Fiserv (FI) 10-Q 30 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 23, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	FISV
Entity Registrant Name	FISERV INC
Entity Central Index Key	798,354
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		234,577,658

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenue:
Processing and services	$ 1,109	$ 1,051	$ 2,176	$ 2,078
Product	189	202	397	409
Total revenue	1,298	1,253	2,573	2,487
Expenses:
Cost of processing and services	542	532	1,084	1,073
Cost of product	168	171	349	351
Selling, general and administrative	262	243	500	485
Total expenses	972	946	1,933	1,909
Operating income	326	307	640	578
Interest expense	(49)	(41)	(90)	(82)
Interest and investment income		1	1	1
Loss on early debt extinguishment	(85)		(85)
Income from continuing operations before income taxes and income from investment in unconsolidated affiliate	192	267	466	497
Income tax provision	(66)	(101)	(162)	(167)
Income from investment in unconsolidated affiliate	1		1	4
Income from continuing operations	127	166	305	334
Income (loss) from discontinued operations, net of income taxes	0	0	0	0
Net income	$ 127	$ 166	$ 305	$ 334
Net income per share - basic:
Continuing operations	$ 0.54	$ 0.66	$ 1.28	$ 1.33
Discontinued operations	0	0	0	0
Total	0.54	0.66	1.28	1.33
Net income per share - diluted:
Continuing operations	0.53	0.65	1.26	1.31
Discontinued operations	0	0	0	0
Total	$ 0.53	$ 0.65	$ 1.26	$ 1.30
Shares used in computing net income per share:
Basic	236.5	249.3	237.6	251.9
Diluted	240.4	253.4	241.7	256

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 127	$ 166	$ 305	$ 334
Other comprehensive income (loss):
Fair market value adjustment on cash flow hedges, net of income tax provision of $1 million				2
Reclassification adjustment for net realized losses on cash flow hedges included in interest expense, net of income tax provision of $3 million, $1 million, $4 million and $2 million	5	2	7	4
Foreign currency translation		3	(10)	5
Total other comprehensive income (loss)	5	5	(3)	11
Comprehensive income	$ 132	$ 171	$ 302	$ 345

Consolidated Statements of Com4

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Fair market value adjustment on cash flow hedges, tax provision				$ 1
Reclassification adjustment for net realized losses on cash flow hedges included in interest expense, tax provision	$ 3	$ 1	$ 4	$ 2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 530	$ 294
Trade accounts receivable, net	746	798
Deferred income taxes	40	42
Prepaid expenses and other current assets	398	352
Total current assets	1,714	1,486
Property and equipment, net	382	317
Intangible assets, net	1,940	2,003
Goodwill	5,204	5,209
Other long-term assets	348	322
Total assets	9,588	9,337
Liabilities and Shareholders' Equity
Accounts payable and accrued expenses	898	905
Current maturities of long-term debt	5	92
Deferred revenue	433	489
Total current liabilities	1,336	1,486
Long-term debt	4,231	3,711
Deferred income taxes	712	716
Other long-term liabilities	166	129
Total liabilities	$ 6,445	$ 6,042
Commitments and contingencies
Shareholders' equity:
Preferred stock, no par value: 25.0 million shares authorized; none issued
Common stock, $0.01 par value: 900.0 million shares authorized; 395.7 million shares issued	$ 4	$ 4
Additional paid-in capital	920	897
Accumulated other comprehensive loss	(66)	(63)
Retained earnings	7,657	7,352
Treasury stock, at cost, 160.5 million and 155.4 million shares	(5,372)	(4,895)
Total shareholders' equity	3,143	3,295
Total liabilities and shareholders' equity	$ 9,588	$ 9,337

