Vantiv / Smarter / Faster / Easier / Payments    Print Page  |  Close Window

SEC Filings

425
FIDELITY NATIONAL INFORMATION SERVICES, INC. filed this Form 425 on 05/13/2019
Entire Document
 


Worldpay, Inc.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

 

Beginning in 2018, the Company records certain fees paid to third parties, including network fees and other costs, as a reduction of revenue. These fees were previously recorded on a gross basis. This change in presentation has no impact to income from operations. Under ASC 606, revenue of $3,925.4 million was reported for the year ended December 31, 2018. Excluding the impact of the adoption of ASC 606, amounts recorded under ASC 605 would include $6,631.9 million and $2,706.5 million of revenue and network fees and other costs for the year ended December 31, 2018, respectively. The adoption of ASC 606 did not have a material impact on any other line items of the Company’s Consolidated Statements of Income, Statements of Comprehensive (Loss) Income, Statements of Financial Position, Statements of Equity and Statements of Cash Flows.

Disaggregation of Revenue

In the following table, revenue is disaggregated by source of revenue (in millions):

 

     Year Ended December 31, 2018  
     Technology Solutions      Merchant Solutions      Issuer Solutions      Total  

Major Products and Services (1)(2)

           

Processing services

   $ 1,087.9      $ 1,544.4      $ 199.2      $ 2,831.5  

Products and services

     513.5        431.8        148.6        1,093.9  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 1,601.4      $ 1,976.2      $ 347.8      $ 3,925.4  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

     Year Ended December 31, 2017  
     Technology Solutions      Merchant Solutions      Issuer Solutions      Total  

Major Products and Services (1)(2)

           

Processing services

   $ 1,064.5      $ 2,066.0      $ 279.9      $ 3,410.4  

Products and services

     200.0        237.1        179.0        616.1  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 1,264.5      $ 2,303.1      $ 458.9      $ 4,026.5  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

     Year Ended December 31, 2016  
     Technology Solutions      Merchant Solutions      Issuer Solutions      Total  

Major Products and Services (1)(2)

           

Processing services

   $ 873.3      $ 1,875.1      $ 302.3      $ 3,050.7  

Products and services

     118.4        216.2        193.7        528.3  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 991.7      $ 2,091.3      $ 496.0      $ 3,579.0  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) 

Revenue for the years ended December 31, 2017 and 2016 presented in the tables above is prior to the Company’s adoption of ASC 606 and therefore network fees and other costs are presented separately and not are netted within revenue.

(2) 

Revenue breakdown is based on management’s view and certain products and services revenue may be based on the number or volume of transactions.

Processing Services

Processing services revenue is primarily derived from processing credit and debit card transactions comprised of fees charged to businesses for payment processing services. The fees charged consist of a percentage of the transaction value, a specified fee per transaction or a fixed fee, or a combination.

 

- 17 -