Supplemental Guarantor Financial Information | 6 Months Ended |
Jun. 30, 2014 |
Supplemental Guarantor Financial Information [Abstract] | ' |
Supplemental Guarantor Financial Information | ' |
Supplemental Guarantor Financial Information |
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The following supplemental financial information sets forth for FIS and its guarantor and non-guarantor subsidiaries: (a) the Condensed Consolidating Balance Sheets as of June 30, 2014 and December 31, 2013; (b) the Condensed Consolidating Statements of Earnings and Comprehensive Earnings for the three and six months ended June 30, 2014 and 2013; and (c) the Condensed Consolidating Statements of Cash Flows for the six months ended June 30, 2014 and 2013. Each guarantor subsidiary is 100% owned by FIS and all guarantees are full and unconditional as well as joint and several. |
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| Condensed Consolidating Balance Sheets |
| June 30, 2014 |
| | | Guarantor | | Non-guarantor | | | | |
| FIS | | subsidiaries | | subsidiaries | | Eliminations | | Consolidated |
| (in millions) |
Assets | | | | | | | | | |
Current assets: | | | | | | | | | |
Cash and cash equivalents | $ | 30 | | | $ | 264.5 | | | $ | 499.2 | | | $ | — | | | $ | 793.7 | |
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Settlement deposits | — | | | 439.5 | | | — | | | — | | | 439.5 | |
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Trade receivables, net | — | | | 724.3 | | | 293.9 | | | — | | | 1,018.20 | |
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Investment in subsidiaries, intercompany and receivables from related parties | 9,687.00 | | | 11,346.80 | | | 896.7 | | | (21,892.3 | ) | | 38.2 | |
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Other current assets | 15.3 | | | 305.4 | | | 224.6 | | | — | | | 545.3 | |
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Total current assets | 9,732.30 | | | 13,080.50 | | | 1,914.40 | | | (21,892.3 | ) | | 2,834.90 | |
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Property and equipment, net | 5.9 | | | 320.3 | | | 132.8 | | | — | | | 459 | |
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Goodwill | — | | | 7,212.70 | | | 1,305.00 | | | — | | | 8,517.70 | |
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Intangible assets, net | — | | | 895.2 | | | 351.3 | | | — | | | 1,246.50 | |
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Computer software, net | 38.1 | | | 662.2 | | | 169.4 | | | — | | | 869.7 | |
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Other noncurrent assets | 65.6 | | | 331.1 | | | 116.3 | | | — | | | 513 | |
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Total assets | $ | 9,841.90 | | | $ | 22,502.00 | | | $ | 3,989.20 | | | $ | (21,892.3 | ) | | $ | 14,440.80 | |
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Liabilities and Equity | | | | | | | | | |
Current liabilities: | | | | | | | | | |
Accounts payable and accrued liabilities | $ | 125.3 | | | $ | 200.8 | | | $ | 322.4 | | | $ | — | | | $ | 648.5 | |
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Settlement payables | — | | | 566.2 | | | 164.5 | | | — | | | 730.7 | |
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Current portion of long-term debt | 14.1 | | | 8.3 | | | 0.6 | | | — | | | 23 | |
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Deferred revenues | — | | | 187.9 | | | 88.1 | | | — | | | 276 | |
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Other current liabilities | — | | | — | | | 23.1 | | | — | | | 23.1 | |
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Total current liabilities | 139.4 | | | 963.2 | | | 598.7 | | | — | | | 1,701.30 | |
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Deferred income taxes | — | | | 767.7 | | | 48.7 | | | — | | | 816.4 | |
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Long-term debt, excluding current portion | 4,895.30 | | | 5 | | | 0.2 | | | — | | | 4,900.50 | |
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Other long-term liabilities | 6.4 | | | 94 | | | 222.1 | | | — | | | 322.5 | |
