Revision of Prior-Period Consolidated Financial Statements

12 Months Ended

Dec. 31, 2024

Accounting Changes and Error Corrections [Abstract]

Revision of Prior-Period Consolidated Financial Statements

As discussed in Note 1, below is a summary of the revisions to the Company's previously reported financial statements. Revisions to our previously reported disclosures have also been reflected within the consolidated financial statements being filed with this Annual Report on Form 10-K. The misstatements created immaterial reclassifications within the Company's cash flows from operating activities of continuing operations on the consolidated statements of cash flows; however, there was no net impact to cash flows from operating activities, investing activities or financing activities of continuing operations on our consolidated statement of cash flows. Accordingly, a revision table for the consolidated statement of cash flows is not included below.

The following tables set forth our revisions to the consolidated statement of earnings (loss) and comprehensive earnings (loss) for each of the years ended December 31, 2023 and 2022 (in millions).


	For the year ended December 31, 2023						For the year ended December 31, 2022
	As reported		Adjustment		As revised		As reported		Adjustment		As revised
Revenue	$	9,821	$	10	$	9,831	$	9,719	$	1	$	9,720
Cost of revenue	6,145		30		6,175		6,216		43		6,259
Operating income	1,467		(20)		1,447		1,218		(42)		1,176
Other income (expense), net	(183)		18		(164)		4		(2)		3
Earnings (loss) before income taxes and equity method investment earnings (loss)	663		(2)		662		941		(44)		898
Provision (benefit) for income tax	157		(1)		157		325		(11)		314
Net earnings (loss) from continuing operations	506		(1)		505		616		(33)		584
Net earnings (loss) attributable to FIS	(6,654)		(1)		(6,655)		(16,720)		(33)		(16,752)
Net earnings (loss) attributable to FIS from continuing operations	503		(1)		502		608		(33)		576

Basic earnings (loss) per common share attributable to FIS from continuing operations	0.85		—		0.85		1.01		(0.05)		0.95
Basic earnings (loss) per common share attributable to FIS	(11.26)		—		(11.26)		(27.68)		(0.05)		(27.74)
Diluted earnings (loss) per common share attributable to FIS from continuing operations	0.85		—		0.85		1.01		(0.05)		0.95
Diluted earnings (loss) per common share attributable to FIS	(11.26)		—		(11.26)		(27.68)		(0.05)		(27.74)

Net earnings (loss)	(6,647)		(1)		(6,648)		(16,708)		(33)		(16,740)
Comprehensive earnings (loss)	(6,547)		(1)		(6,548)		(17,320)		(33)		(17,352)
Comprehensive earnings (loss) attributable to FIS	(6,554)		(1)		(6,555)		(17,332)		(33)		(17,364)

Amounts in tables may not sum or calculate due to rounding.

The following table sets forth our revisions to the consolidated balance sheet as of December 31, 2023 (in millions).


	December 31, 2023
	As reported		Adjustment		As revised
Trade receivables, net of allowance for credit losses of $31	$	1,730	$	8	$	1,738
Other receivables	287		(178)		109
Prepaid expenses and other current assets	603		38		641
Total current assets	13,788		(132)		13,656
Total assets	55,105		(132)		54,973
Accounts payable, accrued and other liabilities	1,859		(86)		1,773
Deferred revenue	832		(3)		829
Total current liabilities	18,318		(89)		18,229
Total liabilities	36,006		(89)		35,917
(Accumulated deficit) retained earnings	(22,864)		(42)		(22,905)
Total FIS stockholders' equity	19,093		(43)		19,050
Total equity	19,099		(43)		19,056
Total liabilities and equity	55,105		(132)		54,973

Amounts in tables may not sum or calculate due to rounding.

The following table sets forth our revisions to the consolidated statements of equity (deficit) for years ended December 31, 2023 and 2022 (in millions).


	(Accumulated deficit) / Retained earnings						Total equity
	As reported		Adjustment		As revised		As reported		Adjustment		As revised
Balances at December 31, 2021	$	2,889	$	(8)	$	2,881	$	47,358	$	(8)	$	47,350
Issuance of restricted stock	—		—		—		5		—		5
Exercise of stock options	—		—		—		61		—		61
Purchases of treasury stock	—		—		—		(1,829)		—		(1,829)
Treasury shares held for taxes due upon exercise of stock awards	—		—		—		(109)		—		(109)
Stock-based compensation	—		—		—		215		—		215
Cash dividends declared ($1.88 per share) and other distributions	(1,140)		—		(1,140)		(1,150)		—		(1,150)
Net earnings (loss)	(16,720)		(32)		(16,752)		(16,713)		(32)		(16,745)
Other comprehensive earnings (loss), net of tax	—		—		—		(612)		—		(612)
Balances at December 31, 2022	(14,971)		(40)		(15,011)		27,226		(40)		27,186
Issuance of restricted stock	—		—		—		—		—		—
Exercise of stock options	—		—		—		40		—		40
Purchases of treasury stock	—		—		—		(510)		—		(510)
Treasury shares held for taxes due upon exercise of stock awards	—		—		—		(22)		—		(22)
Stock-based compensation	—		—		—		153		—		153
Cash dividends declared ($2.08 per share) and other distributions	(1,239)		—		(1,239)		(1,248)		—		(1,248)
Other	—		—		—		7		(2)		5
Net earnings (loss)	(6,654)		(1)		(6,655)		(6,647)		(1)		(6,648)
Other comprehensive earnings (loss), net of tax	—		—		—		100		—		100
Balances at December 31, 2023	(22,864)		(41)		(22,905)		19,099		(43)		19,056

Amounts in tables may not sum or calculate due to rounding.