Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Sep. 30, 2013 | |
Document and Entity Information | ' |
Entity Registrant Name | 'FIRST DATA CORP |
Entity Central Index Key | '0000883980 |
Document Type | 'S-4 |
Document Period End Date | 30-Sep-13 |
Amendment Flag | 'false |
Entity Filer Category | 'Non-accelerated Filer |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||||
Transaction and processing service fees: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Merchant related services | $996.40 | [1] | ' | $977.40 | [1] | ' | ' | ' | ' | ' | ' | $2,963.20 | [1] | $2,885.30 | [1] | $3,896.30 | [2] | $3,692.80 | [2] | $3,521.30 | [2] |
Check services | 70.8 | ' | 77.4 | ' | ' | ' | ' | ' | ' | 214.5 | 233.8 | 313.9 | 338.2 | 378.8 | |||||||
Card services | 423.7 | [1] | ' | 431 | [1] | ' | ' | ' | ' | ' | ' | 1,250.20 | [1] | 1,298.80 | [1] | 1,737.70 | 1,750.60 | 1,735.80 | |||
Other services | 129.3 | ' | 126.3 | ' | ' | ' | ' | ' | ' | 364.6 | 369.7 | 504.2 | 548.4 | 545.6 | |||||||
Product sales and other | 215.5 | [1] | ' | 217.5 | [1] | ' | ' | ' | ' | ' | ' | 622.8 | [1] | 637.9 | [1] | 866.7 | [2] | 852.1 | [2] | 809.3 | [2] |
Reimbursable debit network fees, postage and other | 876.4 | ' | 844.4 | ' | ' | ' | ' | ' | ' | 2,596.50 | 2,498 | 3,361.50 | 3,531.50 | 3,389.60 | |||||||
Total revenues | 2,712.10 | 2,756.80 | 2,674 | 2,685.50 | 2,564 | 2,687.80 | 2,731.80 | 2,749.80 | 2,544.20 | 8,011.80 | 7,923.50 | 10,680.30 | 10,713.60 | 10,380.40 | |||||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Cost of services (exclusive of items shown below) | 708.6 | ' | 729 | ' | ' | ' | ' | ' | ' | 2,119.20 | 2,137.80 | 2,863.50 | 2,888.40 | 3,023.30 | |||||||
Cost of products sold | 80.9 | ' | 80.1 | ' | ' | ' | ' | ' | ' | 246.9 | 251.3 | 336.3 | 369.6 | 375.2 | |||||||
Selling, general and administrative | 463.6 | ' | 467.9 | ' | ' | ' | ' | ' | ' | 1,420.10 | 1,373.30 | 1,825.40 | 1,693.70 | 1,579.70 | |||||||
Reimbursable debit network fees, postage and other | 876.4 | ' | 844.4 | ' | ' | ' | ' | ' | ' | 2,596.50 | 2,498 | 3,361.50 | 3,531.50 | 3,389.60 | |||||||
Depreciation and amortization | 271.3 | ' | 293.5 | ' | ' | ' | ' | ' | ' | 818.2 | 897.1 | 1,191.60 | 1,245 | 1,414.40 | |||||||
Other operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Restructuring, net | 7.8 | ' | 7.2 | ' | ' | ' | ' | ' | ' | 46 | 24.1 | 23.1 | 46.4 | 72 | |||||||
Impairments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.1 | 5.1 | ' | 11.5 | |||||||
Litigation and regulatory settlements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.5 | -2 | |||||||
Total expenses | 2,408.60 | 2,419.80 | 2,422.10 | 2,417.60 | 2,347 | 2,358 | 2,438.60 | 2,537.80 | 2,437.70 | 7,246.90 | 7,186.70 | 9,606.50 | 9,772.10 | 9,863.70 | |||||||
Operating profit | 303.5 | 337 | 251.9 | 267.9 | 217 | 329.8 | 293.2 | 212 | 106.5 | 764.9 | 736.8 | 1,073.80 | 941.5 | 516.7 | |||||||
Interest income | 2.7 | 2.5 | 2.1 | 1.7 | 2.5 | 2.5 | 1.6 | 1.9 | 1.9 | 8 | 6.3 | 8.8 | 7.9 | 7.8 | |||||||
Interest expense | -469 | -467.4 | -488.6 | -480.7 | -461.1 | -461.8 | -466.7 | -462.3 | -442.3 | -1,410.20 | -1,430.40 | -1,897.80 | -1,833.10 | -1,796.60 | |||||||
Other income (expense) | -36.2 | -11.5 | -52 | -22.6 | -8.2 | 56.4 | 95.4 | -1.4 | -26.3 | -20.9 | -82.8 | -94.3 | 124.1 | -15.9 | |||||||
Non-operating income (expense) | -502.5 | ' | -538.5 | ' | ' | ' | ' | ' | ' | -1,423.10 | -1,506.90 | -1,983.30 | -1,701.10 | -1,804.70 | |||||||
Loss before income taxes and equity earnings in affiliates | -199 | -139.4 | -286.6 | -233.7 | -249.8 | -73.1 | -76.5 | -249.8 | -360.2 | -658.2 | -770.1 | -909.5 | -759.6 | -1,288 | |||||||
Income tax expense (benefit) | 28.6 | 28.3 | -69.4 | -74.7 | -108.2 | -15.1 | -18.9 | -88.1 | -148 | 101.7 | -252.3 | -224 | -270.1 | -323.8 | |||||||
Equity earnings in affiliates | 47.3 | 43.7 | 43 | 44 | 27.5 | 44.4 | 47.8 | 33.5 | 27.7 | 136 | 114.5 | 158.2 | 153.4 | 117.3 | |||||||
Net loss | -180.3 | -124 | -174.2 | -115 | -114.1 | -13.6 | -9.8 | -128.2 | -184.5 | -623.9 | -403.3 | -527.3 | -336.1 | -846.9 | |||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | 39.2 | 55 | 37.8 | 42.4 | 38.4 | 55.7 | 44.1 | 47.6 | 32.6 | 122.1 | 118.6 | 173.6 | 180 | 174.9 | |||||||
Net loss attributable to First Data Corporation | ($219.50) | ($179) | ($212) | ($157.40) | ($152.50) | ($69.30) | ($53.90) | ($175.80) | ($217.10) | ($746) | ($521.90) | ($700.90) | ($516.10) | ($1,021.80) | |||||||
[1] | Includes processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method of $40.3 million and $122.0 million for the three and nine months ended September 30, 2013, respectively, and $40.7 million and $119.4 million for the comparable periods in 2012. | ||||||||||||||||||||
[2] | Includes processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method of $159.8 million, $146.0 million and $134.6 million for the years ended December 31, 2012, 2011 and 2010, respectively. |
CONSOLIDATED_STATEMENTS_OF_OPE1
CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
CONSOLIDATED STATEMENTS OF OPERATIONS | ' | ' | ' | ' | ' | ' | ' |
Processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method | $40.30 | $40.70 | $122 | $119.40 | $159.80 | $146 | $134.60 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Net loss | ($180.30) | ($124) | ($174.20) | ($115) | ($114.10) | ($13.60) | ($9.80) | ($128.20) | ($184.50) | ($623.90) | ($403.30) | ($527.30) | ($336.10) | ($846.90) |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized gains on securities | 0.1 | ' | -0.8 | ' | ' | ' | ' | ' | ' | 1 | -0.2 | 0.2 | 0.8 | 27.5 |
Unrealized gains on hedging activities | ' | ' | 23.8 | ' | ' | ' | ' | ' | ' | ' | 72.1 | 72.2 | 99.6 | 70.3 |
Pension liability adjustments | 1.2 | ' | -0.3 | ' | ' | ' | ' | ' | ' | 3.5 | 0.7 | -38.6 | -23.9 | 28.5 |
Foreign currency translation adjustment | 79.5 | ' | 96.4 | ' | ' | ' | ' | ' | ' | -68.3 | 3.7 | 15.7 | -44.9 | -84.6 |
Total other comprehensive income (loss), net of tax | 80.8 | ' | 119.1 | ' | ' | ' | ' | ' | ' | -63.8 | 76.3 | 49.5 | 31.6 | 41.7 |
Comprehensive loss | -99.5 | ' | -55.1 | ' | ' | ' | ' | ' | ' | -687.7 | -327 | -477.8 | -304.5 | -805.2 |
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interests | 41.6 | ' | 41.3 | ' | ' | ' | ' | ' | ' | 122.5 | 119.1 | 176.9 | 173.1 | 171.8 |
Comprehensive loss attributable to First Data Corporation | ($141.10) | ' | ($96.40) | ' | ' | ' | ' | ' | ' | ($810.20) | ($446.10) | ($654.70) | ($477.60) | ($977) |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 |
In Millions, unless otherwise specified | ||||||
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $358.60 | $608.30 | $470.20 | $485.70 | $509.50 | $737 |
Accounts receivable, net of allowance for doubtful accounts of $37.9 (2013) and $33.3 (2012) | 1,632.30 | 1,847.70 | ' | 1,848.60 | ' | ' |
Settlement assets | 9,181.70 | 9,173.80 | ' | 10,658.30 | ' | ' |
Other current assets | 351.7 | 253.6 | ' | 322.9 | ' | ' |
Total current assets | 11,524.30 | 11,883.40 | ' | 13,315.50 | ' | ' |
Property and equipment, net of accumulated depreciation of $1,100.4 (2013) and $1,024.3 (2012) | 866.9 | 855.8 | ' | 935.9 | ' | ' |
Goodwill | 17,232 | 17,282.50 | ' | 17,204.60 | 17,296.90 | ' |
Customer relationships, net of accumulated amortization of $4,284.7 (2013) and $3,839.0 (2012) | 3,322.60 | 3,756.30 | ' | 4,425.40 | ' | ' |
Other intangibles, net of accumulated amortization of $1,712.8 (2013) and $1,544.0 (2012) | 1,726.90 | 1,828.60 | ' | 1,879.20 | ' | ' |
Investment in affiliates | 1,338.70 | 1,413.10 | ' | 1,490.60 | 1,208.20 | ' |
Long-term settlement assets | 18.6 | 54.3 | ' | 181 | ' | ' |
Other long-term assets | 813.7 | 825 | ' | 844.1 | ' | ' |
Total assets | 36,843.70 | 37,899 | ' | 40,276.30 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Accounts payable | 254.6 | 260.9 | ' | 205.9 | ' | ' |
Short-term and current portion of long-term borrowings | 248.3 | 257.1 | ' | 133.4 | ' | ' |
Settlement obligations | 9,197.60 | 9,226.30 | ' | 10,837.80 | ' | ' |
Other current liabilities | 1,371.10 | 1,600.60 | ' | 1,643.10 | ' | ' |
Total current liabilities | 11,071.60 | 11,344.90 | ' | 12,820.20 | ' | ' |
Long-term borrowings | 22,565.10 | 22,528.90 | ' | 22,521.70 | ' | ' |
Long-term deferred tax liabilities | 553.1 | 509.5 | ' | 695.4 | ' | ' |
Other long-term liabilities | 786.1 | 821.9 | ' | 763.6 | ' | ' |
Total liabilities | 34,975.90 | 35,205.20 | ' | 36,800.90 | ' | ' |
Commitments and contingencies (See Note 11) | ' | ' | ' | ' | ' | ' |
Redeemable noncontrolling interest | 67.9 | 67.4 | 66.6 | 67.4 | 28.1 | ' |
First Data Corporation stockholder's (deficit) equity: | ' | ' | ' | ' | ' | ' |
Common stock, $.01 par value; authorized and issued 1,000 shares (2012 and 2011) | ' | ' | ' | ' | ' | ' |
Additional paid-in capital | 7,376.10 | 7,341.50 | ' | 7,375.20 | ' | ' |
Paid-in capital | 7,376.10 | 7,341.50 | ' | 7,375.20 | ' | ' |
Accumulated loss | -8,155.30 | -7,387.80 | ' | -6,680.20 | ' | ' |
Accumulated other comprehensive loss | -616.4 | -552.2 | ' | -598.4 | -636.9 | -681.7 |
Total First Data Corporation stockholder's deficit | -1,395.60 | -598.5 | ' | 96.6 | ' | ' |
Noncontrolling interests | 3,195.50 | 3,224.90 | ' | 3,311.40 | ' | ' |
Total equity | 1,799.90 | 2,626.40 | 2,841.80 | 3,408 | 4,059.90 | 5,100.10 |
Total liabilities and equity | $36,843.70 | $37,899 | ' | $40,276.30 | ' | ' |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, except Share data, unless otherwise specified | |||
CONSOLIDATED BALANCE SHEETS | ' | ' | ' |
Accounts receivable, allowance for doubtful accounts | $37.90 | $33.30 | $18.10 |
Property and equipment, accumulated depreciation | 1,100.40 | 1,024.30 | 842.9 |
Customer relationships, accumulated amortization | 4,284.70 | 3,839 | 3,212.70 |
Other intangibles, accumulated amortization | $1,712.80 | $1,544 | $1,282.20 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 |
Common stock, authorized shares (in shares) | 1,000 | 1,000 | 1,000 |
Common stock, issued shares (in shares) | 1,000 | 1,000 | 1,000 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' |
Net loss | ($623.90) | ($403.30) | ($527.30) | ($336.10) | ($846.90) |
Adjustments to reconcile to net cash provided by operating activities: | ' | ' | ' | ' | ' |
Depreciation and amortization (including amortization netted against equity earnings in affiliates and revenues) | 908.1 | 1,004.10 | 1,330.90 | 1,344.20 | 1,526 |
Charges (gains) related to other operating expenses and other income (expense) | 66.9 | 112.1 | 122.5 | -77.7 | 97.4 |
Other non-cash and non-operating items, net | -5.1 | -37.8 | -40.2 | 27.7 | 265.6 |
Increase (decrease) in cash, excluding the effects of acquisitions and dispositions, resulting from changes in: | ' | ' | ' | ' | ' |
Accounts receivable, current and long-term | 193.5 | 39.9 | -49.8 | 256.7 | 224.7 |
Other assets, current and long-term | 3.8 | 220.6 | 260 | 239.3 | 298.3 |
Accounts payable and other liabilities, current and long-term | -243.8 | -92.7 | -34.6 | -1.2 | -386.1 |
Income tax accounts | 32.5 | -304.7 | -294.1 | -337.3 | -424.3 |
Net cash provided by operating activities | 332 | 538.2 | 767.4 | 1,115.60 | 754.7 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | ' | ' |
Current year acquisitions, net of cash acquired | ' | -1.9 | -32.9 | -19.2 | -1.8 |
Contributions to equity method investments | ' | -7.9 | -7.9 | -161.5 | -1.4 |
Payments related to other businesses previously acquired | 0.2 | -3.2 | -4.4 | 3.2 | -1.4 |
Proceeds from dispositions, net of expenses paid and cash disposed | 14.5 | ' | ' | 1.7 | 21.2 |
Proceeds from sale of property and equipment | 4.2 | 7.8 | 8 | 17.1 | 5.5 |
Additions to property and equipment | -132.3 | -136.3 | -193.1 | -202.9 | -210.1 |
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | -128 | -141.2 | -177.2 | -201.9 | -159.6 |
Other investing activities | 7.2 | 7.3 | 10.4 | 4.9 | 18.4 |
Net cash used in investing activities | -234.2 | -275.4 | -397.1 | -558.6 | -329.2 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' |
Short-term borrowings, net | -3.1 | -22 | 99.1 | -107.3 | 75.1 |
Accrued interest funded upon issuance of notes | -6.5 | 6.5 | 6.5 | ' | ' |
Debt modification (payments) proceeds and related financing costs, net | -49 | 10.8 | 10.8 | -39.7 | -61.2 |
Principal payments on long-term debt | -72.4 | -60.2 | -83.3 | -104.5 | -220.4 |
Proceeds from sale-leaseback transactions | ' | 13.8 | 13.8 | 14.2 | ' |
Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interests | -156.5 | -199 | -261.9 | -327.3 | -216.1 |
Contributions from noncontrolling interests | ' | ' | ' | 0.8 | ' |
Purchase of noncontrolling interests | -23.7 | -25.1 | -25.1 | ' | -213.3 |
Redemption of Parent's redeemable common stock | -7.5 | -0.5 | -1.7 | -0.5 | -2.5 |
Cash dividends | -21.5 | -5.1 | -6.7 | -0.2 | -14.9 |
Net cash used in financing activities | -340.2 | -280.8 | -248.5 | -564.5 | -653.3 |
Effect of exchange rate changes on cash and cash equivalents | -7.3 | 2.5 | 0.8 | -16.3 | 0.3 |
Change in cash and cash equivalents | -249.7 | -15.5 | 122.6 | -23.8 | -227.5 |
Cash and cash equivalents at beginning of period | 608.3 | 485.7 | 485.7 | 509.5 | 737 |
Cash and cash equivalents at end of period | $358.60 | $470.20 | $608.30 | $485.70 | $509.50 |
CONSOLIDATED_STATEMENTS_OF_EQU
CONSOLIDATED STATEMENTS OF EQUITY (USD $) | Total | Accumulated Loss | Accumulated Other Comprehensive Income (Loss) | Paid-In Capital | Noncontrolling Interests | |
In Millions, unless otherwise specified | ||||||
Balance at Dec. 31, 2009 | $5,100.10 | ($5,127.30) | ($681.70) | $7,394.30 | $3,514.80 | |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | |
Distributions and dividends paid to noncontrolling interests | -188.5 | ' | ' | ' | -188.5 | |
Purchase of noncontrolling interest | -5 | ' | ' | -7.5 | 2.5 | |
Net (loss) income | [1] | -881.9 | -1,021.80 | ' | ' | 139.9 |
Other comprehensive income (loss) | 41.7 | ' | 44.8 | ' | -3.1 | |
Adjustments to redemption value of redeemable noncontrolling interest | 7 | ' | ' | 7 | ' | |
Stock compensation expense and other | 15.4 | 0.1 | ' | 15.3 | ' | |
Cash dividends paid by First Data Corporation to Parent | -14.9 | -14.9 | ' | ' | ' | |
Balance at Dec. 31, 2010 | 4,059.90 | -6,163.90 | -636.9 | 7,395.10 | 3,465.60 | |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | |
Distributions and dividends paid to noncontrolling interests | -296.1 | ' | ' | ' | -296.1 | |
Contributions from noncontrolling interests | 0.8 | ' | ' | ' | 0.8 | |
Net (loss) income | [1] | -368.1 | -516.1 | ' | ' | 148 |
Other comprehensive income (loss) | 31.6 | ' | 38.5 | ' | -6.9 | |
Adjustments to redemption value of redeemable noncontrolling interest | 38.6 | ' | ' | 38.6 | ' | |
Stock compensation expense and other | 18.7 | ' | ' | 18.7 | ' | |
Cash dividends paid by First Data Corporation to Parent | -0.2 | -0.2 | ' | ' | ' | |
Balance at Dec. 31, 2011 | 3,408 | -6,680.20 | -598.4 | 7,375.20 | 3,311.40 | |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | |
Distributions and dividends paid to noncontrolling interests | -171.6 | ' | ' | ' | -171.6 | |
Purchase of noncontrolling interest | -47.6 | ' | ' | -46.1 | -1.5 | |
Net (loss) income | [2] | -429.9 | -521.9 | ' | ' | 92 |
Other comprehensive income (loss) | 76.3 | ' | 75.8 | ' | 0.5 | |
Stock compensation expense and other | 11.7 | ' | ' | 11.7 | ' | |
Cash dividends paid by First Data Corporation to Parent | -5.1 | -5.1 | ' | ' | ' | |
Balance at Sep. 30, 2012 | 2,841.80 | -7,207.20 | -522.6 | 7,340.80 | 3,230.80 | |
Balance at Dec. 31, 2011 | 3,408 | -6,680.20 | -598.4 | 7,375.20 | 3,311.40 | |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | |
Distributions and dividends paid to noncontrolling interests | -225.9 | ' | ' | ' | -225.9 | |
Purchase of noncontrolling interest | -47.6 | ' | ' | -46.1 | -1.5 | |
Net (loss) income | [1] | -563.3 | -700.9 | ' | ' | 137.6 |
Other comprehensive income (loss) | 49.5 | ' | 46.2 | ' | 3.3 | |
Stock compensation expense and other | 12.4 | ' | ' | 12.4 | ' | |
Cash dividends paid by First Data Corporation to Parent | -6.7 | -6.7 | ' | ' | ' | |
Balance at Dec. 31, 2012 | 2,626.40 | -7,387.80 | -552.2 | 7,341.50 | 3,224.90 | |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | |
Distributions and dividends paid to noncontrolling interests | -130.5 | ' | ' | ' | -130.5 | |
Purchase of noncontrolling interest | 9 | ' | ' | 5.8 | 3.2 | |
Net (loss) income | [2] | -648.5 | -746 | ' | ' | 97.5 |
Other comprehensive income (loss) | -63.8 | ' | -64.2 | ' | 0.4 | |
Adjustments to redemption value of redeemable noncontrolling interest | -2 | ' | ' | -2 | ' | |
Stock compensation expense and other | 30.8 | ' | ' | 30.8 | ' | |
Cash dividends paid by First Data Corporation to Parent | -21.5 | -21.5 | ' | ' | ' | |
Balance at Sep. 30, 2013 | $1,799.90 | ($8,155.30) | ($616.40) | $7,376.10 | $3,195.50 | |
[1] | The total net loss presented in the Consolidated Statements of Equity for the twelve months ended December 31, 2012, 2011 and 2010 is $36.0 million, $32.0 million and $35.0 million, respectively, greater than the amount presented on the Consolidated Statements of Operations due to the net income attributable to the redeemable noncontrolling interests not included in equity. | |||||
[2] | The total net loss presented in the Consolidated Statements of Equity for the nine months ended September 30, 2013 and 2012 is $24.6 million and $26.6 million, respectively, greater than the amount presented on the Consolidated Statements of Operations due to the net income attributable to the redeemable noncontrolling interest not included in equity. |
CONSOLIDATED_STATEMENTS_OF_EQU1
CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
CONSOLIDATED STATEMENTS OF EQUITY | ' | ' | ' | ' | ' |
Net income attributable to the redeemable noncontrolling interests not included in equity | $24.60 | $26.60 | $36 | $32 | $35 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2012 | ||||||||||||||||||||
Summary of Significant Accounting Policies | ' | |||||||||||||||||||
Summary of Significant Accounting Policies | ' | |||||||||||||||||||
Note 1: Summary of Significant Accounting Policies | ||||||||||||||||||||
Business Description | ||||||||||||||||||||
First Data Corporation (“FDC” or “the Company”) operates electronic commerce businesses providing a variety of services to financial institutions, commercial establishments and consumers. Such services include merchant transaction processing and acquiring; credit, retail and debit card issuing and processing; prepaid services and check verification, settlement and guarantee services. | ||||||||||||||||||||
Consolidation | ||||||||||||||||||||
The accompanying Consolidated Financial Statements of FDC include the accounts of FDC and its controlled subsidiaries. All significant intercompany accounts and transactions have been eliminated. Investments in unconsolidated affiliated companies are accounted for under the equity method and are included in “Investment in affiliates” in the accompanying Consolidated Balance Sheets. The Company generally utilizes the equity method of accounting when it has an ownership interest of between 20% and 50% in an entity, provided the Company is able to exercise significant influence over the investee’s operations. | ||||||||||||||||||||
The Company consolidates an entity’s financial statements when the Company either will absorb a majority of the entity’s expected losses or residual returns, in the case of a variable interest entity, or has the ability to exert control over a subsidiary. Control is normally established when ownership interests exceed 50% in an entity; however, when the Company does not exercise control over a majority-owned entity as a result of other investors having rights over the management and operations of the entity, the Company accounts for the entity under the equity method. As of December 31, 2012 and 2011, there were no greater-than-50%-owned affiliates whose financial statements were not consolidated. | ||||||||||||||||||||
Use of Estimates | ||||||||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates. | ||||||||||||||||||||
Presentation | ||||||||||||||||||||
Depreciation and amortization presented as a separate line item on the Company’s Consolidated Statements of Operations does not include amortization of initial payments for new contracts which is recorded as a contra-revenue within “Transaction and processing service fees.” Also not included is amortization related to equity method investments which is netted within the “Equity earnings in affiliates” line. The following table presents the amounts associated with such amortization: | ||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||||||||||
Amortization of initial payments for new contracts | $ | 44.5 | $ | 42.5 | $ | 38.6 | ||||||||||||||
Amortization related to equity method investments | $ | 94.8 | $ | 56.7 | $ | 73 | ||||||||||||||
In 2011, the Company recorded a net $58.5 million pretax ($35.2 million after tax) benefit in the Consolidated Statement of Operations to correct cumulative depreciation and amortization errors related to purchase accounting associated with the Company’s 2007 merger with an affiliate of Kohlberg Kravis Roberts & Co. The corrections impacted “Costs of services” ($10.2 million expense), “Depreciation and amortization” ($57.7 million benefit) and amortization of equity method investments within “Equity earnings in affiliates” ($11.0 million benefit). The errors and the cumulative correction, which totaled $58.5 million in aggregate and occurred over a four year period, were deemed immaterial to prior years and the current year, respectively. | ||||||||||||||||||||
Revenue Recognition | ||||||||||||||||||||
The majority of the Company’s revenues are comprised of transaction-based fees, which typically constitute a percentage of dollar volume processed, or a fee per transaction processed, or account on file or some combination thereof. In limited circumstances, revenue is allocated to the separate units of accounting in a multiple element transaction based on relative selling prices, provided each element has stand alone value to the customer, and delivery of any undelivered items is probable and substantially within the Company’s control. | ||||||||||||||||||||
In the case of merchant contracts that the Company owns and manages, revenue is primarily comprised of fees charged to the merchant, net of interchange and assessments charged by the credit card associations, and is recognized at the time of sale. The fees charged to the merchant are a percentage of the credit card and signature based debit card transaction’s dollar value, a fixed amount or a combination of the two. Personal identification number based debit (“PIN-debit”) network fees are recognized in “Reimbursable debit network fees, postage and other” revenues and expenses in the Consolidated Statements of Operations. STAR network access fees charged to merchants are assessed on a per transaction basis. | ||||||||||||||||||||
Interchange fees and assessments charged by credit card associations to the Company’s consolidated subsidiaries and network fees related to PIN-debit transactions charged by debit networks are as follows: | ||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||||||||||
Interchange fees and assessments | $ | 18,373.00 | $ | 18,826.10 | $ | 17,834.80 | ||||||||||||||
Debit network fees | 2,786.30 | 2,959.10 | 2,798.30 | |||||||||||||||||
The Company charges processing fees to its merchant alliances. In situations where an alliance is accounted for under the equity method, the Company’s consolidated revenues include the processing fees charged to the alliance, as presented on the face of the Consolidated Statements of Operations. | ||||||||||||||||||||
Revenue from check verification, settlement and guarantee services is recognized at the time of sale less the fair value of the guarantee. The fair value of the guarantee is deferred until the later of the Company being called upon to honor the guarantee or the expiration of the guarantee. Check verification fees generally are a fixed amount per transaction while check guarantee fees generally are a percentage of the check amount. | ||||||||||||||||||||
The purchase and sale of merchant contracts is an ordinary element of the Company’s Retail and Alliance Services and International businesses, and therefore, the gains from selling these revenue-generating assets are included within the “Product sales and other” component of revenues. | ||||||||||||||||||||
Fees based on cardholder accounts on file, both active and inactive, are recognized after the requisite services or period has occurred. Fees for PIN-debit transactions where the Company is the debit card processor for the financial institution are recognized on a per transaction basis. Revenues for output services are derived primarily on a per piece basis and consist of fees for the production, materials and postage related to mailing finished products. | ||||||||||||||||||||
Software licensing revenue, which is reported in the “Product sales and other” line item of the Consolidated Statements of Operations, is not recognized until each of the following four criteria are met: evidence of an agreement exists, delivery and acceptance has occurred or services have been rendered, the selling price is fixed or determinable, and collection of the selling price is reasonably assured. | ||||||||||||||||||||
The sale and leasing of point-of-sale (“POS”) devices (“terminals”) are also reported in “Product sales and other”. Revenue for terminals sold or sold under a sales-type lease transaction is recognized when the following four criteria are met: evidence of an agreement exists, delivery has occurred, the selling price or minimum lease payments are fixed or determinable, and collection of the selling price or minimum lease payments is reasonably assured. Revenue for operating leases is recognized on a straight-line basis over the lease term. | ||||||||||||||||||||
The official check and money order services and merchant acquiring business generate revenue through the ability to invest funds pending settlement. Gains and losses associated with the above noted investments are recognized in revenue. | ||||||||||||||||||||
Services not specifically described above are generally transaction based fees that are recognized at the time the transactions are processed or programming services that are recorded as work is performed. | ||||||||||||||||||||
Stock-Based Compensation | ||||||||||||||||||||
Stock-based compensation to employees is measured at the grant date fair values of the respective stock options and restricted stock awards and expensed over the requisite service periods. An estimate of forfeitures is applied when calculating compensation expense. The Company recognizes compensation cost on awards with graded vesting on a straight-line basis over the requisite service period for the entire award. During 2010, the Company modified the terms of its plan and, due to the nature of call rights and vesting conditions associated with the options and awards, the Company will recognize expense associated with the modifications and grants subsequent to the modifications only upon the occurrence of certain liquidity or employment termination events. Refer to Note 13 of these Consolidated Financial Statements for details regarding the Company’s stock-based compensation plan. | ||||||||||||||||||||
Foreign Currency Translation | ||||||||||||||||||||
The U.S. dollar is the functional currency for most of the Company’s U.S. based businesses and certain foreign based businesses. Significant operations with a local currency as their functional currency include operations in the United Kingdom, Australia, Germany, Ireland, Greece and Argentina. Foreign currency denominated assets and liabilities for these units and other less significant operations are translated into U.S. dollars based on exchange rates prevailing at the end of the period, and revenues and expenses are translated at average exchange rates during each monthly period. The effects of foreign exchange gains and losses arising from the translation of assets and liabilities of those entities where the functional currency is not the U.S. dollar are included as a component of Other Comprehensive Income (“OCI”). Intercompany loans are generally not considered invested on a long-term basis and such foreign currency gains and losses are recorded in income. Transaction gains and losses related to operating assets and liabilities are included in the “Cost of services” and “Selling, general and administrative” lines of the Consolidated Statements of Operations and were immaterial. Non-operating transaction gains and losses derived from non-operating assets and liabilities are included in the “Other income (expense)” line of the Consolidated Statements of Operations and are separately disclosed in Note 9 of these Consolidated Financial Statements. | ||||||||||||||||||||
Derivative Financial Instruments | ||||||||||||||||||||
The Company utilizes derivative instruments to enhance its ability to manage interest rate risk and foreign exchange risk. The Company recognizes all derivative financial instruments in the Consolidated Balance Sheets as assets or liabilities at fair value. Such amounts are recorded in either the “Other current assets”, “Other long-term assets”, “Other current liabilities” or “Other long-term liabilities” captions in the Consolidated Balance Sheets. The Company’s policy is to present all derivative balances on a gross basis, without regard to counterparty master netting agreements or similar arrangements. Changes in fair value of derivative instruments are recognized immediately in earnings unless the derivative is designated and qualifies as a hedge of future cash flows or a hedge of a net investment in a foreign operation. For derivatives that qualify as hedges of future cash flows, the effective portion of changes in fair value is recorded temporarily in equity as a component of OCI and then recognized in earnings in the same period or periods during which the hedged item affects earnings. For derivatives that qualify as a hedge of a net investment in a foreign operation, the gain or loss is reported in OCI as part of the cumulative translation adjustment to the extent the hedge is effective. Any ineffective portions of cash flow hedges and net investment hedges are recognized in the “Other income (expense)” line in the Consolidated Statements of Operations during the period of change. Additional discussion of derivative instruments is provided in Note 6 of these Consolidated Financial Statements. | ||||||||||||||||||||
Noncontrolling and Redeemable Noncontrolling Interests | ||||||||||||||||||||
Noncontrolling interests represent the minority shareholders’ share of the net income or loss and equity in consolidated subsidiaries. Substantially all of the Company’s noncontrolling interests are presented pretax in the Consolidated Statements of Operations as “Net income attributable to noncontrolling interests” since the majority of the Company’s non-wholly owned consolidated subsidiaries are flow through entities for tax purposes. Noncontrolling interests are presented as a component of equity in the Consolidated Balance Sheets and reflect the original investments by these noncontrolling shareholders in the consolidated subsidiaries, along with their proportionate share of the earnings or losses of the subsidiaries, net of dividends or distributions. Noncontrolling interests that are redeemable at the option of the holder are presented outside of equity and are carried at their estimated redemption value. A noncontrolling interest is recorded on the date of acquisition based on the total fair value of the acquired entity and the noncontrolling interest’s share of that value. | ||||||||||||||||||||
Reserve for Merchant Credit Losses and Check Guarantees | ||||||||||||||||||||
With respect to the merchant acquiring business, the Company’s merchant customers (or those of its unconsolidated alliances) have the liability for any charges properly reversed by the cardholder. In the event, however, that the Company is not able to collect such amounts from the merchants due to merchant fraud, insolvency, bankruptcy or another reason, the Company may be liable for any such reversed charges. The Company’s risk in this area primarily relates to situations where the cardholder has purchased goods or services to be delivered in the future such as airline tickets. | ||||||||||||||||||||
The Company’s obligation to stand ready to perform is minimal in relation to the total dollar volume processed. The Company requires cash deposits, guarantees, letters of credit or other types of collateral from certain merchants to minimize this obligation. Collateral held by the Company is classified within “Settlement assets” and the obligation to repay the collateral if it is not needed is classified within “Settlement obligations” on the Company’s Consolidated Balance Sheets. The Company also utilizes a number of systems and procedures to manage merchant risk. Despite these efforts, the Company historically has experienced some level of losses due to merchant defaults. | ||||||||||||||||||||
The Company’s contingent obligation relates to imprecision in its estimates of required collateral. A provision for this obligation is recorded based primarily on historical experience of credit losses and other relevant factors such as economic downturns or increases in merchant fraud. Merchant credit losses are included in “Cost of services” in the Company’s Consolidated Statements of Operations. The amount of the reserves attributable to entities consolidated by the Company was $23.4 million and $31.6 million as of December 31, 2012 and 2011, respectively. | ||||||||||||||||||||
The majority of the TeleCheck Services, Inc. (“TeleCheck”) business involves the guarantee of checks received by merchants. If the check is returned, TeleCheck is required to purchase the check from the merchant at its face value and pursue collection from the check writer. A provision for estimated check returns, net of anticipated recoveries, is recorded at the transaction inception based on recent history. The following table presents the accrued warranty and recovery balances: | ||||||||||||||||||||
As of December 31, | ||||||||||||||||||||
(in millions) | 2012 | 2011 | ||||||||||||||||||
Accrued warranty balances | $ | 10.9 | $ | 11.4 | ||||||||||||||||
Accrued recovery balances | $ | 24.8 | $ | 26.8 | ||||||||||||||||
Accrued warranties are included in “Other current liabilities” and accrued recoveries are included in “Accounts receivable” in the Consolidated Balance Sheets. The maximum potential future payments under the guarantees were estimated by the Company to be approximately $1.3 billion as of December 31, 2012 which represented an estimate of the total uncleared checks at that time. | ||||||||||||||||||||
Income Taxes | ||||||||||||||||||||
The Company and its domestic subsidiaries file a consolidated U.S. income tax return with their parent, First Data Holdings, Inc. (“Holdings”). The Company’s foreign operations file income tax returns in their local jurisdictions. Income taxes are computed in accordance with current accounting guidance and reflect the net tax effects of temporary differences between the financial reporting carrying amounts of assets and liabilities and the corresponding income tax amounts. The Company has deferred tax assets and liabilities and maintains valuation allowances where it is more likely than not that all or a portion of deferred tax assets will not be realized. To the extent the Company determines that it will not realize the benefit of some or all of its deferred tax assets, then these deferred tax assets will be adjusted through the Company’s provision for income taxes in the period in which this determination is made. | ||||||||||||||||||||
The Company recognizes the tax benefits from uncertain tax positions only when it is more likely than not, based on the technical merits of the position, that the tax position will be sustained upon examination, including the resolution of any related appeals or litigation. The tax benefits recognized in the consolidated financial statements from such a position are measured as the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate resolution. | ||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||
Investments (other than those included in settlement assets) with original maturities of three months or less (that are readily convertible to cash) are considered to be cash equivalents and are stated at cost, which approximates market value. Cash and cash equivalents that were restricted from use due to regulatory requirements are included in “Other long-term assets” in the Consolidated Balance Sheets and were immaterial as of December 31, 2012 and 2011. | ||||||||||||||||||||
Accounts Receivable and Leasing Receivables | ||||||||||||||||||||
Accounts receivable balances are stated net of allowance for doubtful accounts. Historically, the Company has not incurred significant write-offs. The Company records allowances for doubtful accounts when it is probable that the accounts receivable balance will not be collected. Long-term accounts receivable balances are included in “Other long-term assets” in the Consolidated Balance Sheets. | ||||||||||||||||||||
The Company has receivables associated with its point-of-sale (“POS”) terminal leasing businesses. Leasing receivables are included in “Accounts receivable” and “Other long-term assets” in the Consolidated Balance Sheets. The Company recognizes interest income on its leasing receivables using the effective interest method. Interest income from leasing receivables is included in “Product Sales and Other” in the Consolidated Statements of Operations. For direct financing leases, the interest rate used incorporates initial direct costs included in the net investment in the lease. For sales type leases, initial direct costs are expensed as incurred. | ||||||||||||||||||||
Property and Equipment | ||||||||||||||||||||
Property and equipment are stated at cost less accumulated depreciation. Depreciation expense is computed using the straight-line method over the lesser of the estimated useful life of the related assets (generally three to 10 years for equipment, furniture and leasehold improvements, and 30 years for buildings) or the lease term. Maintenance and repairs which do not extend the useful life of the respective assets are charged to expense as incurred. The following table presents the amounts charged to expense for the depreciation and amortization of property and equipment, including equipment under capital lease: | ||||||||||||||||||||
Year ended December 31, | Amount | |||||||||||||||||||
(in millions) | ||||||||||||||||||||
2012 | $ | 284.5 | ||||||||||||||||||
2011 | 292.1 | |||||||||||||||||||
2010 | 320.4 | |||||||||||||||||||
Goodwill and Other Intangibles | ||||||||||||||||||||
Goodwill represents the excess of purchase price over tangible and intangible assets acquired less liabilities assumed arising from business combinations. Goodwill is generally allocated to reporting units based upon relative fair value (taking into consideration other factors such as synergies) when an acquired business is integrated into multiple reporting units. The Company’s reporting units are at the operating segment level or businesses one level below the operating segment level for which discrete financial information is prepared and regularly reviewed by management. When a business within a reporting unit is disposed of, goodwill is allocated to the disposed business using the relative fair value method. Relative fair value is estimated using a discounted cash flow analysis. | ||||||||||||||||||||
The Company tests goodwill annually for impairment, as well as upon an indicator of impairment, using a fair value approach at the reporting unit level. The Company estimates the fair value of each reporting unit using a discounted cash flow analysis. The Company performed its annual goodwill impairment test in the fourth quarters of 2012, 2011 and 2010. As of October 1, 2012, the most recent impairment analysis date, the fair value of each reporting unit substantially exceeded its carrying value. The Company did not record any goodwill impairment charges in 2011 or 2010. Discussion of impairments that were recorded in 2012 is included in Note 7 of these Consolidated Financial Statements. | ||||||||||||||||||||
Customer relationships represent the estimated value of the Company’s relationships with customers, primarily merchants and financial institutions, to which it provides services. Customer relationships are amortized based on the pattern of undiscounted cash flows for the period as a percentage of total projected undiscounted cash flows. The Company selected this amortization method for these customer relationships based on a conclusion that the projected undiscounted cash flows could be reliably determined. | ||||||||||||||||||||
The Company capitalizes initial payments for new contracts, contract renewals and conversion costs associated with customer processing relationships to the extent recoverable through future operations, contractual minimums and/or penalties in the case of early termination. The Company’s accounting policy is to limit the amount of capitalized costs for a given contract to the lesser of the estimated ongoing future cash flows from the contract or the termination fees the Company would receive in the event of early termination of the contract by the customer. The initial payments for new contracts and contract renewals are amortized over the term of the contract as a reduction of the associated revenue (transaction and processing service fees). Conversion costs are also amortized over the term of the contract but are recorded as an expense in “Depreciation and amortization” in the Consolidated Statements of Operations. | ||||||||||||||||||||
The Company develops software that is used in providing processing services to customers. To a lesser extent, the Company also develops software to be sold or licensed to customers. Software development costs are capitalized once technological feasibility of the software has been established. Costs incurred prior to establishing technological feasibility are expensed as incurred. Technological feasibility is established when the Company has completed all planning, designing, coding and testing activities that are necessary to determine that a product can be produced to meet its design specifications, including functions, features and technical performance requirements. Capitalization of costs ceases when the product is available for general use. Software development costs are amortized using the straight-line method over the estimated useful life of the software, which is generally five years. Software acquired in connection with business combinations is amortized using the straight-line method over the estimated useful life of the software which generally ranges from three to 10 years. | ||||||||||||||||||||
In addition to capitalized contract and software development costs, other intangibles include copyrights, patents, purchased software, trademarks and non-compete agreements acquired in business combinations. Other intangibles, except for the First Data trade name discussed below, are amortized on a straight-line basis over the length of the contract or benefit period, which generally ranges from three to 25 years. The intangible amortization expense associated with customer relationships and other intangibles, including amortization associated with investments in affiliates, was as follows: | ||||||||||||||||||||
Year ended December 31, | Amount | |||||||||||||||||||
(in millions) | ||||||||||||||||||||
2012 | $ | 1,046.40 | ||||||||||||||||||
2011 | 1,052.10 | |||||||||||||||||||
2010 | 1,205.60 | |||||||||||||||||||
The value of the First Data trade name is $603.5 million as of December 31, 2012 and 2011. Upon consideration of many factors, including the determination that there are no legal, regulatory or contractual provisions that limit the useful life of the First Data trade name, the Company determined that the First Data trade name had an indefinite useful life. The Company also considered the effects of obsolescence, demand, competition, other economic factors and ability to maintain and protect the trade name without significant expenditures. The First Data trade name is expected to contribute directly or indirectly to the future cash flows of the Company for an indefinite period. As an indefinite lived asset, the First Data trade name is not amortized but is reviewed annually for impairment until such time as it is determined to have a finite life. The First Data trade name was not impaired as of December 31, 2012 or 2011. | ||||||||||||||||||||
The following table provides the components of other intangibles: | ||||||||||||||||||||
As of December 31, | ||||||||||||||||||||
(in millions) | 2012 | 2012 | 2012 | 2011 | 2011 | 2011 | ||||||||||||||
Cost | Accumulated | Net of | Cost | Accumulated | Net of | |||||||||||||||
Amortization | Accumulated | Amortization | Accumulated | |||||||||||||||||
Amortization | Amortization | |||||||||||||||||||
Customer relationships | $ | 7,595.30 | $ | (3,839.0 | ) | $ | 3,756.30 | $ | 7,638.10 | $ | (3,212.7 | ) | $ | 4,425.40 | ||||||
Other intangibles: | ||||||||||||||||||||
Conversion costs | $ | 154.3 | $ | (56.7 | ) | $ | 97.6 | $ | 120.9 | $ | (38.9 | ) | $ | 82 | ||||||
Contract costs | 222.2 | (119.6 | ) | 102.6 | 189.9 | (88.3 | ) | 101.6 | ||||||||||||
Software | 1,544.70 | (1,098.0 | ) | 446.7 | 1,402.40 | (933.0 | ) | 469.4 | ||||||||||||
Other, including trade names | 1,451.40 | (269.7 | ) | 1,181.70 | 1,448.20 | (222.0 | ) | 1,226.20 | ||||||||||||
Total other intangibles | $ | 3,372.60 | $ | (1,544.0 | ) | $ | 1,828.60 | $ | 3,161.40 | $ | (1,282.2 | ) | $ | 1,879.20 | ||||||
The estimated future aggregate amortization expense for the next five years is as follows: | ||||||||||||||||||||
Year ended December 31, | Amount | |||||||||||||||||||
(in millions) | ||||||||||||||||||||
2013 | $ | 833.7 | ||||||||||||||||||
2014 | 748 | |||||||||||||||||||
2015 | 662.7 | |||||||||||||||||||
2016 | 507.5 | |||||||||||||||||||
2017 | 427.9 | |||||||||||||||||||
The Company tests contract and conversion costs greater than $1 million for recoverability on an annual basis by comparing the remaining expected undiscounted cash flows under the contract to the net book value. Any assets that are determined to be unrecoverable are written down to their fair value. In addition to this annual test, these assets and all other long lived assets are tested for impairment upon an indicator of potential impairment. The Company recorded impairment charges relating to other intangibles in 2012 and 2010 as described in Note 7 of these Consolidated Financial Statements. | ||||||||||||||||||||
Inventory | ||||||||||||||||||||
Inventories are stated at lower of cost or market and consist primarily of POS terminals, forms and envelopes. The cost of inventory is determined using average cost for POS terminals and first-in first-out (“FIFO”) for forms. | ||||||||||||||||||||
Investment Securities | ||||||||||||||||||||
The Company maintains investments in marketable and non-marketable securities, the majority of which are carried at fair value. These are included in the “Settlement assets”, “Other current assets”, “Long-term settlement assets” and “Other long-term assets” line items of the Consolidated Balance Sheets. | ||||||||||||||||||||
The specific identification method is used to determine the cost basis of securities sold. As of December 31, 2012 and 2011, all of the debt and equity securities were classified as available-for-sale. Unrealized gains and losses on these investments are included as a separate component of OCI, net of any related tax effect. The Company assesses marketable securities for impairment quarterly. Cost method investments are evaluated for impairment upon an indicator of impairment such as an event or change in circumstances that may have a significant adverse effect on the fair value of the investment. If no such events or changes in circumstances have occurred, the fair value is estimated only if practicable to do so. | ||||||||||||||||||||
For equity securities, declines in value that are judged to be other than temporary in nature are recognized in the Consolidated Statements of Operations. For public company equity securities, the Company’s policy is to treat a decline in the investment’s quoted market value that has lasted for more than six months as an other than temporary decline in value. | ||||||||||||||||||||
For debt securities, when the Company intends to sell an impaired debt security or it is more likely than not it will be required to sell prior to recovery of its amortized cost basis, an other-than-temporary-impairment (“OTTI”) has occurred. The impairment is recognized in earnings equal to the entire difference between the debt security’s amortized cost basis and its fair value. When the Company does not intend to sell an impaired debt security and it is not more likely than not it will be required to sell prior to recovery of its amortized cost basis, the Company assesses whether it will recover its amortized cost basis. If the entire amortized cost will not be recovered, a credit loss exists resulting in the credit loss portion of the OTTI being recognized in earnings and the amount related to all other factors recognized in OCI. Refer to Note 7 of these Consolidated Financial Statements for a detailed discussion regarding the fair value of the Company’s investments. | ||||||||||||||||||||
New Accounting Guidance | ||||||||||||||||||||
In July 2012, the Financial Accounting Standards Board issued guidance related to testing indefinite-lived intangibles for impairment. Under the amended guidance, an entity has the option of first assessing qualitative factors to determine whether events and circumstances indicate that it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount. If it is determined that the fair value is more likely than not greater than the carrying amount, then quantitative impairment testing is unnecessary. The Company adopted the amendments for its 2012 annual impairment test. After performing a qualitative assessment, the Company proceeded to a quantitative impairment test. | ||||||||||||||||||||
Restructuring
Restructuring | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||
Restructuring | ' | ' | ||||||||||||||||||||||||||||||||||
Restructuring | ' | ' | ||||||||||||||||||||||||||||||||||
Note 3: Restructuring | Note 2: Restructuring | |||||||||||||||||||||||||||||||||||
Restructuring Charges and Reversal of Restructuring Accruals | The Company recorded restructuring charges during the three years ended December 31, 2012. Restructuring accruals are reviewed each period and balances in excess of anticipated requirements are reversed through the same Consolidated Statements of Operations caption in which they were originally recorded. Such reversals resulted from the favorable resolution of contingencies and changes in facts and circumstances. | |||||||||||||||||||||||||||||||||||
A summary of net pretax benefits (charges), incurred by segment, for each period is as follows: | A summary of net pretax benefits (charges), incurred by segment, for each period is as follows: | |||||||||||||||||||||||||||||||||||
Pretax Benefit (Charge) | Pretax Benefit (Charge) | |||||||||||||||||||||||||||||||||||
(in millions) | Approximate | Retail and | Financial | International | All Other and | Totals | (in millions) | Retail and | Financial | International | All Other | Totals | ||||||||||||||||||||||||
Number of | Alliance | Services | Corporate | Alliance | Services | and | ||||||||||||||||||||||||||||||
Employees | Services | Services | Corporate | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||
Restructuring charges | 100 | $ | (1.8 | ) | $ | (3.6 | ) | $ | (0.6 | ) | $ | (4.1 | ) | $ | (10.1 | ) | Restructuring charges | $ | (7.5 | ) | $ | — | $ | (18.5 | ) | $ | (2.2 | ) | $ | (28.2 | ) | |||||
Restructuring accrual reversals | 1.2 | 0.2 | 0.6 | 0.3 | 2.3 | Restructuring accrual reversals | 1 | — | 2.8 | 1.3 | 5.1 | |||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (0.6 | ) | $ | (3.4 | ) | $ | — | $ | (3.8 | ) | $ | (7.8 | ) | Total pretax charge, net of reversals | $ | (6.5 | ) | $ | — | $ | (15.7 | ) | $ | (0.9 | ) | $ | (23.1 | ) | |||||||
Nine months ended September 30, 2013 | Year ended December 31, 2011 | |||||||||||||||||||||||||||||||||||
Restructuring charges | 460 | $ | (16.9 | ) | $ | (8.5 | ) | $ | (1.4 | ) | $ | (22.4 | ) | $ | (49.2 | ) | Restructuring charges | $ | (2.8 | ) | $ | (10.5 | ) | $ | (34.2 | ) | $ | (3.8 | ) | $ | (51.3 | ) | ||||
Restructuring accrual reversals | 1.9 | 0.2 | 0.6 | 0.5 | 3.2 | Restructuring accrual reversals | 1.1 | — | 2.5 | 1.3 | 4.9 | |||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (15.0 | ) | $ | (8.3 | ) | $ | (0.8 | ) | $ | (21.9 | ) | $ | (46.0 | ) | Total pretax charge, net of reversals | $ | (1.7 | ) | $ | (10.5 | ) | $ | (31.7 | ) | $ | (2.5 | ) | $ | (46.4 | ) | |||||
Three months ended September 30, 2012 | Year ended December 31, 2010 | |||||||||||||||||||||||||||||||||||
Restructuring charges | 10 | $ | (4.4 | ) | $ | — | $ | (1.7 | ) | $ | (1.2 | ) | $ | (7.3 | ) | Restructuring charges | $ | (20.3 | ) | $ | (11.3 | ) | $ | (28.2 | ) | $ | (27.7 | ) | $ | (87.5 | ) | |||||
Restructuring accrual reversals | — | — | 0.1 | — | 0.1 | Restructuring accrual reversals | 0.7 | 0.8 | 10.9 | 3.1 | 15.5 | |||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (4.4 | ) | $ | — | $ | (1.6 | ) | $ | (1.2 | ) | $ | (7.2 | ) | Total pretax charge, net of reversals | $ | (19.6 | ) | $ | (10.5 | ) | $ | (17.3 | ) | $ | (24.6 | ) | $ | (72.0 | ) | ||||||
Nine months ended September 30, 2012 | 2012. The Company recorded restructuring charges during 2012 primarily related to employee reduction and certain employee relocation efforts in Germany. The Company expects to record approximately $2 million of additional restructuring charges in 2013 in connection with the restructuring event in Germany. Additional restructuring charges were recorded in 2012 in connection with management’s alignment of the business with strategic objectives as well as refinements of estimates. Approximately 650 employees were impacted by the 2012 restructurings. The Company expects to record additional restructuring charges in 2013 associated with similar events and the departure of executive officers. | |||||||||||||||||||||||||||||||||||
Restructuring charges | 580 | $ | (7.4 | ) | $ | — | $ | (17.8 | ) | $ | (2.0 | ) | $ | (27.2 | ) | |||||||||||||||||||||
Restructuring accrual reversals | 1 | — | 0.8 | 1.3 | 3.1 | 2011. The 2011 restructurings resulted from the elimination of management and other positions, approximately 750 employees, as part of the Company aligning the business with strategic objectives. Partially offsetting the charges were reversals of excess 2009 and 2010 restructuring accruals as well as reversals resulting from the refinement of 2011 estimates. | ||||||||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (6.4 | ) | $ | — | $ | (17.0 | ) | $ | (0.7 | ) | $ | (24.1 | ) | ||||||||||||||||||||||
2010. The 2010 restructurings resulted from the elimination of management and other positions, approximately 1,200 employees, as part of the Company aligning the business with strategic objectives as well as domestic site consolidations and the reorganization of executive officers. Partially offsetting the charges were reversals of excess 2008 and 2009 restructuring accruals as well as reversals resulting from the refinement of 2010 estimates. | ||||||||||||||||||||||||||||||||||||
The Company recorded restructuring charges during the three and nine months ended September 30, 2013 in connection with management’s alignment of the business with strategic objectives and cost savings initiatives as well as refinements of estimates. During the nine months ended September 30, 2013, the Company also recorded restructuring charges in connection with the departure of executive officers. The Company expects to record additional charges in 2013 associated with the alignment of the business with strategic objectives and cost savings initiatives. | ||||||||||||||||||||||||||||||||||||
The following table summarizes the Company’s utilization of restructuring accruals for the years ended December 31, 2011 and 2012: | ||||||||||||||||||||||||||||||||||||
The Company recorded restructuring charges during the nine months ended September 30, 2012 primarily related to employee reduction and certain employee relocation efforts in Germany. Additional restructuring charges were recorded in 2012 in connection with management’s alignment of the business with strategic objectives as well as refinements of estimates. | ||||||||||||||||||||||||||||||||||||
(in millions) | Employee | Facility | ||||||||||||||||||||||||||||||||||
The following table summarizes the Company’s utilization of restructuring accruals for the nine months ended September 30, 2013: | Severance | Closure | ||||||||||||||||||||||||||||||||||
Remaining accrual as of January 1, 2011 | $ | 38.7 | $ | 0.2 | ||||||||||||||||||||||||||||||||
(in millions) | Employee | Expense provision | 45 | 6.3 | ||||||||||||||||||||||||||||||||
Severance | Cash payments and other | (62.2 | ) | (5.5 | ) | |||||||||||||||||||||||||||||||
Remaining accrual as of January 1, 2013 | $ | 13.1 | Changes in estimates | (4.8 | ) | (0.1 | ) | |||||||||||||||||||||||||||||
Expense provision | 49.2 | Remaining accrual as of December 31, 2011 | 16.7 | 0.9 | ||||||||||||||||||||||||||||||||
Cash payments and other | (30.3 | ) | Expense provision | 28.2 | — | |||||||||||||||||||||||||||||||
Changes in estimates | (3.2 | ) | Cash payments and other | (26.8 | ) | (0.8 | ) | |||||||||||||||||||||||||||||
Remaining accrual as of September 30, 2013 | $ | 28.8 | Changes in estimates | (5.0 | ) | (0.1 | ) | |||||||||||||||||||||||||||||
Remaining accrual as of December 31, 2012 | $ | 13.1 | $ | — | ||||||||||||||||||||||||||||||||
Business_Combinations_Asset_Ac
Business Combinations, Asset Acquisitions and Dispositions | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||
Acquisition | ' | ' | |||||||||||||||||||
Business Combinations, Asset Acquisitions and Dispositions | ' | ' | |||||||||||||||||||
Note 14: Acquisition | Note 3: Business Combinations, Asset Acquisitions and Dispositions | ||||||||||||||||||||
In April 2012, the Company acquired the remaining approximately 30 percent noncontrolling interest in Omnipay, a provider of card and electronic payment processing services to merchant acquiring banks, for approximately 37.1 million euro, of which 19.0 million euro ($25.1 million) was paid in April 2012 and the remaining 18.1 million euro ($23.7 million) was paid in April 2013. | Initial Consideration (b) | ||||||||||||||||||||
Businesses and Assets Acquired (a) | Month | Total | Cash | ||||||||||||||||||
(in millions) | |||||||||||||||||||||
2012:00:00 | |||||||||||||||||||||
Purchase of noncontrolling interest in Omnipay | April | $ | 49 | $ | 25.1 | ||||||||||||||||
Clover Network, Inc. | December | 56.1 | 36.1 | ||||||||||||||||||
Merchant portfolio acquisitions | 1.9 | 1.9 | |||||||||||||||||||
$ | 107 | $ | 63.1 | ||||||||||||||||||
2011:00:00 | |||||||||||||||||||||
Merchant portfolio acquisitions | $ | 19.2 | $ | 19.2 | |||||||||||||||||
2010:00:00 | |||||||||||||||||||||
Redemption of Rockmount Investments, LLC (“Rockmount”) put in BAMS (c) | $ | 213.3 | $ | 213.3 | |||||||||||||||||
Merchant portfolio acquisitions | 1.8 | 1.8 | |||||||||||||||||||
$ | 215.1 | $ | 215.1 | ||||||||||||||||||
(a) Includes businesses and assets consolidated by the Company upon acquisition. For information related to equity method investments refer to Note 18 of these Consolidated Financial Statements. | |||||||||||||||||||||
(b) Includes cash acquired and debt assumed. | |||||||||||||||||||||
(c) Banc of America Merchant Services, LLC (“BAMS”) | |||||||||||||||||||||
2012 Acquisitions | |||||||||||||||||||||
In April 2012, the Company acquired the remaining approximately 30 percent noncontrolling interest in Omnipay for approximately 37.1 million euro, of which 19.0 million euro ($25.1 million) was paid in April 2012 with the remainder to be paid in April 2013. | |||||||||||||||||||||
In December 2012, the Company acquired 100% of Clover Network, Inc., a provider of payment network services for total consideration of $54.1 million, net of cash acquired. The transaction consisted of net cash consideration of $34.1 million as well as a series of contingent payments based on the achievement of specified sales targets. These contingent payments are classified as purchase consideration if made to outside investors and compensation if made to current and future employees. As part of the purchase price, the Company recorded a $20 million liability for the contingent consideration due to outside investors based upon the net present value of the Company’s estimate of the future payments. The acquisition will be reported as part of the Retail and Alliance Services segment. | |||||||||||||||||||||
2012 Disposition | |||||||||||||||||||||
During the year ended December 31, 2012, contingent consideration was recorded related to a small divestiture. The transaction called for a series of contingent payments based on revenue over three years. As part of the sale price, the Company recorded a $14 million asset for the contingent consideration due based upon the net present value of the Company’s estimate of future receipts from the buyer. | |||||||||||||||||||||
2011 Disposition | |||||||||||||||||||||
In November 2011, the Company contributed the assets of its transportation business to an alliance in exchange for a 30% noncontrolling interest in that alliance, as discussed in further detail in Note 18 of these Consolidated Financial Statements, and accordingly, the transportation business was deconsolidated. | |||||||||||||||||||||
2010 Redemption | |||||||||||||||||||||
On June 26, 2009, Bank of America N.A. (“BofA”) and the Company, together with Rockmount, an investment vehicle controlled by a third-party investor, formed a new company, BAMS. BAMS provides clients with a comprehensive suite of acquiring and processing payment products for credit and debit cards as well as merchant loyalty, prepaid, check and e-commerce solutions. | |||||||||||||||||||||
At the time of the formation, the Company owned a 48.45% direct voting interest in BAMS and Bank of America N.A. (“BofA”) owned a 46.55% direct voting interest. The remaining stake in BAMS was a 5% non-voting interest held by Rockmount. The Company owned a 40% noncontrolling interest in Rockmount. In May 2010, the third party owning a controlling interest in Rockmount exercised a put right on Rockmount’s beneficial interest in BAMS requiring net cash payments from FDC of $213 million. The redemption amount was based on Rockmount’s capital account balance in BAMS immediately prior to the redemption with an additional adjustment paid by the Company and Bank of America N.A. based on the level of BAMS revenues for the trailing 12 month period ended March 31, 2010. After redemption by Rockmount, the Company owns 51% of BAMS and Bank of America N.A. owns 49%. | |||||||||||||||||||||
2010 Disposition | |||||||||||||||||||||
During 2010, the Company received a contingent payment in connection with the November 2009 sale of a merchant acquiring business. | |||||||||||||||||||||
Other Information | |||||||||||||||||||||
The following table outlines the net assets acquired and net cash paid for acquisitions (at date of acquisition) for businesses and assets other than equity method investments: | |||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||
Fair value of net assets acquired | $ | 107 | $ | 19.2 | $ | 215.1 | |||||||||||||||
Less non-cash consideration | (43.9 | ) | — | — | |||||||||||||||||
Less cash acquired | (2.0 | ) | — | — | |||||||||||||||||
Net cash paid for acquisitions | $ | 61.1 | $ | 19.2 | $ | 215.1 | |||||||||||||||
The following table presents changes to goodwill for the years ended December 31, 2011 and 2012: | |||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Divested | Totals | |||||||||||||||
Alliance | Services | and | Operations | ||||||||||||||||||
Services | Corporate | ||||||||||||||||||||
Balance as of January 1, 2011 | |||||||||||||||||||||
Goodwill | $ | 14,065.70 | $ | 3,451.40 | $ | 2,657.10 | $ | 177 | $ | 181.3 | $ | 20,532.50 | |||||||||
Accumulated impairment losses | (1,106.5 | ) | (1,395.2 | ) | (375.6 | ) | (177.0 | ) | (181.3 | ) | (3,235.6 | ) | |||||||||
12,959.20 | 2,056.20 | 2,281.50 | — | — | 17,296.90 | ||||||||||||||||
Deconsolidation (a) | (42.8 | ) | — | — | — | — | (42.8 | ) | |||||||||||||
Purchase price adjustments | — | — | (4.5 | ) | — | — | (4.5 | ) | |||||||||||||
Other adjustments (primarily foreign currency) | — | — | (45.0 | ) | — | — | (45.0 | ) | |||||||||||||
Balance as of December 31, 2011 | |||||||||||||||||||||
Goodwill | 14,022.90 | 3,451.40 | 2,607.60 | 177 | 181.3 | 20,440.20 | |||||||||||||||
Accumulated impairment losses | (1,106.5 | ) | (1,395.2 | ) | (375.6 | ) | (177.0 | ) | (181.3 | ) | (3,235.6 | ) | |||||||||
12,916.40 | 2,056.20 | 2,232.00 | — | — | 17,204.60 | ||||||||||||||||
Acquisitions | 48.9 | — | — | — | — | 48.9 | |||||||||||||||
Impairments | — | (4.5 | ) | — | — | — | (4.5 | ) | |||||||||||||
Other adjustments (primarily foreign currency) | — | — | 33.5 | — | — | 33.5 | |||||||||||||||
Balance as of December 31, 2012 | |||||||||||||||||||||
Goodwill | 14,071.80 | 3,451.40 | 2,641.10 | 177 | 181.3 | 20,522.60 | |||||||||||||||
Accumulated impairment losses | (1,106.5 | ) | (1,399.7 | ) | (375.6 | ) | (177.0 | ) | (181.3 | ) | (3,240.1 | ) | |||||||||
$ | 12,965.30 | $ | 2,051.70 | $ | 2,265.50 | $ | — | $ | — | $ | 17,282.50 | ||||||||||
(a) Relates to the deconsolidation of the Company’s transportation business. Refer to Note 18 of these Consolidated Financial Statements for additional information. | |||||||||||||||||||||
Settlement_Assets_and_Obligati
Settlement Assets and Obligations | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Settlement Assets and Obligations | ' | |||||||
Settlement Assets and Obligations | ' | |||||||
Note 4: Settlement Assets and Obligations | ||||||||
Settlement assets and obligations result from FDC's processing services and associated settlement activities, including settlement of payment transactions. Settlement assets are generated principally from merchant services transactions. Certain merchant settlement assets that relate to settlement obligations accrued by the Company are held by partner banks to which the Company does not have legal ownership but has the right to use to satisfy the related settlement obligation. FDC records corresponding settlement obligations for amounts payable to merchants and for payment instruments not yet presented for settlement. The difference in the aggregate amount of such assets and liabilities is primarily due to unrealized net investment gains and losses, which are reported as OCI in equity. Due to the short period of time between receipt of cash from the associations and payment to the merchants, which typically occurs intra-day except on weekends, the changes in settlement assets and obligations are presented on a net basis within operating activities in the Consolidated Statements of Cash Flows. Because the changes in the settlement assets balance exactly offset changes in settlement obligations, the activity nets to zero. The principal components of FDC's settlement assets and obligations are as follows: | ||||||||
As of December 31, | ||||||||
(in millions) | 2012 | 2011 | ||||||
Settlement assets: | ||||||||
Current settlement assets: | ||||||||
Cash and cash equivalents | $ | 3,790.40 | $ | 1,650.30 | ||||
Investment securities | 125.6 | 105.7 | ||||||
Due from card associations and bank partners | 4,523.40 | 8,353.30 | ||||||
Due from merchants | 734.4 | 549 | ||||||
9,173.80 | 10,658.30 | |||||||
Long-term settlement assets: | ||||||||
Investment securities | 54.3 | 181 | ||||||
$ | 9,228.10 | $ | 10,839.30 | |||||
Settlement obligations: | ||||||||
Current settlement obligations: | ||||||||
Payment instruments outstanding | $ | 289.9 | $ | 459.6 | ||||
Card settlements due to merchants | 8,936.40 | 10,378.20 | ||||||
$ | 9,226.30 | $ | 10,837.80 | |||||
Refer to Note 5 of these Consolidated Financial Statements for information concerning the Company's investment securities. | ||||||||
Investment_Securities
Investment Securities | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||
Investment Securities | ' | ' | ||||||||||||||||||||||||||||||||||||||
Investment Securities | ' | ' | ||||||||||||||||||||||||||||||||||||||
Note 10: Investment Securities | ||||||||||||||||||||||||||||||||||||||||
Note 5: Investment Securities | ||||||||||||||||||||||||||||||||||||||||
The majority of the Company’s investment securities are a component of settlement assets and represent the investment of funds received by the Company from prior sales of payment instruments (official checks and financial institution money orders) by authorized agents. The Company’s investment securities, excluding those classified as cash equivalents, within current settlement assets primarily consisted of municipal obligations as of September 30, 2013 and December 31, 2012. The Company’s long-term settlement assets were primarily comprised of student loan auction rate securities (“SLARS”) and municipal obligations as of September 30, 2013 and December 31, 2012. Realized gains and losses and other-than-temporary impairments (“OTTI”) on investments classified as settlement assets are recorded in the “Product sales and other” line item of the Consolidated Statements of Operations. The Company carried other investments, primarily cost method investments, which are included in the “Other current assets” and “Other long-term assets” line items of the Consolidated Balance Sheets and are discussed further below. Realized gains and losses on these investments are recorded in the “Other income (expense)” line item of the Consolidated Statements of Operations described in Note 2 of these Consolidated Financial Statements. | ||||||||||||||||||||||||||||||||||||||||
The majority of the Company's investment securities are a component of settlement assets and represent the investment of funds received by the Company from prior sales of payment instruments (official checks and financial institution money orders) by authorized agents. The Company's investment securities, excluding those classified as cash equivalents, within current settlement assets primarily consisted of municipal obligations as of December 31, 2012 and of municipal obligations and corporate bonds as of December 31, 2011. The Company's long-term settlement assets were primarily comprised of student loan auction rate securities ("SLARS") as of December 31, 2012 and of SLARS and U.S. Government guaranteed securities as of December 31, 2011. Realized gains and losses and OTTI on investments classified as settlement assets are recorded in the "Product sales and other" line item of the Consolidated Statements of Operations. The Company carried other investments, primarily cost method investments, which are included in the "Other current assets" and "Other long-term assets" line items of the Consolidated Balance Sheets and are discussed further below. Realized gains and losses on these investments are recorded in the "Other income (expense)" line item of the Consolidated Statements of Operations described in Note 9 of these Consolidated Financial Statements. | ||||||||||||||||||||||||||||||||||||||||
The principal components of the Company’s investment securities are as follows: | ||||||||||||||||||||||||||||||||||||||||
The principal components of the Company's investment securities are as follows: | ||||||||||||||||||||||||||||||||||||||||
(in millions) | Cost (a) | Gross | Gross | OTTI Recognized | Fair | |||||||||||||||||||||||||||||||||||
Unrealized | Unrealized | in | Value (d) | |||||||||||||||||||||||||||||||||||||
Gain | (Loss) excluding | OCI (b)(c) | (in millions) | Cost(a) | Gross | Gross | OTTI Recognized in | Fair | ||||||||||||||||||||||||||||||||
OTTI (b) | Unrealized | Unrealized | OCI(b)/(c) | Value(d) | ||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | Gain | (Loss) excluding | ||||||||||||||||||||||||||||||||||||||
Student loan auction rate securities | $ | 12.8 | $ | 0.8 | $ | — | $ | — | $ | 13.6 | OTTI(b) | |||||||||||||||||||||||||||||
Corporate bonds | 6.1 | — | — | — | 6.1 | As of December 31, 2012 | ||||||||||||||||||||||||||||||||||
State and municipal obligations | 57.3 | — | — | — | 57.3 | Student loan auction rate securities | $ | 37.6 | $ | 1.2 | $ | — | $ | — | $ | 38.8 | ||||||||||||||||||||||||
Preferred stock | 0.1 | 1.9 | — | — | 2 | Corporate bonds | 6.6 | — | — | — | 6.6 | |||||||||||||||||||||||||||||
Total available-for-sale securities | 76.3 | 2.7 | — | — | 79 | State and municipal obligations | 134.5 | — | (0.1 | ) | — | 134.4 | ||||||||||||||||||||||||||||
Cost method investments | 9.1 | — | — | — | 9.1 | Other | 0.1 | 0.5 | — | — | 0.6 | |||||||||||||||||||||||||||||
Totals | $ | 85.4 | $ | 2.7 | $ | — | $ | — | $ | 88.1 | ||||||||||||||||||||||||||||||
Total available-for-sale securities | 178.8 | 1.7 | (0.1 | ) | — | 180.4 | ||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
Student loan auction rate securities | $ | 37.6 | $ | 1.2 | $ | — | $ | — | $ | 38.8 | Cost method investments | 13.4 | — | — | — | 13.4 | ||||||||||||||||||||||||
Corporate bonds | 6.6 | — | — | — | 6.6 | |||||||||||||||||||||||||||||||||||
State and municipal obligations | 134.5 | — | (0.1 | ) | — | 134.4 | Totals | $ | 192.2 | $ | 1.7 | $ | (0.1 | ) | $ | — | $ | 193.8 | ||||||||||||||||||||||
Preferred stock | 0.1 | 0.5 | — | — | 0.6 | |||||||||||||||||||||||||||||||||||
Total available-for-sale securities | 178.8 | 1.7 | (0.1 | ) | — | 180.4 | As of December 31, 2011 | |||||||||||||||||||||||||||||||||
Cost method investments | 13.4 | — | — | — | 13.4 | Student loan auction rate securities | $ | 169.3 | $ | 1.2 | $ | — | $ | — | $ | 170.5 | ||||||||||||||||||||||||
Totals | $ | 192.2 | $ | 1.7 | $ | (0.1 | ) | $ | — | $ | 193.8 | Corporate bonds | 10.3 | — | (0.1 | ) | — | 10.2 | ||||||||||||||||||||||
State and municipal obligations | 96 | — | — | — | 96 | |||||||||||||||||||||||||||||||||||
(a) Represents amortized cost for debt securities. | U.S. Government guaranteed securities | 10 | — | — | — | 10 | ||||||||||||||||||||||||||||||||||
(b) “OTTI” refers to other-than-temporary impairments. | Other | 0.1 | 0.4 | — | — | 0.5 | ||||||||||||||||||||||||||||||||||
(c) For debt securities, represents the fair value adjustment excluding that attributable to credit losses. | ||||||||||||||||||||||||||||||||||||||||
(d) Represents cost for cost method investments. | Total available-for-sale securities | 285.7 | 1.6 | (0.1 | ) | — | 287.2 | |||||||||||||||||||||||||||||||||
The following table presents the gross unrealized losses and fair value of the Company’s investments with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position: | Cost method investments | 23.7 | — | — | — | 23.7 | ||||||||||||||||||||||||||||||||||
Less than 12 months | More than 12 months | Total | Totals | $ | 309.4 | $ | 1.6 | $ | (0.1 | ) | $ | — | $ | 310.9 | ||||||||||||||||||||||||||
(in millions) | Fair | Unrealized | Fair | Unrealized | Total | Unrealized | ||||||||||||||||||||||||||||||||||
Value | Losses | Value | Losses | Fair Value | Losses | |||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
State and municipal obligations (a) | $ | 45.3 | $ | — | $ | 0.1 | $ | — | $ | 45.4 | $ | (0.1 | ) | (a) | ||||||||||||||||||||||||||
Represents amortized cost for debt securities. | ||||||||||||||||||||||||||||||||||||||||
(a) Unrealized losses less than and greater than 12 months are less than $50,000, respectively. | (b) | |||||||||||||||||||||||||||||||||||||||
"OTTI" refers to other-than-temporary impairments. | ||||||||||||||||||||||||||||||||||||||||
All of the above investments, with the exception of cost method investments, were classified as available-for-sale. The Company uses specific identification to determine the cost of a security sold and the amount of gains and losses reclassified out of other comprehensive income (“OCI”) into the Consolidated Statements of Operations. Unrealized gains and losses on investments carried at fair value are included as a separate component of OCI, net of any related tax effects. | ||||||||||||||||||||||||||||||||||||||||
(c) | ||||||||||||||||||||||||||||||||||||||||
The following table presents additional information regarding available-for-sale securities: | For debt securities, represents the fair value adjustment excluding that attributable to credit losses. | |||||||||||||||||||||||||||||||||||||||
Three months | Nine months | (d) | ||||||||||||||||||||||||||||||||||||||
ended September 30, | ended September 30, | Represents cost for cost method investments. | ||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Proceeds from sales (a) | $ | 91.4 | $ | 104.2 | $ | 257 | $ | 271.9 | The following table presents the gross unrealized losses and fair value of the Company's investments with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position: | |||||||||||||||||||||||||||||||
Purchases | $ | 29.5 | $ | 51.8 | $ | 142.3 | $ | 142.5 | ||||||||||||||||||||||||||||||||
Gross realized gains included in earnings as a result of sales (a) | $ | 0.3 | $ | 1.1 | $ | 1.3 | $ | 4.3 | ||||||||||||||||||||||||||||||||
Net unrealized gains included in OCI, net of tax | $ | 0.3 | $ | — | $ | 2.2 | $ | 2.6 | Less than | More than | ||||||||||||||||||||||||||||||
Net gains reclassified out of OCI into earnings, net of tax | $ | 0.2 | $ | 0.8 | $ | 1.2 | $ | 2.8 | 12 months | 12 months | ||||||||||||||||||||||||||||||
(in millions) | Fair | Unrealized | Fair | Unrealized | Total | Total | ||||||||||||||||||||||||||||||||||
(a) Includes activity resulting from sales, maturities and redemptions. | Value | Losses | Value | Losses | Fair | Unrealized | ||||||||||||||||||||||||||||||||||
Value | Losses | |||||||||||||||||||||||||||||||||||||||
The following table presents maturity information for the Company’s investments in debt securities as of September 30, 2013: | As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||||
State and municipal obligations(a) | $ | 45.3 | $ | — | $ | 0.1 | $ | — | $ | 45.4 | $ | (0.1 | ) | |||||||||||||||||||||||||||
(in millions) | Fair Value | As of December 31, 2011 | ||||||||||||||||||||||||||||||||||||||
Due within one year | $ | 59.8 | Corporate bonds | $ | 10.2 | $ | (0.1 | ) | $ | — | $ | — | $ | 10.2 | $ | (0.1 | ) | |||||||||||||||||||||||
Due after one year through five years | 3.5 | |||||||||||||||||||||||||||||||||||||||
Due after 10 years | 13.7 | |||||||||||||||||||||||||||||||||||||||
Total debt securities | $ | 77 | (a) | |||||||||||||||||||||||||||||||||||||
Unrealized losses less than and greater than 12 months are less than $50,000, respectively. | ||||||||||||||||||||||||||||||||||||||||
The Company also maintained investments in non-marketable securities, held for strategic purposes (collectively referred to as “cost method investments”) which are carried at cost and included in “Other long-term assets” in the Company’s Consolidated Balance Sheets. These investments are evaluated for impairment upon an indicator of impairment such as an event or change in circumstances that may have a significant adverse effect on the fair value of the investment. As of September 30, 2013, there were no indicators of impairment. During the three months ended September 30, 2012, the Company recognized an impairment of $8.7 million related to a cost method investment due to uncertainty regarding the investee’s viability as a going concern. Where there are no indicators of impairment present, the Company estimates the fair value for the cost method investments only if it is practicable to do so. As of September 30, 2013, it was deemed impracticable to estimate the fair value on $3.8 million of cost method assets due to the lack of sufficient data upon which to develop a valuation model and the costs of obtaining an independent valuation in relation to the size of the investments. | ||||||||||||||||||||||||||||||||||||||||
All of the above investments, with the exception of cost method investments, were classified as available-for-sale. The Company uses specific identification to determine the cost of a security sold and the amount of gains and losses reclassified out of OCI into the Consolidated Statements of Operations. Unrealized gains and losses on investments carried at fair value are included as a separate component of OCI, net of any related tax effects. | ||||||||||||||||||||||||||||||||||||||||
The following table presents additional information regarding available-for-sale securities: | ||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||||||||||
Proceeds from sales(a) | $ | 156.6 | $ | 283.2 | $ | 138.1 | ||||||||||||||||||||||||||||||||||
Purchases | $ | 194.1 | $ | 269.7 | $ | 44.4 | ||||||||||||||||||||||||||||||||||
Gross realized gains included in earnings as a result of sales(a) | 4.4 | 3.6 | 6.2 | |||||||||||||||||||||||||||||||||||||
Gross realized (losses) included in earnings as a result of sales(a) | — | (2.9 | ) | (3.3 | ) | |||||||||||||||||||||||||||||||||||
Gross losses included in earnings as a result of impairment(b) | — | (5.2 | ) | (28.2 | ) | |||||||||||||||||||||||||||||||||||
Net unrealized gains or (losses) included in OCI, net of tax | 2.9 | (2.0 | ) | 7.7 | ||||||||||||||||||||||||||||||||||||
Net gains or (losses) reclassified out of OCI into earnings, net of tax | 2.7 | (2.8 | ) | (19.8 | ) | |||||||||||||||||||||||||||||||||||
(a) | ||||||||||||||||||||||||||||||||||||||||
Includes activity resulting from sales, redemptions, liquidations and related matters. | ||||||||||||||||||||||||||||||||||||||||
(b) | ||||||||||||||||||||||||||||||||||||||||
In the fourth quarter of 2010, due to new and existing state laws and regulations as well as the Company's changing views of its use of capital, the Company determined it could no longer assert that it will not more likely than not be required to sell the SLARS prior to the recovery of their fair value to amortized cost. | ||||||||||||||||||||||||||||||||||||||||
In January 2013, the company sold approximately $21 million of its holdings in SLARS resulting in a realized gain of $1.0 million. | ||||||||||||||||||||||||||||||||||||||||
The following table presents maturity information for the Company's investments in debt securities as of December 31, 2012: | ||||||||||||||||||||||||||||||||||||||||
(in millions) | Fair Value | |||||||||||||||||||||||||||||||||||||||
Due within one year | $ | 125.6 | ||||||||||||||||||||||||||||||||||||||
Due after one year through five years | 15.3 | |||||||||||||||||||||||||||||||||||||||
Due after five years through 10 years | — | |||||||||||||||||||||||||||||||||||||||
Due after 10 years | 38.9 | |||||||||||||||||||||||||||||||||||||||
Total debt securities | $ | 179.8 | ||||||||||||||||||||||||||||||||||||||
The Company also maintained investments in non-marketable securities, held for strategic purposes (collectively referred to as "cost method investments") which are carried at cost and included in "Other long-term assets" in the Company's Consolidated Balance Sheets. These investments are evaluated for impairment upon an indicator of impairment such as an event or change in circumstances that may have a significant adverse effect on the fair value of the investment. During the third quarter of 2012, the Company recognized an impairment of $8.7 million related to a cost method investment due to uncertainty regarding the investee's viability as a going concern. Where there are no indicators of impairment present, the Company estimates the fair value for the cost method investments only if it is practicable to do so. As of December 31, 2012, it was deemed impracticable to estimate the fair value on $8.0 million of cost method assets due to the lack of sufficient data upon which to develop a valuation model and the costs of obtaining an independent valuation in relation to the size of the investments. | ||||||||||||||||||||||||||||||||||||||||
Derivative_Financial_Instrumen
Derivative Financial Instruments | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||||||||
Derivative Financial Instruments | ' | ' | |||||||||||||||||||||||||||||
Derivative Financial Instruments | ' | ' | |||||||||||||||||||||||||||||
Note 11: Derivative Financial Instruments | Note 6: Derivative Financial Instruments | ||||||||||||||||||||||||||||||
Risk Management Objectives and Strategies | Risk Management Objectives and Strategies | ||||||||||||||||||||||||||||||
The Company is exposed to various financial and market risks, including those related to changes in interest rates and foreign currency exchange rates, that exist as part of its ongoing business operations. The Company utilizes certain derivative financial instruments to enhance its ability to manage these risks. | The Company is exposed to various financial and market risks, including those related to changes in interest rates and foreign currency exchange rates, that exist as part of its ongoing business operations. The Company utilizes certain derivative financial instruments to enhance its ability to manage these risks. | ||||||||||||||||||||||||||||||
The Company uses derivative instruments (i) to mitigate cash flow risks with respect to changes in interest rates (forecasted interest payments on variable rate debt), (ii) to maintain a desired ratio of fixed rate and floating rate debt, and (iii) to protect the net investment in certain foreign subsidiaries and/or affiliates and intercompany loans with respect to changes in foreign currency exchange rates. | The Company uses derivative instruments (i) to mitigate cash flow risks with respect to changes in interest rates (forecasted interest payments on variable rate debt), (ii) to maintain a desired ratio of fixed rate and floating rate debt, and (iii) to protect the net investment in certain foreign subsidiaries and/or affiliates and intercompany loans with respect to changes in foreign currency exchange rates. | ||||||||||||||||||||||||||||||
