AI English summary of an SEC filing — figures as filed
Fidelity National Information Services FISFIS said it sold a 55% stake in its Worldpay Merchant Solutions business to funds managed by GTCR on January 31, 2024, in a transaction valuing the business at an enterprise value of $18.5 billion, including $1.0 billion of contingent consideration. It said net cash proceeds of more than $12 billion were received at closing.
Key points
AI summaryFIS said it sold a 55% stake in its Worldpay Merchant Solutions business to funds managed by GTCR on January 31, 2024, in a transaction valuing the business at an enterprise value of $18.5 billion, including $1.0 billion of contingent consideration. It said net cash proceeds of more than $12 billion were received at closing.
The company said it recorded an estimated loss on the Worldpay Sale of $491 million and a tax benefit of $991 million over the 9 months ended September 30, 2024. The tax benefit is net of the estimated U.S. tax cost, after the write-off of U.S. deferred tax liabilities that were not transferred.
The company said that for the quarter ended September 30, 2024 Q3, Banking segment revenue rose 3%, Capital Markets segment revenue rose 8%, and Corporate and Other segment revenue fell 27% due to the reduction of non-core businesses.
The company said it had available liquidity of $5.7 billion and total debt of $10.9 billion as of September 30, 2024. It also said it plans to repurchase about $4.0 billion of its common stock during 2024, and that $3.0 billion of this amount was repurchased in the first 9 months.
Key figures
Quarter ended September 30, 2024
- Revenue
- $2.6B
- Operating income
- $490M
- Net income
- $224M
- EPS
- $0.41
- Gross profit
- $977M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
FIS Completes Worldpay Sale and Receives Net Cash Proceeds
FIS said it sold a 55% stake in its Worldpay Merchant Solutions business to funds managed by GTCR on January 31, 2024, in a transaction valuing the business at an enterprise value of $18.5 billion, including $1.0 billion of contingent consideration. It said net cash proceeds of more than $12 billion were received at closing.
Source · Based on the MD&A text of the filing
Worldpay Sale Loss and Tax Effects
The company said it recorded an estimated loss on the Worldpay Sale of $491 million and a tax benefit of $991 million over the 9 months ended September 30, 2024. The tax benefit is net of the estimated U.S. tax cost, after the write-off of U.S. deferred tax liabilities that were not transferred.
Source · Based on the MD&A text of the filing
Segment Revenue Changes for Q3
The company said that for the quarter ended September 30, 2024 Q3, Banking segment revenue rose 3%, Capital Markets segment revenue rose 8%, and Corporate and Other segment revenue fell 27% due to the reduction of non-core businesses.
Source · Based on the MD&A text of the filing
Liquidity and Shareholder Return Plans
The company said it had available liquidity of $5.7 billion and total debt of $10.9 billion as of September 30, 2024. It also said it plans to repurchase about $4.0 billion of its common stock during 2024, and that $3.0 billion of this amount was repurchased in the first 9 months.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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