FIS Reports First Quarter 2014 Rise in Revenue and Earnings

  FIS Reports First Quarter 2014 Rise in Revenue and Earnings    *Revenue of $1.5 billion, up 4 percent on organic basis   *Adjusted EPS from continuing operations of $0.68, up 10 percent   *Free cash flow of $158 million   *$245 million in share repurchases and cash dividends returned to     shareholders  Business Wire  JACKSONVILLE, Fla. -- May 1, 2014  FIS™ (NYSE:FIS), the world’s largest provider of banking and payments technology, today announced first quarter GAAP revenue of $1.52 billion compared to $1.48 billion a year earlier. GAAP net earnings from continuing operations attributable to common stockholders increased to $155 million, or $0.53 per diluted share, compared to $148 million, or $0.50 per diluted share in the prior year quarter.  Non-GAAP adjusted net earnings from continuing operations attributable to common stockholders increased to $197 million from $182 million in the first quarter 2013 and adjusted net earnings per diluted share increased 10 percent to $0.68 from $0.62 in the first quarter 2013. First quarter 2014 non-GAAP adjusted net earnings from continuing operations excludes acquisition-related purchase amortization of $0.13 per share and includes $0.02 per share related to contract settlement revenue. Definitions of non-GAAP financial measures and reconciliations of non-GAAP measures to related GAAP measures are provided in subsequent sections of the press release narrative and supplemental schedules.  “We are pleased with our first quarter results and the execution of our growth strategy,” said Frank Martire, chairman and chief executive officer of FIS. “Our consistently strong performance reflects demand for FIS solutions which enable financial institutions to succeed while meeting increased efficiency, risk management and compliance requirements. We are confident in our 2014 outlook and long-term growth prospects.”  Segment Information  The following is a discussion of first quarter results by segment:    *Financial Solutions:  Financial Solutions revenue was $587 million, an increase of 2 percent on an organic basis, compared to $575 million in the first quarter 2013, reflecting continued growth in eBanking solutions, consulting and services. Financial Solutions adjusted EBITDA was $227 million, flat with the first quarter of 2013, while adjusted EBITDA margin was 38.7 percent compared to 39.6 percent a year earlier, reflecting a change in revenue mix and lower termination fees.    *Payment Solutions:  Payment Solutions GAAP revenue was $620 million and adjusted revenue was $629 million, an increase of 3 percent on an organic basis, compared to $612 million in the first quarter 2013 reflecting growth in image and output solutions and card solutions. Payment Solutions adjusted EBITDA rose 2 percent to $264 million compared to $258 million in the first quarter of 2013. Adjusted EBITDA margin was 42.1 percent compared to 42.2 percent a year earlier.    *International Solutions:  International Solutions revenue increased 8 percent to $314 million compared to $292 million in the first quarter 2013 and increased 10 percent on an organic basis excluding an unfavorable currency impact of $14 million. The increase in revenue reflects growth across all major regions. International Solutions adjusted EBITDA was $59 million, flat compared to first quarter of 2013. Adjusted EBITDA margin was 18.8 percent compared to 20.3 percent a year earlier, reflecting higher expenses related to the global financial institutions market and lower license revenue.    *Corporate/Other:  Corporate costs totaled $105 million in the first quarter 2014 compared to $117 million in the prior-year quarter, primarily reflecting lower administrative expenses. Interest expense, net of interest income, declined to $41 million in the first quarter of 2014 compared to $52 million in the first quarter 2013, reflecting lower debt costs resulting from attainment of investment grade ratings and debt refinancing in the first half of 2013. The effective tax rate was 33.3% in the first quarter of 2014 compared to 32.9% in the first quarter of 2013.  Balance Sheet and Cash Flow  Cash and cash equivalents totaled $738 million as of March 31, 2014 compared to $548 million as of year-end 2013. Debt outstanding totaled $4.8 billion compared to $4.5 billion at December 31, 2013.  Net cash provided by operations increased to $223 million in the first quarter of 2014. Capital expenditures totaled $90 million compared to $74 million in the first quarter 2013. Free cash flow, which excludes settlement activity related to the payments businesses and the previously announced Capco acquisition related payments, increased to $158 million for first quarter of 2014, compared to $148 million in the 2013 quarter.  FIS repurchased approximately 3.2 million common shares at a total cost of approximately $175 million and paid shareholder dividends of $70 million in the first quarter 2014, compared to $100 million and $65 million respectively, in the prior year quarter.  