Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Fidelity National Information Services, Inc. | a8-khealthcarebenefitsolut.htm |
Fidelity National Information Services, Inc.
Supplemental Financial Information
July 3, 2012
Exhibit A | FIS Summary Recast Supplemental Non-GAAP Information - Unaudited for the quarters ended March 31, 2012 and March 31, June 30, September 30, and December 31, 2011 and full year 2011 and 2010. |
Exhibit B | FIS Recast Supplemental GAAP to Non-GAAP Reconciliation - Unaudited for the quarters ended March 31, 2012 and March 31, June 30, September 30, and December 31, 2011 and full year 2011 and 2010. |
Exhibit C | FIS Summary Recast Supplemental Non-GAAP Information - Unaudited for the quarters ended March 31, 2012 and March 31, June 30, September 30, and December 31, 2011 and full year 2011 and 2010. |
Exhibit D | FIS Recast Supplemental Non-GAAP Financial Information - Unaudited for the quarters ended March 31, 2012 and March 31, June 30, September 30, and December 31, 2011 and full year 2011 and 2010. |
FIDELITY NATIONAL INFORMATION SERVICES, INC.
SUMMARY RECAST SUPPLEMENTAL NON-GAAP INFORMATION - UNAUDITED
(in millions)
Exhibit A | ||||||||||||||||||||||||||||
Non-GAAP Three Months Ended | Non-GAAP Twelve Months Ended | |||||||||||||||||||||||||||
March 31, | December 31, | September 30, | June 30, | March 31, | December 31, | December 31, | ||||||||||||||||||||||
2012 | 2011 | 2011 | 2011 | 2011 | 2011 | 2010 | ||||||||||||||||||||||
Processing and services revenue | $ | 1,413.4 | $ | 1,461.3 | $ | 1,398.2 | $ | 1,413.3 | $ | 1,352.8 | $ | 5,625.6 | $ | 5,080.8 | ||||||||||||||
Cost of revenues | 928.5 | 928.1 | 904.9 | 929.1 | 914.4 | 3,676.5 | 3,300.9 | |||||||||||||||||||||
Gross profit | 484.9 | 533.2 | 493.3 | 484.2 | 438.4 | 1,949.1 | 1,779.9 | |||||||||||||||||||||
Selling, general and administrative | 182.9 | 174.4 | 159.7 | 169.3 | 166.8 | 670.2 | 530.8 | |||||||||||||||||||||
Operating income (loss) | 302.0 | 358.8 | 333.6 | 314.9 | 271.6 | 1,278.9 | 1,249.1 | |||||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||
Interest income (expense), net | (59.4 | ) | (64.5 | ) | (60.5 | ) | (65.8 | ) | (68.0 | ) | (258.8 | ) | (173.0 | ) | ||||||||||||||
Other income (expense), net | (2.5 | ) | 6.8 | (0.8 | ) | (0.2 | ) | 3.3 | 9.1 | 0.4 | ||||||||||||||||||
Total other income (expense) | (61.9 | ) | (57.7 | ) | (61.3 | ) | (66.0 | ) | (64.7 | ) | (249.7 | ) | (172.6 | ) | ||||||||||||||
Earnings (loss) from continuing operations before income taxes | 240.1 | 301.1 | 272.3 | 248.9 | 206.9 | 1,029.2 | 1,076.5 | |||||||||||||||||||||
Provision for income taxes | 80.5 | 101.5 | 82.9 | 79.4 | 72.4 | 336.2 | 378.3 | |||||||||||||||||||||
Earnings (loss) from continuing operations, net of tax | 159.6 | 199.6 | 189.4 | 169.5 | 134.5 | 693.0 | 698.2 | |||||||||||||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (3.1 | ) | (1.3 | ) | (5.8 | ) | (1.8 | ) | 0.7 | (8.2 | ) | (26.9 | ) | |||||||||||||||
Net earnings (loss) | 156.5 | 198.3 | 183.6 | 167.7 | 135.2 | 684.8 | 671.3 | |||||||||||||||||||||
Net (earnings) loss attributable to noncontrolling interest | (3.0 | ) | (5.0 | ) | (3.9 | ) | (1.8 | ) | (0.8 | ) | (11.5 | ) | (3.5 | ) | ||||||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 153.5 | $ | 193.3 | $ | 179.7 | $ | 165.9 | $ | 134.4 | $ | 673.3 | $ | 667.8 | ||||||||||||||
Amounts attributable to FIS common stockholders | ||||||||||||||||||||||||||||
Earnings (loss) from continuing operations, net of tax | $ | 156.6 | $ | 194.6 | $ | 185.5 | $ | 167.7 | $ | 133.7 | $ | 681.5 | $ | 694.7 | ||||||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (3.1 | ) | (1.3 | ) | (5.8 | ) | (1.8 | ) | 0.7 | (8.2 | ) | (26.9 | ) | |||||||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 153.5 | $ | 193.3 | $ | 179.7 | $ | 165.9 | $ | 134.4 | $ | 673.3 | $ | 667.8 | ||||||||||||||
Net earnings (loss) per share — diluted from continuing operations attributable to FIS common stockholders* | $ | 0.53 | $ | 0.65 | $ | 0.60 | $ | 0.54 | $ | 0.43 | $ | 2.22 | $ | 1.97 | ||||||||||||||
Weighted average shares outstanding — diluted | 295.4 | 301.3 | 306.8 | 310.9 | 308.7 | 307.0 | 352.0 | |||||||||||||||||||||
Effective tax rate | 34 | % | 34 | % | 30 | % | 32 | % | 35 | % | 33 | % | 35 | % | ||||||||||||||
* Amounts may not sum due to rounding.
1
FIDELITY NATIONAL INFORMATION SERVICES, INC.