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, no par value
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	395,700,000	395,700,000
Treasury stock, shares	160,500,000	155,400,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 305	$ 334
Adjustment for discontinued operations	0	0
Adjustments to reconcile net income to net cash provided by operating activities from continuing operations:
Depreciation and other amortization	107	96
Amortization of acquisition-related intangible assets	99	103
Share-based compensation	36	27
Excess tax benefits from share-based awards	(29)	(12)
Deferred income taxes	(9)	(27)
Income from investment in unconsolidated affiliate	(1)	(4)
Loss on early debt extinguishment	85
Dividends from unconsolidated affiliate		45
Other operating activities	1
Changes in assets and liabilities:
Trade accounts receivable	53	25
Prepaid expenses and other assets	(40)	(24)
Accounts payable and other liabilities	38	46
Deferred revenue	(45)	(40)
Net cash provided by operating activities from continuing operations	600	569
Cash flows from investing activities:
Capital expenditures, including capitalization of software costs	(203)	(150)
Other investing activities		1
Net cash used in investing activities from continuing operations	(203)	(149)
Cash flows from financing activities:
Debt proceeds	2,392	544
Debt repayments, including redemption and other costs	(2,055)	(544)
Proceeds from issuance of treasury stock	47	26
Purchases of treasury stock, including employee shares withheld for tax obligations	(574)	(528)
Excess tax benefits from share-based awards	29	12
Other financing activities		(1)
Net cash used in financing activities from continuing operations	(161)	(491)
Net change in cash and cash equivalents from continuing operations	236	(71)
Net cash flows from (to) discontinued operations	0	0
Beginning balance	294	400
Ending balance	$ 530	$ 329

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	1. Basis of Presentation The consolidated financial statements for the three-month and six-month periods ended June 30, 2015 and 2014 are unaudited. In the opinion of management, all adjustments necessary for a fair presentation of the consolidated financial statements have been included. Such adjustments consisted of normal recurring items. Interim results are not necessarily indicative of results for a full year. The consolidated financial statements and accompanying notes are presented as permitted by Form 10-Q and do not contain certain information included in the annual consolidated financial statements and accompanying notes of Fiserv, Inc. (the “Company”). These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. Principles of Consolidation The consolidated financial statements include the accounts of Fiserv, Inc. and all 100% owned subsidiaries. Investments in less than 50% owned affiliates in which the Company has significant influence but not control are accounted for using the equity method of accounting. All intercompany transactions and balances have been eliminated in consolidation.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03, Simplifying the Presentation of Debt Issuance Costs In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The Company applies fair value accounting for all assets and liabilities that are recognized or disclosed at fair value in its consolidated financial statements on a recurring basis. Fair value represents the amount that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability. The fair values of cash equivalents, trade accounts receivable, settlement assets and obligations, and accounts payable approximate their respective carrying values due to the short period of time to maturity. The estimated fair value of total debt was $4.3 billion at June 30, 2015 and $3.9 billion at December 31, 2014 and was estimated using quoted prices in inactive markets (level 2 of the fair value hierarchy) or using discounted cash flows based on the Company’s current incremental borrowing rates (level 3 of the fair value hierarchy).

Investment in Unconsolidated Af

Investment in Unconsolidated Affiliate	6 Months Ended
	Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Affiliate	4. Investment in Unconsolidated Affiliate The Company owns a 49% interest in StoneRiver Group, L.P. (“StoneRiver”), which is accounted for as an equity method investment, and reports its share of StoneRiver’s net income as income from investment in unconsolidated affiliate. The Company’s investment in StoneRiver was $22 million and $21 million at June 30, 2015 and December 31, 2014, respectively, and was reported within other long-term assets in the consolidated balance sheets. To the extent that the Company’s cost basis is different than the basis reflected at the unconsolidated affiliate level, the basis difference is generally amortized over the lives of the related assets and included in the Company’s share of equity in earnings of the unconsolidated affiliate. During the second quarter of 2014, the Company received a $45 million cash dividend from StoneRiver, funded from a capital transaction. The entire dividend represented a return on the Company’s investment and was reported as cash flows from operating activities.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	5. Share-Based Compensation The Company recognized $18 million and $36 million of share-based compensation expense during the three and six months ended June 30, 2015, respectively, and $12 million and $27 million of share-based compensation expense during the three and six months ended June 30, 2014, respectively. The Company’s annual grant of share-based awards generally occurs in the first quarter. During the six months ended June 30, 2015, the Company granted 1.1 million stock options and 0.3 million restricted stock units at weighted-average estimated fair values of $25.43 and $79.06, respectively. During the six months ended June 30, 2014, the Company granted 1.3 million stock options and 0.5 million restricted stock units at weighted-average estimated fair values of $18.80 and $57.08, respectively. During the six months ended June 30, 2015 and 2014, stock options to purchase 1.7 million and 0.8 million shares, respectively, were exercised.

