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Supplemental Guarantor Financial Information
6 Months Ended
Jun. 30, 2014
Supplemental Guarantor Financial Information [Abstract]  
Supplemental Guarantor Financial Information
Supplemental Guarantor Financial Information

The following supplemental financial information sets forth for FIS and its guarantor and non-guarantor subsidiaries: (a) the Condensed Consolidating Balance Sheets as of June 30, 2014 and December 31, 2013; (b) the Condensed Consolidating Statements of Earnings and Comprehensive Earnings for the three and six months ended June 30, 2014 and 2013; and (c) the Condensed Consolidating Statements of Cash Flows for the six months ended June 30, 2014 and 2013. Each guarantor subsidiary is 100% owned by FIS and all guarantees are full and unconditional as well as joint and several.
 
Condensed Consolidating Balance Sheets
 
June 30, 2014
 
 
 
Guarantor
 
Non-guarantor
 
 
 
 
 
FIS
 
subsidiaries
 
subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
30.0

 
$
264.5

 
$
499.2

 
$

 
$
793.7

Settlement deposits

 
439.5

 

 

 
439.5

Trade receivables, net

 
724.3

 
293.9

 

 
1,018.2

Investment in subsidiaries, intercompany and receivables from related parties
9,687.0

 
11,346.8

 
896.7

 
(21,892.3
)
 
38.2

Other current assets
15.3

 
305.4

 
224.6

 

 
545.3

Total current assets
9,732.3

 
13,080.5

 
1,914.4

 
(21,892.3
)
 
2,834.9

Property and equipment, net
5.9

 
320.3

 
132.8

 

 
459.0

Goodwill

 
7,212.7

 
1,305.0

 

 
8,517.7

Intangible assets, net

 
895.2

 
351.3

 

 
1,246.5

Computer software, net
38.1

 
662.2

 
169.4

 

 
869.7

Other noncurrent assets
65.6

 
331.1

 
116.3

 

 
513.0

Total assets
$
9,841.9

 
$
22,502.0

 
$
3,989.2

 
$
(21,892.3
)
 
$
14,440.8

Liabilities and Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
$
125.3

 
$
200.8

 
$
322.4

 
$

 
$
648.5

Settlement payables

 
566.2

 
164.5

 

 
730.7

Current portion of long-term debt
14.1

 
8.3

 
0.6

 

 
23.0

Deferred revenues

 
187.9

 
88.1

 

 
276.0

Other current liabilities

 

 
23.1

 

 
23.1

Total current liabilities
139.4

 
963.2

 
598.7

 

 
1,701.3

Deferred income taxes

 
767.7

 
48.7

 

 
816.4

Long-term debt, excluding current portion
4,895.3

 
5.0

 
0.2

 

 
4,900.5

Other long-term liabilities
6.4

 
94.0

 
222.1

 

 
322.5

Total liabilities
5,041.1

 
1,829.9

 
869.7

 

 
7,740.7

Total equity
4,800.8

 
20,672.1

 
3,119.5

 
(21,892.3
)
 
6,700.1

Total liabilities and equity
$
9,841.9

 
$
22,502.0

 
$
3,989.2

 
$
(21,892.3
)
 
$
14,440.8

 
Condensed Consolidating Balance Sheets
 
December 31, 2013
 
 
 
Guarantor
 
Non-guarantor
 
 
 
 
 
FIS
 
subsidiaries
 
subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
21.5

 
$
172.4

 
$
353.6

 
$

 
$
547.5

Settlement deposits

 
327.4

 

 

 
327.4

Trade receivables, net

 
709.4

 
278.5

 

 
987.9

Investment in subsidiaries, intercompany and receivables from related parties
9,305.8

 
10,846.7

 
1,083.5

 
(21,200.2
)
 
35.8

Other current assets
38.1

 
289.4

 
125.8

 

 
453.3

Total current assets
9,365.4

 
12,345.3

 
1,841.4

 
(21,200.2
)
 
2,351.9

Property and equipment, net
6.5

 
329.3

 
103.2

 

 
439.0

Goodwill

 
7,212.7

 
1,287.3

 

 
8,500.0

Intangible assets, net

 
993.2

 
346.1

 

 
1,339.3

Computer software, net
36.4

 
656.5

 
163.6

 

 
856.5

Other noncurrent assets
63.6

 
294.5

 
115.3

 

 
473.4

Total assets
$
9,471.9

 
$
21,831.5

 
$
3,856.9

 
$
(21,200.2
)
 
$
13,960.1

Liabilities and Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
$
184.7

 
$
229.2

 
$
354.1

 
$

 
$
768.0

Settlement payables

 
453.0

 
65.6

 

 
518.6

Current portion of long-term debt
114.1

 
13.3

 
1.4

 

 
128.8

Deferred revenues

 
172.4

 
71.2

 

 
243.6

Other current liabilites

 

 
13.7

 

 
13.7

Total current liabilities
298.8

 
867.9

 
506.0

 

 
1,672.7

Deferred income taxes

 
778.8

 
44.8

 

 
823.6

Long-term debt, excluding current portion
4,333.2

 
6.3

 
0.3

 

 
4,339.8

Other long-term liabilities
2.8

 
98.8

 
285.1

 

 
386.7

Total liabilities
4,634.8

 
1,751.8

 
836.2

 

 
7,222.8

Total equity
4,837.1

 
20,079.7

 
3,020.7

 
(21,200.2
)
 
6,737.3

Total liabilities and equity
$
9,471.9

 
$
21,831.5

 
$
3,856.9

 
$
(21,200.2
)
 
$
13,960.1



 
Condensed Consolidating Statements of Earnings and Comprehensive Earnings
 
Three months ended June 30, 2014
 
 
 
Guarantor
 
Non-guarantor
 
 
 
 
 
FIS
 
subsidiaries
 
subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Processing and services revenues
$

 
$
1,221.2

 
$
377.9

 
$

 
$
1,599.1

Operating expenses
53.6

 
922.8

 
313.0

 

 
1,289.4

Operating income
(53.6
)
 
298.4

 
64.9

 

 
309.7

Other income (expense):
 
 
 
 
 
 
 
 
 
Interest expense, net
(43.4
)
 
(0.4
)
 
1.9

 

 
(41.9
)
Other income (expense)
0.7

 
(2.0
)
 
0.1

 

 
(1.2
)
Net earnings (loss) of equity affiliates
255.4

 

 

 
(255.4
)
 

Total other income (expense)
212.7

 
(2.4
)
 
2.0

 
(255.4
)
 
(43.1
)
Earnings (loss) from continuing operations before income taxes
159.1

 
296.0

 
66.9

 
(255.4
)
 
266.6

Provision (benefit) for income taxes
(27.1
)
 
83.2

 
24.3

 

 
80.4

Net earnings (loss) from continuing operations
186.2

 
212.8

 
42.6

 
(255.4
)
 
186.2

Earnings (loss) from discontinued operations, net of tax
(0.9
)
 

 
(0.9
)
 
0.9

 
(0.9
)
Net earnings (loss)
185.3

 
212.8

 
41.7

 
(254.5
)
 
185.3

Net (earnings) loss attributable to noncontrolling interest
(6.5
)
 
(0.2
)
 
(6.3
)
 
6.5

 
(6.5
)
Net earnings (loss) attributable to FIS common stockholders
$
178.8

 
$
212.6

 
$
35.4

 
$
(248.0
)
 
$
178.8

Comprehensive earnings (loss) attributable to FIS
$
188.5

 
$
212.2

 
$
46.1

 
$
(258.3
)
 
$
188.5



 
Condensed Consolidating Statements of Earnings and Comprehensive Earnings
 
Three months ended June 30, 2013
 
 
 