RECAST SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATION — UNAUDITED
(In millions)
Exhibit B | ||||||||||||||||||||||||||||||||
GAAP | Non-GAAP | |||||||||||||||||||||||||||||||
Three | Three | |||||||||||||||||||||||||||||||
As | Healthcare | Months | Months | |||||||||||||||||||||||||||||
Reported | Benefit | Ended | Stock and Other | Long-term | Purchase | Ended | ||||||||||||||||||||||||||
March 31, | Solutions | March 31, | Compensation | Debt | Price | March 31, | ||||||||||||||||||||||||||
2012 (1) | Business (2) | 2012 | Charges (3) | Refinance (4) | Subtotal | Amort. (11) | 2012 | |||||||||||||||||||||||||
Processing and services revenue | $ | 1,446.9 | $ | 33.5 | $ | 1,413.4 | $ | — | $ | — | $ | 1,413.4 | $ | — | $ | 1,413.4 | ||||||||||||||||
Cost of revenues | 1,010.3 | 20.8 | 989.5 | — | — | 989.5 | (61.0 | ) | 928.5 | |||||||||||||||||||||||
Gross profit | 436.6 | 12.7 | 423.9 | — | — | 423.9 | 61.0 | 484.9 | ||||||||||||||||||||||||
Selling, general and administrative | 207.1 | 5.7 | 201.4 | (18.5 | ) | — | 182.9 | — | 182.9 | |||||||||||||||||||||||
Operating income (loss) | 229.5 | 7.0 | 222.5 | 18.5 | — | 241.0 | 61.0 | 302.0 | ||||||||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||
Interest income (expense), net | (59.4 | ) | — | (59.4 | ) | — | — | (59.4 | ) | — | (59.4 | ) | ||||||||||||||||||||
Other income (expense), net | (20.9 | ) | — | (20.9 | ) | — | 18.4 | (2.5 | ) | — | (2.5 | ) | ||||||||||||||||||||
Total other income (expense) | (80.3 | ) | — | (80.3 | ) | — | 18.4 | (61.9 | ) | — | (61.9 | ) | ||||||||||||||||||||
Earnings (loss) from continuing operations before income taxes | 149.2 | 7.0 | 142.2 | 18.5 | 18.4 | 179.1 | 61.0 | 240.1 | ||||||||||||||||||||||||
Provision for income taxes | 50.4 | 2.7 | 47.7 | 6.2 | 6.2 | 60.1 | 20.4 | 80.5 | ||||||||||||||||||||||||
Earnings (loss) from continuing operations, net of tax | 98.8 | 4.3 | 94.5 | 12.3 | 12.2 | 119.0 | 40.6 | 159.6 | ||||||||||||||||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (8.7 | ) | (4.3 | ) | (4.4 | ) | — | — | (4.4 | ) | 1.3 | (3.1 | ) | |||||||||||||||||||
Net earnings (loss) | 90.1 | — | 90.1 | 12.3 | 12.2 | 114.6 | 41.9 | 156.5 | ||||||||||||||||||||||||
Net (earnings) loss attributable to noncontrolling interest | (3.0 | ) | — | (3.0 | ) | — | — | (3.0 | ) | — | (3.0 | ) | ||||||||||||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 87.1 | $ | — | $ | 87.1 | $ | 12.3 | $ | 12.2 | $ | 111.6 | $ | 41.9 | $ | 153.5 | ||||||||||||||||
Amounts attributable to FIS common stockholders | ||||||||||||||||||||||||||||||||
Earnings (loss) from continuing operations, net of tax | $ | 95.8 | $ | 4.3 | $ | 91.5 | $ | 12.3 | $ | 12.2 | $ | 116.0 | $ | 40.6 | $ | 156.6 | ||||||||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (8.7 | ) | (4.3 | ) | (4.4 | ) | — | — | (4.4 | ) | 1.3 | (3.1 | ) | |||||||||||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 87.1 | $ | — | $ | 87.1 | $ | 12.3 | $ | 12.2 | $ | 111.6 | $ | 41.9 | $ | 153.5 | ||||||||||||||||
Net earnings (loss) per share — diluted from continuing operations attributable to FIS common stockholders* | $ | 0.32 | $ | 0.01 | $ | 0.31 | $ | 0.04 | $ | 0.04 | $ | 0.39 | $ | 0.14 | $ | 0.53 | ||||||||||||||||
Weighted average shares outstanding — diluted | 295.4 | 295.4 | 295.4 | 295.4 | 295.4 | 295.4 | 295.4 | 295.4 | ||||||||||||||||||||||||
Effective tax rate | 34 | % | 34 | % | ||||||||||||||||||||||||||||
Supplemental information: | ||||||||||||||||||||||||||||||||
Depreciation and amortization | $ | 153.9 | (61.0 | ) | $ | 92.9 | ||||||||||||||||||||||||||
Stock compensation expense, excluding acceleration charges | $ | 18.0 | ||||||||||||||||||||||||||||||
Stock acceleration charges | 8.3 | |||||||||||||||||||||||||||||||
Total stock compensation expense | $ | 26.3 | ||||||||||||||||||||||||||||||
* Amounts may not sum due to rounding.
See accompanying notes.
2
FIDELITY NATIONAL INFORMATION SERVICES, INC.
RECAST SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATION — UNAUDITED
(In millions)
Exhibit B (continued) | ||||||||||||||||||||||||||||||||||||
GAAP | Non-GAAP | |||||||||||||||||||||||||||||||||||
Three | Long | Three | ||||||||||||||||||||||||||||||||||
As | Healthcare | Months | Term | Months | ||||||||||||||||||||||||||||||||
Reported | Benefit | Ended | Debt | Investment | Purchase | Ended | ||||||||||||||||||||||||||||||
December 31, | Solutions | December 31, | Capco | Refinance | Impairment | Price | December 31, | |||||||||||||||||||||||||||||
2011 (1) | Business (2) | 2011 | Adj. (5) | (6) | (7) | Subtotal | Amort. (11) | 2011 | ||||||||||||||||||||||||||||
Processing and services revenue | $ | 1,494.4 | $ | 33.1 | $ | 1,461.3 | $ | — | $ | — | $ | — | $ | 1,461.3 | $ | — | $ | 1,461.3 | ||||||||||||||||||
Cost of revenues | 1,010.2 | 22.1 | 988.1 | — | — | — | 988.1 | (60.0 | ) | 928.1 | ||||||||||||||||||||||||||
Gross profit | 484.2 | 11.0 | 473.2 | — | — | — | 473.2 | 60.0 | 533.2 | |||||||||||||||||||||||||||
Selling, general and administrative | 157.5 | 5.4 | 152.1 | 22.3 | — | — | 174.4 | — | 174.4 | |||||||||||||||||||||||||||
Impairment charges | 9.1 | — | 9.1 | (9.1 | ) | — | — | — | — | — | ||||||||||||||||||||||||||
Operating income (loss) | 317.6 | 5.6 | 312.0 | (13.2 | ) | — | — | 298.8 | 60.0 | 358.8 | ||||||||||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||||||
Interest income (expense), net | (64.5 | ) | — | (64.5 | ) | — | — | — | (64.5 | ) | — | (64.5 | ) | |||||||||||||||||||||||
Other income (expense), net | (66.1 | ) | (0.1 | ) | (66.0 | ) | — | 38.8 | 34.0 | 6.8 | — | 6.8 | ||||||||||||||||||||||||
Total other income (expense) | (130.6 | ) | (0.1 | ) | (130.5 | ) | — | 38.8 | 34.0 | (57.7 | ) | — | (57.7 | ) | ||||||||||||||||||||||
Earnings (loss) from continuing operations before income taxes | 187.0 | 5.5 | 181.5 | (13.2 | ) | 38.8 | 34.0 | 241.1 | 60.0 | 301.1 | ||||||||||||||||||||||||||
Provision for income taxes | 59.0 | 2.1 | 56.9 | 2.9 | 12.2 | 10.7 | 82.7 | 18.8 | 101.5 | |||||||||||||||||||||||||||
Earnings (loss) from continuing operations, net of tax | 128.0 | 3.4 | 124.6 | (16.1 | ) | 26.6 | 23.3 | 158.4 | 41.2 | 199.6 | ||||||||||||||||||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (6.0 | ) | (3.4 | ) | (2.6 | ) | — | — | — | (2.6 | ) | 1.3 | (1.3 | ) | ||||||||||||||||||||||
Net earnings (loss) | 122.0 | — | 122.0 | (16.1 | ) | 26.6 | 23.3 | 155.8 | 42.5 | 198.3 | ||||||||||||||||||||||||||
Net (earnings) loss attributable to noncontrolling interest | (5.0 | ) | — | (5.0 | ) | — | — | — | (5.0 | ) | — | (5.0 | ) | |||||||||||||||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 117.0 | $ | — | $ | 117.0 | $ | (16.1 | ) | $ | 26.6 | $ | 23.3 | $ | 150.8 | $ | 42.5 | $ | 193.3 | |||||||||||||||||
Amounts attributable to FIS common stockholders | ||||||||||||||||||||||||||||||||||||
Earnings (loss) from continuing operations, net of tax | $ | 123.0 | $ | 3.4 | $ | 119.6 | $ | (16.1 | ) | $ | 26.6 | $ | 23.3 | $ | 153.4 | $ | 41.2 | $ | 194.6 | |||||||||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (6.0 | ) | (3.4 | ) | (2.6 | ) | — | — | — | (2.6 | ) | 1.3 | (1.3 | ) | ||||||||||||||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 117.0 | $ | — | $ | 117.0 | $ | (16.1 | ) | $ | 26.6 | $ | 23.3 | $ | 150.8 | $ | 42.5 | $ | 193.3 | |||||||||||||||||
Net earnings (loss) per share — diluted from continuing operations attributable to FIS common stockholders* | $ | 0.41 | $ | 0.01 | $ | 0.40 | $ | (0.05 | ) | $ | 0.09 | $ | 0.08 | $ | 0.51 | $ | 0.14 | $ | 0.65 | |||||||||||||||||
Weighted average shares outstanding — diluted | 301.3 | 301.3 | 301.3 | 301.3 | 301.3 | 301.3 | 301.3 | 301.3 | 301.3 | |||||||||||||||||||||||||||
Effective tax rate | 32 | % | 34 | % | ||||||||||||||||||||||||||||||||
Supplemental information: | ||||||||||||||||||||||||||||||||||||
Depreciation and amortization | $ | 161.4 | (60.0 | ) | $ | 101.4 | ||||||||||||||||||||||||||||||
Stock compensation expense, excluding acceleration charges | $ | 18.7 | ||||||||||||||||||||||||||||||||||
Stock acceleration charges | — | |||||||||||||||||||||||||||||||||||
Total stock compensation expense | $ | 18.7 | ||||||||||||||||||||||||||||||||||
* Amounts may not sum due to rounding.
