | | | — | | | | 928,555 | | | | 280,287 | | | | 280,287 | | | | 634,264 | | | | 14,004 | | | | 648,268 | |
| | | | | | |
Gross profit | | | 192,535 | | | | 169,822 | | | | 40 | | | | 362,397 | | | | 172,442 | | | | 172,442 | | | | 192,535 | | | | (2,580 | ) | | | 189,955 | |
Selling, general and administrative | | | 65,176 | | | | 45,884 | | | | 52,491 | | | | 163,551 | | | | 47,359 | | | | 47,359 | | | | 65,176 | | | | 51,016 | | | | 116,192 | |
Research and development costs | | | 19,480 | | | | 7,588 | | | | — | | | | 27,068 | | | | 8,785 | | | | 8,785 | | | | 19,480 | | | | (1,197 | ) | | | 18,283 | |
| | | | | | |
Operating Income | | | 107,879 | | | | 116,350 | | | | (52,451 | ) | | | 171,778 | | | | 116,298 | | | | 116,298 | | | | 107,879 | | | | (52,399 | ) | | | 55,480 | |
Interest income | | | | | | | | | | | 3,018 | | | | 3,018 | | | | 260 | | | | 260 | | | | | | | | 2,758 | | | | 2,758 | |
Interest expense | | | | | | | | | | | (62,448 | ) | | | (62,448 | ) | | | (22,871 | ) | | | (22,871 | ) | | | | | | | (39,577 | ) | | | (39,577 | ) |
Other income | | | | | | | | | | | (451 | ) | | | (451 | ) | | | (10 | ) | | | (10 | ) | | | | | | | (441 | ) | | | (441 | ) |
| | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Earnings from continuing operations before tax and minority interest | | | 107,879 | | | | 116,350 | | | | (112,332 | ) | | | 111,897 | | | | 93,677 | | | | 93,677 | | | | 107,879 | | | | (89,659 | ) | | | 18,220 | |
Provision for income tax | | | | | | | | | | | 40,955 | | | | 40,955 | | | | 36,347 | | | | 36,347 | | | | | | | | 4,608 | | | | 4,608 | |
| | | | | | |
Earnings before equity in earnings (losses) and minority interest | | | 107,879 | | | | 116,350 | | | | (153,287 | ) | | | 70,942 | | | | 57,330 | | | | 57,330 | | | | 107,879 | | | | (94,267 | ) | | | 13,612 | |
Equity in earnings (losses) of unconsolidated entities, net | | | | | | | | | | | (1,957 | ) | | | (1,957 | ) | | | (1,957 | ) | | | (1,957 | ) | | | | | | | — | | | | — | |
Minority interest expense (income), net of tax | | | | | | | | | | | 122 | | | | 122 | | | | 312 | | | | 312 | | | | | | | | (190 | ) | | | (190 | ) |
| | | | | | |
Net earnings from continuing operations | | | 107,879 | | | | 116,350 | | | | (155,366 | ) | | | 68,863 | | | | 55,061 | | | | 55,061 | | | | 107,879 | | | | (94,077 | ) | | | 13,802 | |
| | | | | | |
Earnings from discontinued operations | | | — | | | | — | | | | 1,637 | | | | 1,637 | | | | | | | | — | | | | | | | | 56,698 | | | | 56,698 | |
| | | | | | |
Net earnings | | $ | 107,879 | | | $ | 116,350 | | | $ | (153,729 | ) | | $ | 70,500 | | | $ | 55,061 | | | $ | 55,061 | | | $ | 107,879 | | | $ | (37,379 | ) | | $ | 70,500 | |
| | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-basic — continuing operations | | | | | | | | | | | | | | $ | 0.35 | | | | | | | | | | | | | | | | | | | $ | 0.07 | |
Net earnings per share-basic — discontinued operations | | | | | | | | | | | | | | | 0.01 | | | | | | | | | | | | | | | | | | | | 0.29 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-basic | | | | | | | | | | | | | | $ | 0.36 | | | | | | | | | | | | | | | | | | | $ | 0.36 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Pro forma Weighted average shares-basic | | | | | | | | | | | | | | | 194,542 | | | | | | | | | | | | | | | | | | | | 194,542 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-diluted — continuing operations | | | | | | | | | | | | | | $ | 0.35 | | | | | | | | | | | | | | | | | | | $ | 0.07 | |
Net earnings per share-diluted — discontinued operations | | | | | | | | | | | | | | | 0.01 | | | | | | | | | | | | | | | | | | | | 0.29 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-diluted | | | | | | | | | | | | | | $ | 0.36 | | | | | | | | | | | | | | | | | | | $ | 0.36 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Pro forma Weighted average shares-diluted | | | | | | | | | | | | | | | 196,537 | | | | | | | | | | | | | | | | | | | | 196,537 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
(A) | | These columns represent the historical segment presentation of FIS as filed in the 10-Q for the three-month period ended March 31, 2008 |
|
(B) | | This column represents the components of LPS previously reported within the Lender Processing Services segment that will be presented as discontinued operations beginning with FIS’s reported results beginning with the three and nine-month periods ended September 30, 2008 |