Shares Used in Computing Net In

Shares Used in Computing Net Income Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Shares Used in Computing Net Income Per Share	6. Shares Used in Computing Net Income Per Share The computation of shares used in calculating basic and diluted net income per common share is as follows: Three Months June 30, Six Months June 30, (In millions) 2015 2014 2015 2014 Weighted-average common shares outstanding used for the calculation of net income per share – basic 236.5 249.3 237.6 251.9 Common stock equivalents 3.9 4.1 4.1 4.1 Weighted-average common shares outstanding used for the calculation of net income per share – diluted 240.4 253.4 241.7 256.0 For the three months ended June 30, 2015 and 2014, stock options for 1.1 million and 1.4 million shares, respectively, were excluded from the calculation of diluted weighted-average outstanding shares because their impact was anti-dilutive. For the six months ended June 30, 2015 and 2014, stock options for 0.8 million and 1.1 million shares, respectively, were excluded from the calculation of diluted weighted-average outstanding shares because their impact was anti-dilutive.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	7. Intangible Assets Intangible assets consisted of the following: (In millions) June 30, 2015 Gross Carrying Amount Accumulated Amortization Net Value Customer related intangible assets $ 2,155 $ 860 $ 1,295 Acquired software and technology 493 388 105 Trade names 120 50 70 Capitalized software development costs 557 199 358 Purchased software 259 147 112 Total $ 3,584 $ 1,644 $ 1,940 (In millions) December 31, 2014 Gross Carrying Amount Accumulated Amortization Net Value Customer related intangible assets $ 2,155 $ 797 $ 1,358 Acquired software and technology 493 356 137 Trade names 120 46 74 Capitalized software development costs 574 240 334 Purchased software 234 134 100 Total $ 3,576 $ 1,573 $ 2,003 The Company estimates that annual amortization expense with respect to acquired intangible assets, which include customer related intangible assets, acquired software and technology, and trade names, will be approximately $190 million in 2015, $150 million in 2016, $140 million in each of 2017 and 2018, and $130 million in 2019. Annual amortization expense in 2015 with respect to capitalized and purchased software is estimated to approximate $115 million.

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	6 Months Ended
	Jun. 30, 2015
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	8. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consisted of the following: (In millions) June 30, 2015 December 31, 2014 Trade accounts payable $ 77 $ 61 Client deposits 302 261 Settlement obligations 191 176 Accrued compensation and benefits 133 192 Other accrued expenses 195 215 Total $ 898 $ 905

