v3.26.1
Debt
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Debt Debt
Long-term debt as of June 30, 2026, and December 31, 2025, consisted of the following (in millions):

June 30, 2026
Weighted
Average
InterestInterestJune 30,December 31,
RatesRate (1)Maturities20262025
Fixed Rate Notes
Senior USD Notes
1.7% - 5.6%
4.5%2027 - 2052$11,145 $6,094 
Senior Euro Notes
1.0% - 3.5%
3.1%2027 - 20394,420 3,963 
Senior GBP Notes
2.3% - 3.4%
6.6%2029 - 2031225 229 
Senior USD Floating Rate Notes (2)2029500 — 
Senior Euro Floating Rate Notes (3)2028570 — 
Revolving Credit Facility (4)4.9%2029167 215 
Incremental Revolving Credit Facility (5)2027— — 
Financing arrangements for certain hardware and software2026 - 2030213 116 
Other (6)(292)(264)
Total long-term debt, including current portion16,948 10,353 
Current portion of long-term debt(1,516)(1,284)
Long-term debt, excluding current portion$15,432 $9,069 
    
(1)The weighted average interest rate includes the impact of the fair value basis adjustments due to interest rate swaps, the impact of cross-currency interest rate swaps designated as fair value hedges, and the impact of interest rate swaps designated as cash flow hedges, and excludes the impact of cross-currency interest rate swaps designated as net investment hedges (see Note 8). These impacts, in certain cases, result in an effective weighted average interest rate being outside the stated interest rate range on the fixed rate notes.
(2)Interest on the Senior USD Floating Rate Notes is payable quarterly at Compound Secured Overnight Financing Rate ("SOFR") plus 1.21%.
(3)Interest on the Senior EUR Floating Rate Notes is payable quarterly at Three-month Euro Interbank Offered Rate ("EURIBOR") plus 0.85%.
(4)Interest on the Revolving Credit Facility is generally payable at SOFR plus an applicable margin of up to 1.625% and an unused commitment fee of up to 0.200%, each based upon the Company's corporate credit ratings. The weighted average interest rate on the Revolving Credit Facility excludes fees.
(5)Interest on the Incremental Revolving Credit Facility is generally payable at SOFR plus an applicable margin of up to 1.625% and an unused commitment fee of up to 0.200%, each based upon the Company's corporate credit ratings.
(6)Other includes the amount of fair value basis adjustments due to interest rate swaps (see further discussion below and in Note 8), unamortized debt issuance costs and unamortized non-cash bond discounts.

Short-term borrowings as of June 30, 2026, and December 31, 2025, consisted of the following (in millions):

June 30, 2026
Weighted
Average
InterestJune 30,December 31,
RateMaturities20262025
Euro-commercial paper notes ("ECP Notes")2.4 %
Up to 183 days
$114 $117 
U.S. commercial paper notes ("USCP Notes")4.0 %
Up to 397 days
4,112 2,612 
Total Short-term borrowings$4,226 $2,729 

The Company is a party to interest rate swaps that, prior to de-designation as fair value hedges during the quarter ended September 30, 2023, converted a portion of its fixed-rate debt to variable-rate debt. As a result of the de-designations, the final
fair value basis adjustments recorded through the dates of de-designation as a decrease of the long-term debt are subsequently
amortized as interest expense using the effective interest method over the remaining periods to maturity of the respective long-term debt. The fair value basis adjustments reflected in Other in the long-term debt table above totaled $(173) million and $(192) million as of June 30, 2026, and December 31, 2025, respectively.

The Company is also party to fixed-for-fixed cross-currency interest rate swaps under which it agrees to receive interest in foreign currency in exchange for paying interest in U.S. dollars. These are designated as fair value hedges.

The Company is also party to variable-for-fixed interest rate swaps under which it agrees to receive variable interest in
exchange for paying fixed interest. These are designated as cash flow hedges.

The Company has also entered into cross-currency interest rate swaps under which it agrees to receive interest in U.S. dollars in exchange for paying interest in a foreign currency. These are designated as net investment hedges. Although these cross-currency interest rate swaps are entered into as net investment hedges of its investments in certain of its non-U.S. subsidiaries, and not for the purpose of hedging interest rates, the benefit or cost of such hedges is reflected in interest expense in the consolidated statements of earnings (loss). As of June 30, 2026, the weighted average interest rate of the Company's outstanding debt was 4.2%, including the impact of fair value basis adjustments due to interest rate swaps, cross-currency
interest rate swaps designated as fair value hedges, and interest rate swaps designated as cash flow hedges, but excluding the impact of cross-currency interest rate swaps designated as net investment hedges. Including the impact of the net investment hedge cross-currency interest rate swaps on interest expense, the weighted average interest rate of the Company's outstanding debt was 3.8%.

