Revenue flow

Margins

Stage	FIS	% of rev	V	% of rev	Gap · A − B
Revenue	$3.5B	100.00%	$11.6B	100.00%	V ×3.37
Gross profit	$1.3B	37.03%	$9.2B	78.87%	V +41.8pp
Operating income	$660M	19.11%	$6.9B	59.12%	V +40.0pp
Pre-tax income	$447M	12.94%	$6.8B	58.74%	V +45.8pp
Net income	$357M	10.34%	$5.6B	48.38%	V +38.0pp

Stage	FIS	V	Gap · A − B
Revenue	$3.5B100.00%	$11.6B100.00%	V ×3.37
Gross profit	37.03%$1.3B	78.87%$9.2B	V +41.8pp
Operating income	19.11%$660M	59.12%$6.9B	V +40.0pp
Pre-tax income	12.94%$447M	58.74%$6.8B	V +45.8pp
Net income