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	9. Long-Term Debt In April 2015, the Company entered into an amended and restated revolving credit agreement that restated its existing $2.0 billion revolving credit agreement with a syndicate of banks and extended its maturity from October 2018 to April 2020. The amended and restated credit agreement also provided that the Company’s subsidiaries that were guaranteeing its obligations under the revolving credit facility were released from their respective guarantees. Borrowings under the amended revolving credit facility continue to bear interest at a variable rate based on LIBOR or on a base rate, plus a specified margin based on the Company’s long-term debt rating in effect from time to time. There are no significant commitment fees and no compensating balance requirements. The amended revolving credit facility contains various restrictions and covenants that are substantially similar to those under the Company’s previously existing credit agreement. In April 2015, the Company also entered into an amendment to its term loan facility to conform certain of its terms to those in the amended and restated credit agreement, including providing that its subsidiaries that were guaranteeing its obligations under the term loan facility were released from their respective guarantees. In addition, in April 2015, the Company provided notice to the trustee under the indenture and supplemental indentures governing its outstanding senior notes that the subsidiary guarantors of the outstanding senior notes were automatically released from all of their obligations under the supplemental indentures and their respective guarantees. In May 2015, the Company completed an offering of $1.75 billion of senior notes comprised of $850 million aggregate principal amount of 2.7% senior notes due in June 2020 and $900 million aggregate principal amount of 3.85% senior notes due in June 2025. The notes pay interest semi-annually on June 1 and December 1, commencing on December 1, 2015. The interest rate applicable to these notes is subject to an increase of up to two percent in the event that the Company’s credit rating is downgraded below investment grade. The indentures governing the senior notes contain covenants that, among other matters, limit (i) the Company’s ability to consolidate or merge into, or convey, transfer or lease all or substantially all of its properties and assets to, another person, (ii) the Company’s and certain of its subsidiaries’ ability to create or assume liens, and (iii) the Company’s and certain of its subsidiaries’ ability to engage in sale and leaseback transactions. The Company used the net proceeds from this offering to redeem its $600 million aggregate principal amount of 3.125% senior notes due in June 2016 and $500 million aggregate principal amount of 6.8% senior notes due in November 2017. The Company recorded a pre-tax loss on early debt extinguishment of $85 million related to make-whole payments and other costs associated with this redemption. In addition, the Company paid scheduled December 2015 and December 2016 principal payments on the term loan totaling $180 million and repaid outstanding borrowings under the amended and restated revolving credit facility. At June 30, 2015 and December 31, 2014, the Company’s $300 million aggregate principal amount of 3.125% senior notes due in October 2015 were classified in the consolidated balance sheets as long-term as the Company has the intent to refinance this debt on a long-term basis and the ability to do so under its amended and restated revolving credit facility.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Loss	10. Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss by component, net of income taxes, consisted of the following: (In millions) Cash Hedges Foreign Currency Translation Other Total Balance at December 31, 2014 $ (41 ) $ (20 ) $ (2 ) $ (63 ) Other comprehensive loss before reclassifications — (10 ) — (10 ) Amounts reclassified from accumulated other comprehensive loss 7 — — 7 Net current-period other comprehensive (loss) income 7 (10 ) — (3 ) Balance at June 30, 2015 $ (34 ) $ (30 ) $ (2 ) $ (66 ) (In millions) Cash Hedges Foreign Currency Translation Other Total Balance at December 31, 2013 $ (49 ) $ (9 ) $ (2 ) $ (60 ) Other comprehensive income before reclassifications 2 5 — 7 Amounts reclassified from accumulated other comprehensive loss 4 — — 4 Net current-period other comprehensive income 6 5 — 11 Balance at June 30, 2014 $ (43 ) $ (4 ) $ (2 ) $ (49 ) Based on the amounts recorded in accumulated other comprehensive loss at June 30, 2015, the Company estimates that it will recognize approximately $12 million in interest expense during the next twelve months related to settled interest rate hedge contracts. The Company has entered into foreign currency forward exchange contracts, which have been designated as cash flow hedges, to hedge foreign currency exposure to the Indian Rupee. As of June 30, 2015, the notional amount of these derivatives was approximately $57 million, and the fair value was nominal. As of December 31, 2014, the notional amount of these derivatives was approximately $73 million, and the fair value totaling approximately $1 million was recorded within current accrued expenses in the consolidated balance sheet.

Cash Flow Information

Cash Flow Information	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Cash Flow Information	11. Cash Flow Information Supplemental cash flow information was as follows: Six Months June 30, (In millions) 2015 2014 Interest paid $ 75 $ 72 Income taxes paid from continuing operations 150 137 Treasury stock purchases settled after the balance sheet date 15 —

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Business Segment Information	12. Business Segment Information The Company’s operations are comprised of the Payments and Industry Products (“Payments”) segment and the Financial Institution Services (“Financial”) segment. The Payments segment primarily provides debit, credit and prepaid card processing and services, electronic bill payment and presentment services, internet and mobile banking software and services, person-to-person payment services, and other electronic payments software and services. The businesses in this segment also provide card and print personalization services, investment account processing services for separately managed accounts, and fraud and risk management products and services. The Financial segment provides banks, thrifts, credit unions, and leasing and finance companies with account processing services, item processing and source capture services, loan origination and servicing products, cash management and consulting services, and other products and services that support numerous types of financial transactions. The Corporate and Other segment primarily consists of unallocated corporate expenses, amortization of acquisition-related intangible assets, intercompany eliminations and other costs that are not considered when management evaluates segment performance. (In millions) Payments Financial Corporate and Other Total Three Months Ended June 30, 2015 Processing and services revenue $ 540 $ 570 $ (1 ) $ 1,109 Product revenue 161 38 (10 ) 189 Total revenue $ 701 $ 608 $ (11 ) $ 1,298 Operating income $ 208 $ 209 $ (91 ) $ 326 Three Months Ended June 30, 2014 Processing and services revenue $ 501 $ 551 $ (1 ) $ 1,051 Product revenue 168 44 (10 ) 202 Total revenue $ 669 $ 595 $ (11 ) $ 1,253 Operating income $ 185 $ 203 $ (81 ) $ 307 Six Months Ended June 30, 2015 Processing and services revenue $ 1,056 $ 1,122 $ (2 ) $ 2,176 Product revenue 341 79 (23 ) 397 Total revenue $ 1,397 $ 1,201 $ (25 ) $ 2,573 Operating income $ 399 $ 413 $ (172 ) $ 640 Six Months Ended June 30, 2014 Processing and services revenue $ 992 $ 1,090 $ (4 ) $ 2,078 Product revenue 350 80 (21 ) 409 Total revenue $ 1,342 $ 1,170 $ (25 ) $ 2,487 Operating income $ 365 $ 388 $ (175 ) $ 578 As of both June 30, 2015 and December 31, 2014, goodwill was $3.4 billion and $1.8 billion in the Payments and Financial segments, respectively.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Fiserv, Inc. and all 100% owned subsidiaries. Investments in less than 50% owned affiliates in which the Company has significant influence but not control are accounted for using the equity method of accounting. All intercompany transactions and balances have been eliminated in consolidation.

Shares Used in Computing Net 21

Shares Used in Computing Net Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Weighted-Average Number of Shares	The computation of shares used in calculating basic and diluted net income per common share is as follows: Three Months June 30, Six Months June 30, (In millions) 2015 2014 2015 2014 Weighted-average common shares outstanding used for the calculation of net income per share – basic 236.5 249.3 237.6 251.9 Common stock equivalents 3.9 4.1 4.1 4.1 Weighted-average common shares outstanding used for the calculation of net income per share – diluted 240.4 253.4 241.7 256.0

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets by Class	Intangible assets consisted of the following: (In millions) June 30, 2015 Gross Carrying Amount Accumulated Amortization Net Value Customer related intangible assets $ 2,155 $ 860 $ 1,295 Acquired software and technology 493 388 105 Trade names 120 50 70 Capitalized software development costs 557 199 358 Purchased software 259 147 112 Total $ 3,584 $ 1,644 $ 1,940 (In millions) December 31, 2014 Gross Carrying Amount Accumulated Amortization Net Value Customer related intangible assets $ 2,155 $ 797 $ 1,358 Acquired software and technology 493 356 137 Trade names 120 46 74 Capitalized software development costs 574 240 334 Purchased software 234 134 100 Total $ 3,576 $ 1,573 $ 2,003

Accounts Payable and Accrued 23

Accounts Payable and Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2015
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses consisted of the following: (In millions) June 30, 2015 December 31, 2014 Trade accounts payable $ 77 $ 61 Client deposits 302 261 Settlement obligations 191 176 Accrued compensation and benefits 133 192 Other accrued expenses 195 215 Total $ 898 $ 905

Accumulated Other Comprehensi24

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Changes in accumulated other comprehensive loss by component, net of income taxes, consisted of the following: (In millions) Cash Hedges Foreign Currency Translation Other Total Balance at December 31, 2014 $ (41 ) $ (20 ) $ (2 ) $ (63 ) Other comprehensive loss before reclassifications — (10 ) — (10 ) Amounts reclassified from accumulated other comprehensive loss 7 — — 7 Net current-period other comprehensive (loss) income 7 (10 ) — (3 ) Balance at June 30, 2015 $ (34 ) $ (30 ) $ (2 ) $ (66 ) (In millions) Cash Hedges Foreign Currency Translation Other Total Balance at December 31, 2013 $ (49 ) $ (9 ) $ (2 ) $ (60 ) Other comprehensive income before reclassifications 2 5 — 7 Amounts reclassified from accumulated other comprehensive loss 4 — — 4 Net current-period other comprehensive income 6 5 — 11 Balance at June 30, 2014 $ (43 ) $ (4 ) $ (2 ) $ (49 )

Cash Flow Information (Tables)

Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information was as follows: Six Months June 30, (In millions) 2015 2014 Interest paid $ 75 $ 72 Income taxes paid from continuing operations 150 137 Treasury stock purchases settled after the balance sheet date 15 —

