FIDELITY NATIONAL INFORMATION SERVICES, INC. 45 | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------|---------------|--------------------|-------|-----------------------------| | Contract costs on implementations in progress | September \n$ | 30, 2023 \n230 | $ | December 31, 2022 \n240 | | Contract origination costs on completed implementations, net | | 547 | | 516 | | Contract fulfillment costs on completed implementations, net | | 231 | | 217 | | Tot ...

Fidelity National Information Servcs Inc. (NYSE:FIS) Q2 2023 Earnings Conference Call August 2, 2023 8:30 AM ET Company Participants George Mihalos - Head, Investor Relations Stephanie Ferris - Chief Executive Officer and President Erik Hoag - Chief Financial Officer Conference Call Participants Rayna Kumar - UBS David Togut - Evercore ISI Jason Kupferberg - Bank of America Tien-Tsin Huang - JPMorgan Dave Koning - Baird Darrin Peller - Wolfe Research Ashwin Shirvaikar - Citi James Faucette - Morgan Stanley ...

29 Revenue for the three months ended June 30, 2023, increased primarily due to strong recurring revenue growth in Banking and Capital Markets segments and increased revenue in Merchant driven by increased volumes. Selling, General and Administrative Expenses Operating Income and Operating Margin | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------|---------|----------------|-- ...

Summary of FIS and GTCR Acquisition of Worldpay Company and Industry - **Company**: Fidelity National Information Services, Inc. (FIS) - **Industry**: Financial Technology and Payment Solutions Core Points and Arguments - **Acquisition Agreement**: FIS has signed a definitive agreement for GTCR to acquire a 55% stake in Worldpay, valuing the company at $18.5 billion, which includes $1 billion in contingent consideration based on GTCR's returns exceeding certain thresholds [5][6] - **Valuation Multiple**: The transaction reflects a 9.8-times multiple on expected fiscal 2023 adjusted EBITDA, which is a 20% premium to FIS' recent valuation of approximately 8 times [6][7] - **Separation Strategy**: This transaction accelerates FIS' plan to create two independent companies, enhancing strategic flexibility and maximizing shareholder value [5][8] - **Proceeds and Financial Impact**: FIS will receive approximately $11.7 billion in net proceeds at closing, allowing the company to deleverage to approximately 2.5 times, ensuring an attractive investment-grade credit rating [8][9] - **Retained Interest**: FIS will retain a 45% ownership interest in the new joint venture with GTCR, allowing participation in future returns [8][10] - **Worldpay's Market Position**: Worldpay is the largest global merchant acquirer by transactions, processing $2 trillion in payments volume in 2022 [10] - **GTCR's Commitment**: GTCR will invest up to $1.25 billion in equity capital to support Worldpay's growth and competitive position [10] Additional Important Content - **Commercial Relationships**: The ongoing commercial agreements between FIS and Worldpay will preserve integrated value propositions for clients, minimizing potential dis-synergies [11] - **Future Outlook**: FIS is focused on improving business performance, free cash flow, and capital allocation, with a commitment to innovation and operational efficiency [14][15] - **Second Quarter Expectations**: FIS anticipates strong second quarter results, with revenue, adjusted EBITDA, and adjusted earnings per share expected to exceed the midpoint of guidance ranges [13][16]

The U.S. and Europe, the two largest geographic areas for our businesses, are experiencing slower economic growth than in recent years. In 2022, we began to experience lengthening sales cycles in Banking and Capital Markets, particularly across large transactions with a total contract value in excess of $50 million. We also experienced, and continue to experience, higher rates of inflation in these markets, including increasing wage and benefits rates, which management believes is in part due to inflation a ...

Table of Contents Commission File No. 001-16427 ________________________________________________________ Fidelity National Information Services, Inc. (Exact name of registrant as specified in its charter) (904) 438-6000 (Registrant's telephone number, including area code) Trading Name of each exchange Securities registered pursuant to Section 12(g) of the Act: None (Title of Class) Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Ye ...

| --- | --- | --- | |--------------------|-------|-------| | | | | | | | | | | | | | THIRD QUARTER 2021 | | | | EARNINGS CALL | | | | November 4, 2021 | | | | --- | --- | --- | |----------|--------------------------------------------------------------------------|-------| | SPEAKERS | | | | | BUSINESS & STRATEGY Gary Norcross Chairman and Chief Executive Officer | | | | FINANCIAL RESULTS & GUIDANCE Woody Woodall Chief Financial Officer | | DISCLOSURES 3 Forward-looking Statements Our discussions today, incl ...