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FIS — Nov 5, 2025 release

Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001136893-25-000125
Open on SEC.gov ↗
Showing in the filing
Transactions closing
“first quarter of 2026”
Period
Q1 FY2026
Measure
Company-defined measure
Source
Prose
All guidance in this release · 14
Issuer Solutions acquisition closing for FY2026
“1Q 2026”
Share repurchase goal for FY2025
“approximately $1.3 billion”
Share repurchases for FY2025
“approximately $1.3 billion”
Dividend per share growth for the long term
“targeting dividend per share growth in line with Adjusted EPS growth”
Dividend per share growth
“targeting dividend per share growth in line with Adjusted EPS growth”
Adjusted EPS growth for FY2025
“10% to 11%”
Adjusted free cash flow conversion for FY2025
“greater than 85%”
Revenue for FY2025
“$10,595 - $10,625”
Adjusted EBITDA (Non-GAAP) for FY2025
“$4,330 - $4,345”
Adjusted EPS (Non-GAAP) for FY2025
“$5.74 - $5.78”
New debt to fund Issuer Solutions Acquisition for Q1 FY2026
“approximately $8 billion”
Pro forma gross leverage
“approximately 3.4x”
Target gross leverage
“2.8x”
Transactions closing for Q1 FY2026
“first quarter of 2026”
Exhibit 99.1 · full document
Exhibit 99.1 News Release FIS Reports Strong Third Quarter 2025 Results and Raises Full-Year Outlook • Third quarter GAAP Diluted EPS of $0.50 • Adjusted EPS of $1.51 increased 8% over the prior-year period • Revenue increased 6% on a GAAP basis and 6% on an adjusted basis to $2.7 billion • Net cash provided by operating activities was $1.0 billion; Free cash flow increased 101% and Adjusted free cash flow increased 75% over the prior-year period • Raises full-year 2025 outlook for Revenue, Adjusted EBITDA and Adjusted free cash flow conversion 1 • Issuer Solutions acquisition now expected to close in 1Q 2026 JACKSONVILLE, Fla., November 5, 2025 - FIS ® (NYSE:FIS), a global leader in financial technology, today reported its third quarter 2025 results. “We delivered strong results this quarter with disciplined execution driving outperformance against all of our financial commitments,” said FIS CEO and President Stephanie Ferris. “Our differentiated positioning within a favorable market environment is translating into strong sales performance across all segments of our business. We continue to enhance our product suite through our build, buy, partner strategy with the recent acquisition of Amount, and are delivering greater value to our clients through our operational excellence initiatives.” Third Quarter 2025 Financial Results On a GAAP basis, revenue increased 6% as compared to the prior-year period to approximately $2.7 billion. GAAP net earnings attributable to common stockholders from continuing operations were $264 million or $0.50 per diluted share. On an adjusted basis, revenue increased 6% as compared to the prior-year period reflecting recurring revenue growth of 6%. Adjusted EBITDA increased 7% to approximately $1.1 billion, and Adjusted EBITDA margin expanded by 53 basis points (bps) over the prior-year period to 41.8%, reflecting strong EBITDA growth across both Banking and Capital Markets segments. Adjusted net earnings from continuing operations were $789 million, and Adjusted EPS increased by 8% as compared to the prior-year period to $1.51 per diluted share. ($ millions, except per share data, unaudited) Three Months Ended September 30, % Adjusted Continuing Operations 2025 2024 Change Growth  Banking Solutions Revenue 1,894  1,779  6% 6%  Capital Market Solutions Revenue 783  730  7% 6% Operating Segment Total Revenue $ 2,677  $ 2,509  7% 6%  Corporate and Other Revenue 40  61  (34)% Consolidated FIS Revenue $ 2,717  $ 2,570  6% Adjusted EBITDA $ 1,135  $ 1,060  7% Adjusted EBITDA Margin 41.8  % 41.3  % 53 bps Net Earnings (Loss) (GAAP) $ 264  $ 246  7% Diluted Earnings (Loss) Per Common Share (GAAP) $ 0.50  $ 0.45  11% Adjusted Net Earnings $ 789  $ 765  3% Adjusted EPS $ 1.51  $ 1.40  8% Segment Information • Banking Solutions: Third quarter revenue increased 6% on a GAAP basis and 6% on an adjusted basis as compared to the prior-year period to $1.9 billion, including recurring revenue growth of 6%. Adjusted EBITDA increased 8% to $868 million and Adjusted EBITDA margin expanded by 68 basis points as compared to the prior-year period to 45.8%, reflecting continued cost discipline. • Capital Market Solutions: Third quarter revenue increased by 7% on a GAAP basis and 6% on an adjusted basis as compared to the prior-year period to $783 million, reflecting recurring revenue growth of 8%. Adjusted EBITDA increased 9% to $396 million and Adjusted EBITDA margin expanded by 60 basis points as compared to the prior-year period to 50.5%, reflecting cost management and favorable revenue mix. • Corporate and Other: Third quarter revenue decreased by 34% as compared to the prior-year period to $40 million. Adjusted EBITDA loss was $129 million, including $143 million of corporate expenses. Balance Sheet and Cash Flows As of September 30, 2025, debt outstanding totaled $13.0 billion. Third quarter net cash provided by operating activities was $1.0 billion. Free cash flow was $798 million, up 101%, and adjusted free cash flow was $929 million, an increase of 75% as compared to the prior-year period. In the third quarter, the Company returned $509 million of capital to shareholders through $301 million of share repurchases and $208 million of dividends paid. Year to date, free cash flow was $1.2 billion, up 55%, and adjusted free cash flow was $1.6 billion, an increase of 41% as compared to the prior-year period. Capital Allocation The Company repurchased $301 million of shares in the third quarter and raised its goal to repurchase approximately $1.3 billion of shares in 2025. Additionally, the Company will continue to pay quarterly dividends targeting dividend per share growth in line with Adjusted EPS growth. Full-Year 2025 Outlook For the full-year, the Company is raising its outlook for revenue growth to 5.4% to 5.7% and is reiterating its outlook for Adjusted EPS growth of 10% to 11%. Additionally, the Company is increasing its target for Adjusted free cash flow conversion from 82% to 85%, to greater than 85%. ($ millions, except share data) FY 2025 Revenue $10,595 - $10,625 Adjusted EBITDA (Non-GAAP) 1 $4,330 - $4,345 Adjusted EPS (Non-GAAP) 1 $5.74 - $5.78 1 The Company does not provide a reconciliation for non-GAAP estimates on a forward-looking basis where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. Update on Pending Strategic Transactions On April 17, 2025, FIS entered into definitive agreements to (i) buy the Issuer Solutions business from Global Payments Inc. (“Global Payments”) for an enterprise value of $13.5 billion, inclusive of $1.5 billion of anticipated net present value of tax assets, or a net purchase price of $12.0 billion, subject to customary adjustments (the “Issuer Solutions Acquisition”) and (ii) sell its remaining equity interest in Worldpay to Global Payments for a pre-tax value of $6.6 billion net of transaction fees and other costs (the “Worldpay Minority Interest Sale”). As noted in our July 21, 2025 8-K, the completion of the transaction is conditioned upon (among other things) the expiration or termination of the waiting period applicable to the Transactions under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The HSR waiting period expired as of July 18, 2025. FIS expects to fund the Issuer Solutions Acquisition through a combination of approximately $8 billion of new debt and the after-tax proceeds from the Worldpay Minority Interest Sale. Following the closing of the transactions, the Company expects pro forma gross leverage to be approximately 3.4x, deleveraging to its target gross leverage of 2.8x within 18 months. The transactions are now expected to close simultaneously in the first quarter of 2026, subject to regulatory approvals and other customary closing conditions. Webcast FIS will host a live webcast of its earnings conference call with the investment community beginning at 8:30 a.m. (EST) on Wednesday, November 5, 2025. To access the webcast, go to the Investor Relations section of FIS’ homepage, www.fisglobal.com. A replay will be available after the conclusion of the live webcast. About FIS FIS is a financial technology company providing solutions to financial institutions, businesses and developers. We unlock financial technology to the world across the money lifecycle underpinning the world's financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index. To learn more, visit FISglobal.com. Follow FIS on LinkedIn, Facebook and X. FIS Use of Non-GAAP Financial Information Generally Accepted Accounting Principles (GAAP) is the term used to refer to the standard framework of guidelines for financial accounting in the United States. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions and in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, we have provided certain non-GAAP financial measures. These non-GAAP measures include constant currency revenue, Adjusted revenue growth, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net earnings, Adjusted EPS, Free cash flow and Adjusted free cash flow. These non-GAAP measures may be used in this release and/or in the attached supplemental financial information. We believe these non-GAAP measures help investors better understand the underlying fundamentals of our business. As further described below, the non-GAAP revenue and earnings measures presented eliminate items management believes are not indicative of FIS’ operating performance. The constant currency revenue and Adjusted revenue growth measures adjust for the effects of exchange rate fluctuations and exclude discontinued operations, while Adjusted revenue growth also excludes revenue from Corporate and Other, giving investors further insight into our performance. Finally, Free cash flow and Adjusted free cash flow provide further information about the ability of our business to generate cash. For these reasons, management also uses these non-GAAP measures in its assessment and management of FIS’ performance. Constant currency revenue represents reported segment revenue excluding the impact of fluctuations in foreign currency exchange rates in the current period. Adjusted revenue growth reflects the percentage change in constant currency revenue for the current period as compared to the prior period. Constant currency revenue is calculated by applying prior-year period foreign currency exchange rates to current-period revenue. When referring to Adjusted revenue growth, revenue from our Corporate and Other segment is excluded. Adjusted EBITDA reflects net earnings (loss) before interest, other income (expense), taxes, equity method investment earnings (loss), and depreciation and amortization, and excludes certain costs that do not constitute normal, recurring, cash operating expenses necessary to operate our business. These excluded costs generally include purchase price amortization of acquired intangible assets, as well as acquisition, integration and certain other costs and asset impairments. These excluded costs are recorded in the Corporate and Other segment. Adjusted EBITDA for the respective segments excludes the foregoing items. This measure is reported to the chief operating decision maker, the Company's Chief Executive Officer and President, who utilizes the measure for purposes of making decisions about allocating resources to the segments and assessing their performance. For this reason, Adjusted EBITDA, as it relates to our segments, is presented in conformity with FASB ASC Topic 280, Segment Reporting. Adjusted EBITDA margin reflects Adjusted EBITDA, as defined above, divided by revenue. Adjusted net earnings excludes the effect of purchase price amortization, as well as certain costs that do not constitute normal, recurring, cash operating expenses necessary to operate our business. For purposes of calculating Adjusted net earnings, our equity method investment earnings (loss) ("EMI") from Worldpay is also adjusted to exclude certain costs and other transactions in a similar manner. Adjusted EPS reflects Adjusted net earnings, as defined above, divided by weighted average diluted shares outstanding. Free cash flow reflects net cash provided by operating activities from continuing operations, less capital expenditures (additions to property and equipment and additions to software from the statement of cash flows). Adjusted free cash flow reflects Free cash flow, adjusted for the net change in settlement assets and obligations, and excludes cash payments for certain transactions that do not constitute normal, recurring operating expenses necessary to operate our business and are not indicative of future operating cash flows. Neither Free cash flow nor Adjusted free cash flow represents our residual cash flow available for discretionary expenditures since we have mandatory debt service requirements and other non-discretionary expenditures that are not deducted from the measure. Free cash flow and Adjusted free cash flow as presented in this earnings release exclude cash flow from discontinued operations, which our management cannot freely access following the Worldpay separation. Adjusted free cash flow conversion reflects Adjusted free cash flow, as defined above, divided by Adjusted net earnings, excluding the contribution from our equity method investment earnings (loss) ("EMI") from Worldpay. Any non-GAAP measures should be considered in context with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP measures. Further, FIS’ non-GAAP measures may be calculated differently from similarly titled measures of other companies. Reconciliations of these non-GAAP measures to related GAAP measures, including footnotes describing the adjustments, are provided in the attached schedules and in the Investor Relations section of the FIS website, www.fisglobal.com . Forward-Looking Statements This earnings release and today’s webcast contain “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements that are not historical facts, as well as other statements about our expectations, beliefs, intentions, or strategies regarding the future, or other characterizations of future events or circumstances, are forward-looking statements. Forward-looking statements include statements about anticipated financial outcomes, including any earnings outlook or projections, projected revenue or expense synergies or dis-synergies, business and market conditions, outlook, foreign currency exchange rates, deleveraging plans, expected dividends and share repurchases of the Company, the Company’s sales pipeline and anticipated profitability and growth, plans, strategies and objectives for future operations, strategic value creation, risk profile and investment strategies, any statements regarding future economic conditions or performance and any statements with respect to the future impacts of the pending acquisition of Global Payments' Issuer Solutions business ("Issuer Solutions") and the pending sale of our remaining equity interest in Worldpay. These statements may be identified by words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “will,” “should,” “could,” “would,” “project,” “continue,” “likely,” and similar expressions, and include statements reflecting future results or outlook, statements of outlook and various accruals and estimates. These statements relate to future events and our future results and involve a number of risks and uncertainties. Forward-looking statements are based on management’s beliefs as well as assumptions made by, and information currently available to, management. Actual results, performance or achievement could differ materially from these forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include the following, without limitation: • changes in general economic, business and political conditions, a recession, intensified or expanded international hostilities, acts of terrorism, increased rates of inflation or interest, effects of announced or future tariff increases and any resulting regulatory changes in global trade relations, changes in consumer or business confidence; • changes in either or both the United States and international lending, capital and financial markets or currency fluctuations; • the risk that acquired businesses will not be integrated successfully or that the integration will be more costly or more time-consuming and complex than anticipated; • the risk that cost savings and synergies anticipated to be realized from acquisitions may not be fully realized or may take longer to realize than expected or that costs may be greater than anticipated; • the risks of doing business internationally; • the effect of legislative initiatives or proposals, statutory changes, governmental or applicable regulations and/or changes in industry requirements, including privacy, data protection, cybersecurity, cyber resilience and AI laws and regulations; • our ability to comply with climate change legal and regulatory requirements and to maintain practices that meet our stakeholders' evolving expectations; • the risks of reduction in revenue from the elimination of existing and potential customers due to consolidation in, or new laws or regulations affecting, the banking, retail and financial services industries or due to financial failures or other setbacks suffered by firms in those industries; • changes in the growth rates of the markets for our solutions; • the amount, declaration and payment of future dividends is at the discretion of our Board of Directors and depends on, among other things, our investment opportunities, results of operations, financial condition, cash requirements, future prospects, and other factors that may be considered relevant by our Board of Directors, including legal and contractual restrictions; • the amount and timing of any future share repurchases is subject to, among other things, our share price, our other investment opportunities and cash requirements, our results of operations and financial condition, our future prospects and other factors that may be considered relevant by our Board of Directors and management; • failures to adapt our solutions to changes in technology or in the marketplace; • internal or external security or privacy breaches of our systems, including those relating to unauthorized access, theft, corruption or loss of personal information and computer viruses and other malware affecting our software or platforms, and the reactions of customers, card associations, government regulators and others to any such events; • the risk that implementation of software, including software updates, for customers or at customer locations or employee error in monitoring our software and platforms may result in the corruption or loss of data or customer information, interruption of business operations, outages, exposure to liability claims or loss of customers; • the risk that partners and third parties may fail to satisfy their legal obligations to us; • risks associated with managing pension cost, cybersecurity issues, IT outages and data privacy; • our ability to navigate the opportunities and risks associated with using and/or incorporating AI technologies into our business; • the reaction of current and potential customers to communications from us or regulators regarding information security, risk management, internal audit or other matters; • the risk that the pending acquisition of Issuer Solutions will not be completed or will not provide the expected benefits, including the anticipated cost or revenue synergies, within the expected timeframe, in full or at all; • the risk that the integration of Issuer Solutions will be more difficult, time-consuming or expensive than anticipated; • competitive pressures on pricing related to the decreasing number of community banks in the U.S., the development of new disruptive technologies competing with one or more of our solutions, increasing presence of international competitors in the U.S. market and the entry into the market by global banks and global companies with respect to certain competitive solutions, each of which may have the impact of unbundling individual solutions from a comprehensive suite of solutions we provide to many of our customers; • the failure to innovate in order to keep up with new emerging technologies, which could impact our solutions and our ability to attract new, or retain existing, customers; • an operational or natural disaster at one of our major operations centers; • failure to comply with applicable requirements of payment networks or changes in those requirements; • fraud by bad actors; and • other risks detailed elsewhere in the “Risk Factors” section