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Share Name | Share Symbol | Market | Type |
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Fidelity National Information Services Inc | NYSE:FIS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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-0.35 | -0.47% | 73.96 | 75.10 | 72.67 | 74.40 | 3,653,764 | 20:32:19 |
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ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the fiscal year ended December 31, 2016
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or
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the transition period from to
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Georgia
(State or other jurisdiction of incorporation or organization)
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37-1490331
(I.R.S. Employer Identification No.)
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601 Riverside Avenue
Jacksonville, Florida
(Address of principal executive offices)
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32204
(Zip Code)
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Title of Each Class:
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Name of Each Exchange on Which Registered:
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Common Stock, par value $0.01 per share
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New York Stock Exchange
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Large accelerated filer
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Accelerated filer
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Non-accelerated filer
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Smaller reporting company
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(Do not check if a smaller reporting company)
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Page
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Item 14
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EX-10.25
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EX-10.26
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EX-10.44
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EX-10.60
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EX-10.61
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EX-10.62
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EX-21.1
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EX-23.1
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EX-31.1
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EX-31.2
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EX-32.1
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EX-32.2
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EX-101 INSTANCE DOCUMENT
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EX-101 SCHEMA DOCUMENT
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EX-101 CALCULATION LINKBASE DOCUMENT
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EX-101 DEFINITION LINKBASE DOCUMENT
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EX-101 LABELS LINKBASE DOCUMENT
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EX-101 PRESENTATION LINKBASE DOCUMENT
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Brand
- FIS has built a global brand known for innovation and thought leadership in the financial services sector. Our Capco subsidiary extends the strong brand through consulting and technology services in this sector, and the completion of the SunGard acquisition has helped us expand our brand through the relationships SunGard built across 14,000 customers in more than 100 countries.
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Global Distribution and Scale -
Our worldwide presence, array of solution offerings, customer breadth, established infrastructure and employee depth enable us to leverage our client relationships and global scale to drive revenue growth and operating efficiency. We are a global leader in the markets we serve, supported by a large, knowledgeable talent pool of employees around the world.
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Extensive Domain Expertise and Extended Portfolio Depth
- FIS has a significant number and wide range of high-quality software applications and service offerings that have been developed over many years with substantial input from our customers. With a business model founded on software and addressing industry verticals that are largely complementary to ours, the SunGard acquisition has allowed us to extend our breadth of applications and service offerings to financial institutions and other customers. Our broad portfolio of solutions includes a wide range of flexible service arrangements for the deployment and support of our software, from managed processing arrangements, either at the customer's site or at an FIS location, to traditional license and maintenance fee approaches. This broad solution set allows us to bundle tailored or integrated services to compete effectively. In addition, FIS is able to use the modular nature of our software applications and our ability to integrate many of our services with the services of others to provide customized solutions that respond to individualized customer needs. We understand the needs of our customers and have developed and acquired innovative solutions that can give them a competitive advantage and reduce their operating costs.
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Excellent Relationship with Customers
- A significant percentage of FIS’ business with our customers relates to applications and services provided under multi-year, recurring contracts. The nature of these relationships allows us to develop close partnerships with these customers, resulting in high client retention rates. As the breadth of FIS’ service offerings has expanded, we have found that our access to key customer personnel is increasing, presenting greater opportunities for cross-selling and providing integrated, total solutions to our customers.
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Build, Buy, or Partner to Add Solutions to Cross-Sell
- We continue to invest in growth through internal product development, as well as through acquisitions and equity investments that complement and extend our existing solutions and capabilities, providing us with additional solutions to cross-sell. The SunGard acquisition added a significant incremental solution set to our portfolio of offerings. We also partner from time to time with other entities to provide comprehensive offerings to our prospects and customers. By investing in solution innovation and integration, we continue to expand our value proposition to our prospects and clients.
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Support Our Clients Through Innovation
- Changing market dynamics, particularly in the areas of information security, regulation and innovation, are transforming the way our clients operate, which is driving incremental demand for our leveraged solutions, consulting expertise, and services around our intellectual property. As prospects and customers evaluate technology, business process changes and vendor risks, our depth of services capabilities enables us to become involved earlier in their planning and design process and assist them as they manage through these changes.
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Continually Improve to Drive Margin Expansion
- We strive to optimize our performance through investments in infrastructure enhancements, our workforce and other measures that are designed to create organic revenue and margin expansion. With the SunGard acquisition and the resulting extended economies of scale, we are pursuing further margin expansion as we integrate our operations globally.
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Expand Client Relationships
- The overall market
we serve
continues to gravitate beyond single-product purchases to multi-solution partnerships. As the market dynamics shift, we expect our clients and prospects to rely more on our multidimensional service offerings. Our leveraged solutions and processing expertise can produce meaningful value and cost savings for our clients through more efficient operating processes, improved service quality and convenience
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Build Global Diversification
- We continue to deploy resources in global markets where we expect to achieve meaningful scale. The SunGard acquisition added significant customers, resources and solutions globally.
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2016
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2015
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2014
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IFS
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$
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4,566
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$
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3,846
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$
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3,679
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GFS
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4,250
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2,360
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2,198
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Corporate & Other
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425
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390
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536
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Total Consolidated Revenues
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$
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9,241
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$
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6,596
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$
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6,413
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Core Processing and Ancillary Applications.
Our core processing software applications are designed to run banking processes for our financial institution clients, including deposit and lending systems, customer management, and other central management systems, serving as the system of record for processed activity. Our diverse selection of market-focused core systems enables FIS to compete effectively in a wide range of markets. We also offer a number of services that are ancillary to the primary applications listed above, including branch automation, back office support systems and compliance support.
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Digital Solutions, Including Internet, Mobile and eBanking.
Our comprehensive suite of retail delivery applications enables financial institutions to integrate and streamline customer-facing operations and back-office processes, thereby improving customer interaction across all channels (e.g., branch offices, Internet, ATM, Mobile, call centers). FIS' focus on consumer access has driven significant market innovation in this area, with multi-channel and multi-host solutions and a strategy that provides tight integration of services and a seamless customer experience. FIS is a leader in mobile banking solutions and electronic banking enabling clients to manage banking and payments through the Internet, mobile devices, accounting software and telephone. Our corporate electronic banking solutions provide commercial treasury capabilities including cash management services and multi-bank collection and disbursement services that address the specialized needs of corporate clients. FIS systems provide full accounting and reconciliation for such transactions, serving also as the system of record.
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Fraud, Risk Management and Compliance Solutions.
Our decision solutions offer a spectrum of options that cover the account lifecycle from helping to identify qualified account applicants to managing existing customer accounts and fraud. Our applications include know-your-customer, new account decisioning and opening, account and transaction management, fraud management and collections. Our risk management services use our proprietary risk management models and data sources to assist in detecting fraud and assessing the risk of opening a new account. Our systems use a combination of advanced authentication procedures, predictive analytics, artificial intelligence modeling and proprietary and shared databases to assess and detect fraud risk for deposit transactions for financial institutions. We
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Electronic Funds Transfer and Network Services.
Our electronic funds transfer and debit card processing businesses offer settlement and card management solutions for financial institution card issuers. We provide traditional ATM-based debit network access through NYCE and emerging real-time payment alternatives. NYCE connects millions of cards and point-of-sale locations nationwide, providing consumers with secure, real-time access to their money. Also through NYCE, clients such as financial institutions, retailers and independent ATM operators can capitalize on the efficiency, consumer convenience and security of electronic real-time payments, real-time account-to-account transfers, and strategic alliances such as surcharge-free ATM network arrangements.
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Card and Retail Solutions.
Approximately 5,900 financial institutions use a combination of our technology and/or services to issue VISA
®
, MasterCard
®
or American Express
®
branded credit and debit cards or other electronic payment cards for use by both consumer and business accounts. Card transactions continue to increase as a percentage of total point-of-sale payments, which fuels continuing demand for card-related services. We offer Europay, MasterCard and VISA ("EMV") integrated circuit cards, often referred to as smart cards or chip cards, as well as a variety of stored-value card types and loyalty/reward programs. Our integrated services range from card production and activation to processing to an extensive range of fraud management services and value-added loyalty programs designed to increase card usage and fee-based revenues for financial institutions and merchants. The majority of our programs are full service, including most of the operations and support necessary for an issuer to operate a credit card program. We do not make credit decisions for our card issuing clients. We are also a leading provider of prepaid card services, which include gift cards and reloadable cards, with end-to-end solutions for development, processing and administration of stored-value programs. Our closed loop gift card solutions and loyalty programs provide merchants compelling solutions to drive consumer loyalty. In addition, our merchant processing service provides a merchant or financial institution a comprehensive solution to manage its merchant card activities, including point-of-sale equipment, transaction authorization, draft capture, settlement, charge-back processing and reporting.
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Corporate Liquidity.
Our corporate liquidity solutions help chief financial officers and treasurers manage working capital by increasing visibility to cash, reducing risk and improving communication and response time between a company’s buyers, suppliers, banks and other stakeholders. Our end-to-end collaborative financial management framework helps bring together receivables, treasury and payments for a single view of cash and risk, which helps our clients optimize business processes for enhanced liquidity management.
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Wealth Management.
We provide wealth management solutions that help banks, trust companies, brokerage firms, insurance firms, benefit administrators and independent advisors acquire, service and grow their client relationships. We provide solutions for client acquisition, transaction management, trust accounting and recordkeeping that can be deployed as stand-alone products or as part of an integrated wealth management platform.
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Item Processing and Output Services.
Our item processing services furnish financial institutions with the technology needed to capture data from checks, transaction tickets and other items; image and sort items; process exceptions through keying; and perform balancing, archiving and the production of statements. Our item processing services are performed at one of our multiple item processing centers located throughout the U.S. or on-site at client locations. Our extensive solutions include distributed (i.e., non-centralized) data capture, mobile deposit capture, check and remittance processing, fraud detection, and document and report management. Clients encompass banks and corporations of all sizes, from de novo banks to the largest financial institutions and corporations. We offer a number of output services that are ancillary to the primary solutions we provide, including print and mail capabilities, document composition software and solutions, and card personalization fulfillment services. Our print and mail services offer complete computer output solutions for the creation, management and delivery of print and fulfillment needs. We provide our card personalization fulfillment services for branded credit cards and branded and non-branded debit and prepaid cards.
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Government Payments Solutions.
We provide comprehensive, customized electronic service applications for government agencies, including Internal Revenue Service (IRS) payment services, government food stamp and nutrition programs known as Supplemental Nutrition Assistance Program (“SNAP”) and Women, Infants and Children ("WIC"). We also facilitate the collection of state income taxes, real estate taxes, utility bills, vehicle registration fees, driver’s license renewal fees, parking tickets, traffic citations, tuition payments, court fees and fines, hunting and fishing license fees, as well as various business licenses.
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ePayment Solutions.
We provide reliable and scalable bill publishing and bill consolidation technology for our clients, generating and facilitating the payment of millions of monthly bills, servicing both billers and financial institution clients. Online bill payment functionality includes credit and debit card-based expedited payments. Our end-to-end presentment and payment solution provides an all-in-one solution to meet billers’ needs for the distribution and collection of bills and other customer documents. FIS also provides Automated Clearing House ("ACH") processing.
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Securities Processing and Finance.
Our offerings help financial institutions to increase the efficiency, transparency and control of their back-office trading operations, post-trade processing and settlement, risk management, securities lending, syndicated lending, tax processing, and regulatory compliance. The breadth of our offerings also facilitates advanced business intelligence and market data distribution based on our extensive market data access.
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Global Trading
. Our trading solutions provide trade execution, data and network solutions to financial institutions, corporations and municipalities in North America, Europe and other global markets across a variety of asset classes. Our trade execution and network solutions help both buy- and sell-side firms improve execution quality, decrease overall execution costs and address today’s trade connectivity challenges.
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Asset Management and Insurance
. We offer solutions that help institutional investors, insurance companies, hedge funds, private equity firms, fund administrators and securities transfer agents improve both investment decision-making and operational efficiency, while managing risk and increasing transparency. Our Asset Management solutions support every stage of the investment process, from research and portfolio management, to valuation, risk management, compliance, investment accounting, transfer agency and client reporting. Our Insurance solutions help support front office and back office functions including actuarial risk calculations, policy administration and financial and investment accounting and reporting for a variety of insurance lines, including life and health, annuities and pensions, property and casualty, reinsurance, and asset management.
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Retail Banking and Payments Services.
Our GFS operations leverage existing applications and provide services for the specific business needs of our customers in targeted global markets. Services are delivered from our operation centers around the world. Our banking solution services include fully outsourced core bank processing arrangements, application management, software licensing and maintenance and facilities management. Our payment solution services include fully outsourced card-issuer services and customer support, payment processing (including real-time payments) and switching services, prepaid and debit card processing, software licensing and maintenance, outsourced ATM management and retail point-of-sale check warranty services.
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Strategic Consulting Services.
We provide complex consulting, technology and large-scale IT transformation services to financial institutions. Our consultants work with financial institutions to design and implement improvements in their information technology architecture, providing design, digital strategy consulting, program and change management and delivery services. Global financial institutions in particular can benefit from the combination of our expertise and our broad solution set as they transform in the evolving marketplace to restore customer confidence, reduce their cost structure and provide innovative solutions to their customers.
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Public Sector and Education.
Our solutions provide domain-specific, mission critical enterprise resource planning and administrative software to domestic state and local governments and K-12 educational institutions. Our public sector offerings are designed to meet the specialized needs of local and state governments, public safety and justice agencies, and K-12 educational institutions. These offerings include software and technology services supporting a range of specialized enterprise resource planning and administrative processes for functions such as accounting, human resources, emergency dispatch operations, the operation of courts and jails, and K-12 student information systems. We completed the sale of our Public Sector and Education business to portfolio companies of Vista Equity Partners on February 1, 2017. (see Note 15 of the Notes to the Consolidated Financial Statements).
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Global Commercial Services.
Our global commercial services include solutions, both onshore and offshore, designed to meet the technology challenges facing clients, large or small, including financial institutions and non-financial institutions. These solutions range in scope from operations support for a single application to full management of information technology infrastructures. We also provide outsourcing teams to manage costs, improve operational efficiency and transform our clients' back office and customer service processes.
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Retail Check Processing.
Our check authorization business provides check risk management and related services to businesses accepting or cashing checks. Our services assess the likelihood (and often provide a guarantee) that a check will clear. Our check authorization system uses artificial intelligence modeling and other state-of-the-art technology to deliver accuracy, convenience and simplicity to retailers.
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Oversight by Banking Regulators.
As a provider of electronic data processing and back-office services to financial institutions, FIS is subject to regulatory oversight and examination by the Federal Banking Agencies ("FBA"),
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Oversight by Securities Regulators.
Our subsidiary that conducts our broker-dealer business in the U.S. is registered as a broker-dealer with the SEC, is a member of FINRA, and is registered as a broker-dealer in numerous states. Our broker-dealer is subject to regulation and oversight by the SEC. In addition, FINRA, a self-regulatory organization that is subject to oversight by the SEC, adopts and enforces rules governing the conduct, and examines the activities, of its member firms, including our broker-dealer. State securities regulators also have regulatory or oversight authority over our broker-dealer. Broker-dealers are subject to regulations that cover all aspects of the securities business, including sales methods, trade practices among broker-dealers, public and private securities offerings, use and safekeeping of customers’ funds and securities, capital structure, record keeping, the financing of customers’ purchases and the conduct and qualifications of directors, officers and employees. In particular, as a registered broker-dealer and member of a self-regulatory organization, we are subject to the SEC’s uniform net capital rule, Rule 15c3-1. Rule 15c3-1 specifies the minimum level of net capital a broker-dealer must maintain and also requires that a significant part of a broker-dealer’s assets be kept in relatively liquid form. The SEC and various self-regulatory organizations impose rules that require notification when net capital falls below certain predefined criteria, limit the ratio of subordinated debt to equity in the regulatory capital composition of a broker-dealer and constrain the ability of a broker-dealer to expand its business under certain circumstances. Additionally, the SEC’s uniform net capital rule imposes certain requirements that may have the effect of prohibiting a broker-dealer from distributing or withdrawing capital and requiring prior notice to the SEC for certain withdrawals of capital.
