FISERV INC (FISV): restructuring charge — Fiserv expects $400M-$600M non-cash impairment on WFMS joint venture expiring April 2025

FISERV INC

WFMS joint venture (40% owned) expires April 1, 2025; impairment charge of $400M-$600M expected in Q3 2024.
No material future cash expenditures from the charge; company does not expect impact on 2024 adjusted EPS.
Multiyear processing agreement signed with Wells Fargo for merchant clients post-expiration.
Medium-term outlook reaffirmed: organic revenue growth 9-12%, adjusted EPS growth 14-18% for 2025-2026.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

FISERV INC announced a impairment with charges of $400 million to $600 million affecting equity method investment in Wells Fargo Merchant Services (WFMS).

Type: impairment
Charge: $400 million to $600 million
Affected area: equity method investment in Wells Fargo Merchant Services (WFMS)

Exact text from the filing

joint venture, as determined in accordance with an agreed upon contractual valuation and separation process. The Company estimates the impairment charge to be in the range of $400 million to $600 million. This estimate is based on the Company’s estimate of the value of its portion of the joint venture and is subject to adjustment based on completion of the

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3 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

FISERV INC filing history →

Source: SEC EDGAR

accession 0001193125-24-226107

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