Supplemental Guarantor Condensed Consolidating Financial Statements | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' |
Note 15: Supplemental Guarantor Condensed Consolidating Financial Statements | |
| Note 19: Supplemental Guarantor Condensed Consolidating Financial Statements |
As described in Note 4 of these Consolidated Financial Statements and in Note 8 of the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, the 12.625% senior notes, 11.25% senior notes, 10.625% senior notes, 11.25% senior subordinated notes and 11.75% senior subordinated notes are guaranteed by substantially all existing and future, direct and indirect, wholly-owned, domestic subsidiaries of FDC other than Integrated Payment Systems Inc. (“Guarantors”). The Guarantors guarantee the senior secured revolving credit facility, senior secured term loan facility, the 8.875% senior secured notes, the 7.375% senior secured notes and the 6.75% senior secured notes, which rank senior in right of payment to all existing and future unsecured and second lien indebtedness of FDC’s guarantor subsidiaries to the extent of the value of the collateral. The Guarantors guarantee the 8.25% senior second lien notes and 8.75%/10.00% PIK toggle senior second lien notes which rank senior in right of payment to all existing and future unsecured indebtedness of FDC’s guarantor subsidiaries to the extent of the value of the collateral. The 12.625% senior note, 10.625% senior note and 11.25% senior note guarantees are unsecured and rank equally in right of payment with all existing and future senior indebtedness of the guarantor subsidiaries but senior in right of payment to all existing and future subordinated indebtedness of FDC’s guarantor subsidiaries. The 11.25% senior subordinated note and 11.75% senior subordinated note guarantees are unsecured and rank equally in right of payment with all existing and future senior subordinated indebtedness of the guarantor subsidiaries. | |
| As described in Note 8 of these Consolidated Financial Statements, FDC's 9.875% senior notes, 12.625% senior notes, 10.55% senior notes and 11.25% senior subordinated notes are unconditionally guaranteed by substantially all existing and future, direct and indirect, wholly-owned, domestic subsidiaries of FDC other than Integrated Payment Systems Inc. ("Guarantors"). None of the other subsidiaries of FDC, either direct or indirect, guarantee the notes ("Non-Guarantors"). The Guarantors also unconditionally guarantee the senior secured revolving credit facility, senior secured term loan facility, the 8.875% senior secured notes, the 7.375% senior secured notes and the 6.75% senior secured notes, which rank senior in right of payment to all existing and future unsecured and second lien indebtedness of FDC's guarantor subsidiaries to the extent of the value of the collateral. The Guarantors further unconditionally guarantee the 8.25% senior second lien notes and 8.75%/10.00% PIK toggle senior second lien notes which rank senior in right of payment to all existing and future unsecured indebtedness of FDC's guarantor subsidiaries to the extent of the value of the collateral. The 9.875% senior note, 12.625% senior note, 10.55% senior note and 11.25% senior subordinated note guarantees are unsecured and rank equally in right of payment with all existing and future senior indebtedness of the guarantor subsidiaries but senior in right of payment to all existing and future subordinated indebtedness of FDC's guarantor subsidiaries. The 11.25% senior subordinated note guarantees are unsecured and rank equally in right of payment with all existing and future senior subordinated indebtedness of the guarantor subsidiaries. |
All of the above guarantees are full, unconditional, and joint and several and each of the Guarantors is 100% owned, directly or indirectly, by FDC. None of the other subsidiaries of FDC, either direct or indirect, guarantee the notes (“Non-Guarantors”). The Guarantors are subject to release under certain circumstances as described below. | |
| All of the above guarantees are full, unconditional, and joint and several and each of the Guarantors is 100% owned, directly or indirectly, by FDC. None of the other subsidiaries of FDC, either direct or indirect, guarantee the notes ("Non-Guarantors"). The Guarantors are subject to release under certain circumstances as described below. |
The credit agreement governing the guarantees of the senior secured revolving credit facility and senior secured term loan facility provide for a Guarantor to be automatically and unconditionally released and discharged from its guarantee obligations in certain circumstances, including when the Guarantor ceases to be a “restricted subsidiary” for purposes of the agreement covenants because: | |
| The credit agreement governing the guarantees of the senior secured revolving credit facility and senior secured term loan facility provide for a Guarantor to be automatically and unconditionally released and discharged from its guarantee obligations in certain circumstances, including when the Guarantor ceases to be a "restricted subsidiary" for purposes of the agreement covenants because: |
· FDC no longer directly or indirectly owns 50% of the equity or, if a corporation, stock having voting power to elect a majority of the board of directors of the Guarantor; or | |
· the Guarantor is designated as an “unrestricted subsidiary” for purposes of the agreement covenants. | |
| |
The indentures governing all of the other guarantees described above provide for a Guarantor to be automatically and unconditionally released and discharged from its guarantee obligations in certain circumstances, including upon the earliest to occur of: | • |
| FDC no longer directly or indirectly owns 50% of the equity or, if a corporation, stock having voting power to elect a majority of the board of directors of the Guarantor; or |
· the sale, exchange or transfer of the subsidiary’s capital stock or all or substantially all of its assets; | |
· designation of the Guarantor as an “unrestricted subsidiary” for purposes of the indenture covenants; | • |
· release or discharge of the Guarantor’s guarantee of certain other indebtedness; or | the Guarantor is designated as an "unrestricted subsidiary" for purposes of the agreement covenants. |
· legal defeasance or covenant defeasance of the indenture obligations when provision has been made for them to be fully satisfied. | |
| The indentures governing all of the other guarantees described above provide for a Guarantor to be automatically and unconditionally released and discharged from its guarantee obligations in certain circumstances, including upon the earliest to occur of: |
In the second quarter of 2010, the Company reorganized the ownership structure of two entities for tax purposes. The reorganization did not have any impact to the Company’s Consolidated Financial Statements, however, the impact of the reorganization was not appropriately reflected in the Company’s previously reported supplemental guarantor condensed consolidating financial statements. The Company does not believe these errors were material. In addition to the items just described, the Company corrected certain other immaterial errors. The adjustments are limited to the guarantor footnote and do not affect any other reported amounts or disclosures in the Company’s Consolidated Financial Statements. A summary of the corrections is as follows: | |
| |
Increase (Decrease) from Amounts Previously Reported | |
| • |
| | Three months ended September 30, 2012 | | | | | | | | | | | | | | the sale, exchange or transfer of the subsidiary's capital stock or all or substantially all of its assets; |
(in millions) | | FDC Parent | | Guarantor | | Non-Guarantor | | Consolidation | | | | | | | | | | | | | | |
Company | Subsidiaries | Subsidiaries | Adjustments | | | | | | | | | | | | | • |
(Loss) income before income taxes and equity earnings in affiliates | | $ | 10.8 | | $ | (27.6 | ) | $ | (1.1 | ) | $ | 17.9 | | | | | | | | | | | | | | designation of the Guarantor as an "unrestricted subsidiary" for purposes of the indenture covenants; |
Income tax (benefit) expense | | $ | 10.8 | | $ | (10.4 | ) | $ | (0.4 | ) | $ | — | | | | | | | | | | | | | | |
Net (loss) income | | $ | — | | $ | (17.2 | ) | $ | (0.7 | ) | $ | 17.9 | | | | | | | | | | | | | | • |
Net (loss) income attributable to First Data Corporation | | $ | — | | $ | (17.2 | ) | $ | (0.7 | ) | $ | 17.9 | | | | | | | | | | | | | | release or discharge of the Guarantor's guarantee of certain other indebtedness; or |
| |
| | Nine months ended September 30, 2012 | | | | | | | | | | | | | | • |
(in millions) | | FDC Parent | | Guarantor | | Non-Guarantor | | Consolidation | | | | | | | | | | | | | | legal defeasance or covenant defeasance of the indenture obligations when provision has been made for them to be fully satisfied. |
Company | Subsidiaries | Subsidiaries | Adjustments | | | | | | | | | | | | | |
(Loss) income before income taxes and equity earnings in affiliates | | $ | 35.3 | | $ | (92.7 | ) | $ | (1.6 | ) | $ | 59 | | | | | | | | | | | | | | During the second quarter of 2011, the Company began allocating certain general and administrative expenses of the parent company to its subsidiaries. This allocation was inadvertently not reflected in the Company's previously reported supplemental guarantor condensed consolidating financial statements. In the second quarter of 2010, the Company reorganized the ownership structure of two entities for tax purposes. The reorganization did not have any impact to the Company's consolidated financial statements, however, the impact of the reorganization was not appropriately reflected in the Company's previously reported supplemental guarantor condensed consolidating financial statements. The Company does not believe these errors were material. In addition to the items just described, the Company corrected certain other immaterial errors. The adjustments are limited to the guarantor footnote and do not affect any other reported amounts or disclosures in the Company's consolidated financial statements. A summary of the corrections is as follows: |
Income tax (benefit) expense | | $ | 35.3 | | $ | (34.7 | ) | $ | (0.6 | ) | $ | — | | | | | | | | | | | | | | |
Net (loss) income | | $ | — | | $ | (58.0 | ) | $ | (1.0 | ) | $ | 59 | | | | | | | | | | | | | | |
Net (loss) income attributable to First Data Corporation | | $ | — | | $ | (58.0 | ) | $ | (1.0 | ) | $ | 59 | | | | | | | | | | | | | | Increase (Decrease) from Amounts Previously Reported |
| |
CONSOLIDATED STATEMENTS OF OPERATIONS | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | For the nine months ended September 30, 2012 | | | | | | | | | | | | | |
| | Three months ended September 30, 2012 | | (in millions) | | FDC Parent | | Guarantor | | Non-Guarantor | | Consolidation | | | | | | | | | | | | | |
| | FDC Parent Company | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidation Adjustments | | Company | Subsidiaries | Subsidiaries | Adjustments | | | | | | | | | | | | |
(in millions) | | As previously | | As corrected | | As previously | | As corrected | | As previously | | As | | As previously | | As corrected | | (Loss) income before income taxes and equity earnings in affiliates | | $ | 35.3 | | $ | (92.7 | ) | $ | (1.6 | ) | $ | 59 | | | | | | | | | | | | | |
reported | reported | reported | corrected | reported | Income tax (benefit) expense | | | 35.3 | | | (34.7 | ) | | (0.6 | ) | | — | | | | | | | | | | | | | |
Cost of services | | $ | — | | $ | — | | $ | 496.1 | | $ | 494.4 | | $ | 280.8 | | $ | 282.5 | | $ | (47.9 | ) | $ | (47.9 | ) | Net (loss) income | | | — | | | (58.0 | ) | | (1.0 | ) | | 59 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | Net (loss) income attributable to First Data Corporation | | | — | | | (58.0 | ) | | (1.0 | ) | | 59 | | | | | | | | | | | | | |
Operating (loss) profit | | $ | (46.6 | ) | $ | (46.6 | ) | $ | 163 | | $ | 164.7 | | $ | 135.5 | | $ | 133.8 | | $ | — | | $ | — | | |
Interest income (expense) from intercompany notes | | $ | 49.4 | | $ | 78.1 | | $ | (50.7 | ) | $ | (80.0 | ) | $ | 1.3 | | $ | 1.9 | | $ | — | | $ | — | | |
Equity earnings from consolidated subsidiaries | | $ | 146.4 | | $ | 128.5 | | $ | 39.6 | | $ | 39.6 | | $ | — | | $ | — | | $ | (186.0 | ) | $ | (168.1 | ) | |
