$FISV

FISERV INC

CIK:0000798354|SEC Filings

Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Revenue

$ 5,292

$ 5,516

$ 10,319

$ 10,646

Selling, general and administrative

1,888

1,711

3,773

3,393

Net gain on sale of assets

(6)

(89)

(17)

Total expenses

4,277

3,820

8,386

7,555

Operating income

1,015

1,696

1,933

3,091

Interest expense, net

(370)

(365)

(717)

(696)

Gain on early debt extinguishment

154

Other expense, net

(24)

(39)

(2)

(57)

Income before income taxes and income (loss) from investments in unconsolidated affiliates

775

1,292

1,368

2,338

Income tax provision

(156)

(246)

(180)

(436)

Income (loss) from investments in unconsolidated affiliates

(16)

(24)

Net income

630

1,030

1,203

1,878

Less: net income attributable to noncontrolling interests

Net income attributable to Fiserv, Inc.

$ 627

$ 1,026

$ 1,198

$ 1,877

Net income attributable to Fiserv, Inc. per share:

Basic (in dollars per share)

$ 1.18

$ 1.86

$ 2.25

$ 3.38

Diluted (in dollars per share)

$ 1.17

$ 1.86

$ 2.24

$ 3.36

Shares used in computing net income attributable to Fiserv, Inc. per share:

Basic (in shares)

532.6

550.8

533.4

556.1

Diluted (in shares)

533.7

552.7

534.5

558.7

Processing and services

Revenue

^[1]

$ 4,292

$ 4,304

$ 8,362

$ 8,349

Cost of goods sold and services

1,706

1,412

3,316

2,801

Product

Revenue

1,000

1,212

1,957

2,297

Cost of goods sold and services

$ 689

$ 694

$ 1,386

$ 1,378

[1]	Includes processing and other fees charged to related party investments accounted for under the equity method of $20 million for each of the three months ended June 30, 2026 and 2025, and $38 million and $56 million for the six months ended June 30, 2026 and 2025, respectively (see Note 6).

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 1,203	$ 1,878
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and other amortization	1,050	897
Amortization of acquisition-related intangible assets	626	673
Amortization of financing costs and debt discounts	25	22
Share-based compensation	235	215
Deferred income taxes	(170)	(215)
Net gain on sale of assets	(89)	(17)
Net gain on early debt extinguishment	(130)	0
(Income) loss from investments in unconsolidated affiliates	(15)	24
Originations of merchant cash advances, held for sale	(37)	0
Proceeds from repayments and sales of merchant cash advances, originally classified as held for sale	37	0
Distributions from unconsolidated affiliates	19	22
Non-cash foreign currency exchange losses	9	65
Other operating activities	4	(6)
Changes in assets and liabilities, net of effects from acquisitions:
Trade accounts receivable	97	(280)
Prepaid expenses and other assets	(156)	(612)
Contract costs	(129)	(121)
Accounts payable and other liabilities	(466)	(272)
Contract liabilities	(31)	40
Net cash provided by operating activities	2,082	2,313
Cash flows from investing activities
Capital expenditures, including capitalized software and other intangibles	(956)	(814)
Proceeds from sale of assets	187	0
Merchant cash advances, including Clover Capital program	(566)	0
Repayments and sales of merchant cash advances, including Clover Capital program	678	0
Settlement anticipation cash advances, net	188	(539)
Payments for acquisition of businesses, net of cash acquired	0	(337)
Distributions from unconsolidated affiliates	8	13
Purchases of investments	(16)	(41)
Proceeds from sale of investments	15	474
Other investing activities	3	(19)
Net cash used in investing activities	(459)	(1,263)
Cash flows from financing activities
Debt proceeds	2,097	3,679
Debt repayments, including redemption and other costs	(2,762)	(2,360)
Net (repayments of) borrowings from commercial paper and short-term borrowings	(708)	1,925
Payments of debt financing costs	(2)	(5)
Proceeds from issuance of treasury stock	22	37
Purchases of treasury stock, including employee shares withheld for tax obligations	(393)	(4,642)
Settlement activity, net	(637)	200
Payment to acquire noncontrolling interest of consolidated subsidiary	0	(22)
Other financing activities	0	22
Net cash used in financing activities	(2,383)	(1,166)
Effect of exchange rate changes on cash and cash equivalents	(39)	92
Net change in cash and cash equivalents	(799)	(24)
Cash and cash equivalents, beginning balance	2,802	2,993
Cash and cash equivalents, ending balance	$ 2,003	$ 2,969

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 627	$ 798
Trade accounts receivable, less allowance for doubtful accounts	3,909	3,981
Prepaid expenses and other current assets	3,077	3,396
Settlement assets	17,561	16,479
Assets held for sale	190	0
Total current assets	25,364	24,654
Property and equipment, net	3,328	3,084
Intangible assets, net	9,712	10,161
Goodwill	37,524	37,703
Contract costs, net	1,029	1,039
Investments in unconsolidated affiliates	1,031	1,046
Other long-term assets	2,898	2,446
Total assets	80,886	80,133
Liabilities and Equity
Accounts payable and other current liabilities	4,707	5,307
Short-term and current maturities of long-term debt	1,207	1,239
Contract liabilities	819	865
Settlement obligations	17,561	16,479
Liabilities associated with assets held for sale	13	0
Total current liabilities	24,307	23,890
Long-term debt	26,679	27,758
Deferred income taxes	1,589	1,478
Long-term contract liabilities	260	259
Other long-term liabilities	1,125	939
Total liabilities	53,960	54,324
Commitments and Contingencies (see Note 17)
Fiserv, Inc. Shareholders’ Equity:
Preferred stock, no par value: 25 million shares authorized; none issued	0	0
Common stock, $0.01 par value: 1,800 million shares authorized; 784 million shares issued	8	8
Additional paid-in capital	23,307	23,260
Accumulated other comprehensive loss	(983)	(984)
Retained earnings	28,253	27,055
Treasury stock, at cost, 253 million and 250 million shares, respectively	(23,681)	(23,547)
Total Fiserv, Inc. shareholders’ equity	26,904	25,792
Noncontrolling interests	22	17
Total equity	26,926	25,809
Total liabilities and equity	80,886	80,133
Customer relationships, net
Assets
Intangible assets, net	4,588	5,093
Other intangible assets, net
Assets
Intangible assets, net	$ 5,124	$ 5,068