Business Context and Reporting Period
Company: Fidelity National Information Services, Inc. (FIS)
Filing Type: Form 8-K (Current Report)
Date: March 19, 2009
Context: Following the July 2, 2008 spin-off of Lender Processing Services, Inc. (LPS), FIS reorganized its reporting structure into four segments: Financial Solutions, Payment Solutions, International, and Corporate and Other. This filing provides supplemental financial schedules recasting 2008 quarterly results to align with this new segment structure, offering investors timely data prior to the official 2009 Form 10-Q filings.
Key Financial Metrics
Revenue, Profit, Cash Flow, Margins, Debt, Liquidity: The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The document serves as a cover for Exhibit 99.1, which contains the actual supplemental financial schedules. The text confirms that the attached exhibit includes GAAP revenue, GAAP operating income, non-GAAP operating income, and adjusted EBITDA for 2008 quarters, but the specific figures are not present in the provided text.
Material Changes
- Segment Reclassification: The primary material change is the recasting of 2008 operating results to reflect the new four-segment reporting model (Financial Solutions, Payment Solutions, International, Corporate and Other) rather than the pre-spin-off structure.
- Reporting Timing: Management is furnishing this data voluntarily to improve investor understanding of the new segment performance before the official 2009 quarterly reports are filed.
Guidance, Outlook, and Management Commentary
Management Commentary: Management utilizes non-GAAP measures (adjusted operating income and EBITDA) for planning, budgeting, and evaluating performance against competitors. These measures exclude items deemed not indicative of core operating results. Management emphasizes that non-GAAP measures should be used in conjunction with, not as a substitute for, GAAP measures.
Legal Status of Data: The information in Items 2.02 and 9.01 is "furnished" rather than "filed" under the Securities Exchange Act of 1934. Consequently, it is not subject to Section 18 liabilities and will not be incorporated by reference into registration statements.
Guidance and Risks: The filing text does not contain specific forward-looking guidance, risk factors, or contingencies beyond the standard disclaimer regarding the use of non-GAAP measures.
Investor Verification Checklist
- Verify the specific numerical values for GAAP and non-GAAP revenue and operating income in Exhibit 99.1, as they are referenced but not listed in the main text.
- Confirm the reconciliation between GAAP and non-GAAP measures to understand the specific items excluded from adjusted EBITDA.
- Review the upcoming Form 10-Q for Q1 2009 to see how the new segment reporting is officially applied to current period results.
- Note that the data provided is historical (2008) and recast; it does not represent new 2009 operational results.