(Loss) income before income taxes and equity earnings in affiliates | | $ | (388.4 | ) | $ | (377.6 | ) | $ | 140.9 | | $ | 113.3 | | $ | 146.9 | | $ | 145.8 | | $ | (186.0 | ) | $ | (168.1 | ) | |
Income tax (benefit) expense | | $ | (176.4 | ) | $ | (165.6 | ) | $ | 77.9 | | $ | 67.5 | | $ | 29.1 | | $ | 28.7 | | $ | — | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net (loss) income | | $ | (212.0 | ) | $ | (212.0 | ) | $ | 105.7 | | $ | 88.5 | | $ | 118.1 | | $ | 117.4 | | $ | (186.0 | ) | $ | (168.1 | ) | | | Year ended December 31, 2011 | | | | | | | | | | | | | |
Net (loss) income attributable to First Data Corporation | | $ | (212.0 | ) | $ | (212.0 | ) | $ | 105.7 | | $ | 88.5 | | $ | 103.2 | | $ | 102.5 | | $ | (208.9 | ) | $ | (191.0 | ) | (in millions) | | FDC Parent | | Guarantor | | Non-Guarantor | | Consolidation | | | | | | | | | | | | | |
| Company | Subsidiaries | Subsidiaries | Adjustments | | | | | | | | | | | | |
| | Nine months ended September 30, 2012 | | (Loss) income before income taxes and equity earnings in affiliates | | $ | 110.4 | | $ | (260.1 | ) | $ | (36.6 | ) | $ | 186.3 | | | | | | | | | | | | | |
| | FDC Parent Company | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidation Adjustments | | Income tax (benefit) expense | | | 110.4 | | | (97.9 | ) | | (12.5 | ) | | — | | | | | | | | | | | | | |
(in millions) | | As previously | | As corrected | | As previously | | As corrected | | As previously | | As | | As previously | | As corrected | | Net (loss) income | | | — | | | (162.2 | ) | | (24.1 | ) | | 186.3 | | | | | | | | | | | | | |
reported | reported | reported | corrected | reported | Net (loss) income attributable to First Data Corporation | | | — | | | (161.9 | ) | | (24.4 | ) | | 186.3 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
Selling, general and administrative | | $ | 110 | | $ | 105.6 | | $ | 875.7 | | $ | 877.2 | | $ | 387.6 | | $ | 390.5 | | $ | — | | $ | — | | |
Operating (loss) profit | | $ | (115.8 | ) | $ | (111.4 | ) | $ | 553.7 | | $ | 552.2 | | $ | 298.9 | | $ | 296 | | $ | — | | $ | — | | |
Interest income (expense) from intercompany notes | | $ | 144.3 | | $ | 234.4 | | $ | (148.6 | ) | $ | (240.0 | ) | $ | 4.3 | | $ | 5.6 | | $ | — | | $ | — | | |
Equity earnings from consolidated subsidiaries | | $ | 435.1 | | $ | 375.9 | | $ | 120.8 | | $ | 121 | | $ | — | | $ | — | | $ | (555.9 | ) | $ | (496.9 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | |
(Loss) income before income taxes and equity earnings in affiliates | | $ | (1,031.8 | ) | $ | (996.5 | ) | $ | 512 | | $ | 419.3 | | $ | 305.6 | | $ | 304 | | $ | (555.9 | ) | $ | (496.9 | ) | | | Year ended December 31, 2010 | | | | | | | | | | | | | |
Income tax (benefit) expense | | $ | (509.9 | ) | $ | (474.6 | ) | $ | 234.5 | | $ | 199.8 | | $ | 23.1 | | $ | 22.5 | | $ | — | | $ | — | | (in millions) | | FDC Parent | | Guarantor | | Non-Guarantor | | Consolidation | | | | | | | | | | | | | |
Net (loss) income | | $ | (521.9 | ) | $ | (521.9 | ) | $ | 390.8 | | $ | 332.8 | | $ | 283.7 | | $ | 282.7 | | $ | (555.9 | ) | $ | (496.9 | ) | Company | Subsidiaries | Subsidiaries | Adjustments | | | | | | | | | | | | |
Net (loss) income attributable to First Data Corporation | | $ | (521.9 | ) | $ | (521.9 | ) | $ | 390.8 | | $ | 332.8 | | $ | 239.8 | | $ | 238.8 | | $ | (630.6 | ) | $ | (571.6 | ) | (Loss) income before income taxes and equity earnings in affiliates | | $ | 44 | | $ | (108.6 | ) | $ | (9.4 | ) | $ | 74 | | | | | | | | | | | | | |
| Income tax (benefit) expense | | | 44 | | | (40.4 | ) | | (3.6 | ) | | — | | | | | | | | | | | | | |
CONSOLIDATED STATEMENTS OF CASH FLOWS | Net (loss) income | | | — | | | (68.2 | ) | | (5.8 | ) | | 74 | | | | | | | | | | | | | |
| Net (loss) income attributable to First Data Corporation | | | — | | | (68.4 | ) | | (5.6 | ) | | 74 | | | | | | | | | | | | | |
| | Nine months ended September 30, 2012 | | |
| | FDC Parent Company | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidation Adjustments | | |
(in millions) | | As | | As corrected | | As previously | | As corrected | | As previously | | As corrected | | As previously | | As corrected | | CONSOLIDATED STATEMENTS OF OPERATIONS |
previously | reported | reported | reported | |
reported | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | | | | | | | For the nine months ended September 30, 2012 | |
Net (loss) income | | $ | (521.9 | ) | $ | (521.9 | ) | $ | 390.8 | | $ | 332.8 | | $ | 283.7 | | $ | 282.7 | | $ | (555.9 | ) | $ | (496.9 | ) | | | FDC Parent | | Guarantor | | Non-Guarantor | | Consolidation | |
Other non-cash and non-operating items, net | | $ | (405.3 | ) | $ | (346.1 | ) | $ | (193.9 | ) | $ | (194.1 | ) | $ | 5.5 | | $ | 5.5 | | $ | 555.9 | | $ | 496.9 | | Company | Subsidiaries | Subsidiaries | Adjustments |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | | $ | (519.1 | ) | $ | (483.8 | ) | $ | 381.9 | | $ | 347.2 | | $ | 0.3 | | $ | (0.3 | ) | $ | — | | $ | — | | (in millions) | | As | | As | | As | | As | | As | | As | | As | | As | |
Net cash (used in) provided by operating activities | | $ | (1,361.8 | ) | $ | (1,267.3 | ) | $ | 1,238.10 | | $ | 1,145.20 | | $ | 661.9 | | $ | 660.3 | | $ | — | | $ | — | | previously | corrected | previously | corrected | previously | corrected | previously | corrected |
CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | reported | | reported | | reported | | reported | |
Intercompany | | $ | 1,231.60 | | $ | 1,137.10 | | $ | (1,191.1 | ) | $ | (1,098.2 | ) | $ | (40.5 | ) | $ | (38.9 | ) | $ | — | | $ | — | | Selling, general and administrative | | $ | 110 | | $ | 105.6 | | $ | 875.7 | | $ | 877.2 | | $ | 387.6 | | $ | 390.5 | | $ | — | | $ | — | |
Net cash provided by (used in) financing activities | | $ | 1,243.10 | | $ | 1,148.60 | | $ | (1,222.2 | ) | $ | (1,129.3 | ) | $ | (550.3 | ) | $ | (548.7 | ) | $ | 248.6 | | $ | 248.6 | | Operating (loss) profit | | | (115.8 | ) | | (111.4 | ) | | 553.7 | | | 552.2 | | | 298.9 | | | 296 | | | — | | | — | |
| Interest income (expense) from intercompany notes | | | 144.3 | | | 234.4 | | | (148.6 | ) | | (240.0 | ) | | 4.3 | | | 5.6 | | | — | | | — | |
The following tables present the results of operations, comprehensive income, financial position and cash flows of FDC (“FDC Parent Company”), the Guarantor subsidiaries, the Non-Guarantor subsidiaries and consolidation adjustments for the three and nine months ended September 30, 2013 and 2012, and as of September 30, 2013 and December 31, 2012 to arrive at the information for FDC on a consolidated basis. | Equity earnings from consolidated subsidiaries | | | 435.1 | | | 375.9 | | | 120.8 | | | 121 | | | — | | | — | | | (555.9 | ) | | (496.9 | ) |
| (Loss) income before income taxes and equity earnings in affiliates | | | (1,031.8 | ) | | (996.5 | ) | | 512 | | | 419.3 | | | 305.6 | | | 304 | | | (555.9 | ) | | (496.9 | ) |
| | Three months ended September 30, 2013 | | | | | | | | | | | Income tax (benefit) expense | | | (509.9 | ) | | (474.6 | ) | | 234.5 | | | 199.8 | | | 23.1 | | | 22.5 | | | — | | | — | |
(in millions) | | FDC Parent | | Guarantor | | Non-Guarantor | | Consolidation | | Consolidated | | | | | | | | | | | Net (loss) income | | | (521.9 | ) | | (521.9 | ) | | 390.8 | | | 332.8 | | | 283.7 | | | 282.7 | | | (555.9 | ) | | (496.9 | ) |
Company | Subsidiaries | Subsidiaries | Adjustments | | | | | | | | | | Net (loss) income attributable to First Data Corporation | | | (521.9 | ) | | (521.9 | ) | | 390.8 | | | 332.8 | | | 239.8 | | | 238.8 | | | (630.6 | ) | | (571.6 | ) |
Revenues: | | | | | | | | | | | | | | | | | | | | | |
Transaction and processing service fees | | $ | — | | $ | 1,065.40 | | $ | 610.1 | | $ | (55.3 | ) | $ | 1,620.20 | | | | | | | | | | | |
Product sales and other | | — | | 143.3 | | 87.7 | | (15.5 | ) | 215.5 | | | | | | | | | | | |
Reimbursable debit network fees, postage and other | | — | | 631.5 | | 244.9 | | — | | 876.4 | | | | | | | | | | | |
| | — | | 1,840.20 | | 942.7 | | (70.8 | ) | 2,712.10 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | | | | Year ended December 31, 2011 | |
Cost of services (exclusive of items shown below) | | — | | 461.6 | | 302.3 | | (55.3 | ) | 708.6 | | | | | | | | | | | | | FDC Parent | | Guarantor | | Non-Guarantor | | Consolidation | |
Cost of products sold | | — | | 61.2 | | 35.2 | | (15.5 | ) | 80.9 | | | | | | | | | | | Company | Subsidiaries | Subsidiaries | Adjustments |
Selling, general and administrative | | 27 | | 302.2 | | 134.4 | | — | | 463.6 | | | | | | | | | | | (in millions) | | As | | As | | As | | As | | As | | As | | As | | As | |
Reimbursable debit network fees, postage and other | | — | | 631.5 | | 244.9 | | — | | 876.4 | | | | | | | | | | | previously | corrected | previously | corrected | previously | corrected | previously | corrected |
Depreciation and amortization | | 1.8 | | 162.9 | | 106.6 | | — | | 271.3 | | | | | | | | | | | reported | | reported | | reported | | reported | |
Other operating expenses: | | | | | | | | | | | | | | | | | | | | | Cost of services | | $ | — | | $ | — | | $ | 1,909.80 | | $ | 1,896.40 | | $ | 1,141.60 | | $ | 1,155.00 | | $ | (163.0 | ) | $ | (163.0 | ) |
Restructuring, net | | 3.2 | | 4.8 | | (0.2 | ) | — | | 7.8 | | | | | | | | | | | Selling, general and administrative | | | 259.7 | | | 107.8 | | | 957.8 | | | 1,095.40 | | | 476.2 | | | 490.5 | | | — | | | — | |
| | 32 | | 1,624.20 | | 823.2 | | (70.8 | ) | 2,408.60 | | | | | | | | | | | Operating (loss) profit | | | (264.9 | ) | | (113.0 | ) | | 698.8 | | | 574.6 | | | 507.6 | | | 479.9 | | | — | | | — | |
Operating (loss) profit | | (32.0 | ) | 216 | | 119.5 | | — | | 303.5 | | | | | | | | | | | Interest income (expense) from intercompany notes | | | 162.5 | | | 306.7 | | | (176.6 | ) | | (311.9 | ) | | 14.1 | | | 5.2 | | | — | | | — | |
Interest income | | — | | — | | 2.7 | | — | | 2.7 | | | | | | | | | | | Equity earnings from consolidated subsidiaries | | | 637.9 | | | 452.2 | | | 134.5 | | | 133.9 | | | — | | | — | | | (772.4 | ) | | (586.1 | ) |
Interest expense | | (464.5 | ) | (3.0 | ) | (1.5 | ) | — | | (469.0 | ) | | | | | | | | | | (Loss) income before income taxes and equity earnings in affiliates | | | (1,218.1 | ) | | (1,107.7 | ) | | 718.1 | | | 458 | | | 512.8 | | | 476.2 | | | (772.4 | ) | | (586.1 | ) |
Interest income (expense) from intercompany notes | | 79.2 | | (77.5 | ) | (1.7 | ) | — | | — | | | | | | | | | | | Income tax (benefit) expense | | | (702.0 | ) | | (591.6 | ) | | 341.3 | | | 243.4 | | | 90.6 | | | 78.1 | | | — | | | — | |
Other income (expense) | | (50.3 | ) | 2.3 | | 11.8 | | — | | (36.2 | ) | | | | | | | | | | Net (loss) income | | | (516.1 | ) | | (516.1 | ) | | 530.4 | | | 368.2 | | | 422 | | | 397.9 | | | (772.4 | ) | | (586.1 | ) |
Equity earnings from consolidated subsidiaries | | 157.2 | | 30.4 | | — | | (187.6 | ) | — | | | | | | | | | | | Net (loss) income attributable to First Data Corporation | | | (516.1 | ) | | (516.1 | ) | | 530.1 | | | 368.2 | | | 362.7 | | | 338.3 | | | (892.8 | ) | | (706.5 | ) |
| | (278.4 | ) | (47.8 | ) | 11.3 | | (187.6 | ) | (502.5 | ) | | | | | | | | | | |
(Loss) income before income taxes and equity earnings in affiliates | | (310.4 | ) | 168.2 | | 130.8 | | (187.6 | ) | (199.0 | ) | | | | | | | | | | |
Income tax (benefit) expense | | (90.9 | ) | 68.6 | | 50.9 | | — | | 28.6 | | | | | | | | | | | |
Equity earnings in affiliates | | — | | 47.3 | | — | | — | | 47.3 | | | | | | | | | | | |
Net (loss) income | | (219.5 | ) | 146.9 | | 79.9 | | (187.6 | ) | (180.3 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | | — | | — | | 14.2 | | 25 | | 39.2 | | | | | | | | | | | | | Year ended December 31, 2010 | |
Net (loss) income attributable to First Data Corporation | | $ | (219.5 | ) | $ | 146.9 | | $ | 65.7 | | $ | (212.6 | ) | $ | (219.5 | ) | | | | | | | | | | | | FDC Parent | | Guarantor | | Non-Guarantor | | Consolidation | |
Comprehensive (loss) income | | $ | (141.1 | ) | $ | 136.3 | | $ | 180.6 | | $ | (275.3 | ) | $ | (99.5 | ) | | | | | | | | | | Company | Subsidiaries | Subsidiaries | Adjustments |
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | | — | | — | | 16.6 | | 25 | | 41.6 | | | | | | | | | | | (in millions) | | As | | As | | As | | As | | As | | As | | As | | As | |