See accompanying notes.
3
FIDELITY NATIONAL INFORMATION SERVICES, INC.
RECAST SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATION — UNAUDITED
(In millions)
Exhibit B (continued) | ||||||||||||||||||||
GAAP | Non-GAAP | |||||||||||||||||||
Three | Three | |||||||||||||||||||
As | Healthcare | Months | Months | |||||||||||||||||
Reported | Benefit | Ended | Purchase | Ended | ||||||||||||||||
September 30, | Solutions | September 30, | Price | September 30, | ||||||||||||||||
2011 (1) | Business (2) | 2011 | Amort. (11) | 2011 | ||||||||||||||||
Processing and services revenue | $ | 1,426.2 | $ | 28.0 | $ | 1,398.2 | $ | — | $ | 1,398.2 | ||||||||||
Cost of revenues | 984.3 | 19.0 | 965.3 | (60.4 | ) | 904.9 | ||||||||||||||
Gross profit | 441.9 | 9.0 | 432.9 | 60.4 | 493.3 | |||||||||||||||
Selling, general and administrative | 165.5 | 5.8 | 159.7 | — | 159.7 | |||||||||||||||
Operating income (loss) | 276.4 | 3.2 | 273.2 | 60.4 | 333.6 | |||||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest income (expense), net | (60.5 | ) | — | (60.5 | ) | — | (60.5 | ) | ||||||||||||
Other income (expense), net | (0.7 | ) | 0.1 | (0.8 | ) | — | (0.8 | ) | ||||||||||||
Total other income (expense) | (61.2 | ) | 0.1 | (61.3 | ) | — | (61.3 | ) | ||||||||||||
Earnings (loss) from continuing operations before income taxes | 215.2 | 3.3 | 211.9 | 60.4 | 272.3 | |||||||||||||||
Provision for income taxes | 65.9 | 1.3 | 64.6 | 18.3 | 82.9 | |||||||||||||||
Earnings (loss) from continuing operations, net of tax | 149.3 | 2.0 | 147.3 | 42.1 | 189.4 | |||||||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (9.1 | ) | (2.0 | ) | (7.1 | ) | 1.3 | (5.8 | ) | |||||||||||
Net earnings (loss) | 140.2 | — | 140.2 | 43.4 | 183.6 | |||||||||||||||
Net (earnings) loss attributable to noncontrolling interest | (3.9 | ) | — | (3.9 | ) | — | (3.9 | ) | ||||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 136.3 | $ | — | $ | 136.3 | $ | 43.4 | $ | 179.7 | ||||||||||
Amounts attributable to FIS common stockholders | ||||||||||||||||||||
Earnings (loss) from continuing operations, net of tax | $ | 145.4 | $ | 2.0 | $ | 143.4 | $ | 42.1 | $ | 185.5 | ||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (9.1 | ) | (2.0 | ) | (7.1 | ) | 1.3 | (5.8 | ) | |||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 136.3 | $ | — | $ | 136.3 | $ | 43.4 | $ | 179.7 | ||||||||||
Net earnings (loss) per share — diluted from continuing operations attributable to FIS common stockholders* | $ | 0.47 | $ | 0.01 | $ | 0.47 | $ | 0.14 | $ | 0.60 | ||||||||||
Weighted average shares outstanding — diluted | 306.8 | 306.8 | 306.8 | 306.8 | 306.8 | |||||||||||||||
Effective tax rate | 31 | % | 30 | % | ||||||||||||||||
Supplemental information: | ||||||||||||||||||||
Depreciation and amortization | $ | 157.0 | (60.4 | ) | $ | 96.6 | ||||||||||||||
Stock compensation expense, excluding acceleration charges | $ | 14.9 | ||||||||||||||||||
Stock acceleration charges | — | |||||||||||||||||||
Total stock compensation expense | $ | 14.9 | ||||||||||||||||||
* Amounts may not sum due to rounding.
See accompanying notes.
4
FIDELITY NATIONAL INFORMATION SERVICES, INC.
RECAST SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATION — UNAUDITED
(In millions)
Exhibit B (continued) | ||||||||||||||||||||
GAAP | Non-GAAP | |||||||||||||||||||
Three | Three | |||||||||||||||||||
As | Healthcare | Months | Months | |||||||||||||||||
Reported | Benefit | Ended | Purchase | Ended | ||||||||||||||||
June 30, | Solutions | June 30, | Price | June 30, | ||||||||||||||||
2011 (1) | Business (2) | 2011 | Amort. (11) | 2011 | ||||||||||||||||
Processing and services revenue | $ | 1,441.7 | $ | 28.4 | $ | 1,413.3 | $ | — | $ | 1,413.3 | ||||||||||
Cost of revenues | 1,007.5 | 18.1 | 989.4 | (60.3 | ) | 929.1 | ||||||||||||||
Gross profit | 434.2 | 10.3 | 423.9 | 60.3 | 484.2 | |||||||||||||||
Selling, general and administrative | 175.3 | 6.0 | 169.3 | — | 169.3 | |||||||||||||||
Operating income (loss) | 258.9 | 4.3 | 254.6 | 60.3 | 314.9 | |||||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest income (expense), net | (65.8 | ) | — | (65.8 | ) | — | (65.8 | ) | ||||||||||||
Other income (expense), net | (0.2 | ) | — | (0.2 | ) | — | (0.2 | ) | ||||||||||||
Total other income (expense) | (66.0 | ) | — | (66.0 | ) | — | (66.0 | ) | ||||||||||||
Earnings (loss) from continuing operations before income taxes | 192.9 | 4.3 | 188.6 | 60.3 | 248.9 | |||||||||||||||
Provision for income taxes | 61.8 | 1.6 | 60.2 | 19.2 | 79.4 | |||||||||||||||
Earnings (loss) from continuing operations, net of tax | 131.1 | 2.7 | 128.4 | 41.1 | 169.5 | |||||||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (5.8 | ) | (2.7 | ) | (3.1 | ) | 1.3 | (1.8 | ) | |||||||||||
Net earnings (loss) | 125.3 | — | 125.3 | 42.4 | 167.7 | |||||||||||||||
Net (earnings) loss attributable to noncontrolling interest | (1.8 | ) | — | (1.8 | ) | — | (1.8 | ) | ||||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 123.5 | $ | — | $ | 123.5 | $ | 42.4 | $ | 165.9 | ||||||||||
Amounts attributable to FIS common stockholders | ||||||||||||||||||||
Earnings (loss) from continuing operations, net of tax | $ | 129.3 | $ | 2.7 | $ | 126.6 | $ | 41.1 | $ | 167.7 | ||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (5.8 | ) | (2.7 | ) | (3.1 | ) | 1.3 | (1.8 | ) | |||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 123.5 | $ | — | $ | 123.5 | $ | 42.4 | $ | 165.9 | ||||||||||
Net earnings (loss) per share — diluted from continuing operations attributable to FIS common stockholders* | $ | 0.42 | $ | 0.01 | $ | 0.41 | $ | 0.13 | $ | 0.54 | ||||||||||
Weighted average shares outstanding — diluted | 310.9 | 310.9 | 310.9 | 310.9 | 310.9 | |||||||||||||||
Effective tax rate | 32 | % | 32 | % | ||||||||||||||||
Supplemental information: | ||||||||||||||||||||
Depreciation and amortization | $ | 151.9 | (60.3 | ) | $ | 91.6 | ||||||||||||||
Stock compensation expense, excluding acceleration charges | $ | 15.7 | ||||||||||||||||||
Stock acceleration charges | — | |||||||||||||||||||
Total stock compensation expense | $ | 15.7 | ||||||||||||||||||
* Amounts may not sum due to rounding.
