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Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
As described in Note 1, the Company reports its financial performance based on the following segments: Banking Solutions, Capital Market Solutions and Corporate and Other. Below is a summary of each segment.

Banking Solutions ("Banking")

The Banking segment is focused on serving financial institutions 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 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. We provide our clients integrated solutions characterized by multi-year processing contracts that generate 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 and multi-national corporations with a broad array of buy- and sell-side, treasury, risk management and lending solutions. Clients in this segment include asset managers, private equity firms, sell-side securities brokerage and trading firms, insurers, asset and auto financiers and other commercial organizations. Our solutions include a variety of mission-critical buy- and sell-side applications for recordkeeping,
data and analytics, trading and financing as well as corporate treasury and risk management applications. Capital Markets clients purchase our solutions 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, finance, accounting, human resources, legal, compliance and internal audit functions, as well as other costs, such as acquisition, integration and transformation-related expenses, and amortization of acquisition-related intangibles that are not considered when management evaluates revenue-generating segment performance. Our other operating income recorded in connection with the TSA is also recorded in Corporate and Other. In the Corporate and Other segment, the Company recorded acquisition, integration and other costs comprised of the following (in millions):
Three months endedSix months ended
June 30,June 30,
2025202420252024
Acquisition and integration$43 $24 $51 $49 
Enterprise transformation, including Future Forward and platform modernization10 56 56 129 
Severance and other termination expenses (1)46 9 105 27 
Separation of the Worldpay Merchant Solutions business21 80 42 109 
Incremental stock compensation directly attributable to specific programs14 15 24 26 
Other, including divestiture-related expenses and enterprise cost control and other initiatives18 2 28 4 
Total$152 $186 $306 $344 
(1)During the three and six months ended June 30, 2025, the Company incurred severance and related termination benefit costs totaling $46 million and $105 million, respectively, related to its enterprise-wide cost savings initiatives and made corresponding cash payments of $38 million and $78 million, respectively. These amounts are included in Selling, general, and administrative expenses in the consolidated statements of earnings (loss). These costs are accounted for in accordance with ASC 712, Compensation–Nonretirement Postemployment Benefits. The Company continues to evaluate its organizational structure and expects to incur additional severance costs in the second half of 2025.

Other costs in Corporate and Other also include impairment charges and costs that were previously incurred in support of the Worldpay Merchant Solutions business but are not directly attributable to it and thus were not recorded in discontinued operations.

Adjusted EBITDA

Adjusted EBITDA is a measure of segment profit or loss that is reported to the chief operating decision maker, the Company's Chief Executive Officer and President, who utilizes the measure 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 that do not constitute normal, recurring, cash operating expenses necessary to operate our business. These excluded costs generally include the purchase price amortization of acquired intangible assets, as well as acquisition, integration and certain other costs and asset impairments. These excluded costs are recorded in the Corporate and Other segment. After adjusting for the foregoing items, our significant segment expenses consist of the following categories:
•Direct cost of revenue, which consists primarily of the cost of shipping, equipment, third-party data processing, loyalty program redemptions, printing, and card stock;

•Net personnel costs, which consist primarily of employee compensation and benefits expense and third-party labor and outsourcing costs, net of capitalized amounts;

•Infrastructure expense, which consists primarily of software, hardware, facilities and network costs;

•Allocated costs, which consist primarily of shared infrastructure and related operational personnel costs, as well as leveraged sales personnel costs, that are allocated to Banking and Capital Markets from Corporate and Other according to estimated usage; and

•Other costs, which consists primarily of the cost of third-party consulting and advisory services, employee travel and training, marketing, insurance, and bad debt, offset by TSA services income.

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 June 30, 2025 (in millions):

Capital
BankingMarketCorporate
SolutionsSolutionsand OtherTotal
Revenue$1,808 $765 $43 $2,616 
Direct cost of revenue(289)(45)(7)(341)
Net personnel costs(442)(203)(273)(918)
Infrastructure costs(65)(27)(148)(240)
Allocated costs(172)(98)270 — 
Other costs(51)(7)(18)(76)
Adjusted EBITDA$789 $385 $(133)$1,041 
Adjusted EBITDA$1,041 
Depreciation and amortization(309)
Purchase accounting amortization(172)
Acquisition, integration and other costs(152)
Interest expense, net(110)
Other income (expense), net   (159)
(Provision) benefit for income taxes(10)
Equity method investment earnings (loss), net of tax(598)
Net earnings attributable to noncontrolling interest(1)
Net earnings (loss) attributable to FIS$(470)
Capital expenditures (1)$149 $84 $5 $238 
Depreciation and amortization (including purchase accounting amortization)$170 $104 $207 $481 

