0000798354-26-000009 | 10-K | XBRL Viewer

Distributions paid to noncontrolling interests

^[1]

3,103

3,068

^[2]

(8)

Acquisition of noncontrolling interest of consolidated subsidiary

^[3]

(59)

(65)

Other comprehensive income (loss)

396

406

(10)

Share-based compensation

342

Shares issued under stock plans (in shares)

(4)

Shares issued under stock plans

(49)

$ 207

(256)

Purchases of treasury stock (in shares)

Purchases of treasury stock

(4,744)

$ (4,744)

Balance at end of period (in shares) at Dec. 31, 2023

784

Balance at end of period (in shares) at Dec. 31, 2023

190

Balance at end of period at Dec. 31, 2023

30,508

$ 8

$ (12,915)

23,103

(783)

20,444

651

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Distributions paid to noncontrolling interests

^[1]

3,167

3,131

^[2]

(35)

Change in estimated redemption value of redeemable noncontrolling interest (see Note 13)

Other comprehensive income (loss)

(664)

(630)

(34)

Share-based compensation

367

Shares issued under stock plans (in shares)

(4)

Shares issued under stock plans

(174)

$ 282

(456)

Purchases of treasury stock (in shares)

Purchases of treasury stock

$ (5,549)

Balance at end of period (in shares) at Dec. 31, 2024

784

Balance at end of period (in shares) at Dec. 31, 2024

220

Balance at end of period at Dec. 31, 2024

$ 27,686

$ 8

$ (18,182)

23,080

(1,413)

23,575

618

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Distributions paid to noncontrolling interests

3,490

3,480

(10)

Acquisition of noncontrolling interest of consolidated subsidiary

^[4]

(408)

295

(703)

Other comprehensive income (loss)

526

429

Share-based compensation

357

Shares issued under stock plans (in shares)

(2)

Shares issued under stock plans

(236)

$ 236

(472)

Purchases of treasury stock (in shares)

Purchases of treasury stock

(5,601)

$ (5,601)

Capital contribution from noncontrolling interest

$ 5

Balance at end of period (in shares) at Dec. 31, 2025

784

Balance at end of period (in shares) at Dec. 31, 2025

250

Balance at end of period at Dec. 31, 2025

$ 25,809

$ 8

$ (23,547)

$ 23,260

$ (984)

$ 27,055

$ 17

[1]	The total net income presented in the consolidated statements of equity for the years ended December 31, 2024 and 2023 is different than the amount presented in the consolidated statements of income due to the net income attributable to a redeemable noncontrolling interest of $13 million and $26 million, respectively, not included in equity.
[2]	The total distributions presented in the consolidated statements of equity for the years ended December 31, 2024 and 2023 exclude $13 million and $26 million, respectively, in distributions paid to a redeemable noncontrolling interest not included in equity.
[3]	The Company acquired the remaining 49% ownership interest in European Merchant Services B.V., a Netherlands-based merchant acceptance business, during the year ended December 31, 2023. The Company previously held a majority controlling financial interest in this consolidated subsidiary.
[4]	The Company acquired the remaining 19% ownership interest in ICICI Merchant Services Private Limited, an India-based merchant acceptance business, and the remaining 49.9% ownership interest in AIB Merchant Services (“AIBMS”), an Ireland-based payment solutions provider, during the year ended December 31, 2025. The Company previously held a majority controlling financial interest in each of these consolidated subsidiaries (see Note 4).

Settlement Assets and Obligations (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Settlement assets
Cash and cash equivalents	$ 1,978	$ 1,756	$ 1,756
Receivables	14,501	13,673
Total settlement assets	$ 16,479	$ 15,429

Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
Goodwill (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 36,584	$ 37,205
Reallocation		0
Acquisitions	482
Foreign currency translation	637	(621)
Goodwill, ending balance	37,703	36,584
Operating segments \| Acceptance
Goodwill [Roll Forward]
Goodwill, beginning balance	0	21,568
Reallocation		(21,568)
Acquisitions	0
Foreign currency translation	0	0
Goodwill, ending balance	0	0
Operating segments \| Fintech
Goodwill [Roll Forward]
Goodwill, beginning balance	0	2,666
Reallocation		(2,666)
Acquisitions	0
Foreign currency translation	0	0
Goodwill, ending balance	0	0
Operating segments \| Payments
Goodwill [Roll Forward]
Goodwill, beginning balance	0	12,971
Reallocation		(12,971)
Acquisitions	0
Foreign currency translation	0	0
Goodwill, ending balance	0	0
Operating segments \| Merchant
Goodwill [Roll Forward]
Goodwill, beginning balance	22,341	0
Reallocation		22,850
Acquisitions	255
Foreign currency translation	510	(509)
Goodwill, ending balance	23,106	22,341
Operating segments \| Financial
Goodwill [Roll Forward]
Goodwill, beginning balance	14,243	0
Reallocation		14,355
Acquisitions	227
Foreign currency translation	127	(112)
Goodwill, ending balance	$ 14,597	$ 14,243

Revenue Recognition

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Significant Accounting Policy

ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”), outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers. The core principle, involving a five-step process, of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

Revenue is measured based on consideration specified in a contract with a customer and excludes any amounts collected on behalf of third parties. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Shipping and handling activities associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment activity and recognized as revenue at the point in time at which control of the goods transfers to the customer. As a practical expedient, the Company does not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between customer payment and the transfer of goods or services is expected to be one year or less.

Nature of Goods and Services

The Company’s operations are comprised of the Merchant and the Financial reportable segments (see Note 19). The following is a description of principal activities from which the Company generates its revenue. Contracts with customers are evaluated on a contract-by-contract basis as contracts may include multiple types of goods and services as described below.

Processing and Services

Processing and services revenue is generated from account- and transaction-based fees for merchant transaction processing and acquiring, electronic billing and payment services, electronic funds transfer and debit/credit processing services; consulting and professional services; merchant cash advances; and software maintenance for ongoing client support.

The Company recognizes processing and services revenue in the period in which the specific service is performed unless such service is not deemed distinct from other goods or services in which revenue would then be recognized as control is transferred of the combined goods and services. The Company’s arrangements for processing and services typically consist of an obligation to provide specific services to its customers on a when and if needed basis (a stand-ready performance obligation) and revenue is recognized from the satisfaction of the performance obligations in the amount billable to the customer. These services are typically provided under a fixed or declining (tier-based) price per unit based on volume of service; however, pricing for

services may also be based on fixed or monthly minimum processing fees. Fees for the Company’s processing and services arrangements are typically billed and paid on a monthly basis.

Product

Product revenue is generated from print and card production, software license, data and analytics, and hardware (primarily POS devices) sales.

For software license agreements that are distinct, the Company recognizes software license revenue upon delivery, assuming a contract is deemed to exist. Revenue for arrangements with customers that include significant customization, modification or production of software such that the software is not distinct is typically recognized over time based upon efforts expended, such as labor hours, to measure progress towards completion. For arrangements involving hosted licensed software for the customer, a software element is considered present to the extent the customer has the contractual right to take possession of the software at any time during the hosting period without significant penalty and it is feasible for the customer to either operate the software on their own hardware or contract with another vendor to host the software.

The Company maintains substantial volumes of payment and transaction data, providing insights into business and consumer activity. The Company accounts for the sales of distinct data and analytics as a separate performance obligation and recognizes the revenue at its standalone selling price when the customer obtains control of the analytical data.

The Company sells or leases hardware (POS devices) and other peripherals as part of its contracts with customers. Hardware typically consists of POS terminals or Clover® devices. The Company does not manufacture hardware; rather, it purchases hardware from third-party vendors and holds such hardware in inventory until purchased by a customer. The Company accounts for sales of distinct hardware as a separate performance obligation and recognizes the revenue at its standalone selling price when the customer obtains control of the hardware.

In certain instances, the Company may offer extended payment terms beyond one year. To the extent a significant financing component exists, it is calculated as the difference between the promised consideration and the present value of the product fees utilizing a discount rate reflective of a separate financing transaction, and is recognized as interest income over the extended payment period. The present value of the product fees is recognized as revenue at the point in time when the product is transferred to the customer.

Significant Judgments in Application of the Guidance

The Company uses the following methods, inputs and assumptions in determining amounts of revenue to recognize:

Identification of Performance Obligations

To identify its performance obligations, the Company considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. For multi-element arrangements, the Company accounts for individual goods or services as a separate performance obligation if they are distinct, the good or service is separately identifiable from other items in the arrangement and if a customer can benefit from it on its own or with other resources that are readily available to the customer. If these criteria are not met, the promised goods or services are accounted for as a combined performance obligation. Determining whether goods or services are distinct performance obligations that should be accounted for separately may require significant judgment.

Technology or service components from third parties are frequently embedded in or combined with the Company’s applications or service offerings. Whether the Company recognizes revenue based on the gross amount billed to a customer or the net amount retained involves judgment that depends on the relevant facts and circumstances, including the level of contractual responsibilities and obligations for delivering solutions to end customers, to determine whether control of goods and services is obtained prior to their transfer to a customer.

Determination of Transaction Price

The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring goods or services to the customer. The Company includes any fixed charges within its contracts as part of the total transaction price. To the extent that variable consideration is not constrained, the Company includes an estimate of the variable amount, as appropriate, within the total transaction price and updates its assumptions over the duration of the contract.

Assessment of Estimates of Variable Consideration

Many of the Company’s contracts with customers contain some component of variable consideration; however, the constraint will generally not result in a reduction in the estimated transaction price for most forms of variable consideration. The Company may constrain the estimated transaction price in the event of a high degree of uncertainty as to the final consideration amount owed.

Allocation of Transaction Price

The transaction price (including any discounts or rebates) is allocated between distinct goods and services in a multi-element arrangement based on their relative standalone selling prices. The standalone selling prices are determined based on the prices at which the Company separately sells each good or service. For items that are not sold separately, the Company estimates the standalone selling prices using available information such as market conditions and internally approved pricing guidelines. Judgment may be required to determine standalone selling prices for each performance obligation and whether it depicts the amount the Company expects to receive in exchange for the related good or service.

Contract Modifications

Contract modifications occur when the Company and its customers agree to modify existing customer contracts to change the scope or price (or both) of the contract or when a customer terminates some, or all, of the existing services provided by the Company. When a contract modification occurs, it requires the Company to exercise judgment to determine if the modification should be accounted for as (i) a separate contract, (ii) the termination of the original contract and creation of a new contract, or (iii) a cumulative catch up adjustment to the original contract. Further, contract modifications require the identification and evaluation of the performance obligations of the modified contract, including the allocation of consideration to the remaining performance obligations and the period of revenue recognition for each identified performance obligation.

Disaggregation of Revenue

The table below presents the Company’s revenue disaggregated by business line and includes a reconciliation with its reportable segments. The Company serves its global client base by working among its geographic teams across various regions, including the U.S. and Canada; Europe, Middle East and Africa (“EMEA”); Latin America (“LATAM”); and Asia Pacific (“APAC”). The majority of the Company’s revenue is earned in the U.S., with revenue generated within its EMEA, LATAM and APAC regions comprising approximately 16% of total revenue for the year ended December 31, 2025, and approximately 15% of total revenue for each of the years ended December 31, 2024 and 2023.


(In millions)	Year Ended December 31,
Revenue by Business Line	2025		2024		2023
Small Business	$	6,795	$	6,357	$	5,664
Enterprise	2,256		2,163		1,933
Processing	1,089		1,111		1,125
Total Merchant Solutions segment revenue	$	10,140	$	9,631	$	8,722
Digital Payments	$	3,945	$	3,869	$	3,655
Issuing	3,284		3,112		3,011
Banking	2,435		2,496		2,435
Total Financial Solutions segment revenue	$	9,664	$	9,477	$	9,101
Corporate and Other	$	1,389	$	1,348	$	1,270
Total Revenue (1)	$	21,193	$	20,456	$	19,093

(1)Total revenue includes $1.5 billion, $1.2 billion and $1.1 billion for the years ended December 31, 2025, 2024 and 2023, respectively, which represent revenue recognized outside the scope of ASC 606. Such revenue primarily consists of interest-related income earned on merchant and settlement anticipation cash advances, on short-term investments of subscriber funds and intermediary settlement cash balances, and lease income associated with POS terminal equipment.

Contract Balances

The following table provides information about contract assets and contract liabilities from contracts with customers:


	December 31,
(In millions)	2025		2024		2023
Contract assets	$	885	$	832	$	754
Contract liabilities	1,124		1,082		1,011

Contract assets, reported within other long-term assets in the consolidated balance sheets, primarily relate to customer discounts (contract incentives) where revenue is recognized and payment of consideration under the contract is contingent upon the transfer of services to a customer over the contractual period. Contract liabilities primarily relate to advance consideration received from customers (deferred revenue) for which transfer of control occurs, and therefore revenue is recognized, as services are provided. Contract balances are reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period.

During the years ended December 31, 2025 and 2024, contract assets increased primarily due to customer discounts (contract incentives) and contract liabilities increased primarily due to customer prepaid maintenance and deferred conversion/implementation revenue associated with long-term contracts obtained during the respective year. The Company recognized $819 million and $761 million of revenue during the years ended December 31, 2025 and 2024, respectively, that was included in the contract liabilities balance at the beginning of the year.

Transaction Price Allocated to Remaining Performance Obligations

The following table includes estimated processing and services revenue expected to be recognized in the future related to performance obligations that were unsatisfied (or partially unsatisfied) at December 31, 2025:


(In millions)
Year Ending December 31,
2026	$	2,537
2027	1,952
2028	1,411
2029	842
Thereafter	826

The Company applies the optional exemption under ASC 606 and does not disclose information about remaining performance obligations for account- and transaction-based processing fees that qualify for recognition under the as-invoiced practical expedient. These multi-year contracts contain variable consideration for stand-ready performance obligations for which the exact quantity and mix of transactions to be processed are contingent upon the customer’s request. The Company also applies the optional exemptions under ASC 606 and does not disclose information for variable consideration that is a sales-based or usage-based royalty promised in exchange for a license of intellectual property or that is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service in a series. The amounts disclosed above as remaining performance obligations consist primarily of fixed or monthly minimum processing fees and maintenance fees under contracts with an original expected duration of greater than one year.

Contract Costs

The Company incurs incremental costs to obtain a contract as well as costs to fulfill contracts with customers that are expected to be recovered. These costs consist of sales commissions incurred only if a contract is obtained, and customer conversion or implementation related costs. Capitalized sales commissions and conversion or implementation costs were as follows:


	December 31,
(In millions)	2025		2024
Capitalized sales commissions	$	481	$	483
Capitalized conversion or implementation costs	558		513

Capitalized contract costs are amortized based on the transfer of goods or services to which the asset relates. The amortization period also considers expected customer lives and whether the asset relates to goods or services transferred under a specific anticipated contract. The amortization of capitalized sales commissions is included in selling, general and administrative expenses and the amortization of capitalized conversion or implementation costs within cost of processing and services. Amortization totaled $228 million, $221 million and $195 million during the years ended December 31, 2025, 2024 and 2023, respectively. Impairment losses recognized during the years ended December 31, 2025, 2024 and 2023 related to capitalized contract costs were not significant.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 21,193	$ 20,456	$ 19,093
Revenue not from contract with customer	1,500	1,200	1,100
Operating segments
Disaggregation of Revenue [Line Items]
Revenue	19,804	19,108	17,823
Operating segments \| Merchant
Disaggregation of Revenue [Line Items]
Revenue	10,140	9,631	8,722
Operating segments \| Financial
Disaggregation of Revenue [Line Items]
Revenue	9,664	9,477	9,101
Corporate and Other
Disaggregation of Revenue [Line Items]
Revenue	$ 1,389	$ 1,348	$ 1,270
Geographic Concentration Risk \| Non-US \| Revenue from Contract with Customer Benchmark
Disaggregation of Revenue [Line Items]
Percentage of concentration risk	16.00%	16.00%	15.00%
Small Business \| Operating segments \| Merchant
Disaggregation of Revenue [Line Items]
Revenue	$ 6,795	$ 6,357	$ 5,664
Enterprise \| Operating segments \| Merchant
Disaggregation of Revenue [Line Items]
Revenue	2,256	2,163	1,933
Processing \| Operating segments \| Merchant
Disaggregation of Revenue [Line Items]
Revenue	1,089	1,111	1,125
Digital Payments \| Operating segments \| Financial
Disaggregation of Revenue [Line Items]
Revenue	3,945	3,869	3,655
Issuing \| Operating segments \| Financial
Disaggregation of Revenue [Line Items]
Revenue	3,284	3,112	3,011
Banking \| Operating segments \| Financial
Disaggregation of Revenue [Line Items]
Revenue	$ 2,435	$ 2,496	$ 2,435

Debt

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Debt

The Company’s debt consisted of the following:


	December 31,
(In millions)	2025		2024
Short-term and current maturities of long-term debt:
Foreign lines of credit	$	762	$	784
Finance lease and other financing obligations	477		326
Total short-term and current maturities of long-term debt	$	1,239	$	1,110

Long-term debt:






3.850% senior notes due June 2025	$	—	$	900
2.250% senior notes due July 2025 (British Pound-denominated)	—		661
3.200% senior notes due July 2026	2,000		2,000
5.150% senior notes due March 2027	750		750
2.250% senior notes due June 2027	1,000		1,000
1.125% senior notes due July 2027 (Euro-denominated)	589		521
5.450% senior notes due March 2028	900		900
2.875% senior notes due June 2028 (Euro-denominated)	883		—
5.375% senior notes due August 2028	700		700
4.200% senior notes due October 2028	1,000		1,000
3.500% senior notes due July 2029	3,000		3,000
4.750% senior notes due March 2030	850		850
2.650% senior notes due June 2030	1,000		1,000
1.625% senior notes due July 2030 (Euro-denominated)	589		521
4.550% senior notes due February 2031	1,000		—
5.350% senior notes due March 2031	500		500
4.500% senior notes due May 2031 (Euro-denominated)	942		835
3.000% senior notes due July 2031 (British Pound-denominated)	709		661
3.500% senior notes due June 2032 (Euro-denominated)	912		—
5.600% senior notes due March 2033	900		900
5.625% senior notes due August 2033	1,300		1,300
5.450% senior notes due March 2034	750		750
5.150% senior notes due August 2034	900		900
5.250% senior notes due August 2035	1,000		—
4.000% senior notes due June 2036 (Euro-denominated)	765		—
4.400% senior notes due July 2049	2,000		2,000
U.S. dollar commercial paper notes	326		221
Euro commercial paper notes	839		1,239
Revolving credit facility	188		115


Unamortized discount and deferred financing costs	(169)		(150)
Finance lease and other financing obligations	1,635		656
Total long-term debt	$	27,758	$	23,730

Annual maturities of the Company’s total debt were as follows at December 31, 2025:


(In millions)
Year Ending December 31,
2026	$	1,239
2027	2,804
2028	3,885
2029	3,364
2030	6,037
Thereafter	11,837
Total principal payments	29,166
Unamortized discount and deferred financing costs	(169)
Total debt	$	28,997

The Company was in compliance with all financial debt covenants during the year ended December 31, 2025.

Senior Notes

The Company has outstanding $24.9 billion of various fixed-rate senior notes, as described above. The indentures governing the Company’s senior notes contain covenants that, among other matters, limit (i) the Company’s ability to consolidate or merge with or into, or convey, transfer or lease all or substantially all of its properties and assets to, another person, (ii) the Company’s and certain of its subsidiaries’ ability to create or assume liens, and (iii) the Company’s and certain of its subsidiaries’ ability to engage in sale and leaseback transactions. The Company may, at its option, redeem the senior notes, in whole or in part, at any time and from time to time, at the applicable redemption price. Interest on the Company’s U.S. dollar-denominated senior notes is paid semi-annually, while interest on its Euro- and British Pound-denominated senior notes is paid annually. The interest rate applicable to certain of the senior notes is subject to an increase of up to two percent in the event that the credit rating assigned to such notes is downgraded below investment grade.

On August 11, 2025, the Company completed the public offering and issuance of $2.0 billion of senior notes, comprised of $1.0 billion aggregate principal amount of 4.550% senior notes due in February 2031 and $1.0 billion aggregate principal amount of 5.250% senior notes due in August 2035. Interest on these senior notes is paid semi-annually. The Company used the net proceeds from this senior notes offering for general corporate purposes, including the repayment of a portion of the Company’s commercial paper notes and for share repurchases.

On May 7, 2025, Fiserv Funding Unlimited Company, an indirect wholly owned subsidiary of the Company, completed the public offering and issuance of €2.175 billion of senior notes, comprised of €750 million aggregate principal amount of 2.875% senior notes due in June 2028, €775 million aggregate principal amount of 3.500% senior notes due in June 2032 and €650 million aggregate principal amount of 4.000% senior notes due in June 2036. These notes are fully and unconditionally guaranteed on a senior unsecured basis by the Company. Interest on these senior notes is paid annually. The Company used the net proceeds from this senior notes offering for general corporate purposes, including the repayment of a portion of the Company’s commercial paper notes, 3.850% senior notes due in June 2025 and 2.250% senior notes due in July 2025.

On August 12, 2024, the Company completed the public offering and issuance of $1.75 billion of senior notes, comprised of $850 million aggregate principal amount of 4.750% senior notes due in March 2030 and $900 million aggregate principal amount of 5.150% senior notes due in August 2034. Interest on these senior notes is paid semi-annually. The Company used the net proceeds from this senior notes offering for general corporate purposes, including the repayment of a portion of the Company’s commercial paper notes and for share repurchases.

On March 4, 2024, the Company completed the public offering and issuance of $2.0 billion of senior notes, comprised of $750 million aggregate principal amount of 5.150% senior notes due in March 2027, $500 million aggregate principal amount of 5.350% senior notes due in March 2031 and $750 million aggregate principal amount of 5.450% senior notes due in March 2034. Interest on these senior notes is paid semi-annually. The Company used the net proceeds from this senior notes offering for general corporate purposes, including the repayment of a portion of the Company’s commercial paper notes and for share repurchases, and in July 2024, the repayment of a portion of its 2.750% senior notes due in July 2024.

At December 31, 2025, the 3.200% senior notes due in July 2026 were classified in the consolidated balance sheet as long-term, as the Company has the ability to refinance such debt under its revolving credit facility.

Commercial Paper

The Company maintains unsecured U.S. dollar and Euro commercial paper programs. From time to time, the Company may issue under these programs U.S. dollar commercial paper with maturities of up to 397 days from the date of issuance and Euro commercial paper with maturities of up to 183 days from the date of issuance. Outstanding borrowings under the U.S. dollar program were $326 million and $221 million at December 31, 2025 and 2024, with weighted average interest rates of 3.851% and 4.534%, respectively. Outstanding borrowings under the Euro program were $839 million and $1.2 billion at December 31, 2025 and 2024, with weighted average interest rates of 2.210% and 3.115%, respectively. The Company intends to maintain available capacity under its revolving credit facility, as described below, in an amount at least equal to the aggregate outstanding borrowings under its commercial paper programs. Outstanding borrowings under the commercial paper programs are classified in the consolidated balance sheets as long-term as the Company has the intent to refinance this commercial paper on a long-term basis through the continued issuance of new commercial paper upon maturity, and the Company also has the ability to refinance such commercial paper under its revolving credit facility.

Revolving Credit Facility

On August 12, 2025, the Company entered into a new senior unsecured multicurrency revolving credit facility with substantially the same syndicate of banks that were leaders under its prior revolving credit facility, which the Company voluntarily terminated and replaced. The new credit facility matures in August 2030 and provides for a maximum aggregate principal amount of availability of $8.0 billion. Borrowings under the credit facility bear interest at a variable base rate, determined by the term and currency of the borrowing, plus a specified margin based on the Company’s long-term debt rating. Outstanding borrowings under the revolving credit facilities were $188 million and $115 million at December 31, 2025 and 2024, with corresponding interest rates of 4.685% and 5.440%, respectively. The new credit facility also requires the Company to pay a facility fee based on the aggregate commitments in effect under the agreement from time to time. The credit facility contains various restrictions and covenants that require the Company to, among other things, limit its consolidated indebtedness as of the end of each fiscal quarter to no more than 3.75 times the Company’s consolidated net income before interest, taxes, depreciation, amortization, non-cash charges and expenses and certain other adjustments during the period of four fiscal quarters then ended, subject to certain exceptions.

Foreign Lines of Credit

The Company maintains various short-term lines of credit and other borrowing arrangements with foreign banks and alliance partners primarily to fund merchant settlement advances associated with operations in Latin America through the Company’s settlement anticipation program. The following table provides a summary of the outstanding borrowings and weighted average interest rates of the Company’s foreign lines of credit and other borrowing arrangements by country at December 31:


	Outstanding Borrowings (In millions)				Weighted-Average Interest Rate
	2025		2024		2025		2024
Argentina	$	282	$	597	51.559	%	38.470	%
Brazil	365		94		15.482	%	12.976	%
Uruguay and Other	115		93		7.964	%	7.014	%
Total	$	762	$	784	27.727	%	31.695	%

Deferred Financing Costs

Deferred financing costs are amortized as a component of interest expense, net over the term of the underlying debt using the straight-line method. Deferred financing costs related to the Company’s senior notes totaled $114 million and $103 million at December 31, 2025 and 2024, respectively, and are reported as a direct reduction of the related debt instrument in the consolidated balance sheets. Deferred financing costs related to the Company’s revolving credit facility totaled $13 million and $5 million at December 31, 2025 and 2024, respectively, and are reported within other long-term assets in the consolidated balance sheets.

Business Segment Information - Schedule of Segment Reporting Information (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Sep. 30, 2025

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

Revenue:

$ 21,193

$ 20,456

$ 19,093

Expenses:

Income before income taxes and income (loss) from investments in unconsolidated affiliates

5,818

5,879

5,014

Interest expense, net

(1,493)

(1,195)

(976)

Other expense, net

(61)

(178)

(140)

4,264

4,506

3,898

Capital expenditures, including capitalized software and other intangibles

3,207

3,138

3,162

1,763

1,569

1,388

Change in estimated redemption value of redeemable noncontrolling interest (see Note 13)

$ 89

Processing and services revenue

Revenue:

^[1]

16,879

16,637

15,630

Product revenue

Revenue:

4,314

3,819

3,463

Operating segments

Revenue:

19,804

19,108

17,823

Expenses:

Operating segments | Merchant

7,882

8,046

7,152

Revenue:

Depreciation and amortization expense

10,140

9,631

8,722

Expenses:

Personnel expenses

1,385

1,298

1,321

Direct costs

3,488

3,164

2,906

438

367

328

682

592

564

3,502

3,561

2,974

Capital expenditures, including capitalized software and other intangibles

501

429

366

570

552

498

Change in estimated redemption value of redeemable noncontrolling interest (see Note 13)

Operating segments | Merchant | Processing and services revenue

Revenue:

Operating segments | Merchant | Product revenue

8,866

8,557

7,637

Revenue:

Operating segments | Financial

1,274

1,074

1,085

Revenue:

Depreciation and amortization expense

9,664

9,477

9,101

Expenses:

Personnel expenses

2,025

1,949

2,010

Direct costs

810

748

780

510

465

404

490

367

315

4,380

4,485

4,178

Capital expenditures, including capitalized software and other intangibles

679

628

560

682

614

525

Operating segments | Financial | Processing and services revenue

Revenue:

Operating segments | Financial | Product revenue

8,013

8,065

7,970

Revenue:

1,651

1,412

1,131

Corporate and Other

Revenue:

1,389

1,348

1,270

Expenses:

(2,064)

(2,167)

(2,138)

Capital expenditures, including capitalized software and other intangibles

2,027

2,081

2,236

511

403

365

Corporate and Other | Merchant

Expenses:

Corporate and Other | Financial

645

649

629

Expenses:

Derivative Instruments and Hedging Activities Disclosure [Abstract]

$ 1,449

$ 1,463

$ 1,414

[1]	Includes processing and other fees charged to related party investments accounted for under the equity method of $96 million, $137 million and $178 million for the years ended December 31, 2025, 2024 and 2023, respectively (see Note 18).

Debt - Schedule of Foreign Lines of Credit by Country (Details) - Foreign lines of credit - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Short-Term Debt [Line Items]
Outstanding Borrowings	$ 762	$ 784
Weighted-Average Interest Rate	27.727%	31.695%
Argentina
Short-Term Debt [Line Items]
Outstanding Borrowings	$ 282	$ 597
Weighted-Average Interest Rate	51.559%	38.47%
Brazil
Short-Term Debt [Line Items]
Outstanding Borrowings	$ 365	$ 94
Weighted-Average Interest Rate	15.482%	12.976%
Uruguay and Other
Short-Term Debt [Line Items]
Outstanding Borrowings	$ 115	$ 93
Weighted-Average Interest Rate	7.964%	7.014%

Revenue Recognition - Capitalized Sales Commissions and Conversion or Implementation Costs (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Sales Commissions
Capitalized Contract Cost [Line Items]
Capitalized contract costs	$ 481	$ 483
Conversion or Implementation Costs
Capitalized Contract Cost [Line Items]
Capitalized contract costs	$ 558	$ 513

Derivatives and Hedging Instruments (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Notional Amounts of Outstanding Derivative Positions

The aggregate notional amount of the fixed-to-fixed cross-currency rate swap contracts were as follows:


	December 31,
(In millions)	2025	2024
Currency
Euros	940	600
Singapore Dollars	828	841
Canadian Dollars	405	259

Schedule of net investment hedges in accumulated other comprehensive income (loss)

Foreign currency transaction gains (losses), net of income tax, related to net investment hedges that were recorded as foreign currency translation within other comprehensive income (loss) in the consolidated statements of comprehensive income were as follows:



	Year Ended December 31,
(In millions)	2025		2024		2023
Cross-currency rate swap contracts	$	(85)	$	32	$	(29)
Foreign currency-denominated debt	(328)		166		(177)

Income Taxes - Reconciliation of Statutory Federal Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%
State income taxes, net of federal effect	2.50%	2.60%	2.80%
Foreign derived intangibles income deduction		0.00%	(0.40%)
Excess tax benefit from share-based awards	(1.30%)	(1.30%)	(0.80%)
Sale of businesses and subsidiary restructuring		(0.20%)	(1.30%)
Unrecognized tax benefits	0.10%	0.00%	(0.20%)
Nondeductible executive compensation		0.30%	0.20%
Transferable federal tax credits		(2.30%)	(1.40%)
Non-cash impairment charge (see Note 8)		(2.90%)	0.00%
Valuation allowance		(1.00%)	(0.60%)
Other adjustments	0.20%	(2.00%)	0.00%
Effective income tax rate	19.00%	14.20%	19.30%

Income Taxes - Effective Tax Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Amount
U.S. federal statutory income tax rate	$ 896
State and local income taxes	107
Effect of cross-border tax laws	22
Transferable federal tax credits	(96)
Foreign tax credits	(66)
Other tax credits	(14)
Excess tax benefit from share-based awards	(55)
Other nontaxable or nondeductible items	18
Other adjustments	10
Other foreign jurisdictions	(14)
Changes in unrecognized tax benefits	3
Income tax provision	$ 811	$ 641	$ 754
Percent
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%
State and local income taxes	2.50%	2.60%	2.80%
Effect of cross-border tax laws	0.50%
Transferable federal tax credits	(2.30%)
Foreign tax credits	(1.50%)
Other tax credits	(0.30%)
Excess tax benefit from share-based awards	(1.30%)	(1.30%)	(0.80%)
Other nontaxable or nondeductible items	0.40%
Other adjustments	0.20%	(2.00%)	0.00%
Other foreign jurisdictions	(0.30%)
Unrecognized tax benefits	0.10%	0.00%	(0.20%)
Effective income tax rate	19.00%	14.20%	19.30%

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary of restricted stock and performance activity

A summary of restricted stock unit, restricted stock award and performance share unit activity during the year ended December 31, 2025 is as follows:


	Restricted Stock Units and Awards			Performance Share Units
	Shares (In thousands)	Weighted- Average Grant Date Fair Value		Shares (In thousands)	Weighted- Average Grant Date Fair Value
Units and awards - December 31, 2024	4,716	$	124.78	1,966	$	116.62

Granted	2,103	214.39		1,115	203.92
Forfeited	(371)	168.42		(204)	132.41
Vested	(2,558)	124.01		(626)	111.14
Units and awards - December 31, 2025	3,890	$	156.58	2,251	$	138.57

Summary of stock option activity

A summary of stock option activity during the year ended December 31, 2025 is as follows:


	Shares (In thousands)	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In millions)
Stock options outstanding - December 31, 2024	1,586	$	89.65



Exercised	(827)	88.56
Stock options outstanding - December 31, 2025	759	$	90.84	3.30	$	5
Stock options exercisable - December 31, 2025	759	$	90.84	3.30	$	5

Schedule of additional information related to stock option and restricted stock unit activity

The table below presents additional information related to stock option and restricted stock unit activity:


(In millions)	2025		2024		2023
Total intrinsic value of stock options exercised	$	99	$	212	$	177
Fair value of restricted stock units and awards vested	684		554		267
Income tax benefit from stock options exercised and restricted stock units and awards vested	131		175		101
Cash received from stock options exercised	23		56		62

Summary of Significant Accounting Policies - Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Product development expenditures as percentage of total revenue	7.00%	6.00%	7.00%
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	10 years
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	20 years
Acquired software and technology \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	4 years
Acquired software and technology \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	10 years
Trade names \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	8 years
Trade names \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	20 years
Non-Compete Agreement \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	5 years
Purchased software
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	5 years
Capitalized software and other intangibles
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	5 years
Merchant portfolios \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	5 years
Merchant portfolios \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	9 years

Redeemable Noncontrolling Interests - Narrative (Details) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2025 joint_venture
Noncontrolling Interest [Line Items]
Change in estimated redemption value of redeemable noncontrolling interest (see Note 13) \| $	$ 89	$ 66
First Data Joint Venture
Noncontrolling Interest [Line Items]
Ownership percentage by noncontrolling owner			1.00%
First Data
Noncontrolling Interest [Line Items]
Number of redeemable noncontrolling interests \| joint_venture			1

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Description of the Business

Fiserv, Inc. and its subsidiaries (collectively, the “Company”) is a leading global provider of payments and financial services technology solutions, serving clients around the globe, including merchants, banks, credit unions, other financial institutions, corporate and public sector clients. The Company provides account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale (“POS”) and business management platform. The Company’s reportable segments are Merchant Solutions (“Merchant”) and Financial Solutions (“Financial”).

