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
 


Description

   Estimated
Fair Value
     Estimated
Useful Life
     Three
Months
Ended
March 31,
2019
     Year Ended
December 31,
2018
 
(in millions)                            

Selling, general and administrative expenses—amortization expense for intangible assets

   $ 10,500        5-10 years      $ 15      $ 62  

Less: Selling, general and administrative expenses—historical Worldpay intangible amortization

           (11      (44

Less: Selling, general and administrative expenses—historical Worldpay internally developed software amortization

           (2      (10

Less: Selling, general and administrative expenses—historical Worldpay deferred contract costs amortization

           —          (1
        

 

 

    

 

 

 

Net pro forma adjustment to selling, general, and administrative expenses—amortization

           2        7  

Less: Worldpay’s acquisition of Worldpay Group plc transaction costs

           —          (121

Less: FIS’ and Worldpay’s transaction costs in connection with the merger

           (20      —    
        

 

 

    

 

 

 

Net pro forma amortization adjustment to selling, general, and administrative expenses

         $ (18    $ (114
        

 

 

    

 

 

 

 

(c)

Historical interest expense has been adjusted as follows:

Interest expense on Senior Notes—pro forma financing adjustment:

Represents the increased interest expense for the three months ended March 31, 2019 and the year ended December 31, 2018 of approximately $77 million and $312 million, respectively. For these unaudited pro forma condensed combined financial statements, FIS assumes the Senior Notes have a weighted average interest rate of 3.32% and the senior, unsecured commercial paper notes under the commercial paper program bear an interest rate of 2.79%. Based on the principal amounts of Senior Notes and commercial paper assumed to be issued, a 1/8% increase (decrease) in the annual interest rates on the debt assumed to be issued would cause the net earnings to (decrease) increase for the three months ended March 31, 2019 by ($3 million) and $3 million, respectively, and for the year ended December 31, 2018 by ($12 million) and $12 million, respectively.

 

16