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Change in Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract] |
Change in Accounting Pronouncements | The following tables summarize the impacts of Topic 606 adoption on the Company’s Condensed Consolidated Financial Statements (Unaudited). Condensed Consolidated Balance Sheet (Unaudited) as of December 31, 2017:
| As Previously |  |  |  |
| Reported |  | Adjustments |  | As Adjusted
ASSETS |  |  |  |  |
Current assets: |  |  |  |  |
Cash and cash equivalents | $ | 665 |  |  | $ | — |  |  | $ | 665 |
Settlement deposits | 677 |  |  | — |  |  | 677 |
Trade receivables, net | 1,650 |  |  | (26 | ) |  | 1,624 |
Contract assets | — |  |  | 108 |  |  | 108 |
Settlement receivables | 291 |  |  | — |  |  | 291 |
Other receivables | 70 |  |  | — |  |  | 70 |
Prepaid expenses and other current assets | 253 |  |  | — |  |  | 253 |
Total current assets | 3,606 |  |  | 82 |  |  | 3,688 |
Property and equipment, net | 610 |  |  | — |  |  | 610 |
Goodwill | 13,730 |  |  | — |  |  | 13,730 |
Intangible assets, net | 3,950 |  |  | (65 | ) |  | 3,885 |
Computer software, net | 1,728 |  |  | — |  |  | 1,728 |
Deferred contract costs, net | 362 |  |  | (8 | ) |  | 354 |
Other noncurrent assets | 531 |  |  | — |  |  | 531 |
Total assets | $ | 24,517 |  |  | $ | 9 |  |  | $ | 24,526 |
LIABILITIES AND EQUITY |  |  |  |  |
Current liabilities: |  |  |  |  |
Accounts payable and accrued liabilities | $ | 1,241 |  |  | $ | — |  |  | $ | 1,241 |
Settlement payables | 949 |  |  | — |  |  | 949 |
Deferred revenues | 688 |  |  | 88 |  |  | 776 |
Current portion of long-term debt | 1,045 |  |  | — |  |  | 1,045 |
Total current liabilities | 3,923 |  |  | 88 |  |  | 4,011 |
Long-term debt, excluding current portion | 7,718 |  |  | — |  |  | 7,718 |
Deferred income taxes | 1,508 |  |  | (40 | ) |  | 1,468 |
Deferred revenues | 21 |  |  | 85 |  |  | 106 |
Other long-term liabilities | 403 |  |  | — |  |  | 403 |
Total liabilities | 13,573 |  |  | 133 |  |  | 13,706 |
Equity: |  |  |  |  |
FIS stockholders’ equity: |  |  |  |  |
Preferred stock | — |  |  | — |  |  | — |
Common stock | 4 |  |  | — |  |  | 4 |
Additional paid in capital | 10,534 |  |  | — |  |  | 10,534 |
Retained earnings | 4,233 |  |  | (124 | ) |  | 4,109 |
Accumulated other comprehensive earnings | (332 | ) |  | — |  |  | (332 | )
Treasury stock, at cost | (3,604 | ) |  | — |  |  | (3,604 | )
Total FIS stockholders’ equity | 10,835 |  |  | (124 | ) |  | 10,711 |
Noncontrolling interest | 109 |  |  | — |  |  | 109 |
Total equity | 10,944 |  |  | (124 | ) |  | 10,820 |
Total liabilities and equity | $ | 24,517 |  |  | $ | 9 |  |  | $ | 24,526 |
Condensed Consolidated Statement of Earnings (Unaudited) for the three months ended March 31, 2017:
| As previously |  |  |  |
| Reported |  | Adjustments |  | As Adjusted
Revenues | $ | 2,255 |  |  | $ | (107 | ) |  | $ | 2,148 |
Cost of revenues | 1,582 |  |  | (91 | ) |  | 1,491 |
Gross profit | 673 |  |  | (16 | ) |  | 657 |
Selling, general, and administrative expenses | 413 |  |  | (2 | ) |  | 411 |
Operating income | 260 |  |  | (14 | ) |  | 246 |
Other income (expense): |  |  |  |  |
Interest income (expense), net | (93 | ) |  | — |  |  | (93 | )
Other income (expense), net | 56 |  |  | — |  |  | 56 |
Total other income (expense) | (37 | ) |  | — |  |  | (37 | )
Earnings before income taxes and equity method investment earnings | 223 |  |  | (14 | ) |  | 209 |
Provision (benefit) for income taxes | 79 |  |  | (5 | ) |  | 74 |
Equity method investment earnings | — |  |  | — |  |  | — |
Net earnings | 144 |  |  | (9 | ) |  | 135 |
Net earnings attributable to noncontrolling interest | (6 | ) |  | — |  |  | (6 | )
Net earnings attributable to FIS common stockholders | $ | 138 |  |  | $ | (9 | ) |  | $ | 129 |
Net earnings per share — basic attributable to FIS common stockholders * | $ | 0.42 |  |  | $ | (0.03 | ) |  | $ | 0.39 |
Weighted average shares outstanding — basic | 328 |  |  | 328 |  |  | 328 |
Net earnings per share — diluted attributable to FIS common stockholders * | $ | 0.41 |  |  | $ | (0.03 | ) |  | $ | 0.39 |
Weighted average shares outstanding — diluted | 333 |  |  | 333 |  |  | 333 |
Condensed Consolidated Statement of Comprehensive Earnings (Unaudited) for the three months ended March 31, 2017:
| As Previously |  |  |  |
| Reported |  | Adjustments |  | As Adjusted
Net earnings |  |  | $ | 144 |  |  |  |  | $ | (9 | ) |  |  |  | $ | 135 |
Other comprehensive earnings, before tax: |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) on investments and derivatives | $ | — |  |  |  |  | $ | — |  |  |  |  | $ | — |  |  |
Reclassification adjustment for gains (losses) included in net earnings | — |  |  |  |  | — |  |  |  |  | — |  |  |
Unrealized gain (loss) on investments and derivatives, net | — |  |  |  |  | — |  |  |  |  | — |  |  |
Foreign currency translation adjustments | 36 |  |  |  |  | — |  |  |  |  | 36 |  |  |
Minimum pension liability adjustments | — |  |  |  |  | — |  |  |  |  | — |  |  |
Other comprehensive earnings (loss), before tax | 36 |  |  |  |  | — |  |  |  |  | 36 |  |  |
Provision for income tax expense (benefit) related to items of other comprehensive earnings | — |  |  |  |  | — |  |  |  |  | — |  |  |
Other comprehensive earnings (loss), net of tax | $ | 36 |  |  | 36 |  |  | $ | — |  |  | — |  |  | $ | 36 |  |  | 36 |
Comprehensive earnings |  |  | 180 |  |  |  |  | (9 | ) |  |  |  | 171 |
Net (earnings) loss attributable to noncontrolling interest |  |  | (6 | ) |  |  |  | — |  |  |  |  | (6 | )
Other comprehensive (earnings) losses attributable to noncontrolling interest |  |  | (3 | ) |  |  |  | — |  |  |  |  | (3 | )
Comprehensive earnings attributable to FIS common stockholders |  |  | $ | 171 |  |  |  |  | $ | (9 | ) |  |  |  | $ | 162 |
Condensed Consolidated Statement of Cash Flows (Unaudited) for the three months ended March 31, 2017:
| As Previously |  |  |  |
| Reported |  | Adjustments |  | As Adjusted
Cash flows from operating activities: |  |  |  |  |
Net earnings | $ | 144 |  |  | $ | (9 | ) |  | $ | 135 |
Adjustment to reconcile net earnings to net cash provided by operating activities: |  |  |  |  |
Depreciation and amortization | 339 |  |  | (7 | ) |  | 332 |
Amortization of debt issue costs | 12 |  |  | — |  |  | 12 |
Gain on sale of assets | (85 | ) |  | — |  |  | (85 | )
Stock-based compensation | 26 |  |  | — |  |  | 26 |
Deferred income taxes | (150 | ) |  | (2 | ) |  | (152 | )
Net changes in assets and liabilities, net of effects from acquisitions and foreign currency: |  |  |  |  |
Trade receivables | 67 |  |  | (56 | ) |  | 11 |
Contract assets | — |  |  | 57 |  |  | 57 |
Settlement activity | (36 | ) |  | — |  |  | (36 | )
Prepaid expenses and other assets | (50 | ) |  | — |  |  | (50 | )
Deferred contract costs | (37 | ) |  | 1 |  |  | (36 | )
Deferred revenue | 77 |  |  | 19 |  |  | 96 |
Accounts payable, accrued liabilities, and other liabilities | 147 |  |  | (3 | ) |  | 144 |
Net cash provided by operating activities | 454 |  |  | — |  |  | 454 |
Cash flows from investing activities: |  |  |  |  |
Additions to property and equipment | (44 | ) |  | — |  |  | (44 | )
Additions to computer software | (111 | ) |  | — |  |  | (111 | )
Net proceeds from sale of assets | 827 |  |  | — |  |  | 827 |
Other investing activities, net | (1 | ) |  | — |  |  | (1 | )
Net cash provided by (used in) investing activities | 671 |  |  | — |  |  | 671 |
Cash flows from financing activities: |  |  |  |  |
Borrowings | 1,381 |  |  | — |  |  | 1,381 |
Repayment of borrowings and capital lease obligations | (2,443 | ) |  | — |  |  | (2,443 | )
Proceeds from exercise of stock options | 64 |  |  | — |  |  | 64 |
Treasury stock activity | (17 | ) |  | — |  |  | (17 | )
Dividends paid | (95 | ) |  | — |  |  | (95 | )
Other financing activities, net | (4 | ) |  | — |  |  | (4 | )
Net cash (used in) provided by financing activities | (1,114 | ) |  | — |  |  | (1,114 | )
Effect of foreign currency exchange rate changes on cash | 11 |  |  | — |  |  | 11 |
Net increase (decrease) in cash and cash equivalents | 22 |  |  | — |  |  | 22 |
Cash and cash equivalents, beginning of year | 683 |  |  | — |  |  | 683 |
Cash and cash equivalents, end of year | $ | 705 |  |  | $ | — |  |  | $ | 705 |
Supplemental cash flow information: |  |  |  |  |
Cash paid for interest | $ | 59 |  |  | $ | — |  |  | $ | 59 |
Cash paid for income taxes | $ | 55 |  |  | $ | — |  |  | $ | 55 |

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