Principles of Consolidation

The consolidated financial statements include the accounts of Fiserv, Inc. and its subsidiaries in which the Company holds a majority controlling financial interest. All intercompany transactions and balances between the Company and its subsidiaries have been eliminated in consolidation. Control is typically established when ownership and voting interests in an entity are greater than 50%. Investments in which the Company has significant influence but not control are accounted for using the equity method of accounting, for which the Company’s share of net income or loss is reported within income (loss) from investments in unconsolidated affiliates, and the related tax expense or benefit is reported within the income tax provision in the consolidated statements of income. Significant influence over an affiliate’s operations generally coincides with an ownership interest of between 20% and 50%; for partnerships and limited liability companies, an ownership interest of between 3% and 50%; or board of director representation may also constitute significant influence.

Noncontrolling interests in entities of which the Company maintains a majority controlling financial interest represent the minority shareholders’ share of the net income or loss and equity in consolidated subsidiaries. The Company’s noncontrolling interests presented in the consolidated statements of income include net income (loss) attributable to noncontrolling interests and, in 2024 and 2023, a redeemable noncontrolling interest. Noncontrolling interests are presented as a component of equity in the consolidated balance sheets. Additional information regarding the Company’s redeemable noncontrolling interest is included in Note 13 to the consolidated financial statements.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S.”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates.

Revenue Recognition

The Company generates revenue from the delivery of processing, service and product solutions. Revenue is measured based on consideration specified in a contract with a customer, and excludes any amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer which may be at a point in time or over time. Additional information regarding the Company’s revenue recognition policies is included in Note 3 to the consolidated financial statements.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and investments with original maturities of 90 days or less and are stated at cost in the consolidated balance sheets, which approximates market value. Cash and cash equivalents held on behalf of merchants and other payees are included in settlement assets in the consolidated balance sheets. The changes in settlement cash and cash equivalents are included in settlement activity, net within cash flows from financing activities in the consolidated statements of cash flows. Cash and cash equivalents that are restricted from use due to contractual or legal restrictions are included in other long-term assets in the consolidated balance sheets.

The following table provides a reconciliation between cash and cash equivalents on the consolidated balance sheets and the consolidated statements of cash flows:


	December 31,
(In millions)	2025		2024		2023
Cash and cash equivalents on the consolidated balance sheets	$	798	$	1,236	$	1,204
Cash and cash equivalents included in settlement assets (see Note 5)	1,978		1,756		1,756
Restricted cash	26		1		3
Total cash and cash equivalents on the consolidated statements of cash flows	$	2,802	$	2,993	$	2,963

Allowance for Doubtful Accounts

The Company analyzes the collectability of trade accounts receivable by considering historical bad debts and issued client credits, client creditworthiness, current economic trends, changes in client payment terms and collection trends when evaluating the adequacy of the allowance for doubtful accounts. Any change in the assumptions used in analyzing a specific account receivable may result in an additional allowance for doubtful accounts being recognized in the period in which the change occurs. The allowance for doubtful accounts was $84 million and $71 million at December 31, 2025 and 2024, respectively.

Leases

Leases are classified as operating or finance leases based on factors such as the lease term, lease payments, and the economic life, fair value and estimated residual value of the asset. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized on the commencement date based on the present value of lease payments over the lease term. As a practical expedient, lease agreements with lease and non-lease components are accounted for as a single lease component for all asset classes. Leases with a term of 12 months or less are not recorded on the consolidated balance sheets; instead, lease payments are recognized as lease expense on a straight-line basis over the lease term.

The Company maintains certain leasing receivables associated with its POS terminal leasing businesses. Leasing receivables are included in prepaid expenses and other current assets (current portion) and other long-term assets (noncurrent portion) in the consolidated balance sheets. Interest income on the Company’s leasing receivables is recognized using the effective interest method, and is included within product revenue in the consolidated statements of income. Initial direct costs incurred to obtain operating leases are deferred and recognized over the lease term. Initial direct costs to obtain a sales-type lease are expensed as incurred if the fair value of the underlying asset is different from its carrying amount at the lease commencement date. Additional information regarding the Company’s lease policies is included in Note 11 to the consolidated financial statements.

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	December 31,
(In millions)	2025		2024
Prepaid maintenance, postage and insurance	$	334	$	216


Other prepaid expenses	269		188
Total prepaid expenses (1)	603		404

Income tax receivables (2)	148		501
Net merchant cash advances, including Clover Capital program	564		381
Settlement anticipation cash advances	1,223		1,101
Other current assets	858		700
Total other current assets	2,793		2,683
Total prepaid expenses and other current assets	$	3,396	$	3,087

(1)Prepaid expenses represent advance payments for goods and services to be consumed in the future.

(2)Includes receivables associated with transferable federal tax credits (see Note 16).

The Company offers merchants advance access to capital, primarily through its Clover Capital program. Under this program, merchants sell fixed amounts of their future credit card receivables to the Company in exchange for an up-front purchase price payment. Future credit card receivables purchased by the Company under its merchant cash advance programs, including Clover Capital, were $598 million and $397 million at December 31, 2025 and 2024, respectively. The Company maintained a reserve of $34 million and $16 million at December 31, 2025 and 2024, respectively, based on an estimate of uncollectible amounts. For the year ended December 31, 2025, merchant cash advances, which are generally collected over a period of six to twelve months, are presented on a gross basis within investing activities in the consolidated statement of cash flows. For the year ended December 31, 2024, merchant cash advances were presented on a net basis, along with settlement anticipation cash advances as described below, within investing activities in the consolidated statement of cash flows.

The Company also offers merchants within its international operations advance access to capital through its settlement anticipation program. Under this program, the Company provides merchants the opportunity to receive settlement cash payments in advance in exchange for their receivables from card issuers, including when cardholders have elected to pay over time in installments. These local currency denominated arrangements are primarily associated with the Company’s operations in Latin America, the most significant of which are denominated in Argentine Peso and Brazilian Real. Settlement anticipation cash advances, the majority of which are collected within 30 days, are presented on a net basis within investing activities in the consolidated statements of cash flows.

Settlement Assets and Obligations

Settlement assets and obligations represent intermediary balances arising from the settlement process, which involves the transfer of funds among card issuers, payment networks, processors, merchants and consumers, and collateral amounts held to manage merchant credit risk, primarily associated with the Company’s merchant acquiring services. As a processor, the Company facilitates the clearing and settlement activity for the merchant and records settlement assets and obligations upon processing a payment transaction. Settlement assets represent cash received or amounts receivable from agents, payment networks, bank partners, merchants or direct consumers. Settlement obligations represent amounts payable to merchants and payees.

Certain merchant settlement assets (included within settlement receivables) that relate to settlement obligations are held by partner banks. Although the Company does not have legal ownership of these assets, it has the right to use them to satisfy the related settlement obligations. The Company records settlement obligations for amounts payable to merchants and for outstanding payment instruments issued to payees that have not yet been presented for settlement. Additional information regarding the Company’s settlement assets and obligations is included in Note 5 to the consolidated financial statements.

Allowance for Merchant Credit Losses

With respect to the Company’s merchant acquiring business, the Company’s merchant customers have the legal obligation to refund any charges properly reversed by the cardholder. However, in the event the Company is not able to collect the refunded amounts from the merchants, the Company may be liable for the reversed charges. The Company’s risk in this area primarily relates to situations where a cardholder has purchased goods or services to be delivered in the future. The Company requires cash deposits, guarantees, letters of credit or other types of collateral from certain merchants to mitigate this risk. Collateral held by the Company, or held by partner banks for the Company’s benefit, is classified within settlement assets, and the obligation to repay the collateral is classified within settlement obligations in the consolidated balance sheets. The amount of merchant collateral available to the Company was $588 million and $598 million at December 31, 2025 and 2024, respectively. The Company also utilizes a number of systems and procedures to manage merchant credit risk. Despite these efforts, the Company experiences losses due to merchant defaults. The aggregate merchant credit loss expense, recognized by the Company within cost of processing and services in the consolidated statements of income, was $128 million, $108 million and $80 million for the years ended December 31, 2025, 2024 and 2023, respectively.

The Company maintains an allowance for merchant credit losses that are expected to exceed the amount of merchant collateral. The allowance includes estimated losses from anticipated chargebacks and fraud events that have been incurred on merchant payment transactions that have been processed but not yet reported to the Company, which is recorded within accounts payable and other current liabilities in the consolidated balance sheets, as well as estimated losses on refunded amounts to cardholders that have not yet been collected from the merchants, which is recorded within prepaid expenses and other current assets in the consolidated balance sheets. The allowance is based primarily on the Company’s historical experience of credit losses and other factors such as changes in economic conditions or increases in merchant fraud. The aggregate merchant credit loss allowance was $46 million and $40 million at December 31, 2025 and 2024, respectively.

Property and Equipment

Property and equipment is reported at cost. Depreciation of property and equipment is computed primarily using the straight-line method over the shorter of the estimated useful life of the asset or the leasehold period, if applicable.

Property and equipment consisted of the following:


		December 31,
(In millions)	Estimated Useful Lives	2025		2024
Land	—	$	44	$	44
Data processing equipment	3 to 5 years	4,812		3,789
Buildings and leasehold improvements	5 to 40 years	865		845
Furniture and equipment	5 to 8 years	417		394
		6,138		5,072
Less: Accumulated depreciation		(3,054)		(2,698)
Total		$	3,084	$	2,374

Depreciation expense for all property and equipment totaled $669 million, $589 million and $566 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Intangible Assets

Customer related intangible assets represent customer contracts and relationships obtained as part of acquired businesses and are amortized using an accelerated amortization method which corresponds with the customer attrition rates used in the initial valuation of the intangibles over their estimated useful lives, generally ten to twenty years. Acquired software and technology represents software and technology intangible assets obtained as part of acquired businesses and is amortized using the straight-line method over their estimated useful lives, generally four to ten years. Trade names are amortized using the straight-line method over their estimated useful lives, generally eight to twenty years. Non-compete agreements are amortized using the straight-line method over their estimated useful lives, generally five years.

Purchased software represents software licenses purchased from third parties and is amortized using the straight-line method over their estimated useful lives, generally five years.

The Company continually develops, maintains and enhances its products and systems. Product development expenditures represented approximately 7%, 6% and 7% of the Company’s total revenue for the years ended December 31, 2025, 2024 and 2023, respectively. Research and development costs incurred prior to the establishment of technological feasibility are expensed as incurred. Routine maintenance of software products, design costs and other development costs incurred prior to the establishment of a product’s technological feasibility are also expensed as incurred. Costs are capitalized commencing when the technological feasibility of the software has been established.

Capitalized software development costs represent the capitalization of certain costs incurred to develop new software or to enhance existing software which is marketed externally or utilized by the Company to process client transactions. Capitalized software development costs are amortized using the straight-line method over their estimated useful lives, generally five years.

The Company may, at its discretion, negotiate to pay an independent sales organization (“ISO”) an agreed-upon up-front amount in exchange for the ISO’s surrender of its right to receive commission payments from the Company related to future transactions of merchants referred by the ISO (“residual buyout”). The Company may also obtain residual buyouts as part of acquired businesses. The amount that the Company pays for these residual buyouts is capitalized and subsequently amortized using the straight-line method over the expected life of the merchant portfolios, generally five to nine years. Additional information regarding the Company’s identifiable intangible assets is included in Note 6 to the consolidated financial statements.

Goodwill

Goodwill represents the excess of purchase price over the fair value of identifiable assets acquired and liabilities assumed in a business combination. The Company evaluates goodwill for impairment on an annual basis, or more frequently if circumstances indicate possible impairment. Goodwill is tested for impairment at a reporting unit level, which is one level below the Company’s operating segments. When assessing goodwill for impairment, the Company considers (i) the prior year’s amount of excess fair value over the carrying value of each reporting unit, (ii) the period of time since a reporting unit’s last quantitative

test, (iii) the extent a reorganization or disposition changes the composition of one or more of the reporting units and (iv) other prevailing factors to determine whether or not to first perform a qualitative test. When performing a qualitative test, the Company assesses numerous factors to determine whether it is more likely than not that the fair value of its reporting units is less than their respective carrying values. Examples of qualitative factors that the Company assesses include its share price, its financial performance, market and competitive factors in its industry and other events specific to its reporting units. If the Company concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying value, the Company performs a quantitative impairment test by comparing reporting unit carrying values to estimated fair values.

During its annual impairment assessment as of October 1, 2025, the Company performed a quantitative test for each of its reporting units and determined that its goodwill was not impaired as the estimated fair values exceeded the respective carrying values for each of the Company’s reporting units. Subsequently, the Company determined that a triggering event occurred during the fourth quarter of 2025 due to a sustained decline in its stock price, and therefore performed an additional quantitative goodwill impairment test of all reporting units as of December 31, 2025. The Company determined that its goodwill was not impaired as of December 31, 2025 as the estimated fair values exceeded the respective carrying values for each of the Company’s reporting units. However, it is reasonably possible that future developments related to the interest or currency exchange rate environments; a shift in strategic initiatives; a deterioration in financial performance within a particular reporting unit; sustained decreases in the Company’s stock price; or significant changes in the composition of, or assumptions used in, the quantitative test for certain of the Company’s reporting units (such as an increase in risk-adjusted discount rates) could have a material impact on one or more of the estimates and assumptions used to evaluate goodwill impairment in subsequent periods. There is no accumulated goodwill impairment for the Company through December 31, 2025. Additional information regarding the Company’s goodwill is included in Note 7 to the consolidated financial statements.

Asset Impairment

The Company reviews property and equipment, ROU assets, intangible assets and its investments in unconsolidated affiliates for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. The Company reviews capitalized software development costs for impairment at each reporting date. In connection with the goodwill impairment assessment triggering event in the fourth quarter of 2025 as described above, the Company performed an additional test of the recoverability of its aforementioned assets and determined no impairment as of December 31, 2025.

Recoverability of property and equipment, lease ROU assets, capitalized software development costs and other intangible assets is assessed by comparing the carrying amount of the asset group to either the undiscounted future cash flows expected to be generated by the asset group or the net realizable value of the asset group, depending on the type of asset group. The Company assesses lease ROU assets that are exited in advance of the non-cancellable lease terms by comparing the carrying values of the lease ROU assets to the discounted cash flows from estimated sublease payments. The Company’s investments in unconsolidated affiliates are assessed by comparing the carrying amount of the investments to their estimated fair values and are impaired if any decline in fair value is determined to be other-than-temporary. Measurement of any impairment loss is based on estimated fair value. The estimated fair values of the Company’s investments in unconsolidated merchant alliances assume a continuation beyond the existing contractual term; however, a renewal of certain of the merchant alliance agreements beyond the current contractual term is not solely within the Company’s control. Additional information regarding the Company’s investments in unconsolidated affiliates is included in Note 8 to the consolidated financial statements.

Fair Value Measurements

The Company applies fair value accounting for all assets and liabilities that are recognized or disclosed at fair value in its consolidated financial statements on a recurring basis. Fair value represents the amount that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, the Company uses the hierarchy prescribed in Accounting Standards Codification (“ASC”) 820, Fair Value Measurements, and considers the principal or most advantageous market and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability. The three levels in the hierarchy are as follows:

•Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that are accessible as of the measurement date.

•Level 2 – Inputs other than quoted prices within Level 1 that are observable either directly or indirectly, including but not limited to quoted prices in markets that are not active, quoted prices in active markets for similar assets or liabilities and observable inputs other than quoted prices such as interest rates or yield curves.

•Level 3 – Unobservable inputs reflecting management’s judgments about the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk.

Additional information regarding the Company’s fair value measurements is included in Note 10 to the consolidated financial statements.

Accounts Payable and Other Current Liabilities

Accounts payable and other current liabilities consisted of the following:


	December 31,
(In millions)	2025		2024
Trade accounts payable	$	797	$	511
Client deposits	988		985
Transferable federal tax credits (see Note 16)	801		866
Accrued compensation and benefits	299		296
Accrued taxes	368		261
Accrued interest	417		335
Accrued payment network fees	297		253
Operating lease liabilities	126		116
Accrued professional fees	161		102
Obligation to purchase redeemable noncontrolling interest (see Note 13)	—		95
Other accrued expenses	1,053		979
Total	$	5,307	$	4,799

Foreign Currency

The U.S. dollar is the functional currency of the Company’s U.S.-based and certain foreign-based businesses. Where the functional currency of subsidiaries differs from the U.S. dollar, assets and liabilities are translated into U.S. dollars at the exchange rates in effect at the balance sheet date. Revenue and expenses are translated at the average exchange rates during the reporting period. Gains and losses from foreign currency translation are recorded as a separate component of accumulated other comprehensive loss. Gains and losses from foreign currency transactions are included in determining net income for the reporting period.

Financial statements of subsidiaries located in highly inflationary economies outside of the U.S. are remeasured into U.S. dollars, and the foreign currency gains and losses from the remeasurement of monetary assets and liabilities are reflected in the consolidated statements of income, rather than as foreign currency translation within accumulated other comprehensive loss in the consolidated balance sheets. The remeasurement of monetary assets and liabilities in highly inflationary economies, including Argentina, resulted in foreign currency exchange losses of $158 million, $98 million and $164 million during the years ended December 31, 2025, 2024 and 2023, respectively, which is included within other expense, net in the consolidated statements of income.

To reduce exposure to changes in the value of the Company’s net investments in certain of its foreign currency-denominated subsidiaries due to changes in foreign currency exchange rates, the Company uses fixed-to-fixed cross-currency rate swap contracts and foreign currency-denominated debt as economic hedges of its net investments in such foreign currency-denominated subsidiaries. Foreign currency transaction gains or losses on the qualifying net investment hedge instruments are recorded as foreign currency translation, net of tax, within other comprehensive income (loss) in the consolidated statements of comprehensive income and will remain in accumulated other comprehensive loss within the consolidated balance sheets until the sale or complete liquidation of the underlying foreign currency-denominated subsidiaries.

Derivatives

Derivatives are entered into for periods consistent with related underlying exposures and are recorded in the consolidated balance sheets as either an asset or liability measured at fair value. If the derivative is designated as a cash flow hedge, changes in the fair value of the derivative are recorded as a component of accumulated other comprehensive loss and recognized in the consolidated statements of income when the hedged item affects earnings. If the derivative is designated as a net investment hedge, changes in the fair value of the derivative, net of tax, are recorded in the foreign currency translation component of other comprehensive income (loss) until the sale or complete liquidation of the underlying net investment. If the derivative is

designated as a fair value hedge, changes in the fair value of the derivative are recorded in the same line item as the changes in the fair value of the hedged item and recognized in the consolidated statements of income. To the extent a derivative is not designated as a hedge, changes in fair value are recognized in the consolidated statements of income. The Company’s policy is to enter into derivatives as economic hedges with creditworthy institutions to limit exposure to changing interest rates and foreign currency rate fluctuations, and not to enter into such derivatives for speculative purposes. Additional information regarding the Company’s derivatives and hedging instruments is included in Note 9 to the consolidated financial statements.

Employee Benefit Plans

Defined Contribution Plans

The Company and its subsidiaries maintain defined contribution savings plans covering the majority of its employees. Under the plans, eligible participants may elect to contribute a specified percentage of their salaries and the Company makes matching contributions, each subject to certain limitations. The plans provide tax-deferred amounts for each participant, consisting of employee elective contributions, company matching and discretionary company contributions. Company matching contributions are 100% on the first 1% contributed and 50% on the next 4% contributed for eligible participants. Expenses for company contributions under these plans totaled $77 million, $81 million, and $78 million for the years ended December 31, 2025, 2024 and 2023, respectively. Effective January 1, 2026, Company matching contributions were increased to 100% on the first 2% contributed and 50% on the next 4% contributed for eligible participants.

Defined Benefit Pension Plans

The Company maintained frozen noncontributory defined benefit pension plans covering certain of its employees in the U.S. and United Kingdom (“U.K.”), which were terminated in September 2023. In March 2024, the Company entered into a group annuity insurance contract to provide for the administration of future payments to eligible plan participants of the terminated U.K. plan. In connection with the buy-in of this insurance policy, the plan’s projected benefit obligation was remeasured in the first quarter of 2024 to the value of the group annuity insurance contract, resulting in an unrecognized loss, net of tax, of $63 million recorded in accumulated other comprehensive loss within the consolidated balance sheet.

Upon the settlement of the terminated plans, which was completed in the fourth quarter of 2024, the Company funded a plan termination liability shortfall for the U.S. defined benefit pension plan of $20 million and recognized a non-cash pre-tax pension settlement charge for the U.S. and U.K. plans of $147 million. The Company received a refund, net of excise tax, of $43 million of residual surplus related to the U.K. plan in the second quarter of 2025.

Cost of Processing, Services and Product

Cost of processing and services consists of costs directly associated with providing services to clients and includes the following: personnel; equipment and data processing; facility costs, including costs to maintain software applications; client support; certain depreciation and amortization; and other operating expenses.

Cost of product consists of costs directly associated with the products sold and includes the following: costs of materials and postage; hardware costs (primarily POS devices); personnel; facility costs; certain depreciation and amortization; and other costs directly associated with product revenue.

Selling, General and Administrative Expenses

Selling, general and administrative expenses primarily consist of: salaries, wages, commissions and related expenses paid to sales personnel, administrative employees and management; third-party commissions and payments to distribution partners; marketing costs; certain depreciation and amortization; and other selling and administrative expenses.

Interest Expense, Net

Interest expense, net consists of interest expense primarily associated with the Company’s outstanding borrowings and finance lease obligations, as well as interest income primarily associated with the Company’s investment securities. Interest expense, net consisted of the following:


	Year Ended December 31,
(In millions)	2025		2024		2023
Interest expense	$	(1,531)	$	(1,238)	$	(1,004)
Interest income	38		43		28
Interest expense, net	$	(1,493)	$	(1,195)	$	(976)

Income Taxes

Deferred tax assets and liabilities are recognized for the expected future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax basis, and net operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which such temporary differences are expected to be recovered or settled. A valuation allowance is recorded against deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized.

Liabilities are established for unrecognized tax benefits, attributable to differences between a tax position taken or expected to be taken in a tax return and the benefit recognized in the financial statements. In establishing a liability for an unrecognized tax benefit, assumptions are made in determining whether, and the extent to which, a tax position will be sustained. A tax position is recognized only when it is more likely than not to be sustained upon examination by the relevant taxing authority, based on its technical merits. The amount of tax benefit recognized reflects the largest benefit the Company believes is more likely than not to be realized upon ultimate settlement. As additional information becomes available, the liability for unrecognized tax benefits is reevaluated and adjusted, as appropriate. Tax benefits ultimately realized can differ from amounts previously recognized due to uncertainties, with any such differences generally impacting the provision for income tax. Additional information regarding the Company’s income taxes is included in Note 16 to the consolidated financial statements.

Net Income Per Share

Net income per share attributable to Fiserv, Inc. in each year is calculated using actual, unrounded amounts. Basic net income per share is computed by dividing net income attributable to Fiserv, Inc. by the weighted-average number of common shares outstanding during the year. Diluted net income per share is computed by dividing net income attributable to Fiserv, Inc. by the weighted-average number of common shares and common stock equivalents outstanding during the year. Common stock equivalents consist of unvested restricted stock units, unvested restricted stock awards and outstanding stock options, and are computed using the treasury stock method. In 2025, restricted stock units for 1.0 million shares were excluded from the calculation of weighted-average outstanding shares - diluted because their impact was anti-dilutive. In 2024 and 2023, restricted stock units excluded from the calculation of weighted-average outstanding shares - diluted were not significant.

The computation of shares used in calculating basic and diluted net income per share is as follows:


	Year Ended December 31,
(In millions)	2025	2024	2023
Weighted-average common shares outstanding used for the calculation of net income attributable to Fiserv, Inc. per share – basic	547.1	578.7	611.7
Common stock equivalents	1.9	3.4	4.2
Weighted-average common shares outstanding used for the calculation of net income attributable to Fiserv, Inc. per share – diluted	549.0	582.1	615.9

Supplemental Cash Flow Information

Supplemental cash flow information consisted of the following:


	Year Ended December 31,
(In millions)	2025		2024		2023
Interest paid	$	1,408	$	1,153	$	879
Net income taxes paid, including transferable federal tax credits	1,369		1,169		1,219
Treasury stock purchases settled after the balance sheet date	—		—		29
Software and other intangible assets obtained under financing arrangements	578		151		188
Hardware obtained under financing arrangements	202		—		—

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Schedule of cash and cash equivalents

The following table provides a reconciliation between cash and cash equivalents on the consolidated balance sheets and the consolidated statements of cash flows:


	December 31,
(In millions)	2025		2024		2023
Cash and cash equivalents on the consolidated balance sheets	$	798	$	1,236	$	1,204
Cash and cash equivalents included in settlement assets (see Note 5)	1,978		1,756		1,756
Restricted cash	26		1		3
Total cash and cash equivalents on the consolidated statements of cash flows	$	2,802	$	2,993	$	2,963

Restrictions on cash and cash equivalents

The following table provides a reconciliation between cash and cash equivalents on the consolidated balance sheets and the consolidated statements of cash flows:


	December 31,
(In millions)	2025		2024		2023
Cash and cash equivalents on the consolidated balance sheets	$	798	$	1,236	$	1,204
Cash and cash equivalents included in settlement assets (see Note 5)	1,978		1,756		1,756
Restricted cash	26		1		3
Total cash and cash equivalents on the consolidated statements of cash flows	$	2,802	$	2,993	$	2,963

Deferred costs, capitalized, prepaid, and other assets disclosure

Prepaid expenses and other current assets consisted of the following:


	December 31,
(In millions)	2025		2024
Prepaid maintenance, postage and insurance	$	334	$	216


Other prepaid expenses	269		188
Total prepaid expenses (1)	603		404

Income tax receivables (2)	148		501
Net merchant cash advances, including Clover Capital program	564		381
Settlement anticipation cash advances	1,223		1,101
Other current assets	858		700
Total other current assets	2,793		2,683
Total prepaid expenses and other current assets	$	3,396	$	3,087

(1)Prepaid expenses represent advance payments for goods and services to be consumed in the future.

(2)Includes receivables associated with transferable federal tax credits (see Note 16).

Schedule of property and equipment

Property and equipment consisted of the following:


		December 31,
(In millions)	Estimated Useful Lives	2025		2024
Land	—	$	44	$	44
Data processing equipment	3 to 5 years	4,812		3,789
Buildings and leasehold improvements	5 to 40 years	865		845
Furniture and equipment	5 to 8 years	417		394
		6,138		5,072
Less: Accumulated depreciation		(3,054)		(2,698)
Total		$	3,084	$	2,374

Schedule of accounts payable and accrued expenses

Accounts payable and other current liabilities consisted of the following:


	December 31,
(In millions)	2025		2024
Trade accounts payable	$	797	$	511
Client deposits	988		985
Transferable federal tax credits (see Note 16)	801		866
Accrued compensation and benefits	299		296
Accrued taxes	368		261
Accrued interest	417		335
Accrued payment network fees	297		253
Operating lease liabilities	126		116
Accrued professional fees	161		102
Obligation to purchase redeemable noncontrolling interest (see Note 13)	—		95
Other accrued expenses	1,053		979
Total	$	5,307	$	4,799

Schedule of interest expense, net

Interest expense, net consisted of the following:


	Year Ended December 31,
(In millions)	2025		2024		2023
Interest expense	$	(1,531)	$	(1,238)	$	(1,004)
Interest income	38		43		28
Interest expense, net	$	(1,493)	$	(1,195)	$	(976)

Computation of shares used in calculating basic and diluted net income per share

The computation of shares used in calculating basic and diluted net income per share is as follows:


	Year Ended December 31,
(In millions)	2025	2024	2023
Weighted-average common shares outstanding used for the calculation of net income attributable to Fiserv, Inc. per share – basic	547.1	578.7	611.7
Common stock equivalents	1.9	3.4	4.2
Weighted-average common shares outstanding used for the calculation of net income attributable to Fiserv, Inc. per share – diluted	549.0	582.1	615.9

Schedule of supplemental cash flow information

Supplemental Cash Flow Information

Supplemental cash flow information consisted of the following:


	Year Ended December 31,
(In millions)	2025		2024		2023
Interest paid	$	1,408	$	1,153	$	879
Net income taxes paid, including transferable federal tax credits	1,369		1,169		1,219
Treasury stock purchases settled after the balance sheet date	—		—		29
Software and other intangible assets obtained under financing arrangements	578		151		188
Hardware obtained under financing arrangements	202		—		—

A summary of income taxes paid by jurisdiction pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025 is as follows:


(In millions)
United States - Federal	$	939
United States - State and local	216
Foreign	214
Income taxes paid, net of amounts refunded	$	1,369

Leases (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Balance sheet classification of lease assets and liabilities

Lease Balances


	December 31,
(In millions)	2025		2024
Assets
Operating lease assets (1)	$	589	$	595
Finance lease assets (2)	1,118		611
Total lease assets	$	1,707	$	1,206

Liabilities
Current:
Operating lease liabilities (1)	$	126	$	116
Finance lease liabilities (2)	284		209
Noncurrent:
Operating lease liabilities (1)	637		654
Finance lease liabilities (2)	841		417
Total lease liabilities	$	1,888	$	1,396

(1) Operating lease assets are included within other long-term assets, and operating lease liabilities are included within accounts payable and other current liabilities (current portion) and other long-term liabilities (noncurrent portion) in the consolidated balance sheets.