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Privacy.
Our financial institution clients are required to comply with privacy regulations imposed under the Gramm-Leach-Bliley Act. These regulations place restrictions on the use of non-public personal information. All financial institutions must disclose detailed privacy policies to their customers and offer them the opportunity to direct the
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Money Transfer.
Elements of our cash access and money transmission businesses are registered as a Money Services Business and are subject to the USA Patriot Act and reporting requirements of the Bank Secrecy Act and U.S. Treasury Regulations. These businesses may also be subject to certain state, local and licensing requirements. In applicable states, we have obtained money transmitter licenses. The Financial Crimes Enforcement Network, state attorneys general, and other agencies have enforcement responsibility over laws relating to money laundering, currency transmission, and licensing. In addition, most states have enacted statutes that require entities engaged in money transmission and the sale of stored value cards to register as a money transmitter with that jurisdiction's banking department. Outside the U.S., applicable laws, rules and regulations similarly require designated types of financial institutions to implement anti-money laundering programs. We have implemented policies, procedures and internal controls that are designed to comply with all applicable anti-money laundering laws and regulations. FIS has also implemented policies, procedures, and internal controls that are designed to comply with the regulations and economic sanctions programs administered by the U.S. Treasury’s Office of Foreign Assets Control (“OFAC”), which enforces economic and trade sanctions against targeted foreign countries, entities and individuals based on external threats to the U.S. foreign policy, national security, or economy; by other governments; or by global or regional multilateral organizations, such as the United Nations Security Council and the European Union.
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Consumer Reporting and Protection.
Our retail check authorization services (Certegy Check Services) and account opening services, including credit scoring analysis (ChexSystems), maintain databases of consumer information and, as a consequence, are subject to the Federal Fair Credit Reporting Act and similar state laws. Among other things, the Federal Fair Credit Reporting Act imposes requirements on us concerning data accuracy, and provides that consumers have the right to know the contents of their files, to dispute their accuracy, and to require verification or removal of disputed information. The Federal Trade Commission, as well as state attorneys general and other agencies, have enforcement responsibility over the collection laws, as well as the various credit reporting laws. In furtherance of our objectives of data accuracy, fair treatment of consumers, protection of consumers’ personal information, and compliance with these laws, we strive to, and have made considerable investment to, maintain a high level of security for our computer systems in which consumer data resides, and we maintain consumer relations call centers to facilitate efficient handling of consumer requests for information and handling disputes. We also are focused on ensuring our operating environments safeguard and protect consumer's personal information in compliance with these laws.
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Debt Collection.
Our collection services supporting our check, card and payment environments are subject to the Federal Fair Debt Collection Practices Act and various state collection laws and licensing requirements. The Federal Trade Commission, as well as state attorneys general and other agencies, have enforcement responsibility over the collection laws, as well as the various credit reporting laws.
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Anti-Corruption
. FIS is subject to applicable anti-corruption laws, such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act, in the jurisdictions in which it operates. Anti-corruption laws generally prohibit offering, promising, giving, or authorizing others to give anything of value, either directly or indirectly, to a government official or private party in order to influence official action or otherwise gain an unfair business advantage, such as to obtain or retain business. FIS has implemented policies, procedures, and internal controls that are designed to comply with such laws, rules and regulations.
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Item 1A.
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Risk Factors
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customers periodically renew or upgrade their installed base of our solutions, which trigger buying cycles for current or new versions of our solutions and our revenue generally fluctuates with these refresh cycles as a result;
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the budgeting cycles and purchasing practices of customers, particularly large customers;
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changes in customer, distributor or reseller requirements or market needs;
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deferral of orders from customers in anticipation of new solutions or offerings announced by us or our competitors or otherwise anticipated by the market;
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our ability to successfully expand our business domestically and internationally; and
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insolvency or credit difficulties confronting our customers, which could adversely affect their ability to purchase or pay for our solutions.
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changes in a specific country or region’s political and cultural climate or economic condition, including change in governmental regime;
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trade-protection measures, import or export licensing requirements such as Export Administration Regulations promulgated by the U.S. Department of Commerce and fines, penalties or suspension or revocation of export privileges;
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trade sanctions imposed by the United States or other governments with jurisdictional authority over our business operations;
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the effects of applicable and potentially adverse foreign tax law changes;
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significant adverse changes in foreign currency exchange rates;
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longer accounts receivable cycles;
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managing a geographically dispersed workforce; and
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compliance with the U.S. Foreign Corrupt Practices Act, or FCPA, and the Office of Foreign Assets
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Our international sales are denominated in both the U.S. dollar and currencies other than U.S. dollars. A fluctuation of currency exchange rates may expose us to gains and losses on non-U.S. currency transactions and a potential devaluation of the local currencies of our clients relative to the U.S. dollar may impair the purchasing power of our clients and could cause clients to decrease or cancel orders or default on payment; and
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We translate sales and other results denominated in non-U.S. foreign currency into U.S. dollars for our financial statements. During periods of a strengthening dollar, our reported international sales and earnings could be reduced because foreign currencies may translate into fewer U.S. dollars.
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the risk that acquired businesses will not be integrated successfully, or that the integration will be more costly or more time-consuming and complex than anticipated;
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the risk that cost savings and other synergies anticipated to be realized from acquisitions may not be fully realized or may take longer to realize than expected;
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the risks of doing business internationally;
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changes in general economic, business and political conditions, including the possibility of intensified international hostilities, acts of terrorism, changes in either or both the United States and international lending, capital and financial markets and currency fluctuations;
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the effect of legislative initiatives or proposals, statutory changes, governmental or other applicable regulations and/or changes in industry requirements, including privacy regulations;
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the risks of reduction in revenue from the elimination of existing and potential customers due to consolidation in, or new laws or regulations affecting, the banking, retail and financial services industries or due to financial failures or other setbacks suffered by firms in those industries;
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changes in the growth rates of the markets for our solutions;
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failure to adapt our solutions to changes in technology or in the marketplace;
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internal or external security breaches of our systems, including those relating to unauthorized access, theft, corruption or loss of personal information and computer viruses and other malware affecting our software or platforms, and the reactions of customers, card associations, government regulators and others to any such events;
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the risk that implementation of software (including software updates) for customers or at customer locations may result in the corruption or loss of data or customer information, interruption of business operations, exposure to liability claims or loss of customers;
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the reaction of current and potential customers to communications from us or regulators regarding information security, risk management, internal audit or other matters;
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competitive pressures on pricing related to the decreasing number of community banks in the U.S., the development of new disruptive technologies competing with one or more of our solutions, increasing presence of international competitors in the U.S. market and the entry into the market by global banks and global companies with respect to certain competitive solutions, each of which may have the impact of unbundling our solutions with our customers;
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the failure to innovate in order to keep up with new emerging technologies could impact our solutions, including the ability to attract new, or retain existing, customers;
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an operational or natural disaster at one of our major operations centers; and
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other risks detailed elsewhere in this Risk Factors section and in our other filings with the Securities and Exchange Commission.
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Item 1B.
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Unresolved Staff Comments
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Item 2.
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Properties
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Item 3.
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Legal Proceedings
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These matters raise difficult and complicated factual and legal issues and are subject to many uncertainties and complexities.
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The Company reviews all of its litigation on an on-going basis and follows the authoritative provisions for accounting for contingencies when making accrual and disclosure decisions. A liability must be accrued if (a) it is probable that a liability has been incurred and (b) the amount of loss can be reasonably estimated. If one of these criteria has not been met, disclosure is required when there is at least a reasonable possibility that a material loss may be incurred. When assessing reasonably possible and probable outcomes, the Company bases decisions on the assessment of the ultimate outcome following all appeals. Legal fees associated with defending litigation matters are expensed as incurred.
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Item 4.
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Mine Safety Disclosures
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Item 5.
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Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
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High
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Low
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Dividend
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||||||
2016
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First Quarter
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$
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63.31
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$
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56.04
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$
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0.26
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Second Quarter
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$
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75.45
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$
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63.44
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$
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0.26
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Third Quarter
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$
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80.84
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$
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74.25
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$
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0.26
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Fourth Quarter
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$
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79.00
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$
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73.92
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$
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0.26
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2015
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First Quarter
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$
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68.68
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$
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61.25
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$
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0.26
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Second Quarter
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$
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68.51
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$
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61.78
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$
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0.26
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Third Quarter
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$
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71.86
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$
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61.58
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$
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0.26
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Fourth Quarter
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$
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73.50
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$
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58.52
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$
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0.26
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Total cost of shares
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|||||
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purchased as part of
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|||||
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Total number of
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Average price
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publicly announced
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|||||
Year ended
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shares purchased
|
|
paid per share
|
|
plans or programs
|
|||||
December 31, 2016
|
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
December 31, 2015
|
|
5
|
|
|
$
|
66.10
|
|
|
$
|
300
|
|
December 31, 2014
|
|
9
|
|
|
$
|
54.89
|
|
|
$
|
476
|
|
|
12/11
|
12/12
|
12/13
|
12/14
|
12/15
|
12/16
|
|
|
|
|
|
|
|
Fidelity National Information Services, Inc.
|
100.00
|
134.12
|
210.97
|
248.68
|
246.21
|
311.81
|
S&P 500
|
100.00
|
116.00
|
153.58
|
174.60
|
177.01
|
198.18
|
S&P Supercap Data Processing & Outsourced Services
|
100.00
|
126.06
|
194.91
|
218.05
|
247.68
|
267.14
|
Item 6.
|
Selected Financial Data
|
|
Year Ended December 31,
|
||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2013
|
|
2012
|
||||||||||
|
|
|
(In millions, except per share data)
|
|
|
||||||||||||||
Statement of Earnings Data:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Processing and services revenues
|
$
|
9,241
|
|
|
$
|
6,596
|
|
|
$
|
6,413
|
|
|
$
|
6,063
|
|
|
$
|
5,796
|
|
Cost of revenues
|
6,233
|
|
|
4,395
|
|
|
4,327
|
|
|
4,092
|
|
|
3,956
|
|
|||||
Gross profit
|
3,008
|
|
|
2,201
|
|
|
2,086
|
|
|
1,971
|
|
|
1,840
|
|
|||||
Selling, general and administrative expenses
|
1,710
|
|
|
1,102
|
|
|
815
|
|
|
908
|
|
|
764
|
|
|||||
Operating income
|
1,298
|
|
|
1,099
|
|
|
1,271
|
|
|
1,063
|
|
|
1,076
|
|
|||||
Total other income (expense)
|
(392
|
)
|
|
(62
|
)
|
|
(218
|
)
|
|
(239
|
)
|
|
(248
|
)
|
|||||
Earnings from continuing operations before income taxes and equity in loss of unconsolidated entities
|
906
|
|
|
1,037
|
|
|
1,053
|
|
|
824
|
|
|
828
|
|
|||||
Provision for income taxes
|
317
|
|
|
379
|
|
|
335
|
|
|
309
|
|
|
270
|
|
|||||
Earnings from continuing operations, net of tax
|
589
|
|
|
658
|
|
|
718
|
|
|
515
|
|
|
558
|
|
|||||
Earnings (loss) from discontinued operations, net of tax
|
1
|
|
|
(7
|
)
|
|
(11
|
)
|
|
3
|
|
|
(77
|
)
|
|||||
Net earnings
|
590
|
|
|
651
|
|
|
707
|
|
|
518
|
|
|
481
|
|
|||||
Net (earnings) loss attributable to noncontrolling interest
|
(22
|
)
|
|
(19
|
)
|
|
(28
|
)
|
|
(25
|
)
|
|
(20
|
)
|
|||||
Net earnings attributable to FIS
|
$
|
568
|
|
|
$
|
632
|
|
|
$
|
679
|
|
|
$
|
493
|
|
|
$
|
461
|
|
Net earnings per share — basic from continuing operations attributable to FIS common stockholders
|
$
|
1.74
|
|
|
$
|
2.24
|
|
|
$
|
2.42
|
|
|
$
|
1.69
|
|
|
$
|
1.84
|
|
Net earnings (loss) per share — basic from discontinued operations attributable to FIS common stockholders
|
—
|
|
|
(0.03
|
)
|
|
(0.04
|
)
|
|
0.01
|
|
|
(0.26
|
)
|
|||||
Net earnings per share — basic attributable to FIS common stockholders
|
$
|
1.74
|
|
|
$
|
2.22
|
|
|
$
|
2.38
|
|
|
$
|
1.70
|
|
|
$
|
1.58
|
|
Weighted average shares — basic
|
326
|
|
|
285
|
|
|
285
|
|
|
290
|
|
|
292
|
|
|||||
Net earnings per share — diluted from continuing operations attributable to FIS common stockholders
|
$
|
1.72
|
|
|
$
|
2.21
|
|
|
$
|
2.39
|
|
|
$
|
1.67
|
|
|
$
|
1.81
|
|
Net earnings (loss) per share — diluted from discontinued operations attributable to FIS common stockholders
|
—
|
|
|
(0.03
|
)
|
|
(0.04
|
)
|
|
0.01
|
|
|
(0.26
|
)
|
|||||
Net earnings per share — diluted attributable to FIS common stockholders
|
$
|
1.72
|
|
|
$
|
2.19
|
|
|
$
|
2.35
|
|
|
$
|
1.68
|
|
|
$
|
1.55
|
|
Weighted average shares — diluted
|
330
|
|
|
289
|
|
|
289
|
|
|
294
|
|
|
298
|
|
|||||
Amounts attributable to FIS common stockholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Earnings from continuing operations, net of tax
|
$
|
567
|
|
|
$
|
639
|
|
|
$
|
690
|
|
|
$
|
490
|
|
|
$
|
538
|
|
Earnings (loss) from discontinued operations, net of tax
|
1
|
|
|
(7
|
)
|
|
(11
|
)
|
|
3
|
|
|
(77
|
)
|
|||||
Net earnings attributable to FIS common stockholders
|
$
|
568
|
|
|
$
|
632
|
|
|
$
|
679
|
|
|
$
|
493
|
|
|
$
|
461
|
|
|
As of December 31,
|
||||||||||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2013
|
|
2012
|
||||||||||
|
(In millions, except per share data)
|
||||||||||||||||||
Balance Sheet Data
:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Cash and cash equivalents
|
$
|
683
|
|
|
$
|
682
|
|
|
$
|
493
|
|
|
$
|
548
|
|
|
$
|
518
|
|
Goodwill
|
14,178
|
|
|
14,745
|
|
|
8,878
|
|
|
8,500
|
|
|
8,382
|
|
|||||
Other intangible assets, net
|
4,664
|
|
|
5,159
|
|
|
1,268
|
|
|
1,339
|
|
|
1,576
|
|
|||||
Total assets
|
26,031
|
|
|
26,200
|
|
|
14,521
|
|
|
13,960
|
|
|
13,550
|
|
|||||
Total long-term debt
|
10,478
|
|
|
11,444
|
|
|
5,068
|
|
|
4,469
|
|
|
4,386
|
|
|||||
Total FIS stockholders’ equity
|
9,741
|
|
|
9,321
|
|
|
6,557
|
|
|
6,581
|
|
|
6,641
|
|
|||||
Noncontrolling interest
|
104
|
|
|
86
|
|
|
135
|
|
|
157
|
|
|
153
|
|
|||||
Total equity
|
9,845
|
|
|
9,407
|
|
|
6,692
|
|
|
6,737
|
|
|
6,794
|
|
|||||
Cash dividends declared per share
|
$
|
1.04
|
|
|
$
|
1.04
|
|
|
$
|
0.96
|
|
|
$
|
0.88
|
|
|
$
|
0.80
|
|
|
Quarter Ended
|
||||||||||||||
|
March 31
|
|
June 30
|
|
September 30
|
|
December 31
|
||||||||
|
(In millions, except per share data)
|
||||||||||||||
2016
|
|
|
|
|
|
|
|
|
|
|
|
||||
Processing and services revenues
|
$
|
2,181
|
|
|
$
|
2,305
|
|
|
$
|
2,309
|
|
|
$
|
2,445
|
|
Gross profit
|
628
|
|
|
705
|
|
|
782
|
|
|
892
|
|
||||
Earnings from continuing operations before income taxes
|
90
|
|
|
189
|
|
|
294
|
|
|
333
|
|
||||
Net earnings attributable to FIS common stockholders
|
55
|
|
|
121
|
|
|
185
|
|
|
207
|
|
||||
Net earnings per share — basic attributable to FIS common stockholders
|
$
|
0.17
|
|
|
$
|
0.37
|
|
|
$
|
0.57
|
|
|
$
|
0.63
|
|
Net earnings per share — diluted attributable to FIS common stockholders
|
$
|
0.17
|
|
|
$
|
0.37
|
|
|
$
|
0.56
|
|
|
$
|
0.63
|
|
2015
|
|
|
|
|
|
|
|
|
|
|
|
||||
Processing and services revenues
|
$
|
1,555
|
|
|
$
|
1,587
|
|
|
$
|
1,579
|
|
|
$
|
1,875
|
|
Gross profit
|
485
|
|
|
517
|
|
|
557
|
|
|
642
|
|
||||
Earnings from continuing operations before income taxes
|
176
|
|
|
403
|
|
|
282
|
|
|
176
|
|
||||
Net earnings attributable to FIS common stockholders
|
111
|
|
|
240
|
|
|
175
|
|
|
105
|
|
||||
Net earnings per share — basic attributable to FIS common stockholders
|
$
|
0.39
|
|
|
$
|
0.85
|
|
|
$
|
0.62
|
|
|
$
|
0.36
|
|
Net earnings per share — diluted attributable to FIS common stockholders
|
$
|
0.39
|
|
|
$
|
0.84
|
|
|
$
|
0.62
|
|
|
$
|
0.35
|
|
Item 7.