(1) Capital expenditures include $20 million of certain hardware and software purchases subject to financing or other long-term payment arrangements.
For the three months ended June 30, 2024 (in millions):
Capital
BankingMarketCorporate
SolutionsSolutionsand OtherTotal
Revenue$1,711 $722 $57 $2,490 
Direct cost of revenue(268)(41)(3)(312)
Net personnel costs(457)(220)(229)(906)
Infrastructure costs(71)(22)(139)(232)
Allocated costs(137)(59)196 — 
Other costs(20)(13)(15)(48)
Adjusted EBITDA$758 $367 $(133)$992 
Adjusted EBITDA$992 
Depreciation and amortization(263)
Purchase accounting amortization(168)
Acquisition, integration and other costs(186)
Asset impairments(4)
Interest expense, net(43)
Other income (expense), net   (13)
(Provision) benefit for income taxes(87)
Equity method investment earnings (loss)10 
Net earnings (loss) from discontinued operations, net of tax1 
Net earnings attributable to noncontrolling interest(1)
Net earnings attributable to FIS$238 
Capital expenditures$109 $70 $4 $183 
Depreciation and amortization (including purchase accounting amortization)$161 $97 $173 $431 
For the six months ended June 30, 2025 (in millions):

Capital
BankingMarketCorporate
SolutionsSolutionsand OtherTotal
Revenue$3,526 $1,529 $93 $5,148 
Direct cost of revenue(567)(89)(15)(671)
Net personnel costs(896)(413)(566)(1,875)
Infrastructure costs(128)(52)(296)(476)
Allocated costs(363)(205)568 — 
Other costs(95)(16)(16)(127)
Adjusted EBITDA$1,477 $754 $(232)$1,999 
Adjusted EBITDA$1,999 
Depreciation and amortization(596)
Purchase accounting amortization(340)
Acquisition, integration and other costs(306)
Asset impairments(2)
Interest expense,net(190)
Other income (expense), net(195)
(Provision) benefit for income taxes(93)
Equity method investment earnings (loss), net of tax(669)
Net earnings attributable to noncontrolling interest(1)
Net earnings (loss) attributable to FIS common stockholders$(393)
Capital expenditures (1)
$339 $197 $12 $548 
Depreciation and amortization (including purchase accounting amortization)$336 $206 $394 $936 

(1) Capital expenditures include $97 million of certain hardware and software purchases subject to financing or other long-term payment arrangements.
For the six months ended June 30, 2024 (in millions):

Capital
BankingMarketCorporate
SolutionsSolutionsand OtherTotal
Revenue$3,395 $1,428 $135 $4,958 
Direct cost of revenue(516)(84)(26)(626)
Net personnel costs(921)(453)(455)(1,829)
Infrastructure costs(139)(42)(273)(454)
Allocated costs(282)(120)402 — 
Other costs(40)(27)(22)(89)
Adjusted EBITDA$1,497 $702 $(239)$1,960 
Adjusted EBITDA$1,960 
Depreciation and amortization(525)
Purchase accounting amortization(334)
Acquisition, integration and other costs(344)
Asset impairments(18)
Indirect Worldpay business support costs(14)
Interest expense, net(120)
Other income (expense), net(184)
(Provision) benefit for income taxes(108)
Equity method investment earnings (loss), net of tax(76)
Net earnings (loss) from discontinued operations, net of tax709 
Net earnings attributable to noncontrolling interest(1)
Net earnings attributable to FIS common stockholders$945 
Capital expenditures$227 $146 $12 $385 
Depreciation and amortization (including purchase accounting amortization)$321 $199 $339 $859 

Clients in the U.K., Germany, Australia, Switzerland, France, Netherlands and Brazil, accounted for the majority of the revenue from clients based outside of North America for all periods presented. No individual country outside of North America accounted for more than 10% of total revenue for the three and six months ended June 30, 2025 and 2024.

Long-term assets, excluding goodwill and other intangible assets, located outside of the United States totaled $851 million and $760 million as of June 30, 2025, and December 31, 2024, respectively. These assets are predominantly located in the United Kingdom, Ireland, Germany, Australia, India and Switzerland.