2014 Outlook  FIS reiterated its full year 2014 outlook as follows:    *Organic revenue growth of 4.5 to 6.5 percent   *EBITDA, as adjusted, growth of 4.5 to 6.5 percent   *EPS from continuing operations of $3.05 to $3.16, as adjusted, an increase     of 8 to 12 percent compared to $2.83 per share in 2013   *Free cash flow is expected to approximate adjusted net earnings  Webcast  FIS will host a webcast on May 1, 2014, to discuss first quarter 2014 results beginning at 8:30 a.m. ET. To listen to the live event and to access a supplemental slide presentation, go to the Investor Relations section at www.fisglobal.com and click on “News and Events.” A webcast replay will be available on FIS’ Investor Relations Web site, and a telephone replay will be available through May 15, 2014 by dialing 800.475.6701 (U.S.) or 320.365.3844 (International). The access code is 324136. To access a .PDF version of this release and accompanying financial tables, go to www.investor.fisglobal.com.  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. 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, the Company has provided non-GAAP financial measures, which it believes are useful to help investors better understand its financial performance, competitive position and prospects for the future. For these reasons, management also uses these measures in part to assess its performance.  These non-GAAP measures include organic revenue, adjusted revenue, EBITDA, adjusted EBITDA and adjusted EBITDA margin, adjusted cash flow from operations, adjusted net earnings (including per share amounts) and free cash flow.  Organic revenue includes adjusted revenue plus pre-acquisition revenue for companies acquired during the applicable reporting periods. Organic revenue excludes the impact of foreign currency fluctuation.  Adjusted revenue (2014) includes reported revenue and is increased by $9 million for a negotiated contract cash settlement for the extinguishment of certain contractual minimums with a reseller. Although the 2014 cash settlement has no contractual performance obligation, under GAAP the cash settlement revenue is amortized in this circumstance over the remaining relationship with the reseller. Adjusted EBITDA (2014) is also adjusted for this settlement.  EBITDA is earnings from continuing operations before interest, taxes, depreciation and amortization.  Adjusted net earnings excludes the after-tax impact of acquisition-related amortization and, for 2014, includes the after-tax impact of adjusted revenue.  Adjusted cash flow from operations is GAAP cash flow from operations as adjusted for the net change in settlement assets and obligations and certain payments for contingent purchase price and incentive compensation programs associated with the 2010 acquisition of Capco.  Adjusted net earnings per diluted share, or adjusted EPS, is equal to adjusted net earnings divided by weighted average diluted shares outstanding.  Free cash flow is adjusted operating cash flow less capital expenditures. Free cash flow does not represent 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.  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 net earnings. 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 are provided in the attached schedules and in the Investor Relations section of the FIS Web site, www.fisglobal.com.  About FIS  FIS is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 110 countries. Headquartered in Jacksonville, Fla., FIS employs more than 39,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 434 on the Fortune 500 and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.  Forward-Looking Statements  This news 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, including statements about future revenue, organic revenue, earnings before interest, taxes, depreciation and amortization (“EBITDA”), earnings per share and margin expansion, as well as other statements about our expectations, hopes, intentions, or strategies regarding the future, are forward-looking statements. 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. Any statements that refer to beliefs, expectations, projections or other characterizations of future events or circumstances and other statements that are not historical facts are forward-looking statements.  Actual results, performance or achievement could differ materially from those contained in these forward-looking statements. The risks and uncertainties that forward-looking statements are subject to include without limitation:    *changes in general economic, business and political conditions, including     the possibility of intensified international hostilities, acts of     terrorism, and changes in either or both the United States and     international lending, capital and financial markets;   *the effect of legislative initiatives or proposals, statutory changes,     governmental or other applicable regulations and/or changes in industry     requirements, including privacy regulations;   *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;   *failures to adapt our solutions to changes in technology or in the     marketplace;   *internal or external security breaches of our systems, including those     relating to the theft of personal information and computer viruses     affecting our software or platforms, and the reactions of customers, card     associations, government regulators and others to any such events;   *the reaction of our current and potential customers to communications from     us or our regulators regarding information security, risk management,     internal audit or other matters;   *competitive pressures on pricing related to our solutions including the     ability to attract new, or retain existing, customers;   *an operational or natural disaster at one of our major operations centers;   *and other risks detailed in “Risk Factors” and other sections of the     Company’s Annual Report on Form 10-K for the fiscal year ended December     31, 2013 and other filings with the SEC.  