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Total liabilities | 5,041.10 | | | 1,829.90 | | | 869.7 | | | — | | | 7,740.70 | |
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Total equity | 4,800.80 | | | 20,672.10 | | | 3,119.50 | | | (21,892.3 | ) | | 6,700.10 | |
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Total liabilities and equity | $ | 9,841.90 | | | $ | 22,502.00 | | | $ | 3,989.20 | | | $ | (21,892.3 | ) | | $ | 14,440.80 | |
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| Condensed Consolidating Balance Sheets |
| December 31, 2013 |
| | | Guarantor | | Non-guarantor | | | | |
| FIS | | subsidiaries | | subsidiaries | | Eliminations | | Consolidated |
| (in millions) |
Assets | | | | | | | | | |
Current assets: | | | | | | | | | |
Cash and cash equivalents | $ | 21.5 | | | $ | 172.4 | | | $ | 353.6 | | | $ | — | | | $ | 547.5 | |
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Settlement deposits | — | | | 327.4 | | | — | | | — | | | 327.4 | |
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Trade receivables, net | — | | | 709.4 | | | 278.5 | | | — | | | 987.9 | |
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Investment in subsidiaries, intercompany and receivables from related parties | 9,305.80 | | | 10,846.70 | | | 1,083.50 | | | (21,200.2 | ) | | 35.8 | |
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Other current assets | 38.1 | | | 289.4 | | | 125.8 | | | — | | | 453.3 | |
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Total current assets | 9,365.40 | | | 12,345.30 | | | 1,841.40 | | | (21,200.2 | ) | | 2,351.90 | |
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Property and equipment, net | 6.5 | | | 329.3 | | | 103.2 | | | — | | | 439 | |
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Goodwill | — | | | 7,212.70 | | | 1,287.30 | | | — | | | 8,500.00 | |
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Intangible assets, net | — | | | 993.2 | | | 346.1 | | | — | | | 1,339.30 | |
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Computer software, net | 36.4 | | | 656.5 | | | 163.6 | | | — | | | 856.5 | |
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Other noncurrent assets | 63.6 | | | 294.5 | | | 115.3 | | | — | | | 473.4 | |
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Total assets | $ | 9,471.90 | | | $ | 21,831.50 | | | $ | 3,856.90 | | | $ | (21,200.2 | ) | | $ | 13,960.10 | |
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Liabilities and Equity | | | | | | | | | |
Current liabilities: | | | | | | | | | |
Accounts payable and accrued liabilities | $ | 184.7 | | | $ | 229.2 | | | $ | 354.1 | | | $ | — | | | $ | 768 | |
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Settlement payables | — | | | 453 | | | 65.6 | | | — | | | 518.6 | |
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Current portion of long-term debt | 114.1 | | | 13.3 | | | 1.4 | | | — | | | 128.8 | |
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Deferred revenues | — | | | 172.4 | | | 71.2 | | | — | | | 243.6 | |
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Other current liabilites | — | | | — | | | 13.7 | | | — | | | 13.7 | |
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Total current liabilities | 298.8 | | | 867.9 | | | 506 | | | — | | | 1,672.70 | |
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Deferred income taxes | — | | | 778.8 | | | 44.8 | | | — | | | 823.6 | |
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Long-term debt, excluding current portion | 4,333.20 | | | 6.3 | | | 0.3 | | | — | | | 4,339.80 | |
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Other long-term liabilities | 2.8 | | | 98.8 | | | 285.1 | | | — | | | 386.7 | |
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Total liabilities | 4,634.80 | | | 1,751.80 | | | 836.2 | | | — | | | 7,222.80 | |
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Total equity | 4,837.10 | | | 20,079.70 | | | 3,020.70 | | | (21,200.2 | ) | | 6,737.30 | |
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Total liabilities and equity | $ | 9,471.90 | | | $ | 21,831.50 | | | $ | 3,856.90 | | | $ | (21,200.2 | ) | | $ | 13,960.10 | |