Derivative instruments are entered into for periods consistent with related underlying exposures and do not constitute positions independent of those exposures. The Company applies strict policies to manage each of these risks, including prohibition against derivatives trading, derivatives market-making or any other speculative activities. Although most of the Company’s derivatives do not qualify for hedge accounting, they are maintained for economic hedge purposes and are not considered speculative. | Derivative instruments are entered into for periods consistent with related underlying exposures and do not constitute positions independent of those exposures. The Company applies strict policies to manage each of these risks, including prohibition against derivatives trading, derivatives market-making or any other speculative activities. Although most of the Company’s derivatives do not qualify for hedge accounting, they are maintained for economic hedge purposes and are not considered speculative. | ||||||||||||||||||||||||||||||
The Company’s policy is to manage its cash flow and net investment exposures related to adverse changes in interest rates and foreign currency exchange rates. The Company’s objective is to engage in risk management strategies that provide adequate downside protection. | The Company’s policy is to manage its cash flow and net investment exposures related to adverse changes in interest rates and foreign currency exchange rates. The Company’s objective is to engage in risk management strategies that provide adequate downside protection. | ||||||||||||||||||||||||||||||
Accounting for Derivative Instruments and Hedging Activities | Accounting for Derivative Instruments and Hedging Activities | ||||||||||||||||||||||||||||||
With respect to derivative instruments that are afforded hedge accounting, the effective portion of changes in the fair value of a derivative that is designated as a cash flow hedge is recorded in OCI and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Changes in the fair value of a net investment hedge that qualifies for hedge accounting are recorded as part of the cumulative translation adjustment in OCI to the extent the hedge is effective. Any ineffectiveness associated with designated cash flow hedges, as well as any change in the fair value of a derivative that is not designated as a hedge, is recorded immediately in “Other income (expense)” in the Consolidated Statements of Operations. | With respect to derivative instruments that are afforded hedge accounting, the effective portion of changes in the fair value of a derivative that is designated as a cash flow hedge is recorded in OCI and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Changes in the fair value of a net investment hedge that qualifies for hedge accounting are recorded as part of the cumulative translation adjustment in OCI to the extent the hedge is effective. Any ineffectiveness associated with designated cash flow hedges, as well as any change in the fair value of a derivative that is not designated as a hedge, is recorded immediately in “Other income (expense)” in the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||
The Company formally documents all relationships between hedging instruments and the underlying hedged items, as well as its risk management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives that have been designated as cash flow hedges to forecasted transactions and net investment hedges to the underlying investment in a foreign subsidiary or affiliate. The Company formally assesses, both at inception of the hedge and on an ongoing basis, whether the hedge is highly effective in offsetting changes in cash flows or foreign currency exposure of the underlying hedged items. The Company also performs an assessment of the probability of the forecasted transactions on a periodic basis. If it is determined that a derivative ceases to be highly effective during the term of the hedge or if the forecasted transaction is no longer probable, the Company discontinues hedge accounting prospectively for such derivative. | The Company formally documents all relationships between hedging instruments and the underlying hedged items, as well as its risk management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives that have been designated as cash flow hedges to forecasted transactions and net investment hedges to the underlying investment in a foreign subsidiary or affiliate. The Company formally assesses, both at inception of the hedge and on an ongoing basis, whether the hedge is highly effective in offsetting changes in cash flows or foreign currency exposure of the underlying hedged items. The Company also performs an assessment of the probability of the forecasted transactions on a periodic basis. If it is determined that a derivative ceases to be highly effective during the term of the hedge or if the forecasted transaction is no longer probable, the Company discontinues hedge accounting prospectively for such derivative. | ||||||||||||||||||||||||||||||
Credit Risk | Credit Risk | ||||||||||||||||||||||||||||||
The Company monitors the financial stability of its derivative counterparties and all counterparties remain highly-rated (in the “A” category or higher). The credit risk inherent in these agreements represents the possibility that a loss may occur from the nonperformance of a counterparty to the agreements. The Company performs a review at inception of the hedge, as circumstances warrant, and at least on a quarterly basis of the credit risk of these counterparties. The Company also monitors the concentration of its contracts with individual counterparties. The Company’s exposures are in liquid currencies (primarily in U.S. dollars, euros, Australian dollars, British pounds and Canadian dollars), so there is minimal risk that appropriate derivatives to maintain the hedging program would not be available in the future. | The Company monitors the financial stability of its derivative counterparties and all counterparties remain highly-rated (in the “A” category or higher). The credit risk inherent in these agreements represents the possibility that a loss may occur from the nonperformance of a counterparty to the agreements. The Company performs a review at inception of the hedge, as circumstances warrant, and at least on a quarterly basis of the credit risk of these counterparties. The Company also monitors the concentration of its contracts with individual counterparties. The Company’s exposures are in liquid currencies (primarily in U.S. dollars, euros and Australian dollars), so there is minimal risk that appropriate derivatives to maintain the hedging program would not be available in the future. | ||||||||||||||||||||||||||||||
Summary of Derivative Instruments | Summary of Derivative Instruments | ||||||||||||||||||||||||||||||
The Company’s derivative instruments portfolio was comprised of the following: | The Company’s derivative instruments portfolio was comprised of the following: | ||||||||||||||||||||||||||||||
Notional value (in millions) | As of September 30, | As of December 31, | Notional value (in millions) | As of December 31, | As of December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | ||||||||||||||||||||||||||||
Interest rate contracts | USD | 5,750 | USD | 5,750 | Interest rate contracts | USD | 5,750 | USD | 5,750 | ||||||||||||||||||||||
Foreign exchange contracts | EUR | 221.5 | EUR | 91.1 | Foreign exchange contracts | EUR | 91.1 | EUR | 91.1 | ||||||||||||||||||||||
Foreign exchange contracts | AUD | 215 | AUD | 115 | Foreign exchange contracts | AUD | 115 | AUD | 115 | ||||||||||||||||||||||
Foreign exchange contracts | GBP | 100 | GBP | — | Forward-starting interest rate contracts | USD | — | USD | 3,000 | ||||||||||||||||||||||
Foreign exchange contracts | CAD | 75 | CAD | — | |||||||||||||||||||||||||||
In January of 2013, the Company’s cross-currency swap with an aggregate notional value of 69.6 million euro expired. In January and February of 2013, the Company entered into cross-currency swaps with aggregate notional values of 100.0 million Australian dollars and 200.0 million euro that were designated as hedges of net investments in foreign operations. | |||||||||||||||||||||||||||||||
Derivatives Not Qualifying for Hedge Accounting. During the nine months ended September 30, 2013 and 2012, the Company held certain derivative instruments that functioned as economic hedges but no longer qualified or were not designated to qualify for hedge accounting. Such instruments included cross-currency swaps held in order to mitigate foreign currency exposure on intercompany loans and a portion of the Company’s net investment in its European operations, interest rate swaps held in order to mitigate the exposure to interest rate fluctuations on interest payments related to variable rate debt and a fixed to floating interest rate swap held to maintain a desired ratio of fixed and variable rate debt. | |||||||||||||||||||||||||||||||
Derivatives Not Qualifying For Hedge Accounting. During the twelve months ended December 31, 2012 and 2011, the Company held certain derivative instruments that functioned as economic hedges but no longer qualified or were not designated to qualify for hedge accounting. Such instruments included cross-currency swaps held in order to mitigate foreign currency exposure on intercompany loans and a portion of the Company’s net investment in its European operations, interest rate swaps held in order to mitigate the exposure to interest rate fluctuations on interest payments related to variable rate debt and a fixed to floating interest rate swap held to maintain a desired ratio of fixed and variable rate debt. | |||||||||||||||||||||||||||||||
Interest rate swaps held during the nine months ended September 30, 2012 with a combined notional value of $5.0 billion expired in September 2012. The Company held forward-starting interest rate swaps with a combined notional value of $5.0 billion which became effective upon expiration of the prior instruments. The interest rate swaps are intended to mitigate exposure to fluctuations in interest rates as the prior interest rate swaps and will expire in September 2016. The Company did not designate the swaps as hedges for accounting purposes. | |||||||||||||||||||||||||||||||
Interest rate swaps with a combined notional value of $5.0 billion expired in September 2012. During the third quarter of 2011 and the first quarter of 2012, the Company entered into forward-starting interest rate swaps with a combined notional value of $3.0 billion and $2.0 billion, respectively, all of which became effective upon expiration of the existing instruments. The interest rate swaps are intended to mitigate exposure to fluctuations in interest rates and will expire in September 2016. The Company did not designate the swaps as hedges for accounting purposes. | |||||||||||||||||||||||||||||||
During the nine months ended September 30, 2013 and 2012, the Company held cross-currency swaps not qualifying for hedge accounting with a total notional value of 21.5 million euro (approximately $29.1 million at September 30, 2013) and 91.1 million euro, respectively. In January of 2013, the Company’s cross-currency swap with an aggregate notional value of 69.6 million euro expired. | |||||||||||||||||||||||||||||||
During 2011, the Company entered into a fixed to floating interest rate swap in order to preserve the ratio of fixed and floating debt. The swap has a notional value of $750.0 million and expires on June 15, 2019, but is subject to a mandatory put that will result in cash settlement on June 15, 2015. | |||||||||||||||||||||||||||||||
During the first quarter of 2012, an interest rate swap with a total notional value of $500 million ceased to qualify for hedge accounting treatment and the Company therefore de-designated the cash flow hedge from the beginning of the quarter. For this and for previous cash flow hedge de-designations, the amount carried in OCI as of the date of de-designation was subsequently reclassified into earnings in the same periods during which the forecasted transactions affected earnings. As of September 30, 2013, there are no longer any losses carried in OCI related to interest rate swaps that are expected to be reclassified into the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||
During the three months ended March 31, 2011, the Company held a foreign exchange rate collar with a notional value of $1.9 million that expired on March 31, 2011. | |||||||||||||||||||||||||||||||
For information on the location and amounts of derivative fair values in the Consolidated Balance Sheets, derivative gains and losses in the Consolidated Statements of Operations and accumulated derivative gains and losses in OCI, refer to the tables presented below. | |||||||||||||||||||||||||||||||
During the third quarter of 2010, five interest rate swaps with a total notional balance of $2.5 billion and one basis rate swap with a notional balance of $1.0 billion expired. | |||||||||||||||||||||||||||||||
Derivatives that Qualify for Hedge Accounting | |||||||||||||||||||||||||||||||
As of December 31, 2012 and 2011, the Company held cross-currency swaps not qualifying for hedge accounting with a total notional value of 91.1 million euro (approximately $120.5 million at December 31, 2012). In January of 2013, the Company’s cross-currency swap with an aggregate notional value of 69.6 million euro expired. | |||||||||||||||||||||||||||||||
Hedges of net investments in foreign operations. During the first quarter of 2013, the Company entered into cross-currency swaps with aggregate notional values of 100.0 million Australian dollars and 200.0 million euro that were designated as hedges of net investments in foreign operations. During the third quarter of 2013, the Company entered into cross-currency swaps with aggregate notional values of 100.0 million British pounds and 75.0 million Canadian dollars that were designated as hedges of net investments in foreign operations. As of September 30, 2013, the Company held cross-currency swaps with an aggregate notional value of 215.0 million Australian dollars (approximately $201.4 million at September 30, 2013), 200.0 million euro (approximately $270.5 million at September 30, 2013), 100.0 million British pounds (approximately $160.8 million at September 30, 2013) and 75.0 million Canadian dollars (approximately $72.7 million at September 30, 2013). As of September 30, 2012, the Company held a cross-currency swap with an aggregate notional value of 115.0 million Australian dollars that was designated as a hedge of a net investment in a foreign operation. | |||||||||||||||||||||||||||||||
During 2012, 2011, and 2010, certain interest rate swaps previously designated as hedges for accounting purposes ceased to qualify for hedge accounting treatment. The Company therefore de-designated the hedges and ceased to apply hedge accounting from the beginning of the quarter during which the respective de-designations occurred. The amount carried in OCI as of the date of de-designation was subsequently reclassified into earnings in the same periods during which the forecasted transactions affect earnings. As of December 31, 2012, there are no longer any losses carried in OCI related to interest rate swaps that are expected to be reclassified into the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||
Cash flow hedges. As of September 30, 2013 and 2012, the Company did not have any interest rate swaps that were designated as cash flow hedges of the variability in the interest payments on its debt. | |||||||||||||||||||||||||||||||
For information on the location and amounts of derivative fair values in the Consolidated Balance Sheets, derivative gains and losses in the Consolidated Statements of Operations and accumulated derivative gains and losses in OCI, refer to the tables presented below. | |||||||||||||||||||||||||||||||
For information on the location and amounts of derivative fair values in the Consolidated Balance Sheets, derivative gains and losses in the Consolidated Statements of Operations and accumulated derivative gains and losses in OCI, refer to the tables presented below. | |||||||||||||||||||||||||||||||
Derivatives That Qualify for Hedge Accounting. | |||||||||||||||||||||||||||||||
Fair Value of Derivative Instruments | |||||||||||||||||||||||||||||||
Hedge of a net investment in a foreign operation.As of December 31, 2012 and 2011, the Company held a cross-currency swap with an aggregate notional value of 115.0 million Australian dollars (approximately $119.3 million at December 31, 2012) that was designated as a hedge of a net investment in a foreign operation. | |||||||||||||||||||||||||||||||
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | |||||||||||||||||||||||||||||||
In January and February of 2013, the Company entered into cross-currency swaps that were designated as hedges of net investments in foreign operations, as discussed above. | |||||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||
(in millions) | Assets (a)(c) | Liabilities (b)(c) | Cash flow hedges.As of December 31, 2012, the Company did not have any interest rate swaps that were designated as cash flow hedges of the variability in the interest payments on its debt. As of December 31, 2011, the Company held interest rate swaps which were designated as cash flow hedges of the variability in the interest payments on $500 million of variable rate senior secured term loans which expired in September 2012. Since December 31, 2011, these designated cash flow hedges ceased to be highly effective in offsetting the variability in the interest payments, due in part to their approaching maturity dates, and were de-designated. Until the de-designation date of these cash flow hedges, the Company followed the hypothetical derivative method to measure hedge ineffectiveness which resulted mostly from the hedges being off-market at the time of designation, and any ineffectiveness was recognized immediately in the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||||||
Foreign exchange contracts | $ | 11.1 | $ | (29.2 | ) | During the third quarter of 2010, two basis rate swaps with a total notional balance of $3.0 billion expired. | |||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||
Interest rate contracts | 62.2 | (116.9 | ) | For information on the location and amounts of derivative fair values in the Consolidated Balance Sheets, derivative gains and losses in the Consolidated Statements of Operations and accumulated derivative gains and losses in OCI, refer to the tables presented below. | |||||||||||||||||||||||||||
Foreign exchange contracts | — | (2.4 | ) | ||||||||||||||||||||||||||||
Total derivatives not designated as hedging instruments | 62.2 | (119.3 | ) | Fair Value of Derivative Instruments | |||||||||||||||||||||||||||
Total derivatives | $ | 73.3 | $ | (148.5 | ) | ||||||||||||||||||||||||||
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | |||||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||
(in millions) | Assets (a)(c) | Liabilities (b)(c) | As of December 31, 2012 | ||||||||||||||||||||||||||||
Derivative designated as hedging instrument: | (in millions) | Assets (a)(c) | Liabilities (b)(c) | ||||||||||||||||||||||||||||
Foreign exchange contract | $ | — | $ | (32.8 | ) | Derivatives designated as hedging instruments | |||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | Foreign exchange contract | $ | — | $ | (32.8 | ) | |||||||||||||||||||||||||
Interest rate contracts | 90.8 | (137.7 | ) | Derivatives not designated as hedging instruments | |||||||||||||||||||||||||||
Foreign exchange contracts | 10.1 | (1.6 | ) | Interest rate contracts | 90.8 | (137.7 | ) | ||||||||||||||||||||||||
Total derivatives not designated as hedging instruments | 100.9 | (139.3 | ) | Foreign exchange contracts | 10.1 | (1.6 | ) | ||||||||||||||||||||||||
Total derivatives | $ | 100.9 | $ | (172.1 | ) | Total derivatives not designated as hedging instruments | 100.9 | (139.3 | ) | ||||||||||||||||||||||
Total derivatives | $ | 100.9 | $ | (172.1 | ) | ||||||||||||||||||||||||||
(a) Derivative assets are included in the “Other current assets” and “Other long-term assets” lines of the Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||
(b) Derivative liabilities are included in the “Other current liabilities” and “Other long-term liabilities” lines of the Consolidated Balance Sheets. | As of December 31, 2011 | ||||||||||||||||||||||||||||||
(c) The Company presents all derivative balances on a gross basis, without regard to counterparty master netting agreements or similar arrangements. Of the balances included in the table above, $73.3 million of assets and $115.5 million of liabilities, net $42.2 million, as of September 30, 2013 and $100.9 million of assets and $126.0 million of liabilities, net $25.1 million, as of December 31, 2012 are subject to master netting agreements with the counterparties. The terms of those agreements require that the Company net settle the outstanding positions at the option of the counterparty upon certain events of default. | (in millions) | Assets (a)(c) | Liabilities (b)(c) | ||||||||||||||||||||||||||||
Derivatives designated as hedging instruments | |||||||||||||||||||||||||||||||
The Effect of Derivative Instruments on the Consolidated Statements of Operations | Interest rate contract | $ | — | $ | (12.8 | ) | |||||||||||||||||||||||||
Foreign exchange contract | — | (27.1 | ) | ||||||||||||||||||||||||||||
Three months ended September 30, | Total derivatives designated as hedging instruments | — | (39.9 | ) | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||
(in millions, pretax) | Interest | Foreign | Interest | Foreign | Derivatives not designated as hedging instruments | ||||||||||||||||||||||||||
Rate | Exchange | Rate | Exchange | Interest rate contracts | $ | 65.4 | $ | (143.9 | ) | ||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | Foreign exchange contracts | 10.9 | (0.7 | ) | ||||||||||||||||||||||||
Derivatives in cash flow hedging relationships: | Forward-starting interest rate contracts | — | (11.9 | ) | |||||||||||||||||||||||||||
Amount of gain or (loss) reclassified from accumulated OCI into income (a) | $ | — | $ | — | $ | (37.9 | ) | $ | — | Total derivatives not designated as hedging instruments | 76.3 | (156.5 | ) | ||||||||||||||||||
Derivative in net investment hedging relationships: | Total derivatives | $ | 76.3 | $ | (196.4 | ) | |||||||||||||||||||||||||
Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | $ | (20.3 | ) | $ | — | $ | (3.7 | ) | |||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||
Amount of gain or (loss) recognized in income (b) | $ | (24.3 | ) | $ | (1.2 | ) | $ | (41.2 | ) | $ | (1.8 | ) | (a) Derivative assets are included in the “Other current assets” and “Other long-term assets” lines of the Consolidated Balance Sheets. | ||||||||||||||||||
(b) Derivative liabilities are included in the “Other current liabilities” and “Other long-term liabilities” lines of the Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||
Nine months ended September 30, | (c) The Company’s policy is to present all derivative balances on a gross basis, without regard to counterparty master netting agreements or similar arrangements. | ||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||
(in millions, pretax) | Interest | Foreign | Interest | Foreign | The Effect of Derivative Instruments on the Consolidated Statements of Operations | ||||||||||||||||||||||||||
Rate | Exchange | Rate | Exchange | ||||||||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | Year ended December 31, | |||||||||||||||||||||||||||
Derivatives in cash flow hedging relationships: | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||
Amount of gain or (loss) reclassified from accumulated OCI into income (a) | $ | — | $ | — | $ | (114.8 | ) | $ | — | (in millions, pretax) | Interest | Foreign | Interest | Foreign | Interest | Foreign | |||||||||||||||
Derivative in net investment hedging relationships: | Rate | Exchange | Rate | Exchange | Rate | Exchange | |||||||||||||||||||||||||
Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | $ | 11.7 | $ | — | $ | (7.1 | ) | Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | ||||||||||||||||
Derivatives not designated as hedging instruments: | Derivatives in cash flow hedging relationships: | ||||||||||||||||||||||||||||||
Amount of gain or (loss) recognized in income (b) | $ | (10.1 | ) | $ | (1.2 | ) | $ | (88.4 | ) | $ | 1.6 | Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | — | $ | 61.3 | — | $ | (26.2 | ) | — | |||||||||
Amount of gain or (loss) reclassified from accumulated OCI into income (a) | (114.9 | ) | — | (93.0 | ) | — | (145.7 | ) | — | ||||||||||||||||||||||
(a) Gain (loss) is recognized in the “Interest expense” line of the Consolidated Statements of Operations. | Amount of gain or (loss) recognized in income (ineffective portion) (b) | — | — | (2.3 | ) | — | (6.3 | ) | — | ||||||||||||||||||||||
(b) Gain (loss) is recognized in the “Other income (expense)” line of the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||
Derivatives in net investment hedging relationships: | |||||||||||||||||||||||||||||||
Accumulated Derivatives Gains and Losses | Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | (9.2 | ) | $ | — | (9.4 | ) | $ | — | (14.8 | ) | ||||||||||||||||||
Amount of gain or (loss) recognized in income (ineffective portion) (b) | — | — | — | — | — | 0.5 | |||||||||||||||||||||||||
The following table summarizes activity in other comprehensive income for the nine months ended September 30, 2013 related to derivative instruments classified as net investment hedges held by the Company: | Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||||||
Amount of gain or (loss) recognized in income (b) | $ | (89.9 | ) | (1.5 | ) | $ | 58 | 2.5 | $ | (61.6 | ) | 9.1 | |||||||||||||||||||
(in millions, after tax) | Nine months ended | ||||||||||||||||||||||||||||||
September 30, 2013 | (a) Gain (loss) is recognized in the “Interest expense” line of the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||
Accumulated loss included in other comprehensive income (loss) at beginning of the period | $ | (21.1 | ) | (b) Gain (loss) is recognized in the “Other income (expense)” line of the Consolidated Statements of Operations. | |||||||||||||||||||||||||||
Increase in fair value of derivative that qualifies for hedge accounting (a) | 11.5 | ||||||||||||||||||||||||||||||
Accumulated gain included in other comprehensive income (loss) at end of the period | $ | (9.6 | ) | Accumulated Derivative Gains and Losses | |||||||||||||||||||||||||||
(a) Gains and losses are included in “Foreign currency translation adjustment” on the Consolidated Statements of Comprehensive Income (Loss). | The following table summarizes activity in other comprehensive income for the years ended December 31, 2012 and 2011 related to derivative instruments classified as cash flow hedges and a net investment hedge held by the Company: | ||||||||||||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||||||||||||
(in millions, after tax) | 2012 | 2011 | |||||||||||||||||||||||||||||
Accumulated loss included in other comprehensive income (loss) at beginning of the period | $ | (87.6 | ) | $ | (181.3 | ) | |||||||||||||||||||||||||
Less: Reclassifications into earnings from other comprehensive income (loss) | 72.2 | 60.2 | |||||||||||||||||||||||||||||
(15.4 | ) | (121.1 | ) | ||||||||||||||||||||||||||||
Increase in fair value of derivatives that qualify for hedge accounting (a) | (5.7 | ) | 33.5 | ||||||||||||||||||||||||||||
Accumulated loss included in other comprehensive income (loss) at end of the period | $ | (21.1 | ) | $ | (87.6 | ) | |||||||||||||||||||||||||
(a) Gains and losses are included in “Unrealized gains on hedging activities” and in “Foreign currency translation adjustment” on the Consolidated Statements of Comprehensive Income (Loss). | |||||||||||||||||||||||||||||||
Fair_Value_Measurement
Fair Value Measurement | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||
Fair Value Measurement | ' | ' | ||||||||||||||||||||||||||
Fair Value Measurement | ' | ' | ||||||||||||||||||||||||||
Note 12: Fair Value Measurement | Note 7: Fair Value Measurement | |||||||||||||||||||||||||||
Fair Value of Financial Instruments | Fair value of financial instruments | |||||||||||||||||||||||||||
Carrying amounts for certain of the Company’s financial instruments (cash and cash equivalents and short-term borrowings) approximate fair value due to their short maturities. Accordingly, these instruments are not presented in the following table. The following table provides the estimated fair values of the remaining financial instruments: | Carrying amounts for certain of the Company’s financial instruments (cash and cash equivalents and short-term borrowings) approximate fair value due to their short maturities. Accordingly, these instruments are not presented in the following table. The following table provides the estimated fair values of the remaining financial instruments: | |||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | As of December 31, 2011 | ||||||||||||||||||||||||||
(in millions) | Carrying | Fair Value (a) | (in millions) | Carrying Value | Fair Value (a) | Carrying Value | Fair Value (a) | |||||||||||||||||||||
Value | Financial instruments: | |||||||||||||||||||||||||||
Financial instruments: | Settlement assets: | |||||||||||||||||||||||||||
Settlement assets: | Short-term investment securities | $ | 125.6 | $ | 125.6 | $ | 105.7 | $ | 105.7 | |||||||||||||||||||
Short-term investment securities | $ | 59.8 | $ | 59.8 | Long-term investment securities | $ | 54.3 | $ | 54.3 | $ | 181 | $ | 181 | |||||||||||||||
Long-term investment securities | $ | 18.6 | $ | 18.6 | Other current assets: | |||||||||||||||||||||||
Other current assets: | Derivative financial instruments | $ | 11.1 | $ | 11.1 | $ | — | $ | — | |||||||||||||||||||
Derivative financial instruments | $ | 6.7 | $ | 6.7 | Other long-term assets: | |||||||||||||||||||||||
Other long-term assets: | Long-term investment securities | $ | 0.5 | $ | 0.5 | $ | 0.5 | $ | 0.5 | |||||||||||||||||||
Long-term investment securities | $ | 0.6 | $ | 0.6 | Cost method investments | $ | 13.4 | $ | 13.4 | $ | 23.7 | $ | 23.7 | |||||||||||||||
Cost method investments | $ | 9.1 | $ | 9.1 | Derivative financial instruments | $ | 89.8 | $ | 89.8 | $ | 76.3 | $ | 76.3 | |||||||||||||||
Derivative financial instruments | $ | 66.6 | $ | 66.6 | Other current liabilities: | |||||||||||||||||||||||
Other current liabilities: | Derivative financial instruments | $ | 0.3 | $ | 0.3 | $ | 156.7 | $ | 156.7 | |||||||||||||||||||
Derivative financial instruments | $ | 21.6 | $ | 21.6 | Long-term borrowings: | |||||||||||||||||||||||
Long-term borrowings: | Long-term borrowings | $ | 22,528.90 | $ | 22,732.60 | $ | 22,521.70 | $ | 20,189.80 | |||||||||||||||||||
Long-term borrowings | $ | 22,565.10 | $ | 23,359.30 | Other long-term liabilities: | |||||||||||||||||||||||
Other long-term liabilities: | Derivative financial instruments | $ | 171.8 | $ | 171.8 | $ | 39.7 | $ | 39.7 | |||||||||||||||||||
Derivative financial instruments | $ | 126.9 | $ | 126.9 | ||||||||||||||||||||||||
(a) Represents cost for cost method investments. Refer to Note 10 of these Consolidated Financial Statements for a more detailed discussion of cost method investments. | (a) Represents cost for cost method investments. Refer to Note 5 of these Consolidated Financial Statements for a more detailed discussion of cost method investments. | |||||||||||||||||||||||||||
The estimated fair values of investment securities and derivative financial instruments are described below. Refer to Notes 10 and 11 of these Consolidated Financial Statements for additional information regarding the Company’s investment securities and derivative financial instruments, respectively. | The estimated fair values of investment securities and derivative financial instruments are described below. Refer to Notes 5 and 6 of these Consolidated Financial Statements for additional information regarding the Company’s investment securities and derivative financial instruments, respectively. | |||||||||||||||||||||||||||
The estimated fair market value of FDC’s long-term borrowings was primarily based on market trading prices and is considered to be a Level 2 measurement. For additional information regarding the Company’s borrowings, refer to Note 4 of these Consolidated Financial Statements as well as to Note 8 of the Company’s Consolidated Financial Statements in Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | The estimated fair market value of FDC’s long-term borrowings was primarily based on market trading prices and is considered to be a level 2 measurement. For additional information regarding the Company’s borrowings, refer to Note 8 of these Consolidated Financial Statements. | |||||||||||||||||||||||||||
Concentration of Credit Risk | Concentration of credit risk | |||||||||||||||||||||||||||
The Company’s investment securities are diversified across multiple issuers within its investment portfolio (investment securities plus cash and cash equivalents). In addition to investment securities, the Company maintains other financial instruments with various financial institutions. The Company’s largest single issuer represents less than 15% of the total carrying value of the investment portfolio and the Company limits its derivative financial instruments credit risk by maintaining contracts with highly rated (in the “A” category or higher) counterparties. The Company periodically reviews the credit standings of these institutions. | The Company’s investment securities are diversified across multiple issuers within its investment portfolio (investment securities plus cash and cash equivalents). In addition to investment securities, the Company maintains other financial instruments with various financial institutions. The Company’s largest single issuer represents less than 15% of the total carrying value of the investment portfolio and the Company limits its derivative financial instruments credit risk by maintaining contracts with counterparties having a credit rating of “A” or higher. The Company periodically reviews the credit standings of these institutions. | |||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||||||||||||
Financial instruments carried and measured at fair value on a recurring basis are classified in the table below according to the fair value hierarchy: | Fair value is defined by accounting guidance as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses the hierarchy prescribed in the accounting guidance for fair value measurements, based upon the available inputs to the valuation and the degree to which they are observable or not observable in the market. The three levels in the hierarchy are as follows: | |||||||||||||||||||||||||||
As of September 30, 2013 | · Level 1 Inputs—Quoted prices (unadjusted) for identical assets or liabilities in active markets that are accessible as of the measurement date. | |||||||||||||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||||||||||||||
(in millions) | Quoted prices in | Significant other | Significant | Total | · Level 2 Inputs—Inputs other than quoted prices within Level 1 that are observable either directly or indirectly, including but not limited to quoted prices in markets that are not active, quoted prices in active markets for similar assets or liabilities and observable inputs other than quoted prices such as interest rates or yield curves. | |||||||||||||||||||||||
active markets | observable | unobservable | ||||||||||||||||||||||||||
for identical | inputs | inputs | · Level 3 Inputs—Unobservable inputs reflecting the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. | |||||||||||||||||||||||||
assets | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
(Level 1) | The Company maximizes the use of relevant observable inputs and minimizes the use of unobservable inputs. | |||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||
Settlement assets: | Financial instruments carried and measured at fair value on a recurring basis are classified in the table below according to the fair value hierarchy described above: | |||||||||||||||||||||||||||
Student loan auction rate securities | $ | — | $ | — | $ | 13.6 | $ | 13.6 | ||||||||||||||||||||
Corporate bonds | — | 6.1 | — | 6.1 | As of December 31, 2012 | |||||||||||||||||||||||
State and municipal obligations | — | 56.7 | — | 56.7 | Fair Value Measurement Using | |||||||||||||||||||||||
Preferred stock | 2 | — | — | 2 | (in millions) | Quoted prices in | Significant other | Significant | Total | |||||||||||||||||||
Total settlement assets | 2 | 62.8 | 13.6 | 78.4 | active markets | observable | unobservable | |||||||||||||||||||||
for identical assets | inputs | inputs | ||||||||||||||||||||||||||
Other current assets: | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||||
Interest rate swap contracts | — | 6.7 | — | 6.7 | Assets: | |||||||||||||||||||||||
Other long-term assets: | Settlement assets: | |||||||||||||||||||||||||||
Available-for-sale securities | — | 0.6 | — | 0.6 | Student loan auction rate securities | $ | — | $ | — | $ | 38.8 | $ | 38.8 | |||||||||||||||
Foreign currency derivative contracts | — | 11.1 | — | 11.1 | Corporate bonds | — | 6.6 | — | 6.6 | |||||||||||||||||||
Interest rate swap contracts | — | 55.5 | — | 55.5 | State and municipal obligations | — | 133.9 | — | 133.9 | |||||||||||||||||||
Total assets at fair value | $ | 2 | $ | 136.7 | $ | 13.6 | $ | 152.3 | Preferred stock | 0.6 | — | — | 0.6 | |||||||||||||||
Total settlement assets | 0.6 | 140.5 | 38.8 | 179.9 | ||||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||
Other current liabilities: | Other current assets: | |||||||||||||||||||||||||||
Foreign currency derivative contracts | $ | — | $ | 21.1 | $ | — | $ | 21.1 | Interest rate swap contracts | — | 1 | — | 1 | |||||||||||||||
Interest rate swap contracts | — | 0.5 | — | 0.5 | Foreign currency derivative contracts | — | 10.1 | 10.1 | ||||||||||||||||||||
Other long-term liabilities: | Other long-term assets: | |||||||||||||||||||||||||||
Foreign currency derivative contracts | — | 10.5 | — | 10.5 | Available-for-sale securities | — | 0.5 | — | 0.5 | |||||||||||||||||||
Interest rate swap contracts | — | 116.4 | — | 116.4 | Interest rate swap contracts | — | 89.8 | — | 89.8 | |||||||||||||||||||
Contingent consideration | — | — | 20 | 20 | Total assets at fair value | $ | 0.6 | $ | 241.9 | $ | 38.8 | $ | 281.3 | |||||||||||||||
Total liabilities at fair value | $ | — | $ | 148.5 | $ | 20 | $ | 168.5 | ||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||
As of December 31, 2012 | Other current liabilities: | |||||||||||||||||||||||||||
Fair Value Measurement Using | Interest rate swap contracts | $ | — | $ | 0.3 | $ | — | $ | 0.3 | |||||||||||||||||||
(in millions) | Quoted prices in | Significant other | Significant | Total | Other long-term liabilities: | |||||||||||||||||||||||
active markets | observable | unobservable | Foreign currency derivative contracts | — | 34.4 | — | 34.4 | |||||||||||||||||||||
for identical | inputs | inputs | Interest rate swap contracts | — | 137.4 | — | 137.4 | |||||||||||||||||||||
assets | (Level 2) | (Level 3) | Contingent consideration | — | — | 20 | 20 | |||||||||||||||||||||
(Level 1) | Total liabilities at fair value | $ | — | $ | 172.1 | $ | 20 | $ | 192.1 | |||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||
Settlement assets: | As of December 31, 2011 | |||||||||||||||||||||||||||
Student loan auction rate securities | $ | — | $ | — | $ | 38.8 | $ | 38.8 | Fair Value Measurement Using | |||||||||||||||||||
Corporate bonds | — | 6.6 | — | 6.6 | (in millions) | Quoted prices in | Significant other | Significant | Total | |||||||||||||||||||
State and municipal obligations | — | 133.9 | — | 133.9 | active markets | observable | unobservable | |||||||||||||||||||||
Preferred stock | 0.6 | — | — | 0.6 | for identical assets | inputs | inputs | |||||||||||||||||||||
Total settlement assets | 0.6 | 140.5 | 38.8 | 179.9 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||
Other current assets: | Settlement assets: | |||||||||||||||||||||||||||
Interest rate swap contracts | — | 1 | — | 1 | Student loan auction rate securities | $ | — | $ | — | $ | 170.5 | $ | 170.5 | |||||||||||||||
Foreign currency derivative contracts | — | 10.1 | — | 10.1 | Corporate bonds | — | 10.2 | — | 10.2 | |||||||||||||||||||
Other long-term assets: | State and municipal obligations | — | 95.5 | — | 95.5 | |||||||||||||||||||||||
Available-for-sale securities | — | 0.5 | — | 0.5 | U.S. Government guaranteed agency securities | — | 10 | — | 10 | |||||||||||||||||||
Interest rate swap contracts | — | 89.8 | — | 89.8 | Preferred stock | 0.5 | — | — | 0.5 | |||||||||||||||||||
Total assets at fair value | $ | 0.6 | $ | 241.9 | $ | 38.8 | $ | 281.3 | Total settlement assets | 0.5 | 115.7 | 170.5 | 286.7 | |||||||||||||||
Liabilities: | Other long-term assets: | |||||||||||||||||||||||||||
Other current liabilities: | Available-for-sale securities | — | 0.5 | — | 0.5 | |||||||||||||||||||||||
Interest rate swap contracts | $ | — | $ | 0.3 | $ | — | $ | 0.3 | Interest rate swap contracts | — | 65.4 | — | 65.4 | |||||||||||||||
Other long-term liabilities: | Foreign currency derivative contracts | — | 10.9 | — | 10.9 | |||||||||||||||||||||||
Foreign currency derivative contracts | — | 34.4 | — | 34.4 | Total other long-term assets | — | 76.8 | — | 76.8 | |||||||||||||||||||
Interest rate swap contracts | — | 137.4 | — | 137.4 | Total assets at fair value | $ | 0.5 | $ | 192.5 | $ | 170.5 | $ | 363.5 | |||||||||||||||
Contingent consideration | — | — | 20 | 20 | ||||||||||||||||||||||||
Total liabilities at fair value | $ | — | $ | 172.1 | $ | 20 | $ | 192.1 | Liabilities: | |||||||||||||||||||
Other current liabilities: | ||||||||||||||||||||||||||||
Settlement assets - student loan auction rate securities. Due to the lack of observable market activity for the SLARS held by the Company as of September 30, 2013, the Company, with the assistance of a third-party valuation firm upon which the Company in part relied, made certain assumptions, primarily relating to estimating both the weighted-average life for the securities held by the Company and the impact on the fair value of the current inability to redeem the securities at par value. All key assumptions and valuations were determined by and are the responsibility of management. The securities were valued using an income approach based on a probability-weighted discounted cash flow analysis. The Company considered each security’s key terms including date of issuance, date of maturity, auction intervals, scheduled auction dates, maximum auction rates, as well as underlying collateral, ratings, and guarantees or insurance. Due to the use of unobservable inputs, these instruments are classified as Level 3 within the fair value hierarchy. For additional information regarding the SLARS, refer to Note 10 of these Consolidated Financial Statements. | Interest rate swap contracts | $ | — | $ | 156.7 | $ | — | $ | 156.7 | |||||||||||||||||||
Other long-term liabilities: | ||||||||||||||||||||||||||||
(in millions) | Fair Value Measurement | Foreign currency derivative contracts | — | 27.8 | — | 27.8 | ||||||||||||||||||||||
Using Significant Unobservable Inputs | Forward-starting interest rate contracts | — | 11.9 | — | 11.9 | |||||||||||||||||||||||
(Level 3) | Total liabilities at fair value | $ | — | $ | 196.4 | $ | — | $ | 196.4 | |||||||||||||||||||
Student loan auction rate securities | ||||||||||||||||||||||||||||
Beginning balance as of January 1, 2013 | $ | 38.8 | Settlement assets - student loan auction rate securities. Due to the lack of observable market activity for the SLARS held by the Company as of December 31, 2012, the Company, with the assistance of a third-party valuation firm upon which the Company in part relied, made certain assumptions, primarily relating to estimating both the weighted-average life for the securities held by the Company and the impact on the fair value of the current inability to redeem the securities at par value. All key assumptions and valuations were determined by and are the responsibility of management. The securities were valued using an income approach based on a probability-weighted discounted cash flow analysis. The Company considered each security’s key terms including date of issuance, date of maturity, auction intervals, scheduled auction dates, maximum auction rates, as well as underlying collateral, ratings, and guarantees or insurance. The impact of the Company’s judgment in the valuation was significant and, accordingly, the resulting fair value was classified as Level 3 within the fair value hierarchy. A 50 basis point change in liquidity risk premium, as well as slight changes in other unobservable inputs including default probability and default recovery rate assumptions and the probability of an issuer call prior to maturity, would impact the value of the SLARS by approximately $1 million. For additional information regarding sales, settlements and impairments of the SLARS, refer to Note 5 of these Consolidated Financial Statements. | |||||||||||||||||||||||||
Total realized gains included in product sales and other | 1.3 | |||||||||||||||||||||||||||
Total unrealized losses included in other comprehensive income | (0.4 | ) | (in millions) | Fair Value Measurement | ||||||||||||||||||||||||
Sales | (26.1 | ) | Using Significant | |||||||||||||||||||||||||
Ending balance as of September 30, 2013 | $ | 13.6 | Unobservable Inputs | |||||||||||||||||||||||||
(Level 3) | ||||||||||||||||||||||||||||
Settlement assets - other available-for-sale securities. Prices for the municipal and corporate securities are not quoted on active exchanges but are priced through an independent third-party pricing service based on quotations from market-makers in the specific instruments or, where appropriate, from other market inputs. Bonds were valued under a market approach using observable inputs including reported trades, benchmark yields, broker/dealer quotes, issuer spreads and other standard inputs. Municipal paper was valued under a market approach using observable inputs including maturity date, issue date, credit rating, current commercial paper rates and settlement date. | Student loan auction rate | |||||||||||||||||||||||||||
securities | ||||||||||||||||||||||||||||
The Company’s experience with these types of investments and the expectations of the current investments held is that they will be satisfied at the current carrying amount. These securities were classified as Level 2. | Beginning balance as of January 1, 2011 | $ | 341.1 | |||||||||||||||||||||||||
Total gains or losses (realized or unrealized): | ||||||||||||||||||||||||||||
Derivative financial instruments. The Company uses derivative instruments to mitigate certain risks. The Company’s derivatives are not exchange listed and therefore the fair value is estimated under an income approach using Bloomberg analytics models that are based on readily observable market inputs. These models reflect the contractual terms of the derivatives, such as notional value and expiration date, as well as market-based observables including interest and foreign currency exchange rates, yield curves and the credit quality of the counterparties. The models also incorporate the Company’s creditworthiness in order to appropriately reflect non-performance risk. Inputs to the derivative pricing models are generally observable and do not contain a high level of subjectivity and, accordingly, the Company’s derivatives were classified within Level 2 of the fair value hierarchy. While the Company believes its estimates result in a reasonable reflection of the fair value of these instruments, the estimated values may not be representative of actual values that could have been realized or that will be realized in the near future. Refer to Note 11 of these Consolidated Financial Statements for additional information regarding the Company’s derivative financial instruments. | Included in other comprehensive income | 1.2 | ||||||||||||||||||||||||||
Included in product sales and other (a) | (4.5 | ) | ||||||||||||||||||||||||||
Contingent liabilities. During the year ended December 31, 2012, contingent consideration was recorded related to the acquisition of Clover Network, Inc. The transaction called for cash consideration as well as a series of contingent payments based on the achievement of specified sales targets. These contingent payments are classified as purchase consideration if made to outside investors and compensation if made to current and future employees. As part of the purchase price, the Company recorded a $20 million liability for the contingent consideration due to outside investors based upon the net present value of the Company’s estimate of the future payments. Subsequent measurements are made using the same methodology. This fair value measurement represents a Level 3 measurement as it is based on significant inputs not observable in the market. Significant judgment is employed in determining the appropriateness of these assumptions as of the acquisition date. The primary assumption is the estimated number of merchant locations that will be using the software in the next four years. | Sales | (158.4 | ) | |||||||||||||||||||||||||
Settlements | (8.9 | ) | ||||||||||||||||||||||||||
(in millions) | Fair Value Measurement | Transfers in (out) of Level 3 | — | |||||||||||||||||||||||||
Using Significant | Ending balance as of December 31, 2011 | 170.5 | ||||||||||||||||||||||||||
Unobservable Inputs | Total realized gains included in product sales and other | 4.4 | ||||||||||||||||||||||||||
(Level 3) | Sales | (135.6 | ) | |||||||||||||||||||||||||
Contingent consideration | Settlements | (0.5 | ) | |||||||||||||||||||||||||
Beginning balance as of January 1, 2013 | $ | 20 | Transfers in (out) of Level 3 | — | ||||||||||||||||||||||||
Contingent consideration payments | — | Ending balance as of December 31, 2012 | $ | 38.8 | ||||||||||||||||||||||||
Change in fair value of contingent consideration | — | |||||||||||||||||||||||||||
Ending balance as of September 30, 2013 | $ | 20 | ||||||||||||||||||||||||||
(a) Includes impairments of $5.2 million for the year ended December 31, 2011. | ||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | ||||||||||||||||||||||||||||
Settlement assets - other available-for-sale securities. Prices for the municipal, corporate, and U.S. Government securities are not quoted on active exchanges but are priced through an independent third-party pricing service based on quotations from market-makers in the specific instruments or, where appropriate, from other market inputs. Bonds were valued under a market approach using observable inputs including reported trades, benchmark yields, broker/dealer quotes, issuer spreads and other standard inputs. Municipal paper was valued under a market approach using observable inputs including maturity date, issue date, credit rating, current commercial paper rates and settlement date. | ||||||||||||||||||||||||||||
During the nine months ended September 30, 2013, the Company did not perform any material non-recurring fair value measurements. During the nine months ended September 30, 2012, the Company recorded impairments totaling approximately $18 million on assets with a total carrying value of approximately $38 million due to the sale, expected sale or discontinued use of certain assets. The impairments related to property and equipment, customer relationships, software, and goodwill. In addition, the Company impaired a strategic investment with a total carrying value of $8.7 million as discussed in Note 10. | ||||||||||||||||||||||||||||
The Company’s experience with these types of investments and the expectations of the current investments held is that they will be satisfied at the current carrying amount. These securities were classified as Level 2. | ||||||||||||||||||||||||||||
The fair values of the impaired assets were estimated primarily using a discounted cash flow analysis, based on management’s current cash flow projections and using assumptions that management believes are consistent with market participant assumptions. The inputs to the valuations are largely unobservable, and the measurements are accordingly classified as Level 3. All key assumptions and valuations were determined by and are the responsibility of management. | ||||||||||||||||||||||||||||
Derivative financial instruments. The Company uses derivative instruments to mitigate certain risks. The Company’s derivatives are not exchange listed and therefore the fair value is estimated under an income approach using Bloomberg analytics models that are based on readily observable market inputs. These models reflect the contractual terms of the derivatives, such as notional value and expiration date, as well as market-based observables including interest and foreign currency exchange rates, yield curves and the credit quality of the counterparties. The models also incorporate the Company’s creditworthiness in order to appropriately reflect non-performance risk. Inputs to the derivative pricing models are generally observable and do not contain a high level of subjectivity and, accordingly, the Company’s derivatives were classified within Level 2 of the fair value hierarchy. While the Company believes its estimates result in a reasonable reflection of the fair value of these instruments, the estimated values may not be representative of actual values that could have been realized or that will be realized in the near future. Refer to Note 6 of these Consolidated Financial Statements for additional information regarding the Company’s derivative financial instruments. | ||||||||||||||||||||||||||||
Contingent liabilities. As discussed in Note 3 of these Consolidated Financial Statements, during the year ended December 31, 2012, contingent consideration was recorded related to the acquisition of Clover Network, Inc. The transaction called for cash consideration as well as a series of contingent payments based on the achievement of specified sales targets. These contingent payments are classified as purchase consideration if made to outside investors and compensation if made to current and future employees. As part of the purchase price, the Company recorded a $20 million liability for the contingent consideration due to outside investors based upon the net present value of the Company’s estimate of the future payments. This fair value measurement represents a Level 3 measurement as it is based on significant inputs not observable in the market. Significant judgment is employed in determining the appropriateness of these assumptions as of the acquisition date. The primary assumption is the estimated number of merchant locations that will be using the software in the next four years. | ||||||||||||||||||||||||||||
Fair Value Measurement | ||||||||||||||||||||||||||||
(in millions) | Using Significant | |||||||||||||||||||||||||||
Unobservable Inputs | ||||||||||||||||||||||||||||
(Level 3) | ||||||||||||||||||||||||||||
Contingent consideration | ||||||||||||||||||||||||||||
Beginning balance as of January 1, 2012 | $ | — | ||||||||||||||||||||||||||
Initial estimate of contingent consideration | 20 | |||||||||||||||||||||||||||
Contingent consideration payments | — | |||||||||||||||||||||||||||
Change in fair value of contingent consideration | — | |||||||||||||||||||||||||||
Ending balance as of December 31, 2012 | $ | 20 | ||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | ||||||||||||||||||||||||||||
During the year ended December 31, 2012, the Company recorded impairments totaling approximately $22 million on assets with a total carrying value of approximately $42 million due to the sale, expected sale or discontinued use of certain assets. Approximately $5 million of the total impairments related to one business in the Financial Services segment and was recorded in the “Impairments” line in the Consolidated Statement of Operations, while the remaining amounts were individually insignificant and were recorded in the “Cost of services” line. The impairments related to property and equipment, customer relationships, software, and goodwill. In addition, the Company impaired a strategic investment with a total carrying value of $8.7 million within the Retail and Alliance Segment as discussed in Note 5. The impairment was recorded in the “Other income (expense)” line in the Consolidated Statement of Operations. | ||||||||||||||||||||||||||||
During the year ended December 31, 2011, the Company did not record any adjustments to the carrying value of existing assets based on non-recurring fair value measurements. | ||||||||||||||||||||||||||||
During the year ended December 31, 2010, the Company recorded impairments in the Retail and Alliance and International segments totaling $11.5 million on assets with a total carrying value of $11.7 million, as a result of changes in management’s expectations with respect to projected cash flows, ongoing negative cash flows for certain assets or asset groups or due to the discontinued use of certain assets. The impairments related to property and equipment, customer relationships, software, other intangibles, and other long-term assets and were recorded in the “Impairments” line in the Consolidated Statement of Operations. | ||||||||||||||||||||||||||||
The fair values of the impaired assets were estimated primarily using a discounted cash flow analysis for 2012 and an income approach for 2010, both based on management’s current cash flow projections and using assumptions that management believed were consistent with market participant assumptions. The inputs to the valuations were largely unobservable, and the measurements were accordingly classified as Level 3. The majority of these assets were deemed fully impaired. All key assumptions and valuations were determined by and are the responsibility of management. This fair value measurement represents a Level 3 measurement as it is based on significant inputs not observable in the market. The fair value will be measured on a non-recurring basis. Significant judgment is employed in determining the appropriateness of these assumptions. | ||||||||||||||||||||||||||||
Also during the year ended December 31, 2012, contingent consideration was recorded related to a small divestiture. The transaction called for a series of contingent payments based on revenue over three years. As part of the sale price, the Company recorded a $14 million asset for the contingent consideration due based upon the net present value of the Company’s estimate of future receipts from the buyer. | ||||||||||||||||||||||||||||
Borrowings
Borrowings | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
Borrowings | ' | ' | |||||||||||||||||||||||
Borrowings | ' | ' | |||||||||||||||||||||||
Note 4: Borrowings | Note 8: Borrowings | ||||||||||||||||||||||||
Short-Term Borrowings | As of December 31, | ||||||||||||||||||||||||
(in millions) | 2012 | 2011 | |||||||||||||||||||||||
As of September 30, 2013 and December 31, 2012, FDC had approximately $231 million and $346 million available, respectively, under short-term lines of credit and other arrangements with foreign banks and alliance partners primarily to fund settlement activity. These arrangements are primarily associated with international operations and are in various functional currencies, the most significant of which are the Australian dollar, the Polish zloty and the euro. The total amounts outstanding against short-term lines of credit and other arrangements were $79.6 million and $177.2 million as of September 30, 2013 and December 31, 2012, respectively. Certain of these arrangements are uncommitted but FDC had $48.1 million and $130.0 million of borrowings outstanding against them as of September 30, 2013 and December 31, 2012, respectively. | Short-term borrowings | ||||||||||||||||||||||||
Senior secured revolving credit facility | $ | — | $ | — | |||||||||||||||||||||
Senior Secured Credit Facilities | Foreign lines of credit and other arrangements | 177.2 | 76.4 | ||||||||||||||||||||||
Total short-term borrowings | 177.2 | 76.4 | |||||||||||||||||||||||
Senior Secured Revolving Credit Facility. As of September 30, 2013, FDC’s senior secured revolving credit facility had commitments from financial institutions to provide $1,016.2 million of credit. Up to $500 million of the senior secured revolving credit facility is available for letters of credit, of which $48.1 million and $45.1 million were issued as of September 30, 2013 and December 31, 2012, respectively. In addition to the outstanding letters of credit, FDC had $95.0 million outstanding against this facility as of September 30, 2013 and no amounts outstanding as of December 31, 2012. At September 30, 2013, $873.1 million remained available under this facility after considering the outstanding borrowings and letters of credit. | |||||||||||||||||||||||||
Current portion of long-term borrowings (a): | |||||||||||||||||||||||||
Senior Secured Term Loan Facility. On February 13, 2013, FDC entered into a February 2013 Joinder Agreement relating to its credit agreement, pursuant to which FDC incurred $258 million in new term loans maturing on September 24, 2018. The interest rate applicable to the new September 2018 Term Loans is a rate equal to, at FDC’s option, either (a) LIBOR for deposits in U.S. dollars plus 500 basis points or (b) a base rate plus 400 basis points. FDC used the net cash proceeds from the new term loans to repay all of its outstanding term loan borrowings maturing in 2014 and to pay related fees and expenses. | 4.70% Unsecured notes due 2013, net of unamortized discount of $0.4 | 14.7 | — | ||||||||||||||||||||||
Capital lease obligations | 65.2 | 57 | |||||||||||||||||||||||
On April 10, 2013, FDC’s senior secured term loan facility was amended to create a senior secured replacement term loan facility in an aggregate principal amount equal to the aggregate outstanding principal amount of term loans due in 2017 that currently bear interest at a rate per annum equal to, at FDC’s option, LIBOR Rate plus 500 basis points or a base rate plus 400 basis points. As of April 10, 2013, all of the previously outstanding term loans due in 2017 were exchanged with loans under the new facility which have the same terms except the new loans bear interest at a rate per annum equal to, at FDC’s option, LIBOR Rate plus 400 basis points or a base rate plus 300 basis points. | Total current portion of long-term borrowings | 79.9 | 57 | ||||||||||||||||||||||
On April 15, 2013, FDC further amended its senior secured term loan facility to create a senior secured replacement term loan facility in an aggregate principal amount equal to the aggregate outstanding principal amount of the term loans due in 2018 that currently bear interest at a rate per annum equal to, at FDC’s option, LIBOR Rate plus 500 basis points or a base rate plus 400 basis points. All of the previously outstanding 2018 term loans were exchanged for loans under the new facility which have the same terms except the new loans bear interest at a rate per annum equal to, at FDC’s option, LIBOR Rate plus 400 basis points or a base rate plus 300 basis points. FDC paid closing fees in connection with the transaction. | Long-term borrowings (a): | ||||||||||||||||||||||||
Senior secured term loan facility due 2014, net of unamortized discount of $1.3 and $9.8 | 253.9 | 6,554.90 | |||||||||||||||||||||||
10.55% Senior Unsecured Notes | Senior secured term loan facility due 2017, net of unamortized discount of $12.7 | 2,658.60 | — | ||||||||||||||||||||||
Senior secured term loan facility due March 2018, net of unamortized discount of $27.3 and $27.2 | 4,633.30 | 4,626.20 | |||||||||||||||||||||||
On January 30, 2013, FDC commenced a tender offer to purchase for cash any and all of its outstanding 10.55% senior unsecured notes. The tender offer expired on February 27, 2013. Noteholders that validly tendered their notes on or before February 12, 2013 received an early tender premium. The completion of the tender offer was subject to the debt offering described below and certain other conditions. In addition, on March 1, 2013, FDC redeemed the outstanding 10.55% senior unsecured notes that were not repurchased upon completion of the tender offer. | Senior secured term loan facility due September 2018, net of unamortized discount of $21.4 | 728.6 | — | ||||||||||||||||||||||
7.375% Senior secured first lien notes due 2019, net of unamortized discount of $27.0 and $15.0 | 1,568.00 | 735 | |||||||||||||||||||||||
11.25% Senior Unsecured Notes Due 2021 | 8.875% Senior secured first lien notes due 2020, net of unamortized discount of $13.6 and $15.4 | 496.4 | 494.6 | ||||||||||||||||||||||
6.75% Senior secured first lien notes due 2020, net of unamortized discount of $29.4 | 2,120.60 | — | |||||||||||||||||||||||
On February 13, 2013, FDC issued $785 million aggregate principal amount of 11.25% senior unsecured notes due January 15, 2021. Interest on the notes will be payable in cash semi-annually on May 15 and November 15 of each year, commencing on November 15, 2013. FDC used the proceeds from the offering to repurchase all of its outstanding 10.55% senior unsecured notes as described above and to pay related fees and expenses. | 8.25% Senior secured second lien notes due 2021, net of unamortized discount of $14.3 and $16.1 | 1,985.40 | 1,983.60 | ||||||||||||||||||||||
8.75%/10.00% PIK toggle senior secured second lien notes due 2022 (b), net of unamortized discount of $7.3 and $8.1 | 992.7 | 991.9 | |||||||||||||||||||||||
The notes are unsecured and (i) rank senior in right of payment to any existing and future subordinated indebtedness, including the existing senior subordinated notes; (ii) rank equally in right of payment to any existing and future senior indebtedness; (iii) are effectively junior to all existing and future secured indebtedness, including indebtedness under the senior secured credit facilities, existing senior secured notes, existing senior secured second lien notes and capital leases to the extent of the collateral securing such indebtedness; and (iv) are effectively subordinated in right of payment to all existing and future indebtedness and other liabilities of the non-guarantor subsidiaries (other than indebtedness and liabilities owed to FDC or one of its subsidiary guarantors). | 12.625% Senior unsecured notes due 2021, net of unamortized discount of $21.5 and $24.2 | 2,978.50 | 2,975.80 | ||||||||||||||||||||||
9.875% Senior unsecured notes due 2015 | 783.5 | 783.5 | |||||||||||||||||||||||
The notes are similarly guaranteed in accordance with their terms by each of FDC’s domestic subsidiaries that guarantee obligations under FDC’s senior secured term loan facility described in more detail in Note 15 of these Consolidated Financial Statements. | 10.55% Senior unsecured notes due 2015 (previously senior PIK notes (b)) | 748.4 | 748.4 | ||||||||||||||||||||||
11.25% Senior unsecured subordinated notes due 2016 | 2,500.00 | 2,500.00 | |||||||||||||||||||||||
FDC may redeem the notes, in whole or in part, at any time prior to January 15, 2016, at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date and a “make-whole premium.” Thereafter, FDC may redeem the notes, in whole or in part, at established redemption prices. In addition, until January 15, 2016, FDC may redeem up to 35% of the aggregate principal amount of the notes at 111.25% with the net cash proceeds of one or more equity offerings. | 4.70% Unsecured notes due 2013, net of unamortized discount of $1.1 | — | 14 | ||||||||||||||||||||||
4.85% Unsecured notes due 2014, net of unamortized discount of $0.3 and $0.5 | 3.5 | 3.3 | |||||||||||||||||||||||
FDC has agreed to use its reasonably best efforts to register notes with the SEC having substantially identical terms as the 11.25% senior unsecured notes, as part of an offer to exchange freely tradable exchange notes for the 11.25% senior unsecured notes within 360 days after the issue date. If FDC fails to complete the exchange or, if required, to have a shelf registration statement declared effective within that time period (‘‘registration default’’), the annual interest rate on the notes will increase by 0.25%. The annual interest rate on the notes will increase by an additional 0.25% for each subsequent 90-day period during which the registration default continues, up to a maximum additional interest rate of 0.50% per year. FDC may subsequently cure the registration default and the applicable interest rate on the unsecured notes will revert to the original rate. If FDC must pay additional interest, it will be paid in cash on the same dates that other interest payments on the notes are made, until the registration default is corrected. | 4.95% Unsecured notes due 2015, net of unamortized discount of $1.0 and $1.5 | 8.8 | 8.3 | ||||||||||||||||||||||
Capital lease obligations | 68.7 | 102.2 | |||||||||||||||||||||||
10.625% Senior Unsecured Notes Due 2021 | Total long-term borrowings | 22,528.90 | 22,521.70 | ||||||||||||||||||||||
Total borrowings | $ | 22,786.00 | $ | 22,655.10 | |||||||||||||||||||||
On April 10, 2013, FDC issued $815 million aggregate principal amount of 10.625% senior unsecured notes due June 15, 2021. Interest on the notes will be payable in cash semi-annually on February 15 and August 15 of each year, commencing on August 15, 2013. FDC used the proceeds from the offering to repurchase all of its outstanding 9.875% senior unsecured notes and to pay related fees and expenses. | |||||||||||||||||||||||||
The notes are unsecured and (i) rank senior in right of payment to any existing and future subordinated indebtedness, including the existing senior subordinated notes; (ii) rank equally in right of payment to any existing and future senior indebtedness; (iii) are effectively junior to all existing and future secured indebtedness, including indebtedness under the senior secured credit facilities, existing senior secured notes, existing senior secured second lien notes and capital leases to the extent of the collateral securing such indebtedness; and (iv) are effectively subordinated in right of payment to all existing and future indebtedness and other liabilities of the non-guarantor subsidiaries (other than indebtedness and liabilities owed to the Company or one of its subsidiary guarantors). | (a) Unamortized discount amounts are as of December 31, 2012 and 2011, respectively. | ||||||||||||||||||||||||
(b) Payment In-Kind (“PIK”) | |||||||||||||||||||||||||
The notes are similarly guaranteed in accordance with their terms by each of FDC’s domestic subsidiaries that guarantee obligations under FDC’s senior secured term loan facility described in more detail in Note 15 of these Consolidated Financial Statements. | |||||||||||||||||||||||||
Short-Term Borrowings | |||||||||||||||||||||||||
FDC may redeem the notes, in whole or in part, at any time prior to April 15, 2016, at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date and a “make-whole premium.” Thereafter, FDC may redeem the notes, in whole or in part, at established redemption prices. In addition, until April 15, 2016, FDC may redeem up to 35% of the aggregate principal amount of the notes at 110.625% with the net cash proceeds of one or more equity offerings. | |||||||||||||||||||||||||
FDC had approximately $346 million and $341 million available under short-term lines of credit and other arrangements with foreign banks and alliance partners primarily to fund settlement activity, as of December 31, 2012 and 2011, respectively. These arrangements are primarily associated with international operations and are in various functional currencies, the most significant of which are the Australian dollar, the euro and the Polish zloty. The total amounts outstanding against short-term lines of credit and other arrangements were $177.2 million and $76.4 million as of December 31, 2012 and 2011, respectively. Certain of these arrangements are uncommitted but FDC had $130.0 million and $74.0 million of borrowings outstanding against them as of December 31, 2012 and 2011, respectively. The weighted average interest rates associated with these arrangements were 3.9% and 5.0% for the years ended December 31, 2012 and 2011, respectively. Commitment fees for the committed lines of credit range from 0.156% to 0.8%. | |||||||||||||||||||||||||
FDC has agreed to use its reasonably best efforts to register notes with the SEC having substantially identical terms as the 10.625% senior unsecured notes, as part of an offer to exchange freely tradable exchange notes for the 10.625% senior unsecured notes within 360 days after the issue date. If FDC fails to complete the exchange or, if required, to have a shelf registration statement declared effective within that time period (‘‘registration default’’), the annual interest rate on the notes will increase by 0.25%. The annual interest rate on the notes will increase by an additional 0.25% for each subsequent 90-day period during which the registration default continues, up to a maximum additional interest rate of 0.50% per year. FDC may subsequently cure the registration default and the applicable interest rate on the unsecured notes will revert to the original rate. If FDC must pay additional interest, it will be paid in cash on the same dates that other interest payments on the notes are made, until the registration default is corrected. | |||||||||||||||||||||||||
Senior Secured Credit Facilities | |||||||||||||||||||||||||
11.75% Senior Unsecured Subordinated Notes Due 2021 | |||||||||||||||||||||||||
Senior Secured Revolving Credit Facility. As of December 31, 2012, FDC’s senior secured revolving credit facility had commitments from financial institutions to provide $1,515.3 million of credit. A portion of the revolving credit facility, $499.1 million, matures on September 24, 2013 while the remaining $1,016.2 million matures between June 24, 2015 and September 24, 2016 subject to certain conditions. | |||||||||||||||||||||||||
On May 30, 2013, FDC issued $750 million aggregate principal amount of 11.75% senior unsecured subordinated notes due August 15, 2021. Interest on the notes will be payable in cash semi-annually on February 15 and August 15 of each year, commencing on February 15, 2014. FDC used the proceeds from the offering, together with cash on hand, to redeem $520 million aggregate principal amount of its outstanding 11.25% senior unsecured subordinated notes due 2016, repurchase $230 million aggregate principal amount of its outstanding 11.25% senior unsecured subordinated notes due 2016 in a privately negotiated transaction with an existing holder of such notes, and to pay related fees and expenses. | |||||||||||||||||||||||||
Up to $500 million of the senior secured revolving credit facility is available for letters of credit (of which $45.1 million and $45.0 million of letters of credit were issued under the facility as of December 31, 2012 and 2011, respectively). As of December 31, 2012, $1,470.2 million remained available. | |||||||||||||||||||||||||
The notes are unsecured and (i) subordinated in right of payment to all of FDC’s existing and future senior indebtedness; (ii) subordinated in right of payment to all of FDC’s secured indebtedness, including its senior secured credit facilities and FDC’s existing senior secured notes, to the extent of the value of the assets securing such indebtedness; (iii) structurally subordinated in right of payment to any existing and future indebtedness and other liabilities of its non-guarantor subsidiaries (other than indebtedness and liabilities owed to First Data or one of its subsidiary guarantors); (iv) rank equally in right of payment with all of FDC’s existing and future unsecured senior subordinated indebtedness; and (v) rank senior in right of payment to any of FDC’s indebtedness expressly subordinated to the notes. | |||||||||||||||||||||||||
Interest is payable at a rate equal to, at FDC’s option, either (a) LIBOR for deposits in the applicable currency plus an applicable margin or (b) the higher of (1) the prime rate of Credit Suisse and (2) the federal funds effective rate plus 0.50%, plus an applicable margin. The weighted-average interest rates were 5.25% and 5.8% for the years ended December 31, 2012 and 2011, respectively. The commitment fee rate for the unused portion of this facility ranges from 0.50% to 0.75% per year. | |||||||||||||||||||||||||
The notes are similarly guaranteed in accordance with their terms by each of FDC’s domestic subsidiaries that guarantee obligations under FDC’s senior secured term loan facility described in more detail in Note 15 of these Consolidated Financial Statements. | |||||||||||||||||||||||||
Senior Secured Term Loan Facility. The Company has amounts outstanding under its senior secured term loan facility under separate tranches as shown in the table below. A portion of each tranche is denominated in euro with the exception of the September 2018 term loan. Interest is payable based upon LIBOR or euro LIBOR plus an applicable margin as shown in the table below. | |||||||||||||||||||||||||
FDC may redeem the notes, in whole or in part, at any time prior to May 15, 2016, at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date and a “make-whole premium.” Thereafter, FDC may redeem the notes, in whole or in part, at established redemption prices. In addition, until May 15, 2016, FDC may redeem up to 35% of the aggregate principal amount of the notes at 111.75% with the net cash proceeds of one or more equity offerings. | |||||||||||||||||||||||||
U.S. dollar-denominated term loan | Euro-denominated term loan (U.S. dollar equivalent) | Totals | |||||||||||||||||||||||
FDC has agreed to use its reasonably best efforts to register notes with the SEC having substantially identical terms as the 11.75% senior unsecured subordinated notes, as part of an offer to exchange freely tradable exchange notes for the 11.75% senior unsecured subordinated notes within 360 days after the issue date. If FDC fails to complete the exchange or, if required, to have a shelf registration statement declared effective within that time period (‘‘registration default’’), the annual interest rate on the notes will increase by 0.25%. The annual interest rate on the notes will increase by an additional 0.25% for each subsequent 90-day period during which the registration default continues, up to a maximum additional interest rate of 0.50% per year. FDC may subsequently cure the registration default and the applicable interest rate on the unsecured notes will revert to the original rate. If FDC must pay additional interest, it will be paid in cash on the same dates that other interest payments on the notes are made, until the registration default is corrected. | As of December 31, | As of December 31, | As of December 31, | ||||||||||||||||||||||
(in millions) | 2012 | 2011 | Rate | 2012 | 2011 | Rate | 2012 | 2011 | |||||||||||||||||
Debt Financing Costs | Due September 24, 2014 | $ | 130.7 | $ | 6,154.20 | LIBOR + 275 bps | $ | 123.2 | $ | 400.7 | euro LIBOR + 275 bps | $ | 253.9 | $ | 6,554.90 | ||||||||||
Due March 24, 2017 | $ | 2,424.20 | LIBOR + 500 bps | $ | 234.4 | euro LIBOR + 500 bps | $ | 2,658.60 | |||||||||||||||||
In connection with the February, April and May 2013 transactions described above, FDC incurred total costs of $122.0 million, comprised of lender and underwriting fees and other expenses of approximately $60 million and premiums paid of approximately $62 million related to the tender offer and debt repurchases. Approximately $116.7 million of the total costs were recorded as discounts on the modified debt and are being amortized to interest expense over the remaining terms of the term loans and notes. | Due March 24, 2018 | $ | 4,225.10 | $ | 4,225.30 | LIBOR + 400 bps | $ | 408.2 | $ | 400.9 | euro LIBOR + 400 bps | $ | 4,633.30 | $ | 4,626.20 | ||||||||||
Due September 24, 2018 | $ | 728.6 | LIBOR + 500 bps | $ | 728.6 | ||||||||||||||||||||
Other | |||||||||||||||||||||||||
As of December 31, 2012, FDC held interest rate swaps to mitigate exposure to variability in interest payments on the outstanding variable rate senior secured term loan. Refer to Note 6 of these Consolidated Financial Statements for a discussion of the Company’s derivatives. | |||||||||||||||||||||||||
In August 2013, FDC paid off its 4.70% notes due 2013 for $15.1 million. | |||||||||||||||||||||||||
The original terms of FDC’s senior secured term loan facility required the Company to pay equal quarterly installments in aggregate annual amounts equal to 1% of the original principal amount. However, in conjunction with debt modifications and amendments over the last several years, proceeds from the issuance of the notes were used to prepay portions of the principal balances of FDC’s senior secured term loans which satisfied the future quarterly principal payments until September 2018. Therefore, the Company made no principal payments during 2011 or 2012. During 2010, the Company paid $96.2 million of principal payments on the senior secured term loan facility in accordance with the original provisions, of which $89.2 million related to the U.S. dollar-denominated loan and $7.0 million related to the euro-denominated loan. | |||||||||||||||||||||||||
Debt transactions effected subsequent to September 30, 2013 | |||||||||||||||||||||||||
The senior secured term loan facility also requires mandatory prepayments based on a percentage of excess cash flow generated by FDC. All obligations under the senior secured loan facility are fully and unconditionally guaranteed by substantially all domestic, wholly-owned subsidiaries of FDC, subject to certain exceptions. | |||||||||||||||||||||||||
Debt Offering. On October 30, 2013, FDC entered into an agreement to offer $1,000 million additional aggregate principal amount of 11.75% senior subordinated notes due 2021. FDC intends to use the net proceeds from the offering, together with cash on hand, to redeem $1,000 million aggregate principal amount of its outstanding 11.25% senior subordinated notes due 2016 and to pay related fees and expenses. | |||||||||||||||||||||||||
2012 Modifications and Amendments to the Senior Secured Credit Facilities. On March 13, 2012, FDC amended its credit agreement to, among other things: | |||||||||||||||||||||||||
The notes will be issued under the indenture governing the 11.75% Senior Unsecured Subordinated Notes due 2021 that were issued on May 30, 2013 described above. The notes are expected to be treated as a single series with the existing 11.75% Senior Unsecured Subordinated Notes and will have the same terms as the existing notes and will vote as one class under the indenture governing the notes. | |||||||||||||||||||||||||
(i) convert approximately $3.2 billion of the existing term loans maturing in 2014 (the “2014 Term Loans”) under FDC’s senior secured term credit facilities into a new dollar-denominated term loan tranche and a new euro-denominated term loan tranche, which will each mature on March 24, 2017 (collectively, the “2017 Term Loans”); | |||||||||||||||||||||||||
Related Financing Costs. In connection with this debt offering, FDC will incur approximately $11 million in lender and underwriting fees and other expenses. | |||||||||||||||||||||||||
(ii) permit FDC to provide a loan extension request upon such shorter notice period as may be agreed by the administrative agent; | |||||||||||||||||||||||||
(iii) permit the deduction of fees and expenses related to any loan extensions from the net cash proceeds of any substantially concurrent debt offering related thereto that are being used to repay term loans under its senior secured credit facilities; | |||||||||||||||||||||||||
(iv) increase the Maximum Incremental Facilities Amount (as defined in the Amended Credit Agreement) by the amount of outstanding 2014 Term Loans, provided such increased amount may only be used for the incurrence of indebtedness the net cash proceeds of which are substantially concurrently used to prepay 2014 Term Loans; | |||||||||||||||||||||||||
(v) increase the Maximum Incremental Facilities Amount by the amount of any permanent reduction and/or termination of the revolving credit commitments after the effectiveness date of the Amendment Agreement; | |||||||||||||||||||||||||
(vi) permit voluntary prepayments of term loans to be directed to a class of Extended Term Loans (as defined in the Amended Credit Agreement) without requiring a prepayment of existing term loans from which such Extended Term Loans were converted; and | |||||||||||||||||||||||||
(vii) provide for an increase in the interest applicable to the 2017 Term Loans to a rate equal to, at FDC’s option, either (i) LIBOR for deposits in the applicable currency plus 500 basis points or (ii) with regard to dollar-denominated borrowings, a base rate plus 400 basis points. | |||||||||||||||||||||||||
The amendment became effective on March 23, 2012 when FDC issued $845 million aggregate principal amount of additional 7.375% senior secured notes due June 15, 2019 (refer to the “7.375% Senior Secured First Lien Notes” section below) and, using the net proceeds therefrom, effected a prepayment of the outstanding 2017 Term Loans under the Amended Credit Agreement of approximately $807 million. | |||||||||||||||||||||||||
In connection with the debt modification and amendments and the debt offering discussed above, FDC incurred costs of $31.5 million, $27.0 million of which was recorded as discounts on the debt and are being amortized to interest expense over the remaining terms of the loans. | |||||||||||||||||||||||||
On August 16, 2012, FDC amended its credit agreement to, among other things: | |||||||||||||||||||||||||
(i) convert approximately $295 million of the existing term loans maturing in 2014 under FDC’s senior secured term credit facilities into a new dollar-denominated term loan tranche and a new euro-denominated term loan tranche, each of which will mature on March 24, 2017; and | |||||||||||||||||||||||||