|
(C) | | This presentation represents FIS’s consolidated results recast to reflect discontinued operations consistent with how earnings will be reported by FIS beginning with the three and nine-month periods ended September 30, 2008. |
Fidelity National Information Services
2007 Recast Income Statements
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Q/E 3/31/07 (A) | | | Discontinued Operations | | | Q/E 3/31/07 Recast (D) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate & | | | | |
| | TPS | | | LPS | | | Corporate | | | FIS | | | LPS (B) | | | Other (C) | | | Disc Ops | | | TPS | | | Other | | | FIS | |
| | | | |
Three Months Ended March 31, 2007 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Processing and services revenues | | $ | 680,545 | | | $ | 419,350 | | | $ | 3,132 | | | $ | 1,103,027 | | | $ | 400,188 | | | $ | 31,587 | | | $ | 431,775 | | | $ | 655,950 | | | $ | 15,302 | | | $ | 671,252 | |
Cost of revenues | | | 530,051 | | | | 270,268 | | | | — | | | | 800,319 | | | | 251,185 | | | | 27,938 | | | | 279,123 | | | | 507,487 | | | | 13,709 | | | | 521,196 | |
| | | | | | |
Gross profit | | | 150,494 | | | | 149,082 | | | | 3,132 | | | | 302,708 | | | | 149,003 | | | | 3,649 | | | | 152,652 | | | | 148,463 | | | | 1,593 | | | | 150,056 | |
Selling, general and administrative | | | 43,039 | | | | 44,285 | | | | 29,488 | | | | 116,812 | | | | 43,525 | | | | 3,730 | | | | 47,255 | | | | 40,886 | | | | 28,671 | | | | 69,557 | |
Research and development costs | | | 17,518 | | | | 9,591 | | | | — | | | | 27,109 | | | | 9,591 | | | | — | | | | 9,591 | | | | 17,518 | | | | — | | | | 17,518 | |
| | | | | | |
Operating Income | | | 89,937 | | | | 95,206 | | | | (26,356 | ) | | | 158,787 | | | | 95,887 | | | | (81 | ) | | | 95,806 | | | | 90,059 | | | | (27,078 | ) | | | 62,981 | |
Interest income | | | | | | | | | | | 634 | | | | 634 | | | | 350 | | | | 75 | | | | 425 | | | | | | | | 209 | | | | 209 | |
Interest expense | | | | | | | | | | | (72,115 | ) | | | (72,115 | ) | | | (42 | ) | | | — | | | | (42 | ) | | | | | | | (72,073 | ) | | | (72,073 | ) |
Other income | | | | | | | | | | | 668 | | | | 668 | | | | 573 | | | | 3 | | | | 576 | | | | | | | | 92 | | | | 92 | |
| | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Earnings from continuing operations before tax and minority interest | | | 89,937 | | | | 95,206 | | | | (97,169 | ) | | | 87,974 | | | | 96,768 | | | | (3 | ) | | | 96,765 | | | | 90,059 | | | | (98,850 | ) | | | (8,791 | ) |
Provision for income tax | | | | | | | | | | | 32,727 | | | | 32,727 | | | | 37,449 | | | | (2 | ) | | | 37,447 | | | | | | | | (4,720 | ) | | | (4,720 | ) |
| | | | | | |
Earnings before equity in earnings (losses) and minority interest | | | 89,937 | | | | 95,206 | | | | (129,896 | ) | | | 55,247 | | | | 59,319 | | | | (1 | ) | | | 59,318 | | | | 90,059 | | | | (94,130 | ) | | | (4,071 | ) |
Equity in earnings (losses) of unconsolidated entities, net | | | | | | | | | | | 936 | | | | 936 | | | | (472 | ) | | | — | | | | (472 | ) | | | | | | | 1,408 | | | | 1,408 | |
Minority interest expense (income), net of tax | | | | | | | | | | | 88 | | | | 88 | | | | 163 | | | | 264 | | | | 427 | | | | | | | | (339 | ) | | | (339 | ) |
| | | | | | |
Net earnings from continuing operations | | | 89,937 | | | | 95,206 | | | | (129,048 | ) | | | 56,095 | | | | 58,684 | | | | (265 | ) | | | 58,419 | | | | 90,059 | | | | (92,383 | ) | | | (2,324 | ) |
| | | | | | |
Earnings from discontinued operations | | | — | | | | — | | | | 3,408 | | | | 3,408 | | | | | | | | | | | | — | | | | | | | | 61,827 | | | | 61,827 | |
| | | | | | |
Net earnings | | $ | 89,937 | | | $ | 95,206 | | | $ | (125,640 | ) | | $ | 59,503 | | | $ | 58,684 | | | $ | (265 | ) | | $ | 58,419 | | | $ | 90,059 | | | $ | (30,556 | ) | | $ | 59,503 | |
| | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-basic — continuing operations | | | | | | | | | | | | | | $ | 0.29 | | | | | | | | | | | | | | | | | | | | | | | $ | (0.01 | ) |
Net earnings per share-basic — discontinued operations | | | | | | | | | | | | | | | 0.02 | | | | | | | | | | | | | | | | | | | | | | | | 0.32 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-basic | | | | | | | | | | | | | | $ | 0.31 | | | | | | | | | | | | | | | | | | | | | | | $ | 0.31 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Pro forma Weighted average shares-basic | | | | | | | | | | | | | | | 191,898 | | | | | | | | | | | | | | | | | | | | | | | | 191,898 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-diluted — continuing operations | | | | | | | | | | | | | | $ | 0.29 | | | | | | | | | | | | | | | | | | | | | | | $ | (0.01 | ) |