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| Condensed Consolidating Statements of Earnings and Comprehensive Earnings |
| Three months ended June 30, 2014 |
| | | Guarantor | | Non-guarantor | | | | |
| FIS | | subsidiaries | | subsidiaries | | Eliminations | | Consolidated |
| (in millions) |
Processing and services revenues | $ | — | | | $ | 1,221.20 | | | $ | 377.9 | | | $ | — | | | $ | 1,599.10 | |
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Operating expenses | 53.6 | | | 922.8 | | | 313 | | | — | | | 1,289.40 | |
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Operating income | (53.6 | ) | | 298.4 | | | 64.9 | | | — | | | 309.7 | |
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Other income (expense): | | | | | | | | | |
Interest expense, net | (43.4 | ) | | (0.4 | ) | | 1.9 | | | — | | | (41.9 | ) |
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Other income (expense) | 0.7 | | | (2.0 | ) | | 0.1 | | | — | | | (1.2 | ) |
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Net earnings (loss) of equity affiliates | 255.4 | | | — | | | — | | | (255.4 | ) | | — | |
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Total other income (expense) | 212.7 | | | (2.4 | ) | | 2 | | | (255.4 | ) | | (43.1 | ) |
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Earnings (loss) from continuing operations before income taxes | 159.1 | | | 296 | | | 66.9 | | | (255.4 | ) | | 266.6 | |
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Provision (benefit) for income taxes | (27.1 | ) | | 83.2 | | | 24.3 | | | — | | | 80.4 | |
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Net earnings (loss) from continuing operations | 186.2 | | | 212.8 | | | 42.6 | | | (255.4 | ) | | 186.2 | |
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Earnings (loss) from discontinued operations, net of tax | (0.9 | ) | | — | | | (0.9 | ) | | 0.9 | | | (0.9 | ) |
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Net earnings (loss) | 185.3 | | | 212.8 | | | 41.7 | | | (254.5 | ) | | 185.3 | |
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Net (earnings) loss attributable to noncontrolling interest | (6.5 | ) | | (0.2 | ) | | (6.3 | ) | | 6.5 | | | (6.5 | ) |
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Net earnings (loss) attributable to FIS common stockholders | $ | 178.8 | | | $ | 212.6 | | | $ | 35.4 | | | $ | (248.0 | ) | | $ | 178.8 | |
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Comprehensive earnings (loss) attributable to FIS | $ | 188.5 | | | $ | 212.2 | | | $ | 46.1 | | | $ | (258.3 | ) | | $ | 188.5 | |
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| Condensed Consolidating Statements of Earnings and Comprehensive Earnings |
| Three months ended June 30, 2013 |
| | | Guarantor | | Non-guarantor | | | | |
| FIS | | subsidiaries | | subsidiaries | | Eliminations | | Consolidated |
| (in millions) |
Processing and services revenues | $ | — | | | $ | 1,180.80 | | | $ | 332 | | | $ | — | | | $ | 1,512.80 | |
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Operating expenses | 56.6 | | | 876 | | | 331.5 | | | — | | | 1,264.10 | |
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Operating income | (56.6 | ) | | 304.8 | | | 0.5 | | | — | | | 248.7 | |
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Other income (expense): | | | | | | | | | |
Interest expense, net | (48.1 | ) | | (0.4 | ) | | (0.9 | ) | | — | | | (49.4 | ) |
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Other income (expense) | (63.8 | ) | | 3.1 | | | (1.2 | ) | | — | | | (61.9 | ) |
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Net earnings (loss) of equity affiliates | 213.7 | | | — | | | — | | | (213.7 | ) | | — | |
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Total other income (expense) | 101.8 | | | 2.7 | | | (2.1 | ) | | (213.7 | ) | | (111.3 | ) |
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Earnings (loss) from continuing operations before income taxes | 45.2 | | | 307.5 | | | (1.6 | ) | | (213.7 | ) | | 137.4 | |
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Provision (benefit) for income taxes | (51.0 | ) | | 92.9 | | | (0.7 | ) | | — | | | 41.2 | |