Comprehensive (loss) income attributable to First Data Corporation | | $ | (141.1 | ) | $ | 136.3 | | $ | 164 | | $ | (300.3 | ) | $ | (141.1 | ) | | | | | | | | | | previously | corrected | previously | corrected | previously | corrected | previously | corrected |
| reported | | reported | | reported | | reported | |
| | Nine months ended September 30, 2013 | | | | | | | | | | | Cost of Services | | $ | — | | $ | — | | $ | 1,944.30 | | $ | 1,949.60 | | $ | 1,227.50 | | $ | 1,222.20 | | $ | (148.5 | ) | $ | (148.5 | ) |
(in millions) | | FDC Parent | | Guarantor | | Non-Guarantor | | Consolidation | | Consolidated | | | | | | | | | | | Operating (loss) profit | | | (285.0 | ) | | (285.0 | ) | | 475.3 | | | 470 | | | 326.4 | | | 331.7 | | | — | | | — | |
Company | Subsidiaries | Subsidiaries | Adjustments | | | | | | | | | | Interest income (expense) from intercompany notes | | | 112.3 | | | 230.3 | | | (146.4 | ) | | (249.7 | ) | | 34.1 | | | 19.4 | | | — | | | — | |
Revenues: | | | | | | | | | | | | | | | | | | | | | Equity earnings from consolidated subsidiaries | | | 323.8 | | | 249.8 | | | 150.2 | | | 150.2 | | | — | | | — | | | (474.0 | ) | | (400.0 | ) |
Transaction and processing service fees | | $ | — | | $ | 3,132.30 | | $ | 1,826.60 | | $ | (166.4 | ) | $ | 4,792.50 | | | | | | | | | | | (Loss) income before income taxes and equity earnings in affiliates | | | (1,620.3 | ) | | (1,576.3 | ) | | 505.6 | | | 397 | | | 326.7 | | | 317.3 | | | (500.0 | ) | | (426.0 | ) |
Product sales and other | | — | | 409 | | 259 | | (45.2 | ) | 622.8 | | | | | | | | | | | Income tax (benefit) expense | | | (598.5 | ) | | (554.5 | ) | | 164.7 | | | 124.3 | | | 110 | | | 106.4 | | | — | | | — | |
Reimbursable debit network fees, postage and other | | — | | 1,869.50 | | 727 | | — | | 2,596.50 | | | | | | | | | | | Net (loss) income | | | (1,021.8 | ) | | (1,021.8 | ) | | 458.6 | | | 390.4 | | | 218.2 | | | 212.4 | | | (501.9 | ) | | (427.9 | ) |
| | — | | 5,410.80 | | 2,812.60 | | (211.6 | ) | 8,011.80 | | | | | | | | | | | Net (loss) income attributable to First Data Corporation | | | (1,021.8 | ) | | (1,021.8 | ) | | 458.8 | | | 390.4 | | | 168.9 | | | 163.3 | | | (627.7 | ) | | (553.7 | ) |
Expenses: | | | | | | | | | | | | | | | | | | | | | |
Cost of services (exclusive of items shown below) | | — | | 1,401.40 | | 884.2 | | (166.4 | ) | 2,119.20 | | | | | | | | | | | CONSOLIDATED BALANCE SHEETS |
Cost of products sold | | — | | 185 | | 107.1 | | (45.2 | ) | 246.9 | | | | | | | | | | | |
Selling, general and administrative | | 93.7 | | 923.4 | | 403 | | — | | 1,420.10 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Reimbursable debit network fees, postage and other | | — | | 1,869.50 | | 727 | | — | | 2,596.50 | | | | | | | | | | | | | As of December 31, 2011 | |
Depreciation and amortization | | 5.5 | | 490.5 | | 322.2 | | — | | 818.2 | | | | | | | | | | | | | FDC Parent Company | | Guarantor Subsidiaries | | Non-Guarantor | | Consolidation Adjustments | |
Other operating expenses: | | | | | | | | | | | | | | | | | | | | | Subsidiaries |
Restructuring, net | | 17.1 | | 24.8 | | 4.1 | | — | | 46 | | | | | | | | | | | (in millions) | | As previously | | As corrected | | As previously | | As corrected | | As previously | | As corrected | | As previously | | As corrected | |
| | 116.3 | | 4,894.60 | | 2,447.60 | | (211.6 | ) | 7,246.90 | | | | | | | | | | | reported | reported | reported | reported |
Operating (loss) profit | | (116.3 | ) | 516.2 | | 365 | | — | | 764.9 | | | | | | | | | | | ASSETS | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest income | | 0.1 | | 0.1 | | 7.8 | | — | | 8 | | | | | | | | | | | Current intercompany notes receivable | | $ | — | | $ | 12.2 | | $ | — | | $ | — | | $ | — | | $ | 86.1 | | $ | — | | $ | (98.3 | ) |
Interest expense | | (1,397.2 | ) | (7.6 | ) | (5.4 | ) | — | | (1,410.2 | ) | | | | | | | | | | Total current assets | | | 233.2 | | | 245.4 | | | 7,281.70 | | | 7,281.70 | | | 5,800.60 | | | 5,886.70 | | | — | | | (98.3 | ) |
Interest income (expense) from intercompany notes | | 236.3 | | (233.4 | ) | (2.9 | ) | — | | — | | | | | | | | | | | Goodwill | | | — | | | — | | | 9,510.50 | | | 9,430.90 | | | 7,694.10 | | | 7,773.70 | | | — | | | — | |
Other income (expense) | | (30.1 | ) | 4.9 | | 4.3 | | — | | (20.9 | ) | | | | | | | | | | Long-term intercompany receivables | | | — | | | — | | | — | | | 4,330.20 | | | — | | | 962.7 | | | — | | | (5,292.9 | ) |
Equity earnings from consolidated subsidiaries | | 371.1 | | 103.5 | | — | | (474.6 | ) | — | | | | | | | | | | | Long-term intercompany notes receivable | | | — | | | 3,229.40 | | | — | | | 251.5 | | | — | | | 59 | | | — | | | (3,539.9 | ) |
| | (819.8 | ) | (132.5 | ) | 3.8 | | (474.6 | ) | (1,423.1 | ) | | | | | | | | | | Investment in consolidated subsidiaries | | | 25,242.70 | | | 23,797.40 | | | 5,396.20 | | | 5,843.00 | | | — | | | — | | | (30,638.9 | ) | | (29,640.4 | ) |
(Loss) income before income taxes and equity earnings in affiliates | | (936.1 | ) | 383.7 | | 368.8 | | (474.6 | ) | (658.2 | ) | | | | | | | | | | Total assets | | | 26,579.80 | | | 28,376.10 | | | 27,676.10 | | | 32,625.00 | | | 16,659.30 | | | 17,846.70 | | | (30,638.9 | ) | | (38,571.5 | ) |
Income tax (benefit) expense | | (190.1 | ) | 185 | | 106.8 | | — | | 101.7 | | | | | | | | | | | LIABILITIES AND EQUITY | | | | | | | | | | | | | | | | | | | | | | | | | |
Equity earnings in affiliates | | — | | 135.4 | | 0.6 | | — | | 136 | | | | | | | | | | | Current intercompany notes payable | | | — | | | 62.5 | | | — | | | 35.8 | | | — | | | — | | | — | | | (98.3 | ) |
Net (loss) income | | (746.0 | ) | 334.1 | | 262.6 | | (474.6 | ) | (623.9 | ) | | | | | | | | | | Total current liabilities | | | 697.9 | | | 760.4 | | | 6,790.70 | | | 6,826.50 | | | 5,331.60 | | | 5,331.60 | | | — | | | (98.3 | ) |
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | | — | | — | | 39.3 | | 82.8 | | 122.1 | | | | | | | | | | | Long-term intercompany payables | | | 5,707.00 | | | 5,292.90 | | | (4,618.7 | ) | | — | | | (1,088.3 | ) | | — | | | — | | | (5,292.9 | ) |
Net (loss) income attributable to First Data Corporation | | $ | (746.0 | ) | $ | 334.1 | | $ | 223.3 | | $ | (557.4 | ) | $ | (746.0 | ) | | | | | | | | | | Long-term intercompany notes payable | | | (1,887.3 | ) | | 260.6 | | | 1,949.90 | | | 3,196.80 | | | (62.6 | ) | | 82.5 | | | — | | | (3.539.9 | ) |
Comprehensive (loss) income | | $ | (810.2 | ) | $ | 285.2 | | $ | 200.2 | | $ | (362.9 | ) | $ | (687.7 | ) | | | | | | | | | | Total liabilities | | | 26,483.20 | | | 28,279.50 | | | 5,968.50 | | | 11,869.90 | | | 4,349.20 | | | 5,582.60 | | | — | | | (8,931.1 | ) |
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | | — | | — | | 39.7 | | 82.8 | | 122.5 | | | | | | | | | | | First Data Corporation stockholder's equity | | | 96.6 | | | 96.6 | | | 21,707.50 | | | 20,755.10 | | | 5,580.50 | | | 5,534.40 | | | (27,288.0 | ) | | (26,289.5 | ) |
Comprehensive (loss) income attributable to First Data Corporation | | $ | (810.2 | ) | $ | 285.2 | | $ | 160.5 | | $ | (445.7 | ) | $ | (810.2 | ) | | | | | | | | | | Total equity | | | 96.6 | | | 96.6 | | | 21,707.60 | | | 20,755.10 | | | 12,242.70 | | | 12,196.70 | | | (30,638.9 | ) | | (29,640.4 | ) |
| Total liabilities and equity | | | 26,579.80 | | | 28,376.10 | | | 27,676.10 | | | 32,625.00 | | | 16,659.30 | | | 17,846.70 | | | (30,638.9 | ) | | (38,571.5 | ) |
| | Three months ended September 30, 2012 | | | | | | | | | | | |
(as corrected) | | | | | | | | | | |
(in millions) | | FDC Parent | | Guarantor | | Non-Guarantor | | Consolidation | | Consolidated | | | | | | | | | | | CONSOLIDATED STATEMENTS OF CASH FLOWS |
Company | Subsidiaries | Subsidiaries | Adjustments | | | | | | | | | | |
Revenues: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Transaction and processing service fees | | $ | — | | $ | 1,051.20 | | $ | 608.8 | | $ | (47.9 | ) | $ | 1,612.10 | | | | | | | | | | | | | For the nine months ended September 30, 2012 | |
Product sales and other | | — | | 144.6 | | 88.2 | | (15.3 | ) | 217.5 | | | | | | | | | | | | | FDC Parent Company | | Guarantor Subsidiaries | | Non-Guarantor | | Consolidation Adjustments | |
Reimbursable debit network fees, postage and other | | — | | 610.7 | | 234.9 | | (1.2 | ) | 844.4 | | | | | | | | | | | Subsidiaries |
| | — | | 1,806.50 | | 931.9 | | (64.4 | ) | 2,674.00 | | | | | | | | | | | (in millions) | | As previously | | As corrected | | As previously | | As corrected | | As previously | | As corrected | | As previously | | As corrected | |
Expenses: | | | | | | | | | | | | | | | | | | | | | Source/(use) | reported | reported | reported | reported |
Cost of services (exclusive of items shown below) | | — | | 494.4 | | 282.5 | | (47.9 | ) | 729 | | | | | | | | | | | CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
Cost of products sold | | — | | 62.2 | | 33.2 | | (15.3 | ) | 80.1 | | | | | | | | | | | Net (loss) income | | $ | (521.9 | ) | $ | (521.9 | ) | $ | 390.8 | | $ | 332.8 | | $ | 283.7 | | $ | 282.7 | | $ | (555.9 | ) | $ | (496.9 | ) |
Selling, general and administrative | | 44.7 | | 293.5 | | 129.7 | | — | | 467.9 | | | | | | | | | | | Other non-cash and non-operating items, net | | | (405.3 | ) | | (346.1 | ) | | (193.9 | ) | | (194.1 | ) | | 5.5 | | | 5.5 | | | 555.9 | | | 496.9 | |
Reimbursable debit network fees, postage and other | | — | | 610.7 | | 234.9 | | (1.2 | ) | 844.4 | | | | | | | | | | | (Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | | | (519.1 | ) | | (483.8 | ) | | 381.9 | | | 347.2 | | | 0.3 | | | (0.3 | ) | | — | | | — | |
Depreciation and amortization | | 1.9 | | 175.3 | | 116.3 | | — | | 293.5 | | | | | | | | | | | Net cash (used in) provided by operating activities | | | (1,361.8 | ) | | (1,267.3 | ) | | 1,238.10 | | | 1,145.20 | | | 661.9 | | | 660.3 | | | — | | | — | |
Other operating expenses: | | | | | | | | | | | | | | | | | | | | | CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
Restructuring, net | | — | | 5.7 | | 1.5 | | — | | 7.2 | | | | | | | | | | | Intercompany | | | 1,231.60 | | | 1,137.10 | | | (1,191.1 | ) | | (1,098.2 | ) | | (40.5 | ) | | (38.9 | ) | | — | | | — | |
| | 46.6 | | 1,641.80 | | 798.1 | | (64.4 | ) | 2,422.10 | | | | | | | | | | | Net cash provided by (used in) financing activities | | | 1,243.10 | | | 1,148.60 | | | (1,222.2 | ) | | (1,129.3 | ) | | (550.3 | ) | | (548.7 | ) | | 248.6 | | | 248.6 | |
Operating (loss) profit | | (46.6 | ) | 164.7 | | 133.8 | | — | | 251.9 | | | | | | | | | | | |
Interest income | | — | | — | | 2.1 | | — | | 2.1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense | | (483.8 | ) | (2.3 | ) | (2.5 | ) | — | | (488.6 | ) | | | | | | | | | | | | Year ended December 31, 2011 | |
Interest income (expense) from intercompany notes | | 78.1 | | (80.0 | ) | 1.9 | | — | | — | | | | | | | | | | | | | FDC Parent Company | | Guarantor Subsidiaries | | Non-Guarantor | | Consolidation Adjustments | |
Other income (expense) | | (53.8 | ) | (8.7 | ) | 10.5 | | — | | (52.0 | ) | | | | | | | | | | Subsidiaries |
Equity earnings from consolidated subsidiaries | | 128.5 | | 39.6 | | — | | (168.1 | ) | — | | | | | | | | | | | (in millions) | | As previously | | As corrected | | As previously | | As corrected | | As previously | | As corrected | | As previously | | As corrected | |
| | (331.0 | ) | (51.4 | ) | 12 | | (168.1 | ) | (538.5 | ) | | | | | | | | | | Source/(use) | reported | reported | reported | reported |
(Loss) income before income taxes and equity earnings in affiliates | | (377.6 | ) | 113.3 | | 145.8 | | (168.1 | ) | (286.6 | ) | | | | | | | | | | CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
Income tax (benefit) expense | | (165.6 | ) | 67.5 | | 28.7 | | — | | (69.4 | ) | | | | | | | | | | Net (loss) income | | $ | (516.1 | ) | $ | (516.1 | ) | $ | 530.4 | | $ | 368.2 | | $ | 422 | | $ | 397.9 | | $ | (772.4 | ) | $ | (586.1 | ) |
Equity earnings in affiliates | | — | | 42.7 | | 0.3 | | — | | 43 | | | | | | | | | | | Other non-cash and non-operating items, net | | | (546.0 | ) | | (360.3 | ) | | (210.1 | ) | | (209.5 | ) | | 11.4 | | | 11.4 | | | 772.4 | | | 586.1 | |
Net (loss) income | | (212.0 | ) | 88.5 | | 117.4 | | (168.1 | ) | (174.2 | ) | | | | | | | | | | (Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | | | (437.4 | ) | | (327.0 | ) | | 481.7 | | | 383.8 | | | 113.2 | | | 100.7 | | | — | | | — | |
