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Acquisitions and Dispositions (Tables) | 12 Months Ended
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Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract] |
Schedule of values and weighted-average useful life allocated to intangible assets | The amounts allocated to identifiable intangible assets are as follows:
(In millions) | Gross Carrying Amount |  | Weighted-Average Useful Life
Customer relationships | $ | 90 |  |  | 17 years
Residual buyouts | 20 |  |  | 8 years
Acquired software and technology | 6 |  |  | 7 years
Non-compete agreements and other | 11 |  |  | 5 years
Total | $ | 127 |  |  | 14 years
The amounts allocated to identifiable intangible assets are as follows:
(In millions) | Gross Carrying Amount |  | Weighted-Average Useful Life
Acquired software and technology | $ | 90 |  |  | 6 years
Customer relationships | 35 |  |  | 6 years
Non-compete agreements and other | 17 |  |  | 4 years
Total | $ | 142 |  |  | 6 years
The amounts allocated to intangible assets were as follows:
(In millions) | Gross Carrying Amount |  | Weighted-Average Useful Life
Customer relationships | $ | 13,458 |  |  | 15 years
Acquired software and technology | 2,324 |  |  | 7 years
Trade names | 490 |  |  | 9 years
Total | $ | 16,272 |  |  | 14 years
The amounts allocated to intangible assets were as follows:
(In millions) | Gross Carrying Amount |  | Weighted-Average Useful Life
Acquired software and technology | $ | 31 |  |  | 6 years
Customer relationships | 9 |  |  | 10 years
Residual buyouts | 7 |  |  | 5 years
Total | $ | 47 |  |  | 7 years
The amounts allocated to intangible assets were as follows:
(In millions) | Gross Carrying Amount |  | Weighted-Average Useful Life
Customer relationships | $ | 32 |  |  | 14 years
Residual buyouts | 35 |  |  | 9 years
Acquired software and technology | 14 |  |  | 8 years
Total | $ | 81 |  |  | 11 years
Schedule of purchase price allocation | The allocation of purchase price recorded for Ondot was finalized in the third quarter of 2021 as follows:
(In millions) |
Cash and cash equivalents | $ | 13 |
Receivables and other assets | 9 |
Intangible assets | 142 |
Goodwill | 173 |
Payables and other liabilities | (31) |
Total consideration | $ | 306 |
Less: Fair value of previously held equity interest | (22) |
Total purchase price | $ | 284 |
The allocation of purchase price recorded for First Data was finalized in the third quarter of 2020 as follows:
(In millions) |
Assets acquired (1) |
Cash and cash equivalents | $ | 310 |
Trade accounts receivable | 1,747 |
Prepaid expenses and other current assets | 1,047 |
Settlement assets (2) | 10,398 |
Property and equipment | 1,156 |
Customer relationships | 13,458 |
Other intangible assets | 2,814 |
Goodwill | 30,811 |
Investments in unconsolidated affiliates | 2,676 |
Other long-term assets | 1,191 |
Total assets acquired | $ | 65,608 |
Liabilities assumed (1) |
Accounts payable and accrued expenses | $ | 1,613 |
Short-term and current maturities of long-term debt (3) | 243 |
Contract liabilities | 71 |
Settlement obligations | 10,398 |
Deferred income taxes | 3,671 |
Long-term contract liabilities | 16 |
Long-term debt and other long-term liabilities (4) | 1,261 |
Total liabilities assumed | $ | 17,273 |
Net assets acquired | $ | 48,335 |
Redeemable noncontrolling interests | 252 |
Noncontrolling interests | 1,608 |
Total purchase price | $ | 46,475 |
(1)In connection with the acquisition of First Data, the Company acquired two businesses which it intended to sell and subsequently sold in October 2019. Therefore, such businesses were classified as held for sale and were included within prepaid expenses and other current assets and accounts payable and accrued expenses in the above allocation of purchase price (see Note 5). (2)Includes $922 million of settlement cash and cash equivalents (see Note 1). (3)Includes foreign lines of credit, current portion of finance lease obligations and other financing obligations (see Note 12). (4)Includes the receivable securitized loan and the long-term portion of finance lease obligations (see Note 12).
Schedule of total purchase price paid | The total purchase price paid for First Data was as follows:
(In millions) |
Fair value of stock exchanged for shares of Fiserv, Inc. (1) | $ | 29,293 |
Repayment of First Data debt | 16,414 |
Fair value of vested portion of First Data stock awards exchanged for Fiserv, Inc. awards (2) | 768 |
Total purchase price | $ | 46,475 |
(1)The fair value of the 286 million shares of the Company’s common stock issued as of the acquisition date was determined based on a per share price of $102.30, which was the closing price of the Company’s common stock on July 26, 2019, the last trading day before the acquisition closed the morning of July 29, 2019. This includes a nominal amount of cash paid in lieu of fractional shares. (2)Represents the portion of the fair value of the replacement awards related to services provided prior to the acquisition. The remaining portion of the fair value is associated with future service and will be recognized as expense over the future service period. See Note 16 for additional information.
Schedule of pro forma combined financial information | The following unaudited supplemental pro forma combined financial information presents the Company’s results of operations for the year ended December 31, 2019 as if the acquisition of First Data had occurred on January 1, 2018. The pro forma financial information is presented for comparative purposes only and is not necessarily indicative of the Company’s operating results that may have actually occurred had the acquisition of First Data been completed on January 1, 2018. In addition, the unaudited pro forma financial information does not give effect to any anticipated cost savings, operating efficiencies or other synergies that may be associated with the acquisition, or any estimated costs that have been or will be incurred by the Company to integrate the assets and operations of First Data.
(In millions, except for per share data) | 2019 |  |
Total revenue | $ | 15,775 |  |  |
Net income | 1,520 |  |  |
Net income attributable to Fiserv, Inc. | 1,457 |  |  |
Net income per share attributable to Fiserv, Inc.: |  |  |
Basic | $ | 2.14 |  |  |
Diluted | $ | 2.10 |  |  |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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