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.                   Fidelity National Information Services, Inc.               Earnings Release Supplemental Financial Information                                   May 1, 2014  Exhibit A Consolidated Statements of Earnings - Unaudited for the three months ended March31, 2014 and 2013  Exhibit B Consolidated Balance Sheets - Unaudited as of March31, 2014 and December31, 2013  Exhibit C Consolidated Statements of Cash Flows - Unaudited for the three months ended March31, 2014 and 2013  Exhibit D Supplemental Non-GAAP Financial Information - Unaudited for the three months ended March31, 2014 and 2013  Exhibit E Supplemental GAAP to Non-GAAP Reconciliation - Unaudited for the three months ended March31, 2014 and 2013  FIDELITY NATIONAL INFORMATION SERVICES, INC. CONSOLIDATED STATEMENTS OF EARNINGS — UNAUDITED (In millions, except per share data)                                                   Exhibit A                                                    Three months ended March 31,                                                   2014           2013       Processing and services revenues                  $  1,520.3       $ 1,478.0 Cost of revenues                                  1,050.0         1,008.0    Gross profit                                      470.3            470.0 Selling, general and administrative expenses      186.6           194.9      Operating income                                  283.7           275.1      Other income (expense): Interest expense, net                             (41.1       )    (51.7     ) Other income (expense), net                       (0.5        )    5.1        Total other income (expense), net                 (41.6       )    (46.6     ) Earnings from continuing operations before        242.1            228.5 income taxes Provision for income taxes                        80.6            75.2       Earnings from continuing operations, net of tax   161.5            153.3 Loss from discontinued operations, net of tax     (0.4        )    (3.9      ) Net earnings                                      161.1            149.4 Net earnings attributable to noncontrolling       (6.6        )    (5.3      ) interest Net earnings attributable to FIS common           $  154.5        $ 144.1    stockholders Net earnings per share-basic from continuing operations attributable to FIS common             $  0.54          $ 0.51 stockholders Net loss per share-basic from discontinued operations attributable to FIS common             —               (0.01     ) stockholders Net earnings per share-basic attributable to      $  0.54         $ 0.50     FIS common stockholders * Weighted average shares outstanding-basic         288.0           291.0      Net earnings per share-diluted from continuing operations attributable to FIS common             $  0.53          $ 0.50 stockholders Net loss per share-diluted from discontinued operations attributable to FIS common             —               (0.01     ) stockholders Net earnings per share-diluted attributable to    $  0.53         $ 0.49     FIS common stockholders * Weighted average shares outstanding-diluted       291.9           295.5      Amounts attributable to FIS common stockholders: Earnings from continuing operations, net of tax   $  154.9         $ 148.0 Loss from discontinued operations, net of tax     (0.4        )    (3.9      ) Net earnings attributable to FIS common           $  154.5        $ 144.1    stockholders  * Amounts may not sum due to rounding.  FIDELITY NATIONAL INFORMATION SERVICES, INC. CONSOLIDATED BALANCE SHEETS — UNAUDITED (In millions, except per share data)                                                           Exhibit B                                              As of          As of                                             March 31,      December 31,                                             2014           2013 Assets Current assets: Cash and cash equivalents                   $ 737.7        $ 547.5 Settlement deposits                         444.7          327.4 Trade receivables, net                      987.9          987.9 Settlement receivables                      257.2          178.2 Other receivables                           19.4           62.1 Due from Brazilian venture partner          34.9           35.8 Prepaid expenses and other current assets   153.7          154.1 Deferred income taxes                       52.8          58.9        Total current assets                        2,688.3        2,351.9 Property and equipment, net                 449.2          439.0 Goodwill                                    8,500.0        8,500.0 Intangible assets, net                      1,288.0        1,339.3 Computer software, net                      861.1          856.5 Deferred contract costs, net                206.9          206.8 Other noncurrent assets                     277.4         266.6       Total assets                                $ 14,270.9    $ 13,960.1                                                              Liabilities and Equity Current liabilities: Accounts payable and accrued liabilities    $ 653.2        $ 768.0 Due to Brazilian venture partner            14.4           13.7 Settlement payables                         717.0          518.6 Current portion