(ii) provide for an increase in the interest applicable to these 2017 Term Loans to a rate equal to, at FDC’s option, either (a) LIBOR for deposits in the applicable currency plus 500 basis points or (b) with regard to dollar-denominated borrowings, a base rate plus 400 basis points. | |||||||||||||||||||||||||
In addition on August 16, 2012, the Company issued $1,300 million of 6.75% senior secured notes due November 1, 2020 described below. In accordance with the terms of FDC’s Amended Credit Agreement, FDC used the net proceeds from the issue and sale of approximately $1,266 million to repay a portion of its outstanding senior secured term loans. | |||||||||||||||||||||||||
FDC incurred costs of $23.2 million related to the August 2012 amendment and debt offering, $17.8 million of which was recorded as discounts on the debt and are being amortized to interest expense or over the remaining terms of the loans. | |||||||||||||||||||||||||
Additionally, on September 27, 2012, FDC entered into an Incremental Joinder Agreement relating to its credit agreement, pursuant to which FDC incurred $750 million in new term loans maturing on September 24, 2018 (“September 2018 Term Loans”). The term loans were issued at 98.250% of the par amount for a discount totaling $13.1 million. The interest rate applicable to the September 2018 Term Loans is a rate equal to, at FDC’s option, either (a) LIBOR for deposits in U.S. dollars plus 500 basis points or (b) a base rate plus 400 basis points. | |||||||||||||||||||||||||
Also on September 27, 2012, FDC issued and sold $850 million aggregate principal amount of 6.75% senior secured notes due November 1, 2020 described below. | |||||||||||||||||||||||||
In connection with the September 2012 Joinder Agreement and debt offering, FDC used the net cash proceeds to repay approximately $1,573 million of its outstanding dollar-denominated term loan borrowings maturing in 2014 and to pay related fees and expenses. FDC incurred costs of $21.0 million, $16.3 million of which was recorded as discounts on the debt and are being amortized to interest expense over the remaining terms of the loans. | |||||||||||||||||||||||||
7.375% Senior Secured First Lien Notes | |||||||||||||||||||||||||
On March 23, 2012, FDC issued and sold $845 million aggregate principal amount of additional 7.375% senior secured notes due June 15, 2019 in connection with the March 2012 amendment to its Senior Secured Credit Facilities discussed above. The additional notes were issued at 99.5% of the par amount for a discount totaling $4.2 million. The additional notes are treated as a single series with and have the same terms as the previously existing 7.375% notes. The additional notes and the previously existing 7.375% notes vote as one class under the related indenture. Interest on the notes is payable semi-annually on June 15 and December 15 of each year. | |||||||||||||||||||||||||
FDC may redeem these notes, in whole or in part, at any time on or after June 15, 2015 at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date and a make-whole premium. Thereafter, FDC may redeem the notes, in whole or in part, at established redemption prices. In addition, on or prior to June 15, 2014, FDC may redeem up to 35% of the aggregate principal amount of notes with the net cash proceeds from certain equity offerings at established redemption prices. | |||||||||||||||||||||||||
8.875% Senior Secured First Lien Notes | |||||||||||||||||||||||||
FDC’s 8.875% senior secured notes due August 15, 2020 require the payment of interest semi-annually on February 15 and August 15 of each year. The notes were issued at 98.387% of the par amount for a discount totaling $8.2 million. | |||||||||||||||||||||||||
FDC may redeem the notes, in whole or in part, at any time prior to August 15, 2015 at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date and an additional premium as defined. Thereafter, FDC may redeem the notes, in whole or in part, at established redemption prices, plus accrued and unpaid interest to the redemption date. In addition, on or prior to August 15, 2013, FDC may redeem up to 35% of the notes with the net cash proceeds from certain equity offerings at established redemption prices plus accrued and unpaid interest to the redemption date. | |||||||||||||||||||||||||
6.75% Senior Secured First Lien Notes | |||||||||||||||||||||||||
On August 16, 2012, FDC issued and sold $1,300 million aggregate principal amount of 6.75% senior secured notes due November 1, 2020. The notes were issued at 99.193% of the par amount for a discount totaling $10.5 million. Interest on the notes will be payable semi-annually on May 1 and November 1 of each year, commencing on May 1, 2013. | |||||||||||||||||||||||||
On September 27, 2012, FDC issued and sold $850 million aggregate principal amount of additional 6.75% senior secured notes pursuant to the indenture governing the 6.75% senior secured notes that were issued on August 16, 2012. The additional notes were treated as a single series with the existing 6.75% notes and have the same terms as those notes. The notes were issued at 100.75% of the par amount for a premium totaling $6.4 million. | |||||||||||||||||||||||||
FDC may redeem the notes, in whole or in part, at any time prior to November 1, 2015, at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date and a “make-whole premium.” Thereafter, FDC may redeem the notes, in whole or in part, at established redemption prices. In addition, on or prior to November 1, 2015, FDC may redeem up to 35% of the aggregate principal amount of notes with the net cash proceeds from certain equity offerings at established redemption prices. | |||||||||||||||||||||||||
Senior Secured Second Lien Notes | |||||||||||||||||||||||||
Interest on the 8.25% cash-pay notes is payable in cash, accrues interest at the rate of 8.25% per annum and is payable semi-annually in arrears on January 15 and July 15. The 8.25% cash-pay notes mature on January 15, 2021. | |||||||||||||||||||||||||
Cash interest on the PIK toggle notes accrues at a rate of 8.75% per annum and PIK interest accrues at a rate of 10.00% per annum. The initial interest payment on the PIK toggle notes was payable in cash. For any interest period thereafter through and including the interest period ending January 15, 2014, FDC may elect to pay interest on the PIK toggle notes (i) entirely in cash, (ii) entirely by increasing the aggregate principal amount of the outstanding PIK toggle notes or by issuing PIK notes (“PIK Interest”), or (iii) on 50% of the outstanding aggregate principal amount of the PIK toggle notes in cash and on 50% of the outstanding aggregate principal amount of the outstanding PIK toggle notes by increasing the aggregate principal amount of the outstanding PIK toggle notes or by issuing PIK notes (“Partial PIK Interest”). After January 15, 2014, all interest on the PIK toggle notes will be payable in cash. If FDC elects to pay PIK Interest or Partial PIK Interest, FDC will increase the principal amount of the PIK toggle notes or issue PIK toggle notes in an amount equal to the amount of PIK Interest or the portion of Partial PIK Interest payable in PIK toggle notes for the applicable interest payment period to holders of the PIK toggle notes on the relevant record date. As of December 31, 2012 and 2011, FDC elected to pay interest on the notes entirely in cash. The PIK toggle notes mature on January 15, 2022. | |||||||||||||||||||||||||
FDC may redeem the second lien notes, in whole or in part, at any time prior to January 15, 2016, at a price equal to 100% of the principal amount of the notes plus accrued and unpaid interest to the redemption date and a “make-whole premium.” Thereafter, FDC may redeem the second lien notes, in whole or in part, at established redemption prices. In addition, on or prior to January 15, 2014, FDC may redeem up to 35% of the aggregate principal amount of the notes with the net cash proceeds from certain equity offerings at established redemption prices. | |||||||||||||||||||||||||
12.625% Senior Unsecured Notes | |||||||||||||||||||||||||
Interest on the 12.625% senior notes is payable in cash, accrues at the rate of 12.625% per annum, and is payable semi-annually in arrears on January 15 and July 15. The 12.625% senior notes mature on January 15, 2021. | |||||||||||||||||||||||||
Effective December 2011, FDC exchanged substantially all of its 12.625% senior notes due 2021 for publicly tradable notes having substantially identical terms and guarantees, except that the exchange notes are freely tradable. FDC may redeem the senior notes, in whole or in part, at any time prior to January 15, 2016, at a price equal to 100% of the principal amount of the notes plus accrued and unpaid interest to the redemption date and a “make-whole premium.” Thereafter, FDC may redeem the senior notes, in whole or in part, at established redemption prices. In addition, on or prior to January 15, 2014, FDC may redeem up to 35% of the aggregate principal amount of the notes with the net cash proceeds from certain equity offerings at established redemption prices. | |||||||||||||||||||||||||
9.875% Senior Unsecured Notes and 10.55% Senior Unsecured Notes | |||||||||||||||||||||||||
FDC’s 9.875% senior notes due September 24, 2015 are publicly tradable and require the payment of interest semi-annually on March 31 and September 30. | |||||||||||||||||||||||||
FDC’s 10.55% senior notes due September 24, 2015 are publicly tradable and require the payment of interest semi-annually on March 31 and September 30. The terms require that interest on these notes up to and including September 30, 2011 be paid entirely by increasing the principal amount of the outstanding notes or by issuing senior PIK notes. Beginning October 1, 2011, interest was payable in cash and the first such payment was in April 2012. During 2011, FDC increased the principal amount of these notes by $73.1 million in accordance with this provision. | |||||||||||||||||||||||||
11.25% Senior Unsecured Subordinated Notes | |||||||||||||||||||||||||
FDC’s publicly tradable 11.25% senior subordinated notes due March 31, 2016 require the payment of interest semi-annually on March 31 and September 30. | |||||||||||||||||||||||||
Deferred Financing Costs | |||||||||||||||||||||||||
Deferred financing costs were capitalized in conjunction with certain of FDC’s debt issuances and totaled $218.2 million and $269.8 million, as of December 31, 2012 and 2011, respectively. Deferred financing costs are reported in the “Other long-term assets” line of the Consolidated Balance Sheets and are being amortized on a straight-line basis, which approximates the interest method, over the remaining term of the respective debt, with a weighted-average period of 6 years. In addition, lender fees associated with debt modifications and amendments were capitalized as discounts on the debt and are similarly being amortized on a straight-line basis over the remaining term of the respective debt. | |||||||||||||||||||||||||
Guarantees and Covenants | |||||||||||||||||||||||||
All obligations under the senior secured revolving credit facility and senior secured term loan facility are unconditionally guaranteed by substantially all existing and future, direct and indirect, wholly-owned, material domestic subsidiaries of FDC other than Integrated Payment Systems Inc. The senior secured facilities contain a number of covenants that, among other things, restrict FDC’s ability to incur additional indebtedness; create liens; enter into sale and leaseback transactions; engage in mergers or consolidations; sell or transfer assets; pay dividends and distributions or repurchase FDC’s or its parent company’s capital stock; make investments, loans or advances; prepay certain indebtedness; make certain acquisitions; engage in certain transactions with affiliates; amend material agreements governing certain indebtedness and change its lines of business. The senior secured facilities also require FDC to not exceed a maximum senior secured leverage ratio and contain certain customary affirmative covenants and events of default, including a change of control. FDC is in compliance with all applicable covenants. | |||||||||||||||||||||||||
All senior secured notes are guaranteed on a senior secured basis by each of FDC’s existing and future direct and indirect wholly owned domestic subsidiaries that guarantees FDC’s senior secured credit facilities. Each of the guarantees of the notes is a general senior obligation of each guarantor and rank senior in right of payment to all existing and future subordinated indebtedness of the guarantor subsidiary, including FDC’s existing senior subordinated notes. The notes rank equal in right of payment with all existing and future senior indebtedness of the guarantor subsidiary but are effectively senior to the guarantees of FDC’s existing senior unsecured notes and FDC’s existing senior secured second lien notes to the extent of the guarantor subsidiary’s value of the collateral securing the notes. The 7.375% Senior Secured First Lien Notes, 8.875% Senior Secured First Lien Notes, and 6.75% Senior Secured First Lien Notes are effectively equal in right of payment with each other and the guarantees of FDC’s senior secured credit facilities. Each series of notes are effectively subordinated to any obligations secured by liens permitted under the indenture for the particular series of notes and structurally subordinated to any existing and future indebtedness and other liabilities of any subsidiary of a guarantor that is not also a guarantor of the notes. | |||||||||||||||||||||||||
All senior unsecured notes (i) rank senior in right of payment to all of FDC’s existing and future subordinated indebtedness, (ii) rank equally in right of payment to all of the existing and future senior indebtedness, (iii) are effectively subordinated in right of payment to all existing and future secured debt to the extent of the value of the assets securing such debt, and (iv) are structurally subordinated to all obligations of each subsidiary that is not a guarantor of the senior notes. | |||||||||||||||||||||||||
The senior subordinated notes are unsecured and (i) rank equally in right of payment with all of the existing and future senior subordinated debt, (ii) rank senior in right of payment to all future debt and other obligations that are, by their terms, expressly subordinated in right of payment to the senior subordinated notes, (iii) are effectively subordinated in right of payment to all existing and future secured debt to the extent of the value of the assets securing such debt, and (iv) are structurally subordinated to all obligations of each subsidiary that is not a guarantor of the senior subordinated notes. | |||||||||||||||||||||||||
All obligations under the senior secured notes, senior secured second lien notes, PIK toggle senior second lien notes, senior unsecured notes, and senior unsecured subordinated notes also contain a number of covenants similar to those described for the senior secured obligations noted above. FDC is in compliance with all applicable covenants. | |||||||||||||||||||||||||
Debt transactions effected subsequent to December 31, 2012 | |||||||||||||||||||||||||
Debt Offering and Debt Repurchase. On January 30, 2013, FDC commenced a tender offer to purchase for cash any and all of its outstanding 10.55% senior unsecured notes. The tender offer expired on February 27, 2013. Noteholders that validly tendered their notes on or before February 12, 2013 received an early tender premium. The completion of the tender offer was subject to the debt offering described below and certain other conditions. In addition, on March 1, 2013, FDC redeemed the outstanding 10.55% senior unsecured notes that were not repurchased upon completion of the tender offer. | |||||||||||||||||||||||||
On February 13, 2013, the Company issued $785 million aggregate principal amount of 11.25% senior unsecured notes due January 15, 2021. Interest on the notes will be payable in cash semi-annually on May 15 and November 15 of each year, commencing on November 15, 2013. FDC used the proceeds from the offering to repurchase all of its outstanding 10.55% senior unsecured notes as described above and to pay related fees and expenses. | |||||||||||||||||||||||||
The notes are unsecured and (i) rank senior in right of payment to any existing and future subordinated indebtedness, including the existing senior subordinated notes; (ii) rank equally in right of payment to any existing and future senior indebtedness; (iii) be effectively junior to all existing and future secured indebtedness, including indebtedness under the senior secured credit facilities, existing senior secured notes, existing senior secured second lien notes and capital leases to the extent of the collateral securing such indebtedness; and (iv) be effectively subordinated in right of payment to all existing and future indebtedness and other liabilities of the non-guarantor subsidiaries (other than indebtedness and liabilities owed to the Company or one of its subsidiary guarantors). | |||||||||||||||||||||||||
The notes are similarly guaranteed in accordance with their terms by each of FDC’s domestic subsidiaries that guarantee obligations under FDC’s senior secured term loan facility described above. The notes also contain a number of covenants similar to those described for the senior secured obligations noted above. | |||||||||||||||||||||||||
FDC may redeem the notes, in whole or in part, at any time prior to January 15, 2016, at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date and a “make-whole premium.” Thereafter, FDC may redeem the notes, in whole or in part, at established redemption prices. In addition, until January 15, 2016, FDC may redeem up to 35% of the aggregate principal amount of the notes at 111.25% with the net cash proceeds of one or more equity offerings. | |||||||||||||||||||||||||
FDC has agreed to use its reasonably best efforts to register notes with the SEC having substantially identical terms as the 11.25% senior unsecured notes, as part of an offer to exchange freely tradable exchange notes for the 11.25% senior unsecured notes within 360 days after the issue date. If FDC fails to complete the exchange or, if required, to have a shelf registration statement declared effective within that time period (‘‘registration default’’), the annual interest rate on the notes will increase by 0.25%. The annual interest rate on the notes will increase by an additional 0.25% for each subsequent 90-day period during which the registration default continues, up to a maximum additional interest rate of 0.50% per year. FDC may subsequently cure the registration default and the applicable interest rate on the unsecured notes will revert to the original rate. If FDC must pay additional interest, it will be paid in cash on the same dates that other interest payments on the notes are made, until the registration default is corrected. | |||||||||||||||||||||||||
Joinder Agreement to the Senior Secured Credit Facilities. On February 13, 2013, FDC entered into a February 2013 Joinder Agreement relating to its credit agreement, pursuant to which FDC incurred $258 million in new term loans maturing on September 24, 2018. The interest rate applicable to the new September 2018 Term Loans is a rate equal to, at FDC’s option, either (a) LIBOR for deposits in U.S. dollars plus 500 basis points or (b) a base rate plus 400 basis points. FDC used the net cash proceeds from the new term loans to repay all of its outstanding term loan borrowings maturing in 2014 and to pay related fees and expenses. | |||||||||||||||||||||||||
Related Financing Costs. In connection with the debt offering and amendment to the senior secured credit facilities discussed above, the Company incurred lender fees and other expenses of approximately $14 million, excluding premiums paid of approximately $21 million related to the tender offer and debt repurchase. | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
In November 2011, FDC paid off its 5.625% notes due 2011 for $32.6 million. | |||||||||||||||||||||||||
In June 2010, FDC paid off its 4.50% notes due 2010 for $13.1 million. | |||||||||||||||||||||||||
Maturities | |||||||||||||||||||||||||
The following table presents the future aggregate annual maturities of long-term debt: | |||||||||||||||||||||||||
Year ended December 31, | Par Amount | ||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
2013 | $ | 80.3 | |||||||||||||||||||||||
2014 | 294 | ||||||||||||||||||||||||
2015 | 1,568.00 | ||||||||||||||||||||||||
2016 | 2,506.60 | ||||||||||||||||||||||||
2017 | 2,672.00 | ||||||||||||||||||||||||
Thereafter | 15,665.40 | ||||||||||||||||||||||||
Supplemental_Financial_Informa
Supplemental Financial Information | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
Supplemental Financial Information | ' | ' | |||||||||||||||||||||||
Supplemental Financial Information | ' | ' | |||||||||||||||||||||||
Note 2: Supplemental Financial Information | Note 9: Supplemental Financial Information | ||||||||||||||||||||||||
Supplemental Statement of Operations Information | Supplemental Statements of Operations Information | ||||||||||||||||||||||||
The following table details the components of “Other income (expense)” on the Consolidated Statements of Operations: | The following table details the components of “Other income (expense)” on the Consolidated Statements of Operations: | ||||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | |||||||||||||||||||||||
September 30, | September 30, | (in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Investment (losses) and gains | $ | (7.7 | ) | $ | — | $ | 2.5 | |||||||||||||
Investment (losses) and gains | $ | — | $ | (8.1 | ) | $ | 2.3 | $ | (7.8 | ) | Derivative financial instruments (losses) and gains | (91.4 | ) | 58.2 | (58.3 | ) | |||||||||
Derivative financial instruments losses | (25.5 | ) | (43.0 | ) | (11.3 | ) | (86.8 | ) | Divestitures, net | — | 57.4 | 18.7 | |||||||||||||
Divestitures, net | 2.3 | — | 2.3 | — | Non-operating foreign currency gains | 4.8 | 5.3 | 21.2 | |||||||||||||||||
Non-operating foreign currency (losses) and gains | (13.0 | ) | (0.9 | ) | (14.2 | ) | 11.8 | Other | — | 3.2 | — | ||||||||||||||
Other income (expense) | $ | (36.2 | ) | $ | (52.0 | ) | $ | (20.9 | ) | $ | (82.8 | ) | Other income (expense) | $ | (94.3 | ) | $ | 124.1 | $ | (15.9 | ) | ||||
Supplemental Cash Flow Information | Supplemental Balance Sheet Information | ||||||||||||||||||||||||
Due to the short period of time between receipt of cash from the associations and payment to the merchants, which typically occurs intra-day except on weekends, the changes in settlement assets and obligations are presented on a net basis within operating activities in the Consolidated Statements of Cash Flows. Because the changes in the settlement assets balance exactly offset changes in settlement obligations, the activity nets to zero. | As of December 31, | ||||||||||||||||||||||||
(in millions) | 2012 | 2011 | |||||||||||||||||||||||
During the nine months ended September 30, 2013 and 2012, the Company entered into capital leases, net of trade-ins, totaling approximately $109 million and $49 million, respectively. | Current assets: | ||||||||||||||||||||||||
Accounts receivable: | |||||||||||||||||||||||||
Refer to Note 9 of these Consolidated Financial Statements for information concerning the Company’s stock-based compensation plans. | Customers | $ | 1,713.80 | $ | 1,682.80 | ||||||||||||||||||||
Due from unconsolidated merchant alliances | 37 | 36.8 | |||||||||||||||||||||||
Leasing receivables | 99.8 | 93.1 | |||||||||||||||||||||||
Interest and other receivables | 30.4 | 54 | |||||||||||||||||||||||
1,881.00 | 1,866.70 | ||||||||||||||||||||||||
Less allowance for doubtful accounts-other receivables | (29.9 | ) | (14.2 | ) | |||||||||||||||||||||
Less allowance for doubtful accounts-leasing receivables | (3.4 | ) | (3.9 | ) | |||||||||||||||||||||
$ | 1,847.70 | $ | 1,848.60 | ||||||||||||||||||||||
Other current assets: | |||||||||||||||||||||||||
Prepaid expenses | $ | 92 | $ | 113.5 | |||||||||||||||||||||
Inventory | 72.2 | 89.3 | |||||||||||||||||||||||
Deferred and other income tax assets | 78.3 | 120.1 | |||||||||||||||||||||||
Derivative financial instruments | 11.1 | — | |||||||||||||||||||||||
$ | 253.6 | $ | 322.9 | ||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
(in millions) | 2012 | 2011 | |||||||||||||||||||||||
Property and equipment: | |||||||||||||||||||||||||
Land | $ | 88.6 | $ | 95.8 | |||||||||||||||||||||
Buildings | 319.4 | 322.2 | |||||||||||||||||||||||
Leasehold improvements | 51.9 | 56.1 | |||||||||||||||||||||||
Equipment and furniture | 1,103.40 | 1,026.20 | |||||||||||||||||||||||
Equipment under capital lease | 316.8 | 278.5 | |||||||||||||||||||||||
1,880.10 | 1,778.80 | ||||||||||||||||||||||||
Less accumulated depreciation | (1,024.3 | ) | (842.9 | ) | |||||||||||||||||||||
$ | 855.8 | $ | 935.9 | ||||||||||||||||||||||
Other long-term assets: | |||||||||||||||||||||||||
Accounts receivable, net of allowance for doubtful accounts of $2.1(2012) | $ | 180.7 | $ | 160.3 | |||||||||||||||||||||
Leasing Receivables, net of allowance for doubtful accounts of $10.6 (2012) and $10.3 (2011) | 277.7 | 257.6 | |||||||||||||||||||||||
Investments | 13.9 | 24.2 | |||||||||||||||||||||||
Regulatory and escrowed cash | 5.1 | 13.9 | |||||||||||||||||||||||
Derivative financial instruments | 89.8 | 76.3 | |||||||||||||||||||||||
Deferred financing costs, net of amortization | 218.2 | 269.8 | |||||||||||||||||||||||
Deferred income tax assets | 10.4 | 10.5 | |||||||||||||||||||||||
Pension assets | — | 13.7 | |||||||||||||||||||||||
Other | 29.2 | 17.8 | |||||||||||||||||||||||
$ | 825 | $ | 844.1 | ||||||||||||||||||||||
Other current liabilities: | |||||||||||||||||||||||||
Accrued interest expense | $ | 496 | $ | 439.5 | |||||||||||||||||||||
Other accrued expenses | 554.8 | 537.5 | |||||||||||||||||||||||
Compensation and benefit liabilities | 307.2 | 284.6 | |||||||||||||||||||||||
Derivative financial instruments | 0.3 | 156.7 | |||||||||||||||||||||||
Due to unconsolidated merchant alliances | 8.7 | 6.9 | |||||||||||||||||||||||
Other | 233.6 | 217.9 | |||||||||||||||||||||||
$ | 1,600.60 | $ | 1,643.10 | ||||||||||||||||||||||
Other long-term liabilities: | |||||||||||||||||||||||||
Pension obligations | $ | 103.3 | $ | 91.1 | |||||||||||||||||||||
Derivative financial instruments | 171.8 | 39.7 | |||||||||||||||||||||||
Income taxes payable | 353 | 475.6 | |||||||||||||||||||||||
Other | 193.8 | 157.2 | |||||||||||||||||||||||
$ | 821.9 | $ | 763.6 | ||||||||||||||||||||||
Supplemental Cash Flow Information | |||||||||||||||||||||||||
Supplemental cash flow information is summarized as follows: | |||||||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Income tax payments, net of refunds received | $ | 70.1 | $ | 67.2 | $ | 100.5 | |||||||||||||||||||
Interest paid | $ | 1,793.90 | $ | 1,458.20 | $ | 1,494.90 | |||||||||||||||||||
Distributions received from equity method investments | $ | 244.5 | $ | 194.8 | $ | 194.1 | |||||||||||||||||||
Significant non-cash transactions. During 2011 and 2010, the principal amount of FDC’s senior notes due 2015 increased by $73.1 million and $362.5 million, respectively, resulting from the “payment” of accrued interest expense. The decrease in the amount of interest expense accrued during 2011 is due to the December 2010 exchange of notes discussed below. The terms of FDC’s senior unsecured notes due 2015 require interest to be paid in cash for all periods after October 1, 2011. | |||||||||||||||||||||||||
In December 2011, the Company exchanged substantially all of its aggregate principal amounts of $3.0 billion of its 12.625% senior notes due 2021 for publicly tradable notes having substantially identical terms and guarantees, except that the exchange notes will be freely tradable. | |||||||||||||||||||||||||
In December 2010, the Company exchanged $3.0 billion of its 9.875% senior notes due 2015 and $3.0 billion of its 10.550% senior PIK notes due 2015 for $2.0 billion of 8.25% senior second lien notes due 2021, $1.0 billion of 8.75%/10.00% PIK toggle senior second lien notes due 2022 and $3.0 billion of 12.625% senior notes due 2021. | |||||||||||||||||||||||||
There were no expenditures, other than professional fees, or receipts of cash associated with the registration statement or exchange offer described above. | |||||||||||||||||||||||||
During 2012, 2011 and 2010, the Company entered into capital leases, net of trade-ins, totaling approximately $55 million, $106 million and $65 million, respectively. | |||||||||||||||||||||||||
As discussed in Note 3 of these Consolidated Financial Statements, the Company acquired 100% of Clover Network, Inc. and recorded a $20 million liability for the contingent consideration due to outside investors based upon the net present value of the Company’s estimate of the future payments. | |||||||||||||||||||||||||
Also discussed in Note 3 of these Consolidated Financial Statements, the Company acquired the remaining approximately 30 percent noncontrolling interest in Omnipay for approximately 37.1 million euro, of which 19.0 million euro ($25.1 million) was paid in April 2012 with the remainder to be paid in April 2013. | |||||||||||||||||||||||||
In November 2011, the Company contributed the assets of its transportation business to an alliance in exchange for a 30% interest in the alliance. Refer to Note 18 of these Consolidated Financial Statements for additional information. | |||||||||||||||||||||||||
Refer to Note 13 of these Consolidated Financial Statements for information concerning the Company’s stock-based compensation plans. | |||||||||||||||||||||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2012 | |
Related Party Transactions | ' |
Related Party Transactions | ' |
Note 10: Related Party Transactions | |
Merchant Alliances | |
A substantial portion of the Company’s business within the Retail and Alliance Services and International segments is conducted through merchant alliances. Merchant alliances are alliances between the Company and financial institutions. If the Company has majority ownership and management control over an alliance, then the alliance’s financial statements are consolidated with those of the Company and the related processing fees are treated as an intercompany transaction and eliminated upon consolidation. If the Company does not have a controlling ownership interest in an alliance, it uses the equity method of accounting to account for its investment in the alliance. As a result, the Company’s consolidated revenues include processing fees charged to alliances accounted for under the equity method. No directors or officers of the Company have ownership interests in any of the alliances. The formation of each of these alliances generally involves the Company and the bank contributing contractual merchant relationships to the alliance and a cash payment from one owner to the other to achieve the desired ownership percentage for each. The Company and the bank contract a long-term processing service agreement as part of the negotiation process. This agreement governs the Company’s provision of transaction processing services to the alliance. | |
The Company negotiated all agreements with the alliance banks. Therefore, all transactions between the Company and its alliances were conducted at arm’s length; nevertheless, accounting guidance defines a transaction between the Company and an equity method investee as a related party transaction requiring separate disclosure in the financial statements of the Company. Accordingly, the revenue associated with these related party transactions are presented on the face of the Consolidated Statements of Operations. | |
Management Agreement | |
First Data has a management agreement with affiliates of KKR (the “Management Agreement”) pursuant to which KKR provides management, consulting, financial and other advisory services to the Company. Pursuant to the Management Agreement, KKR receives an aggregate annual management fee and reimbursement of out-of-pocket expenses incurred in connection with the provision of services. The Management Agreement has an initial term expiring on December 31, 2019, provided that the term will be extended annually thereafter unless the Company provides prior written notice of its desire not to automatically extend the term. The Management Agreement provides that KKR also is entitled to receive a fee equal to a percentage of the gross transaction value in connection with certain subsequent financing, acquisition, disposition and change of control transactions, as well as a termination fee based on the net present value of future payment obligations under the Management Agreement in the event of an initial public offering or under certain other circumstances. The Management Agreement terminates automatically upon the consummation of an initial public offering and may be terminated at any time by mutual consent of the Company and KKR. The Management Agreement also contains customary exculpation and indemnification provisions in favor of KKR and its affiliates. During 2012, 2011 and 2010, the Company incurred $20.1 million, $20.0 million and $20.5 million, respectively, of management fees. | |
All members of the Company’s Board of Directors are affiliated with KKR. | |
Transactions and Balances Involving Company Affiliates | |
In August 2010, the Company paid KKR Capital Markets LLC (“KCM”), an affiliate of KKR, $5 million for services rendered in arranging for the amendment of the Company’s credit agreement. | |
On November 17, 2010, the Company entered into a dealer manager agreement and fee letter (collectively the “Dealer Manager Agreement”) with, among others, KCM, pursuant to which KCM agreed to act as a dealer manager for the exchange of certain of the Company’s existing notes for new securities (the “Exchange”). Under the terms of the Dealer Manager Agreement, upon completion of the Exchange in December 2010, the Company paid $26.1 million to KCM. | |
On April 12, 2011, the Company entered into an Amended and Restated Engagement Letter with KCM and others, pursuant to which KCM agreed to assist in arranging and coordinating the Company’s request for an extension of the maturity of certain commitment and loans under its senior secured lending facility. The Company paid KCM $1.25 million in April 2011 for such services. | |
On April 13, 2011, the Company entered into a Purchase Agreement with, among others, KCM, in which KCM agreed to serve as one of the initial purchasers for an offering of secured notes and receive a portion of the underwriting commission for the offering. Under the terms of the agreement, the Company paid underwriting commissions of $0.5 million to KCM. | |
On February 28, 2012, the Company entered into an Amended and Restated Engagement Letter with KCM and others, pursuant to which KCM agreed to assist in arranging and coordinating the Company’s request for an extension of the maturity of certain commitments and loans under its senior secured lending facility. The Company paid KCM $0.6 million for such services. | |
In 2012 and January 2013, KCM assisted the Company in arranging and coordinating the Company’s request for an extension of the maturity of certain commitments and loans under its senior secured lending facility. The Company paid KCM $2.4 million for such services. Also during 2012 and January 2013, the Company entered into purchase agreements in which KCM agreed to serve as one of the initial purchasers for offerings of secured notes and receive a portion of the underwriting commissions for the offerings. Under the terms of the agreements, the Company paid underwriting commissions to KCM of $8.6 million. | |
During 2012, 2011 and 2010, the Company paid $12.3 million, $12.0 million and $7.3 million, respectively, of expenses to Capstone Consulting LLC, a consulting company that works exclusively with KKR’s portfolio companies, for consulting, financial and other advisory services provided to the Company. | |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||
Commitments and Contingencies | ' | ' | ||||
Commitments and Contingencies | ' | ' | ||||
Note 7: Commitments and Contingencies | Note 11: Commitments and Contingencies | |||||
The Company is involved in various legal proceedings. Accruals have been made with respect to these matters, where appropriate, which are reflected in the Company’s Consolidated Financial Statements. The Company may enter into discussions regarding settlement of these matters, and may enter into settlement agreements, if it believes settlement is in the best interest of the Company. The matters discussed below, if decided adversely to or settled by the Company, individually or in the aggregate, may result in liability material to the Company’s financial condition and/or results of operations. | Operating Leases | |||||
Legal | The Company leases certain of its facilities and equipment under operating lease agreements, substantially all of which contain renewal options and escalation provisions. The following table presents the amounts associated with total rent expense for operating leases: | |||||
On July 2, 2004, a class action complaint was filed against the Company, its subsidiary Concord EFS, Inc., and various financial institutions. Plaintiffs claim that the defendants violated antitrust laws by conspiring to artificially inflate foreign ATM fees that were ultimately charged to ATM cardholders. Plaintiffs seek a declaratory judgment, injunctive relief, compensatory damages, attorneys’ fees, costs and such other relief as the nature of the case may require or as may seem just and proper to the court. Similar suits were filed and served in July, August and October 2004 (referred to collectively as the “ATM Fee Antitrust Litigation”). The Court granted judgment in favor of the defendants, dismissing the case on September 17, 2010. On October 14, 2010, the plaintiffs appealed the summary judgment. On July 12, 2012, the United States Court of Appeals for the Ninth Circuit affirmed the Northern District Court of California’s dismissal of all the claims against the defendants. On July 26, 2012, the plaintiffs petitioned the Ninth Circuit for rehearing en banc and on March 13, 2013, the United States Court of Appeals for the Ninth Circuit issued an order denying the plaintiffs’ petition for rehearing. On July 11, 2013, the plaintiffs filed a petition for a writ of certiorari with the United States Supreme Court and on October 7, 2013, the United States Supreme Court denied such writ of certiorari. | Year ended December 31, | Amount | ||||
(in millions) | ||||||
There are asserted claims against the Company where an unfavorable outcome is considered to be reasonably possible. These claims can generally be categorized in the following areas: (1) patent infringement which results from claims that the Company is using technology that has been patented by another party; (2) merchant matters often associated with alleged processing errors or disclosure issues and claims that one of the subsidiaries of the Company has violated a federal or state requirement regarding credit reporting or collection in connection with its check verification guarantee, and collection activities; and (3) other matters which may include issues such as employment. The Company’s estimates of the possible ranges of losses in excess of any amounts accrued are $0 to $40 million for patent infringement, $0 to $45 million for merchant matters and $0 to $5 million for other matters, resulting in a total estimated range of possible losses of $0 to $90 million for all of the matters described above. | 2012 | $ | 72.4 | |||
2011 | 81.3 | |||||
The estimated range of reasonably possible losses is based on currently available information and involves elements of judgment and significant uncertainties. As additional information becomes available and the resolution of the uncertainties becomes more apparent, it is possible that actual losses may exceed even the high end of the estimated range. | 2010 | 83.7 | ||||
Other | ||||||
Future minimum aggregate rental commitments as of December 31, 2012 under all noncancelable operating leases, net of sublease income, were $293.3 million and are due in the following years: | ||||||
In the normal course of business, the Company is subject to claims and litigation, including indemnification obligations to purchasers of former subsidiaries. Management of the Company believes that such matters will not have a material adverse effect on the Company’s results of operations, liquidity or financial condition. | ||||||
Year ended December 31, | Amount | |||||
(in millions) | ||||||
2013 | $ | 57.3 | ||||
2014 | 47.1 | |||||
2015 | 37.8 | |||||
2016 | 34.4 | |||||
2017 | 26.8 | |||||
Thereafter | 89.9 | |||||
Sublease income is earned from leased space which FDC concurrently subleases to third parties with comparable time periods. As of December 31, 2012, there were no sublease amounts in FDC obligations. In addition, the Company has certain guarantees imbedded in leases and other agreements wherein the Company is required to relieve the counterparty in the event of changes in the tax code or rates. The Company believes the fair value of such guarantees is insignificant due to the likelihood and extent of the potential changes. | ||||||
Letters of Credit | ||||||
The Company has $45.1 million in outstanding letters of credit as of December 31, 2012, all of which were issued under the Company’s senior secured revolving credit facility and expire prior to December 10, 2013 with a one-year renewal option. The letters of credit are held in connection with lease arrangements, bankcard association agreements and other security agreements. The Company expects to renew most of the letters of credit prior to expiration. | ||||||
Contingencies | ||||||
The Company is involved in various legal proceedings. Accruals have been made with respect to these matters, where appropriate, which are reflected in the Company’s consolidated financial statements. The Company may enter into discussions regarding settlement of these matters, and may enter into settlement agreements, if it believes settlement is in the best interest of the Company. The matters discussed below, if decided adversely to or settled by the Company, individually or in the aggregate, may result in liability material to the Company’s financial condition and/or results of operations. | ||||||
On July 2, 2004, a class action complaint was filed against the Company, its subsidiary Concord EFS, Inc., and various financial institutions. Plaintiffs claim that the defendants violated antitrust laws by conspiring to artificially inflate foreign ATM fees that were ultimately charged to ATM cardholders. Plaintiffs seek a declaratory judgment, injunctive relief, compensatory damages, attorneys’ fees, costs and such other relief as the nature of the case may require or as may seem just and proper to the court. Similar suits were filed and served in July, August and October 2004 (referred to collectively as the “ATM Fee Antitrust Litigation”). The Court granted judgment in favor of the defendants, dismissing the case on September 17, 2010. On October 14, 2010, the plaintiffs appealed the summary judgment. On July 12, 2012, the United States Court of Appeals for the Ninth Circuit affirmed the Northern District Court of California’s dismissal of all the claims against the defendants. On July 26, 2012, the plaintiffs petitioned the Ninth Circuit for rehearing en banc. The Company continues to believe the complaints are without merit and intends to vigorously defend them. | ||||||
There are asserted claims against the Company where an unfavorable outcome is considered to be reasonably possible. These claims can generally be categorized in the following areas: (1) patent infringement which results from claims that the Company is using technology that has been patented by another party; (2) Merchant customer matters often associated with alleged processing errors or disclosure issues and claims that one of the subsidiaries of the Company has violated a federal or state requirement regarding credit reporting or collection in connection with its check verification guarantee, and collection activities; and (3) other matters which may include issues such as employment. The Company’s estimates of the possible ranges of losses in excess of any amounts accrued are $0 to $6 million for patent infringement, $0 to $75 million for merchant customer matters and $0 to $4 million for other matters, resulting in a total estimated range of possible losses of $0 to $85 million for all of the matters described above. | ||||||
The estimated range of reasonably possible losses is based on currently available information and involves elements of judgment and significant uncertainties. As additional information becomes available and the resolution of the uncertainties becomes more apparent, it is possible that actual losses may exceed even the high end of the estimated range. | ||||||
Other | ||||||
In the normal course of business, the Company is subject to claims and litigation, including indemnification obligations to purchasers of former subsidiaries. Management of the Company believes that such matters will not have a material adverse effect on the Company’s results of operations, liquidity or financial condition. | ||||||
As discussed in Note 3 of these Consolidated Financial Statements, during the year ended December 31, 2012, contingent consideration was recorded related to the acquisition of Clover Network, Inc. The transaction called for cash consideration as well as a series of contingent payments based on the achievement of specified sales targets. These contingent payments are classified as purchase consideration if made to outside investors and compensation if made to current and future employees. As part of the purchase price, the Company recorded a $20 million liability for the contingent consideration due to outside investors based upon the net present value of the Company’s estimate of the future payments. | ||||||
Also during the year ended December 31, 2012, contingent consideration was recorded related to a small divestiture. The transaction called for a series of contingent payments based on revenue over three years. As part of the sale price, the Company recorded a $14 million asset for the contingent consideration due based upon the net present value of the Company’s estimate of future receipts from the buyer. | ||||||
First_Data_Corporation_Stockho
First Data Corporation Stockholder's Equity and Redeemable Noncontrolling Interests | 12 Months Ended | ||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||
First Data Corporation Stockholder's Equity and Redeemable Noncontrolling Interests | ' | ||||||||||||||||
First Data Corporation Stockholder's Equity and Redeemable Noncontrolling Interests | ' | ||||||||||||||||
Note 12: First Data Corporation Stockholder’s Equity and Redeemable Noncontrolling Interests | |||||||||||||||||
Dividends | |||||||||||||||||
The Company’s senior secured revolving credit facility, senior secured term loan facility, senior secured notes, senior second lien notes, PIK toggle senior second lien notes, senior notes and senior subordinated notes contain restrictions on the Company’s ability to pay dividends. The restrictions are subject to numerous qualifications and exceptions, including an exception that allows the Company to pay a dividend to repurchase, under certain circumstances, the equity of Parent held by employees, officers and directors that were obtained in connection with the stock compensation plan. The Company paid cash dividends to its parent totaling $6.7 million during 2012, $0.2 million during 2011, and $14.9 million during 2010. | |||||||||||||||||
Other Comprehensive Income | |||||||||||||||||
The income tax effects allocated to and the cumulative balance of each component of OCI are as follows: | |||||||||||||||||
(in millions) | Beginning | Pretax | Tax | Net-of- | Ending | ||||||||||||
Balance | Gain | (Benefit) | Tax | Balance | |||||||||||||
(Loss) | Expense | Amount | |||||||||||||||
Amount | |||||||||||||||||
As of December 31, 2012 | |||||||||||||||||
Unrealized gains (losses) on securities | $ | 0.9 | $ | 0.3 | $ | 0.1 | $ | 0.2 | $ | 1.1 | |||||||
Unrealized gains (losses) on hedging activities | (72.2 | ) | 114.9 | 42.7 | 72.2 | — | |||||||||||
Foreign currency translation adjustment | (438.3 | ) | 28.4 | 16 | 12.4 | (425.9 | ) | ||||||||||
Pension liability adjustments | (88.8 | ) | (61.8 | ) | (23.2 | ) | (38.6 | ) | (127.4 | ) | |||||||
$ | (598.4 | ) | $ | 81.8 | $ | 35.6 | $ | 46.2 | $ | (552.2 | ) | ||||||
As of December 31, 2011 | |||||||||||||||||
Unrealized gains (losses) on securities | $ | 0.1 | $ | 1.3 | $ | 0.5 | $ | 0.8 | $ | 0.9 | |||||||
Unrealized gains (losses) on hedging activities | (171.8 | ) | 158.6 | 59 | 99.6 | (72.2 | ) | ||||||||||
Foreign currency translation adjustment | (400.3 | ) | (79.0 | ) | (41.0 | ) | (38.0 | ) | (438.3 | ) | |||||||
Pension liability adjustments | (64.9 | ) | (38.8 | ) | (14.9 | ) | (23.9 | ) | (88.8 | ) | |||||||
$ | (636.9 | ) | $ | 42.1 | $ | 3.6 | $ | 38.5 | $ | (598.4 | ) | ||||||
As of December 31, 2010 | |||||||||||||||||
Unrealized gains (losses) on securities | $ | (27.4 | ) | $ | 44 | $ | 16.5 | $ | 27.5 | $ | 0.1 | ||||||
Unrealized gains (losses) on hedging activities | (242.1 | ) | 115.2 | 44.9 | 70.3 | (171.8 | ) | ||||||||||
Foreign currency translation adjustment | (318.8 | ) | (65.5 | ) | 16 | (81.5 | ) | (400.3 | ) | ||||||||
Pension liability adjustments | (93.4 | ) | 44.9 | 16.4 | 28.5 | (64.9 | ) | ||||||||||
$ | (681.7 | ) | $ | 138.6 | $ | 93.8 | $ | 44.8 | $ | (636.9 | ) | ||||||
The net-of-tax Foreign currency translation adjustment presented above for the year ended December 31, 2012, 2011 and 2010 is different than the amount presented on the Consolidated Statements of Comprehensive Income (Loss) by $3.3 million, $6.9 million and $3.1 million, respectively, due to the foreign currency translation adjustment related to noncontrolling interests not included above. | |||||||||||||||||
Other First Data Corporation Stockholder’s Equity Transactions | |||||||||||||||||
The following table presents the effects of changes in FDC’s ownership interest in Omnipay and its BAMS alliance on FDC’s equity: | |||||||||||||||||
Year ended December 31, | |||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | ||||||||||||||
Net loss attributable to FDC | $ | (700.9 | ) | $ | (516.1 | ) | $ | (1,021.8 | ) | ||||||||
Transfers from noncontrolling interests: | |||||||||||||||||
Decrease in FDC’s paid-in capital for loss recognized from purchase of noncontrolling interest, including tax effect | (46.1 | ) | — | (7.5 | ) | ||||||||||||
Change in net loss attributable to FDC and transfers from noncontrolling interests | $ | (747.0 | ) | $ | (516.1 | ) | $ | (1,029.3 | ) | ||||||||
Redeemable Noncontrolling Interest | |||||||||||||||||
The following table presents a summary of the redeemable noncontrolling interest activity in 2012 and 2011: | |||||||||||||||||
(in millions) | Redeemable | ||||||||||||||||
Noncontrolling | |||||||||||||||||
Interest | |||||||||||||||||
Balance as of January 1, 2011 | $ | 28.1 | |||||||||||||||
Distributions | (31.2 | ) | |||||||||||||||
Share of income | 32 | ||||||||||||||||
Adjustment to redemption value of redeemable noncontrolling interest | 38.6 | ||||||||||||||||
Other | (0.1 | ) | |||||||||||||||
Balance as of December 31, 2011 | 67.4 | ||||||||||||||||
Distributions | (36.0 | ) | |||||||||||||||
Share of income | 36 | ||||||||||||||||
Balance as of December 31, 2012 | $ | 67.4 | |||||||||||||||
Stock_Compensation_Plans
Stock Compensation Plans | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
Stock Compensation Plans | ' | ' | |||||||||||||||||||||||
Stock Compensation Plans | ' | ' | |||||||||||||||||||||||
Note 9: Stock Compensation Plans | |||||||||||||||||||||||||
Note 13: Stock Compensation Plans | |||||||||||||||||||||||||
The Company defers recognition of substantially all of the stock-based compensation expense related to stock options and non-vested restricted stock awards and units. Due to the nature of call rights associated with stock options, the Company will recognize expense related to most options only upon certain liquidity or employment termination events. The nature of the call rights associated with stock options creates a performance condition that is not considered probable until the occurrence of one of the events described above. The call rights create a performance condition as they allow the Company to repurchase options at the lesser of the fair value or the exercise price upon an option holder’s voluntary termination. | |||||||||||||||||||||||||
The Company's parent, Holdings, has a stock incentive plan for certain management employees of FDC and its affiliates ("stock plan"). The stock plan provides the opportunity for certain management employees to purchase shares in Holdings and then receive a number of options or restricted stock based on a multiple of their investment in such shares. The plan also allows for the Company to award shares and options to management employees. The participants of the stock plan enter into a management stockholders' agreement. Principal terms of the management stockholders' agreement include restrictions on transfers, lock ups, right of first refusal, registration rights, and a confidentiality, non-solicitation and non-compete covenant. The expense associated with this plan is recorded by FDC. The number of shares authorized under the stock plan is 119.5 million, 83 million of which are authorized for options. | |||||||||||||||||||||||||
Stock-based compensation expense will be recognized related to certain restricted stock awards and units only upon a liquidity or employment termination event which triggers vesting. For the remaining awards that vest based solely on service conditions, expense is recognized over the requisite service period. | |||||||||||||||||||||||||
The participants of the stock plan have the right to require Holdings to repurchase the shares and options upon the employee's termination due to death or disability. The put rights expire one year after the termination event or upon a change in control. The repurchase price for the shares is their fair market value at the time of repurchase. The repurchase price for the options is their intrinsic value at the time of repurchase. | |||||||||||||||||||||||||
Under certain circumstances, the Company redeems common stock held by its employees on behalf of its Parent Company First Data Holding Inc. (“Holdings”). | |||||||||||||||||||||||||
Total stock-based compensation expense recognized in the "Selling, general and administrative" line item of the Consolidated Statements of Operations resulting from stock options, non-vested restricted stock awards and non-vested restricted stock units was as follows: | |||||||||||||||||||||||||
Total stock-based compensation expense recognized in the “Selling, general and administrative” line item of the Consolidated Statements of Operations was as follows: | |||||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | Amount | ||||||||||||||||||||||
September 30, | September 30, | (in millions) | |||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | 2012 | $ | 12.4 | ||||||||||||||||||
Total stock-based compensation expense (pretax) | $ | 5.5 | $ | 3.6 | $ | 37.1 | $ | 10.9 | 2011 | 17.6 | |||||||||||||||
2010 | 17.1 | ||||||||||||||||||||||||
During the nine months ended September 30, 2013, approximately $20 million of stock-based compensation expense was recognized as a result of granting an executive officer shares of common stock of Holdings and fully vested restricted stock units. | The Company has a deferred compensation plan for non-employee directors that allows each of these directors to defer their annual compensation. The plan is unfunded. For purposes of determining the investment return on the deferred compensation, each director's account is treated as if credited with a number of shares of Holdings stock determined by dividing the deferred compensation amount by the first Board approved fair value of the stock during the year. The account balance will be paid in cash upon termination of Board service, certain liquidity events or other certain events at the fair value of the stock at the time of settlement. Due to the cash settlement provisions, the account balances are recorded as a liability and are adjusted to fair value quarterly. As of December 31, 2012, the balance of this liability was $0.8 million. | ||||||||||||||||||||||||
Stock Options | Stock Options | ||||||||||||||||||||||||
During the nine months ended September 30, 2013 time-based options were granted under the stock plan. The time-based options granted generally vest equally over a three to five year period. | During the years ended December 31, 2012, 2011 and 2010, time-based options were granted under the stock plan and during the years ended December 31, 2011 and 2010, performance-based options were granted under the stock plan. The time-based options and performance-based options have a contractual term of 10 years. Time-based options vest equally over a three to five year period from the date of issuance and performance-based options vest based upon the Company achieving certain EBITDA targets. The options also have certain accelerated vesting provisions that become effective upon a change in control, a qualified public offering, or certain termination events. | ||||||||||||||||||||||||
As of September 30, 2013 there was approximately $178 million of total unrecognized compensation expense related to non-vested stock options. Approximately $3 million will be recognized over a period of approximately one year while approximately $175 million will only be recognized upon the occurrence of certain liquidity or employment termination events. | In May 2010, the Company modified the terms of time-based options and substantially all performance-based options outstanding under the stock plan. The modifications only affected active employees as of the modification date. The exercise price on previously granted time-based options was reduced from $5 to $3. The Company is continuing to recognize expense on these options based on the original grant date fair value amortized over the remaining original vesting schedule. Subsequent to the modification, due to the nature of the call rights associated with the time-based options, which expire 180 days after certain employment termination events or the latter of September 24, 2012 or a qualified public offering, the incremental stock option fair value from the change in exercise price and the total fair value of time-based options issued since the modification date will only be recognized upon the occurrence of such events. Prior to the modifications, the call rights expired 180 days after certain employment termination events or the earlier of September 24, 2012 or a change in control. In addition, substantially all outstanding performance-based options were cancelled and reissued. The reissued performance-based options have an exercise price of $3 and a tiered vesting schedule that provides for vesting of 25%, 75% or 100% of the options if the Company achieves certain EBITDA targets in any fiscal year between January 1, 2010 and December 31, 2013. The performance-based options have the same call rights as the time-based options described above. Due to the call rights, the Company will only recognize expense on the performance-based options upon certain employment termination events or the latter of September 24, 2012 or a qualified public offering. In conjunction with the above noted modifications, stock plan participants also received a cash bonus payment in the second quarter of 2010 totaling $7.8 million. | ||||||||||||||||||||||||
The fair value of Holdings stock options granted for the nine months ended September 30, 2013 were estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions: | The nature of the call rights associated with stock options described above creates a performance condition that is not considered probable until the occurrence of one of the events described above. The call rights create a performance condition as they allow the Company to repurchase options at the lesser of the fair value or the exercise price upon an option holder's voluntary termination. | ||||||||||||||||||||||||
Nine months ended | As of December 31, 2012 there was approximately $99 million of total unrecognized compensation expense related to non-vested stock options. Approximately $5 million will be recognized over a period of approximately two years while approximately $94 million will only be recognized upon a qualified public offering or certain liquidity or employment termination events. | ||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
Risk-free interest rate | 1.38 | % | During 2012, 2011, and 2010, Holdings paid $3.1 million, $2.9 million, and $21.9 million, respectively, to repurchase shares from employees that terminated employment with the Company. | ||||||||||||||||||||||
Dividend yield | — | ||||||||||||||||||||||||
Volatility | 56.64 | % | The fair value of Holdings stock options granted for the years ended December 31, 2012, 2011 and 2010 were estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions (excluding the effect of stock plan modifications): | ||||||||||||||||||||||
Expected term (in years) | 7 | ||||||||||||||||||||||||
Fair value of stock | $ | 3.5 | |||||||||||||||||||||||
Fair value of options | $ | 1.99 | Year ended December 31, | ||||||||||||||||||||||
2012 | 2011 | 2010 | |||||||||||||||||||||||
A summary of Holdings stock option activity for the nine months ended September 30, 2013 is as follows: | Risk-free interest rate | 1.45 | % | 2.86 | % | 3.03 | % | ||||||||||||||||||
Dividend yield | — | — | — | ||||||||||||||||||||||
(options in millions) | Options | Weighted-Average | Volatility | 51.77 | % | 54.65 | % | 51.4 | % | ||||||||||||||||
Exercise Price | Expected term (in years) | 7 | 7 | 7 | |||||||||||||||||||||
Outstanding at January 1, 2013 | 77.6 | $ | 3 | Fair value of stock(a) | $ | 3 | $ | 3 | $ | 3 | |||||||||||||||
Granted | 50.2 | $ | 3.5 | Fair value of options | $ | 1.6 | $ | 1.73 | $ | 1.66 | |||||||||||||||
Exercised | (5.5 | ) | $ | 3 | |||||||||||||||||||||
Cancelled / Forfeited | (8.3 | ) | $ | 3.02 | |||||||||||||||||||||
Outstanding at September 30, 2013 | 114 | $ | 3.22 | (a) | |||||||||||||||||||||
Options exercisable as of September 30, 2013 | 30.3 | $ | 3.02 | The fair value of the stock increased from $3.00 to $3.50 effective March 31, 2012. | |||||||||||||||||||||
Restricted Stock Awards and Restricted Stock Units | Risk-free interest rate—The risk-free rate for stock options granted during the period was determined by using a zero-coupon U.S. Treasury rate for the periods that coincided with the expected terms listed above. | ||||||||||||||||||||||||
Restricted stock awards were granted under the stock plan during the nine months ended September 30, 2013. As of September 30, 2013, there was approximately $58 million of total unrecognized compensation expense, net of estimated forfeitures, related to restricted stock. Approximately $4 million will be recognized over a period of approximately two years while approximately $54 million will only be recognized upon the occurrence of certain liquidity or employment termination events. | Expected dividend yield—No routine dividends are currently being paid by Holdings, or are expected to be paid in future periods. | ||||||||||||||||||||||||
A summary of Holdings restricted stock award and restricted stock unit activity for the nine months ended September 30, 2013 is as follows: | Expected volatility—As Holdings is a non-publicly traded company, the expected volatility is based on the historical volatilities of a group of guideline companies. | ||||||||||||||||||||||||
(awards/units in millions) | Awards/Units | Weighted-Average | Expected term—The Company estimated the expected term by considering the historical exercise and termination behavior of employees that participated in the Company's previous equity plans, the vesting conditions of options granted under the stock plan, as well as the impact of limited liquidity for common stock of a non-publicly traded company. | ||||||||||||||||||||||
Grant-Date Fair | |||||||||||||||||||||||||
Value | Fair value of stock—The Company relied in part upon a third-party valuation firm in determining the fair value of Holdings stock. All key assumptions and valuations were determined by and are the responsibility of management. | ||||||||||||||||||||||||
Non-vested at January 1, 2013 | 13.6 | $ | 3 | ||||||||||||||||||||||
Granted | 9.6 | $ | 3.5 | A summary of Holdings stock option activity for the year ended December 31, 2012 is as follows: | |||||||||||||||||||||
Vested | (3.1 | ) | $ | 3.23 | |||||||||||||||||||||
Cancelled / Forfeited | (1.1 | ) | $ | 3.02 | |||||||||||||||||||||
Non-vested at September 30, 2013 | 19 | $ | 3.21 | (options in millions) | Options | Weighted-Average | Weighted-Average | ||||||||||||||||||
Exercise Price | Remaining | ||||||||||||||||||||||||
Contractual | |||||||||||||||||||||||||
Term | |||||||||||||||||||||||||
Outstanding as of January 1, 2012 | 73 | $ | 3 | ||||||||||||||||||||||
Granted | 8 | $ | 3 | ||||||||||||||||||||||
Exercised | (0.4 | ) | $ | 3.5 | |||||||||||||||||||||
Cancelled / Forfeited | (3.0 | ) | $ | 3 | |||||||||||||||||||||
Outstanding as of December 31, 2012 | 77.6 | $ | 3 | 7 years | |||||||||||||||||||||
Options exercisable as of December 31, 2012 | 27.5 | $ | 3 | 6 years | |||||||||||||||||||||
The total intrinsic value and amount paid related to stock options exercised during the twelve months ended December 31, 2012 was $0.2 million and no shares were exercised during 2011 or 2010. | |||||||||||||||||||||||||
Restricted Stock Awards and Restricted Stock Units | |||||||||||||||||||||||||
Restricted stock awards were granted under the stock plan during 2012, 2011 and 2010. Grants were made as incentive awards. The restrictions on the awards granted subsequent to the modifications described above will lapse upon a qualified public offering, a change in control or certain employment termination or liquidity events. As such, the Company is not recognizing expense on awards granted subsequent to the modifications described above. The Company is continuing to recognize expense on the restricted stock awards granted prior to the modifications described above based on the original grant date fair value amortized over the remaining original vesting schedule. As of December 31, 2012 there was approximately $41 million of total unrecognized compensation expense related to restricted stock. Approximately $0.1 million will be recognized over a period of approximately two years with the remainder recognized upon the occurrence of certain liquidity or employment termination events. | |||||||||||||||||||||||||
During 2012, 2011, and 2010, the Company paid $1.5 million, $0.5 million, and $2.5 million, respectively, to repurchase stock awards from employees that terminated employment with the Company. | |||||||||||||||||||||||||
A summary of Holdings restricted stock award and restricted stock unit activity for the year ended December 31, 2012 is as follows: | |||||||||||||||||||||||||
(awards/units in millions) | Awards/Units | Weighted-Average | |||||||||||||||||||||||
Grant-Date Fair Value | |||||||||||||||||||||||||
Non-vested as of January 1, 2012 | 10.9 | $ | 3.14 | ||||||||||||||||||||||
Granted | 4 | $ | 3 | ||||||||||||||||||||||
Vested | (0.7 | ) | $ | 4.74 | |||||||||||||||||||||
Cancelled / Forfeited | (0.6 | ) | $ | 3.16 | |||||||||||||||||||||
Non-vested as of December 31, 2012 | 13.6 | $ | 3 | ||||||||||||||||||||||
The total fair value of shares vested (measured as of the date of vesting) during the twelve months ended December 31, 2012, 2011 and 2010 was $2.5 million, $0.5 million, and $2.4 million, respectively. | |||||||||||||||||||||||||
Employee_Benefit_Plans
Employee Benefit Plans | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||
Employee Benefit Plans | ' | ' | ||||||||||||||||||||||||||
Employee Benefit Plans | ' | ' | ||||||||||||||||||||||||||
Note 8: Employee Benefit Plans | Note 14: Employee Benefit Plans | |||||||||||||||||||||||||||
The following table provides the components of net periodic benefit expense (income) for the Company’s defined benefit pension plans: | Defined Contribution Plans | |||||||||||||||||||||||||||
Three months ended | Nine months ended | FDC maintains defined contribution savings plans covering virtually all of the Company’s U.S. employees and defined contribution pension plans for international employees primarily in the United Kingdom and Australia. The plans provide tax-deferred amounts for each participant, consisting of employee elective contributions, Company matching and discretionary Company contributions. | ||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | The following table presents the aggregate amounts charged to expense in connection with these plans: | |||||||||||||||||||||||
Service costs | $ | 0.6 | $ | 0.7 | $ | 1.9 | $ | 2.1 | ||||||||||||||||||||
Interest costs | 9.3 | 9.3 | 28 | 27.8 | Year ended December 31, | Amount | ||||||||||||||||||||||
Expected return on plan assets | (10.9 | ) | (11.1 | ) | (32.8 | ) | (33.4 | ) | (in millions) | |||||||||||||||||||
Amortization | 0.9 | 0.4 | 2.7 | 1.3 | 2012 | $ | 45.2 | |||||||||||||||||||||
Net periodic benefit expense (income) | $ | (0.1 | ) | $ | (0.7 | ) | $ | (0.2 | ) | $ | (2.2 | ) | 2011 | 42.7 | ||||||||||||||
2010 | 41.1 | |||||||||||||||||||||||||||
The Company estimates pension plan contributions for 2013 to be approximately $36 million. During the nine months ended September 30, 2013, approximately $22 million was contributed to the United Kingdom plan and approximately $7 million was contributed to the U.S. plan. | ||||||||||||||||||||||||||||
Defined Benefit Plans | ||||||||||||||||||||||||||||
The Company has a defined benefit pension plan which is frozen and covers certain full-time employees in the U.S. The Company also has separate plans covering certain employees located primarily in the United Kingdom, Germany, Greece and Austria. | ||||||||||||||||||||||||||||
In December 2011, the Company received judicial confirmation that a change in U.K. law restricted the Company’s ability to eliminate the effects of future compensation increases on the plan’s benefits associated with a curtailment recorded in 2009. As a result, benefits related to future compensation increases were reinstated but the plan remained frozen to benefit accruals related to length of service and all other factors. The Company recorded a loss of approximately $7 million, net of income taxes, in other comprehensive income in 2011. In December 2012, the Company initiated actions to freeze the plan benefits related to future salary increases subject to participant approval. The Company expects to record a curtailment gain in other comprehensive income in 2013. | ||||||||||||||||||||||||||||
The Company uses December 31 as the measurement date for its plans. | ||||||||||||||||||||||||||||
The following table provides a reconciliation of the changes in the plans’ projected benefit obligations and fair value of assets for the years ended December 31, 2012 and 2011, as well as a statement of the funded status as of the respective period ends. | ||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | ||||||||||||||||||||||||||
Change in benefit obligation | ||||||||||||||||||||||||||||
Benefit obligation at beginning of period | $ | 798.5 | $ | 725.9 | ||||||||||||||||||||||||
Service costs | 5 | 6.1 | ||||||||||||||||||||||||||
Interest costs | 37.7 | 39.8 | ||||||||||||||||||||||||||
U.K. plan benefit reinstatement | — | 10.9 | ||||||||||||||||||||||||||
Actuarial (gain)/loss | 79 | 35.7 | ||||||||||||||||||||||||||
Termination benefits (a) | 0.1 | 0.9 | ||||||||||||||||||||||||||
Benefits paid | (29.8 | ) | (27.5 | ) | ||||||||||||||||||||||||
Foreign currency translation | 18.6 | 6.7 | ||||||||||||||||||||||||||
Benefit obligation at end of period | 909.1 | 798.5 | ||||||||||||||||||||||||||
Change in plan assets | ||||||||||||||||||||||||||||
Fair value of plan assets at the beginning of period | 721.1 | 656.3 | ||||||||||||||||||||||||||
Actual return on plan assets | 61 | 53.9 | ||||||||||||||||||||||||||
Company contributions | 31.6 | 29.9 | ||||||||||||||||||||||||||
Benefits paid | (26.4 | ) | (25.7 | ) | ||||||||||||||||||||||||
Foreign currency translation | 18.5 | 6.7 | ||||||||||||||||||||||||||
Fair value of plan assets at end of period | 805.8 | 721.1 | ||||||||||||||||||||||||||
Funded status of the plans | $ | (103.3 | ) | $ | (77.4 | ) | ||||||||||||||||||||||
(a) Related to restructuring activities in Europe. | ||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | ||||||||||||||||||||||||||
U.K. plan: | ||||||||||||||||||||||||||||
Plan benefit obligations | $ | (659.5 | ) | $ | (574.7 | ) | ||||||||||||||||||||||
Fair value of plan assets | 658.3 | 588.4 | ||||||||||||||||||||||||||
Net pension (liabilities) assets (a) (b) | (1.2 | ) | 13.7 | |||||||||||||||||||||||||
U.S. and other foreign plans: | ||||||||||||||||||||||||||||
Plan benefit obligations | (249.6 | ) | (223.8 | ) | ||||||||||||||||||||||||
Fair value of plan assets | 147.5 | 132.7 | ||||||||||||||||||||||||||
Net pension liabilities (b) | $ | (102.1 | ) | $ | (91.1 | ) | ||||||||||||||||||||||
Funded status of the plans | $ | (103.3 | ) | $ | (77.4 | ) | ||||||||||||||||||||||
(a) Pension assets are included in the “Other long-term assets” line of the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
(b) Pension liabilities are included in the “Other long-term liabilities” line of the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
The accumulated benefit obligation for all defined benefit pension plans was $896.7 million and $786.8 million as of December 31, 2012 and 2011, respectively. | ||||||||||||||||||||||||||||
The following table summarizes the activity in other comprehensive income, net of tax: | ||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
Total unrecognized gain/(loss) included in other comprehensive income at the beginning of period | $ | (88.8 | ) | $ | (64.9 | ) | $ | (93.4 | ) | |||||||||||||||||||
Unrecognized gain/(loss) arising during the period | (39.9 | ) | (17.7 | ) | 27.1 | |||||||||||||||||||||||
U.K. plan benefit reinstatement | — | (7.0 | ) | — | ||||||||||||||||||||||||
Amortization of deferred gains/(losses) to net periodic benefit expense (a) | 1.3 | 0.8 | 1.4 | |||||||||||||||||||||||||
Total unrecognized gain/(loss) included in other comprehensive income at end of period | $ | (127.4 | ) | $ | (88.8 | ) | $ | (64.9 | ) | |||||||||||||||||||
(a) Expected amortization of deferred losses to net periodic benefit expense in 2013 is $4.0 million pretax. | ||||||||||||||||||||||||||||
Amounts recorded in other comprehensive income represent unrecognized net actuarial gains and losses. The Company does not have net transition assets or obligations. | ||||||||||||||||||||||||||||
The following table provides the components of net periodic benefit cost for the plans: | ||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
Service costs | $ | 5 | $ | 6.1 | $ | 3.1 | ||||||||||||||||||||||
Interest costs | 37.7 | 39.8 | 40 | |||||||||||||||||||||||||
Expected return on plan assets | (44.7 | ) | (46.5 | ) | (40.4 | ) | ||||||||||||||||||||||
Amortization | 2.1 | 1.3 | 2.2 | |||||||||||||||||||||||||
Net periodic benefit expense | $ | 0.1 | $ | 0.7 | $ | 4.9 | ||||||||||||||||||||||
Assumptions. The weighted-average rate assumptions used in the measurement of the Company’s benefit obligations are as follows: | ||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||||
Discount rate | 4.29 | % | 4.75 | % | 5.4 | % | ||||||||||||||||||||||
Rate of compensation increase (a) | 3.95 | % | 3.77 | % | 4 | % | ||||||||||||||||||||||
(a) The rate of compensation increases generally apply to active plans. | ||||||||||||||||||||||||||||
The weighted-average rate assumptions used in the measurement of the Company’s net cost are as follows: | ||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||||
Discount rate | 4.71 | % | 5.21 | % | 5.55 | % | ||||||||||||||||||||||
Expected long-term return on plan assets | 6.11 | % | 6.83 | % | 6.86 | % | ||||||||||||||||||||||
Rate of compensation increase (a) | 3.6 | % | 4.24 | % | 4 | % | ||||||||||||||||||||||
(a) The rate of compensation increases generally apply to active plans. | ||||||||||||||||||||||||||||
Assumptions for the U.S. plans and the foreign plans are comparable in all of the above periods. The Company employs a building block approach in determining the long-term rate of return for plan assets with proper consideration of diversification and re-balancing. Historical markets are studied and long-term historical relationships between equities and fixed-income securities are preserved consistent with the widely accepted capital market principle that assets with higher volatility generate a greater return over the long run. Current market factors such as inflation and interest rates are evaluated before long-term capital market assumptions are determined. Peer data and historical returns are reviewed to check for reasonableness and appropriateness. All assumptions are the responsibility of management. | ||||||||||||||||||||||||||||
Plan assets. The Company’s pension plan target asset allocation, based on the investment policy as of December 31, 2012, is as follows: | ||||||||||||||||||||||||||||
Target | Target | |||||||||||||||||||||||||||
allocation | allocation | |||||||||||||||||||||||||||
Asset Category | U.S. plans | Foreign plans | ||||||||||||||||||||||||||
Equity securities | 40 | % | 60 | % | ||||||||||||||||||||||||
Debt securities | 60 | % | 40 | % | ||||||||||||||||||||||||
The Company employs a total return investment approach whereby a mix of equities and fixed income investments are used to maximize the long-term return of plan assets for a prudent level of risk. Risk tolerance is established through careful consideration of plan liabilities and plan funded status. The investment portfolio contains a diversified blend of equity and fixed-income investments. Furthermore, equity investments are diversified across U.S. and global equity investments. In addition, private equity securities comprise a very small part of the equity allocation. The fixed income allocation is a combination of fixed income investment strategies designed to contribute to the total rate of return of all plan assets while minimizing risk and supporting the duration of plan liabilities. | ||||||||||||||||||||||||||||
Investment risk is measured and monitored on an ongoing basis through quarterly investment portfolio reviews, annual liability measurements, and periodic asset and liability studies. The general philosophy of the Benefit Committee in setting the allocation percentages for the domestic plan shown above is to adhere to the appropriate allocation mix necessary to support the underlying plan liabilities as influenced significantly by the demographics of the participants and the frozen nature of the plan. | ||||||||||||||||||||||||||||
The goal of the Board of Trustees of the United Kingdom plan is the acquisition of secure assets of appropriate liquidity which are expected to generate income and capital growth to meet, together with new contributions from the Company, the cost of current and future benefits, as set out in the Trust Deed and Rules. The Trustees, together with the plan’s consultants and actuaries, further design the asset allocation shown above to limit the risk of the assets failing to meet the liabilities over the long term. Currently the equity allocation is diversified amongst both United Kingdom and non-United Kingdom equities from North America, Europe, Japan and Asia Pacific. A small portion is allocated to other global emerging market equity securities. Fixed income is allocated primarily to United Kingdom government bond securities with the remaining portion in investment-grade corporate bonds. | ||||||||||||||||||||||||||||
Fair value measurements. Financial instruments included in plan assets carried and measured at fair value on a recurring basis are classified in the table below according to the hierarchy described in Note 7 of these Consolidated Financial Statements: | ||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||||||||||||||
(in millions) | Quoted prices in | Significant other | Significant | Total | ||||||||||||||||||||||||
active markets | observable | unobservable | ||||||||||||||||||||||||||
for identical assets | inputs | inputs | ||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
Investments: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 0.6 | $ | — | $ | — | $ | 0.6 | ||||||||||||||||||||
Registered investment companies: | ||||||||||||||||||||||||||||
Cash management fund | 1.8 | — | — | 1.8 | ||||||||||||||||||||||||
Equity funds | 58.8 | — | — | 58.8 | ||||||||||||||||||||||||
Fixed income securities | — | 42.6 | — | 42.6 | ||||||||||||||||||||||||
Private investment funds—redeemable (a) | — | 698.6 | — | 698.6 | ||||||||||||||||||||||||
Private investment funds—non-redeemable | — | — | 0.1 | 0.1 | ||||||||||||||||||||||||
Insurance annuity contracts | — | — | 3.3 | 3.3 | ||||||||||||||||||||||||
Total investments at fair value | $ | 61.2 | $ | 741.2 | $ | 3.4 | $ | 805.8 | ||||||||||||||||||||
(a) 42% of portfolio is invested in equity index funds, 57% in fixed income investments and 1% in other investments. | ||||||||||||||||||||||||||||
As of December 31, 2011 | ||||||||||||||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||||||||||||||
(in millions) | Quoted prices in | Significant other | Significant | Total | ||||||||||||||||||||||||
active markets | observable | unobservable | ||||||||||||||||||||||||||
for identical assets | inputs | inputs | ||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
Investments: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 3.2 | $ | — | $ | — | $ | 3.2 | ||||||||||||||||||||
Registered investment companies: | ||||||||||||||||||||||||||||
Cash management fund | 1 | — | — | 1 | ||||||||||||||||||||||||
Equity funds | 49.1 | — | — | 49.1 | ||||||||||||||||||||||||
Fixed income funds | 14.2 | — | — | 14.2 | ||||||||||||||||||||||||
Fixed income securities | — | 35.1 | — | 35.1 | ||||||||||||||||||||||||
Private investment funds—redeemable (a) | — | 613.1 | — | 613.1 | ||||||||||||||||||||||||
Private investment funds—non- redeemable | — | — | 1 | 1 | ||||||||||||||||||||||||
Insurance annuity contracts | — | — | 4.4 | 4.4 | ||||||||||||||||||||||||
Total investments at fair value | $ | 67.5 | $ | 648.2 | $ | 5.4 | $ | 721.1 | ||||||||||||||||||||
(a) 46% of portfolio is invested in equity index funds and 54% in fixed income investments. | ||||||||||||||||||||||||||||
Fair Value Measurement Using Significant | ||||||||||||||||||||||||||||
Unobservable Inputs (Level 3) | ||||||||||||||||||||||||||||
(in millions) | Insurance | Private investment funds | ||||||||||||||||||||||||||
annuity contracts | non-redeemable | |||||||||||||||||||||||||||
Beginning balance as of January 1, 2011 | $ | 4.4 | $ | 0.3 | ||||||||||||||||||||||||
Transfer in from level 2 (a) | — | 1.4 | ||||||||||||||||||||||||||
Settlements | — | (0.7 | ) | |||||||||||||||||||||||||
Ending balance as of December 31, 2011 | 4.4 | 1 | ||||||||||||||||||||||||||
Actual return on plan assets | — | 0.1 | ||||||||||||||||||||||||||
Settlements | (1.1 | ) | (1.0 | ) | ||||||||||||||||||||||||
Ending balance as of December 31, 2012 | $ | 3.3 | $ | 0.1 | ||||||||||||||||||||||||
(a) The plans value transfers into Level 3 utilizing values as of the beginning of the period. | ||||||||||||||||||||||||||||
Registered investment companies. The Company’s domestic plan has investments in shares of mutual funds, primarily large cap, international and global equity funds, that are registered with the Securities and Exchange Commission. Prices of these funds are based on Net Asset Values (“NAV”) calculated by the funds and are publicly reported on national exchanges. The plan measures fair value of these investments using the NAV provided by the fund managers. | ||||||||||||||||||||||||||||
Fixed income securities. The Company’s domestic plan has investments in several fixed income securities, primarily corporate bonds. The bonds were valued under a market approach using observable inputs including reported trades, benchmark yields, broker/dealer quotes, issuer spreads and other standard inputs. | ||||||||||||||||||||||||||||
Private investment funds—redeemable. The Company’s domestic and United Kingdom plans are invested in shares or units of several private investment funds, not the underlying assets. Redeemable private investment funds include collective trusts, comingled funds, pooled funds, limited partnerships and limited liability corporations. The funds calculate NAV on a periodic basis and are available only from the fund managers. Private investment funds are redeemable at the NAV. | ||||||||||||||||||||||||||||
Private investment funds—non-redeemable. The Company’s domestic plan has investments in several partnerships (limited partnership and limited liability corporations) for which the plan has a limited ability to redeem or transfer its interests; therefore, there is an illiquid market in which the plan can exit these investments. As a result, the plan measures fair value of these investments using estimates of fair value which come from partner capital statements provided by the partnerships. | ||||||||||||||||||||||||||||
Insurance annuity contracts. The Company’s United Kingdom Plan is invested in several insurance annuity contracts. The value of these contracts is calculated by estimating future payments and discounting them to present value. As a result, there is no market for the Plan to exit these investments. | ||||||||||||||||||||||||||||