(2)Finance lease assets are included within property and equipment, net and finance lease liabilities are included within short-term and current maturities of long-term debt (current portion) and long-term debt (noncurrent portion) in the consolidated balance sheets.

Schedule of cost, supplemental cash flow and other information related to leases

Components of Lease Cost


	Year Ended December 31,
(In millions)	2025		2024		2023
Operating lease cost (1)	$	201	$	193	$	185
Finance lease cost: (2)
Amortization of right-of-use assets	278		210		189
Interest on lease liabilities	59		39		31
Total lease cost	$	538	$	442	$	405

(1)Operating lease expense is included within cost of processing and services, cost of product and selling, general and administrative expense, dependent upon the nature and use of the ROU asset, in the consolidated statements of income. Operating lease expense includes approximately $55 million, $51 million and $41 million of variable lease costs during the years ended December 31, 2025, 2024 and 2023, respectively.

(2)Finance lease expense is recorded as depreciation and amortization expense within cost of processing and services, cost of product and selling, general and administrative expense, dependent upon the nature and use of the ROU asset, and interest expense, net in the consolidated statements of income.

Supplemental Cash Flow Information


	Year Ended December 31,
(In millions)	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - operating leases	$	128	$	124	$	134
Operating cash flows - finance leases	59		39		31
Financing cash flows - finance leases	345		264		207

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	56	$	105	$	76
Finance leases	924		221		279

Lease Term and Discount Rate


	December 31,
	2025		2024
Weighted-average remaining lease term:
Operating leases	9 years		10 years
Finance leases	5 years		4 years
Weighted-average discount rate:
Operating leases	3.2	%	3.1	%
Finance leases	5.2	%	5.3	%

Operating lease maturity

Maturity of Lease Liabilities

Future minimum rental payments on leases with initial non-cancellable lease terms in excess of one year were due as follows at December 31, 2025:


(In millions)
Year Ending December 31,	Operating Leases (1)(2)		Finance Leases (3)
2026	$	148	$	348
2027	138		295
2028	116		239
2029	90		205
2030	69		131
Thereafter	343		44
Total lease payments	904		1,262
Less: Interest	(141)		(137)
Present value of lease liabilities	$	763	$	1,125

(1)Operating lease payments include $84 million related to options to extend lease terms that are reasonably certain of being exercised.

(2)Operating lease payments exclude $162 million of legally binding minimum lease payments for leases signed but not yet commenced. Operating leases that have been signed but not yet commenced are for real estate and will commence in 2026 with lease terms up to 21 years.

(3)Finance lease payments exclude $393 million of legally binding minimum lease payments for leases signed but not yet commenced. Finance leases that have been signed but not yet commenced are for equipment and will commence in 2026 with lease terms of up to 7 years.

Finance lease maturity under

Maturity of Lease Liabilities

Future minimum rental payments on leases with initial non-cancellable lease terms in excess of one year were due as follows at December 31, 2025:


(In millions)
Year Ending December 31,	Operating Leases (1)(2)		Finance Leases (3)
2026	$	148	$	348
2027	138		295
2028	116		239
2029	90		205
2030	69		131
Thereafter	343		44
Total lease payments	904		1,262
Less: Interest	(141)		(137)
Present value of lease liabilities	$	763	$	1,125

(1)Operating lease payments include $84 million related to options to extend lease terms that are reasonably certain of being exercised.

Schedule of components of lease income

Components of Lease Income


	Year Ended December 31,
(In millions)	2025		2024		2023
Sales-type leases:
Selling profit (1)	$	92	$	74	$	56
Interest income (2)	116		87		81
Operating lease income (3)	236		243		259

(1)Selling profit includes $257 million, $213 million and $160 million recorded within product revenue with a corresponding charge of $165 million, $139 million and $104 million recorded within cost of product in the consolidated statements of income for the years ended December 31, 2025, 2024 and 2023, respectively.

(2)Interest income is included within product revenue in the consolidated statements of income.

(3)Operating lease income includes a nominal amount of variable lease income and is included within product revenue in the consolidated statements of income for each of the years ended December 31, 2025, 2024 and 2023.

Schedule of components of lease income

Components of Lease Income


	Year Ended December 31,
(In millions)	2025		2024		2023
Sales-type leases:
Selling profit (1)	$	92	$	74	$	56
Interest income (2)	116		87		81
Operating lease income (3)	236		243		259

(2)Interest income is included within product revenue in the consolidated statements of income.

Schedule of components of net investment in sales-type leases

Components of Net Investment in Sales-Type Leases


	December 31,
(In millions)	2025		2024
Minimum lease payments	$	582	$	520
Residual values	23		22
Less: Unearned interest income	(197)		(185)
Net investment in leases (1)	$	408	$	357

(1)Net investments in leased assets are included within prepaid expenses and other current assets (current portion) and other long-term assets (noncurrent portion) in the consolidated balance sheets.

Schedule of maturities of future minimum lease payments

Maturities of Future Minimum Lease Payment Receivables

Future minimum lease payments receivable on sales-type leases were as follows at December 31, 2025:


(In millions)
Year Ending December 31,	Sales-Type Leases
2026	$	227
2027	180
2028	123
2029	48
2030	4
Thereafter	—
Total minimum lease payments	$	582

Share-Based Compensation - Summary of Restricted Stock and Performance Activity (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2025 $ / shares shares
Restricted Stock Units and Awards
Shares
Balance at beginning of period (in shares) \| shares	4,716
Granted (in shares) \| shares	2,103
Forfeited (in shares) \| shares	(371)
Vested (in shares) \| shares	(2,558)
Balance at end of period (in shares) \| shares	3,890
Weighted- Average Grant Date Fair Value
Balance at beginning of period (in dollars per share) \| $ / shares	$ 124.78
Granted (in dollars per share) \| $ / shares	214.39
Forfeited (in dollars per share) \| $ / shares	168.42
Vested (in dollars per share) \| $ / shares	124.01
Balance at end of period (in dollars per share) \| $ / shares	$ 156.58
Performance Share Units
Shares
Balance at beginning of period (in shares) \| shares	1,966
Granted (in shares) \| shares	1,115
Forfeited (in shares) \| shares	(204)
Vested (in shares) \| shares	(626)
Balance at end of period (in shares) \| shares	2,251
Weighted- Average Grant Date Fair Value
Balance at beginning of period (in dollars per share) \| $ / shares	$ 116.62
Granted (in dollars per share) \| $ / shares	203.92
Forfeited (in dollars per share) \| $ / shares	132.41
Vested (in dollars per share) \| $ / shares	111.14
Balance at end of period (in dollars per share) \| $ / shares	$ 138.57

Debt - Annual Maturities of Total Debt (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Debt Disclosure [Abstract]
2026	$ 1,239
2027	2,804
2028	3,885
2029	3,364
2030	6,037
Thereafter	11,837
Total principal payments	29,166
Unamortized discount and deferred financing costs	(169)	$ (150)
Total debt	$ 28,997

Income Taxes - Schedule of Income Before Taxes, Domestic and Foreign (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
United States	$ 3,572	$ 3,683	$ 3,342
Foreign	692	823	556
Income before income taxes and income (loss) from investments in unconsolidated affiliates	$ 4,264	$ 4,506	$ 3,898

Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 605
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477548/944-605-55-14

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Schedule II - Valuation and Qualifying Accounts (Details) - Deferred tax asset valuation allowance - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 404	$ 467	$ 620
Charged to Costs and Expenses	22	15	2
Charged to Other Accounts	48	(20)	(125)
Deductions	(54)	(58)	(30)
Balance at End of Period	$ 420	$ 404	$ 467

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2025
Accounting Policies [Abstract]
Principles of Consolidation	The consolidated financial statements include the accounts of Fiserv, Inc. and its subsidiaries in which the Company holds a majority controlling financial interest. All intercompany transactions and balances between the Company and its subsidiaries have been eliminated in consolidation. Control is typically established when ownership and voting interests in an entity are greater than 50%. Investments in which the Company has significant influence but not control are accounted for using the equity method of accounting, for which the Company’s share of net income or loss is reported within income (loss) from investments in unconsolidated affiliates, and the related tax expense or benefit is reported within the income tax provision in the consolidated statements of income. Significant influence over an affiliate’s operations generally coincides with an ownership interest of between 20% and 50%; for partnerships and limited liability companies, an ownership interest of between 3% and 50%; or board of director representation may also constitute significant influence. Noncontrolling interests in entities of which the Company maintains a majority controlling financial interest represent the minority shareholders’ share of the net income or loss and equity in consolidated subsidiaries. The Company’s noncontrolling interests presented in the consolidated statements of income include net income (loss) attributable to noncontrolling interests and, in 2024 and 2023, a redeemable noncontrolling interest. Noncontrolling interests are presented as a component of equity in the consolidated balance sheets. Additional information regarding the Company’s redeemable noncontrolling interest is included in Note 13 to the consolidated financial statements.
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S.”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates.
Revenue Recognition	The Company generates revenue from the delivery of processing, service and product solutions. Revenue is measured based on consideration specified in a contract with a customer, and excludes any amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer which may be at a point in time or over time. Additional information regarding the Company’s revenue recognition policies is included in Note 3 to the consolidated financial statements. Significant Accounting Policy ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”), outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers. The core principle, involving a five-step process, of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Revenue is measured based on consideration specified in a contract with a customer and excludes any amounts collected on behalf of third parties. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Shipping and handling activities associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment activity and recognized as revenue at the point in time at which control of the goods transfers to the customer. As a practical expedient, the Company does not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between customer payment and the transfer of goods or services is expected to be one year or less. Nature of Goods and Services The Company’s operations are comprised of the Merchant and the Financial reportable segments (see Note 19). The following is a description of principal activities from which the Company generates its revenue. Contracts with customers are evaluated on a contract-by-contract basis as contracts may include multiple types of goods and services as described below. Processing and Services Processing and services revenue is generated from account- and transaction-based fees for merchant transaction processing and acquiring, electronic billing and payment services, electronic funds transfer and debit/credit processing services; consulting and professional services; merchant cash advances; and software maintenance for ongoing client support. The Company recognizes processing and services revenue in the period in which the specific service is performed unless such service is not deemed distinct from other goods or services in which revenue would then be recognized as control is transferred of the combined goods and services. The Company’s arrangements for processing and services typically consist of an obligation to provide specific services to its customers on a when and if needed basis (a stand-ready performance obligation) and revenue is recognized from the satisfaction of the performance obligations in the amount billable to the customer. These services are typically provided under a fixed or declining (tier-based) price per unit based on volume of service; however, pricing for services may also be based on fixed or monthly minimum processing fees. Fees for the Company’s processing and services arrangements are typically billed and paid on a monthly basis. Product Product revenue is generated from print and card production, software license, data and analytics, and hardware (primarily POS devices) sales. For software license agreements that are distinct, the Company recognizes software license revenue upon delivery, assuming a contract is deemed to exist. Revenue for arrangements with customers that include significant customization, modification or production of software such that the software is not distinct is typically recognized over time based upon efforts expended, such as labor hours, to measure progress towards completion. For arrangements involving hosted licensed software for the customer, a software element is considered present to the extent the customer has the contractual right to take possession of the software at any time during the hosting period without significant penalty and it is feasible for the customer to either operate the software on their own hardware or contract with another vendor to host the software. The Company maintains substantial volumes of payment and transaction data, providing insights into business and consumer activity. The Company accounts for the sales of distinct data and analytics as a separate performance obligation and recognizes the revenue at its standalone selling price when the customer obtains control of the analytical data. The Company sells or leases hardware (POS devices) and other peripherals as part of its contracts with customers. Hardware typically consists of POS terminals or Clover® devices. The Company does not manufacture hardware; rather, it purchases hardware from third-party vendors and holds such hardware in inventory until purchased by a customer. The Company accounts for sales of distinct hardware as a separate performance obligation and recognizes the revenue at its standalone selling price when the customer obtains control of the hardware. In certain instances, the Company may offer extended payment terms beyond one year. To the extent a significant financing component exists, it is calculated as the difference between the promised consideration and the present value of the product fees utilizing a discount rate reflective of a separate financing transaction, and is recognized as interest income over the extended payment period. The present value of the product fees is recognized as revenue at the point in time when the product is transferred to the customer. Significant Judgments in Application of the Guidance The Company uses the following methods, inputs and assumptions in determining amounts of revenue to recognize: Identification of Performance Obligations To identify its performance obligations, the Company considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. For multi-element arrangements, the Company accounts for individual goods or services as a separate performance obligation if they are distinct, the good or service is separately identifiable from other items in the arrangement and if a customer can benefit from it on its own or with other resources that are readily available to the customer. If these criteria are not met, the promised goods or services are accounted for as a combined performance obligation. Determining whether goods or services are distinct performance obligations that should be accounted for separately may require significant judgment. Technology or service components from third parties are frequently embedded in or combined with the Company’s applications or service offerings. Whether the Company recognizes revenue based on the gross amount billed to a customer or the net amount retained involves judgment that depends on the relevant facts and circumstances, including the level of contractual responsibilities and obligations for delivering solutions to end customers, to determine whether control of goods and services is obtained prior to their transfer to a customer. Determination of Transaction Price The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring goods or services to the customer. The Company includes any fixed charges within its contracts as part of the total transaction price. To the extent that variable consideration is not constrained, the Company includes an estimate of the variable amount, as appropriate, within the total transaction price and updates its assumptions over the duration of the contract. Assessment of Estimates of Variable Consideration Many of the Company’s contracts with customers contain some component of variable consideration; however, the constraint will generally not result in a reduction in the estimated transaction price for most forms of variable consideration. The Company may constrain the estimated transaction price in the event of a high degree of uncertainty as to the final consideration amount owed. Allocation of Transaction Price The transaction price (including any discounts or rebates) is allocated between distinct goods and services in a multi-element arrangement based on their relative standalone selling prices. The standalone selling prices are determined based on the prices at which the Company separately sells each good or service. For items that are not sold separately, the Company estimates the standalone selling prices using available information such as market conditions and internally approved pricing guidelines. Judgment may be required to determine standalone selling prices for each performance obligation and whether it depicts the amount the Company expects to receive in exchange for the related good or service. Contract Modifications Contract modifications occur when the Company and its customers agree to modify existing customer contracts to change the scope or price (or both) of the contract or when a customer terminates some, or all, of the existing services provided by the Company. When a contract modification occurs, it requires the Company to exercise judgment to determine if the modification should be accounted for as (i) a separate contract, (ii) the termination of the original contract and creation of a new contract, or (iii) a cumulative catch up adjustment to the original contract. Further, contract modifications require the identification and evaluation of the performance obligations of the modified contract, including the allocation of consideration to the remaining performance obligations and the period of revenue recognition for each identified performance obligation. Contract assets, reported within other long-term assets in the consolidated balance sheets, primarily relate to customer discounts (contract incentives) where revenue is recognized and payment of consideration under the contract is contingent upon the transfer of services to a customer over the contractual period. Contract liabilities primarily relate to advance consideration received from customers (deferred revenue) for which transfer of control occurs, and therefore revenue is recognized, as services are provided. Contract balances are reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period. The Company applies the optional exemption under ASC 606 and does not disclose information about remaining performance obligations for account- and transaction-based processing fees that qualify for recognition under the as-invoiced practical expedient. These multi-year contracts contain variable consideration for stand-ready performance obligations for which the exact quantity and mix of transactions to be processed are contingent upon the customer’s request. The Company also applies the optional exemptions under ASC 606 and does not disclose information for variable consideration that is a sales-based or usage-based royalty promised in exchange for a license of intellectual property or that is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service in a series. The amounts disclosed above as remaining performance obligations consist primarily of fixed or monthly minimum processing fees and maintenance fees under contracts with an original expected duration of greater than one year. Contract Costs The Company incurs incremental costs to obtain a contract as well as costs to fulfill contracts with customers that are expected to be recovered. These costs consist of sales commissions incurred only if a contract is obtained, and customer conversion or implementation related costs.Capitalized contract costs are amortized based on the transfer of goods or services to which the asset relates. The amortization period also considers expected customer lives and whether the asset relates to goods or services transferred under a specific anticipated contract. The amortization of capitalized sales commissions is included in selling, general and administrative expenses and the amortization of capitalized conversion or implementation costs within cost of processing and services.
Cash and Cash Equivalents	Cash and cash equivalents consist of cash and investments with original maturities of 90 days or less and are stated at cost in the consolidated balance sheets, which approximates market value. Cash and cash equivalents held on behalf of merchants and other payees are included in settlement assets in the consolidated balance sheets. The changes in settlement cash and cash equivalents are included in settlement activity, net within cash flows from financing activities in the consolidated statements of cash flows. Cash and cash equivalents that are restricted from use due to contractual or legal restrictions are included in other long-term assets in the consolidated balance sheets.
Allowance for Doubtful Accounts	The Company analyzes the collectability of trade accounts receivable by considering historical bad debts and issued client credits, client creditworthiness, current economic trends, changes in client payment terms and collection trends when evaluating the adequacy of the allowance for doubtful accounts. Any change in the assumptions used in analyzing a specific account receivable may result in an additional allowance for doubtful accounts being recognized in the period in which the change occurs. With respect to the Company’s merchant acquiring business, the Company’s merchant customers have the legal obligation to refund any charges properly reversed by the cardholder. However, in the event the Company is not able to collect the refunded amounts from the merchants, the Company may be liable for the reversed charges. The Company’s risk in this area primarily relates to situations where a cardholder has purchased goods or services to be delivered in the future. The Company requires cash deposits, guarantees, letters of credit or other types of collateral from certain merchants to mitigate this risk. Collateral held by the Company, or held by partner banks for the Company’s benefit, is classified within settlement assets, and the obligation to repay the collateral is classified within settlement obligations in the consolidated balance sheets. The amount of merchant collateral available to the Company was $588 million and $598 million at December 31, 2025 and 2024, respectively. The Company also utilizes a number of systems and procedures to manage merchant credit risk. Despite these efforts, the Company experiences losses due to merchant defaults. The aggregate merchant credit loss expense, recognized by the Company within cost of processing and services in the consolidated statements of income, was $128 million, $108 million and $80 million for the years ended December 31, 2025, 2024 and 2023, respectively. The Company maintains an allowance for merchant credit losses that are expected to exceed the amount of merchant collateral. The allowance includes estimated losses from anticipated chargebacks and fraud events that have been incurred on merchant payment transactions that have been processed but not yet reported to the Company, which is recorded within accounts payable and other current liabilities in the consolidated balance sheets, as well as estimated losses on refunded amounts to cardholders that have not yet been collected from the merchants, which is recorded within prepaid expenses and other current assets in the consolidated balance sheets. The allowance is based primarily on the Company’s historical experience of credit losses and other factors such as changes in economic conditions or increases in merchant fraud.
Leases, Company as Lessee	Leases are classified as operating or finance leases based on factors such as the lease term, lease payments, and the economic life, fair value and estimated residual value of the asset. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized on the commencement date based on the present value of lease payments over the lease term. As a practical expedient, lease agreements with lease and non-lease components are accounted for as a single lease component for all asset classes. Leases with a term of 12 months or less are not recorded on the consolidated balance sheets; instead, lease payments are recognized as lease expense on a straight-line basis over the lease term. The Company uses the right-of-use model to account for its leases. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized on the commencement date based on the present value of lease payments over the lease term. ROU assets are based on the lease liability and are increased by prepaid lease payments and decreased by lease incentives received. For leases where the Company is reasonably certain to exercise a renewal option, such option periods have been included in the determination of the Company’s ROU assets and lease liabilities. Certain leases require the Company to pay taxes, insurance, maintenance and other operating expenses associated with the leased asset. Such amounts are not included in the measurement of the ROU assets and lease liabilities to the extent they are variable in nature. These variable lease costs are recognized as variable lease expenses when incurred. As a practical expedient, lease agreements with lease and non-lease components are accounted for as a single lease component for all asset classes. The Company estimates contingent lease incentives when it is probable that the Company is entitled to the incentive at lease commencement. The Company elected the short-term lease recognition exemption for all leases that qualify. Therefore, leases with a term of 12 months or less are not recorded on the consolidated balance sheets; instead, lease payments are recognized as lease expense on a straight-line basis over the lease term. The depreciable life of the ROU assets and leasehold improvements are limited by the expected lease term unless the Company is reasonably certain of a transfer of title or purchase option. The Company uses its incremental borrowing rate to discount future lease payments in the calculation of the lease liability and ROU asset based on the information available on the commencement date for each lease. The Company’s leases typically do not provide an implicit rate. The determination of the incremental borrowing rate requires judgment and is determined using the Company’s current unsecured borrowing rate, adjusted for various factors such as collateralization, currency and term to align with the terms of the lease.
Leases, Company as Lessor	The Company maintains certain leasing receivables associated with its POS terminal leasing businesses. Leasing receivables are included in prepaid expenses and other current assets (current portion) and other long-term assets (noncurrent portion) in the consolidated balance sheets. Interest income on the Company’s leasing receivables is recognized using the effective interest method, and is included within product revenue in the consolidated statements of income. Initial direct costs incurred to obtain operating leases are deferred and recognized over the lease term. Initial direct costs to obtain a sales-type lease are expensed as incurred if the fair value of the underlying asset is different from its carrying amount at the lease commencement date. The Company owns certain POS terminal equipment which it leases to merchants. Leases are classified as operating or sales-type leases based on factors such as the lease term, lease payments, and the economic life, fair value and estimated residual value of the asset. The terms of the leases typically range from one month to four years. For operating leases, the minimum lease payments received are recognized as lease income within product revenue on a straight-line basis over the lease term and the leased asset is included in property and equipment, net in the consolidated balance sheets and depreciated over its estimated useful life. For sales-type leases, selling profit is recognized within product revenue at the commencement date of the lease to the extent the fair value of the underlying asset is different from its carrying amount. Selling profit is directly impacted by the Company’s estimate of the amount to be derived from the residual value of the asset at the end of the lease term. The residual value of the asset is computed using various assumptions, including the expected value of the underlying asset at the end of the lease term. Unearned income is recognized as interest income within product revenue over the lease term. For sales-type leases, the Company derecognizes the carrying amount of the underlying leased asset and recognizes a net investment in the leased asset in the consolidated balance sheets. The net investment in a leased asset is computed based on the present value of the minimum lease payments not yet received, along with the present value of the residual value of the asset less unearned interest income.
Prepaid Expenses and Other Current Assets	The Company offers merchants advance access to capital, primarily through its Clover Capital program. Under this program, merchants sell fixed amounts of their future credit card receivables to the Company in exchange for an up-front purchase price payment. The Company also offers merchants within its international operations advance access to capital through its settlement anticipation program. Under this program, the Company provides merchants the opportunity to receive settlement cash payments in advance in exchange for their receivables from card issuers, including when cardholders have elected to pay over time in installments. These local currency denominated arrangements are primarily associated with the Company’s operations in Latin America, the most significant of which are denominated in Argentine Peso and Brazilian Real. Settlement anticipation cash advances, the majority of which are collected within 30 days, are presented on a net basis within investing activities in the consolidated statements of cash flows.
Settlement Assets and Obligations	Settlement assets and obligations represent intermediary balances arising from the settlement process, which involves the transfer of funds among card issuers, payment networks, processors, merchants and consumers, and collateral amounts held to manage merchant credit risk, primarily associated with the Company’s merchant acquiring services. As a processor, the Company facilitates the clearing and settlement activity for the merchant and records settlement assets and obligations upon processing a payment transaction. Settlement assets represent cash received or amounts receivable from agents, payment networks, bank partners, merchants or direct consumers. Settlement obligations represent amounts payable to merchants and payees. Certain merchant settlement assets (included within settlement receivables) that relate to settlement obligations are held by partner banks. Although the Company does not have legal ownership of these assets, it has the right to use them to satisfy the related settlement obligations. The Company records settlement obligations for amounts payable to merchants and for outstanding payment instruments issued to payees that have not yet been presented for settlement.
Allowance for Merchant Credit Losses	The Company analyzes the collectability of trade accounts receivable by considering historical bad debts and issued client credits, client creditworthiness, current economic trends, changes in client payment terms and collection trends when evaluating the adequacy of the allowance for doubtful accounts. Any change in the assumptions used in analyzing a specific account receivable may result in an additional allowance for doubtful accounts being recognized in the period in which the change occurs. With respect to the Company’s merchant acquiring business, the Company’s merchant customers have the legal obligation to refund any charges properly reversed by the cardholder. However, in the event the Company is not able to collect the refunded amounts from the merchants, the Company may be liable for the reversed charges. The Company’s risk in this area primarily relates to situations where a cardholder has purchased goods or services to be delivered in the future. The Company requires cash deposits, guarantees, letters of credit or other types of collateral from certain merchants to mitigate this risk. Collateral held by the Company, or held by partner banks for the Company’s benefit, is classified within settlement assets, and the obligation to repay the collateral is classified within settlement obligations in the consolidated balance sheets. The amount of merchant collateral available to the Company was $588 million and $598 million at December 31, 2025 and 2024, respectively. The Company also utilizes a number of systems and procedures to manage merchant credit risk. Despite these efforts, the Company experiences losses due to merchant defaults. The aggregate merchant credit loss expense, recognized by the Company within cost of processing and services in the consolidated statements of income, was $128 million, $108 million and $80 million for the years ended December 31, 2025, 2024 and 2023, respectively. The Company maintains an allowance for merchant credit losses that are expected to exceed the amount of merchant collateral. The allowance includes estimated losses from anticipated chargebacks and fraud events that have been incurred on merchant payment transactions that have been processed but not yet reported to the Company, which is recorded within accounts payable and other current liabilities in the consolidated balance sheets, as well as estimated losses on refunded amounts to cardholders that have not yet been collected from the merchants, which is recorded within prepaid expenses and other current assets in the consolidated balance sheets. The allowance is based primarily on the Company’s historical experience of credit losses and other factors such as changes in economic conditions or increases in merchant fraud.
Property and Equipment	Property and equipment is reported at cost. Depreciation of property and equipment is computed primarily using the straight-line method over the shorter of the estimated useful life of the asset or the leasehold period, if applicable.
Intangible Assets	Customer related intangible assets represent customer contracts and relationships obtained as part of acquired businesses and are amortized using an accelerated amortization method which corresponds with the customer attrition rates used in the initial valuation of the intangibles over their estimated useful lives, generally ten to twenty years. Acquired software and technology represents software and technology intangible assets obtained as part of acquired businesses and is amortized using the straight-line method over their estimated useful lives, generally four to ten years. Trade names are amortized using the straight-line method over their estimated useful lives, generally eight to twenty years. Non-compete agreements are amortized using the straight-line method over their estimated useful lives, generally five years. Purchased software represents software licenses purchased from third parties and is amortized using the straight-line method over their estimated useful lives, generally five years. The Company continually develops, maintains and enhances its products and systems. Product development expenditures represented approximately 7%, 6% and 7% of the Company’s total revenue for the years ended December 31, 2025, 2024 and 2023, respectively. Research and development costs incurred prior to the establishment of technological feasibility are expensed as incurred. Routine maintenance of software products, design costs and other development costs incurred prior to the establishment of a product’s technological feasibility are also expensed as incurred. Costs are capitalized commencing when the technological feasibility of the software has been established. Capitalized software development costs represent the capitalization of certain costs incurred to develop new software or to enhance existing software which is marketed externally or utilized by the Company to process client transactions. Capitalized software development costs are amortized using the straight-line method over their estimated useful lives, generally five years. The Company may, at its discretion, negotiate to pay an independent sales organization (“ISO”) an agreed-upon up-front amount in exchange for the ISO’s surrender of its right to receive commission payments from the Company related to future transactions of merchants referred by the ISO (“residual buyout”). The Company may also obtain residual buyouts as part of acquired businesses. The amount that the Company pays for these residual buyouts is capitalized and subsequently amortized using the straight-line method over the expected life of the merchant portfolios, generally five to nine years.
Goodwill	Goodwill represents the excess of purchase price over the fair value of identifiable assets acquired and liabilities assumed in a business combination. The Company evaluates goodwill for impairment on an annual basis, or more frequently if circumstances indicate possible impairment. Goodwill is tested for impairment at a reporting unit level, which is one level below the Company’s operating segments. When assessing goodwill for impairment, the Company considers (i) the prior year’s amount of excess fair value over the carrying value of each reporting unit, (ii) the period of time since a reporting unit’s last quantitative test, (iii) the extent a reorganization or disposition changes the composition of one or more of the reporting units and (iv) other prevailing factors to determine whether or not to first perform a qualitative test. When performing a qualitative test, the Company assesses numerous factors to determine whether it is more likely than not that the fair value of its reporting units is less than their respective carrying values. Examples of qualitative factors that the Company assesses include its share price, its financial performance, market and competitive factors in its industry and other events specific to its reporting units. If the Company concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying value, the Company performs a quantitative impairment test by comparing reporting unit carrying values to estimated fair values. During its annual impairment assessment as of October 1, 2025, the Company performed a quantitative test for each of its reporting units and determined that its goodwill was not impaired as the estimated fair values exceeded the respective carrying values for each of the Company’s reporting units. Subsequently, the Company determined that a triggering event occurred during the fourth quarter of 2025 due to a sustained decline in its stock price, and therefore performed an additional quantitative goodwill impairment test of all reporting units as of December 31, 2025. The Company determined that its goodwill was not impaired as of December 31, 2025 as the estimated fair values exceeded the respective carrying values for each of the Company’s reporting units. However, it is reasonably possible that future developments related to the interest or currency exchange rate environments; a shift in strategic initiatives; a deterioration in financial performance within a particular reporting unit; sustained decreases in the Company’s stock price; or significant changes in the composition of, or assumptions used in, the quantitative test for certain of the Company’s reporting units (such as an increase in risk-adjusted discount rates) could have a material impact on one or more of the estimates and assumptions used to evaluate goodwill impairment in subsequent periods.
Asset Impairment	The Company reviews property and equipment, ROU assets, intangible assets and its investments in unconsolidated affiliates for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. The Company reviews capitalized software development costs for impairment at each reporting date. In connection with the goodwill impairment assessment triggering event in the fourth quarter of 2025 as described above, the Company performed an additional test of the recoverability of its aforementioned assets and determined no impairment as of December 31, 2025. Recoverability of property and equipment, lease ROU assets, capitalized software development costs and other intangible assets is assessed by comparing the carrying amount of the asset group to either the undiscounted future cash flows expected to be generated by the asset group or the net realizable value of the asset group, depending on the type of asset group. The Company assesses lease ROU assets that are exited in advance of the non-cancellable lease terms by comparing the carrying values of the lease ROU assets to the discounted cash flows from estimated sublease payments. The Company’s investments in unconsolidated affiliates are assessed by comparing the carrying amount of the investments to their estimated fair values and are impaired if any decline in fair value is determined to be other-than-temporary. Measurement of any impairment loss is based on estimated fair value. The estimated fair values of the Company’s investments in unconsolidated merchant alliances assume a continuation beyond the existing contractual term; however, a renewal of certain of the merchant alliance agreements beyond the current contractual term is not solely within the Company’s control. Additional information regarding the Company’s investments in unconsolidated affiliates is included in Note 8 to the consolidated financial statements.
Fair Value Measurements	The Company applies fair value accounting for all assets and liabilities that are recognized or disclosed at fair value in its consolidated financial statements on a recurring basis. Fair value represents the amount that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, the Company uses the hierarchy prescribed in Accounting Standards Codification (“ASC”) 820, Fair Value Measurements, and considers the principal or most advantageous market and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability. The three levels in the hierarchy are as follows: •Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that are accessible as of the measurement date. •Level 2 – Inputs other than quoted prices within Level 1 that are observable either directly or indirectly, including but not limited to quoted prices in markets that are not active, quoted prices in active markets for similar assets or liabilities and observable inputs other than quoted prices such as interest rates or yield curves. •Level 3 – Unobservable inputs reflecting management’s judgments about the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Additional information regarding the Company’s fair value measurements is included in Note 10 to the consolidated financial statements. The fair values of cash equivalents, trade accounts receivable, other current assets, settlement assets and obligations, accounts payable, and client deposits approximate their respective carrying values due to the short period of time to maturity. Derivative instruments maintained by the Company (see Note 9) are measured on a recurring basis based on foreign currency spot rates and forwards quoted by banks and foreign currency dealers and are marked to market each period. Contingent consideration related to certain of the Company’s acquisitions (see Note 4) is estimated using a probability-weighted assessment approach based on the likelihood of achieving the earn-out criteria. The Company’s obligation to satisfy the purchase of a redeemable noncontrolling interest associated with a terminated merchant alliance joint venture was measured at the estimated fair value of the minority interest. Such obligation was settled during the year ended December 31, 2025 through the distribution of certain merchant contracts to the minority partner (see Note 13). The fair value of the Company’s contingent liability for current expected credit losses associated with its debt guarantees, as further described below, is estimated based on assumptions of future risk of default and the corresponding level of credit losses at the time of default.
Foreign Currency	The U.S. dollar is the functional currency of the Company’s U.S.-based and certain foreign-based businesses. Where the functional currency of subsidiaries differs from the U.S. dollar, assets and liabilities are translated into U.S. dollars at the exchange rates in effect at the balance sheet date. Revenue and expenses are translated at the average exchange rates during the reporting period. Gains and losses from foreign currency translation are recorded as a separate component of accumulated other comprehensive loss. Gains and losses from foreign currency transactions are included in determining net income for the reporting period. Financial statements of subsidiaries located in highly inflationary economies outside of the U.S. are remeasured into U.S. dollars, and the foreign currency gains and losses from the remeasurement of monetary assets and liabilities are reflected in the consolidated statements of income, rather than as foreign currency translation within accumulated other comprehensive loss in the consolidated balance sheets. The remeasurement of monetary assets and liabilities in highly inflationary economies, including Argentina, resulted in foreign currency exchange losses of $158 million, $98 million and $164 million during the years ended December 31, 2025, 2024 and 2023, respectively, which is included within other expense, net in the consolidated statements of income. To reduce exposure to changes in the value of the Company’s net investments in certain of its foreign currency-denominated subsidiaries due to changes in foreign currency exchange rates, the Company uses fixed-to-fixed cross-currency rate swap contracts and foreign currency-denominated debt as economic hedges of its net investments in such foreign currency-denominated subsidiaries. Foreign currency transaction gains or losses on the qualifying net investment hedge instruments are recorded as foreign currency translation, net of tax, within other comprehensive income (loss) in the consolidated statements of comprehensive income and will remain in accumulated other comprehensive loss within the consolidated balance sheets until the sale or complete liquidation of the underlying foreign currency-denominated subsidiaries.
Derivatives	Derivatives are entered into for periods consistent with related underlying exposures and are recorded in the consolidated balance sheets as either an asset or liability measured at fair value. If the derivative is designated as a cash flow hedge, changes in the fair value of the derivative are recorded as a component of accumulated other comprehensive loss and recognized in the consolidated statements of income when the hedged item affects earnings. If the derivative is designated as a net investment hedge, changes in the fair value of the derivative, net of tax, are recorded in the foreign currency translation component of other comprehensive income (loss) until the sale or complete liquidation of the underlying net investment. If the derivative is designated as a fair value hedge, changes in the fair value of the derivative are recorded in the same line item as the changes in the fair value of the hedged item and recognized in the consolidated statements of income. To the extent a derivative is not designated as a hedge, changes in fair value are recognized in the consolidated statements of income. The Company’s policy is to enter into derivatives as economic hedges with creditworthy institutions to limit exposure to changing interest rates and foreign currency rate fluctuations, and not to enter into such derivatives for speculative purposes.
Employee Benefit Plans	Defined Contribution Plans The Company and its subsidiaries maintain defined contribution savings plans covering the majority of its employees. Under the plans, eligible participants may elect to contribute a specified percentage of their salaries and the Company makes matching contributions, each subject to certain limitations. The plans provide tax-deferred amounts for each participant, consisting of employee elective contributions, company matching and discretionary company contributions. Company matching contributions are 100% on the first 1% contributed and 50% on the next 4% contributed for eligible participants. Expenses for company contributions under these plans totaled $77 million, $81 million, and $78 million for the years ended December 31, 2025, 2024 and 2023, respectively. Effective January 1, 2026, Company matching contributions were increased to 100% on the first 2% contributed and 50% on the next 4% contributed for eligible participants. Defined Benefit Pension Plans The Company maintained frozen noncontributory defined benefit pension plans covering certain of its employees in the U.S. and United Kingdom (“U.K.”), which were terminated in September 2023. In March 2024, the Company entered into a group annuity insurance contract to provide for the administration of future payments to eligible plan participants of the terminated U.K. plan.
Cost of Processing, Services and Product	Cost of processing and services consists of costs directly associated with providing services to clients and includes the following: personnel; equipment and data processing; facility costs, including costs to maintain software applications; client support; certain depreciation and amortization; and other operating expenses. Cost of product consists of costs directly associated with the products sold and includes the following: costs of materials and postage; hardware costs (primarily POS devices); personnel; facility costs; certain depreciation and amortization; and other costs directly associated with product revenue.
Selling, General and Administrative Expenses	Selling, general and administrative expenses primarily consist of: salaries, wages, commissions and related expenses paid to sales personnel, administrative employees and management; third-party commissions and payments to distribution partners; marketing costs; certain depreciation and amortization; and other selling and administrative expenses.
Interest Expense, Net	Interest expense, net consists of interest expense primarily associated with the Company’s outstanding borrowings and finance lease obligations, as well as interest income primarily associated with the Company’s investment securities.
Income Taxes	Deferred tax assets and liabilities are recognized for the expected future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax basis, and net operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which such temporary differences are expected to be recovered or settled. A valuation allowance is recorded against deferred tax assets if it is more likely than not that some portion or all of the deferred tax assets will not be realized. Liabilities are established for unrecognized tax benefits, attributable to differences between a tax position taken or expected to be taken in a tax return and the benefit recognized in the financial statements. In establishing a liability for an unrecognized tax benefit, assumptions are made in determining whether, and the extent to which, a tax position will be sustained. A tax position is recognized only when it is more likely than not to be sustained upon examination by the relevant taxing authority, based on its technical merits. The amount of tax benefit recognized reflects the largest benefit the Company believes is more likely than not to be realized upon ultimate settlement. As additional information becomes available, the liability for unrecognized tax benefits is reevaluated and adjusted, as appropriate. Tax benefits ultimately realized can differ from amounts previously recognized due to uncertainties, with any such differences generally impacting the provision for income tax.
Net Income Per Share	Net income per share attributable to Fiserv, Inc. in each year is calculated using actual, unrounded amounts. Basic net income per share is computed by dividing net income attributable to Fiserv, Inc. by the weighted-average number of common shares outstanding during the year. Diluted net income per share is computed by dividing net income attributable to Fiserv, Inc. by the weighted-average number of common shares and common stock equivalents outstanding during the year. Common stock equivalents consist of unvested restricted stock units, unvested restricted stock awards and outstanding stock options, and are computed using the treasury stock method.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740) - Improvement to Income Tax Disclosures (“ASU 2023-09”), which establishes new income tax disclosure requirements in addition to modifying and eliminating certain existing requirements. ASU 2023-09 requires entities to consistently categorize and provide greater disaggregation of information within the income tax reconciliation to enable users of financial statements to understand the nature and magnitude of factors contributing to the difference between the effective and statutory tax rates. For public entities, the provisions within ASU 2023-09 are effective for fiscal years beginning after December 15, 2024, and for interim periods of fiscal years beginning after December 15, 2025. The Company adopted ASU 2023-09 effective for the year ended December 31, 2025, with prospective application. Additional information regarding the Company’s income tax rate reconciliations, including the application of the provisions of ASU 2023-09 for the year ended December 31, 2025, is included in Note 16 to the consolidated financial statements. Recently Issued Accounting Pronouncements In 2025, the FASB issued ASU No. 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements (“ASU 2025-09”), which is intended to more closely align hedge accounting with the economics of an entity’s risk management activities. ASU 2025-09 includes targeted improvements, primarily related to cash flow hedging, involving expanded eligibility for grouping individual forecasted transactions with similar risk exposure; the addition of an alternative model for the application of hedge accounting to cash flow hedges of interest payments on choose-your-rate debt instruments; the ability to designate a variable price component of a forecasted purchase or sale of a nonfinancial asset; and refines the guidance for net written options as hedging instruments and for a dual hedge strategy involving foreign currency denominated debt. For public entities, the provisions within ASU 2025-09 are effective for fiscal years beginning after December 15, 2026, and for interim reporting periods within those fiscal years. The provisions within ASU 2025-09 are required to be applied prospectively. The Company is currently assessing the impact the adoption of ASU 2025-09 may have on its consolidated financial statements and disclosures. In 2025, the FASB issued ASU No. 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”), which provides a practical expedient for estimating expected credit losses on current trade receivables and contract assets by assuming that current conditions persist over the life of these assets. For all entities, the provisions within ASU 2025-05 are effective for annual reporting periods beginning after December 15, 2026, and for interim reporting periods within those annual reporting periods. The provisions within ASU 2025-05 are required to be applied prospectively. The Company is currently assessing the impact the adoption of ASU 2025-05 may have on its consolidated financial statements and disclosures. In 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. Under ASU 2024-03, entities will be required to disaggregate information, in tabular format, about specific natural expense categories underlying certain income statement expense line items that are considered ‘relevant’, such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization. Additionally, ASU 2024-03 requires the disclosure of selling expenses, along with how an entity defines such expenses. For public entities, the provisions within ASU 2024-03 (as further clarified through ASU No. 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)) are effective for the first annual reporting period beginning after December 15, 2026, and for interim reporting periods within annual reporting periods beginning after December 15, 2027. The provisions within ASU 2024-03 are required to be applied prospectively; however, such provisions may be applied retrospectively for all comparative periods following the effective date. The Company is currently assessing the impact the adoption of ASU 2024-03 will have on its consolidated financial statement disclosures. In 2025, the FASB issued ASU No. 2025-06, Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”), to modernize the accounting guidance for costs to develop software for internal use. ASU 2025-06 amends the existing standard that refers to various stages of a software development project to better align with current software development methods, such as agile programming. Under ASU 2025-06, cost capitalization begins when management has authorized and committed to funding the project, and it is probable the project will be completed and the software will be used to perform its intended function. For all entities, the provisions within ASU 2025-06 are effective for fiscal years beginning after December 15, 2027, and for interim reporting periods within those fiscal years. The provisions within ASU 2025-06 can be applied either retrospectively through a cumulative-effect adjustment, prospectively to software costs incurred after the adoption date (on existing, in-process software projects or new projects), or on a modified prospective basis. The Company is currently assessing the impact the adoption of ASU 2025-06 will have on its consolidated financial statements and disclosures. In 2025, the FASB issued ASU No. 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities (“ASU 2025-10”), which amends Topic 832 to provide specific guidance on the recognition, measurement, presentation and disclosure of government grants received by business entities, including both monetary and certain non-monetary grants. For public entities, the provisions within ASU 2025-10 are effective for annual and interim periods beginning after December 15, 2028, with early adoption permitted. The provisions within ASU 2025-10 can be applied either on a modified prospective, modified retrospective, or on a retrospective approach through a cumulative-effect adjustment. The Company is currently assessing the impact the adoption of ASU 2025-10 will have on its consolidated financial statements and disclosures.
Acquisitions	Acquisitions were accounted for as business combinations using the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. Purchase price was allocated to the respective identifiable assets acquired and liabilities assumed based on the estimated fair values at the date of acquisitions. The results of operations for the following acquired and divested businesses are included in the consolidated results of the Company from the respective dates of acquisition and through the respective dates of disposition. Pro forma information for these acquired businesses is not provided because they did not have a material effect, individually or in the aggregate, on the Company’s consolidated results of operations.