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Net earnings (loss) from continuing operations | 96.2 | | | 214.6 | | | (0.9 | ) | | (213.7 | ) | | 96.2 | |
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Earnings (loss) from discontinued operations, net of tax | 12.8 | | | — | | | (3.9 | ) | | 3.9 | | | 12.8 | |
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Net earnings (loss) | 109 | | | 214.6 | | | (4.8 | ) | | (209.8 | ) | | 109 | |
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Net (earnings) loss attributable to noncontrolling interest | (4.2 | ) | | 0.1 | | | (4.3 | ) | | 4.2 | | | (4.2 | ) |
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Net earnings (loss) attributable to FIS common stockholders | $ | 104.8 | | | $ | 214.7 | | | $ | (9.1 | ) | | $ | (205.6 | ) | | $ | 104.8 | |
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Comprehensive earnings (loss) attributable to FIS | $ | 73.5 | | | $ | 216.1 | | | $ | (44.6 | ) | | $ | (171.5 | ) | | $ | 73.5 | |
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| Condensed Consolidating Statements of Earnings and Comprehensive Earnings |
| Six months ended June 30, 2014 |
| | | Guarantor | | Non-guarantor | | | | |
| FIS | | subsidiaries | | subsidiaries | | Eliminations | | Consolidated |
| (in millions) |
Processing and services revenues | $ | — | | | $ | 2,395.70 | | | $ | 723.7 | | | $ | — | | | $ | 3,119.40 | |
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Operating expenses | 100.9 | | | 1,818.10 | | | 604.6 | | | — | | | 2,523.60 | |
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Operating income | (100.9 | ) | | 577.6 | | | 119.1 | | | — | | | 595.8 | |
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Other income (expense): | | | | | | | | | |
Interest expense, net | (86.2 | ) | | (1.0 | ) | | 4.2 | | | — | | | (83.0 | ) |
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Other income (expense) | 0.4 | | | (2.4 | ) | | 0.3 | | | — | | | (1.7 | ) |
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Net earnings (loss) of equity affiliates | 477.8 | | | — | | | — | | | (477.8 | ) | | — | |
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Total other income (expense) | 392 | | | (3.4 | ) | | 4.5 | | | (477.8 | ) | | (84.7 | ) |
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Earnings (loss) from continuing operations before income taxes | 291.1 | | | 574.2 | | | 123.6 | | | (477.8 | ) | | 511.1 | |
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Provision (benefit) for income taxes | (58.4 | ) | | 179.7 | | | 40.3 | | | — | | | 161.6 | |
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Net earnings (loss) from continuing operations | 349.5 | | | 394.5 | | | 83.3 | | | (477.8 | ) | | 349.5 | |
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Earnings (loss) from discontinued operations, net of tax | (3.1 | ) | | — | | | (3.1 | ) | | 3.1 | | | (3.1 | ) |
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Net earnings (loss) | 346.4 | | | 394.5 | | | 80.2 | | | (474.7 | ) | | 346.4 | |
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Net (earnings) loss attributable to noncontrolling interest | (13.1 | ) | | (0.1 | ) | | (13.0 | ) | | 13.1 | | | (13.1 | ) |
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Net earnings (loss) attributable to FIS common stockholders | $ | 333.3 | | | $ | 394.4 | | | $ | 67.2 | | | $ | (461.6 | ) | | $ | 333.3 | |
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Comprehensive earnings (loss) attributable to FIS | $ | 356.1 | | | $ | 393.8 | | | $ | 89.8 | | | $ | (483.6 | ) | | $ | 356.1 | |
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| Condensed Consolidating Statements of Earnings and Comprehensive Earnings |
| Six months ended June 30, 2013 |
| | | Guarantor | | Non-guarantor | | | | |
| FIS | | subsidiaries | | subsidiaries | | Eliminations | | Consolidated |
| (in millions) |
Processing and services revenues | $ | — | | | $ | 2,340.20 | | | $ | 649.9 | | | $ | — | | | $ | 2,990.10 | |
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Operating expenses | 118.1 | | | 1,742.40 | | | 605.1 | | | — | | | 2,465.60 | |
