Fidelity National Information Services

As of December 31, 2025, cash was $599 million, long‑term debt including current maturities was about $10.35 billion, and total debt outstanding cited in the 4Q25 release was $13.1 billion including short‑term borrowings.

Post‑close in January 2026, FIS funded the Issuer Solutions deal primarily with a $7.7 billion term facility, later replaced with permanent notes, while monetizing the remaining Worldpay stake. Management plans to prioritize deleveraging toward a target gross leverage of roughly 2.8x before resuming larger buybacks.

Liquidity is adequate and the cash generation profile is robust, but near‑term interest expense steps up until deleveraging progresses.