Contributions. Contributions to the plans in 2013 are expected to be approximately $42 million. | ||||||||||||||||||||||||||||
The estimated future benefit payments, which reflect expected future service, are expected to be as follows: | ||||||||||||||||||||||||||||
Year ended December 31, | Amount | |||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
2013 | $ | 26.4 | ||||||||||||||||||||||||||
2014 | 27.3 | |||||||||||||||||||||||||||
2015 | 29.3 | |||||||||||||||||||||||||||
2016 | 32.1 | |||||||||||||||||||||||||||
2017 | 33.6 | |||||||||||||||||||||||||||
2018-2022 | 199.6 | |||||||||||||||||||||||||||
The Company’s post-retirement health care and other insurance benefits for retired employees are limited and immaterial. | ||||||||||||||||||||||||||||
Segment_Information
Segment Information | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
Segment Information | ' | ' | ||||||||||||||||||||||||||||||||
Segment Information | ' | ' | ||||||||||||||||||||||||||||||||
Note 5: Segment Information | Note 15: Segment Information | |||||||||||||||||||||||||||||||||
For a detailed discussion of the Company’s principles regarding its operating segments refer to Note 15 of the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by a company’s chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. First Data’s CODM is its Chief Executive Officer. The Company is organized in three segments: Retail and Alliance Services, Financial Services and International. | |||||||||||||||||||||||||||||||||
The following tables present the Company’s operating segment results for the three and nine months ended September 30, 2013 and 2012: | The business segment measurements provided to and evaluated by the CODM are computed in accordance with the principles listed below. | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | · The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies. | |||||||||||||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | |||||||||||||||||||||||||||||
Alliance | Services | and | · Segment results exclude divested businesses. | |||||||||||||||||||||||||||||||
Services | Corporate | |||||||||||||||||||||||||||||||||
Revenues: | · Segment revenue includes equity earnings in affiliates (excluding amortization expense) and intersegment revenue. Retail and Alliance Services segment revenue does not include equity earnings because it is reported using proportionate consolidation as described below. | |||||||||||||||||||||||||||||||||
Transaction and processing service fees | $ | 819.8 | $ | 331.1 | $ | 331.4 | $ | 18.8 | $ | 1,501.10 | ||||||||||||||||||||||||
Product sales and other | 96.9 | 15.3 | 92.8 | 13.2 | 218.2 | · Segment revenue excludes reimbursable debit network fees, postage and other revenue. | ||||||||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 7.4 | — | 7.4 | |||||||||||||||||||||||||||||
Total segment reporting revenues | $ | 916.7 | $ | 346.4 | $ | 431.6 | $ | 32 | $ | 1,726.70 | · Segment earnings before net interest expense, income taxes, depreciation and amortization (“EBITDA”) includes equity earnings in affiliates and excludes depreciation and amortization expense, net income attributable to noncontrolling interests, other operating expenses and other income (expense). Retail and Alliance Services segment EBITDA does not include equity earnings because it is reported using proportionate consolidation as described below. Additionally, segment EBITDA is adjusted for items similar to certain of those used in calculating the Company’s compliance with debt covenants. The additional items that are adjusted to determine segment EBITDA are: | |||||||||||||||||||||||
Internal revenue | $ | 5.8 | $ | 9.1 | $ | 2.6 | $ | — | $ | 17.5 | ||||||||||||||||||||||||
External revenue | $ | 910.9 | $ | 337.3 | $ | 429 | $ | 32 | $ | 1,709.20 | · stock based compensation and related expense is excluded; | |||||||||||||||||||||||
Depreciation and amortization | $ | 114.1 | $ | 82.5 | $ | 65 | $ | 9.4 | $ | 271 | ||||||||||||||||||||||||
Segment EBITDA | $ | 410.3 | $ | 162.7 | $ | 126 | $ | (71.9 | ) | $ | 627.1 | · official check and money order businesses’ EBITDA are excluded; | ||||||||||||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | (16.8 | ) | $ | (3.5 | ) | $ | (7.3 | ) | $ | (18.7 | ) | $ | (46.3 | ) | |||||||||||||||||||
· expenses related to the reorganization of global application development resources (applicable to 2010 ), expenses associated with domestic data center consolidation initiatives and planned workforce reduction expenses (applicable to 2010 ), certain platform development and other costs directly associated with the termination of the Chase Paymentech Solutions alliance, and expenses related to the conversion of certain BAMS alliance merchant clients onto the Company’s platforms all of which are considered nonrecurring projects (excludes costs accrued in purchase accounting). Effective October 1, 2011, First Data and Bank of America N.A. (“the Bank”) jointly decided to have First Data operate the Bank’s legacy settlement platform. Transition costs associated with the revised strategy are also excluded from segment EBITDA. | ||||||||||||||||||||||||||||||||||
Three months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | · debt issuance costs are excluded and represent costs associated with issuing debt and modifying the Company’s debt structure; | ||||||||||||||||||||||||||||
Alliance | Services | and | ||||||||||||||||||||||||||||||||
Services | Corporate | · KKR related items include annual sponsor and other fees for management, consulting, financial and other advisory services. | ||||||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||||||||
Transaction and processing service fees | $ | 807.6 | $ | 334.5 | $ | 321.9 | $ | 19.3 | $ | 1,483.30 | · Retail and Alliance Services segment revenue and EBITDA are reflected based on the Company’s proportionate share of the results of its investments in businesses accounted for under the equity method and consolidated subsidiaries with noncontrolling ownership interests. In addition, Retail and Alliance Services segment measures reflect commission payments to certain ISO’s, which are treated as an expense in the Consolidated Statements of Operations, as contra revenue to be consistent with revenue share arrangements with other ISO’s that are recorded as contra revenue. | |||||||||||||||||||||||
Product sales and other | 102.6 | 12.6 | 95.8 | 9.1 | 220.1 | |||||||||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 9.3 | — | 9.3 | · Corporate operations include administrative and shared service functions such as the executive group, legal, tax, treasury, internal audit, accounting, human resources, information technology and procurement. Costs incurred by Corporate that are directly attributable to a segment are allocated to the respective segment. Administrative, shared service and certain information technology costs are retained by Corporate. | ||||||||||||||||||||||||||||
Total segment reporting revenues | $ | 910.2 | $ | 347.1 | $ | 427 | $ | 28.4 | $ | 1,712.70 | ||||||||||||||||||||||||
Internal revenue | $ | 5.4 | $ | 7.8 | $ | 2.3 | $ | — | $ | 15.5 | The following tables present the Company’s operating segment results for the years ended December 31, 2012, 2011 and 2010: | |||||||||||||||||||||||
External revenue | $ | 904.8 | $ | 339.3 | $ | 424.7 | $ | 28.4 | $ | 1,697.20 | ||||||||||||||||||||||||
Depreciation and amortization | $ | 125.5 | $ | 83.6 | $ | 69.9 | $ | 10.4 | $ | 289.4 | Year ended December 31, 2012 | |||||||||||||||||||||||
Segment EBITDA | $ | 409.4 | $ | 149.5 | $ | 119.5 | $ | (69.9 | ) | $ | 608.5 | (in millions) | Retail and | Financial | International | All Other and | Totals | |||||||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | (21.9 | ) | $ | — | $ | (5.4 | ) | $ | (31.9 | ) | $ | (59.2 | ) | Alliance | Services | Corporate | |||||||||||||||||
Services | ||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2013 | Revenues: | |||||||||||||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | Transaction and processing service fees | $ | 3,198.80 | $ | 1,350.00 | $ | 1,291.20 | $ | 85.2 | $ | 5,925.20 | ||||||||||||||||||
Alliance | Services | and | Product sales and other | 404 | 40.1 | 391 | 39.8 | 874.9 | ||||||||||||||||||||||||||
Services | Corporate | Equity earnings in affiliates (a) | — | — | 36.2 | — | 36.2 | |||||||||||||||||||||||||||
Revenues: | Total segment reporting revenues | $ | 3,602.80 | $ | 1,390.10 | $ | 1,718.40 | $ | 125 | $ | 6,836.30 | |||||||||||||||||||||||
Transaction and processing service fees | $ | 2,414.60 | $ | 979.5 | $ | 973 | $ | 57 | $ | 4,424.10 | Internal revenue | $ | 20.2 | $ | 31.5 | $ | 9.9 | $ | — | $ | 61.6 | |||||||||||||
Product sales and other | 291.7 | 34.7 | 269.5 | 33.5 | 629.4 | External revenue | 3,582.60 | 1,358.60 | 1,708.50 | 125 | 6,774.70 | |||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 22.6 | — | 22.6 | Depreciation and amortization | 520.1 | 337.2 | 282.9 | 45.1 | 1,185.30 | |||||||||||||||||||||||
Total segment reporting revenues | $ | 2,706.30 | $ | 1,014.20 | $ | 1,265.10 | $ | 90.5 | $ | 5,076.10 | Segment EBITDA | 1,594.80 | 603.1 | 483.8 | (246.0 | ) | 2,435.70 | |||||||||||||||||
Internal revenue | $ | 16.7 | $ | 25.5 | $ | 7.5 | $ | — | $ | 49.7 | Other operating expenses and other income (expense) excluding divestitures | (29.1 | ) | (5.1 | ) | (24.3 | ) | (64.0 | ) | (122.5 | ) | |||||||||||||
External revenue | $ | 2,689.60 | $ | 988.7 | $ | 1,257.60 | $ | 90.5 | $ | 5,026.40 | Expenditures for long-lived assets | 25.1 | 49.2 | 163.9 | 132.1 | 370.3 | ||||||||||||||||||
Depreciation and amortization | $ | 338.2 | $ | 245.7 | $ | 198.5 | $ | 34.7 | $ | 817.1 | Equity earnings in affiliates | 137.8 | — | 20.4 | — | 158.2 | ||||||||||||||||||
Segment EBITDA | $ | 1,193.80 | $ | 446.5 | $ | 341.6 | $ | (201.7 | ) | $ | 1,780.20 | Investment in unconsolidated affiliates | 1,219.60 | — | 193.5 | — | 1,413.10 | |||||||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | 10.8 | $ | (8.4 | ) | $ | 18.1 | $ | (89.7 | ) | $ | (69.2 | ) | |||||||||||||||||||||
Year ended December 31, 2011 | ||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2012 | (in millions) | Retail and | Financial | International | All Other and | Totals | ||||||||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | Alliance | Services | Corporate | ||||||||||||||||||||||||||
Alliance | Services | and | Services | |||||||||||||||||||||||||||||||
Services | Corporate | Revenues: | ||||||||||||||||||||||||||||||||
Revenues: | Transaction and processing service fees | $ | 2,974.50 | $ | 1,350.00 | $ | 1,337.90 | $ | 108.3 | $ | 5,770.70 | |||||||||||||||||||||||
Transaction and processing service fees | $ | 2,363.40 | $ | 1,011.40 | $ | 952.6 | $ | 66.3 | $ | 4,393.70 | Product sales and other | 407.5 | 29.5 | 388.8 | 32.9 | 858.7 | ||||||||||||||||||
Product sales and other | 308 | 30 | 276 | 30.8 | 644.8 | Equity earnings in affiliates (a) | — | — | 34.6 | — | 34.6 | |||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 27.9 | — | 27.9 | Total segment reporting revenues | $ | 3,382.00 | $ | 1,379.50 | $ | 1,761.30 | $ | 141.2 | $ | 6,664.00 | ||||||||||||||||||
Total segment reporting revenues | $ | 2,671.40 | $ | 1,041.40 | $ | 1,256.50 | $ | 97.1 | $ | 5,066.40 | Internal revenue | $ | 17.5 | $ | 37.8 | $ | 9.8 | $ | — | $ | 65.1 | |||||||||||||
Internal revenue | $ | 14.9 | $ | 23.4 | $ | 6.8 | $ | — | $ | 45.1 | External revenue | 3,364.50 | 1,341.70 | 1,751.50 | 141.2 | 6,598.90 | ||||||||||||||||||
External revenue | $ | 2,656.50 | $ | 1,018.00 | $ | 1,249.70 | $ | 97.1 | $ | 5,021.30 | Depreciation and amortization | 571.1 | 347.7 | 222.7 | 45.1 | 1,186.60 | ||||||||||||||||||
Depreciation and amortization | $ | 391.5 | $ | 255.5 | $ | 213.2 | $ | 33.5 | $ | 893.7 | Segment EBITDA | 1,407.50 | 593.5 | 454.3 | (206.8 | ) | 2,248.50 | |||||||||||||||||
Segment EBITDA | $ | 1,176.60 | $ | 457.2 | $ | 332.4 | $ | (186.0 | ) | $ | 1,780.20 | Other operating expenses and other income (expense) excluding divestitures | (0.4 | ) | (10.5 | ) | (12.1 | ) | 45.8 | 22.8 | ||||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | (28.8 | ) | $ | (5.1 | ) | $ | (25.7 | ) | $ | (52.4 | ) | $ | (112.0 | ) | Expenditures for long-lived assets | 33.4 | 60 | 168 | 143.4 | 404.8 | |||||||||||||
Equity earnings in affiliates | 118.5 | — | 34.9 | — | 153.4 | |||||||||||||||||||||||||||||
A reconciliation of reportable segment amounts to the Company’s consolidated balances is as follows: | Investment in unconsolidated affiliates | 1,288.90 | — | 201.7 | — | 1,490.60 | ||||||||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, 2010 | ||||||||||||||||||||||||||||||||
September 30, | September 30, | (in millions) | Retail and | Financial | International | All Other and | Totals | |||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Alliance | Services | Corporate | |||||||||||||||||||||||||||
Segment Revenues: | Services | |||||||||||||||||||||||||||||||||
Total reported segments | $ | 1,694.70 | $ | 1,684.30 | $ | 4,985.60 | $ | 4,969.30 | Revenues: | |||||||||||||||||||||||||
All Other and Corporate | 32 | 28.4 | 90.5 | 97.1 | Transaction and processing service fees | $ | 2,923.90 | $ | 1,362.20 | $ | 1,237.50 | $ | 126.8 | $ | 5,650.40 | |||||||||||||||||||
Adjustment to reconcile to Adjusted revenue: | Product sales and other | 390.9 | 46.8 | 353.9 | 23.9 | 815.5 | ||||||||||||||||||||||||||||
Official check and money order revenues (b) | (0.8 | ) | (2.3 | ) | (3.2 | ) | (11.9 | ) | Equity earnings in affiliates (a) | — | — | 29.4 | — | 29.4 | ||||||||||||||||||||
Eliminations of intersegment revenues | (17.5 | ) | (15.5 | ) | (49.7 | ) | (45.1 | ) | Total segment reporting revenues | $ | 3,314.80 | $ | 1,409.00 | $ | 1,620.80 | $ | 150.7 | $ | 6,495.30 | |||||||||||||||
Adjusted revenue | 1,708.40 | 1,694.90 | 5,023.20 | 5,009.40 | Internal revenue | $ | 18 | $ | 36 | $ | 8.4 | $ | — | $ | 62.4 | |||||||||||||||||||
Adjustments to reconcile to Consolidated revenues: | External revenue | 3,296.80 | 1,373.00 | 1,612.40 | 150.7 | 6,432.90 | ||||||||||||||||||||||||||||
Adjustments for non-wholly-owned entities (c) | 3 | 11.8 | 26.3 | 48.5 | Depreciation and amortization | 676.2 | 362.9 | 289.9 | 51.2 | 1,380.20 | ||||||||||||||||||||||||
Official check and money order revenues (b) | 0.8 | 2.3 | 3.2 | 11.9 | Segment EBITDA | 1,322.30 | 553 | 329.8 | (178.1 | ) | 2,027.00 | |||||||||||||||||||||||
ISO commission expense | 123.5 | 120.6 | 362.6 | 355.7 | Other operating expenses and other income (expense) excluding divestitures | (60.2 | ) | (8.5 | ) | (26.4 | ) | (21.0 | ) | (116.1 | ) | |||||||||||||||||||
Reimbursable debit network fees, postage and other | 876.4 | 844.4 | 2,596.50 | 2,498.00 | Expenditures for long-lived assets | 27.9 | 69.9 | 171.3 | 100.6 | 369.7 | ||||||||||||||||||||||||
Consolidated revenues | $ | 2,712.10 | $ | 2,674.00 | $ | 8,011.80 | $ | 7,923.50 | Equity earnings in affiliates | 104.8 | — | 12.5 | — | 117.3 | ||||||||||||||||||||
Segment EBITDA: | Investment in unconsolidated affiliates | 1,013.50 | — | 194.7 | — | 1,208.20 | ||||||||||||||||||||||||||||
Total reported segments | $ | 699 | $ | 678.4 | $ | 1,981.90 | $ | 1,966.20 | ||||||||||||||||||||||||||
All Other and Corporate | (71.9 | ) | (69.9 | ) | (201.7 | ) | (186.0 | ) | A reconciliation of reportable segment amounts to the Company’s consolidated balances is as follows: | |||||||||||||||||||||||||
Adjusted EBITDA | 627.1 | 608.5 | 1,780.20 | 1,780.20 | ||||||||||||||||||||||||||||||
Adjustments to reconcile to “Net loss attributable to First Data Corporation”: | Year ended December 31, | |||||||||||||||||||||||||||||||||
Adjustments for non-wholly-owned entities (c) | 0.5 | 4.1 | 3.2 | 3.8 | (in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
Depreciation and amortization | (271.3 | ) | (293.5 | ) | (818.2 | ) | (897.1 | ) | Segment Revenues: | |||||||||||||||||||||||||
Interest expense | (469.0 | ) | (488.6 | ) | (1,410.2 | ) | (1,430.4 | ) | Total reported segments | $ | 6,711.30 | $ | 6,522.80 | $ | 6,344.60 | |||||||||||||||||||
Interest income | 2.7 | 2.1 | 8 | 6.3 | All Other and Corporate | 125 | 141.2 | 150.7 | ||||||||||||||||||||||||||
Other items (d) | (49.8 | ) | (70.8 | ) | (86.4 | ) | (137.1 | ) | Adjustments to reconcile to Adjusted revenue: | |||||||||||||||||||||||||
Income tax (expense) benefit | (28.6 | ) | 69.4 | (101.7 | ) | 252.3 | Official check and money order revenues (b) | (12.7 | ) | (9.9 | ) | 8 | ||||||||||||||||||||||
Stock-based compensation | (5.5 | ) | (3.4 | ) | (36.1 | ) | (10.4 | ) | Eliminations of intersegment revenues | (61.6 | ) | (65.1 | ) | (62.4 | ) | |||||||||||||||||||
Official check and money order EBITDA (b) | 0.4 | 1.4 | 1.9 | 6.2 | Adjusted revenue | 6,762.00 | 6,589.00 | 6,440.90 | ||||||||||||||||||||||||||
Costs of alliance conversions | (17.8 | ) | (22.8 | ) | (59.1 | ) | (56.5 | ) | Adjustments to reconcile to Consolidated revenues: | |||||||||||||||||||||||||
KKR related items | (8.3 | ) | (8.4 | ) | (24.4 | ) | (25.2 | ) | Adjustments for non-wholly-owned entities (c) | 73.2 | 179.7 | 224.1 | ||||||||||||||||||||||
Debt issuance costs | 0.1 | (10.0 | ) | (3.2 | ) | (14.0 | ) | Official check and money order revenues | 12.7 | 9.9 | (8.0 | ) | ||||||||||||||||||||||
Net loss attributable to First Data Corporation | $ | (219.5 | ) | $ | (212.0 | ) | $ | (746.0 | ) | $ | (521.9 | ) | ISO commission expense | 470.9 | 403.5 | 333.8 | ||||||||||||||||||
Reimbursable debit network fees, postage and other | 3,361.50 | 3,531.50 | 3,389.60 | |||||||||||||||||||||||||||||||
(a) Excludes equity losses that were recorded in expense and the amortization related to the excess of the investment balance over the Company’s proportionate share of the investee’s net book value for the International segment. | Consolidated revenues | $ | 10,680.30 | $ | 10,713.60 | $ | 10,380.40 | |||||||||||||||||||||||||||
(b) Represents an adjustment to exclude the official check and money order businesses from revenue and EBITDA due to the Company’s wind down of these businesses. | Segment EBITDA: | |||||||||||||||||||||||||||||||||
(c) Represents the net adjustment to reflect First Data’s proportionate share of alliance revenue and EBITDA within the Retail and Alliance Services segment, equity earnings in affiliates included in International segment revenue and amortization related to equity method investments not included in segment EBITDA. | Total reported segments | $ | 2,681.70 | $ | 2,455.30 | $ | 2,205.10 | |||||||||||||||||||||||||||
(d) Includes restructuring, certain retention bonuses, litigation and regulatory settlements, and impairments as applicable to the periods presented and “Other income (expense)” as presented in the Consolidated Statements of Operations. | All Other and Corporate | (246.0 | ) | (206.8 | ) | (178.1 | ) | |||||||||||||||||||||||||||
Adjusted EBITDA | 2,435.70 | 2,248.50 | 2,027.00 | |||||||||||||||||||||||||||||||
Segment assets are as follows: | Adjustments to reconcile to Net loss attributable to First Data Corporation: | |||||||||||||||||||||||||||||||||
Divested businesses | — | — | 1.1 | |||||||||||||||||||||||||||||||
(in millions) | As of September 30, | As of December 31, | Adjustments for non-wholly-owned entities (c) | 6.8 | 59.5 | 34.3 | ||||||||||||||||||||||||||||
2013 | 2012 | Depreciation and amortization | (1,191.6 | ) | (1,245.0 | ) | (1,414.4 | ) | ||||||||||||||||||||||||||
Assets: | Interest expense | (1,897.8 | ) | (1,833.1 | ) | (1,796.6 | ) | |||||||||||||||||||||||||||
Retail and Alliance Services | $ | 25,607.60 | $ | 25,885.70 | Interest income | 8.8 | 7.9 | 7.8 | ||||||||||||||||||||||||||
Financial Services | 4,192.30 | 4,477.10 | Other items (d) | (156.9 | ) | 62.4 | (97.4 | ) | ||||||||||||||||||||||||||
International | 5,061.40 | 5,305.70 | Income tax benefit | 224 | 270.1 | 323.8 | ||||||||||||||||||||||||||||
All Other and Corporate | 1,982.40 | 2,230.50 | Stock based compensation | (11.8 | ) | (16.9 | ) | (16.1 | ) | |||||||||||||||||||||||||
Consolidated | $ | 36,843.70 | $ | 37,899.00 | Official check and money order EBITDA (b) | 6.4 | (0.5 | ) | (21.2 | ) | ||||||||||||||||||||||||
Costs of alliance conversions | (77.2 | ) | (28.4 | ) | (25.7 | ) | ||||||||||||||||||||||||||||
A reconciliation of reportable segment depreciation and amortization amounts to the Company’s consolidated balances in the Consolidated Statements of Cash Flows is as follows: | Stock plan modification expenses | — | — | (7.8 | ) | |||||||||||||||||||||||||||||
KKR related items | (33.6 | ) | (37.4 | ) | (28.5 | ) | ||||||||||||||||||||||||||||
Three months ended | Nine months ended | Debt issuance costs | (13.7 | ) | (3.2 | ) | (8.1 | ) | ||||||||||||||||||||||||||
September 30, | September 30, | Net loss attributable to First Data Corporation | $ | (700.9 | ) | $ | (516.1 | ) | $ | (1,021.8 | ) | |||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Depreciation and amortization: | ||||||||||||||||||||||||||||||||||
Total reported segments | $ | 261.6 | $ | 279 | $ | 782.4 | $ | 860.2 | (a) Excludes equity losses that were recorded in expense and the amortization related to the excess of the investment balance over the Company’s proportionate share of the investee’s net book value for the International segment. | |||||||||||||||||||||||||
All Other and Corporate | 9.4 | 10.4 | 34.7 | 33.5 | (b) Represents an adjustment to exclude the official check and money order businesses from revenue and EBITDA due to the Company’s wind down of these businesses. | |||||||||||||||||||||||||||||
271 | 289.4 | 817.1 | 893.7 | (c) Net adjustment to reflect First Data’s proportionate share of alliance revenue and EBITDA within the Retail and Alliance Services segment, equity earnings in affiliates included in International segment revenue and amortization related to equity method investments not included in segment EBITDA. | ||||||||||||||||||||||||||||||
Adjustments to reconcile to consolidated depreciation and amortization: | (d) Includes restructuring, litigation and regulatory settlements and impairments as applicable to the periods presented and “Other income (expense)” as presented in the Consolidated Statement of Operations. | |||||||||||||||||||||||||||||||||
Adjustments for non-wholly-owned entities | 20 | 25.5 | 60.3 | 76.7 | ||||||||||||||||||||||||||||||
Amortization of initial payments for new contracts | 10.4 | 12 | 30.7 | 33.7 | Segment assets are as follows: | |||||||||||||||||||||||||||||
Total consolidated depreciation and amortization | $ | 301.4 | $ | 326.9 | $ | 908.1 | $ | 1,004.10 | ||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||||
Retail and Alliance Services | $ | 25,885.70 | $ | 27,882.20 | ||||||||||||||||||||||||||||||
Financial Services | 4,477.10 | 4,647.80 | ||||||||||||||||||||||||||||||||
International | 5,305.70 | 5,332.90 | ||||||||||||||||||||||||||||||||
All Other and Corporate | 2,230.50 | 2,413.40 | ||||||||||||||||||||||||||||||||
Consolidated | $ | 37,899.00 | $ | 40,276.30 | ||||||||||||||||||||||||||||||
A reconciliation of reportable segment depreciation and amortization amounts to the Company’s consolidated balances in the Consolidated Statements of Cash Flows is as follows: | ||||||||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||||
Depreciation and Amortization: | ||||||||||||||||||||||||||||||||||
Total reported segments | $ | 1,140.20 | $ | 1,141.50 | $ | 1,329.00 | ||||||||||||||||||||||||||||
All Other and Corporate | 45.1 | 45.1 | 51.2 | |||||||||||||||||||||||||||||||
1,185.30 | 1,186.60 | 1,380.20 | ||||||||||||||||||||||||||||||||
Adjustments to reconcile to consolidated depreciation and amortization: | ||||||||||||||||||||||||||||||||||
Adjustments for non-wholly-owned entities | 101.1 | 115.1 | 107.2 | |||||||||||||||||||||||||||||||
Amortization of initial payments for new contracts | 44.5 | 42.5 | 38.6 | |||||||||||||||||||||||||||||||
Total consolidated depreciation and amortization | $ | 1,330.90 | $ | 1,344.20 | $ | 1,526.00 | ||||||||||||||||||||||||||||
Information concerning principal geographic areas was as follows: | ||||||||||||||||||||||||||||||||||
(in millions) | United | International | Total | |||||||||||||||||||||||||||||||
States | ||||||||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||||||||
2012 | $ | 9,046.00 | $ | 1,634.30 | $ | 10,680.30 | ||||||||||||||||||||||||||||
2011 | 9,026.30 | 1,687.30 | 10,713.60 | |||||||||||||||||||||||||||||||
2010 | 8,806.80 | 1,573.60 | 10,380.40 | |||||||||||||||||||||||||||||||
Long-Lived Assets | ||||||||||||||||||||||||||||||||||
2012 | $ | 20,594.90 | $ | 3,128.30 | $ | 23,723.20 | ||||||||||||||||||||||||||||
2011 | 21,154.60 | 3,290.50 | 24,445.10 | |||||||||||||||||||||||||||||||
2010 | 21,979.00 | 3,424.60 | 25,403.60 | |||||||||||||||||||||||||||||||
“International” represents businesses of significance, which have local currency as their functional currency regardless of the segments to which the associated revenues and long-lived assets applied. | ||||||||||||||||||||||||||||||||||
Quarterly_Financial_Results_Un
Quarterly Financial Results (Unaudited) | 12 Months Ended | |||||||||||||
Dec. 31, 2012 | ||||||||||||||
Quarterly Financial Results (Unaudited) | ' | |||||||||||||
Quarterly Financial Results (Unaudited) | ' | |||||||||||||
Note 16: Quarterly Financial Results (Unaudited) | ||||||||||||||
Summarized quarterly results for the two years ended December 31, 2012 and 2011, respectively, are as follows: | ||||||||||||||
2012 by Quarter: | ||||||||||||||
(in millions) | First | Second | Third | Fourth (a) | ||||||||||
Revenues | $ | 2,564.00 | $ | 2,685.50 | $ | 2,674.00 | $ | 2,756.80 | ||||||
Expenses | 2,347.00 | 2,417.60 | 2,422.10 | 2,419.80 | ||||||||||
Operating profit | 217 | 267.9 | 251.9 | 337 | ||||||||||
Interest income | 2.5 | 1.7 | 2.1 | 2.5 | ||||||||||
Interest expense | (461.1 | ) | (480.7 | ) | (488.6 | ) | (467.4 | ) | ||||||
Other income (expense) | (8.2 | ) | (22.6 | ) | (52.0 | ) | (11.5 | ) | ||||||
Loss before income taxes and equity earnings in affiliates | (249.8 | ) | (233.7 | ) | (286.6 | ) | (139.4 | ) | ||||||
Income tax (benefit) expense | (108.2 | ) | (74.7 | ) | (69.4 | ) | 28.3 | |||||||
Equity earnings in affiliates | 27.5 | 44 | 43 | 43.7 | ||||||||||
Net loss | (114.1 | ) | (115.0 | ) | (174.2 | ) | (124.0 | ) | ||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interests | 38.4 | 42.4 | 37.8 | 55 | ||||||||||
Net loss attributable to First Data Corporation | $ | (152.5 | ) | $ | (157.4 | ) | $ | (212.0 | ) | $ | (179.0 | ) | ||
2011 by Quarter: | ||||||||||||||
(in millions) | First | Second | Third (b) | Fourth (c) | ||||||||||
Revenues | $ | 2,544.20 | $ | 2,749.80 | $ | 2,731.80 | $ | 2,687.80 | ||||||
Expenses | 2,437.70 | 2,537.80 | 2,438.60 | 2,358.00 | ||||||||||
Operating profit | 106.5 | 212 | 293.2 | 329.8 | ||||||||||
Interest income | 1.9 | 1.9 | 1.6 | 2.5 | ||||||||||
Interest expense | (442.3 | ) | (462.3 | ) | (466.7 | ) | (461.8 | ) | ||||||
Other income (expense) | (26.3 | ) | (1.4 | ) | 95.4 | 56.4 | ||||||||
Loss before income taxes and equity earnings in affiliates | (360.2 | ) | (249.8 | ) | (76.5 | ) | (73.1 | ) | ||||||
Income tax benefit | (148.0 | ) | (88.1 | ) | (18.9 | ) | (15.1 | ) | ||||||
Equity earnings in affiliates | 27.7 | 33.5 | 47.8 | 44.4 | ||||||||||
Net loss | (184.5 | ) | (128.2 | ) | (9.8 | ) | (13.6 | ) | ||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interests | 32.6 | 47.6 | 44.1 | 55.7 | ||||||||||
Net loss attributable to First Data Corporation | $ | (217.1 | ) | $ | (175.8 | ) | $ | (53.9 | ) | $ | (69.3 | ) | ||
(a) In the fourth quarter of 2012, the Company recorded a valuation allowance on state net operating losses of $47.8 million in “Income tax (benefit) expense”. Refer to Note 17 of these Consolidated Financial Statements for additional information. | ||||||||||||||
(b) In the third quarter of 2011, the Company recorded a net $55.4 million pretax ($31.5 million after tax) benefit in the Consolidated Statement of Operations to correct cumulative depreciation and amortization errors related to purchase accounting associated with the Company’s 2007 merger with an affiliate of Kohlberg Kravis Roberts & Co. The corrections impacted amortization of initial payments for new contracts within “Revenues” ($1.6 million contra-revenue), “Expenses” ($44.3 million benefit) and amortization of equity method investments within “Equity earnings in affiliates” ($12.7 million benefit). The errors and the cumulative correction, which totaled $55.4 million in aggregate and occurred over a four year period, were deemed immaterial to prior years and the current year, respectively. Additional immaterial related amounts were recorded in the fourth quarter. | ||||||||||||||
(c) In the fourth quarter of 2011, the Company contributed the assets of its transportation business to an alliance in exchange for a 30% noncontrolling interest in the alliance. The Company recognized a pretax gain of $59.1 million within “Other income (expense)” as a result of this transaction. Refer to Note 18 of these Consolidated Financial Statements for additional information. | ||||||||||||||
Income_Taxes
Income Taxes | 9 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||
Income Taxes | ' | ' | ||||||||||
Income Taxes | ' | ' | ||||||||||
Note 13: Income Taxes | Note 17: Income Taxes | |||||||||||
The Company’s effective tax rates on pretax loss were expenses of 18.9% and 19.5% for the three and nine months ended September 30, 2013 and benefits of 28.5% and 38.5% for the same periods in 2012. The effective tax rates for the three and nine months ended September 30, 2013 were lower than the statutory rate primarily due to valuation allowances being recorded in certain tax jurisdictions, where deferred tax benefits are not recognized on pretax losses, while tax expense is recognized in jurisdictions with pretax earnings. Also negatively impacting the rate was an increase in the Company’s liability for unrecognized tax benefits. These negative adjustments were partially offset by state tax benefits, net income attributable to noncontrolling interests from pass-through entities for which there was no tax expense provided, certain immaterial prior period adjustments and foreign income taxed at lower effective rates. As a result of the Company’s pretax losses in each of the periods, favorable and unfavorable tax impacts have the opposite effect on the effective tax rate. | Year ended December 31, | |||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||
The effective tax rates for the three and nine months ended September 30, 2012 were each favorably impacted by state tax benefits, net income attributable to noncontrolling interests for which there was no tax expense provided and foreign income taxed at lower effective rates, and unfavorably impacted by increases in the Company’s valuation allowance against foreign tax credits. In addition to the above factors, the three-month period was unfavorably impacted by certain immaterial prior period adjustments, while the nine-month period was favorably impacted by a decrease in the Company’s liability for unrecognized tax benefits. | Components of pretax (loss) income: | |||||||||||
Domestic | $ | (875.5 | ) | $ | (898.9 | ) | $ | (1,289.1 | ) | |||
The Company projects that its deferred tax assets will exceed its deferred tax liabilities as of December 31, 2013. As a result, the Company determined that it is not more likely than not that it would be able to realize the value of its federal and combined state net operating loss carryforwards and has recorded a valuation allowance against a portion of these carryforwards. This valuation allowance is expected to increase over time as the Company’s deferred tax liabilities continue to decrease and will have a continuing adverse impact on the Company’s effective tax rate in the future. | Foreign | 124.2 | 292.7 | 118.4 | ||||||||
$ | (751.3 | ) | $ | (606.2 | ) | $ | (1,170.7 | ) | ||||
The balance of the Company’s liability for unrecognized tax benefits was approximately $288 million as of September 30, 2013. The Company anticipates it is reasonably possible that its liability for unrecognized tax benefits may decrease by approximately $138 million within the next twelve months as the result of the possible closure of federal tax audits, potential settlements with certain states and foreign countries and the lapse of the statute of limitations in various state and foreign jurisdictions. | (Benefit) provision for income taxes: | |||||||||||
Federal | $ | (301.4 | ) | $ | (282.6 | ) | $ | (313.9 | ) | |||
State and local | 66 | (27.9 | ) | (39.3 | ) | |||||||
Foreign | 11.4 | 40.4 | 29.4 | |||||||||
$ | (224.0 | ) | $ | (270.1 | ) | $ | (323.8 | ) | ||||
Effective Income Tax Rate | 29.8 | % | 44.6 | % | 27.7 | % | ||||||
The Company’s effective tax rates differ from statutory rates as follows: | ||||||||||||
Year ended December 31, | ||||||||||||
2012 | 2011 | 2010 | ||||||||||
Federal statutory rate | 35 | % | 35 | % | 35 | % | ||||||
State income taxes, net of federal income tax benefit | 1.1 | 1.5 | 2 | |||||||||
Nontaxable income from noncontrolling interests | 7.9 | 10.2 | 5.2 | |||||||||
Impact of foreign operations (a) (c) | 1.5 | 3.9 | 1.5 | |||||||||
Valuation allowances (c) | (20.2 | ) | (12.7 | ) | (15.1 | ) | ||||||
Liability for unrecognized tax benefits (c) | 4.1 | 3.3 | 2.1 | |||||||||
Impact of contribution to alliance (b) | 0 | (2.2 | ) | 0 | ||||||||
Prior year adjustments (c) | 2 | 2.5 | (1.2 | ) | ||||||||
Other | (1.6 | ) | 3.1 | (1.8 | ) | |||||||
Effective tax rate | 29.8 | % | 44.6 | % | 27.7 | % | ||||||
(a) The impact of foreign operations includes the effects of tax earnings and profits adjustments, foreign losses and differences between foreign tax expense and foreign taxes eligible for the U.S. foreign tax credit. | ||||||||||||
(b) The impact of contribution to alliance represents the tax effects resulting from the gain on the contribution of the Company’s transportation business in exchange for a 30% interest in an alliance. | ||||||||||||
(c) The 2012 effective tax rate was negatively impacted by a total of approximately 9% as a result of the current year cumulative correction of immaterial prior year errors. The cumulative corrections had an impact on each of the following line items above: Impact of foreign operations, Valuation allowances, Liability for unrecognized tax benefits and Prior year adjustments. | ||||||||||||
The Company’s income tax (benefits) provisions consisted of the following components: | ||||||||||||
Year ended December 31, | ||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||
Current | ||||||||||||
Federal | $ | (60.0 | ) | $ | (54.0 | ) | $ | (27.7 | ) | |||
State and local | 16 | 25.8 | 18.3 | |||||||||
Foreign | 38.6 | 61.8 | 57.7 | |||||||||
(5.4 | ) | 33.6 | 48.3 | |||||||||
Deferred | ||||||||||||
Federal | (241.4 | ) | (228.6 | ) | (286.2 | ) | ||||||
State and local | 50 | (53.7 | ) | (57.6 | ) | |||||||
Foreign | (27.2 | ) | (21.4 | ) | (28.3 | ) | ||||||
(218.6 | ) | (303.7 | ) | (372.1 | ) | |||||||
$ | (224.0 | ) | $ | (270.1 | ) | $ | (323.8 | ) | ||||
Income tax payments, net of refunds received, of $70.1 million, $67.2 million and $100.5 million in 2012, 2011 and 2010, respectively, were greater than current expense primarily as a result of the decreased liability for unrecognized tax benefits reducing current expense. | ||||||||||||
Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the book and tax bases of the Company’s assets and liabilities. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Deferred tax assets are included in both “Other current assets” and “Other long-term assets” in the Company’s Consolidated Balance Sheets. Deferred tax liabilities are included in “Deferred long-term tax liabilities” in the Company’s Consolidated Balance Sheets. The following table outlines the principal components of deferred tax items: | ||||||||||||
As of December 31, | ||||||||||||
(in millions) | 2012 | 2011(a) | ||||||||||
Deferred tax assets related to: | ||||||||||||
Reserves and other accrued expenses | $ | 543.5 | $ | 450.3 | ||||||||
Pension obligations | 47.9 | 44.2 | ||||||||||
Employee related liabilities | 75.7 | 64 | ||||||||||
Deferred revenues | 30 | 26.7 | ||||||||||
Unrealized securities and hedging (gain)/loss | — | 42.2 | ||||||||||
Net operating losses and tax credit carryforwards | 1,383.60 | 1,336.50 | ||||||||||
U.S. foreign tax credits on undistributed earnings | 234.8 | 203.2 | ||||||||||
Foreign exchange (gain)/loss | 48.5 | 61.5 | ||||||||||
Total deferred tax assets | 2,364.00 | 2,228.60 | ||||||||||
Valuation allowance | (896.5 | ) | (744.6 | ) | ||||||||
Realizable deferred tax assets | 1,467.50 | 1,484.00 | ||||||||||
Deferred tax liabilities related to: | ||||||||||||
Property, equipment and intangibles | (1,206.0 | ) | (1,382.0 | ) | ||||||||
Investment in affiliates and other | (512.3 | ) | (532.7 | ) | ||||||||
Unrealized securities and hedging (gain)/loss | (0.6 | ) | — | |||||||||
U.S. tax on foreign undistributed earnings | (173.8 | ) | (145.9 | ) | ||||||||
Total deferred tax liabilities | (1,892.7 | ) | (2,060.6 | ) | ||||||||
Net deferred tax liabilities | $ | (425.2 | ) | $ | (576.6 | ) | ||||||
(a) Certain amounts have been reclassified to conform to current year presentation. | ||||||||||||
The Company’s deferred tax assets and liabilities were included in the Consolidated Balance Sheets as follows: | ||||||||||||
As of December 31, | ||||||||||||
(in millions) | 2012 | 2011 | ||||||||||
Current deferred tax assets | $ | 73.9 | $ | 108.3 | ||||||||
Long-term deferred tax assets | 10.4 | 10.5 | ||||||||||
Long-term deferred tax liabilities | (509.5 | ) | (695.4 | ) | ||||||||
Net deferred tax liabilities | $ | (425.2 | ) | $ | (576.6 | ) | ||||||
As of December 31, 2012 and 2011, the Company had recorded valuation allowances of $896.5 million and $744.6 million, respectively, against federal, state and foreign net operating and capital losses, foreign tax credits and impairments. The increase to the valuation allowance of $151.9 million in 2012 was primarily due to current year foreign and state net operating losses which may not be utilized within the statute of limitations and foreign tax credits for which it is likely that no benefit will be realized in the future. In determining the necessary amount of valuation allowance, the Company has considered a tax planning strategy related to its investments in affiliates. Implementation of this strategy would result in the immediate reversal of temporary differences associated with the excess of book basis over tax basis in the investments. | ||||||||||||
The following table presents the approximate amounts of federal, state and foreign net operating loss carryforwards and foreign tax credit, general business credit and minimum tax credit carryforwards: | ||||||||||||
As of December 31, | ||||||||||||
(in millions) | 2012 | |||||||||||
Federal net operating loss carryforwards (a) | $ | 1,766.10 | ||||||||||
State net operating loss carryforwards (b) | 2,759.20 | |||||||||||
Foreign net operating loss carryforwards (c) | 2,450.00 | |||||||||||
Foreign tax credit carryforwards (d) | 144.1 | |||||||||||
General business credit carryforwards (e) | 11.1 | |||||||||||
Minimum tax credit carryforwards (f) | 1.6 | |||||||||||
(a) If not utilized, these carryforwards will expire in years 2015 through 2032. | ||||||||||||
(b) If not utilized, these carryforwards will expire in years 2013 through 2032. | ||||||||||||
(c) Foreign net operating loss carryforwards of $137 million, if not utilized, will expire in years 2013 through 2027. The remaining foreign net operating loss carryforwards of $2,313 million have an indefinite life. | ||||||||||||
(d) If not utilized, these carryforwards will expire in years 2018 through 2022. | ||||||||||||
(e) If not utilized, these carryforwards will expire in years 2027 through 2031. | ||||||||||||
(f) These carryforwards have an indefinite life. | ||||||||||||
The Company intends to indefinitely invest its net equity in its foreign operations, with the exception of any undistributed foreign earnings. Accordingly, as of December 31, 2012, no provision had been made for U.S. federal and state income taxes on the cumulative amount of temporary differences related to investments in foreign subsidiaries, other than those differences related to the undistributed earnings. Upon sale or liquidation of these investments, the Company would potentially be subject to U.S., state and foreign income taxes and withholding taxes payable to the various foreign countries. Determination of the amount of unrecognized deferred tax liability is not practicable because of the complexities associated with its hypothetical calculation. | ||||||||||||
A reconciliation of the unrecognized tax benefits for the year ended December 31, 2010, 2011 and 2012 is as follows: | ||||||||||||
(in millions) | Unrecognized Tax Benefits | |||||||||||
Balance as of January 1, 2010 | $ | 415 | ||||||||||
Increases for tax positions of prior years | 0.5 | |||||||||||
Decreases for tax positions of prior years | (45.4 | ) | ||||||||||
Increases for tax positions related to the current period | 1.9 | |||||||||||
Decreases for cash settlements with taxing authorities | (1.4 | ) | ||||||||||
Decreases due to the lapse of the applicable statute of limitations | (2.0 | ) | ||||||||||
Balance as of December 31, 2010 | $ | 368.6 | ||||||||||
Increases for tax positions of prior years | 1.3 | |||||||||||
Decreases for tax positions of prior years | (28.5 | ) | ||||||||||
Increases for tax positions related to the current period | 1.7 | |||||||||||
Decreases for cash settlements with taxing authorities | (1.0 | ) | ||||||||||
Decreases due to the lapse of the applicable statute of limitations | (7.4 | ) | ||||||||||
Balance as of December 31, 2011 | $ | 334.7 | ||||||||||
Increases for tax positions of prior years | 5.5 | |||||||||||
Decreases for tax positions of prior years | (57.7 | ) | ||||||||||
Increases for tax positions related to the current period | 6.2 | |||||||||||
Decreases for cash settlements with taxing authorities | (0.1 | ) | ||||||||||
Decreases due to the lapse of the applicable statute of limitations | (2.4 | ) | ||||||||||
Balance as of December 31, 2012 | $ | 286.2 | ||||||||||
Most of the unrecognized tax benefits are included in the “Other long-term liabilities” line of the Consolidated Balance Sheets, net of the federal benefit on state income taxes (approximately $21 million at December 31, 2012). However, those unrecognized tax benefits that affect the federal consolidated tax years ending December 31, 2008 through December 31, 2012 are included in the “Long-term deferred tax liabilities” line of the Consolidated Balance Sheets,” as these items reduce the Company’s net operating loss and credit carryforwards from those periods. The unrecognized tax benefits as of December 31, 2012, 2011, and 2010 included approximately $163 million, $172 million, and $195 million, respectively, of tax positions that, if recognized, would affect the effective tax rate. | ||||||||||||
During the year ended December 31, 2012, the Company’s liability for unrecognized tax benefits was reduced by $52 million upon closure of the 2003 and 2004 federal tax years and the resolution of certain state audit issues. The reduction in liabilities was recorded through a decrease to tax expense and an increase to deferred tax liabilities. | ||||||||||||
During the year ended December 31, 2011, the Company’s liability for unrecognized tax benefits was reduced by $25 million after negotiating settlements with the Internal Revenue Service (“IRS”) regarding specific contested issues in the 2003 through 2006 federal tax years. The reduction in liabilities was recorded through a decrease to tax expense. | ||||||||||||
During the year ended December 31, 2010, the Company’s liability for unrecognized tax benefits was reduced by $39 million upon the closure of the 2002 federal tax year and after negotiating settlements with the IRS regarding specific contested issues in the 2003 and 2004 federal tax years. The reduction in the liability was recorded through a decrease to tax expense and an increase to deferred tax liabilities. | ||||||||||||
The Company recognizes interest and penalties related to unrecognized tax benefits in the “Income tax (benefit) expense” line item of the Consolidated Statements of Operations. Cumulative accrued interest and penalties (net of related tax benefits) are not included in the ending balances of unrecognized tax benefits. Cumulative accrued interest and penalties are included in the “Other long-term liabilities” line of the Consolidated Balance Sheets while the related tax benefits are included in the “Long-term deferred tax liabilities” line of the Consolidated Balance Sheets. The following table presents the approximate amounts associated with accrued interest expense and the cumulative accrued interest and penalties: | ||||||||||||
Year ended December 31, | ||||||||||||
2012 | 2011 | 2010 | ||||||||||
Current year accrued interest expense (net of related tax benefits) | $ | 4 | $ | 9 | $ | 14 | ||||||
Cumulative accrued interest and penalties (net of related tax benefits) | $ | 47 | $ | 69 | $ | 67 | ||||||
As of December 31, 2012, the Company anticipates it is reasonably possible that its liability for unrecognized tax benefits may decrease by approximately $126 million within the next twelve months as the result of the possible closure of its 2005 through 2007 federal tax years, potential settlements with certain states and foreign countries and the lapse of the statute of limitations in various state and foreign jurisdictions. The potential decrease relates to various federal, state and foreign tax benefits including research and experimentation credits, transfer pricing adjustments and certain amortization and loss deductions. | ||||||||||||
The Company or one or more of its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. As of December 31, 2012, the Company was no longer subject to income tax examination by the U.S. federal jurisdiction for years before 2005. State and local examinations are substantially complete through 2002. Foreign jurisdictions generally remain subject to examination by their respective authorities from 2005 forward, none of which are considered major jurisdictions. | ||||||||||||
Under the Tax Allocation Agreement executed at the time of the spin-off of The Western Union Company (“Western Union”) on September 29, 2006, Western Union is responsible for and must indemnify the Company against all taxes, interest and penalties that relate to Western Union for periods prior to the spin-off date. If Western Union were to agree to or be finally determined to owe any amounts for such periods but were to default in its indemnification obligation under the Tax Allocation Agreement, the Company as parent of the tax group during such periods generally would be required to pay the amounts to the relevant tax authority, resulting in a potentially material adverse effect on the Company’s financial position and results of operations. As of December 31, 2012, the Company had approximately $110 million of income taxes payable, including approximately $4 million of uncertain income tax liabilities, recorded related to Western Union for periods prior to the spin-off date. The Company has recorded a corresponding account receivable of equal amount from Western Union, which is included as a long-term account receivable in the “Other long-term assets” line of the Company’s Consolidated Balance Sheets, reflecting the indemnification obligation. During the year ended December 31, 2012, the uncertain income tax liabilities related to Western Union decreased by approximately $14 million as a result of the closure of the 2003-2004 federal tax years. As of December 31, 2012, the Company anticipates it is reasonably possible that the uncertain tax liabilities related to Western Union may decrease by approximately $4 million within the next twelve months as the result of the possible closure of its 2005 and 2006 federal tax years. The uncertain income tax liabilities and corresponding receivable are based on information provided by Western Union regarding its tax contingency reserves for periods prior to the spin-off date. There is no assurance that a Western Union-related issue raised by the IRS or other tax authority will be finally resolved at a cost not in excess of the amount reserved and reflected in the Company’s uncertain income tax liabilities and corresponding receivable from Western Union. The Western Union contingent liability is in addition to the Company’s liability for unrecognized tax benefits discussed above. | ||||||||||||
The IRS completed its examination of the U.S. federal consolidated income tax returns of the Company for 2005-2007 and issued a 30-Day letter on October 31, 2012. The 30-Day letter claims that the Company and its subsidiaries, which included Western Union during some of the years at issue, owe additional taxes with respect to a variety of adjustments. The Company and Western Union agree with several of the adjustments in the 30-Day letter, such adjustments representing tax due of approximately $40 million. This undisputed tax and associated interest due (pretax) of approximately $16 million through December 31, 2012, have been fully reserved. The undisputed tax for which Western Union would be required to indemnify the Company is greater than the total tax due, such that settlement of the undisputed tax would result in a net refund to the Company. As to the adjustments that are disputed, such issues represent total taxes allegedly due of approximately $59 million, of which $40 million relates to the Company and $19 million relates to Western Union. The Company estimates that total interest due (pretax) on the disputed amounts is approximately $16 million through December 31, 2012, of which $9 million relates to the Company and $7 million relates to Western Union. As to the disputed issues, the Company and Western Union have contested the adjustments by filing a protest with the IRS. The IRS has prepared a rebuttal to the protest and has forwarded the case to Appeals. The Company believes that it has adequately reserved for the disputed issues in its liability for unrecognized tax benefits described above and that final resolution of those issues will not have a material adverse effect on its financial position or results of operations. |
Investment_in_Affiliates
Investment in Affiliates | 12 Months Ended | ||||||||||
Dec. 31, 2012 | |||||||||||
Investment in Affiliates | ' | ||||||||||
Investment in Affiliates | ' | ||||||||||
Note 18: Investment in Affiliates | |||||||||||
Operating results include the Company’s proportionate share of income from affiliates, which consist of unconsolidated investments accounted for under the equity method of accounting. The most significant of these affiliates are related to the Company’s merchant bank alliance program. | |||||||||||
A merchant alliance, as it pertains to investments accounted for under the equity method, is an agreement between FDC and a financial institution that combines the processing capabilities and management expertise of the Company with the visibility and distribution channel of the bank. The alliance acquires credit and debit card transactions from merchants. The Company provides processing and other services to the alliance and charges fees to the alliance primarily based on contractual pricing. These fees have been separately identified on the face of the Consolidated Statements of Operations. | |||||||||||
In November 2011, the Company formed an alliance, TCH LLC, by contributing the assets of its transportation business (a controlling interest in a business) to the alliance in exchange for a noncontrolling 30% interest in TCH, LLC. The alliance is accounted for as an equity method investment by the Company. The Company recognized a pretax gain of $59.1 million in the “Other income (expense)” line item of the Consolidated Statement of Operations upon deconsolidation of the Company’s assets associated with its transportation business and contribution of those assets to the alliance. | |||||||||||
In the fourth quarter of 2011, the Company funded $160.0 million to one of its merchant alliance partners for referrals from bank branches contributed to the alliance as called for by the agreement that extended the term of the alliance in 2008. | |||||||||||
At December 31, 2012, there were ten affiliates accounted for under the equity method of accounting, comprised of five merchant alliances and five strategic investments in companies in related markets. | |||||||||||
A summary of unaudited financial information for the merchant alliances and other affiliates accounted for under the equity method of accounting is presented below. | |||||||||||
As of December 31, | |||||||||||
(in millions) | 2012 | 2011 | |||||||||
Total assets | $ | 2,834.80 | $ | 2,820.30 | |||||||
Total liabilities | 2,467.90 | 2,514.70 | |||||||||
The primary components of assets and liabilities are settlement-related accounts similar to those described in Note 4 of these Consolidated Financial Statements. | |||||||||||
Year ended December 31, | |||||||||||
(in millions) | 2012 | 2011 | 2010 | ||||||||
Net operating revenues | $ | 1,278.40 | $ | 1,114.40 | $ | 999.1 | |||||
Operating expenses | 630.2 | 577.4 | 520.6 | ||||||||
Operating income | $ | 648.2 | $ | 537 | $ | 478.5 | |||||
Net income | $ | 639.4 | $ | 509.8 | $ | 455.6 | |||||
FDC equity earnings | $ | 158.2 | $ | 153.4 | $ | 117.3 | |||||
The formation of a merchant alliance accounted for under the equity method of accounting generally involves the Company and/or a financial institution contributing merchant contracts to the alliance and a cash payment from one owner to the other to achieve the desired ownership percentages. The asset amounts reflected above are owned by the alliances and other equity method investees and do not include any of such payments made by the Company. The amount by which the total of the Company’s investments in affiliates exceeded its proportionate share of the investees’ net assets was approximately $1.3 billion and $1.4 billion at December 31, 2012 and 2011, respectively. | |||||||||||
The non-goodwill portion of this amount is considered an identifiable intangible asset that is amortized. The estimated future amortization expense for these intangible assets as of December 31, 2012 is as follows: | |||||||||||
Year ended December 31, | Amount | ||||||||||
(in millions) | |||||||||||
2013 | $ | 78.4 | |||||||||
2014 | 62.2 | ||||||||||
2015 | 57.1 | ||||||||||
2016 | 52.3 | ||||||||||
2017 | 49.1 | ||||||||||
Thereafter | 48.2 | ||||||||||
These amounts assume that these alliances continue as they currently exist. Much of the difference between FDC’s proportionate share of the investees’ net income and FDC’s equity earnings noted above relates to this amortization. | |||||||||||
Supplemental_Guarantor_Condens
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 | |||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Change in cash and cash equivalents | (1.9 | ) | 16 | (37.9 | ) | — | (23.8 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 164.1 | 21.1 | 324.3 | — | 509.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 162.2 | $ | 37.1 | $ | 286.4 | $ | — | $ | 485.7 | ||||||||||||||||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | (1,506.3 | ) | 1,306.50 | 957.5 | (3.0 | ) | 754.7 | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 223.7 | 91.4 | (96.1 | ) | (548.2 | ) | (329.2 | ) | ||||||||||||||||||||||||||||||||||||||||||||
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 | ) | — | — | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Change in cash and cash equivalents | 59.5 | (4.3 | ) | (282.7 | ) | — | (227.5 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 104.6 | 25.4 | 607 | — | 737 | |||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 164.1 | $ | 21.1 | $ | 324.3 | $ | — | $ | 509.5 | ||||||||||||||||||||||||||||||||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
Summary of Significant Accounting Policies | ' | ' | ||||||||||||||||||||||||||||||||
Consolidation | ' | ' | ||||||||||||||||||||||||||||||||
Consolidation | ||||||||||||||||||||||||||||||||||
The accompanying Consolidated Financial Statements of FDC include the accounts of FDC and its controlled subsidiaries. All significant intercompany accounts and transactions have been eliminated. Investments in unconsolidated affiliated companies are accounted for under the equity method and are included in “Investment in affiliates” in the accompanying Consolidated Balance Sheets. The Company generally utilizes the equity method of accounting when it has an ownership interest of between 20% and 50% in an entity, provided the Company is able to exercise significant influence over the investee’s operations. | ||||||||||||||||||||||||||||||||||
The Company consolidates an entity’s financial statements when the Company either will absorb a majority of the entity’s expected losses or residual returns, in the case of a variable interest entity, or has the ability to exert control over a subsidiary. Control is normally established when ownership interests exceed 50% in an entity; however, when the Company does not exercise control over a majority-owned entity as a result of other investors having rights over the management and operations of the entity, the Company accounts for the entity under the equity method. As of December 31, 2012 and 2011, there were no greater-than-50%-owned affiliates whose financial statements were not consolidated. | ||||||||||||||||||||||||||||||||||
Use of Estimates | ' | ' | ||||||||||||||||||||||||||||||||
Use of Estimates | Use of Estimates | |||||||||||||||||||||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results could differ from these estimates. | The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates. | |||||||||||||||||||||||||||||||||
Presentation | ' | ' | ||||||||||||||||||||||||||||||||
Presentation | Presentation | |||||||||||||||||||||||||||||||||
Depreciation and amortization presented as a separate line item on the Company’s Consolidated Statements of Operations does not include amortization of initial payments for new contracts which is recorded as a contra-revenue within “Transaction and processing service fees.” Also not included is amortization related to equity method investments which is netted within the “Equity earnings in affiliates” line. The following table presents the amounts associated with such amortization: | Depreciation and amortization presented as a separate line item on the Company’s Consolidated Statements of Operations does not include amortization of initial payments for new contracts which is recorded as a contra-revenue within “Transaction and processing service fees.” Also not included is amortization related to equity method investments which is netted within the “Equity earnings in affiliates” line. The following table presents the amounts associated with such amortization: | |||||||||||||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | ||||||||||||||||||||||||||||||||
September 30, | September 30, | (in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Amortization of initial payments for new contracts | $ | 44.5 | $ | 42.5 | $ | 38.6 | |||||||||||||||||||||||
Amortization of initial payments for new contracts | $ | 10.4 | $ | 12 | $ | 30.7 | $ | 33.7 | Amortization related to equity method investments | $ | 94.8 | $ | 56.7 | $ | 73 | |||||||||||||||||||
Amortization related to equity method investments | $ | 19.7 | $ | 21.4 | $ | 59.2 | $ | 73.3 | ||||||||||||||||||||||||||
In 2011, the Company recorded a net $58.5 million pretax ($35.2 million after tax) benefit in the Consolidated Statement of Operations to correct cumulative depreciation and amortization errors related to purchase accounting associated with the Company’s 2007 merger with an affiliate of Kohlberg Kravis Roberts & Co. The corrections impacted “Costs of services” ($10.2 million expense), “Depreciation and amortization” ($57.7 million benefit) and amortization of equity method investments within “Equity earnings in affiliates” ($11.0 million benefit). The errors and the cumulative correction, which totaled $58.5 million in aggregate and occurred over a four year period, were deemed immaterial to prior years and the current year, respectively. | ||||||||||||||||||||||||||||||||||
Revenue Recognition | ' | ' | ||||||||||||||||||||||||||||||||
Revenue Recognition | Revenue Recognition | |||||||||||||||||||||||||||||||||
The Company recognizes revenues from its processing services as such services are performed. Revenue is recorded net of certain costs such as credit and offline debit interchange fees and assessments charged by credit card associations. Debit network fees related to acquired personal identification number based debit (“PIN-debit”) transactions are recognized in the “Reimbursable debit network fees, postage and other” revenue and expense lines of the Consolidated Statements of Operations. The following table presents the amounts associated with processing services revenue: | The majority of the Company’s revenues are comprised of transaction-based fees, which typically constitute a percentage of dollar volume processed, or a fee per transaction processed, or account on file or some combination thereof. In limited circumstances, revenue is allocated to the separate units of accounting in a multiple element transaction based on relative selling prices, provided each element has stand alone value to the customer, and delivery of any undelivered items is probable and substantially within the Company’s control. | |||||||||||||||||||||||||||||||||
Three months ended | Nine months ended | In the case of merchant contracts that the Company owns and manages, revenue is primarily comprised of fees charged to the merchant, net of interchange and assessments charged by the credit card associations, and is recognized at the time of sale. The fees charged to the merchant are a percentage of the credit card and signature based debit card transaction’s dollar value, a fixed amount or a combination of the two. Personal identification number based debit (“PIN-debit”) network fees are recognized in “Reimbursable debit network fees, postage and other” revenues and expenses in the Consolidated Statements of Operations. STAR network access fees charged to merchants are assessed on a per transaction basis. | ||||||||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Interchange fees and assessments charged by credit card associations to the Company’s consolidated subsidiaries and network fees related to PIN-debit transactions charged by debit networks are as follows: | |||||||||||||||||||||||||||||
Interchange fees and assessments | $ | 4,925.00 | $ | 4,669.40 | $ | 14,319.70 | $ | 13,588.30 | ||||||||||||||||||||||||||
Debit network fees | $ | 727.9 | $ | 702 | $ | 2,157.00 | $ | 2,070.90 | Year ended December 31, | |||||||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||||
Interchange fees and assessments | $ | 18,373.00 | $ | 18,826.10 | $ | 17,834.80 | ||||||||||||||||||||||||||||
Debit network fees | 2,786.30 | 2,959.10 | 2,798.30 | |||||||||||||||||||||||||||||||
The Company charges processing fees to its merchant alliances. In situations where an alliance is accounted for under the equity method, the Company’s consolidated revenues include the processing fees charged to the alliance, as presented on the face of the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||
Revenue from check verification, settlement and guarantee services is recognized at the time of sale less the fair value of the guarantee. The fair value of the guarantee is deferred until the later of the Company being called upon to honor the guarantee or the expiration of the guarantee. Check verification fees generally are a fixed amount per transaction while check guarantee fees generally are a percentage of the check amount. | ||||||||||||||||||||||||||||||||||
The purchase and sale of merchant contracts is an ordinary element of the Company’s Retail and Alliance Services and International businesses, and therefore, the gains from selling these revenue-generating assets are included within the “Product sales and other” component of revenues. | ||||||||||||||||||||||||||||||||||
Fees based on cardholder accounts on file, both active and inactive, are recognized after the requisite services or period has occurred. Fees for PIN-debit transactions where the Company is the debit card processor for the financial institution are recognized on a per transaction basis. Revenues for output services are derived primarily on a per piece basis and consist of fees for the production, materials and postage related to mailing finished products. | ||||||||||||||||||||||||||||||||||
Software licensing revenue, which is reported in the “Product sales and other” line item of the Consolidated Statements of Operations, is not recognized until each of the following four criteria are met: evidence of an agreement exists, delivery and acceptance has occurred or services have been rendered, the selling price is fixed or determinable, and collection of the selling price is reasonably assured. | ||||||||||||||||||||||||||||||||||
The sale and leasing of point-of-sale (“POS”) devices (“terminals”) are also reported in “Product sales and other”. Revenue for terminals sold or sold under a sales-type lease transaction is recognized when the following four criteria are met: evidence of an agreement exists, delivery has occurred, the selling price or minimum lease payments are fixed or determinable, and collection of the selling price or minimum lease payments is reasonably assured. Revenue for operating leases is recognized on a straight-line basis over the lease term. | ||||||||||||||||||||||||||||||||||
The official check and money order services and merchant acquiring business generate revenue through the ability to invest funds pending settlement. Gains and losses associated with the above noted investments are recognized in revenue. | ||||||||||||||||||||||||||||||||||
Services not specifically described above are generally transaction based fees that are recognized at the time the transactions are processed or programming services that are recorded as work is performed. | ||||||||||||||||||||||||||||||||||
Stock-Based Compensation | ' | ' | ||||||||||||||||||||||||||||||||
Stock-Based Compensation | ||||||||||||||||||||||||||||||||||
Stock-based compensation to employees is measured at the grant date fair values of the respective stock options and restricted stock awards and expensed over the requisite service periods. An estimate of forfeitures is applied when calculating compensation expense. The Company recognizes compensation cost on awards with graded vesting on a straight-line basis over the requisite service period for the entire award. During 2010, the Company modified the terms of its plan and, due to the nature of call rights and vesting conditions associated with the options and awards, the Company will recognize expense associated with the modifications and grants subsequent to the modifications only upon the occurrence of certain liquidity or employment termination events. Refer to Note 13 of these Consolidated Financial Statements for details regarding the Company’s stock-based compensation plan. | ||||||||||||||||||||||||||||||||||
Foreign Currency Translation | ' | ' | ||||||||||||||||||||||||||||||||
Foreign Currency Translation | ||||||||||||||||||||||||||||||||||
The U.S. dollar is the functional currency for most of the Company’s U.S. based businesses and certain foreign based businesses. Significant operations with a local currency as their functional currency include operations in the United Kingdom, Australia, Germany, Ireland, Greece and Argentina. Foreign currency denominated assets and liabilities for these units and other less significant operations are translated into U.S. dollars based on exchange rates prevailing at the end of the period, and revenues and expenses are translated at average exchange rates during each monthly period. The effects of foreign exchange gains and losses arising from the translation of assets and liabilities of those entities where the functional currency is not the U.S. dollar are included as a component of Other Comprehensive Income (“OCI”). Intercompany loans are generally not considered invested on a long-term basis and such foreign currency gains and losses are recorded in income. Transaction gains and losses related to operating assets and liabilities are included in the “Cost of services” and “Selling, general and administrative” lines of the Consolidated Statements of Operations and were immaterial. Non-operating transaction gains and losses derived from non-operating assets and liabilities are included in the “Other income (expense)” line of the Consolidated Statements of Operations and are separately disclosed in Note 9 of these Consolidated Financial Statements. | ||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | ' | ' | ||||||||||||||||||||||||||||||||
Derivative Financial Instruments | ||||||||||||||||||||||||||||||||||
The Company utilizes derivative instruments to enhance its ability to manage interest rate risk and foreign exchange risk. The Company recognizes all derivative financial instruments in the Consolidated Balance Sheets as assets or liabilities at fair value. Such amounts are recorded in either the “Other current assets”, “Other long-term assets”, “Other current liabilities” or “Other long-term liabilities” captions in the Consolidated Balance Sheets. The Company’s policy is to present all derivative balances on a gross basis, without regard to counterparty master netting agreements or similar arrangements. Changes in fair value of derivative instruments are recognized immediately in earnings unless the derivative is designated and qualifies as a hedge of future cash flows or a hedge of a net investment in a foreign operation. For derivatives that qualify as hedges of future cash flows, the effective portion of changes in fair value is recorded temporarily in equity as a component of OCI and then recognized in earnings in the same period or periods during which the hedged item affects earnings. For derivatives that qualify as a hedge of a net investment in a foreign operation, the gain or loss is reported in OCI as part of the cumulative translation adjustment to the extent the hedge is effective. Any ineffective portions of cash flow hedges and net investment hedges are recognized in the “Other income (expense)” line in the Consolidated Statements of Operations during the period of change. Additional discussion of derivative instruments is provided in Note 6 of these Consolidated Financial Statements. | ||||||||||||||||||||||||||||||||||
Noncontrolling and Redeemable Noncontrolling Interests | ' | ' | ||||||||||||||||||||||||||||||||
Noncontrolling and Redeemable Noncontrolling Interests | ||||||||||||||||||||||||||||||||||
Noncontrolling interests represent the minority shareholders’ share of the net income or loss and equity in consolidated subsidiaries. Substantially all of the Company’s noncontrolling interests are presented pretax in the Consolidated Statements of Operations as “Net income attributable to noncontrolling interests” since the majority of the Company’s non-wholly owned consolidated subsidiaries are flow through entities for tax purposes. Noncontrolling interests are presented as a component of equity in the Consolidated Balance Sheets and reflect the original investments by these noncontrolling shareholders in the consolidated subsidiaries, along with their proportionate share of the earnings or losses of the subsidiaries, net of dividends or distributions. Noncontrolling interests that are redeemable at the option of the holder are presented outside of equity and are carried at their estimated redemption value. A noncontrolling interest is recorded on the date of acquisition based on the total fair value of the acquired entity and the noncontrolling interest’s share of that value. | ||||||||||||||||||||||||||||||||||
Reserve for Merchant Credit Losses and Check Guarantees | ' | ' | ||||||||||||||||||||||||||||||||
Reserve for Merchant Credit Losses and Check Guarantees | ||||||||||||||||||||||||||||||||||
With respect to the merchant acquiring business, the Company’s merchant customers (or those of its unconsolidated alliances) have the liability for any charges properly reversed by the cardholder. In the event, however, that the Company is not able to collect such amounts from the merchants due to merchant fraud, insolvency, bankruptcy or another reason, the Company may be liable for any such reversed charges. The Company’s risk in this area primarily relates to situations where the cardholder has purchased goods or services to be delivered in the future such as airline tickets. | ||||||||||||||||||||||||||||||||||
The Company’s obligation to stand ready to perform is minimal in relation to the total dollar volume processed. The Company requires cash deposits, guarantees, letters of credit or other types of collateral from certain merchants to minimize this obligation. Collateral held by the Company is classified within “Settlement assets” and the obligation to repay the collateral if it is not needed is classified within “Settlement obligations” on the Company’s Consolidated Balance Sheets. The Company also utilizes a number of systems and procedures to manage merchant risk. Despite these efforts, the Company historically has experienced some level of losses due to merchant defaults. | ||||||||||||||||||||||||||||||||||
The Company’s contingent obligation relates to imprecision in its estimates of required collateral. A provision for this obligation is recorded based primarily on historical experience of credit losses and other relevant factors such as economic downturns or increases in merchant fraud. Merchant credit losses are included in “Cost of services” in the Company’s Consolidated Statements of Operations. The amount of the reserves attributable to entities consolidated by the Company was $23.4 million and $31.6 million as of December 31, 2012 and 2011, respectively. | ||||||||||||||||||||||||||||||||||
The majority of the TeleCheck Services, Inc. (“TeleCheck”) business involves the guarantee of checks received by merchants. If the check is returned, TeleCheck is required to purchase the check from the merchant at its face value and pursue collection from the check writer. A provision for estimated check returns, net of anticipated recoveries, is recorded at the transaction inception based on recent history. The following table presents the accrued warranty and recovery balances: | ||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | ||||||||||||||||||||||||||||||||
Accrued warranty balances | $ | 10.9 | $ | 11.4 | ||||||||||||||||||||||||||||||
Accrued recovery balances | $ | 24.8 | $ | 26.8 | ||||||||||||||||||||||||||||||
Accrued warranties are included in “Other current liabilities” and accrued recoveries are included in “Accounts receivable” in the Consolidated Balance Sheets. The maximum potential future payments under the guarantees were estimated by the Company to be approximately $1.3 billion as of December 31, 2012 which represented an estimate of the total uncleared checks at that time. | ||||||||||||||||||||||||||||||||||
Income Taxes | ' | ' | ||||||||||||||||||||||||||||||||
Income Taxes | ||||||||||||||||||||||||||||||||||
The Company and its domestic subsidiaries file a consolidated U.S. income tax return with their parent, First Data Holdings, Inc. (“Holdings”). The Company’s foreign operations file income tax returns in their local jurisdictions. Income taxes are computed in accordance with current accounting guidance and reflect the net tax effects of temporary differences between the financial reporting carrying amounts of assets and liabilities and the corresponding income tax amounts. The Company has deferred tax assets and liabilities and maintains valuation allowances where it is more likely than not that all or a portion of deferred tax assets will not be realized. To the extent the Company determines that it will not realize the benefit of some or all of its deferred tax assets, then these deferred tax assets will be adjusted through the Company’s provision for income taxes in the period in which this determination is made. | ||||||||||||||||||||||||||||||||||
The Company recognizes the tax benefits from uncertain tax positions only when it is more likely than not, based on the technical merits of the position, that the tax position will be sustained upon examination, including the resolution of any related appeals or litigation. The tax benefits recognized in the consolidated financial statements from such a position are measured as the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate resolution. | ||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents | ' | ' | ||||||||||||||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||||||||||||||||
Investments (other than those included in settlement assets) with original maturities of three months or less (that are readily convertible to cash) are considered to be cash equivalents and are stated at cost, which approximates market value. Cash and cash equivalents that were restricted from use due to regulatory requirements are included in “Other long-term assets” in the Consolidated Balance Sheets and were immaterial as of December 31, 2012 and 2011. | ||||||||||||||||||||||||||||||||||
Accounts Receivable and Leasing Receivables | ' | ' | ||||||||||||||||||||||||||||||||
Accounts Receivable and Leasing Receivables | ||||||||||||||||||||||||||||||||||
Accounts receivable balances are stated net of allowance for doubtful accounts. Historically, the Company has not incurred significant write-offs. The Company records allowances for doubtful accounts when it is probable that the accounts receivable balance will not be collected. Long-term accounts receivable balances are included in “Other long-term assets” in the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||||||||
The Company has receivables associated with its point-of-sale (“POS”) terminal leasing businesses. Leasing receivables are included in “Accounts receivable” and “Other long-term assets” in the Consolidated Balance Sheets. The Company recognizes interest income on its leasing receivables using the effective interest method. Interest income from leasing receivables is included in “Product Sales and Other” in the Consolidated Statements of Operations. For direct financing leases, the interest rate used incorporates initial direct costs included in the net investment in the lease. For sales type leases, initial direct costs are expensed as incurred. | ||||||||||||||||||||||||||||||||||
Property and Equipment | ' | ' | ||||||||||||||||||||||||||||||||
Property and Equipment | ||||||||||||||||||||||||||||||||||
Property and equipment are stated at cost less accumulated depreciation. Depreciation expense is computed using the straight-line method over the lesser of the estimated useful life of the related assets (generally three to 10 years for equipment, furniture and leasehold improvements, and 30 years for buildings) or the lease term. Maintenance and repairs which do not extend the useful life of the respective assets are charged to expense as incurred. The following table presents the amounts charged to expense for the depreciation and amortization of property and equipment, including equipment under capital lease: | ||||||||||||||||||||||||||||||||||
Year ended December 31, | Amount | |||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||
2012 | $ | 284.5 | ||||||||||||||||||||||||||||||||
2011 | 292.1 | |||||||||||||||||||||||||||||||||
2010 | 320.4 | |||||||||||||||||||||||||||||||||
Goodwill and Other Intangibles | ' | ' | ||||||||||||||||||||||||||||||||
Goodwill and Other Intangibles | ||||||||||||||||||||||||||||||||||
Goodwill represents the excess of purchase price over tangible and intangible assets acquired less liabilities assumed arising from business combinations. Goodwill is generally allocated to reporting units based upon relative fair value (taking into consideration other factors such as synergies) when an acquired business is integrated into multiple reporting units. The Company’s reporting units are at the operating segment level or businesses one level below the operating segment level for which discrete financial information is prepared and regularly reviewed by management. When a business within a reporting unit is disposed of, goodwill is allocated to the disposed business using the relative fair value method. Relative fair value is estimated using a discounted cash flow analysis. | ||||||||||||||||||||||||||||||||||
The Company tests goodwill annually for impairment, as well as upon an indicator of impairment, using a fair value approach at the reporting unit level. The Company estimates the fair value of each reporting unit using a discounted cash flow analysis. The Company performed its annual goodwill impairment test in the fourth quarters of 2012, 2011 and 2010. As of October 1, 2012, the most recent impairment analysis date, the fair value of each reporting unit substantially exceeded its carrying value. The Company did not record any goodwill impairment charges in 2011 or 2010. Discussion of impairments that were recorded in 2012 is included in Note 7 of these Consolidated Financial Statements. | ||||||||||||||||||||||||||||||||||
Customer relationships represent the estimated value of the Company’s relationships with customers, primarily merchants and financial institutions, to which it provides services. Customer relationships are amortized based on the pattern of undiscounted cash flows for the period as a percentage of total projected undiscounted cash flows. The Company selected this amortization method for these customer relationships based on a conclusion that the projected undiscounted cash flows could be reliably determined. | ||||||||||||||||||||||||||||||||||
The Company capitalizes initial payments for new contracts, contract renewals and conversion costs associated with customer processing relationships to the extent recoverable through future operations, contractual minimums and/or penalties in the case of early termination. The Company’s accounting policy is to limit the amount of capitalized costs for a given contract to the lesser of the estimated ongoing future cash flows from the contract or the termination fees the Company would receive in the event of early termination of the contract by the customer. The initial payments for new contracts and contract renewals are amortized over the term of the contract as a reduction of the associated revenue (transaction and processing service fees). Conversion costs are also amortized over the term of the contract but are recorded as an expense in “Depreciation and amortization” in the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||
The Company develops software that is used in providing processing services to customers. To a lesser extent, the Company also develops software to be sold or licensed to customers. Software development costs are capitalized once technological feasibility of the software has been established. Costs incurred prior to establishing technological feasibility are expensed as incurred. Technological feasibility is established when the Company has completed all planning, designing, coding and testing activities that are necessary to determine that a product can be produced to meet its design specifications, including functions, features and technical performance requirements. Capitalization of costs ceases when the product is available for general use. Software development costs are amortized using the straight-line method over the estimated useful life of the software, which is generally five years. Software acquired in connection with business combinations is amortized using the straight-line method over the estimated useful life of the software which generally ranges from three to 10 years. | ||||||||||||||||||||||||||||||||||
In addition to capitalized contract and software development costs, other intangibles include copyrights, patents, purchased software, trademarks and non-compete agreements acquired in business combinations. Other intangibles, except for the First Data trade name discussed below, are amortized on a straight-line basis over the length of the contract or benefit period, which generally ranges from three to 25 years. The intangible amortization expense associated with customer relationships and other intangibles, including amortization associated with investments in affiliates, was as follows: | ||||||||||||||||||||||||||||||||||
Year ended December 31, | Amount | |||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||
2012 | $ | 1,046.40 | ||||||||||||||||||||||||||||||||
2011 | 1,052.10 | |||||||||||||||||||||||||||||||||
2010 | 1,205.60 | |||||||||||||||||||||||||||||||||
The value of the First Data trade name is $603.5 million as of December 31, 2012 and 2011. Upon consideration of many factors, including the determination that there are no legal, regulatory or contractual provisions that limit the useful life of the First Data trade name, the Company determined that the First Data trade name had an indefinite useful life. The Company also considered the effects of obsolescence, demand, competition, other economic factors and ability to maintain and protect the trade name without significant expenditures. The First Data trade name is expected to contribute directly or indirectly to the future cash flows of the Company for an indefinite period. As an indefinite lived asset, the First Data trade name is not amortized but is reviewed annually for impairment until such time as it is determined to have a finite life. The First Data trade name was not impaired as of December 31, 2012 or 2011. | ||||||||||||||||||||||||||||||||||
The following table provides the components of other intangibles: | ||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||
(in millions) | 2012 | 2012 | 2012 | 2011 | 2011 | 2011 | ||||||||||||||||||||||||||||
Cost | Accumulated | Net of | Cost | Accumulated | Net of | |||||||||||||||||||||||||||||
Amortization | Accumulated | Amortization | Accumulated | |||||||||||||||||||||||||||||||
Amortization | Amortization | |||||||||||||||||||||||||||||||||
Customer relationships | $ | 7,595.30 | $ | (3,839.0 | ) | $ | 3,756.30 | $ | 7,638.10 | $ | (3,212.7 | ) | $ | 4,425.40 | ||||||||||||||||||||
Other intangibles: | ||||||||||||||||||||||||||||||||||
Conversion costs | $ | 154.3 | $ | (56.7 | ) | $ | 97.6 | $ | 120.9 | $ | (38.9 | ) | $ | 82 | ||||||||||||||||||||
Contract costs | 222.2 | (119.6 | ) | 102.6 | 189.9 | (88.3 | ) | 101.6 | ||||||||||||||||||||||||||
Software | 1,544.70 | (1,098.0 | ) | 446.7 | 1,402.40 | (933.0 | ) | 469.4 | ||||||||||||||||||||||||||
Other, including trade names | 1,451.40 | (269.7 | ) | 1,181.70 | 1,448.20 | (222.0 | ) | 1,226.20 | ||||||||||||||||||||||||||
Total other intangibles | $ | 3,372.60 | $ | (1,544.0 | ) | $ | 1,828.60 | $ | 3,161.40 | $ | (1,282.2 | ) | $ | 1,879.20 | ||||||||||||||||||||
The estimated future aggregate amortization expense for the next five years is as follows: | ||||||||||||||||||||||||||||||||||
Year ended December 31, | Amount | |||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||
2013 | $ | 833.7 | ||||||||||||||||||||||||||||||||
2014 | 748 | |||||||||||||||||||||||||||||||||
2015 | 662.7 | |||||||||||||||||||||||||||||||||
2016 | 507.5 | |||||||||||||||||||||||||||||||||
2017 | 427.9 | |||||||||||||||||||||||||||||||||
The Company tests contract and conversion costs greater than $1 million for recoverability on an annual basis by comparing the remaining expected undiscounted cash flows under the contract to the net book value. Any assets that are determined to be unrecoverable are written down to their fair value. In addition to this annual test, these assets and all other long lived assets are tested for impairment upon an indicator of potential impairment. The Company recorded impairment charges relating to other intangibles in 2012 and 2010 as described in Note 7 of these Consolidated Financial Statements. | ||||||||||||||||||||||||||||||||||
Inventory | ' | ' | ||||||||||||||||||||||||||||||||
Inventory | ||||||||||||||||||||||||||||||||||
Inventories are stated at lower of cost or market and consist primarily of POS terminals, forms and envelopes. The cost of inventory is determined using average cost for POS terminals and first-in first-out (“FIFO”) for forms. | ||||||||||||||||||||||||||||||||||
Investment Securities | ' | ' | ||||||||||||||||||||||||||||||||
Investment Securities | ||||||||||||||||||||||||||||||||||
The Company maintains investments in marketable and non-marketable securities, the majority of which are carried at fair value. These are included in the “Settlement assets”, “Other current assets”, “Long-term settlement assets” and “Other long-term assets” line items of the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||||||||
The specific identification method is used to determine the cost basis of securities sold. As of December 31, 2012 and 2011, all of the debt and equity securities were classified as available-for-sale. Unrealized gains and losses on these investments are included as a separate component of OCI, net of any related tax effect. The Company assesses marketable securities for impairment quarterly. Cost method investments are evaluated for impairment upon an indicator of impairment such as an event or change in circumstances that may have a significant adverse effect on the fair value of the investment. If no such events or changes in circumstances have occurred, the fair value is estimated only if practicable to do so. | ||||||||||||||||||||||||||||||||||
For equity securities, declines in value that are judged to be other than temporary in nature are recognized in the Consolidated Statements of Operations. For public company equity securities, the Company’s policy is to treat a decline in the investment’s quoted market value that has lasted for more than six months as an other than temporary decline in value. | ||||||||||||||||||||||||||||||||||
For debt securities, when the Company intends to sell an impaired debt security or it is more likely than not it will be required to sell prior to recovery of its amortized cost basis, an other-than-temporary-impairment (“OTTI”) has occurred. The impairment is recognized in earnings equal to the entire difference between the debt security’s amortized cost basis and its fair value. When the Company does not intend to sell an impaired debt security and it is not more likely than not it will be required to sell prior to recovery of its amortized cost basis, the Company assesses whether it will recover its amortized cost basis. If the entire amortized cost will not be recovered, a credit loss exists resulting in the credit loss portion of the OTTI being recognized in earnings and the amount related to all other factors recognized in OCI. Refer to Note 7 of these Consolidated Financial Statements for a detailed discussion regarding the fair value of the Company’s investments. | ||||||||||||||||||||||||||||||||||
New Accounting Guidance | ' | ' | ||||||||||||||||||||||||||||||||
New Accounting Guidance | New Accounting Guidance | |||||||||||||||||||||||||||||||||
In March 2013, the Financial Accounting Standards Board issued guidance that resolves diversity in practice as to when to release the cumulative translation adjustment into net income when a parent ceases to have a controlling interest in a subsidiary within a foreign entity or sells a part or all of its investment in a foreign entity. The guidance also resolves diversity in the accounting for the cumulative translation adjustment in a business combination achieved in stages involving a foreign entity. The Company adopted the guidance as of January 1, 2013. Adoption did not have an impact on the Company’s financial position or results of operations. | In July 2012, the Financial Accounting Standards Board issued guidance related to testing indefinite-lived intangibles for impairment. Under the amended guidance, an entity has the option of first assessing qualitative factors to determine whether events and circumstances indicate that it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount. If it is determined that the fair value is more likely than not greater than the carrying amount, then quantitative impairment testing is unnecessary. The Company adopted the amendments for its 2012 annual impairment test. After performing a qualitative assessment, the Company proceeded to a quantitative impairment test. | |||||||||||||||||||||||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
Summary of Significant Accounting Policies | ' | ' | ||||||||||||||||||||||||||||||||
Schedule of amounts associated with amortization of initial payments for new contracts and equity method investments | ' | ' | ||||||||||||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | ||||||||||||||||||||||||||||||||
September 30, | September 30, | (in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Amortization of initial payments for new contracts | $ | 44.5 | $ | 42.5 | $ | 38.6 | |||||||||||||||||||||||
Amortization of initial payments for new contracts | $ | 10.4 | $ | 12 | $ | 30.7 | $ | 33.7 | Amortization related to equity method investments | $ | 94.8 | $ | 56.7 | $ | 73 | |||||||||||||||||||
Amortization related to equity method investments | $ | 19.7 | $ | 21.4 | $ | 59.2 | $ | 73.3 | ||||||||||||||||||||||||||
Schedule of interchange fees and assessments charged by credit card associations and network fees related to PIN-debit transactions charged by debit networks | ' | ' | ||||||||||||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | ||||||||||||||||||||||||||||||||
September 30, | September 30, | (in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Interchange fees and assessments | $ | 18,373.00 | $ | 18,826.10 | $ | 17,834.80 | |||||||||||||||||||||||
Interchange fees and assessments | $ | 4,925.00 | $ | 4,669.40 | $ | 14,319.70 | $ | 13,588.30 | Debit network fees | 2,786.30 | 2,959.10 | 2,798.30 | ||||||||||||||||||||||
Debit network fees | $ | 727.9 | $ | 702 | $ | 2,157.00 | $ | 2,070.90 | ||||||||||||||||||||||||||
Schedule of accrued warranty and recovery balances | ' | ' | ||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | ||||||||||||||||||||||||||||||||
Accrued warranty balances | $ | 10.9 | $ | 11.4 | ||||||||||||||||||||||||||||||
Accrued recovery balances | $ | 24.8 | $ | 26.8 | ||||||||||||||||||||||||||||||
Schedule of amounts charged to expense for the depreciation and amortization of property and equipment, including equipment under capital lease | ' | ' | ||||||||||||||||||||||||||||||||
Year ended December 31, | Amount | |||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||
2012 | $ | 284.5 | ||||||||||||||||||||||||||||||||
2011 | 292.1 | |||||||||||||||||||||||||||||||||
2010 | 320.4 | |||||||||||||||||||||||||||||||||
Schedule of intangible amortization expense associated with customer relationships and other intangibles, including amortization associated with investments in affiliates | ' | ' | ||||||||||||||||||||||||||||||||
Year ended December 31, | Amount | |||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||
2012 | $ | 1,046.40 | ||||||||||||||||||||||||||||||||
2011 | 1,052.10 | |||||||||||||||||||||||||||||||||
2010 | 1,205.60 | |||||||||||||||||||||||||||||||||
Schedule of components of other intangibles | ' | ' | ||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||
(in millions) | 2012 | 2012 | 2012 | 2011 | 2011 | 2011 | ||||||||||||||||||||||||||||
Cost | Accumulated | Net of | Cost | Accumulated | Net of | |||||||||||||||||||||||||||||
Amortization | Accumulated | Amortization | Accumulated | |||||||||||||||||||||||||||||||
Amortization | Amortization | |||||||||||||||||||||||||||||||||
Customer relationships | $ | 7,595.30 | $ | (3,839.0 | ) | $ | 3,756.30 | $ | 7,638.10 | $ | (3,212.7 | ) | $ | 4,425.40 | ||||||||||||||||||||
Other intangibles: | ||||||||||||||||||||||||||||||||||
Conversion costs | $ | 154.3 | $ | (56.7 | ) | $ | 97.6 | $ | 120.9 | $ | (38.9 | ) | $ | 82 | ||||||||||||||||||||
Contract costs | 222.2 | (119.6 | ) | 102.6 | 189.9 | (88.3 | ) | 101.6 | ||||||||||||||||||||||||||
Software | 1,544.70 | (1,098.0 | ) | 446.7 | 1,402.40 | (933.0 | ) | 469.4 | ||||||||||||||||||||||||||
Other, including trade names | 1,451.40 | (269.7 | ) | 1,181.70 | 1,448.20 | (222.0 | ) | 1,226.20 | ||||||||||||||||||||||||||
Total other intangibles | $ | 3,372.60 | $ | (1,544.0 | ) | $ | 1,828.60 | $ | 3,161.40 | $ | (1,282.2 | ) | $ | 1,879.20 | ||||||||||||||||||||
Schedule of estimated future aggregate amortization expense | ' | ' | ||||||||||||||||||||||||||||||||
Year ended December 31, | Amount | |||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||
2013 | $ | 833.7 | ||||||||||||||||||||||||||||||||
2014 | 748 | |||||||||||||||||||||||||||||||||
2015 | 662.7 | |||||||||||||||||||||||||||||||||
2016 | 507.5 | |||||||||||||||||||||||||||||||||
2017 | 427.9 | |||||||||||||||||||||||||||||||||
Restructuring_Tables
Restructuring (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||
Restructuring | ' | ' | ||||||||||||||||||||||||||||||||||
Summary of net pretax benefits (charges), incurred by segment | ' | ' | ||||||||||||||||||||||||||||||||||
Pretax Benefit (Charge) | Pretax Benefit (Charge) | |||||||||||||||||||||||||||||||||||
(in millions) | Approximate | Retail and | Financial | International | All Other and | Totals | (in millions) | Retail and | Financial | International | All Other | Totals | ||||||||||||||||||||||||
Number of | Alliance | Services | Corporate | Alliance | Services | and | ||||||||||||||||||||||||||||||
Employees | Services | Services | Corporate | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||
Restructuring charges | 100 | $ | (1.8 | ) | $ | (3.6 | ) | $ | (0.6 | ) | $ | (4.1 | ) | $ | (10.1 | ) | Restructuring charges | $ | (7.5 | ) | $ | — | $ | (18.5 | ) | $ | (2.2 | ) | $ | (28.2 | ) | |||||
Restructuring accrual reversals | 1.2 | 0.2 | 0.6 | 0.3 | 2.3 | Restructuring accrual reversals | 1 | — | 2.8 | 1.3 | 5.1 | |||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (0.6 | ) | $ | (3.4 | ) | $ | — | $ | (3.8 | ) | $ | (7.8 | ) | Total pretax charge, net of reversals | $ | (6.5 | ) | $ | — | $ | (15.7 | ) | $ | (0.9 | ) | $ | (23.1 | ) | |||||||
Nine months ended September 30, 2013 | Year ended December 31, 2011 | |||||||||||||||||||||||||||||||||||
Restructuring charges | 460 | $ | (16.9 | ) | $ | (8.5 | ) | $ | (1.4 | ) | $ | (22.4 | ) | $ | (49.2 | ) | Restructuring charges | $ | (2.8 | ) | $ | (10.5 | ) | $ | (34.2 | ) | $ | (3.8 | ) | $ | (51.3 | ) | ||||
Restructuring accrual reversals | 1.9 | 0.2 | 0.6 | 0.5 | 3.2 | Restructuring accrual reversals | 1.1 | — | 2.5 | 1.3 | 4.9 | |||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (15.0 | ) | $ | (8.3 | ) | $ | (0.8 | ) | $ | (21.9 | ) | $ | (46.0 | ) | Total pretax charge, net of reversals | $ | (1.7 | ) | $ | (10.5 | ) | $ | (31.7 | ) | $ | (2.5 | ) | $ | (46.4 | ) | |||||
Three months ended September 30, 2012 | Year ended December 31, 2010 | |||||||||||||||||||||||||||||||||||
Restructuring charges | 10 | $ | (4.4 | ) | $ | — | $ | (1.7 | ) | $ | (1.2 | ) | $ | (7.3 | ) | Restructuring charges | $ | (20.3 | ) | $ | (11.3 | ) | $ | (28.2 | ) | $ | (27.7 | ) | $ | (87.5 | ) | |||||
Restructuring accrual reversals | — | — | 0.1 | — | 0.1 | Restructuring accrual reversals | 0.7 | 0.8 | 10.9 | 3.1 | 15.5 | |||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (4.4 | ) | $ | — | $ | (1.6 | ) | $ | (1.2 | ) | $ | (7.2 | ) | Total pretax charge, net of reversals | $ | (19.6 | ) | $ | (10.5 | ) | $ | (17.3 | ) | $ | (24.6 | ) | $ | (72.0 | ) | ||||||
Nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Restructuring charges | 580 | $ | (7.4 | ) | $ | — | $ | (17.8 | ) | $ | (2.0 | ) | $ | (27.2 | ) | |||||||||||||||||||||
Restructuring accrual reversals | 1 | — | 0.8 | 1.3 | 3.1 | |||||||||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (6.4 | ) | $ | — | $ | (17.0 | ) | $ | (0.7 | ) | $ | (24.1 | ) | ||||||||||||||||||||||
Summary of utilization of restructuring accruals | ' | ' | ||||||||||||||||||||||||||||||||||
(in millions) | Employee | (in millions) | Employee | Facility | ||||||||||||||||||||||||||||||||
Severance | Severance | Closure | ||||||||||||||||||||||||||||||||||
Remaining accrual as of January 1, 2013 | $ | 13.1 | Remaining accrual as of January 1, 2011 | $ | 38.7 | $ | 0.2 | |||||||||||||||||||||||||||||
Expense provision | 49.2 | Expense provision | 45 | 6.3 | ||||||||||||||||||||||||||||||||
Cash payments and other | (30.3 | ) | Cash payments and other | (62.2 | ) | (5.5 | ) | |||||||||||||||||||||||||||||
Changes in estimates | (3.2 | ) | Changes in estimates | (4.8 | ) | (0.1 | ) | |||||||||||||||||||||||||||||
Remaining accrual as of September 30, 2013 | $ | 28.8 | Remaining accrual as of December 31, 2011 | 16.7 | 0.9 | |||||||||||||||||||||||||||||||
Expense provision | 28.2 | — | ||||||||||||||||||||||||||||||||||
Cash payments and other | (26.8 | ) | (0.8 | ) | ||||||||||||||||||||||||||||||||
Changes in estimates | (5.0 | ) | (0.1 | ) | ||||||||||||||||||||||||||||||||
Remaining accrual as of December 31, 2012 | $ | 13.1 | $ | — | ||||||||||||||||||||||||||||||||
Business_Combinations_Asset_Ac1
Business Combinations, Asset Acquisitions and Dispositions (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2012 | ||||||||||||||||||||
Acquisition | ' | |||||||||||||||||||
Schedule of businesses and assets acquired and initial consideration | ' | |||||||||||||||||||
Initial Consideration (b) | ||||||||||||||||||||
Businesses and Assets Acquired (a) | Month | Total | Cash | |||||||||||||||||
(in millions) | ||||||||||||||||||||
2012:00:00 | ||||||||||||||||||||
Purchase of noncontrolling interest in Omnipay | April | $ | 49 | $ | 25.1 | |||||||||||||||
Clover Network, Inc. | December | 56.1 | 36.1 | |||||||||||||||||
Merchant portfolio acquisitions | 1.9 | 1.9 | ||||||||||||||||||
$ | 107 | $ | 63.1 | |||||||||||||||||
2011:00:00 | ||||||||||||||||||||
Merchant portfolio acquisitions | $ | 19.2 | $ | 19.2 | ||||||||||||||||
2010:00:00 | ||||||||||||||||||||
Redemption of Rockmount Investments, LLC (“Rockmount”) put in BAMS (c) | $ | 213.3 | $ | 213.3 | ||||||||||||||||
Merchant portfolio acquisitions | 1.8 | 1.8 | ||||||||||||||||||
$ | 215.1 | $ | 215.1 | |||||||||||||||||
(a) Includes businesses and assets consolidated by the Company upon acquisition. For information related to equity method investments refer to Note 18 of these Consolidated Financial Statements. | ||||||||||||||||||||
(b) Includes cash acquired and debt assumed. | ||||||||||||||||||||
(c) Banc of America Merchant Services, LLC (“BAMS”) | ||||||||||||||||||||
Schedule of net assets acquired and net cash paid for acquisitions (at date of acquisition) for businesses and assets other than equity method investments | ' | |||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||||||||||
Fair value of net assets acquired | $ | 107 | $ | 19.2 | $ | 215.1 | ||||||||||||||
Less non-cash consideration | (43.9 | ) | — | — | ||||||||||||||||
Less cash acquired | (2.0 | ) | — | — | ||||||||||||||||
Net cash paid for acquisitions | $ | 61.1 | $ | 19.2 | $ | 215.1 | ||||||||||||||
Schedule of changes to goodwill | ' | |||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Divested | Totals | ||||||||||||||
Alliance | Services | and | Operations | |||||||||||||||||
Services | Corporate | |||||||||||||||||||
Balance as of January 1, 2011 | ||||||||||||||||||||
Goodwill | $ | 14,065.70 | $ | 3,451.40 | $ | 2,657.10 | $ | 177 | $ | 181.3 | $ | 20,532.50 | ||||||||
Accumulated impairment losses | (1,106.5 | ) | (1,395.2 | ) | (375.6 | ) | (177.0 | ) | (181.3 | ) | (3,235.6 | ) | ||||||||
12,959.20 | 2,056.20 | 2,281.50 | — | — | 17,296.90 | |||||||||||||||
Deconsolidation (a) | (42.8 | ) | — | — | — | — | (42.8 | ) | ||||||||||||
Purchase price adjustments | — | — | (4.5 | ) | — | — | (4.5 | ) | ||||||||||||
Other adjustments (primarily foreign currency) | — | — | (45.0 | ) | — | — | (45.0 | ) | ||||||||||||
Balance as of December 31, 2011 | ||||||||||||||||||||
Goodwill | 14,022.90 | 3,451.40 | 2,607.60 | 177 | 181.3 | 20,440.20 | ||||||||||||||
Accumulated impairment losses | (1,106.5 | ) | (1,395.2 | ) | (375.6 | ) | (177.0 | ) | (181.3 | ) | (3,235.6 | ) | ||||||||
12,916.40 | 2,056.20 | 2,232.00 | — | — | 17,204.60 | |||||||||||||||
Acquisitions | 48.9 | — | — | — | — | 48.9 | ||||||||||||||
Impairments | — | (4.5 | ) | — | — | — | (4.5 | ) | ||||||||||||
Other adjustments (primarily foreign currency) | — | — | 33.5 | — | — | 33.5 | ||||||||||||||
Balance as of December 31, 2012 | ||||||||||||||||||||
Goodwill | 14,071.80 | 3,451.40 | 2,641.10 | 177 | 181.3 | 20,522.60 | ||||||||||||||
Accumulated impairment losses | (1,106.5 | ) | (1,399.7 | ) | (375.6 | ) | (177.0 | ) | (181.3 | ) | (3,240.1 | ) | ||||||||
$ | 12,965.30 | $ | 2,051.70 | $ | 2,265.50 | $ | — | $ | — | $ | 17,282.50 | |||||||||
(a) Relates to the deconsolidation of the Company’s transportation business. Refer to Note 18 of these Consolidated Financial Statements for additional information. |
Settlement_Assets_and_Obligati1
Settlement Assets and Obligations (Tables) | 12 Months Ended | |||||||
Dec. 31, 2012 | ||||||||
Settlement Assets and Obligations | ' | |||||||
Schedule of principal components of settlement assets and obligations | ' | |||||||
As of December 31, | ||||||||
(in millions) | 2012 | 2011 | ||||||
Settlement assets: | ||||||||
Current settlement assets: | ||||||||
Cash and cash equivalents | $ | 3,790.40 | $ | 1,650.30 | ||||
Investment securities | 125.6 | 105.7 | ||||||
Due from card associations and bank partners | 4,523.40 | 8,353.30 | ||||||
Due from merchants | 734.4 | 549 | ||||||
9,173.80 | 10,658.30 | |||||||
Long-term settlement assets: | ||||||||
Investment securities | 54.3 | 181 | ||||||
$ | 9,228.10 | $ | 10,839.30 | |||||
Settlement obligations: | ||||||||
Current settlement obligations: | ||||||||
Payment instruments outstanding | $ | 289.9 | $ | 459.6 | ||||
Card settlements due to merchants | 8,936.40 | 10,378.20 | ||||||
$ | 9,226.30 | $ | 10,837.80 | |||||
Investment_Securities_Tables
Investment Securities (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||
Investment Securities | ' | ' | ||||||||||||||||||||||||||||||||||||||
Schedule of principal components of the investment securities | ' | ' | ||||||||||||||||||||||||||||||||||||||
(in millions) | Cost (a) | Gross | Gross | OTTI Recognized | Fair | (in millions) | Cost (a) | Gross | Gross | OTTI Recognized in | Fair | |||||||||||||||||||||||||||||
Unrealized | Unrealized | in | Value (d) | Unrealized | Unrealized | OCI (b)/(c) | Value (d) | |||||||||||||||||||||||||||||||||
Gain | (Loss) excluding | OCI (b)(c) | Gain | (Loss) excluding | ||||||||||||||||||||||||||||||||||||
OTTI (b) | OTTI (b) | |||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||||
Student loan auction rate securities | $ | 12.8 | $ | 0.8 | $ | — | $ | — | $ | 13.6 | Student loan auction rate securities | $ | 37.6 | $ | 1.2 | $ | — | $ | — | $ | 38.8 | |||||||||||||||||||
Corporate bonds | 6.1 | — | — | — | 6.1 | Corporate bonds | 6.6 | — | — | — | 6.6 | |||||||||||||||||||||||||||||
State and municipal obligations | 57.3 | — | — | — | 57.3 | State and municipal obligations | 134.5 | — | (0.1 | ) | — | 134.4 | ||||||||||||||||||||||||||||
Preferred stock | 0.1 | 1.9 | — | — | 2 | Other | 0.1 | 0.5 | — | — | 0.6 | |||||||||||||||||||||||||||||
Total available-for-sale securities | 76.3 | 2.7 | — | — | 79 | Total available-for-sale securities | 178.8 | 1.7 | (0.1 | ) | — | 180.4 | ||||||||||||||||||||||||||||
Cost method investments | 9.1 | — | — | — | 9.1 | Cost method investments | 13.4 | — | — | — | 13.4 | |||||||||||||||||||||||||||||
Totals | $ | 85.4 | $ | 2.7 | $ | — | $ | — | $ | 88.1 | Totals | $ | 192.2 | $ | 1.7 | $ | (0.1 | ) | $ | — | $ | 193.8 | ||||||||||||||||||
As of December 31, 2012 | As of December 31, 2011 | |||||||||||||||||||||||||||||||||||||||
Student loan auction rate securities | $ | 37.6 | $ | 1.2 | $ | — | $ | — | $ | 38.8 | Student loan auction rate securities | $ | 169.3 | $ | 1.2 | $ | — | $ | — | $ | 170.5 | |||||||||||||||||||
Corporate bonds | 6.6 | — | — | — | 6.6 | Corporate bonds | 10.3 | — | (0.1 | ) | — | 10.2 | ||||||||||||||||||||||||||||
State and municipal obligations | 134.5 | — | (0.1 | ) | — | 134.4 | State and municipal obligations | 96 | — | — | — | 96 | ||||||||||||||||||||||||||||
Preferred stock | 0.1 | 0.5 | — | — | 0.6 | U.S. Government guaranteed securities | 10 | — | — | — | 10 | |||||||||||||||||||||||||||||
Total available-for-sale securities | 178.8 | 1.7 | (0.1 | ) | — | 180.4 | Other | 0.1 | 0.4 | — | — | 0.5 | ||||||||||||||||||||||||||||
Cost method investments | 13.4 | — | — | — | 13.4 | Total available-for-sale securities | 285.7 | 1.6 | (0.1 | ) | — | 287.2 | ||||||||||||||||||||||||||||
Totals | $ | 192.2 | $ | 1.7 | $ | (0.1 | ) | $ | — | $ | 193.8 | Cost method investments | 23.7 | — | — | — | 23.7 | |||||||||||||||||||||||
Totals | $ | 309.4 | $ | 1.6 | $ | (0.1 | ) | $ | — | $ | 310.9 | |||||||||||||||||||||||||||||
(a) Represents amortized cost for debt securities. | ||||||||||||||||||||||||||||||||||||||||
(b) “OTTI” refers to other-than-temporary impairments. | ||||||||||||||||||||||||||||||||||||||||
(c) For debt securities, represents the fair value adjustment excluding that attributable to credit losses. | (a) Represents amortized cost for debt securities. | |||||||||||||||||||||||||||||||||||||||
(d) Represents cost for cost method investments. | (b) “OTTI” refers to other-than-temporary impairments. | |||||||||||||||||||||||||||||||||||||||
(c) For debt securities, represents the fair value adjustment excluding that attributable to credit losses. | ||||||||||||||||||||||||||||||||||||||||
(d) Represents cost for cost method investments. | ||||||||||||||||||||||||||||||||||||||||
Schedule of gross unrealized losses and fair value of the investments in a continuous unrealized loss position, aggregated by investment category and length of time | ' | ' | ||||||||||||||||||||||||||||||||||||||
Less than 12 months | More than 12 months | Total | Less than 12 months | More than 12 months | Total | |||||||||||||||||||||||||||||||||||
(in millions) | Fair | Unrealized | Fair | Unrealized | Total | Unrealized | (in millions) | Fair | Unrealized | Fair | Unrealized | Total | Unrealized | |||||||||||||||||||||||||||
Value | Losses | Value | Losses | Fair Value | Losses | Value | Losses | Value | Losses | Fair Value | Losses | |||||||||||||||||||||||||||||
As of December 31, 2012 | As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||||
State and municipal obligations (a) | $ | 45.3 | $ | — | $ | 0.1 | $ | — | $ | 45.4 | $ | (0.1 | ) | State and municipal obligations (a) | $ | 45.3 | $ | — | $ | 0.1 | $ | — | $ | 45.4 | $ | (0.1 | ) | |||||||||||||
As of December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||
(a) Unrealized losses less than and greater than 12 months are less than $50,000, respectively. | Corporate bonds | $ | 10.2 | $ | (0.1 | ) | $ | — | $ | — | $ | 10.2 | $ | (0.1 | ) | |||||||||||||||||||||||||
(a) Unrealized losses less than and greater than 12 months are less than $50,000, respectively. | ||||||||||||||||||||||||||||||||||||||||
Schedule of additional information regarding available-for-sale securities | ' | ' | ||||||||||||||||||||||||||||||||||||||
Three months | Nine months | |||||||||||||||||||||||||||||||||||||||
ended September 30, | ended September 30, | |||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Proceeds from sales (a) | $ | 91.4 | $ | 104.2 | $ | 257 | $ | 271.9 | ||||||||||||||||||||||||||||||||
Purchases | $ | 29.5 | $ | 51.8 | $ | 142.3 | $ | 142.5 | Year ended December 31, | |||||||||||||||||||||||||||||||
Gross realized gains included in earnings as a result of sales (a) | $ | 0.3 | $ | 1.1 | $ | 1.3 | $ | 4.3 | (in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||
Net unrealized gains included in OCI, net of tax | $ | 0.3 | $ | — | $ | 2.2 | $ | 2.6 | Proceeds from sales(a) | $ | 156.6 | $ | 283.2 | $ | 138.1 | |||||||||||||||||||||||||
Net gains reclassified out of OCI into earnings, net of tax | $ | 0.2 | $ | 0.8 | $ | 1.2 | $ | 2.8 | Purchases | $ | 194.1 | $ | 269.7 | $ | 44.4 | |||||||||||||||||||||||||
Gross realized gains included in earnings as a result of sales(a) | 4.4 | 3.6 | 6.2 | |||||||||||||||||||||||||||||||||||||
(a) Includes activity resulting from sales, maturities and redemptions. | Gross realized (losses) included in earnings as a result of sales(a) | — | (2.9 | ) | (3.3 | ) | ||||||||||||||||||||||||||||||||||
Gross losses included in earnings as a result of impairment(b) | — | (5.2 | ) | (28.2 | ) | |||||||||||||||||||||||||||||||||||
Net unrealized gains or (losses) included in OCI, net of tax | 2.9 | (2.0 | ) | 7.7 | ||||||||||||||||||||||||||||||||||||
Net gains or (losses) reclassified out of OCI into earnings, net of tax | 2.7 | (2.8 | ) | (19.8 | ) | |||||||||||||||||||||||||||||||||||
(a) | ||||||||||||||||||||||||||||||||||||||||
Includes activity resulting from sales, redemptions, liquidations and related matters. | ||||||||||||||||||||||||||||||||||||||||
(b) | ||||||||||||||||||||||||||||||||||||||||
In the fourth quarter of 2010, due to new and existing state laws and regulations as well as the Company's changing views of its use of capital, the Company determined it could no longer assert that it will not more likely than not be required to sell the SLARS prior to the recovery of their fair value to amortized cost. | ||||||||||||||||||||||||||||||||||||||||
Schedule of maturity information for the investments in debt securities | ' | ' | ||||||||||||||||||||||||||||||||||||||
(in millions) | Fair Value | (in millions) | Fair Value | |||||||||||||||||||||||||||||||||||||
Due within one year | $ | 59.8 | Due within one year | $ | 125.6 | |||||||||||||||||||||||||||||||||||
Due after one year through five years | 3.5 | Due after one year through five years | 15.3 | |||||||||||||||||||||||||||||||||||||
Due after 10 years | 13.7 | Due after five years through 10 years | — | |||||||||||||||||||||||||||||||||||||
Total debt securities | $ | 77 | Due after 10 years | 38.9 | ||||||||||||||||||||||||||||||||||||
Total debt securities | $ | 179.8 | ||||||||||||||||||||||||||||||||||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||||||||
Derivative Financial Instruments | ' | ' | |||||||||||||||||||||||||||||
Schedule of derivative instruments portfolio | ' | ' | |||||||||||||||||||||||||||||
Notional value (in millions) | As of September 30, | As of December 31, | Notional value (in millions) | As of December 31, | As of December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | ||||||||||||||||||||||||||||
Interest rate contracts | USD | 5,750 | USD | 5,750 | Interest rate contracts | USD | 5,750 | USD | 5,750 | ||||||||||||||||||||||
Foreign exchange contracts | EUR | 221.5 | EUR | 91.1 | Foreign exchange contracts | EUR | 91.1 | EUR | 91.1 | ||||||||||||||||||||||
Foreign exchange contracts | AUD | 215 | AUD | 115 | Foreign exchange contracts | AUD | 115 | AUD | 115 | ||||||||||||||||||||||
Foreign exchange contracts | GBP | 100 | GBP | — | Forward-starting interest rate contracts | USD | — | USD | 3,000 | ||||||||||||||||||||||
Foreign exchange contracts | CAD | 75 | CAD | — | |||||||||||||||||||||||||||
Schedule of Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | |||||||||||||||||||||||||||||
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ||||||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||||||||
(in millions) | Assets (a)(c) | Liabilities (b)(c) | (in millions) | Assets (a)(c) | Liabilities (b)(c) | ||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | Derivatives designated as hedging instruments | ||||||||||||||||||||||||||||||
Foreign exchange contracts | $ | 11.1 | $ | (29.2 | ) | Foreign exchange contract | $ | — | $ | (32.8 | ) | ||||||||||||||||||||
Derivatives not designated as hedging instruments: | Derivatives not designated as hedging instruments | ||||||||||||||||||||||||||||||
Interest rate contracts | 62.2 | (116.9 | ) | Interest rate contracts | 90.8 | (137.7 | ) | ||||||||||||||||||||||||
Foreign exchange contracts | — | (2.4 | ) | Foreign exchange contracts | 10.1 | (1.6 | ) | ||||||||||||||||||||||||
Total derivatives not designated as hedging instruments | 62.2 | (119.3 | ) | Total derivatives not designated as hedging instruments | 100.9 | (139.3 | ) | ||||||||||||||||||||||||
Total derivatives | $ | 73.3 | $ | (148.5 | ) | Total derivatives | $ | 100.9 | $ | (172.1 | ) | ||||||||||||||||||||
As of December 31, 2012 | As of December 31, 2011 | ||||||||||||||||||||||||||||||
(in millions) | Assets (a)(c) | Liabilities (b)(c) | (in millions) | Assets (a)(c) | Liabilities (b)(c) | ||||||||||||||||||||||||||
Derivative designated as hedging instrument: | Derivatives designated as hedging instruments | ||||||||||||||||||||||||||||||
Foreign exchange contract | $ | — | $ | (32.8 | ) | Interest rate contract | $ | — | $ | (12.8 | ) | ||||||||||||||||||||
Derivatives not designated as hedging instruments: | Foreign exchange contract | — | (27.1 | ) | |||||||||||||||||||||||||||
Interest rate contracts | 90.8 | (137.7 | ) | Total derivatives designated as hedging instruments | — | (39.9 | ) | ||||||||||||||||||||||||
Foreign exchange contracts | 10.1 | (1.6 | ) | ||||||||||||||||||||||||||||
Total derivatives not designated as hedging instruments | 100.9 | (139.3 | ) | Derivatives not designated as hedging instruments | |||||||||||||||||||||||||||
Total derivatives | $ | 100.9 | $ | (172.1 | ) | Interest rate contracts | $ | 65.4 | $ | (143.9 | ) | ||||||||||||||||||||
Foreign exchange contracts | 10.9 | (0.7 | ) | ||||||||||||||||||||||||||||
(a) Derivative assets are included in the “Other current assets” and “Other long-term assets” lines of the Consolidated Balance Sheets. | Forward-starting interest rate contracts | — | (11.9 | ) | |||||||||||||||||||||||||||
(b) Derivative liabilities are included in the “Other current liabilities” and “Other long-term liabilities” lines of the Consolidated Balance Sheets. | Total derivatives not designated as hedging instruments | 76.3 | (156.5 | ) | |||||||||||||||||||||||||||
(c) The Company presents all derivative balances on a gross basis, without regard to counterparty master netting agreements or similar arrangements. Of the balances included in the table above, $73.3 million of assets and $115.5 million of liabilities, net $42.2 million, as of September 30, 2013 and $100.9 million of assets and $126.0 million of liabilities, net $25.1 million, as of December 31, 2012 are subject to master netting agreements with the counterparties. The terms of those agreements require that the Company net settle the outstanding positions at the option of the counterparty upon certain events of default. | Total derivatives | $ | 76.3 | $ | (196.4 | ) | |||||||||||||||||||||||||
(a) Derivative assets are included in the “Other current assets” and “Other long-term assets” lines of the Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||
(b) Derivative liabilities are included in the “Other current liabilities” and “Other long-term liabilities” lines of the Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||
(c) The Company’s policy is to present all derivative balances on a gross basis, without regard to counterparty master netting agreements or similar arrangements. | |||||||||||||||||||||||||||||||
Schedule of The Effect of Derivative Instruments on the Consolidated Statements of Operations | ' | ' | |||||||||||||||||||||||||||||
The Effect of Derivative Instruments on the Consolidated Statements of Operations | The Effect of Derivative Instruments on the Consolidated Statements of Operations | ||||||||||||||||||||||||||||||
Three months ended September 30, | Year ended December 31, | ||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
(in millions, pretax) | Interest | Foreign | Interest | Foreign | (in millions, pretax) | Interest | Foreign | Interest | Foreign | Interest | Foreign | ||||||||||||||||||||
Rate | Exchange | Rate | Exchange | Rate | Exchange | Rate | Exchange | Rate | Exchange | ||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | ||||||||||||||||||||||
Derivatives in cash flow hedging relationships: | Derivatives in cash flow hedging relationships: | ||||||||||||||||||||||||||||||
Amount of gain or (loss) reclassified from accumulated OCI into income (a) | $ | — | $ | — | $ | (37.9 | ) | $ | — | Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | — | $ | 61.3 | — | $ | (26.2 | ) | — | |||||||||||
Derivative in net investment hedging relationships: | Amount of gain or (loss) reclassified from accumulated OCI into income (a) | (114.9 | ) | — | (93.0 | ) | — | (145.7 | ) | — | |||||||||||||||||||||
Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | $ | (20.3 | ) | $ | — | $ | (3.7 | ) | Amount of gain or (loss) recognized in income (ineffective portion) (b) | — | — | (2.3 | ) | — | (6.3 | ) | — | ||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||
Amount of gain or (loss) recognized in income (b) | $ | (24.3 | ) | $ | (1.2 | ) | $ | (41.2 | ) | $ | (1.8 | ) | Derivatives in net investment hedging relationships: | ||||||||||||||||||
Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | (9.2 | ) | $ | — | (9.4 | ) | $ | — | (14.8 | ) | |||||||||||||||||||
Nine months ended September 30, | Amount of gain or (loss) recognized in income (ineffective portion) (b) | — | — | — | — | — | 0.5 | ||||||||||||||||||||||||
2013 | 2012 | Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||
(in millions, pretax) | Interest | Foreign | Interest | Foreign | Amount of gain or (loss) recognized in income (b) | $ | (89.9 | ) | (1.5 | ) | $ | 58 | 2.5 | $ | (61.6 | ) | 9.1 | ||||||||||||||
Rate | Exchange | Rate | Exchange | ||||||||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | (a) Gain (loss) is recognized in the “Interest expense” line of the Consolidated Statements of Operations. | |||||||||||||||||||||||||||
Derivatives in cash flow hedging relationships: | (b) Gain (loss) is recognized in the “Other income (expense)” line of the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||
Amount of gain or (loss) reclassified from accumulated OCI into income (a) | $ | — | $ | — | $ | (114.8 | ) | $ | — | ||||||||||||||||||||||
Derivative in net investment hedging relationships: | |||||||||||||||||||||||||||||||
Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | $ | 11.7 | $ | — | $ | (7.1 | ) | ||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||
Amount of gain or (loss) recognized in income (b) | $ | (10.1 | ) | $ | (1.2 | ) | $ | (88.4 | ) | $ | 1.6 | ||||||||||||||||||||
(a) Gain (loss) is recognized in the “Interest expense” line of the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||
(b) Gain (loss) is recognized in the “Other income (expense)” line of the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||
Summary of activity in other comprehensive income related to derivative instruments classified as cash flow hedges and as a net investment hedge | ' | ' | |||||||||||||||||||||||||||||
(in millions, after tax) | Nine months ended | Year ended December 31, | |||||||||||||||||||||||||||||
September 30, 2013 | (in millions, after tax) | 2012 | 2011 | ||||||||||||||||||||||||||||
Accumulated loss included in other comprehensive income (loss) at beginning of the period | $ | (21.1 | ) | Accumulated loss included in other comprehensive income (loss) at beginning of the period | $ | (87.6 | ) | $ | (181.3 | ) | |||||||||||||||||||||
Increase in fair value of derivative that qualifies for hedge accounting (a) | 11.5 | Less: Reclassifications into earnings from other comprehensive income (loss) | 72.2 | 60.2 | |||||||||||||||||||||||||||
Accumulated gain included in other comprehensive income (loss) at end of the period | $ | (9.6 | ) | (15.4 | ) | (121.1 | ) | ||||||||||||||||||||||||
Increase in fair value of derivatives that qualify for hedge accounting (a) | (5.7 | ) | 33.5 | ||||||||||||||||||||||||||||
(a) Gains and losses are included in “Foreign currency translation adjustment” on the Consolidated Statements of Comprehensive Income (Loss). | Accumulated loss included in other comprehensive income (loss) at end of the period | $ | (21.1 | ) | $ | (87.6 | ) | ||||||||||||||||||||||||
(a) Gains and losses are included in “Unrealized gains on hedging activities” and in “Foreign currency translation adjustment” on the Consolidated Statements of Comprehensive Income (Loss). |
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||
Fair Value Measurement | ' | ' | ||||||||||||||||||||||||||
Schedule of carrying value and estimated fair value of financial instruments | ' | ' | ||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | As of December 31, 2011 | ||||||||||||||||||||||||||
(in millions) | Carrying | Fair Value (a) | (in millions) | Carrying Value | Fair Value (a) | Carrying Value | Fair Value (a) | |||||||||||||||||||||
Value | Financial instruments: | |||||||||||||||||||||||||||
Financial instruments: | Settlement assets: | |||||||||||||||||||||||||||
Settlement assets: | Short-term investment securities | $ | 125.6 | $ | 125.6 | $ | 105.7 | $ | 105.7 | |||||||||||||||||||
Short-term investment securities | $ | 59.8 | $ | 59.8 | Long-term investment securities | $ | 54.3 | $ | 54.3 | $ | 181 | $ | 181 | |||||||||||||||
Long-term investment securities | $ | 18.6 | $ | 18.6 | Other current assets: | |||||||||||||||||||||||
Other current assets: | Derivative financial instruments | $ | 11.1 | $ | 11.1 | $ | — | $ | — | |||||||||||||||||||
Derivative financial instruments | $ | 6.7 | $ | 6.7 | Other long-term assets: | |||||||||||||||||||||||
Other long-term assets: | Long-term investment securities | $ | 0.5 | $ | 0.5 | $ | 0.5 | $ | 0.5 | |||||||||||||||||||
Long-term investment securities | $ | 0.6 | $ | 0.6 | Cost method investments | $ | 13.4 | $ | 13.4 | $ | 23.7 | $ | 23.7 | |||||||||||||||
Cost method investments | $ | 9.1 | $ | 9.1 | Derivative financial instruments | $ | 89.8 | $ | 89.8 | $ | 76.3 | $ | 76.3 | |||||||||||||||
Derivative financial instruments | $ | 66.6 | $ | 66.6 | Other current liabilities: | |||||||||||||||||||||||
Other current liabilities: | Derivative financial instruments | $ | 0.3 | $ | 0.3 | $ | 156.7 | $ | 156.7 | |||||||||||||||||||
Derivative financial instruments | $ | 21.6 | $ | 21.6 | Long-term borrowings: | |||||||||||||||||||||||
Long-term borrowings: | Long-term borrowings | $ | 22,528.90 | $ | 22,732.60 | $ | 22,521.70 | $ | 20,189.80 | |||||||||||||||||||
Long-term borrowings | $ | 22,565.10 | $ | 23,359.30 | Other long-term liabilities: | |||||||||||||||||||||||
Other long-term liabilities: | Derivative financial instruments | $ | 171.8 | $ | 171.8 | $ | 39.7 | $ | 39.7 | |||||||||||||||||||
Derivative financial instruments | $ | 126.9 | $ | 126.9 | ||||||||||||||||||||||||
(a) Represents cost for cost method investments. Refer to Note 10 of these Consolidated Financial Statements for a more detailed discussion of cost method investments. | (a) Represents cost for cost method investments. Refer to Note 5 of these Consolidated Financial Statements for a more detailed discussion of cost method investments. | |||||||||||||||||||||||||||
Schedule of financial instruments carried and measured at fair value on a recurring basis | ' | ' | ||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||||||
Fair Value Measurement Using | Fair Value Measurement Using | |||||||||||||||||||||||||||
(in millions) | Quoted prices in | Significant other | Significant | Total | (in millions) | Quoted prices in | Significant other | Significant | Total | |||||||||||||||||||
active markets | observable | unobservable | active markets | observable | unobservable | |||||||||||||||||||||||
for identical | inputs | inputs | for identical assets | inputs | inputs | |||||||||||||||||||||||
assets | (Level 2) | (Level 3) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||
(Level 1) | Assets: | |||||||||||||||||||||||||||
Assets: | Settlement assets: | |||||||||||||||||||||||||||
Settlement assets: | Student loan auction rate securities | $ | — | $ | — | $ | 38.8 | $ | 38.8 | |||||||||||||||||||
Student loan auction rate securities | $ | — | $ | — | $ | 13.6 | $ | 13.6 | Corporate bonds | — | 6.6 | — | 6.6 | |||||||||||||||
Corporate bonds | — | 6.1 | — | 6.1 | State and municipal obligations | — | 133.9 | — | 133.9 | |||||||||||||||||||
State and municipal obligations | — | 56.7 | — | 56.7 | Preferred stock | 0.6 | — | — | 0.6 | |||||||||||||||||||
Preferred stock | 2 | — | — | 2 | Total settlement assets | 0.6 | 140.5 | 38.8 | 179.9 | |||||||||||||||||||
Total settlement assets | 2 | 62.8 | 13.6 | 78.4 | ||||||||||||||||||||||||
Other current assets: | ||||||||||||||||||||||||||||
Other current assets: | Interest rate swap contracts | — | 1 | — | 1 | |||||||||||||||||||||||
Interest rate swap contracts | — | 6.7 | — | 6.7 | Foreign currency derivative contracts | — | 10.1 | 10.1 | ||||||||||||||||||||
Other long-term assets: | Other long-term assets: | |||||||||||||||||||||||||||
Available-for-sale securities | — | 0.6 | — | 0.6 | Available-for-sale securities | — | 0.5 | — | 0.5 | |||||||||||||||||||
Foreign currency derivative contracts | — | 11.1 | — | 11.1 | Interest rate swap contracts | — | 89.8 | — | 89.8 | |||||||||||||||||||
Interest rate swap contracts | — | 55.5 | — | 55.5 | Total assets at fair value | $ | 0.6 | $ | 241.9 | $ | 38.8 | $ | 281.3 | |||||||||||||||
Total assets at fair value | $ | 2 | $ | 136.7 | $ | 13.6 | $ | 152.3 | ||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||
Liabilities: | Other current liabilities: | |||||||||||||||||||||||||||
Other current liabilities: | Interest rate swap contracts | $ | — | $ | 0.3 | $ | — | $ | 0.3 | |||||||||||||||||||
Foreign currency derivative contracts | $ | — | $ | 21.1 | $ | — | $ | 21.1 | Other long-term liabilities: | |||||||||||||||||||
Interest rate swap contracts | — | 0.5 | — | 0.5 | Foreign currency derivative contracts | — | 34.4 | — | 34.4 | |||||||||||||||||||
Other long-term liabilities: | Interest rate swap contracts | — | 137.4 | — | 137.4 | |||||||||||||||||||||||
Foreign currency derivative contracts | — | 10.5 | — | 10.5 | Contingent consideration | — | — | 20 | 20 | |||||||||||||||||||
Interest rate swap contracts | — | 116.4 | — | 116.4 | Total liabilities at fair value | $ | — | $ | 172.1 | $ | 20 | $ | 192.1 | |||||||||||||||
Contingent consideration | — | — | 20 | 20 | ||||||||||||||||||||||||
Total liabilities at fair value | $ | — | $ | 148.5 | $ | 20 | $ | 168.5 | As of December 31, 2011 | |||||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||||||||||||||
As of December 31, 2012 | (in millions) | Quoted prices in | Significant other | Significant | Total | |||||||||||||||||||||||
Fair Value Measurement Using | active markets | observable | unobservable | |||||||||||||||||||||||||
(in millions) | Quoted prices in | Significant other | Significant | Total | for identical assets | inputs | inputs | |||||||||||||||||||||
active markets | observable | unobservable | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||
for identical | inputs | inputs | Assets: | |||||||||||||||||||||||||
assets | (Level 2) | (Level 3) | Settlement assets: | |||||||||||||||||||||||||
(Level 1) | Student loan auction rate securities | $ | — | $ | — | $ | 170.5 | $ | 170.5 | |||||||||||||||||||
Assets: | Corporate bonds | — | 10.2 | — | 10.2 | |||||||||||||||||||||||
Settlement assets: | State and municipal obligations | — | 95.5 | — | 95.5 | |||||||||||||||||||||||
Student loan auction rate securities | $ | — | $ | — | $ | 38.8 | $ | 38.8 | U.S. Government guaranteed agency securities | — | 10 | — | 10 | |||||||||||||||
Corporate bonds | — | 6.6 | — | 6.6 | Preferred stock | 0.5 | — | — | 0.5 | |||||||||||||||||||
State and municipal obligations | — | 133.9 | — | 133.9 | Total settlement assets | 0.5 | 115.7 | 170.5 | 286.7 | |||||||||||||||||||
Preferred stock | 0.6 | — | — | 0.6 | ||||||||||||||||||||||||
Total settlement assets | 0.6 | 140.5 | 38.8 | 179.9 | Other long-term assets: | |||||||||||||||||||||||
Available-for-sale securities | — | 0.5 | — | 0.5 | ||||||||||||||||||||||||
Other current assets: | Interest rate swap contracts | — | 65.4 | — | 65.4 | |||||||||||||||||||||||
Interest rate swap contracts | — | 1 | — | 1 | Foreign currency derivative contracts | — | 10.9 | — | 10.9 | |||||||||||||||||||
Foreign currency derivative contracts | — | 10.1 | — | 10.1 | Total other long-term assets | — | 76.8 | — | 76.8 | |||||||||||||||||||
Other long-term assets: | Total assets at fair value | $ | 0.5 | $ | 192.5 | $ | 170.5 | $ | 363.5 | |||||||||||||||||||
Available-for-sale securities | — | 0.5 | — | 0.5 | ||||||||||||||||||||||||
Interest rate swap contracts | — | 89.8 | — | 89.8 | Liabilities: | |||||||||||||||||||||||
Total assets at fair value | $ | 0.6 | $ | 241.9 | $ | 38.8 | $ | 281.3 | Other current liabilities: | |||||||||||||||||||
Interest rate swap contracts | $ | — | $ | 156.7 | $ | — | $ | 156.7 | ||||||||||||||||||||
Liabilities: | Other long-term liabilities: | |||||||||||||||||||||||||||
Other current liabilities: | Foreign currency derivative contracts | — | 27.8 | — | 27.8 | |||||||||||||||||||||||
Interest rate swap contracts | $ | — | $ | 0.3 | $ | — | $ | 0.3 | Forward-starting interest rate contracts | — | 11.9 | — | 11.9 | |||||||||||||||
Other long-term liabilities: | Total liabilities at fair value | $ | — | $ | 196.4 | $ | — | $ | 196.4 | |||||||||||||||||||
Foreign currency derivative contracts | — | 34.4 | — | 34.4 | ||||||||||||||||||||||||
Interest rate swap contracts | — | 137.4 | — | 137.4 | ||||||||||||||||||||||||
Contingent consideration | — | — | 20 | 20 | ||||||||||||||||||||||||
Total liabilities at fair value | $ | — | $ | 172.1 | $ | 20 | $ | 192.1 | ||||||||||||||||||||
Schedule of reconciliation of level 3 financial instruments | ' | ' | ||||||||||||||||||||||||||
(in millions) | Fair Value Measurement | (in millions) | Fair Value Measurement | |||||||||||||||||||||||||
Using Significant Unobservable Inputs | Using Significant | |||||||||||||||||||||||||||
(Level 3) | Unobservable Inputs | |||||||||||||||||||||||||||
Student loan auction rate securities | (Level 3) | |||||||||||||||||||||||||||
Beginning balance as of January 1, 2013 | $ | 38.8 | Student loan auction rate | |||||||||||||||||||||||||
Total realized gains included in product sales and other | 1.3 | securities | ||||||||||||||||||||||||||
Total unrealized losses included in other comprehensive income | (0.4 | ) | Beginning balance as of January 1, 2011 | $ | 341.1 | |||||||||||||||||||||||
Sales | (26.1 | ) | Total gains or losses (realized or unrealized): | |||||||||||||||||||||||||
Ending balance as of September 30, 2013 | $ | 13.6 | Included in other comprehensive income | 1.2 | ||||||||||||||||||||||||
Included in product sales and other (a) | (4.5 | ) | ||||||||||||||||||||||||||
Sales | (158.4 | ) | ||||||||||||||||||||||||||
Settlements | (8.9 | ) | ||||||||||||||||||||||||||
Transfers in (out) of Level 3 | — | |||||||||||||||||||||||||||
Ending balance as of December 31, 2011 | 170.5 | |||||||||||||||||||||||||||
Total realized gains included in product sales and other | 4.4 | |||||||||||||||||||||||||||
Sales | (135.6 | ) | ||||||||||||||||||||||||||
Settlements | (0.5 | ) | ||||||||||||||||||||||||||
Transfers in (out) of Level 3 | — | |||||||||||||||||||||||||||
Ending balance as of December 31, 2012 | $ | 38.8 | ||||||||||||||||||||||||||
(a) Includes impairments of $5.2 million for the year ended December 31, 2011. | ||||||||||||||||||||||||||||
Schedule of reconciliation of level 3 financial instruments related to contingent consideration | ' | ' | ||||||||||||||||||||||||||
(in millions) | Fair Value Measurement | Fair Value Measurement | ||||||||||||||||||||||||||
Using Significant | (in millions) | Using Significant | ||||||||||||||||||||||||||
Unobservable Inputs | Unobservable Inputs | |||||||||||||||||||||||||||
(Level 3) | (Level 3) | |||||||||||||||||||||||||||
Contingent consideration | Contingent consideration | |||||||||||||||||||||||||||
Beginning balance as of January 1, 2013 | $ | 20 | Beginning balance as of January 1, 2012 | $ | — | |||||||||||||||||||||||
Contingent consideration payments | — | Initial estimate of contingent consideration | 20 | |||||||||||||||||||||||||
Change in fair value of contingent consideration | — | Contingent consideration payments | — | |||||||||||||||||||||||||
Ending balance as of September 30, 2013 | $ | 20 | Change in fair value of contingent consideration | — | ||||||||||||||||||||||||
Ending balance as of December 31, 2012 | $ | 20 |
Borrowings_Tables
Borrowings (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2012 | ||||||||||||||||||||||||
Borrowings | ' | |||||||||||||||||||||||
Schedule of borrowings | ' | |||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||
(in millions) | 2012 | 2011 | ||||||||||||||||||||||
Short-term borrowings | ||||||||||||||||||||||||
Senior secured revolving credit facility | $ | — | $ | — | ||||||||||||||||||||
Foreign lines of credit and other arrangements | 177.2 | 76.4 | ||||||||||||||||||||||
Total short-term borrowings | 177.2 | 76.4 | ||||||||||||||||||||||
Current portion of long-term borrowings (a): | ||||||||||||||||||||||||
4.70% Unsecured notes due 2013, net of unamortized discount of $0.4 | 14.7 | — | ||||||||||||||||||||||
Capital lease obligations | 65.2 | 57 | ||||||||||||||||||||||
Total current portion of long-term borrowings | 79.9 | 57 | ||||||||||||||||||||||
Long-term borrowings (a): | ||||||||||||||||||||||||
Senior secured term loan facility due 2014, net of unamortized discount of $1.3 and $9.8 | 253.9 | 6,554.90 | ||||||||||||||||||||||
Senior secured term loan facility due 2017, net of unamortized discount of $12.7 | 2,658.60 | — | ||||||||||||||||||||||
Senior secured term loan facility due March 2018, net of unamortized discount of $27.3 and $27.2 | 4,633.30 | 4,626.20 | ||||||||||||||||||||||
Senior secured term loan facility due September 2018, net of unamortized discount of $21.4 | 728.6 | — | ||||||||||||||||||||||
7.375% Senior secured first lien notes due 2019, net of unamortized discount of $27.0 and $15.0 | 1,568.00 | 735 | ||||||||||||||||||||||
8.875% Senior secured first lien notes due 2020, net of unamortized discount of $13.6 and $15.4 | 496.4 | 494.6 | ||||||||||||||||||||||
6.75% Senior secured first lien notes due 2020, net of unamortized discount of $29.4 | 2,120.60 | — | ||||||||||||||||||||||
8.25% Senior secured second lien notes due 2021, net of unamortized discount of $14.3 and $16.1 | 1,985.40 | 1,983.60 | ||||||||||||||||||||||
8.75%/10.00% PIK toggle senior secured second lien notes due 2022 (b), net of unamortized discount of $7.3 and $8.1 | 992.7 | 991.9 | ||||||||||||||||||||||
12.625% Senior unsecured notes due 2021, net of unamortized discount of $21.5 and $24.2 | 2,978.50 | 2,975.80 | ||||||||||||||||||||||
9.875% Senior unsecured notes due 2015 | 783.5 | 783.5 | ||||||||||||||||||||||
10.55% Senior unsecured notes due 2015 (previously senior PIK notes (b)) | 748.4 | 748.4 | ||||||||||||||||||||||
11.25% Senior unsecured subordinated notes due 2016 | 2,500.00 | 2,500.00 | ||||||||||||||||||||||
4.70% Unsecured notes due 2013, net of unamortized discount of $1.1 | — | 14 | ||||||||||||||||||||||
4.85% Unsecured notes due 2014, net of unamortized discount of $0.3 and $0.5 | 3.5 | 3.3 | ||||||||||||||||||||||
4.95% Unsecured notes due 2015, net of unamortized discount of $1.0 and $1.5 | 8.8 | 8.3 | ||||||||||||||||||||||
Capital lease obligations | 68.7 | 102.2 | ||||||||||||||||||||||
Total long-term borrowings | 22,528.90 | 22,521.70 | ||||||||||||||||||||||
Total borrowings | $ | 22,786.00 | $ | 22,655.10 | ||||||||||||||||||||
(a) Unamortized discount amounts are as of December 31, 2012 and 2011, respectively. | ||||||||||||||||||||||||
(b) Payment In-Kind (“PIK”) | ||||||||||||||||||||||||
Schedule of interest payable based upon LIBOR or euro LIBOR plus an applicable margin | ' | |||||||||||||||||||||||
U.S. dollar-denominated term loan | Euro-denominated term loan (U.S. dollar equivalent) | Totals | ||||||||||||||||||||||
As of December 31, | As of December 31, | As of December 31, | ||||||||||||||||||||||
(in millions) | 2012 | 2011 | Rate | 2012 | 2011 | Rate | 2012 | 2011 | ||||||||||||||||
Due September 24, 2014 | $ | 130.7 | $ | 6,154.20 | LIBOR + 275 bps | $ | 123.2 | $ | 400.7 | euro LIBOR + 275 bps | $ | 253.9 | $ | 6,554.90 | ||||||||||
Due March 24, 2017 | $ | 2,424.20 | LIBOR + 500 bps | $ | 234.4 | euro LIBOR + 500 bps | $ | 2,658.60 | ||||||||||||||||
Due March 24, 2018 | $ | 4,225.10 | $ | 4,225.30 | LIBOR + 400 bps | $ | 408.2 | $ | 400.9 | euro LIBOR + 400 bps | $ | 4,633.30 | $ | 4,626.20 | ||||||||||
Due September 24, 2018 | $ | 728.6 | LIBOR + 500 bps | $ | 728.6 | |||||||||||||||||||
Schedule of future aggregate annual maturities of long-term debt | ' | |||||||||||||||||||||||
Year ended December 31, | Par Amount | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||
2013 | $ | 80.3 | ||||||||||||||||||||||
2014 | 294 | |||||||||||||||||||||||
2015 | 1,568.00 | |||||||||||||||||||||||
2016 | 2,506.60 | |||||||||||||||||||||||
2017 | 2,672.00 | |||||||||||||||||||||||
Thereafter | 15,665.40 | |||||||||||||||||||||||
Supplemental_Financial_Informa1
Supplemental Financial Information (Tables) | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
Supplemental Financial Information | ' | ' | |||||||||||||||||||||||
Schedule of the components of other income (expense) | ' | ' | |||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | |||||||||||||||||||||||
September 30, | September 30, | (in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Investment (losses) and gains | $ | (7.7 | ) | $ | — | $ | 2.5 | |||||||||||||
Investment (losses) and gains | $ | — | $ | (8.1 | ) | $ | 2.3 | $ | (7.8 | ) | Derivative financial instruments (losses) and gains | (91.4 | ) | 58.2 | (58.3 | ) | |||||||||
Derivative financial instruments losses | (25.5 | ) | (43.0 | ) | (11.3 | ) | (86.8 | ) | Divestitures, net | — | 57.4 | 18.7 | |||||||||||||
Divestitures, net | 2.3 | — | 2.3 | — | Non-operating foreign currency gains | 4.8 | 5.3 | 21.2 | |||||||||||||||||
Non-operating foreign currency (losses) and gains | (13.0 | ) | (0.9 | ) | (14.2 | ) | 11.8 | Other | — | 3.2 | — | ||||||||||||||
Other income (expense) | $ | (36.2 | ) | $ | (52.0 | ) | $ | (20.9 | ) | $ | (82.8 | ) | Other income (expense) | $ | (94.3 | ) | $ | 124.1 | $ | (15.9 | ) | ||||
Schedule of supplemental balance sheet information | ' | ' | |||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
(in millions) | 2012 | 2011 | |||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Accounts receivable: | |||||||||||||||||||||||||
Customers | $ | 1,713.80 | $ | 1,682.80 | |||||||||||||||||||||
Due from unconsolidated merchant alliances | 37 | 36.8 | |||||||||||||||||||||||
Leasing receivables | 99.8 | 93.1 | |||||||||||||||||||||||
Interest and other receivables | 30.4 | 54 | |||||||||||||||||||||||
1,881.00 | 1,866.70 | ||||||||||||||||||||||||
Less allowance for doubtful accounts-other receivables | (29.9 | ) | (14.2 | ) | |||||||||||||||||||||
Less allowance for doubtful accounts-leasing receivables | (3.4 | ) | (3.9 | ) | |||||||||||||||||||||
$ | 1,847.70 | $ | 1,848.60 | ||||||||||||||||||||||
Other current assets: | |||||||||||||||||||||||||
Prepaid expenses | $ | 92 | $ | 113.5 | |||||||||||||||||||||
Inventory | 72.2 | 89.3 | |||||||||||||||||||||||
Deferred and other income tax assets | 78.3 | 120.1 | |||||||||||||||||||||||
Derivative financial instruments | 11.1 | — | |||||||||||||||||||||||
$ | 253.6 | $ | 322.9 | ||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
(in millions) | 2012 | 2011 | |||||||||||||||||||||||
Property and equipment: | |||||||||||||||||||||||||
Land | $ | 88.6 | $ | 95.8 | |||||||||||||||||||||
Buildings | 319.4 | 322.2 | |||||||||||||||||||||||
Leasehold improvements | 51.9 | 56.1 | |||||||||||||||||||||||
Equipment and furniture | 1,103.40 | 1,026.20 | |||||||||||||||||||||||
Equipment under capital lease | 316.8 | 278.5 | |||||||||||||||||||||||
1,880.10 | 1,778.80 | ||||||||||||||||||||||||
Less accumulated depreciation | (1,024.3 | ) | (842.9 | ) | |||||||||||||||||||||
$ | 855.8 | $ | 935.9 | ||||||||||||||||||||||
Other long-term assets: | |||||||||||||||||||||||||
Accounts receivable, net of allowance for doubtful accounts of $2.1(2012) | $ | 180.7 | $ | 160.3 | |||||||||||||||||||||
Leasing Receivables, net of allowance for doubtful accounts of $10.6 (2012) and $10.3 (2011) | 277.7 | 257.6 | |||||||||||||||||||||||
Investments | 13.9 | 24.2 | |||||||||||||||||||||||
Regulatory and escrowed cash | 5.1 | 13.9 | |||||||||||||||||||||||
Derivative financial instruments | 89.8 | 76.3 | |||||||||||||||||||||||
Deferred financing costs, net of amortization | 218.2 | 269.8 | |||||||||||||||||||||||
Deferred income tax assets | 10.4 | 10.5 | |||||||||||||||||||||||
Pension assets | — | 13.7 | |||||||||||||||||||||||
Other | 29.2 | 17.8 | |||||||||||||||||||||||
$ | 825 | $ | 844.1 | ||||||||||||||||||||||
Other current liabilities: | |||||||||||||||||||||||||
Accrued interest expense | $ | 496 | $ | 439.5 | |||||||||||||||||||||
Other accrued expenses | 554.8 | 537.5 | |||||||||||||||||||||||
Compensation and benefit liabilities | 307.2 | 284.6 | |||||||||||||||||||||||
Derivative financial instruments | 0.3 | 156.7 | |||||||||||||||||||||||
Due to unconsolidated merchant alliances | 8.7 | 6.9 | |||||||||||||||||||||||
Other | 233.6 | 217.9 | |||||||||||||||||||||||
$ | 1,600.60 | $ | 1,643.10 | ||||||||||||||||||||||
Other long-term liabilities: | |||||||||||||||||||||||||
Pension obligations | $ | 103.3 | $ | 91.1 | |||||||||||||||||||||
Derivative financial instruments | 171.8 | 39.7 | |||||||||||||||||||||||
Income taxes payable | 353 | 475.6 | |||||||||||||||||||||||
Other | 193.8 | 157.2 | |||||||||||||||||||||||
$ | 821.9 | $ | 763.6 | ||||||||||||||||||||||
Summary of supplemental cash flow information | ' | ' | |||||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Income tax payments, net of refunds received | $ | 70.1 | $ | 67.2 | $ | 100.5 | |||||||||||||||||||
Interest paid | $ | 1,793.90 | $ | 1,458.20 | $ | 1,494.90 | |||||||||||||||||||
Distributions received from equity method investments | $ | 244.5 | $ | 194.8 | $ | 194.1 | |||||||||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2012 | |||||
Commitments and Contingencies | ' | ||||
Schedule of amounts associated with total rent expense for operating leases | ' | ||||
Year ended December 31, | Amount | ||||
(in millions) | |||||
2012 | $ | 72.4 | |||
2011 | 81.3 | ||||
2010 | 83.7 | ||||
Schedule of future minimum aggregate rental commitments due under all noncancelable operating leases, net of sublease income | ' | ||||
Year ended December 31, | Amount | ||||
(in millions) | |||||
2013 | $ | 57.3 | |||
2014 | 47.1 | ||||
2015 | 37.8 | ||||
2016 | 34.4 | ||||
2017 | 26.8 | ||||
Thereafter | 89.9 | ||||
First_Data_Corporation_Stockho1
First Data Corporation Stockholder's Equity and Redeemable Noncontrolling Interests (Tables) | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
First Data Corporation Stockholder's Equity and Redeemable Noncontrolling Interests | ' | ' | |||||||||||||||||||||||
Schedule of income tax effects allocated to and the cumulative balance of each component of OCI | ' | ' | |||||||||||||||||||||||
(in millions) | Beginning | Pretax | Tax | Net-of- | Ending | ||||||||||||||||||||
Balance | Gain | (Benefit) | Tax | Balance | |||||||||||||||||||||
(Loss) | Expense | Amount | |||||||||||||||||||||||
Amount | |||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||
Unrealized gains (losses) on securities | $ | 0.9 | $ | 0.3 | $ | 0.1 | $ | 0.2 | $ | 1.1 | |||||||||||||||
Unrealized gains (losses) on hedging activities | (72.2 | ) | 114.9 | 42.7 | 72.2 | — | |||||||||||||||||||
Foreign currency translation adjustment | (438.3 | ) | 28.4 | 16 | 12.4 | (425.9 | ) | ||||||||||||||||||
Pension liability adjustments | (88.8 | ) | (61.8 | ) | (23.2 | ) | (38.6 | ) | (127.4 | ) | |||||||||||||||
$ | (598.4 | ) | $ | 81.8 | $ | 35.6 | $ | 46.2 | $ | (552.2 | ) | ||||||||||||||
As of December 31, 2011 | |||||||||||||||||||||||||
Unrealized gains (losses) on securities | $ | 0.1 | $ | 1.3 | $ | 0.5 | $ | 0.8 | $ | 0.9 | |||||||||||||||
Unrealized gains (losses) on hedging activities | (171.8 | ) | 158.6 | 59 | 99.6 | (72.2 | ) | ||||||||||||||||||
Foreign currency translation adjustment | (400.3 | ) | (79.0 | ) | (41.0 | ) | (38.0 | ) | (438.3 | ) | |||||||||||||||
Pension liability adjustments | (64.9 | ) | (38.8 | ) | (14.9 | ) | (23.9 | ) | (88.8 | ) | |||||||||||||||
$ | (636.9 | ) | $ | 42.1 | $ | 3.6 | $ | 38.5 | $ | (598.4 | ) | ||||||||||||||
As of December 31, 2010 | |||||||||||||||||||||||||
Unrealized gains (losses) on securities | $ | (27.4 | ) | $ | 44 | $ | 16.5 | $ | 27.5 | $ | 0.1 | ||||||||||||||
Unrealized gains (losses) on hedging activities | (242.1 | ) | 115.2 | 44.9 | 70.3 | (171.8 | ) | ||||||||||||||||||
Foreign currency translation adjustment | (318.8 | ) | (65.5 | ) | 16 | (81.5 | ) | (400.3 | ) | ||||||||||||||||
Pension liability adjustments | (93.4 | ) | 44.9 | 16.4 | 28.5 | (64.9 | ) | ||||||||||||||||||
$ | (681.7 | ) | $ | 138.6 | $ | 93.8 | $ | 44.8 | $ | (636.9 | ) | ||||||||||||||
Schedule of the effects of changes in the entity's ownership interest in BAMS alliance on the entity's equity | ' | ' | |||||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Net loss attributable to FDC | $ | (700.9 | ) | $ | (516.1 | ) | $ | (1,021.8 | ) | ||||||||||||||||
Transfers from noncontrolling interests: | |||||||||||||||||||||||||
Decrease in FDC’s paid-in capital for loss recognized from purchase of noncontrolling interest, including tax effect | (46.1 | ) | — | (7.5 | ) | ||||||||||||||||||||
Change in net loss attributable to FDC and transfers from noncontrolling interests | $ | (747.0 | ) | $ | (516.1 | ) | $ | (1,029.3 | ) | ||||||||||||||||
Summary of the redeemable noncontrolling interest activity | ' | ' | |||||||||||||||||||||||
(in millions) | 2013 | 2012 | (in millions) | Redeemable | |||||||||||||||||||||
Balance as of January 1, | $ | 67.4 | $ | 67.4 | Noncontrolling | ||||||||||||||||||||
Distributions | (26.0 | ) | (27.4 | ) | Interest | ||||||||||||||||||||
Share of income | 24.6 | 26.6 | Balance as of January 1, 2011 | $ | 28.1 | ||||||||||||||||||||
Adjustment to redemption value of redeemable noncontrolling interest | 2 | — | Distributions | (31.2 | ) | ||||||||||||||||||||
Other | (0.1 | ) | — | Share of income | 32 | ||||||||||||||||||||
Balance as of September 30, | $ | 67.9 | $ | 66.6 | Adjustment to redemption value of redeemable noncontrolling interest | 38.6 | |||||||||||||||||||
Other | (0.1 | ) | |||||||||||||||||||||||
Balance as of December 31, 2011 | 67.4 | ||||||||||||||||||||||||
Distributions | (36.0 | ) | |||||||||||||||||||||||
Share of income | 36 | ||||||||||||||||||||||||
Balance as of December 31, 2012 | $ | 67.4 |
Stock_Compensation_Plans_Table
Stock Compensation Plans (Tables) | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
Stock Compensation Plans | ' | ' | |||||||||||||||||||||||
Schedule of stock-based compensation expense recognized in the selling, general and administrative line item of the consolidated statements of operations | ' | ' | |||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | Amount | ||||||||||||||||||||||
September 30, | September 30, | (in millions) | |||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | 2012 | $ | 12.4 | ||||||||||||||||||
Total stock-based compensation expense (pretax) | $ | 5.5 | $ | 3.6 | $ | 37.1 | $ | 10.9 | 2011 | 17.6 | |||||||||||||||
2010 | 17.1 | ||||||||||||||||||||||||
Schedule of weighted-average assumptions for estimating fair value of stock options granted | ' | ' | |||||||||||||||||||||||
Nine months ended | Year ended December 31, | ||||||||||||||||||||||||
September 30, 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Risk-free interest rate | 1.38 | % | Risk-free interest rate | 1.45 | % | 2.86 | % | 3.03 | % | ||||||||||||||||
Dividend yield | — | Dividend yield | — | — | — | ||||||||||||||||||||
Volatility | 56.64 | % | Volatility | 51.77 | % | 54.65 | % | 51.4 | % | ||||||||||||||||
Expected term (in years) | 7 | Expected term (in years) | 7 | 7 | 7 | ||||||||||||||||||||
Fair value of stock | $ | 3.5 | Fair value of stock (a) | $ | 3 | $ | 3 | $ | 3 | ||||||||||||||||
Fair value of options | $ | 1.99 | Fair value of options | $ | 1.6 | $ | 1.73 | $ | 1.66 | ||||||||||||||||
(a) The fair value of the stock increased from $3.00 to $3.50 effective March 31, 2012. | |||||||||||||||||||||||||
Summary of stock option activity | ' | ' | |||||||||||||||||||||||
(options in millions) | Options | Weighted-Average | (options in millions) | Options | Weighted-Average | Weighted-Average | |||||||||||||||||||
Exercise Price | Exercise Price | Remaining | |||||||||||||||||||||||
Outstanding at January 1, 2013 | 77.6 | $ | 3 | Contractual | |||||||||||||||||||||
Granted | 50.2 | $ | 3.5 | Term | |||||||||||||||||||||
Exercised | (5.5 | ) | $ | 3 | Outstanding as of January 1, 2012 | 73 | $ | 3 | |||||||||||||||||
Cancelled / Forfeited | (8.3 | ) | $ | 3.02 | Granted | 8 | $ | 3 | |||||||||||||||||
Outstanding at September 30, 2013 | 114 | $ | 3.22 | Exercised | (0.4 | ) | $ | 3.5 | |||||||||||||||||
Options exercisable as of September 30, 2013 | 30.3 | $ | 3.02 | Cancelled / Forfeited | (3.0 | ) | $ | 3 | |||||||||||||||||
Outstanding as of December 31, 2012 | 77.6 | $ | 3 | 7 years | |||||||||||||||||||||
Options exercisable as of December 31, 2012 | 27.5 | $ | 3 | 6 years | |||||||||||||||||||||
Summary of restricted stock award and restricted stock unit activity | ' | ' | |||||||||||||||||||||||
(awards/units in millions) | Awards/Units | Weighted-Average | (awards/units in millions) | Awards/Units | Weighted-Average | ||||||||||||||||||||
Grant-Date Fair | Grant-Date Fair Value | ||||||||||||||||||||||||
Value | Non-vested as of January 1, 2012 | 10.9 | $ | 3.14 | |||||||||||||||||||||
Non-vested at January 1, 2013 | 13.6 | $ | 3 | Granted | 4 | $ | 3 | ||||||||||||||||||
Granted | 9.6 | $ | 3.5 | Vested | (0.7 | ) | $ | 4.74 | |||||||||||||||||
Vested | (3.1 | ) | $ | 3.23 | Cancelled / Forfeited | (0.6 | ) | $ | 3.16 | ||||||||||||||||
Cancelled / Forfeited | (1.1 | ) | $ | 3.02 | Non-vested as of December 31, 2012 | 13.6 | $ | 3 | |||||||||||||||||
Non-vested at September 30, 2013 | 19 | $ | 3.21 |
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||
Employee Benefit Plans | ' | ' | ||||||||||||||||||||||||||
Schedule of aggregate amounts charged to expense | ' | ' | ||||||||||||||||||||||||||
Year ended December 31, | Amount | |||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
2012 | $ | 45.2 | ||||||||||||||||||||||||||
2011 | 42.7 | |||||||||||||||||||||||||||
2010 | 41.1 | |||||||||||||||||||||||||||
Schedule of reconciliation of the changes in the plans' projected benefit obligations and fair value of assets as well as a statement of the funded status | ' | ' | ||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | ||||||||||||||||||||||||||
Change in benefit obligation | ||||||||||||||||||||||||||||
Benefit obligation at beginning of period | $ | 798.5 | $ | 725.9 | ||||||||||||||||||||||||
Service costs | 5 | 6.1 | ||||||||||||||||||||||||||
Interest costs | 37.7 | 39.8 | ||||||||||||||||||||||||||
U.K. plan benefit reinstatement | — | 10.9 | ||||||||||||||||||||||||||
Actuarial (gain)/loss | 79 | 35.7 | ||||||||||||||||||||||||||
Termination benefits (a) | 0.1 | 0.9 | ||||||||||||||||||||||||||
Benefits paid | (29.8 | ) | (27.5 | ) | ||||||||||||||||||||||||
Foreign currency translation | 18.6 | 6.7 | ||||||||||||||||||||||||||
Benefit obligation at end of period | 909.1 | 798.5 | ||||||||||||||||||||||||||
Change in plan assets | ||||||||||||||||||||||||||||
Fair value of plan assets at the beginning of period | 721.1 | 656.3 | ||||||||||||||||||||||||||
Actual return on plan assets | 61 | 53.9 | ||||||||||||||||||||||||||
Company contributions | 31.6 | 29.9 | ||||||||||||||||||||||||||
Benefits paid | (26.4 | ) | (25.7 | ) | ||||||||||||||||||||||||
Foreign currency translation | 18.5 | 6.7 | ||||||||||||||||||||||||||
Fair value of plan assets at end of period | 805.8 | 721.1 | ||||||||||||||||||||||||||
Funded status of the plans | $ | (103.3 | ) | $ | (77.4 | ) | ||||||||||||||||||||||
(a) Related to restructuring activities in Europe. | ||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | ||||||||||||||||||||||||||
U.K. plan: | ||||||||||||||||||||||||||||
Plan benefit obligations | $ | (659.5 | ) | $ | (574.7 | ) | ||||||||||||||||||||||
Fair value of plan assets | 658.3 | 588.4 | ||||||||||||||||||||||||||
Net pension (liabilities) assets (a) (b) | (1.2 | ) | 13.7 | |||||||||||||||||||||||||
U.S. and other foreign plans: | ||||||||||||||||||||||||||||
Plan benefit obligations | (249.6 | ) | (223.8 | ) | ||||||||||||||||||||||||
Fair value of plan assets | 147.5 | 132.7 | ||||||||||||||||||||||||||
Net pension liabilities (b) | $ | (102.1 | ) | $ | (91.1 | ) | ||||||||||||||||||||||
Funded status of the plans | $ | (103.3 | ) | $ | (77.4 | ) | ||||||||||||||||||||||
(a) Pension assets are included in the “Other long-term assets” line of the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
(b) Pension liabilities are included in the “Other long-term liabilities” line of the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
Summary of activity in other comprehensive income, net of tax | ' | ' | ||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
Total unrecognized gain/(loss) included in other comprehensive income at the beginning of period | $ | (88.8 | ) | $ | (64.9 | ) | $ | (93.4 | ) | |||||||||||||||||||
Unrecognized gain/(loss) arising during the period | (39.9 | ) | (17.7 | ) | 27.1 | |||||||||||||||||||||||
U.K. plan benefit reinstatement | — | (7.0 | ) | — | ||||||||||||||||||||||||
Amortization of deferred gains/(losses) to net periodic benefit expense (a) | 1.3 | 0.8 | 1.4 | |||||||||||||||||||||||||
Total unrecognized gain/(loss) included in other comprehensive income at end of period | $ | (127.4 | ) | $ | (88.8 | ) | $ | (64.9 | ) | |||||||||||||||||||
(a) Expected amortization of deferred losses to net periodic benefit expense in 2013 is $4.0 million pretax. | ||||||||||||||||||||||||||||
Schedule of the components of net periodic benefit cost for the plans | ' | ' | ||||||||||||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Year ended December 31, | |||||||||||||||||||||||
Service costs | $ | 0.6 | $ | 0.7 | $ | 1.9 | $ | 2.1 | (in millions) | 2012 | 2011 | 2010 | ||||||||||||||||
Interest costs | 9.3 | 9.3 | 28 | 27.8 | Service costs | $ | 5 | $ | 6.1 | $ | 3.1 | |||||||||||||||||
Expected return on plan assets | (10.9 | ) | (11.1 | ) | (32.8 | ) | (33.4 | ) | Interest costs | 37.7 | 39.8 | 40 | ||||||||||||||||
Amortization | 0.9 | 0.4 | 2.7 | 1.3 | Expected return on plan assets | (44.7 | ) | (46.5 | ) | (40.4 | ) | |||||||||||||||||
Net periodic benefit expense (income) | $ | (0.1 | ) | $ | (0.7 | ) | $ | (0.2 | ) | $ | (2.2 | ) | Amortization | 2.1 | 1.3 | 2.2 | ||||||||||||
Net periodic benefit expense | $ | 0.1 | $ | 0.7 | $ | 4.9 | ||||||||||||||||||||||
Schedule of weighted-average rate assumptions used in the measurement of the Company's benefit obligations | ' | ' | ||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||||
Discount rate | 4.29 | % | 4.75 | % | 5.4 | % | ||||||||||||||||||||||
Rate of compensation increase (a) | 3.95 | % | 3.77 | % | 4 | % | ||||||||||||||||||||||
(a) The rate of compensation increases generally apply to active plans. | ||||||||||||||||||||||||||||
Schedule of weighted-average rate assumptions used in the measurement of the Company's net cost | ' | ' | ||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||||
Discount rate | 4.71 | % | 5.21 | % | 5.55 | % | ||||||||||||||||||||||
Expected long-term return on plan assets | 6.11 | % | 6.83 | % | 6.86 | % | ||||||||||||||||||||||
Rate of compensation increase (a) | 3.6 | % | 4.24 | % | 4 | % | ||||||||||||||||||||||
(a) The rate of compensation increases generally apply to active plans. | ||||||||||||||||||||||||||||
Schedule of pension plan target asset allocation, based on the investment policy | ' | ' | ||||||||||||||||||||||||||
Target | Target | |||||||||||||||||||||||||||
allocation | allocation | |||||||||||||||||||||||||||
Asset Category | U.S. plans | Foreign plans | ||||||||||||||||||||||||||
Equity securities | 40 | % | 60 | % | ||||||||||||||||||||||||
Debt securities | 60 | % | 40 | % | ||||||||||||||||||||||||
Schedule of financial instruments included in plan assets carried and measured at fair value on a recurring basis | ' | ' | ||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||||||||||||||
(in millions) | Quoted prices in | Significant other | Significant | Total | ||||||||||||||||||||||||
active markets | observable | unobservable | ||||||||||||||||||||||||||
for identical assets | inputs | inputs | ||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
Investments: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 0.6 | $ | — | $ | — | $ | 0.6 | ||||||||||||||||||||
Registered investment companies: | ||||||||||||||||||||||||||||
Cash management fund | 1.8 | — | — | 1.8 | ||||||||||||||||||||||||
Equity funds | 58.8 | — | — | 58.8 | ||||||||||||||||||||||||
Fixed income securities | — | 42.6 | — | 42.6 | ||||||||||||||||||||||||
Private investment funds—redeemable (a) | — | 698.6 | — | 698.6 | ||||||||||||||||||||||||
Private investment funds—non-redeemable | — | — | 0.1 | 0.1 | ||||||||||||||||||||||||
Insurance annuity contracts | — | — | 3.3 | 3.3 | ||||||||||||||||||||||||
Total investments at fair value | $ | 61.2 | $ | 741.2 | $ | 3.4 | $ | 805.8 | ||||||||||||||||||||
(a) 42% of portfolio is invested in equity index funds, 57% in fixed income investments and 1% in other investments. | ||||||||||||||||||||||||||||
As of December 31, 2011 | ||||||||||||||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||||||||||||||
(in millions) | Quoted prices in | Significant other | Significant | Total | ||||||||||||||||||||||||
active markets | observable | unobservable | ||||||||||||||||||||||||||
for identical assets | inputs | inputs | ||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
Investments: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 3.2 | $ | — | $ | — | $ | 3.2 | ||||||||||||||||||||
Registered investment companies: | ||||||||||||||||||||||||||||
Cash management fund | 1 | — | — | 1 | ||||||||||||||||||||||||
Equity funds | 49.1 | — | — | 49.1 | ||||||||||||||||||||||||
Fixed income funds | 14.2 | — | — | 14.2 | ||||||||||||||||||||||||
Fixed income securities | — | 35.1 | — | 35.1 | ||||||||||||||||||||||||
Private investment funds—redeemable (a) | — | 613.1 | — | 613.1 | ||||||||||||||||||||||||
Private investment funds—non- redeemable | — | — | 1 | 1 | ||||||||||||||||||||||||
Insurance annuity contracts | — | — | 4.4 | 4.4 | ||||||||||||||||||||||||
Total investments at fair value | $ | 67.5 | $ | 648.2 | $ | 5.4 | $ | 721.1 | ||||||||||||||||||||
(a) 46% of portfolio is invested in equity index funds and 54% in fixed income investments. | ||||||||||||||||||||||||||||
Schedule of fair value measurement using significant unobservable inputs (level 3) | ' | ' | ||||||||||||||||||||||||||
Fair Value Measurement Using Significant | ||||||||||||||||||||||||||||
Unobservable Inputs (Level 3) | ||||||||||||||||||||||||||||
(in millions) | Insurance | Private investment funds | ||||||||||||||||||||||||||
annuity contracts | non-redeemable | |||||||||||||||||||||||||||
Beginning balance as of January 1, 2011 | $ | 4.4 | $ | 0.3 | ||||||||||||||||||||||||
Transfer in from level 2 (a) | — | 1.4 | ||||||||||||||||||||||||||
Settlements | — | (0.7 | ) | |||||||||||||||||||||||||
Ending balance as of December 31, 2011 | 4.4 | 1 | ||||||||||||||||||||||||||
Actual return on plan assets | — | 0.1 | ||||||||||||||||||||||||||
Settlements | (1.1 | ) | (1.0 | ) | ||||||||||||||||||||||||
Ending balance as of December 31, 2012 | $ | 3.3 | $ | 0.1 | ||||||||||||||||||||||||
(a) The plans value transfers into Level 3 utilizing values as of the beginning of the period. | ||||||||||||||||||||||||||||
Schedule of estimated future benefit payments, which reflect expected future service | ' | ' | ||||||||||||||||||||||||||
Year ended December 31, | Amount | |||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
2013 | $ | 26.4 | ||||||||||||||||||||||||||
2014 | 27.3 | |||||||||||||||||||||||||||
2015 | 29.3 | |||||||||||||||||||||||||||
2016 | 32.1 | |||||||||||||||||||||||||||
2017 | 33.6 | |||||||||||||||||||||||||||
2018-2022 | 199.6 | |||||||||||||||||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
Segment Information | ' | ' | ||||||||||||||||||||||||||||||||
Schedule of operating segment results | ' | ' | ||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | (in millions) | Retail and | Financial | International | All Other and | Totals | |||||||||||||||||||||||
Alliance | Services | and | Alliance | Services | Corporate | |||||||||||||||||||||||||||||
Services | Corporate | Services | ||||||||||||||||||||||||||||||||
Revenues: | Revenues: | |||||||||||||||||||||||||||||||||
Transaction and processing service fees | $ | 819.8 | $ | 331.1 | $ | 331.4 | $ | 18.8 | $ | 1,501.10 | Transaction and processing service fees | $ | 3,198.80 | $ | 1,350.00 | $ | 1,291.20 | $ | 85.2 | $ | 5,925.20 | |||||||||||||
Product sales and other | 96.9 | 15.3 | 92.8 | 13.2 | 218.2 | Product sales and other | 404 | 40.1 | 391 | 39.8 | 874.9 | |||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 7.4 | — | 7.4 | Equity earnings in affiliates (a) | — | — | 36.2 | — | 36.2 | |||||||||||||||||||||||
Total segment reporting revenues | $ | 916.7 | $ | 346.4 | $ | 431.6 | $ | 32 | $ | 1,726.70 | Total segment reporting revenues | $ | 3,602.80 | $ | 1,390.10 | $ | 1,718.40 | $ | 125 | $ | 6,836.30 | |||||||||||||
Internal revenue | $ | 5.8 | $ | 9.1 | $ | 2.6 | $ | — | $ | 17.5 | Internal revenue | $ | 20.2 | $ | 31.5 | $ | 9.9 | $ | — | $ | 61.6 | |||||||||||||
External revenue | $ | 910.9 | $ | 337.3 | $ | 429 | $ | 32 | $ | 1,709.20 | External revenue | 3,582.60 | 1,358.60 | 1,708.50 | 125 | 6,774.70 | ||||||||||||||||||
Depreciation and amortization | $ | 114.1 | $ | 82.5 | $ | 65 | $ | 9.4 | $ | 271 | Depreciation and amortization | 520.1 | 337.2 | 282.9 | 45.1 | 1,185.30 | ||||||||||||||||||
Segment EBITDA | $ | 410.3 | $ | 162.7 | $ | 126 | $ | (71.9 | ) | $ | 627.1 | Segment EBITDA | 1,594.80 | 603.1 | 483.8 | (246.0 | ) | 2,435.70 | ||||||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | (16.8 | ) | $ | (3.5 | ) | $ | (7.3 | ) | $ | (18.7 | ) | $ | (46.3 | ) | Other operating expenses and other income (expense) excluding divestitures | (29.1 | ) | (5.1 | ) | (24.3 | ) | (64.0 | ) | (122.5 | ) | ||||||||
Expenditures for long-lived assets | 25.1 | 49.2 | 163.9 | 132.1 | 370.3 | |||||||||||||||||||||||||||||
Three months ended September 30, 2012 | Equity earnings in affiliates | 137.8 | — | 20.4 | — | 158.2 | ||||||||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | Investment in unconsolidated affiliates | 1,219.60 | — | 193.5 | — | 1,413.10 | |||||||||||||||||||||||
Alliance | Services | and | ||||||||||||||||||||||||||||||||
Services | Corporate | Year ended December 31, 2011 | ||||||||||||||||||||||||||||||||
Revenues: | (in millions) | Retail and | Financial | International | All Other and | Totals | ||||||||||||||||||||||||||||
Transaction and processing service fees | $ | 807.6 | $ | 334.5 | $ | 321.9 | $ | 19.3 | $ | 1,483.30 | Alliance | Services | Corporate | |||||||||||||||||||||
Product sales and other | 102.6 | 12.6 | 95.8 | 9.1 | 220.1 | Services | ||||||||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 9.3 | — | 9.3 | Revenues: | ||||||||||||||||||||||||||||
Total segment reporting revenues | $ | 910.2 | $ | 347.1 | $ | 427 | $ | 28.4 | $ | 1,712.70 | Transaction and processing service fees | $ | 2,974.50 | $ | 1,350.00 | $ | 1,337.90 | $ | 108.3 | $ | 5,770.70 | |||||||||||||
Internal revenue | $ | 5.4 | $ | 7.8 | $ | 2.3 | $ | — | $ | 15.5 | Product sales and other | 407.5 | 29.5 | 388.8 | 32.9 | 858.7 | ||||||||||||||||||
External revenue | $ | 904.8 | $ | 339.3 | $ | 424.7 | $ | 28.4 | $ | 1,697.20 | Equity earnings in affiliates (a) | — | — | 34.6 | — | 34.6 | ||||||||||||||||||
Depreciation and amortization | $ | 125.5 | $ | 83.6 | $ | 69.9 | $ | 10.4 | $ | 289.4 | Total segment reporting revenues | $ | 3,382.00 | $ | 1,379.50 | $ | 1,761.30 | $ | 141.2 | $ | 6,664.00 | |||||||||||||
Segment EBITDA | $ | 409.4 | $ | 149.5 | $ | 119.5 | $ | (69.9 | ) | $ | 608.5 | Internal revenue | $ | 17.5 | $ | 37.8 | $ | 9.8 | $ | — | $ | 65.1 | ||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | (21.9 | ) | $ | — | $ | (5.4 | ) | $ | (31.9 | ) | $ | (59.2 | ) | External revenue | 3,364.50 | 1,341.70 | 1,751.50 | 141.2 | 6,598.90 | ||||||||||||||
Depreciation and amortization | 571.1 | 347.7 | 222.7 | 45.1 | 1,186.60 | |||||||||||||||||||||||||||||
Nine months ended September 30, 2013 | Segment EBITDA | 1,407.50 | 593.5 | 454.3 | (206.8 | ) | 2,248.50 | |||||||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | Other operating expenses and other income (expense) excluding divestitures | (0.4 | ) | (10.5 | ) | (12.1 | ) | 45.8 | 22.8 | ||||||||||||||||||||
Alliance | Services | and | Expenditures for long-lived assets | 33.4 | 60 | 168 | 143.4 | 404.8 | ||||||||||||||||||||||||||
Services | Corporate | Equity earnings in affiliates | 118.5 | — | 34.9 | — | 153.4 | |||||||||||||||||||||||||||
Revenues: | Investment in unconsolidated affiliates | 1,288.90 | — | 201.7 | — | 1,490.60 | ||||||||||||||||||||||||||||
Transaction and processing service fees | $ | 2,414.60 | $ | 979.5 | $ | 973 | $ | 57 | $ | 4,424.10 | ||||||||||||||||||||||||
Product sales and other | 291.7 | 34.7 | 269.5 | 33.5 | 629.4 | Year ended December 31, 2010 | ||||||||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 22.6 | — | 22.6 | (in millions) | Retail and | Financial | International | All Other and | Totals | |||||||||||||||||||||||
Total segment reporting revenues | $ | 2,706.30 | $ | 1,014.20 | $ | 1,265.10 | $ | 90.5 | $ | 5,076.10 | Alliance | Services | Corporate | |||||||||||||||||||||
Internal revenue | $ | 16.7 | $ | 25.5 | $ | 7.5 | $ | — | $ | 49.7 | Services | |||||||||||||||||||||||
External revenue | $ | 2,689.60 | $ | 988.7 | $ | 1,257.60 | $ | 90.5 | $ | 5,026.40 | Revenues: | |||||||||||||||||||||||
Depreciation and amortization | $ | 338.2 | $ | 245.7 | $ | 198.5 | $ | 34.7 | $ | 817.1 | Transaction and processing service fees | $ | 2,923.90 | $ | 1,362.20 | $ | 1,237.50 | $ | 126.8 | $ | 5,650.40 | |||||||||||||
Segment EBITDA | $ | 1,193.80 | $ | 446.5 | $ | 341.6 | $ | (201.7 | ) | $ | 1,780.20 | Product sales and other | 390.9 | 46.8 | 353.9 | 23.9 | 815.5 | |||||||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | 10.8 | $ | (8.4 | ) | $ | 18.1 | $ | (89.7 | ) | $ | (69.2 | ) | Equity earnings in affiliates (a) | — | — | 29.4 | — | 29.4 | |||||||||||||||
Total segment reporting revenues | $ | 3,314.80 | $ | 1,409.00 | $ | 1,620.80 | $ | 150.7 | $ | 6,495.30 | ||||||||||||||||||||||||
Nine months ended September 30, 2012 | Internal revenue | $ | 18 | $ | 36 | $ | 8.4 | $ | — | $ | 62.4 | |||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | External revenue | 3,296.80 | 1,373.00 | 1,612.40 | 150.7 | 6,432.90 | |||||||||||||||||||||||
Alliance | Services | and | Depreciation and amortization | 676.2 | 362.9 | 289.9 | 51.2 | 1,380.20 | ||||||||||||||||||||||||||
Services | Corporate | Segment EBITDA | 1,322.30 | 553 | 329.8 | (178.1 | ) | 2,027.00 | ||||||||||||||||||||||||||
Revenues: | Other operating expenses and other income (expense) excluding divestitures | (60.2 | ) | (8.5 | ) | (26.4 | ) | (21.0 | ) | (116.1 | ) | |||||||||||||||||||||||
Transaction and processing service fees | $ | 2,363.40 | $ | 1,011.40 | $ | 952.6 | $ | 66.3 | $ | 4,393.70 | Expenditures for long-lived assets | 27.9 | 69.9 | 171.3 | 100.6 | 369.7 | ||||||||||||||||||
Product sales and other | 308 | 30 | 276 | 30.8 | 644.8 | Equity earnings in affiliates | 104.8 | — | 12.5 | — | 117.3 | |||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 27.9 | — | 27.9 | Investment in unconsolidated affiliates | 1,013.50 | — | 194.7 | — | 1,208.20 | |||||||||||||||||||||||
Total segment reporting revenues | $ | 2,671.40 | $ | 1,041.40 | $ | 1,256.50 | $ | 97.1 | $ | 5,066.40 | ||||||||||||||||||||||||
Internal revenue | $ | 14.9 | $ | 23.4 | $ | 6.8 | $ | — | $ | 45.1 | ||||||||||||||||||||||||
External revenue | $ | 2,656.50 | $ | 1,018.00 | $ | 1,249.70 | $ | 97.1 | $ | 5,021.30 | ||||||||||||||||||||||||
Depreciation and amortization | $ | 391.5 | $ | 255.5 | $ | 213.2 | $ | 33.5 | $ | 893.7 | ||||||||||||||||||||||||
Segment EBITDA | $ | 1,176.60 | $ | 457.2 | $ | 332.4 | $ | (186.0 | ) | $ | 1,780.20 | |||||||||||||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | (28.8 | ) | $ | (5.1 | ) | $ | (25.7 | ) | $ | (52.4 | ) | $ | (112.0 | ) | |||||||||||||||||||
Schedule of reconciliation of reportable segment amounts to the consolidated balances | ' | ' | ||||||||||||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | ||||||||||||||||||||||||||||||||
September 30, | September 30, | (in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Segment Revenues: | |||||||||||||||||||||||||||||
Segment Revenues: | Total reported segments | $ | 6,711.30 | $ | 6,522.80 | $ | 6,344.60 | |||||||||||||||||||||||||||
Total reported segments | $ | 1,694.70 | $ | 1,684.30 | $ | 4,985.60 | $ | 4,969.30 | All Other and Corporate | 125 | 141.2 | 150.7 | ||||||||||||||||||||||
All Other and Corporate | 32 | 28.4 | 90.5 | 97.1 | Adjustments to reconcile to Adjusted revenue: | |||||||||||||||||||||||||||||
Adjustment to reconcile to Adjusted revenue: | Official check and money order revenues (b) | (12.7 | ) | (9.9 | ) | 8 | ||||||||||||||||||||||||||||
Official check and money order revenues (b) | (0.8 | ) | (2.3 | ) | (3.2 | ) | (11.9 | ) | Eliminations of intersegment revenues | (61.6 | ) | (65.1 | ) | (62.4 | ) | |||||||||||||||||||
Eliminations of intersegment revenues | (17.5 | ) | (15.5 | ) | (49.7 | ) | (45.1 | ) | Adjusted revenue | 6,762.00 | 6,589.00 | 6,440.90 | ||||||||||||||||||||||
Adjusted revenue | 1,708.40 | 1,694.90 | 5,023.20 | 5,009.40 | Adjustments to reconcile to Consolidated revenues: | |||||||||||||||||||||||||||||
Adjustments to reconcile to Consolidated revenues: | Adjustments for non-wholly-owned entities (c) | 73.2 | 179.7 | 224.1 | ||||||||||||||||||||||||||||||
Adjustments for non-wholly-owned entities (c) | 3 | 11.8 | 26.3 | 48.5 | Official check and money order revenues | 12.7 | 9.9 | (8.0 | ) | |||||||||||||||||||||||||
Official check and money order revenues (b) | 0.8 | 2.3 | 3.2 | 11.9 | ISO commission expense | 470.9 | 403.5 | 333.8 | ||||||||||||||||||||||||||
ISO commission expense | 123.5 | 120.6 | 362.6 | 355.7 | Reimbursable debit network fees, postage and other | 3,361.50 | 3,531.50 | 3,389.60 | ||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | 876.4 | 844.4 | 2,596.50 | 2,498.00 | Consolidated revenues | $ | 10,680.30 | $ | 10,713.60 | $ | 10,380.40 | |||||||||||||||||||||||
Consolidated revenues | $ | 2,712.10 | $ | 2,674.00 | $ | 8,011.80 | $ | 7,923.50 | Segment EBITDA: | |||||||||||||||||||||||||
Segment EBITDA: | Total reported segments | $ | 2,681.70 | $ | 2,455.30 | $ | 2,205.10 | |||||||||||||||||||||||||||
Total reported segments | $ | 699 | $ | 678.4 | $ | 1,981.90 | $ | 1,966.20 | All Other and Corporate | (246.0 | ) | (206.8 | ) | (178.1 | ) | |||||||||||||||||||
All Other and Corporate | (71.9 | ) | (69.9 | ) | (201.7 | ) | (186.0 | ) | Adjusted EBITDA | 2,435.70 | 2,248.50 | 2,027.00 | ||||||||||||||||||||||
Adjusted EBITDA | 627.1 | 608.5 | 1,780.20 | 1,780.20 | Adjustments to reconcile to Net loss attributable to First Data Corporation: | |||||||||||||||||||||||||||||
Adjustments to reconcile to “Net loss attributable to First Data Corporation”: | Divested businesses | — | — | 1.1 | ||||||||||||||||||||||||||||||
Adjustments for non-wholly-owned entities (c) | 0.5 | 4.1 | 3.2 | 3.8 | Adjustments for non-wholly-owned entities (c) | 6.8 | 59.5 | 34.3 | ||||||||||||||||||||||||||
Depreciation and amortization | (271.3 | ) | (293.5 | ) | (818.2 | ) | (897.1 | ) | Depreciation and amortization | (1,191.6 | ) | (1,245.0 | ) | (1,414.4 | ) | |||||||||||||||||||
Interest expense | (469.0 | ) | (488.6 | ) | (1,410.2 | ) | (1,430.4 | ) | Interest expense | (1,897.8 | ) | (1,833.1 | ) | (1,796.6 | ) | |||||||||||||||||||
Interest income | 2.7 | 2.1 | 8 | 6.3 | Interest income | 8.8 | 7.9 | 7.8 | ||||||||||||||||||||||||||
Other items (d) | (49.8 | ) | (70.8 | ) | (86.4 | ) | (137.1 | ) | Other items (d) | (156.9 | ) | 62.4 | (97.4 | ) | ||||||||||||||||||||
Income tax (expense) benefit | (28.6 | ) | 69.4 | (101.7 | ) | 252.3 | Income tax benefit | 224 | 270.1 | 323.8 | ||||||||||||||||||||||||
Stock-based compensation | (5.5 | ) | (3.4 | ) | (36.1 | ) | (10.4 | ) | Stock based compensation | (11.8 | ) | (16.9 | ) | (16.1 | ) | |||||||||||||||||||
Official check and money order EBITDA (b) | 0.4 | 1.4 | 1.9 | 6.2 | Official check and money order EBITDA (b) | 6.4 | (0.5 | ) | (21.2 | ) | ||||||||||||||||||||||||
Costs of alliance conversions | (17.8 | ) | (22.8 | ) | (59.1 | ) | (56.5 | ) | Costs of alliance conversions | (77.2 | ) | (28.4 | ) | (25.7 | ) | |||||||||||||||||||
KKR related items | (8.3 | ) | (8.4 | ) | (24.4 | ) | (25.2 | ) | Stock plan modification expenses | — | — | (7.8 | ) | |||||||||||||||||||||
Debt issuance costs | 0.1 | (10.0 | ) | (3.2 | ) | (14.0 | ) | KKR related items | (33.6 | ) | (37.4 | ) | (28.5 | ) | ||||||||||||||||||||
Net loss attributable to First Data Corporation | $ | (219.5 | ) | $ | (212.0 | ) | $ | (746.0 | ) | $ | (521.9 | ) | Debt issuance costs | (13.7 | ) | (3.2 | ) | (8.1 | ) | |||||||||||||||
Net loss attributable to First Data Corporation | $ | (700.9 | ) | $ | (516.1 | ) | $ | (1,021.8 | ) | |||||||||||||||||||||||||
(a) Excludes equity losses that were recorded in expense and the amortization related to the excess of the investment balance over the Company’s proportionate share of the investee’s net book value for the International segment. | ||||||||||||||||||||||||||||||||||
(b) Represents an adjustment to exclude the official check and money order businesses from revenue and EBITDA due to the Company’s wind down of these businesses. | ||||||||||||||||||||||||||||||||||
(c) Represents the net adjustment to reflect First Data’s proportionate share of alliance revenue and EBITDA within the Retail and Alliance Services segment, equity earnings in affiliates included in International segment revenue and amortization related to equity method investments not included in segment EBITDA. | (a) Excludes equity losses that were recorded in expense and the amortization related to the excess of the investment balance over the Company’s proportionate share of the investee’s net book value for the International segment. | |||||||||||||||||||||||||||||||||
(d) Includes restructuring, certain retention bonuses, litigation and regulatory settlements, and impairments as applicable to the periods presented and “Other income (expense)” as presented in the Consolidated Statements of Operations. | (b) Represents an adjustment to exclude the official check and money order businesses from revenue and EBITDA due to the Company’s wind down of these businesses. | |||||||||||||||||||||||||||||||||
(c) Net adjustment to reflect First Data’s proportionate share of alliance revenue and EBITDA within the Retail and Alliance Services segment, equity earnings in affiliates included in International segment revenue and amortization related to equity method investments not included in segment EBITDA. | ||||||||||||||||||||||||||||||||||
(d) Includes restructuring, litigation and regulatory settlements and impairments as applicable to the periods presented and “Other income (expense)” as presented in the Consolidated Statement of Operations. | ||||||||||||||||||||||||||||||||||
Schedule of segment assets | ' | ' | ||||||||||||||||||||||||||||||||
(in millions) | As of September 30, | As of December 31, | As of December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | (in millions) | 2012 | 2011 | ||||||||||||||||||||||||||||||
Assets: | Assets: | |||||||||||||||||||||||||||||||||
Retail and Alliance Services | $ | 25,607.60 | $ | 25,885.70 | Retail and Alliance Services | $ | 25,885.70 | $ | 27,882.20 | |||||||||||||||||||||||||
Financial Services | 4,192.30 | 4,477.10 | Financial Services | 4,477.10 | 4,647.80 | |||||||||||||||||||||||||||||
International | 5,061.40 | 5,305.70 | International | 5,305.70 | 5,332.90 | |||||||||||||||||||||||||||||
All Other and Corporate | 1,982.40 | 2,230.50 | All Other and Corporate | 2,230.50 | 2,413.40 | |||||||||||||||||||||||||||||
Consolidated | $ | 36,843.70 | $ | 37,899.00 | Consolidated | $ | 37,899.00 | $ | 40,276.30 | |||||||||||||||||||||||||
Schedule of reconciliation of reportable segment depreciation and amortization amounts to the consolidated balances | ' | ' | ||||||||||||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | ||||||||||||||||||||||||||||||||
September 30, | September 30, | (in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Depreciation and Amortization: | |||||||||||||||||||||||||||||
Depreciation and amortization: | Total reported segments | $ | 1,140.20 | $ | 1,141.50 | $ | 1,329.00 | |||||||||||||||||||||||||||
Total reported segments | $ | 261.6 | $ | 279 | $ | 782.4 | $ | 860.2 | All Other and Corporate | 45.1 | 45.1 | 51.2 | ||||||||||||||||||||||
All Other and Corporate | 9.4 | 10.4 | 34.7 | 33.5 | 1,185.30 | 1,186.60 | 1,380.20 | |||||||||||||||||||||||||||
271 | 289.4 | 817.1 | 893.7 | Adjustments to reconcile to consolidated depreciation and amortization: | ||||||||||||||||||||||||||||||
Adjustments to reconcile to consolidated depreciation and amortization: | Adjustments for non-wholly-owned entities | 101.1 | 115.1 | 107.2 | ||||||||||||||||||||||||||||||
Adjustments for non-wholly-owned entities | 20 | 25.5 | 60.3 | 76.7 | Amortization of initial payments for new contracts | 44.5 | 42.5 | 38.6 | ||||||||||||||||||||||||||
Amortization of initial payments for new contracts | 10.4 | 12 | 30.7 | 33.7 | Total consolidated depreciation and amortization | $ | 1,330.90 | $ | 1,344.20 | $ | 1,526.00 | |||||||||||||||||||||||
Total consolidated depreciation and amortization | $ | 301.4 | $ | 326.9 | $ | 908.1 | $ | 1,004.10 | ||||||||||||||||||||||||||
Schedule of information concerning principal geographic areas | ' | ' | ||||||||||||||||||||||||||||||||
(in millions) | United | International | Total | |||||||||||||||||||||||||||||||
States | ||||||||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||||||||
2012 | $ | 9,046.00 | $ | 1,634.30 | $ | 10,680.30 | ||||||||||||||||||||||||||||
2011 | 9,026.30 | 1,687.30 | 10,713.60 | |||||||||||||||||||||||||||||||
2010 | 8,806.80 | 1,573.60 | 10,380.40 | |||||||||||||||||||||||||||||||
Long-Lived Assets | ||||||||||||||||||||||||||||||||||
2012 | $ | 20,594.90 | $ | 3,128.30 | $ | 23,723.20 | ||||||||||||||||||||||||||||
2011 | 21,154.60 | 3,290.50 | 24,445.10 | |||||||||||||||||||||||||||||||
2010 | 21,979.00 | 3,424.60 | 25,403.60 | |||||||||||||||||||||||||||||||
Quarterly_Financial_Results_Un1
Quarterly Financial Results (Unaudited) (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2012 | ||||||||||||||
Quarterly Financial Results (Unaudited) | ' | |||||||||||||
Summary of quarterly results | ' | |||||||||||||
2012 by Quarter: | ||||||||||||||
(in millions) | First | Second | Third | Fourth (a) | ||||||||||
Revenues | $ | 2,564.00 | $ | 2,685.50 | $ | 2,674.00 | $ | 2,756.80 | ||||||
Expenses | 2,347.00 | 2,417.60 | 2,422.10 | 2,419.80 | ||||||||||
Operating profit | 217 | 267.9 | 251.9 | 337 | ||||||||||
Interest income | 2.5 | 1.7 | 2.1 | 2.5 | ||||||||||
Interest expense | (461.1 | ) | (480.7 | ) | (488.6 | ) | (467.4 | ) | ||||||
Other income (expense) | (8.2 | ) | (22.6 | ) | (52.0 | ) | (11.5 | ) | ||||||
Loss before income taxes and equity earnings in affiliates | (249.8 | ) | (233.7 | ) | (286.6 | ) | (139.4 | ) | ||||||
Income tax (benefit) expense | (108.2 | ) | (74.7 | ) | (69.4 | ) | 28.3 | |||||||
Equity earnings in affiliates | 27.5 | 44 | 43 | 43.7 | ||||||||||
Net loss | (114.1 | ) | (115.0 | ) | (174.2 | ) | (124.0 | ) | ||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interests | 38.4 | 42.4 | 37.8 | 55 | ||||||||||
Net loss attributable to First Data Corporation | $ | (152.5 | ) | $ | (157.4 | ) | $ | (212.0 | ) | $ | (179.0 | ) | ||
2011 by Quarter: | ||||||||||||||
(in millions) | First | Second | Third (b) | Fourth (c) | ||||||||||
Revenues | $ | 2,544.20 | $ | 2,749.80 | $ | 2,731.80 | $ | 2,687.80 | ||||||
Expenses | 2,437.70 | 2,537.80 | 2,438.60 | 2,358.00 | ||||||||||
Operating profit | 106.5 | 212 | 293.2 | 329.8 | ||||||||||
Interest income | 1.9 | 1.9 | 1.6 | 2.5 | ||||||||||
Interest expense | (442.3 | ) | (462.3 | ) | (466.7 | ) | (461.8 | ) | ||||||
Other income (expense) | (26.3 | ) | (1.4 | ) | 95.4 | 56.4 | ||||||||
Loss before income taxes and equity earnings in affiliates | (360.2 | ) | (249.8 | ) | (76.5 | ) | (73.1 | ) | ||||||
Income tax benefit | (148.0 | ) | (88.1 | ) | (18.9 | ) | (15.1 | ) | ||||||
Equity earnings in affiliates | 27.7 | 33.5 | 47.8 | 44.4 | ||||||||||
Net loss | (184.5 | ) | (128.2 | ) | (9.8 | ) | (13.6 | ) | ||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interests | 32.6 | 47.6 | 44.1 | 55.7 | ||||||||||
Net loss attributable to First Data Corporation | $ | (217.1 | ) | $ | (175.8 | ) | $ | (53.9 | ) | $ | (69.3 | ) | ||
(a) In the fourth quarter of 2012, the Company recorded a valuation allowance on state net operating losses of $47.8 million in “Income tax (benefit) expense”. Refer to Note 17 of these Consolidated Financial Statements for additional information. | ||||||||||||||
(b) In the third quarter of 2011, the Company recorded a net $55.4 million pretax ($31.5 million after tax) benefit in the Consolidated Statement of Operations to correct cumulative depreciation and amortization errors related to purchase accounting associated with the Company’s 2007 merger with an affiliate of Kohlberg Kravis Roberts & Co. The corrections impacted amortization of initial payments for new contracts within “Revenues” ($1.6 million contra-revenue), “Expenses” ($44.3 million benefit) and amortization of equity method investments within “Equity earnings in affiliates” ($12.7 million benefit). The errors and the cumulative correction, which totaled $55.4 million in aggregate and occurred over a four year period, were deemed immaterial to prior years and the current year, respectively. Additional immaterial related amounts were recorded in the fourth quarter. | ||||||||||||||
(c) In the fourth quarter of 2011, the Company contributed the assets of its transportation business to an alliance in exchange for a 30% noncontrolling interest in the alliance. The Company recognized a pretax gain of $59.1 million within “Other income (expense)” as a result of this transaction. Refer to Note 18 of these Consolidated Financial Statements for additional information. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2012 | |||||||||||
Income Taxes | ' | ||||||||||
Schedule of components of pretax (loss) income, (benefit) provision for income taxes and effective income tax rate | ' | ||||||||||
Year ended December 31, | |||||||||||
(in millions) | 2012 | 2011 | 2010 | ||||||||
Components of pretax (loss) income: | |||||||||||
Domestic | $ | (875.5 | ) | $ | (898.9 | ) | $ | (1,289.1 | ) | ||
Foreign | 124.2 | 292.7 | 118.4 | ||||||||
$ | (751.3 | ) | $ | (606.2 | ) | $ | (1,170.7 | ) | |||
(Benefit) provision for income taxes: | |||||||||||
Federal | $ | (301.4 | ) | $ | (282.6 | ) | $ | (313.9 | ) | ||
State and local | 66 | (27.9 | ) | (39.3 | ) | ||||||
Foreign | 11.4 | 40.4 | 29.4 | ||||||||
$ | (224.0 | ) | $ | (270.1 | ) | $ | (323.8 | ) | |||
Effective Income Tax Rate | 29.8 | % | 44.6 | % | 27.7 | % | |||||
Schedule of effective tax rates differ from statutory rates | ' | ||||||||||
Year ended December 31, | |||||||||||
2012 | 2011 | 2010 | |||||||||
Federal statutory rate | 35 | % | 35 | % | 35 | % | |||||
State income taxes, net of federal income tax benefit | 1.1 | 1.5 | 2 | ||||||||
Nontaxable income from noncontrolling interests | 7.9 | 10.2 | 5.2 | ||||||||
Impact of foreign operations (a) (c) | 1.5 | 3.9 | 1.5 | ||||||||
Valuation allowances (c) | (20.2 | ) | (12.7 | ) | (15.1 | ) | |||||
Liability for unrecognized tax benefits (c) | 4.1 | 3.3 | 2.1 | ||||||||
Impact of contribution to alliance (b) | 0 | (2.2 | ) | 0 | |||||||
Prior year adjustments (c) | 2 | 2.5 | (1.2 | ) | |||||||
Other | (1.6 | ) | 3.1 | (1.8 | ) | ||||||
Effective tax rate | 29.8 | % | 44.6 | % | 27.7 | % | |||||
(a) The impact of foreign operations includes the effects of tax earnings and profits adjustments, foreign losses and differences between foreign tax expense and foreign taxes eligible for the U.S. foreign tax credit. | |||||||||||
(b) The impact of contribution to alliance represents the tax effects resulting from the gain on the contribution of the Company’s transportation business in exchange for a 30% interest in an alliance. | |||||||||||
(c) The 2012 effective tax rate was negatively impacted by a total of approximately 9% as a result of the current year cumulative correction of immaterial prior year errors. The cumulative corrections had an impact on each of the following line items above: Impact of foreign operations, Valuation allowances, Liability for unrecognized tax benefits and Prior year adjustments. | |||||||||||
Schedule of components of income tax (benefits) provisions | ' | ||||||||||
Year ended December 31, | |||||||||||
(in millions) | 2012 | 2011 | 2010 | ||||||||
Current | |||||||||||
Federal | $ | (60.0 | ) | $ | (54.0 | ) | $ | (27.7 | ) | ||
State and local | 16 | 25.8 | 18.3 | ||||||||
Foreign | 38.6 | 61.8 | 57.7 | ||||||||
(5.4 | ) | 33.6 | 48.3 | ||||||||
Deferred | |||||||||||
Federal | (241.4 | ) | (228.6 | ) | (286.2 | ) | |||||
State and local | 50 | (53.7 | ) | (57.6 | ) | ||||||
Foreign | (27.2 | ) | (21.4 | ) | (28.3 | ) | |||||
(218.6 | ) | (303.7 | ) | (372.1 | ) | ||||||
$ | (224.0 | ) | $ | (270.1 | ) | $ | (323.8 | ) | |||
Schedule of principal components of deferred tax items | ' | ||||||||||
As of December 31, | |||||||||||
(in millions) | 2012 | 2011(a) | |||||||||
Deferred tax assets related to: | |||||||||||
Reserves and other accrued expenses | $ | 543.5 | $ | 450.3 | |||||||
Pension obligations | 47.9 | 44.2 | |||||||||
Employee related liabilities | 75.7 | 64 | |||||||||
Deferred revenues | 30 | 26.7 | |||||||||
Unrealized securities and hedging (gain)/loss | — | 42.2 | |||||||||
Net operating losses and tax credit carryforwards | 1,383.60 | 1,336.50 | |||||||||
U.S. foreign tax credits on undistributed earnings | 234.8 | 203.2 | |||||||||
Foreign exchange (gain)/loss | 48.5 | 61.5 | |||||||||
Total deferred tax assets | 2,364.00 | 2,228.60 | |||||||||
Valuation allowance | (896.5 | ) | (744.6 | ) | |||||||
Realizable deferred tax assets | 1,467.50 | 1,484.00 | |||||||||
Deferred tax liabilities related to: | |||||||||||
Property, equipment and intangibles | (1,206.0 | ) | (1,382.0 | ) | |||||||
Investment in affiliates and other | (512.3 | ) | (532.7 | ) | |||||||
Unrealized securities and hedging (gain)/loss | (0.6 | ) | — | ||||||||
U.S. tax on foreign undistributed earnings | (173.8 | ) | (145.9 | ) | |||||||
Total deferred tax liabilities | (1,892.7 | ) | (2,060.6 | ) | |||||||
Net deferred tax liabilities | $ | (425.2 | ) | $ | (576.6 | ) | |||||
(a) Certain amounts have been reclassified to conform to current year presentation. | |||||||||||
Schedule of deferred tax assets and liabilities included in the consolidated balance sheets | ' | ||||||||||
As of December 31, | |||||||||||
(in millions) | 2012 | 2011 | |||||||||
Current deferred tax assets | $ | 73.9 | $ | 108.3 | |||||||
Long-term deferred tax assets | 10.4 | 10.5 | |||||||||
Long-term deferred tax liabilities | (509.5 | ) | (695.4 | ) | |||||||
Net deferred tax liabilities | $ | (425.2 | ) | $ | (576.6 | ) | |||||
Schedule of approximate amounts of federal, state and foreign net operating loss carryforwards and foreign tax credit, general business credit and minimum tax credit carryforwards | ' | ||||||||||
As of December 31, | |||||||||||
(in millions) | 2012 | ||||||||||
Federal net operating loss carryforwards (a) | $ | 1,766.10 | |||||||||
State net operating loss carryforwards (b) | 2,759.20 | ||||||||||
Foreign net operating loss carryforwards (c) | 2,450.00 | ||||||||||
Foreign tax credit carryforwards (d) | 144.1 | ||||||||||
General business credit carryforwards (e) | 11.1 | ||||||||||
Minimum tax credit carryforwards (f) | 1.6 | ||||||||||
(a) If not utilized, these carryforwards will expire in years 2015 through 2032. | |||||||||||
(b) If not utilized, these carryforwards will expire in years 2013 through 2032. | |||||||||||
(c) Foreign net operating loss carryforwards of $137 million, if not utilized, will expire in years 2013 through 2027. The remaining foreign net operating loss carryforwards of $2,313 million have an indefinite life. | |||||||||||
(d) If not utilized, these carryforwards will expire in years 2018 through 2022. | |||||||||||
(e) If not utilized, these carryforwards will expire in years 2027 through 2031. | |||||||||||
(f) These carryforwards have an indefinite life. | |||||||||||
Schedule of reconciliation of the unrecognized tax benefits | ' | ||||||||||
(in millions) | Unrecognized Tax Benefits | ||||||||||
Balance as of January 1, 2010 | $ | 415 | |||||||||
Increases for tax positions of prior years | 0.5 | ||||||||||
Decreases for tax positions of prior years | (45.4 | ) | |||||||||
Increases for tax positions related to the current period | 1.9 | ||||||||||
Decreases for cash settlements with taxing authorities | (1.4 | ) | |||||||||
Decreases due to the lapse of the applicable statute of limitations | (2.0 | ) | |||||||||
Balance as of December 31, 2010 | $ | 368.6 | |||||||||
Increases for tax positions of prior years | 1.3 | ||||||||||
Decreases for tax positions of prior years | (28.5 | ) | |||||||||
Increases for tax positions related to the current period | 1.7 | ||||||||||
Decreases for cash settlements with taxing authorities | (1.0 | ) | |||||||||
Decreases due to the lapse of the applicable statute of limitations | (7.4 | ) | |||||||||
Balance as of December 31, 2011 | $ | 334.7 | |||||||||
Increases for tax positions of prior years | 5.5 | ||||||||||
Decreases for tax positions of prior years | (57.7 | ) | |||||||||
Increases for tax positions related to the current period | 6.2 | ||||||||||
Decreases for cash settlements with taxing authorities | (0.1 | ) | |||||||||
Decreases due to the lapse of the applicable statute of limitations | (2.4 | ) | |||||||||
Balance as of December 31, 2012 | $ | 286.2 | |||||||||
Schedule of approximate amounts associated with accrued interest expense and the cumulative accrued interest and penalties | ' | ||||||||||
Year ended December 31, | |||||||||||
2012 | 2011 | 2010 | |||||||||
Current year accrued interest expense (net of related tax benefits) | $ | 4 | $ | 9 | $ | 14 | |||||
Cumulative accrued interest and penalties (net of related tax benefits) | $ | 47 | $ | 69 | $ | 67 |
Investment_in_Affiliates_Table
Investment in Affiliates (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2012 | |||||||||||
Investment in Affiliates | ' | ||||||||||
Summary of unaudited financial information related to the balance sheet | ' | ||||||||||
As of December 31, | |||||||||||
(in millions) | 2012 | 2011 | |||||||||
Total assets | $ | 2,834.80 | $ | 2,820.30 | |||||||
Total liabilities | 2,467.90 | 2,514.70 | |||||||||
Summary of unaudited financial information related to the income statement | ' | ||||||||||
Year ended December 31, | |||||||||||
(in millions) | 2012 | 2011 | 2010 | ||||||||
Net operating revenues | $ | 1,278.40 | $ | 1,114.40 | $ | 999.1 | |||||
Operating expenses | 630.2 | 577.4 | 520.6 | ||||||||
Operating income | $ | 648.2 | $ | 537 | $ | 478.5 | |||||
Net income | $ | 639.4 | $ | 509.8 | $ | 455.6 | |||||
FDC equity earnings | $ | 158.2 | $ | 153.4 | $ | 117.3 | |||||
Schedule of estimated future amortization expense for intangible assets | ' | ||||||||||
Year ended December 31, | Amount | ||||||||||
(in millions) | |||||||||||
2013 | $ | 78.4 | |||||||||
2014 | 62.2 | ||||||||||
2015 | 57.1 | ||||||||||
2016 | 52.3 | ||||||||||
2017 | 49.1 | ||||||||||
Thereafter | 48.2 | ||||||||||
Supplemental_Guarantor_Condens1
Supplemental Guarantor Condensed Consolidating Financial Statements (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Increase (decrease) from amounts previously reported | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) from Amounts Previously Reported | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2012 | For the nine months ended September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | (in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | |||||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | Company | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||
(Loss) income before income taxes and equity earnings in affiliates | $ | 10.8 | $ | (27.6 | ) | $ | (1.1 | ) | $ | 17.9 | (Loss) income before income taxes and equity earnings in affiliates | $ | 35.3 | $ | (92.7 | ) | $ | (1.6 | ) | $ | 59 | |||||||||||||||||||||||||||||||
Income tax (benefit) expense | $ | 10.8 | $ | (10.4 | ) | $ | (0.4 | ) | $ | — | Income tax (benefit) expense | 35.3 | (34.7 | ) | (0.6 | ) | — | |||||||||||||||||||||||||||||||||||
Net (loss) income | $ | — | $ | (17.2 | ) | $ | (0.7 | ) | $ | 17.9 | Net (loss) income | — | (58.0 | ) | (1.0 | ) | 59 | |||||||||||||||||||||||||||||||||||
Net (loss) income attributable to First Data Corporation | $ | — | $ | (17.2 | ) | $ | (0.7 | ) | $ | 17.9 | Net (loss) income attributable to First Data Corporation | — | (58.0 | ) | (1.0 | ) | 59 | |||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | Year ended December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | (in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | ||||||||||||||||||||||||||||||||||||||||||||
(Loss) income before income taxes and equity earnings in affiliates | $ | 35.3 | $ | (92.7 | ) | $ | (1.6 | ) | $ | 59 | Company | Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||
Income tax (benefit) expense | $ | 35.3 | $ | (34.7 | ) | $ | (0.6 | ) | $ | — | (Loss) income before income taxes and equity earnings in affiliates | $ | 110.4 | $ | (260.1 | ) | $ | (36.6 | ) | $ | 186.3 | |||||||||||||||||||||||||||||||
Net (loss) income | $ | — | $ | (58.0 | ) | $ | (1.0 | ) | $ | 59 | Income tax (benefit) expense | 110.4 | (97.9 | ) | (12.5 | ) | — | |||||||||||||||||||||||||||||||||||
Net (loss) income attributable to First Data Corporation | $ | — | $ | (58.0 | ) | $ | (1.0 | ) | $ | 59 | Net (loss) income | — | (162.2 | ) | (24.1 | ) | 186.3 | |||||||||||||||||||||||||||||||||||
Net (loss) income attributable to First Data Corporation | — | (161.9 | ) | (24.4 | ) | 186.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | ||||||||||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||||
(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 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | — | (68.2 | ) | (5.8 | ) | 74 | ||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income attributable to First Data Corporation | — | (68.4 | ) | (5.6 | ) | 74 | ||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Previous and Corrected Disclosures | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2012 | For the nine months ended September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||
FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | As previously | As corrected | As previously | As corrected | As previously | As | As previously | As corrected | (in millions) | As previously | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | |||||||||||||||||||||||||||||||||||
reported | reported | reported | corrected | reported | reported | reported | reported | reported | ||||||||||||||||||||||||||||||||||||||||||||
Cost of services | $ | — | $ | — | $ | 496.1 | $ | 494.4 | $ | 280.8 | $ | 282.5 | $ | (47.9 | ) | $ | (47.9 | ) | 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 | — | — | ||||||||||||||||||||||||||||||||||||||||||
Operating (loss) profit | $ | (46.6 | ) | $ | (46.6 | ) | $ | 163 | $ | 164.7 | $ | 135.5 | $ | 133.8 | $ | — | $ | — | Interest income (expense) from intercompany notes | 144.3 | 234.4 | (148.6 | ) | (240.0 | ) | 4.3 | 5.6 | — | — | |||||||||||||||||||||||
Interest income (expense) from intercompany notes | $ | 49.4 | $ | 78.1 | $ | (50.7 | ) | $ | (80.0 | ) | $ | 1.3 | $ | 1.9 | $ | — | $ | — | Equity earnings from consolidated subsidiaries | 435.1 | 375.9 | 120.8 | 121 | — | — | (555.9 | ) | (496.9 | ) | |||||||||||||||||||||||
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 | (1,031.8 | ) | (996.5 | ) | 512 | 419.3 | 305.6 | 304 | (555.9 | ) | (496.9 | ) | |||||||||||||||||||||
(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 | (509.9 | ) | (474.6 | ) | 234.5 | 199.8 | 23.1 | 22.5 | — | — | |||||||||||||||||||||
Income tax (benefit) expense | $ | (176.4 | ) | $ | (165.6 | ) | $ | 77.9 | $ | 67.5 | $ | 29.1 | $ | 28.7 | $ | — | $ | — | Net (loss) income | (521.9 | ) | (521.9 | ) | 390.8 | 332.8 | 283.7 | 282.7 | (555.9 | ) | (496.9 | ) | |||||||||||||||||||||
Net (loss) income | $ | (212.0 | ) | $ | (212.0 | ) | $ | 105.7 | $ | 88.5 | $ | 118.1 | $ | 117.4 | $ | (186.0 | ) | $ | (168.1 | ) | Net (loss) income attributable to First Data Corporation | (521.9 | ) | (521.9 | ) | 390.8 | 332.8 | 239.8 | 238.8 | (630.6 | ) | (571.6 | ) | |||||||||||||||||||
Net (loss) income attributable to First Data Corporation | $ | (212.0 | ) | $ | (212.0 | ) | $ | 105.7 | $ | 88.5 | $ | 103.2 | $ | 102.5 | $ | (208.9 | ) | $ | (191.0 | ) | ||||||||||||||||||||||||||||||||
Nine months ended September 30, 2012 | Year ended December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||
FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | As previously | As corrected | As previously | As corrected | As previously | As | As previously | As corrected | (in millions) | As previously | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | |||||||||||||||||||||||||||||||||||
reported | reported | reported | corrected | reported | reported | reported | reported | reported | ||||||||||||||||||||||||||||||||||||||||||||
Cost of services | $ | — | $ | — | $ | 1,909.80 | $ | 1,896.40 | $ | 1,141.60 | $ | 1,155.00 | $ | (163.0 | ) | $ | (163.0 | ) | ||||||||||||||||||||||||||||||||||
Selling, general and administrative | $ | 110 | $ | 105.6 | $ | 875.7 | $ | 877.2 | $ | 387.6 | $ | 390.5 | $ | — | $ | — | Selling, general and administrative | 259.7 | 107.8 | 957.8 | 1,095.40 | 476.2 | 490.5 | — | — | |||||||||||||||||||||||||||
Operating (loss) profit | $ | (115.8 | ) | $ | (111.4 | ) | $ | 553.7 | $ | 552.2 | $ | 298.9 | $ | 296 | $ | — | $ | — | Operating (loss) profit | (264.9 | ) | (113.0 | ) | 698.8 | 574.6 | 507.6 | 479.9 | — | — | |||||||||||||||||||||||
Interest income (expense) from intercompany notes | $ | 144.3 | $ | 234.4 | $ | (148.6 | ) | $ | (240.0 | ) | $ | 4.3 | $ | 5.6 | $ | — | $ | — | Interest income (expense) from intercompany notes | 162.5 | 306.7 | (176.6 | ) | (311.9 | ) | 14.1 | 5.2 | — | — | |||||||||||||||||||||||
Equity earnings from consolidated subsidiaries | $ | 435.1 | $ | 375.9 | $ | 120.8 | $ | 121 | $ | — | $ | — | $ | (555.9 | ) | $ | (496.9 | ) | Equity earnings from consolidated subsidiaries | 637.9 | 452.2 | 134.5 | 133.9 | — | — | (772.4 | ) | (586.1 | ) | |||||||||||||||||||||||
(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 | ) | (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 | ) | |||||||||||||||||||
Income tax (benefit) expense | $ | (509.9 | ) | $ | (474.6 | ) | $ | 234.5 | $ | 199.8 | $ | 23.1 | $ | 22.5 | $ | — | $ | — | Income tax (benefit) expense | (702.0 | ) | (591.6 | ) | 341.3 | 243.4 | 90.6 | 78.1 | — | — | |||||||||||||||||||||||
Net (loss) income | $ | (521.9 | ) | $ | (521.9 | ) | $ | 390.8 | $ | 332.8 | $ | 283.7 | $ | 282.7 | $ | (555.9 | ) | $ | (496.9 | ) | Net (loss) income | (516.1 | ) | (516.1 | ) | 530.4 | 368.2 | 422 | 397.9 | (772.4 | ) | (586.1 | ) | |||||||||||||||||||
Net (loss) income attributable to First Data Corporation | $ | (521.9 | ) | $ | (521.9 | ) | $ | 390.8 | $ | 332.8 | $ | 239.8 | $ | 238.8 | $ | (630.6 | ) | $ | (571.6 | ) | Net (loss) income attributable to First Data Corporation | (516.1 | ) | (516.1 | ) | 530.1 | 368.2 | 362.7 | 338.3 | (892.8 | ) | (706.5 | ) | |||||||||||||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2012 | FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | (in millions) | As previously | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | ||||||||||||||||||||||||||||||||||||||||
(in millions) | As | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | reported | reported | reported | reported | ||||||||||||||||||||||||||||||||||||||||
previously | reported | reported | reported | Cost of Services | $ | — | $ | — | $ | 1,944.30 | $ | 1,949.60 | $ | 1,227.50 | $ | 1,222.20 | $ | (148.5 | ) | $ | (148.5 | ) | ||||||||||||||||||||||||||||||
reported | Operating (loss) profit | (285.0 | ) | (285.0 | ) | 475.3 | 470 | 326.4 | 331.7 | — | — | |||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | Interest income (expense) from intercompany notes | 112.3 | 230.3 | (146.4 | ) | (249.7 | ) | 34.1 | 19.4 | — | — | |||||||||||||||||||||||||||||||||||||||||
Net (loss) income | $ | (521.9 | ) | $ | (521.9 | ) | $ | 390.8 | $ | 332.8 | $ | 283.7 | $ | 282.7 | $ | (555.9 | ) | $ | (496.9 | ) | Equity earnings from consolidated subsidiaries | 323.8 | 249.8 | 150.2 | 150.2 | — | — | (474.0 | ) | (400.0 | ) | |||||||||||||||||||||
Other non-cash and non-operating items, net | $ | (405.3 | ) | $ | (346.1 | ) | $ | (193.9 | ) | $ | (194.1 | ) | $ | 5.5 | $ | 5.5 | $ | 555.9 | $ | 496.9 | (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 | ) | |||||||||||||||||||
(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 | ) | $ | — | $ | — | Income tax (benefit) expense | (598.5 | ) | (554.5 | ) | 164.7 | 124.3 | 110 | 106.4 | — | — | ||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (1,361.8 | ) | $ | (1,267.3 | ) | $ | 1,238.10 | $ | 1,145.20 | $ | 661.9 | $ | 660.3 | $ | — | $ | — | Net (loss) income | (1,021.8 | ) | (1,021.8 | ) | 458.6 | 390.4 | 218.2 | 212.4 | (501.9 | ) | (427.9 | ) | |||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | 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 | ) | |||||||||||||||||||||||||||||||||||||||
Intercompany | $ | 1,231.60 | $ | 1,137.10 | $ | (1,191.1 | ) | $ | (1,098.2 | ) | $ | (40.5 | ) | $ | (38.9 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||
CONSOLIDATED BALANCE SHEETS | ||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | As previously | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | ||||||||||||||||||||||||||||||||||||||||||||
reported | reported | reported | reported | |||||||||||||||||||||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Current intercompany notes receivable | $ | — | $ | 12.2 | $ | — | $ | — | $ | — | $ | 86.1 | $ | — | $ | (98.3 | ) | |||||||||||||||||||||||||||||||||||
Total current assets | 233.2 | 245.4 | 7,281.70 | 7,281.70 | 5,800.60 | 5,886.70 | — | (98.3 | ) | |||||||||||||||||||||||||||||||||||||||||||
Goodwill | — | — | 9,510.50 | 9,430.90 | 7,694.10 | 7,773.70 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||||
Investment in consolidated subsidiaries | 25,242.70 | 23,797.40 | 5,396.20 | 5,843.00 | — | — | (30,638.9 | ) | (29,640.4 | ) | ||||||||||||||||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Current intercompany notes payable | — | 62.5 | — | 35.8 | — | — | — | (98.3 | ) | |||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 697.9 | 760.4 | 6,790.70 | 6,826.50 | 5,331.60 | 5,331.60 | — | (98.3 | ) | |||||||||||||||||||||||||||||||||||||||||||
Long-term intercompany payables | 5,707.00 | 5,292.90 | (4,618.7 | ) | — | (1,088.3 | ) | — | — | (5,292.9 | ) | |||||||||||||||||||||||||||||||||||||||||
Long-term intercompany notes payable | (1,887.3 | ) | 260.6 | 1,949.90 | 3,196.80 | (62.6 | ) | 82.5 | — | (3.539.9) | ||||||||||||||||||||||||||||||||||||||||||
Total liabilities | 26,483.20 | 28,279.50 | 5,968.50 | 11,869.90 | 4,349.20 | 5,582.60 | — | (8,931.1 | ) | |||||||||||||||||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||||||
For the nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | As previously | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | ||||||||||||||||||||||||||||||||||||||||||||
Source/(use) | reported | reported | reported | reported | ||||||||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | $ | (521.9 | ) | $ | (521.9 | ) | $ | 390.8 | $ | 332.8 | $ | 283.7 | $ | 282.7 | $ | (555.9 | ) | $ | (496.9 | ) | ||||||||||||||||||||||||||||||||
Other non-cash and non-operating items, net | (405.3 | ) | (346.1 | ) | (193.9 | ) | (194.1 | ) | 5.5 | 5.5 | 555.9 | 496.9 | ||||||||||||||||||||||||||||||||||||||||
(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 | ) | — | — | |||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | (1,361.8 | ) | (1,267.3 | ) | 1,238.10 | 1,145.20 | 661.9 | 660.3 | — | — | ||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Intercompany | 1,231.60 | 1,137.10 | (1,191.1 | ) | (1,098.2 | ) | (40.5 | ) | (38.9 | ) | — | — | ||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | As previously | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | ||||||||||||||||||||||||||||||||||||||||||||
Source/(use) | reported | reported | reported | reported | ||||||||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | $ | (516.1 | ) | $ | (516.1 | ) | $ | 530.4 | $ | 368.2 | $ | 422 | $ | 397.9 | $ | (772.4 | ) | $ | (586.1 | ) | ||||||||||||||||||||||||||||||||
Other non-cash and non-operating items, net | (546.0 | ) | (360.3 | ) | (210.1 | ) | (209.5 | ) | 11.4 | 11.4 | 772.4 | 586.1 | ||||||||||||||||||||||||||||||||||||||||
(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 | — | — | ||||||||||||||||||||||||||||||||||||||||||
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 | — | — | ||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Intercompany | 1,516.60 | 1,220.50 | (1,375.9 | ) | (1,116.4 | ) | (140.7 | ) | (104.1 | ) | — | — | ||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | As previously | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | ||||||||||||||||||||||||||||||||||||||||||||
Source/(use) | reported | reported | reported | reported | ||||||||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | $ | (1,021.8 | ) | $ | (1.021.8) | $ | 458.6 | $ | 390.4 | $ | 218.2 | $ | 212.4 | $ | (501.9 | ) | $ | (427.9 | ) | |||||||||||||||||||||||||||||||||
Other non-cash and non-operating items, net | (11.6 | ) | 62.4 | (207.4 | ) | (207.4 | ) | 8.8 | 8.8 | 475.8 | 401.8 | |||||||||||||||||||||||||||||||||||||||||
(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 | ) | ||||||||||||||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Intercompany | 1,682.50 | 1,564.50 | (1,454.7 | ) | (1,346.1 | ) | (227.8 | ) | (218.4 | ) | — | — | ||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||
Schedule of the results of operations | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | Consolidated | (in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | |||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | Company | Subsidiaries | Guarantor | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||
Revenues: | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||||
Transaction and processing service fees | $ | — | $ | 1,065.40 | $ | 610.1 | $ | (55.3 | ) | $ | 1,620.20 | Revenues: | ||||||||||||||||||||||||||||||||||||||||
Product sales and other | — | 143.3 | 87.7 | (15.5 | ) | 215.5 | Transaction and processing service fees | $ | — | $ | 4,180.50 | $ | 2,471.80 | $ | (200.2 | ) | $ | 6,452.10 | ||||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 631.5 | 244.9 | — | 876.4 | Product sales and other | — | 569.8 | 355.8 | (58.9 | ) | 866.7 | ||||||||||||||||||||||||||||||||||||||||
— | 1,840.20 | 942.7 | (70.8 | ) | 2,712.10 | Reimbursable debit network fees, postage and other | — | 2,430.30 | 953.8 | (22.6 | ) | 3,361.50 | ||||||||||||||||||||||||||||||||||||||||
Expenses: | — | 7,180.60 | 3,781.40 | (281.7 | ) | 10,680.30 | ||||||||||||||||||||||||||||||||||||||||||||||
Cost of services (exclusive of items shown below) | — | 461.6 | 302.3 | (55.3 | ) | 708.6 | Expenses: | |||||||||||||||||||||||||||||||||||||||||||||
Cost of products sold | — | 61.2 | 35.2 | (15.5 | ) | 80.9 | Cost of services (exclusive of items shown below) | — | 1,829.60 | 1,234.10 | (200.2 | ) | 2,863.50 | |||||||||||||||||||||||||||||||||||||||
Selling, general and administrative | 27 | 302.2 | 134.4 | — | 463.6 | Cost of products sold | — | 252.9 | 142.3 | (58.9 | ) | 336.3 | ||||||||||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 631.5 | 244.9 | — | 876.4 | Selling, general and administrative | 89.4 | 1,217.30 | 518.7 | — | 1,825.40 | |||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | 1.8 | 162.9 | 106.6 | — | 271.3 | Reimbursable debit network fees, postage and other | — | 2,430.30 | 953.8 | (22.6 | ) | 3,361.50 | ||||||||||||||||||||||||||||||||||||||||
Other operating expenses: | Depreciation and amortization | 8.1 | 718.9 | 464.6 | — | 1,191.60 | ||||||||||||||||||||||||||||||||||||||||||||||
Restructuring, net | 3.2 | 4.8 | (0.2 | ) | — | 7.8 | Other operating expenses: | |||||||||||||||||||||||||||||||||||||||||||||
32 | 1,624.20 | 823.2 | (70.8 | ) | 2,408.60 | Restructuring, net | (0.2 | ) | 7.6 | 15.7 | — | 23.1 | ||||||||||||||||||||||||||||||||||||||||
Operating (loss) profit | (32.0 | ) | 216 | 119.5 | — | 303.5 | Impairments | — | 5.1 | — | — | 5.1 | ||||||||||||||||||||||||||||||||||||||||
Interest income | — | — | 2.7 | — | 2.7 | 97.3 | 6,461.70 | 3,329.20 | (281.7 | ) | 9,606.50 | |||||||||||||||||||||||||||||||||||||||||
Interest expense | (464.5 | ) | (3.0 | ) | (1.5 | ) | — | (469.0 | ) | Operating (loss) profit | (97.3 | ) | 718.9 | 452.2 | — | 1,073.80 | ||||||||||||||||||||||||||||||||||||
Interest income (expense) from intercompany notes | 79.2 | (77.5 | ) | (1.7 | ) | — | — | Interest income | 0.1 | 0.3 | 8.4 | — | 8.8 | |||||||||||||||||||||||||||||||||||||||
Other income (expense) | (50.3 | ) | 2.3 | 11.8 | — | (36.2 | ) | Interest expense | (1,880.4 | ) | (7.3 | ) | (10.1 | ) | — | (1,897.8 | ) | |||||||||||||||||||||||||||||||||||
Equity earnings from consolidated subsidiaries | 157.2 | 30.4 | — | (187.6 | ) | — | Interest income (expense) from intercompany notes | 313 | (320.0 | ) | 7 | — | — | |||||||||||||||||||||||||||||||||||||||
(278.4 | ) | (47.8 | ) | 11.3 | (187.6 | ) | (502.5 | ) | Other income (expense) | (102.1 | ) | (8.1 | ) | 15.9 | — | (94.3 | ) | |||||||||||||||||||||||||||||||||||
(Loss) income before income taxes and equity earnings in affiliates | (310.4 | ) | 168.2 | 130.8 | (187.6 | ) | (199.0 | ) | Equity earnings from consolidated subsidiaries | 522.6 | 179.7 | — | (702.3 | ) | — | |||||||||||||||||||||||||||||||||||||
Income tax (benefit) expense | (90.9 | ) | 68.6 | 50.9 | — | 28.6 | (1,146.8 | ) | (155.4 | ) | 21.2 | (702.3 | ) | (1,983.3 | ) | |||||||||||||||||||||||||||||||||||||
Equity earnings in affiliates | — | 47.3 | — | — | 47.3 | (Loss) income before income taxes and equity earnings in affiliates | (1,244.1 | ) | 563.5 | 473.4 | (702.3 | ) | (909.5 | ) | ||||||||||||||||||||||||||||||||||||||
Net (loss) income | (219.5 | ) | 146.9 | 79.9 | (187.6 | ) | (180.3 | ) | Income tax (benefit) expense | (543.2 | ) | 273.7 | 45.5 | — | (224.0 | ) | ||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 14.2 | 25 | 39.2 | Equity earnings in affiliates | — | 157.4 | 0.8 | — | 158.2 | |||||||||||||||||||||||||||||||||||||||||
Net (loss) income attributable to First Data Corporation | $ | (219.5 | ) | $ | 146.9 | $ | 65.7 | $ | (212.6 | ) | $ | (219.5 | ) | Net (loss) income | (700.9 | ) | 447.2 | 428.7 | (702.3 | ) | (527.3 | ) | ||||||||||||||||||||||||||||||
Comprehensive (loss) income | $ | (141.1 | ) | $ | 136.3 | $ | 180.6 | $ | (275.3 | ) | $ | (99.5 | ) | Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 61.9 | 111.7 | 173.6 | |||||||||||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 16.6 | 25 | 41.6 | Net (loss) income attributable to First Data Corporation | $ | (700.9 | ) | $ | 447.2 | $ | 366.8 | $ | (814.0 | ) | $ | (700.9 | ) | |||||||||||||||||||||||||||||||||
Comprehensive (loss) income attributable to First Data Corporation | $ | (141.1 | ) | $ | 136.3 | $ | 164 | $ | (300.3 | ) | $ | (141.1 | ) | Comprehensive (loss) income | $ | (654.7 | ) | $ | 448.6 | $ | 421.5 | $ | (693.2 | ) | $ | (477.8 | ) | |||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 65.2 | 111.7 | 176.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2013 | Comprehensive (loss) income attributable to First Data Corporation | $ | (654.7 | ) | $ | 448.6 | $ | 356.3 | $ | (804.9 | ) | $ | (654.7 | ) | ||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | Year ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||
Revenues: | (As Corrected) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Transaction and processing service fees | $ | — | $ | 3,132.30 | $ | 1,826.60 | $ | (166.4 | ) | $ | 4,792.50 | (in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | |||||||||||||||||||||||||||||||||||
Product sales and other | — | 409 | 259 | (45.2 | ) | 622.8 | Company | Subsidiaries | Guarantor | Adjustments | ||||||||||||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 1,869.50 | 727 | — | 2,596.50 | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||
— | 5,410.80 | 2,812.60 | (211.6 | ) | 8,011.80 | Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||
Expenses: | Transaction and processing service fees | $ | — | $ | 4,055.90 | $ | 2,437.10 | $ | (163.0 | ) | $ | 6,330.00 | ||||||||||||||||||||||||||||||||||||||||
Cost of services (exclusive of items shown below) | — | 1,401.40 | 884.2 | (166.4 | ) | 2,119.20 | Product sales and other | — | 551.4 | 358.2 | (57.5 | ) | 852.1 | |||||||||||||||||||||||||||||||||||||||
Cost of products sold | — | 185 | 107.1 | (45.2 | ) | 246.9 | Reimbursable debit network fees, postage and other | — | 2,445.00 | 1,159.10 | (72.6 | ) | 3,531.50 | |||||||||||||||||||||||||||||||||||||||
Selling, general and administrative | 93.7 | 923.4 | 403 | — | 1,420.10 | — | 7,052.30 | 3,954.40 | (293.1 | ) | 10,713.60 | |||||||||||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 1,869.50 | 727 | — | 2,596.50 | Expenses: | ||||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | 5.5 | 490.5 | 322.2 | — | 818.2 | Cost of services (exclusive of items shown below) | — | 1,896.40 | 1,155.00 | (163.0 | ) | 2,888.40 | ||||||||||||||||||||||||||||||||||||||||
Other operating expenses: | Cost of products sold | — | 274.7 | 152.4 | (57.5 | ) | 369.6 | |||||||||||||||||||||||||||||||||||||||||||||
Restructuring, net | 17.1 | 24.8 | 4.1 | — | 46 | Selling, general and administrative | 107.8 | 1,095.40 | 490.5 | — | 1,693.70 | |||||||||||||||||||||||||||||||||||||||||
116.3 | 4,894.60 | 2,447.60 | (211.6 | ) | 7,246.90 | Reimbursable debit network fees, postage and other | — | 2,445.00 | 1,159.10 | (72.6 | ) | 3,531.50 | ||||||||||||||||||||||||||||||||||||||||
Operating (loss) profit | (116.3 | ) | 516.2 | 365 | — | 764.9 | Depreciation and amortization | 8.3 | 743.1 | 493.6 | — | 1,245.00 | ||||||||||||||||||||||||||||||||||||||||
Interest income | 0.1 | 0.1 | 7.8 | — | 8 | Other operating expenses: | ||||||||||||||||||||||||||||||||||||||||||||||
Interest expense | (1,397.2 | ) | (7.6 | ) | (5.4 | ) | — | (1,410.2 | ) | Restructuring, net | (0.6 | ) | 23.1 | 23.9 | — | 46.4 | ||||||||||||||||||||||||||||||||||||
Interest income (expense) from intercompany notes | 236.3 | (233.4 | ) | (2.9 | ) | — | — | Litigation and regulatory settlements | (2.5 | ) | — | — | — | (2.5 | ) | |||||||||||||||||||||||||||||||||||||
Other income (expense) | (30.1 | ) | 4.9 | 4.3 | — | (20.9 | ) | 113 | 6,477.70 | 3,474.50 | (293.1 | ) | 9,772.10 | |||||||||||||||||||||||||||||||||||||||
Equity earnings from consolidated subsidiaries | 371.1 | 103.5 | — | (474.6 | ) | — | Operating (loss) profit | (113.0 | ) | 574.6 | 479.9 | — | 941.5 | |||||||||||||||||||||||||||||||||||||||
(819.8 | ) | (132.5 | ) | 3.8 | (474.6 | ) | (1,423.1 | ) | Interest income | 0.3 | 0.6 | 7 | — | 7.9 | ||||||||||||||||||||||||||||||||||||||
(Loss) income before income taxes and equity earnings in affiliates | (936.1 | ) | 383.7 | 368.8 | (474.6 | ) | (658.2 | ) | Interest expense | (1,812.9 | ) | (7.6 | ) | (12.6 | ) | — | (1,833.1 | ) | ||||||||||||||||||||||||||||||||||
Income tax (benefit) expense | (190.1 | ) | 185 | 106.8 | — | 101.7 | Interest income (expense) from intercompany notes | 306.7 | (311.9 | ) | 5.2 | — | — | |||||||||||||||||||||||||||||||||||||||
Equity earnings in affiliates | — | 135.4 | 0.6 | — | 136 | Other income (expense) | 59 | 68.4 | (3.3 | ) | — | 124.1 | ||||||||||||||||||||||||||||||||||||||||
Net (loss) income | (746.0 | ) | 334.1 | 262.6 | (474.6 | ) | (623.9 | ) | Equity earnings from consolidated subsidiaries | 452.2 | 133.9 | — | (586.1 | ) | — | |||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 39.3 | 82.8 | 122.1 | (994.7 | ) | (116.6 | ) | (3.7 | ) | (586.1 | ) | (1,701.1 | ) | |||||||||||||||||||||||||||||||||||||
Net (loss) income attributable to First Data Corporation | $ | (746.0 | ) | $ | 334.1 | $ | 223.3 | $ | (557.4 | ) | $ | (746.0 | ) | (Loss) income before income taxes and equity earnings in affiliates | (1,107.7 | ) | 458 | 476.2 | (586.1 | ) | (759.6 | ) | ||||||||||||||||||||||||||||||
Comprehensive (loss) income | $ | (810.2 | ) | $ | 285.2 | $ | 200.2 | $ | (362.9 | ) | $ | (687.7 | ) | Income tax (benefit) expense | (591.6 | ) | 243.4 | 78.1 | — | (270.1 | ) | |||||||||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 39.7 | 82.8 | 122.5 | Equity earnings in affiliates | — | 153.6 | (0.2 | ) | — | 153.4 | ||||||||||||||||||||||||||||||||||||||||
Comprehensive (loss) income attributable to First Data Corporation | $ | (810.2 | ) | $ | 285.2 | $ | 160.5 | $ | (445.7 | ) | $ | (810.2 | ) | Net (loss) income | (516.1 | ) | 368.2 | 397.9 | (586.1 | ) | (336.1 | ) | ||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 59.6 | 120.4 | 180 | |||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2012 | Net (loss) income attributable to First Data Corporation | $ | (516.1 | ) | $ | 368.2 | $ | 338.3 | $ | (706.5 | ) | $ | (516.1 | ) | ||||||||||||||||||||||||||||||||||||||
(as corrected) | Comprehensive (loss) income | (477.6 | ) | 418.2 | 319 | (564.1 | ) | (304.5 | ) | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | Consolidated | Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 52.7 | 120.4 | 173.1 | |||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | Comprehensive (loss) income attributable to First Data Corporation | $ | (477.6 | ) | $ | 418.2 | $ | 266.3 | $ | (684.5 | ) | $ | (477.6 | ) | |||||||||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Transaction and processing service fees | $ | — | $ | 1,051.20 | $ | 608.8 | $ | (47.9 | ) | $ | 1,612.10 | Year ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||
Product sales and other | — | 144.6 | 88.2 | (15.3 | ) | 217.5 | (As Corrected) | |||||||||||||||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 610.7 | 234.9 | (1.2 | ) | 844.4 | (in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | ||||||||||||||||||||||||||||||||||||||||
— | 1,806.50 | 931.9 | (64.4 | ) | 2,674.00 | Company | Subsidiaries | Guarantor | Adjustments | |||||||||||||||||||||||||||||||||||||||||||
Expenses: | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of services (exclusive of items shown below) | — | 494.4 | 282.5 | (47.9 | ) | 729 | Revenues: | |||||||||||||||||||||||||||||||||||||||||||||
Cost of products sold | — | 62.2 | 33.2 | (15.3 | ) | 80.1 | Transaction and processing service fees | $ | — | $ | 4,001.70 | $ | 2,328.30 | $ | (148.5 | ) | $ | 6,181.50 | ||||||||||||||||||||||||||||||||||
Selling, general and administrative | 44.7 | 293.5 | 129.7 | — | 467.9 | Product sales and other | — | 542.6 | 319.3 | (52.6 | ) | 809.3 | ||||||||||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 610.7 | 234.9 | (1.2 | ) | 844.4 | Reimbursable debit network fees, postage and other | — | 2,299.80 | 1,160.30 | (70.5 | ) | 3,389.60 | |||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | 1.9 | 175.3 | 116.3 | — | 293.5 | — | 6,844.10 | 3,807.90 | (271.6 | ) | 10,380.40 | |||||||||||||||||||||||||||||||||||||||||
Other operating expenses: | Expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring, net | — | 5.7 | 1.5 | — | 7.2 | Cost of services (exclusive of items shown below) | — | 1,949.60 | 1,222.20 | (148.5 | ) | 3,023.30 | ||||||||||||||||||||||||||||||||||||||||
46.6 | 1,641.80 | 798.1 | (64.4 | ) | 2,422.10 | Cost of products sold | — | 257.8 | 170 | (52.6 | ) | 375.2 | ||||||||||||||||||||||||||||||||||||||||
Operating (loss) profit | (46.6 | ) | 164.7 | 133.8 | — | 251.9 | Selling, general and administrative | 264.7 | 877.2 | 437.8 | — | 1,579.70 | ||||||||||||||||||||||||||||||||||||||||
Interest income | — | — | 2.1 | — | 2.1 | Reimbursable debit network fees, postage and other | — | 2,299.80 | 1,160.30 | (70.5 | ) | 3,389.60 | ||||||||||||||||||||||||||||||||||||||||
Interest expense | (483.8 | ) | (2.3 | ) | (2.5 | ) | — | (488.6 | ) | Depreciation and amortization | 7.6 | 937.9 | 468.9 | — | 1,414.40 | |||||||||||||||||||||||||||||||||||||
Interest income (expense) from intercompany notes | 78.1 | (80.0 | ) | 1.9 | — | — | Other operating expenses: | |||||||||||||||||||||||||||||||||||||||||||||
Other income (expense) | (53.8 | ) | (8.7 | ) | 10.5 | — | (52.0 | ) | Restructuring, net | 12.7 | 46 | 13.3 | — | 72 | ||||||||||||||||||||||||||||||||||||||
Equity earnings from consolidated subsidiaries | 128.5 | 39.6 | — | (168.1 | ) | — | Impairments | — | 7.8 | 3.7 | — | 11.5 | ||||||||||||||||||||||||||||||||||||||||
(331.0 | ) | (51.4 | ) | 12 | (168.1 | ) | (538.5 | ) | Litigation and regulatory settlements | — | (2.0 | ) | — | — | (2.0 | ) | ||||||||||||||||||||||||||||||||||||
(Loss) income before income taxes and equity earnings in affiliates | (377.6 | ) | 113.3 | 145.8 | (168.1 | ) | (286.6 | ) | 285 | 6,374.10 | 3,476.20 | (271.6 | ) | 9,863.70 | ||||||||||||||||||||||||||||||||||||||
Income tax (benefit) expense | (165.6 | ) | 67.5 | 28.7 | — | (69.4 | ) | Operating (loss) profit | (285.0 | ) | 470 | 331.7 | — | 516.7 | ||||||||||||||||||||||||||||||||||||||
Equity earnings in affiliates | — | 42.7 | 0.3 | — | 43 | Interest income | 1 | 1.1 | 5.7 | — | 7.8 | |||||||||||||||||||||||||||||||||||||||||
Net (loss) income | (212.0 | ) | 88.5 | 117.4 | (168.1 | ) | (174.2 | ) | Interest expense | (1,775.2 | ) | (6.4 | ) | (15.0 | ) | — | (1,796.6 | ) | ||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interests | — | — | 14.9 | 22.9 | 37.8 | Interest income (expense) from intercompany notes | 230.3 | (249.7 | ) | 19.4 | — | — | ||||||||||||||||||||||||||||||||||||||||
Net (loss) income attributable to First Data Corporation | $ | (212.0 | ) | $ | 88.5 | $ | 102.5 | $ | (191.0 | ) | $ | (212.0 | ) | Other income (expense) | 2.8 | 31.8 | (24.5 | ) | (26.0 | ) | (15.9 | ) | ||||||||||||||||||||||||||||||
Comprehensive (loss) income | $ | (96.4 | ) | $ | 109.9 | $ | 209 | $ | (277.6 | ) | $ | (55.1 | ) | Equity earnings from consolidated subsidiaries | 249.8 | 150.2 | — | (400.0 | ) | — | ||||||||||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 18.4 | 22.9 | 41.3 | (1,291.3 | ) | (73.0 | ) | (14.4 | ) | (426.0 | ) | (1,804.7 | ) | |||||||||||||||||||||||||||||||||||||
Comprehensive (loss) income attributable to First Data Corporation | $ | (96.4 | ) | $ | 109.9 | $ | 190.6 | $ | (300.5 | ) | $ | (96.4 | ) | (Loss) income before income taxes and equity earnings in affiliates | (1,576.3 | ) | 397 | 317.3 | (426.0 | ) | (1,288.0 | ) | ||||||||||||||||||||||||||||||
Income tax (benefit) expense | (554.5 | ) | 124.3 | 106.4 | — | (323.8 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2012 | Equity earnings in affiliates | — | 117.7 | 1.5 | (1.9 | ) | 117.3 | |||||||||||||||||||||||||||||||||||||||||||||
(as corrected) | Net (loss) income | (1,021.8 | ) | 390.4 | 212.4 | (427.9 | ) | (846.9 | ) | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | Consolidated | Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 49.1 | 125.8 | 174.9 | |||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | Net (loss) income attributable to First Data Corporation | $ | (1,021.8 | ) | $ | 390.4 | $ | 163.3 | $ | (553.7 | ) | $ | (1,021.8 | ) | |||||||||||||||||||||||||||||||||||
Revenues: | Comprehensive (loss) income | (976.8 | ) | 399.5 | 207.2 | (435.1 | ) | (805.2 | ) | |||||||||||||||||||||||||||||||||||||||||||
Transaction and processing service fees | $ | — | $ | 3,112.50 | $ | 1,818.30 | $ | (143.2 | ) | $ | 4,787.60 | Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 46 | 125.8 | 171.8 | |||||||||||||||||||||||||||||||||||
Product sales and other | — | 423.9 | 258.5 | (44.5 | ) | 637.9 | Comprehensive (loss) income attributable to First Data Corporation | $ | (976.8 | ) | $ | 399.5 | $ | 161.2 | $ | (560.9 | ) | $ | (977.0 | ) | ||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 1,816.20 | 704.4 | (22.6 | ) | 2,498.00 | ||||||||||||||||||||||||||||||||||||||||||||||
— | 5,352.60 | 2,781.20 | (210.3 | ) | 7,923.50 | |||||||||||||||||||||||||||||||||||||||||||||||
Expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of services (exclusive of items shown below) | — | 1,361.10 | 919.9 | (143.2 | ) | 2,137.80 | ||||||||||||||||||||||||||||||||||||||||||||||
Cost of products sold | — | 192.1 | 103.7 | (44.5 | ) | 251.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Selling, general and administrative | 105.6 | 877.2 | 390.5 | — | 1,373.30 | |||||||||||||||||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 1,816.20 | 704.4 | (22.6 | ) | 2,498.00 | ||||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | 6 | 541.4 | 349.7 | — | 897.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Other operating expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring, net | (0.2 | ) | 7.3 | 17 | — | 24.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Impairments | — | 5.1 | — | — | 5.1 | |||||||||||||||||||||||||||||||||||||||||||||||
111.4 | 4,800.40 | 2,485.20 | (210.3 | ) | 7,186.70 | |||||||||||||||||||||||||||||||||||||||||||||||
Operating (loss) profit | (111.4 | ) | 552.2 | 296 | — | 736.8 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Other income (expense) | (78.7 | ) | (8.5 | ) | 4.4 | — | (82.8 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Equity earnings from consolidated subsidiaries | 375.9 | 121 | — | (496.9 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||||
(885.1 | ) | (132.9 | ) | 8 | (496.9 | ) | (1,506.9 | ) | ||||||||||||||||||||||||||||||||||||||||||||
(Loss) income before income taxes and equity earnings in affiliates | (996.5 | ) | 419.3 | 304 | (496.9 | ) | (770.1 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Income tax (benefit) expense | (474.6 | ) | 199.8 | 22.5 | — | (252.3 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Equity earnings in affiliates | — | 113.3 | 1.2 | — | 114.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | (521.9 | ) | 332.8 | 282.7 | (496.9 | ) | (403.3 | ) | ||||||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive (loss) income attributable to First Data Corporation | $ | (446.1 | ) | $ | 348 | $ | 235.2 | $ | (583.2 | ) | $ | (446.1 | ) | |||||||||||||||||||||||||||||||||||||||
Schedule of the financial position | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | Consolidated | As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | (in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | |||||||||||||||||||||||||||||||||||||||||||
ASSETS | Company | Subsidiaries | Guarantor | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 6.8 | $ | 32.2 | $ | 319.6 | $ | — | $ | 358.6 | ASSETS | |||||||||||||||||||||||||||||||||||||||||
Accounts receivable, net of allowance for doubtful accounts | 6.3 | 792.4 | 833.6 | — | 1,632.30 | Current assets: | ||||||||||||||||||||||||||||||||||||||||||||||
Settlement assets (a) | — | 4,858.00 | 4,323.70 | — | 9,181.70 | Cash and cash equivalents | $ | 228 | $ | 37.2 | $ | 343.1 | $ | — | $ | 608.3 | ||||||||||||||||||||||||||||||||||||
Intercompany notes receivable | 12.5 | — | 22.6 | (35.1 | ) | — | Accounts receivable, net of allowance for doubtful accounts | 4.4 | 879.7 | 963.6 | — | 1,847.70 | ||||||||||||||||||||||||||||||||||||||||
Other current assets | 71 | 205.9 | 74.8 | — | 351.7 | Settlement assets (a) | — | 5,097.10 | 4,076.70 | — | 9,173.80 | |||||||||||||||||||||||||||||||||||||||||
Total current assets | 96.6 | 5,888.50 | 5,574.30 | (35.1 | ) | 11,524.30 | Intercompany notes receivable | — | — | 30.8 | (30.8 | ) | — | |||||||||||||||||||||||||||||||||||||||
Property and equipment, net of accumulated depreciation | 28.4 | 592.8 | 245.7 | — | 866.9 | Other current assets | 73 | 145.3 | 35.3 | — | 253.6 | |||||||||||||||||||||||||||||||||||||||||
Goodwill | — | 9,483.90 | 7,748.10 | — | 17,232.00 | Total current assets | 305.4 | 6,159.30 | 5,449.50 | (30.8 | ) | 11,883.40 | ||||||||||||||||||||||||||||||||||||||||
Customer relationships, net of accumulated amortization | — | 1,838.60 | 1,484.00 | — | 3,322.60 | Property and equipment, net of accumulated depreciation | 30.7 | 561.4 | 263.7 | — | 855.8 | |||||||||||||||||||||||||||||||||||||||||
Other intangibles, net of accumulated amortization | 604.5 | 556.2 | 566.2 | — | 1,726.90 | Goodwill | — | 9,485.30 | 7,797.20 | — | 17,282.50 | |||||||||||||||||||||||||||||||||||||||||
Investment in affiliates | — | 1,308.50 | 30.2 | — | 1,338.70 | Customer relationships, net of accumulated amortization | — | 2,071.70 | 1,684.60 | — | 3,756.30 | |||||||||||||||||||||||||||||||||||||||||
Long-term settlement assets (a) | — | — | 18.6 | — | 18.6 | Other intangibles, net of accumulated amortization | 605 | 619.7 | 603.9 | — | 1,828.60 | |||||||||||||||||||||||||||||||||||||||||
Long-term intercompany receivables | — | 6,336.90 | 1,296.40 | (7,633.3 | ) | — | Investment in affiliates | — | 1,375.20 | 37.9 | — | 1,413.10 | ||||||||||||||||||||||||||||||||||||||||
Long-term intercompany notes receivable | 3,496.60 | 284.1 | 0.4 | (3,781.1 | ) | — | Long-term settlement assets (a) | — | — | 54.3 | — | 54.3 | ||||||||||||||||||||||||||||||||||||||||
Long-term deferred tax assets | 930.9 | — | — | (930.9 | ) | — | Long-term intercompany receivables | — | 5,501.30 | 1,141.10 | (6,642.4 | ) | — | |||||||||||||||||||||||||||||||||||||||
Other long-term assets | 373.5 | 405.2 | 144.4 | (109.4 | ) | 813.7 | Long-term intercompany notes receivable | 3,397.30 | 270 | 8.4 | (3,675.7 | ) | — | |||||||||||||||||||||||||||||||||||||||
Investment in consolidated subsidiaries | 24,665.80 | 5,312.60 | — | (29,978.4 | ) | — | Other long-term assets | 427.1 | 373.5 | 108.2 | (83.8 | ) | 825 | |||||||||||||||||||||||||||||||||||||||
Total assets | $ | 30,196.30 | $ | 32,007.30 | $ | 17,108.30 | $ | (42,468.2 | ) | $ | 36,843.70 | Investment in consolidated subsidiaries | 24,257.20 | 5,379.50 | — | (29,636.7 | ) | — | ||||||||||||||||||||||||||||||||||
LIABILITIES AND EQUITY | Total assets | $ | 29,022.70 | $ | 31,796.90 | $ | 17,148.80 | $ | (40,069.4 | ) | $ | 37,899.00 | ||||||||||||||||||||||||||||||||||||||||
Current liabilities: | LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts payable | $ | 5.2 | $ | 171.1 | $ | 78.3 | $ | — | $ | 254.6 | Current liabilities: | |||||||||||||||||||||||||||||||||||||||||
Short-term and current portion of long-term borrowings | 95.5 | 65.7 | 87.1 | — | 248.3 | Accounts payable | $ | 13.8 | $ | 141.8 | $ | 105.3 | $ | — | $ | 260.9 | ||||||||||||||||||||||||||||||||||||
Settlement obligations (a) | — | 4,858.00 | 4,339.60 | — | 9,197.60 | Short-term and current portion of long-term borrowings | 15.1 | 55.1 | 186.9 | — | 257.1 | |||||||||||||||||||||||||||||||||||||||||
Intercompany notes payable | 22.7 | 12.5 | — | (35.2 | ) | — | Settlement obligations (a) | — | 5,097.10 | 4,129.20 | — | 9,226.30 | ||||||||||||||||||||||||||||||||||||||||
Other current liabilities | 471 | 567.8 | 332.3 | — | 1,371.10 | Intercompany notes payable | 30.8 | — | — | (30.8 | ) | — | ||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 594.4 | 5,675.10 | 4,837.30 | (35.2 | ) | 11,071.60 | Other current liabilities | 608.1 | 620.3 | 372.2 | — | 1,600.60 | ||||||||||||||||||||||||||||||||||||||||
Long-term borrowings | 22,460.90 | 91.7 | 12.5 | — | 22,565.10 | Total current liabilities | 667.8 | 5,914.30 | 4,793.60 | (30.8 | ) | 11,344.90 | ||||||||||||||||||||||||||||||||||||||||
Long-term deferred tax liabilities | — | 1,291.50 | 192.5 | (930.9 | ) | 553.1 | Long-term borrowings | 22,462.30 | 47.8 | 18.8 | — | 22,528.90 | ||||||||||||||||||||||||||||||||||||||||
Long-term intercompany payables | 7,633.30 | — | — | (7,633.3 | ) | — | Long-term deferred tax (assets) liabilities | (1,079.7 | ) | 1,512.70 | 76.5 | — | 509.5 | |||||||||||||||||||||||||||||||||||||||
Long-term intercompany notes payable | 286.1 | 3,413.00 | 81.9 | (3,781.0 | ) | — | Long-term intercompany payables | 6,642.40 | — | — | (6,642.4 | ) | — | |||||||||||||||||||||||||||||||||||||||
Other long-term liabilities | 617.2 | 226.6 | 51.7 | (109.4 | ) | 786.1 | Long-term intercompany notes payable | 276.7 | 3,315.60 | 83.4 | (3,675.7 | ) | — | |||||||||||||||||||||||||||||||||||||||
Total liabilities | 31,591.90 | 10,697.90 | 5,175.90 | (12,489.8 | ) | 34,975.90 | Other long-term liabilities | 651.7 | 222.7 | 31.3 | (83.8 | ) | 821.9 | |||||||||||||||||||||||||||||||||||||||
Redeemable equity interest | — | — | 67.9 | (67.9 | ) | — | Total liabilities | 29,621.20 | 11,013.10 | 5,003.60 | (10,432.7 | ) | 35,205.20 | |||||||||||||||||||||||||||||||||||||||
Redeemable noncontrolling interest | — | — | — | 67.9 | 67.9 | Redeemable equity interest | — | — | 67.4 | (67.4 | ) | — | ||||||||||||||||||||||||||||||||||||||||
First Data Corporation stockholder’s (deficit) equity | (1,395.6 | ) | 21,309.40 | 5,457.10 | (26,766.5 | ) | (1,395.6 | ) | Redeemable noncontrolling interest | — | — | — | 67.4 | 67.4 | ||||||||||||||||||||||||||||||||||||||
Noncontrolling interests | — | — | 84.2 | 3,111.30 | 3,195.50 | First Data Corporation stockholder’s equity | (598.5 | ) | 20,783.80 | 5,598.90 | (26,382.7 | ) | (598.5 | ) | ||||||||||||||||||||||||||||||||||||||
Equity of consolidated alliance | — | — | 6,323.20 | (6,323.2 | ) | — | Noncontrolling interests | — | — | 70.5 | 3,154.40 | 3,224.90 | ||||||||||||||||||||||||||||||||||||||||
Total equity | (1,395.6 | ) | 21,309.40 | 11,864.50 | (29,978.4 | ) | 1,799.90 | Equity of consolidated alliance | — | — | 6,408.40 | (6,408.4 | ) | — | ||||||||||||||||||||||||||||||||||||||
Total liabilities and equity | $ | 30,196.30 | $ | 32,007.30 | $ | 17,108.30 | $ | (42,468.2 | ) | $ | 36,843.70 | 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 | |||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | As of December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Guarantor | Adjustments | (As Corrected) | ||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | (in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||||
ASSETS | Company | Subsidiaries | Guarantor | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 228 | $ | 37.2 | $ | 343.1 | $ | — | $ | 608.3 | ASSETS | |||||||||||||||||||||||||||||||||||||||||
Accounts receivable, net of allowance for doubtful accounts | 4.4 | 879.7 | 963.6 | — | 1,847.70 | Current assets: | ||||||||||||||||||||||||||||||||||||||||||||||
Settlement assets (a) | — | 5,097.10 | 4,076.70 | — | 9,173.80 | Cash and cash equivalents | $ | 162.2 | $ | 37.1 | $ | 286.4 | $ | — | $ | 485.7 | ||||||||||||||||||||||||||||||||||||
Intercompany notes receivable | — | — | 30.8 | (30.8 | ) | — | Accounts receivable, net of allowance for doubtful accounts | 25.3 | 939.4 | 883.9 | — | 1,848.60 | ||||||||||||||||||||||||||||||||||||||||
Other current assets | 73 | 145.3 | 35.3 | — | 253.6 | Settlement assets (a) | — | 6,093.20 | 4,565.10 | — | 10,658.30 | |||||||||||||||||||||||||||||||||||||||||
Total current assets | 305.4 | 6,159.30 | 5,449.50 | (30.8 | ) | 11,883.40 | Intercompany notes receivable | 12.2 | — | 86.1 | (98.3 | ) | — | |||||||||||||||||||||||||||||||||||||||
Property and equipment, net of accumulated depreciation | 30.7 | 561.4 | 263.7 | — | 855.8 | Other current assets | 45.7 | 212 | 65.2 | — | 322.9 | |||||||||||||||||||||||||||||||||||||||||
Goodwill | — | 9,485.30 | 7,797.20 | — | 17,282.50 | Total current assets | 245.4 | 7,281.70 | 5,886.70 | (98.3 | ) | 13,315.50 | ||||||||||||||||||||||||||||||||||||||||
Customer relationships, net of accumulated amortization | — | 2,071.70 | 1,684.60 | — | 3,756.30 | Property and equipment, net of accumulated depreciation | 31.4 | 623.5 | 281 | — | 935.9 | |||||||||||||||||||||||||||||||||||||||||
Other intangibles, net of accumulated amortization | 605 | 619.7 | 603.9 | — | 1,828.60 | Goodwill | — | 9,430.90 | 7,773.70 | — | 17,204.60 | |||||||||||||||||||||||||||||||||||||||||
Investment in affiliates | — | 1,375.20 | 37.9 | — | 1,413.10 | Customer relationships, net of accumulated amortization | — | 2,468.40 | 1,957.00 | — | 4,425.40 | |||||||||||||||||||||||||||||||||||||||||
Long-term settlement assets (a) | — | — | 54.3 | — | 54.3 | Other intangibles, net of accumulated amortization | 606.8 | 638.7 | 633.7 | — | 1,879.20 | |||||||||||||||||||||||||||||||||||||||||
Long-term intercompany receivables | — | 5,501.30 | 1,141.10 | (6,642.4 | ) | — | Investment in affiliates | — | 1,452.80 | 37.8 | — | 1,490.60 | ||||||||||||||||||||||||||||||||||||||||
Long-term intercompany notes receivable | 3,397.30 | 270 | 8.4 | (3,675.7 | ) | — | Long-term settlement assets (a) | — | — | 181 | — | 181 | ||||||||||||||||||||||||||||||||||||||||
Long-term deferred tax assets | 1,028.00 | — | — | (1,028.0 | ) | — | Long-term intercompany receivables | — | 4,330.20 | 962.7 | (5,292.9 | ) | — | |||||||||||||||||||||||||||||||||||||||
Other long-term assets | 427.1 | 373.5 | 108.2 | (83.8 | ) | 825 | Long-term intercompany notes receivable | 3,229.40 | 251.5 | 59 | (3,539.9 | ) | — | |||||||||||||||||||||||||||||||||||||||
Investment in consolidated subsidiaries | 24,308.90 | 5,379.50 | — | (29,688.4 | ) | — | Other long-term assets | 465.7 | 304.3 | 74.1 | — | 844.1 | ||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 30,102.40 | $ | 31,796.90 | $ | 17,148.80 | $ | (41,149.1 | ) | $ | 37,899.00 | Investment in consolidated subsidiaries | 23,797.40 | 5,843.00 | — | (29,640.4 | ) | — | ||||||||||||||||||||||||||||||||||
LIABILITIES AND EQUITY | Total assets | $ | 28,376.10 | $ | 32,625.00 | $ | 17,846.70 | $ | (38,571.5 | ) | $ | 40,276.30 | ||||||||||||||||||||||||||||||||||||||||
Current liabilities: | LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts payable | $ | 13.8 | $ | 141.8 | $ | 105.3 | $ | — | $ | 260.9 | Current liabilities: | |||||||||||||||||||||||||||||||||||||||||
Short-term and current portion of long-term borrowings | 15.1 | 55.1 | 186.9 | — | 257.1 | Accounts payable | $ | 7.1 | $ | 113.4 | $ | 85.4 | $ | — | $ | 205.9 | ||||||||||||||||||||||||||||||||||||
Settlement obligations (a) | — | 5,097.10 | 4,129.20 | — | 9,226.30 | Short-term and current portion of long-term borrowings | 0.3 | 39.6 | 93.5 | — | 133.4 | |||||||||||||||||||||||||||||||||||||||||
Intercompany notes payable | 30.8 | — | — | (30.8 | ) | — | Settlement obligations (a) | — | 6,093.20 | 4,744.60 | — | 10,837.80 | ||||||||||||||||||||||||||||||||||||||||
Other current liabilities | 608.1 | 620.3 | 372.2 | — | 1,600.60 | Intercompany notes payable | 62.5 | 35.8 | — | (98.3 | ) | — | ||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 667.8 | 5,914.30 | 4,793.60 | (30.8 | ) | 11,344.90 | Other current liabilities | 690.5 | 544.5 | 408.1 | — | 1,643.10 | ||||||||||||||||||||||||||||||||||||||||
Long-term borrowings | 22,462.30 | 47.8 | 18.8 | — | 22,528.90 | Total current liabilities | 760.4 | 6,826.50 | 5,331.60 | (98.3 | ) | 12,820.20 | ||||||||||||||||||||||||||||||||||||||||
Long-term deferred tax liabilities | — | 1,445.10 | 92.4 | (1,028.0 | ) | 509.5 | Long-term borrowings | 22,422.40 | 69 | 30.3 | — | 22,521.70 | ||||||||||||||||||||||||||||||||||||||||
Long-term intercompany payables | 6,642.40 | — | — | (6,642.4 | ) | — | Long-term deferred tax (assets) liabilities | (1,091.6 | ) | 1,677.50 | 109.5 | — | 695.4 | |||||||||||||||||||||||||||||||||||||||
Long-term intercompany notes payable | 276.7 | 3,315.60 | 83.4 | (3,675.7 | ) | — | Long-term intercompany payables | 5,292.90 | — | — | (5,292.9 | ) | — | |||||||||||||||||||||||||||||||||||||||
Other long-term liabilities | 651.7 | 222.7 | 31.3 | (83.8 | ) | 821.9 | Long-term intercompany notes payable | 260.6 | 3,196.80 | 82.5 | (3,539.9 | ) | — | |||||||||||||||||||||||||||||||||||||||
Total liabilities | 30,700.90 | 10,945.50 | 5,019.50 | (11,460.7 | ) | 35,205.20 | Other long-term liabilities | 634.8 | 100.1 | 28.7 | — | 763.6 | ||||||||||||||||||||||||||||||||||||||||
Redeemable equity interest | — | — | 67.4 | (67.4 | ) | — | Total liabilities | 28,279.50 | 11,869.90 | 5,582.60 | (8,931.1 | ) | 36,800.90 | |||||||||||||||||||||||||||||||||||||||
Redeemable noncontrolling interest | — | — | — | 67.4 | 67.4 | Redeemable equity interest | — | — | 67.4 | (67.4 | ) | — | ||||||||||||||||||||||||||||||||||||||||
First Data Corporation stockholder’s (deficit) equity | (598.5 | ) | 20,851.40 | 5,583.00 | (26,434.4 | ) | (598.5 | ) | Redeemable noncontrolling interest | — | — | — | 67.4 | 67.4 | ||||||||||||||||||||||||||||||||||||||
Noncontrolling interests | — | — | 70.5 | 3,154.40 | 3,224.90 | First Data Corporation stockholder’s equity | 96.6 | 20,755.10 | 5,534.40 | (26,289.5 | ) | 96.6 | ||||||||||||||||||||||||||||||||||||||||
Equity of consolidated alliance | — | — | 6,408.40 | (6,408.4 | ) | — | Noncontrolling interests | — | — | 60.8 | 3,250.60 | 3,311.40 | ||||||||||||||||||||||||||||||||||||||||
Total equity | (598.5 | ) | 20,851.40 | 12,061.90 | (29,688.4 | ) | 2,626.40 | Equity of consolidated alliance | — | — | 6,601.50 | (6,601.5 | ) | — | ||||||||||||||||||||||||||||||||||||||
Total liabilities and equity | $ | 30,102.40 | $ | 31,796.90 | $ | 17,148.80 | $ | (41,149.1 | ) | $ | 37,899.00 | 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of the cash flows | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||
(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 | |||||||||||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | $ | (746.0 | ) | $ | 334.1 | $ | 262.6 | $ | (474.6 | ) | $ | (623.9 | ) | 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: | 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) | 5.5 | 568.5 | 334.1 | — | 908.1 | 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) | 47.2 | 19.9 | (0.2 | ) | — | 66.9 | 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 | (303.8 | ) | (173.9 | ) | (2.0 | ) | 474.6 | (5.1 | ) | 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 | (356.7 | ) | 215.1 | 127.6 | — | (14.0 | ) | (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 | (1,353.8 | ) | 963.7 | 722.1 | — | 332 | Net cash (used in) provided by operating activities | (1,536.6 | ) | 1,561.70 | 742.3 | — | 767.4 | |||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||||||||||||||||||||||||||||||||||||||||||
Payments related to other business previously acquired | — | 0.2 | — | — | 0.2 | Current year acquisitions, net of cash acquired | (33.0 | ) | 0.1 | — | — | (32.9 | ) | |||||||||||||||||||||||||||||||||||||||
Proceeds from dispositions, net of expenses paid and cash disposed | — | 6.8 | 7.7 | — | 14.5 | Contributions to equity method investments | — | (7.9 | ) | — | — | (7.9 | ) | |||||||||||||||||||||||||||||||||||||||
Additions to property and equipment | (0.1 | ) | (63.6 | ) | (68.6 | ) | — | (132.3 | ) | Payments related to other businesses previously acquired | — | (4.4 | ) | — | — | (4.4 | ) | |||||||||||||||||||||||||||||||||||
Proceeds from sale of property and equipment | — | 4.1 | 0.1 | — | 4.2 | Proceeds from sale of property and equipment | — | 7.1 | 0.9 | — | 8 | |||||||||||||||||||||||||||||||||||||||||
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | (0.4 | ) | (91.4 | ) | (36.2 | ) | — | (128.0 | ) | Additions to property and equipment | (2.6 | ) | (88.9 | ) | (101.6 | ) | — | (193.1 | ) | |||||||||||||||||||||||||||||||||
Distributions and dividends from subsidiaries | 146.5 | 131.5 | — | (278.0 | ) | — | 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 | 0.3 | 6 | 0.9 | — | 7.2 | Other investing activities | 228.3 | 219 | 6.7 | (443.6 | ) | 10.4 | ||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 146.3 | (6.4 | ) | (96.1 | ) | (278.0 | ) | (234.2 | ) | Net cash provided by (used in) investing activities | 191.9 | (12.8 | ) | (132.6 | ) | (443.6 | ) | (397.1 | ) | |||||||||||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term borrowings, net | 95 | — | (98.1 | ) | — | (3.1 | ) | Short-term borrowings, net | — | — | 99.1 | — | 99.1 | |||||||||||||||||||||||||||||||||||||||
Accrued interest funded upon issuance of notes | (6.5 | ) | — | — | — | (6.5 | ) | Accrued interest funded upon issuance of notes | 6.5 | — | — | — | 6.5 | |||||||||||||||||||||||||||||||||||||||
Debt modification (payments) proceeds and related financing costs, net | (49.0 | ) | — | — | — | (49.0 | ) | Debt modification proceeds and related financing costs | 10.8 | — | — | — | 10.8 | |||||||||||||||||||||||||||||||||||||||
Principal payments on long-term debt | (15.4 | ) | (49.9 | ) | (7.1 | ) | — | (72.4 | ) | Principal payments on long-term debt | (3.4 | ) | (56.2 | ) | (23.7 | ) | — | (83.3 | ) | |||||||||||||||||||||||||||||||||
Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interest | — | — | (30.6 | ) | (125.9 | ) | (156.5 | ) | Proceeds from sale-leaseback transactions | — | 13.8 | — | — | 13.8 | ||||||||||||||||||||||||||||||||||||||
Distributions paid to equity holders | — | — | (257.4 | ) | 257.4 | — | Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interests | — | — | (54.0 | ) | (207.9 | ) | (261.9 | ) | |||||||||||||||||||||||||||||||||||||
Redemption of Parent’s redeemable common stock | (7.5 | ) | — | — | — | (7.5 | ) | Distributions paid to equity holders | — | — | (424.0 | ) | 424 | — | ||||||||||||||||||||||||||||||||||||||
Purchase of noncontrolling interest | — | — | (23.7 | ) | — | (23.7 | ) | Purchase of noncontrolling interest | — | — | (25.1 | ) | — | (25.1 | ) | |||||||||||||||||||||||||||||||||||||
Cash dividends | (21.5 | ) | — | (146.5 | ) | 146.5 | (21.5 | ) | Redemption of Parent’s redeemable common stock | (1.7 | ) | — | — | — | (1.7 | ) | ||||||||||||||||||||||||||||||||||||
Intercompany | 991.2 | (914.0 | ) | (77.2 | ) | — | — | Cash dividends | (6.7 | ) | — | (227.5 | ) | 227.5 | (6.7 | ) | ||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 986.3 | (963.9 | ) | (640.6 | ) | 278 | (340.2 | ) | Intercompany | 1,405.00 | (1,502.2 | ) | 97.2 | — | — | |||||||||||||||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | 1.6 | (8.9 | ) | — | (7.3 | ) | Net cash provided by (used in) financing activities | 1,410.50 | (1,544.6 | ) | (558.0 | ) | 443.6 | (248.5 | ) | ||||||||||||||||||||||||||||||||||||
Change in cash and cash equivalents | (221.2 | ) | (5.0 | ) | (23.5 | ) | — | (249.7 | ) | Effect of exchange rate changes on cash and cash equivalents | — | (4.2 | ) | 5 | — | 0.8 | ||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 228 | 37.2 | 343.1 | — | 608.3 | Change in cash and cash equivalents | 65.8 | 0.1 | 56.7 | — | 122.6 | |||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 6.8 | $ | 32.2 | $ | 319.6 | $ | — | $ | 358.6 | 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 | ||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(As Corrected) | Year ended December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | (As Corrected) | ||||||||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Guarantor | Adjustments | (in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Company | Subsidiaries | Guarantor | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | $ | (521.9 | ) | $ | 332.8 | $ | 282.7 | $ | (496.9 | ) | $ | (403.3 | ) | CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||
Adjustments to reconcile to net cash (used in) provided by operating activities: | Net (loss) income | $ | (516.1 | ) | $ | 368.2 | $ | 397.9 | $ | (586.1 | ) | $ | (336.1 | ) | ||||||||||||||||||||||||||||||||||||||
Depreciation and amortization (including amortization netted against equity earnings in affiliates and revenues) | 6 | 638.4 | 359.7 | — | 1,004.10 | Adjustments to reconcile to net cash (used in) provided by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||
Charges related to other operating expenses and other income (expense) | 78.5 | 20.9 | 12.7 | — | 112.1 | Depreciation and amortization (including amortization netted against equity earnings in affiliates and revenues) | 8.3 | 827.4 | 508.5 | — | 1,344.20 | |||||||||||||||||||||||||||||||||||||||||
Other non-cash and non-operating items, net | (346.1 | ) | (194.1 | ) | 5.5 | 496.9 | (37.8 | ) | (Gains) charges related to other operating expenses and other income (expense) | (59.6 | ) | (45.3 | ) | 27.2 | — | (77.7 | ) | |||||||||||||||||||||||||||||||||||
(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 | ) | Other non-cash and non-operating items, net | (360.3 | ) | (209.5 | ) | 11.4 | 586.1 | 27.7 | ||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | (1,267.3 | ) | 1,145.20 | 660.3 | — | 538.2 | (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 | |||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | Net cash (used in) provided by operating activities | (1,254.7 | ) | 1,324.60 | 1,045.70 | — | 1,115.60 | |||||||||||||||||||||||||||||||||||||||||||||
Current period acquisitions | — | (1.9 | ) | — | — | (1.9 | ) | CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||
Contributions to equity method investments | — | (7.9 | ) | — | — | (7.9 | ) | Current year acquisitions, net of cash acquired | — | (19.1 | ) | (0.1 | ) | — | (19.2 | ) | ||||||||||||||||||||||||||||||||||||
Payments related to other businesses previously acquired | — | (3.2 | ) | — | — | (3.2 | ) | Contributions to equity method investments | — | (161.5 | ) | — | — | (161.5 | ) | |||||||||||||||||||||||||||||||||||||
Additions to property and equipment | (1.7 | ) | (67.3 | ) | (67.3 | ) | — | (136.3 | ) | Payments related to other businesses previously acquired | — | — | 3.2 | — | 3.2 | |||||||||||||||||||||||||||||||||||||
Proceeds from sale of property and equipment | — | 6.9 | 0.9 | — | 7.8 | Proceeds from dispositions, net of expenses paid and cash disposed | — | — | 1.7 | — | 1.7 | |||||||||||||||||||||||||||||||||||||||||
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | (0.7 | ) | (117.1 | ) | (23.4 | ) | — | (141.2 | ) | Proceeds from sale of property and equipment | — | 14.3 | 2.8 | — | 17.1 | |||||||||||||||||||||||||||||||||||||
Distributions and dividends from subsidiaries | 87 | 161.6 | — | (248.6 | ) | — | Additions to property and equipment | (4.6 | ) | (101.3 | ) | (97.0 | ) | — | (202.9 | ) | ||||||||||||||||||||||||||||||||||||
Other investing activities | 1.9 | 0.5 | 4.9 | — | 7.3 | Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | (1.0 | ) | (161.6 | ) | (39.3 | ) | — | (201.9 | ) | |||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 86.5 | (28.4 | ) | (84.9 | ) | (248.6 | ) | (275.4 | ) | Distributions and dividends from subsidiaries | 109.7 | 294.5 | — | (404.2 | ) | — | ||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | Other investing activities | 1.5 | 6.9 | (3.5 | ) | — | 4.9 | |||||||||||||||||||||||||||||||||||||||||||||
Short-term borrowings, net | — | — | (22.0 | ) | — | (22.0 | ) | Net cash provided by (used in) investing activities | 105.6 | (127.8 | ) | (132.2 | ) | (404.2 | ) | (558.6 | ) | |||||||||||||||||||||||||||||||||||
Accrued interest funded upon issuance of notes | 6.5 | — | — | — | 6.5 | CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||
Debt modification proceeds and related financing costs, net | 10.8 | — | — | — | 10.8 | Short-term borrowings, net | — | — | (107.3 | ) | — | (107.3 | ) | |||||||||||||||||||||||||||||||||||||||
Principal payments on long-term debt | (0.2 | ) | (44.9 | ) | (15.1 | ) | — | (60.2 | ) | Debt modification and related financing costs | (39.7 | ) | — | — | — | (39.7 | ) | |||||||||||||||||||||||||||||||||||
Proceeds from sale-leaseback transactions | — | 13.8 | — | — | 13.8 | Principal payments on long-term debt | (32.9 | ) | (52.7 | ) | (18.9 | ) | — | (104.5 | ) | |||||||||||||||||||||||||||||||||||||
Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interest | — | — | (45.4 | ) | (153.6 | ) | (199.0 | ) | Proceeds from sale-leaseback transactions | — | 2.5 | 11.7 | — | 14.2 | ||||||||||||||||||||||||||||||||||||||
Distributions paid to equity holders | — | — | (313.2 | ) | 313.2 | — | Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interests | — | — | (44.2 | ) | (283.1 | ) | (327.3 | ) | |||||||||||||||||||||||||||||||||||||
Redemption of Parent’s redeemable common stock | (0.5 | ) | — | — | — | (0.5 | ) | Contributions from noncontrolling interest | — | — | 0.8 | — | 0.8 | |||||||||||||||||||||||||||||||||||||||
Purchase of noncontrolling interest | — | — | (25.1 | ) | — | (25.1 | ) | Distributions paid to equity holders | — | — | (577.6 | ) | 577.6 | — | ||||||||||||||||||||||||||||||||||||||
Cash dividends | (5.1 | ) | — | (89.0 | ) | 89 | (5.1 | ) | Redemption of Parent’s redeemable common stock | (0.5 | ) | — | — | — | (0.5 | ) | ||||||||||||||||||||||||||||||||||||
Intercompany | 1,137.10 | (1,098.2 | ) | (38.9 | ) | — | — | Cash dividends | (0.2 | ) | — | (109.7 | ) | 109.7 | (0.2 | ) | ||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 1,148.60 | (1,129.3 | ) | (548.7 | ) | 248.6 | (280.8 | ) | Intercompany | 1,220.50 | (1,116.4 | ) | (104.1 | ) | — | — | ||||||||||||||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | (4.0 | ) | 6.5 | — | 2.5 | Net cash provided by (used in) financing activities | 1,147.20 | (1,166.6 | ) | (949.3 | ) | 404.2 | (564.5 | ) | |||||||||||||||||||||||||||||||||||||
