Condensed Consolidated Financial Statement Details

6 Months Ended

Jun. 30, 2025

Condensed Consolidated Financial Statement Details [Abstract]

Condensed Consolidated Financial Statement Details

Cash and Cash Equivalents

The Company records restricted cash in captions other than Cash and cash equivalents on the consolidated balance sheets. The reconciliation between Cash and cash equivalents on the consolidated balance sheets and Cash, cash equivalents and restricted cash per the consolidated statements of cash flows is as follows (in millions):


	June 30, 2025		December 31, 2024
Cash and cash equivalents on the consolidated balance sheets	$	581	$	834
Merchant float from discontinued operations included in current assets held for sale	—		1,074
Cash from discontinued operations included in current assets held for sale	—		38
Total Cash, cash equivalents and restricted cash per the consolidated statements of cash flows	$	581	$	1,946

Settlement Assets

The principal components of the Company's settlement assets on the consolidated balance sheets are as follows (in millions):


	June 30, 2025		December 31, 2024
Settlement assets
Settlement deposits	$	573	$	353
Settlement receivables	201		126
Total Settlement assets	$	774	$	479

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets as of June 30, 2025, and December 31, 2024, consists of the following (in millions):


	June 30, 2025		December 31, 2024
Contract assets	$	269	$	220
Prepaid maintenance	223		171
Other prepaid expenses	155		112
Other current assets	122		135
Total Prepaid expenses and other current assets	$	769	$	638

Intangible Assets, Software and Property and Equipment

The following table provides details of Intangible assets, Software and Property and equipment as of June 30, 2025, and December 31, 2024 (in millions):


	June 30, 2025						December 31, 2024
	Cost		Accumulated depreciation and amortization		Net		Cost		Accumulated depreciation and amortization		Net
Intangible assets	$	6,606	$	5,434	$	1,172	$	6,444	$	5,126	$	1,318
Software	$	4,858	$	2,219	$	2,639	$	4,636	$	2,110	$	2,526
Property and equipment	$	2,139	$	1,447	$	692	$	2,083	$	1,437	$	646

As of June 30, 2025, Intangible assets, net of amortization, includes $1.0 billion of customer relationships and $122 million of trademarks and other intangible assets. Amortization expense with respect to Intangible assets was $159 million and $159 million for the three months and $314 million and $320 million for the six months ended June 30, 2025 and 2024, respectively.

Depreciation expense for property and equipment was $45 million and $44 million for the three months and $89 million and $88 million for the six months ended June 30, 2025 and 2024, respectively.

Amortization expense with respect to software was $173 million and $144 million for the three months and $341 million and $286 million for the six months ended June 30, 2025 and 2024, respectively

There were no software impairments during the three and six months ended June 30, 2025, and $4 million and $15 million of software impairments for the three months and six months ended June 30, 2024, respectively, primarily related to the termination of certain internally developed software projects.

Goodwill

Changes in goodwill during the six months ended June 30, 2025, are summarized below (in millions).


			Capital		Corporate
	Banking		Market		And
	Solutions		Solutions		Other		Total
Balance, December 31, 2024	$	12,699	$	4,541	$	20	$	17,260
Goodwill attributable to acquisitions	128		7		—		135
Foreign currency adjustments	55		127		—		182
Balance, June 30, 2025	$	12,882	$	4,675	$	20	$	17,577

We assess goodwill for impairment on an annual basis during the fourth quarter or more frequently if circumstances indicate potential impairment. We evaluated whether events and circumstances as of June 30, 2025, indicated potential impairment of our reporting units.

For our Banking and Capital Markets reporting units, we performed a qualitative assessment by examining factors most likely to affect our reporting units' fair values. The factors examined involve use of management judgment and included, among others, (1) forecast revenue, growth rates, operating margins, and capital expenditures used to calculate estimated future cash flows, (2) future economic and market conditions and (3) FIS' market capitalization. Based on our interim impairment assessment as of June 30, 2025, we concluded that it remained more likely than not that the fair value continues to exceed the carrying amount for each of these reporting units; therefore, goodwill was not impaired. Given the substantial excess of fair value over carrying amounts, we believe the likelihood of obtaining materially different results based on a change of assumptions to be low.

Equity Security Investments

The Company holds various equity securities without readily determinable fair values. These securities primarily represent strategic investments made by the Company, as well as investments obtained through acquisitions. Such investments totaled $190 million and $191 million at June 30, 2025, and December 31, 2024, respectively, and are included within Other noncurrent assets on the consolidated balance sheets. The Company accounts for these investments at cost, less impairment, and adjusts the carrying values for observable price changes from orderly transactions for identical or similar investments of the same issuer. These adjustments are generally considered Level 2-type fair value measurements. The Company records realized and unrealized gains and losses on these investments, as well as impairment losses, as Other income (expense), net in the consolidated statements of earnings (loss) and recorded net gains (losses) of $(1) million and $(3) million for the three months and $(3) million and $(4) million for the six months ended June 30, 2025 and 2024, respectively, related to these investments.

Accounts Payable, Accrued and Other Liabilities

Accounts payable, accrued and other liabilities as of June 30, 2025, and December 31, 2024, consisted of the following (in millions):


	June 30, 2025		December 31, 2024
Trade accounts payable	$	270	$	214
Accrued salaries and incentives	291		445
Derivatives	208		70
Accrued benefits and payroll taxes	113		74
Income taxes payables	8		279
Taxes other than income tax	87		126
Accrued interest payable	78		117
Operating lease liabilities	67		74
Related-party payables	21		25
Other accrued liabilities	555		570
Total Accounts payable, accrued and other liabilities	$	1,698	$	1,994