Net earnings per share-diluted — discontinued operations | | | | | | | | | | | | | | | 0.02 | | | | | | | | | | | | | | | | | | | | | | | | 0.32 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-diluted | | | | | | | | | | | | | | $ | 0.30 | | | | | | | | | | | | | | | | | | | | | | | $ | 0.30 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Pro forma Weighted average shares-diluted | | | | | | | | | | | | | | | 195,807 | | | | | | | | | | | | | | | | | | | | | | | | 195,807 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
(A) | | These columns represent the historical segment presentation of FIS as presented in the 2007 Form 10-K. Consolidated Results agree to the quarterly financial information provided on Page 24 of the FIS Form 10-K filed on February 29, 2008 |
|
(B) | | This column represents the components of LPS previously reported within the Lender Processing Services segment that will be presented as discontinued operations beginning with FIS’s reported results beginning with the three and nine-month periods ended September 30, 2008 |
|
(C) | | This column represents the operations of HFN, Credit, GameCash Financial information that were presented as discontinued operations beginning with FIS’s reported results beginning with the three-month period ended March 31, 2008 |
|
(D) | | This presentation represents FIS’s consolidated results recast to reflect discontinued operations consistent with how earnings will be reported by FIS beginning with the three and nine-month periods ended September 30, 2008. |
Fidelity National Information Services
2007 Recast Income Statements
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Q/E 6/30/07 (A) | | | Discontinued Operations | | | Q/E 6/30/07 Recast (D) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate & | | | | |
| | TPS | | | LPS | | | Corporate | | | FIS | | | LPS (B) | | | Other (C) | | | Disc Ops | | | TPS | | | Other | | | FIS | |
| | | | |
Three Months Ended June 30, 2007 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Processing and services revenues | | $ | 709,724 | | | $ | 442,763 | | | $ | 4,021 | | | $ | 1,156,508 | | | $ | 423,404 | | | $ | 31,474 | | | $ | 454,878 | | | $ | 684,811 | | | $ | 16,819 | | | $ | 701,630 | |
Cost of revenues | | | 550,691 | | | | 280,220 | | | | — | | | | 830,911 | | | | 262,193 | | | | 28,449 | | | | 290,642 | | | | 527,005 | | | | 13,264 | | | | 540,269 | |
| | | | | | |
Gross profit | | | 159,033 | | | | 162,543 | | | | 4,021 | | | | 325,597 | | | | 161,212 | | | | 3,024 | | | | 164,236 | | | | 157,806 | | | | 3,555 | | | | 161,361 | |
Selling, general and administrative | | | 45,989 | | | | 45,648 | | | | 31,671 | | | | 123,308 | | | | 44,948 | | | | 3,692 | | | | 48,640 | | | | 43,729 | | | | 30,939 | | | | 74,668 | |
Research and development costs | | | 14,905 | | | | 8,683 | | | | — | | | | 23,588 | | | | 8,683 | | | | — | | | | 8,683 | | | | 14,905 | | | | — | | | | 14,905 | |
| | | | | | |
Operating Income | | | 98,139 | | | | 108,212 | | | | (27,650 | ) | | | 178,701 | | | | 107,581 | | | | (668 | ) | | | 106,913 | | | | 99,172 | | | | (27,384 | ) | | | 71,788 | |
Interest income | | | | | | | | | | | 548 | | | | 548 | | | | 325 | | | | 58 | | | | 383 | | | | | | | | 165 | | | | 165 | |
Interest expense | | | | | | | | | | | (42,969 | ) | | | (42,969 | ) | | | (35 | ) | | | — | | | | (35 | ) | | | | | | | (42,934 | ) | | | (42,934 | ) |
Gain on sale of Covansys stock | | | | | | | | | | | 92,044 | | | | 92,044 | | | | — | | | | — | | | | — | | | | | | | | 92,044 | | | | 92,044 | |
Other income | | | | | | | | | | | 812 | | | | 812 | | | | (525 | ) | | | 1 | | | | (524 | ) | | | | | | | 1,336 | | | | 1,336 | |
| | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Earnings from continuing operations before tax and minority interest | | | 98,139 | | | | 108,212 | | | | 22,785 | | | | 229,136 | | | | 107,346 | | | | (609 | ) | | | 106,737 | | | | 99,172 | | | | 23,227 | | | | 122,399 | |
Provision for income tax | | | | | | | | | | | 84,602 | | | | 84,602 | | | | 41,543 | | | | (225 | ) | | | 41,318 | | | | | | | | 43,284 | | | | 43,284 | |
| | | | | | |
Earnings before equity in earnings (losses) and minority interest | | | 98,139 | | | | 108,212 | | | | (61,817 | ) | | | 144,534 | | | | 65,803 | | | | (384 | ) | | | 65,419 | | | | 99,172 | | | | (20,057 | ) | | | 79,115 | |
Equity in earnings (losses) of unconsolidated entities, net | | | | | | | | | | | 736 | | | | 736 | | | | (594 | ) | | | — | | | | (594 | ) | | | | | | | 1,330 | | | | 1,330 | |
Minority interest expense (income), net of tax | | | | | | | | | | | 576 | | | | 576 | | | | 274 | | | | 291 | | | | 565 | | | | | | | | 11 | | | | 11 | |
| | | | | | |
Net earnings from continuing operations | | | 98,139 | | | | 108,212 | | | | (61,657 | ) | | | 144,694 | | | | 64,935 | | | | (675 | ) | | | 64,260 | | | | 99,172 | | | | (18,738 | ) | | | 80,434 | |
| | | | | | |
Earnings from discontinued operations | | | — | | | | — | | | | 3,310 | | | | 3,310 | | | | | | | | | | | | — | | | | | | | | 67,570 | | | | 67,570 | |
| | | | | | |
Net earnings | | $ | 98,139 | | | $ | 108,212 | | | $ | (58,347 | ) | | $ | 148,004 | | | $ | 64,935 | | | $ | (675 | ) | | $ | 64,260 | | | $ | 99,172 | | | $ | 48,832 | | | $ | 148,004 | |
| | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-basic — continuing operations | | | | | | | | | | | | | | $ | 0.75 | | | | | | | | | | | | | | | | | | | | | | | $ | 0.42 | |
Net earnings per share-basic — discontinued operations | | | | | | | | | | | | | | | 0.02 | | | | | | | | | | | | | | | | | | | | | | | | 0.35 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-basic | | | | | | | | | | | | | | $ | 0.77 | | | | | | | | | | | | | | | | | | | | | | | $ | 0.77 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Pro forma Weighted average shares-basic | | | | | | | | | | | | | | | 192,743 | | | | | | | | | | | | | | | | | | | | | | | | 192,743 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-diluted — continuing operations | | | | | | | | | | | | | | $ | 0.73 | | | | | | | | | | | | | | | | | | | | | | | $ | 0.41 | |
Net earnings per share-diluted — discontinued operations | | | | | | | | | | | | | | | 0.02 | | | | | | | | | | | | | | | | | | | | | | | | 0.34 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-diluted | | | | | | | | | | | | | | $ | 0.75 | | | | | | | | | | | | | | | | | | | | | | | $ | 0.75 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Pro forma Weighted average shares-diluted | | | | | | | | | | | | | | | 196,977 | | | | | | | | | | | | | | | | | | | | | | | | 196,977 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
(A) | | These columns represent the historical segment presentation of FIS as presented in the 2007 Form 10-K. Consolidated Results agree to the quarterly financial information provided on Page 24 of the FIS Form 10-K filed on February 29, 2008 |
|
(B) | | This column represents the components of LPS previously reported within the Lender Processing Services segment that will be presented as discontinued operations beginning with FIS’s reported results beginning with the three and nine-month periods ended September 30, 2008 |
|
(C) | | This column represents the operations of HFN, Credit, GameCash Financial information that were presented as discontinued operations beginning with FIS’s reported results beginning with the three-month period ended March 31, 2008 |
|
(D) | | This presentation represents FIS’s consolidated results recast to reflect discontinued operations consistent with how earnings will be reported by FIS beginning with the three and nine-month periods ended September 30, 2008. |
Fidelity National Information Services
2007 Recast Income Statements
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Q/E 9/30/07 (A) | | | Discontinued Operations | | | Q/E 9/30/07 Recast (D) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate & | | | | |
| | TPS | | | LPS | | | Corporate | | | FIS | | | LPS (B) | | | Other (C) | | | Disc Ops | | | TPS | | | Other | | | FIS | |
| | | | |
Three Months Ended September 30, 2007 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Processing and services revenues | | $ | 719,541 | | | $ | 444,183 | | | $ | 4,343 | | | $ | 1,168,067 | | | $ | 424,419 | | | $ | 30,836 | | | $ | 455,255 | | | $ | 695,651 | | | $ | 17,161 | | | $ | 712,812 | |
Cost of revenues | | | 569,436 | | | | 269,476 | | | | — | | | | 838,912 | | | | 249,685 | | | | 26,229 | | | | 275,914 | | | | 547,441 | | | | 15,557 | | | | 562,998 | |