Change in cash and cash equivalents | (32.2 | ) | (16.5 | ) | 33.2 | — | (15.5 | ) | Effect of exchange rate changes on cash and cash equivalents | — | (14.2 | ) | (2.1 | ) | — | (16.3 | ) | |||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 162.2 | 37.1 | 286.4 | — | 485.7 | Change in cash and cash equivalents | (1.9 | ) | 16 | (37.9 | ) | — | (23.8 | ) | ||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 130 | $ | 20.6 | $ | 319.6 | $ | — | $ | 470.2 | Cash and cash equivalents at beginning of period | 164.1 | 21.1 | 324.3 | — | 509.5 | ||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 162.2 | $ | 37.1 | $ | 286.4 | $ | — | $ | 485.7 | ||||||||||||||||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | (1,506.3 | ) | 1,306.50 | 957.5 | (3.0 | ) | 754.7 | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 223.7 | 91.4 | (96.1 | ) | (548.2 | ) | (329.2 | ) | ||||||||||||||||||||||||||||||||||||||||||||
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 | ) | — | — | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Change in cash and cash equivalents | 59.5 | (4.3 | ) | (282.7 | ) | — | (227.5 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 104.6 | 25.4 | 607 | — | 737 | |||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 164.1 | $ | 21.1 | $ | 324.3 | $ | — | $ | 509.5 | ||||||||||||||||||||||||||||||||||||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Presentation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of initial payments for new contracts | $10,400,000 | ' | $12,000,000 | ' | ' | ' | ' | ' | ' | $30,700,000 | $33,700,000 | $44,500,000 | $42,500,000 | $38,600,000 |
Amortization related to equity method investments | 19,700,000 | ' | 21,400,000 | ' | ' | ' | ' | ' | ' | 59,200,000 | 73,300,000 | 94,800,000 | 56,700,000 | 73,000,000 |
Presentation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net pretax benefit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -751,300,000 | -606,200,000 | -1,170,700,000 |
Net benefit after tax | -180,300,000 | -124,000,000 | -174,200,000 | -115,000,000 | -114,100,000 | -13,600,000 | -9,800,000 | -128,200,000 | -184,500,000 | -623,900,000 | -403,300,000 | -527,300,000 | -336,100,000 | -846,900,000 |
Cost of services (exclusive of items shown below) | 708,600,000 | ' | 729,000,000 | ' | ' | ' | ' | ' | ' | 2,119,200,000 | 2,137,800,000 | 2,863,500,000 | 2,888,400,000 | 3,023,300,000 |
Depreciation and amortization | 271,300,000 | ' | 293,500,000 | ' | ' | ' | ' | ' | ' | 818,200,000 | 897,100,000 | 1,191,600,000 | 1,245,000,000 | 1,414,400,000 |
Equity earnings in affiliates | 47,300,000 | 43,700,000 | 43,000,000 | 44,000,000 | 27,500,000 | 44,400,000 | 47,800,000 | 33,500,000 | 27,700,000 | 136,000,000 | 114,500,000 | 158,200,000 | 153,400,000 | 117,300,000 |
Revenue Recognition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interchange fees and assessments | 4,925,000,000 | ' | 4,669,400,000 | ' | ' | ' | ' | ' | ' | 14,319,700,000 | 13,588,300,000 | 18,373,000,000 | 18,826,100,000 | 17,834,800,000 |
Debit network fees | 727,900,000 | ' | 702,000,000 | ' | ' | ' | ' | ' | ' | 2,157,000,000 | 2,070,900,000 | 2,786,300,000 | 2,959,100,000 | 2,798,300,000 |
Reserve for Merchant Credit Losses and Check Guarantees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reserve for merchant credit losses and check guarantees | ' | 23,400,000 | ' | ' | ' | 31,600,000 | ' | ' | ' | ' | ' | 23,400,000 | 31,600,000 | ' |
Accrued warranty balances | ' | 10,900,000 | ' | ' | ' | 11,400,000 | ' | ' | ' | ' | ' | 10,900,000 | 11,400,000 | ' |
Accrued recovery balances | ' | 24,800,000 | ' | ' | ' | 26,800,000 | ' | ' | ' | ' | ' | 24,800,000 | 26,800,000 | ' |
Estimate of maximum potential future payments under the guarantees | ' | 1,300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000,000 | ' | ' |
Depreciation and amortization errors related to purchase accounting | Restatement adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Presentation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net pretax benefit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58,500,000 | ' |
Net benefit after tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35,200,000 | ' |
Cost of services (exclusive of items shown below) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,200,000 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -57,700,000 | ' |
Equity earnings in affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11,000,000 | ' |
Occurrence period of errors and cumulative correction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Details 2) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Property and equipment | ' | ' | ' |
Depreciation, Depletion and Amortization | $284.50 | $292.10 | $320.40 |
Equipment, furniture and leasehold improvements | Minimum | ' | ' | ' |
Property and equipment | ' | ' | ' |
Estimated useful life | '3 years | ' | ' |
Equipment, furniture and leasehold improvements | Maximum | ' | ' | ' |
Property and equipment | ' | ' | ' |
Estimated useful life | '10 years | ' | ' |
Buildings | ' | ' | ' |
Property and equipment | ' | ' | ' |
Estimated useful life | '30 years | ' | ' |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies (Details 3) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Intangible assets | ' | ' | ' |
Amortization expense | $1,046.40 | $1,052.10 | $1,205.60 |
Estimated future aggregate amortization expense | ' | ' | ' |
2013 | 833.7 | ' | ' |
2014 | 748 | ' | ' |
2015 | 662.7 | ' | ' |
2016 | 507.5 | ' | ' |
2017 | 427.9 | ' | ' |
Investment Securities | ' | ' | ' |
Minimum period of equity securities for determining an other than temporary decline in value | '6 months | ' | ' |
Indefinite-lived intangible assets | ' | ' | ' |
First Data trade name | 603.5 | 603.5 | ' |
Minimum | ' | ' | ' |
Additional disclosure | ' | ' | ' |
Contract and conversion costs for testing of recoverability on an annual basis | 1 | ' | ' |
Software development costs | ' | ' | ' |
Intangible assets | ' | ' | ' |
Estimated useful life | '5 years | ' | ' |
Software acquired | Minimum | ' | ' | ' |
Intangible assets | ' | ' | ' |
Estimated useful life | '3 years | ' | ' |
Software acquired | Maximum | ' | ' | ' |
Intangible assets | ' | ' | ' |
Estimated useful life | '10 years | ' | ' |
Other intangibles, except for the First Data trade name | Minimum | ' | ' | ' |
Intangible assets | ' | ' | ' |
Estimated useful life | '3 years | ' | ' |
Other intangibles, except for the First Data trade name | Maximum | ' | ' | ' |
Intangible assets | ' | ' | ' |
Estimated useful life | '25 years | ' | ' |
Customer relationships | ' | ' | ' |
Components of other intangibles | ' | ' | ' |
Cost | 7,595.30 | 7,638.10 | ' |
Accumulated Amortization | -3,839 | -3,212.70 | ' |
Net of Accumulated Amortization | 3,756.30 | 4,425.40 | ' |
Other intangibles | ' | ' | ' |
Components of other intangibles | ' | ' | ' |
Cost | 3,372.60 | 3,161.40 | ' |
Accumulated Amortization | -1,544 | -1,282.20 | ' |
Net of Accumulated Amortization | 1,828.60 | 1,879.20 | ' |
Conversion costs | ' | ' | ' |
Components of other intangibles | ' | ' | ' |
Cost | 154.3 | 120.9 | ' |
Accumulated Amortization | -56.7 | -38.9 | ' |
Net of Accumulated Amortization | 97.6 | 82 | ' |
Contract costs | ' | ' | ' |
Components of other intangibles | ' | ' | ' |
Cost | 222.2 | 189.9 | ' |
Accumulated Amortization | -119.6 | -88.3 | ' |
Net of Accumulated Amortization | 102.6 | 101.6 | ' |
Software | ' | ' | ' |
Components of other intangibles | ' | ' | ' |
Cost | 1,544.70 | 1,402.40 | ' |
Accumulated Amortization | -1,098 | -933 | ' |
Net of Accumulated Amortization | 446.7 | 469.4 | ' |
Other, including trade names | ' | ' | ' |
Components of other intangibles | ' | ' | ' |
Cost | 1,451.40 | 1,448.20 | ' |
Accumulated Amortization | -269.7 | -222 | ' |
Net of Accumulated Amortization | $1,181.70 | $1,226.20 | ' |
Restructuring_Details
Restructuring (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
item | item | item | item | item | item | item | |
Net pretax benefits (charges), incurred by segment | ' | ' | ' | ' | ' | ' | ' |
Total pretax charge, net of reversals | ($7.80) | ($7.20) | ($46) | ($24.10) | ($23.10) | ($46.40) | ($72) |
Restructuring charges expected to recorded in 2013 | ' | ' | ' | ' | 2 | ' | ' |
Approximate Number of Employees | 100 | 10 | 460 | 580 | 650 | 750 | 1,200 |
Retail and Alliance Services | ' | ' | ' | ' | ' | ' | ' |
Net pretax benefits (charges), incurred by segment | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | -1.8 | -4.4 | -16.9 | -7.4 | -7.5 | -2.8 | -20.3 |
Restructuring accrual reversals | 1.2 | ' | 1.9 | 1 | 1 | 1.1 | 0.7 |
Total pretax charge, net of reversals | -0.6 | -4.4 | -15 | -6.4 | -6.5 | -1.7 | -19.6 |
Financial Services | ' | ' | ' | ' | ' | ' | ' |
Net pretax benefits (charges), incurred by segment | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | -3.6 | ' | -8.5 | ' | ' | -10.5 | -11.3 |
Restructuring accrual reversals | 0.2 | ' | 0.2 | ' | ' | ' | 0.8 |
Total pretax charge, net of reversals | -3.4 | ' | -8.3 | ' | ' | -10.5 | -10.5 |
International | ' | ' | ' | ' | ' | ' | ' |
Net pretax benefits (charges), incurred by segment | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | -0.6 | -1.7 | -1.4 | -17.8 | -18.5 | -34.2 | -28.2 |
Restructuring accrual reversals | 0.6 | 0.1 | 0.6 | 0.8 | 2.8 | 2.5 | 10.9 |
Total pretax charge, net of reversals | ' | -1.6 | -0.8 | -17 | -15.7 | -31.7 | -17.3 |
All Other and Corporate | ' | ' | ' | ' | ' | ' | ' |
Net pretax benefits (charges), incurred by segment | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | -4.1 | -1.2 | -22.4 | -2 | -2.2 | -3.8 | -27.7 |
Restructuring accrual reversals | 0.3 | ' | 0.5 | 1.3 | 1.3 | 1.3 | 3.1 |
Total pretax charge, net of reversals | -3.8 | -1.2 | -21.9 | -0.7 | -0.9 | -2.5 | -24.6 |
Totals | ' | ' | ' | ' | ' | ' | ' |
Net pretax benefits (charges), incurred by segment | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | -10.1 | -7.3 | -49.2 | -27.2 | -28.2 | -51.3 | -87.5 |
Restructuring accrual reversals | 2.3 | 0.1 | 3.2 | 3.1 | 5.1 | 4.9 | 15.5 |
Total pretax charge, net of reversals | ($7.80) | ($7.20) | ($46) | ($24.10) | ($23.10) | ($46.40) | ($72) |
Restructuring_Details_2
Restructuring (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Utilization of restructuring accruals | ' | ' | ' | ' | ' | ' | ' |
Expense provision | ($7.80) | ($7.20) | ($46) | ($24.10) | ($23.10) | ($46.40) | ($72) |
Employee Severance | ' | ' | ' | ' | ' | ' | ' |
Utilization of restructuring accruals | ' | ' | ' | ' | ' | ' | ' |
Remaining accrual at the beginning of the period | ' | ' | 13.1 | 16.7 | 16.7 | 38.7 | ' |
Expense provision | ' | ' | ' | ' | 28.2 | 45 | ' |
Cash payments and other | ' | ' | -30.3 | ' | -26.8 | -62.2 | ' |
Changes in estimates | ' | ' | -3.2 | ' | -5 | -4.8 | ' |
Remaining accrual at the end of the period | 28.8 | ' | 28.8 | ' | 13.1 | 16.7 | ' |
Facility Closure | ' | ' | ' | ' | ' | ' | ' |
Utilization of restructuring accruals | ' | ' | ' | ' | ' | ' | ' |
Remaining accrual at the beginning of the period | ' | ' | ' | 0.9 | 0.9 | 0.2 | ' |
Expense provision | ' | ' | ' | ' | ' | 6.3 | ' |
Cash payments and other | ' | ' | ' | ' | -0.8 | -5.5 | ' |
Changes in estimates | ' | ' | ' | ' | -0.1 | -0.1 | ' |
Remaining accrual at the end of the period | ' | ' | ' | ' | ' | $0.90 | ' |
Business_Combinations_Asset_Ac2
Business Combinations, Asset Acquisitions and Dispositions (Details) | 9 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Nov. 30, 2011 | Apr. 30, 2012 | Apr. 30, 2012 | Apr. 30, 2013 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jun. 26, 2009 | Dec. 31, 2010 | Mar. 31, 2010 | Dec. 31, 2012 | Jun. 26, 2009 | Jun. 26, 2009 | Dec. 31, 2012 | Jun. 26, 2009 |
USD ($) | USD ($) | USD ($) | USD ($) | Purchase of noncontrolling interest in Omnipay | Purchase of noncontrolling interest in Omnipay | Purchase of noncontrolling interest in Omnipay | Purchase of noncontrolling interest in Omnipay | Purchase of noncontrolling interest in Omnipay | Purchase of noncontrolling interest in Omnipay | Clover Network, Inc | Clover Network, Inc | Merchant portfolio | Merchant portfolio | Merchant portfolio | Rockmount | Redemption of Rockmount Investments, LLC ("Rockmount") put in BAMS | Redemption of Rockmount Investments, LLC ("Rockmount") put in BAMS | Redemption of Rockmount Investments, LLC ("Rockmount") put in BAMS | Redemption of Rockmount Investments, LLC ("Rockmount") put in BAMS | Redemption of Rockmount Investments, LLC ("Rockmount") put in BAMS | Redemption of Rockmount Investments, LLC ("Rockmount") put in BAMS | Redemption of Rockmount Investments, LLC ("Rockmount") put in BAMS | ||
USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Bank of America N.A. | Bank of America N.A. | Rockmount | ||||||||||
Business combinations, asset acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price | ' | $107 | $19.20 | $215.10 | ' | $49 | € 37.10 | ' | ' | $49 | € 37.10 | $56.10 | $56.10 | $1.90 | $19.20 | $1.80 | ' | $213.30 | ' | ' | ' | ' | ' | ' |
Purchase price, cash paid | ' | 63.1 | 19.2 | 215.1 | ' | 25.1 | 19 | 23.7 | 18.1 | 25.1 | 19 | ' | 36.1 | 1.9 | 19.2 | 1.8 | ' | 213.3 | ' | ' | ' | ' | ' | ' |
Percentage of noncontrolling interest | ' | ' | 30.00% | ' | 30.00% | 30.00% | 30.00% | ' | ' | 30.00% | 30.00% | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liability recorded for the contingent consideration | ' | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20 | 20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total consideration, net of cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54.1 | 54.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period of revenue under consideration for determination of contingent payments | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent consideration due related to a small divestiture | ' | 14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct voting interest held (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | 51.00% | 48.45% | ' | ' | ' |
Direct voting interest held by counterparty (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46.55% | 49.00% | ' |
Non-voting interest held (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% |
Trailing period for redemption amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 months | ' | ' | ' | ' | ' |
Net assets acquired and net cash paid for acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of net assets acquired | ' | 107 | 19.2 | 215.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less non-cash consideration | ' | -43.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less cash acquired | ' | -2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash paid for acquisitions | 1.9 | 32.9 | 19.2 | 1.8 | ' | ' | ' | ' | ' | ' | ' | 34.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash paid for acquisitions and noncontrolling interests | ' | $61.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business_Combinations_Asset_Ac3
Business Combinations, Asset Acquisitions and Dispositions (Details 2) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2010 |
Changes to goodwill | ' | ' | ' | ' |
Goodwil, gross | $20,522.60 | $20,440.20 | ' | $20,532.50 |
Accumulated impairment losses | -3,240.10 | -3,235.60 | ' | -3,235.60 |
Goodwill, net | 17,282.50 | 17,204.60 | 17,232 | 17,296.90 |
Deconsolidation | ' | -42.8 | ' | ' |
Acquisitions | 48.9 | ' | ' | ' |
Purchase price adjustments | ' | -4.5 | ' | ' |
Impairments | -4.5 | ' | ' | ' |
Other adjustments (primarily foreign currency) | 33.5 | -45 | ' | ' |
Divested Operations | ' | ' | ' | ' |
Changes to goodwill | ' | ' | ' | ' |
Goodwil, gross | 181.3 | 181.3 | ' | 181.3 |
Accumulated impairment losses | -181.3 | -181.3 | ' | -181.3 |
Retail and Alliance Services | ' | ' | ' | ' |
Changes to goodwill | ' | ' | ' | ' |
Goodwil, gross | 14,071.80 | 14,022.90 | ' | 14,065.70 |
Accumulated impairment losses | -1,106.50 | -1,106.50 | ' | -1,106.50 |
Goodwill, net | 12,965.30 | 12,916.40 | ' | 12,959.20 |
Deconsolidation | ' | -42.8 | ' | ' |
Acquisitions | 48.9 | ' | ' | ' |
Financial Services | ' | ' | ' | ' |
Changes to goodwill | ' | ' | ' | ' |
Goodwil, gross | 3,451.40 | 3,451.40 | ' | 3,451.40 |
Accumulated impairment losses | -1,399.70 | -1,395.20 | ' | -1,395.20 |
Goodwill, net | 2,051.70 | 2,056.20 | ' | 2,056.20 |
Impairments | -4.5 | ' | ' | ' |
International | ' | ' | ' | ' |
Changes to goodwill | ' | ' | ' | ' |
Goodwil, gross | 2,641.10 | 2,607.60 | ' | 2,657.10 |
Accumulated impairment losses | -375.6 | -375.6 | ' | -375.6 |
Goodwill, net | 2,265.50 | 2,232 | ' | 2,281.50 |
Purchase price adjustments | ' | -4.5 | ' | ' |
Other adjustments (primarily foreign currency) | 33.5 | -45 | ' | ' |
All Other and Corporate | ' | ' | ' | ' |
Changes to goodwill | ' | ' | ' | ' |
Goodwil, gross | 177 | 177 | ' | 177 |
Accumulated impairment losses | ($177) | ($177) | ' | ($177) |
Settlement_Assets_and_Obligati2
Settlement Assets and Obligations (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Settlement assets: Current settlement assets | ' | ' | ' |
Cash and cash equivalents | ' | $3,790.40 | $1,650.30 |
Investment securities | ' | 125.6 | 105.7 |
Due from card associations and bank partners | ' | 4,523.40 | 8,353.30 |
Due from merchants | ' | 734.4 | 549 |
Total current settlement assets | 9,181.70 | 9,173.80 | 10,658.30 |
Settlement assets: Long-term settlement assets | ' | ' | ' |
Investment securities | 18.6 | 54.3 | 181 |
Total settlement assets | ' | 9,228.10 | 10,839.30 |
Settlement obligations: Current settlement obligations | ' | ' | ' |
Payment instruments outstanding | ' | 289.9 | 459.6 |
Card settlements due to merchants | ' | 8,936.40 | 10,378.20 |
Total current settlement obligations | $9,197.60 | $9,226.30 | $10,837.80 |
Investment_Securities_Details
Investment Securities (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Jan. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | |
Student loan auction rate securities | Student loan auction rate securities | Student loan auction rate securities | Student loan auction rate securities | Corporate bonds | Corporate bonds | Corporate bonds | State and municipal obligations | State and municipal obligations | State and municipal obligations | State and municipal obligations | U.S. Government guaranteed agency securities | Other | Other | ||||||||
Subsequent event | Maximum | ||||||||||||||||||||
Investment securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale securities, Cost | $76,300,000 | ' | $76,300,000 | ' | $178,800,000 | $285,700,000 | ' | $169,300,000 | $12,800,000 | $37,600,000 | ' | $6,100,000 | $6,600,000 | $10,300,000 | $57,300,000 | $134,500,000 | $96,000,000 | ' | $10,000,000 | $100,000 | $100,000 |
Available-for-sale securities, Gross Unrealized Gain | 2,700,000 | ' | 2,700,000 | ' | 1,700,000 | 1,600,000 | ' | 1,200,000 | 800,000 | 1,200,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | 400,000 |
Available-for-sale securities, Gross Unrealized (Loss) excluding OTTI | ' | ' | ' | ' | -100,000 | -100,000 | ' | ' | ' | ' | ' | ' | ' | -100,000 | ' | -100,000 | ' | ' | ' | ' | ' |
Available-for-sale securities, Fair Value | 79,000,000 | ' | 79,000,000 | ' | 180,400,000 | 287,200,000 | ' | 170,500,000 | 13,600,000 | 38,800,000 | ' | 6,100,000 | 6,600,000 | 10,200,000 | 57,300,000 | 134,400,000 | 96,000,000 | ' | 10,000,000 | 600,000 | 500,000 |
Cost method investments, Cost | 9,100,000 | ' | 9,100,000 | ' | 13,400,000 | 23,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost method investments, Fair Value | 9,100,000 | ' | 9,100,000 | ' | 13,400,000 | 23,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Totals, Cost | 85,400,000 | ' | 85,400,000 | ' | 192,200,000 | 309,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Totals, Fair Value | 88,100,000 | ' | 88,100,000 | ' | 193,800,000 | 310,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities in a continuous unrealized loss position with unrealized losses presented by length of time | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less than 12 months, Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,200,000 | ' | 45,300,000 | ' | ' | ' | ' | ' |
Less than 12 months, Unrealized Losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -100,000 | ' | ' | ' | -50,000 | ' | ' | ' |
More than 12 months, Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' |
More than 12 months, Unrealized Losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' |
Total Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,200,000 | ' | 45,400,000 | ' | ' | ' | ' | ' |
Total Unrealized Losses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -100,000 | ' | -100,000 | ' | ' | ' | ' | ' |
Additional information regarding available-for-sale securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sales | ' | ' | ' | ' | 156,600,000 | 283,200,000 | 138,100,000 | ' | ' | ' | 21,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchases | 29,500,000 | 51,800,000 | 142,300,000 | 142,500,000 | 194,100,000 | 269,700,000 | 44,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross realized gains included in earnings as a result of sales | 300,000 | 1,100,000 | 1,300,000 | 4,300,000 | 4,400,000 | 3,600,000 | 6,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross realized (losses) included in earnings as a result of sales | ' | ' | ' | ' | ' | -2,900,000 | -3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross losses included in earnings as a result of impairment | ' | ' | ' | ' | ' | -5,200,000 | -28,200,000 | -5,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net unrealized gains or (losses) included in OCI, net of tax | 300,000 | ' | 2,200,000 | 2,600,000 | 2,900,000 | -2,000,000 | 7,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net gains or (losses) reclassified out of OCI into earnings, net of tax | 200,000 | 800,000 | 1,200,000 | 2,800,000 | 2,700,000 | -2,800,000 | -19,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity information for the investments in debt securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Due within one year | ' | ' | ' | ' | 125,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Due after one year through five years | ' | ' | ' | ' | 15,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Due after 10 years | ' | ' | ' | ' | 38,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total debt securities | 77,000,000 | ' | 77,000,000 | ' | 179,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment related to a cost method investment | ' | 8,700,000 | ' | 8,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of cost method assets for which fair value estimation deemed impracticable | $3,800,000 | ' | $3,800,000 | ' | $8,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Details) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Sep. 30, 2012 | Sep. 30, 2010 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Jan. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2010 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Feb. 28, 2013 | Feb. 28, 2013 |
In Millions, unless otherwise specified | Interest rate contracts | Interest rate contracts | Interest rate contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Forward-starting interest rate contracts | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting |
USD ($) | USD ($) | USD ($) | AUD | CAD | EUR (€) | GBP (£) | AUD | EUR (€) | AUD | EUR (€) | USD ($) | Interest rate swap | Interest rate swap | Forward-starting interest rate contracts | Forward-starting interest rate contracts | Forward-starting interest rate contracts | Foreign exchange rate collar | Basis rate swap | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Interest rate swap | Fixed to floating interest rate swap | Basis rate swap | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | EUR (€) | USD ($) | EUR (€) | EUR (€) | EUR (€) | Cash flow hedges | USD ($) | USD ($) | USD ($) | AUD | AUD | Subsequent event | Hedges of net investments in foreign operations | Hedges of net investments in foreign operations | Hedges of net investments in foreign operations | Hedges of net investments in foreign operations | Hedges of net investments in foreign operations | Hedges of net investments in foreign operations | Hedges of net investments in foreign operations | |||||||||||||
item | item | Senior secured term loan | item | EUR (€) | CAD | GBP (£) | AUD | EUR (€) | AUD | Subsequent event | Subsequent event | |||||||||||||||||||||||||||||
USD ($) | AUD | EUR (€) | ||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional value | $5,750 | $5,750 | $5,750 | 215 | 75 | € 221.50 | £ 100 | 115 | € 91.10 | 115 | € 91.10 | $3,000 | ' | ' | $5,000 | $2,000 | $3,000 | ' | ' | $29.10 | € 21.50 | ' | $120.50 | € 91.10 | € 91.10 | € 91.10 | ' | $750 | ' | $119.30 | 115 | 115 | ' | 75 | £ 100 | 100 | € 200 | 115 | 100 | € 200 |
Notional value of expired derivative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,000 | $2,500 | ' | ' | ' | $1.90 | $1,000 | ' | ' | € 69.60 | ' | ' | ' | ' | $500 | ' | $3,000 | ' | ' | ' | € 69.60 | ' | ' | ' | ' | ' | ' | ' |
Number of derivative instruments held | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Details 2) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Assets | $73.30 | $100.90 | $76.30 |
Liabilities | -148.5 | -172.1 | -196.4 |
Derivatives designated as hedging instruments | ' | ' | ' |
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Liabilities | ' | ' | -39.9 |
Derivatives designated as hedging instruments | Interest rate contracts | ' | ' | ' |
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Liabilities | ' | ' | -12.8 |
Derivatives designated as hedging instruments | Foreign exchange contracts | ' | ' | ' |
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Assets | 11.1 | ' | ' |
Liabilities | -29.2 | -32.8 | -27.1 |
Derivatives not designated as hedging instruments | ' | ' | ' |
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Assets | 62.2 | 100.9 | 76.3 |
Liabilities | -119.3 | -139.3 | -156.5 |
Derivatives not designated as hedging instruments | Interest rate contracts | ' | ' | ' |
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Assets | 62.2 | 90.8 | 65.4 |
Liabilities | -116.9 | -137.7 | -143.9 |
Derivatives not designated as hedging instruments | Foreign exchange contracts | ' | ' | ' |
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Assets | ' | 10.1 | 10.9 |
Liabilities | -2.4 | -1.6 | -0.7 |
Derivatives not designated as hedging instruments | Forward-starting interest rate contracts | ' | ' | ' |
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Liabilities | ' | ' | ($11.90) |
Derivative_Financial_Instrumen4
Derivative Financial Instruments (Details 3) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Activity in other comprehensive income related to derivative instruments classified as cash flow hedges and as a net investment hedge | ' | ' | ' | ' | ' | ' | ' |
Accumulated loss included in other comprehensive income (loss) at beginning of the period | ' | ' | ' | ($87.60) | ($87.60) | ($181.30) | ' |
Less: Reclassifications into earnings from other comprehensive income (loss) | ' | ' | ' | ' | 72.2 | 60.2 | ' |
Total accumulated loss included in other comprehensive income (loss) after reclassifications adjustment | ' | ' | ' | ' | -15.4 | -121.1 | ' |
Increase in fair value of derivatives that qualify for hedge accounting | ' | ' | ' | ' | -5.7 | 33.5 | ' |
Accumulated loss included in other comprehensive income (loss) at end of the period | ' | ' | ' | ' | -21.1 | -87.6 | ' |
Interest rate contracts | Derivatives in cash flow hedging relationships | ' | ' | ' | ' | ' | ' | ' |
Effect of Derivative Instruments of the Consolidated Statement of Operations | ' | ' | ' | ' | ' | ' | ' |
Amount of gain or (loss) recognized in OCI (effective portion) | ' | ' | ' | ' | ' | 61.3 | -26.2 |
Amount of gain or (loss) reclassified from accumulated OCI into income | ' | ' | ' | ' | -114.9 | -93 | -145.7 |
Amount of gain or (loss) recognized in income (ineffective portion) | ' | ' | ' | ' | ' | -2.3 | -6.3 |
Foreign exchange contracts | Derivatives in net investment hedging relationships | ' | ' | ' | ' | ' | ' | ' |
Effect of Derivative Instruments of the Consolidated Statement of Operations | ' | ' | ' | ' | ' | ' | ' |
Amount of gain or (loss) recognized in OCI (effective portion) | ' | ' | ' | ' | -9.2 | -9.4 | -14.8 |
Amount of gain or (loss) recognized in income (ineffective portion) | ' | ' | ' | ' | ' | ' | 0.5 |
Derivatives not designated as hedging instruments | Interest rate contracts | ' | ' | ' | ' | ' | ' | ' |
Derivatives not designated as hedging instruments | ' | ' | ' | ' | ' | ' | ' |
Amount of gain or (loss) recognized in income | -24.3 | -41.2 | -10.1 | -88.4 | -89.9 | 58 | -61.6 |
Derivatives not designated as hedging instruments | Foreign exchange contracts | ' | ' | ' | ' | ' | ' | ' |
Derivatives not designated as hedging instruments | ' | ' | ' | ' | ' | ' | ' |
Amount of gain or (loss) recognized in income | ($1.20) | ($1.80) | ($1.20) | $1.60 | ($1.50) | $2.50 | $9.10 |
Fair_Value_Measurement_Details
Fair Value Measurement (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Other current assets | $351.70 | $253.60 | $322.90 |
Other long-term assets | 813.7 | 825 | 844.1 |
Other current liabilities | 1,371.10 | 1,600.60 | 1,643.10 |
Long-term borrowings | 22,565.10 | 22,528.90 | 22,521.70 |
Other long-term liabilities | 786.1 | 821.9 | 763.6 |
Carrying Value | Short-term investment securities | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Settlement assets | 59.8 | 125.6 | 105.7 |
Carrying Value | Long-term investment securities | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Settlement assets | 18.6 | 54.3 | 181 |
Other long-term assets | 0.6 | 0.5 | 0.5 |
Carrying Value | Cost method investments | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Other long-term assets | 9.1 | 13.4 | 23.7 |
Carrying Value | Derivative financial instruments | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Other current assets | 6.7 | 11.1 | ' |
Other long-term assets | 66.6 | 89.8 | 76.3 |
Other current liabilities | 21.6 | 0.3 | 156.7 |
Other long-term liabilities | 126.9 | 171.8 | 39.7 |
Carrying Value | Long-term borrowings | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Long-term borrowings | 22,565.10 | 22,528.90 | 22,521.70 |
Fair Value | Short-term investment securities | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Settlement assets | 59.8 | 125.6 | 105.7 |
Fair Value | Long-term investment securities | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Settlement assets | 18.6 | 54.3 | 181 |
Other long-term assets | 0.6 | 0.5 | 0.5 |
Fair Value | Cost method investments | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Other long-term assets | 9.1 | 13.4 | 23.7 |
Fair Value | Derivative financial instruments | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Other current assets | 6.7 | 11.1 | ' |
Other long-term assets | 66.6 | 89.8 | 76.3 |
Other current liabilities | 21.6 | 0.3 | 156.7 |
Other long-term liabilities | 126.9 | 171.8 | 39.7 |
Fair Value | Long-term borrowings | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Long-term borrowings | 23,359.30 | ' | ' |
Long-term borrowings, fair value | ' | $22,732.60 | $20,189.80 |
Fair_Value_Measurement_Details1
Fair Value Measurement (Details 2) (Investment portfolio, Carrying value of the investment portfolio, Maximum) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Investment portfolio | Carrying value of the investment portfolio | Maximum | ' | ' |
Concentration of credit risk | ' | ' |
Percentage of carrying value of investment portfolio represented by largest single issuer | 15.00% | 15.00% |
Fair_Value_Measurement_Details2
Fair Value Measurement (Details 3) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Assets: | ' | ' | ' |
Other current assets | $351.70 | $253.60 | $322.90 |
Other long-term assets | 813.7 | 825 | 844.1 |
Liabilities: | ' | ' | ' |
Other current liabilities | 1,371.10 | 1,600.60 | 1,643.10 |
Other long-term liabilities | 786.1 | 821.9 | 763.6 |
Contingent consideration | ' | 20 | ' |
Recurring Basis | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 78.4 | 179.9 | 286.7 |
Other long-term assets | ' | ' | 76.8 |
Total assets at fair value | 152.3 | 281.3 | 363.5 |
Liabilities: | ' | ' | ' |
Contingent consideration | 20 | 20 | ' |
Total liabilities at fair value | 168.5 | 192.1 | 196.4 |
Recurring Basis | Interest rate swap contracts | ' | ' | ' |
Assets: | ' | ' | ' |
Other current assets | 6.7 | 1 | ' |
Other long-term assets | 55.5 | 89.8 | 65.4 |
Liabilities: | ' | ' | ' |
Other current liabilities | 0.5 | 0.3 | 156.7 |
Other long-term liabilities | 116.4 | 137.4 | ' |
Recurring Basis | Foreign currency derivative contracts | ' | ' | ' |
Assets: | ' | ' | ' |
Other current assets | ' | 10.1 | ' |
Other long-term assets | 11.1 | ' | 10.9 |
Liabilities: | ' | ' | ' |
Other current liabilities | 21.1 | ' | ' |
Other long-term liabilities | 10.5 | 34.4 | 27.8 |
Recurring Basis | Forward-starting interest rate contracts | ' | ' | ' |
Liabilities: | ' | ' | ' |
Other long-term liabilities | ' | ' | 11.9 |
Recurring Basis | Student loan auction rate securities | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 13.6 | 38.8 | 170.5 |
Recurring Basis | Corporate bonds | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 6.1 | 6.6 | 10.2 |
Recurring Basis | State and municipal obligations | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 56.7 | 133.9 | 95.5 |
Recurring Basis | Preferred stock | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 2 | 0.6 | 0.5 |
Recurring Basis | Available-for-sale securities | ' | ' | ' |
Assets: | ' | ' | ' |
Other long-term assets | 0.6 | 0.5 | 0.5 |
Recurring Basis | U.S. Government guaranteed agency securities | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | ' | ' | 10 |
Recurring Basis | Quoted prices in active markets for identical assets (Level 1) | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 2 | 0.6 | 0.5 |
Total assets at fair value | 2 | 0.6 | 0.5 |
Recurring Basis | Quoted prices in active markets for identical assets (Level 1) | Preferred stock | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 2 | 0.6 | 0.5 |
Recurring Basis | Significant other observable inputs (Level 2) | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 62.8 | 140.5 | 115.7 |
Other long-term assets | ' | ' | 76.8 |
Total assets at fair value | 136.7 | 241.9 | 192.5 |
Liabilities: | ' | ' | ' |
Total liabilities at fair value | 148.5 | 172.1 | 196.4 |
Recurring Basis | Significant other observable inputs (Level 2) | Interest rate swap contracts | ' | ' | ' |
Assets: | ' | ' | ' |
Other current assets | 6.7 | 1 | ' |
Other long-term assets | 55.5 | 89.8 | 65.4 |
Liabilities: | ' | ' | ' |
Other current liabilities | 0.5 | 0.3 | 156.7 |
Other long-term liabilities | 116.4 | 137.4 | ' |
Recurring Basis | Significant other observable inputs (Level 2) | Foreign currency derivative contracts | ' | ' | ' |
Assets: | ' | ' | ' |
Other current assets | ' | 10.1 | ' |
Other long-term assets | 11.1 | ' | 10.9 |
Liabilities: | ' | ' | ' |
Other current liabilities | 21.1 | ' | ' |
Other long-term liabilities | 10.5 | 34.4 | 27.8 |
Recurring Basis | Significant other observable inputs (Level 2) | Forward-starting interest rate contracts | ' | ' | ' |
Liabilities: | ' | ' | ' |
Other long-term liabilities | ' | ' | 11.9 |
Recurring Basis | Significant other observable inputs (Level 2) | Corporate bonds | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 6.1 | 6.6 | 10.2 |
Recurring Basis | Significant other observable inputs (Level 2) | State and municipal obligations | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 56.7 | 133.9 | 95.5 |
Recurring Basis | Significant other observable inputs (Level 2) | Available-for-sale securities | ' | ' | ' |
Assets: | ' | ' | ' |
Other long-term assets | 0.6 | 0.5 | 0.5 |
Recurring Basis | Significant other observable inputs (Level 2) | U.S. Government guaranteed agency securities | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | ' | ' | 10 |
Recurring Basis | Significant unobservable inputs (Level 3) | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 13.6 | 38.8 | 170.5 |
Total assets at fair value | 13.6 | 38.8 | 170.5 |
Liabilities: | ' | ' | ' |
Contingent consideration | 20 | 20 | ' |
Total liabilities at fair value | 20 | 20 | ' |
Recurring Basis | Significant unobservable inputs (Level 3) | Student loan auction rate securities | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | $13.60 | $38.80 | $170.50 |
Fair_Value_Measurement_Details3
Fair Value Measurement (Details 4) (USD $) | 12 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Student loan auction rate securities | Student loan auction rate securities | Student loan auction rate securities | |||
Settlement assets | ' | ' | ' | ' | ' |
Basis point change in liquidity risk premium (as a percent) | ' | ' | ' | 0.50% | ' |
Change in value of securities due to change in liquidity risk premium and other factors | ' | ' | ' | $1 | ' |
Reconciliation of significant unobservable inputs (Level 3) used for fair value measurement | ' | ' | ' | ' | ' |
Balance at the beginning of the period | ' | ' | 38.8 | 170.5 | 341.1 |
Total gains or losses (realized or unrealized) included in other comprehensive income | ' | ' | -0.4 | ' | 1.2 |
Total realized gains included in product sales and other | ' | ' | 1.3 | 4.4 | -4.5 |
Sales | ' | ' | -26.1 | -135.6 | -158.4 |
Settlements | ' | ' | ' | -0.5 | -8.9 |
Balance at the end of the period | ' | ' | 13.6 | 38.8 | 170.5 |
Impairments included in product sales and other | ' | ' | ' | ' | ' |
Impairments included in product sales and other | $5.20 | $28.20 | ' | ' | $5.20 |
Fair_Value_Measurement_Details4
Fair Value Measurement (Details 5) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Contingent liabilities | ' | ' |
Contingent consideration payable | ' | $20 |
Clover Network, Inc | ' | ' |
Contingent liabilities | ' | ' |
Contingent consideration payable | ' | 20 |
Contingent consideration | Clover Network, Inc | ' | ' |
Contingent liabilities | ' | ' |
Contingent consideration payable | 20 | 20 |
Period for which merchant location assumed to be used after fiscal year | '4 years | '4 years |
Fair Value Measurement Using Significant Unobservable Inputs (Level 3), Contingent consideration | ' | ' |
Balance at the beginning of the period | 20 | ' |
Initial estimate of contingent consideration | ' | 20 |
Balance at the end of the period | $20 | $20 |
Fair_Value_Measurement_Details5
Fair Value Measurement (Details 6) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2011 |
Financial instruments carried and measured at fair value | ' | ' | ' | ' | ' |
Impairment on assets | $5.10 | $5.10 | $11.50 | ' | ' |
Carrying value of assets | ' | 37,899 | ' | 36,843.70 | 40,276.30 |
Period of revenue under consideration for determination of contingent payments | ' | '3 years | ' | ' | ' |
Contingent consideration due related to a small divestiture | ' | 14 | ' | ' | ' |
Financial Services | ' | ' | ' | ' | ' |
Financial instruments carried and measured at fair value | ' | ' | ' | ' | ' |
Carrying value of assets | ' | 4,477.10 | ' | 4,192.30 | 4,647.80 |
Retail and Alliance Services | ' | ' | ' | ' | ' |
Financial instruments carried and measured at fair value | ' | ' | ' | ' | ' |
Carrying value of assets | ' | 25,885.70 | ' | 25,607.60 | 27,882.20 |
Non-recurring basis | ' | ' | ' | ' | ' |
Financial instruments carried and measured at fair value | ' | ' | ' | ' | ' |
Impairment on assets | 18 | 22 | ' | ' | ' |
Carrying value of assets | 38 | 42 | ' | ' | ' |
Non-recurring basis | Retail and Alliance and International | ' | ' | ' | ' | ' |
Financial instruments carried and measured at fair value | ' | ' | ' | ' | ' |
Impairment on assets | ' | ' | 11.5 | ' | ' |
Carrying value of assets | ' | ' | 11.7 | ' | ' |
Non-recurring basis | Financial Services | ' | ' | ' | ' | ' |
Financial instruments carried and measured at fair value | ' | ' | ' | ' | ' |
Impairment on assets | ' | 5 | ' | ' | ' |
Non-recurring basis | Retail and Alliance Services | ' | ' | ' | ' | ' |
Financial instruments carried and measured at fair value | ' | ' | ' | ' | ' |
Carrying value of assets | ' | $8.70 | ' | ' | ' |
Borrowings_Details
Borrowings (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 23, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 10, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | Foreign lines of credit and other arrangements | Foreign lines of credit and other arrangements | 4.70% Unsecured notes due 2013 | 4.70% Unsecured notes due 2013 | Capital lease obligations | Capital lease obligations | Senior secured term loan facility due 2014 | Senior secured term loan facility due 2014 | Senior secured term loan facility due 2017 | Senior secured term loan facility due March 2018 | Senior secured term loan facility due March 2018 | Senior secured term loan facility due September 2018 | 7.375% Senior secured first lien notes due 2019 | 7.375% Senior secured first lien notes due 2019 | 7.375% Senior secured first lien notes due 2019 | 7.375% Senior secured first lien notes due 2019 | 8.875% Senior secured first lien notes due 2020 | 8.875% Senior secured first lien notes due 2020 | 8.875% Senior secured first lien notes due 2020 | 6.75% Senior secured first lien notes due 2020 | 6.75% Senior secured first lien notes due 2020 | 8.25% Senior secured second lien notes due 2021 | 8.25% Senior secured second lien notes due 2021 | 8.75%/10.00% PIK toggle senior secured second lien notes due 2022 | 8.75%/10.00% PIK toggle senior secured second lien notes due 2022 | 8.75% PIK toggle senior second lien notes due 2022 | 8.75% PIK toggle senior second lien notes due 2022 | 10.00% PIK toggle senior second lien notes due 2022 | 10.00% PIK toggle senior second lien notes due 2022 | 12.625% Senior unsecured notes due 2021 | 12.625% Senior unsecured notes due 2021 | 12.625% Senior unsecured notes due 2021 | 9.875% Senior unsecured notes due 2015 | 9.875% Senior unsecured notes due 2015 | 9.875% Senior unsecured notes due 2015 | 10.55% Senior unsecured notes due 2015 (previously senior PIK notes) | 10.55% Senior unsecured notes due 2015 (previously senior PIK notes) | 10.55% Senior unsecured notes due 2015 (previously senior PIK notes) | 11.25% Senior unsecured subordinated notes due 2016 | 11.25% Senior unsecured subordinated notes due 2016 | 4.85% Unsecured notes due 2014 | 4.85% Unsecured notes due 2014 | 4.95% Unsecured notes due 2015 | 4.95% Unsecured notes due 2015 | |||
Borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term borrowings | ' | $177.20 | $76.40 | $177.20 | $76.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current portion of long-term borrowings | ' | 79.9 | 57 | ' | ' | 14.7 | 14 | 65.2 | 57 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term borrowings | 22,565.10 | 22,528.90 | 22,521.70 | ' | ' | ' | ' | 68.7 | 102.2 | 253.9 | 6,554.90 | 2,658.60 | 4,633.30 | 4,626.20 | 728.6 | ' | 1,568 | ' | 735 | ' | 496.4 | 494.6 | ' | 2,120.60 | 1,985.40 | 1,983.60 | 992.7 | 991.9 | ' | ' | ' | ' | ' | 2,978.50 | 2,975.80 | ' | 783.5 | 783.5 | ' | 748.4 | 748.4 | 2,500 | 2,500 | 3.5 | 3.3 | 8.8 | 8.3 |
Total borrowings | ' | 22,786 | 22,655.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized discount | ' | ' | ' | ' | ' | $0.40 | $1.10 | ' | ' | $1.30 | $9.80 | $12.70 | $27.30 | $27.20 | $21.40 | ' | $27 | ' | $15 | ' | $13.60 | $15.40 | ' | $29.40 | $14.30 | $16.10 | $7.30 | $8.10 | ' | ' | ' | ' | ' | $21.50 | $24.20 | ' | ' | ' | ' | ' | ' | ' | ' | $0.30 | $0.50 | $1 | $1.50 |
Interest rate (as a percent) | ' | ' | ' | ' | ' | 4.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.38% | 7.38% | 7.38% | ' | 8.88% | 8.88% | ' | 6.75% | 6.75% | 8.25% | ' | ' | ' | 8.75% | 8.75% | 10.00% | 10.00% | 12.63% | 12.63% | ' | 9.88% | 9.88% | ' | 10.55% | 10.55% | ' | 11.25% | ' | 4.85% | ' | 4.95% | ' |
Borrowings_Details_2
Borrowings (Details 2) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | Short-term lines of credit and other arrangements | Short-term lines of credit and other arrangements | Short-term lines of credit and other arrangements | Short-term lines of credit and other arrangements | Short-term lines of credit and other arrangements | Uncommitted borrowing arrangement | Uncommitted borrowing arrangement | Uncommitted borrowing arrangement |
Minimum | Maximum | |||||||
Short-Term Borrowings | ' | ' | ' | ' | ' | ' | ' | ' |
Amount available | $231 | $346 | $341 | ' | ' | ' | ' | ' |
Amount outstanding | $79.60 | $177.20 | $76.40 | ' | ' | $48.10 | $130 | $74 |
Weighted average interest rates (as a percent) | ' | 3.90% | 5.00% | ' | ' | ' | ' | ' |
Commitment fees (as a percent) | ' | ' | ' | 0.16% | 0.80% | ' | ' | ' |
Borrowings_Details_3
Borrowings (Details 3) (USD $) | 4 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | 31-May-13 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Apr. 10, 2013 | Apr. 10, 2013 | Feb. 13, 2013 | Sep. 27, 2012 | Feb. 13, 2013 | Feb. 13, 2013 | Sep. 27, 2012 | Feb. 13, 2013 | Feb. 13, 2013 | Sep. 27, 2012 | Feb. 13, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Apr. 10, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Mar. 23, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 27, 2012 | Aug. 16, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Feb. 13, 2013 | Sep. 30, 2013 | Feb. 13, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Nov. 30, 2011 | Jun. 30, 2010 | Dec. 31, 2010 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 16, 2012 | Dec. 31, 2010 | Sep. 27, 2012 | Aug. 16, 2012 | Mar. 13, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 23, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Sep. 27, 2012 | Aug. 16, 2012 | Mar. 23, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 01, 2013 | Aug. 16, 2012 | Mar. 13, 2012 | Aug. 16, 2012 | Mar. 13, 2012 |
Letters of credit | Term loans due in 2017 | Term loans due in 2017 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | 8.875% Senior secured first lien notes due 2020 | 8.875% Senior secured first lien notes due 2020 | 9.875% Senior unsecured notes due 2015 | 9.875% Senior unsecured notes due 2015 | 10.55% senior notes | 10.55% senior notes | 10.55% senior notes | 11.25% Senior unsecured subordinated notes due 2016 | 7.375% Senior secured first lien notes due 2019 | 7.375% Senior secured first lien notes due 2019 | 7.375% Senior secured first lien notes due 2019 | 6.75% Senior secured first lien notes due 2020 | 6.75% Senior secured first lien notes due 2020 | 6.75% Senior secured first lien notes due 2020 | 6.75% Senior secured first lien notes due 2020 | 11.25% senior unsecured notes due 2021 | 11.25% senior unsecured notes due 2021 | 11.25% senior unsecured notes due 2021 | 8.25% Senior secured second lien notes due 2021 | 12.625% Senior unsecured notes due 2021 | 12.625% Senior unsecured notes due 2021 | 12.625% Senior unsecured notes due 2021 | 8.75%/10.00% PIK toggle senior second lien notes due 2022 | 5.625% notes due 2011 | 4.50% notes due 2010 | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | 2012 Modifications and Amendment to the Senior Secured Credit Facilities | 2012 Modifications and Amendment to the Senior Secured Credit Facilities | 2012 Modifications and Amendment to the Senior Secured Credit Facilities | 2012 Modifications and Amendment to the Senior Secured Credit Facilities | 2012 Modifications and Amendment to the Senior Secured Credit Facilities | 2012 Modifications and Amendment to the Senior Secured Credit Facilities | 2012 Modifications and Amendment to the Senior Secured Credit Facilities | 2012 Modifications and Amendment to the Senior Secured Credit Facilities | 2012 Modifications and Amendment to the Senior Secured Credit Facilities | 2012 Modifications and Amendment to the Senior Secured Credit Facilities | |||||
LIBOR | Base rate | Subsequent event | LIBOR | LIBOR | LIBOR | Base rate | Base rate | Base rate | item | Subsequent event | U.S. denominated term loan | Euro denominated term loan | Senior Secured Revolving Credit Facility | Senior Secured Revolving Credit Facility | Senior Secured Revolving Credit Facility | Senior Secured Revolving Credit Facility | Senior Secured Revolving Credit Facility | Senior Secured Revolving Credit Facility | Senior Secured Revolving Credit Facility | Senior Secured Revolving Credit Facility | Senior Secured Revolving Credit Facility | Senior Secured Revolving Credit Facility | Letters of credit | Letters of credit | Letters of credit | Senior Secured Term Loan Facility | Senior Secured Term Loan Facility | 2014 Term Loans | 2014 Term Loans | 2014 Term Loans | 2014 Term Loans | 2014 Term Loans | 2014 Term Loans | 2014 Term Loans | 2014 Term Loans | 2014 Term Loans | Term loans due in 2017 | Term loans due in 2017 | Term loans due in 2017 | Term loans due in 2017 | March 2018 Term Loan | March 2018 Term Loan | March 2018 Term Loan | March 2018 Term Loan | March 2018 Term Loan | March 2018 Term Loan | Senior secured term loan facility due September 2018 | Subsequent event | LIBOR | LIBOR | Base rate | Base rate | ||||||||||||||||||||||||||||||||||||
U.S. denominated term loan | U.S. denominated term loan | U.S. denominated term loan | Subsequent event | Minimum | Maximum | LIBOR | Prime rate | Federal funds effective base rate | Maturing on September 24, 2013 | Maturing between June 24, 2015 and September 24, 2016 | U.S. denominated term loan | U.S. denominated term loan | Euro denominated term loan | Euro denominated term loan | U.S. denominated term loan | Euro denominated term loan | U.S. denominated term loan | U.S. denominated term loan | Euro denominated term loan | Euro denominated term loan | U.S. denominated term loan | U.S. denominated term loan | U.S. denominated term loan | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent event | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit commitment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,016.20 | $1,515.30 | ' | ' | ' | ' | ' | ' | $499.10 | $1,016.20 | $500 | $500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 253.9 | 6,554.90 | 130.7 | 6,154.20 | 123.2 | 400.7 | ' | 2,658.60 | 2,424.20 | 234.4 | 4,633.30 | 4,626.20 | 4,225.10 | 4,225.30 | 408.2 | 400.9 | 728.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining amount available | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 873.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,470.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of debt issued | ' | ' | ' | ' | 45.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48.1 | 45.1 | 45 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable interest rate basis | ' | ' | ' | ' | ' | 'LIBOR | 'base rate | ' | ' | ' | 'LIBOR | 'LIBOR | 'LIBOR | 'base rate | 'Base Rate | 'base rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | 'prime rate | 'federal funds effective rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | ' | 'euro LIBOR | ' | ' | ' | 'LIBOR | 'euro LIBOR | ' | ' | 'LIBOR | ' | 'euro LIBOR | ' | 'LIBOR | ' | ' | ' | ' | ' | ' | 'LIBOR | 'LIBOR | 'base rate | 'base rate |
Basis spread on variable interest rate basis (as a percent) | ' | ' | ' | ' | ' | 5.00% | 4.00% | ' | ' | ' | 5.00% | 5.00% | 5.00% | 4.00% | 4.00% | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.75% | ' | 2.75% | ' | ' | ' | 5.00% | 5.00% | ' | ' | 4.00% | ' | 4.00% | ' | 5.00% | ' | ' | ' | ' | ' | ' | 5.00% | 5.00% | 4.00% | 4.00% |
Weighted-average interest rates (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.25% | 5.80% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issue price as a percentage of par value | ' | ' | ' | ' | ' | ' | ' | ' | 98.25% | ' | ' | ' | ' | ' | ' | ' | 98.39% | ' | ' | ' | ' | ' | ' | ' | 99.50% | ' | ' | 100.75% | 99.19% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitment fee on undrawn portion (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 0.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of equal quarterly installments in aggregate annual amounts equal to percentage of the original principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32.6 | 13.1 | 89.2 | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,266 | 96.2 | 1,573 | ' | ' | ' | ' | ' | ' | ' | ' | 807 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of debt | ' | ' | ' | ' | ' | ' | ' | 258 | 750 | 258 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 845 | ' | ' | 850 | 1,300 | ' | ' | 785 | ' | 785 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.88% | 8.88% | 9.88% | 9.88% | ' | 10.55% | 10.55% | 11.25% | 7.38% | 7.38% | 7.38% | ' | ' | 6.75% | 6.75% | 11.25% | 11.25% | 11.25% | 8.25% | ' | 12.63% | 12.63% | ' | 5.63% | 5.63% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt financing costs | 122 | 13.7 | 3.2 | 8.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21 | 23.2 | 31.5 | ' | ' | 14 | ' | ' | ' | ' |
Premium paid related to tender offer and debt repurchase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21 | ' | ' | ' | ' |
Debt converted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 295 | 3,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount (premium) on debt issued | ' | ' | ' | ' | ' | ' | ' | ' | 13.1 | ' | ' | ' | ' | ' | ' | ' | 8.2 | ' | ' | ' | ' | ' | ' | ' | 4.2 | ' | ' | -6.4 | 10.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16.3 | 17.8 | 27 | 27.3 | 27.2 | ' | ' | ' | ' | ' |
Long term debt redemption with net cash proceeds from certain equity offerings, redemption price as percentage of principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 111.25% | ' | 111.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period given to complete exchange after the issue date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '360 days | ' | '360 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in annual interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional annual interest rate increase (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Registration default period over which additional annual interest rate will be increased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum additional interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long term debt redemption price as percentage of principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | 100.00% | ' | ' | ' | 100.00% | ' | 100.00% | 100.00% | 100.00% | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long term debt redemption with net cash proceeds from certain equity offerings as percentage of principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | 35.00% | ' | ' | ' | 35.00% | ' | 35.00% | 35.00% | 35.00% | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
PIK interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding aggregate principal amount of the PIK toggle notes which bears cash interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding aggregate principal amount of the PIK toggle notes which bears PIK interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of notes increased resulting from payment of accrued interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 73.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of voting classes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred financing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred financing costs | ' | 218.2 | 269.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average amortization period of deferred financing costs | ' | '6 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future aggregate annual maturities of long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2013 | ' | 80.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2014 | ' | 294 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2015 | ' | 1,568 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2016 | ' | 2,506.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2017 | ' | 2,672 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Thereafter | ' | $15,665.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental_Financial_Informa2
Supplemental Financial Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Supplemental Statement of Operations Information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment (losses) and gains | ' | ' | ($8.10) | ' | ' | ' | ' | ' | ' | $2.30 | ($7.80) | ($7.70) | ' | $2.50 |
Derivative financial instruments (losses) and gains | -25.5 | ' | -43 | ' | ' | ' | ' | ' | ' | -11.3 | -86.8 | -91.4 | 58.2 | -58.3 |
Divestitures, net | 2.3 | ' | ' | ' | ' | ' | ' | ' | ' | 2.3 | ' | ' | 57.4 | 18.7 |
Non-operating foreign currency gains (losses) | -13 | ' | -0.9 | ' | ' | ' | ' | ' | ' | -14.2 | 11.8 | 4.8 | 5.3 | 21.2 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.2 | ' |
Other income (expense) | -36.2 | -11.5 | -52 | -22.6 | -8.2 | 56.4 | 95.4 | -1.4 | -26.3 | -20.9 | -82.8 | -94.3 | 124.1 | -15.9 |
Accounts receivable: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Customers | ' | 1,713.80 | ' | ' | ' | 1,682.80 | ' | ' | ' | ' | ' | 1,713.80 | 1,682.80 | ' |
Due from unconsolidated merchant alliances | ' | 37 | ' | ' | ' | 36.8 | ' | ' | ' | ' | ' | 37 | 36.8 | ' |
Leasing receivables | ' | 99.8 | ' | ' | ' | 93.1 | ' | ' | ' | ' | ' | 99.8 | 93.1 | ' |
Interest and other receivables | ' | 30.4 | ' | ' | ' | 54 | ' | ' | ' | ' | ' | 30.4 | 54 | ' |
Accounts receivable, gross | ' | 1,881 | ' | ' | ' | 1,866.70 | ' | ' | ' | ' | ' | 1,881 | 1,866.70 | ' |
Less allowance for doubtful accounts-other receivables | ' | -29.9 | ' | ' | ' | -14.2 | ' | ' | ' | ' | ' | -29.9 | -14.2 | ' |
Less allowance for doubtful accounts-leasing receivables | ' | -3.4 | ' | ' | ' | -3.9 | ' | ' | ' | ' | ' | -3.4 | -3.9 | ' |
Accounts receivable, net | 1,632.30 | 1,847.70 | ' | ' | ' | 1,848.60 | ' | ' | ' | 1,632.30 | ' | 1,847.70 | 1,848.60 | ' |
Other current assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepaid expenses | ' | 92 | ' | ' | ' | 113.5 | ' | ' | ' | ' | ' | 92 | 113.5 | ' |
Inventory | ' | 72.2 | ' | ' | ' | 89.3 | ' | ' | ' | ' | ' | 72.2 | 89.3 | ' |
Deferred and other income tax assets | ' | 78.3 | ' | ' | ' | 120.1 | ' | ' | ' | ' | ' | 78.3 | 120.1 | ' |
Derivative financial instruments | ' | 11.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.1 | ' | ' |
Total other current assets | 351.7 | 253.6 | ' | ' | ' | 322.9 | ' | ' | ' | 351.7 | ' | 253.6 | 322.9 | ' |
Property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment, gross | ' | 1,880.10 | ' | ' | ' | 1,778.80 | ' | ' | ' | ' | ' | 1,880.10 | 1,778.80 | ' |
Less accumulated depreciation | -1,100.40 | -1,024.30 | ' | ' | ' | -842.9 | ' | ' | ' | -1,100.40 | ' | -1,024.30 | -842.9 | ' |
Property and equipment, net | 866.9 | 855.8 | ' | ' | ' | 935.9 | ' | ' | ' | 866.9 | ' | 855.8 | 935.9 | ' |
Other long-term assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable, net of allowance for doubtful accounts of $2.1(2012) | ' | 180.7 | ' | ' | ' | 160.3 | ' | ' | ' | ' | ' | 180.7 | 160.3 | ' |
Accounts receivable, allowance for doubtful accounts | ' | 2.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.1 | ' | ' |
Leasing Receivables, net of allowance for doubtful accounts of $10.6 (2012) and $10.3 (2011) | ' | 277.7 | ' | ' | ' | 257.6 | ' | ' | ' | ' | ' | 277.7 | 257.6 | ' |
Leasing Receivables, allowance for doubtful accounts | ' | 10.6 | ' | ' | ' | 10.3 | ' | ' | ' | ' | ' | 10.6 | 10.3 | ' |
Investments | ' | 13.9 | ' | ' | ' | 24.2 | ' | ' | ' | ' | ' | 13.9 | 24.2 | ' |
Regulatory and escrowed cash | ' | 5.1 | ' | ' | ' | 13.9 | ' | ' | ' | ' | ' | 5.1 | 13.9 | ' |
Derivative financial instruments | ' | 89.8 | ' | ' | ' | 76.3 | ' | ' | ' | ' | ' | 89.8 | 76.3 | ' |
Deferred financing costs, net of amortization | ' | 218.2 | ' | ' | ' | 269.8 | ' | ' | ' | ' | ' | 218.2 | 269.8 | ' |
Deferred income tax assets | ' | 10.4 | ' | ' | ' | 10.5 | ' | ' | ' | ' | ' | 10.4 | 10.5 | ' |
Pension assets | ' | ' | ' | ' | ' | 13.7 | ' | ' | ' | ' | ' | ' | 13.7 | ' |
Other | ' | 29.2 | ' | ' | ' | 17.8 | ' | ' | ' | ' | ' | 29.2 | 17.8 | ' |
Total other long-term assets | 813.7 | 825 | ' | ' | ' | 844.1 | ' | ' | ' | 813.7 | ' | 825 | 844.1 | ' |
Other current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest expense | ' | 496 | ' | ' | ' | 439.5 | ' | ' | ' | ' | ' | 496 | 439.5 | ' |
Other accrued expenses | ' | 554.8 | ' | ' | ' | 537.5 | ' | ' | ' | ' | ' | 554.8 | 537.5 | ' |
Compensation and benefit liabilities | ' | 307.2 | ' | ' | ' | 284.6 | ' | ' | ' | ' | ' | 307.2 | 284.6 | ' |
Derivative financial instruments | ' | 0.3 | ' | ' | ' | 156.7 | ' | ' | ' | ' | ' | 0.3 | 156.7 | ' |
Due to unconsolidated merchant alliances | ' | 8.7 | ' | ' | ' | 6.9 | ' | ' | ' | ' | ' | 8.7 | 6.9 | ' |
Other | ' | 233.6 | ' | ' | ' | 217.9 | ' | ' | ' | ' | ' | 233.6 | 217.9 | ' |
Total other current liabilities | 1,371.10 | 1,600.60 | ' | ' | ' | 1,643.10 | ' | ' | ' | 1,371.10 | ' | 1,600.60 | 1,643.10 | ' |
Other long-term liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pension obligations | ' | 103.3 | ' | ' | ' | 91.1 | ' | ' | ' | ' | ' | 103.3 | 91.1 | ' |
Derivative financial instruments | ' | 171.8 | ' | ' | ' | 39.7 | ' | ' | ' | ' | ' | 171.8 | 39.7 | ' |
Income taxes payable | ' | 353 | ' | ' | ' | 475.6 | ' | ' | ' | ' | ' | 353 | 475.6 | ' |
Other | ' | 193.8 | ' | ' | ' | 157.2 | ' | ' | ' | ' | ' | 193.8 | 157.2 | ' |
Total other long-term liabilities | 786.1 | 821.9 | ' | ' | ' | 763.6 | ' | ' | ' | 786.1 | ' | 821.9 | 763.6 | ' |
Land | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment, gross | ' | 88.6 | ' | ' | ' | 95.8 | ' | ' | ' | ' | ' | 88.6 | 95.8 | ' |
Buildings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment, gross | ' | 319.4 | ' | ' | ' | 322.2 | ' | ' | ' | ' | ' | 319.4 | 322.2 | ' |
Leasehold improvements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment, gross | ' | 51.9 | ' | ' | ' | 56.1 | ' | ' | ' | ' | ' | 51.9 | 56.1 | ' |
Equipment and furniture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment, gross | ' | 1,103.40 | ' | ' | ' | 1,026.20 | ' | ' | ' | ' | ' | 1,103.40 | 1,026.20 | ' |
Equipment under capital lease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment, gross | ' | $316.80 | ' | ' | ' | $278.50 | ' | ' | ' | ' | ' | $316.80 | $278.50 | ' |
Supplemental_Financial_Informa3
Supplemental Financial Information (Details 2) | 9 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Nov. 30, 2011 | Dec. 31, 2012 | Apr. 30, 2012 | Apr. 30, 2012 | Apr. 30, 2013 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2012 | Dec. 31, 2010 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2011 | Dec. 31, 2010 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Clover Network, Inc | Omnipay | Omnipay | Omnipay | Omnipay | Omnipay | Omnipay | 9.875% senior unsecured notes due 2015 | 10.55% senior PIK notes | 10.55% senior PIK notes | 8.25% senior second lien notes due 2021 | 8.25% senior second lien notes due 2021 | 8.75%/10.00% PIK toggle senior second lien notes due 2022 | 8.75% PIK toggle senior second lien notes due 2022 | 8.75% PIK toggle senior second lien notes due 2022 | 10.00% PIK toggle senior second lien notes due 2022 | 10.00% PIK toggle senior second lien notes due 2022 | 12.625% senior notes due 2021 | 12.625% senior notes due 2021 | ||
USD ($) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||
Supplemental Cash Flow Information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax payments, net of refunds received | ' | ' | $70,100,000 | $67,200,000 | $100,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest paid | ' | ' | 1,793,900,000 | 1,458,200,000 | 1,494,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions received from equity method investments | ' | ' | 244,500,000 | 194,800,000 | 194,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of notes increased resulting from payment of accrued interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 73,100,000 | 362,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes exchanged | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000,000 | ' | 3,000,000,000 | ' | ' | ' | ' | ' | ' | ' | 3,000,000,000 | ' |
Interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.88% | ' | 10.55% | 8.25% | 8.25% | ' | 8.75% | 8.75% | 10.00% | 10.00% | ' | 12.63% |
Notes issued in exchange | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000,000 | ' | 1,000,000,000 | ' | ' | ' | ' | ' | 3,000,000,000 |
Capital leases | 109,000,000 | 49,000,000 | 55,000,000 | 106,000,000 | 65,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of noncontrolling interest | ' | ' | ' | 30.00% | ' | 30.00% | 100.00% | 30.00% | 30.00% | ' | ' | 30.00% | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent consideration payable | ' | ' | 20,000,000 | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price | ' | ' | 107,000,000 | 19,200,000 | 215,100,000 | ' | 56,100,000 | 49,000,000 | 37,100,000 | ' | ' | 49,000,000 | 37,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price, cash paid | ' | ' | $63,100,000 | $19,200,000 | $215,100,000 | ' | $36,100,000 | $25,100,000 | € 19,000,000 | $23,700,000 | € 18,100,000 | $25,100,000 | € 19,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | 1 Months Ended | 0 Months Ended | 13 Months Ended | 0 Months Ended | 13 Months Ended | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Aug. 31, 2010 | Nov. 17, 2010 | Feb. 28, 2012 | Apr. 12, 2011 | Jan. 31, 2013 | Apr. 13, 2011 | Jan. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Affiliates of KKR | Affiliates of KKR | Affiliates of KKR | KCM | KCM | KCM | KCM | KCM | KCM | KCM | Capstone Consulting LLC | Capstone Consulting LLC | Capstone Consulting LLC | |
Management Agreement | Management Agreement | Management Agreement | Credit agreement amendment | Dealer Manager Agreement | Extend maturities | Extend maturities | Extend maturities | Underwriting commission | Underwriting commission | ||||
Related party transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Management fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $12.30 | $12 | $7.30 |
Payment to related party | $20.10 | $20 | $20.50 | $5 | $26.10 | $0.60 | $1.25 | $2.40 | $0.50 | $8.60 | ' | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Operating Leases | ' | ' | ' |
Total rent expense for operating leases | $72.40 | $81.30 | $83.70 |
Future minimum aggregate rental commitments due | ' | ' | ' |
Future minimum aggregate rental commitments under all noncancelable operating leases, net of sublease income | 293.3 | ' | ' |
2013 | 57.3 | ' | ' |
2014 | 47.1 | ' | ' |
2015 | 37.8 | ' | ' |
2016 | 34.4 | ' | ' |
2017 | 26.8 | ' | ' |
Thereafter | 89.9 | ' | ' |
Letters of Credit | ' | ' | ' |
Letters of credit | ' | ' | ' |
Outstanding letters of credit | $45.10 | ' | ' |
Options renewal period | '1 year | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies (Details 2) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2013 |
Commitments and contingencies | ' | ' |
Minimum possible ranges of losses in excess of any amounts accrued | $0 | $0 |
Maximum possible ranges of losses in excess of any amounts accrued | 85 | 90 |
Contingent consideration payable | 20 | ' |
Period of revenue under consideration for determination of contingent payments | '3 years | ' |
Contingent consideration due related to a small divestiture | 14 | ' |
Clover Network, Inc | ' | ' |
Commitments and contingencies | ' | ' |
Contingent consideration payable | 20 | ' |
Patent infringement | ' | ' |
Commitments and contingencies | ' | ' |
Minimum possible ranges of losses in excess of any amounts accrued | 0 | 0 |
Maximum possible ranges of losses in excess of any amounts accrued | 6 | 40 |
Merchant customer matters | ' | ' |
Commitments and contingencies | ' | ' |
Minimum possible ranges of losses in excess of any amounts accrued | 0 | ' |
Maximum possible ranges of losses in excess of any amounts accrued | 75 | ' |
Other matters | ' | ' |
Commitments and contingencies | ' | ' |
Minimum possible ranges of losses in excess of any amounts accrued | 0 | 0 |
Maximum possible ranges of losses in excess of any amounts accrued | $4 | $5 |
First_Data_Corporation_Stockho2
First Data Corporation Stockholder's Equity and Redeemable Noncontrolling Interests (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
First Data Corporation Stockholder's Equity and Redeemable Noncontrolling Interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | $21.50 | $5.10 | $6.70 | $0.20 | $14.90 |
Unrealized gains (losses) on securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance | ' | ' | ' | ' | 0.9 | ' | ' | ' | 0.1 | 1.1 | 0.9 | 0.9 | 0.1 | -27.4 |
Pretax Gain (Loss) Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | 1.3 | 44 |
Tax (Benefit) Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0.5 | 16.5 |
Net-of-Tax Amount | 0.1 | ' | -0.8 | ' | ' | ' | ' | ' | ' | 1 | -0.2 | 0.2 | 0.8 | 27.5 |
Ending Balance | ' | 1.1 | ' | ' | ' | 0.9 | ' | ' | ' | ' | ' | 1.1 | 0.9 | 0.1 |
Unrealized gains (losses) on hedging activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance | ' | ' | ' | ' | -72.2 | ' | ' | ' | -171.8 | ' | -72.2 | -72.2 | -171.8 | -242.1 |
Pretax Gain (Loss) Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 114.9 | 158.6 | 115.2 |
Tax (Benefit) Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42.7 | 59 | 44.9 |
Net-of-Tax Amount | ' | ' | 23.8 | ' | ' | ' | ' | ' | ' | ' | 72.1 | 72.2 | 99.6 | 70.3 |
Ending Balance | ' | ' | ' | ' | ' | -72.2 | ' | ' | ' | ' | ' | ' | -72.2 | -171.8 |
Foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance | ' | ' | ' | ' | -438.3 | ' | ' | ' | -400.3 | -425.9 | -438.3 | -438.3 | -400.3 | -318.8 |
Pretax Gain (Loss) Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28.4 | -79 | -65.5 |
Tax (Benefit) Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16 | -41 | 16 |
Net-of-Tax Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.4 | -38 | -81.5 |
Ending Balance | ' | -425.9 | ' | ' | ' | -438.3 | ' | ' | ' | ' | ' | -425.9 | -438.3 | -400.3 |
Net-of-Tax Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.3 | 6.9 | 3.1 |
Pension liability adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total unrecognized gain/(loss) included in other comprehensive income at the beginning of period | ' | ' | ' | ' | -88.8 | ' | ' | ' | -64.9 | -127.4 | -88.8 | -88.8 | -64.9 | -93.4 |
Pretax Gain (Loss) Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -61.8 | -38.8 | 44.9 |
Tax (Benefit) Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -23.2 | -14.9 | 16.4 |
Net-of-Tax Amount | 1.2 | ' | -0.3 | ' | ' | ' | ' | ' | ' | 3.5 | 0.7 | -38.6 | -23.9 | 28.5 |
Total unrecognized gain/(loss) included in other comprehensive income at end of period | ' | -127.4 | ' | ' | ' | -88.8 | ' | ' | ' | ' | ' | -127.4 | -88.8 | -64.9 |
Other comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated loss included in other comprehensive income (loss) at beginning of the period | ' | ' | ' | ' | -598.4 | ' | ' | ' | -636.9 | -552.2 | -598.4 | -598.4 | -636.9 | -681.7 |
Pretax Gain (Loss) Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 81.8 | 42.1 | 138.6 |
Tax (Benefit) Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.6 | 3.6 | 93.8 |
Total other comprehensive income, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46.2 | 38.5 | 44.8 |
Accumulated loss included in other comprehensive income (loss) at end of the period | -616.4 | -552.2 | ' | ' | ' | -598.4 | ' | ' | ' | -616.4 | ' | -552.2 | -598.4 | -636.9 |
Effects of changes in the entity's ownership interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss attributable to FDC | -219.5 | -179 | -212 | -157.4 | -152.5 | -69.3 | -53.9 | -175.8 | -217.1 | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
Transfers from noncontrolling interests: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease in FDC's paid-in capital for loss recognized from purchase of noncontrolling interest, including tax effect | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -46.1 | ' | -7.5 |
Change in net loss attributable to FDC and transfers from noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -747 | -516.1 | -1,029.30 |
Redeemable noncontrolling interest activity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at the beginning of the period | ' | 66.6 | ' | ' | 67.4 | ' | ' | ' | 28.1 | 67.4 | 67.4 | 67.4 | 28.1 | ' |
Distributions | ' | ' | ' | ' | ' | ' | ' | ' | ' | -26 | -27.4 | -36 | -31.2 | ' |
Share of income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24.6 | 26.6 | 36 | 32 | ' |
Adjustments to redemption value of redeemable noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | ' | ' | 38.6 | 7 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | ' | ' | -0.1 | ' |
Balance at the end of the period | $67.90 | $67.40 | $66.60 | ' | ' | $67.40 | ' | ' | ' | $67.90 | $66.60 | $67.40 | $67.40 | $28.10 |
Stock_Compensation_Plans_Detai
Stock Compensation Plans (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Jun. 30, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Mar. 31, 2012 | 31-May-10 | Apr. 30, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | 31-May-10 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 |
First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | ||||||||
Stock options | Stock options | Stock options | Stock options | Stock options | Stock options | Time-based options | Time-based options | Time-based options | Time-based options | Time-based options | Time-based options | Time-based options | Time-based options | Time-based options | Time-based options | Performance-based options | Restricted stock awards and restricted stock units | Restricted stock awards and restricted stock units | Restricted stock awards and restricted stock units | Restricted stock awards and restricted stock units | Restricted stock | Restricted stock | |||||||||
Minimum | Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Maximum | ||||||||||||||||||||||||
Stock compensation plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares authorized | ' | ' | ' | ' | ' | ' | ' | 119.5 | ' | ' | 83 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiration period of put rights after the termination event or upon a change in control | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | '180 days | '180 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total stock-based compensation expense (pretax) | $5.50 | $3.60 | $37.10 | $10.90 | $12.40 | $17.60 | $17.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance of recorded liability | ' | ' | ' | ' | ' | ' | ' | 0.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | '10 years | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '3 years | '3 years | '3 years | '5 years | '5 years | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' |
First vesting percentage on achieving certain EBITDA targets in any fiscal year between January 1, 2010 and December 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' |
Second vesting percentage on achieving certain EBITDA targets in any fiscal year between January 1, 2010 and December 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' | ' |
Third vesting percentage on achieving certain EBITDA targets in any fiscal year between January 1, 2010 and December 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' |
Cash bonus payment | ' | ' | ' | ' | ' | ' | ' | ' | 7.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation expense, related to non-vested awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | 178 | 99 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58 | 41 |
Expected recognition of unrecognized compensation cost over specified period | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 0.1 |
Specified period of recognition of unrecognized compensation cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | '2 years |
Expected recognition of unrecognized compensation cost upon the occurrence of certain liquidity or employment termination events | ' | ' | ' | ' | ' | ' | ' | ' | ' | 175 | 94 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54 | ' |
Cash paid to repurchase shares from employees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.1 | 2.9 | 21.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.5 | 0.5 | 2.5 | ' | ' |
Weighted-average assumptions for estimating fair value of stock options granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-free interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.38% | 1.45% | 2.86% | 3.03% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Volatility (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56.64% | 51.77% | 54.65% | 51.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected term | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | '7 years | '7 years | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of stock (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.50 | $3 | $3 | $3 | $3.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of options (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.99 | $1.60 | $1.73 | $1.66 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend yield (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at the beginning of the period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 77.6 | 73 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.2 | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5.5 | -0.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancelled / Forfeited (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -8.3 | -3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at the end of the period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 114 | 77.6 | 73 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options exercisable at the end of the period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.3 | 27.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-Average Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at the beginning of the period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3 | $3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.50 | $3 | ' | ' | ' | $3 | $5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3 | $3.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancelled / Forfeited (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.02 | $3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at the end of the period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.22 | $3 | $3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options exercisable at the end of the period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.02 | $3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total intrinsic value of stock options exercised (in dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-Average Remaining Contractual Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average remaining term for options outstanding at the end of the period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average remaining term for options exercisable at the end of the period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Awards/Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested at the beginning of the period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.6 | 10.9 | ' | ' | ' | ' |
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.6 | 4 | ' | ' | ' | ' |
Vested (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3.1 | -0.7 | ' | ' | ' | ' |
Cancelled / Forfeited (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1.1 | -0.6 | ' | ' | ' | ' |
Non-vested at the end of the period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19 | 13.6 | 10.9 | ' | ' | ' |
Weighted-Average Grant-Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested at the beginning of the period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3 | $3.14 | ' | ' | ' | ' |
Granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.50 | $3 | ' | ' | ' | ' |
Vested (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.23 | $4.74 | ' | ' | ' | ' |
Cancelled / Forfeited (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.02 | $3.16 | ' | ' | ' | ' |
Non-vested at the end of the period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.21 | $3 | $3.14 | ' | ' | ' |
Total fair value of shares vested (in dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2.50 | $0.50 | $2.40 | ' | ' |
Employee_Benefit_Plans_Details
Employee Benefit Plans (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Defined Contribution Plans | ' | ' | ' | ' | ' | ' | ' |
Aggregate amounts charged to expense | ' | ' | ' | ' | $45.20 | $42.70 | $41.10 |
Funded status of the plans | ' | ' | ' | ' | ' | ' | ' |
Net pension liabilities | ' | ' | ' | ' | 103.3 | 91.1 | ' |
Activity in other comprehensive income, net of tax | ' | ' | ' | ' | ' | ' | ' |
Total unrecognized gain/(loss) included in other comprehensive income at the beginning of period | ' | ' | ' | -88.8 | -88.8 | -64.9 | -93.4 |
Total unrecognized gain/(loss) included in other comprehensive income at end of period | ' | ' | ' | ' | -127.4 | -88.8 | -64.9 |
Defined benefit pension plan | ' | ' | ' | ' | ' | ' | ' |
Change in benefit obligation | ' | ' | ' | ' | ' | ' | ' |
Benefit obligation at beginning of period | ' | ' | 909.1 | 798.5 | 798.5 | 725.9 | ' |
Service costs | 0.6 | 0.7 | 1.9 | 2.1 | 5 | 6.1 | 3.1 |
Interest costs | 9.3 | 9.3 | 28 | 27.8 | 37.7 | 39.8 | 40 |
Actuarial (gain)/loss | ' | ' | ' | ' | 79 | 35.7 | ' |
Termination benefits | ' | ' | ' | ' | 0.1 | 0.9 | ' |
Benefits paid | ' | ' | ' | ' | -29.8 | -27.5 | ' |
Foreign currency translation | ' | ' | ' | ' | 18.6 | 6.7 | ' |
Benefit obligation at end of period | ' | ' | ' | ' | 909.1 | 798.5 | 725.9 |
Change in plan assets | ' | ' | ' | ' | ' | ' | ' |
Fair value of plan assets at the beginning of period | ' | ' | 805.8 | 721.1 | 721.1 | 656.3 | ' |
Actual return on plan assets | ' | ' | ' | ' | 61 | 53.9 | ' |
Company contributions | ' | ' | ' | ' | 31.6 | 29.9 | ' |
Benefits paid | ' | ' | ' | ' | -26.4 | -25.7 | ' |
Foreign currency translation | ' | ' | ' | ' | 18.5 | 6.7 | ' |
Fair value of plan assets at end of period | ' | ' | ' | ' | 805.8 | 721.1 | 656.3 |
Funded status of the plans | ' | ' | ' | ' | ' | ' | ' |
Funded status of the plans | ' | ' | ' | ' | -103.3 | -77.4 | ' |
Additional disclosures | ' | ' | ' | ' | ' | ' | ' |
Accumulated benefit obligation for all defined benefit plans | ' | ' | ' | ' | 896.7 | 786.8 | ' |
Activity in other comprehensive income, net of tax | ' | ' | ' | ' | ' | ' | ' |
Total unrecognized gain/(loss) included in other comprehensive income at the beginning of period | ' | ' | 127.4 | 88.8 | 88.8 | 64.9 | 93.4 |
Unrecognized gain/(loss) arising during the period | ' | ' | ' | ' | -39.9 | -17.7 | 27.1 |
Amortization of deferred gains/(losses) to net periodic benefit expense | ' | ' | ' | ' | 1.3 | 0.8 | 1.4 |
Total unrecognized gain/(loss) included in other comprehensive income at end of period | ' | ' | ' | ' | 127.4 | 88.8 | 64.9 |
Expected amortization of deferred losses to net periodic benefit expense pretax | ' | ' | ' | ' | ' | ' | ' |
Expected amortization of deferred losses to net periodic benefit expense pretax | ' | ' | ' | ' | 4 | ' | ' |
Components of net periodic benefit cost for the plans | ' | ' | ' | ' | ' | ' | ' |
Service costs | 0.6 | 0.7 | 1.9 | 2.1 | 5 | 6.1 | 3.1 |
Interest costs | 9.3 | 9.3 | 28 | 27.8 | 37.7 | 39.8 | 40 |
Expected return on plan assets | -10.9 | -11.1 | -32.8 | -33.4 | -44.7 | -46.5 | -40.4 |
Amortization | 0.9 | 0.4 | 2.7 | 1.3 | 2.1 | 1.3 | 2.2 |
Net periodic benefit expense (income) | -0.1 | -0.7 | -0.2 | -2.2 | 0.1 | 0.7 | 4.9 |
Weighted-average rate assumptions used in the measurement of benefit obligations | ' | ' | ' | ' | ' | ' | ' |
Discount rate (as a percent) | ' | ' | ' | ' | 4.29% | 4.75% | 5.40% |
Rate of compensation increase (as a percent) | ' | ' | ' | ' | 3.95% | 3.77% | 4.00% |
Weighted-average rate assumptions used in the measurement of the net cost | ' | ' | ' | ' | ' | ' | ' |
Discount rate (as a percent) | ' | ' | ' | ' | 4.71% | 5.21% | 5.55% |
Expected long-term return on plan assets (as a percent) | ' | ' | ' | ' | 6.11% | 6.83% | 6.86% |
Rate of compensation increase (as a percent) | ' | ' | ' | ' | 3.60% | 4.24% | 4.00% |
U.K. Plan | ' | ' | ' | ' | ' | ' | ' |
Change in benefit obligation | ' | ' | ' | ' | ' | ' | ' |
Benefit obligation at beginning of period | ' | ' | 659.5 | ' | ' | ' | ' |
U.K. plan benefit reinstatement | ' | ' | ' | ' | ' | 10.9 | ' |
Benefit obligation at end of period | ' | ' | ' | ' | ' | 574.7 | ' |
Change in plan assets | ' | ' | ' | ' | ' | ' | ' |
Fair value of plan assets at the beginning of period | ' | ' | 658.3 | ' | ' | ' | ' |
Company contributions | ' | ' | 22 | ' | ' | ' | ' |
Fair value of plan assets at end of period | ' | ' | ' | ' | ' | 588.4 | ' |
Funded status of the plans | ' | ' | ' | ' | ' | ' | ' |
Net pension (liabilities) assets | ' | ' | ' | ' | -1.2 | 13.7 | ' |
Activity in other comprehensive income, net of tax | ' | ' | ' | ' | ' | ' | ' |
U.K. plan benefit reinstatement | ' | ' | ' | ' | ' | -7 | ' |
U.S. and other foreign plans | ' | ' | ' | ' | ' | ' | ' |
Change in benefit obligation | ' | ' | ' | ' | ' | ' | ' |
Benefit obligation at end of period | ' | ' | ' | ' | 249.6 | 223.8 | ' |
Change in plan assets | ' | ' | ' | ' | ' | ' | ' |
Fair value of plan assets at end of period | ' | ' | ' | ' | 147.5 | 132.7 | ' |
Funded status of the plans | ' | ' | ' | ' | ' | ' | ' |
Net pension liabilities | ' | ' | ' | ' | -102.1 | -91.1 | ' |
U.S. plans | ' | ' | ' | ' | ' | ' | ' |
Change in plan assets | ' | ' | ' | ' | ' | ' | ' |
Company contributions | ' | ' | $7 | ' | ' | ' | ' |
U.S. plans | Equity securities | ' | ' | ' | ' | ' | ' | ' |
Target asset allocation, based on the investment policy | ' | ' | ' | ' | ' | ' | ' |
Target asset allocation (as a percent) | ' | ' | ' | ' | 40.00% | ' | ' |
U.S. plans | Debt securities | ' | ' | ' | ' | ' | ' | ' |
Target asset allocation, based on the investment policy | ' | ' | ' | ' | ' | ' | ' |
Target asset allocation (as a percent) | ' | ' | ' | ' | 60.00% | ' | ' |
Foreign plans | Equity securities | ' | ' | ' | ' | ' | ' | ' |
Target asset allocation, based on the investment policy | ' | ' | ' | ' | ' | ' | ' |
Target asset allocation (as a percent) | ' | ' | ' | ' | 60.00% | ' | ' |
