Remaining revenue recognition

[Table of Contents](#i84fa46872c0e4324b82e25f92cc079f4_7)FIDELITY NATIONAL INFORMATION SERVICES, INC.AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)  
Contract Balances  
The Company recognized revenue of $120 million and $106 million during the three months and $619 million and $614 million during the nine months ended September 30, 2022 and 2021, respectively, that was included in the corresponding deferred revenue balance at the beginning of the periods.  
Transaction Price Allocated to the Remaining Performance Obligations  
As of September 30, 2022, approximately $22.5 billion of revenue is estimated to be recognized in the future primarily from the Banking Solutions and Capital Market Solutions segments' remaining unfulfilled performance obligations, which are primarily comprised of recurring account- and volume-based processing services. This excludes the amount of anticipated recurring renewals not yet contractually obligated. The Company expects to recognize approximately 30% of the Banking Solutions and Capital Market Solutions segments' remaining performance obligations over the next 12 months, approximately another 21% over the next 13 to 24 months, and the balance thereafter.  
As permitted by ASC 606, Revenue from Contracts with Customers, the Company has elected to exclude from this disclosure an estimate for the Merchant Solutions segment, which is primarily comprised of contracts with an original duration of one year or less or variable consideration that meet specific criteria. This segment's core performance obligations consist of variable consideration under a stand-ready series of distinct days of service, and revenue from the segment's products and service arrangements are generally billed and recognized as the services are performed. The aggregate fixed consideration portion of customer contracts with an initial contract duration greater than one year is not material.  
(4)       Condensed Consolidated Financial Statement Details  
Cash and Cash Equivalents  
The Company records restricted cash in captions other than Cash and cash equivalents in the consolidated balance sheets. The reconciliation between Cash and cash equivalents in the consolidated balance sheets and Cash, cash equivalents and restricted cash per the consolidated statements of cash flows is as follows (in millions):

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | September 30,2022 |  | December 31,2021 |
| Cash and cash equivalents on the consolidated balance sheets | $ | 1,932  |  |  | $ | 2,010  |  |
| Merchant float (in Settlement assets) | 2,309  |  |  | 2,273  |  |
| Total Cash and cash equivalents and restricted cash per the consolidated statements of cash flows | $ | 4,241  |  |  | $ | 4,283  |  |

  
Settlement Assets and Payables  
The principal components of the Company's settlement assets and payables on the consolidated balance sheets are as follows (in millions):

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | September 30,2022 |  | December 31,2021 |
| Settlement assets |  |  |  |
| Settlement deposits | $ | 462  |  |  | $ | 530  |  |
| Merchant float | 2,309  |  |  | 2,273  |  |
| Settlement receivables | 1,588  |  |  | 1,217  |  |
| Total Settlement assets | $ | 4,359  |  |  | $ | 4,020  |  |
|  |  |  |  |
| Settlement payables | $ | 5,076  |  |  | $ | 5,295  |  |

   
  
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