| | | | | | |
Gross profit | | | 150,105 | | | | 174,707 | | | | 4,343 | | | | 329,155 | | | | 174,734 | | | | 4,607 | | | | 179,341 | | | | 148,210 | | | | 1,604 | | | | 149,814 | |
Selling, general and administrative | | | 46,638 | | | | 48,168 | | | | 28,996 | | | | 123,802 | | | | 47,874 | | | | 3,541 | | | | 51,415 | | | | 44,539 | | | | 27,848 | | | | 72,387 | |
Research and development costs | | | 17,579 | | | | 8,877 | | | | — | | | | 26,456 | | | | 8,877 | | | | — | | | | 8,877 | | | | 17,579 | | | | — | | | | 17,579 | |
| | | | | | |
Operating Income | | | 85,888 | | | | 117,662 | | | | (24,653 | ) | | | 178,897 | | | | 117,983 | | | | 1,066 | | | | 119,049 | | | | 86,092 | | | | (26,244 | ) | | | 59,848 | |
Interest income | | | | | | | | | | | 1,073 | | | | 1,073 | | | | 310 | | | | 44 | | | | 354 | | | | | | | | 719 | | | | 719 | |
Interest expense | | | | | | | | | | | (44,370 | ) | | | (44,370 | ) | | | (6,514 | ) | | | — | | | | (6,514 | ) | | | | | | | (37,856 | ) | | | (37,856 | ) |
Gain on sale of Covansys stock | | | | | | | | | | | 182,444 | | | | 182,444 | | | | — | | | | — | | | | — | | | | | | | | 182,444 | | | | 182,444 | |
Other income | | | | | | | | | | | 3,332 | | | | 3,332 | | | | 5 | | | | — | | | | 5 | | | | | | | | 3,327 | | | | 3,327 | |
| | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Earnings from continuing operations before tax and minority interest | | | 85,888 | | | | 117,662 | | | | 117,826 | | | | 321,376 | | | | 111,784 | | | | 1,110 | | | | 112,894 | | | | 86,092 | | | | 122,390 | | | | 208,482 | |
Provision for income tax | | | | | | | | | | | 118,909 | | | | 118,909 | | | | 43,261 | | | | 410 | | | | 43,671 | | | | | | | | 75,238 | | | | 75,238 | |
| | | | | | |
Earnings before equity in earnings (losses) and minority interest | | | 85,888 | | | | 117,662 | | | | (1,083 | ) | | | 202,467 | | | | 68,523 | | | | 700 | | | | 69,223 | | | | 86,092 | | | | 47,152 | | | | 133,244 | |
Equity in earnings (losses) of unconsolidated entities, net | | | | | | | | | | | (406 | ) | | | (406 | ) | | | (492 | ) | | | — | | | | (492 | ) | | | | | | | 86 | | | | 86 | |
Minority interest expense (income), net of tax | | | | | | | | | | | 799 | | | | 799 | | | | 278 | | | | 562 | | | | 840 | | | | | | | | (41 | ) | | | (41 | ) |
| | | | | | |
Net earnings from continuing operations | | | 85,888 | | | | 117,662 | | | | (2,288 | ) | | | 201,262 | | | | 67,753 | | | | 138 | | | | 67,891 | | | | 86,092 | | | | 47,279 | | | | 133,371 | |
| | | | | | |
Earnings from discontinued operations | | | — | | | | — | | | | 44,042 | | | | 44,042 | | | | | | | | | | | | — | | | | | | | | 111,933 | | | | 111,933 | |
| | | | | | |
Net earnings | | $ | 85,888 | | | $ | 117,662 | | | $ | 41,754 | | | $ | 245,304 | | | $ | 67,753 | | | $ | 138 | | | $ | 67,891 | | | $ | 86,092 | | | $ | 159,212 | | | $ | 245,304 | |
| | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-basic — continuing operations | | | | | | | | | | | | | | $ | 1.04 | | | | | | | | | | | | | | | | | | | | | | | $ | 0.69 | |
Net earnings per share-basic — discontinued operations | | | | | | | | | | | | | | | 0.23 | | | | | | | | | | | | | | | | | | | | | | | | 0.58 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-basic | | | | | | | | | | | | | | $ | 1.27 | | | | | | | | | | | | | | | | | | | | | | | $ | 1.27 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Pro forma Weighted average shares-basic | | | | | | | | | | | | | | | 193,171 | | | | | | | | | | | | | | | | | | | | | | | | 193,171 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-diluted — continuing operations | | | | | | | | | | | | | | $ | 1.02 | | | | | | | | | | | | | | | | | | | | | | | $ | 0.68 | |
Net earnings per share-diluted — discontinued operations | | | | | | | | | | | | | | | 0.22 | | | | | | | | | | | | | | | | | | | | | | | | 0.57 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-diluted | | | | | | | | | | | | | | $ | 1.25 | | | | | | | | | | | | | | | | | | | | | | | $ | 1.25 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Pro forma Weighted average shares-diluted | | | | | | | | | | | | | | | 196,649 | | | | | | | | | | | | | | | | | | | | | | | | 196,649 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