See accompanying notes.
5
FIDELITY NATIONAL INFORMATION SERVICES, INC.
RECAST SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATION — UNAUDITED
(In millions)
Exhibit B (continued) | ||||||||||||||||||||
GAAP | Non-GAAP | |||||||||||||||||||
Three | Three | |||||||||||||||||||
As | Healthcare | Months | Months | |||||||||||||||||
Reported | Benefit | Ended | Purchase | Ended | ||||||||||||||||
March 31, | Solutions | March 31, | Price | March 31, | ||||||||||||||||
2011 (1) | Business (2) | 2011 | Amort. (11) | 2011 | ||||||||||||||||
Processing and services revenue | $ | 1,383.4 | $ | 30.6 | $ | 1,352.8 | $ | — | $ | 1,352.8 | ||||||||||
Cost of revenues | 996.0 | 19.7 | 976.3 | (61.9 | ) | 914.4 | ||||||||||||||
Gross profit | 387.4 | 10.9 | 376.5 | 61.9 | 438.4 | |||||||||||||||
Selling, general and administrative | 173.5 | 6.7 | 166.8 | — | 166.8 | |||||||||||||||
Operating income (loss) | 213.9 | 4.2 | 209.7 | 61.9 | 271.6 | |||||||||||||||
Other income (expense): | ||||||||||||||||||||
Interest income (expense), net | (68.0 | ) | — | (68.0 | ) | — | (68.0 | ) | ||||||||||||
Other income (expense), net | 3.3 | — | 3.3 | — | 3.3 | |||||||||||||||
Total other income (expense) | (64.7 | ) | — | (64.7 | ) | — | (64.7 | ) | ||||||||||||
Earnings (loss) from continuing operations before income taxes | 149.2 | 4.2 | 145.0 | 61.9 | 206.9 | |||||||||||||||
Provision for income taxes | 52.3 | 1.6 | 50.7 | 21.7 | 72.4 | |||||||||||||||
Earnings (loss) from continuing operations, net of tax | 96.9 | 2.6 | 94.3 | 40.2 | 134.5 | |||||||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (3.3 | ) | (2.6 | ) | (0.7 | ) | 1.4 | 0.7 | ||||||||||||
Net earnings (loss) | 93.6 | — | 93.6 | 41.6 | 135.2 | |||||||||||||||
Net (earnings) loss attributable to noncontrolling interest | (0.8 | ) | — | (0.8 | ) | — | (0.8 | ) | ||||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 92.8 | $ | — | $ | 92.8 | $ | 41.6 | $ | 134.4 | ||||||||||
Amounts attributable to FIS common stockholders | ||||||||||||||||||||
Earnings (loss) from continuing operations, net of tax | $ | 96.1 | $ | 2.6 | $ | 93.5 | $ | 40.2 | $ | 133.7 | ||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (3.3 | ) | (2.6 | ) | (0.7 | ) | 1.4 | 0.7 | ||||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 92.8 | $ | — | $ | 92.8 | $ | 41.6 | $ | 134.4 | ||||||||||
Net earnings (loss) per share — diluted from continuing operations attributable to FIS common stockholders* | $ | 0.31 | $ | 0.01 | $ | 0.30 | $ | 0.13 | $ | 0.43 | ||||||||||
Weighted average shares outstanding — diluted | 308.7 | 308.7 | 308.7 | 308.7 | 308.7 | |||||||||||||||
Effective tax rate | 35 | % | 35 | % | ||||||||||||||||
Supplemental information: | ||||||||||||||||||||
Depreciation and amortization | $ | 150.6 | (61.9 | ) | $ | 88.7 | ||||||||||||||
Stock compensation expense, excluding acceleration charges | $ | 15.4 | ||||||||||||||||||
Stock acceleration charges | — | |||||||||||||||||||
Total stock compensation expense | $ | 15.4 | ||||||||||||||||||
* Amounts may not sum due to rounding.
See accompanying notes.
6
FIDELITY NATIONAL INFORMATION SERVICES, INC.
RECAST SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATION — UNAUDITED
(In millions)
Exhibit B (continued) | ||||||||||||||||||||||||||||||||||||
GAAP | Non-GAAP | |||||||||||||||||||||||||||||||||||
Twelve | Long | Twelve | ||||||||||||||||||||||||||||||||||
As | Healthcare | Months | Term | Months | ||||||||||||||||||||||||||||||||
Reported | Benefit | Ended | Debt | Investment | Purchase | Ended | ||||||||||||||||||||||||||||||
December 31, | Solutions | December 31, | Capco | Refinance | Impairment | Price | December 31, | |||||||||||||||||||||||||||||
2011 (1) | Business (2) | 2011 | Adj. (5) | (6) | (7) | Subtotal | Amort. (11) | 2011 | ||||||||||||||||||||||||||||
Processing and services revenue | $ | 5,745.7 | $ | 120.1 | $ | 5,625.6 | $ | — | $ | — | $ | — | $ | 5,625.6 | $ | — | $ | 5,625.6 | ||||||||||||||||||
Cost of revenues | 3,998.0 | 78.9 | 3,919.1 | — | — | — | 3,919.1 | (242.6 | ) | 3,676.5 | ||||||||||||||||||||||||||
Gross profit | 1,747.7 | 41.2 | 1,706.5 | — | — | — | 1,706.5 | 242.6 | 1,949.1 | |||||||||||||||||||||||||||
Selling, general and administrative | 671.8 | 23.9 | 647.9 | 22.3 | — | — | 670.2 | — | 670.2 | |||||||||||||||||||||||||||
Impairment charges | 9.1 | — | 9.1 | (9.1 | ) | — | — | — | — | — | ||||||||||||||||||||||||||
Operating income (loss) | 1,066.8 | 17.3 | 1,049.5 | (13.2 | ) | — | — | 1,036.3 | 242.6 | 1,278.9 | ||||||||||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||||||
Interest income (expense), net | (258.8 | ) | — | (258.8 | ) | — | — | — | (258.8 | ) | — | (258.8 | ) | |||||||||||||||||||||||
Other income (expense), net | (63.7 | ) | — | (63.7 | ) | — | 38.8 | 34.0 | 9.1 | — | 9.1 | |||||||||||||||||||||||||
Total other income (expense) | (322.5 | ) | — | (322.5 | ) | — | 38.8 | 34.0 | (249.7 | ) | — | (249.7 | ) | |||||||||||||||||||||||
Earnings (loss) from continuing operations before income taxes | 744.3 | 17.3 | 727.0 | (13.2 | ) | 38.8 | 34.0 | 786.6 | 242.6 | 1,029.2 | ||||||||||||||||||||||||||
Provision for income taxes | 239.0 | 6.6 | 232.4 | 2.9 | 12.2 | 10.7 | 258.2 | 78.0 | 336.2 | |||||||||||||||||||||||||||
Earnings (loss) from continuing operations, net of tax | 505.3 | 10.7 | 494.6 | (16.1 | ) | 26.6 | 23.3 | 528.4 | 164.6 | 693.0 | ||||||||||||||||||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (24.2 | ) | (10.7 | ) | (13.5 | ) | — | — | — | (13.5 | ) | 5.3 | (8.2 | ) | ||||||||||||||||||||||
Net earnings (loss) | 481.1 | — | 481.1 | (16.1 | ) | 26.6 | 23.3 | 514.9 | 169.9 | 684.8 | ||||||||||||||||||||||||||
Net (earnings) loss attributable to noncontrolling interest | (11.5 | ) | — | (11.5 | ) | — | — | — | (11.5 | ) | — | (11.5 | ) | |||||||||||||||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 469.6 | $ | — | $ | 469.6 | $ | (16.1 | ) | $ | 26.6 | $ | 23.3 | $ | 503.4 | $ | 169.9 | $ | 673.3 | |||||||||||||||||
