Business Context and Reporting Period
This Form 8-K is filed by Certegy Inc. (not Fidelity National Information Services, Inc.) on March 28, 2003. The report discloses the mailing of the Annual Report to Shareholders for the fiscal year ended December 31, 2002. The filing focuses on Regulation FD disclosure regarding non-GAAP financial measures included in the Annual Report.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references the existence of five-year financial data tables and bar charts on pages 8 and 10 of the 2002 Annual Report (furnished as Exhibit 99.1), which include:
- GAAP Operating Income.
- Non-GAAP Operating Income (excluding severance, other charges, and adjustments).
- Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA).
A reconciliation of these non-GAAP measures to GAAP operating income is noted to be present in the Annual Report, but the specific figures are not contained within this 8-K text.
Material Changes
The filing does not detail specific material changes in financial performance versus prior periods. It notes that Certegy was spun off from Equifax Inc. in 2001. Management states that non-GAAP adjustments are utilized to allow for a more meaningful comparison of financial condition and results over a five-year period, accounting for the impact of the spin-off.
Guidance, Outlook, and Management Commentary
Management commentary indicates that the presentation of non-GAAP financial measures is intended to help investors and management evaluate core operating results from ongoing operations in a consistent manner. The filing explicitly states that the information is furnished solely pursuant to Item 12 of Form 8-K and is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934. No forward-looking guidance or specific risk factors are detailed in this text.
Investor Verification Checklist
- Verify the specific numerical values for GAAP and non-GAAP operating income and EBITDA in Exhibit 99.1 (Pages 8 and 10 of the 2002 Annual Report).
- Review the reconciliation footnote on page 8 of the Annual Report to understand the specific adjustments made to derive non-GAAP figures.
- Confirm the impact of the 2001 spin-off from Equifax Inc. on the five-year trend data presented.
- Note that this 8-K serves as a disclosure vehicle for the Annual Report and does not contain the full financial statements itself.