(A) | | These columns represent the historical segment presentation of FIS as presented in the 2007 Form 10-K. Consolidated Results agree to the quarterly financial information provided on Page 24 of the FIS Form 10-K filed on February 29, 2008 |
|
(B) | | This column represents the components of LPS previously reported within the Lender Processing Services segment that will be presented as discontinued operations beginning with FIS’s reported results beginning with the three and nine-month periods ended September 30, 2008 |
|
(C) | | This column represents the operations of HFN, Credit, GameCash Financial information that were presented as discontinued operations beginning with FIS’s reported results beginning with the three-month period ended March 31, 2008 |
|
(D) | | This presentation represents FIS’s consolidated results recast to reflect discontinued operations consistent with how earnings will be reported by FIS beginning with the three and nine-month periods ended September 30, 2008. |
Fidelity National Information Services
2007 Recast Income Statements
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Q/E 12/31/07 (A) | | | Discontinued Operations | | | Q/E 12/31/07 Recast (D) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate & | | | | |
| | TPS | | | LPS | | | Corporate | | | FIS | | | LPS (B) | | | Other (C) | | | Disc Ops | | | TPS | | | Other | | | FIS | |
| | | | |
Three Months Ended December 31, 2007 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Processing and services revenues | | $ | 875,267 | | | $ | 454,806 | | | $ | 341 | | | $ | 1,330,414 | | | $ | 438,592 | | | $ | 27,407 | | | $ | 465,999 | | | $ | 852,258 | | | $ | 12,157 | | | $ | 864,415 | |
Cost of revenues | | | 658,550 | | | | 273,239 | | | | — | | | | 931,789 | | | | 254,667 | | | | 24,424 | | | | 279,091 | | | | 637,777 | | | | 14,921 | | | | 652,698 | |
| | | | | | |
Gross profit | | | 216,717 | | | | 181,567 | | | | 341 | | | | 398,625 | | | | 183,924 | | | | 2,984 | | | | 186,908 | | | | 214,481 | | | | (2,764 | ) | | | 211,717 | |
Selling, general and administrative | | | 55,774 | | | | 50,801 | | | | 33,633 | | | | 140,208 | | | | 50,657 | | | | 3,275 | | | | 53,932 | | | | 53,792 | | | | 32,484 | | | | 86,276 | |
Research and development costs | | | 20,376 | | | | 8,785 | | | | — | | | | 29,161 | | | | 8,785 | | | | — | | | | 8,785 | | | | 20,376 | | | | — | | | | 20,376 | |
| | | | | | |
Operating Income | | | 140,567 | | | | 121,981 | | | | (33,292 | ) | | | 229,256 | | | | 124,483 | | | | (292 | ) | | | 124,191 | | | | 140,313 | | | | (35,248 | ) | | | 105,065 | |
Interest income | | | | | | | | | | | 2,288 | | | | 2,288 | | | | 297 | | | | 49 | | | | 346 | | | | | | | | 1,942 | | | | 1,942 | |
Interest expense | | | | | | | | | | | (68,886 | ) | | | (68,886 | ) | | | (28,516 | ) | | | — | | | | (28,516 | ) | | | | | | | (40,370 | ) | | | (40,370 | ) |
Other income | | | | | | | | | | | 11,101 | | | | 11,101 | | | | 122 | | | | — | | | | 122 | | | | | | | | 10,979 | | | | 10,979 | |
| | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Earnings from continuing operations before tax and minority interest | | | 140,567 | | | | 121,981 | | | | (88,789 | ) | | | 173,759 | | | | 96,386 | | | | (243 | ) | | | 96,143 | | | | 140,313 | | | | (62,697 | ) | | | 77,616 | |
Provision for income tax | | | | | | | | | | | 64,292 | | | | 64,292 | | | | 37,302 | | | | (92 | ) | | | 37,210 | | | | | | | | 27,082 | | | | 27,082 | |
| | | | | | |
Earnings before equity in earnings (losses) and minority interest | | | 140,567 | | | | 121,981 | | | | (153,081 | ) | | | 109,467 | | | | 59,084 | | | | (151 | ) | | | 58,933 | | | | 140,313 | | | | (89,779 | ) | | | 50,534 | |
Equity in earnings (losses) of unconsolidated entities, net | | | | | | | | | | | (330 | ) | | | (330 | ) | | | (331 | ) | | | — | | | | (331 | ) | | | | | | | 1 | | | | 1 | |
Minority interest expense (income), net of tax | | | | | | | | | | | 729 | | | | 729 | | | | 304 | | | | 106 | | | | 410 | | | | | | | | 319 | | | | 319 | |
| | | | | | |
Net earnings from continuing operations | | | 140,567 | | | | 121,981 | | | | (154,140 | ) | | | 108,408 | | | | 58,449 | | | | (257 | ) | | | 58,192 | | | | 140,313 | | | | (90,097 | ) | | | 50,216 | |
| | | | | | |
Earnings from discontinued operations | | | — | | | | — | | | | 3 | | | | 3 | | | | | | | | | | | | — | | | | | | | | 58,195 | | | | 58,195 | |
| | | | | | |
