10-Q Filing

FISERV INC CIK: 798354 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0000798354-19-000009`
Period End Date	20190331
Filing Date	20190501
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	fisv-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 40 Cash Flow Statement 66 Comprehensive Income 12

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$382.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$452.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$415.00M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$325.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$1.04B	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$1.05B	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$760.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$779.00M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.27B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.22B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.80B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.80B	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$409.00M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	791.40M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$398.00M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	791.40M	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	398.90M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.14B	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	399.10M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.12B	USD	Point-in-time
Goodwill	`Goodwill`	$5.70B	USD	Point-in-time
Goodwill	`Goodwill`	$5.70B	USD	Point-in-time
Contract costs, net	`CapitalizedContractCostNet`	$419.00M	USD	Point-in-time
Contract costs, net	`CapitalizedContractCostNet`	$435.00M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$737.00M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$376.00M	USD	Point-in-time
Total assets	`Assets`	$11.26B	USD	Point-in-time
Total assets	`Assets`	$11.68B	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.72B	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.63B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$4.00M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$7.00M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$395.00M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$380.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.12B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.01B	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$5.87B	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$5.96B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$745.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$745.00M	USD	Point-in-time
Long-term contract liabilities	`ContractWithCustomerLiabilityNoncurrent`	$89.00M	USD	Point-in-time
Long-term contract liabilities	`ContractWithCustomerLiabilityNoncurrent`	$103.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$446.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$170.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.28B	USD	Point-in-time
Total liabilities	`Liabilities`	$8.97B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, no par value: 25.0 million shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value: 25.0 million shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value: 1,800.0 million shares authorized; 791.4 million shares issued	`CommonStockValue`	$8.00M	USD	Point-in-time
Common stock, $0.01 par value: 1,800.0 million shares authorized; 791.4 million shares issued	`CommonStockValue`	$8.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.03B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.06B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-67.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-85.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.63B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.86B	USD	Point-in-time
Treasury stock, at cost, 399.1 million and 398.9 million shares	`TreasuryStockValue`	$10.34B	USD	Point-in-time
Treasury stock, at cost, 399.1 million and 398.9 million shares	`TreasuryStockValue`	$10.42B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.73B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.39B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.97B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.29B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$11.26B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$11.68B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Processing and services	`SalesRevenueServicesNet`	$1.29B	USD	1 Quarter
Processing and services	`SalesRevenueServicesNet`	$1.24B	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$202.00M	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$209.00M	USD	1 Quarter
Total revenue	`Revenues`	$1.50B	USD	1 Quarter
Total revenue	`Revenues`	$1.44B	USD	1 Quarter
Cost of processing and services	`CostOfServices`	$624.00M	USD	1 Quarter
Cost of processing and services	`CostOfServices`	$568.00M	USD	1 Quarter
Cost of product	`CostOfGoodsSold`	$174.00M	USD	1 Quarter
Cost of product	`CostOfGoodsSold`	$191.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$341.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$305.00M	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	$10.00M	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	$232.00M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$1.13B	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$832.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$608.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$373.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$45.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$59.00M	USD	1 Quarter
Debt financing activities	`DebtRelatedCommitmentFeesAndDebtIssuanceCosts`	$59.00M	USD	1 Quarter
Debt financing activities	`DebtRelatedCommitmentFeesAndDebtIssuanceCosts`	-	USD	1 Quarter
Non-operating income	`NonoperatingIncomeExpense`	$3.00M	USD	1 Quarter
Non-operating income	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Income before income taxes and loss from investments in unconsolidated affiliates	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$258.00M	USD	1 Quarter
Income before income taxes and loss from investments in unconsolidated affiliates	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$563.00M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$31.00M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$140.00M	USD	1 Quarter
Loss from investments in unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Loss from investments in unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$-2.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$423.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$225.00M	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$1.02	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$0.58	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.56	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.00	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	391.70M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	413.10M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	399.10M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	421.60M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$423.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$225.00M	USD	1 Quarter