Derivatives and Hedging Instruments - Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) (Details) - Net Investment Hedging - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cross-currency rate swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency transaction gains related to net investment hedges recorded in other comprehensive loss	$ (85)	$ 32	$ (29)
Foreign currency-denominated debt
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign currency transaction gains related to net investment hedges recorded in other comprehensive loss	$ (328)	$ 166	$ (177)

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Revenue from Contract with Customer [Abstract]

Summary of Significant Accounting Policies - Accounts Payable and Other Current Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Accounting Policies [Abstract]
Trade accounts payable	$ 797	$ 511
Client deposits	988	985
Transferable federal tax credits (see Note 16)	801	866
Accrued compensation and benefits	299	296
Accrued taxes	368	261
Accrued interest	417	335
Accrued payment network fees	297	253
Operating lease liabilities	126	116
Accrued professional fees	161	102
Obligation to purchase redeemable noncontrolling interest (see Note 13)	0	95
Other accrued expenses	1,053	979
Total	$ 5,307	$ 4,799

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,800,000,000	1,800,000,000
Common stock, shares issued (in shares)	784,000,000	784,000,000
Treasury stock, shares (in shares)	250,000,000	220,000,000

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2025

Disaggregation of revenue


(In millions)	Year Ended December 31,
Revenue by Business Line	2025		2024		2023
Small Business	$	6,795	$	6,357	$	5,664
Enterprise	2,256		2,163		1,933
Processing	1,089		1,111		1,125
Total Merchant Solutions segment revenue	$	10,140	$	9,631	$	8,722
Digital Payments	$	3,945	$	3,869	$	3,655
Issuing	3,284		3,112		3,011
Banking	2,435		2,496		2,435
Total Financial Solutions segment revenue	$	9,664	$	9,477	$	9,101
Corporate and Other	$	1,389	$	1,348	$	1,270
Total Revenue (1)	$	21,193	$	20,456	$	19,093

Contract with customer, asset and liabilities

The following table provides information about contract assets and contract liabilities from contracts with customers:


	December 31,
(In millions)	2025		2024		2023
Contract assets	$	885	$	832	$	754
Contract liabilities	1,124		1,082		1,011

Schedule of remaining performance obligations


(In millions)
Year Ending December 31,
2026	$	2,537
2027	1,952
2028	1,411
2029	842
Thereafter	826

Capitalized sales commissions and conversion or implementation costs

Capitalized sales commissions and conversion or implementation costs were as follows:


	December 31,
(In millions)	2025		2024
Capitalized sales commissions	$	481	$	483
Capitalized conversion or implementation costs	558		513

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	$ 27,686	$ 30,508	$ 31,527
Total other comprehensive income (loss)	526	(664)	396
Balance at end of period	25,809	27,686	30,508
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(1,413)	(783)	(1,189)
Other comprehensive income (loss) before reclassifications	414	(737)
Net current-period other comprehensive (loss) income	15	107
Total other comprehensive income (loss)	429	(630)	406
Balance at end of period	(984)	(1,413)	(783)
Derivatives
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(79)	(78)
Other comprehensive income (loss) before reclassifications	(7)	(10)
Net current-period other comprehensive (loss) income	15	9
Total other comprehensive income (loss)	8	(1)
Balance at end of period	(71)	(79)	(78)
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(1,327)	(688)
Other comprehensive income (loss) before reclassifications	419	(639)
Net current-period other comprehensive (loss) income	0	0
Total other comprehensive income (loss)	419	(639)
Balance at end of period	(908)	(1,327)	(688)
Pension Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(7)	(17)
Other comprehensive income (loss) before reclassifications	2	(88)
Net current-period other comprehensive (loss) income	0	98
Total other comprehensive income (loss)	2	10
Balance at end of period	$ (5)	$ (7)	$ (17)

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

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Amount after tax of reclassification adjustments of other comprehensive income (loss).

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Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

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SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Lessee, Lease, Description [Line Items]
Reserve for estimated credit losses on lease payment receivables	$ 55	$ 50
Minimum
Lessee, Lease, Description [Line Items]
Operating leases, remaining lease term (in months and years)	1 month
Finance leases, remaining lease term (in months and years)	1 month
Lessor lease term, operating leases (in months and years)	1 month
Lessor lease term, sales-type leases (in months and years)	1 month
Maximum
Lessee, Lease, Description [Line Items]
Operating leases, remaining lease term (in months and years)	18 years
Finance leases, remaining lease term (in months and years)	18 years
Lessor lease term, operating leases (in months and years)	4 years
Lessor lease term, sales-type leases (in months and years)	4 years

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Net income	$ 3,490	$ 3,180	$ 3,129
Other comprehensive income (loss):
Fair market value adjustment on derivatives	(10)	(13)	14
Tax impacts of derivatives	(2)	1	(8)
Unrealized (loss) gain on defined benefit pension plans	3	(117)	7
Realized loss due to settlement of terminated defined benefit pension plans (see Notes 1 and 14)	0	132	0
Tax impacts of defined benefit pension plans	(1)	(5)	(2)
Foreign currency translation	378	(607)	288
Reclassification adjustment for accumulated foreign currency translation impacts from the sale of foreign entities included in net gain on sale of business	0	0	10
Tax impacts of foreign currency translation	138	(66)	68
Total other comprehensive income (loss)	526	(664)	396
Comprehensive income	4,016	2,516	3,525
Less: net income attributable to noncontrolling interests and redeemable noncontrolling interest	10	49	61
Less: other comprehensive income (loss) attributable to noncontrolling interests	97	(34)	(10)
Comprehensive income attributable to Fiserv, Inc.	3,909	2,501	3,474
Foreign currency forward exchange contracts
Other comprehensive income (loss):
Reclassification adjustment for net realized (gains) losses on cash flow hedges	7	(3)	4
Treasury Lock
Other comprehensive income (loss):
Reclassification adjustment for net realized (gains) losses on cash flow hedges	$ 13	$ 14	$ 15

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2025

Schedule II - Valuation and Qualifying Accounts

Fiserv, Inc.

Schedule II — Valuation and Qualifying Accounts

(In millions)


			Additions
Description	Balance at Beginning of Period		Charged to Costs and Expenses	Charged to Other Accounts		Deductions	Balance at End of Period
Year ended December 31, 2025
Deferred tax asset valuation allowance	$	404	22	48		(54)	$	420
Year ended December 31, 2024
Deferred tax asset valuation allowance	$	467	15	(20)		(58)	$	404
Year ended December 31, 2023
Deferred tax asset valuation allowance	$	620	2	(125)	(1)	(30)	$	467

(1)The decrease in the deferred tax asset valuation allowance is primarily due to subsidiary restructurings.

Leases - Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease cost	$ 201	$ 193	$ 185
Finance lease cost
Amortization of right-of-use assets	278	210	189
Interest on lease liabilities	59	39	31
Total lease cost	538	442	405
Variable lease cost included within operating lease cost	$ 55	$ 51	$ 41

Goodwill

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table presents changes in goodwill during the years ended December 31, 2025 and 2024.


	Reportable Segments
(In millions)	Acceptance		Fintech		Payments		Merchant		Financial		Total
Goodwill - December 31, 2023	$	21,568	$	2,666	$	12,971	$	—	$	—	$	37,205




Reallocation (1)	(21,568)		(2,666)		(12,971)		22,850		14,355		—
Foreign currency translation	—		—		—		(509)		(112)		(621)
Goodwill - December 31, 2024	—		—		—		22,341		14,243		36,584
Acquisitions	—		—		—		255		227		482


Foreign currency translation	—		—		—		510		127		637
Goodwill - December 31, 2025	$	—	$	—	$	—	$	23,106	$	14,597	$	37,703

(1)Effective in the first quarter of 2024, the Company realigned its reportable segments to correspond with changes in its business designed to further enhance operational performance in the delivery of its integrated portfolio of products and solutions to its financial institution clients. This represents the reallocation of goodwill as a result of the segment realignment.

The entire disclosure for goodwill.

Schedule of segment reporting information

Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Accrued expenses	$ 132	$ 167
Share-based compensation	80	93
Net operating loss and credit carry-forwards	986	586
Leasing liabilities	177	258
Other	362	215
Subtotal	1,737	1,319
Valuation allowance	(420)	(404)
Total deferred tax assets	1,317	915
Capitalized software development costs	(158)	(219)
Intangible assets	(1,517)	(1,728)
Property and equipment	(166)	(278)
Capitalized commissions	(101)	(108)
Investments in joint ventures	(250)	(392)
Leasing right-of-use assets	(139)	(220)
Other	(355)	(371)
Total deferred tax liabilities	(2,686)	(3,316)
Total	$ (1,369)	$ (2,401)

Acquisitions, Dispositions and Other Transactions - Narrative (Details) - USD ($) $ in Millions								6 Months Ended	12 Months Ended
	Dec. 17, 2025	Sep. 05, 2025	Apr. 17, 2025	Mar. 18, 2025	Mar. 02, 2025	Nov. 01, 2023	Jul. 25, 2023	Sep. 25, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Business Combination [Line Items]
Goodwill									$ 37,703	$ 36,584	$ 37,205
Payments to acquire businesses, net of cash acquired									820	0	13
Income tax provision									$ 811	641	754
Customer relationships
Business Combination [Line Items]
Business combination, recognized asset acquired, identifiable intangible asset, finite-lived								$ 18
Weighted-average useful life (in years)								10 years
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Financial Reconciliation Business
Business Combination [Line Items]
Net proceeds from sale of business and other assets							$ 235
Gain (loss) on disposition of business											172
Income tax provision											$ 48
Disposal group, including discontinued operation, goodwill										38
Disposal group, including discontinued operation, trade receivable and capitalized software										15
Disposal group, including discontinued operation, accumulated foreign currency translation loss										$ 10
StoneCastle
Business Combination [Line Items]
Payments for acquisitions of businesses	$ 415
Acquired cash	4
Business combination, recognized asset acquired, identifiable intangible asset, finite-lived	165
Business combination, recognized asset acquired, other asset, noncurrent	$ 7
StoneCastle \| Acquired software and technology
Business Combination [Line Items]
Weighted-average useful life (in years)	7 years
Goodwill	$ 247
CCV Group B.V.
Business Combination [Line Items]
Acquired cash				$ 34
Goodwill				106
Business combination, recognized asset acquired, other asset, noncurrent				23
Payments to acquire businesses, net of cash acquired				219
CCV Group B.V. \| Customer relationships
Business Combination [Line Items]
Business combination, recognized asset acquired, identifiable intangible asset, finite-lived				$ 118
Weighted-average useful life (in years)				8 years
CCV Group B.V. \| Acquired software and technology
Business Combination [Line Items]
Business combination, recognized asset acquired, identifiable intangible asset, finite-lived				$ 2
Weighted-average useful life (in years)				1 year
CCV Group B.V. \| Trademarks
Business Combination [Line Items]
Business combination, recognized asset acquired, identifiable intangible asset, finite-lived				$ 4
Weighted-average useful life (in years)				2 years
Payfare
Business Combination [Line Items]
Acquired cash					$ 46
Goodwill					56
Business combination, recognized asset acquired, other asset, noncurrent					49
Payments to acquire businesses, net of cash acquired					95
Payfare \| Customer relationships
Business Combination [Line Items]
Business combination, recognized asset acquired, identifiable intangible asset, finite-lived					$ 14
Weighted-average useful life (in years)					14 years
Payfare \| Purchased software
Business Combination [Line Items]
Business combination, recognized asset acquired, identifiable intangible asset, finite-lived					$ 22
Weighted-average useful life (in years)					7 years
Pinch Payments, Money Money, CardFree, and SCG
Business Combination [Line Items]
Goodwill								$ 73
Payments to acquire businesses, net of cash acquired								127
Earn-out provisions estimated fair value								35
Business combination, recognized liability assumed, other liability, noncurrent								5
Pinch Payments, Money Money, CardFree, and SCG \| Acquired software and technology
Business Combination [Line Items]
Business combination, recognized asset acquired, identifiable intangible asset, finite-lived								$ 31
Weighted-average useful life (in years)								7 years
Skytef and Sled
Business Combination [Line Items]
Payments for acquisitions of businesses						$ 17
ICICI Merchant Services Private Limited
Business Combination [Line Items]
Payments to acquire businesses, net of cash acquired			$ 22
Percentage of business acquired			19.00%						19.00%
AIBMS
Business Combination [Line Items]
Payments for acquisitions of businesses		$ 420
Acquired cash		$ 195
Percentage of business acquired		49.90%							49.90%

Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Operating results for each reportable segment were as follows:


	Reportable Segments
(In millions)	Merchant		Financial		Total
Year Ended December 31, 2025
Revenues:
Processing and services revenue	$	8,866	$	8,013
Product revenue	1,274		1,651
Reportable segment revenue	$	10,140	$	9,664	$	19,804
Corporate and Other revenue (1)					1,389
Total Company revenue					$	21,193
Expenses:
Personnel expenses (2)	1,385		2,025
Direct costs (3)	3,488		810
Depreciation and amortization expense	438		510
Other operating expense (4)	682		490
Allocations from Corporate and Other (5)	645		1,449

Reportable segment operating income	$	3,502	$	4,380	$	7,882
Corporate and Other operating loss (6)					(2,064)

Interest expense, net					(1,493)
Other expense, net (7)					(61)
Income before income taxes and income from investments in unconsolidated affiliates					$	4,264


	Reportable Segments
(In millions)	Merchant		Financial		Total
Year Ended December 31, 2024
Revenues:
Processing and services revenue	$	8,557	$	8,065
Product revenue	1,074		1,412
Reportable segment revenue	$	9,631	$	9,477	$	19,108
Corporate and Other revenue (1)					1,348
Total Company revenue					$	20,456
Expenses:
Personnel expenses (2)	1,298		1,949
Direct costs (3)	3,164		748
Depreciation and amortization expense	367		465
Other operating expense (4)	592		367
Allocations from Corporate and Other (5)	649		1,463

Reportable segment operating income	$	3,561	$	4,485	$	8,046
Corporate and Other operating loss (6)					(2,167)

Interest expense, net					(1,195)
Other expense, net (7)					(178)
Income before income taxes and loss from investments in unconsolidated affiliates					$	4,506


	Reportable Segments
(In millions)	Merchant		Financial		Total
Year Ended December 31, 2023
Revenues:
Processing and services revenue	$	7,637	$	7,970
Product revenue	1,085		1,131
Reportable segment revenue	$	8,722	$	9,101	$	17,823
Corporate and Other revenue (1)					1,270
Total Company revenue					$	19,093
Expenses:
Personnel expenses (2)	1,321		2,010
Direct costs (3)	2,906		780
Depreciation and amortization expense	328		404
Other operating expense (4)	564		315
Allocations from Corporate and Other (5)	629		1,414

Reportable segment operating income	$	2,974	$	4,178	$	7,152
Corporate and Other operating loss (6)					(2,138)

Interest expense, net					(976)
Other expense, net (7)					(140)
Income before income taxes and loss from investments in unconsolidated affiliates					$	3,898

(1)Primarily includes postage reimbursements.

(2)Includes compensation and benefit costs of Company employees, as well as expenses paid to third parties for consulting and temporary help, net of capitalized software costs.

(3)Includes cost of goods sold, payments to distribution partners and other reselling costs.

(4)Includes data processing, facility, and marketing costs that are directly charged to the reportable segments. Includes in the Merchant segment a gain of $89 million related to the distribution of certain merchant contracts for the redemption of a minority partner’s

membership interest during the year ended December 31, 2025 (see Note 13).

(5)Represents centrally-managed costs, including sales, technology and administrative expenses, that are allocated to the reportable segments from Corporate and Other and are considered in the CODM’s evaluation of segment performance.

(6)Includes amortization of acquisition-related intangible assets; costs associated with acquisition and divestiture activity; unallocated corporate expenses; expenses associated with the Company’s transformation initiative focused on operational excellence; and gains or losses on sale of business and other assets.

(7)Includes foreign currency transaction gains and losses, gains or losses from a sale or change in fair value of investments in certain equity securities, amounts related to debt guarantee arrangements of certain equity method investments, and non-cash pension plan settlement charges.

Other significant items include:


	Year Ended December 31,
(In millions)	2025		2024		2023
Depreciation and amortization:
Merchant (1)	$	501	$	429	$	366
Financial (1)	679		628		560
Corporate and Other (2)	2,027		2,081		2,236
Total Company	$	3,207	$	3,138	$	3,162

Capital expenditures, including capitalized software and other intangibles:
Merchant	$	570	$	552	$	498
Financial	682		614		525
Corporate and Other	511		403		365
Total Company	$	1,763	$	1,569	$	1,388

(1)Includes amortization associated with commissions, residual buyouts and deferred conversion/implementation costs included within personnel expenses, direct costs and other operating expenses, respectively, in the segment operating results tables above.

(2)Primarily includes amortization of acquisition-related intangible assets, such as customer relationships, software/technology and trade names.

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of income before income tax, domestic and foreign

The provision for income taxes is based on income before income taxes and income (loss) from investments in unconsolidated affiliates, as follows:


	Year Ended December 31,
(In millions)	2025		2024		2023
United States	$	3,572	$	3,683	$	3,342
Foreign	692		823		556
Total	$	4,264	$	4,506	$	3,898

Schedule of pretax income and income tax provision (benefit) for continuing operations

The income tax provision was as follows:


	Year Ended December 31,
(In millions)	2025		2024		2023
Components of income tax provision (benefit):
Current:
Federal	$	1,288	$	831	$	913
State	221		242		148
Foreign	244		230		204
	1,753		1,303		1,265
Deferred:
Federal	(759)		(407)		(380)
State	(70)		(112)		(12)
Foreign	(113)		(143)		(119)
	(942)		(662)		(511)
Income tax provision	$	811	$	641	$	754

Reconciliation of statutory federal income tax rate to effective income tax rate

An income tax rate reconciliation pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025 is as follows:



(In millions)	Amount		Percent
U.S. federal statutory income tax rate	$	896	21.0	%
United States:
State and local income taxes (1)	107		2.5	%
Effect of cross-border tax laws	22		0.5	%
Tax credits
Transferable federal tax credits	(96)		(2.3)	%
Foreign tax credits	(66)		(1.5)	%
Other	(14)		(0.3)	%

Nontaxable or nondeductible items
Excess tax benefit from share-based awards	(55)		(1.3)	%
Other	18		0.4	%
Other adjustments	10		0.2	%



Foreign tax effects:
Other foreign jurisdictions	(14)		(0.3)	%

Changes in unrecognized tax benefits	3		0.1	%
Income tax provision	$	811	19.0	%

(1)State and local income taxes in California, Illinois, New Jersey, New York and Pennsylvania comprise the majority (greater than 50%) of the tax effect in this category.