Net earnings | | $ | 140,567 | | | $ | 121,981 | | | $ | (154,137 | ) | | $ | 108,411 | | | $ | 58,449 | | | $ | (257 | ) | | $ | 58,192 | | | $ | 140,313 | | | $ | (31,902 | ) | | $ | 108,411 | |
| | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-basic — continuing operations | | | | | | | | | | | | | | $ | 0.56 | | | | | | | | | | | | | | | | | | | | | | | $ | 0.26 | |
Net earnings per share-basic — discontinued operations | | | | | | | | | | | | | | | 0.00 | | | | | | | | | | | | | | | | | | | | | | | | 0.30 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-basic | | | | | | | | | | | | | | $ | 0.56 | | | | | | | | | | | | | | | | | | | | | | | $ | 0.56 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Pro forma Weighted average shares-basic | | | | | | | | | | | | | | | 194,479 | | | | | | | | | | | | | | | | | | | | | | | | 194,479 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-diluted — continuing operations | | | | | | | | | | | | | | $ | 0.55 | | | | | | | | | | | | | | | | | | | | | | | $ | 0.26 | |
Net earnings per share-diluted — discontinued operations | | | | | | | | | | | | | | | 0.00 | | | | | | | | | | | | | | | | | | | | | | | | 0.30 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-diluted | | | | | | | | | | | | | | $ | 0.55 | | | | | | | | | | | | | | | | | | | | | | | $ | 0.55 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Pro forma Weighted average shares-diluted | | | | | | | | | | | | | | | 196,741 | | | | | | | | | | | | | | | | | | | | | | | | 196,741 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(A) These columns represent the historical segment presentation of FIS as presented in the 2007 Form 10-K. Consolidated Results agree to the quarterly financial information provided on Page 24 of the FIS Form 10-K filed on February 29, 2008
(B) This column represents the components of LPS previously reported within the Lender Processing Services segment that will be presented as discontinued operations beginning with FIS’s reported results beginning with the three and nine-month periods ended September 30, 2008
(C) This column represents the operations of HFN, Credit, GameCash Financial information that were presented as discontinued operations beginning with FIS’s reported results beginning with the three-month period ended March 31, 2008
(D) This presentation represents FIS’s consolidated results recast to reflect discontinued operations consistent with how earnings will be reported by FIS beginning with the three and nine-month periods ended September 30, 2008.
Fidelity National Information Services
2007 Recast Income Statements
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Y/E 12/31/07 (A) | | | Discontinued Operations | | | Y/E 12/31/07 Recast (D) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Corporate & | | | | |
| | TPS | | | LPS | | | Corporate | | | FIS | | | LPS (B) | | | Other (C) | | | Disc Ops | | | TPS | | | Other | | | FIS | |
| | | | |
Year Ended December 31, 2007 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Processing and services revenues | | $ | 2,985,077 | | | $ | 1,761,102 | | | $ | 11,837 | | | $ | 4,758,016 | | | $ | 1,686,604 | | | $ | 121,303 | | | $ | 1,807,907 | | | $ | 2,888,670 | | | $ | 61,439 | | | $ | 2,950,109 | |
Cost of revenues | | | 2,308,728 | | | | 1,093,203 | | | | — | | | | 3,401,931 | | | | 1,017,730 | | | | 107,040 | | | | 1,124,770 | | | | 2,219,710 | | | | 57,451 | | | | 2,277,161 | |
| | | | | | |
Gross profit | | | 676,349 | | | | 667,899 | | | | 11,837 | | | | 1,356,085 | | | | 668,874 | | | | 14,263 | | | | 683,137 | | | | 668,960 | | | | 3,988 | | | | 672,948 | |
Selling, general and administrative | | | 191,440 | | | | 188,902 | | | | 123,788 | | | | 504,130 | | | | 187,004 | | | | 14,238 | | | | 201,242 | | | | 182,946 | | | | 119,942 | | | | 302,888 | |
Research and development costs | | | 70,378 | | | | 35,936 | | | | — | | | | 106,314 | | | | 35,936 | | | | — | | | | 35,936 | | | | 70,378 | | | | — | | | | 70,378 | |
| | | | | | |
Operating Income | | | 414,531 | | | | 443,061 | | | | (111,951 | ) | | | 745,641 | | | | 445,934 | | | | 25 | | | | 445,959 | | | | 415,636 | | | | (115,954 | ) | | | 299,682 | |
Interest income | | | — | | | | — | | | | 4,543 | | | | 4,543 | | | | 1,283 | | | | 225 | | | | 1,508 | | | | | | | | 3,035 | | | | 3,035 | |
Interest expense | | | — | | | | — | | | | (228,340 | ) | | | (228,340 | ) | | | (35,107 | ) | | | — | | | | (35,107 | ) | | | | | | | (193,233 | ) | | | (193,233 | ) |