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Operating income | (118.1 | ) | | 597.8 | | | 44.8 | | | — | | | 524.5 | |
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Other income (expense): | | | | | | | | | |
Interest expense, net | (98.3 | ) | | (0.8 | ) | | (2.0 | ) | | — | | | (101.1 | ) |
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Other income (expense) | (54.2 | ) | | 3.2 | | | (5.8 | ) | | — | | | (56.8 | ) |
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Net earnings (loss) of equity affiliates | 436.5 | | | — | | | — | | | (436.5 | ) | | — | |
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Total other income (expense) | 284 | | | 2.4 | | | (7.8 | ) | | (436.5 | ) | | (157.9 | ) |
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Earnings (loss) from continuing operations before income taxes | 165.9 | | | 600.2 | | | 37 | | | (436.5 | ) | | 366.6 | |
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Provision (benefit) for income taxes | (84.1 | ) | | 187.8 | | | 12.9 | | | — | | | 116.6 | |
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Net earnings (loss) from continuing operations | 250 | | | 412.4 | | | 24.1 | | | (436.5 | ) | | 250 | |
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Earnings (loss) from discontinued operations, net of tax | 8.4 | | | 0.1 | | | (8.4 | ) | | 8.3 | | | 8.4 | |
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Net earnings (loss) | 258.4 | | | 412.5 | | | 15.7 | | | (428.2 | ) | | 258.4 | |
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Net (earnings) loss attributable to noncontrolling interest | (9.5 | ) | | 0.3 | | | (9.8 | ) | | 9.5 | | | (9.5 | ) |
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Net earnings (loss) attributable to FIS common stockholders | $ | 248.9 | | | $ | 412.8 | | | $ | 5.9 | | | $ | (418.7 | ) | | $ | 248.9 | |
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Comprehensive earnings (loss) attributable to FIS | $ | 208.6 | | | $ | 414.5 | | | $ | (38.2 | ) | | $ | (376.3 | ) | | $ | 208.6 | |
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| Condensed Consolidating Statements of Cash Flows |
| Six months ended June 30, 2014 |
| | | Guarantor | | Non-guarantor | | | | |
| FIS | | subsidiaries | | subsidiaries | | Eliminations | | Consolidated |
| (in millions) |
Cash flows from operating activities | $ | (85.2 | ) | | $ | 521.3 | | | $ | 59.7 | | | $ | (16.7 | ) | | $ | 479.1 | |
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Cash flows from investing activities | (1.4 | ) | | (119.9 | ) | | (85.0 | ) | | — | | | (206.3 | ) |
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Cash flows from financing activities | 95.1 | | | (309.3 | ) | | 158.2 | | | 16.7 | | | (39.3 | ) |
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Effect of foreign currency exchange rates on cash | — | | | — | | | 12.7 | | | — | | | 12.7 | |
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Net increase (decrease) in cash | $ | 8.5 | | | $ | 92.1 | | | $ | 145.6 | | | $ | — | | | $ | 246.2 | |
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| Condensed Consolidating Statements of Cash Flows |
| Six months ended June 30, 2013 |
| | | Guarantor | | Non-guarantor | | | | |
| FIS | | subsidiaries | | subsidiaries | | Eliminations | | Consolidated |
| (in millions) |
Cash flows from operating activities | $ | (83.3 | ) | | $ | 451.5 | | | $ | (6.9 | ) | | $ | 3.5 | | | $ | 364.8 | |
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Cash flows from investing activities | (33.7 | ) | | (121.6 | ) | | (127.8 | ) | | — | | | (283.1 | ) |
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Cash flows from financing activities | 111.5 | | | (349.8 | ) | | 317.3 | | | (3.5 | ) | | 75.5 | |
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Effect of foreign currency exchange rates on cash | — | | | — | | | (21.7 | ) | | — | | | (21.7 | ) |
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Net increase (decrease) in cash | $ | (5.5 | ) | | $ | (19.9 | ) | | $ | 160.9 | | | $ | — | | | $ | 135.5 | |
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