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	(In millions) Payments Financial Corporate and Other Total Three Months Ended June 30, 2015 Processing and services revenue $ 540 $ 570 $ (1 ) $ 1,109 Product revenue 161 38 (10 ) 189 Total revenue $ 701 $ 608 $ (11 ) $ 1,298 Operating income $ 208 $ 209 $ (91 ) $ 326 Three Months Ended June 30, 2014 Processing and services revenue $ 501 $ 551 $ (1 ) $ 1,051 Product revenue 168 44 (10 ) 202 Total revenue $ 669 $ 595 $ (11 ) $ 1,253 Operating income $ 185 $ 203 $ (81 ) $ 307 Six Months Ended June 30, 2015 Processing and services revenue $ 1,056 $ 1,122 $ (2 ) $ 2,176 Product revenue 341 79 (23 ) 397 Total revenue $ 1,397 $ 1,201 $ (25 ) $ 2,573 Operating income $ 399 $ 413 $ (172 ) $ 640 Six Months Ended June 30, 2014 Processing and services revenue $ 992 $ 1,090 $ (4 ) $ 2,078 Product revenue 350 80 (21 ) 409 Total revenue $ 1,342 $ 1,170 $ (25 ) $ 2,487 Operating income $ 365 $ 388 $ (175 ) $ 578

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Billions	Jun. 30, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Fair value of total debt	$ 4.3	$ 3.9

Investment in Unconsolidated 28

Investment in Unconsolidated Affiliate - Additional Information (Detail) - StoneRiver Group, L.P. [Member] - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Percentage of interest owned in affiliate		49.00%
Investments in affiliate		$ 22	$ 21
Cash dividends on capital transactions from affiliate	$ 45

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 18	$ 12	$ 36	$ 27
Share-based awards, stock options, granted			1.1	1.3
Share-based awards, stock options, weighted-average estimated fair values			$ 25.43	$ 18.80
Share-based awards, stock options, exercised			1.7	0.8
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards, restricted stock units, granted			0.3	0.5
Share-based awards, restricted stock units, weighted-average estimated fair values			$ 79.06	$ 57.08

Shares Used in Computing Net 30

Shares Used in Computing Net Income Per Share - Schedule of Weighted-Average Number of Shares (Detail) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Weighted-average common shares outstanding used for the calculation of net income per share - basic	236.5	249.3	237.6	251.9
Common stock equivalents	3.9	4.1	4.1	4.1
Weighted-average common shares outstanding used for the calculation of net income per share - diluted	240.4	253.4	241.7	256

Shares Used in Computing Net 31

Shares Used in Computing Net Income Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Stock options excluded from the calculation of diluted weighted-average outstanding shares because their impact was anti-dilutive	1.1	1.4	0.8	1.1

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets by Class (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,584	$ 3,576
Accumulated Amortization	1,644	1,573
Net Book Value	1,940	2,003
Customer Related Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,155	2,155
Accumulated Amortization	860	797
Net Book Value	1,295	1,358
Acquired Software and Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	493	493
Accumulated Amortization	388	356
Net Book Value	105	137
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	120	120
Accumulated Amortization	50	46
Net Book Value	70	74
Capitalized Software Development Costs [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	557	574
Accumulated Amortization	199	240
Net Book Value	358	334
Purchased Software [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	259	234
Accumulated Amortization	147	134
Net Book Value	$ 112	$ 100

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) $ in Millions	Jun. 30, 2015USD ($)
Acquired Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
2,015	$ 190
2,016	150
2,017	140
2,018	140
2,019	130
Capitalized and Purchased Software [Member]
Finite-Lived Intangible Assets [Line Items]
2,015	$ 115

Accounts Payable and Accrued 34

Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accrued Expenses (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Trade accounts payable	$ 77	$ 61
Client deposits	302	261
Settlement obligations	191	176
Accrued compensation and benefits	133	192
Other accrued expenses	195	215
Total	$ 898	$ 905