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
•
|
On November 30, 2015, we completed the SunGard acquisition for consideration of approximately 41.8 million shares of common stock of FIS and approximately $2,335 million in cash. In addition, we issued restricted stock units ("RSUs") to SunGard employees covering approximately 2.4 million shares of FIS common stock in exchange for unvested SunGard RSUs. FIS also repaid approximately $4.7 billion in aggregate principal amount of SunGard debt. We funded the cash portion of the merger consideration, the pay-off of the indebtedness of SunGard and the payment of transaction-related expenses through a combination of available cash-on-hand and proceeds from debt financings, including proceeds from an issuance in October 2015 of $4.5 billion aggregate principal amount of senior unsecured notes of FIS. SunGard's results of operations and financial position have been included in the Consolidated Financial Statements from and after the date of acquisition. See Note 3 to the Consolidated Financial Statements included in Item 8 of Part II of this Annual Report.
|
•
|
We have engaged in share repurchases in prior periods presented. There were no share repurchases in 2016. In 2015, we repurchased a total of approximately
5 million
shares for
$300 million
; in 2014, we repurchased a total of approximately
9 million
shares for
$476 million
.
|
|
2016
|
|
2015
|
|
2014
|
||||||
Processing and services revenues
|
$
|
9,241
|
|
|
$
|
6,596
|
|
|
$
|
6,413
|
|
Cost of revenues
|
6,233
|
|
|
4,395
|
|
|
4,327
|
|
|||
Gross profit
|
3,008
|
|
|
2,201
|
|
|
2,086
|
|
|||
Selling, general, and administrative expenses
|
1,710
|
|
|
1,102
|
|
|
815
|
|
|||
Operating income
|
1,298
|
|
|
1,099
|
|
|
1,271
|
|
|||
Other income (expense):
|
|
|
|
|
|
|
|
|
|||
Interest income
|
20
|
|
|
16
|
|
|
15
|
|
|||
Interest expense
|
(403
|
)
|
|
(199
|
)
|
|
(173
|
)
|
|||
Other income (expense), net
|
(9
|
)
|
|
121
|
|
|
(60
|
)
|
|||
Total other income (expense)
|
(392
|
)
|
|
(62
|
)
|
|
(218
|
)
|
|||
Earnings from continuing operations before income taxes
|
906
|
|
|
1,037
|
|
|
1,053
|
|
|||
Provision for income taxes
|
317
|
|
|
379
|
|
|
335
|
|
|||
Earnings from continuing operations, net of tax
|
589
|
|
|
658
|
|
|
718
|
|
|||
Earnings (loss) from discontinued operations, net of tax
|
1
|
|
|
(7
|
)
|
|
(11
|
)
|
|||
Net earnings
|
590
|
|
|
651
|
|
|
707
|
|
|||
Net (earnings) loss attributable to noncontrolling interest
|
(22
|
)
|
|
(19
|
)
|
|
(28
|
)
|
|||
Net earnings attributable to FIS
|
$
|
568
|
|
|
$
|
632
|
|
|
$
|
679
|
|
Net earnings per share — basic from continuing operations attributable to FIS common stockholders
|
$
|
1.74
|
|
|
$
|
2.24
|
|
|
$
|
2.42
|
|
Net earnings (loss) per share — basic from discontinued operations attributable to FIS common stockholders
|
—
|
|
|
(0.03
|
)
|
|
(0.04
|
)
|
|||
Net earnings per share — basic attributable to FIS common stockholders *
|
$
|
1.74
|
|
|
$
|
2.22
|
|
|
$
|
2.38
|
|
Weighted average shares outstanding — basic
|
326
|
|
|
285
|
|
|
285
|
|
|||
Net earnings per share — diluted from continuing operations attributable to FIS common stockholders
|
$
|
1.72
|
|
|
$
|
2.21
|
|
|
$
|
2.39
|
|
Net earnings (loss) per share — diluted from discontinued operations attributable to FIS common stockholders
|
—
|
|
|
(0.03
|
)
|
|
(0.04
|
)
|
|||
Net earnings per share — diluted attributable to FIS common stockholders *
|
$
|
1.72
|
|
|
$
|
2.19
|
|
|
$
|
2.35
|
|
Weighted average shares outstanding — diluted
|
330
|
|
|
289
|
|
|
289
|
|
|||
Amounts attributable to FIS common stockholders:
|
|
|
|
|
|
|
|
|
|||
Earnings from continuing operations, net of tax
|
$
|
567
|
|
|
$
|
639
|
|
|
$
|
690
|
|
Earnings (loss) from discontinued operations, net of tax
|
1
|
|
|
(7
|
)
|
|
(11
|
)
|
|||
Net earnings attributable to FIS
|
$
|
568
|
|
|
$
|
632
|
|
|
$
|
679
|
|
Earnings (loss), net of tax
|
2016
|
|
2015
|
|
2014
|
||||||
eCas business line
|
$
|
—
|
|
|
$
|
(4
|
)
|
|
$
|
(5
|
)
|
Participacoes operations
|
1
|
|
|
(3
|
)
|
|
(6
|
)
|
|||
Total discontinued operations
|
$
|
1
|
|
|
$
|
(7
|
)
|
|
$
|
(11
|
)
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
Processing and services revenues
|
$
|
4,566
|
|
|
$
|
3,846
|
|
|
$
|
3,679
|
|
Adjusted EBITDA
|
$
|
1,811
|
|
|
$
|
1,568
|
|
|
$
|
1,483
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
Processing and services revenues
|
$
|
4,250
|
|
|
$
|
2,360
|
|
|
$
|
2,198
|
|
Adjusted EBITDA
|
$
|
1,292
|
|
|
$
|
553
|
|
|
$
|
482
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions)
|
||||||||||
Processing and services revenues
|
$
|
425
|
|
|
$
|
390
|
|
|
$
|
536
|
|
Adjusted EBITDA
|
$
|
(158
|
)
|
|
$
|
(89
|
)
|
|
$
|
(38
|
)
|
|
|
|
|
Payments Due in
|
||||||||||||||||
|
|
|
|
Less than
|
|
1-3
|
|
3-5
|
|
More than
|
||||||||||
Type of Obligations
|
|
Total
|
|
1 Year
|
|
Years
|
|
Years
|
|
5 Years
|
||||||||||
Long-term debt (1)
|
|
$
|
10,591
|
|
|
$
|
332
|
|
|
$
|
1,573
|
|
|
$
|
2,536
|
|
|
$
|
6,150
|
|
Interest (2)
|
|
2,829
|
|
|
381
|
|
|
706
|
|
|
595
|
|
|
1,147
|
|
|||||
Operating leases
|
|
401
|
|
|
96
|
|
|
158
|
|
|
82
|
|
|
65
|
|
|||||
Data processing and maintenance
|
|
557
|
|
|
242
|
|
|
258
|
|
|
35
|
|
|
22
|
|
|||||
Other contractual obligations (3)
|
|
51
|
|
|
17
|
|
|
17
|
|
|
16
|
|
|
1
|
|
|||||
Total
|
|
$
|
14,429
|
|
|
$
|
1,068
|
|
|
$
|
2,712
|
|
|
$
|
3,264
|
|
|
$
|
7,385
|
|
(1)
|
On February 2, 2017, FIS issued a notice to redeem 100% of the outstanding aggregate principal amount of its
$700 million
5.000% Senior Notes due 2022 (the "Notes") on March 15, 2017. The Notes will be funded by borrowings under the Company’s Revolving Loan and cash proceeds from the sale of Public Sector and Education ("PS&E").
|
(2)
|
The calculations above assume that: (a) applicable margins and commitment fees remain constant; (b) all variable rate debt is priced at the one-month LIBOR rate in effect as of
December 31, 2016
; (c) no refinancing occurs at debt maturity; (d) only mandatory debt repayments are made; and (e) no new hedging transactions are effected.
|
(3)
|
Amount primarily includes the estimated payment for labor claims related to FIS' former item processing and remittance operations in Brazil (see Note 15 of the Notes to Consolidated Financial Statements), amounts due to the Brazilian venture partner, Capco contingent consideration payments (see Note 3 of the Notes to Consolidated Financial Statements) and other contractual obligations.
|
Item 7A.
|
Quantitative and Qualitative Disclosure About Market Risks
|
Effective date
|
|
Termination date
|
|
Notional amount
|
|
Bank pays
variable rate of
|
|
FIS pays
fixed rate of
|
|
|||
January 4, 2016
|
|
January 1, 2018
|
|
$
|
500
|
|
|
One Month LIBOR (1)
|
|
0.92
|
%
|
(2)
|
(1)
|
0.77%
in effect as of
December 31, 2016
.
|
(2)
|
Does not include the applicable margin and facility fees paid to lenders on the Term and Revolving Loans as described in Note 10 of the Notes to Consolidated Financial Statements.