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interests | | — | | — | | 14.9 | | 22.9 | | 37.8 | | | | | | | | | | | Net cash (used in) provided by operating activities | | | (1,550.8 | ) | | (1,254.7 | ) | | 1,584.10 | | | 1,324.60 | | | 1,082.30 | | | 1,045.70 | | | — | | | — | |
Net (loss) income attributable to First Data Corporation | | $ | (212.0 | ) | $ | 88.5 | | $ | 102.5 | | $ | (191.0 | ) | $ | (212.0 | ) | | | | | | | | | | CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive (loss) income | | $ | (96.4 | ) | $ | 109.9 | | $ | 209 | | $ | (277.6 | ) | $ | (55.1 | ) | | | | | | | | | | Intercompany | | | 1,516.60 | | | 1,220.50 | | | (1,375.9 | ) | | (1,116.4 | ) | | (140.7 | ) | | (104.1 | ) | | — | | | — | |
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | | — | | — | | 18.4 | | 22.9 | | 41.3 | | | | | | | | | | | Net cash provided by (used in) financing activities | | | 1,443.30 | | | 1,147.20 | | | (1,426.1 | ) | | (1,166.6 | ) | | (985.9 | ) | | (949.3 | ) | | 404.2 | | | 404.2 | |
Comprehensive (loss) income attributable to First Data Corporation | | $ | (96.4 | ) | $ | 109.9 | | $ | 190.6 | | $ | (300.5 | ) | $ | (96.4 | ) | | | | | | | | | | |
| |
| | Nine months ended September 30, 2012 | | | | | | | | | | | |
(as corrected) | | | | | | | | | | |
(in millions) | | FDC Parent | | Guarantor | | Non-Guarantor | | Consolidation | | Consolidated | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Company | Subsidiaries | Subsidiaries | Adjustments | | | | | | | | | | | | Year ended December 31, 2010 | |
Revenues: | | | | | | | | | | | | | | | | | | | | | | | FDC Parent Company | | Guarantor Subsidiaries | | Non-Guarantor | | Consolidation Adjustments | |
Transaction and processing service fees | | $ | — | | $ | 3,112.50 | | $ | 1,818.30 | | $ | (143.2 | ) | $ | 4,787.60 | | | | | | | | | | | Subsidiaries |
Product sales and other | | — | | 423.9 | | 258.5 | | (44.5 | ) | 637.9 | | | | | | | | | | | (in millions) | | As previously | | As corrected | | As previously | | As corrected | | As previously | | As corrected | | As previously | | As corrected | |
Reimbursable debit network fees, postage and other | | — | | 1,816.20 | | 704.4 | | (22.6 | ) | 2,498.00 | | | | | | | | | | | Source/(use) | reported | reported | reported | reported |
| | — | | 5,352.60 | | 2,781.20 | | (210.3 | ) | 7,923.50 | | | | | | | | | | | CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
Expenses: | | | | | | | | | | | | | | | | | | | | | Net (loss) income | | $ | (1,021.8 | ) | $ | (1.021.8 | ) | $ | 458.6 | | $ | 390.4 | | $ | 218.2 | | $ | 212.4 | | $ | (501.9 | ) | $ | (427.9 | ) |
Cost of services (exclusive of items shown below) | | — | | 1,361.10 | | 919.9 | | (143.2 | ) | 2,137.80 | | | | | | | | | | | Other non-cash and non-operating items, net | | | (11.6 | ) | | 62.4 | | | (207.4 | ) | | (207.4 | ) | | 8.8 | | | 8.8 | | | 475.8 | | | 401.8 | |
Cost of products sold | | — | | 192.1 | | 103.7 | | (44.5 | ) | 251.3 | | | | | | | | | | | (Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | | | (608.4 | ) | | (564.4 | ) | | 107 | | | 66.6 | | | 216.9 | | | 213.3 | | | (2.9 | ) | | (2.9 | ) |
Selling, general and administrative | | 105.6 | | 877.2 | | 390.5 | | — | | 1,373.30 | | | | | | | | | | | Net cash (used in) provided by operating activities | | | (1,624.3 | ) | | (1,506.3 | ) | | 1,415.10 | | | 1,306.50 | | | 966.9 | | | 957.5 | | | (3.0 | ) | | (3.0 | ) |
Reimbursable debit network fees, postage and other | | — | | 1,816.20 | | 704.4 | | (22.6 | ) | 2,498.00 | | | | | | | | | | | CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
Depreciation and amortization | | 6 | | 541.4 | | 349.7 | | — | | 897.1 | | | | | | | | | | | Intercompany | | | 1,682.50 | | | 1,564.50 | | | (1,454.7 | ) | | (1,346.1 | ) | | (227.8 | ) | | (218.4 | ) | | — | | | — | |
Other operating expenses: | | | | | | | | | | | | | | | | | | | | | Net cash provided by (used in) financing activities | | | 1,460.10 | | | 1,342.10 | | | (1,511.7 | ) | | (1,403.1 | ) | | (1,152.9 | ) | | (1,143.5 | ) | | 551.2 | | | 551.2 | |
Restructuring, net | | (0.2 | ) | 7.3 | | 17 | | — | | 24.1 | | | | | | | | | | | |
Impairments | | — | | 5.1 | | — | | — | | 5.1 | | | | | | | | | | | As previously reported represents amounts reported in the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 or Annual Report on Form 10-K for the year ended December 31, 2011. |
| | 111.4 | | 4,800.40 | | 2,485.20 | | (210.3 | ) | 7,186.70 | | | | | | | | | | | |
Operating (loss) profit | | (111.4 | ) | 552.2 | | 296 | | — | | 736.8 | | | | | | | | | | | The following tables present the results of operations, financial position and cash flows of FDC ("FDC Parent Company"), the Guarantor subsidiaries, the Non-Guarantor subsidiaries and consolidation adjustments for the years ended December 31, 2012, 2011 and 2010 and as of December 31, 2012 and 2011 to arrive at the information for FDC on a consolidated basis. |
Interest income | | 0.1 | | 0.3 | | 5.9 | | — | | 6.3 | | | | | | | | | | | |
Interest expense | | (1,416.8 | ) | (5.7 | ) | (7.9 | ) | — | | (1,430.4 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest income (expense) from intercompany notes | | 234.4 | | (240.0 | ) | 5.6 | | — | | — | | | | | | | | | | | | | Year ended December 31, 2012 | | | | | | | | | | |
Other income (expense) | | (78.7 | ) | (8.5 | ) | 4.4 | | — | | (82.8 | ) | | | | | | | | | | (in millions) | | FDC Parent | | Guarantor | | Non- | | Consolidation | | Consolidated | | | | | | | | | | |
Equity earnings from consolidated subsidiaries | | 375.9 | | 121 | | — | | (496.9 | ) | — | | | | | | | | | | | Company | Subsidiaries | Guarantor | Adjustments | | | | | | | | | |
| | (885.1 | ) | (132.9 | ) | 8 | | (496.9 | ) | (1,506.9 | ) | | | | | | | | | | | | Subsidiaries | | | | | | | | | | |
(Loss) income before income taxes and equity earnings in affiliates | | (996.5 | ) | 419.3 | | 304 | | (496.9 | ) | (770.1 | ) | | | | | | | | | | Revenues: | | | | | | | | | | | | | | | | | | | | | | | | | |
Income tax (benefit) expense | | (474.6 | ) | 199.8 | | 22.5 | | — | | (252.3 | ) | | | | | | | | | | Transaction and processing service fees | | $ | — | | $ | 4,180.50 | | $ | 2,471.80 | | $ | (200.2 | ) | $ | 6,452.10 | | | | | | | | | | |
Equity earnings in affiliates | | — | | 113.3 | | 1.2 | | — | | 114.5 | | | | | | | | | | | Product sales and other | | | — | | | 569.8 | | | 355.8 | | | (58.9 | ) | | 866.7 | | | | | | | | | | |
Net (loss) income | | (521.9 | ) | 332.8 | | 282.7 | | (496.9 | ) | (403.3 | ) | | | | | | | | | | Reimbursable debit network fees, postage and other | | | — | | | 2,430.30 | | | 953.8 | | | (22.6 | ) | | 3,361.50 | | | | | | | | | | |
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interests | | — | | — | | 43.9 | | 74.7 | | 118.6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net (loss) income attributable to First Data Corporation | | $ | (521.9 | ) | $ | 332.8 | | $ | 238.8 | | $ | (571.6 | ) | $ | (521.9 | ) | | | | | | | | | | | | | — | | | 7,180.60 | | | 3,781.40 | | | (281.7 | ) | | 10,680.30 | | | | | | | | | | |
Comprehensive (loss) income | | $ | (446.1 | ) | $ | 348 | | $ | 279.6 | | $ | (508.5 | ) | $ | (327.0 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | | — | | — | | 44.4 | | 74.7 | | 119.1 | | | | | | | | | | | Expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive (loss) income attributable to First Data Corporation | | $ | (446.1 | ) | $ | 348 | | $ | 235.2 | | $ | (583.2 | ) | $ | (446.1 | ) | | | | | | | | | | Cost of services (exclusive of items shown below) | | | — | | | 1,829.60 | | | 1,234.10 | | | (200.2 | ) | | 2,863.50 | | | | | | | | | | |
| Cost of products sold | | | — | | | 252.9 | | | 142.3 | | | (58.9 | ) | | 336.3 | | | | | | | | | | |
| | As of September 30, 2013 | | | | | | | | | | | Selling, general and administrative | | | 89.4 | | | 1,217.30 | | | 518.7 | | | — | | | 1,825.40 | | | | | | | | | | |
(in millions) | | FDC Parent | | Guarantor | | Non-Guarantor | | Consolidation | | Consolidated | | | | | | | | | | | Reimbursable debit network fees, postage and other | | | — | | | 2,430.30 | | | 953.8 | | | (22.6 | ) | | 3,361.50 | | | | | | | | | | |
Company | Subsidiaries | Subsidiaries | Adjustments | | | | | | | | | | Depreciation and amortization | | | 8.1 | | | 718.9 | | | 464.6 | | | — | | | 1,191.60 | | | | | | | | | | |
ASSETS | | | | | | | | | | | | | | | | | | | | | Other operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | | | | | Restructuring, net | | | (0.2 | ) | | 7.6 | | | 15.7 | | | — | | | 23.1 | | | | | | | | | | |
Cash and cash equivalents | | $ | 6.8 | | $ | 32.2 | | $ | 319.6 | | $ | — | | $ | 358.6 | | | | | | | | | | | Impairments | | | — | | | 5.1 | | | — | | | — | | | 5.1 | | | | | | | | | | |
Accounts receivable, net of allowance for doubtful accounts | | 6.3 | | 792.4 | | 833.6 | | — | | 1,632.30 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Settlement assets (a) | | — | | 4,858.00 | | 4,323.70 | | — | | 9,181.70 | | | | | | | | | | | | | | 97.3 | | | 6,461.70 | | | 3,329.20 | | | (281.7 | ) | | 9,606.50 | | | | | | | | | | |
Intercompany notes receivable | | 12.5 | | — | | 22.6 | | (35.1 | ) | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Other current assets | | 71 | | 205.9 | | 74.8 | | — | | 351.7 | | | | | | | | | | | Operating (loss) profit | | | (97.3 | ) | | 718.9 | | | 452.2 | | | — | | | 1,073.80 | | | | | | | | | | |
Total current assets | | 96.6 | | 5,888.50 | | 5,574.30 | | (35.1 | ) | 11,524.30 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Property and equipment, net of accumulated depreciation | | 28.4 | | 592.8 | | 245.7 | | — | | 866.9 | | | | | | | | | | | Interest income | | | 0.1 | | | 0.3 | | | 8.4 | | | — | | | 8.8 | | | | | | | | | | |
Goodwill | | — | | 9,483.90 | | 7,748.10 | | — | | 17,232.00 | | | | | | | | | | | Interest expense | | | (1,880.4 | ) | | (7.3 | ) | | (10.1 | ) | | — | | | (1,897.8 | ) | | | | | | | | | |
Customer relationships, net of accumulated amortization | | — | | 1,838.60 | | 1,484.00 | | — | | 3,322.60 | | | | | | | | | | | Interest income (expense) from intercompany notes | | | 313 | | | (320.0 | ) | | 7 | | | — | | | — | | | | | | | | | | |
Other intangibles, net of accumulated amortization | | 604.5 | | 556.2 | | 566.2 | | — | | 1,726.90 | | | | | | | | | | | Other income (expense) | | | (102.1 | ) | | (8.1 | ) | | 15.9 | | | — | | | (94.3 | ) | | | | | | | | | |
Investment in affiliates | | — | | 1,308.50 | | 30.2 | | — | | 1,338.70 | | | | | | | | | | | Equity earnings from consolidated subsidiaries | | | 522.6 | | | 179.7 | | | — | | | (702.3 | ) | | — | | | | | | | | | | |
Long-term settlement assets (a) | | — | | — | | 18.6 | | — | | 18.6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Long-term intercompany receivables | | — | | 6,336.90 | | 1,296.40 | | (7,633.3 | ) | — | | | | | | | | | | | | | | (1,146.8 | ) | | (155.4 | ) | | 21.2 | | | (702.3 | ) | | (1,983.3 | ) | | | | | | | | | |
Long-term intercompany notes receivable | | 3,496.60 | | 284.1 | | 0.4 | | (3,781.1 | ) | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Long-term deferred tax assets | | 930.9 | | — | | — | | (930.9 | ) | — | | | | | | | | | | | (Loss) income before income taxes and equity earnings in affiliates | | | (1,244.1 | ) | | 563.5 | | | 473.4 | | | (702.3 | ) | | (909.5 | ) | | | | | | | | | |
Other long-term assets | | 373.5 | | 405.2 | | 144.4 | | (109.4 | ) | 813.7 | | | | | | | | | | | Income tax (benefit) expense | | | (543.2 | ) | | 273.7 | | | 45.5 | | | — | | | (224.0 | ) | | | | | | | | | |
Investment in consolidated subsidiaries | | 24,665.80 | | 5,312.60 | | — | | (29,978.4 | ) | — | | | | | | | | | | | Equity earnings in affiliates | | | — | | | 157.4 | | | 0.8 | | | — | | | 158.2 | | | | | | | | | | |
Total assets | | $ | 30,196.30 | | $ | 32,007.30 | | $ | 17,108.30 | | $ | (42,468.2 | ) | $ | 36,843.70 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
LIABILITIES AND EQUITY | | | | | | | | | | | | | | | | | | | | | Net (loss) income | | | (700.9 | ) | | 447.2 | | | 428.7 | | | (702.3 | ) | | (527.3 | ) | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | | Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | | | — | | | — | | | 61.9 | | | 111.7 | | | 173.6 | | | | | | | | | | |