A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate is as follows:


	Year Ended December 31,
	2024		2023
U.S. federal statutory income tax rate	21.0	%	21.0	%
State income taxes, net of federal effect	2.6	%	2.8	%




Foreign derived intangibles income deduction	—	%	(0.4)	%
Excess tax benefit from share-based awards	(1.3)	%	(0.8)	%
Sale of businesses and subsidiary restructuring	(0.2)	%	(1.3)	%

Unrecognized tax benefits	—	%	(0.2)	%
Nondeductible executive compensation	0.3	%	0.2	%
Transferable federal tax credits	(2.3)	%	(1.4)	%
Non-cash impairment charge (see Note 8)	(2.9)	%	—	%
Valuation allowance	(1.0)	%	(0.6)	%
Other, net	(2.0)	%	—	%
Effective income tax rate	14.2	%	19.3	%

Schedule of supplemental cash flow information

Supplemental Cash Flow Information

Supplemental cash flow information consisted of the following:


	Year Ended December 31,
(In millions)	2025		2024		2023
Interest paid	$	1,408	$	1,153	$	879
Net income taxes paid, including transferable federal tax credits	1,369		1,169		1,219
Treasury stock purchases settled after the balance sheet date	—		—		29
Software and other intangible assets obtained under financing arrangements	578		151		188
Hardware obtained under financing arrangements	202		—		—

A summary of income taxes paid by jurisdiction pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025 is as follows:


(In millions)
United States - Federal	$	939
United States - State and local	216
Foreign	214
Income taxes paid, net of amounts refunded	$	1,369

Schedule of deferred tax assets and liabilities

Significant components of deferred tax assets and liabilities consisted of the following:


	December 31,
(In millions)	2025		2024
Accrued expenses	$	132	$	167

Share-based compensation	80		93
Net operating loss and credit carry-forwards	986		586

Leasing liabilities	177		258
Other	362		215
Subtotal	1,737		1,319
Valuation allowance	(420)		(404)
Total deferred tax assets	1,317		915

Capitalized software development costs	(158)		(219)
Intangible assets	(1,517)		(1,728)
Property and equipment	(166)		(278)
Capitalized commissions	(101)		(108)
Investments in joint ventures	(250)		(392)
Leasing right-of-use assets	(139)		(220)

Other	(355)		(371)
Total deferred tax liabilities	(2,686)		(3,316)
Total	$	(1,369)	$	(2,401)

Deferred tax assets and liabilities are reported in the consolidated balance sheets as follows:


	December 31,
(In millions)	2025		2024
Noncurrent assets	$	109	$	76
Noncurrent liabilities	(1,478)		(2,477)
Total	$	(1,369)	$	(2,401)

Schedule of operating loss carryforwards and general business credit carryforwards

Federal, state and foreign net operating loss carryforwards and tax credit carryforwards consisted of the following:


	December 31,
(In millions)	2025		2024
Net operating loss carryforwards: (1)
Federal	$	36	$	28
State	2,732		2,829
Foreign	1,818		1,597
Tax credit carryforwards (2)	396		43

(1)At December 31, 2025, the Company had federal net operating loss carryforwards of $36 million, most of which do not expire, state net operating loss carryforwards of $2.7 billion, most of which expire in 2026 through 2045, and foreign net operating loss carryforwards of $1.8 billion, of which $1.5 billion expire in 2026 through 2045, and the remainder of which do not expire.

(2)At December 31, 2025, the Company had tax credit carryforwards, including transferable federal tax credits, of $396 million, most of which expire in 2026 through 2045.

Schedule of operating loss carryforwards and general business credit carryforwards

Federal, state and foreign net operating loss carryforwards and tax credit carryforwards consisted of the following:


	December 31,
(In millions)	2025		2024
Net operating loss carryforwards: (1)
Federal	$	36	$	28
State	2,732		2,829
Foreign	1,818		1,597
Tax credit carryforwards (2)	396		43

(2)At December 31, 2025, the Company had tax credit carryforwards, including transferable federal tax credits, of $396 million, most of which expire in 2026 through 2045.

Schedule of unrecognized tax benefits roll forward

Unrecognized tax benefits were as follows:


	December 31,
(In millions)	2025		2024		2023
Unrecognized tax benefits - Beginning of year	$	85	$	84	$	96

Increases for tax positions taken during the current year	2		2		2
Increases for tax positions taken in prior years	19		4		8
Decreases for tax positions taken in prior years	—		—		(10)
Decreases for settlements	—		—		(3)
Lapse of the statute of limitations	(9)		(5)		(9)
Unrecognized tax benefits - End of year	$	97	$	85	$	84

Income Taxes - Schedule of Income Taxes Paid (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
United States - Federal	$ 939
United States - State and local	216
Foreign	214
Income taxes paid, net of amounts refunded	$ 1,369	$ 1,169	$ 1,219

Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

Revenue:

Total revenue

$ 21,193

$ 20,456

$ 19,093

Expenses:

Selling, general and administrative

6,883

6,564

6,576

Net gain on sale of business and distribution of other assets

(120)

(167)

Total expenses

15,375

14,577

14,079

Operating income

5,818

5,879

5,014

Interest expense, net

(1,493)

(1,195)

(976)

Other expense, net

(61)

(178)

(140)

Income before income taxes and income (loss) from investments in unconsolidated affiliates

4,264

4,506

3,898

Income tax provision

(811)

(641)

(754)

Income (loss) from investments in unconsolidated affiliates

(685)

(15)

Less: net income attributable to noncontrolling interests and redeemable noncontrolling interest

3,490

3,180

3,129

Net income attributable to Fiserv, Inc.

$ 3,480

$ 3,131

$ 3,068

Net income attributable to Fiserv, Inc. per share:

Basic (in dollars per share)

$ 6.36

$ 5.41

$ 5.02

Diluted (in dollars per share)

$ 6.34

$ 5.38

$ 4.98

Shares used in computing net income attributable to Fiserv, Inc. per share:

Basic (in shares)

547.1

578.7

611.7

Diluted (in shares)

549.0

582.1

615.9

Processing and services

Revenue:

Total revenue

^[1]

$ 16,879

$ 16,637

$ 15,630

Expenses:

Cost of goods and services sold

5,802

5,363

5,332

Product

Revenue:

Total revenue

4,314

3,819

3,463

Expenses:

Cost of goods and services sold

$ 2,810

$ 2,650

$ 2,338

[1]	Includes processing and other fees charged to related party investments accounted for under the equity method of $96 million, $137 million and $178 million for the years ended December 31, 2025, 2024 and 2023, respectively (see Note 18).

Investments in Unconsolidated Affiliates	12 Months Ended
Investments in Unconsolidated Affiliates	Dec. 31, 2025
Investments in and Advances to Affiliates [Abstract]
Investments in Unconsolidated Affiliates	Investments in Unconsolidated Affiliates The Company maintains investments in various affiliates that are accounted for as equity method investments, the most significant of which are related to the Company’s merchant alliances. The Company’s share of net income or loss from these investments is reported within income (loss) from investments in unconsolidated affiliates and the related tax expense or benefit is reported within the income tax provision in the consolidated statements of income. The Company reviews its equity method investments each reporting period for indications of an other-than-temporary decline in value, including any significant changes in business relationships with merchant alliances. A decline in value of an equity method investment determined to be other-than-temporary is recorded as a current-period impairment charge within income (loss) from investments in unconsolidated affiliates in the consolidated statements of income. Merchant Alliances The Company maintains ownership interests in certain merchant alliances. A merchant alliance is an agreement between the Company and a financial institution that combines the processing capabilities and management expertise of the Company with the visibility and distribution channel of the financial institution. A merchant alliance acquires credit and debit card transactions from merchants. The Company provides processing and other services to the merchant alliance and charges fees to the alliance based on contractual pricing (see Note 18). The Company’s investment in its merchant alliances was $736 million and $1.2 billion at December 31, 2025 and 2024, respectively, and is reported within investments in unconsolidated affiliates in the consolidated balance sheets. The Company maintained a 40% ownership interest in the Wells Fargo Merchant Services merchant alliance (“WFMS”), which was accounted for as an equity method investment. The Company acquired its ownership, at fair value, in WFMS through its 2019 acquisition of First Data Corporation. In the third quarter of 2024, Wells Fargo Bank, National Association (“Wells Fargo”) provided the Company with a notice of non-renewal for WFMS. Upon the expiration of the joint venture on April 1, 2025, the Company received an initial cash payment of $453 million. Completion of the contractual valuation and separation process during the third quarter of 2025 did not result in a significant adjustment to the initial cash payment received. During the year ended December 31, 2024, the Company recorded a $595 million non-cash impairment as a result of an other-than-temporary decline in the fair value of its equity method investment in WFMS within income (loss) from investments in unconsolidated affiliates, with the related tax benefit of $129 million recorded through the income tax provision, in the consolidated statement of income. The Company recorded an initial pre-tax impairment charge of $570 million in the third quarter of 2024 based upon the Company’s estimate of the fair value of its portion of WFMS, and an additional $25 million pre-tax impairment charge in the fourth quarter of 2024 based upon the expected cash payment described above. An additional $4 million pre-tax impairment charge was recorded during the year ended December 31, 2025 upon completion of the contractual valuation and separation process. Other Equity Method Investments The Company maintains noncontrolling ownership interests in Sagent M&C, LLC (“Sagent”) and defi SOLUTIONS Group, LLC (collectively the “Lending Joint Ventures”), which are accounted for under the equity method. The Company’s net investment in the Lending Joint Ventures was $88 million and $49 million at December 31, 2025 and 2024, respectively, and is reported within investments in unconsolidated affiliates in the consolidated balance sheets. In addition, the Company maintains other strategic investments accounted for under the equity method. The Company’s aggregate investment in such entities was $208 million and $218 million at December 31, 2025 and 2024, respectively, and is reported within investments in unconsolidated affiliates in the consolidated balance sheets. The Lending Joint Ventures maintain variable-rate term loan facilities with aggregate outstanding borrowings of $399 million in senior unsecured debt at December 31, 2025 and variable-rate revolving credit facilities with an aggregate borrowing capacity of $83 million with a syndicate of banks, which mature in April 2027. There were $18 million of aggregate outstanding borrowings on the revolving credit facilities at December 31, 2025. The Company has guaranteed the debt of the Lending Joint Ventures and does not anticipate that the Lending Joint Ventures will fail to fulfill their debt obligations (see Note 10). The Company classifies distributions from its investments accounted for using the equity method in the consolidated statements of cash flows using the cumulative earnings approach. Under this approach, distributions received from unconsolidated affiliates are classified as cash flows from operating activities to the extent that the cumulative distributions do not exceed the cumulative earnings on the investment. To the extent the current period distribution exceeds the cumulative earnings on the investment, the distribution is considered a return of investment and is classified as cash flows from investing activities. The Company received cash distributions from unconsolidated affiliates of $86 million, $99 million and $191 million, of which $42 million, $60 million and $136 million were recorded as cash flows from investing activities in the Company’s consolidated statements of cash flows for the years ended December 31, 2025, 2024 and 2023, respectively. During the year ended December 31, 2025, the Company recorded net pre-tax gains of $37 million, primarily related to the sale of an equity method investment, within income (loss) from investments in unconsolidated affiliates in the consolidated statement of income. Other Equity Investments The Company also maintains investments, over which it does not have significant influence, in various equity securities without a readily determinable fair value. Such investments totaled $126 million and $250 million at December 31, 2025 and 2024, respectively, and are primarily included within other long-term assets in the consolidated balance sheets. The Company reviews these investments each reporting period to determine whether an impairment or observable price change for the investment has occurred. To the extent such events or changes occur, the Company evaluates the fair value compared to its cost basis in the investment. Gains or losses from a sale of these investments or a change in fair value are included within other expense, net in the consolidated statements of income for the period. Adjustments made for observable price changes to the values recorded for certain equity securities and net gains from sales of equity securities were, in aggregate, $82 million and $29 million during the years ended December 31, 2025 and 2024, respectively. The Company received cash proceeds of $210 million from the sale of certain investments in the fourth quarter of 2025, which were included in proceeds from sale of investments within investing activities in the consolidated statement of cash flows. Adjustments made for observable price changes to the values recorded for certain equity securities and net gains from sales of equity securities were not significant during the year ended December 31, 2023.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation and Investigation Matters In the normal course of business, the Company or its subsidiaries are named as defendants in lawsuits in which claims are asserted against the Company. The Company maintained an accrual of $25 million and $43 million at December 31, 2025 and 2024, respectively, related to its various legal proceedings. The Company’s estimate of the possible range of exposure for various legal proceedings in excess of amounts accrued is $0 million to approximately $160 million. In the opinion of management, the liabilities, if any, which may ultimately result from such legal proceedings are not expected to have a material adverse effect on the Company’s consolidated financial statements. On July 24, 2025, a federal securities law complaint was filed against the Company and Frank J. Bisignano (the Company’s former Chairman and Chief Executive Officer), Michael P. Lyons, Robert W. Hau (the Company’s former Chief Financial Officer and current Special Advisor), and Kenneth F. Best in the United States District Court for the Southern District of New York. The complaint is brought on behalf of a putative class of purchasers of Company securities from July 22, 2024 to July 24, 2025 and alleges violations of Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”), and Rule 10b-5 thereunder, and Section 20(a) of the Exchange Act. The complaint alleges, among other things, that certain statements made by the Company about the growth of its Clover business management platform were false and/or misleading and led to a decline in the Company’s stock price over the purported class period. On November 17, 2025, lead plaintiffs were appointed in the action and it was assigned the caption In re Fiserv, Inc. Securities Litigation, No. 1:25-cv-06094. On November 4, 2025 and November 14, 2025, federal securities law complaints were filed against the Company and Messrs. Lyons and Hau in the United States District Court for the Eastern District of Wisconsin. The complaints are brought on behalf of a putative class of purchasers of Company securities from July 23, 2025 to at latest October 29, 2025, and allege violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 20(a) of the Exchange Act. The complaints allege, among other things, that certain statements made by the Company in connection with its second quarter 2025 earnings were false and/or misleading and led to a decline in the Company’s stock price over the purported class period. On February 5, 2026, the actions were consolidated under the caption In re Fiserv, Inc. Securities Litigation, No. 25-cv-1716. The lead plaintiffs in the New York action have moved in the Wisconsin action seeking, among other things, to intervene and transfer those actions to the Southern District of New York. The motion remains pending. Between December 10, 2025 and February 3, 2026, derivative complaints were filed by purported Company shareholders Richard Martin, Nathan Silva, and Gary Peterson in the United States District Court for the Eastern District of Wisconsin. On December 30, 2025, Mr. Martin filed an amended derivative complaint. The actions name Messrs. Bisignano and Lyons, and certain other current and former officers and directors of the Company as individual defendants, and the Company as the nominal defendant, and generally allege that certain individual defendants breached their fiduciary duties and violated the Exchange Act in connection with, among other things, factual allegations made in the In re Fiserv, Inc. Securities Litigation actions. The actions also allege that certain individual defendants are liable for trading in Company stock at artificially inflated prices. The Company has also received demands on the board of directors from purported Company shareholders that the Company pursue certain litigation against certain of its current and former directors and officers alleging, among other things, supposed breaches of duty based on factual allegations made in the In re Fiserv, Inc. Securities Litigation actions. The Company may receive additional demands and these demands may precede derivative actions which name the Company as a nominal defendant. The defendants have not yet answered or otherwise responded to any of the complaints in these actions. The Company intends to vigorously defend these cases but cannot predict with any degree of certainty the outcome of the suits or determine the extent of any potential liability or damages. In November 2025, the Company began responding to requests for information from the Enforcement Division of the U.S. Securities and Exchange Commission and the U.S. Attorney’s Office for the Southern District of New York in connection with investigations related to the Company’s 2025 earnings guidance. The Company is cooperating with these investigations. Electronic Payments Transactions In connection with the Company’s processing of electronic payments transactions, which are separate and distinct from the settlement payment transactions described in Note 5, funds received from subscribers are invested from the time the Company collects the funds until payments are made to the applicable recipients. These subscriber funds are invested in short-term, highly liquid investments. Subscriber funds, which are not included in the Company’s consolidated balance sheets, can fluctuate significantly based on consumer bill payment and debit card activity and totaled $1.7 billion and $1.3 billion at December 31, 2025 and 2024, respectively. Indemnifications and Warranties The Company may indemnify its clients from certain costs resulting from claims of patent, copyright or trademark infringement associated with its clients’ use of the Company’s products or services. The Company may also warrant to clients that its products and services will operate in accordance with identified specifications. From time to time, in connection with sales of businesses, the Company agrees to indemnify the buyers of such businesses for liabilities associated with the businesses that are sold. Payments, net of recoveries, under such indemnification or warranty provisions were not material to the Company’s consolidated financial statements.

Recent Accounting Pronouncements	12 Months Ended
Recent Accounting Pronouncements	Dec. 31, 2025
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740) - Improvement to Income Tax Disclosures (“ASU 2023-09”), which establishes new income tax disclosure requirements in addition to modifying and eliminating certain existing requirements. ASU 2023-09 requires entities to consistently categorize and provide greater disaggregation of information within the income tax reconciliation to enable users of financial statements to understand the nature and magnitude of factors contributing to the difference between the effective and statutory tax rates. For public entities, the provisions within ASU 2023-09 are effective for fiscal years beginning after December 15, 2024, and for interim periods of fiscal years beginning after December 15, 2025. The Company adopted ASU 2023-09 effective for the year ended December 31, 2025, with prospective application. Additional information regarding the Company’s income tax rate reconciliations, including the application of the provisions of ASU 2023-09 for the year ended December 31, 2025, is included in Note 16 to the consolidated financial statements. Recently Issued Accounting Pronouncements In 2025, the FASB issued ASU No. 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements (“ASU 2025-09”), which is intended to more closely align hedge accounting with the economics of an entity’s risk management activities. ASU 2025-09 includes targeted improvements, primarily related to cash flow hedging, involving expanded eligibility for grouping individual forecasted transactions with similar risk exposure; the addition of an alternative model for the application of hedge accounting to cash flow hedges of interest payments on choose-your-rate debt instruments; the ability to designate a variable price component of a forecasted purchase or sale of a nonfinancial asset; and refines the guidance for net written options as hedging instruments and for a dual hedge strategy involving foreign currency denominated debt. For public entities, the provisions within ASU 2025-09 are effective for fiscal years beginning after December 15, 2026, and for interim reporting periods within those fiscal years. The provisions within ASU 2025-09 are required to be applied prospectively. The Company is currently assessing the impact the adoption of ASU 2025-09 may have on its consolidated financial statements and disclosures. In 2025, the FASB issued ASU No. 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”), which provides a practical expedient for estimating expected credit losses on current trade receivables and contract assets by assuming that current conditions persist over the life of these assets. For all entities, the provisions within ASU 2025-05 are effective for annual reporting periods beginning after December 15, 2026, and for interim reporting periods within those annual reporting periods. The provisions within ASU 2025-05 are required to be applied prospectively. The Company is currently assessing the impact the adoption of ASU 2025-05 may have on its consolidated financial statements and disclosures. In 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. Under ASU 2024-03, entities will be required to disaggregate information, in tabular format, about specific natural expense categories underlying certain income statement expense line items that are considered ‘relevant’, such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization. Additionally, ASU 2024-03 requires the disclosure of selling expenses, along with how an entity defines such expenses. For public entities, the provisions within ASU 2024-03 (as further clarified through ASU No. 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)) are effective for the first annual reporting period beginning after December 15, 2026, and for interim reporting periods within annual reporting periods beginning after December 15, 2027. The provisions within ASU 2024-03 are required to be applied prospectively; however, such provisions may be applied retrospectively for all comparative periods following the effective date. The Company is currently assessing the impact the adoption of ASU 2024-03 will have on its consolidated financial statement disclosures. In 2025, the FASB issued ASU No. 2025-06, Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”), to modernize the accounting guidance for costs to develop software for internal use. ASU 2025-06 amends the existing standard that refers to various stages of a software development project to better align with current software development methods, such as agile programming. Under ASU 2025-06, cost capitalization begins when management has authorized and committed to funding the project, and it is probable the project will be completed and the software will be used to perform its intended function. For all entities, the provisions within ASU 2025-06 are effective for fiscal years beginning after December 15, 2027, and for interim reporting periods within those fiscal years. The provisions within ASU 2025-06 can be applied either retrospectively through a cumulative-effect adjustment, prospectively to software costs incurred after the adoption date (on existing, in-process software projects or new projects), or on a modified prospective basis. The Company is currently assessing the impact the adoption of ASU 2025-06 will have on its consolidated financial statements and disclosures. In 2025, the FASB issued ASU No. 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities (“ASU 2025-10”), which amends Topic 832 to provide specific guidance on the recognition, measurement, presentation and disclosure of government grants received by business entities, including both monetary and certain non-monetary grants. For public entities, the provisions within ASU 2025-10 are effective for annual and interim periods beginning after December 15, 2028, with early adoption permitted. The provisions within ASU 2025-10 can be applied either on a modified prospective, modified retrospective, or on a retrospective approach through a cumulative-effect adjustment. The Company is currently assessing the impact the adoption of ASU 2025-10 will have on its consolidated financial statements and disclosures.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Leases - Lease Maturity (Details) $ in Millions	Dec. 31, 2025 USD ($)
Operating Leases
2026	$ 148
2027	138
2028	116
2029	90
2030	69
Thereafter	343
Total lease payments	904
Less: Interest	(141)
Present value of lease liabilities	763
Finance Leases
2026	348
2027	295
2028	239
2029	205
2030	131
Thereafter	44
Total lease payments	1,262
Less: Interest	(137)
Present value of lease liabilities	1,125
Operating lease payments related to options to extend lease terms that are reasonably certain of being exercised	84
Operating lease, lease not yet commenced, liability, to be paid	162
Finance lease, lease not yet commenced, liability, to be paid	$ 393
Maximum
Finance Leases
Operating leases not yet commenced, term	21 years
Finance leases not yet commenced, term	7 years

Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Company as Lessee

The Company primarily leases office space, data centers and equipment from third parties. The Company determines if a contract is a lease at inception. A contract contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The lease term begins on the commencement date, which is the date the Company takes possession or obtains control of the asset, and may include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. Many of the Company’s leases contain renewal options for varying periods, which can be exercised at the Company’s sole discretion. Leases are classified as operating or finance leases based on factors such as the lease term, lease payments, and the economic life, fair value and estimated residual value of the asset. Certain leases include options to purchase the leased asset at the end of the lease term, which is assessed as a part of the Company’s lease classification determination. The Company’s leases have remaining lease terms ranging from one month to 18 years.

The Company uses the right-of-use model to account for its leases. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized on the commencement date based on the present value of lease payments over the lease term. ROU assets are based on the lease liability and are increased by prepaid lease payments and decreased by lease incentives received. For leases where the Company is reasonably certain to exercise a renewal option, such option periods have been included in the determination of the Company’s ROU assets and lease liabilities. Certain leases require the Company to pay taxes, insurance, maintenance and other operating expenses associated with the leased asset. Such amounts are not included in the measurement of the ROU assets and lease liabilities to the extent they are variable in nature. These variable lease costs are recognized as variable lease expenses when incurred. As a practical expedient, lease agreements with lease and non-lease components are accounted for as a single lease component for all asset classes. The Company estimates contingent lease incentives when it is probable that the Company is entitled to the incentive at lease commencement. The Company elected the short-term lease recognition exemption for all leases that qualify. Therefore, leases with a term of 12 months or less are not recorded on the consolidated balance sheets; instead, lease payments are recognized as lease expense on a straight-line basis over the lease term. The depreciable life of the ROU assets and leasehold improvements are limited by the expected lease term unless the Company is reasonably certain of a transfer of title or purchase option. The Company uses its incremental borrowing rate to discount future lease payments in the calculation of the lease liability and ROU asset based on the information available on the commencement date for each lease. The Company’s leases typically do not provide an implicit rate. The determination of the incremental borrowing rate requires judgment and is determined using the Company’s current unsecured borrowing rate, adjusted for various factors such as collateralization, currency and term to align with the terms of the lease.

Lease Balances


	December 31,
(In millions)	2025		2024
Assets
Operating lease assets (1)	$	589	$	595
Finance lease assets (2)	1,118		611
Total lease assets	$	1,707	$	1,206

Liabilities
Current:
Operating lease liabilities (1)	$	126	$	116
Finance lease liabilities (2)	284		209
Noncurrent:
Operating lease liabilities (1)	637		654
Finance lease liabilities (2)	841		417
Total lease liabilities	$	1,888	$	1,396

Components of Lease Cost


	Year Ended December 31,
(In millions)	2025		2024		2023
Operating lease cost (1)	$	201	$	193	$	185
Finance lease cost: (2)
Amortization of right-of-use assets	278		210		189
Interest on lease liabilities	59		39		31
Total lease cost	$	538	$	442	$	405

Supplemental Cash Flow Information


	Year Ended December 31,
(In millions)	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - operating leases	$	128	$	124	$	134
Operating cash flows - finance leases	59		39		31
Financing cash flows - finance leases	345		264		207

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	56	$	105	$	76
Finance leases	924		221		279

Lease Term and Discount Rate


	December 31,
	2025		2024
Weighted-average remaining lease term:
Operating leases	9 years		10 years
Finance leases	5 years		4 years
Weighted-average discount rate:
Operating leases	3.2	%	3.1	%
Finance leases	5.2	%	5.3	%

Maturity of Lease Liabilities

Future minimum rental payments on leases with initial non-cancellable lease terms in excess of one year were due as follows at December 31, 2025:


(In millions)
Year Ending December 31,	Operating Leases (1)(2)		Finance Leases (3)
2026	$	148	$	348
2027	138		295
2028	116		239
2029	90		205
2030	69		131
Thereafter	343		44
Total lease payments	904		1,262
Less: Interest	(141)		(137)
Present value of lease liabilities	$	763	$	1,125

(1)Operating lease payments include $84 million related to options to extend lease terms that are reasonably certain of being exercised.

Company as Lessor

The Company owns certain POS terminal equipment which it leases to merchants. Leases are classified as operating or sales-type leases based on factors such as the lease term, lease payments, and the economic life, fair value and estimated residual value of the asset. The terms of the leases typically range from one month to four years. For operating leases, the minimum lease payments received are recognized as lease income within product revenue on a straight-line basis over the lease term and the leased asset is included in property and equipment, net in the consolidated balance sheets and depreciated over its estimated useful life. For sales-type leases, selling profit is recognized within product revenue at the commencement date of the lease to the extent the fair value of the underlying asset is different from its carrying amount. Selling profit is directly impacted by the Company’s estimate of the amount to be derived from the residual value of the asset at the end of the lease term. The residual value of the asset is computed using various assumptions, including the expected value of the underlying asset at the end of the lease term. Unearned income is recognized as interest income within product revenue over the lease term. For sales-type leases, the Company derecognizes the carrying amount of the underlying leased asset and recognizes a net investment in the leased asset in the consolidated balance sheets. The net investment in a leased asset is computed based on the present value of the minimum lease payments not yet received, along with the present value of the residual value of the asset less unearned interest income.

Components of Lease Income


	Year Ended December 31,
(In millions)	2025		2024		2023
Sales-type leases:
Selling profit (1)	$	92	$	74	$	56
Interest income (2)	116		87		81
Operating lease income (3)	236		243		259

(2)Interest income is included within product revenue in the consolidated statements of income.

Components of Net Investment in Sales-Type Leases


	December 31,
(In millions)	2025		2024
Minimum lease payments	$	582	$	520
Residual values	23		22
Less: Unearned interest income	(197)		(185)
Net investment in leases (1)	$	408	$	357

(1)Net investments in leased assets are included within prepaid expenses and other current assets (current portion) and other long-term assets (noncurrent portion) in the consolidated balance sheets.

Maturities of Future Minimum Lease Payment Receivables

Future minimum lease payments receivable on sales-type leases were as follows at December 31, 2025:


(In millions)
Year Ending December 31,	Sales-Type Leases
2026	$	227
2027	180
2028	123
2029	48
2030	4
Thereafter	—
Total minimum lease payments	$	582

Lease Payment Receivables Portfolio

The Company accounts for lease payment receivables in connection with POS terminal equipment as a single portfolio. The Company recognizes an allowance for expected credit losses on lease payment receivables at the commencement date of the lease by considering the term, geography and internal credit risk ratings of such lease. The internal credit risk ratings are established based on lessee specific risk factors, such as FICO score, number of years the lessee has been in business and the nature of the lessee’s industry, which are considered indicators of the likelihood a lessee may default in the future. The allowance for estimated credit losses on lease payment receivables was $55 million and $50 million at December 31, 2025 and 2024, respectively.

The Company determines delinquency status on lease payment receivables based on the number of calendar days past due. The Company considers lease payments that are 90 days or less past due as performing. Lease payments that are greater than 90 days past due are placed on non-accrual status in which interest income within product revenue is no longer recognized. Lease payment receivables are fully written off in the period they become delinquent greater than 180 days past due. Lease payment receivables that were determined to be on non-accrual status were nominal at each of December 31, 2025 and 2024.

Company as Lessee

Lease Balances


	December 31,
(In millions)	2025		2024
Assets
Operating lease assets (1)	$	589	$	595
Finance lease assets (2)	1,118		611
Total lease assets	$	1,707	$	1,206

Liabilities
Current:
Operating lease liabilities (1)	$	126	$	116
Finance lease liabilities (2)	284		209
Noncurrent:
Operating lease liabilities (1)	637		654
Finance lease liabilities (2)	841		417
Total lease liabilities	$	1,888	$	1,396

Components of Lease Cost


	Year Ended December 31,
(In millions)	2025		2024		2023
Operating lease cost (1)	$	201	$	193	$	185
Finance lease cost: (2)
Amortization of right-of-use assets	278		210		189
Interest on lease liabilities	59		39		31
Total lease cost	$	538	$	442	$	405

Supplemental Cash Flow Information


	Year Ended December 31,
(In millions)	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - operating leases	$	128	$	124	$	134
Operating cash flows - finance leases	59		39		31
Financing cash flows - finance leases	345		264		207

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	56	$	105	$	76
Finance leases	924		221		279

Lease Term and Discount Rate


	December 31,
	2025		2024
Weighted-average remaining lease term:
Operating leases	9 years		10 years
Finance leases	5 years		4 years
Weighted-average discount rate:
Operating leases	3.2	%	3.1	%
Finance leases	5.2	%	5.3	%

Maturity of Lease Liabilities

Future minimum rental payments on leases with initial non-cancellable lease terms in excess of one year were due as follows at December 31, 2025:


(In millions)
Year Ending December 31,	Operating Leases (1)(2)		Finance Leases (3)
2026	$	148	$	348
2027	138		295
2028	116		239
2029	90		205
2030	69		131
Thereafter	343		44
Total lease payments	904		1,262
Less: Interest	(141)		(137)
Present value of lease liabilities	$	763	$	1,125

(1)Operating lease payments include $84 million related to options to extend lease terms that are reasonably certain of being exercised.

Company as Lessor

Components of Lease Income


	Year Ended December 31,
(In millions)	2025		2024		2023
Sales-type leases:
Selling profit (1)	$	92	$	74	$	56
Interest income (2)	116		87		81
Operating lease income (3)	236		243		259

(2)Interest income is included within product revenue in the consolidated statements of income.

Components of Net Investment in Sales-Type Leases


	December 31,
(In millions)	2025		2024
Minimum lease payments	$	582	$	520
Residual values	23		22
Less: Unearned interest income	(197)		(185)
Net investment in leases (1)	$	408	$	357

(1)Net investments in leased assets are included within prepaid expenses and other current assets (current portion) and other long-term assets (noncurrent portion) in the consolidated balance sheets.

