XML 41 R21.htm IDEA: XBRL DOCUMENT v3.20.4

Financial Instruments	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Financial Instruments Fair Value Hedges The Company holds interest rate swaps with €500 million and $1,000 million notional values, converting the interest rate exposure on the Company's Senior Euro Notes due 2024 and Senior USD Notes due 2029, respectively, from fixed to variable. The $1,000 million notional interest rate swap was entered into during December 2020. These swaps are designated as fair value hedges for accounting purposes with a net asset fair value of $10 million and $10 million at December 31, 2020 and 2019, respectively, reflected as an increase in the long-term debt balance (see Note 12). Net Investment Hedges The purpose of the Company's net investment hedges, as discussed below, is to reduce the volatility of FIS' net investment value in its Euro- and Pound Sterling-denominated operations due to changes in foreign currency exchange rates. The Company recorded net investment hedge aggregate gain (loss) for the change in fair value as Foreign currency translation adjustments and related income tax (expense) benefit within Other comprehensive earnings (loss), net of tax, on the consolidated statements of comprehensive earnings of $(951) million, $(229) million and $59 million, during the years ended December 31, 2020, 2019 and 2018, respectively. No ineffectiveness has been recorded on the net investment hedges. Foreign Currency-Denominated Debt Designations The Company designates certain foreign currency-denominated debt as net investment hedges of its investment in Euro- and Pound Sterling-denominated operations. As of December 31, 2020, an aggregate €8,466 million was designated as a net investment hedge of the Company's investment in Euro-denominated operations related to the Senior Euro Floating Rate Notes, Senior Euro Notes with maturities ranging from 2022 to 2039 and ECP Notes, and an aggregate £1,850 million was designated as a net investment hedge of the Company's Pound Sterling-denominated operations related to the Senior GBP Notes with maturities ranging from 2022 to 2031. Cross-Currency Interest Rate Swap Designations The Company holds cross-currency interest rate swaps and designates them as net investment hedges of its investment in Euro- and Pound Sterling-denominated operations. As of December 31, 2020, an aggregate notional amount of €4,508 million was designated as a net investment hedge of the Company's investment in Euro-denominated operations and an aggregate notional amount of £565 million was designated as a net investment hedge of the Company's Pound Sterling-denominated operations. The fair value of the cross-currency interest rate swaps was a net $(306) million and $(167) million liability at December 31, 2020 and 2019, respectively.

X

- References

No definition available.

+ Details

Name:	us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-URI http://asc.fasb.org/topic&trid=2229140

+ Details

Name:	us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration