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Segment Information
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information FIS reports its financial performance based on the following segments: Merchant Solutions, Banking Solutions, Capital Market Solutions and Corporate and Other. Below is a summary of each segment.
Merchant Solutions ("Merchant")

The Merchant segment is focused on serving merchants of all sizes globally, enabling them to accept, authorize and settle electronic payment transactions. Merchant includes all aspects of payment processing, including value-added services, such as security, fraud prevention, advanced data analytics, foreign currency management and numerous funding options. Merchant serves clients in over 100 countries. Our Merchant clients are highly-diversified, including global enterprises, national retailers and small- to medium-sized businesses. The Merchant segment utilizes broad and varied distribution channels, including direct sales forces and multiple referral partner relationships that provide us with access to new and existing markets.

Banking Solutions ("Banking")

The Banking segment is focused on serving financial institutions of all sizes with core processing software, transaction processing software and complementary applications and services, many of which interact directly with core processing software. We sell these solutions and services on either a bundled or stand-alone basis. Clients in this segment include global financial institutions, U.S. regional and community banks, credit unions and commercial lenders, as well as government institutions and other commercial organizations. Banking serves clients in more than 100 countries. We provide our clients integrated solutions characterized by multi-year processing contracts that generate highly recurring revenue. The predictable nature of cash flows generated from the Banking segment provides opportunities for further investments in innovation, integration, information and security, and compliance in a cost-effective manner.

Capital Market Solutions ("Capital Markets")

The Capital Markets segment is focused on serving global financial services clients with a broad array of buy- and sell-side solutions. Clients in this segment operate in more than 100 countries and include asset managers, buy- and sell-side securities brokerage and trading firms, insurers, private equity firms, and other commercial organizations. Our buy- and sell-side solutions include a variety of mission-critical applications for recordkeeping, data and analytics, trading, financing and risk management. Capital Markets clients purchase our solutions and services in various ways including licensing and managing technology "in-house," using consulting and third-party service providers, as well as procuring fully outsourced end-to-end solutions. Our long-established relationships with many of these financial and commercial institutions generate significant recurring revenue. We have made, and continue to make, investments in modern platforms, advanced technologies, open APIs, machine learning and artificial intelligence, and regulatory technology to support our Capital Markets clients.

Corporate and Other

The Corporate and Other segment consists of corporate overhead expense, certain leveraged functions and miscellaneous expenses that are not included in the operating segments, as well as certain non-strategic businesses that we plan to wind down or sell. The overhead and leveraged costs relate to corporate marketing, corporate finance and accounting, human resources, legal, and amortization of acquisition-related intangibles and other costs, such as acquisition and integration expenses, that are not considered when management evaluates revenue-generating segment performance.

In the Corporate and Other segment, for the three months ended March 31, 2022, the Company recorded acquisition and integration costs primarily related to the Worldpay acquisition as well as certain other costs, including cost associated with the Company's platform modernization totaling $80 million. The Company also recorded $58 million of asset impairments primarily for real estate-related assets as a result of office space reductions as well as $52 million of incremental amortization expense associated with shortened estimated useful lives and accelerated amortization methods for certain software and deferred contract cost assets driven by the Company's platform modernization for the three months ended March 31, 2022. For the three months ended March 31, 2021, the Company also recorded $104 million in accelerated stock compensation expense to reflect the impact of establishing a Qualified Retirement Equity Program that modified unvested equity awards outstanding at January 1, 2021 (see Note 9) as well as costs related to data center consolidation activities totaling $15 million. In addition, the Company recorded incremental costs directly related to COVID-19 of $9 million for the three months ended March 31, 2021.

Adjusted EBITDA

Adjusted EBITDA is a measure of segment profit or loss that is reported to the chief operating decision maker for purposes of making decisions about allocating resources to the segments and assessing their performance. For this reason, Adjusted EBITDA, as it relates to our segments, is presented in conformity with FASB ASC Topic 280, Segment Reporting. Adjusted
EBITDA is defined as net earnings (loss) before net interest expense, net other income (expense), income tax provision (benefit), equity method investment earnings (loss), and depreciation and amortization, and excludes certain costs and other transactions that management deems non-operational in nature. The non-operational items affecting the segment profit measure generally include the purchase price amortization of acquired intangible assets as well as acquisition, integration and certain other costs and asset impairments. Adjusted EBITDA also excludes incremental and direct costs resulting from the COVID-19 pandemic. These costs and adjustments are recorded in the Corporate and Other segment for the periods discussed below. Adjusted EBITDA for the respective segments excludes the foregoing costs and adjustments.

Summarized financial information for the Company's segments is shown in the following tables. The Company does not evaluate performance or allocate resources based on segment asset data; therefore, such information is not presented.

For the three months ended March 31, 2022 (in millions):
Capital
MerchantBankingMarketCorporate
SolutionsSolutionsSolutionsand OtherTotal
Revenue$1,112 $1,645 $658 $77 $3,492 
Operating expenses(682)(1,099)(439)(1,115)(3,335)
Depreciation and amortization (including purchase accounting amortization)92 151 89 681 1,013 
Acquisition, integration and other costs— — — 190 190 
Asset impairments— — — 58 58 
Adjusted EBITDA$522 $697 $308 $(109)$1,418 
Adjusted EBITDA$1,418 
Depreciation and amortization(363)
Purchase accounting amortization(650)
Acquisition, integration and other costs(190)
Asset impairments(58)
Interest expense, net(43)
Other income (expense), net    61 
(Provision) benefit for income taxes(54)
Net earnings attributable to noncontrolling interest(1)
Net earnings attributable to FIS common stockholders$120 
Capital expenditures$143 $158 $84 $27 $412 
For the three months ended March 31, 2021 (in millions):
Capital
MerchantBankingMarketCorporate
SolutionsSolutionsSolutionsand OtherTotal
Revenue$966 $1,540 $625 $92 $3,223 
Operating expenses(603)(1,018)(419)(1,084)(3,124)
Depreciation and amortization (including purchase accounting amortization)88 145 82 638 953 
Acquisition, integration and other costs— — — 256 256 
Adjusted EBITDA$451 $667 $288 $(98)$1,308 
Adjusted EBITDA$1,308 
Depreciation and amortization(279)
Purchase accounting amortization(674)
Acquisition, integration and other costs(256)
Interest expense, net(74)
Other income (expense), net    (493)
(Provision) benefit for income taxes97 
Equity method investment earnings (loss)1 
Net earnings attributable to noncontrolling interest(3)
Net earnings attributable to FIS common stockholders$(373)
Capital expenditures$104 $106 $54 $34 $298