Guarantor
 
Non-guarantor
 
 
 
 
 
FIS
 
subsidiaries
 
subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Processing and services revenues
$

 
$
1,180.8

 
$
332.0

 
$

 
$
1,512.8

Operating expenses
56.6

 
876.0

 
331.5

 

 
1,264.1

Operating income
(56.6
)
 
304.8

 
0.5

 

 
248.7

Other income (expense):
 
 
 
 
 
 
 
 
 
Interest expense, net
(48.1
)
 
(0.4
)
 
(0.9
)
 

 
(49.4
)
Other income (expense)
(63.8
)
 
3.1

 
(1.2
)
 

 
(61.9
)
Net earnings (loss) of equity affiliates
213.7

 

 

 
(213.7
)
 

Total other income (expense)
101.8

 
2.7

 
(2.1
)
 
(213.7
)
 
(111.3
)
Earnings (loss) from continuing operations before income taxes
45.2

 
307.5

 
(1.6
)
 
(213.7
)
 
137.4

Provision (benefit) for income taxes
(51.0
)
 
92.9

 
(0.7
)
 

 
41.2

Net earnings (loss) from continuing operations
96.2

 
214.6

 
(0.9
)
 
(213.7
)
 
96.2

Earnings (loss) from discontinued operations, net of tax
12.8

 

 
(3.9
)
 
3.9

 
12.8

Net earnings (loss)
109.0

 
214.6

 
(4.8
)
 
(209.8
)
 
109.0

Net (earnings) loss attributable to noncontrolling interest
(4.2
)
 
0.1

 
(4.3
)
 
4.2

 
(4.2
)
Net earnings (loss) attributable to FIS common stockholders
$
104.8

 
$
214.7

 
$
(9.1
)
 
$
(205.6
)
 
$
104.8

Comprehensive earnings (loss) attributable to FIS
$
73.5

 
$
216.1

 
$
(44.6
)
 
$
(171.5
)
 
$
73.5







 
Condensed Consolidating Statements of Earnings and Comprehensive Earnings
 
Six months ended June 30, 2014
 
 
 
Guarantor
 
Non-guarantor
 
 
 
 
 
FIS
 
subsidiaries
 
subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Processing and services revenues
$

 
$
2,395.7

 
$
723.7

 
$

 
$
3,119.4

Operating expenses
100.9

 
1,818.1

 
604.6

 

 
2,523.6

Operating income
(100.9
)
 
577.6

 
119.1

 

 
595.8

Other income (expense):
 
 
 
 
 
 
 
 
 
Interest expense, net
(86.2
)
 
(1.0
)
 
4.2

 

 
(83.0
)
Other income (expense)
0.4

 
(2.4
)
 
0.3

 

 
(1.7
)
Net earnings (loss) of equity affiliates
477.8

 

 

 
(477.8
)
 

Total other income (expense)
392.0

 
(3.4
)
 
4.5

 
(477.8
)
 
(84.7
)
Earnings (loss) from continuing operations before income taxes
291.1

 
574.2

 
123.6

 
(477.8
)
 
511.1

Provision (benefit) for income taxes
(58.4
)
 
179.7

 
40.3

 

 
161.6

Net earnings (loss) from continuing operations
349.5

 
394.5

 
83.3

 
(477.8
)
 
349.5

Earnings (loss) from discontinued operations, net of tax
(3.1
)
 

 
(3.1
)
 
3.1

 
(3.1
)
Net earnings (loss)
346.4

 
394.5

 
80.2

 
(474.7
)
 
346.4

Net (earnings) loss attributable to noncontrolling interest
(13.1
)
 
(0.1
)
 
(13.0
)
 
13.1

 
(13.1
)
Net earnings (loss) attributable to FIS common stockholders
$
333.3

 
$
394.4

 
$
67.2

 
$
(461.6
)
 