Accounts payable | | $ | 5.2 | | $ | 171.1 | | $ | 78.3 | | $ | — | | $ | 254.6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Short-term and current portion of long-term borrowings | | 95.5 | | 65.7 | | 87.1 | | — | | 248.3 | | | | | | | | | | | Net (loss) income attributable to First Data Corporation | | $ | (700.9 | ) | $ | 447.2 | | $ | 366.8 | | $ | (814.0 | ) | $ | (700.9 | ) | | | | | | | | | |
Settlement obligations (a) | | — | | 4,858.00 | | 4,339.60 | | — | | 9,197.60 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Intercompany notes payable | | 22.7 | | 12.5 | | — | | (35.2 | ) | — | | | | | | | | | | | Comprehensive (loss) income | | $ | (654.7 | ) | $ | 448.6 | | $ | 421.5 | | $ | (693.2 | ) | $ | (477.8 | ) | | | | | | | | | |
Other current liabilities | | 471 | | 567.8 | | 332.3 | | — | | 1,371.10 | | | | | | | | | | | Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | | | — | | | — | | | 65.2 | | | 111.7 | | | 176.9 | | | | | | | | | | |
Total current liabilities | | 594.4 | | 5,675.10 | | 4,837.30 | | (35.2 | ) | 11,071.60 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Long-term borrowings | | 22,460.90 | | 91.7 | | 12.5 | | — | | 22,565.10 | | | | | | | | | | | Comprehensive (loss) income attributable to First Data Corporation | | $ | (654.7 | ) | $ | 448.6 | | $ | 356.3 | | $ | (804.9 | ) | $ | (654.7 | ) | | | | | | | | | |
Long-term deferred tax liabilities | | — | | 1,291.50 | | 192.5 | | (930.9 | ) | 553.1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Long-term intercompany payables | | 7,633.30 | | — | | — | | (7,633.3 | ) | — | | | | | | | | | | | |
Long-term intercompany notes payable | | 286.1 | | 3,413.00 | | 81.9 | | (3,781.0 | ) | — | | | | | | | | | | | |
Other long-term liabilities | | 617.2 | | 226.6 | | 51.7 | | (109.4 | ) | 786.1 | | | | | | | | | | | |
Total liabilities | | 31,591.90 | | 10,697.90 | | 5,175.90 | | (12,489.8 | ) | 34,975.90 | | | | | | | | | | | |
Redeemable equity interest | | — | | — | | 67.9 | | (67.9 | ) | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Redeemable noncontrolling interest | | — | | — | | — | | 67.9 | | 67.9 | | | | | | | | | | | | | Year ended December 31, 2011 | | | | | | | | | | |
First Data Corporation stockholder’s (deficit) equity | | (1,395.6 | ) | 21,309.40 | | 5,457.10 | | (26,766.5 | ) | (1,395.6 | ) | | | | | | | | | | (As Corrected) | | | | | | | | | |
Noncontrolling interests | | — | | — | | 84.2 | | 3,111.30 | | 3,195.50 | | | | | | | | | | | (in millions) | | FDC Parent | | Guarantor | | Non- | | Consolidation | | Consolidated | | | | | | | | | | |
Equity of consolidated alliance | | — | | — | | 6,323.20 | | (6,323.2 | ) | — | | | | | | | | | | | Company | Subsidiaries | Guarantor | Adjustments | | | | | | | | | |
Total equity | | (1,395.6 | ) | 21,309.40 | | 11,864.50 | | (29,978.4 | ) | 1,799.90 | | | | | | | | | | | | | Subsidiaries | | | | | | | | | | |
Total liabilities and equity | | $ | 30,196.30 | | $ | 32,007.30 | | $ | 17,108.30 | | $ | (42,468.2 | ) | $ | 36,843.70 | | | | | | | | | | | Revenues: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Transaction and processing service fees | | $ | — | | $ | 4,055.90 | | $ | 2,437.10 | | $ | (163.0 | ) | $ | 6,330.00 | | | | | | | | | | |
| | As of December 31, 2012 | | | | | | | | | | | Product sales and other | | | — | | | 551.4 | | | 358.2 | | | (57.5 | ) | | 852.1 | | | | | | | | | | |
(in millions) | | FDC Parent | | Guarantor | | Non- | | Consolidation | | Consolidated | | | | | | | | | | | Reimbursable debit network fees, postage and other | | | — | | | 2,445.00 | | | 1,159.10 | | | (72.6 | ) | | 3,531.50 | | | | | | | | | | |
Company | Subsidiaries | Guarantor | Adjustments | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Subsidiaries | | | | | | | | | | | | | | — | | | 7,052.30 | | | 3,954.40 | | | (293.1 | ) | | 10,713.60 | | | | | | | | | | |
ASSETS | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | | | | | Expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 228 | | $ | 37.2 | | $ | 343.1 | | $ | — | | $ | 608.3 | | | | | | | | | | | Cost of services (exclusive of items shown below) | | | — | | | 1,896.40 | | | 1,155.00 | | | (163.0 | ) | | 2,888.40 | | | | | | | | | | |
Accounts receivable, net of allowance for doubtful accounts | | 4.4 | | 879.7 | | 963.6 | | — | | 1,847.70 | | | | | | | | | | | Cost of products sold | | | — | | | 274.7 | | | 152.4 | | | (57.5 | ) | | 369.6 | | | | | | | | | | |
Settlement assets (a) | | — | | 5,097.10 | | 4,076.70 | | — | | 9,173.80 | | | | | | | | | | | Selling, general and administrative | | | 107.8 | | | 1,095.40 | | | 490.5 | | | — | | | 1,693.70 | | | | | | | | | | |
Intercompany notes receivable | | — | | — | | 30.8 | | (30.8 | ) | — | | | | | | | | | | | Reimbursable debit network fees, postage and other | | | — | | | 2,445.00 | | | 1,159.10 | | | (72.6 | ) | | 3,531.50 | | | | | | | | | | |
Other current assets | | 73 | | 145.3 | | 35.3 | | — | | 253.6 | | | | | | | | | | | Depreciation and amortization | | | 8.3 | | | 743.1 | | | 493.6 | | | — | | | 1,245.00 | | | | | | | | | | |
Total current assets | | 305.4 | | 6,159.30 | | 5,449.50 | | (30.8 | ) | 11,883.40 | | | | | | | | | | | Other operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Property and equipment, net of accumulated depreciation | | 30.7 | | 561.4 | | 263.7 | | — | | 855.8 | | | | | | | | | | | Restructuring, net | | | (0.6 | ) | | 23.1 | | | 23.9 | | | — | | | 46.4 | | | | | | | | | | |
Goodwill | | — | | 9,485.30 | | 7,797.20 | | — | | 17,282.50 | | | | | | | | | | | Litigation and regulatory settlements | | | (2.5 | ) | | — | | | — | | | — | | | (2.5 | ) | | | | | | | | | |
Customer relationships, net of accumulated amortization | | — | | 2,071.70 | | 1,684.60 | | — | | 3,756.30 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Other intangibles, net of accumulated amortization | | 605 | | 619.7 | | 603.9 | | — | | 1,828.60 | | | | | | | | | | | | | | 113 | | | 6,477.70 | | | 3,474.50 | | | (293.1 | ) | | 9,772.10 | | | | | | | | | | |
Investment in affiliates | | — | | 1,375.20 | | 37.9 | | — | | 1,413.10 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Long-term settlement assets (a) | | — | | — | | 54.3 | | — | | 54.3 | | | | | | | | | | | Operating (loss) profit | | | (113.0 | ) | | 574.6 | | | 479.9 | | | — | | | 941.5 | | | | | | | | | | |
Long-term intercompany receivables | | — | | 5,501.30 | | 1,141.10 | | (6,642.4 | ) | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Long-term intercompany notes receivable | | 3,397.30 | | 270 | | 8.4 | | (3,675.7 | ) | — | | | | | | | | | | | Interest income | | | 0.3 | | | 0.6 | | | 7 | | | — | | | 7.9 | | | | | | | | | | |
Long-term deferred tax assets | | 1,028.00 | | — | | — | | (1,028.0 | ) | — | | | | | | | | | | | Interest expense | | | (1,812.9 | ) | | (7.6 | ) | | (12.6 | ) | | — | | | (1,833.1 | ) | | | | | | | | | |
Other long-term assets | | 427.1 | | 373.5 | | 108.2 | | (83.8 | ) | 825 | | | | | | | | | | | Interest income (expense) from intercompany notes | | | 306.7 | | | (311.9 | ) | | 5.2 | | | — | | | — | | | | | | | | | | |
Investment in consolidated subsidiaries | | 24,308.90 | | 5,379.50 | | — | | (29,688.4 | ) | — | | | | | | | | | | | Other income (expense) | | | 59 | | | 68.4 | | | (3.3 | ) | | — | | | 124.1 | | | | | | | | | | |
Total assets | | $ | 30,102.40 | | $ | 31,796.90 | | $ | 17,148.80 | | $ | (41,149.1 | ) | $ | 37,899.00 | | | | | | | | | | | Equity earnings from consolidated subsidiaries | | | 452.2 | | | 133.9 | | | — | | | (586.1 | ) | | — | | | | | | | | | | |
LIABILITIES AND EQUITY | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | | | | | (994.7 | ) | | (116.6 | ) | | (3.7 | ) | | (586.1 | ) | | (1,701.1 | ) | | | | | | | | | |
Accounts payable | | $ | 13.8 | | $ | 141.8 | | $ | 105.3 | | $ | — | | $ | 260.9 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Short-term and current portion of long-term borrowings | | 15.1 | | 55.1 | | 186.9 | | — | | 257.1 | | | | | | | | | | | (Loss) income before income taxes and equity earnings in affiliates | | | (1,107.7 | ) | | 458 | | | 476.2 | | | (586.1 | ) | | (759.6 | ) | | | | | | | | | |
Settlement obligations (a) | | — | | 5,097.10 | | 4,129.20 | | — | | 9,226.30 | | | | | | | | | | | Income tax (benefit) expense | | | (591.6 | ) | | 243.4 | | | 78.1 | | | — | | | (270.1 | ) | | | | | | | | | |
Intercompany notes payable | | 30.8 | | — | | — | | (30.8 | ) | — | | | | | | | | | | | Equity earnings in affiliates | | | — | | | 153.6 | | | (0.2 | ) | | — | | | 153.4 | | | | | | | | | | |
Other current liabilities | | 608.1 | | 620.3 | | 372.2 | | — | | 1,600.60 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | 667.8 | | 5,914.30 | | 4,793.60 | | (30.8 | ) | 11,344.90 | | | | | | | | | | | Net (loss) income | | | (516.1 | ) | | 368.2 | | | 397.9 | | | (586.1 | ) | | (336.1 | ) | | | | | | | | | |
Long-term borrowings | | 22,462.30 | | 47.8 | | 18.8 | | — | | 22,528.90 | | | | | | | | | | | Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | | | — | | | — | | | 59.6 | | | 120.4 | | | 180 | | | | | | | | | | |
Long-term deferred tax liabilities | | — | | 1,445.10 | | 92.4 | | (1,028.0 | ) | 509.5 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Long-term intercompany payables | | 6,642.40 | | — | | — | | (6,642.4 | ) | — | | | | | | | | | | | Net (loss) income attributable to First Data Corporation | | $ | (516.1 | ) | $ | 368.2 | | $ | 338.3 | | $ | (706.5 | ) | $ | (516.1 | ) | | | | | | | | | |
Long-term intercompany notes payable | | 276.7 | | 3,315.60 | | 83.4 | | (3,675.7 | ) | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Other long-term liabilities | | 651.7 | | 222.7 | | 31.3 | | (83.8 | ) | 821.9 | | | | | | | | | | | Comprehensive (loss) income | | | (477.6 | ) | | 418.2 | | | 319 | | | (564.1 | ) | | (304.5 | ) | | | | | | | | | |
Total liabilities | | 30,700.90 | | 10,945.50 | | 5,019.50 | | (11,460.7 | ) | 35,205.20 | | | | | | | | | | | Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | | | — | | | — | | | 52.7 | | | 120.4 | | | 173.1 | | | | | | | | | | |
Redeemable equity interest | | — | | — | | 67.4 | | (67.4 | ) | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Redeemable noncontrolling interest | | — | | — | | — | | 67.4 | | 67.4 | | | | | | | | | | | Comprehensive (loss) income attributable to First Data Corporation | | $ | (477.6 | ) | $ | 418.2 | | $ | 266.3 | | $ | (684.5 | ) | $ | (477.6 | ) | | | | | | | | | |
First Data Corporation stockholder’s (deficit) equity | | (598.5 | ) | 20,851.40 | | 5,583.00 | | (26,434.4 | ) | (598.5 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Noncontrolling interests | | — | | — | | 70.5 | | 3,154.40 | | 3,224.90 | | | | | | | | | | | |
Equity of consolidated alliance | | — | | — | | 6,408.40 | | (6,408.4 | ) | — | | | | | | | | | | | |
Total equity | | (598.5 | ) | 20,851.40 | | 12,061.90 | | (29,688.4 | ) | 2,626.40 | | | | | | | | | | | |
Total liabilities and equity | | $ | 30,102.40 | | $ | 31,796.90 | | $ | 17,148.80 | | $ | (41,149.1 | ) | $ | 37,899.00 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) The majority of the Guarantor settlement assets relate to FDC’s merchant acquiring business. FDC believes the settlement assets are not available to satisfy any claims other than those related to the settlement liabilities. | | | Year ended December 31, 2010 | | | | | | | | | | |
| (As Corrected) | | | | | | | | | |
| | Nine months ended September 30, 2013 | | | | | | | | | | | (in millions) | | FDC Parent | | Guarantor | | Non- | | Consolidation | | Consolidated | | | | | | | | | | |
(in millions) | | FDC Parent | | Guarantor | | Non- | | Consolidation | | Consolidated | | | | | | | | | | | Company | Subsidiaries | Guarantor | Adjustments | | | | | | | | | |
Company | Subsidiaries | Guarantor | Adjustments | | | | | | | | | | | | Subsidiaries | | | | | | | | | | |
| | Subsidiaries | | | | | | | | | | | Revenues: | | | | | | | | | | | | | | | | | | | | | | | | | |
CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | Transaction and processing service fees | | $ | — | | $ | 4,001.70 | | $ | 2,328.30 | | $ | (148.5 | ) | $ | 6,181.50 | | | | | | | | | | |
Net (loss) income | | $ | (746.0 | ) | $ | 334.1 | | $ | 262.6 | | $ | (474.6 | ) | $ | (623.9 | ) | | | | | | | | | | Product sales and other | | | — | | | 542.6 | | | 319.3 | | | (52.6 | ) | | 809.3 | | | | | | | | | | |