|
Currency
|
|
2016
|
|
2015
|
|
2014
|
||||||
Pound Sterling
|
|
$
|
47
|
|
|
$
|
34
|
|
|
$
|
31
|
|
Euro
|
|
38
|
|
|
33
|
|
|
30
|
|
|||
Real
|
|
32
|
|
|
29
|
|
|
38
|
|
|||
Indian Rupee
|
|
12
|
|
|
10
|
|
|
8
|
|
|||
Total impact
|
|
$
|
129
|
|
|
$
|
106
|
|
|
$
|
107
|
|
|
Page
Number
|
|
2016
|
|
2015
|
||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
683
|
|
|
$
|
682
|
|
Settlement deposits
|
520
|
|
|
371
|
|
||
Trade receivables, net
|
1,639
|
|
|
1,731
|
|
||
Settlement receivables
|
175
|
|
|
162
|
|
||
Other receivables
|
65
|
|
|
197
|
|
||
Prepaid expenses and other current assets
|
236
|
|
|
266
|
|
||
Deferred income taxes
|
101
|
|
|
100
|
|
||
Assets held for sale
|
863
|
|
|
—
|
|
||
Total current assets
|
4,282
|
|
|
3,509
|
|
||
Property and equipment, net
|
626
|
|
|
611
|
|
||
Goodwill
|
14,178
|
|
|
14,745
|
|
||
Intangible assets, net
|
4,664
|
|
|
5,159
|
|
||
Computer software, net
|
1,608
|
|
|
1,584
|
|
||
Deferred contract costs, net
|
310
|
|
|
253
|
|
||
Other noncurrent assets
|
363
|
|
|
339
|
|
||
Total assets
|
$
|
26,031
|
|
|
$
|
26,200
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable and accrued liabilities
|
$
|
1,146
|
|
|
$
|
1,196
|
|
Settlement payables
|
714
|
|
|
538
|
|
||
Deferred revenues
|
680
|
|
|
615
|
|
||
Current portion of long-term debt
|
332
|
|
|
15
|
|
||
Liabilities held for sale
|
279
|
|
|
—
|
|
||
Total current liabilities
|
3,151
|
|
|
2,364
|
|
||
Long-term debt, excluding current portion
|
10,146
|
|
|
11,429
|
|
||
Deferred income taxes
|
2,484
|
|
|
2,658
|
|
||
Deferred revenues
|
19
|
|
|
30
|
|
||
Other long-term liabilities
|
386
|
|
|
312
|
|
||
Total liabilities
|
16,186
|
|
|
16,793
|
|
||
Equity:
|
|
|
|
||||
FIS stockholders’ equity:
|
|
|
|
||||
Preferred stock, $0.01 par value, 200 shares authorized, none issued and outstanding as of December 31, 2016 and 2015
|
—
|
|
|
—
|
|
||
Common stock, $0.01 par value, 600 shares authorized, 431 and 430 shares issued as of
December 31, 2016 and 2015, respectively
|
4
|
|
|
4
|
|
||
Additional paid in capital
|
10,380
|
|
|
10,210
|
|
||
Retained earnings
|
3,299
|
|
|
3,073
|
|
||
Accumulated other comprehensive earnings
|
(331
|
)
|
|
(279
|
)
|
||
Treasury stock, $0.01 par value, 103 and 106 shares as of December 31, 2016 and 2015, respectively, at cost
|
(3,611
|
)
|
|
(3,687
|
)
|
||
Total FIS stockholders’ equity
|
9,741
|
|
|
9,321
|
|
||
Noncontrolling interest
|
104
|
|
|
86
|
|
||
Total equity
|
9,845
|
|
|
9,407
|
|
||
Total liabilities and equity
|
$
|
26,031
|
|
|
$
|
26,200
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
|
|
|
|
|
||||||
Processing and services revenues (for related party activity, see note 17)
|
$
|
9,241
|
|
|
$
|
6,596
|
|
|
$
|
6,413
|
|
Cost of revenues (for related party activity, see note 17)
|
6,233
|
|
|
4,395
|
|
|
4,327
|
|
|||
Gross profit
|
3,008
|
|
|
2,201
|
|
|
2,086
|
|
|||
Selling, general, and administrative expenses (for related party activity, see note17)
|
1,710
|
|
|
1,102
|
|
|
815
|
|
|||
Operating income
|
1,298
|
|
|
1,099
|
|
|
1,271
|
|
|||
Other income (expense):
|
|
|
|
|
|
||||||
Interest income
|
20
|
|
|
16
|
|
|
15
|
|
|||
Interest expense
|
(403
|
)
|
|
(199
|
)
|
|
(173
|
)
|
|||
Other income (expense), net
|
(9
|
)
|
|
121
|
|
|
(60
|
)
|
|||
Total other income (expense)
|
(392
|
)
|
|
(62
|
)
|
|
(218
|
)
|
|||
Earnings from continuing operations before income taxes
|
906
|
|
|
1,037
|
|
|
1,053
|
|
|||
Provision for income taxes
|
317
|
|
|
379
|
|
|
335
|
|
|||
Earnings from continuing operations, net of tax
|
589
|
|
|
658
|
|
|
718
|
|
|||
Earnings (loss) from discontinued operations, net of tax
|
1
|
|
|
(7
|
)
|
|
(11
|
)
|
|||
Net earnings
|
590
|
|
|
651
|
|
|
707
|
|
|||
Net earnings attributable to noncontrolling interest
|
(22
|
)
|
|
(19
|
)
|
|
(28
|
)
|
|||
Net earnings attributable to FIS common stockholders
|
$
|
568
|
|
|
$
|
632
|
|
|
$
|
679
|
|
Net earnings per share — basic from continuing operations attributable to FIS common stockholders
|
$
|
1.74
|
|
|
$
|
2.24
|
|
|
$
|
2.42
|
|
Net earnings (loss) per share — basic from discontinued operations attributable to FIS common stockholders
|
—
|
|
|
(0.03
|
)
|
|
(0.04
|
)
|
|||
Net earnings per share — basic attributable to FIS common stockholders *
|
$
|
1.74
|
|
|
$
|
2.22
|
|
|
$
|
2.38
|
|
Weighted average shares outstanding — basic
|
326
|
|
|
285
|
|
|
285
|
|
|||
Net earnings per share — diluted from continuing operations attributable to FIS common stockholders
|
$
|
1.72
|
|
|
$
|
2.21
|
|
|
$
|
2.39
|
|
Net earnings (loss) per share — diluted from discontinued operations attributable to FIS common stockholders
|
—
|
|
|
(0.03
|
)
|
|
(0.04
|
)
|
|||
Net earnings per share — diluted attributable to FIS common stockholders *
|
$
|
1.72
|
|
|
$
|
2.19
|
|
|
$
|
2.35
|
|
Weighted average shares outstanding — diluted
|
330
|
|
|
289
|
|
|
289
|
|
|||
Amounts attributable to FIS common stockholders:
|
|
|
|
|
|
||||||
Earnings from continuing operations, net of tax
|
$
|
567
|
|
|
$
|
639
|
|
|
$
|
690
|
|
Earnings (loss) from discontinued operations, net of tax
|
1
|
|
|
(7
|
)
|
|
(11
|
)
|
|||
Net earnings attributable to FIS common stockholders
|
$
|
568
|
|
|
$
|
632
|
|
|
$
|
679
|
|
|
2016
|
|
2015
|
|
2014
|
||||||||||||||||||
Net earnings
|
|
|
$
|
590
|
|
|
|
|
$
|
651
|
|
|
|
|
$
|
707
|
|
||||||
Other comprehensive earnings, before tax:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Unrealized gain (loss) on investments and derivatives
|
$
|
(4
|
)
|
|
|
|
$
|
(17
|
)
|
|
|
|
$
|
(3
|
)
|
|
|
||||||
Reclassification adjustment for gains (losses) included in net earnings
|
9
|
|
|
|
|
4
|
|
|
|
|
6
|
|
|
|
|||||||||
Unrealized gain (loss) on investments and derivatives, net
|
5
|
|
|
|
|
(13
|
)
|
|
|
|
3
|
|
|
|
|||||||||
Foreign currency translation adjustments
|
(7
|
)
|
|
|
|
(196
|
)
|
|
|
|
(108
|
)
|
|
|
|||||||||
Minimum pension liability adjustments
|
(1
|
)
|
|
|
|
(1
|
)
|
|
|
|
(10
|
)
|
|
|
|||||||||
Other comprehensive earnings (loss), before tax
|
(3
|
)
|
|
|
|
(210
|
)
|
|
|
|
(115
|
)
|
|
|
|||||||||
Provision for income tax expense (benefit) related to items of other comprehensive earnings
|
31
|
|
|
|
|
(5
|
)
|
|
|
|
(7
|
)
|
|
|
|||||||||
Other comprehensive earnings (loss), net of tax
|
$
|
(34
|
)
|
|
(34
|
)
|
|
$
|
(205
|
)
|
|
(205
|
)
|
|
$
|
(108
|
)
|
|
(108
|
)
|
|||
Comprehensive earnings
|
|
|
556
|
|
|
|
|
446
|
|
|
|
|
599
|
|
|||||||||
Net (earnings) loss attributable to noncontrolling interest
|
|
|
(22
|
)
|
|
|
|
(19
|
)
|
|
|
|
(28
|
)
|
|||||||||
Other comprehensive (earnings) losses attributable to noncontrolling interest
|
|
|
(19
|
)
|
|
|
|
32
|
|
|
|
|
11
|
|
|||||||||
Comprehensive earnings attributable to FIS common stockholders
|
|
|
$
|
515
|
|
|
|
|
$
|
459
|
|
|
|
|
$
|
582
|
|
FIDELITY NATIONAL INFORMATION SERVICES, INC.
AND SUBSIDIARIES
Consolidated Statements of Equity
Years ended December 31, 2016, 2015 and 2014
(In millions, except per share amounts)
|
|||||||||||||||||||||||||||||||||
|
|
|
|
|
Amount
|
||||||||||||||||||||||||||||
|
|
|
|
|
FIS Stockholders
|
|
|
|
|
||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
Accumulated
|
|
|
|
|
|
|
||||||||||||||||
|
Number of shares
|
|
|
|
Additional
|
|
|
|
other
|
|
|
|
|
|
|
||||||||||||||||||
|
Common
|
|
Treasury
|
|
Common
|
|
paid in
|
|
Retained
|
|
comprehensive
|
|
Treasury
|
|
Noncontrolling
|
|
Total
|
||||||||||||||||
|
shares
|
|
shares
|
|
stock
|
|
capital
|
|
earnings
|
|
earnings
|
|
stock
|
|
interest
|
|
equity
|
||||||||||||||||
Balances, December 31, 2013
|
387
|
|
|
(96
|
)
|
|
$
|
4
|
|
|
$
|
7,248
|
|
|
$
|
2,342
|
|
|
$
|
(10
|
)
|
|
$
|
(3,003
|
)
|
|
$
|
157
|
|
|
$
|
6,738
|
|
Issuance of restricted stock
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Exercise of stock options and stock purchase rights
|
—
|
|
|
3
|
|
|
—
|
|
|
(17
|
)
|
|
—
|
|
|
—
|
|
|
78
|
|
|
—
|
|
|
61
|
|
|||||||
Treasury shares held for taxes due upon exercise of stock options
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(28
|
)
|
|
—
|
|
|
(28
|
)
|
|||||||
Excess income tax benefit from exercise of stock options
|
—
|
|
|
—
|
|
|
—
|
|
|
40
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
40
|
|
|||||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
—
|
|
|
56
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
56
|
|
|||||||
Cash dividends declared ($0.96 per share) and other distributions
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(274
|
)
|
|
—
|
|
|
—
|
|
|
(39
|
)
|
|
(313
|
)
|
|||||||
Purchases of treasury stock
|
—
|
|
|
(9
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(476
|
)
|
|
—
|
|
|
(476
|
)
|
|||||||
Other
|
—
|
|
|
—
|
|
|
—
|
|
|
10
|
|
|
—
|
|
|
—
|
|
|
5
|
|
|
—
|
|
|
15
|
|
|||||||
Net earnings
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
679
|
|
|
—
|
|
|
—
|
|
|
28
|
|
|
707
|
|
|||||||
Other comprehensive earnings, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(97
|
)
|
|
—
|
|
|
(11
|
)
|
|
(108
|
)
|
|||||||
Balances, December 31, 2014
|
388
|
|
|
(103
|
)
|
|
$
|
4
|
|
|
$
|
7,337
|
|
|
$
|
2,747
|
|
|
$
|
(107
|
)
|
|
$
|
(3,424
|
)
|
|
$
|
135
|
|
|
$
|
6,692
|
|
Issuance of restricted stock
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Exercise of stock options
|
—
|
|
|
2
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
56
|
|
|
—
|
|
|
57
|
|
|||||||
Treasury shares held for taxes due upon exercise of stock options
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(20
|
)
|
|
—
|
|
|
(20
|
)
|
|||||||
Excess income tax benefit from exercise of stock options
|
—
|
|
|
—
|
|
|
—
|
|
|
29
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
29
|
|
|||||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
—
|
|
|
98
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
98
|
|
|||||||
Cash dividends declared ($1.04 per share) and other distributions
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(306
|
)
|
|
—
|
|
|
—
|
|
|
(27
|
)
|
|
(333
|
)
|
|||||||
Purchases of treasury stock
|
—
|
|
|
(5
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(300
|
)
|
|
—
|
|
|
(300
|
)
|
|||||||
SunGard acquisition
|
42
|
|
|
—
|
|
|
—
|
|
|
2,744
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4
|
|
|
2,748
|
|
|||||||
Other
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
(13
|
)
|
|
(11
|
)
|
|||||||
Net earnings
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
632
|
|
|
—
|
|
|
—
|
|
|
19
|
|
|
651
|
|
|||||||
Other comprehensive earnings, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(172
|
)
|
|
—
|
|
|
(32
|
)
|
|
(204
|
)
|
|||||||
Balances, December 31, 2015
|
430
|
|
|
(106
|
)
|
|
$
|
4
|
|
|
$
|
10,210
|
|
|
$
|
3,073
|
|
|
$
|
(279
|
)
|
|
$
|
(3,687
|
)
|
|
$
|
86
|
|
|
$
|
9,407
|
|
Issuance of restricted stock
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Exercise of stock options
|
—
|
|
|
3
|
|
|
—
|
|
|
21
|
|
|
—
|
|
|
—
|
|
|
88
|
|
|
—
|
|
|
109
|
|
|||||||
Treasury shares held for taxes due upon exercise of stock options
|
—
|
|
|
—
|
|
|
—
|
|
|
(24
|
)
|
|
—
|
|
|
—
|
|
|
(16
|
)
|
|
—
|
|
|
(40
|
)
|
|||||||
Excess income tax benefit from exercise of stock options
|
—
|
|
|
—
|
|
|
—
|
|
|
32
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
32
|
|
|||||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
—
|
|
|
137
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
137
|
|
|||||||
Cash dividends declared ($1.04 per share) and other distributions
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(342
|
)
|
|
—
|
|
|
—
|
|
|
(23
|
)
|
|
(365
|
)
|
|||||||
Other
|
—
|
|
|
—
|
|
|
—
|
|
|
4
|
|
|
—
|
|
|
—
|
|
|
4
|
|
|
—
|
|
|
8
|
|
|||||||
Net earnings
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
568
|
|
|
—
|
|
|
—
|
|
|
22
|
|
|
590
|
|
|||||||
Other comprehensive earnings, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(52
|
)
|
|
—
|
|
|
19
|
|
|
(33
|
)
|
|||||||
Balances, December 31, 2016
|
431
|
|
|
(103
|
)
|
|
$
|
4
|
|
|
$
|
10,380
|
|
|
$
|
3,299
|
|
|
$
|
(331
|
)
|
|
$
|
(3,611
|
)
|
|
$
|
104
|
|
|
$
|
9,845
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
Cash flows from operating activities:
|
|
|
|
|
|
||||||
Net earnings
|
$
|
590
|
|
|
$
|
651
|
|
|
$
|
707
|
|
Adjustment to reconcile net earnings to net cash provided by operating activities:
|
|
|
|
|
|
||||||
Depreciation and amortization
|
1,174
|
|
|
669
|
|
|
626
|
|
|||
Amortization of debt issue costs
|
19
|
|
|
11
|
|
|
20
|
|
|||
Gain on sale of assets
|
—
|
|
|
(149
|
)
|
|
—
|
|
|||
Stock-based compensation
|
137
|
|
|
98
|
|
|
56
|
|
|||
Deferred income taxes
|
(164
|
)
|
|
48
|
|
|
(6
|
)
|
|||
Excess income tax benefit from exercise of stock options
|
(32
|
)
|
|
(29
|
)
|
|
(40
|
)
|
|||
Other operating activities, net
|
(2
|
)
|
|
4
|
|
|
21
|
|
|||
Net changes in assets and liabilities, net of effects from acquisitions and foreign currency:
|
|
|
|
|
|
||||||
Trade receivables
|
57
|
|
|
(103
|
)
|
|
(115
|
)
|
|||
Settlement activity
|
15
|
|
|
5
|
|
|
(6
|
)
|
|||
Prepaid expenses and other assets
|
(8
|
)
|
|
(46
|
)
|
|
(34
|
)
|
|||
Deferred contract costs
|
(138
|
)
|
|
(120
|
)
|
|
(87
|
)
|
|||
Deferred revenue
|
182
|
|
|
63
|
|
|
33
|
|
|||
Accounts payable, accrued liabilities, and other liabilities
|
95
|
|
|
29
|
|
|
(10
|
)
|
|||
Net cash provided by operating activities
|
1,925
|
|
|
1,131
|
|
|
1,165
|
|
|||
|
|
|
|
|
|
||||||
Cash flows from investing activities:
|
|
|
|
|
|
||||||
Additions to property and equipment
|
(145
|
)
|
|
(133
|
)
|
|
(149
|
)
|
|||
Additions to computer software
|
(471
|
)
|
|
(282
|
)
|
|
(223
|
)
|
|||
Acquisitions, net of cash acquired
|
—
|
|
|
(1,720
|
)
|
|
(595
|
)
|
|||
Net proceeds from sale of assets
|
—
|
|
|
241
|
|
|
—
|
|
|||
Other investing activities, net
|
(3
|
)
|
|
(4
|
)
|
|
(18
|
)
|
|||
Net cash used in investing activities
|
(619
|
)
|
|
(1,898
|
)
|
|
(985
|
)
|
|||
|
|
|
|
|
|
||||||
Cash flows from financing activities:
|
|
|
|
|
|
||||||
Borrowings
|
7,745
|
|
|
13,216
|
|
|
7,936
|
|
|||
Repayment of borrowings and capital lease obligations
|
(8,749
|
)
|
|
(11,561
|
)
|
|
(7,364
|
)
|
|||
Debt issuance costs
|
(25
|
)
|
|
(37
|
)
|
|
(14
|
)
|
|||
Excess income tax benefit from exercise of stock options
|
32
|
|
|
29
|
|
|
40
|
|
|||
Proceeds from exercise of stock options
|
112
|
|
|
57
|
|
|
61
|
|
|||
Treasury stock activity
|
(40
|
)
|
|
(320
|
)
|
|
(522
|
)
|
|||
Dividends paid
|
(341
|
)
|
|
(305
|
)
|
|
(275
|
)
|
|||
Distributions to Brazilian Venture partner
|
(20
|
)
|
|
(24
|
)
|
|
(35
|
)
|
|||
Other financing activities, net
|
(23
|
)
|
|
(40
|
)
|
|
(25
|
)
|
|||
Net cash (used in) provided by financing activities
|
(1,309
|
)
|
|
1,015
|
|
|
(198
|
)
|
|||
Effect of foreign currency exchange rate changes on cash
|
4
|
|
|
(59
|
)
|
|
(37
|
)
|
|||
Net increase (decrease) in cash and cash equivalents
|
1
|
|
|
189
|
|
|
(55
|
)
|
|||
Cash and cash equivalents, beginning of year
|
682
|
|
|
493
|
|
|
548
|
|
|||
Cash and cash equivalents, end of year
|
$
|
683
|
|
|
$
|
682
|
|
|
$
|
493
|
|
|
|
|
|
|
|
||||||
Supplemental cash flow information:
|
|
|
|
|
|
||||||
Cash paid for interest
|
$
|
351
|
|
|
$
|
142
|
|
|
$
|
169
|
|
Cash paid for income taxes
|
$
|
341
|
|
|
$
|
355
|
|
|
$
|
292
|
|
•
|
Inputs that are derived principally from or corroborated by observable market data by correlation or other means.