Amounts attributable to FIS common stockholders | ||||||||||||||||||||||||||||||||||||
Earnings (loss) from continuing operations, net of tax | $ | 493.8 | $ | 10.7 | $ | 483.1 | $ | (16.1 | ) | $ | 26.6 | $ | 23.3 | $ | 516.9 | $ | 164.6 | $ | 681.5 | |||||||||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (24.2 | ) | (10.7 | ) | (13.5 | ) | — | — | — | (13.5 | ) | 5.3 | (8.2 | ) | ||||||||||||||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 469.6 | $ | — | $ | 469.6 | $ | (16.1 | ) | $ | 26.6 | $ | 23.3 | $ | 503.4 | $ | 169.9 | $ | 673.3 | |||||||||||||||||
Net earnings (loss) per share — diluted from continuing operations attributable to FIS common stockholders* | $ | 1.61 | $ | 0.03 | $ | 1.57 | $ | (0.05 | ) | $ | 0.09 | $ | 0.08 | $ | 1.68 | $ | 0.54 | $ | 2.22 | |||||||||||||||||
Weighted average shares outstanding — diluted | 307.0 | 307.0 | 307.0 | 307.0 | 307.0 | 307.0 | 307.0 | 307.0 | 307.0 | |||||||||||||||||||||||||||
Effective tax rate | 32 | % | 33 | % | ||||||||||||||||||||||||||||||||
Supplemental information: | ||||||||||||||||||||||||||||||||||||
Depreciation and amortization | $ | 620.9 | (242.6 | ) | $ | 378.3 | ||||||||||||||||||||||||||||||
Stock compensation expense, excluding acceleration charges | $ | 64.7 | ||||||||||||||||||||||||||||||||||
Stock acceleration charges | — | |||||||||||||||||||||||||||||||||||
Total stock compensation expense | $ | 64.7 | ||||||||||||||||||||||||||||||||||
* Amounts may not sum due to rounding.
See accompanying notes.
7
FIDELITY NATIONAL INFORMATION SERVICES, INC.
RECAST SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATION — UNAUDITED
(In millions)
Exhibit B (continued) | ||||||||||||||||||||||||||||||||||||
GAAP | Non-GAAP | |||||||||||||||||||||||||||||||||||
Twelve | Twelve | |||||||||||||||||||||||||||||||||||
As | Healthcare | Months | M&A | Acquisition | Months | |||||||||||||||||||||||||||||||
Reported | Benefit | Ended | Restructuring | Brazilian | Deferred | Purchase | Ended | |||||||||||||||||||||||||||||
December 31, | Solutions | December 31, | & Integration | Venture | Revenue | Price | December 31, | |||||||||||||||||||||||||||||
2010 (1) | Business (2) | 2010 | Costs (8) | (9) | (10) | Subtotal | Amort. (11) | 2010 | ||||||||||||||||||||||||||||
Processing and services revenue | $ | 5,269.5 | $ | 123.9 | $ | 5,145.6 | $ | — | $ | (83.3 | ) | $ | 18.5 | $ | 5,080.8 | $ | — | $ | 5,080.8 | |||||||||||||||||
Cost of revenues | 3,637.7 | 84.0 | 3,553.7 | — | — | — | 3,553.7 | (252.8 | ) | 3,300.9 | ||||||||||||||||||||||||||
Gross profit | 1,631.8 | 39.9 | 1,591.9 | — | (83.3 | ) | 18.5 | 1,527.1 | 252.8 | 1,779.9 | ||||||||||||||||||||||||||
Selling, general and administrative | 675.8 | 21.8 | 654.0 | (123.2 | ) | — | — | 530.8 | — | 530.8 | ||||||||||||||||||||||||||
Impairment charges | 154.9 | — | 154.9 | — | (154.9 | ) | — | — | — | — | ||||||||||||||||||||||||||
Operating income (loss) | 801.1 | 18.1 | 783.0 | 123.2 | 71.6 | 18.5 | 996.3 | 252.8 | 1,249.1 | |||||||||||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||||||
Interest income (expense), net | (173.3 | ) | 0.1 | (173.4 | ) | 0.4 | — | — | (173.0 | ) | — | (173.0 | ) | |||||||||||||||||||||||
Other income (expense), net | (11.5 | ) | — | (11.5 | ) | 37.0 | (25.1 | ) | — | 0.4 | — | 0.4 | ||||||||||||||||||||||||
Total other income (expense) | (184.8 | ) | 0.1 | (184.9 | ) | 37.4 | (25.1 | ) | — | (172.6 | ) | — | (172.6 | ) | ||||||||||||||||||||||
Earnings (loss) from continuing operations before income taxes | 616.3 | 18.2 | 598.1 | 160.6 | 46.5 | 18.5 | 823.7 | 252.8 | 1,076.5 | |||||||||||||||||||||||||||
Provision for income taxes | 215.3 | 6.9 | 208.4 | 56.2 | 17.6 | 6.8 | 289.0 | 89.3 | 378.3 | |||||||||||||||||||||||||||
Earnings (loss) from continuing operations, net of tax | 401.0 | 11.3 | 389.7 | 104.4 | 28.9 | 11.7 | 534.7 | 163.5 | 698.2 | |||||||||||||||||||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (43.1 | ) | (11.1 | ) | (32.0 | ) | — | — | — | (32.0 | ) | 5.1 | (26.9 | ) | ||||||||||||||||||||||
Net earnings (loss) | 357.9 | 0.2 | 357.7 | 104.4 | 28.9 | 11.7 | 502.7 | 168.6 | 671.3 | |||||||||||||||||||||||||||
Net (earnings) loss attributable to noncontrolling interest | 46.6 | — | 46.6 | — | (50.1 | ) | — | (3.5 | ) | — | (3.5 | ) | ||||||||||||||||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 404.5 | $ | 0.2 | $ | 404.3 | $ | 104.4 | $ | (21.2 | ) | $ | 11.7 | $ | 499.2 | $ | 168.6 | $ | 667.8 | |||||||||||||||||
Amounts attributable to FIS common stockholders | ||||||||||||||||||||||||||||||||||||
Earnings (loss) from continuing operations, net of tax | $ | 447.6 | $ | 11.3 | $ | 436.3 | $ | 104.4 | $ | (21.2 | ) | $ | 11.7 | $ | 531.2 | $ | 163.5 | $ | 694.7 | |||||||||||||||||
Earnings (loss) from discontinued operations, net of tax (12) | (43.1 | ) | (11.1 | ) | (32.0 | ) | — | — | — | (32.0 | ) | 5.1 | (26.9 | ) | ||||||||||||||||||||||
Net earnings (loss) attributable to FIS common stockholders | $ | 404.5 | $ | 0.2 | $ | 404.3 | $ | 104.4 | $ | (21.2 | ) | $ | 11.7 | $ | 499.2 | $ | 168.6 | $ | 667.8 | |||||||||||||||||
Net earnings (loss) per share — diluted from continuing operations attributable to FIS common stockholders* | $ | 1.27 | $ | 0.03 | $ | 1.24 | $ | 0.30 | $ | (0.06 | ) | $ | 0.03 | $ | 1.51 | $ | 0.46 | $ | 1.97 | |||||||||||||||||
Weighted average shares outstanding — diluted | 352.0 | 352.0 | 352.0 | 352.0 | 352.0 | 352.0 | 352.0 | 352.0 | 352.0 | |||||||||||||||||||||||||||
Effective tax rate | 35 | % | 35 | % | ||||||||||||||||||||||||||||||||
Supplemental information: | ||||||||||||||||||||||||||||||||||||
Depreciation and amortization | $ | 597.8 | (252.8 | ) | $ | 345.0 | ||||||||||||||||||||||||||||||
Stock compensation expense, excluding acceleration charges | $ | 53.0 | ||||||||||||||||||||||||||||||||||
Stock acceleration charges | 5.8 | |||||||||||||||||||||||||||||||||||
Total stock compensation expense | $ | 58.8 | ||||||||||||||||||||||||||||||||||
* Amounts may not sum due to rounding.