$
333.3

Comprehensive earnings (loss) attributable to FIS
$
356.1

 
$
393.8

 
$
89.8

 
$
(483.6
)
 
$
356.1


 
Condensed Consolidating Statements of Earnings and Comprehensive Earnings
 
Six months ended June 30, 2013
 
 
 
Guarantor
 
Non-guarantor
 
 
 
 
 
FIS
 
subsidiaries
 
subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Processing and services revenues
$

 
$
2,340.2

 
$
649.9

 
$

 
$
2,990.1

Operating expenses
118.1

 
1,742.4

 
605.1

 

 
2,465.6

Operating income
(118.1
)
 
597.8

 
44.8

 

 
524.5

Other income (expense):
 
 
 
 
 
 
 
 
 
Interest expense, net
(98.3
)
 
(0.8
)
 
(2.0
)
 

 
(101.1
)
Other income (expense)
(54.2
)
 
3.2

 
(5.8
)
 

 
(56.8
)
Net earnings (loss) of equity affiliates
436.5

 

 

 
(436.5
)
 

Total other income (expense)
284.0

 
2.4

 
(7.8
)
 
(436.5
)
 
(157.9
)
Earnings (loss) from continuing operations before income taxes
165.9

 
600.2

 
37.0

 
(436.5
)
 
366.6

Provision (benefit) for income taxes
(84.1
)
 
187.8

 
12.9

 

 
116.6

Net earnings (loss) from continuing operations
250.0

 
412.4

 
24.1

 
(436.5
)
 
250.0

Earnings (loss) from discontinued operations, net of tax
8.4

 
0.1

 
(8.4
)
 
8.3

 
8.4

Net earnings (loss)
258.4

 
412.5

 
15.7

 
(428.2
)
 
258.4

Net (earnings) loss attributable to noncontrolling interest
(9.5
)
 
0.3

 
(9.8
)
 
9.5

 
(9.5
)
Net earnings (loss) attributable to FIS common stockholders
$
248.9

 
$
412.8

 
$
5.9

 
$
(418.7
)
 
$
248.9

Comprehensive earnings (loss) attributable to FIS
$
208.6

 
$
414.5

 
$
(38.2
)
 
$
(376.3
)
 
$
208.6




 
Condensed Consolidating Statements of Cash Flows
 
Six months ended June 30, 2014
 
 
 
Guarantor
 
Non-guarantor
 
 
 
 
 
FIS
 
subsidiaries
 
subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Cash flows from operating activities
$
(85.2
)
 
$
521.3

 
$
59.7

 
$
(16.7
)
 
$
479.1

Cash flows from investing activities
(1.4
)
 
(119.9
)
 
(85.0
)
 

 
(206.3
)
Cash flows from financing activities
95.1

 
(309.3
)
 
158.2

 
16.7

 
(39.3
)
Effect of foreign currency exchange rates on cash

 

 
12.7

 

 
12.7

Net increase (decrease) in cash
$
8.5

 
$
92.1

 
$
145.6

 
$

 
$
246.2



 
Condensed Consolidating Statements of Cash Flows
 
Six months ended June 30, 2013
 
 
 
Guarantor
 
Non-guarantor
 
 
 
 
 
FIS
 
subsidiaries
 
subsidiaries
 
Eliminations
 
Consolidated
 
(in millions)
Cash flows from operating activities
$
(83.3
)
 
$
451.5

 
$
(6.9
)
 
$
3.5

 
$
364.8

Cash flows from investing activities
(33.7
)
 
(121.6
)
 
(127.8
)
 

 
(283.1
)
Cash flows from financing activities
111.5

 
(349.8
)
 
317.3

 
(3.5
)
 
75.5

Effect of foreign currency exchange rates on cash

 

 
(21.7
)
 

 
(21.7
)
Net increase (decrease) in cash
$
(5.5
)
 
$
(19.9
)
 
$
160.9

 
$

 
$
135.5