Maturities of Future Minimum Lease Payment Receivables

Future minimum lease payments receivable on sales-type leases were as follows at December 31, 2025:


(In millions)
Year Ending December 31,	Sales-Type Leases
2026	$	227
2027	180
2028	123
2029	48
2030	4
Thereafter	—
Total minimum lease payments	$	582

Lease Payment Receivables Portfolio

Company as Lessee

Lease Balances


	December 31,
(In millions)	2025		2024
Assets
Operating lease assets (1)	$	589	$	595
Finance lease assets (2)	1,118		611
Total lease assets	$	1,707	$	1,206

Liabilities
Current:
Operating lease liabilities (1)	$	126	$	116
Finance lease liabilities (2)	284		209
Noncurrent:
Operating lease liabilities (1)	637		654
Finance lease liabilities (2)	841		417
Total lease liabilities	$	1,888	$	1,396

Components of Lease Cost


	Year Ended December 31,
(In millions)	2025		2024		2023
Operating lease cost (1)	$	201	$	193	$	185
Finance lease cost: (2)
Amortization of right-of-use assets	278		210		189
Interest on lease liabilities	59		39		31
Total lease cost	$	538	$	442	$	405

Supplemental Cash Flow Information


	Year Ended December 31,
(In millions)	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - operating leases	$	128	$	124	$	134
Operating cash flows - finance leases	59		39		31
Financing cash flows - finance leases	345		264		207

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	56	$	105	$	76
Finance leases	924		221		279

Lease Term and Discount Rate


	December 31,
	2025		2024
Weighted-average remaining lease term:
Operating leases	9 years		10 years
Finance leases	5 years		4 years
Weighted-average discount rate:
Operating leases	3.2	%	3.1	%
Finance leases	5.2	%	5.3	%

Maturity of Lease Liabilities

Future minimum rental payments on leases with initial non-cancellable lease terms in excess of one year were due as follows at December 31, 2025:


(In millions)
Year Ending December 31,	Operating Leases (1)(2)		Finance Leases (3)
2026	$	148	$	348
2027	138		295
2028	116		239
2029	90		205
2030	69		131
Thereafter	343		44
Total lease payments	904		1,262
Less: Interest	(141)		(137)
Present value of lease liabilities	$	763	$	1,125

(1)Operating lease payments include $84 million related to options to extend lease terms that are reasonably certain of being exercised.

Company as Lessor

Components of Lease Income


	Year Ended December 31,
(In millions)	2025		2024		2023
Sales-type leases:
Selling profit (1)	$	92	$	74	$	56
Interest income (2)	116		87		81
Operating lease income (3)	236		243		259

(2)Interest income is included within product revenue in the consolidated statements of income.

Components of Net Investment in Sales-Type Leases


	December 31,
(In millions)	2025		2024
Minimum lease payments	$	582	$	520
Residual values	23		22
Less: Unearned interest income	(197)		(185)
Net investment in leases (1)	$	408	$	357

(1)Net investments in leased assets are included within prepaid expenses and other current assets (current portion) and other long-term assets (noncurrent portion) in the consolidated balance sheets.

Maturities of Future Minimum Lease Payment Receivables

Future minimum lease payments receivable on sales-type leases were as follows at December 31, 2025:


(In millions)
Year Ending December 31,	Sales-Type Leases
2026	$	227
2027	180
2028	123
2029	48
2030	4
Thereafter	—
Total minimum lease payments	$	582

Lease Payment Receivables Portfolio

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Company as Lessee

Lease Balances


	December 31,
(In millions)	2025		2024
Assets
Operating lease assets (1)	$	589	$	595
Finance lease assets (2)	1,118		611
Total lease assets	$	1,707	$	1,206

Liabilities
Current:
Operating lease liabilities (1)	$	126	$	116
Finance lease liabilities (2)	284		209
Noncurrent:
Operating lease liabilities (1)	637		654
Finance lease liabilities (2)	841		417
Total lease liabilities	$	1,888	$	1,396

Components of Lease Cost


	Year Ended December 31,
(In millions)	2025		2024		2023
Operating lease cost (1)	$	201	$	193	$	185
Finance lease cost: (2)
Amortization of right-of-use assets	278		210		189
Interest on lease liabilities	59		39		31
Total lease cost	$	538	$	442	$	405

Supplemental Cash Flow Information


	Year Ended December 31,
(In millions)	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - operating leases	$	128	$	124	$	134
Operating cash flows - finance leases	59		39		31
Financing cash flows - finance leases	345		264		207

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	56	$	105	$	76
Finance leases	924		221		279

Lease Term and Discount Rate


	December 31,
	2025		2024
Weighted-average remaining lease term:
Operating leases	9 years		10 years
Finance leases	5 years		4 years
Weighted-average discount rate:
Operating leases	3.2	%	3.1	%
Finance leases	5.2	%	5.3	%

Maturity of Lease Liabilities

Future minimum rental payments on leases with initial non-cancellable lease terms in excess of one year were due as follows at December 31, 2025:


(In millions)
Year Ending December 31,	Operating Leases (1)(2)		Finance Leases (3)
2026	$	148	$	348
2027	138		295
2028	116		239
2029	90		205
2030	69		131
Thereafter	343		44
Total lease payments	904		1,262
Less: Interest	(141)		(137)
Present value of lease liabilities	$	763	$	1,125

(1)Operating lease payments include $84 million related to options to extend lease terms that are reasonably certain of being exercised.

Company as Lessor

Components of Lease Income


	Year Ended December 31,
(In millions)	2025		2024		2023
Sales-type leases:
Selling profit (1)	$	92	$	74	$	56
Interest income (2)	116		87		81
Operating lease income (3)	236		243		259

(2)Interest income is included within product revenue in the consolidated statements of income.

Components of Net Investment in Sales-Type Leases


	December 31,
(In millions)	2025		2024
Minimum lease payments	$	582	$	520
Residual values	23		22
Less: Unearned interest income	(197)		(185)
Net investment in leases (1)	$	408	$	357

(1)Net investments in leased assets are included within prepaid expenses and other current assets (current portion) and other long-term assets (noncurrent portion) in the consolidated balance sheets.

Maturities of Future Minimum Lease Payment Receivables

Future minimum lease payments receivable on sales-type leases were as follows at December 31, 2025:


(In millions)
Year Ending December 31,	Sales-Type Leases
2026	$	227
2027	180
2028	123
2029	48
2030	4
Thereafter	—
Total minimum lease payments	$	582

Lease Payment Receivables Portfolio

Summary of Significant Accounting Policies - Asset Impairment (Details)	12 Months Ended
	Dec. 31, 2025 USD ($)
Accounting Policies [Abstract]
Asset impairment charges	$ 0

Settlement Assets and Obligations

12 Months Ended

Dec. 31, 2025

Settlement Assets and Obligations

The principal components of the Company’s settlement assets were as follows:


	December 31,
(In millions)	2025		2024
Settlement assets
Cash and cash equivalents	$	1,978	$	1,756
Receivables	14,501		13,673
Total settlement assets	$	16,479	$	15,429

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 2,300	$ 2,300	$ 2,400
Capitalized software and other intangibles
Finite-Lived Intangible Assets [Line Items]
Gross software development costs capitalized	$ 1,100	$ 942	$ 870

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

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-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483154/926-20-50-5

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 6,138	$ 5,072
Less: Accumulated depreciation	(3,054)	(2,698)
Total	3,084	2,374
Depreciation expense	669	589	$ 566
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	44	44
Data processing equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,812	3,789
Data processing equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Data processing equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 865	845
Buildings and leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Buildings and leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	40 years
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 417	$ 394
Furniture and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Furniture and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	8 years

Intangible Assets

12 Months Ended

Dec. 31, 2025

Intangible Assets

Identifiable intangible assets consisted of the following:


	Gross Carrying Amount		Accumulated Amortization		Net Book Value
(In millions)
December 31, 2025
Customer relationships	$	14,773	$	9,680	$	5,093
Acquired software and technology	2,150		1,356		794
Trade names	633		458		175
Purchased software	1,397		441		956
Capitalized software and other intangibles	5,040		1,897		3,143
Total	$	23,993	$	13,832	$	10,161

December 31, 2024
Customer relationships	$	14,488	$	8,620	$	5,868
Acquired software and technology	1,935		1,159		776
Trade names	635		410		225
Purchased software	1,019		517		502
Capitalized software and other intangibles	3,974		1,405		2,569
Total	$	22,051	$	12,111	$	9,940

Gross software development costs capitalized for new products and enhancements to existing products totaled $1.1 billion, $942 million and $870 million for the years ended December 31, 2025, 2024 and 2023, respectively. Amortization expense associated with the above identifiable intangible assets was $2.3 billion for each of the years ended December 31, 2025 and 2024 and $2.4 billion for the year ended December 31, 2023.

The Company estimates that annual amortization expense with respect to intangible assets recorded at December 31, 2025 will be as follows:


(In millions)
Year Ending December 31,
2026	$	2,359
2027	2,086
2028	1,696
2029	1,276
2030	869
Thereafter	1,875
Total	$	10,161

Leases - Lessor, Maturities of Future Minimum Lease Payments (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
2026	$ 227
2027	180
2028	123
2029	48
2030	4
Thereafter	0
Total minimum lease payments	$ 582	$ 520

Debt (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of debt, net of discounts and debt issuance costs

The Company’s debt consisted of the following:


	December 31,
(In millions)	2025		2024
Short-term and current maturities of long-term debt:
Foreign lines of credit	$	762	$	784
Finance lease and other financing obligations	477		326
Total short-term and current maturities of long-term debt	$	1,239	$	1,110

Long-term debt:






3.850% senior notes due June 2025	$	—	$	900
2.250% senior notes due July 2025 (British Pound-denominated)	—		661
3.200% senior notes due July 2026	2,000		2,000
5.150% senior notes due March 2027	750		750
2.250% senior notes due June 2027	1,000		1,000
1.125% senior notes due July 2027 (Euro-denominated)	589		521
5.450% senior notes due March 2028	900		900
2.875% senior notes due June 2028 (Euro-denominated)	883		—
5.375% senior notes due August 2028	700		700
4.200% senior notes due October 2028	1,000		1,000
3.500% senior notes due July 2029	3,000		3,000
4.750% senior notes due March 2030	850		850
2.650% senior notes due June 2030	1,000		1,000
1.625% senior notes due July 2030 (Euro-denominated)	589		521
4.550% senior notes due February 2031	1,000		—
5.350% senior notes due March 2031	500		500
4.500% senior notes due May 2031 (Euro-denominated)	942		835
3.000% senior notes due July 2031 (British Pound-denominated)	709		661
3.500% senior notes due June 2032 (Euro-denominated)	912		—
5.600% senior notes due March 2033	900		900
5.625% senior notes due August 2033	1,300		1,300
5.450% senior notes due March 2034	750		750
5.150% senior notes due August 2034	900		900
5.250% senior notes due August 2035	1,000		—
4.000% senior notes due June 2036 (Euro-denominated)	765		—
4.400% senior notes due July 2049	2,000		2,000
U.S. dollar commercial paper notes	326		221
Euro commercial paper notes	839		1,239
Revolving credit facility	188		115


Unamortized discount and deferred financing costs	(169)		(150)
Finance lease and other financing obligations	1,635		656
Total long-term debt	$	27,758	$	23,730

Schedule of annual maturities of total debt

Annual maturities of the Company’s total debt were as follows at December 31, 2025:


(In millions)
Year Ending December 31,
2026	$	1,239
2027	2,804
2028	3,885
2029	3,364
2030	6,037
Thereafter	11,837
Total principal payments	29,166
Unamortized discount and deferred financing costs	(169)
Total debt	$	28,997

Schedule of short-term debt

The following table provides a summary of the outstanding borrowings and weighted average interest rates of the Company’s foreign lines of credit and other borrowing arrangements by country at December 31:


	Outstanding Borrowings (In millions)				Weighted-Average Interest Rate
	2025		2024		2025		2024
Argentina	$	282	$	597	51.559	%	38.470	%
Brazil	365		94		15.482	%	12.976	%
Uruguay and Other	115		93		7.964	%	7.014	%
Total	$	762	$	784	27.727	%	31.695	%

Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Millions		3 Months Ended			12 Months Ended
	Apr. 01, 2025	Dec. 31, 2025	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates		$ 1,046	$ 1,506		$ 1,046	$ 1,506
Income tax expense (benefit)					811	641	$ 754
Net pre-tax gain					37	(685)	(15)
Cash distributions from unconsolidated affiliate					86	99	191
Distributions from unconsolidated affiliates					42	60	136
Equity method investment, realized gain (loss) on disposal					37
Equity securities without readily determinable fair value		126	250		126	250
Equity securities without readily determinable fair value, upward price adjustment, annual amount					82	29	0
Proceeds from sale of investments		210			756	61	$ 5
Line of Credit \| Revolving Credit Facility
Schedule of Equity Method Investments [Line Items]
Maximum borrowing capacity		8,000			8,000
Line of Credit \| Variable-Rate Term Loan Facilities Due April 2027 \| Term Loan Facilities
Schedule of Equity Method Investments [Line Items]
Maximum borrowing capacity		399			399
Line of Credit \| Variable-Rate Revolving Credit Facilities Due April 2027 \| Revolving Credit Facility
Schedule of Equity Method Investments [Line Items]
Maximum borrowing capacity		83			83
Outstanding debt		$ 18			$ 18
Wells Fargo Merchant Services (WFMS)
Schedule of Equity Method Investments [Line Items]
Percentage of interest owned in affiliate		40.00%			40.00%
Proceeds from divestiture of interest in joint venture	$ 453
Equity method investment, other-than-temporary impairment			25	$ 570	$ 4	595
Income tax expense (benefit)						(129)
Lending Joint Ventures
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates		$ 88	49		88	49
Other Strategic Investments
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates		208	218		208	218
Merchant Alliances
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated affiliates		$ 736	$ 1,200		$ 736	$ 1,200

Commitments and Contingencies (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Loss Contingencies [Line Items]
Subscriber funds	$ 1,700	$ 1,300
Subsidiary Merchant Matters
Loss Contingencies [Line Items]
Loss contingency accrual	25	$ 43
Subsidiary Merchant Matters \| Minimum
Loss Contingencies [Line Items]
Estimated range of exposure	0
Subsidiary Merchant Matters \| Maximum
Loss Contingencies [Line Items]
Estimated range of exposure	$ 160

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-4

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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147483359/720-20-50-1

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-URI https://asc.fasb.org/1943274/2147482395/460-10-55-27

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Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging Instruments

12 Months Ended

Dec. 31, 2025

Derivatives and Hedging Instruments

In order to limit exposure to risk, the Company maintains derivative instruments with creditworthy institutions to hedge against changing interest rates and foreign currency rate fluctuations. The Company utilizes forward exchange contracts, fixed-to-fixed cross-currency rate swap contracts and other non-derivative hedging instruments to manage such risk. The Company has

designated these instruments as cash flow hedges, net investment hedges, or fair value hedges, as further described below. Derivative instruments maintained by the Company are measured on a recurring basis and are recorded at fair value either as an asset or liability in the consolidated balance sheets (see Note 10).

Cash Flow Hedges

The Company maintains forward exchange contracts, designated as cash flow hedges, to hedge foreign currency exposure to the Indian Rupee. The notional amount of these derivatives was $323 million and $481 million at December 31, 2025 and 2024, respectively. Based on the amounts recorded in accumulated other comprehensive loss at December 31, 2025, the Company estimates that it will recognize losses of approximately $10 million in cost of processing and services during the next 12 months as foreign exchange forward contracts settle.

The Company previously entered into treasury lock agreements (“Treasury Locks”), designated as cash flow hedges, to manage exposure to fluctuations in benchmark interest rates in anticipation of the issuance of fixed rate debt in connection with the acquisition and refinancing of certain indebtedness of First Data Corporation and its subsidiaries. In 2019, concurrent with the issuance of U.S dollar-denominated senior notes, the Treasury Locks were settled resulting in a loss, net of income taxes, and recorded in accumulated other comprehensive loss that is being amortized to earnings over the terms of the originally forecast interest payments. The unamortized balance recorded in accumulated other comprehensive loss related to the Treasury Locks was $88 million and $101 million at December 31, 2025 and 2024, respectively. Based on the amounts recorded in accumulated other comprehensive loss at December 31, 2025, the Company estimates that it will recognize approximately $13 million in net interest expense during the next 12 months related to settled interest rate hedge contracts.

Net Investment Hedges

The aggregate notional amount of the fixed-to-fixed cross-currency rate swap contracts were as follows:


	December 31,
(In millions)	2025	2024
Currency
Euros	940	600
Singapore Dollars	828	841
Canadian Dollars	405	259

These fixed-to-fixed cross-currency rate swaps have been designated as net investment hedges to hedge a portion of the Company’s net investment in certain subsidiaries whose functional currencies are the Euro, Singapore Dollar, and Canadian Dollar. The Company has also designated certain of its Euro- and British Pound-denominated senior notes and Euro commercial paper notes as net investment hedges to hedge a portion of its net investment in certain subsidiaries whose functional currencies are the Euro and the British Pound.

Foreign currency transaction gains or losses on the qualifying net investment hedge instruments are recorded as foreign currency translation within other comprehensive income (loss) in the consolidated statements of comprehensive income and will remain in accumulated other comprehensive loss in the consolidated balance sheets until the sale or complete liquidation of the underlying foreign currency-denominated subsidiaries.



	Year Ended December 31,
(In millions)	2025		2024		2023
Cross-currency rate swap contracts	$	(85)	$	32	$	(29)
Foreign currency-denominated debt	(328)		166		(177)

The Company recorded income tax impacts of $138 million, $(66) million and $68 million for the years ended December 31, 2025, 2024 and 2023, respectively, in other comprehensive income (loss) from the translation of foreign currency-denominated senior notes, Euro commercial paper notes and fixed-to-fixed cross-currency rate swap contracts.

Fair Value Hedges

The Company previously maintained a fixed-to-fixed cross-currency rate swap contract in the notional amount of 525 million British Pounds, designated as a fair value hedge, to mitigate the spot foreign exchange rate risk on the principal amount of its British Pound-denominated 2.250% senior notes, which matured in July 2025, as well as fixed-to-fixed cross-currency rate swap contracts on the principal amount of a Euro-denominated intercompany note, which was repaid in 2024. Net changes in the fair value of the cross-currency rate swaps ($60 million gain, $8 million loss and $6 million loss for the years ended December 31, 2025, 2024 and 2023, respectively), along with the offsetting change in the fair value of the hedged notes, attributable to fluctuations in the respective foreign currency spot rates were recognized in other expense, net within the consolidated statements of income.

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-5C

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Changes in accumulated other comprehensive loss by component, net of income taxes, consisted of the following:


(In millions)	Derivatives		Foreign Currency Translation		Pension Plans		Total
Year Ended December 31, 2025
Balance at December 31, 2024	$	(79)	$	(1,327)	$	(7)	$	(1,413)
Other comprehensive income (loss) before reclassifications	(7)		419		2		414
Amounts reclassified from accumulated other comprehensive loss	15		—		—		15
Net current-period other comprehensive income	8		419		2		429
Balance at December 31, 2025	$	(71)	$	(908)	$	(5)	$	(984)

Year Ended December 31, 2024
Balance at December 31, 2023	$	(78)	$	(688)	$	(17)	$	(783)
Other comprehensive loss before reclassifications	(10)		(639)		(88)		(737)
Amounts reclassified from accumulated other comprehensive loss	9		—		98		107
Net current-period other comprehensive (loss) income	(1)		(639)		10		(630)


Balance at December 31, 2024	$	(79)	$	(1,327)	$	(7)	$	(1,413)

Income Taxes

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

The provision for income taxes is based on income before income taxes and income (loss) from investments in unconsolidated affiliates, as follows:


	Year Ended December 31,
(In millions)	2025		2024		2023
United States	$	3,572	$	3,683	$	3,342
Foreign	692		823		556
Total	$	4,264	$	4,506	$	3,898

The income tax provision was as follows:


	Year Ended December 31,
(In millions)	2025		2024		2023
Components of income tax provision (benefit):
Current:
Federal	$	1,288	$	831	$	913
State	221		242		148
Foreign	244		230		204
	1,753		1,303		1,265
Deferred:
Federal	(759)		(407)		(380)
State	(70)		(112)		(12)
Foreign	(113)		(143)		(119)
	(942)		(662)		(511)
Income tax provision	$	811	$	641	$	754

An income tax rate reconciliation pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025 is as follows:



(In millions)	Amount		Percent
U.S. federal statutory income tax rate	$	896	21.0	%
United States:
State and local income taxes (1)	107		2.5	%
Effect of cross-border tax laws	22		0.5	%
Tax credits
Transferable federal tax credits	(96)		(2.3)	%
Foreign tax credits	(66)		(1.5)	%
Other	(14)		(0.3)	%

Nontaxable or nondeductible items
Excess tax benefit from share-based awards	(55)		(1.3)	%
Other	18		0.4	%
Other adjustments	10		0.2	%



Foreign tax effects:
Other foreign jurisdictions	(14)		(0.3)	%

Changes in unrecognized tax benefits	3		0.1	%
Income tax provision	$	811	19.0	%

(1)State and local income taxes in California, Illinois, New Jersey, New York and Pennsylvania comprise the majority (greater than 50%) of the tax effect in this category.

A reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate is as follows:


	Year Ended December 31,
	2024		2023
U.S. federal statutory income tax rate	21.0	%	21.0	%
State income taxes, net of federal effect	2.6	%	2.8	%




Foreign derived intangibles income deduction	—	%	(0.4)	%
Excess tax benefit from share-based awards	(1.3)	%	(0.8)	%
Sale of businesses and subsidiary restructuring	(0.2)	%	(1.3)	%

Unrecognized tax benefits	—	%	(0.2)	%
Nondeductible executive compensation	0.3	%	0.2	%
Transferable federal tax credits	(2.3)	%	(1.4)	%
Non-cash impairment charge (see Note 8)	(2.9)	%	—	%
Valuation allowance	(1.0)	%	(0.6)	%
Other, net	(2.0)	%	—	%
Effective income tax rate	14.2	%	19.3	%

Pursuant to provisions under the Inflation Reduction Act, the Company purchased transferable federal tax credits during 2025, 2024 and 2023 from various counterparties. Such federal tax credits were purchased at negotiated discounts, resulting in an income tax benefit recorded during each of the years ended December 31, 2025, 2024 and 2023. Receivables associated with transferable federal tax credits are recorded within prepaid expenses and other current assets, and amounts owed to counterparties for the purchased credits are recorded within accounts payable and other current liabilities within the consolidated balance sheets at December 31, 2025 and 2024.

A summary of income taxes paid by jurisdiction pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025 is as follows:


(In millions)
United States - Federal	$	939
United States - State and local	216
Foreign	214
Income taxes paid, net of amounts refunded	$	1,369

Significant components of deferred tax assets and liabilities consisted of the following:


	December 31,
(In millions)	2025		2024
Accrued expenses	$	132	$	167

Share-based compensation	80		93
Net operating loss and credit carry-forwards	986		586

Leasing liabilities	177		258
Other	362		215
Subtotal	1,737		1,319
Valuation allowance	(420)		(404)
Total deferred tax assets	1,317		915

Capitalized software development costs	(158)		(219)
Intangible assets	(1,517)		(1,728)
Property and equipment	(166)		(278)
Capitalized commissions	(101)		(108)
Investments in joint ventures	(250)		(392)
Leasing right-of-use assets	(139)		(220)

Other	(355)		(371)
Total deferred tax liabilities	(2,686)		(3,316)
Total	$	(1,369)	$	(2,401)

The Company maintained a valuation allowance of $420 million and $404 million at December 31, 2025 and 2024, respectively, against its deferred tax assets. Substantially all of the valuation allowance relates to certain foreign and state net operating loss carryforwards.

Deferred tax assets and liabilities are reported in the consolidated balance sheets as follows:


	December 31,
(In millions)	2025		2024
Noncurrent assets	$	109	$	76
Noncurrent liabilities	(1,478)		(2,477)
Total	$	(1,369)	$	(2,401)

Noncurrent deferred tax assets are included in other long-term assets in the consolidated balance sheets at December 31, 2025 and 2024.

Federal, state and foreign net operating loss carryforwards and tax credit carryforwards consisted of the following:


	December 31,
(In millions)	2025		2024
Net operating loss carryforwards: (1)
Federal	$	36	$	28
State	2,732		2,829
Foreign	1,818		1,597
Tax credit carryforwards (2)	396		43

(2)At December 31, 2025, the Company had tax credit carryforwards, including transferable federal tax credits, of $396 million, most of which expire in 2026 through 2045.

The Company asserts that its investment in its foreign subsidiaries is intended to be indefinitely reinvested. Undistributed historical and future earnings of its foreign subsidiaries are not considered to be indefinitely reinvested. Should these earnings be distributed in the future in the form of dividends or otherwise, the Company may be subject to foreign or U.S. taxes. The Company has the ability and intent to limit distributions so as to not make a distribution in excess of its investment in those subsidiaries. The Company will continue to monitor its global cash requirements and the need to recognize a deferred tax liability accordingly.

Unrecognized tax benefits were as follows:


	December 31,
(In millions)	2025		2024		2023
Unrecognized tax benefits - Beginning of year	$	85	$	84	$	96

Increases for tax positions taken during the current year	2		2		2
Increases for tax positions taken in prior years	19		4		8
Decreases for tax positions taken in prior years	—		—		(10)
Decreases for settlements	—		—		(3)
Lapse of the statute of limitations	(9)		(5)		(9)
Unrecognized tax benefits - End of year	$	97	$	85	$	84

At December 31, 2025, unrecognized tax benefits of $60 million, net of federal and state benefits, would affect the Company’s effective income tax rate if recognized.

The Company classifies interest expense and penalties related to income taxes as components of its income tax provision. The income tax provision included interest expense (benefits) and penalties on unrecognized tax benefits of $(1) million in 2025, $1 million in 2024 and $2 million in 2023. Accrued interest expense and penalties related to unrecognized tax benefits totaled $14 million and $16 million at December 31, 2025 and 2024, respectively.

The Company’s U.S. federal income tax returns for 2020 through 2025, and tax returns in certain states and foreign jurisdictions for 2017 through 2025, remain subject to examination by taxing authorities.

The entire disclosure for income tax.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 84	$ 71

Revenue Recognition - Remaining Performance Obligation (Details) $ in Millions	Dec. 31, 2025 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 2,537
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 1,952
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 1,411
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 842
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 826
Performance obligations expected to be satisfied, expected timing

Revenue Recognition - Contract with Customer, Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract assets	$ 885	$ 832	$ 754
Contract liabilities	$ 1,124	$ 1,082	$ 1,011

Intangible Assets - Schedule of Intangible Assets by Class (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 23,993	$ 22,051
Accumulated Amortization	13,832	12,111
Net Book Value	10,161	9,940
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	14,773	14,488
Accumulated Amortization	9,680	8,620
Net Book Value	5,093	5,868
Acquired software and technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,150	1,935
Accumulated Amortization	1,356	1,159
Net Book Value	794	776
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	633	635
Accumulated Amortization	458	410
Net Book Value	175	225
Purchased software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,397	1,019
Accumulated Amortization	441	517
Net Book Value	956	502
Capitalized software and other intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,040	3,974
Accumulated Amortization	1,897	1,405
Net Book Value	$ 3,143	$ 2,569

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Goodwill and Intangible Assets Disclosure [Abstract]

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefits - Beginning of year	$ 85	$ 84	$ 96
Increases for tax positions taken during the current year	2	2	2
Increases for tax positions taken in prior years	19	4	8
Decreases for tax positions taken in prior years	0	0	(10)
Decreases for settlements	0	0	(3)
Lapse of the statute of limitations	(9)	(5)	(9)
Unrecognized tax benefits - End of year	$ 97	$ 85	$ 84

Summary of Significant Accounting Policies - Employee Benefit Plans (Details) - USD ($) $ in Millions		3 Months Ended			12 Months Ended
	Jan. 01, 2026	Jun. 30, 2025	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan, employer matching contribution, percent of match					100.00%
Defined contributed plan, maximum annual contributions per employee, percent					1.00%
Defined contribution plan, employer matching contribution, percent of additional match					50.00%
Defined contribution plan, maximum additional annual contributions per employee, percent					4.00%
Contributions to defined contribution plans					$ 77	$ 81	$ 78
Defined benefit plan, actuarial gain (loss), immediate recognition as component in net periodic benefit (cost) credit				$ (63)
Defined benefit plan, cost of providing special and contractual termination benefits			$ 20
Pension and other postretirement benefits expense (reversal of expense), noncash			$ 147		$ 0	$ 147	$ 0
Excise and sales taxes		$ 43
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Immediate Recognition of Actuarial Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]				Accumulated other comprehensive loss
Subsequent Event
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan, employer matching contribution, percent of match	100.00%
Defined contributed plan, maximum annual contributions per employee, percent	2.00%
Defined contribution plan, employer matching contribution, percent of additional match	50.00%
Defined contribution plan, maximum additional annual contributions per employee, percent	4.00%

Goodwill (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of goodwill

The following table presents changes in goodwill during the years ended December 31, 2025 and 2024.


	Reportable Segments
(In millions)	Acceptance		Fintech		Payments		Merchant		Financial		Total
Goodwill - December 31, 2023	$	21,568	$	2,666	$	12,971	$	—	$	—	$	37,205




Reallocation (1)	(21,568)		(2,666)		(12,971)		22,850		14,355		—
Foreign currency translation	—		—		—		(509)		(112)		(621)
Goodwill - December 31, 2024	—		—		—		22,341		14,243		36,584
Acquisitions	—		—		—		255		227		482


Foreign currency translation	—		—		—		510		127		637
Goodwill - December 31, 2025	$	—	$	—	$	—	$	23,106	$	14,597	$	37,703

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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Business Segment Information

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue recognized which was included in the contract liability balance	$ 819	$ 761
Capitalized contract costs, amortization	$ 228	$ 221	$ 195

Leases - Lease Term and Discount Rate (Details)	Dec. 31, 2025	Dec. 31, 2024
Weighted-average remaining lease term:
Operating leases	9 years	10 years
Finance leases	5 years	4 years
Weighted-average discount rate:
Operating leases	3.20%	3.10%
Finance leases	5.20%	5.30%

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2025
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Milwaukee, Wisconsin
Auditor Firm ID	34

Business Segment Information

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

The Company’s operations are comprised of two reportable segments, the Merchant segment and the Financial segment. The businesses in the Merchant segment provide commerce-enabling products and services to companies of all sizes around the world. These products and services include merchant acquiring and digital commerce services; mobile payment services; security and fraud protection solutions; stored-value solutions; and pay-by-bank solutions. The business lines (operating segments) aggregated within the Merchant segment consist of the following:

•Small Business – provides products and services to small businesses and independent software vendors, including Clover®, the Company's POS and business management platform for small business clients

•Enterprise – provides products and services to large businesses, including the Company’s integrated omnichannel operating system for enterprise clients

•Processing – provides products and services to financial institutions, joint ventures, and other third party resellers which have direct relationships with merchants

The Company distributes the products and services in the Merchant segment businesses through a variety of channels, including direct sales teams, strategic partnerships with agent sales forces, independent software vendors, financial institutions and other strategic partners in the form of joint venture alliances, revenue sharing alliances and referral agreements.

The businesses in the Financial segment provide products and services to financial institution, corporate and public sector clients across the world, enabling the processing of customer loan and deposit accounts, digital payments and card transactions. The business lines (operating segments) aggregated within the Financial segment consist of the following:

•Digital Payments – provides debit card processing services; debit network services; security and fraud protection products; bill payment; person-to-person payments; and account-to-account transfers

•Issuing – provides credit card processing services; prepaid card processing services; card production services; print services; government payment processing; and student loan processing

•Banking – provides customer loan and deposit account processing; digital banking; financial and risk management; professional services and consulting; and check processing

Corporate and Other supports the reportable segments described above, and consists of amortization of acquisition-related intangible assets, unallocated corporate expenses and other activities that are not considered when management evaluates segment performance, such as gains or losses on sales of businesses, certain assets or investments; costs associated with acquisition and divestiture activity; certain services revenue associated with various dispositions; expenses associated with the Company’s transformation initiative focused on operational excellence; and postage reimbursements.