|
|
2016
|
|
2015
|
||||
Trade receivables — billed
|
$
|
1,452
|
|
|
$
|
1,546
|
|
Trade receivables — unbilled
|
228
|
|
|
201
|
|
||
Total trade receivables
|
1,680
|
|
|
1,747
|
|
||
Allowance for doubtful accounts
|
(41
|
)
|
|
(16
|
)
|
||
Total trade receivables, net
|
$
|
1,639
|
|
|
$
|
1,731
|
|
Allowance for doubtful accounts as of December 31, 2013
|
$
|
(16
|
)
|
Bad debt expense
|
(9
|
)
|
|
Write-offs, net of recoveries
|
9
|
|
|
Allowance for doubtful accounts as of December 31, 2014
|
(16
|
)
|
|
Bad debt expense
|
(10
|
)
|
|
Write-offs, net of recoveries
|
10
|
|
|
Allowance for doubtful accounts as of December 31, 2015
|
(16
|
)
|
|
Bad debt expense
|
(29
|
)
|
|
Write-offs, net of recoveries
|
4
|
|
|
Allowance for doubtful accounts as of December 31, 2016
|
$
|
(41
|
)
|
|
Year ended December 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
Earnings from continuing operations attributable to FIS, net of tax
|
$
|
567
|
|
|
$
|
639
|
|
|
$
|
690
|
|
Earnings (loss) from discontinued operations attributable to FIS, net of tax
|
1
|
|
|
(7
|
)
|
|
(11
|
)
|
|||
Net earnings attributable to FIS common stockholders
|
$
|
568
|
|
|
$
|
632
|
|
|
$
|
679
|
|
Weighted average shares outstanding — basic
|
326
|
|
|
285
|
|
|
285
|
|
|||
Plus: Common stock equivalent shares
|
4
|
|
|
4
|
|
|
4
|
|
|||
Weighted average shares outstanding — diluted
|
330
|
|
|
289
|
|
|
289
|
|
|||
Net earnings per share — basic from continuing operations attributable to FIS common stockholders
|
$
|
1.74
|
|
|
$
|
2.24
|
|
|
$
|
2.42
|
|
Net earnings (loss) per share — basic from discontinued operations attributable to FIS common stockholders
|
—
|
|
|
(0.03
|
)
|
|
(0.04
|
)
|
|||
Net earnings per share — basic attributable to FIS common stockholders *
|
$
|
1.74
|
|
|
$
|
2.22
|
|
|
$
|
2.38
|
|
Net earnings per share — diluted from continuing operations attributable to FIS common stockholders
|
$
|
1.72
|
|
|
$
|
2.21
|
|
|
$
|
2.39
|
|
Net earnings (loss) per share — diluted from discontinued operations attributable to FIS common stockholders
|
—
|
|
|
(0.03
|
)
|
|
(0.04
|
)
|
|||
Net earnings per share — diluted attributable to FIS common stockholders *
|
$
|
1.72
|
|
|
$
|
2.19
|
|
|
$
|
2.35
|
|
|
|
|
|
|
|
||||||
* amounts may not sum due to rounding.
|
|
|
|
|
|
Cash consideration, including SunGard transaction fees paid at closing
|
$
|
2,335
|
|
Value of stock and vested equity awards exchanged for FIS shares
|
2,697
|
|
|
Value of vested portion of SunGard stock awards exchanged for FIS awards
|
47
|
|
|
|
$
|
5,079
|
|
Cash
|
$
|
631
|
|
Trade receivables
|
526
|
|
|
Other receivables
|
57
|
|
|
Property and equipment
|
145
|
|
|
Computer software
|
674
|
|
|
Intangible assets
|
4,560
|
|
|
Other assets
|
67
|
|
|
Goodwill
|
5,800
|
|
|
Liabilities assumed and noncontrolling interest
|
(7,381
|
)
|
|
|
$
|
5,079
|
|
Long-term debt (subsequently retired)
|
$
|
4,738
|
|
Deferred income taxes
|
1,772
|
|
|
Deferred revenue
|
278
|
|
|
Other liabilities and noncontrolling interest
|
593
|
|
|
|
$
|
7,381
|
|
|
2015
|
|
2014
|
||||
Total processing and services revenues
|
$
|
9,139
|
|
|
$
|
8,986
|
|
Net earnings (loss) from continuing operations attributable to FIS common stockholders
|
$
|
389
|
|
|
$
|
(35
|
)
|
Pro forma earnings (loss) per share - basic from continuing operations attributable to FIS common stockholders
|
$
|
1.19
|
|
|
$
|
(0.11
|
)
|
Pro forma earnings (loss) per share - diluted from continuing operations attributable to FIS common stockholders
|
$
|
1.17
|
|
|
$
|
(0.11
|
)
|
|
2016
|
|
2015
|
||||
Land
|
$
|
31
|
|
|
$
|
30
|
|
Buildings
|
204
|
|
|
203
|
|
||
Leasehold improvements
|
137
|
|
|
139
|
|
||
Computer equipment
|
909
|
|
|
846
|
|
||
Furniture, fixtures, and other equipment
|
207
|
|
|
178
|
|
||
|
1,488
|
|
|
1,396
|
|
||
Accumulated depreciation and amortization
|
(862
|
)
|
|
(785
|
)
|
||
|
$
|
626
|
|
|
$
|
611
|
|
|
IFS
|
|
GFS
|
|
Corporate & Other
|
|
Total
|
||||||||
Balance, December 31, 2014
|
$
|
6,627
|
|
|
$
|
1,990
|
|
|
$
|
261
|
|
|
$
|
8,878
|
|
Goodwill acquired during 2015
|
1,049
|
|
|
4,653
|
|
|
301
|
|
|
6,003
|
|
||||
Goodwill distributed through sale of non-strategic assets
|
—
|
|
|
—
|
|
|
(98
|
)
|
|
(98
|
)
|
||||
Purchase price and foreign currency adjustments
|
—
|
|
|
(38
|
)
|
|
—
|
|
|
(38
|
)
|
||||
Balance, December 31, 2015
|
7,676
|
|
|
6,605
|
|
|
464
|
|
|
14,745
|
|
||||
Purchase price and foreign currency adjustments
|
—
|
|
|
(273
|
)
|
|
65
|
|
|
(208
|
)
|
||||
Goodwill relating to PS&E included in assets held for sale
|
—
|
|
|
—
|
|
|
(359
|
)
|
|
(359
|
)
|
||||
Balance, December 31, 2016
|
$
|
7,676
|
|
|
$
|
6,332
|
|
|
$
|
170
|
|
|
$
|
14,178
|
|
|
Cost
|
|
Accumulated
Amortization
|
|
Net
|
||||||
Customer relationships
|
$
|
6,367
|
|
|
$
|
(1,840
|
)
|
|
$
|
4,527
|
|
Trademarks
|
180
|
|
|
(43
|
)
|
|
137
|
|
|||
|
$
|
6,547
|
|
|
$
|
(1,883
|
)
|
|
$
|
4,664
|
|
|
Cost
|
|
Accumulated
Amortization
|
|
Net
|
||||||
Customer relationships
|
$
|
6,782
|
|
|
$
|
(1,782
|
)
|
|
$
|
5,000
|
|
Trademarks
|
181
|
|
|
(22
|
)
|
|
159
|
|
|||
|
$
|
6,963
|
|
|
$
|
(1,804
|
)
|
|
$
|
5,159
|
|
2017
|
$
|
681
|
|
2018
|
678
|
|
|
2019
|
667
|
|
|
2020
|
489
|
|
|
2021
|
453
|
|
|
2016
|
|
2015
|
||||
Software from business acquisitions
|
$
|
1,138
|
|
|
$
|
1,189
|
|
Capitalized software development costs
|
1,066
|
|
|
985
|
|
||
Purchased software
|
172
|
|
|
126
|
|
||
Computer software
|
2,376
|
|
|
2,300
|
|
||
Accumulated amortization
|
(768
|
)
|
|
(716
|
)
|
||
Computer software, net of accumulated amortization
|
$
|
1,608
|
|
|
$
|
1,584
|
|
|
2016
|
|
2015
|
||||
Installations and conversions in progress
|
$
|
57
|
|
|
$
|
34
|
|
Installations and conversions completed, net
|
108
|
|
|
93
|
|
||
Sales commissions and other, net
|
145
|
|
|
126
|
|
||
Deferred contract costs, net
|
$
|
310
|
|
|
$
|
253
|
|
|
2016
|
|
2015
|
||||
Salaries and incentives
|
$
|
379
|
|
|
$
|
325
|
|
Accrued benefits and payroll taxes
|
98
|
|
|
114
|
|
||
Trade accounts payable and other accrued liabilities
|
512
|
|
|
564
|
|
||
Accrued interest payable
|
89
|
|
|
62
|
|
||
Taxes other than income tax
|
62
|
|
|
65
|
|
||
Capco acquisition related liabilities
|
6
|
|
|
66
|
|
||
Total accounts payable and accrued liabilities
|
$
|
1,146
|
|
|
$
|
1,196
|
|
|
2016
|
|
2015
|
||||
2017 Term Loans (1)
|
$
|
—
|
|
|
$
|
1,300
|
|
2018 Term Loans (2)
|
550
|
|
|
1,500
|
|
||
Senior Notes due June 2017, interest payable semi-annually at 1.450%
|
300
|
|
|
300
|
|
||
Senior Notes due April 2018, interest payable semi-annually at 2.000%
|
250
|
|
|
250
|
|
||
Senior Notes due October 2018, interest payable semi-annually at 2.850%
|
750
|
|
|
750
|
|
||
Senior Notes due October 2020, interest payable semi-annually at 3.625%
|
1,750
|
|
|
1,750
|
|
||
Senior Notes due August 2021, interest payable semi-annually at 2.250%
|
750
|
|
|
—
|
|
||
Senior Notes due March 2022, interest payable semi-annually at 5.000%
|
700
|
|
|
700
|
|
||
Senior Notes due October 2022, interest payable semi-annually at 4.500%
|
500
|
|
|
500
|
|
||
Senior Notes due April 2023, interest payable semi-annually at 3.500%
|
1,000
|
|
|
1,000
|
|
||
Senior Notes due June 2024, interest payable semi-annually at 3.875%
|
700
|
|
|
700
|
|
||
Senior Notes due October 2025, interest payable semi-annually at 5.000%
|
1,500
|
|
|
1,500
|
|
||
Senior Notes due August 2026, interest payable semi-annually at 3.000%
|
1,250
|
|
|
—
|
|
||
Senior Notes due August 2046, interest payable semi-annually at 4.500%
|
500
|
|
|
—
|
|
||
Revolving Loan, (3)
|
36
|
|
|
1,250
|
|
||
Other
|
(58
|
)
|
|
(56
|
)
|
||
|
10,478
|
|
|
11,444
|
|
||
Current portion
|
(332
|
)
|
|
(15
|
)
|
||
Long-term debt, excluding current portion
|
$
|
10,146
|
|
|
$
|
11,429
|
|
(1)
|
Interest on the 2017 Term Loans was generally payable at LIBOR plus an applicable margin of up to
1.75%
based upon the Company's corporate credit ratings.
|
(2)
|
Interest on the 2018 Term Loans is generally payable at LIBOR plus an applicable margin of up to
1.75%
based upon the Company's corporate credit ratings. As of
December 31, 2016
, the weighted average interest rate on the 2018 Term Loans was
1.87%
.
|
(3)
|
Interest on the Revolving Loan is generally payable at LIBOR plus an applicable margin of up to
1.75%
plus an unused commitment fee of up to
0.25%
, each based upon the Company's corporate credit ratings. As of
December 31, 2016
, the weighted average interest rate on the Revolving Loan, excluding fees, was
1.75%
.
|
|
|
Total
|
||
2017
|
|
$
|
332
|
|
2018
|
|
1,564
|
|
|
2019
|
|
9
|
|
|
2020
|
|
1,750
|
|
|
2021
|
|
786
|
|
|
Thereafter
|
|
6,150
|
|
|
Total principal payments
|
|
10,591
|
|
|
Debt issuance costs, net of accumulated amortization
|
|
(77
|
)
|
|
Total long-term debt
|
|
10,514
|
|
Effective date
|
|
Termination date
|
|
Notional amount
|
|
Bank pays
variable rate of
|
|
FIS pays
fixed rate of
|
|
|||
January 4, 2016
|
|
January 1, 2018
|
|
$
|
500
|
|
|
One Month LIBOR (1)
|
|
0.92
|
%
|
(2)
|
(1)
|
0.77%
in effect as of
December 31, 2016
.
|
(2)
|
Does not include the applicable margin and facility fees paid to lenders on Term and Revolving Loans as described above.