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($)	Apr. 30, 2015	May. 31, 2015	Apr. 30, 2015	Jun. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Senior notes		$ 1,750,000,000
Loss on early debt extinguishment				$ (85,000,000)	$ (85,000,000)
2.7% Senior Notes Due June 2020 [Member]
Debt Instrument [Line Items]
Senior notes		$ 850,000,000
Debt interest rate		2.70%
Debt maturity date		2020-06
Senior notes, interest rate increase in the event the Company's credit rating is downgraded below investment grade		2.00%
2.7% Senior Notes Due June 2020 [Member] | First Installment [Member]
Debt Instrument [Line Items]
Senior notes, interest payment date		--06-01
2.7% Senior Notes Due June 2020 [Member] | Second Installment [Member]
Debt Instrument [Line Items]
Senior notes, interest payment date		--12-01
3.85% Senior Notes Due June 2025 [Member]
Debt Instrument [Line Items]
Senior notes		$ 900,000,000
Debt interest rate		3.85%
Debt maturity date		2025-06
Senior notes, interest rate increase in the event the Company's credit rating is downgraded below investment grade		2.00%
3.85% Senior Notes Due June 2025 [Member] | First Installment [Member]
Debt Instrument [Line Items]
Senior notes, interest payment date		--06-01
3.85% Senior Notes Due June 2025 [Member] | Second Installment [Member]
Debt Instrument [Line Items]
Senior notes, interest payment date		--12-01
3.125% Senior Notes Due June 2016 [Member]
Debt Instrument [Line Items]
Debt interest rate				3.125%	3.125%
Face value of the debt repaid					$ 600,000,000
6.8% Senior Notes Due November 2017 [Member]
Debt Instrument [Line Items]
Debt interest rate				6.80%	6.80%
Face value of the debt repaid					$ 500,000,000
Term Loan [Member]
Debt Instrument [Line Items]
Repayment of debt					180,000,000
3.125% Senior Notes Due October 2015 [Member]
Debt Instrument [Line Items]
Senior notes				$ 300,000,000	$ 300,000,000	$ 300,000,000
Debt interest rate				3.125%	3.125%	3.125%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility with a syndicate of banks	$ 2,000,000,000		$ 2,000,000,000
Commitment fees			0
Compensating balance requirements	$ 0		$ 0
Revolving Credit Facility [Member] | After Amendment [Member]
Debt Instrument [Line Items]
Revolving credit facility, expiration date	Apr. 30, 2020
Revolving Credit Facility [Member] | Before Amendment [Member]
Debt Instrument [Line Items]
Revolving credit facility, expiration date	Oct. 25, 2018

Accumulated Other Comprehensi36

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at Beginning of the period			$ (63)	$ (60)
Other comprehensive income (loss) before reclassifications			(10)	7
Amounts reclassified from accumulated other comprehensive loss			7	4
Total other comprehensive income (loss)	$ 5	$ 5	(3)	11
Balance at End of the period	(66)	(49)	(66)	(49)
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at Beginning of the period			(41)	(49)
Other comprehensive income (loss) before reclassifications				2
Amounts reclassified from accumulated other comprehensive loss			7	4
Total other comprehensive income (loss)			7	6
Balance at End of the period	(34)	(43)	(34)	(43)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at Beginning of the period			(20)	(9)
Other comprehensive income (loss) before reclassifications			(10)	5
Total other comprehensive income (loss)			(10)	5
Balance at End of the period	(30)	(4)	(30)	(4)
Other [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at Beginning of the period			(2)	(2)
Balance at End of the period	$ (2)	$ (2)	$ (2)	$ (2)

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Loss - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Estimated interest expense related to settled interest rate hedge contracts during the next twelve months	$ 12
Foreign Currency Forward Exchange Contracts [Member] | India, Rupees
Accumulated Other Comprehensive Income (Loss) [Line Items]
Notional amount of derivative	$ 57	$ 73
Total fair value of cash flow hedge derivatives		$ 1

Cash Flow Information - Schedul

Cash Flow Information - Schedule of Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 75	$ 72
Income taxes paid from continuing operations	150	$ 137
Treasury stock purchases settled after the balance sheet date	$ 15

Business Segment Information -

Business Segment Information - Schedule of Segment Reporting Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Processing and services revenue	$ 1,109	$ 1,051	$ 2,176	$ 2,078
Product revenue	189	202	397	409
Total revenue	1,298	1,253	2,573	2,487
Operating income	326	307	640	578
Payments [Member]
Segment Reporting Information [Line Items]
Processing and services revenue	540	501	1,056	992
Product revenue	161	168	341	350
Total revenue	701	669	1,397	1,342
Operating income	208	185	399	365
Financial [Member]
Segment Reporting Information [Line Items]
Processing and services revenue	570	551	1,122	1,090
Product revenue	38	44	79	80
Total revenue	608	595	1,201	1,170
Operating income	209	203	413	388
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Processing and services revenue	(1)	(1)	(2)	(4)
Product revenue	(10)	(10)	(23)	(21)
Total revenue	(11)	(11)	(25)	(25)
Operating income	$ (91)	$ (81)	$ (172)	$ (175)

Business Segment Information 40

Business Segment Information - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Goodwill	$ 5,204	$ 5,209
Payments [Member]
Segment Reporting Information [Line Items]
Goodwill	3,400	3,400
Financial [Member]
Segment Reporting Information [Line Items]
Goodwill	$ 1,800	$ 1,800