and other sections of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in our other filings with the Securities and Exchange Commission. Other unknown or unpredictable factors also could have a material adverse effect on our business, financial condition, results of operations and prospects. Accordingly, readers should not place undue reliance on these forward-looking statements. These forward-looking statements are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Except as required by applicable law or regulation, we do not undertake (and expressly disclaim) any obligation and do not intend to publicly update or review any of these forward-looking statements, whether as a result of new information, future events or otherwise. For More Information Ellyn Raftery, 904.438.6083   George Mihalos, 904.438.6438 Chief Marketing & Communications Officer   Senior Vice President FIS Global Marketing & Corporate Communications   FIS Investor Relations Ellyn.Raftery@fisglobal.com   Georgios.Mihalos@fisglobal.com Fidelity National Information Services, Inc. Earnings Release Supplemental Financial Information November 5, 2025 Exhibit A    Condensed Consolidated Statements of Earnings (Loss) - Unaudited for the three and nine months ended September 30, 2025 and 2024 Exhibit B    Condensed Consolidated Balance Sheets - Unaudited as of September 30, 2025, and December 31, 2024 Exhibit C    Condensed Consolidated Statements of Cash Flows - Unaudited for the nine months ended September 30, 2025 and 2024 Exhibit D    Supplemental Non-GAAP Adjusted Revenue Growth - Unaudited for the three and nine months ended September 30, 2025 and 2024 Exhibit E    Supplemental Disaggregation of Revenue - Recast and Unaudited for the three and nine months ended September 30, 2025 and 2024 Exhibit F    Supplemental Non-GAAP Adjusted Free Cash Flow Measures - Unaudited for the three and nine months ended September 30, 2025 and 2024 Exhibit G    Supplemental GAAP to Non-GAAP Reconciliations - Unaudited for the three and nine months ended September 30, 2025 and 2024 Exhibit H    Supplemental Financial Information of Worldpay Holdco, LLC - Unaudited for the three months ended September 30, 2025 and 2024, nine months ended September 30, 2025, and eight months ended September 30, 2024 FIDELITY NATIONAL INFORMATION SERVICES, INC. CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)— UNAUDITED (In millions, except per share amounts) Exhibit A Three months ended September 30, Nine months ended September 30, 2025 2024 2025 2024 Revenue $ 2,717  $ 2,570  $ 7,865  $ 7,528  Cost of revenue 1,689  1,593  5,006  4,700  Gross profit 1,028  977  2,859  2,828  Selling, general, and administrative expenses 584  521  1,713  1,703  Asset impairments 2  2  4  20  Other operating (income) expense, net - related party (15) (36) (70) (110) Operating income 457  490  1,212  1,215  Other income (expense):     Interest expense, net (90) (64) (279) (184) Other income (expense), net 8  (38) (188) (222) Total other income (expense), net (82) (102) (467) (406) Earnings (loss) before income taxes and equity method investment earnings (loss) 375  388  745  809  Provision (benefit) for income taxes 87  108  179  215  Equity method investment earnings (loss), net of tax (23) (33) (692) (110) Net earnings (loss) from continuing operations 265  247  (126) 484  Earnings (loss) from discontinued operations, net of tax —  (22) —  687  Net earnings (loss) 265  225  (126) 1,171  Net (earnings) loss attributable to noncontrolling interest from continuing operations (1) (1) (2) (2) Net earnings (loss) attributable to FIS $ 264  $ 224  $ (128) $ 1,169  Net earnings (loss) attributable to FIS: Continuing operations $ 264  $ 246  $ (128) $ 482  Discontinued operations —  (22) —  687  Total $ 264  $ 224  $ (128) $ 1,169  Basic earnings (loss) per common share attributable to FIS: Continuing operations $ 0.51  $ 0.45  $ (0.24) $ 0.86  Discontinued operations —  (0.04) —  1.23  Total $ 0.51  $ 0.41  $ (0.24) $ 2.09  Diluted earnings (loss) per common share attributable to FIS: Continuing operations $ 0.50  $ 0.45  $ (0.24) $ 0.86  Discontinued operations —  (0.04) —  1.22  Total $ 0.50  $ 0.41  $ (0.24) $ 2.08  Weighted average common shares outstanding: Basic 521  545  525  558  Diluted 523  548  525  561  Amounts in table may not sum or calculate due to rounding. 1 FIDELITY NATIONAL INFORMATION SERVICES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS — UNAUDITED (In millions, except per share amounts) Exhibit B September 30, 2025 December 31, 2024 ASSETS       Current assets:       Cash and cash equivalents $ 571  $ 834  Settlement assets 493  479  Trade receivables, net 1,888  1,876  Other receivables 97  160  Receivable from related party 33  84  Prepaid expenses and other current assets 890  638  Current assets held for sale —  1,115  Total current assets 3,972    5,186  Property and equipment, net 709  646  Goodwill 17,823  17,260  Intangible assets, net 1,090  1,318  Software, net 2,725  2,526  Equity method investment 3,759  3,858  Other noncurrent assets 1,690  1,749  Deferred contract costs, net 1,274  1,241  Total assets $ 33,042    $ 33,784          LIABILITIES AND EQUITY       Current liabilities:       Accounts payable, accrued and other liabilities $ 1,988  $ 1,994  Settlement payables 517  500  Deferred revenue 866  902  Short-term borrowings 2,075  636  Current portion of long-term debt 2,026  968  Current liabilities held for sale —  1,094  Total current liabilities 7,472    6,094  Long-term debt, excluding current portion 8,900  9,686  Deferred income taxes 1,223  863  Other noncurrent liabilities 1,585  1,441  Total liabilities 19,180    18,084  Equity:       FIS stockholders' equity:       Preferred stock $0.01 par value —  —  Common stock $0.01 par value 6  6  Additional paid in capital 47,272  47,129  (Accumulated deficit) retained earnings (23,022) (22,257) Accumulated other comprehensive earnings (loss) (492) (364) Treasury stock, at cost (9,905) (8,816) Total FIS stockholders' equity 13,859    15,698  Noncontrolling interest 3  2  Total equity 13,862    15,700  Total liabilities and equity $ 33,042    $ 33,784  Amounts in table may not sum or calculate due to rounding. 2 FIDELITY NATIONAL INFORMATION SERVICES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS — UNAUDITED (In millions)       Exhibit C Nine months ended September 30, 2025 2024 Cash flows from operating activities from continuing operations:       Net earnings (loss) $ (126) $ 1,171  Less earnings (loss) from discontinued operations, net of tax —  687  Net earnings (loss) from continuing operations (126) 484  Adjustment to reconcile net earnings (loss) from continuing operations to net cash provided by operating activities:       Depreciation and amortization 1,415  1,291  Amortization of debt issuance costs 33  16  Asset impairments 4  20  Loss on extinguishment of debt —  174  Loss (gain) on sale of businesses, investments and other 97  77  Stock-based compensation 136    142  Loss from equity method investment 692  110  Deferred income taxes (71)   (200) Net changes in assets and liabilities, net of effects from acquisitions and foreign currency:       Trade and other receivables 59  (23) Receivable from related party 50  (88) Settlement activity 4  (3) Prepaid expenses and other assets (1) (129) Deferred contract costs (304) (348) Deferred revenue (37) (41) Accounts payable, accrued liabilities and other liabilities (101) (89) Net cash provided by operating activities from continuing operations 1,850    1,393  Cash flows from investing activities from continuing operations:       Additions to property and equipment (135) (79) Additions to software (530) (550) Settlement of net investment hedge cross-currency interest rate swaps —  (8) Net proceeds from sale of businesses and investments —  12,801  Cash divested from sale of business (1,417) (3,137) Acquisitions, net of cash acquired (574) (56) Coupon payments on interest rate swaps (87) (98) Distributions from equity method investments 107  40  Other investing activities, net (66) (70) Net cash provided by (used in) investing activities from continuing operations (2,702) 8,843  Cash flows from financing activities from continuing operations: Borrowings 38,159  15,776  Repayment of borrowings and other financing arrangements (37,155) (24,183) Debt issuance costs (27) (6) Net proceeds from stock issued under stock-based compensation plans 8  2  Treasury stock activity (1,132) (3,032) Dividends paid (640) (608) Other financing activities, net 1  45  Net cash provided by (used in) financing activities from continuing operations (786) (12,006) Cash flows from discontinued operations: Net cash provided by (used in) operating activities 208  (5) Net cash provided by (used in) investing activities —  (39) Net cash provided by (used in) financing activities —  (65) Net cash provided by (used in) discontinued operations 208  (109) Effect of foreign currency exchange rate changes on cash from continuing operations 55  20  Effect of foreign currency exchange rate changes on cash from discontinued operations —  (30) Net increase (decrease) in cash, cash equivalents and restricted cash (1,375)   (1,889) Cash, cash equivalents and restricted cash, beginning of period 1,946    4,414  Cash, cash equivalents and restricted cash, end of period $ 571    $ 2,525  3 FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL NON-GAAP ADJUSTED REVENUE GROWTH — UNAUDITED (In millions) Exhibit D Three months ended September 30,   2025 2024 Constant Currency Adjusted Revenue FX Revenue Revenue Growth (1) Banking Solutions $ 1,894  $ (3) $ 1,890  $ 1,779  6  % Capital Market Solutions 783  (7) 777  730  6  % Operating segment total 2,677  (10) 2,667  2,509  6  % Corporate and Other 40  (1) 39  61  Consolidated FIS $ 2,717  $ (11) $ 2,706  $ 2,570  Nine months ended September 30, 2025 2024 Constant Currency Adjusted Revenue FX Revenue Revenue Growth (1) Banking Solutions $ 5,420  $ 1  $ 5,420  $ 5,174  5  % Capital Market Solutions 2,313  (13) 2,300  2,158  7  % Operating segment total 7,733  (12) 7,721  7,332  5  % Corporate and Other 132  1  133  196  Consolidated FIS $ 7,865  $ (11) $ 7,854  $ 7,528  Amounts in table may not sum or calculate due to rounding. (1) Adjusted growth excludes Corporate and Other. The Corporate and Other segment includes certain non-strategic businesses that we plan to wind down or sell. 4 FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL DISAGGREGATION OF REVENUE — RECAST AND UNAUDITED (In millions) Exhibit E In the following tables, revenue is disaggregated by primary geographical market and type of revenue. The tables also include a reconciliation of the disaggregated revenue with the Company's reportable segments. For the three months ended September 30, 2025 (in millions): Banking Solutions Capital Market Solutions Corporate and Other Total Primary Geographical Markets: North America $ 1,625  $ 481  $ 19  $ 2,125  All others 269  302  21  592  Total $ 1,894  $ 783  $ 40  $ 2,717  Type of Revenue: Recurring revenue: Transaction processing and services $ 1,394  $ 401  $ 35  $ 1,830  Software maintenance 97  154  1  252  Other recurring 80  27  —  107  Total recurring 1,571  582  36  2,189  Software license 44  95  —  139  Professional services 146  95  1  242  Other non-recurring 133  11  3  147  Total $ 1,894  $ 783  $ 40  $ 2,717  For the three months ended September 30, 2024 (in millions): Banking Solutions Capital Market Solutions Corporate and Other Total Primary Geographical Markets: North America $ 1,521  $ 452  $ 26  $ 1,999  All others 258  278  35  571  Total $ 1,779  $ 730  $ 61  $ 2,570  Type of Revenue: Recurring revenue: Transaction processing and services (1) $ 1,331  $ 375  $ 49  $ 1,755  Software maintenance 88  145  1  234  Other recurring (1) 60  16  1  77  Total recurring 1,479  536  51  2,066  Software license 54  92  1  147  Professional services 137  100  1  238  Other non-recurring 109  2  8  119  Total $ 1,779  $ 730  $ 61  $ 2,570  (1) Revenue related primarily to software licenses requiring frequent, integral updates has been classified as Transaction processing and services revenue commencing in the quarter ended December 31, 2024, and related prior-period amounts have been reclassified from Other recurring revenue to Transaction processing and services for comparability. Revenue reclassified for the three months ended September 30, 2024, was $6 million, $7 million and $9 million within Banking, Capital Markets and Corporate and Other, respectively. Amounts in table may not sum or calculate due to rounding. 5 FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL DISAGGREGATION OF REVENUE — RECAST AND UNAUDITED (In millions) Exhibit E (continued) For the nine months ended September 30, 2025 (in millions): Banking Solutions Capital Market Solutions Corporate and Other Total Primary Geographical Markets: North America $ 4,680  $ 1,409  $ 63  $ 6,152  All others 740  904  69  1,713  Total $ 5,420  $ 2,313  $ 132  $ 7,865  Type of Revenue: Recurring revenue: Transaction processing and services $ 4,035  $ 1,184  $ 113  $ 5,332  Software maintenance 290  451  2  743  Other recurring 223  73  1  297  Total recurring 4,548  1,708  116  6,372  Software license 119  294  —  413  Professional services 399  288  3  690  Other non-recurring 354  23  13  390  Total $ 5,420  $ 2,313  $ 132  $ 7,865  For the nine months ended September 30, 2024 (in millions): Banking Solutions Capital Market Solutions Corporate and Other Total Primary Geographical Markets: North America $ 4,424  $ 1,349  $ 90  $ 5,863  All others 750  809  106  1,665  Total $ 5,174  $ 2,158  $ 196  $ 7,528  Type of Revenue: Recurring revenue: Transaction processing and services (1) $ 3,870  $ 1,126  $ 157  $ 5,153  Software maintenance 268  432  1  701  Other recurring (1) 183  46  3  232  Total recurring 4,321  1,604  161  6,086  Software license 141  256  2  399  Professional services 405  295  3  703  Other non-recurring 307  3  30  340  Total $ 5,174  $ 2,158  $ 196  $ 7,528  (1) Revenue related primarily to software licenses requiring frequent, integral updates has been classified as Transaction processing and services revenue commencing in the quarter ended December 31, 2024, and related prior-period amounts have been reclassified from Other recurring revenue to Transaction processing and services for comparability. Revenue reclassified for the nine months ended September 30, 2024, was $15 million, $22 million and $27 million within Banking, Capital Markets and Corporate and Other, respectively. Amounts in table may not sum or calculate due to rounding. 6 FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL NON-GAAP ADJUSTED FREE CASH FLOW MEASURES — UNAUDITED (In millions) Exhibit F     Three months ended Nine months ended   September 30, 2025 September 30, 2025 Net cash provided by operating activities $ 1,012  $ 1,850  Capital expenditures (214) (665) Free cash flow 798  1,185  Non-GAAP adjustments: Acquisition, integration and other payments (1) 135  408  Settlement activity (4) (4) Adjusted free cash flow $ 929  $ 1,589  Three months ended Nine months ended   September 30, 2024 September 30, 2024 Net cash provided by operating activities $ 641  $ 1,393  Capital expenditures (243) (629) Free cash flow 398  764  Non-GAAP adjustments: Acquisition, integration and other payments (1) 132  362  Settlement activity —  3  Adjusted free cash flow $ 530  $ 1,129  Free cash flow reflects net cash provided by operating activities from continued operations less capital expenditures (additions to property and equipment and additions to software from the statement of cash flows). Adjusted free cash flow reflects Free cash flow, adjusted for the net change in settlement assets and obligations, and excludes cash payments for certain transactions that do not constitute normal, recurring operating expenses necessary to operate our business and are not indicative of future operating cash flows. Neither Free cash flow nor Adjusted free cash flow represents our residual cash flows available for discretionary expenditures, since we have mandatory debt service requirements and other non-discretionary expenditures that are not deducted from the measure. Free cash flow and Adjusted free cash flow as presented in this earnings release exclude cash flows from discontinued operations. (1) Adjusted free cash flow for the three and nine months ended September 30, 2025 and 2024, exclude cash payments for certain acquisition, integration and other costs (see Note 2 to Exhibit G), net of related tax impact. The related tax impact totaled $18 million and $22 million for the three months and $56 million and $61 million for the nine months ended September 30, 2025 and 2024, respectively. 7 FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATIONS — UNAUDITED (In millions, except per share amounts) Exhibit G Three months ended September 30, Nine months ended September 30, 2025 2024 2025 2024 Net earnings (loss) attributable to FIS from continuing operations $ 264  $ 246  $ (128) $ 482  Provision (benefit) for income taxes 87  108  179  215  Interest expense, net 90  64  279  184  Equity method investment (earnings) loss, net of tax 23  33  692  110  Other, net (7) 39  190  224  Operating income (loss), as reported 457  490  1,212  1,215  Depreciation and amortization, excluding purchase accounting amortization 302  263  898  789  Non-GAAP adjustments: Purchase accounting amortization (1) 177  168  517  502  Acquisition, integration and other costs (2) 197  137  503  481  Asset impairments (3) 2  2  4  20  Indirect Worldpay business support costs (4) —  —  —  14  Adjusted EBITDA from continuing operations $ 1,135  $ 1,060  $ 3,134  $ 3,021  Net earnings (loss) attributable to FIS from discontinued operations $ —  $ (22) $ —  $ 687  Provision (benefit) for income taxes —  (3) —  (994) Interest expense, net —  (1) (1) (2) Other, net —  —  (1) 6  Operating income (loss) —  (26) (2) (303) Depreciation and amortization, excluding purchase accounting amortization —  —  —  1  Non-GAAP adjustments: Acquisition, integration and other costs (2) —  —  —  13  Loss on sale of disposal group (10) —  25  —  491  Indirect Worldpay business support costs (4) —  —  —  (14) Adjusted EBITDA from discontinued operations $ —  $ (1) $ (2) $ 188  Adjusted EBITDA $ 1,135  $ 1,059  $ 3,132  $ 3,209  See Notes to Exhibit G. Amounts in table may not sum or calculate due to rounding. 8 FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATIONS — UNAUDITED (In millions, except per share amounts) Exhibit G (continued) Three months ended September 30, Nine months ended September 30, 2025 2024 2025 2024 Earnings (loss) attributable to FIS from continuing operations $ 264  $ 246  $ (128) $ 482  Equity method investment (earnings) loss, net of tax 23  33  692  110  Earnings (loss) attributable to FIS from continuing operations, excluding equity method investment earnings (loss) 287  279  564  592  Non-GAAP adjustments from continuing operations: Purchase accounting amortization (1) 177  168  517  502  Acquisition, integration and other costs (2) 197  137  523  481  Asset impairments (3) 2  2  4  20  Indirect Worldpay business support costs (4) —  —  —  14  Non-operating (income) expense (5) (8) 38  188  222  Non-GAAP tax (provision) benefit (6) (1) 2  (58) (82) Total non-GAAP adjustments from continuing operations 367  347  1,174  1,157  Adjusted net earnings attributable to FIS from continuing operations, excluding equity method investment earnings (loss) 654  626  1,738  1,749  Equity method investment earnings (loss), net of tax (7) (23) (33) (692) (110) Non-GAAP adjustments on equity method investment earnings (loss), net of related (provision) benefit for income taxes (7) (8) 158  172  1,103  504  Adjusted equity method investment earnings (loss) (7) 135  139  411  394  Adjusted net earnings attributable to FIS from continuing operations $ 789  $ 765  $ 2,149  $ 2,143  Earnings (loss) attributable to FIS from discontinued operations, net of tax $ —  $ (22) $ —  $ 687  Non-GAAP adjustments from discontinued operations: Acquisition, integration and other costs (2) —  —  —  13  Loss on sale of disposal group (10) —  25  —  491  Indirect Worldpay business support costs (4) —  —  —  (14) Amortization on long-lived assets held for sale (9) —  —  —  (30) Non-operating (income) expense (5) —  —  —  6  Non-GAAP tax (provision) benefit (6) —  (3) —  (1,017) Total non-GAAP adjustments from discontinued operations —  22  —  (551) Adjusted net earnings attributable to FIS from discontinued operations $ —  $ —  $ —  $ 136  Adjusted net earnings attributable to FIS common stockholders $ 789  $ 765  $ 2,149  $ 2,279  See Notes to Exhibit G. Amounts in table may not sum or calculate due to rounding. 