Adjustments to reconcile to net cash (used in) provided by operating activities: | | | | | | | | | | | | | | | | | | | | | Reimbursable debit network fees, postage and other | | | — | | | 2,299.80 | | | 1,160.30 | | | (70.5 | ) | | 3,389.60 | | | | | | | | | | |
Depreciation and amortization (including amortization netted against equity earnings in affiliates and revenues) | | 5.5 | | 568.5 | | 334.1 | | — | | 908.1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Charges (gains) related to other operating expenses and other income (expense) | | 47.2 | | 19.9 | | (0.2 | ) | — | | 66.9 | | | | | | | | | | | | | | — | | | 6,844.10 | | | 3,807.90 | | | (271.6 | ) | | 10,380.40 | | | | | | | | | | |
Other non-cash and non-operating items, net | | (303.8 | ) | (173.9 | ) | (2.0 | ) | 474.6 | | (5.1 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | | (356.7 | ) | 215.1 | | 127.6 | | — | | (14.0 | ) | | | | | | | | | | Expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash (used in) provided by operating activities | | (1,353.8 | ) | 963.7 | | 722.1 | | — | | 332 | | | | | | | | | | | Cost of services (exclusive of items shown below) | | | — | | | 1,949.60 | | | 1,222.20 | | | (148.5 | ) | | 3,023.30 | | | | | | | | | | |
CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | Cost of products sold | | | — | | | 257.8 | | | 170 | | | (52.6 | ) | | 375.2 | | | | | | | | | | |
Payments related to other business previously acquired | | — | | 0.2 | | — | | — | | 0.2 | | | | | | | | | | | Selling, general and administrative | | | 264.7 | | | 877.2 | | | 437.8 | | | — | | | 1,579.70 | | | | | | | | | | |
Proceeds from dispositions, net of expenses paid and cash disposed | | — | | 6.8 | | 7.7 | | — | | 14.5 | | | | | | | | | | | Reimbursable debit network fees, postage and other | | | — | | | 2,299.80 | | | 1,160.30 | | | (70.5 | ) | | 3,389.60 | | | | | | | | | | |
Additions to property and equipment | | (0.1 | ) | (63.6 | ) | (68.6 | ) | — | | (132.3 | ) | | | | | | | | | | Depreciation and amortization | | | 7.6 | | | 937.9 | | | 468.9 | | | — | | | 1,414.40 | | | | | | | | | | |
Proceeds from sale of property and equipment | | — | | 4.1 | | 0.1 | | — | | 4.2 | | | | | | | | | | | Other operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | | (0.4 | ) | (91.4 | ) | (36.2 | ) | — | | (128.0 | ) | | | | | | | | | | Restructuring, net | | | 12.7 | | | 46 | | | 13.3 | | | — | | | 72 | | | | | | | | | | |
Distributions and dividends from subsidiaries | | 146.5 | | 131.5 | | — | | (278.0 | ) | — | | | | | | | | | | | Impairments | | | — | | | 7.8 | | | 3.7 | | | — | | | 11.5 | | | | | | | | | | |
Other investing activities | | 0.3 | | 6 | | 0.9 | | — | | 7.2 | | | | | | | | | | | Litigation and regulatory settlements | | | — | | | (2.0 | ) | | — | | | — | | | (2.0 | ) | | | | | | | | | |
Net cash provided by (used in) investing activities | | 146.3 | | (6.4 | ) | (96.1 | ) | (278.0 | ) | (234.2 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | 285 | | | 6,374.10 | | | 3,476.20 | | | (271.6 | ) | | 9,863.70 | | | | | | | | | | |
Short-term borrowings, net | | 95 | | — | | (98.1 | ) | — | | (3.1 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Accrued interest funded upon issuance of notes | | (6.5 | ) | — | | — | | — | | (6.5 | ) | | | | | | | | | | Operating (loss) profit | | | (285.0 | ) | | 470 | | | 331.7 | | | — | | | 516.7 | | | | | | | | | | |
Debt modification (payments) proceeds and related financing costs, net | | (49.0 | ) | — | | — | | — | | (49.0 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Principal payments on long-term debt | | (15.4 | ) | (49.9 | ) | (7.1 | ) | — | | (72.4 | ) | | | | | | | | | | Interest income | | | 1 | | | 1.1 | | | 5.7 | | | — | | | 7.8 | | | | | | | | | | |
Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interest | | — | | — | | (30.6 | ) | (125.9 | ) | (156.5 | ) | | | | | | | | | | Interest expense | | | (1,775.2 | ) | | (6.4 | ) | | (15.0 | ) | | — | | | (1,796.6 | ) | | | | | | | | | |
Distributions paid to equity holders | | — | | — | | (257.4 | ) | 257.4 | | — | | | | | | | | | | | Interest income (expense) from intercompany notes | | | 230.3 | | | (249.7 | ) | | 19.4 | | | — | | | — | | | | | | | | | | |
Redemption of Parent’s redeemable common stock | | (7.5 | ) | — | | — | | — | | (7.5 | ) | | | | | | | | | | Other income (expense) | | | 2.8 | | | 31.8 | | | (24.5 | ) | | (26.0 | ) | | (15.9 | ) | | | | | | | | | |
Purchase of noncontrolling interest | | — | | — | | (23.7 | ) | — | | (23.7 | ) | | | | | | | | | | Equity earnings from consolidated subsidiaries | | | 249.8 | | | 150.2 | | | — | | | (400.0 | ) | | — | | | | | | | | | | |
Cash dividends | | (21.5 | ) | — | | (146.5 | ) | 146.5 | | (21.5 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Intercompany | | 991.2 | | (914.0 | ) | (77.2 | ) | — | | — | | | | | | | | | | | | | | (1,291.3 | ) | | (73.0 | ) | | (14.4 | ) | | (426.0 | ) | | (1,804.7 | ) | | | | | | | | | |
Net cash provided by (used in) financing activities | | 986.3 | | (963.9 | ) | (640.6 | ) | 278 | | (340.2 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Effect of exchange rate changes on cash and cash equivalents | | — | | 1.6 | | (8.9 | ) | — | | (7.3 | ) | | | | | | | | | | (Loss) income before income taxes and equity earnings in affiliates | | | (1,576.3 | ) | | 397 | | | 317.3 | | | (426.0 | ) | | (1,288.0 | ) | | | | | | | | | |
Change in cash and cash equivalents | | (221.2 | ) | (5.0 | ) | (23.5 | ) | — | | (249.7 | ) | | | | | | | | | | Income tax (benefit) expense | | | (554.5 | ) | | 124.3 | | | 106.4 | | | — | | | (323.8 | ) | | | | | | | | | |
Cash and cash equivalents at beginning of period | | 228 | | 37.2 | | 343.1 | | — | | 608.3 | | | | | | | | | | | Equity earnings in affiliates | | | — | | | 117.7 | | | 1.5 | | | (1.9 | ) | | 117.3 | | | | | | | | | | |
Cash and cash equivalents at end of period | | $ | 6.8 | | $ | 32.2 | | $ | 319.6 | | $ | — | | $ | 358.6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net (loss) income | | | (1,021.8 | ) | | 390.4 | | | 212.4 | | | (427.9 | ) | | (846.9 | ) | | | | | | | | | |
| | Nine months ended September 30, 2012 | | | | | | | | | | | Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | | | — | | | — | | | 49.1 | | | 125.8 | | | 174.9 | | | | | | | | | | |
(As Corrected) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(in millions) | | FDC Parent | | Guarantor | | Non- | | Consolidation | | Consolidated | | | | | | | | | | | Net (loss) income attributable to First Data Corporation | | $ | (1,021.8 | ) | $ | 390.4 | | $ | 163.3 | | $ | (553.7 | ) | $ | (1,021.8 | ) | | | | | | | | | |
Company | Subsidiaries | Guarantor | Adjustments | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Subsidiaries | | | | | | | | | | | Comprehensive (loss) income | | | (976.8 | ) | | 399.5 | | | 207.2 | | | (435.1 | ) | | (805.2 | ) | | | | | | | | | |
CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | | | — | | | — | | | 46 | | | 125.8 | | | 171.8 | | | | | | | | | | |
Net (loss) income | | $ | (521.9 | ) | $ | 332.8 | | $ | 282.7 | | $ | (496.9 | ) | $ | (403.3 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Adjustments to reconcile to net cash (used in) provided by operating activities: | | | | | | | | | | | | | | | | | | | | | Comprehensive (loss) income attributable to First Data Corporation | | $ | (976.8 | ) | $ | 399.5 | | $ | 161.2 | | $ | (560.9 | ) | $ | (977.0 | ) | | | | | | | | | |
Depreciation and amortization (including amortization netted against equity earnings in affiliates and revenues) | | 6 | | 638.4 | | 359.7 | | — | | 1,004.10 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Charges related to other operating expenses and other income (expense) | | 78.5 | | 20.9 | | 12.7 | | — | | 112.1 | | | | | | | | | | | |
Other non-cash and non-operating items, net | | (346.1 | ) | (194.1 | ) | 5.5 | | 496.9 | | (37.8 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | | (483.8 | ) | 347.2 | | (0.3 | ) | — | | (136.9 | ) | | | | | | | | | | | | As of December 31, 2012 | | | | | | | | | | |
Net cash (used in) provided by operating activities | | (1,267.3 | ) | 1,145.20 | | 660.3 | | — | | 538.2 | | | | | | | | | | | (in millions) | | FDC Parent | | Guarantor | | Non- | | Consolidation | | Consolidated | | | | | | | | | | |
CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | Company | Subsidiaries | Guarantor | Adjustments | | | | | | | | | |
Current period acquisitions | | — | | (1.9 | ) | — | | — | | (1.9 | ) | | | | | | | | | | | | Subsidiaries | | | | | | | | | | |
Contributions to equity method investments | | — | | (7.9 | ) | — | | — | | (7.9 | ) | | | | | | | | | | ASSETS | | | | | | | | | | | | | | | | | | | | | | | | | |
Payments related to other businesses previously acquired | | — | | (3.2 | ) | — | | — | | (3.2 | ) | | | | | | | | | | Current assets: | | | | | | | | | | | | | | | | | | | | | | | | | |
Additions to property and equipment | | (1.7 | ) | (67.3 | ) | (67.3 | ) | — | | (136.3 | ) | | | | | | | | | | Cash and cash equivalents | | $ | 228 | | $ | 37.2 | | $ | 343.1 | | $ | — | | $ | 608.3 | | | | | | | | | | |
Proceeds from sale of property and equipment | | — | | 6.9 | | 0.9 | | — | | 7.8 | | | | | | | | | | | Accounts receivable, net of allowance for doubtful accounts | | | 4.4 | | | 879.7 | | | 963.6 | | | — | | | 1,847.70 | | | | | | | | | | |
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | | (0.7 | ) | (117.1 | ) | (23.4 | ) | — | | (141.2 | ) | | | | | | | | | | Settlement assets(a) | | | — | | | 5,097.10 | | | 4,076.70 | | | — | | | 9,173.80 | | | | | | | | | | |
Distributions and dividends from subsidiaries | | 87 | | 161.6 | | — | | (248.6 | ) | — | | | | | | | | | | | Intercompany notes receivable | | | — | | | — | | | 30.8 | | | (30.8 | ) | | — | | | | | | | | | | |
Other investing activities | | 1.9 | | 0.5 | | 4.9 | | — | | 7.3 | | | | | | | | | | | Other current assets | | | 73 | | | 145.3 | | | 35.3 | | | — | | | 253.6 | | | | | | | | | | |
Net cash provided by (used in) investing activities | | 86.5 | | (28.4 | ) | (84.9 | ) | (248.6 | ) | (275.4 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | Total current assets | | | 305.4 | | | 6,159.30 | | | 5,449.50 | | | (30.8 | ) | | 11,883.40 | | | | | | | | | | |
Short-term borrowings, net | | — | | — | | (22.0 | ) | — | | (22.0 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Accrued interest funded upon issuance of notes | | 6.5 | | — | | — | | — | | 6.5 | | | | | | | | | | | Property and equipment, net of accumulated depreciation | | | 30.7 | | | 561.4 | | | 263.7 | | | — | | | 855.8 | | | | | | | | | | |
Debt modification proceeds and related financing costs, net | | 10.8 | | — | | — | | — | | 10.8 | | | | | | | | | | | Goodwill | | | — | | | 9,485.30 | | | 7,797.20 | | | — | | | 17,282.50 | | | | | | | | | | |
Principal payments on long-term debt | | (0.2 | ) | (44.9 | ) | (15.1 | ) | — | | (60.2 | ) | | | | | | | | | | Customer relationships, net of accumulated amortization | | | — | | | 2,071.70 | | | 1,684.60 | | | — | | | 3,756.30 | | | | | | | | | | |
Proceeds from sale-leaseback transactions | | — | | 13.8 | | — | | — | | 13.8 | | | | | | | | | | | Other intangibles, net of accumulated amortization | | | 605 | | | 619.7 | | | 603.9 | | | — | | | 1,828.60 | | | | | | | | | | |
Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interest | | — | | — | | (45.4 | ) | (153.6 | ) | (199.0 | ) | | | | | | | | | | Investment in affiliates | | | — | | | 1,375.20 | | | 37.9 | | | — | | | 1,413.10 | | | | | | | | | | |
Distributions paid to equity holders | | — | | — | | (313.2 | ) | 313.2 | | — | | | | | | | | | | | Long-term settlement assets(a) | | | — | | | — | | | 54.3 | | | — | | | 54.3 | | | | | | | | | | |
Redemption of Parent’s redeemable common stock | | (0.5 | ) | — | | — | | — | | (0.5 | ) | | | | | | | | | | Long-term intercompany receivables | | | — | | | 5,501.30 | | | 1,141.10 | | | (6,642.4 | ) | | — | | | | | | | | | | |
Purchase of noncontrolling interest | | — | | — | | (25.1 | ) | — | | (25.1 | ) | | | | | | | | | | Long-term intercompany notes receivable | | | 3,397.30 | | | 270 | | | 8.4 | | | (3,675.7 | ) | | — | | | | | | | | | | |
Cash dividends | | (5.1 | ) | — | | (89.0 | ) | 89 | | (5.1 | ) | | | | | | | | | | Other long-term assets | | | 427.1 | | | 373.5 | | | 108.2 | | | (83.8 | ) | | 825 | | | | | | | | | | |
Intercompany | | 1,137.10 | | (1,098.2 | ) | (38.9 | ) | — | | — | | | | | | | | | | | Investment in consolidated subsidiaries | | | 24,257.20 | | | 5,379.50 | | | — | | | (29,636.7 | ) | | — | | | | | | | | | | |