See accompanying notes.
8
FIDELITY NATIONAL INFORMATION SERVICES, INC.
SUMMARY RECAST SUPPLEMENTAL NON-GAAP INFORMATION - UNAUDITED
(in millions)
Exhibit C | ||||||||||||||||||||||||||||
Three Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||
March 31, | December 31, | September 30, | June 30, | March 31, | December 31, | December 31, | ||||||||||||||||||||||
2012 | 2011 | 2011 | 2011 | 2011 | 2011 | 2010 | ||||||||||||||||||||||
Processing and services revenue: | ||||||||||||||||||||||||||||
Financial Solutions | $ | 538.9 | $ | 533.4 | $ | 523.2 | $ | 516.5 | $ | 503.7 | $ | 2,076.8 | $ | 1,890.8 | ||||||||||||||
Payment Solutions | 597.1 | 608.9 | 575.7 | 603.6 | 583.9 | 2,372.1 | 2,354.2 | |||||||||||||||||||||
International Solutions | 276.8 | 318.8 | 297.7 | 293.0 | 268.1 | 1,177.6 | 833.7 | |||||||||||||||||||||
Corporate and other | 0.6 | 0.2 | 1.6 | 0.2 | (2.9 | ) | (0.9 | ) | 2.1 | |||||||||||||||||||
Total processing and services revenue | $ | 1,413.4 | $ | 1,461.3 | $ | 1,398.2 | $ | 1,413.3 | $ | 1,352.8 | $ | 5,625.6 | $ | 5,080.8 | ||||||||||||||
Non-GAAP operating income (loss): | ||||||||||||||||||||||||||||
Financial Solutions | $ | 166.8 | $ | 172.6 | $ | 182.7 | $ | 168.8 | $ | 156.3 | $ | 680.4 | $ | 673.4 | ||||||||||||||
Payment Solutions | 216.2 | 225.4 | 200.4 | 208.6 | 188.4 | 822.8 | 804.4 | |||||||||||||||||||||
International Solutions | 33.1 | 68.4 | 47.4 | 41.6 | 30.6 | 188.0 | 143.2 | |||||||||||||||||||||
Corporate and other | (114.1 | ) | (107.6 | ) | (96.9 | ) | (104.1 | ) | (103.7 | ) | (412.3 | ) | (371.9 | ) | ||||||||||||||
Total non-GAAP operating income (loss) | $ | 302.0 | $ | 358.8 | $ | 333.6 | $ | 314.9 | $ | 271.6 | $ | 1,278.9 | $ | 1,249.1 | ||||||||||||||
Adjusted EBITDA: | ||||||||||||||||||||||||||||
Financial Solutions | $ | 207.9 | $ | 213.7 | $ | 224.0 | $ | 208.3 | $ | 195.1 | $ | 841.1 | $ | 827.5 | ||||||||||||||
Payment Solutions | 237.9 | 246.7 | 221.1 | 229.9 | 210.2 | 907.9 | 894.3 | |||||||||||||||||||||
International Solutions | 51.4 | 92.8 | 67.0 | 61.2 | 48.9 | 269.9 | 204.1 | |||||||||||||||||||||
Corporate and other | (102.3 | ) | (93.0 | ) | (81.9 | ) | (92.9 | ) | (93.9 | ) | (361.7 | ) | (331.8 | ) | ||||||||||||||
Total adjusted EBITDA | $ | 394.9 | $ | 460.2 | $ | 430.2 | $ | 406.5 | $ | 360.3 | $ | 1,657.2 | $ | 1,594.1 | ||||||||||||||
Non-GAAP operating margin: | ||||||||||||||||||||||||||||
Financial Solutions | 31.0 | % | 32.4 | % | 34.9 | % | 32.7 | % | 31.0 | % | 32.8 | % | 35.6 | % | ||||||||||||||
Payment Solutions | 36.2 | % | 37.0 | % | 34.8 | % | 34.6 | % | 32.3 | % | 34.7 | % | 34.2 | % | ||||||||||||||
International Solutions | 12.0 | % | 21.5 | % | 15.9 | % | 14.2 | % | 11.4 | % | 16.0 | % | 17.2 | % | ||||||||||||||
Corporate and other | N/M | N/M | N/M | N/M | N/M | N/M | N/M | |||||||||||||||||||||
Total non-GAAP operating margin | 21.4 | % | 24.6 | % | 23.9 | % | 22.3 | % | 20.1 | % | 22.7 | % | 24.6 | % | ||||||||||||||
Adjusted EBITDA margin: | ||||||||||||||||||||||||||||
Financial Solutions | 38.6 | % | 40.1 | % | 42.8 | % | 40.3 | % | 38.7 | % | 40.5 | % | 43.8 | % | ||||||||||||||
Payment Solutions | 39.8 | % | 40.5 | % | 38.4 | % | 38.1 | % | 36.0 | % | 38.3 | % | 38.0 | % | ||||||||||||||
International Solutions | 18.6 | % | 29.1 | % | 22.5 | % | 20.9 | % | 18.2 | % | 22.9 | % | 24.5 | % | ||||||||||||||
Corporate and other | N/M | N/M | N/M | N/M | N/M | N/M | N/M | |||||||||||||||||||||
Total adjusted EBITDA margin | 27.9 | % | 31.5 | % | 30.8 | % | 28.8 | % | 26.6 | % | 29.5 | % | 31.4 | % | ||||||||||||||
9
FIDELITY NATIONAL INFORMATION SERVICES, INC.
RECAST SUPPLEMENTAL NON-GAAP FINANCIAL INFORMATION — UNAUDITED
(In millions)
Exhibit D | |||||||||||||||||||
Three months ended March 31, 2012 | |||||||||||||||||||
Financial Solutions | Payment Solutions | International Solutions | Corporate and Other | Consolidated | |||||||||||||||
Processing and services revenue | $ | 538.9 | $ | 597.1 | $ | 276.8 | $ | 0.6 | $ | 1,413.4 | |||||||||
Operating income (loss) | $ | 166.8 | $ | 216.2 | $ | 33.0 | $ | (193.5 | ) | $ | 222.5 | ||||||||
Stock and other compensation charges | — | — | — | 18.5 | 18.5 | ||||||||||||||
Purchase price amortization | — | — | 0.1 | 60.9 | 61.0 | ||||||||||||||
Non GAAP operating income (loss) | 166.8 | 216.2 | 33.1 | (114.1 | ) | 302.0 | |||||||||||||
Depreciation and amortization from continuing operations | 41.1 | 21.7 | 18.3 | 11.8 | 92.9 | ||||||||||||||
Adjusted EBITDA | $ | 207.9 | $ | 237.9 | $ | 51.4 | $ | (102.3 | ) | $ | 394.9 | ||||||||
Non GAAP operating margin | 31.0 | % | 36.2 | % | 12.0 | % | N/M | 21.4 | % | ||||||||||
Adjusted EBITDA margin | 38.6 | % | 39.8 | % | 18.6 | % | N/M | 27.9 | % | ||||||||||
10
FIDELITY NATIONAL INFORMATION SERVICES, INC.