See Note 8 for further discussion of the Company's interest rate swaps and cross-currency interest rate swaps and related hedge designations.

The following table summarizes the amount of our long-term debt, including financing arrangements for certain hardware and software, as of June 30, 2026, based on maturity date.
Total
2026$63 
20271,710 
20284,300 
20293,534 
20301,731 
Thereafter5,902 
Total principal payments17,240 
Other debt per the long-term debt table(292)
Total long-term debt, including current portion$16,948 

There are no mandatory principal payments on the revolving credit facilities, and any balance outstanding on the revolving credit facilities will be due and payable at the revolving credit facilities' respective scheduled maturity dates, which occur on September 27, 2029, for the Revolving Credit Facility and June 15, 2027, for the Incremental Revolving Credit Facility.

Senior Notes

On March 10, 2026, FIS issued and sold senior notes consisting of senior USD notes in an aggregate principal amount of $6.3 billion with interest rates of 4.45%, 4.55%, and 4.80% and maturities of 2028, 2029, and 2031; senior USD floating rate notes of $500 million with a maturity of 2029; senior Euro notes of €500 million with an interest rate of 3.45% and a maturity of 2030; and senior Euro floating rate notes of €500 million with a maturity of 2028. The proceeds from the debt issuance were used to repay short-term indebtedness under the Company's Term Facility incurred to finance the Issuer Solutions Acquisition, with remaining net proceeds used to repay borrowing outstanding under the Company's commercial paper programs during the first quarter of 2026.

On March 1, 2026, FIS repaid in full an aggregate principal amount of $1,250 million in its 1.15% Senior USD Notes at maturity.
Commercial Paper

The Company has a Euro commercial paper ("ECP") and a U.S. commercial paper ("USCP") program for the issuance and sale of senior, unsecured commercial paper notes, up to a combined maximum aggregate amount outstanding at any time of $7.0 billion. Borrowings are limited to the availability of funds under the revolving credit facilities, which backstop the commercial paper programs. The ECP and USCP programs are generally used for general corporate purposes.

Revolving Credit Facilities

On November 6, 2025, the Company amended its existing Revolving Credit Facility, increasing the total commitments from $4.5 billion to $6.0 billion. On November 6, 2025, FIS also entered into an Incremental Revolving Credit Facility that provides $1.0 billion in additional revolving credit commitments, with a scheduled maturity date of June 15, 2027. Proceeds from borrowings under this facility may be used for general corporate purposes, including working capital needs, repayment of existing indebtedness and to backstop the Company's commercial paper programs. As of June 30, 2026, the borrowing capacity under the revolving credit facilities was approximately $2.6 billion (net of $4.2 billion of capacity backstopping our commercial paper notes and $167 million of Revolving Credit Facility outstanding balance).

Financing of Issuer Solutions Acquisition

On April 17, 2025, we entered into a commitment letter (the "Bridge Commitment Letter") with Goldman Sachs Bank USA, Wells Fargo Bank, National Association and Wells Fargo Securities, LLC (the "Lenders") pursuant to which the Lenders committed to provide a 364-day senior unsecured bridge term loan facility in an aggregate principal amount of up to $8.0 billion, subject to customary conditions. On May 1, 2025, we entered into a credit agreement (the "Term Facility") with a group of lenders pursuant to which we could draw up to an aggregate principal amount of $8.0 billion of senior unsecured term loans to fund the Issuer Solutions Acquisition, subject to customary conditions. Upon entry into the Term Facility, all commitments under the Bridge Commitment Letter were reduced to $0 and the Bridge Commitment Letter was terminated in accordance with its terms. We funded the cash portion of the Issuer Solutions Acquisition by drawing $7.7 billion under the Term Facility on January 9, 2026. FIS repaid the Term Facility with new senior notes issued on March 10, 2026, as noted above, and the Term Facility was terminated in accordance with its terms. We expect our future cash paid for interest to increase from historic levels as a result of increased debt used to finance the Issuer Solutions Acquisition.

Fair Value of Debt

The fair value of the Company's long-term debt is estimated to be approximately $716 million and $619 million lower than the carrying value, excluding the fair value basis adjustments due to interest rate swaps and unamortized discounts, as of June 30, 2026, and December 31, 2025, respectively.