The Company’s Chief Executive Officer, who is also the Company’s chief operating decision maker (“CODM”), assesses segment performance and makes strategic decisions on the allocation of resources. Additionally, the Company’s Chief Executive Officer provides oversight on business leadership and corporate strategy to the executive leadership team, who manages the day to day operations of the various business lines.

The CODM uses reportable segment operating income to evaluate segment performance and allocate resources, primarily during the annual budget and forecasting processes. The CODM regularly reviews variances between forecasted and actual results in assessing earnings, operational efficiency and growth performance, and allocating resources including personnel and capital allocations, to each reportable segment. There are no intersegment revenues contained within the respective reportable segment revenues.

Operating results for each reportable segment were as follows:


	Reportable Segments
(In millions)	Merchant		Financial		Total
Year Ended December 31, 2025
Revenues:
Processing and services revenue	$	8,866	$	8,013
Product revenue	1,274		1,651
Reportable segment revenue	$	10,140	$	9,664	$	19,804
Corporate and Other revenue (1)					1,389
Total Company revenue					$	21,193
Expenses:
Personnel expenses (2)	1,385		2,025
Direct costs (3)	3,488		810
Depreciation and amortization expense	438		510
Other operating expense (4)	682		490
Allocations from Corporate and Other (5)	645		1,449

Reportable segment operating income	$	3,502	$	4,380	$	7,882
Corporate and Other operating loss (6)					(2,064)

Interest expense, net					(1,493)
Other expense, net (7)					(61)
Income before income taxes and income from investments in unconsolidated affiliates					$	4,264


	Reportable Segments
(In millions)	Merchant		Financial		Total
Year Ended December 31, 2024
Revenues:
Processing and services revenue	$	8,557	$	8,065
Product revenue	1,074		1,412
Reportable segment revenue	$	9,631	$	9,477	$	19,108
Corporate and Other revenue (1)					1,348
Total Company revenue					$	20,456
Expenses:
Personnel expenses (2)	1,298		1,949
Direct costs (3)	3,164		748
Depreciation and amortization expense	367		465
Other operating expense (4)	592		367
Allocations from Corporate and Other (5)	649		1,463

Reportable segment operating income	$	3,561	$	4,485	$	8,046
Corporate and Other operating loss (6)					(2,167)

Interest expense, net					(1,195)
Other expense, net (7)					(178)
Income before income taxes and loss from investments in unconsolidated affiliates					$	4,506


	Reportable Segments
(In millions)	Merchant		Financial		Total
Year Ended December 31, 2023
Revenues:
Processing and services revenue	$	7,637	$	7,970
Product revenue	1,085		1,131
Reportable segment revenue	$	8,722	$	9,101	$	17,823
Corporate and Other revenue (1)					1,270
Total Company revenue					$	19,093
Expenses:
Personnel expenses (2)	1,321		2,010
Direct costs (3)	2,906		780
Depreciation and amortization expense	328		404
Other operating expense (4)	564		315
Allocations from Corporate and Other (5)	629		1,414

Reportable segment operating income	$	2,974	$	4,178	$	7,152
Corporate and Other operating loss (6)					(2,138)

Interest expense, net					(976)
Other expense, net (7)					(140)
Income before income taxes and loss from investments in unconsolidated affiliates					$	3,898

(1)Primarily includes postage reimbursements.

(2)Includes compensation and benefit costs of Company employees, as well as expenses paid to third parties for consulting and temporary help, net of capitalized software costs.

(3)Includes cost of goods sold, payments to distribution partners and other reselling costs.

membership interest during the year ended December 31, 2025 (see Note 13).

Other significant items include:


	Year Ended December 31,
(In millions)	2025		2024		2023
Depreciation and amortization:
Merchant (1)	$	501	$	429	$	366
Financial (1)	679		628		560
Corporate and Other (2)	2,027		2,081		2,236
Total Company	$	3,207	$	3,138	$	3,162

Capital expenditures, including capitalized software and other intangibles:
Merchant	$	570	$	552	$	498
Financial	682		614		525
Corporate and Other	511		403		365
Total Company	$	1,763	$	1,569	$	1,388

(2)Primarily includes amortization of acquisition-related intangible assets, such as customer relationships, software/technology and trade names.

The Company does not evaluate the performance of or allocate resources to its reportable segments using asset data. Long-lived assets, excluding goodwill and other intangibles, within the Company’s international regions comprised approximately 21% and 19% of total consolidated long-lived assets, excluding goodwill and other intangible assets, at December 31, 2025 and 2024, respectively.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ 3,490	$ 3,180	$ 3,129
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and other amortization	1,857	1,672	1,479
Amortization of acquisition-related intangible assets	1,304	1,423	1,642
Amortization of financing costs and debt discounts	46	43	41
Share-based compensation	357	367	342
Deferred income taxes	(942)	(662)	(511)
Net gain on sale of business and distribution of other assets	(120)	0	(167)
Gain on sale of investments	(74)	0	0
(Income) loss from investments in unconsolidated affiliates	(37)	685	15
Distributions from unconsolidated affiliates	44	39	55
Non-cash settlement charge for terminated pension plans	0	147	0
Non-cash foreign currency exchange losses	159	92	76
Other operating activities	(13)	(17)	(27)
Changes in assets and liabilities, net of effects from acquisitions and dispositions:
Trade accounts receivable	(123)	(169)	23
Prepaid expenses and other assets	(528)	(398)	(790)
Contract costs	(252)	(267)	(246)
Accounts payable and other liabilities	878	426	(54)
Contract liabilities	16	70	155
Net cash provided by operating activities	6,062	6,631	5,162
Cash flows from investing activities:
Capital expenditures, including capitalized software and other intangibles	(1,763)	(1,569)	(1,388)
Net proceeds from sale of business and other assets	0	0	234
Merchant cash advances, including Clover Capital program	(1,129)	0	0
Repayment of merchant cash advances, including Clover Capital program	1,018	0	0
Settlement anticipation cash advances, net	(525)	(801)	0
Payments for acquisition of businesses, net of cash acquired	(820)	0	(13)
Distributions from unconsolidated affiliates	42	60	136
Purchases of investments	(81)	(155)	(39)
Proceeds from sale of investments	756	61	5
Other investing activities	(18)	0	(3)
Net cash used in investing activities	(2,520)	(2,404)	(1,068)
Cash flows from financing activities:
Debt proceeds	6,504	6,783	5,567
Debt repayments	(3,955)	(5,396)	(3,015)
Net (repayments of) borrowings from commercial paper and short-term borrowings	(370)	278	(1,456)
Payments of debt financing costs	(20)	(28)	(38)
Proceeds from issuance of treasury stock	62	97	101
Purchases of treasury stock, including employee shares withheld for tax obligations	(5,899)	(5,837)	(4,827)
Settlement activity, net	222	0	(527)
Distributions paid to noncontrolling interests and redeemable noncontrolling interest	(10)	(55)	(34)
Payments to acquire noncontrolling interests of consolidated subsidiaries	(436)	0	(56)
Payments of acquisition-related contingent consideration	0	(3)	(35)
Settlement of derivative contracts	65	0	0
Other financing activities	5	(4)	(36)
Net cash used in financing activities	(3,832)	(4,165)	(4,356)
Effect of exchange rate changes on cash and cash equivalents	99	(32)	33
Net change in cash and cash equivalents	(191)	30	(229)
Cash and cash equivalents, beginning balance	2,993	2,963	3,192
Cash and cash equivalents, ending balance	$ 2,802	$ 2,993	$ 2,963

Derivatives and Hedging Instruments - Schedule of Notional Amounts of Rate Swap Contracts (Details) € in Millions, $ in Millions, $ in Millions	Dec. 31, 2025 EUR (€)	Dec. 31, 2025 SGD ($)	Dec. 31, 2025 CAD ($)	Dec. 31, 2024 EUR (€)	Dec. 31, 2024 SGD ($)	Dec. 31, 2024 CAD ($)
Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	€ 940	$ 828	$ 405	€ 600	$ 841	$ 259

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Share-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 357	$ 367	$ 342
Unrecognized compensation cost	$ 324
Weighted-average period unrecognized compensation cost will be recognized	1 year 9 months 18 days
Share-based awards, stock options, exercised (in shares)	827
Weighted-average estimated fair value per share of stock options granted (in dollars per share)	$ 0	$ 0
Share-based awards available for grant (in shares)	15,400
Time-Based Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Performance Share Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	2 years
Award requisite performance period (in years)	2 years
Performance Share Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	5 years
Award requisite performance period (in years)	5 years
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period that awards will expire (in years)	10 years
Share-based awards, stock options, exercised (in shares)	827	2,300	2,400
Stock options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Stock options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense recognized related to discount on purchase date (as a percent)	5.00%
Share-based awards available for grant (in shares)	22,300
Shares issued under equity plan (in shares)	338	255	346
Restricted Stock Units and Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	18 months

Fair Value Measurements

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

The fair values of cash equivalents, trade accounts receivable, other current assets, settlement assets and obligations, accounts payable, and client deposits approximate their respective carrying values due to the short period of time to maturity. Derivative instruments maintained by the Company (see Note 9) are measured on a recurring basis based on foreign currency spot rates and forwards quoted by banks and foreign currency dealers and are marked to market each period. Contingent consideration related to certain of the Company’s acquisitions (see Note 4) is estimated using a probability-weighted assessment approach based on the likelihood of achieving the earn-out criteria. The Company’s obligation to satisfy the purchase of a redeemable noncontrolling interest associated with a terminated merchant alliance joint venture was measured at the estimated fair value of the minority interest. Such obligation was settled during the year ended December 31, 2025 through the distribution of certain merchant contracts to the minority partner (see Note 13). The fair value of the Company’s contingent liability for current expected credit losses associated with its debt guarantees, as further described below, is estimated based on assumptions of future risk of default and the corresponding level of credit losses at the time of default.

Assets and liabilities measured at fair value on a recurring basis consisted of the following:


			Fair Value at December 31,
(In millions)	Classification	Fair Value Hierarchy	2025		2024
Assets

Cross-currency rate swap contract designated as net investment hedge	Prepaid expenses and other current assets	Level 2	$	—	$	2

Cross-currency rate swap contracts designated as net investment hedges	Other long-term assets	Level 2	—		6


Liabilities

Cross-currency rate swap contract designated as fair value hedge	Accounts payable and other current liabilities	Level 2	$	—	$	12
Cross-currency rate swap contracts designated as net investment hedges	Accounts payable and other current liabilities	Level 2	29		9
Forward exchange contracts designated as cash flow hedges	Accounts payable and other current liabilities	Level 2	10		6
Forward exchange contracts designated as cash flow hedges	Other long-term liabilities	Level 2	1		2



Cross-currency rate swap contracts designated as net investment hedges	Other long-term liabilities	Level 2	81		17
Contingent consideration	Accounts payable and other current liabilities	Level 3	6		—
Contingent consideration	Other long-term liabilities	Level 3	29		—
Obligation to purchase redeemable noncontrolling interest	Accounts payable and other current liabilities	Level 3	—		95

Contingent debt guarantee	Other long-term liabilities	Level 3	6		15

Debt

The Company’s senior notes are recorded at amortized cost but measured at fair value for disclosure purposes. The estimated fair value of senior notes was based on matrix pricing which considers readily observable inputs of comparable securities (Level 2 of the fair value hierarchy). The carrying value of the Company’s foreign lines of credit, commercial paper notes and revolving credit facility borrowings approximates fair value as these instruments have variable interest rates and the Company has not experienced any change to its credit ratings (Level 2 of the fair value hierarchy). The estimated fair value of total debt, excluding finance leases and other financing obligations, was $26.4 billion and $23.2 billion at December 31, 2025 and 2024, respectively, and the carrying value was $26.9 billion and $23.9 billion at December 31, 2025 and 2024, respectively.

Debt Guarantee Arrangements

The Company maintains liabilities for its obligations to perform over the term of its debt guarantee arrangements with the Lending Joint Ventures (see Note 8), which are reported within other long-term liabilities in the consolidated balance sheets. The Company has provided aggregate guarantees of $482 million associated with the debt of the Lending Joint Ventures and is entitled to receive a defined fee in exchange for its guarantee of this indebtedness. The Company has not made any payments under the guarantees, nor has it been called upon to do so, and does not anticipate that the Lending Joint Ventures will fail to fulfill their debt obligations.

The non-contingent component of the Company’s debt guarantee arrangements is recorded at amortized cost, but measured at fair value for disclosure purposes. The carrying value of the Company’s non-contingent liability of $12 million and $21 million approximates the fair value at December 31, 2025 and 2024, respectively (Level 3 of the fair value hierarchy). Such guarantees will be amortized in future periods over the contractual term of the debt. The contingent component of the Company’s debt guarantee arrangements represents the current expected credit losses to which the Company is exposed. The amount of the liability, as reflected within the table above, is estimated based on certain financial metrics of the Lending Joint Ventures and historical industry data, which is used to develop assumptions of the likelihood the guaranteed parties will default and the level

of credit losses in the event a default occurs. The Company recognized $18 million during each of the years ended December 31, 2025 and 2024, and $7 million during the year ended December 31, 2023 within other expense, net in its consolidated statements of income related to its release from risk under the non-contingent guarantees as well as a change in the provision of estimated credit losses associated with the indebtedness of the Lending Joint Ventures.

Other Non-Financial Assets

Certain of the Company’s non-financial assets are measured at fair value on a non-recurring basis, including property and equipment, lease ROU assets, equity securities without a readily determinable fair value, goodwill and other intangible assets, and are subject to fair value adjustment in certain circumstances. Additional information about fair value adjustments recorded on a non-recurring basis during the years ended December 31, 2025, 2024 and 2023 is included in Note 8 to the consolidated financial statements.

Business Segment Information - Narrative (Details) - segment	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Segment Reporting Information [Line Items]
Number of reportable segments	2
Non-US \| Long-Lived Assets \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Percentage of concentration risk	21.00%	19.00%

For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.

Goodwill and Intangible Assets Disclosure [Abstract]

Share-Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2025 USD ($) $ / shares shares
Shares
Stock options outstanding - balance at beginning of period (in shares) \| shares	1,586
Exercised (in shares) \| shares	(827)
Stock options outstanding - balance at end of period (in shares) \| shares	759
Stock options exercisable (in shares) \| shares	759
Weighted- Average Exercise Price
Stock options outstanding - balance at beginning of period (in dollars per share) \| $ / shares	$ 89.65
Exercised (in dollars per share) \| $ / shares	88.56
Stock options outstanding - balance at end of period (in dollars per share) \| $ / shares	90.84
Stock options exercisable (in dollars per share) \| $ / shares	$ 90.84
Weighted- Average Remaining Contractual Term (Years)
Stock options outstanding (in years)	3 years 3 months 18 days
Stock options exercisable (in years)	3 years 3 months 18 days
Aggregate Intrinsic Value (In millions)
Stock options outstanding \| $	$ 5
Stock options exercisable \| $	$ 5

Income Taxes - Pretax Income and Income Tax Provision (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Current:
Federal	$ 1,288	$ 831	$ 913
State	221	242	148
Foreign	244	230	204
Total current	1,753	1,303	1,265
Deferred:
Federal	(759)	(407)	(380)
State	(70)	(112)	(12)
Foreign	(113)	(143)	(119)
Total deferred	(942)	(662)	(511)
Income tax provision	$ 811	$ 641	$ 754

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of intangible assets by class

Identifiable intangible assets consisted of the following:


	Gross Carrying Amount		Accumulated Amortization		Net Book Value
(In millions)
December 31, 2025
Customer relationships	$	14,773	$	9,680	$	5,093
Acquired software and technology	2,150		1,356		794
Trade names	633		458		175
Purchased software	1,397		441		956
Capitalized software and other intangibles	5,040		1,897		3,143
Total	$	23,993	$	13,832	$	10,161

December 31, 2024
Customer relationships	$	14,488	$	8,620	$	5,868
Acquired software and technology	1,935		1,159		776
Trade names	635		410		225
Purchased software	1,019		517		502
Capitalized software and other intangibles	3,974		1,405		2,569
Total	$	22,051	$	12,111	$	9,940

Schedule of estimated annual amortization expense of intangible assets

The Company estimates that annual amortization expense with respect to intangible assets recorded at December 31, 2025 will be as follows:


(In millions)
Year Ending December 31,
2026	$	2,359
2027	2,086
2028	1,696
2029	1,276
2030	869
Thereafter	1,875
Total	$	10,161

Summary of Significant Accounting Policies - Allowance for Merchant Credit Losses (Details) - Merchant credit losses - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Loss Contingencies [Line Items]
Collateral held	$ 588	$ 598
Aggregate merchant credit losses incurred	128	108	$ 80
Loss contingency accrual	$ 46	$ 40

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Changes in accumulated other comprehensive loss by component, net of income taxes

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	At the core of our business, we host, collect, process, use and retain significant amounts of financial, personal and other sensitive data across our own technology environment and the third-party information systems of our vendors, service providers and partners. In order to keep this data secure, we maintain an enterprise risk management (“ERM”) program designed to systematically identify and manage risk including risk from cybersecurity threats. The risk committee of the board of directors oversees our ERM program and it is reviewed annually by both the risk and audit committees of the board of directors. The risk committee also monitors and reports to the board regarding issues arising with respect to the risk governance structure and performance of the risk management function. The board, as a whole and through its committees, regularly engages with the Chief Risk Officer, management and outside advisors to identify, assess and manage risks of the company and to ensure the risk management function has the appropriate resources and authority to fulfill its responsibilities. An executive risk committee, comprised of senior leaders of our lines of business and corporate functions, provides executive level accountability for the ERM program. On an ongoing basis, we identify, categorize, assess, monitor and respond to business risks. We consider the various ways in which risks may affect our business by measuring the impact of those risks against a consistent set of criteria, which include the potential impact to our operations, financial performance, clients, technology, reputation, business strategy and regulatory environment. The risk committee of the board of directors reviews and approves a list of top enterprise risks and the risk appetite relating to such risks. Among the top risks included in our ERM program is cybersecurity risk. Response plans are developed, tracked and implemented for residual risks that are above the acceptable tolerance level.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	At the core of our business, we host, collect, process, use and retain significant amounts of financial, personal and other sensitive data across our own technology environment and the third-party information systems of our vendors, service providers and partners. In order to keep this data secure, we maintain an enterprise risk management (“ERM”) program designed to systematically identify and manage risk including risk from cybersecurity threats. The risk committee of the board of directors oversees our ERM program and it is reviewed annually by both the risk and audit committees of the board of directors. The risk committee also monitors and reports to the board regarding issues arising with respect to the risk governance structure and performance of the risk management function. The board, as a whole and through its committees, regularly engages with the Chief Risk Officer, management and outside advisors to identify, assess and manage risks of the company and to ensure the risk management function has the appropriate resources and authority to fulfill its responsibilities. An executive risk committee, comprised of senior leaders of our lines of business and corporate functions, provides executive level accountability for the ERM program. On an ongoing basis, we identify, categorize, assess, monitor and respond to business risks. We consider the various ways in which risks may affect our business by measuring the impact of those risks against a consistent set of criteria, which include the potential impact to our operations, financial performance, clients, technology, reputation, business strategy and regulatory environment. The risk committee of the board of directors reviews and approves a list of top enterprise risks and the risk appetite relating to such risks. Among the top risks included in our ERM program is cybersecurity risk. Response plans are developed, tracked and implemented for residual risks that are above the acceptable tolerance level.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The board of directors maintains primary oversight of the company’s strategic, operational and financial risks, including cybersecurity risks. The risk committee of the board of directors assists the board in its oversight of such risks and is primarily responsible for oversight of cybersecurity risks. The risk committee regularly reviews and discusses with management the current cybersecurity threat landscape, emerging trends and developments, and the company’s guidelines, policies and processes for monitoring, managing, and mitigating cybersecurity risks. The board and the risk committee receive regular presentations and reports from management as well as outside experts on cybersecurity risks, which address a wide range of topics including recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technology trends and information security considerations arising with respect to our peers and third parties. On an annual basis, the board and the risk committee discuss our approach to cybersecurity risk management with our Chief Risk Officer, Chief Compliance Officer and Chief Information Security Officer, among others. At each regular board meeting, the risk committee reviews and reports to the board on key cybersecurity risks. The board and the risk committee receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds, as well as ongoing updates regarding any such incident until it has been addressed.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The board of directors maintains primary oversight of the company’s strategic, operational and financial risks, including cybersecurity risks. The risk committee of the board of directors assists the board in its oversight of such risks and is primarily responsible for oversight of cybersecurity risks. The risk committee regularly reviews and discusses with management the current cybersecurity threat landscape, emerging trends and developments, and the company’s guidelines, policies and processes for monitoring, managing, and mitigating cybersecurity risks. The board and the risk committee receive regular presentations and reports from management as well as outside experts on cybersecurity risks, which address a wide range of topics including recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technology trends and information security considerations arising with respect to our peers and third parties. On an annual basis, the board and the risk committee discuss our approach to cybersecurity risk management with our Chief Risk Officer, Chief Compliance Officer and Chief Information Security Officer, among others. At each regular board meeting, the risk committee reviews and reports to the board on key cybersecurity risks. The board and the risk committee receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds, as well as ongoing updates regarding any such incident until it has been addressed.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The board and the risk committee receive regular presentations and reports from management as well as outside experts on cybersecurity risks, which address a wide range of topics including recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technology trends and information security considerations arising with respect to our peers and third parties. On an annual basis, the board and the risk committee discuss our approach to cybersecurity risk management with our Chief Risk Officer, Chief Compliance Officer and Chief Information Security Officer, among others. At each regular board meeting, the risk committee reviews and reports to the board on key cybersecurity risks. The board and the risk committee receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds, as well as ongoing updates regarding any such incident until it has been addressed.
Cybersecurity Risk Role of Management [Text Block]	Our global cybersecurity services team is responsible for assessing our technology environment, identifying emerging cybersecurity threats and evolving cybersecurity threat capabilities, and implementing business processes and technical defenses to safeguard our technology environment and services. Our management has established a cybersecurity and technology risk committee focused on managing cybersecurity and technology risk and implementing cybersecurity and technology plans, strategies and objectives. The committee is chaired by the Deputy Chief Information Security Officer, who reports to our Co-President through our Chief Information Security Officer (“CISO”), and is comprised of senior business, cybersecurity, and technology leaders responsible for delivering our products and services. Our cybersecurity program is designed to enable us to detect and respond to cybersecurity incidents, continually improve the effectiveness of our cybersecurity controls, and dynamically respond to the evolving threat landscape. We operate a cybersecurity operations center that continuously monitors our environment for cyber events, suspicious activity or unusual behaviors, and responds to minimize operational impact. We use layered security technologies, controls and modern analytics to detect, prevent and respond to threats. Our global cybersecurity services team gathers intelligence from public and private sources about threats, adversary campaigns and vulnerabilities. The global cybersecurity services team combines this external intelligence with our internal intelligence and analytics to assess risk and develop strategies that reduce exposure and improve response. We maintain a global cybersecurity policy and supporting standards which incorporate recognized industry standards and best practices from the National Institute of Standards and Technology as well as various industry security requirements. Our employees play a vital role in protecting our and our clients’ data. We provide annual, mandatory training for all of our employees regarding cybersecurity threats to enable our employees to address cybersecurity threats and to communicate our evolving information security policies, standards, processes and practices. We also maintain a third-party risk management program to identify, assess, mitigate and monitor risks associated with third parties’ software and services that we utilize. Our CISO has served in various senior roles in information technology and information security, in both the public and private sector, for over three decades. Similarly, the other members of our global cybersecurity services team have a broad range of cybersecurity training and experience in both the public, including military and law enforcement, and private sectors and maintain various certifications in relevant subjects.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our global cybersecurity services team is responsible for assessing our technology environment, identifying emerging cybersecurity threats and evolving cybersecurity threat capabilities, and implementing business processes and technical defenses to safeguard our technology environment and services. Our management has established a cybersecurity and technology risk committee focused on managing cybersecurity and technology risk and implementing cybersecurity and technology plans, strategies and objectives. The committee is chaired by the Deputy Chief Information Security Officer, who reports to our Co-President through our Chief Information Security Officer (“CISO”), and is comprised of senior business, cybersecurity, and technology leaders responsible for delivering our products and services.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CISO has served in various senior roles in information technology and information security, in both the public and private sector, for over three decades. Similarly, the other members of our global cybersecurity services team have a broad range of cybersecurity training and experience in both the public, including military and law enforcement, and private sectors and maintain various certifications in relevant subjects.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our global cybersecurity services team is responsible for assessing our technology environment, identifying emerging cybersecurity threats and evolving cybersecurity threat capabilities, and implementing business processes and technical defenses to safeguard our technology environment and services. Our management has established a cybersecurity and technology risk committee focused on managing cybersecurity and technology risk and implementing cybersecurity and technology plans, strategies and objectives. The committee is chaired by the Deputy Chief Information Security Officer, who reports to our Co-President through our Chief Information Security Officer (“CISO”), and is comprised of senior business, cybersecurity, and technology leaders responsible for delivering our products and services. Our cybersecurity program is designed to enable us to detect and respond to cybersecurity incidents, continually improve the effectiveness of our cybersecurity controls, and dynamically respond to the evolving threat landscape. We operate a cybersecurity operations center that continuously monitors our environment for cyber events, suspicious activity or unusual behaviors, and responds to minimize operational impact. We use layered security technologies, controls and modern analytics to detect, prevent and respond to threats. Our global cybersecurity services team gathers intelligence from public and private sources about threats, adversary campaigns and vulnerabilities. The global cybersecurity services team combines this external intelligence with our internal intelligence and analytics to assess risk and develop strategies that reduce exposure and improve response.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Income Taxes - Deferred Tax Assets and Liabilities on Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Noncurrent assets	$ 109	$ 76
Noncurrent liabilities	(1,478)	(2,477)
Total	$ (1,369)	$ (2,401)

Acquisitions, Dispositions and Other Transactions	12 Months Ended
Acquisitions, Dispositions and Other Transactions	Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]
Acquisitions, Dispositions and Other Transactions	Acquisitions, Dispositions and Other Transactions Acquisitions were accounted for as business combinations using the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. Purchase price was allocated to the respective identifiable assets acquired and liabilities assumed based on the estimated fair values at the date of acquisitions. The results of operations for the following acquired and divested businesses are included in the consolidated results of the Company from the respective dates of acquisition and through the respective dates of disposition. Pro forma information for these acquired businesses is not provided because they did not have a material effect, individually or in the aggregate, on the Company’s consolidated results of operations. Acquisitions of Businesses Acquisition of StoneCastle On December 17, 2025, the Company acquired StoneCastle Cash Management, LLC, INDX Processing, LLC and StoneCastle Trust Co. (collectively, “StoneCastle”), a provider of deposit funding solutions, for $415 million, net of $4 million of acquired cash. StoneCastle is included within the Financial segment and provides its network of depository institutions easy access to stable, cost efficient deposit funding. The preliminary allocation of purchase price resulted in the recognition of identifiable intangible assets of approximately $165 million, primarily acquired software and technology with an estimated useful life of 7 years, approximately $247 million of goodwill and $7 million of other net assets, including acquired cash. The allocation of the purchase price is preliminary and is subject to further adjustment, pending additional refinement and final completion of valuations. Goodwill, which is expected to be deductible for tax purposes, is primarily attributed to the anticipated value created by enabling the Company to offer technology-enabled deposit funding solutions to both its financial institution customers and merchant acquiring enterprise clients. Acquisition of CCV On March 18, 2025, the Company acquired CCV Group B.V. (“CCV”), a Netherlands-based supplier of POS payment solutions, for $219 million, net of $34 million of acquired cash. CCV is included within the Merchant segment and expands the Company’s network of payment solutions. The preliminary allocation of purchase price resulted in the recognition of identifiable intangible assets, including customer relationships of approximately $118 million with an estimated useful life of 8 years, acquired software and technology of approximately $2 million with an estimated useful life of 1 year and an acquired trademark of approximately $4 million with an estimated useful life of 2 years; approximately $106 million of goodwill; and $23 million of other net assets, including acquired cash. The allocation of the purchase price is preliminary and is subject to further adjustment, pending additional refinement and final completion of valuations. Goodwill, which is not deductible for tax purposes, is primarily attributed to the anticipated value created by enabling the Company’s ability to accelerate the deployment of its Clover® POS and business management platform, providing enhanced capabilities and innovation to an expansive combined merchant and partner base across Europe. Acquisition of Payfare On March 2, 2025, the Company acquired Payfare, Inc. (“Payfare”), a Canada-based provider of program management solutions powering instant access to earnings and banking solutions for workforces, for a purchase price of $95 million, net of $46 million of acquired cash. Payfare is included within the Financial segment and expands the Company’s embedded finance capabilities. The allocation of purchase price resulted in the recognition of identifiable intangible assets, including acquired software and technology of $22 million with a useful life of 7 years and customer relationships of $14 million with a useful life of 14 years; $56 million of goodwill; and $49 million of other net assets, including acquired cash. The allocation of the purchase price was finalized in the fourth quarter of 2025. Goodwill, which is not deductible for tax purposes, is primarily attributed to the anticipated value created by further enhancing the Company’s finance solutions in embedded banking, payments and lending for large enterprises and financial institutions. Other Acquisitions On October 1, 2025, the Company acquired a portion of The Toronto-Dominion Bank’s merchant processing business in Canada (“TD Merchant Canada”). TD Merchant Canada is included within the Merchant segment and expands the footprint of the Company’s Clover® platform. On September 25, 2025, the Company acquired the Smith Consulting Group, LLC business (“SCG”), an operational consulting service utilized by community banks and credit unions across the U.S. SCG is included within the Financial segment and supports the Company’s ability to provide consultative engagement to enhance community banks’ and credit unions’ strategic investments. On September 4, 2025, the Company acquired CardFree Inc. (“CardFree”), an all-in-one platform delivering integrated order, payment and loyalty solutions for merchants. CardFree is included within the Merchant segment and further expands the capabilities of the Company’s Clover platform across the hospitality, restaurant and lodging industries. On June 4, 2025, the Company acquired Money Money Serviços Financeiros S.A. (“Money Money”), a Brazil-based provider of risk analysis and credit decisioning solutions. Money Money is included within the Merchant segment and expands the Company’s payment and financial service capabilities, enabling access to working capital and other payment solutions for small and medium-sized businesses. On April 4, 2025, the Company acquired Pinch Payments NZ Limited (together with Zootive Pty Ltd, “Pinch Payments”), an Australia-based payment facilitator. Pinch Payments is included within the Merchant segment and expands the Company’s flexible payment services for its partners and clients, and presence within the Asia-Pacific region. The Company acquired these businesses for an aggregate purchase price, including deferred payments, of $127 million, including earn-out provisions estimated at a fair value of $35 million (see Note 10). The allocation of purchase price for these acquisitions resulted in the recognition of identifiable intangible assets, including software and technology of approximately $31 million with a weighted average useful life of 7 years and customer relationships of approximately $18 million with an estimated useful life of 10 years; approximately $73 million of goodwill; and $5 million of other net assets. The purchase price allocations for Money Money and Pinch Payments were finalized in the third quarter of 2025 and for SCG was finalized in the fourth quarter of 2025. The purchase price allocations for TD Merchant Canada and CardFree are preliminary and are subject to further adjustment, pending additional refinement and final completion of valuations. Goodwill for these acquisitions is primarily attributed to the anticipated value created by expanding the reach of the Company’s Clover POS and business management platform and further enabling the Company’s payment solutions, financial service capabilities and advisory services for financial institutions. For tax purposes, goodwill related to the SCG and TD Merchant Canada acquisitions is deductible; however, goodwill related to the Money Money, Pinch Payments and CardFree acquisitions is not deductible. On October 9, 2023, the Company acquired Skytef Solucões em Captura de Transações Ltda (“Skytef”), a distributor for independent software vendor partners and merchants of the Company’s Electronic Funds Transfer payments software. Skytef is included within the Merchant segment and expands the Company’s distribution network and POS applications. On November 1, 2023, the Company acquired Sled S.A. (“Sled”), a provider of instant payment solutions. Sled is included within the Merchant segment and expands the Company’s direct payment service capabilities. The Company acquired these businesses in Latin America for an aggregate purchase price, including hold-backs, of $17 million. The purchase price allocations for the Skytef and Sled acquisitions were finalized in the first quarter of 2024, and measurement period adjustments did not have a material impact on the Company’s consolidated statement of income. Disposition of Business Disposition of Financial Reconciliation Business On July 25, 2023, the Company sold its financial reconciliation business, which was reported within the Financial segment, for cash proceeds of $235 million. The Company recognized a pre-tax gain of $172 million on the sale, recorded within net gain on sale of business and distribution of other assets, with a related tax expense of $48 million recorded within the income tax provision, in the consolidated statement of income for the year ended December 31, 2023. The pre-tax gain was comprised of the difference between the consideration received and the net carrying amount of the business, including $38 million of allocated goodwill; $15 million of other net assets, primarily consisting of trade accounts receivable and capitalized software; and $10 million of accumulated foreign currency translation losses which were reclassified from accumulated other comprehensive loss. Other Transactions On September 5, 2025, the Company acquired the remaining 49.9% ownership interest, including cash held of $195 million, in AIBMS, an Ireland-based payments solution provider, for $420 million. On April 17, 2025, the Company acquired the remaining 19% ownership interest in ICICI Merchant Services Private Limited, an India-based merchant acceptance business, for $22 million. The Company previously held a majority controlling financial interest in each of these subsidiaries, which continue to be consolidated and reported within the Merchant segment.