RECAST SUPPLEMENTAL NON-GAAP FINANCIAL INFORMATION — UNAUDITED
(In millions)
Exhibit D (continued) | |||||||||||||||||||
Three months ended December 31, 2011 | |||||||||||||||||||
Financial Solutions | Payment Solutions | International Solutions | Corporate and Other | Consolidated | |||||||||||||||
Processing and services revenue | $ | 533.4 | $ | 608.9 | $ | 318.8 | $ | 0.2 | $ | 1,461.3 | |||||||||
Operating income (loss) | $ | 172.6 | $ | 225.4 | $ | 68.3 | $ | (154.3 | ) | $ | 312.0 | ||||||||
Capco acquisition adjustments | — | — | — | (13.2 | ) | (13.2 | ) | ||||||||||||
Purchase price amortization | — | — | 0.1 | 59.9 | 60.0 | ||||||||||||||
Non GAAP operating income (loss) | 172.6 | 225.4 | 68.4 | (107.6 | ) | 358.8 | |||||||||||||
Depreciation and amortization from continuing operations | 41.1 | 21.3 | 24.4 | 14.6 | 101.4 | ||||||||||||||
Adjusted EBITDA | $ | 213.7 | $ | 246.7 | $ | 92.8 | $ | (93.0 | ) | $ | 460.2 | ||||||||
Non GAAP operating margin | 32.4 | % | 37.0 | % | 21.5 | % | N/M | 24.6 | % | ||||||||||
Adjusted EBITDA margin | 40.1 | % | 40.5 | % | 29.1 | % | N/M | 31.5 | % | ||||||||||
Three months ended September 30, 2011 | |||||||||||||||||||
Financial Solutions | Payment Solutions | International Solutions | Corporate and Other | Consolidated | |||||||||||||||
Processing and services revenue | $ | 523.2 | $ | 575.7 | $ | 297.7 | $ | 1.6 | $ | 1,398.2 | |||||||||
Operating income (loss) | $ | 182.7 | $ | 200.4 | $ | 47.3 | $ | (157.2 | ) | $ | 273.2 | ||||||||
Purchase price amortization | — | — | 0.1 | 60.3 | 60.4 | ||||||||||||||
Non GAAP operating income (loss) | 182.7 | 200.4 | 47.4 | (96.9 | ) | 333.6 | |||||||||||||
Depreciation and amortization from continuing operations | 41.3 | 20.7 | 19.6 | 15.0 | 96.6 | ||||||||||||||
Adjusted EBITDA | $ | 224.0 | $ | 221.1 | $ | 67.0 | $ | (81.9 | ) | $ | 430.2 | ||||||||
Non GAAP operating margin | 34.9 | % | 34.8 | % | 15.9 | % | N/M | 23.9 | % | ||||||||||
Adjusted EBITDA margin | 42.8 | % | 38.4 | % | 22.5 | % | N/M | 30.8 | % | ||||||||||
11
FIDELITY NATIONAL INFORMATION SERVICES, INC.
RECAST SUPPLEMENTAL NON-GAAP FINANCIAL INFORMATION — UNAUDITED
(In millions)
Exhibit D (continued) | |||||||||||||||||||
Three months ended June 30, 2011 | |||||||||||||||||||
Financial Solutions | Payment Solutions | International Solutions | Corporate and Other | Consolidated | |||||||||||||||
Processing and services revenue | $ | 516.5 | $ | 603.6 | $ | 293.0 | $ | 0.2 | $ | 1,413.3 | |||||||||
Operating income (loss) | $ | 168.8 | $ | 208.6 | $ | 41.5 | $ | (164.3 | ) | $ | 254.6 | ||||||||
Purchase price amortization | — | — | 0.1 | 60.2 | 60.3 | ||||||||||||||
Non GAAP operating income (loss) | 168.8 | 208.6 | 41.6 | (104.1 | ) | 314.9 | |||||||||||||
Depreciation and amortization from continuing operations | 39.5 | 21.3 | 19.6 | 11.2 | 91.6 | ||||||||||||||
Adjusted EBITDA | $ | 208.3 | $ | 229.9 | $ | 61.2 | $ | (92.9 | ) | $ | 406.5 | ||||||||
Non GAAP operating margin | 32.7 | % | 34.6 | % | 14.2 | % | N/M | 22.3 | % | ||||||||||
Adjusted EBITDA margin | 40.3 | % | 38.1 | % | 20.9 | % | N/M | 28.8 | % | ||||||||||
Three months ended March 31, 2011 | |||||||||||||||||||
Financial Solutions | Payment Solutions | International Solutions | Corporate and Other | Consolidated | |||||||||||||||
Processing and services revenue | $ | 503.7 | $ | 583.9 | $ | 268.1 | $ | (2.9 | ) | $ | 1,352.8 | ||||||||
Operating income (loss) | $ | 156.2 | $ | 188.3 | $ | 30.5 | $ | (165.3 | ) | $ | 209.7 | ||||||||
Purchase price amortization | 0.1 | 0.1 | 0.1 | 61.6 | 61.9 | ||||||||||||||
Non GAAP operating income (loss) | 156.3 | 188.4 | 30.6 | (103.7 | ) | 271.6 | |||||||||||||
Depreciation and amortization from continuing operations | 38.8 | 21.8 | 18.3 | 9.8 | 88.7 | ||||||||||||||
Adjusted EBITDA | $ | 195.1 | $ | 210.2 | $ | 48.9 | $ | (93.9 | ) | $ | 360.3 | ||||||||
Non GAAP operating margin | 31.0 | % | 32.3 | % | 11.4 | % | N/M | 20.1 | % | ||||||||||
Adjusted EBITDA margin | 38.7 | % | 36.0 | % | 18.2 | % | N/M | 26.6 | % | ||||||||||
12
FIDELITY NATIONAL INFORMATION SERVICES, INC.