Net cash provided by (used in) financing activities | | 1,148.60 | | (1,129.3 | ) | (548.7 | ) | 248.6 | | (280.8 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Effect of exchange rate changes on cash and cash equivalents | | — | | (4.0 | ) | 6.5 | | — | | 2.5 | | | | | | | | | | | Total assets | | $ | 29,022.70 | | $ | 31,796.90 | | $ | 17,148.80 | | $ | (40,069.4 | ) | $ | 37,899.00 | | | | | | | | | | |
Change in cash and cash equivalents | | (32.2 | ) | (16.5 | ) | 33.2 | | — | | (15.5 | ) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at beginning of period | | 162.2 | | 37.1 | | 286.4 | | — | | 485.7 | | | | | | | | | | | LIABILITIES AND EQUITY | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of period | | $ | 130 | | $ | 20.6 | | $ | 319.6 | | $ | — | | $ | 470.2 | | | | | | | | | | | Current liabilities: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Accounts payable | | $ | 13.8 | | $ | 141.8 | | $ | 105.3 | | $ | — | | $ | 260.9 | | | | | | | | | | |
| Short-term and current portion of long-term borrowings | | | 15.1 | | | 55.1 | | | 186.9 | | | — | | | 257.1 | | | | | | | | | | |
| Settlement obligations(a) | | | — | | | 5,097.10 | | | 4,129.20 | | | — | | | 9,226.30 | | | | | | | | | | |
| Intercompany notes payable | | | 30.8 | | | — | | | — | | | (30.8 | ) | | — | | | | | | | | | | |
| Other current liabilities | | | 608.1 | | | 620.3 | | | 372.2 | | | — | | | 1,600.60 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total current liabilities | | | 667.8 | | | 5,914.30 | | | 4,793.60 | | | (30.8 | ) | | 11,344.90 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Long-term borrowings | | | 22,462.30 | | | 47.8 | | | 18.8 | | | — | | | 22,528.90 | | | | | | | | | | |
| Long-term deferred tax (assets) liabilities | | | (1,079.7 | ) | | 1,512.70 | | | 76.5 | | | — | | | 509.5 | | | | | | | | | | |
| Long-term intercompany payables | | | 6,642.40 | | | — | | | — | | | (6,642.4 | ) | | — | | | | | | | | | | |
| Long-term intercompany notes payable | | | 276.7 | | | 3,315.60 | | | 83.4 | | | (3,675.7 | ) | | — | | | | | | | | | | |
| Other long-term liabilities | | | 651.7 | | | 222.7 | | | 31.3 | | | (83.8 | ) | | 821.9 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total liabilities | | | 29,621.20 | | | 11,013.10 | | | 5,003.60 | | | (10,432.7 | ) | | 35,205.20 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Redeemable equity interest | | | — | | | — | | | 67.4 | | | (67.4 | ) | | — | | | | | | | | | | |
| Redeemable noncontrolling interest | | | — | | | — | | | — | | | 67.4 | | | 67.4 | | | | | | | | | | |
| First Data Corporation stockholder's equity | | | (598.5 | ) | | 20,783.80 | | | 5,598.90 | | | (26,382.7 | ) | | (598.5 | ) | | | | | | | | | |
| Noncontrolling interests | | | — | | | — | | | 70.5 | | | 3,154.40 | | | 3,224.90 | | | | | | | | | | |
| Equity of consolidated alliance | | | — | | | — | | | 6,408.40 | | | (6,408.4 | ) | | — | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total equity | | | (598.5 | ) | | 20,783.80 | | | 12,077.80 | | | (29,636.7 | ) | | 2,626.40 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total liabilities and equity | | $ | 29,022.70 | | $ | 31,796.90 | | $ | 17,148.80 | | $ | (40,069.4 | ) | $ | 37,899.00 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | As of December 31, 2011 (As Corrected) | | | | | | | | | | |
| (in millions) | | FDC Parent | | Guarantor | | Non- | | Consolidation | | Consolidated | | | | | | | | | | |
| Company | Subsidiaries | Guarantor | Adjustments | | | | | | | | | |
| | | Subsidiaries | | | | | | | | | | |
| ASSETS | | | | | | | | | | | | | | | | | | | | | | | | | |
| Current assets: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 162.2 | | $ | 37.1 | | $ | 286.4 | | $ | — | | $ | 485.7 | | | | | | | | | | |
| Accounts receivable, net of allowance for doubtful accounts | | | 25.3 | | | 939.4 | | | 883.9 | | | — | | | 1,848.60 | | | | | | | | | | |
| Settlement assets(a) | | | — | | | 6,093.20 | | | 4,565.10 | | | — | | | 10,658.30 | | | | | | | | | | |
| Intercompany notes receivable | | | 12.2 | | | — | | | 86.1 | | | (98.3 | ) | | — | | | | | | | | | | |
| Other current assets | | | 45.7 | | | 212 | | | 65.2 | | | — | | | 322.9 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total current assets | | | 245.4 | | | 7,281.70 | | | 5,886.70 | | | (98.3 | ) | | 13,315.50 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Property and equipment, net of accumulated depreciation | | | 31.4 | | | 623.5 | | | 281 | | | — | | | 935.9 | | | | | | | | | | |
| Goodwill | | | — | | | 9,430.90 | | | 7,773.70 | | | — | | | 17,204.60 | | | | | | | | | | |
| Customer relationships, net of accumulated amortization | | | — | | | 2,468.40 | | | 1,957.00 | | | — | | | 4,425.40 | | | | | | | | | | |
| Other intangibles, net of accumulated amortization | | | 606.8 | | | 638.7 | | | 633.7 | | | — | | | 1,879.20 | | | | | | | | | | |
| Investment in affiliates | | | — | | | 1,452.80 | | | 37.8 | | | — | | | 1,490.60 | | | | | | | | | | |
| Long-term settlement assets(a) | | | — | | | — | | | 181 | | | — | | | 181 | | | | | | | | | | |
| Long-term intercompany receivables | | | — | | | 4,330.20 | | | 962.7 | | | (5,292.9 | ) | | — | | | | | | | | | | |
| Long-term intercompany notes receivable | | | 3,229.40 | | | 251.5 | | | 59 | | | (3,539.9 | ) | | — | | | | | | | | | | |
| Other long-term assets | | | 465.7 | | | 304.3 | | | 74.1 | | | — | | | 844.1 | | | | | | | | | | |
| Investment in consolidated subsidiaries | | | 23,797.40 | | | 5,843.00 | | | — | | | (29,640.4 | ) | | — | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total assets | | $ | 28,376.10 | | $ | 32,625.00 | | $ | 17,846.70 | | $ | (38,571.5 | ) | $ | 40,276.30 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| LIABILITIES AND EQUITY | | | | | | | | | | | | | | | | | | | | | | | | | |
| Current liabilities: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Accounts payable | | $ | 7.1 | | $ | 113.4 | | $ | 85.4 | | $ | — | | $ | 205.9 | | | | | | | | | | |
| Short-term and current portion of long-term borrowings | | | 0.3 | | | 39.6 | | | 93.5 | | | — | | | 133.4 | | | | | | | | | | |
| Settlement obligations(a) | | | — | | | 6,093.20 | | | 4,744.60 | | | — | | | 10,837.80 | | | | | | | | | | |
| Intercompany notes payable | | | 62.5 | | | 35.8 | | | — | | | (98.3 | ) | | — | | | | | | | | | | |
| Other current liabilities | | | 690.5 | | | 544.5 | | | 408.1 | | | — | | | 1,643.10 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total current liabilities | | | 760.4 | | | 6,826.50 | | | 5,331.60 | | | (98.3 | ) | | 12,820.20 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Long-term borrowings | | | 22,422.40 | | | 69 | | | 30.3 | | | — | | | 22,521.70 | | | | | | | | | | |
| Long-term deferred tax (assets) liabilities | | | (1,091.6 | ) | | 1,677.50 | | | 109.5 | | | — | | | 695.4 | | | | | | | | | | |
| Long-term intercompany payables | | | 5,292.90 | | | — | | | — | | | (5,292.9 | ) | | — | | | | | | | | | | |
| Long-term intercompany notes payable | | | 260.6 | | | 3,196.80 | | | 82.5 | | | (3,539.9 | ) | | — | | | | | | | | | | |
| Other long-term liabilities | | | 634.8 | | | 100.1 | | | 28.7 | | | — | | | 763.6 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total liabilities | | | 28,279.50 | | | 11,869.90 | | | 5,582.60 | | | (8,931.1 | ) | | 36,800.90 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Redeemable equity interest | | | — | | | — | | | 67.4 | | | (67.4 | ) | | — | | | | | | | | | | |
| Redeemable noncontrolling interest | | | — | | | — | | | — | | | 67.4 | | | 67.4 | | | | | | | | | | |
| First Data Corporation stockholder's equity | | | 96.6 | | | 20,755.10 | | | 5,534.40 | | | (26,289.5 | ) | | 96.6 | | | | | | | | | | |
| Noncontrolling interests | | | — | | | — | | | 60.8 | | | 3,250.60 | | | 3,311.40 | | | | | | | | | | |
| Equity of consolidated alliance | | | — | | | — | | | 6,601.50 | | | (6,601.5 | ) | | — | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total equity | | | 96.6 | | | 20,755.10 | | | 12,196.70 | | | (29,640.4 | ) | | 3,408.00 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| Total liabilities and equity | | $ | 28,376.10 | | $ | 32,625.00 | | $ | 17,846.70 | | $ | (38,571.5 | ) | $ | 40,276.30 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| |
| (a) |
| The majority of the Guarantor settlement assets relate to FDC's merchant acquiring business. FDC believes the settlement assets are not available to satisfy any claims other than those related to the settlement liabilities. |
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| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Year ended December 31, 2012 | | | | | | | | | | |
| (in millions) | | FDC Parent | | Guarantor | | Non- | | Consolidation | | Consolidated | | | | | | | | | | |
| Company | Subsidiaries | Guarantor | Adjustments | | | | | | | | | |
| | | Subsidiaries | | | | | | | | | | |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net (loss) income | | $ | (700.9 | ) | $ | 447.2 | | $ | 428.7 | | $ | (702.3 | ) | $ | (527.3 | ) | | | | | | | | | |
| Adjustments to reconcile to net cash (used in) provided by operating activities: | | | | | | | | | | | | | | | | | | | | | | | | | |
| Depreciation and amortization (including amortization netted against equity earnings in affiliates and revenues) | | | 8.1 | | | 844.5 | | | 478.3 | | | — | | | 1,330.90 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Charges (gains) related to other operating expenses and other income (expense) | | | 101.9 | | | 20.8 | | | (0.2 | ) | | — | | | 122.5 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Other non-cash and non-operating items, net | | | (483.9 | ) | | (265.8 | ) | | 7.2 | | | 702.3 | | | (40.2 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | (Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | | | (461.8 | ) | | 515 | | | (171.7 | ) | | — | | | (118.5 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Net cash (used in) provided by operating activities | | | (1,536.6 | ) | | 1,561.70 | | | 742.3 | | | — | | | 767.4 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Current year acquisitions, net of cash acquired | | | (33.0 | ) | | 0.1 | | | — | | | — | | | (32.9 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Contributions to equity method investments | | | — | | | (7.9 | ) | | — | | | — | | | (7.9 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Payments related to other businesses previously acquired | | | — | | | (4.4 | ) | | — | | | — | | | (4.4 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Proceeds from sale of property and equipment | | | — | | | 7.1 | | | 0.9 | | | — | | | 8 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Additions to property and equipment | | | (2.6 | ) | | (88.9 | ) | | (101.6 | ) | | — | | | (193.1 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | | | (0.8 | ) | | (137.8 | ) | | (38.6 | ) | | — | | | (177.2 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Other investing activities | | | 228.3 | | | 219 | | | 6.7 | | | (443.6 | ) | | 10.4 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Net cash provided by (used in) investing activities | | | 191.9 | | | (12.8 | ) | | (132.6 | ) | | (443.6 | ) | | (397.1 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Short-term borrowings, net | | | — | | | — | | | 99.1 | | | — | | | 99.1 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Accrued interest funded upon issuance of notes | | | 6.5 | | | — | | | — | | | — | | | 6.5 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Debt modification proceeds and related financing costs | | | 10.8 | | | — | | | — | | | — | | | 10.8 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Principal payments on long-term debt | | | (3.4 | ) | | (56.2 | ) | | (23.7 | ) | | — | | | (83.3 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Proceeds from sale-leaseback transactions | | | — | | | 13.8 | | | — | | | — | | | 13.8 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interests | | | — | | | — | | | (54.0 | ) | | (207.9 | ) | | (261.9 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Distributions paid to equity holders | | | — | | | — | | | (424.0 | ) | | 424 | | | — | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Purchase