|
|
December 31, 2016
|
|
December 31, 2015
|
||||||||
|
Balance sheet location
|
|
Fair
value
|
|
Balance sheet location
|
|
Fair
value
|
||||
Interest rate swap contracts
|
Other noncurrent assets
|
|
$
|
—
|
|
|
Other noncurrent assets
|
|
$
|
1
|
|
Interest rate swap contracts
|
Accounts payable and accrued liabilities
|
|
—
|
|
|
Accounts payable and accrued liabilities
|
|
—
|
|
||
Interest rate swap contracts
|
Other long-term liabilities
|
|
—
|
|
|
Other long-term liabilities
|
|
1
|
|
|
|
Amount of gain (loss) recognized
in AOCE on derivatives
|
||||||||||
Derivatives in cash flow hedging relationships
|
|
2016
|
|
2015
|
|
2014
|
||||||
Interest rate derivative contracts
|
|
$
|
(7
|
)
|
|
$
|
(17
|
)
|
|
$
|
(4
|
)
|
|
|
Amount of gain (loss) reclassified
from AOCE into income
|
||||||||||
Location of gain (loss) reclassified from AOCE into income
|
|
2016
|
|
2015
|
|
2014
|
||||||
Interest expense
|
|
$
|
(9
|
)
|
|
$
|
(4
|
)
|
|
$
|
(6
|
)
|
|
2016
|
|
2015
|
|
2014
|
||||||
Current provision:
|
|
|
|
|
|
|
|
|
|||
Federal
|
$
|
308
|
|
|
$
|
248
|
|
|
$
|
248
|
|
State
|
54
|
|
|
33
|
|
|
32
|
|
|||
Foreign
|
131
|
|
|
52
|
|
|
64
|
|
|||
Total current provision
|
$
|
493
|
|
|
$
|
333
|
|
|
$
|
344
|
|
Deferred provision (benefit):
|
|
|
|
|
|
|
|
|
|||
Federal
|
$
|
(147
|
)
|
|
$
|
50
|
|
|
$
|
(4
|
)
|
State
|
(12
|
)
|
|
5
|
|
|
(2
|
)
|
|||
Foreign
|
(17
|
)
|
|
(9
|
)
|
|
(3
|
)
|
|||
Total deferred provision
|
(176
|
)
|
|
46
|
|
|
(9
|
)
|
|||
Total provision for income taxes
|
$
|
317
|
|
|
$
|
379
|
|
|
$
|
335
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
United States
|
$
|
571
|
|
|
$
|
864
|
|
|
$
|
789
|
|
Foreign
|
335
|
|
|
173
|
|
|
264
|
|
|||
Total
|
$
|
906
|
|
|
$
|
1,037
|
|
|
$
|
1,053
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
Tax expense per statements of earnings
|
$
|
317
|
|
|
$
|
379
|
|
|
$
|
335
|
|
Tax expense attributable to discontinued operations
|
1
|
|
|
(2
|
)
|
|
(3
|
)
|
|||
Unrealized (loss) gain on foreign currency translation
|
30
|
|
|
—
|
|
|
(5
|
)
|
|||
Other components of other comprehensive income
|
1
|
|
|
(5
|
)
|
|
(2
|
)
|
|||
Total income tax expense (benefit) allocated to other comprehensive income
|
31
|
|
|
(5
|
)
|
|
(7
|
)
|
|||
Tax benefit from exercise of stock options
|
(32
|
)
|
|
(29
|
)
|
|
(40
|
)
|
|||
Total income tax expense
|
$
|
317
|
|
|
$
|
343
|
|
|
$
|
285
|
|
|
2016
|
|
2015
|
|
2014
|
|||
Federal statutory income tax rate
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
State income taxes
|
3.0
|
|
|
4.6
|
|
|
4.6
|
|
Federal benefit of state taxes
|
(1.0
|
)
|
|
(1.6
|
)
|
|
(1.6
|
)
|
Foreign rate differential
|
(3.0
|
)
|
|
(2.6
|
)
|
|
(2.6
|
)
|
Other
|
1.0
|
|
|
1.1
|
|
|
(3.6
|
)
|
Effective income tax rate
|
35.0
|
%
|
|
36.5
|
%
|
|
31.8
|
%
|
|
2016
|
|
2015
|
||||
Deferred income tax assets:
|
|
|
|
|
|
||
Net operating loss carryforwards
|
$
|
223
|
|
|
$
|
228
|
|
Employee benefit accruals
|
111
|
|
|
98
|
|
||
Other deferred tax assets
|
151
|
|
|
112
|
|
||
Total gross deferred income tax assets
|
485
|
|
|
438
|
|
||
Less valuation allowance
|
(177
|
)
|
|
(167
|
)
|
||
Total deferred income tax assets
|
308
|
|
|
271
|
|
||
Deferred income tax liabilities:
|
|
|
|
|
|
||
Amortization of goodwill and intangible assets
|
2,464
|
|
|
2,606
|
|
||
Deferred contract costs
|
131
|
|
|
103
|
|
||
Other deferred tax liabilities
|
75
|
|
|
100
|
|
||
Total deferred income tax liabilities
|
2,670
|
|
|
2,809
|
|
||
Net deferred income tax liability
|
$
|
2,362
|
|
|
$
|
2,538
|
|
|
2016
|
|
2015
|
||||
Current assets
|
$
|
101
|
|
|
$
|
100
|
|
Noncurrent assets (included in other noncurrent assets)
|
25
|
|
|
22
|
|
||
Total deferred income tax assets
|
126
|
|
|
122
|
|
||
Current liabilities (included in accounts payable and accrued liabilities)
|
(4
|
)
|
|
(2
|
)
|
||
Noncurrent liabilities
|
(2,484
|
)
|
|
(2,658
|
)
|
||
Total deferred income tax liabilities
|
(2,488
|
)
|
|
(2,660
|
)
|
||
Net deferred income tax liability
|
$
|
(2,362
|
)
|
|
$
|
(2,538
|
)
|
|
Gross Amount
|
||
Amounts of unrecognized tax benefits as of January 1, 2015
|
$
|
18
|
|
Amount of decreases due to lapse of the applicable statute of limitations
|
(5
|
)
|
|
Assumed in SunGard acquisition
|
82
|
|
|
Increases as a result of tax positions taken in the current period
|
1
|
|
|
Increases as a result of tax positions taken in a prior period
|
2
|
|
|
Amount of unrecognized tax benefit as of December 31, 2015
|
98
|
|
|
Amount of decreases due to lapse of the applicable statute of limitations
|
(4
|
)
|
|
Amount of decreases due to settlements
|
(23
|
)
|
|
Increases as a result of tax positions taken in the current period
|
2
|
|
|
Increases as a result of tax positions taken in a prior period
|
14
|
|
|
Amount of unrecognized tax benefit as of December 31, 2016
|
$
|
87
|
|
•
|
These matters raise difficult and complicated factual and legal issues and are subject to many uncertainties and complexities.
|
•
|
The Company reviews all of its litigation on an on-going basis and follows the authoritative provisions for accounting for contingencies when making accrual and disclosure decisions. A liability must be accrued if (a) it is probable that a liability has been incurred and (b) the amount of loss can be reasonably estimated. If one of these criteria has not been met, disclosure is required when there is at least a reasonable possibility that a material loss may be incurred. When assessing reasonably possible and probable outcomes, the Company bases decisions on the assessment of the ultimate outcome following all appeals. Legal fees associated with defending litigation matters are expensed as incurred.
|
2017
|
$
|
96
|
|
2018
|
91
|
|
|
2019
|
67
|
|
|
2020
|
49
|
|
|
2021
|
33
|
|
|
Thereafter
|
65
|
|
|
Total
|
$
|
401
|
|
|
FIS Restated Plan
|
|
Available for grant as of December 31, 2014
|
7
|
|
Granted in 2014
|
3
|
|
Outstanding as of December 31, 2015
|
16
|
|
Available for grant as of December 31, 2015
|
26
|
|
Granted in 2016
|
5
|
|
Outstanding as of December 31, 2016
|
17
|
|
Available for grant as of December 31, 2016
|
21
|
|
|
Shares
|
|
Weighted
Average
Exercise Price
|
|||
Balance, December 31, 2013
|
14
|
|
|
$
|
32.49
|
|
Granted
|
4
|
|
|
58.72
|
|
|
Exercised
|
(3
|
)
|
|
22.69
|
|
|
Cancelled
|
—
|
|
|
46.21
|
|
|
Balance, December 31, 2014
|
15
|
|
|
41.56
|
|
|
Granted
|
3
|
|
|
65.91
|
|
|
Exercised
|
(2
|
)
|
|
29.67
|
|
|
Cancelled
|
—
|
|
|
54.08
|
|
|
Balance, December 31, 2015
|
16
|
|
|
47.19
|
|
|
Granted
|
5
|
|
|
63.58
|
|
|
Exercised
|
(3
|
)
|
|
36.15
|
|
|
Cancelled
|
(1
|
)
|
|
62.25
|
|
|
Balance, December 31, 2016
|
17
|
|
|
53.21
|
|
|
Outstanding Options
|
|
Exercisable Options
|
||||||||||||||||||||||
Range of Exercise Price
|
Number
of
Options
|
|
Weighted
Average
Remaining
Contractual
Life
|
|
Weighted
Average
Exercise
Price
|
|
Intrinsic
Value as of
December 31,
2016 (a)
|
|
Number of Options
|
|
Weighted
Average
Remaining
Contractual
Life
|
|
Weighted
Average
Exercise
Price
|
|
Intrinsic
Value as of
December 31,
2016 (a)
|
||||||||||
|
(In millions)
|
|
|
|
|
|
(In millions)
|
|
(In millions)
|
|
|
|
|
|
(In millions)
|
||||||||||
$ 0.00 - $ 25.66
|
1
|
|
|
1.80
|
|
$
|
24.71
|
|
|
$
|
73
|
|
|
1
|
|
|
1.80
|
|
$
|
24.71
|
|
|
$
|
73
|
|
$ 25.67 - $ 27.40
|
1
|
|
|
0.82
|
|
27.11
|
|
|
58
|
|
|
1
|
|
|
0.82
|
|
27.11
|
|
|
58
|
|
||||
$ 27.41 - $ 48.75
|
4
|
|
|
3.40
|
|
45.21
|
|
|
108
|
|
|
4
|
|
|
3.40
|
|
45.21
|
|
|
108
|
|
||||
$ 48.76 - $ 59.91
|
3
|
|
|
4.68
|
|
58.19
|
|
|
53
|
|
|
2
|
|
|
4.40
|
|
58.15
|
|
|
20
|
|
||||
$ 59.92 - $ 62.92
|
4
|
|
|
6.10
|
|
62.92
|
|
|
51
|
|
|
—
|
|
|
3.00
|
|
62.92
|
|
|
2
|
|
||||
$ 62.93 - $ 79.41
|
4
|
|
|
5.58
|
|
66.17
|
|
|
34
|
|
|
—
|
|
|
3.93
|
|
64.82
|
|
|
4
|
|
||||
$ 0.00 - $ 79.41
|
17
|
|
|
4.42
|
|
53.21
|
|
|
$
|
377
|
|
|
8
|
|
|
2.86
|
|
41.74
|
|
|
$
|
265
|
|
(a)
|
Intrinsic value is based on a closing stock price as of
December 31, 2016
of
$75.64
.
|
|
2016
|
|
2015
|
|
2014
|
|||
Risk free interest rate
|
1.2
|
%
|
|
1.4
|
%
|
|
1.4
|
%
|
Volatility
|
20.4
|
%
|
|
21.7
|
%
|
|
21.2
|
%
|
Dividend yield
|
1.6
|
%
|
|
1.6
|
%
|
|
1.6
|
%
|
Weighted average expected life (years)
|
4.2
|
|
|
4.2
|
|
|
4.2
|
|
Revenues
|
2016
|
|
2015
|
|
2014
|
|||||||
|
eCas business line
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
3
|
|
Earnings (loss) from discontinued operations net of tax:
|
2016
|
|
2015
|
|
2014
|
|||||||
|
eCas business line
|
$
|
—
|
|
|
$
|
(4
|
)
|
|
$
|
(5
|
)
|
|
Participacoes operations
|
1
|
|
|
(3
|
)
|
|
(6
|
)
|
|||
|
Total discontinued operations
|
$
|
1
|
|
|
$
|
(7
|
)
|
|
$
|
(11
|
)
|
|
|
|
|
Foreign
|
|
|
|
|
||||||||
|
|
Interest Rate
|
|
Currency
|
|
|
|
|
||||||||
|
|
Swap
|
|
Translation
|
|
|
|
|
||||||||
|
|
Contracts
|
|
Adjustments
|
|
Other (1)
|
|
Total
|
||||||||
Balances, December 31, 2015
|
|
$
|
1
|
|
|
$
|
(259
|
)
|
|
$
|
(21
|
)
|
|
$
|
(279
|
)
|
Other comprehensive gain/(loss) before reclassifications
|
|
(5
|
)
|
|
(55
|
)
|
|
3
|
|
|
(57
|
)
|
||||
Amounts reclassified from AOCE
|
|
5
|
|
|
—
|
|
|
—
|
|
|
5
|
|
||||
Net current period AOCE attributable to FIS
|
|
—
|
|
|
(55
|
)
|
|
3
|
|
|
(52
|
)
|
||||
Balances, December 31, 2016
|
|
$
|
1
|
|
|
$
|
(314
|
)
|
|
$
|
(18
|
)
|
|
$
|
(331
|
)
|
(1)
|
Includes the cash settlement payment on treasury lock contracts associated with bridge financing for the SunGard acquisition. This amount will be amortized as an adjustment to interest expense over the
ten
years in which the related interest payments that were hedged are recognized in income.