Depreciation and other amortization	`OtherDepreciationAndAmortization`	$100.00M	USD	1 Quarter
Depreciation and other amortization	`OtherDepreciationAndAmortization`	$93.00M	USD	1 Quarter
Amortization of acquisition-related intangible assets	`AmortizationofAcquisitionRelatedIntangibleAssets`	$45.00M	USD	1 Quarter
Amortization of acquisition-related intangible assets	`AmortizationofAcquisitionRelatedIntangibleAssets`	$40.00M	USD	1 Quarter
Amortization of financing costs and debt discounts	`AmortizationOfFinancingCostsAndDiscounts`	$1.00M	USD	1 Quarter
Amortization of financing costs and debt discounts	`AmortizationOfFinancingCostsAndDiscounts`	$60.00M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$19.00M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$19.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$77.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$8.00M	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	$10.00M	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	$232.00M	USD	1 Quarter
Loss from investments in unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Loss from investments in unconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$-2.00M	USD	1 Quarter
Other operating activities	`OtherOperatingActivitiesCashFlowStatement`	$-2.00M	USD	1 Quarter
Other operating activities	`OtherOperatingActivitiesCashFlowStatement`	-	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-67.00M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$26.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$44.00M	USD	1 Quarter
Contract costs	`IncreaseDecreaseInContractWithCustomerAsset`	$58.00M	USD	1 Quarter
Contract costs	`IncreaseDecreaseInContractWithCustomerAsset`	$50.00M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$38.00M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-26.00M	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseInDeferredRevenue`	$-60.00M	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseInDeferredRevenue`	$30.00M	USD	1 Quarter
Net cash provided by operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$372.00M	USD	1 Quarter
Net cash provided by operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$373.00M	USD	1 Quarter
Capital expenditures, including capitalization of software costs	`PaymentsToAcquirePropertyPlantAndEquipment`	$77.00M	USD	1 Quarter
Capital expenditures, including capitalization of software costs	`PaymentsToAcquirePropertyPlantAndEquipment`	$98.00M	USD	1 Quarter
Proceeds from sale of business	`ProceedsFromDivestitureOfBusinesses`	$419.00M	USD	1 Quarter
Proceeds from sale of business	`ProceedsFromDivestitureOfBusinesses`	-	USD	1 Quarter
Payments for acquisition of business, including working capital adjustments	`PaymentsToAcquireBusinessesGross`	-	USD	1 Quarter
Payments for acquisition of business, including working capital adjustments	`PaymentsToAcquireBusinessesGross`	$-56.00M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$1.00M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-6.00M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$10.00M	USD	1 Quarter
Net cash (used in) provided by investing activities from continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-36.00M	USD	1 Quarter
Net cash (used in) provided by investing activities from continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$331.00M	USD	1 Quarter
Debt proceeds	`ProceedsFromIssuanceOfLongTermDebt`	$509.00M	USD	1 Quarter
Debt proceeds	`ProceedsFromIssuanceOfLongTermDebt`	$587.00M	USD	1 Quarter
Debt repayments	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$806.00M	USD	1 Quarter
Debt repayments	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$680.00M	USD	1 Quarter
Payments of debt financing, redemption and other costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Payments of debt financing, redemption and other costs	`PaymentsOfFinancingCosts`	$56.00M	USD	1 Quarter
Proceeds from issuance of treasury stock	`ProceedsFromIssuanceOrSaleOfEquity`	$28.00M	USD	1 Quarter
Proceeds from issuance of treasury stock	`ProceedsFromIssuanceOrSaleOfEquity`	$32.00M	USD	1 Quarter
Purchases of treasury stock, including employee shares withheld for tax obligations	`PaymentsForRepurchaseOfCommonStockAndPaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$427.00M	USD	1 Quarter
Purchases of treasury stock, including employee shares withheld for tax obligations	`PaymentsForRepurchaseOfCommonStockAndPaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$183.00M	USD	1 Quarter
Net cash used in financing activities from continuing operations	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-300.00M	USD	1 Quarter
Net cash used in financing activities from continuing operations	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-696.00M	USD	1 Quarter
Net change in cash and cash equivalents from continuing operations	`NetCashProvidedByUsedInContinuingOperations`	$37.00M	USD	1 Quarter
Net change in cash and cash equivalents from continuing operations	`NetCashProvidedByUsedInContinuingOperations`	$7.00M	USD	1 Quarter
Net cash flows from discontinued operations provided by investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Net cash flows from discontinued operations provided by investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$50.00M	USD	1 Quarter
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$382.00M	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$452.00M	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$415.00M	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$325.00M	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$382.00M	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$452.00M	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$415.00M	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$325.00M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$423.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$225.00M	USD	1 Quarter
Income tax benefit on fair market value adjustment on cash flow hedges	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	-	USD	1 Quarter
Income tax benefit on fair market value adjustment on cash flow hedges	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$-8.00M	USD	1 Quarter
Fair market value adjustment on cash flow hedges, net of income tax benefit of $8 million and zero	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-1.00M	USD	1 Quarter
Fair market value adjustment on cash flow hedges, net of income tax benefit of $8 million and zero	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-23.00M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.00M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	-	USD	1 Quarter
Total other comprehensive (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-2.00M	USD	1 Quarter
Total other comprehensive (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-18.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$207.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$421.00M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.