RECAST SUPPLEMENTAL NON-GAAP FINANCIAL INFORMATION — UNAUDITED
(In millions)
Exhibit D (continued) | |||||||||||||||||||
Year ended December 31, 2011 | |||||||||||||||||||
Financial Solutions | Payment Solutions | International Solutions | Corporate and Other | Consolidated | |||||||||||||||
Processing and services revenue | $ | 2,076.8 | $ | 2,372.1 | $ | 1,177.6 | $ | (0.9 | ) | $ | 5,625.6 | ||||||||
Operating income (loss) | $ | 680.3 | $ | 822.7 | $ | 187.6 | $ | (641.1 | ) | $ | 1,049.5 | ||||||||
Capco acquisition adjustments | — | — | — | (13.2 | ) | (13.2 | ) | ||||||||||||
Purchase price amortization | 0.1 | 0.1 | 0.4 | 242.0 | 242.6 | ||||||||||||||
Non GAAP operating income (loss) | 680.4 | 822.8 | 188.0 | (412.3 | ) | 1,278.9 | |||||||||||||
Depreciation and amortization from continuing operations | 160.7 | 85.1 | 81.9 | 50.6 | 378.3 | ||||||||||||||
Adjusted EBITDA | $ | 841.1 | $ | 907.9 | $ | 269.9 | $ | (361.7 | ) | $ | 1,657.2 | ||||||||
Non GAAP operating margin | 32.8 | % | 34.7 | % | 16.0 | % | N/M | 22.7 | % | ||||||||||
Adjusted EBITDA margin | 40.5 | % | 38.3 | % | 22.9 | % | N/M | 29.5 | % | ||||||||||
Year ended December 31, 2010 | |||||||||||||||||||
Financial Solutions | Payment Solutions | International Solutions | Corporate and Other | Consolidated | |||||||||||||||
Processing and services revenue, as adjusted | $ | 1,890.8 | $ | 2,354.2 | $ | 833.7 | $ | 2.1 | $ | 5,080.8 | |||||||||
Operating income (loss) | $ | 673.4 | $ | 803.5 | $ | 71.1 | $ | (765.0 | ) | $ | 783.0 | ||||||||
M&A, restructuring and integration costs | — | — | — | 123.2 | 123.2 | ||||||||||||||
Brazilian venture | — | — | 71.6 | — | 71.6 | ||||||||||||||
Acquisition deferred revenue adjustment | — | — | — | 18.5 | 18.5 | ||||||||||||||
Purchase price amortization | — | 0.9 | 0.5 | 251.4 | 252.8 | ||||||||||||||
Non GAAP operating income (loss) | 673.4 | 804.4 | 143.2 | (371.9 | ) | 1,249.1 | |||||||||||||
Depreciation and amortization from continuing operations | 154.1 | 89.9 | 60.9 | 40.1 | 345.0 | ||||||||||||||
Adjusted EBITDA | $ | 827.5 | $ | 894.3 | $ | 204.1 | $ | (331.8 | ) | $ | 1,594.1 | ||||||||
Non GAAP operating margin | 35.6 | % | 34.2 | % | 17.2 | % | N/M | 24.6 | % | ||||||||||
Adjusted EBITDA margin | 43.8 | % | 38.0 | % | 24.5 | % | N/M | 31.4 | % | ||||||||||
13
FIDELITY NATIONAL INFORMATION SERVICES, INC.
RECAST SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATION — UNAUDITED
(In millions)
Notes to Unaudited - Recast Supplemental GAAP to Non-GAAP Reconciliation for the quarters ended March 31, 2012 and March 31, June 30, September 30, and December 31, 2011 and full years 2011 and 2010.
The adjustments are as follows:
(1) | This column represents FIS' results of operations as derived from forms 10-K and 10-Q for the applicable period. |
(2) | This column represents the impact of presenting the operations of the Healthcare Benefit Solutions Business as discontinued operations which will be done beginning with FIS' reported results for the second quarter of 2012. |
(3) | Charges for accelerated vesting of certain stock option and restricted stock grants as of March 30, 2012 pursuant to the changes in roles of William P. Foley II, Vice Chairman, and Brent B. Bickett, Executive Vice President of Corporate Finance, and for a non-compete and change in role cash payment to Mr. Foley. |
(4) | This column represents the write-off of certain previously capitalized debt issuance costs and transaction expenses incurred as a result of the early pay down of certain debt and the refinancing of our credit facility in the first quarter of 2012. |
(5) | The adjustment to selling, general and administrative expense in this column represents a reduction in the liability established at the acquisition of Capco for contingent consideration. The Capco purchase price included future contingent consideration which was valued at $113.7 million at December 31, 2010 based on expected operating performance in 2013 through 2015, which has been reduced by $22.3 million to $97.2 million as of December 31, 2011. The impairment charge is a reduction in the carrying value of the Capco trademark in North America. |
(6) | This column represents the write-off of certain previously capitalized debt issuance costs and transaction expenses incurred as a result of the early pay down of certain debt and the refinancing of our credit facility in the fourth quarter of 2011. |
(7) | This column represents the other than temporary impairment in the fourth quarter of 2011 of available-for-sale securities acquired in conjunction with the acquisition of Metavante Technologies, Inc. |
(8) | This column represents (1) charges for restructuring and integration costs relating to merger and acquisition activities and (2) costs associated with the 2010 leveraged recapitalization plan. For the year ended December 31, 2010, the adjustments to selling, general and administrative expenses primarily represent incremental transaction costs incurred by the Company related to the acquisition of Metavante Technologies, Inc., completed on October 1, 2009. The adjustments to other income (expense), net represent certain costs associated with the leveraged recapitalization, the write-off of certain previously capitalized debt issuance costs associated with the amended and extended debt facility and the write-off of unamortized discount associated with the portion of the Metavante debt that was paid with the proceeds thereof. |
(9) | In August 2010, all documents required to affect a mutually agreeable exit for Banco Santander from the Brazil card processing Joint Venture were executed. Banco Santander paid a termination fee of approximately $83.3 million directly to FIS, which is included in processing and services revenues for the year ended December 31, 2010. Notes payable representing additional consideration which was to be paid to the banks upon migration of their card portfolios were forgiven and reduced by $19.4 million, representing Banco Santander's proportionate interest therein. Certain capitalized software development costs exclusively for use in processing Banco Santander card activity with a net unamortized balance of $14.6 million were written off. In addition, $140.3 million, representing the portion of the unamortized contract intangible asset recorded at the initiation of the Brazilian Venture that was attributable to Banco Santander was deemed impaired as a result of Santander's exit and charged to amortization expense. In November 2010, the Company and Banco Bradesco restructured the remaining migration notes in conjunction with other revisions to the Brazilian Venture agreements, resulting in an extinguishment gain of $5.7 million. |
(10) | This column represents the impact of the purchase accounting adjustment to reduce Metavante's deferred revenues to estimated fair value, determined as fulfillment cost plus a normal profit margin. The deferred revenue adjustment represents revenue that would have been recognized in the normal course of business by Metavante but was not recognized due to GAAP purchase accounting requirements. |
14
FIDELITY NATIONAL INFORMATION SERVICES, INC.
RECAST SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATION — UNAUDITED
(In millions)
(11) | This column represents purchase price amortization expense on intangible assets acquired through various Company acquisitions. |
(12) | During the periods presented, certain operations are classified as discontinued. Reporting for discontinued operations classifies revenues and expenses as one line item net of tax in the consolidated statements of earnings. During the second quarter 2012 we entered into a definitive agreement to sell our Healthcare Benefit Solutions business and will classify its results as discontinued operations effective with the second quarter 2012. During the third quarter 2010, we determined that Fidelity National Participacoes Ltda. ("Participacoes"), our item processing and remittance services business in Brazil, should be treated as a discontinued operation. |
Three Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||
March 31, | December 31, | September 30, | June 30, | March 31, | December 31, | December 31, | ||||||||||||||||||||||
2012 | 2011 | 2011 | 2011 | 2011 | 2011 | 2010 | ||||||||||||||||||||||
Healthcare Benefit Solutions Business operations | $ | 5.6 | $ | 4.7 | $ | 3.3 | $ | 4.0 | $ | 4.0 | $ | 16.0 | $ | 16.2 | ||||||||||||||
Impairment charges - Participacoes | — | — | — | — | — | — | (16.6 | ) | ||||||||||||||||||||
Participacoes operations | (8.7 | ) | (5.9 | ) | (9.1 | ) | (5.8 | ) | (3.3 | ) | (24.1 | ) | (25.2 | ) | ||||||||||||||
ClearPar and other | — | (0.1 | ) | — | — | — | (0.1 | ) | (1.3 | ) | ||||||||||||||||||
Total discontinued operations | $ | (3.1 | ) | $ | (1.3 | ) | $ | (5.8 | ) | $ | (1.8 | ) | $ | 0.7 | $ | (8.2 | ) | $ | (26.9 | ) | ||||||||
15