Gain on sale of Covansys stock | | | — | | | | — | | | | 274,488 | | | | 274,488 | | | | — | | | | — | | | | — | | | | | | | | 274,488 | | | | 274,488 | |
Other income | | | — | | | | — | | | | 15,913 | | | | 15,913 | | | | 175 | | | | 4 | | | | 179 | | | | | | | | 15,734 | | | | 15,734 | |
| | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Earnings from continuing operations before tax and minority interest | | | 414,531 | | | | 443,061 | | | | (45,347 | ) | | | 812,245 | | | | 412,284 | | | | 255 | | | | 412,539 | | | | 415,636 | | | | (15,930 | ) | | | 399,706 | |
Provision for income tax | | | — | | | | — | | | | 300,530 | | | | 300,530 | | | | 159,554 | | | | 92 | | | | 159,646 | | | | | | | | 140,884 | | | | 140,884 | |
| | | | | | |
Earnings before equity in earnings (losses) and minority interest | | | 414,531 | | | | 443,061 | | | | (345,877 | ) | | | 511,715 | | | | 252,730 | | | | 163 | | | | 252,893 | | | | 415,636 | | | | (156,814 | ) | | | 258,822 | |
Equity in earnings (losses) of unconsolidated entities, net | | | — | | | | — | | | | 936 | | | | 936 | | | | (1,889 | ) | | | — | | | | (1,889 | ) | | | | | | | 2,825 | | | | 2,825 | |
Minority interest expense (income), net of tax | | | — | | | | — | | | | 2,192 | | | | 2,192 | | | | 1,019 | | | | 1,223 | | | | 2,242 | | | | | | | | (50 | ) | | | (50 | ) |
| | | | | | |
Net earnings from continuing operations | | | 414,531 | | | | 443,061 | | | | (347,133 | ) | | | 510,459 | | | | 249,822 | | | | (1,060 | ) | | | 248,762 | | | | 415,636 | | | | (153,939 | ) | | | 261,697 | |
| | | | | | |
Earnings from discontinued operations | | | — | | | | — | | | | 50,763 | | | | 50,763 | | | | — | | | | | | | | — | | | | | | | | 299,525 | | | | 299,525 | |
| | | | | | |
Net earnings | | $ | 414,531 | | | $ | 443,061 | | | $ | (296,370 | ) | | $ | 561,222 | | | $ | 249,822 | | | $ | (1,060 | ) | | $ | 248,762 | | | $ | 415,636 | | | $ | 145,586 | | | $ | 561,222 | |
| | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-basic — continuing operations | | | | | | | | | | | | | | $ | 2.64 | | | | | | | | | | | | | | | | | | | | | | | $ | 1.36 | |
Net earnings per share-basic — discontinued operations | | | | | | | | | | | | | | | 0.27 | | | | | | | | | | | | | | | | | | | | | | | | 1.55 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-basic | | | | | | | | | | | | | | $ | 2.91 | | | | | | | | | | | | | | | | | | | | | | | $ | 2.91 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Pro forma Weighted average shares-basic | | | | | | | | | | | | | | | 193,080 | | | | | | | | | | | | | | | | | | | | | | | | 193,080 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-diluted — continuing operations | | | | | | | | | | | | | | $ | 2.60 | | | | | | | | | | | | | | | | | | | | | | | $ | 1.33 | |
Net earnings per share-diluted — discontinued operations | | | | | | | | | | | | | | | 0.26 | | | | | | | | | | | | | | | | | | | | | | | | 1.53 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings per share-diluted | | | | | | | | | | | | | | $ | 2.86 | | | | | | | | | | | | | | | | | | | | | | | $ | 2.86 | |
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Pro forma Weighted average shares-diluted | | | | | | | | | | | | | | | 196,546 | | | | | | | | | | | | | | | | | | | | | | | | 196,546 | |
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(A) | | These columns represent the historical segment presentation of FIS as presented in the 2007 Form 10-K. |
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(B) | | This column represents the components of LPS previously reported within the Lender Processing Services segment that will be presented as discontinued operations beginning with FIS’s reported results beginning with the three and nine-month periods ended September 30, 2008 |
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(C) | | This column represents the operations of HFN, Credit, GameCash Financial information that were presented as discontinued operations beginning with FIS’s reported results beginning with the three-month period ended March 31, 2008 |
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(D) | | This presentation represents FIS’s consolidated results recast to reflect discontinued operations consistent with how earnings will be reported by FIS beginning with the three and nine-month periods ended September 30, 2008. |