|
|
|
|
|
December 31,
|
||||||
Related Party
|
|
Balance sheet location
|
|
2016
|
|
2015
|
||||
Banco Bradesco
|
|
Trade receivables
|
|
$
|
45
|
|
|
$
|
31
|
|
Banco Bradesco
|
|
Accounts payable and accrued liabilities
|
|
10
|
|
|
9
|
|
||
Banco Bradesco
|
|
Other long-term liabilities
|
|
22
|
|
|
24
|
|
|
IFS
|
|
GFS
|
|
Corporate
and Other
|
|
Total
|
||||||||
Processing and services revenues
|
$
|
4,566
|
|
|
$
|
4,250
|
|
|
$
|
425
|
|
|
$
|
9,241
|
|
Operating expenses
|
3,029
|
|
|
3,211
|
|
|
1,703
|
|
|
7,943
|
|
||||
Depreciation and amortization from continuing operations
|
273
|
|
|
247
|
|
|
64
|
|
|
584
|
|
||||
Purchase accounting amortization
|
1
|
|
|
6
|
|
|
583
|
|
|
590
|
|
||||
EBITDA
|
1,811
|
|
|
1,292
|
|
|
(631
|
)
|
|
2,472
|
|
||||
Acquisition deferred revenue adjustment
|
—
|
|
|
—
|
|
|
192
|
|
|
192
|
|
||||
Acquisition, integration and severance costs
|
—
|
|
|
—
|
|
|
281
|
|
|
281
|
|
||||
Adjusted EBITDA
|
$
|
1,811
|
|
|
$
|
1,292
|
|
|
$
|
(158
|
)
|
|
$
|
2,945
|
|
|
|
|
|
|
|
|
|
||||||||
EBITDA
|
|
|
|
|
|
|
$
|
2,472
|
|
||||||
Interest expense
|
|
|
|
|
|
|
383
|
|
|||||||
Depreciation and amortization from continuing operations
|
|
|
|
|
|
|
584
|
|
|||||||
Purchase accounting amortization
|
|
|
|
|
|
|
590
|
|
|||||||
Other income (expense) unallocated
|
|
|
|
|
|
|
(9
|
)
|
|||||||
Provision for income taxes
|
|
|
|
|
|
|
317
|
|
|||||||
Net earnings (loss) from discontinued operations
|
|
|
|
|
|
|
1
|
|
|||||||
Net earnings attributable to noncontrolling interest
|
|
|
|
|
|
|
22
|
|
|||||||
Net earnings attributable to FIS common stockholders
|
|
|
|
|
|
|
$
|
568
|
|
||||||
Capital expenditures (1)
|
$
|
294
|
|
|
$
|
317
|
|
|
$
|
48
|
|
|
$
|
659
|
|
Total assets
|
$
|
10,249
|
|
|
$
|
9,028
|
|
|
$
|
6,748
|
|
|
$
|
26,025
|
|
Goodwill
|
$
|
7,676
|
|
|
$
|
6,332
|
|
|
$
|
170
|
|
|
$
|
14,178
|
|
|
IFS
|
|
GFS
|
|
Corporate
and Other
|
|
Total
|
||||||||
Processing and services revenues
|
$
|
3,846
|
|
|
$
|
2,360
|
|
|
$
|
390
|
|
|
$
|
6,596
|
|
Operating expenses
|
2,504
|
|
|
1,953
|
|
|
1,040
|
|
|
5,497
|
|
||||
Depreciation and amortization from continuing operations
|
226
|
|
|
146
|
|
|
59
|
|
|
431
|
|
||||
Purchase accounting amortization
|
—
|
|
|
—
|
|
|
238
|
|
|
238
|
|
||||
EBITDA
|
1,568
|
|
|
553
|
|
|
(353
|
)
|
|
1,768
|
|
||||
Acquisition deferred revenue adjustment
|
—
|
|
|
—
|
|
|
48
|
|
|
48
|
|
||||
Acquisition, integration and severance costs
|
—
|
|
|
—
|
|
|
171
|
|
|
171
|
|
||||
Global restructure
|
—
|
|
|
—
|
|
|
45
|
|
|
45
|
|
||||
Adjusted EBITDA
|
$
|
1,568
|
|
|
$
|
553
|
|
|
$
|
(89
|
)
|
|
$
|
2,032
|
|
|
|
|
|
|
|
|
|
||||||||
EBITDA
|
|
|
|
|
|
|
$
|
1,768
|
|
||||||
Interest expense
|
|
|
|
|
|
|
183
|
|
|||||||
Depreciation and amortization from continuing operations
|
|
|
|
|
|
|
431
|
|
|||||||
Purchase accounting amortization
|
|
|
|
|
|
|
|
|
|
238
|
|
||||
Other income (expense) unallocated
|
|
|
|
|
|
|
121
|
|
|||||||
Provision for income taxes
|
|
|
|
|
|
|
379
|
|
|||||||
Net earnings (loss) from discontinued operations
|
|
|
|
|
|
|
(7
|
)
|
|||||||
Net earnings attributable to noncontrolling interest
|
|
|
|
|
|
|
19
|
|
|||||||
Net earnings attributable to FIS common stockholders
|
|
|
|
|
|
|
$
|
632
|
|
||||||
Capital expenditures (1)
|
$
|
235
|
|
|
$
|
168
|
|
|
$
|
21
|
|
|
$
|
424
|
|
Total assets
|
$
|
10,035
|
|
|
$
|
9,508
|
|
|
$
|
6,656
|
|
|
$
|
26,199
|
|
Goodwill
|
$
|
7,676
|
|
|
$
|
6,605
|
|
|
$
|
464
|
|
|
$
|
14,745
|
|
|
IFS
|
|
GFS
|
|
Corporate
and Other
|
|
Total
|
||||||||
Processing and services revenues
|
$
|
3,679
|
|
|
$
|
2,198
|
|
|
$
|
536
|
|
|
$
|
6,413
|
|
Operating expenses
|
2,419
|
|
|
1,849
|
|
|
874
|
|
|
5,142
|
|
||||
Depreciation and amortization from continuing operations
|
214
|
|
|
133
|
|
|
64
|
|
|
411
|
|
||||
Purchase accounting amortization
|
—
|
|
|
—
|
|
|
215
|
|
|
215
|
|
||||
EBITDA
|
1,474
|
|
|
482
|
|
|
(59
|
)
|
|
1,897
|
|
||||
Contract settlement
|
9
|
|
|
—
|
|
|
—
|
|
|
9
|
|
||||
Acquisition, integration and severance costs
|
—
|
|
|
—
|
|
|
21
|
|
|
21
|
|
||||
Adjusted EBITDA
|
$
|
1,483
|
|
|
$
|
482
|
|
|
$
|
(38
|
)
|
|
1,927
|
|
|
|
|
|
|
|
|
|
|
||||||||
EBITDA
|
|
|
|
|
|
|
$
|
1,897
|
|
||||||
Interest expense
|
|
|
|
|
|
|
158
|
|
|||||||
Depreciation and amortization from continuing operations
|
|
|
|
|
|
|
411
|
|
|||||||
Purchase accounting amortization
|
|
|
|
|
|
|
215
|
|
|||||||
Other income (expense) unallocated
|
|
|
|
|
|
|
(60
|
)
|
|||||||
Provision for income taxes
|
|
|
|
|
|
|
335
|
|
|||||||
Net earnings (loss) from discontinued operations
|
|
|
|
|
|
|
(11
|
)
|
|||||||
Net earnings attributable to noncontrolling interest
|
|
|
|
|
|
|
28
|
|
|||||||
Net earnings attributable to FIS common stockholders
|
|
|
|
|
|
|
$
|
679
|
|
||||||
Capital expenditures (1)
|
$
|
207
|
|
|
$
|
155
|
|
|
$
|
36
|
|
|
$
|
398
|
|
Total assets
|
$
|
8,631
|
|
|
$
|
3,699
|
|
|
$
|
2,182
|
|
|
$
|
14,512
|
|
Goodwill
|
$
|
6,627
|
|
|
$
|
1,990
|
|
|
$
|
261
|
|
|
$
|
8,878
|
|
|
|
|
|
|
|
Total cost of shares
|
|||||
|
|
|
|
|
|
purchased as part of
|
|||||
|
|
Total number of
|
|
Average price
|
|
publicly announced
|
|||||
Year ended
|
|
shares purchased
|
|
paid per share
|
|
plans or programs
|
|||||
December 31, 2016
|
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
December 31, 2015
|
|
5
|
|
|
$
|
66.10
|
|
|
$
|
300
|
|
December 31, 2014
|
|
9
|
|
|
$
|
54.89
|
|
|
$
|
476
|
|
Item 9.
|
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
|
Item 9A.
|
Controls and Procedures.
|
Item 9B.
|
Other Information.
|
Item 15.
|
Exhibits and Financial Statement Schedules
|
(1)
|
Financial Statement Schedules: All schedules have been omitted because they are not applicable or the required information is included in the Consolidated Financial Statements or Notes to Consolidated Financial Statements.
|
(2)
|
Exhibits: The following is a complete list of exhibits included as part of this report, including those incorporated by reference. A list of those documents filed with this report is set forth on the Exhibit Index appearing elsewhere in this report and is incorporated by reference.
|
|
|
Incorporated by Reference
|
|
||||
Exhibit
|
|
|
SEC File
|
|
|
Filed/ Furnished
|
|
No.
|
Exhibit Description
|
Form
|
Number
|
Exhibit
|
Filing Date
|
Herewith
|
|
2.1
|
|
Agreement and Plan of Merger, dated as of August 12, 2015, by and among Fidelity National Information Services, Inc., SunGard, SunGard Capital Corp. II, Seahawk Merger Sub 1, Inc., Seahawk Merger Sub, LLC and Seahawk Merger Sub 3, Inc.
|
8-K
|
001-16427
|
2.1
|
8/14/2015
|
|
3.1
|
|
Amended and Restated Articles of Incorporation of Fidelity National Information Services, Inc.
|
8-K
|
001-16427
|
3.1
|
2/6/2006
|
|
3.2
|
|
Amendment To Articles of Incorporation of Fidelity National Information Services, Inc.
|
10-K
|
001-16427
|
3.2
|
2/26/2013
|
|
3.3
|
|
Amendment To Articles of Incorporation of Fidelity National Information Services, Inc.
|
10-Q
|
001-16427
|
3.1
|
8/7/2014
|
|
3.4
|
|
Fourth Amended and Restated Bylaws of Fidelity National Information Services, Inc.
|
8-K
|
001-16427
|
3.1
|
1/27/2017
|
|
4.1
|
|
Form of certificate representing Fidelity National Information Services, Inc. Common Stock.
|
S-3ASR
|
333-131593
|
4.3
|
2/6/2006
|
|
4.2
|
|
Indenture, dated as of March 19, 2012, among FIS, as issuer, the subsidiaries of FIS listed on the signature page thereto, as guarantors, and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee.
|
8-K
|
001-16427
|
4.1
|
3/20/2012
|
|
4.3
|
|
Indenture, dated as of April 15, 2013, among FIS, the Guarantors and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee.
|
8-K
|
001-16427
|
4.1
|
4/15/2013
|
|
4.4
|
|
First Supplemental Indenture, dated as of April 15, 2013, among FIS, each of the Guarantors and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee.
|
8-K
|
001-16427
|
4.2
|
4/15/2013
|
|
4.5
|
|
Second Supplemental Indenture, dated as of April 15, 2013, among FIS, each of the Guarantors and The Bank of New York Mellon Trust Company, N.A., a national banking association as trustee.
|
8-K
|
001-16427
|
4.3
|
4/15/2013
|
|
4.6
|
|
Third Supplemental Indenture, dated as of June 3, 2014, among FIS, each of the Guarantors and the Bank of New York Mellon Trust Company, N.A. a national banking association, as trustee.
|
8-K
|
001-16427
|
4.1
|
6/3/2014
|
|
4.7
|
|
Fourth Supplemental Indenture, dated as of June 3, 2014, among FIS, each of the Guarantors and the Bank of New York Mellon Trust Company, N.A. a national banking association, as trustee.
|
8-K
|
001-16427
|
4.2
|
6/3/2014
|
|
|
|
Incorporated by Reference
|
|
|||
Exhibit
|
|
|
SEC File
|
|
|
Filed/ Furnished
|
No.
|
Exhibit Description
|
Form
|
Number
|
Exhibit
|
Filing Date
|
Herewith
|
4.8
|
Fifth Supplemental Indenture, dated as of October 20, 2015 between FIS and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee.
|
8-K
|
001-16427
|
4.1
|
10/20/2015
|
|
4.9
|
Sixth Supplemental Indenture, dated as of October 20, 2015 between FIS and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee.
|
8-K
|
001-16427
|
4.2
|
10/20/2015
|
|
4.10
|
Seventh Supplemental Indenture, dated as of October 20, 2015 between FIS and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee.
|
8-K
|
001-16427
|
4.3
|
10/20/2015
|
|
4.11
|
Eighth Supplemental Indenture, dated as of October 20, 2015 between FIS and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee.
|
8-K
|
001-16427
|
4.4
|
10/20/2015
|
|
4.12
|
Ninth Supplemental Indenture, dated as of August 16, 2016 between FIS and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee.
|
8-K
|
001-16427
|
4.1
|
8/16/2016
|
|
4.13
|
Tenth Supplemental Indenture, dated as of August 16, 2016 between FIS and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee.
|
8-K
|
001-16427
|
4.2
|
8/16/2016
|
|
4.14
|
Eleventh Supplemental Indenture, dated as of August 16, 2016 between FIS and The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee.
|
8-K
|
001-16427
|
4.3
|
8/16/2016
|
|
10.1
|
Tax Disaffiliation Agreement, dated as of October 23, 2006, by and among Fidelity National Financial, Inc., Fidelity National Title Group, Inc. and Fidelity National Information Services, Inc.
|
8-K
|
001-16427
|
99.1
|
10/27/2006
|
|
10.2
|
Cross-Indemnity Agreement, dated as of October 23, 2006 by and between Fidelity National Information Services, Inc. and Fidelity National Title Group, Inc.
|
8-K
|
001-16427
|
99.2
|
10/27/2006
|
|
10.3
|
Certegy Inc. Deferred Compensation Plan, effective as of June 15, 2001. (1)
|
10-K405
|
001-16427
|
10.25
|
3/25/2002
|
|
10.4
|
Certegy 2002 Bonus Deferral Program Terms and Conditions. (1)
|
10-K405
|
001-16427
|
10.29
|
3/25/2002
|
|
10.5
|
Certegy Inc. Executive Life and Supplemental Retirement Benefit Plan Split Dollar Life Insurance Agreement, effective as of November 7, 2003. (1)
|
10-K
|
001-16427
|
10.40
|
2/17/2004
|
|
10.6
|
Grantor Trust Agreement, dated as of July 8, 2001, between Certegy Inc. and Wachovia Bank, N.A. (1)
|
10-K405
|
001-16427
|
10.15
|
3/25/2002
|
|
|
|
Incorporated by Reference
|
|
||||
Exhibit
|
|
|
SEC File
|
|
|
Filed/ Furnished
|
|
No.
|
Exhibit Description
|
Form
|
Number
|
Exhibit
|
Filing Date
|
Herewith
|
|
10.7
|
|
Grantor Trust Agreement, dated as of July 8, 2001 and amended and restated as of December 5, 2003, between Certegy Inc. and Wachovia Bank, N.A. (1)
|
10-K
|
001-16427
|
10.15(a)
|
2/17/2004
|
|
10.8
|
|
Form of Stock Option Agreement and Notice of Stock Option Grant under Fidelity National Information Services, Inc. 2005 Stock Incentive Plan. (1)
|
8-K
|
|
99.10
|
8/25/2005
|
|
10.9
|
|
Fidelity National Financial, Inc. 2004 Omnibus Incentive Plan, effective as of December 16, 2004. (1)
|
Schedule 14A
|
|
Annex A
|
11/15/2004
|
|
10.10
|
|
Form of Notice of Stock Option Grant and Stock Option Agreement under Fidelity National Information Services, Inc. 2008 Omnibus Incentive Plan. (1)
|
10-K
|
001-16427
|
10.50
|
2/27/2009
|
|
10.11
|
|
Fidelity National Information Services, Inc. Employee Stock Purchase Plan, effective as of March 16, 2006. (1)
|
S-4/A
|
333-135845
|
Annex C
|
9/19/2006
|
|
10.12
|
|
Amended and Restated Metavante 2007 Equity Incentive Plan. (1)
|
S-8
|
333-158960
|
10.1
|
10/1/2009
|
|
10.13
|
|
Form of Metavante Non-Statutory Stock Option Award - Certificate of Award Agreement for grants made between November 2007 and October 2008. (1)
|
Metavante Technologies, Inc. 8-K
|
001-33747
|
10.10(a)
|
11/6/2007
|
|
10.14
|
|
Form of Metavante Non-Statutory Stock Option Award - Certificate of Award Agreement for grants made in November 2008. (1)
|
Metavante Technologies, Inc.10-K
|
001-33747
|
10.10(b)
|
2/20/2009
|
|
10.15
|
|
Form of Stock Option Agreement for grants made in November 2009 under the Amended and Restated Metavante 2007 Equity Incentive Plan. (1)
|
10-K
|
001-16427
|
10.44
|
2/26/2010
|
|
10.16
|
|
Form of Stock Option grant issued under Amended and Restated Metavante 2007 Equity Incentive Plan - Certificate of Option Agreement for grants made in October 2010. (1)
|
10-K
|
001-16427
|
10.70
|
2/25/2011
|
|
10.17
|
|
Fidelity National Information Services, Inc. Annual Incentive Plan, effective as of October 23, 2006. (1)
|
S-4/A
|
333-135845
|
Annex D
|
9/19/2006
|
|
10.18
|
|
Acceleration, Change of Role and Non-Competition Agreement, dated as of March 30, 2012, by and among Fidelity National Information Services, Inc. and William P. Foley II. (1)
|
10-Q
|
001-16427
|
10.1
|
5/4/2012
|
|
10.19
|
|
Form of Fidelity National Information Services, Inc. (f/k/a Certegy Inc.) Non-Qualified Stock Option Agreement. (1)
|
10-K
|
001-16427
|
10.56
|
3/1/2007
|
|
10.20
|
|
Employment Agreement, dated as of March 31, 2009, by and among Fidelity National Information Services, Inc. and Frank R. Martire. (1)
|
S-4
|
333-158960
|
10.1
|
5/4/2009
|
|
|
|
Incorporated by Reference
|
|
||||
Exhibit
|
|
|
SEC File
|
|
|
Filed/ Furnished
|
|
No.