Summary of Significant Accounting Policies - Interest Expense, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Interest expense	$ (1,531)	$ (1,238)	$ (1,004)
Interest income	38	43	28
Interest expense, net	$ (1,493)	$ (1,195)	$ (976)

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Changes in accumulated other comprehensive loss by component, net of income taxes, consisted of the following:


(In millions)	Derivatives		Foreign Currency Translation		Pension Plans		Total
Year Ended December 31, 2025
Balance at December 31, 2024	$	(79)	$	(1,327)	$	(7)	$	(1,413)
Other comprehensive income (loss) before reclassifications	(7)		419		2		414
Amounts reclassified from accumulated other comprehensive loss	15		—		—		15
Net current-period other comprehensive income	8		419		2		429
Balance at December 31, 2025	$	(71)	$	(908)	$	(5)	$	(984)

Year Ended December 31, 2024
Balance at December 31, 2023	$	(78)	$	(688)	$	(17)	$	(783)
Other comprehensive loss before reclassifications	(10)		(639)		(88)		(737)
Amounts reclassified from accumulated other comprehensive loss	9		—		98		107
Net current-period other comprehensive (loss) income	(1)		(639)		10		(630)


Balance at December 31, 2024	$	(79)	$	(1,327)	$	(7)	$	(1,413)

Intangible Assets - Schedule of Estimated Annual Amortization Expense of Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2026	$ 2,359
2027	2,086
2028	1,696
2029	1,276
2030	869
Thereafter	1,875
Net Book Value	$ 10,161	$ 9,940

Related Party Transactions (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		12 Months Ended
	Aug. 07, 2023	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Feb. 22, 2023
Related Party Transaction [Line Items]
Total revenue		$ 21,193.0	$ 20,456.0	$ 19,093.0
Trade accounts receivable, less allowance for doubtful accounts		3,981.0	3,725.0
Treasury stock, common, value		23,547.0	18,182.0
Affiliated Entity
Related Party Transaction [Line Items]
Total revenue		90.0	140.0	$ 177.0
Trade accounts receivable, less allowance for doubtful accounts		$ 7.0	$ 21.0
Director \| ValueAct Capital Master Fund, L.P.
Related Party Transaction [Line Items]
Purchases of treasury stock (in shares)	4.1
Shares acquired, average cost per share (in dollars per share)	$ 121.98
Treasury stock, common, value	$ 500.0
Stock repurchase program, authorized amount (in shares)					$ 75.0

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Total revenue	$ 21,193	$ 20,456	$ 19,093
Related Party Fees \| Equity investments
Total revenue	$ 96	$ 137	$ 178

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
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-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Schedule of redeemable noncontrolling interests activity

Debt - Narrative (Details) € in Millions, $ in Millions	12 Months Ended
Debt - Narrative (Details) € in Millions, $ in Millions	Dec. 31, 2025 USD ($)	Aug. 11, 2025 USD ($)	May 07, 2025 EUR (€)	Dec. 31, 2024 USD ($)	Aug. 12, 2024 USD ($)	Jul. 31, 2024	Mar. 04, 2024 USD ($)
Foreign lines of credit
Debt Instrument [Line Items]
Weighted-Average Interest Rate	27.727%			31.695%
Revolving credit facility
Debt Instrument [Line Items]
Debt issuance costs	$ 13			$ 5
Senior Notes
Debt Instrument [Line Items]
Outstanding debt	$ 24,900
Interest rate subject to increase, maximum (as a percent)	2.00%
Debt instrument, face amount		$ 2,000			$ 1,750		$ 2,000
Senior Notes \| Fiserv Funding Unlimited Company
Debt Instrument [Line Items]
Debt instrument, face amount \| €			€ 2,175
Senior Notes \| 4.550% Senior Notes Due February 2031
Debt Instrument [Line Items]
Debt instrument, face amount		$ 1,000
Interest rate, stated percentage		4.55%
Senior Notes \| 5.250% senior notes due August 2035
Debt Instrument [Line Items]
Debt instrument, face amount		$ 1,000
Interest rate, stated percentage	5.25%	5.25%
Borrowings with receivables used as collateral	$ 1,000			0
Senior Notes \| 2.875% senior notes due June 2028 (Euro-denominated)
Debt Instrument [Line Items]
Interest rate, stated percentage	2.875%
Borrowings with receivables used as collateral	$ 883			0
Senior Notes \| 2.875% senior notes due June 2028 (Euro-denominated) \| Fiserv Funding Unlimited Company
Debt Instrument [Line Items]
Debt instrument, face amount \| €			€ 750
Interest rate, stated percentage			2.875%
Senior Notes \| 3.5% Senior Notes Due June 2032 \| Fiserv Funding Unlimited Company
Debt Instrument [Line Items]
Debt instrument, face amount \| €			€ 775
Interest rate, stated percentage			3.50%
Senior Notes \| 4.0% Senior Notes Due June 2036 \| Fiserv Funding Unlimited Company
Debt Instrument [Line Items]
Debt instrument, face amount \| €			€ 650
Interest rate, stated percentage			4.00%
Senior Notes \| 3.850% senior notes due June 2025
Debt Instrument [Line Items]
Interest rate, stated percentage	3.85%
Borrowings with receivables used as collateral	$ 0			900
Senior Notes \| 2.250% senior notes due July 2025 (British Pound-denominated)
Debt Instrument [Line Items]
Interest rate, stated percentage	2.25%
Borrowings with receivables used as collateral	$ 0			661
Senior Notes \| 4.750% senior notes due March 2030
Debt Instrument [Line Items]
Debt instrument, face amount					$ 850
Interest rate, stated percentage	4.75%				4.75%
Borrowings with receivables used as collateral	$ 850			850
Senior Notes \| 5.150% senior notes due August 2034
Debt Instrument [Line Items]
Debt instrument, face amount					$ 900
Interest rate, stated percentage	5.15%				5.15%
Borrowings with receivables used as collateral	$ 900			900
Senior Notes \| 5.150% Senior Notes Due March 2027
Debt Instrument [Line Items]
Debt instrument, face amount							$ 750
Interest rate, stated percentage							5.15%
Senior Notes \| 5.350% Senior Notes Due March 2031
Debt Instrument [Line Items]
Debt instrument, face amount							$ 500
Interest rate, stated percentage							5.35%
Senior Notes \| 5.450% Senior Notes Due March 2034
Debt Instrument [Line Items]
Debt instrument, face amount							$ 750
Interest rate, stated percentage							5.45%
Senior Notes \| 2.750% senior notes due July 2024
Debt Instrument [Line Items]
Interest rate, stated percentage						2.75%
Commercial Paper \| U.S. dollar commercial paper notes
Debt Instrument [Line Items]
Debt maturities (in days)	397 days
Borrowings with receivables used as collateral	$ 326			$ 221
Weighted-Average Interest Rate	3.851%			4.534%
Commercial Paper \| Euro commercial paper notes
Debt Instrument [Line Items]
Debt maturities (in days)	183 days
Borrowings with receivables used as collateral	$ 839			$ 1,239
Weighted-Average Interest Rate	2.21%			3.115%
Line of Credit \| Revolving credit facility
Debt Instrument [Line Items]
Borrowings with receivables used as collateral	$ 188			$ 115
Weighted-Average Interest Rate	4.685%			5.44%
Maximum borrowing capacity	$ 8,000
Debt instrument, covenant, debt-to-EBITDA ratio	3.75
Amount outstanding	$ 188			$ 115
Term loan and senior notes
Debt Instrument [Line Items]
Debt issuance costs	$ 114			$ 103

Leases - Balance Sheet Classification of Lease Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Assets
Operating lease assets	$ 589	$ 595
Finance lease assets	1,118	611
Total lease assets	1,707	1,206
Current:
Operating lease liabilities	126	116
Finance lease liabilities	284	209
Noncurrent:
Operating lease liabilities	637	654
Finance lease liabilities	841	417
Total lease liabilities	$ 1,888	$ 1,396
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other long-term assets	Other long-term assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable and other current liabilities	Accounts payable and other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property and equipment, net	Property and equipment, net
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Short-term and current maturities of long-term debt	Short-term and current maturities of long-term debt
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt	Long-term debt

Summary of Significant Accounting Policies - Net Income Per Share (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Weighted-average shares excluded from calculations of common stock equivalents for anti-dilutive stock options (in shares)	1.0	0.0	0.0
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Weighted-average common shares outstanding used for the calculation of net income attributable to Fiserv, Inc. per share - basic (in shares)	547.1	578.7	611.7
Common stock equivalents (in shares)	1.9	3.4	4.2
Weighted average common shares outstanding used for the calculation of net income attributable to Fiserv, Inc. per share - diluted (in shares)	549.0	582.1	615.9

Fair Value Measurements - Assets and Liabilities Measured at Fair Value On a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Liabilities
Obligation to purchase redeemable noncontrolling interest	$ 0	$ 95
Fair Value, Recurring \| Level 2 \| Cash Flow Hedging \| Forward exchange contracts designated as cash flow hedges
Liabilities
Derivative liability, current	10	6
Derivative liability, noncurrent	1	2
Fair Value, Recurring \| Level 2 \| Net Investment Hedging \| Cross-currency rate swap contracts
Assets
Derivative asset, current	0	2
Derivative asset, noncurrent	0	6
Liabilities
Derivative liability, current	29	9
Derivative liability, noncurrent	81	17
Fair Value, Recurring \| Level 2 \| Fair Value Hedging \| Cross-currency rate swap contracts
Liabilities
Derivative liability, current	0	12
Fair Value, Recurring \| Level 3
Liabilities
Contingent consideration, current	6	0
Contingent consideration, noncurrent	29	0
Obligation to purchase redeemable noncontrolling interest	0	95
Contingent debt guarantee	$ 6	$ 15

Redeemable Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2025

Noncontrolling Interest [Abstract]

The following table presents a summary of the redeemable noncontrolling interest activity during the year ended December 31, 2024:


(In millions)
Balance at beginning of year	$	161
Distributions paid to redeemable noncontrolling interest	(13)
Share of income	13
Adjustment to estimated redemption value of redeemable noncontrolling interest	(66)
Reclassification to current liability	(95)
Balance at end of year	$	—

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Valuation allowance	$ 420	$ 404
Unrecognized tax benefits that would impact effective tax rate	60
Interest expense and penalties (less than in 2022)	(1)	1	$ 2
Accrued interest expense and penalties	$ 14	$ 16

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis consisted of the following:


			Fair Value at December 31,
(In millions)	Classification	Fair Value Hierarchy	2025		2024
Assets

Cross-currency rate swap contract designated as net investment hedge	Prepaid expenses and other current assets	Level 2	$	—	$	2

Cross-currency rate swap contracts designated as net investment hedges	Other long-term assets	Level 2	—		6


Liabilities

Cross-currency rate swap contract designated as fair value hedge	Accounts payable and other current liabilities	Level 2	$	—	$	12
Cross-currency rate swap contracts designated as net investment hedges	Accounts payable and other current liabilities	Level 2	29		9
Forward exchange contracts designated as cash flow hedges	Accounts payable and other current liabilities	Level 2	10		6
Forward exchange contracts designated as cash flow hedges	Other long-term liabilities	Level 2	1		2



Cross-currency rate swap contracts designated as net investment hedges	Other long-term liabilities	Level 2	81		17
Contingent consideration	Accounts payable and other current liabilities	Level 3	6		—
Contingent consideration	Other long-term liabilities	Level 3	29		—
Obligation to purchase redeemable noncontrolling interest	Accounts payable and other current liabilities	Level 3	—		95

Contingent debt guarantee	Other long-term liabilities	Level 3	6		15

Summary of Significant Accounting Policies - Prepaid Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Loss Contingencies [Line Items]
Prepaid maintenance, postage and insurance	$ 334	$ 216
Other prepaid expenses	269	188
Total prepaid expenses	603	404
Income taxes receivables	148	501
Other current assets	858	700
Total other current assets	2,793	2,683
Total prepaid expenses and other current assets	$ 3,396	3,087
Minimum
Loss Contingencies [Line Items]
Merchant cash advances, collection period	6 months
Maximum
Loss Contingencies [Line Items]
Merchant cash advances, collection period	12 months
Clover Capital
Loss Contingencies [Line Items]
Cash advances	$ 564	381
Foreign Merchants
Loss Contingencies [Line Items]
Cash advances	$ 1,223	1,101
Settlement anticipation cash advances, collection period	30 days
Merchants Utilizing Clover Capital Cash Advance Program
Loss Contingencies [Line Items]
Cash advances	$ 598	397
Financing receivable, allowance for credit loss, excluding accrued interest, current	$ 34	$ 16

Settlement Assets and Obligations (Tables)

12 Months Ended

Dec. 31, 2025

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of settlement assets and obligations

The principal components of the Company’s settlement assets were as follows:


	December 31,
(In millions)	2025		2024
Settlement assets
Cash and cash equivalents	$	1,978	$	1,756
Receivables	14,501		13,673
Total settlement assets	$	16,479	$	15,429

Leases - Components of Lease Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Sales-type leases:
Selling profit (loss)	$ 92	$ 74	$ 56
Interest income	116	87	81
Operating lease income	$ 236	$ 243	$ 259
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Total revenue	Total revenue	Total revenue
Product revenue
Sales-type leases:
Selling profit (loss)	$ 257	$ 213	$ 160
Cost of product
Sales-type leases:
Selling profit (loss)	$ (165)	$ (139)	$ (104)

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2025
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Merchant Alliances A portion of the Company’s business is conducted through merchant alliances between the Company and certain financial institutions (see Note 8). A merchant alliance is an agreement between the Company and a financial institution that combines the processing capabilities and management expertise of the Company with the visibility and distribution channel of the financial institution. A merchant alliance acquires credit and debit card transactions from merchants. The Company provides processing and other services to the alliance and charges fees to the alliance based on contractual pricing. To the extent the Company maintains a controlling financial interest in an alliance, the alliance’s financial statements are consolidated with those of the Company and the related processing fees are treated as an intercompany transaction and eliminated in consolidation. To the extent the Company has significant influence in, but not control of, an alliance, the Company uses the equity method to account for its investment in the alliance. As a result, the processing and other service fees charged to merchant alliances accounted for under the equity method are recognized in the Company’s consolidated statements of income primarily as processing and services revenue. Such fees totaled $90 million, $140 million and $177 million during the years ended December 31, 2025, 2024 and 2023, respectively. No directors or officers of the Company have ownership interests in any of the merchant alliances. The formation of each of these alliances generally involves the Company and the financial institution contributing contracts with merchants to the alliance and a cash payment from one owner to the other to achieve the desired ownership percentage for each. The Company and the financial institution enter into a long-term processing service agreement, which governs the Company’s provision of transaction processing services to the alliance. The Company had approximately $7 million and $21 million of amounts due from unconsolidated merchant alliances included within trade accounts receivable, net in the Company’s consolidated balance sheets at December 31, 2025 and 2024, respectively. Share Repurchase On August 7, 2023, the Company entered into a stock purchase agreement with ValueAct Capital Master Fund, L.P., an affiliate of which employed a member of the Company’s board of directors, to repurchase 4.1 million shares of the Company’s common stock for $121.98 per share in a privately negotiated transaction for an aggregate purchase price of $500 million. The repurchase was effected pursuant to an existing repurchase authorization for up to 75.0 million shares of the Company’s common stock approved by the Company’s board of directors on February 22, 2023. The share repurchase was completed on August 8, 2023, and the fair value of the repurchased shares of Company common stock was recorded to treasury stock during the year ended December 31, 2023.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 20
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Derivatives and Hedging Instruments - Narrative (Details) € in Millions, £ in Millions, $ in Millions, $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2025 EUR (€)	Dec. 31, 2025 SGD ($)	Dec. 31, 2025 CAD ($)	Dec. 31, 2025 GBP (£)	Dec. 31, 2024 EUR (€)	Dec. 31, 2024 SGD ($)	Dec. 31, 2024 CAD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Estimate of gain related to foreign currency exchange contracts during the next 12 months	$ (10)
Accumulated other comprehensive loss	984	$ 1,413
Estimated interest expense related to settled interest rate hedge contracts during the next twelve months	13
Foreign currency translation adjustment, tax	(138)	66	$ (68)
Foreign currency transaction gain (loss), before tax	$ (60)	(8)	(6)
2.250% senior notes due July 2025 (British Pound-denominated) \| Senior Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate, stated percentage	2.25%			2.25%	2.25%	2.25%	2.25%
Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount				€ 940	$ 828	$ 405		€ 600	$ 841	$ 259
Foreign currency translation adjustment, tax	$ 138	(66)	$ 68
Treasury Lock
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Accumulated other comprehensive loss	88	101
Cross-currency rate swap contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount \| £							£ 525
Indian Rupee \| Foreign currency forward exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 323	$ 481
United Kingdom, Pounds \| 2.250% senior notes due July 2025 (British Pound-denominated) \| Senior Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate, stated percentage	2.25%			2.25%	2.25%	2.25%	2.25%

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Carrying value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total debt	$ 26,900	$ 23,900
Level 2 \| Fair Value
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Total debt	26,400	23,200
Lending Solutions Business
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Other (expense) income	18	18	$ 7
Financial Guarantee
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Carrying value of non-contingent liability	482
Financial Guarantee \| Lending Solutions Business
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Carrying value of non-contingent liability	$ 12	$ 21

Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable.

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
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Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Share-Based Payment Arrangement [Abstract]

Summary of Significant Accounting Policies - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Interest paid	$ 1,408	$ 1,153	$ 879
Net income taxes paid, including transferable federal tax credits	1,369	1,169	1,219
Treasury stock purchases settled after the balance sheet date	0	0	29
Software and other intangible assets obtained under financing arrangements	578	151	188
Hardware obtained under financing arrangements	$ 202	$ 0	$ 0

Share-Based Compensation

12 Months Ended

Dec. 31, 2025

Share-Based Compensation

The Company recognizes the fair value of share-based compensation awards granted to employees in cost of processing and services, cost of product, and selling, general and administrative expense in its consolidated statements of income.

The Company’s share-based compensation awards are typically granted in the first quarter of the year; however, grants may also occur throughout the year, and primarily consist of the following:

•Restricted Stock Units and Awards – The Company grants restricted stock units and awards to employees and non-employee directors. Time-based restricted stock units and award grants generally vest over a three-year period. In December 2025, the Company granted discretionary restricted stock units to certain employees, which fully vest after an 18 month period. The Company recognizes compensation expense for restricted stock units and awards based on the market price of its common stock on the grant date over the period during which the units and awards vest.

•Performance Share Units – The Company grants performance share units to employees. The number of shares issued at the end of the performance period is determined by the level of achievement of predefined performance goals, including earnings, revenue growth, integration attainment, and shareholder return. The Company recognizes compensation expense on performance share units ratably over the requisite performance period of the award, generally two to five years, to the extent management views the performance goals as probable of attainment. The Company recognizes compensation expense for the fair value of the shareholder return component over the requisite service period of the award.

•Stock Options – The Company may grant stock options to employees and non-employee directors at exercise prices equal to the fair market value of the Company’s stock on the dates of grant. Stock option grants generally vest over a three- or four-year period. All stock options expire ten years from the date of the award. The Company recognizes compensation expense for the fair value of the stock options over the requisite service period of the stock option award.

•Employee Stock Purchase Plan – The Company maintains an employee stock purchase plan that allows eligible employees to purchase a limited number of shares of common stock each quarter through payroll deductions at a discount of the closing price of the Company’s common stock on the last business day of each calendar quarter. The employee discount of 5% under the employee stock purchase plan is considered non-compensatory and therefore does not give rise to recognizable compensation cost.

The Company recognized $357 million, $367 million and $342 million of share-based compensation expense during the years ended December 31, 2025, 2024 and 2023, respectively. At December 31, 2025, the total remaining unrecognized compensation cost for restricted stock units and awards and performance share units, net of estimated forfeitures, of $324 million is expected to be recognized over a weighted-average period of 1.8 years. During the years ended December 31, 2025, 2024 and 2023, stock options to purchase 827 thousand, 2.3 million and 2.4 million shares, respectively, were exercised.

Share-Based Compensation Activity

A summary of restricted stock unit, restricted stock award and performance share unit activity during the year ended December 31, 2025 is as follows:


	Restricted Stock Units and Awards			Performance Share Units
	Shares (In thousands)	Weighted- Average Grant Date Fair Value		Shares (In thousands)	Weighted- Average Grant Date Fair Value
Units and awards - December 31, 2024	4,716	$	124.78	1,966	$	116.62

Granted	2,103	214.39		1,115	203.92
Forfeited	(371)	168.42		(204)	132.41
Vested	(2,558)	124.01		(626)	111.14
Units and awards - December 31, 2025	3,890	$	156.58	2,251	$	138.57

In conjunction with certain acquisitions, the Company granted restricted stock units with performance vesting provisions to be measured over two and five years, which are presented as performance share units within the table above.

No stock option awards were granted during the years ended December 31, 2025, 2024 and 2023. A summary of stock option activity during the year ended December 31, 2025 is as follows:


	Shares (In thousands)	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In millions)
Stock options outstanding - December 31, 2024	1,586	$	89.65



Exercised	(827)	88.56
Stock options outstanding - December 31, 2025	759	$	90.84	3.30	$	5
Stock options exercisable - December 31, 2025	759	$	90.84	3.30	$	5

The table below presents additional information related to stock option and restricted stock unit activity:


(In millions)	2025		2024		2023
Total intrinsic value of stock options exercised	$	99	$	212	$	177
Fair value of restricted stock units and awards vested	684		554		267
Income tax benefit from stock options exercised and restricted stock units and awards vested	131		175		101
Cash received from stock options exercised	23		56		62

At December 31, 2025, 15.4 million share-based awards were available for grant under the Amended and Restated Fiserv, Inc. 2007 Omnibus Incentive Plan. Under its employee stock purchase plan, the Company issued 338 thousand, 255 thousand and 346 thousand shares during the years ended December 31, 2025, 2024 and 2023, respectively. At December 31, 2025, there were 22.3 million shares available for issuance under the employee stock purchase plan.

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	$ 798	$ 1,236
Trade accounts receivable, less allowance for doubtful accounts	3,981	3,725
Prepaid expenses and other current assets	3,396	3,087
Settlement assets	16,479	15,429
Total current assets	24,654	23,477
Property and equipment, net	3,084	2,374
Intangible assets, net	10,161	9,940
Goodwill	37,703	36,584
Contract costs, net	1,039	996
Investments in unconsolidated affiliates	1,046	1,506
Other long-term assets	2,446	2,299
Total assets	80,133	77,176
Liabilities and Equity
Accounts payable and other current liabilities	5,307	4,799
Short-term and current maturities of long-term debt	1,239	1,110
Contract liabilities	865	819
Settlement obligations	16,479	15,429
Total current liabilities	23,890	22,157
Long-term debt	27,758	23,730
Deferred income taxes	1,478	2,477
Long-term contract liabilities	259	263
Other long-term liabilities	939	863
Total liabilities	54,324	49,490
Commitments and Contingencies (see Note 17)
Fiserv, Inc. Shareholders’ Equity:
Preferred stock, no par value: 25 million shares authorized; none issued	0	0
Common stock, $0.01 par value: 1,800 million shares authorized; 784 million shares issued	8	8
Additional paid-in capital	23,260	23,080
Accumulated other comprehensive loss	(984)	(1,413)
Retained earnings	27,055	23,575
Treasury stock, at cost, 250 million and 220 million shares, respectively	(23,547)	(18,182)
Total Fiserv, Inc. shareholders’ equity	25,792	27,068
Noncontrolling interests	17	618
Total equity	25,809	27,686
Total liabilities and equity	80,133	77,176
Customer relationships, net
Assets
Intangible assets, net	5,093	5,868
Other intangible assets, net
Assets
Intangible assets, net	$ 5,068	$ 4,072

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Dec. 31, 2025	Aug. 11, 2025	Dec. 31, 2024	Aug. 12, 2024
Short-term and current maturities of long-term debt:
Total short-term and current maturities of long-term debt	$ 1,239		$ 1,110
Finance lease and other financing obligations	477		326
Long-term debt:
Unamortized discount and deferred financing costs	(169)		(150)
Finance lease and other financing obligations	1,635		656
Total long-term debt	$ 27,758		23,730
Senior Notes \| 3.850% senior notes due June 2025
Debt Instrument [Line Items]
Interest rate, stated percentage	3.85%
Long-term debt:
Long-term debt	$ 0		900
Senior Notes \| 2.250% senior notes due July 2025 (British Pound-denominated)
Debt Instrument [Line Items]
Interest rate, stated percentage	2.25%
Long-term debt:
Long-term debt	$ 0		661
Senior Notes \| 3.200% senior notes due July 2026
Debt Instrument [Line Items]
Interest rate, stated percentage	3.20%
Long-term debt:
Long-term debt	$ 2,000		2,000
Senior Notes \| 5.150% senior notes due March 2027
Debt Instrument [Line Items]
Interest rate, stated percentage	5.15%
Long-term debt:
Long-term debt	$ 750		750
Senior Notes \| 2.250% senior notes due June 2027
Debt Instrument [Line Items]
Interest rate, stated percentage	2.25%
Long-term debt:
Long-term debt	$ 1,000		1,000
Senior Notes \| 1.125% senior notes due July 2027 (Euro-denominated)
Debt Instrument [Line Items]
Interest rate, stated percentage	1.125%
Long-term debt:
Long-term debt	$ 589		521
Senior Notes \| 5.450% senior notes due March 2028
Debt Instrument [Line Items]
Interest rate, stated percentage	5.45%
Long-term debt:
Long-term debt	$ 900		900
Senior Notes \| 2.875% senior notes due June 2028 (Euro-denominated)
Debt Instrument [Line Items]
Interest rate, stated percentage	2.875%
Long-term debt:
Long-term debt	$ 883		0
Senior Notes \| 5.375% senior notes due August 2028
Debt Instrument [Line Items]
Interest rate, stated percentage	5.375%
Long-term debt:
Long-term debt	$ 700		700
Senior Notes \| 4.200% senior notes due October 2028
Debt Instrument [Line Items]
Interest rate, stated percentage	4.20%
Long-term debt:
Long-term debt	$ 1,000		1,000
Senior Notes \| 3.500% senior notes due July 2029
Debt Instrument [Line Items]
Interest rate, stated percentage	3.50%
Long-term debt:
Long-term debt	$ 3,000		3,000
Senior Notes \| 4.750% senior notes due March 2030
Debt Instrument [Line Items]
Interest rate, stated percentage	4.75%			4.75%
Long-term debt:
Long-term debt	$ 850		850
Senior Notes \| 2.650% senior notes due June 2030
Debt Instrument [Line Items]
Interest rate, stated percentage	2.65%
Long-term debt:
Long-term debt	$ 1,000		1,000
Senior Notes \| 1.625% senior notes due July 2030 (Euro-denominated)
Debt Instrument [Line Items]
Interest rate, stated percentage	1.625%
Long-term debt:
Long-term debt	$ 589		521
Senior Notes \| 4.550% senior notes due February 2031
Debt Instrument [Line Items]
Interest rate, stated percentage	4.55%
Long-term debt:
Long-term debt	$ 1,000		0
Senior Notes \| 5.350% senior notes due March 2031
Debt Instrument [Line Items]
Interest rate, stated percentage	5.35%
Long-term debt:
Long-term debt	$ 500		500
Senior Notes \| 4.500% senior notes due May 2031 (Euro-denominated)
Debt Instrument [Line Items]
Interest rate, stated percentage	4.50%
Long-term debt:
Long-term debt	$ 942		835
Senior Notes \| 3.000% senior notes due July 2031 (British Pound-denominated)
Debt Instrument [Line Items]
Interest rate, stated percentage	3.00%
Long-term debt:
Long-term debt	$ 709		661
Senior Notes \| 3.500% senior notes due June 2032 (Euro-denominated)
Debt Instrument [Line Items]
Interest rate, stated percentage	3.50%
Long-term debt:
Long-term debt	$ 912		0
Senior Notes \| 5.600% senior notes due March 2033
Debt Instrument [Line Items]
Interest rate, stated percentage	5.60%
Long-term debt:
Long-term debt	$ 900		900
Senior Notes \| 5.625% senior notes due August 2033
Debt Instrument [Line Items]
Interest rate, stated percentage	5.625%
Long-term debt:
Long-term debt	$ 1,300		1,300
Senior Notes \| 5.450% senior notes due March 2034
Debt Instrument [Line Items]
Interest rate, stated percentage	5.45%
Long-term debt:
Long-term debt	$ 750		750
Senior Notes \| 5.150% senior notes due August 2034
Debt Instrument [Line Items]
Interest rate, stated percentage	5.15%			5.15%
Long-term debt:
Long-term debt	$ 900		900
Senior Notes \| 5.250% senior notes due August 2035
Debt Instrument [Line Items]
Interest rate, stated percentage	5.25%	5.25%
Long-term debt:
Long-term debt	$ 1,000		0
Senior Notes \| 4.000% senior notes due June 2036 (Euro-denominated)
Debt Instrument [Line Items]
Interest rate, stated percentage	4.00%
Long-term debt:
Long-term debt	$ 765		0
Senior Notes \| 4.400% senior notes due July 2049
Debt Instrument [Line Items]
Interest rate, stated percentage	4.40%
Long-term debt:
Long-term debt	$ 2,000		2,000
Commercial Paper \| U.S. dollar commercial paper notes
Long-term debt:
Long-term debt	326		221
Commercial Paper \| Euro commercial paper notes
Long-term debt:
Long-term debt	839		1,239
Line of Credit \| Revolving credit facility
Long-term debt:
Long-term debt	188		115
Foreign lines of credit
Short-term and current maturities of long-term debt:
Total short-term and current maturities of long-term debt	$ 762		$ 784

Summary of Significant Accounting Policies - Goodwill (Details)	12 Months Ended
	Dec. 31, 2025 USD ($)
Accounting Policies [Abstract]
Goodwill impairment	$ 0
Accumulated impairment loss	$ 0

Amount of impairment loss from asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.