9 FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATIONS — UNAUDITED (In millions, except per share amounts) Exhibit G (continued) Three months ended September 30, Nine months ended September 30, 2025 2024 2025 2024 Earnings (loss) attributable to FIS from continuing operations $ 0.50  $ 0.45  $ (0.24) $ 0.86  Equity method investment (earnings) loss, net of tax 0.04  0.06  1.31  0.20  Earnings (loss) attributable to FIS from continuing operations, excluding equity method investment earnings (loss) 0.55  0.51  1.07  1.06  Non-GAAP adjustments from continuing operations: Purchase accounting amortization (1) 0.34  0.31  0.98  0.89  Acquisition, integration and other costs (2) 0.38  0.25  0.99  0.86  Asset impairments (3) —  —  0.01  0.04  Indirect Worldpay business support costs (4) —  —  —  0.02  Non-operating (income) expense (5) (0.02) 0.07  0.36  0.40  Non-GAAP tax (provision) benefit (6) —  —  (0.11) (0.15) Total non-GAAP adjustments from continuing operations 0.70  0.63  2.23  2.06  Adjusted net earnings attributable to FIS from continuing operations, excluding equity method investment earnings (loss) 1.25  1.14  3.30  3.12  Equity method investment earnings (loss) (7) (0.04) (0.06) (1.31) (0.20) Non-GAAP adjustments on equity method investment earnings (loss), net of related (provision) benefit for income taxes (7) (8) 0.30  0.31  2.09  0.90  Adjusted equity method investment earnings (loss) (7) 0.26  0.25  0.78  0.70  Adjusted net earnings attributable to FIS from continuing operations $ 1.51  $ 1.40  $ 4.08  $ 3.82  Earnings (loss) attributable to FIS from discontinued operations, net of tax $ —  $ (0.04) $ —  $ 1.22  Non-GAAP adjustments from discontinued operations: Acquisition, integration and other costs (2) —  —  —  0.02  Loss on sale of disposal group (10) —  0.05  —  0.88  Indirect Worldpay business support costs (4) —  —  —  (0.02) Amortization on long-lived assets held for sale (9) —  —  —  (0.05) Non-operating (income) expense (5) —  —  —  0.01  Non-GAAP tax (provision) benefit (6) —  (0.01) —  (1.81) Total non-GAAP adjustments from discontinued operations —  0.04  —  (0.98) Adjusted net earnings attributable to FIS from discontinued operations $ —  $ —  $ —  $ 0.24  Adjusted net earnings attributable to FIS common stockholders $ 1.51  $ 1.40  $ 4.08  $ 4.06  Weighted average shares outstanding-diluted (11) 523  548  527  561  See Notes to Exhibit G. Amounts in table may not sum or calculate due to rounding. 10 FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATIONS — UNAUDITED (In millions, except per share amounts) Exhibit G (continued) Notes to Unaudited - Supplemental GAAP to Non-GAAP Reconciliations for the three and nine months ended September 30, 2025 and 2024. (1) This item represents purchase price amortization expense on all intangible assets acquired through various Company acquisitions, including customer relationships, contract value, technology assets, trademarks and trade names. The Company has excluded the impact of purchase price amortization expense as such amounts can be significantly impacted by the timing and/or size of acquisitions. Although the Company excludes these amounts from its non-GAAP expenses, the Company believes that it is important for investors to understand that such intangible assets contribute to revenue generation. Amortization of assets that relate to past acquisitions will recur in future periods until such assets have been fully amortized. Any future acquisitions may result in the amortization of future assets. (2) This item represents costs comprised of the following: Three months ended Nine months ended September 30, September 30, 2025 2024 2025 2024 Continuing operations: Acquisition and integration $ 33  $ 22  $ 84  $ 70  Enterprise transformation, including Future Forward and platform modernization 46  76  102  205  Severance and other termination expenses 99  7  205  34  Separation of the Worldpay Merchant Solutions business 11  9  53  119  Incremental stock compensation directly attributable to specific programs 3  20  27  46  Other, including divestiture-related expenses and enterprise cost control and other initiatives 5  3  32  7  Subtotal 197  137  503  481  Financing fees - Issuer Solutions acquisition (a) —  —  20  —  Total 197  137  523  481  Discontinued operations: Acquisition and integration $ —  $ —  $ —  $ —  Enterprise transformation, including Future Forward and platform modernization —  —  —  1  Severance and other termination expenses —  —  —  1  Separation of the Worldpay Merchant Solutions business —  —  —  8  Other, including divestiture-related expenses and enterprise cost control and other initiatives —  —  —  3  Total from discontinued operations —  —  $ —  $ 13  Total consolidated $ 197  $ 137  $ 523  $ 494  (a) This item represents bridge facility fees incurred to secure funding for the pending Issuer Solutions business acquisition from Global Payments. These fees are recorded as a component of Interest expense, net on our consolidated statements of earnings (loss). Accordingly, this item is included in Acquisition, integration and other costs for purposes of calculating Adjusted net earnings but not Adjusted EBITDA. Amounts in table may not sum due to rounding. (3) There were no material impairments during the three and nine months ended September 30, 2025. The three and nine months ended September 30, 2024, included impairments primarily related to the termination of certain internally developed software projects. 11 FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATIONS — UNAUDITED (In millions, except per share amounts) (4) For the nine months ended September 30, 2024, this item represents costs that were incurred in support of the Worldpay Merchant Solutions business prior to the separation but are not directly attributable to it and thus were not recorded in discontinued operations. The Company is being reimbursed for these expenses as part of Transition Services Agreements with the buyer and/or eliminated them post separation; therefore, the expenses have been adjusted out of continuing operations and added to discontinued operations. (5) Non-operating (income) expense primarily consists of other income and expense items outside of the Company's operating activities, including fair value adjustments on certain non-operating assets and liabilities and foreign currency transaction remeasurement gains and losses. For the nine months ended September 30, 2025, earnings from continuing operations also includes a $108 million write down, triggered by the Worldpay Minority Interest Sale agreement, of the contingent consideration included as part of the 2024 sale of a 55% ownership interest in its Worldpay Merchant Solutions business (the "2024 Worldpay Sale"). For the six months ended September 30, 2024, earnings from continuing operations also includes loss on extinguishment of debt of approximately $174 million relating to tender discounts and fees; the write-off of unamortized bond discounts, debt issuance costs and fair value basis adjustments; and gains on related derivative instruments. (6) This adjustment is based on an adjusted effective tax rate of 12.0% and 14.5% for the periods ended September 30, 2025 and 2024, respectively, which reflects adjustments to our GAAP effective tax rate to take into account primarily certain cash tax benefits from our equity method investment in Worldpay. For the nine months ended September 30, 2024, the Company recorded a tax benefit of $991 million in its earnings from discontinued operations primarily from the write-off of U.S. deferred tax liabilities that were not transferred in the 2024 Worldpay Sale, net of the estimated U.S. tax cost that the Company expects to incur as a result of the 2024 Worldpay Sale. This adjustment includes the removal of the impact of this tax benefit from our earnings from discontinued operations for this period. (7) FIS completed the separation of Worldpay on January 31, 2024, retaining a non-controlling 45% ownership interest that is recorded under the equity method of accounting, net of investor-level tax. FIS' share of Worldpay's results under the equity method of accounting reflects activity beginning on February 1, 2024. For the nine months ended September 30, 2025, our investor-level tax includes $539 million of expense recorded during the second quarter related to a remeasurement of our deferred tax liability. This remeasurement resulted from our agreement to sell our remaining interest in Worldpay, which constituted a change in our intent to hold the investment for the long term. (8) This item represents FIS' proportionate share of Worldpay's non-GAAP adjustments on its earnings (loss) consistent with FIS' non-GAAP measures and is comprised of the following: Three months ended September 30, Nine months ended September 30, Eight months ended September 30, 2025 2024 2025 2024 FIS' share of Worldpay: Purchase accounting amortization $ 158  $ 133  $ 474  $ 442  Acquisition, integration and other costs (a) 32  28  117  139  Non-operating (income) expense (16) 47  29  27  Non-GAAP tax (provision) benefit (16) (36) 483  (104) Non-GAAP adjustments on equity method investment earnings (loss), net of related (provision) benefit for income taxes $ 158  $ 172  $ 1,103  $ 504  (a)     Worldpay acquisition, integration, and other costs for the three months ended September 30, 2025 and 2024, nine months ended September 30, 2025, and eight months ended September 30, 2024, consist primarily of transaction and transition costs related to the separation from FIS. Amounts in table may not sum due to rounding. (9) The Company stopped recording depreciation and amortization on the long-lived assets classified as held for sale beginning July 5, 2023. The amount of depreciation and amortization that would have been recorded in discontinued 12 FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATIONS — UNAUDITED (In millions, except per share amounts) operations had these assets not been classified as held for sale has been deducted from adjusted net earnings for the nine months ended September 30, 2024, for comparability purposes. (10) An initial loss on sale of disposal group of $466 million was recorded upon closing of the 2024 Worldpay Sale to reflect the impact of the excess of the carrying value of the disposal group over the estimated fair value less cost to sell. During the three months ended September 30, 2024, an additional $25 million estimated loss on sale was recorded to reflect the impact of estimated post-closing adjustments, reflecting a cumulative estimated loss on sale of $491 million. (11) For the nine months ended September 30, 2025, Adjusted net earnings is a gain, while the corresponding GAAP amount for this period is a loss. As a result, in calculating Adjusted net earnings per share-diluted for this period, the weighted average shares outstanding-diluted amount of approximately 527 million used in the calculation includes approximately 2 million shares for the nine months ended September 30, 2025, that in accordance with GAAP are excluded from the calculation of the GAAP Net loss per share-diluted for the period, due to their anti-dilutive impact. 13 FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL FINANCIAL INFORMATION OF WORLDPAY HOLDCO, LLC — UNAUDITED (In millions) Exhibit H Summary Worldpay Holdco, LLC financial information is as follows: Three months ended September 30, Nine months ended September 30, Eight months ended September 30, 2025 2024 2025 2024 (1) Revenue $ 1,351  $ 1,248  $ 4,119  $ 3,429  Gross profit $ 685  $ 718  $ 2,018  $ 1,771  Earnings (loss) before income taxes $ (47) $ (99) $ (346) $ (326) Net earnings (loss) attributable to Worldpay Holdco, LLC $ (49) $ (160) $ (405) $ (431) FIS share of net earnings (loss) attributable to Worldpay Holdco, LLC, net of tax (2) $ (23) $ (33) $ (692) $ (110) The following is a GAAP to Non-GAAP reconciliation of Adjusted EBITDA for Worldpay Holdco LLC. Three months ended September 30, Nine months ended September 30, Eight months ended September 30, 2025 2024 2025 2024 (1) Net earnings (loss) attributable to Worldpay Holdco, LLC $ (49) $ (160) $ (405) $ (431) Provision (benefit) for income taxes 2  60  59  102  Interest expense, net 148  146  438  410  Other, net (36) 106  65  65  Operating income (loss) 65  152  157  146  Depreciation and amortization, excluding purchase accounting amortization 59  23  157  52  Non-GAAP adjustments: Purchase accounting amortization 352  295  1,054  982  Transition, acquisition, integration and other costs (3) 71  62  260  308  Adjusted EBITDA $ 547  $ 532  $ 1,628  $ 1,488  (1) FIS completed the separation of Worldpay on January 31, 2024. Accordingly, Worldpay's results reflect activity beginning on February 1, 2024. (2) Amounts include our share of the net income attributable to Worldpay and our investor-level tax (expense) benefit of $(2) million and $39 million for the three months ended September 30, 2025 and 2024, and $(513) million and $84 million for the nine months ended September 30, 2025 and eight months ended September 30, 2024, respectively, as well as, intra-entity eliminations, and is reported as equity method investment earnings (loss), net of tax on our consolidated statements of earnings (loss). For the nine months ended September 30, 2025, our investor-level tax includes $539 million of expense recorded during the second quarter related to a remeasurement of our deferred tax liability. This remeasurement resulted from our agreement to sell our remaining interest in Worldpay, which constituted a change in our intent to hold the investment for the long term. (3) This item represents primarily transaction and transition costs associated with the separation of Worldpay from FIS. 14
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.