of long-term debt           49.7           128.8 Deferred revenues                           270.1         243.6       Total current liabilities                   1,704.4        1,672.7 Deferred revenues                           26.7           27.2 Deferred income taxes                       810.7          823.6 Long-term debt, excluding current portion   4,728.9        4,339.8 Due to Brazilian venture partner            36.2           34.5 Other long-term liabilities                 261.6         325.0       Total liabilities                           7,568.5       7,222.8     Equity: FIS stockholders’ equity: Preferred stock $0.01 par value             —              — Common stock $0.01 par value                3.9            3.9 Additional paid in capital                  7,271.5        7,247.6 Retained earnings                           2,427.6        2,341.9 Accumulated other comprehensive earnings    3.2            (9.9       ) Treasury stock $0.01 par value              (3,172.1   )   (3,003.0   ) Total FIS stockholders’ equity              6,534.1        6,580.5 Noncontrolling interest                     168.3         156.8       Total equity                                6,702.4       6,737.3     Total liabilities and equity                $ 14,270.9    $ 13,960.1    FIDELITY NATIONAL INFORMATION SERVICES, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS — UNAUDITED (In millions)                                                                   Exhibit C                                                    Three months ended March 31,                                                   2014             2013 Cash flows from operating activities: Net earnings                                      $   161.1        $   149.4 Adjustment to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization                     152.6            153.2 Amortization of debt issue costs                  2.6              2.8 Gain on mFoundry                                  —                (9.2      ) Stock-based compensation                          13.3             13.2 Deferred income taxes                             (6.7       )     (15.4     ) Excess income tax benefit from exercise of        (8.5       )     (4.0      ) stock options Other operating activities, net                   (0.6       )     — Net changes in assets and liabilities, net of effects from acquisitions and foreign currency: Trade receivables                                 15.3             (12.0     ) Settlement activity                               2.5              (13.9     ) Prepaid expenses and other assets                 (13.0      )     (35.1     ) Deferred contract costs                           (16.6      )     (19.7     ) Deferred revenue                                  25.9             (8.3      ) Accounts payable, accrued liabilities and other   (105.3     )     6.5        liabilities Net cash provided by operating activities         222.6           207.5                                                                          Cash flows from investing activities: Additions to property and equipment               (37.9      )     (31.0     ) Additions to computer software                    (52.0      )     (42.7     ) Acquisitions, net of cash acquired and equity     —                (115.0    ) investments Other investing activities, net                   8.5             (7.0      ) Net cash used in investing activities             (81.4      )     (195.7    )                                                                     Cash flows from financing activities: Borrowings                                        1,839.0          2,206.3 Repayment of borrowings and capital lease         (1,529.6   )     (1,990.1  ) obligations Excess income tax benefit from exercise of        8.5              4.0 stock options Proceeds from exercise of stock options           12.8             18.8 Treasury stock activity                           (203.1     )     (105.3    ) Dividends paid                                    (69.5      )     (64.8     ) Other financing activities, net                   (15.7      )     (0.7      ) Net cash provided by financing activities         42.4            68.2                                                                                     Effect of foreign currency exchange rate          6.6             (7.0      ) changes on cash                                                                               Net increase in cash and cash equivalents         190.2            73.0 Cash and cash equivalents, at beginning of        547.5           517.6      period Cash and cash equivalents, at end of period       $   737.7       $   590.6    FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL NON-GAAP FINANCIAL INFORMATION — UNAUDITED (In millions)                                                                                                                                    Exhibit D                                                                                                Three months ended March 31, 2014                Financial   Payment     International   Corporate                                                                     Consolidated                Solutions   Solutions   Solutions       and Other Processing and services   $ 586.8     $ 619.5     $   314.4       $ (0.4   )   $  1,520.3 revenue Non-GAAP adjustments: Contract       —          9.0        —              —           9.0         settlement Adjusted processing     $ 586.8    $ 628.5    $   314.4      $ (0.4   )   $  1,529.3  and services revenue Operating income         $ 187.0     $ 235.5     $   39.4        $ (178.2 )   $  283.7 (loss) Non-GAAP adjustments: Contract       —           9.0         —               —            9.0 settlement Purchase price          —          —          0.1            54.8        54.9        amortization Non-GAAP operating      187.0       244.5       39.5            (123.4   )   347.6 income (loss)                                                                      Depreciation and amortization   39.9       19.9       19.5           18.4        97.7        from continuing operations Adjusted       $ 226.9    $ 264.4    $   59.0       $ (105.0 )   $  445.3    EBITDA                                                                      Non-GAAP operating      31.9    %   38.9    %   12.6       %    N/M          22.7       % margin                                                                      Adjusted EBITDA         38.7    %   42.1    %   18.8       %    N/M          29.1       % margin                                                                                                                                                                                Three months ended March 31, 2013                Financial   Payment     International   Corporate                                                                     Consolidated                Solutions   Solutions   Solutions       and Other Processing and services   $ 575.3    $ 611.8    $   291.6      $ (0.7   )   $  1,478.0  revenue Operating income         $ 188.4     $ 238.5     $   40.3        $ (192.1 )   $  275.1 (loss) Non-GAAP adjustments: Purchase price          —          —          0.1            60.2        60.3        amortization Non-GAAP operating      188.4       238.5       40.4            (131.9   )   335.4 income (loss) Depreciation and amortization   39.2       19.8       18.7           15.2        92.9        from continuing operations Adjusted       $ 227.6    $ 258.3    $   59.1       $ (116.7 )   $  428.3    EBITDA                                                                      Non-GAAP operating      32.7    %   39.0    %   13.9       %    N/M          22.7       % margin                                                                      Adjusted EBITDA         39.6    %   42.2    %   20.3       %    N/M          29.0       % margin                                                                                 Total revenue growth from prior year period Three months ended March    2.0     %   2.7     %   7.8        %    N/M          3.5        % 31, 2014  FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL NON-GAAP ORGANIC REVENUE MEASURES — UNAUDITED (In millions)                                                                Exhibit D (continued)                                                                                                             Three months ended March 31,               2014                                   2013                                        Constant                                   Adjusted      Organic                                        Currency                    In Year        Base          Revenue               Revenue (1)   FX         Revenue       Revenue       Acquisitions   Revenue       Growth Financial     $ 586.8       $ 1.2      $ 588.0       $ 575.3       $   3.8        $ 579.1       1.5   % Solutions Payment       628.5         0.5        629.0         611.8         —              611.8         2.8   % Solutions International 314.4         14.0       328.4         291.6         5.8            297.4         10.4  % Solutions Corporate and (0.4      )   —         (0.4      )   (0.7      )   —             (0.7      )   N/M Other Total processing and services  $ 1,529.3    $ 15.7    $ 1,545.0    $ 1,478.0    $   9.6       $ 1,487.6    3.9   %  revenue  (1) As adjusted. See note (1) for exhibit E.  FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL NON-GAAP CASH FLOW MEASURES — UNAUDITED (In millions)                                                                                        Exhibit D (continued)                                                                                                       Three months ended March 31,                                             2014           2013       Net cash provided by operating activities   $  222.6        $  207.5 Non-GAAP adjustments: Capco acquisition related payments (1)      28.0            — Settlement activity                         (2.5      )     13.9       Adjusted cash flows from operations         248.1           221.4 Capital expenditures                        (89.9     )     (73.7     ) Free cash flow                              $  158.2       $  147.7    (1) Free cash flow for the three months ended March 31, 2014 excludes payments for contingent purchase price and the New Hires and Promotions Incentive Plan associated with the 2010 acquisition of Capco. In accordance with the accounting guidance, contingent purchase price payments are included in other financing activities on the Statement of Cash Flows only to the extent they represent the original liability established at the acquisition date. Payments related to subsequent adjustments to the contingent purchase price are included in the net cash provided by operating activities.  FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATION — UNAUDITED (In millions)                                                                                                                      Exhibit E                                                                                                                                 Three months ended                                                            March 31,                                                            2014       2013                                                                         Net earnings from continuing operations attributable to    $ 154.9     $ 148.0 FIS Plus provision for income taxes                            80.6        75.2 Interest expense, net                                      41.1        51.7 Other, net                                                 7.1        0.2                                                                         Operating income                                           283.7       275.1 Non-GAAP adjustments: Contract settlement                                        9.0         — Purchase price amortization                                54.9       60.3                                                                         Non-GAAP operating income                                  347.6       335.4                                                                         Depreciation and amortization from continuing operations   97.7       92.9 Adjusted EBITDA                                            $ 445.3    $ 428.3  FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATION — UNAUDITED (In millions)                                                        Exhibit E (continued)                                                                                      Three months ended March 31, 2014                                                           Purchase                                Contract                   Price                  GAAP          Settlement   Subtotal      Amort.     Non-GAAP                                (1)                        (3) Processing and services         $ 1,520.3     $  9.0       $ 1,529.3     $ —        $ 1,529.3 revenue Cost of          1,050.0      —           1,050.0      (54.9  )   995.1      revenues Gross profit     470.3         9.0          479.3         54.9       534.2 Selling, general and      186.6        —           186.6        —         186.6      administrative Operating        283.7        9.0         292.7        54.9      347.6      income Other income (expense): Interest income           (41.1     )   —            (41.1     )   —          (41.1     ) (expense), net Other income     (0.5      )   —           (0.5      )   —         (0.5      ) (expense), net Total other income           (41.6     )   —           (41.6     )   —         (41.6     ) (expense) Earnings (loss) from continuing       242.1         9.0          251.1         54.9       306.0 operations before income taxes Provision for    80.6         3.0         83.6         18.4      102.0      income taxes Earnings (loss) from continuing       161.5         6.0          167.5         36.5       204.0 operations, net of tax Earnings (loss) from discontinued     (0.4      )   —           (0.4      )   —         (0.4      ) operations, net of tax (4) Net earnings     161.1         6.0          167.1         36.5       203.6 (loss) Net (earnings) loss attributable     (6.6      )   —           (6.6      )   —         (6.6      ) to noncontrolling interest Net earnings (loss) attributable     $ 154.5      $  6.0      $ 160.5      $ 36.5    $ 197.0    to FIS common stockholders                                                                                 Amounts attributable to FIS common stockholders Earnings (loss) from continuing       $ 154.9       $  6.0       $ 160.9       $ 36.5     $ 197.4 operations, net of tax Earnings (loss) from discontinued     (0.4      )   —           (0.4      )   —         (0.4      ) operations, net of tax (4) Net earnings (loss) attributable     $ 154.5      $  6.0      $ 160.5      $ 36.5    $ 197.0    to FIS common stockholders                                                                       Net earnings (loss) per share — diluted from continuing       $ 0.53       $  0.02     $ 0.55       $ 0.13    $ 0.68     operations attributable to FIS common stockholders* Weighted average shares   291.9        291.9       291.9        291.9     291.9      outstanding — diluted                                                                                 Effective tax    33        %                                         33        % rate                                                                                 Supplemental information: Depreciation and                                         $ 152.6      (54.9  )   $ 97.7     amortization Stock compensation expense,                                                             $ 13.3 excluding acceleration charges Stock acceleration                                                         —          charges Total stock compensation                                                         $ 13.3     expense                                                                                 * Amounts may not sum due to rounding.  See accompanying notes.  