of noncontrolling interest | | | — | | | — | | | (25.1 | ) | | — | | | (25.1 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Redemption of Parent's redeemable common stock | | | (1.7 | ) | | — | | | — | | | — | | | (1.7 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Cash dividends | | | (6.7 | ) | | — | | | (227.5 | ) | | 227.5 | | | (6.7 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Intercompany | | | 1,405.00 | | | (1,502.2 | ) | | 97.2 | | | — | | | — | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Net cash provided by (used in) financing activities | | | 1,410.50 | | | (1,544.6 | ) | | (558.0 | ) | | 443.6 | | | (248.5 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Effect of exchange rate changes on cash and cash equivalents | | | — | | | (4.2 | ) | | 5 | | | — | | | 0.8 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Change in cash and cash equivalents | | | 65.8 | | | 0.1 | | | 56.7 | | | — | | | 122.6 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Cash and cash equivalents at beginning of period | | | 162.2 | | | 37.1 | | | 286.4 | | | — | | | 485.7 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Cash and cash equivalents at end of period | | $ | 228 | | $ | 37.2 | | $ | 343.1 | | $ | — | | $ | 608.3 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Year ended December 31, 2011 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | (As Corrected) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | | FDC Parent | | Guarantor | | Non- | | Consolidation | | Consolidated | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Company | Subsidiaries | Guarantor | Adjustments | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Subsidiaries | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Net (loss) income | | $ | (516.1 | ) | $ | 368.2 | | $ | 397.9 | | $ | (586.1 | ) | $ | (336.1 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Adjustments to reconcile to net cash (used in) provided by operating activities: | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Depreciation and amortization (including amortization netted against equity earnings in affiliates and revenues) | | | 8.3 | | | 827.4 | | | 508.5 | | | — | | | 1,344.20 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | (Gains) charges related to other operating expenses and other income (expense) | | | (59.6 | ) | | (45.3 | ) | | 27.2 | | | — | | | (77.7 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Other non-cash and non-operating items, net | | | (360.3 | ) | | (209.5 | ) | | 11.4 | | | 586.1 | | | 27.7 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | (Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | | | (327.0 | ) | | 383.8 | | | 100.7 | | | — | | | 157.5 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Net cash (used in) provided by operating activities | | | (1,254.7 | ) | | 1,324.60 | | | 1,045.70 | | | — | | | 1,115.60 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Current year acquisitions, net of cash acquired | | | — | | | (19.1 | ) | | (0.1 | ) | | — | | | (19.2 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Contributions to equity method investments | | | — | | | (161.5 | ) | | — | | | — | | | (161.5 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Payments related to other businesses previously acquired | | | — | | | — | | | 3.2 | | | — | | | 3.2 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Proceeds from dispositions, net of expenses paid and cash disposed | | | — | | | — | | | 1.7 | | | — | | | 1.7 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Proceeds from sale of property and equipment | | | — | | | 14.3 | | | 2.8 | | | — | | | 17.1 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Additions to property and equipment | | | (4.6 | ) | | (101.3 | ) | | (97.0 | ) | | — | | | (202.9 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | | | (1.0 | ) | | (161.6 | ) | | (39.3 | ) | | — | | | (201.9 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Distributions and dividends from subsidiaries | | | 109.7 | | | 294.5 | | | — | | | (404.2 | ) | | — | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Other investing activities | | | 1.5 | | | 6.9 | | | (3.5 | ) | | — | | | 4.9 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Net cash provided by (used in) investing activities | | | 105.6 | | | (127.8 | ) | | (132.2 | ) | | (404.2 | ) | | (558.6 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Short-term borrowings, net | | | — | | | — | | | (107.3 | ) | | — | | | (107.3 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Debt modification and related financing costs | | | (39.7 | ) | | — | | | — | | | — | | | (39.7 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Principal payments on long-term debt | | | (32.9 | ) | | (52.7 | ) | | (18.9 | ) | | — | | | (104.5 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Proceeds from sale-leaseback transactions | | | — | | | 2.5 | | | 11.7 | | | — | | | 14.2 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interests | | | — | | | — | | | (44.2 | ) | | (283.1 | ) | | (327.3 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Contributions from noncontrolling interest | | | — | | | — | | | 0.8 | | | — | | | 0.8 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Distributions paid to equity holders | | | — | | | — | | | (577.6 | ) | | 577.6 | | | — | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Redemption of Parent's redeemable common stock | | | (0.5 | ) | | — | | | — | | | — | | | (0.5 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Cash dividends | | | (0.2 | ) | | — | | | (109.7 | ) | | 109.7 | | | (0.2 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Intercompany | | | 1,220.50 | | | (1,116.4 | ) | | (104.1 | ) | | — | | | — | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Net cash provided by (used in) financing activities | | | 1,147.20 | | | (1,166.6 | ) | | (949.3 | ) | | 404.2 | | | (564.5 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Effect of exchange rate changes on cash and cash equivalents | | | — | | | (14.2 | ) | | (2.1 | ) | | — | | | (16.3 | ) | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | Change in cash and cash equivalents | | | (1.9 | ) | | 16 | | | (37.9 | ) | | — | | | (23.8 | ) | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | Cash and cash equivalents at beginning of period | | | 164.1 | | | 21.1 | | | 324.3 | | | — | | | 509.5 | | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | Cash and cash equivalents at end of period | | $ | 162.2 | | $ | 37.1 | | $ | 286.4 | | $ | — | | $ | 485.7 | | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | Year ended December 31, 2010 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | (As Corrected) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | | FDC Parent | | Guarantor | | Non- | | Consolidation | | Consolidated | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Company | Subsidiaries | Guarantor | Adjustments | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Subsidiaries | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | CASH FLOWS FROM OPERATING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Net (loss) income | | $ | (1,021.8 | ) | $ | 390.4 | | $ | 212.4 | | $ | (427.9 | ) | $ | (846.9 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Adjustments to reconcile to net cash (used in) provided by operating activities: | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Depreciation and amortization (including amortization netted against equity earnings in affiliates and revenues) | | | 7.6 | | | 1,036.90 | | | 481.5 | | | — | | | 1,526.00 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Charges related to other operating expenses and other income (expense) | | | 9.9 | | | 20 | | | 41.5 | | | 26 | | | 97.4 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Other non-cash and non-operating items, net | | | 62.4 | | | (207.4 | ) | | 8.8 | | | 401.8 | | | 265.6 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | (Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | | | (564.4 | ) | | 66.6 | | | 213.3 | | | (2.9 | ) | | (287.4 | ) | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | Net cash (used in) provided by operating activities | | | (1,506.3 | ) | | 1,306.50 | | | 957.5 | | | (3.0 | ) | | 754.7 | | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Current year acquisitions, net of cash acquired | | | — | | | (1.7 | ) | | (0.1 | ) | | — | | | (1.8 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Contributions to equity method investments | | | — | | | (1.4 | ) | | — | | | — | | | (1.4 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Payments related to other businesses previously acquired | | | — | | | — | | | (1.4 | ) | | — | | | (1.4 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Proceeds from dispositions, net of expenses paid and cash disposed | | | — | | | — | | | 21.2 | | | — | | | 21.2 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Proceeds from sale of property and equipment | | | — | | | 1.4 | | | 4.1 | | | — | | | 5.5 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Additions to property and equipment | | | (4.2 | ) | | (113.0 | ) | | (92.9 | ) | | — | | | (210.1 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | | | (1.7 | ) | | (116.9 | ) | | (41.0 | ) | | — | | | (159.6 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Distributions and dividends from subsidiaries | | | 225.8 | | | 187.9 | | | — | | | (413.7 | ) | | — | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Other investing activities | | | 3.8 | | | 135.1 | | | 14 | | | (134.5 | ) | | 18.4 | | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | Net cash provided by (used in) investing activities | | | 223.7 | | | 91.4 | | | (96.1 | ) | | (548.2 | ) | | (329.2 | ) | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | CASH FLOWS FROM FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Short-term borrowings, net | | | — | | | — | | | 75.1 | | | — | | | 75.1 | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Debt modification and related financing costs | | | (61.2 | ) | | — | | | — | | | — | | | (61.2 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Principal payments on long-term debt | | | (143.8 | ) | | (57.0 | ) | | (19.6 | ) | | — | | | (220.4 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interests | | | — | | | — | | | (31.0 | ) | | (185.1 | ) | | (216.1 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Purchase of noncontrolling interest | | | — | | | — | | | — | | | (213.3 | ) | | (213.3 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Distributions paid to redeemable equity holders | | | — | | | — | | | (7.5 | ) | | 7.5 | | | — | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Distributions paid to equity holders | | | — | | | — | | | (368.5 | ) | | 368.5 | | | — | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Redemption of Parent's redeemable common stock | | | (2.5 | ) | | — | | | — | | | — | | | (2.5 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Redemption of redeemable equity of consolidated alliance | | | — | | | — | | | (347.8 | ) | | 347.8 | | | — | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Cash dividends | | | (14.9 | ) | | — | | | (225.8 | ) | | 225.8 | | | (14.9 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Intercompany | | | 1,564.50 | | | (1,346.1 | ) | | (218.4 | ) | | — | | | — | | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | Net cash provided by (used in) financing activities | | | 1,342.10 | | | (1,403.1 | ) | | (1,143.5 | ) | | 551.2 | | | (653.3 | ) | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Effect of exchange rate changes on cash and cash equivalents | | | — | | | 0.9 | | | (0.6 | ) | | — | | | 0.3 | | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | Change in cash and cash equivalents | | | 59.5 | | | (4.3 | ) | | (282.7 | ) | | — | | | (227.5 | ) | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | Cash and cash equivalents at beginning of period | | | 104.6 | | | 25.4 | | | 607 | | | — | | | 737 | | | | | | | | | | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | Cash and cash equivalents at end of period | | $ | 164.1 | | $ | 21.1 | | $ | 324.3 | | $ | — | | $ | 509.5 | | | | | | | | | | |
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