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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue $ 4,873 $ 4,518 $ 14,176 $ 13,106
Selling, general and administrative 1,652 1,547 4,952 4,560
Net (gain) loss on sale of businesses and other assets (176) 120 (172) (27)
Total expenses 3,370 3,663 10,608 10,545
Operating income 1,503 855 3,568 2,561
Interest expense, net (258) (190) (692) (534)
Other expense, net (35) (13) (81) (83)
Income before income taxes and (loss) income from investments in unconsolidated affiliates 1,210 652 2,795 1,944
Income tax provision (239) (147) (544) (382)
(Loss) income from investments in unconsolidated affiliates (2) (12) (11) 222
Net income 969 493 2,240 1,784
Less: net income attributable to noncontrolling interests and redeemable noncontrolling interests 17 12 42 36
Net income attributable to Fiserv, Inc. $ 952 $ 481 $ 2,198 $ 1,748
Net income attributable to Fiserv, Inc. per share:        
Basic (in dollars per share) $ 1.57 $ 0.75 $ 3.57 $ 2.71
Diluted (in dollars per share) $ 1.56 $ 0.75 $ 3.54 $ 2.68
Shares used in computing net income attributable to Fiserv, Inc. per share:        
Basic (in shares) 606.2 639.6 616.2 645.2
Diluted (in shares) 610.3 645.0 620.3 651.0
Processing and services        
Revenue [1] $ 4,008 $ 3,678 $ 11,605 $ 10,738
Cost of goods sold and services 1,311 1,443 4,067 4,381
Product        
Revenue 865 840 2,571 2,368
Cost of goods sold and services $ 583 $ 553 $ 1,761 $ 1,631
[1] Includes processing and other fees charged to related party investments accounted for under the equity method of $45 million and $51 million for the three months ended September 30, 2023 and 2022, respectively, and $136 million and $151 million for the nine months ended September 30, 2023 and 2022, respectively (see Note 19).