|
Exhibit Description
|
Form
|
Number
|
Exhibit
|
Filing Date
|
Herewith
|
|
10.21
|
|
Amendment to the Employment Agreement by and between Fidelity National Information Services, Inc. and Frank R. Martire, effective as of December 1, 2009. (1)
|
8-K
|
001-16427
|
10.1
|
12/3/2009
|
|
10.22
|
|
Amendment No. 1 to Employment Agreement, effective as of March 30, 2012, by and among Fidelity National Information Services, Inc. and Frank R. Martire. (1)
|
10-Q
|
001-16427
|
10.3
|
5/4/2012
|
|
10.23
|
|
Amendment to Employment Agreement, effective as of January 1, 2015, by and among Fidelity National Information Services, Inc. and Frank R. Martire. (1)
|
10-K
|
001-16427
|
10.28
|
2/27/2015
|
|
10.24
|
|
Amendment to Employment Agreement, effective as of February 23, 2016 by and among Fidelity National Information Services, Inc. and Frank R. Martire. (1)
|
10-K
|
001-16427
|
10.29
|
2/26/2016
|
|
10.25
|
|
Severance Agreement and Release, effective as of December 31, 2016 by and among Fidelity National Information Services, Inc. and Frank R. Martire. (1)
|
|
|
|
|
*
|
10.26
|
|
Agreement to Serve as Chairman of the FIS' Board of Directors, effective as of January 1, 2017 by and among Fidelity National Information Services, Inc. and Frank R. Martire. (1)
|
|
|
|
|
*
|
10.27
|
|
Amended and Restated Employment Agreement, effective as of December 29, 2009, by and among Fidelity National Information Services, Inc. and Gary A. Norcross. (1)
|
8-K
|
001-16427
|
10.1
|
12/29/2009
|
|
10.28
|
|
Amendment No. 1 to Amended and Restated Employment Agreement, effective as of March 30, 2012, by and among Fidelity National Information Services, Inc., and Gary A. Norcross. (1)
|
10-Q
|
001-16427
|
10.4
|
5/4/2012
|
|
10.29
|
|
Amendment to Employment Agreement, effective as of January 1, 2015, by and among Fidelity National Information Services, Inc., and Gary A. Norcross. (1)
|
10-K
|
001-16427
|
10.31
|
2/27/2015
|
|
10.30
|
|
Amendment to Employment Agreement, effective as of February 23, 2016, by and among Fidelity National Information Services, Inc., and Gary A. Norcross. (1)
|
10-K
|
001-16427
|
10.33
|
2/26/2016
|
|
10.31
|
|
Employment Agreement, effective as of October 1, 2009, by and among Fidelity National Information Services, Inc. and James W. Woodall. (1)
|
8-K
|
001-16427
|
10.13
|
10/2/2009
|
|
|
|
Incorporated by Reference
|
|
||||
Exhibit
|
|
|
SEC File
|
|
|
Filed/ Furnished
|
|
No.
|
Exhibit Description
|
Form
|
Number
|
Exhibit
|
Filing Date
|
Herewith
|
|
10.32
|
|
Amendment to Employment Agreement, effective as of January 29, 2013, by and between Fidelity National Information Services, Inc., and James W. Woodall. (1)
|
10-K
|
001-16427
|
10.51
|
2/28/2014
|
|
10.33
|
|
Second Amendment to Employment Agreement, effective as of March 15, 2013, by and between Fidelity National Information Services, Inc., and James W. Woodall. (1)
|
10-K
|
001-16427
|
10.52
|
2/28/2014
|
|
10.34
|
|
Amendment to Employment Agreement, effective as of February 23, 2016, by and between Fidelity National Information Services, Inc., and James W. Woodall. (1)
|
10-K
|
001-16427
|
10.37
|
2/26/2016
|
|
10.35
|
|
Employment Agreement, effective as of October 1, 2009, by and among Fidelity National Information Services, Inc., and Michael P. Oates. (1)
|
10-K
|
001-16427
|
10.43
|
2/28/2014
|
|
10.36
|
|
Amendment No. 1 to Employment Agreement, effective as of February 8, 2012, by and among Fidelity National Information Services, Inc., and Michael P. Oates. (1)
|
10-K
|
001-16427
|
10.44
|
2/28/2014
|
|
10.37
|
|
Amendment No. 2 to Employment Agreement, effective as of January 29, 2013, by and among Fidelity National Information Services, Inc., and Michael P. Oates. (1)
|
10-K
|
001-16427
|
10.82
|
2/26/2013
|
|
10.38
|
|
Amendment to Employment Agreement, effective as of February 23, 2016 by and among Fidelity National Information Services, Inc., and Michael P. Oates. (1)
|
10-K
|
001-16427
|
10.41
|
2/26/2016
|
|
10.39
|
|
Employment Agreement, effective as of April 16, 2012, by and among Fidelity National Information Services, Inc., and Gregory G. Montana. (1)
|
10-K
|
001-16427
|
10.81
|
2/26/2013
|
|
10.40
|
|
Amendment to Employment Agreement, effective as of February 23, 2016 by and among Fidelity National Information Services, Inc., and Gregory G. Montana. (1)
|
10-K
|
001-16427
|
10.43
|
2/26/2016
|
|
10.41
|
|
Employment Agreement, effective as of October 1, 2009, by and between Fidelity National Information Services, Inc. and Anthony Jabbour. (1)
|
10-K
|
001-16427
|
10.46
|
2/26/2016
|
|
10.42
|
|
Amendment to Employment Agreement, effective as of February 23, 2016 by and between Fidelity National Information Services, Inc. and Anthony Jabbour. (1)
|
10-K
|
001-16427
|
10.47
|
2/26/2016
|
|
10.43
|
|
Employment Agreement, effective as of February 1, 2016, by and between Fidelity National Information Services, Inc. and Marianne Brown. (1)
|
10-K
|
001-16427
|
10.48
|
2/26/2016
|
|
|
|
Incorporated by Reference
|
|
||||
Exhibit
|
|
|
SEC File
|
|
|
Filed/ Furnished
|
|
No.
|
Exhibit Description
|
Form
|
Number
|
Exhibit
|
Filing Date
|
Herewith
|
|
10.44
|
|
Employment Agreement, effective as of November 15, 2016, by and between Fidelity National Information Services, Inc. and Katy Thompson. (1)
|
|
|
|
|
*
|
10.45
|
|
Form of Stock Option grant issued under Fidelity National Information Services, Inc. 2008 Omnibus Incentive Plan - Certificate of Option Agreement for grants made in October 2010. (1)
|
10-K
|
001-16427
|
10.65
|
2/25/2011
|
|
10.46
|
|
Form of Stock Option grant issued under Fidelity National Information Services, Inc. 2008 Omnibus Incentive Plan - Certificate of Option Agreement for grants made in April, June, September and October 2010. (1)
|
10-K
|
001-16427
|
10.66
|
2/25/2011
|
|
10.47
|
|
Form of Restricted Stock Grant for Directors under Fidelity National Information Services, Inc., 2008 Omnibus Incentive Plan for grants made in November 2012. (1)
|
10-K
|
001-16427
|
10.53
|
2/28/2014
|
|
10.48
|
|
Form of Restricted Stock Grant for Employees under Fidelity National Information Services, Inc., 2008 Omnibus Incentive Plan for grants made in November 2012. (1)
|
10-K
|
001-16427
|
10.54
|
2/28/2014
|
|
10.49
|
|
Form of Restricted Stock Grant for Employees under Fidelity National Information Services, Inc., pursuant to the Amended and Restated 2008 Omnibus Incentive Plan for grants made in November 2012. (1)
|
10-K
|
001-16427
|
10.55
|
2/28/2014
|
|
10.50
|
|
Form of Restricted Stock Grant for Directors under Fidelity National Information Services, Inc. amended and restated 2008 Omnibus Incentive Plan for grants made in October and December 2013. (1)
|
10-K
|
001-16427
|
10.56
|
2/28/2014
|
|
10.51
|
|
Form of Non-Statutory Stock Option Award under Fidelity National Information Services, Inc. amended and restated 2008 Omnibus Incentive Plan for grants made in October and December 2013. (1)
|
10-K
|
001-16427
|
10.57
|
2/28/2014
|
|
10.52
|
|
Form of Restricted Stock Grant for Employees under Fidelity National Information Services, Inc. amended and restated 2008 Omnibus Incentive Plan for grants made in October 2013. (1)
|
10-K
|
001-16427
|
10.58
|
2/28/2014
|
|
10.53
|
|
Fidelity National Information Services, Inc. 2008 Omnibus Incentive Plan, as amended and restated effective May 29, 2013. (1)
|
DEF 14A
|
001-16427
|
Annex A
|
4/19/2013
|
|
10.54
|
|
Form of Restricted Stock Grant for Employees under Fidelity National Information Services, Inc. amended and restated 2008 Omnibus Incentive Plan for grants made in 2014. (1)
|
10-K
|
001-16427
|
10.58
|
2/26/2016
|
|
|
|
Incorporated by Reference
|
|
|||
Exhibit
|
|
|
SEC File
|
|
|
Filed/ Furnished
|
No.
|
Exhibit Description
|
Form
|
Number
|
Exhibit
|
Filing Date
|
Herewith
|
10.55
|
Form of Restricted Stock Grant for Directors under Fidelity National Information Services, Inc. amended and restated 2008 Omnibus Incentive Plan for grants made in 2014. (1)
|
10-K
|
001-16427
|
10.59
|
2/26/2016
|
|
10.56
|
Form of Non-Statutory Stock Option Award under Fidelity National Information Services, Inc. amended and restated 2008 Omnibus Incentive Plan for grants made in 2014. (1)
|
10-K
|
001-16427
|
10.60
|
2/26/2016
|
|
10.57
|
Form of Restricted Stock Grant for Employees under Fidelity National Information Services, Inc. amended and restated 2008 Omnibus Incentive Plan for grants made in 2015. (1)
|
10-K
|
001-16427
|
10.61
|
2/26/2016
|
|
10.58
|
Form of Restricted Stock Grant for Directors under Fidelity National Information Services, Inc. amended and restated 2008 Omnibus Incentive Plan for grants made in 2015. (1)
|
10-K
|
001-16427
|
10.62
|
2/26/2016
|
|
10.59
|
Form of Non-Statutory Stock Option Award under Fidelity National Information Services, Inc. amended and restated 2008 Omnibus Incentive Plan for grants made in 2015. (1)
|
10-K
|
001-16427
|
10.63
|
2/26/2016
|
|
10.60
|
Form of Restricted Stock Grant for Employees under Fidelity National Information Services, Inc. amended and restated 2008 Omnibus Incentive Plan for grants made in 2016. (1)
|
|
|
|
|
*
|
10.61
|
Form of Restricted Stock Grant for Directors under Fidelity National Information Services, Inc. amended and restated 2008 Omnibus Incentive Plan for grants made in 2016. (1)
|
|
|
|
|
*
|
10.62
|
Form of Non-Statutory Stock Option Award under Fidelity National Information Services, Inc. amended and restated 2008 Omnibus Incentive Plan for grants made in 2016. (1)
|
|
|
|
|
*
|
10.63
|
Amendment Agreement, dated as of August 21, 2015, by and among Fidelity National Information Services, Inc., certain subsidiaries of the Company party thereto, each lender party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer and Bank of America, N.A., Wells Fargo Bank, National Association, HSBC Bank USA, National Association, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and U.S. Bank National Association, as Swing Line Lenders and L/C Issuers.
|
8-K
|
001-16427
|
10.1
|
8/25/2015
|
|
10.64
|
Term Loan Credit Agreement, dated as of September 1, 2015, by and among Fidelity National Information Services, Inc., each lender party thereto and Bank of America, N.A., as Administrative Agent.
|
8-K
|
001-16427
|
10.1
|
9/3/2015
|
|
|
|
Incorporated by Reference
|
|
|||
Exhibit
|
|
|
SEC File
|
|
|
Filed/ Furnished
|
No.
|
Exhibit Description
|
Form
|
Number
|
Exhibit
|
Filing Date
|
Herewith
|
32.2
|
Certification of James W. Woodall, Chief Financial Officer of Fidelity National Information Services, Inc., pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
|
*
|
101.INS+
|
XBRL Instance Document
|
|
|
|
|
*
|
101.SCH+
|
XBRL Taxonomy Extension Schema Document
|
|
|
|
|
*
|
101.CAL+
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
|
|
*
|
101.DEF+
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
|
|
*
|
101.LAB+
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
|
|
|
*
|
101.PRE+
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
|
|
|
*
|
|
|
FIDELITY NATIONAL INFORMATION SERVICES, INC.
|
|
Date:
|
February 23, 2017
|
By:
|
/s/ GARY A. NORCROSS
|
|
|
|
Gary A. Norcross
|
|
|
|
President and Chief Executive Officer
|
Date:
|
February 23, 2017
|
By:
|
/s/ JAMES W. WOODALL
|
|
|
|
James W. Woodall
|
|
|
|
Corporate Executive Vice President and
|
|
|
|
Chief Financial Officer (Principal Financial Officer)
|
|
|
|
|
Date:
|
February 23, 2017
|
By:
|
/s/ KATY T. THOMPSON
|
|
|
|
Katy T. Thompson
|
|
|
|
Chief Accounting Officer
|
|
|
|
(Principal Accounting Officer)
|
|
|
|
|
Date:
|
February 23, 2017
|
By:
|
/s/ FRANK R. MARTIRE
|
|
|
|
Frank R. Martire
|
|
|
|
Chairman of the Board
|
|
|
|
Director
|
|
|
|
|
Date:
|
February 23, 2017
|
By:
|
/s/ WILLIAM P. FOLEY, II
|
|
|
|
William P. Foley, II
|
|
|
|
Vice Chairman of the Board
|
|
|
|
|
Date:
|
February 23, 2017
|
By:
|
/s/ GARY A. NORCROSS
|
|
|
|
Gary A. Norcross
|
|
|
|
President, Chief Executive Officer and Director
|
|
|
|
|
Date:
|
February 23, 2017
|
By:
|
/s/ ELLEN R. ALEMANY
|
|
|
|
Ellen R. Alemany
|
|
|
|
Director
|
|
|
|
|
Date:
|
February 23, 2017
|
By:
|
/s/ THOMAS M. HAGERTY
|
|
|
|
Thomas M. Hagerty
|
|
|
|
Director
|
|
|
|
|
Date:
|
February 23, 2017
|
By:
|
/s/ KEITH W. HUGHES
|
|
|
|
Keith W. Hughes
|
|
|
|
Director
|
|
|
|
|
Date:
|
February 23, 2017
|
By:
|
/s/ DAVID K. HUNT
|
|
|
|
David K. Hunt
|
|
|
|
Director
|
|
|
|
|
Date:
|
February 23, 2017
|
By:
|
/s/ STEPHAN A. JAMES
|
|
|
|
Stephan A. James
|
|
|
|
Director
|
Date:
|
February 23, 2017
|
By:
|
/s/ RICHARD N. MASSEY
|
|
|
|
Richard N. Massey
|
|
|
|
Director
|
|
|
|
|
Date:
|
February 23, 2017
|
By:
|
/s/ LESLIE M. MUMA
|
|
|
|
Leslie M. Muma
|
|
|
|
Director
|
|
|
|
|
Date:
|
February 23, 2017
|
By:
|
/s/ JAMES B. STALLINGS, JR.
|
|
|
|
James B. Stallings, Jr.
|
|
|
|
Director
|
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