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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 3/26/24 Fiserv Inc. 8-K:2,8,9 3/26/24 12:616K Donnelley … Solutions/FA |
Document/Exhibit Description Pages Size 1: 8-K Current Report HTML 43K 2: EX-99.1 Miscellaneous Exhibit HTML 383K 7: R1 Document and Entity Information HTML 60K 9: XML IDEA XML File -- Filing Summary XML 12K 12: XML XBRL Instance -- d817941d8k_htm XML 30K 8: EXCEL IDEA Workbook of Financial Report Info XLSX 8K 4: EX-101.DEF XBRL Definitions -- fi-20240326_def XML 44K 5: EX-101.LAB XBRL Labels -- fi-20240326_lab XML 74K 6: EX-101.PRE XBRL Presentations -- fi-20240326_pre XML 46K 3: EX-101.SCH XBRL Schema -- fi-20240326 XSD 18K 10: JSON XBRL Instance as JSON Data -- MetaLinks 15± 23K 11: ZIP XBRL Zipped Folder -- 0001193125-24-077703-xbrl Zip 37K
| 8-K |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM i 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): i March 26, 2024
Fiserv, Inc.
(Exact Name of Registrant as Specified in Charter)
| i Wisconsin | i 1-38962 | i 39-1506125 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| i 600 N. Vel R. Phillips Avenue, i Milwaukee, i Wisconsin i 53203 (Address of Principal Executive Offices, Including Zip Code) |
i (262) i 879-5000
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| i ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| i ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| i ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| i ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
| i Common Stock, par value $0.01 per share | i FI | i The New York Stock Exchange | ||
| i 1.125% Senior Notes due 2027 | i FI27 | i The New York Stock Exchange | ||
| i 1.625% Senior Notes due 2030 | i FI30 | i The New York Stock Exchange | ||
| i 2.250% Senior Notes due 2025 | i FI25 | i The New York Stock Exchange | ||
| i 3.000% Senior Notes due 2031 | i FI31 | i The New York Stock Exchange | ||
| i 4.500% Senior Notes due 2031 | i FI31A | i The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company i ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02. | Results of Operations and Financial Condition. |
Segment Realignment
Effective for the quarter ending March 31, 2024, Fiserv, Inc. (the “Company”) is realigning its reportable segments to correspond with changes in its business designed to further enhance operational performance in the delivery of its integrated portfolio of products and solutions to its financial institution clients (the “Segment Realignment”). As further described below under Item 8.01 of this Current Report on Form 8-K, the Company’s new reportable segments are Merchant Solutions and Financial Solutions.
Supplemental Financial Information
The Company is providing updated information in the schedules included in Exhibit 99.1 to recalculate certain non-GAAP measures of its historical financial performance under the new segment reporting structure for each of the quarters in 2023 and 2022 as well as the full year 2023 and 2022. The schedules have been prepared by making certain adjustments to the underlying composition of the Company’s historical financial information. The adjustments are discussed in the notes to the schedules.
| Item 8.01. | Other Events. |
The Company’s new reportable segments are:
Merchant Solutions (“Merchant”)
The businesses in the Merchant segment provide commerce-enabling products and services to companies of all sizes around the world. These products and services include merchant acquiring and digital commerce services; mobile payment services; security and fraud protection solutions; stored-value solutions; and pay-by-bank solutions. The businesses within the Merchant segment consist of the following:
| • | Small Business – provides products and services to small businesses and independent software vendors, including Clover®, the Company’s point-of-sale integrated commerce operating system for small business clients |
| • | Enterprise – provides products and services to large businesses, including CaratSM, the Company’s integrated commerce operating system for enterprise clients |
| • | Processing – provides products and services to financial institutions, joint ventures, and other third party resellers which have direct relationships with merchants |
Financial Solutions (“Financial”)
The businesses in the Financial segment provide products and services to financial institution, corporate and public sector clients across the world, enabling the processing of customer loan and deposit accounts, digital payments and card transactions. The businesses within the Financial segment consist of the following:
| • | Banking – provides customer loan and deposit account processing; digital banking; financial and risk management; professional services and consulting; and check processing |
| • | Digital Payments – provides debit card processing services; debit network services; security and fraud protection products; bill payment; person-to-person payments; and account-to-account transfers |
| • | Issuing – provides credit card processing services; prepaid card processing services; card production services; print services; government payment processing; and student loan processing |
Corporate and Other
Corporate and Other supports the Company’s reportable segments, and consists of amortization of acquisition-related intangible assets, unallocated corporate expenses, and other activities that are not considered when management evaluates segment performance, such as gains or losses on sales of businesses, certain assets or investments; costs associated with acquisition and divestiture activity; certain services revenue associated with various dispositions; and postage reimbursements.
The Company will begin reporting its financial results based on the Segment Realignment with the filing of its Quarterly Report on Form 10-Q for the quarter ending March 31, 2024, with prior periods adjusted accordingly.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit Number |
Description | |
| 99.1 | Supplemental segment financial information (furnished pursuant to Item 2.02 of this Current Report on Form 8-K) | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FISERV, INC. | ||||||
| Date: March 26, 2024 | By: | /s/ Robert W. Hau | ||||
| Robert W. Hau | ||||||
| Chief Financial Officer | ||||||
| This ‘8-K’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| 3/31/24 | None on these Dates | |||
| Filed on / For Period end: | 3/26/24 | |||
| List all Filings | ||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/23/24 Fiserv Inc. 8-K:2,9 4/23/24 12:745K |