FIDELITY NATIONAL INFORMATION SERVICES, INC. SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATION — UNAUDITED (In millions)                                                       Exhibit E (continued)                                                                                     Three months ended March 31, 2013                                                                                                               Stock and                 Purchase                                Other                                Gain on                   Price                  GAAP          mFoundry    Subtotal      Amort.     Non-GAAP                                (2)                       (3) Processing and services         $ 1,478.0     $ —         $ 1,478.0     $ —        $ 1,478.0 revenue Cost of          1,008.0      —          1,008.0      (60.3  )   947.7      revenues Gross profit     470.0         —           470.0         60.3       530.3 Selling, general and      194.9        —          194.9        —         194.9      administrative Operating        275.1        —          275.1        60.3      335.4      income Other income (expense): Interest income           (51.7     )   —           (51.7     )   —          (51.7     ) (expense), net Other income     5.1          (9.2    )   (4.1      )   —         (4.1      ) (expense), net Total other income           (46.6     )   (9.2    )   (55.8     )   —         (55.8     ) (expense) Earnings (loss) from continuing       228.5         (9.2    )   219.3         60.3       279.6 operations before income taxes Provision for    75.2         (3.0    )   72.2         19.8      92.0       income taxes Earnings (loss) from continuing       153.3         (6.2    )   147.1         40.5       187.6 operations, net of tax Earnings (loss) from discontinued     (3.9      )   —          (3.9      )   —         (3.9      ) operations, net of tax (4) Net earnings     149.4         (6.2    )   143.2         40.5       183.7 (loss) Net (earnings) loss attributable     (5.3      )   —          (5.3      )   —         (5.3      ) to noncontrolling interest Net earnings (loss) attributable     $ 144.1      $ (6.2  )   $ 137.9      $ 40.5    $ 178.4    to FIS common stockholders                                                                                Amounts attributable to FIS common stockholders Earnings (loss) from continuing       $ 148.0       $ (6.2  )   $ 141.8       $ 40.5     $ 182.3 operations, net of tax Earnings (loss) from discontinued     (3.9      )   —          (3.9      )   —         (3.9      ) operations, net of tax (4) Net earnings (loss) attributable     $ 144.1      $ (6.2  )   $ 137.9      $ 40.5    $ 178.4    to FIS common stockholders                                                                      Net earnings (loss) per share — diluted from continuing       $ 0.50       $ (0.02 )   $ 0.48       $ 0.14    $ 0.62     operations attributable to FIS common stockholders* Weighted average shares   295.5        295.5      295.5        295.5     295.5      outstanding — diluted                                                                                Effective tax    33        %                                        33        % rate                                                                                Supplemental information: Depreciation and                                        $ 153.2      (60.3  )   $ 92.9     amortization Stock compensation expense,                                                            $ 13.2 excluding acceleration charges Stock acceleration                                                        —          charges Total stock compensation                                                        $ 13.2     expense  * Amounts may not sum due to rounding.  See accompanying notes.                   FIDELITY NATIONAL INFORMATION SERVICES, INC.             SUPPLEMENTAL GAAP TO NON-GAAP RECONCILIATION — UNAUDITED                                  (In millions)  Notes to Unaudited - Supplemental GAAP to Non-GAAP Reconciliation for the three months ended March31, 2014 and 2013.  The adjustments are as follows:  (1) The revenue adjustment in this column represents a cash settlement for the extinguishment of certain contractual minimums with a reseller. Although the 2014 cash settlement has no contract performance obligation, revenue is amortized in this circumstance over the remaining relationship with the reseller.  (2) Gain resulting from the purchase of the remaining shares of mFoundry, Inc., representing the difference between the fair value and carrying value of the minority interest investment previously held.  (3) This column represents purchase price amortization expense on intangible assets acquired through various Company acquisitions.  (4) During the third quarter of 2010, we determined that Fidelity National Participacoes Ltda. ("Participacoes"), our item processing and remittance services business in Brazil, should be treated as a discontinued operation. Participacoes had losses of $(0.4) million and $(3.9) million during the three months ended March 31, 2014 and 2013, respectively, related to ongoing labor claim settlements that were not transferred with other assets and liabilities in the disposal.  Contact:  Ellyn Raftery, 904.438.6083 Chief Marketing Officer FIS Global Marketing and Communications ellyn.raftery@fisglobal.com or Nancy Murphy, 904.438.6192 Senior Vice President FIS Investor Relations nancy.murphy@fisglobal.com  
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