Foreign plans | Debt securities | ' | ' | ' | ' | ' | ' | ' |
Target asset allocation, based on the investment policy | ' | ' | ' | ' | ' | ' | ' |
Target asset allocation (as a percent) | ' | ' | ' | ' | 40.00% | ' | ' |
Employee_Benefit_Plans_Details1
Employee Benefit Plans (Details 2) (Defined benefit pension plan, USD $) | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | |||
Defined benefit plans | ' | ' | ' |
Investments at fair value | $805.80 | $721.10 | $656.30 |
Quoted prices in active markets for identical assets (Level 1) | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 61.2 | 67.5 | ' |
Significant other observable inputs (Level 2) | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 741.2 | 648.2 | ' |
Significant unobservable inputs (Level 3) | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 3.4 | 5.4 | ' |
Total | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 805.8 | 721.1 | ' |
Cash and cash equivalents | Quoted prices in active markets for identical assets (Level 1) | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 0.6 | 3.2 | ' |
Cash and cash equivalents | Total | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 0.6 | 3.2 | ' |
Registered investment companies, Cash management fund | Quoted prices in active markets for identical assets (Level 1) | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 1.8 | 1 | ' |
Registered investment companies, Cash management fund | Total | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 1.8 | 1 | ' |
Registered investment companies, Equity funds | Quoted prices in active markets for identical assets (Level 1) | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 58.8 | 49.1 | ' |
Registered investment companies, Equity funds | Total | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 58.8 | 49.1 | ' |
Registered investment companies, Fixed income funds | Quoted prices in active markets for identical assets (Level 1) | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | ' | 14.2 | ' |
Registered investment companies, Fixed income funds | Total | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | ' | 14.2 | ' |
Fixed income securities | Significant other observable inputs (Level 2) | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 42.6 | 35.1 | ' |
Fixed income securities | Total | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 42.6 | 35.1 | ' |
Private investment funds-redeemable | Significant other observable inputs (Level 2) | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 698.6 | 613.1 | ' |
Private investment funds-redeemable | Total | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 698.6 | 613.1 | ' |
Equity index funds | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Actual asset allocation (as a percent) | 42.00% | 46.00% | ' |
Fixed income investments | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Actual asset allocation (as a percent) | 57.00% | 54.00% | ' |
Other investments | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Actual asset allocation (as a percent) | 1.00% | ' | ' |
Private investment funds-non-redeemable | Significant unobservable inputs (Level 3) | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 0.1 | 1 | 0.3 |
Private investment funds-non-redeemable | Total | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 0.1 | 1 | ' |
Insurance annuity contracts | Significant unobservable inputs (Level 3) | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | 3.3 | 4.4 | 4.4 |
Insurance annuity contracts | Total | Recurring Basis | ' | ' | ' |
Defined benefit plans | ' | ' | ' |
Investments at fair value | $3.30 | $4.40 | ' |
Employee_Benefit_Plans_Details2
Employee Benefit Plans (Details 3) (Defined benefit pension plan, USD $) | 12 Months Ended | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2010 |
Significant unobservable inputs (Level 3) | Significant unobservable inputs (Level 3) | Private investment funds-non-redeemable | Private investment funds-non-redeemable | Insurance annuity contracts | Insurance annuity contracts | |||
Recurring Basis | Recurring Basis | Significant unobservable inputs (Level 3) | Significant unobservable inputs (Level 3) | Significant unobservable inputs (Level 3) | Significant unobservable inputs (Level 3) | |||
Recurring Basis | Recurring Basis | Recurring Basis | Recurring Basis | |||||
Fair Value Measurement Using Significant Unobservable Inputs (Level 3) | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of plan assets at the beginning of period | $721.10 | $656.30 | $3.40 | $5.40 | $1 | $0.30 | $4.40 | $4.40 |
Transfer in from level 2 | ' | ' | ' | ' | ' | 1.4 | ' | ' |
Actual return on plan assets | 61 | 53.9 | ' | ' | 0.1 | ' | ' | ' |
Settlements | ' | ' | ' | ' | -1 | -0.7 | -1.1 | ' |
Fair value of plan assets at end of period | $805.80 | $721.10 | $3.40 | $5.40 | $0.10 | $1 | $3.30 | $4.40 |
Employee_Benefit_Plans_Details3
Employee Benefit Plans (Details 4) (USD $) | Dec. 31, 2012 |
In Millions, unless otherwise specified | |
Employee Benefit Plans | ' |
Employer contributions | $42 |
Estimated future benefit payments, which reflect expected future service | ' |
2013 | 26.4 |
2014 | 27.3 |
2015 | 29.3 |
2016 | 32.1 |
2017 | 33.6 |
2018-2022 | $199.60 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||||
item | |||||||||||||||||||||
Segment Information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Number of segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | |||||||
Operating segment results | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: Transaction and processing service fees | $1,620.20 | ' | $1,612.10 | ' | ' | ' | ' | ' | ' | $4,792.50 | $4,787.60 | $6,452.10 | $6,330 | $6,181.50 | |||||||
Revenues: Product sales and other | 215.5 | [1] | ' | 217.5 | [1] | ' | ' | ' | ' | ' | ' | 622.8 | [1] | 637.9 | [1] | 866.7 | [2] | 852.1 | [2] | 809.3 | [2] |
Internal revenue | 17.5 | ' | 15.5 | ' | ' | ' | ' | ' | ' | 49.7 | 45.1 | 61.6 | 65.1 | 62.4 | |||||||
Equity earnings in affiliates | 47.3 | 43.7 | 43 | 44 | 27.5 | 44.4 | 47.8 | 33.5 | 27.7 | 136 | 114.5 | 158.2 | 153.4 | 117.3 | |||||||
Investment in unconsolidated affiliates | 1,338.70 | 1,413.10 | ' | ' | ' | 1,490.60 | ' | ' | ' | 1,338.70 | ' | 1,413.10 | 1,490.60 | 1,208.20 | |||||||
Retail and Alliance Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Operating segment results | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: Transaction and processing service fees | 819.8 | ' | 807.6 | ' | ' | ' | ' | ' | ' | 2,414.60 | 2,363.40 | 3,198.80 | 2,974.50 | 2,923.90 | |||||||
Revenues: Product sales and other | 96.9 | ' | 102.6 | ' | ' | ' | ' | ' | ' | 291.7 | 308 | 404 | 407.5 | 390.9 | |||||||
Total segment reporting revenues | 916.7 | ' | 910.2 | ' | ' | ' | ' | ' | ' | 2,706.30 | 2,671.40 | 3,602.80 | 3,382 | 3,314.80 | |||||||
Internal revenue | 5.8 | ' | 5.4 | ' | ' | ' | ' | ' | ' | 16.7 | 14.9 | 20.2 | 17.5 | 18 | |||||||
External revenue | 910.9 | ' | 904.8 | ' | ' | ' | ' | ' | ' | 2,689.60 | 2,656.50 | 3,582.60 | 3,364.50 | 3,296.80 | |||||||
Depreciation and amortization | 114.1 | ' | 125.5 | ' | ' | ' | ' | ' | ' | 338.2 | 391.5 | 520.1 | 571.1 | 676.2 | |||||||
Segment EBITDA | 410.3 | ' | 409.4 | ' | ' | ' | ' | ' | ' | 1,193.80 | 1,176.60 | 1,594.80 | 1,407.50 | 1,322.30 | |||||||
Other operating expenses and other income (expense) excluding divestitures | -16.8 | ' | -21.9 | ' | ' | ' | ' | ' | ' | 10.8 | -28.8 | -29.1 | -0.4 | -60.2 | |||||||
Expenditures for long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.1 | 33.4 | 27.9 | |||||||
Equity earnings in affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 137.8 | 118.5 | 104.8 | |||||||
Investment in unconsolidated affiliates | ' | 1,219.60 | ' | ' | ' | 1,288.90 | ' | ' | ' | ' | ' | 1,219.60 | 1,288.90 | 1,013.50 | |||||||
Financial Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Operating segment results | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: Transaction and processing service fees | 331.1 | ' | 334.5 | ' | ' | ' | ' | ' | ' | 979.5 | 1,011.40 | 1,350 | 1,350 | 1,362.20 | |||||||
Revenues: Product sales and other | 15.3 | ' | 12.6 | ' | ' | ' | ' | ' | ' | 34.7 | 30 | 40.1 | 29.5 | 46.8 | |||||||
Total segment reporting revenues | 346.4 | ' | 347.1 | ' | ' | ' | ' | ' | ' | 1,014.20 | 1,041.40 | 1,390.10 | 1,379.50 | 1,409 | |||||||
Internal revenue | 9.1 | ' | 7.8 | ' | ' | ' | ' | ' | ' | 25.5 | 23.4 | 31.5 | 37.8 | 36 | |||||||
External revenue | 337.3 | ' | 339.3 | ' | ' | ' | ' | ' | ' | 988.7 | 1,018 | 1,358.60 | 1,341.70 | 1,373 | |||||||
Depreciation and amortization | 82.5 | ' | 83.6 | ' | ' | ' | ' | ' | ' | 245.7 | 255.5 | 337.2 | 347.7 | 362.9 | |||||||
Segment EBITDA | 162.7 | ' | 149.5 | ' | ' | ' | ' | ' | ' | 446.5 | 457.2 | 603.1 | 593.5 | 553 | |||||||
Other operating expenses and other income (expense) excluding divestitures | -3.5 | ' | ' | ' | ' | ' | ' | ' | ' | -8.4 | -5.1 | -5.1 | -10.5 | -8.5 | |||||||
Expenditures for long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49.2 | 60 | 69.9 | |||||||
International | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Operating segment results | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: Transaction and processing service fees | 331.4 | ' | 321.9 | ' | ' | ' | ' | ' | ' | 973 | 952.6 | 1,291.20 | 1,337.90 | 1,237.50 | |||||||
Revenues: Product sales and other | 92.8 | ' | 95.8 | ' | ' | ' | ' | ' | ' | 269.5 | 276 | 391 | 388.8 | 353.9 | |||||||
Revenues: Equity earnings in affiliates | 7.4 | ' | 9.3 | ' | ' | ' | ' | ' | ' | 22.6 | 27.9 | 36.2 | 34.6 | 29.4 | |||||||
Total segment reporting revenues | 431.6 | ' | 427 | ' | ' | ' | ' | ' | ' | 1,265.10 | 1,256.50 | 1,718.40 | 1,761.30 | 1,620.80 | |||||||
Internal revenue | 2.6 | ' | 2.3 | ' | ' | ' | ' | ' | ' | 7.5 | 6.8 | 9.9 | 9.8 | 8.4 | |||||||
External revenue | 429 | ' | 424.7 | ' | ' | ' | ' | ' | ' | 1,257.60 | 1,249.70 | 1,708.50 | 1,751.50 | 1,612.40 | |||||||
Depreciation and amortization | 65 | ' | 69.9 | ' | ' | ' | ' | ' | ' | 198.5 | 213.2 | 282.9 | 222.7 | 289.9 | |||||||
Segment EBITDA | 126 | ' | 119.5 | ' | ' | ' | ' | ' | ' | 341.6 | 332.4 | 483.8 | 454.3 | 329.8 | |||||||
Other operating expenses and other income (expense) excluding divestitures | -7.3 | ' | -5.4 | ' | ' | ' | ' | ' | ' | 18.1 | -25.7 | -24.3 | -12.1 | -26.4 | |||||||
Expenditures for long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 163.9 | 168 | 171.3 | |||||||
Equity earnings in affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.4 | 34.9 | 12.5 | |||||||
Investment in unconsolidated affiliates | ' | 193.5 | ' | ' | ' | 201.7 | ' | ' | ' | ' | ' | 193.5 | 201.7 | 194.7 | |||||||
All Other and Corporate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Operating segment results | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: Transaction and processing service fees | 18.8 | ' | 19.3 | ' | ' | ' | ' | ' | ' | 57 | 66.3 | 85.2 | 108.3 | 126.8 | |||||||
Revenues: Product sales and other | 13.2 | ' | 9.1 | ' | ' | ' | ' | ' | ' | 33.5 | 30.8 | 39.8 | 32.9 | 23.9 | |||||||
Total segment reporting revenues | 32 | ' | 28.4 | ' | ' | ' | ' | ' | ' | 90.5 | 97.1 | 125 | 141.2 | 150.7 | |||||||
External revenue | 32 | ' | 28.4 | ' | ' | ' | ' | ' | ' | 90.5 | 97.1 | 125 | 141.2 | 150.7 | |||||||
Depreciation and amortization | 9.4 | ' | 10.4 | ' | ' | ' | ' | ' | ' | 34.7 | 33.5 | 45.1 | 45.1 | 51.2 | |||||||
Segment EBITDA | -71.9 | ' | -69.9 | ' | ' | ' | ' | ' | ' | -201.7 | -186 | -246 | -206.8 | -178.1 | |||||||
Other operating expenses and other income (expense) excluding divestitures | -18.7 | ' | -31.9 | ' | ' | ' | ' | ' | ' | -89.7 | -52.4 | -64 | 45.8 | -21 | |||||||
Expenditures for long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 132.1 | 143.4 | 100.6 | |||||||
Totals | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Operating segment results | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: Transaction and processing service fees | 1,501.10 | ' | 1,483.30 | ' | ' | ' | ' | ' | ' | 4,424.10 | 4,393.70 | 5,925.20 | 5,770.70 | 5,650.40 | |||||||
Revenues: Product sales and other | 218.2 | ' | 220.1 | ' | ' | ' | ' | ' | ' | 629.4 | 644.8 | 874.9 | 858.7 | 815.5 | |||||||
Revenues: Equity earnings in affiliates | 7.4 | ' | 9.3 | ' | ' | ' | ' | ' | ' | 22.6 | 27.9 | 36.2 | 34.6 | 29.4 | |||||||
Total segment reporting revenues | 1,726.70 | ' | 1,712.70 | ' | ' | ' | ' | ' | ' | 5,076.10 | 5,066.40 | 6,836.30 | 6,664 | 6,495.30 | |||||||
Internal revenue | 17.5 | ' | 15.5 | ' | ' | ' | ' | ' | ' | 49.7 | 45.1 | 61.6 | 65.1 | 62.4 | |||||||
External revenue | 1,709.20 | ' | 1,697.20 | ' | ' | ' | ' | ' | ' | 5,026.40 | 5,021.30 | 6,774.70 | 6,598.90 | 6,432.90 | |||||||
Depreciation and amortization | 271 | ' | 289.4 | ' | ' | ' | ' | ' | ' | 817.1 | 893.7 | 1,185.30 | 1,186.60 | 1,380.20 | |||||||
Segment EBITDA | 627.1 | ' | 608.5 | ' | ' | ' | ' | ' | ' | 1,780.20 | 1,780.20 | 2,435.70 | 2,248.50 | 2,027 | |||||||
Other operating expenses and other income (expense) excluding divestitures | -46.3 | ' | -59.2 | ' | ' | ' | ' | ' | ' | -69.2 | -112 | -122.5 | 22.8 | -116.1 | |||||||
Expenditures for long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 370.3 | 404.8 | 369.7 | |||||||
Equity earnings in affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 158.2 | 153.4 | 117.3 | |||||||
Investment in unconsolidated affiliates | ' | $1,413.10 | ' | ' | ' | $1,490.60 | ' | ' | ' | ' | ' | $1,413.10 | $1,490.60 | $1,208.20 | |||||||
[1] | Includes processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method of $40.3 million and $122.0 million for the three and nine months ended September 30, 2013, respectively, and $40.7 million and $119.4 million for the comparable periods in 2012. | ||||||||||||||||||||
[2] | Includes processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method of $159.8 million, $146.0 million and $134.6 million for the years ended December 31, 2012, 2011 and 2010, respectively. |
Segment_Information_Details_2
Segment Information (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Adjustment to reconcile to Adjusted revenue: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Official check and money order revenues | ($0.80) | ' | ($2.30) | ' | ' | ' | ' | ' | ' | ($3.20) | ($11.90) | $12.70 | $9.90 | ($8) |
Eliminations of intersegment revenues | -17.5 | ' | -15.5 | ' | ' | ' | ' | ' | ' | -49.7 | -45.1 | -61.6 | -65.1 | -62.4 |
Adjusted revenue | 1,708.40 | ' | 1,694.90 | ' | ' | ' | ' | ' | ' | 5,023.20 | 5,009.40 | 6,762 | 6,589 | 6,440.90 |
Adjustment to reconcile to Consolidated revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments for non-wholly-owned entities | 3 | ' | 11.8 | ' | ' | ' | ' | ' | ' | 26.3 | 48.5 | 73.2 | 179.7 | 224.1 |
Official check and money order revenues | 0.8 | ' | 2.3 | ' | ' | ' | ' | ' | ' | 3.2 | 11.9 | -12.7 | -9.9 | 8 |
ISO commission expense | 123.5 | ' | 120.6 | ' | ' | ' | ' | ' | ' | 362.6 | 355.7 | 470.9 | 403.5 | 333.8 |
Reimbursable debit network fees, postage and other | 876.4 | ' | 844.4 | ' | ' | ' | ' | ' | ' | 2,596.50 | 2,498 | 3,361.50 | 3,531.50 | 3,389.60 |
Total revenues | 2,712.10 | 2,756.80 | 2,674 | 2,685.50 | 2,564 | 2,687.80 | 2,731.80 | 2,749.80 | 2,544.20 | 8,011.80 | 7,923.50 | 10,680.30 | 10,713.60 | 10,380.40 |
Total reported segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of reportable segment amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Revenues | 1,694.70 | ' | 1,684.30 | ' | ' | ' | ' | ' | ' | 4,985.60 | 4,969.30 | 6,711.30 | 6,522.80 | 6,344.60 |
All Other and Corporate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of reportable segment amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Revenues | $32 | ' | $28.40 | ' | ' | ' | ' | ' | ' | $90.50 | $97.10 | $125 | $141.20 | $150.70 |
Segment_Information_Details_3
Segment Information (Details 3) (USD $) | 3 Months Ended | 4 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | 31-May-13 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||
Reconciliation of reportable segment amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment EBITDA | $627.10 | ' | $608.50 | ' | ' | ' | ' | ' | ' | ' | $1,780.20 | $1,780.20 | ' | ' | ' | ||||
Adjustments to reconcile to "Net loss attributable to First Data Corporation" | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Divested businesses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.1 | ||||
Adjustments for non-wholly owned entities | 0.5 | [1] | ' | 4.1 | [1] | ' | ' | ' | ' | ' | ' | ' | 3.2 | [1] | 3.8 | [1] | 6.8 | 59.5 | 34.3 |
Depreciation and amortization | -271.3 | ' | -293.5 | ' | ' | ' | ' | ' | ' | ' | -818.2 | -897.1 | -1,191.60 | -1,245 | -1,414.40 | ||||
Interest expense | -469 | -467.4 | -488.6 | -480.7 | -461.1 | -461.8 | -466.7 | -462.3 | -442.3 | ' | -1,410.20 | -1,430.40 | -1,897.80 | -1,833.10 | -1,796.60 | ||||
Interest income | 2.7 | 2.5 | 2.1 | 1.7 | 2.5 | 2.5 | 1.6 | 1.9 | 1.9 | ' | 8 | 6.3 | 8.8 | 7.9 | 7.8 | ||||
Other items | -49.8 | [2] | ' | -70.8 | [2] | ' | ' | ' | ' | ' | ' | ' | -86.4 | [2] | -137.1 | [2] | -156.9 | 62.4 | -97.4 |
Income tax benefit | -28.6 | -28.3 | 69.4 | 74.7 | 108.2 | 15.1 | 18.9 | 88.1 | 148 | ' | -101.7 | 252.3 | 224 | 270.1 | 323.8 | ||||
Stock-based compensation | -5.5 | ' | -3.4 | ' | ' | ' | ' | ' | ' | ' | -36.1 | -10.4 | -11.8 | -16.9 | -16.1 | ||||
Official check and money order EBITDA | 0.4 | ' | 1.4 | ' | ' | ' | ' | ' | ' | ' | 1.9 | 6.2 | 6.4 | -0.5 | -21.2 | ||||
Costs of alliance conversions | -17.8 | ' | -22.8 | ' | ' | ' | ' | ' | ' | ' | -59.1 | -56.5 | -77.2 | -28.4 | -25.7 | ||||
Stock plan modification expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.8 | ||||
KKR related items | -8.3 | ' | -8.4 | ' | ' | ' | ' | ' | ' | ' | -24.4 | -25.2 | -33.6 | -37.4 | -28.5 | ||||
Debt issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | -122 | ' | ' | -13.7 | -3.2 | -8.1 | ||||
Net loss attributable to First Data Corporation | -219.5 | -179 | -212 | -157.4 | -152.5 | -69.3 | -53.9 | -175.8 | -217.1 | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 | ||||
Total reported segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reconciliation of reportable segment amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment EBITDA | 699 | ' | 678.4 | ' | ' | ' | ' | ' | ' | ' | 1,981.90 | 1,966.20 | 2,681.70 | 2,455.30 | 2,205.10 | ||||
Adjustments to reconcile to "Net loss attributable to First Data Corporation" | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,141.50 | -1,329 | ||||
All Other and Corporate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reconciliation of reportable segment amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment EBITDA | -71.9 | ' | -69.9 | ' | ' | ' | ' | ' | ' | ' | -201.7 | -186 | -246 | -206.8 | -178.1 | ||||
Totals | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reconciliation of reportable segment amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,435.70 | $2,248.50 | $2,027 | ||||
[1] | (c) Represents the net adjustment to reflect First Data's proportionate share of alliance revenue and EBITDA within the Retail and Alliance Services segment, equity earnings in affiliates included in International segment revenue and amortization related to equity method investments not included in segment EBITDA. | ||||||||||||||||||
[2] | (d) Includes restructuring, certain retention bonuses, litigation and regulatory settlements, and impairments as applicable to the periods presented and "Other income (expense)" as presented in the Consolidated Statements of Operations. |
Segment_Information_Details_4
Segment Information (Details 4) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Segment assets | ' | ' | ' |
Total assets | $36,843.70 | $37,899 | $40,276.30 |
Retail and Alliance Services | ' | ' | ' |
Segment assets | ' | ' | ' |
Total assets | 25,607.60 | 25,885.70 | 27,882.20 |
Financial Services | ' | ' | ' |
Segment assets | ' | ' | ' |
Total assets | 4,192.30 | 4,477.10 | 4,647.80 |
International | ' | ' | ' |
Segment assets | ' | ' | ' |
Total assets | 5,061.40 | 5,305.70 | 5,332.90 |
All Other and Corporate | ' | ' | ' |
Segment assets | ' | ' | ' |
Total assets | $1,982.40 | $2,230.50 | $2,413.40 |
Segment_Information_Details_5
Segment Information (Details 5) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Reconciliation of reportable segment depreciation and amortization amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' |
Adjustments to reconcile to consolidated depreciation and amortization, Adjustments for non-wholly-owned entities | $20 | $25.50 | $60.30 | $76.70 | $101.10 | $115.10 | $107.20 |
Adjustments to reconcile to consolidated depreciation and amortization, Amortization of initial payments for new contracts | 10.4 | 12 | 30.7 | 33.7 | 44.5 | 42.5 | 38.6 |
Total consolidated depreciation and amortization | 301.4 | 326.9 | 908.1 | 1,004.10 | 1,330.90 | 1,344.20 | 1,526 |
Total reported segments | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of reportable segment depreciation and amortization amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | 261.6 | 279 | 782.4 | 860.2 | 1,140.20 | 1,141.50 | 1,329 |
All Other and Corporate | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of reportable segment depreciation and amortization amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | 9.4 | 10.4 | 34.7 | 33.5 | 45.1 | 45.1 | 51.2 |
Totals | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of reportable segment depreciation and amortization amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | $271 | $289.40 | $817.10 | $893.70 | $1,185.30 | $1,186.60 | $1,380.20 |
Segment_Information_Details_6
Segment Information (Details 6) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Information concerning principal geographic areas | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $2,712.10 | $2,756.80 | $2,674 | $2,685.50 | $2,564 | $2,687.80 | $2,731.80 | $2,749.80 | $2,544.20 | $8,011.80 | $7,923.50 | $10,680.30 | $10,713.60 | $10,380.40 |
Long-Lived Assets | ' | 23,723.20 | ' | ' | ' | 24,445.10 | ' | ' | ' | ' | ' | 23,723.20 | 24,445.10 | 25,403.60 |
United States | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Information concerning principal geographic areas | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,046 | 9,026.30 | 8,806.80 |
Long-Lived Assets | ' | 20,594.90 | ' | ' | ' | 21,154.60 | ' | ' | ' | ' | ' | 20,594.90 | 21,154.60 | 21,979 |
International | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Information concerning principal geographic areas | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,634.30 | 1,687.30 | 1,573.60 |
Long-Lived Assets | ' | $3,128.30 | ' | ' | ' | $3,290.50 | ' | ' | ' | ' | ' | $3,128.30 | $3,290.50 | $3,424.60 |
Quarterly_Financial_Results_Un2
Quarterly Financial Results (Unaudited) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Quarterly Financial Results (Unaudited) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $2,712.10 | $2,756.80 | $2,674 | $2,685.50 | $2,564 | $2,687.80 | $2,731.80 | $2,749.80 | $2,544.20 | $8,011.80 | $7,923.50 | $10,680.30 | $10,713.60 | $10,380.40 |
Expenses | 2,408.60 | 2,419.80 | 2,422.10 | 2,417.60 | 2,347 | 2,358 | 2,438.60 | 2,537.80 | 2,437.70 | 7,246.90 | 7,186.70 | 9,606.50 | 9,772.10 | 9,863.70 |
Operating profit | 303.5 | 337 | 251.9 | 267.9 | 217 | 329.8 | 293.2 | 212 | 106.5 | 764.9 | 736.8 | 1,073.80 | 941.5 | 516.7 |
Interest income | 2.7 | 2.5 | 2.1 | 1.7 | 2.5 | 2.5 | 1.6 | 1.9 | 1.9 | 8 | 6.3 | 8.8 | 7.9 | 7.8 |
Interest expense | -469 | -467.4 | -488.6 | -480.7 | -461.1 | -461.8 | -466.7 | -462.3 | -442.3 | -1,410.20 | -1,430.40 | -1,897.80 | -1,833.10 | -1,796.60 |
Other income (expense) | -36.2 | -11.5 | -52 | -22.6 | -8.2 | 56.4 | 95.4 | -1.4 | -26.3 | -20.9 | -82.8 | -94.3 | 124.1 | -15.9 |
Loss before income taxes and equity earnings in affiliates | -199 | -139.4 | -286.6 | -233.7 | -249.8 | -73.1 | -76.5 | -249.8 | -360.2 | -658.2 | -770.1 | -909.5 | -759.6 | -1,288 |
Income tax (benefit) expense | 28.6 | 28.3 | -69.4 | -74.7 | -108.2 | -15.1 | -18.9 | -88.1 | -148 | 101.7 | -252.3 | -224 | -270.1 | -323.8 |
Equity earnings in affiliates | 47.3 | 43.7 | 43 | 44 | 27.5 | 44.4 | 47.8 | 33.5 | 27.7 | 136 | 114.5 | 158.2 | 153.4 | 117.3 |
Net loss | -180.3 | -124 | -174.2 | -115 | -114.1 | -13.6 | -9.8 | -128.2 | -184.5 | -623.9 | -403.3 | -527.3 | -336.1 | -846.9 |
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | 39.2 | 55 | 37.8 | 42.4 | 38.4 | 55.7 | 44.1 | 47.6 | 32.6 | 122.1 | 118.6 | 173.6 | 180 | 174.9 |
Net loss attributable to First Data Corporation | ($219.50) | ($179) | ($212) | ($157.40) | ($152.50) | ($69.30) | ($53.90) | ($175.80) | ($217.10) | ($746) | ($521.90) | ($700.90) | ($516.10) | ($1,021.80) |
Quarterly_Financial_Results_Un3
Quarterly Financial Results (Unaudited) (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Nov. 30, 2011 |
Net pretax benefit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($751.30) | ($606.20) | ($1,170.70) | ' |
Net benefit after tax | -180.3 | -124 | -174.2 | -115 | -114.1 | -13.6 | -9.8 | -128.2 | -184.5 | -623.9 | -403.3 | -527.3 | -336.1 | -846.9 | ' |
Contra-revenue | 10.4 | ' | 12 | ' | ' | ' | ' | ' | ' | 30.7 | 33.7 | 44.5 | 42.5 | 38.6 | ' |
Expenses | 2,408.60 | 2,419.80 | 2,422.10 | 2,417.60 | 2,347 | 2,358 | 2,438.60 | 2,537.80 | 2,437.70 | 7,246.90 | 7,186.70 | 9,606.50 | 9,772.10 | 9,863.70 | ' |
Equity earnings in affiliates | 47.3 | 43.7 | 43 | 44 | 27.5 | 44.4 | 47.8 | 33.5 | 27.7 | 136 | 114.5 | 158.2 | 153.4 | 117.3 | ' |
Percentage of noncontrolling interest | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | 30.00% | ' | 30.00% |
Recognized pretax gain included in the "Other income (expense)" | ' | ' | ' | ' | ' | 59.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
State | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Valuation allowance on state net operating losses | ' | 47.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47.8 | ' | ' | ' |
Purchase accounting | Restatement adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net pretax benefit | ' | ' | ' | ' | ' | ' | 55.4 | ' | ' | ' | ' | ' | ' | ' | ' |
Net benefit after tax | ' | ' | ' | ' | ' | ' | 31.5 | ' | ' | ' | ' | ' | ' | ' | ' |
Contra-revenue | ' | ' | ' | ' | ' | ' | 1.6 | ' | ' | ' | ' | ' | ' | ' | ' |
Expenses | ' | ' | ' | ' | ' | ' | 44.3 | ' | ' | ' | ' | ' | ' | ' | ' |
Equity earnings in affiliates | ' | ' | ' | ' | ' | ' | $12.70 | ' | ' | ' | ' | ' | ' | ' | ' |
Occurrence period of errors and cumulative correction | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Nov. 30, 2011 |
Components of pretax (loss) income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Domestic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($875.50) | ($898.90) | ($1,289.10) | ' |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 124.2 | 292.7 | 118.4 | ' |
Total pretax (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -751.3 | -606.2 | -1,170.70 | ' |
(Benefit) provision for income taxes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -301.4 | -282.6 | -313.9 | ' |
State and local | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66 | -27.9 | -39.3 | ' |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.4 | 40.4 | 29.4 | ' |
Income tax benefit | 28.6 | 28.3 | -69.4 | -74.7 | -108.2 | -15.1 | -18.9 | -88.1 | -148 | 101.7 | -252.3 | -224 | -270.1 | -323.8 | ' |
Reconciliation of the Company's effective tax rates and the statutory rates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal statutory rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | 35.00% | 35.00% | ' |
State income taxes, net of federal income tax benefit (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.10% | 1.50% | 2.00% | ' |
Nontaxable income from noncontrolling interests (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.90% | 10.20% | 5.20% | ' |
Impact of foreign operations (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | 3.90% | 1.50% | ' |
Valuation allowances (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -20.20% | -12.70% | -15.10% | ' |
Liability for unrecognized tax benefits (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.10% | 3.30% | 2.10% | ' |
Impact of contribution to alliance (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.20% | ' | ' |
Prior year adjustments (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 2.50% | -1.20% | ' |
Other (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1.60% | 3.10% | -1.80% | ' |
Effective tax rate (as a percent) | 18.90% | ' | 28.50% | ' | ' | ' | ' | ' | ' | 19.50% | 38.50% | 29.80% | 44.60% | 27.70% | ' |
Percentage of interest in alliance (as a percent) | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | 30.00% | ' | 30.00% |
Percentage of effective tax rate impacted by current year cumulative correction of immaterial prior year errors | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.09 | ' | ' | ' |
Current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -60 | -54 | -27.7 | ' |
State and local | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16 | 25.8 | 18.3 | ' |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38.6 | 61.8 | 57.7 | ' |
Total current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5.4 | 33.6 | 48.3 | ' |
Deferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -241.4 | -228.6 | -286.2 | ' |
State and local | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50 | -53.7 | -57.6 | ' |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -27.2 | -21.4 | -28.3 | ' |
Total deferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -218.6 | -303.7 | -372.1 | ' |
Income tax benefit | 28.6 | 28.3 | -69.4 | -74.7 | -108.2 | -15.1 | -18.9 | -88.1 | -148 | 101.7 | -252.3 | -224 | -270.1 | -323.8 | ' |
Income tax payments, net of refunds received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70.1 | 67.2 | 100.5 | ' |
Deferred tax assets related to: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reserves and other accrued expenses | ' | 543.5 | ' | ' | ' | 450.3 | ' | ' | ' | ' | ' | 543.5 | 450.3 | ' | ' |
Pension obligations | ' | 47.9 | ' | ' | ' | 44.2 | ' | ' | ' | ' | ' | 47.9 | 44.2 | ' | ' |
Employee related liabilities | ' | 75.7 | ' | ' | ' | 64 | ' | ' | ' | ' | ' | 75.7 | 64 | ' | ' |
Deferred revenues | ' | 30 | ' | ' | ' | 26.7 | ' | ' | ' | ' | ' | 30 | 26.7 | ' | ' |
Unrealized securities and hedging (gain)/loss | ' | ' | ' | ' | ' | 42.2 | ' | ' | ' | ' | ' | ' | 42.2 | ' | ' |
Net operating losses and tax credit carryforwards | ' | 1,383.60 | ' | ' | ' | 1,336.50 | ' | ' | ' | ' | ' | 1,383.60 | 1,336.50 | ' | ' |
U.S. foreign tax credits on undistributed earnings | ' | 234.8 | ' | ' | ' | 203.2 | ' | ' | ' | ' | ' | 234.8 | 203.2 | ' | ' |
Foreign exchange (gain)/loss | ' | 48.5 | ' | ' | ' | 61.5 | ' | ' | ' | ' | ' | 48.5 | 61.5 | ' | ' |
Total deferred tax assets | ' | 2,364 | ' | ' | ' | 2,228.60 | ' | ' | ' | ' | ' | 2,364 | 2,228.60 | ' | ' |
Valuation allowance | ' | -896.5 | ' | ' | ' | -744.6 | ' | ' | ' | ' | ' | -896.5 | -744.6 | ' | ' |
Realizable deferred tax assets | ' | 1,467.50 | ' | ' | ' | 1,484 | ' | ' | ' | ' | ' | 1,467.50 | 1,484 | ' | ' |
Deferred tax liabilities related to: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, equipment and intangibles | ' | -1,206 | ' | ' | ' | -1,382 | ' | ' | ' | ' | ' | -1,206 | -1,382 | ' | ' |
Investment in affiliates and other | ' | -512.3 | ' | ' | ' | -532.7 | ' | ' | ' | ' | ' | -512.3 | -532.7 | ' | ' |
Unrealized securities and hedging (gain)/loss | ' | -0.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.6 | ' | ' | ' |
U.S. tax on foreign undistributed earnings | ' | -173.8 | ' | ' | ' | -145.9 | ' | ' | ' | ' | ' | -173.8 | -145.9 | ' | ' |
Total deferred tax liabilities | ' | -1,892.70 | ' | ' | ' | -2,060.60 | ' | ' | ' | ' | ' | -1,892.70 | -2,060.60 | ' | ' |
Net deferred tax liabilities | ' | -425.2 | ' | ' | ' | -576.6 | ' | ' | ' | ' | ' | -425.2 | -576.6 | ' | ' |
Deferred tax assets and liabilities included in the consolidated balance sheets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current deferred tax assets | ' | 73.9 | ' | ' | ' | 108.3 | ' | ' | ' | ' | ' | 73.9 | 108.3 | ' | ' |
Long-term deferred tax assets | ' | 10.4 | ' | ' | ' | 10.5 | ' | ' | ' | ' | ' | 10.4 | 10.5 | ' | ' |
Long-term deferred tax liabilities | -553.1 | -509.5 | ' | ' | ' | -695.4 | ' | ' | ' | -553.1 | ' | -509.5 | -695.4 | ' | ' |
Net deferred tax liabilities | ' | -425.2 | ' | ' | ' | -576.6 | ' | ' | ' | ' | ' | -425.2 | -576.6 | ' | ' |
Valuation allowance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Valuation allowances | ' | 896.5 | ' | ' | ' | 744.6 | ' | ' | ' | ' | ' | 896.5 | 744.6 | ' | ' |
Increase to the valuation allowance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $151.90 | ' | ' | ' |
Income_Taxes_Details_2
Income Taxes (Details 2) (USD $) | Dec. 31, 2012 |
In Millions, unless otherwise specified | |
General business | ' |
Amounts of federal, state and foreign net operating loss carryforwards and foreign tax credit, general business credit and minimum tax credit carryforwards | ' |
Tax credit carryforwards | $11.10 |
Minimum tax credit | ' |
Amounts of federal, state and foreign net operating loss carryforwards and foreign tax credit, general business credit and minimum tax credit carryforwards | ' |
Tax credit carryforwards | 1.6 |
Federal | ' |
Amounts of federal, state and foreign net operating loss carryforwards and foreign tax credit, general business credit and minimum tax credit carryforwards | ' |
Net operating loss carryforwards | 1,766.10 |
State | ' |
Amounts of federal, state and foreign net operating loss carryforwards and foreign tax credit, general business credit and minimum tax credit carryforwards | ' |
Net operating loss carryforwards | 2,759.20 |
Foreign | ' |
Amounts of federal, state and foreign net operating loss carryforwards and foreign tax credit, general business credit and minimum tax credit carryforwards | ' |
Net operating loss carryforwards | 2,450 |
Tax credit carryforwards | 144.1 |
Net operating loss carryforwards expire in years 2013 through 2027, if not utilized | 137 |
Net operating loss carryforwards having an indefinite life | $2,313 |
Income_Taxes_Details_3
Income Taxes (Details 3) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 |
Reconciliation of the unrecognized tax benefits | ' | ' | ' | ' |
Balance at the beginning of the period | $334.70 | $368.60 | $415 | $288 |
Increases for tax positions of prior years | 5.5 | 1.3 | 0.5 | ' |
Decreases for tax positions of prior years | -57.7 | -28.5 | -45.4 | ' |
Increases for tax positions related to the current period | 6.2 | 1.7 | 1.9 | ' |
Decreases for cash settlements with taxing authorities | -0.1 | -1 | -1.4 | ' |
Decreases due to the lapse of the applicable statute of limitations | -2.4 | -7.4 | -2 | ' |
Balance at the end of the period | 286.2 | 334.7 | 368.6 | 288 |
Additional disclosures | ' | ' | ' | ' |
Unrecognized tax benefits included in the other long-term liabilities, net of the federal benefit on state income taxes | 21 | ' | ' | ' |
Amount of tax positions included in unrecognized tax benefits that if recognized, would affect the effective tax rate | 163 | 172 | 195 | ' |
Accrued interest expense and the cumulative accrued interest and penalties | ' | ' | ' | ' |
Current year accrued interest expense (net of related tax benefits) | 4 | 9 | 14 | ' |
Cumulative accrued interest and penalties (net of related tax benefits) | 47 | 69 | 67 | ' |
IRS | ' | ' | ' | ' |
Reconciliation of the unrecognized tax benefits | ' | ' | ' | ' |
Decreases for cash settlements with taxing authorities | ($52) | ($25) | ($39) | ' |
Income_Taxes_Details_4
Income Taxes (Details 4) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Potential settlements with certain states and foreign countries | |
Reasonably possible decrease in unrecognized tax benefits liability within the next twelve months | ' | ' |
Reasonably possible decrease in uncertain income tax liabilities within the next twelve months | $138 | $126 |
Income_Taxes_Details_5
Income Taxes (Details 5) (USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2009 |
Income tax uncertainties | ' | ' | ' | ' | ' |
Uncertain income tax liabilities | $286.20 | $334.70 | $368.60 | $288 | $415 |
Uncertain income tax liabilities decreased as a result of agreements reached with the IRS | 0.1 | 1 | 1.4 | ' | ' |
Reasonably possible decrease in uncertain income tax liabilities within the next twelve months | ' | ' | ' | 138 | ' |
Western Union | ' | ' | ' | ' | ' |
Income tax uncertainties | ' | ' | ' | ' | ' |
Income taxes payable | 110 | ' | ' | ' | ' |
Uncertain income tax liabilities | 4 | ' | ' | ' | ' |
Uncertain income tax liabilities decreased as a result of agreements reached with the IRS | 14 | ' | ' | ' | ' |
Reasonably possible decrease in uncertain income tax liabilities within the next twelve months | $4 | ' | ' | ' | ' |
Income_Taxes_Details_6
Income Taxes (Details 6) (IRS, USD $) | 0 Months Ended |
In Millions, unless otherwise specified | Oct. 31, 2010 |
Income tax examination | ' |
Estimated interest (pretax) | $16 |
Disputed adjustments | 59 |
First Data | ' |
Income tax examination | ' |
Estimated interest (pretax) | 9 |
Disputed adjustments | 40 |
Western Union | ' |
Income tax examination | ' |
Estimated interest (pretax) | 7 |
Disputed adjustments | 19 |
Undisputed | ' |
Income tax examination | ' |
Undisputed income taxes due | 40 |
Estimated interest (pretax) | $16 |
Investment_in_Affiliates_Detai
Investment in Affiliates (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Nov. 30, 2011 | |
item | item | ||||||||||||||
Investment in affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interest (as a percent) | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | 30.00% | ' | 30.00% |
Recognized pretax gain included in the "Other income (expense)" | ' | ' | ' | ' | ' | $59,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount funded to an equity method investee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,900,000 | 7,900,000 | 161,500,000 | 1,400,000 | ' |
Number of affiliates accounted for under the equity method of accounting | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | ' |
Number of merchant alliance affiliates accounted for under the equity method of accounting | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' |
Number of affiliates in related markets accounted for under the equity method of accounting | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' |
Unaudited financial information related to balance sheet | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | ' | 2,834,800,000 | ' | ' | ' | 2,820,300,000 | ' | ' | ' | ' | ' | 2,834,800,000 | 2,820,300,000 | ' | ' |
Total liabilities | ' | 2,467,900,000 | ' | ' | ' | 2,514,700,000 | ' | ' | ' | ' | ' | 2,467,900,000 | 2,514,700,000 | ' | ' |
Unaudited financial information related to income statement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net operating revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,278,400,000 | 1,114,400,000 | 999,100,000 | ' |
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 630,200,000 | 577,400,000 | 520,600,000 | ' |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 648,200,000 | 537,000,000 | 478,500,000 | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 639,400,000 | 509,800,000 | 455,600,000 | ' |
FDC equity earnings | 47,300,000 | 43,700,000 | 43,000,000 | 44,000,000 | 27,500,000 | 44,400,000 | 47,800,000 | 33,500,000 | 27,700,000 | 136,000,000 | 114,500,000 | 158,200,000 | 153,400,000 | 117,300,000 | ' |
Additional information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount by which the total of the entities investments in affiliates exceeded its proportionate share of the investees' net assets | ' | 1,300,000,000 | ' | ' | ' | 1,400,000,000 | ' | ' | ' | ' | ' | 1,300,000,000 | 1,400,000,000 | ' | ' |
Estimated future amortization expense for intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2013 | ' | 78,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 78,400,000 | ' | ' | ' |
2014 | ' | 62,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62,200,000 | ' | ' | ' |
2015 | ' | 57,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 57,100,000 | ' | ' | ' |
2016 | ' | 52,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52,300,000 | ' | ' | ' |
2017 | ' | 49,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49,100,000 | ' | ' | ' |
Thereafter | ' | 48,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,200,000 | ' | ' | ' |
TCH LLC | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling interest (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% |
Recognized pretax gain included in the "Other income (expense)" | ' | ' | ' | ' | ' | 59,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
One of merchant alliance partners | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount funded to an equity method investee | ' | ' | ' | ' | ' | $160,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental_Guarantor_Condens2
Supplemental Guarantor Condensed Consolidating Financial Statements (Details) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||
Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Apr. 10, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Jan. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 23, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
item | item | Guarantor Subsidiaries | Guarantor Subsidiaries | Guarantor Subsidiaries | Guarantor Subsidiaries | 9.875% senior notes due 2015 | 9.875% senior notes due 2015 | 12.625% senior notes | 12.625% senior notes | 10.55% senior notes | 10.55% senior notes | 11.25% senior subordinated notes due 2016 | 8.875% senior secured notes | 8.875% senior secured notes | 7.375% senior secured notes | 7.375% senior secured notes | 7.375% senior secured notes | 6.750% senior secured notes due 2020 | 6.750% senior secured notes due 2020 | 8.25% senior second lien notes | 8.75% / 10.00 PIK toggle senior second lien note | 8.75% / 10.00 PIK toggle senior second lien note | |
Minimum | Minimum | ||||||||||||||||||||||
Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate (as a percent) | ' | ' | ' | ' | ' | ' | 9.88% | 9.88% | 12.63% | 12.63% | 10.55% | 10.55% | 11.25% | 8.88% | 8.88% | 7.38% | 7.38% | 7.38% | 6.75% | 6.75% | 8.25% | ' | ' |
Interest rate on toggle note if interest is paid (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.75% | 8.75% |
Interest rate on toggle note if interest is added to principal (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% |
Ownership percentage in Guarantors | ' | ' | 100.00% | 100.00% | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of entities for which ownership structure was reorganized for tax purposes | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental_Guarantor_Condens3
Supplemental Guarantor Condensed Consolidating Financial Statements (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | ($199) | ($139.40) | ($286.60) | ($233.70) | ($249.80) | ($73.10) | ($76.50) | ($249.80) | ($360.20) | ($658.20) | ($770.10) | ($909.50) | ($759.60) | ($1,288) |
Income tax (benefit) expense | 28.6 | 28.3 | -69.4 | -74.7 | -108.2 | -15.1 | -18.9 | -88.1 | -148 | 101.7 | -252.3 | -224 | -270.1 | -323.8 |
Net (loss) income | -180.3 | -124 | -174.2 | -115 | -114.1 | -13.6 | -9.8 | -128.2 | -184.5 | -623.9 | -403.3 | -527.3 | -336.1 | -846.9 |
Net (loss) income attributable to First Data Corporation | -219.5 | -179 | -212 | -157.4 | -152.5 | -69.3 | -53.9 | -175.8 | -217.1 | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | -310.4 | ' | -377.6 | ' | ' | ' | ' | ' | ' | -936.1 | -996.5 | -1,244.10 | -1,107.70 | -1,576.30 |
Income tax (benefit) expense | -90.9 | ' | -165.6 | ' | ' | ' | ' | ' | ' | -190.1 | -474.6 | -543.2 | -591.6 | -554.5 |
Net (loss) income | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
Net (loss) income attributable to First Data Corporation | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | 168.2 | ' | 113.3 | ' | ' | ' | ' | ' | ' | 383.7 | 419.3 | 563.5 | 458 | 397 |
Income tax (benefit) expense | 68.6 | ' | 67.5 | ' | ' | ' | ' | ' | ' | 185 | 199.8 | 273.7 | 243.4 | 124.3 |
Net (loss) income | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 |
Net (loss) income attributable to First Data Corporation | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | 130.8 | ' | 145.8 | ' | ' | ' | ' | ' | ' | 368.8 | 304 | 473.4 | 476.2 | 317.3 |
Income tax (benefit) expense | 50.9 | ' | 28.7 | ' | ' | ' | ' | ' | ' | 106.8 | 22.5 | 45.5 | 78.1 | 106.4 |
Net (loss) income | 79.9 | ' | 117.4 | ' | ' | ' | ' | ' | ' | 262.6 | 282.7 | 428.7 | 397.9 | 212.4 |
Net (loss) income attributable to First Data Corporation | 65.7 | ' | 102.5 | ' | ' | ' | ' | ' | ' | 223.3 | 238.8 | 366.8 | 338.3 | 163.3 |
Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -426 |
Net (loss) income | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -427.9 |
Net (loss) income attributable to First Data Corporation | -212.6 | ' | -191 | ' | ' | ' | ' | ' | ' | -557.4 | -571.6 | -814 | -706.5 | -553.7 |
Increase (Decrease) from Amounts Previously Reported | FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | 10.8 | ' | ' | ' | ' | ' | ' | ' | 35.3 | ' | 110.4 | 44 |
Income tax (benefit) expense | ' | ' | 10.8 | ' | ' | ' | ' | ' | ' | ' | 35.3 | ' | 110.4 | 44 |
Increase (Decrease) from Amounts Previously Reported | Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | -27.6 | ' | ' | ' | ' | ' | ' | ' | -92.7 | ' | -260.1 | -108.6 |
Income tax (benefit) expense | ' | ' | -10.4 | ' | ' | ' | ' | ' | ' | ' | -34.7 | ' | -97.9 | -40.4 |
Net (loss) income | ' | ' | -17.2 | ' | ' | ' | ' | ' | ' | ' | -58 | ' | -162.2 | -68.2 |
Net (loss) income attributable to First Data Corporation | ' | ' | -17.2 | ' | ' | ' | ' | ' | ' | ' | -58 | ' | -161.9 | -68.4 |
Increase (Decrease) from Amounts Previously Reported | Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | -1.1 | ' | ' | ' | ' | ' | ' | ' | -1.6 | ' | -36.6 | -9.4 |
Income tax (benefit) expense | ' | ' | -0.4 | ' | ' | ' | ' | ' | ' | ' | -0.6 | ' | -12.5 | -3.6 |
Net (loss) income | ' | ' | -0.7 | ' | ' | ' | ' | ' | ' | ' | -1 | ' | -24.1 | -5.8 |
Net (loss) income attributable to First Data Corporation | ' | ' | -0.7 | ' | ' | ' | ' | ' | ' | ' | -1 | ' | -24.4 | -5.6 |
Increase (Decrease) from Amounts Previously Reported | Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | 17.9 | ' | ' | ' | ' | ' | ' | ' | 59 | ' | 186.3 | 74 |
Net (loss) income | ' | ' | 17.9 | ' | ' | ' | ' | ' | ' | ' | 59 | ' | 186.3 | 74 |
Net (loss) income attributable to First Data Corporation | ' | ' | $17.90 | ' | ' | ' | ' | ' | ' | ' | $59 | ' | $186.30 | $74 |
Supplemental_Guarantor_Condens4
Supplemental Guarantor Condensed Consolidating Financial Statements (Details 3) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services | $708.60 | ' | $729 | ' | ' | ' | ' | ' | ' | $2,119.20 | $2,137.80 | $2,863.50 | $2,888.40 | $3,023.30 |
Selling, general and administrative | 463.6 | ' | 467.9 | ' | ' | ' | ' | ' | ' | 1,420.10 | 1,373.30 | 1,825.40 | 1,693.70 | 1,579.70 |
Operating (loss) profit | 303.5 | 337 | 251.9 | 267.9 | 217 | 329.8 | 293.2 | 212 | 106.5 | 764.9 | 736.8 | 1,073.80 | 941.5 | 516.7 |
(Loss) income before income taxes and equity earnings in affiliates | -199 | -139.4 | -286.6 | -233.7 | -249.8 | -73.1 | -76.5 | -249.8 | -360.2 | -658.2 | -770.1 | -909.5 | -759.6 | -1,288 |
Income tax (benefit) expense | 28.6 | 28.3 | -69.4 | -74.7 | -108.2 | -15.1 | -18.9 | -88.1 | -148 | 101.7 | -252.3 | -224 | -270.1 | -323.8 |
Net loss | -180.3 | -124 | -174.2 | -115 | -114.1 | -13.6 | -9.8 | -128.2 | -184.5 | -623.9 | -403.3 | -527.3 | -336.1 | -846.9 |
Net (loss) income attributable to First Data Corporation | -219.5 | -179 | -212 | -157.4 | -152.5 | -69.3 | -53.9 | -175.8 | -217.1 | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | 27 | ' | 44.7 | ' | ' | ' | ' | ' | ' | 93.7 | 105.6 | 89.4 | 107.8 | 264.7 |
Operating (loss) profit | -32 | ' | -46.6 | ' | ' | ' | ' | ' | ' | -116.3 | -111.4 | -97.3 | -113 | -285 |
Interest income (expense) from intercompany notes | 79.2 | ' | 78.1 | ' | ' | ' | ' | ' | ' | 236.3 | 234.4 | 313 | 306.7 | 230.3 |
Equity earnings from consolidated subsidiaries | 157.2 | ' | 128.5 | ' | ' | ' | ' | ' | ' | 371.1 | 375.9 | 522.6 | 452.2 | 249.8 |
(Loss) income before income taxes and equity earnings in affiliates | -310.4 | ' | -377.6 | ' | ' | ' | ' | ' | ' | -936.1 | -996.5 | -1,244.10 | -1,107.70 | -1,576.30 |
Income tax (benefit) expense | -90.9 | ' | -165.6 | ' | ' | ' | ' | ' | ' | -190.1 | -474.6 | -543.2 | -591.6 | -554.5 |
Net loss | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
Net (loss) income attributable to First Data Corporation | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services | 461.6 | ' | 494.4 | ' | ' | ' | ' | ' | ' | 1,401.40 | 1,361.10 | 1,829.60 | 1,896.40 | 1,949.60 |
Selling, general and administrative | 302.2 | ' | 293.5 | ' | ' | ' | ' | ' | ' | 923.4 | 877.2 | 1,217.30 | 1,095.40 | 877.2 |
Operating (loss) profit | 216 | ' | 164.7 | ' | ' | ' | ' | ' | ' | 516.2 | 552.2 | 718.9 | 574.6 | 470 |
Interest income (expense) from intercompany notes | -77.5 | ' | -80 | ' | ' | ' | ' | ' | ' | -233.4 | -240 | -320 | -311.9 | -249.7 |
Equity earnings from consolidated subsidiaries | 30.4 | ' | 39.6 | ' | ' | ' | ' | ' | ' | 103.5 | 121 | 179.7 | 133.9 | 150.2 |
(Loss) income before income taxes and equity earnings in affiliates | 168.2 | ' | 113.3 | ' | ' | ' | ' | ' | ' | 383.7 | 419.3 | 563.5 | 458 | 397 |
Income tax (benefit) expense | 68.6 | ' | 67.5 | ' | ' | ' | ' | ' | ' | 185 | 199.8 | 273.7 | 243.4 | 124.3 |
Net loss | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 |
Net (loss) income attributable to First Data Corporation | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services | 302.3 | ' | 282.5 | ' | ' | ' | ' | ' | ' | 884.2 | 919.9 | 1,234.10 | 1,155 | 1,222.20 |
Selling, general and administrative | 134.4 | ' | 129.7 | ' | ' | ' | ' | ' | ' | 403 | 390.5 | 518.7 | 490.5 | 437.8 |
Operating (loss) profit | 119.5 | ' | 133.8 | ' | ' | ' | ' | ' | ' | 365 | 296 | 452.2 | 479.9 | 331.7 |
Interest income (expense) from intercompany notes | -1.7 | ' | 1.9 | ' | ' | ' | ' | ' | ' | -2.9 | 5.6 | 7 | 5.2 | 19.4 |
(Loss) income before income taxes and equity earnings in affiliates | 130.8 | ' | 145.8 | ' | ' | ' | ' | ' | ' | 368.8 | 304 | 473.4 | 476.2 | 317.3 |
Income tax (benefit) expense | 50.9 | ' | 28.7 | ' | ' | ' | ' | ' | ' | 106.8 | 22.5 | 45.5 | 78.1 | 106.4 |
Net loss | 79.9 | ' | 117.4 | ' | ' | ' | ' | ' | ' | 262.6 | 282.7 | 428.7 | 397.9 | 212.4 |
Net (loss) income attributable to First Data Corporation | 65.7 | ' | 102.5 | ' | ' | ' | ' | ' | ' | 223.3 | 238.8 | 366.8 | 338.3 | 163.3 |
Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services | -55.3 | ' | -47.9 | ' | ' | ' | ' | ' | ' | -166.4 | -143.2 | -200.2 | -163 | -148.5 |
Equity earnings from consolidated subsidiaries | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -400 |
(Loss) income before income taxes and equity earnings in affiliates | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -426 |
Net loss | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -427.9 |
Net (loss) income attributable to First Data Corporation | -212.6 | ' | -191 | ' | ' | ' | ' | ' | ' | -557.4 | -571.6 | -814 | -706.5 | -553.7 |
As previously reported | FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 110 | ' | 259.7 | ' |
Operating (loss) profit | ' | ' | -46.6 | ' | ' | ' | ' | ' | ' | ' | -115.8 | ' | -264.9 | -285 |
Interest income (expense) from intercompany notes | ' | ' | 49.4 | ' | ' | ' | ' | ' | ' | ' | 144.3 | ' | 162.5 | 112.3 |
Equity earnings from consolidated subsidiaries | ' | ' | 146.4 | ' | ' | ' | ' | ' | ' | ' | 435.1 | ' | 637.9 | 323.8 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | -388.4 | ' | ' | ' | ' | ' | ' | ' | -1,031.80 | ' | -1,218.10 | -1,620.30 |
Income tax (benefit) expense | ' | ' | -176.4 | ' | ' | ' | ' | ' | ' | ' | -509.9 | ' | -702 | -598.5 |
Net loss | ' | ' | -212 | ' | ' | ' | ' | ' | ' | ' | -521.9 | ' | -516.1 | -1,021.80 |
Net (loss) income attributable to First Data Corporation | ' | ' | -212 | ' | ' | ' | ' | ' | ' | ' | -521.9 | ' | -516.1 | -1,021.80 |
As previously reported | Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services | ' | ' | 496.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,909.80 | 1,944.30 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 875.7 | ' | 957.8 | ' |
Operating (loss) profit | ' | ' | 163 | ' | ' | ' | ' | ' | ' | ' | 553.7 | ' | 698.8 | 475.3 |
Interest income (expense) from intercompany notes | ' | ' | -50.7 | ' | ' | ' | ' | ' | ' | ' | -148.6 | ' | -176.6 | -146.4 |
Equity earnings from consolidated subsidiaries | ' | ' | 39.6 | ' | ' | ' | ' | ' | ' | ' | 120.8 | ' | 134.5 | 150.2 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | 140.9 | ' | ' | ' | ' | ' | ' | ' | 512 | ' | 718.1 | 505.6 |
Income tax (benefit) expense | ' | ' | 77.9 | ' | ' | ' | ' | ' | ' | ' | 234.5 | ' | 341.3 | 164.7 |
Net loss | ' | ' | 105.7 | ' | ' | ' | ' | ' | ' | ' | 390.8 | ' | 530.4 | 458.6 |
Net (loss) income attributable to First Data Corporation | ' | ' | 105.7 | ' | ' | ' | ' | ' | ' | ' | 390.8 | ' | 530.1 | 458.8 |
As previously reported | Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services | ' | ' | 280.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,141.60 | 1,227.50 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 387.6 | ' | 476.2 | ' |
Operating (loss) profit | ' | ' | 135.5 | ' | ' | ' | ' | ' | ' | ' | 298.9 | ' | 507.6 | 326.4 |
Interest income (expense) from intercompany notes | ' | ' | 1.3 | ' | ' | ' | ' | ' | ' | ' | 4.3 | ' | 14.1 | 34.1 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | 146.9 | ' | ' | ' | ' | ' | ' | ' | 305.6 | ' | 512.8 | 326.7 |
Income tax (benefit) expense | ' | ' | 29.1 | ' | ' | ' | ' | ' | ' | ' | 23.1 | ' | 90.6 | 110 |
Net loss | ' | ' | 118.1 | ' | ' | ' | ' | ' | ' | ' | 283.7 | ' | 422 | 218.2 |
Net (loss) income attributable to First Data Corporation | ' | ' | 103.2 | ' | ' | ' | ' | ' | ' | ' | 239.8 | ' | 362.7 | 168.9 |
As previously reported | Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services | ' | ' | -47.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -163 | -148.5 |
Equity earnings from consolidated subsidiaries | ' | ' | -186 | ' | ' | ' | ' | ' | ' | ' | -555.9 | ' | -772.4 | -474 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | -186 | ' | ' | ' | ' | ' | ' | ' | -555.9 | ' | -772.4 | -500 |
Net loss | ' | ' | -186 | ' | ' | ' | ' | ' | ' | ' | -555.9 | ' | -772.4 | -501.9 |
Net (loss) income attributable to First Data Corporation | ' | ' | -208.9 | ' | ' | ' | ' | ' | ' | ' | -630.6 | ' | -892.8 | -627.7 |
As corrected | FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 105.6 | ' | 107.8 | ' |
Operating (loss) profit | ' | ' | -46.6 | ' | ' | ' | ' | ' | ' | ' | -111.4 | ' | -113 | -285 |
Interest income (expense) from intercompany notes | ' | ' | 78.1 | ' | ' | ' | ' | ' | ' | ' | 234.4 | ' | 306.7 | 230.3 |
Equity earnings from consolidated subsidiaries | ' | ' | 128.5 | ' | ' | ' | ' | ' | ' | ' | 375.9 | ' | 452.2 | 249.8 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | -377.6 | ' | ' | ' | ' | ' | ' | ' | -996.5 | ' | -1,107.70 | -1,576.30 |
Income tax (benefit) expense | ' | ' | -165.6 | ' | ' | ' | ' | ' | ' | ' | -474.6 | ' | -591.6 | -554.5 |
Net loss | ' | ' | -212 | ' | ' | ' | ' | ' | ' | ' | -521.9 | ' | -516.1 | -1,021.80 |
Net (loss) income attributable to First Data Corporation | ' | ' | -212 | ' | ' | ' | ' | ' | ' | ' | -521.9 | ' | -516.1 | -1,021.80 |
As corrected | Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services | ' | ' | 494.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,896.40 | 1,949.60 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 877.2 | ' | 1,095.40 | ' |
Operating (loss) profit | ' | ' | 164.7 | ' | ' | ' | ' | ' | ' | ' | 552.2 | ' | 574.6 | 470 |
Interest income (expense) from intercompany notes | ' | ' | -80 | ' | ' | ' | ' | ' | ' | ' | -240 | ' | -311.9 | -249.7 |
Equity earnings from consolidated subsidiaries | ' | ' | 39.6 | ' | ' | ' | ' | ' | ' | ' | 121 | ' | 133.9 | 150.2 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | 113.3 | ' | ' | ' | ' | ' | ' | ' | 419.3 | ' | 458 | 397 |
Income tax (benefit) expense | ' | ' | 67.5 | ' | ' | ' | ' | ' | ' | ' | 199.8 | ' | 243.4 | 124.3 |
Net loss | ' | ' | 88.5 | ' | ' | ' | ' | ' | ' | ' | 332.8 | ' | 368.2 | 390.4 |
Net (loss) income attributable to First Data Corporation | ' | ' | 88.5 | ' | ' | ' | ' | ' | ' | ' | 332.8 | ' | 368.2 | 390.4 |
As corrected | Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services | ' | ' | 282.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,155 | 1,222.20 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 390.5 | ' | 490.5 | ' |
Operating (loss) profit | ' | ' | 133.8 | ' | ' | ' | ' | ' | ' | ' | 296 | ' | 479.9 | 331.7 |
Interest income (expense) from intercompany notes | ' | ' | 1.9 | ' | ' | ' | ' | ' | ' | ' | 5.6 | ' | 5.2 | 19.4 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | 145.8 | ' | ' | ' | ' | ' | ' | ' | 304 | ' | 476.2 | 317.3 |
Income tax (benefit) expense | ' | ' | 28.7 | ' | ' | ' | ' | ' | ' | ' | 22.5 | ' | 78.1 | 106.4 |
Net loss | ' | ' | 117.4 | ' | ' | ' | ' | ' | ' | ' | 282.7 | ' | 397.9 | 212.4 |
Net (loss) income attributable to First Data Corporation | ' | ' | 102.5 | ' | ' | ' | ' | ' | ' | ' | 238.8 | ' | 338.3 | 163.3 |
As corrected | Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services | ' | ' | -47.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -163 | -148.5 |
Equity earnings from consolidated subsidiaries | ' | ' | -168.1 | ' | ' | ' | ' | ' | ' | ' | -496.9 | ' | -586.1 | -400 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | -168.1 | ' | ' | ' | ' | ' | ' | ' | -496.9 | ' | -586.1 | -426 |
Net loss | ' | ' | -168.1 | ' | ' | ' | ' | ' | ' | ' | -496.9 | ' | -586.1 | -427.9 |
Net (loss) income attributable to First Data Corporation | ' | ' | ($191) | ' | ' | ' | ' | ' | ' | ' | ($571.60) | ' | ($706.50) | ($553.70) |
Supplemental_Guarantor_Condens5
Supplemental Guarantor Condensed Consolidating Financial Statements (Details 4) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 |
In Millions, unless otherwise specified | ||||||
ASSETS | ' | ' | ' | ' | ' | ' |
Total current assets | $11,524.30 | $11,883.40 | ' | $13,315.50 | ' | ' |
Goodwill | 17,232 | 17,282.50 | ' | 17,204.60 | 17,296.90 | ' |
Total assets | 36,843.70 | 37,899 | ' | 40,276.30 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' |
Total current liabilities | 11,071.60 | 11,344.90 | ' | 12,820.20 | ' | ' |
Total liabilities | 34,975.90 | 35,205.20 | ' | 36,800.90 | ' | ' |
First Data Corporation stockholder's (deficit) equity | -1,395.60 | -598.5 | ' | 96.6 | ' | ' |
Total equity | 1,799.90 | 2,626.40 | 2,841.80 | 3,408 | 4,059.90 | 5,100.10 |
Total liabilities and equity | 36,843.70 | 37,899 | ' | 40,276.30 | ' | ' |
FDC Parent Company | ' | ' | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' |
Current Intercompany notes receivable | 12.5 | ' | ' | 12.2 | ' | ' |
Total current assets | 96.6 | 305.4 | ' | 245.4 | ' | ' |
Long-term intercompany notes receivable | 3,496.60 | 3,397.30 | ' | 3,229.40 | ' | ' |
Investment in consolidated subsidiaries | 24,665.80 | 24,308.90 | ' | 23,797.40 | ' | ' |
Total assets | 30,196.30 | 30,102.40 | ' | 28,376.10 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' |
Current Intercompany notes payable | 22.7 | 30.8 | ' | 62.5 | ' | ' |
Total current liabilities | 594.4 | 667.8 | ' | 760.4 | ' | ' |
Long-term intercompany payable | 7,633.30 | 6,642.40 | ' | 5,292.90 | ' | ' |
Long-term intercompany notes payable | 286.1 | 276.7 | ' | 260.6 | ' | ' |
Total liabilities | 31,591.90 | 30,700.90 | ' | 28,279.50 | ' | ' |
First Data Corporation stockholder's (deficit) equity | -1,395.60 | -598.5 | ' | 96.6 | ' | ' |
Total equity | -1,395.60 | -598.5 | ' | 96.6 | ' | ' |
Total liabilities and equity | 30,196.30 | 30,102.40 | ' | 28,376.10 | ' | ' |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' |
Total current assets | 5,888.50 | 6,159.30 | ' | 7,281.70 | ' | ' |
Goodwill | 9,483.90 | 9,485.30 | ' | 9,430.90 | ' | ' |
Long-term intercompany notes receivable | 284.1 | 270 | ' | 251.5 | ' | ' |
Investment in consolidated subsidiaries | 5,312.60 | 5,379.50 | ' | 5,843 | ' | ' |
Total assets | 32,007.30 | 31,796.90 | ' | 32,625 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' |
Current Intercompany notes payable | 12.5 | ' | ' | 35.8 | ' | ' |
Total current liabilities | 5,675.10 | 5,914.30 | ' | 6,826.50 | ' | ' |
Long-term intercompany notes payable | 3,413 | 3,315.60 | ' | 3,196.80 | ' | ' |
Total liabilities | 10,697.90 | 10,945.50 | ' | 11,869.90 | ' | ' |
First Data Corporation stockholder's (deficit) equity | 21,309.40 | 20,851.40 | ' | 20,755.10 | ' | ' |
Total equity | 21,309.40 | 20,851.40 | ' | 20,755.10 | ' | ' |
Total liabilities and equity | 32,007.30 | 31,796.90 | ' | 32,625 | ' | ' |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' |
Current Intercompany notes receivable | 22.6 | 30.8 | ' | 86.1 | ' | ' |
Total current assets | 5,574.30 | 5,449.50 | ' | 5,886.70 | ' | ' |
Goodwill | 7,748.10 | 7,797.20 | ' | 7,773.70 | ' | ' |
Long-term intercompany notes receivable | 0.4 | 8.4 | ' | 59 | ' | ' |
Total assets | 17,108.30 | 17,148.80 | ' | 17,846.70 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' |
Total current liabilities | 4,837.30 | 4,793.60 | ' | 5,331.60 | ' | ' |
Long-term intercompany notes payable | 81.9 | 83.4 | ' | 82.5 | ' | ' |
Total liabilities | 5,175.90 | 5,019.50 | ' | 5,582.60 | ' | ' |
First Data Corporation stockholder's (deficit) equity | 5,457.10 | 5,583 | ' | 5,534.40 | ' | ' |
Total equity | 11,864.50 | 12,061.90 | ' | 12,196.70 | ' | ' |
Total liabilities and equity | 17,108.30 | 17,148.80 | ' | 17,846.70 | ' | ' |
Consolidation Adjustments | ' | ' | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' |
Current Intercompany notes receivable | -35.1 | -30.8 | ' | -98.3 | ' | ' |
Total current assets | -35.1 | -30.8 | ' | -98.3 | ' | ' |
Long-term intercompany notes receivable | -3,781.10 | -3,675.70 | ' | -3,539.90 | ' | ' |
Investment in consolidated subsidiaries | -29,978.40 | -29,688.40 | ' | -29,640.40 | ' | ' |
Total assets | -42,468.20 | -41,149.10 | ' | -38,571.50 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' |
Current Intercompany notes payable | -35.2 | -30.8 | ' | -98.3 | ' | ' |
Total current liabilities | -35.2 | -30.8 | ' | -98.3 | ' | ' |
Long-term intercompany payable | -7,633.30 | -6,642.40 | ' | -5,292.90 | ' | ' |
Long-term intercompany notes payable | -3,781 | -3,675.70 | ' | -3,539.90 | ' | ' |
Total liabilities | -12,489.80 | -11,460.70 | ' | -8,931.10 | ' | ' |
First Data Corporation stockholder's (deficit) equity | -26,766.50 | -26,434.40 | ' | -26,289.50 | ' | ' |
Total equity | -29,978.40 | -29,688.40 | ' | -29,640.40 | ' | ' |
Total liabilities and equity | -42,468.20 | -41,149.10 | ' | -38,571.50 | ' | ' |
As previously reported | FDC Parent Company | ' | ' | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' |
Total current assets | ' | ' | ' | 233.2 | ' | ' |
Investment in consolidated subsidiaries | ' | ' | ' | 25,242.70 | ' | ' |
Total assets | ' | ' | ' | 26,579.80 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' |
Total current liabilities | ' | ' | ' | 697.9 | ' | ' |
Long-term intercompany payable | ' | ' | ' | 5,707 | ' | ' |
Long-term intercompany notes payable | ' | ' | ' | -1,887.30 | ' | ' |
Total liabilities | ' | ' | ' | 26,483.20 | ' | ' |
First Data Corporation stockholder's (deficit) equity | ' | ' | ' | 96.6 | ' | ' |
Total equity | ' | ' | ' | 96.6 | ' | ' |
Total liabilities and equity | ' | ' | ' | 26,579.80 | ' | ' |
As previously reported | Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' |
Total current assets | ' | ' | ' | 7,281.70 | ' | ' |
Goodwill | ' | ' | ' | 9,510.50 | ' | ' |
Investment in consolidated subsidiaries | ' | ' | ' | 5,396.20 | ' | ' |
Total assets | ' | ' | ' | 27,676.10 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' |
Total current liabilities | ' | ' | ' | 6,790.70 | ' | ' |
Long-term intercompany payable | ' | ' | ' | -4,618.70 | ' | ' |
Long-term intercompany notes payable | ' | ' | ' | 1,949.90 | ' | ' |
Total liabilities | ' | ' | ' | 5,968.50 | ' | ' |
First Data Corporation stockholder's (deficit) equity | ' | ' | ' | 21,707.50 | ' | ' |
Total equity | ' | ' | ' | 21,707.60 | ' | ' |
Total liabilities and equity | ' | ' | ' | 27,676.10 | ' | ' |
As previously reported | Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' |
Total current assets | ' | ' | ' | 5,800.60 | ' | ' |
Goodwill | ' | ' | ' | 7,694.10 | ' | ' |
Total assets | ' | ' | ' | 16,659.30 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' |
Total current liabilities | ' | ' | ' | 5,331.60 | ' | ' |
Long-term intercompany payable | ' | ' | ' | -1,088.30 | ' | ' |
Long-term intercompany notes payable | ' | ' | ' | -62.6 | ' | ' |
Total liabilities | ' | ' | ' | 4,349.20 | ' | ' |
First Data Corporation stockholder's (deficit) equity | ' | ' | ' | 5,580.50 | ' | ' |
Total equity | ' | ' | ' | 12,242.70 | ' | ' |
Total liabilities and equity | ' | ' | ' | 16,659.30 | ' | ' |
As previously reported | Consolidation Adjustments | ' | ' | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' |
Investment in consolidated subsidiaries | ' | ' | ' | -30,638.90 | ' | ' |
Total assets | ' | ' | ' | -30,638.90 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' |
First Data Corporation stockholder's (deficit) equity | ' | ' | ' | -27,288 | ' | ' |
Total equity | ' | ' | ' | -30,638.90 | ' | ' |
Total liabilities and equity | ' | ' | ' | -30,638.90 | ' | ' |
As corrected | FDC Parent Company | ' | ' | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' |
Current Intercompany notes receivable | ' | ' | ' | 12.2 | ' | ' |
Total current assets | ' | ' | ' | 245.4 | ' | ' |
Long-term intercompany notes receivable | ' | ' | ' | 3,229.40 | ' | ' |
Investment in consolidated subsidiaries | ' | ' | ' | 23,797.40 | ' | ' |
Total assets | ' | ' | ' | 28,376.10 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' |
Current Intercompany notes payable | ' | ' | ' | 62.5 | ' | ' |
Total current liabilities | ' | ' | ' | 760.4 | ' | ' |
Long-term intercompany payable | ' | ' | ' | 5,292.90 | ' | ' |
Long-term intercompany notes payable | ' | ' | ' | 260.6 | ' | ' |
Total liabilities | ' | ' | ' | 28,279.50 | ' | ' |
First Data Corporation stockholder's (deficit) equity | ' | ' | ' | 96.6 | ' | ' |
Total equity | ' | ' | ' | 96.6 | ' | ' |
Total liabilities and equity | ' | ' | ' | 28,376.10 | ' | ' |
As corrected | Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' |
Total current assets | ' | ' | ' | 7,281.70 | ' | ' |
Goodwill | ' | ' | ' | 9,430.90 | ' | ' |
Long-term intercompany receivable | ' | ' | ' | 4,330.20 | ' | ' |
Long-term intercompany notes receivable | ' | ' | ' | 251.5 | ' | ' |
Investment in consolidated subsidiaries | ' | ' | ' | 5,843 | ' | ' |
Total assets | ' | ' | ' | 32,625 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' |
Current Intercompany notes payable | ' | ' | ' | 35.8 | ' | ' |
Total current liabilities | ' | ' | ' | 6,826.50 | ' | ' |
Long-term intercompany notes payable | ' | ' | ' | 3,196.80 | ' | ' |
Total liabilities | ' | ' | ' | 11,869.90 | ' | ' |
First Data Corporation stockholder's (deficit) equity | ' | ' | ' | 20,755.10 | ' | ' |
Total equity | ' | ' | ' | 20,755.10 | ' | ' |
Total liabilities and equity | ' | ' | ' | 32,625 | ' | ' |
As corrected | Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' |
Current Intercompany notes receivable | ' | ' | ' | 86.1 | ' | ' |
Total current assets | ' | ' | ' | 5,886.70 | ' | ' |
Goodwill | ' | ' | ' | 7,773.70 | ' | ' |
Long-term intercompany receivable | ' | ' | ' | 962.7 | ' | ' |
Long-term intercompany notes receivable | ' | ' | ' | 59 | ' | ' |
Total assets | ' | ' | ' | 17,846.70 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' |
Total current liabilities | ' | ' | ' | 5,331.60 | ' | ' |
Long-term intercompany notes payable | ' | ' | ' | 82.5 | ' | ' |
Total liabilities | ' | ' | ' | 5,582.60 | ' | ' |
First Data Corporation stockholder's (deficit) equity | ' | ' | ' | 5,534.40 | ' | ' |
Total equity | ' | ' | ' | 12,196.70 | ' | ' |
Total liabilities and equity | ' | ' | ' | 17,846.70 | ' | ' |
As corrected | Consolidation Adjustments | ' | ' | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' | ' | ' |
Current Intercompany notes receivable | ' | ' | ' | -98.3 | ' | ' |
Total current assets | ' | ' | ' | -98.3 | ' | ' |
Long-term intercompany receivable | ' | ' | ' | -5,292.90 | ' | ' |
Long-term intercompany notes receivable | ' | ' | ' | -3,539.90 | ' | ' |
Investment in consolidated subsidiaries | ' | ' | ' | -29,640.40 | ' | ' |
Total assets | ' | ' | ' | -38,571.50 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' | ' | ' |
Current Intercompany notes payable | ' | ' | ' | -98.3 | ' | ' |
Total current liabilities | ' | ' | ' | -98.3 | ' | ' |
Long-term intercompany payable | ' | ' | ' | -5,292.90 | ' | ' |
Long-term intercompany notes payable | ' | ' | ' | -3,539.90 | ' | ' |
Total liabilities | ' | ' | ' | -8,931.10 | ' | ' |
First Data Corporation stockholder's (deficit) equity | ' | ' | ' | -26,289.50 | ' | ' |
Total equity | ' | ' | ' | -29,640.40 | ' | ' |
Total liabilities and equity | ' | ' | ' | ($38,571.50) | ' | ' |
Supplemental_Guarantor_Condens6
Supplemental Guarantor Condensed Consolidating Financial Statements (Details 5) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ($180.30) | ($124) | ($174.20) | ($115) | ($114.10) | ($13.60) | ($9.80) | ($128.20) | ($184.50) | ($623.90) | ($403.30) | ($527.30) | ($336.10) | ($846.90) |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5.1 | -37.8 | -40.2 | 27.7 | 265.6 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | -14 | -136.9 | -118.5 | 157.5 | -287.4 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 332 | 538.2 | 767.4 | 1,115.60 | 754.7 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -340.2 | -280.8 | -248.5 | -564.5 | -653.3 |
FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -303.8 | -346.1 | -483.9 | -360.3 | -62.4 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | -356.7 | -483.8 | -461.8 | -327 | -564.4 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,353.80 | -1,267.30 | -1,536.60 | -1,254.70 | -1,506.30 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | 991.2 | 1,137.10 | 1,405 | 1,220.50 | 1,564.50 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 986.3 | 1,148.60 | 1,410.50 | 1,147.20 | 1,342.10 |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -173.9 | -194.1 | -265.8 | -209.5 | -207.4 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | 215.1 | 347.2 | 515 | 383.8 | 66.6 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 963.7 | 1,145.20 | 1,561.70 | 1,324.60 | 1,306.50 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | -914 | -1,098.20 | -1,502.20 | -1,116.40 | -1,346.10 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -963.9 | -1,129.30 | -1,544.60 | -1,166.60 | -1,403.10 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | 79.9 | ' | 117.4 | ' | ' | ' | ' | ' | ' | 262.6 | 282.7 | 428.7 | 397.9 | 212.4 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | 5.5 | 7.2 | 11.4 | 8.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | 127.6 | -0.3 | -171.7 | 100.7 | 213.3 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 722.1 | 660.3 | 742.3 | 1,045.70 | 957.5 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | -77.2 | -38.9 | 97.2 | -104.1 | -218.4 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -640.6 | -548.7 | -558 | -949.3 | -1,143.50 |
Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -427.9 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 474.6 | 496.9 | 702.3 | 586.1 | 401.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.9 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 278 | 248.6 | 443.6 | 404.2 | 551.2 |
As previously reported | FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | -212 | ' | ' | ' | ' | ' | ' | ' | -521.9 | ' | -516.1 | -1,021.80 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -405.3 | ' | -546 | -11.6 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -519.1 | ' | -437.4 | -608.4 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,361.80 | ' | -1,550.80 | -1,624.30 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,231.60 | ' | 1,516.60 | 1,682.50 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,243.10 | ' | 1,443.30 | 1,460.10 |
As previously reported | Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | 105.7 | ' | ' | ' | ' | ' | ' | ' | 390.8 | ' | 530.4 | 458.6 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -193.9 | ' | -210.1 | -207.4 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 381.9 | ' | 481.7 | 107 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,238.10 | ' | 1,584.10 | 1,415.10 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,191.10 | ' | -1,375.90 | -1,454.70 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,222.20 | ' | -1,426.10 | -1,511.70 |
As previously reported | Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | 118.1 | ' | ' | ' | ' | ' | ' | ' | 283.7 | ' | 422 | 218.2 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.5 | ' | 11.4 | 8.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | ' | 113.2 | 216.9 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 661.9 | ' | 1,082.30 | 966.9 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -40.5 | ' | -140.7 | -227.8 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -550.3 | ' | -985.9 | -1,152.90 |
As previously reported | Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | -186 | ' | ' | ' | ' | ' | ' | ' | -555.9 | ' | -772.4 | -501.9 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 555.9 | ' | 772.4 | 475.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.9 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 248.6 | ' | 404.2 | 551.2 |
As corrected | FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | -212 | ' | ' | ' | ' | ' | ' | ' | -521.9 | ' | -516.1 | -1,021.80 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -346.1 | ' | -360.3 | -62.4 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -483.8 | ' | -327 | -564.4 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,267.30 | ' | -1,254.70 | -1,506.30 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,137.10 | ' | 1,220.50 | 1,564.50 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,148.60 | ' | 1,147.20 | 1,342.10 |
As corrected | Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | 88.5 | ' | ' | ' | ' | ' | ' | ' | 332.8 | ' | 368.2 | 390.4 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -194.1 | ' | -209.5 | -207.4 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 347.2 | ' | 383.8 | 66.6 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,145.20 | ' | 1,324.60 | 1,306.50 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,098.20 | ' | -1,116.40 | -1,346.10 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,129.30 | ' | -1,166.60 | -1,403.10 |
As corrected | Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | 117.4 | ' | ' | ' | ' | ' | ' | ' | 282.7 | ' | 397.9 | 212.4 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.5 | ' | 11.4 | 8.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.3 | ' | 100.7 | 213.3 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 660.3 | ' | 1,045.70 | 957.5 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -38.9 | ' | -104.1 | -218.4 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -548.7 | ' | -949.3 | -1,143.50 |
As corrected | Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | -168.1 | ' | ' | ' | ' | ' | ' | ' | -496.9 | ' | -586.1 | -427.9 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 496.9 | ' | 586.1 | 401.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.9 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $248.60 | ' | $404.20 | $551.20 |
Supplemental_Guarantor_Condens7
Supplemental Guarantor Condensed Consolidating Financial Statements (Details 6) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||||
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Transaction and processing service fees | $1,620.20 | ' | $1,612.10 | ' | ' | ' | ' | ' | ' | $4,792.50 | $4,787.60 | $6,452.10 | $6,330 | $6,181.50 | |||||||
Product sales and other | 215.5 | [1] | ' | 217.5 | [1] | ' | ' | ' | ' | ' | ' | 622.8 | [1] | 637.9 | [1] | 866.7 | [2] | 852.1 | [2] | 809.3 | [2] |
Reimbursable debit network fees, postage and other | 876.4 | ' | 844.4 | ' | ' | ' | ' | ' | ' | 2,596.50 | 2,498 | 3,361.50 | 3,531.50 | 3,389.60 | |||||||
Total revenues | 2,712.10 | 2,756.80 | 2,674 | 2,685.50 | 2,564 | 2,687.80 | 2,731.80 | 2,749.80 | 2,544.20 | 8,011.80 | 7,923.50 | 10,680.30 | 10,713.60 | 10,380.40 | |||||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Cost of services (exclusive of items shown below) | 708.6 | ' | 729 | ' | ' | ' | ' | ' | ' | 2,119.20 | 2,137.80 | 2,863.50 | 2,888.40 | 3,023.30 | |||||||
Cost of products sold | 80.9 | ' | 80.1 | ' | ' | ' | ' | ' | ' | 246.9 | 251.3 | 336.3 | 369.6 | 375.2 | |||||||
Selling, general and administrative | 463.6 | ' | 467.9 | ' | ' | ' | ' | ' | ' | 1,420.10 | 1,373.30 | 1,825.40 | 1,693.70 | 1,579.70 | |||||||
Reimbursable debit network fees, postage and other | 876.4 | ' | 844.4 | ' | ' | ' | ' | ' | ' | 2,596.50 | 2,498 | 3,361.50 | 3,531.50 | 3,389.60 | |||||||
Depreciation and amortization | 271.3 | ' | 293.5 | ' | ' | ' | ' | ' | ' | 818.2 | 897.1 | 1,191.60 | 1,245 | 1,414.40 | |||||||
Other operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Restructuring, net | 7.8 | ' | 7.2 | ' | ' | ' | ' | ' | ' | 46 | 24.1 | 23.1 | 46.4 | 72 | |||||||
Impairments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.1 | 5.1 | ' | 11.5 | |||||||
Litigation and regulatory settlements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.5 | -2 | |||||||
Total expenses | 2,408.60 | 2,419.80 | 2,422.10 | 2,417.60 | 2,347 | 2,358 | 2,438.60 | 2,537.80 | 2,437.70 | 7,246.90 | 7,186.70 | 9,606.50 | 9,772.10 | 9,863.70 | |||||||
Operating profit | 303.5 | 337 | 251.9 | 267.9 | 217 | 329.8 | 293.2 | 212 | 106.5 | 764.9 | 736.8 | 1,073.80 | 941.5 | 516.7 | |||||||
Interest income | 2.7 | 2.5 | 2.1 | 1.7 | 2.5 | 2.5 | 1.6 | 1.9 | 1.9 | 8 | 6.3 | 8.8 | 7.9 | 7.8 | |||||||
Interest expense | -469 | -467.4 | -488.6 | -480.7 | -461.1 | -461.8 | -466.7 | -462.3 | -442.3 | -1,410.20 | -1,430.40 | -1,897.80 | -1,833.10 | -1,796.60 | |||||||
Other income (expense) | -36.2 | -11.5 | -52 | -22.6 | -8.2 | 56.4 | 95.4 | -1.4 | -26.3 | -20.9 | -82.8 | -94.3 | 124.1 | -15.9 | |||||||
Non-operating income (expense) | -502.5 | ' | -538.5 | ' | ' | ' | ' | ' | ' | -1,423.10 | -1,506.90 | -1,983.30 | -1,701.10 | -1,804.70 | |||||||
Loss before income taxes and equity earnings in affiliates | -199 | -139.4 | -286.6 | -233.7 | -249.8 | -73.1 | -76.5 | -249.8 | -360.2 | -658.2 | -770.1 | -909.5 | -759.6 | -1,288 | |||||||
Income tax (benefit) expense | 28.6 | 28.3 | -69.4 | -74.7 | -108.2 | -15.1 | -18.9 | -88.1 | -148 | 101.7 | -252.3 | -224 | -270.1 | -323.8 | |||||||
Equity earnings in affiliates | 47.3 | 43.7 | 43 | 44 | 27.5 | 44.4 | 47.8 | 33.5 | 27.7 | 136 | 114.5 | 158.2 | 153.4 | 117.3 | |||||||
Net loss | -180.3 | -124 | -174.2 | -115 | -114.1 | -13.6 | -9.8 | -128.2 | -184.5 | -623.9 | -403.3 | -527.3 | -336.1 | -846.9 | |||||||
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interest | 39.2 | 55 | 37.8 | 42.4 | 38.4 | 55.7 | 44.1 | 47.6 | 32.6 | 122.1 | 118.6 | 173.6 | 180 | 174.9 | |||||||
Net loss attributable to First Data Corporation | -219.5 | -179 | -212 | -157.4 | -152.5 | -69.3 | -53.9 | -175.8 | -217.1 | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 | |||||||
Comprehensive (loss) income | -99.5 | ' | -55.1 | ' | ' | ' | ' | ' | ' | -687.7 | -327 | -477.8 | -304.5 | -805.2 | |||||||
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interests | 41.6 | ' | 41.3 | ' | ' | ' | ' | ' | ' | 122.5 | 119.1 | 176.9 | 173.1 | 171.8 | |||||||
Comprehensive loss attributable to First Data Corporation | -141.1 | ' | -96.4 | ' | ' | ' | ' | ' | ' | -810.2 | -446.1 | -654.7 | -477.6 | -977 | |||||||
FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Selling, general and administrative | 27 | ' | 44.7 | ' | ' | ' | ' | ' | ' | 93.7 | 105.6 | 89.4 | 107.8 | 264.7 | |||||||
Depreciation and amortization | 1.8 | ' | 1.9 | ' | ' | ' | ' | ' | ' | 5.5 | 6 | 8.1 | 8.3 | 7.6 | |||||||
Other operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Restructuring, net | 3.2 | ' | ' | ' | ' | ' | ' | ' | ' | 17.1 | -0.2 | -0.2 | -0.6 | 12.7 | |||||||
Litigation and regulatory settlements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.5 | ' | |||||||
Total expenses | 32 | ' | 46.6 | ' | ' | ' | ' | ' | ' | 116.3 | 111.4 | 97.3 | 113 | 285 | |||||||
Operating profit | -32 | ' | -46.6 | ' | ' | ' | ' | ' | ' | -116.3 | -111.4 | -97.3 | -113 | -285 | |||||||
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0.1 | 0.1 | 0.3 | 1 | |||||||
Interest expense | -464.5 | ' | -483.8 | ' | ' | ' | ' | ' | ' | -1,397.20 | -1,416.80 | -1,880.40 | -1,812.90 | -1,775.20 | |||||||
Interest income (expense) from intercompany notes | 79.2 | ' | 78.1 | ' | ' | ' | ' | ' | ' | 236.3 | 234.4 | 313 | 306.7 | 230.3 | |||||||
Other income (expense) | -50.3 | ' | -53.8 | ' | ' | ' | ' | ' | ' | -30.1 | -78.7 | -102.1 | 59 | 2.8 | |||||||
Equity earnings from consolidated subsidiaries | 157.2 | ' | 128.5 | ' | ' | ' | ' | ' | ' | 371.1 | 375.9 | 522.6 | 452.2 | 249.8 | |||||||
Non-operating income (expense) | -278.4 | ' | -331 | ' | ' | ' | ' | ' | ' | -819.8 | -885.1 | -1,146.80 | -994.7 | -1,291.30 | |||||||
Loss before income taxes and equity earnings in affiliates | -310.4 | ' | -377.6 | ' | ' | ' | ' | ' | ' | -936.1 | -996.5 | -1,244.10 | -1,107.70 | -1,576.30 | |||||||
Income tax (benefit) expense | -90.9 | ' | -165.6 | ' | ' | ' | ' | ' | ' | -190.1 | -474.6 | -543.2 | -591.6 | -554.5 | |||||||
Net loss | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 | |||||||
Net loss attributable to First Data Corporation | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 | |||||||
Comprehensive (loss) income | -141.1 | ' | -96.4 | ' | ' | ' | ' | ' | ' | -810.2 | -446.1 | -654.7 | -477.6 | -976.8 | |||||||
Comprehensive loss attributable to First Data Corporation | -141.1 | ' | -96.4 | ' | ' | ' | ' | ' | ' | -810.2 | -446.1 | -654.7 | -477.6 | -976.8 | |||||||
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Transaction and processing service fees | 1,065.40 | ' | 1,051.20 | ' | ' | ' | ' | ' | ' | 3,132.30 | 3,112.50 | 4,180.50 | 4,055.90 | 4,001.70 | |||||||
Product sales and other | 143.3 | ' | 144.6 | ' | ' | ' | ' | ' | ' | 409 | 423.9 | 569.8 | 551.4 | 542.6 | |||||||
Reimbursable debit network fees, postage and other | 631.5 | ' | 610.7 | ' | ' | ' | ' | ' | ' | 1,869.50 | 1,816.20 | 2,430.30 | 2,445 | 2,299.80 | |||||||
Total revenues | 1,840.20 | ' | 1,806.50 | ' | ' | ' | ' | ' | ' | 5,410.80 | 5,352.60 | 7,180.60 | 7,052.30 | 6,844.10 | |||||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Cost of services (exclusive of items shown below) | 461.6 | ' | 494.4 | ' | ' | ' | ' | ' | ' | 1,401.40 | 1,361.10 | 1,829.60 | 1,896.40 | 1,949.60 | |||||||
Cost of products sold | 61.2 | ' | 62.2 | ' | ' | ' | ' | ' | ' | 185 | 192.1 | 252.9 | 274.7 | 257.8 | |||||||
Selling, general and administrative | 302.2 | ' | 293.5 | ' | ' | ' | ' | ' | ' | 923.4 | 877.2 | 1,217.30 | 1,095.40 | 877.2 | |||||||
Reimbursable debit network fees, postage and other | 631.5 | ' | 610.7 | ' | ' | ' | ' | ' | ' | 1,869.50 | 1,816.20 | 2,430.30 | 2,445 | 2,299.80 | |||||||
Depreciation and amortization | 162.9 | ' | 175.3 | ' | ' | ' | ' | ' | ' | 490.5 | 541.4 | 718.9 | 743.1 | 937.9 | |||||||
Other operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Restructuring, net | 4.8 | ' | 5.7 | ' | ' | ' | ' | ' | ' | 24.8 | 7.3 | 7.6 | 23.1 | 46 | |||||||
Impairments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.1 | 5.1 | ' | 7.8 | |||||||
Litigation and regulatory settlements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | |||||||
Total expenses | 1,624.20 | ' | 1,641.80 | ' | ' | ' | ' | ' | ' | 4,894.60 | 4,800.40 | 6,461.70 | 6,477.70 | 6,374.10 | |||||||
Operating profit | 216 | ' | 164.7 | ' | ' | ' | ' | ' | ' | 516.2 | 552.2 | 718.9 | 574.6 | 470 | |||||||
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0.3 | 0.3 | 0.6 | 1.1 | |||||||
Interest expense | -3 | ' | -2.3 | ' | ' | ' | ' | ' | ' | -7.6 | -5.7 | -7.3 | -7.6 | -6.4 | |||||||
Interest income (expense) from intercompany notes | -77.5 | ' | -80 | ' | ' | ' | ' | ' | ' | -233.4 | -240 | -320 | -311.9 | -249.7 | |||||||
Other income (expense) | 2.3 | ' | -8.7 | ' | ' | ' | ' | ' | ' | 4.9 | -8.5 | -8.1 | 68.4 | 31.8 | |||||||
Equity earnings from consolidated subsidiaries | 30.4 | ' | 39.6 | ' | ' | ' | ' | ' | ' | 103.5 | 121 | 179.7 | 133.9 | 150.2 | |||||||
Non-operating income (expense) | -47.8 | ' | -51.4 | ' | ' | ' | ' | ' | ' | -132.5 | -132.9 | -155.4 | -116.6 | -73 | |||||||
Loss before income taxes and equity earnings in affiliates | 168.2 | ' | 113.3 | ' | ' | ' | ' | ' | ' | 383.7 | 419.3 | 563.5 | 458 | 397 | |||||||
Income tax (benefit) expense | 68.6 | ' | 67.5 | ' | ' | ' | ' | ' | ' | 185 | 199.8 | 273.7 | 243.4 | 124.3 | |||||||
Equity earnings in affiliates | 47.3 | ' | 42.7 | ' | ' | ' | ' | ' | ' | 135.4 | 113.3 | 157.4 | 153.6 | 117.7 | |||||||
Net loss | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 | |||||||
Net loss attributable to First Data Corporation | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 | |||||||
Comprehensive (loss) income | 136.3 | ' | 109.9 | ' | ' | ' | ' | ' | ' | 285.2 | 348 | 448.6 | 418.2 | 399.5 | |||||||
Comprehensive loss attributable to First Data Corporation | 136.3 | ' | 109.9 | ' | ' | ' | ' | ' | ' | 285.2 | 348 | 448.6 | 418.2 | 399.5 | |||||||
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Transaction and processing service fees | 610.1 | ' | 608.8 | ' | ' | ' | ' | ' | ' | 1,826.60 | 1,818.30 | 2,471.80 | 2,437.10 | 2,328.30 | |||||||
Product sales and other | 87.7 | ' | 88.2 | ' | ' | ' | ' | ' | ' | 259 | 258.5 | 355.8 | 358.2 | 319.3 | |||||||
Reimbursable debit network fees, postage and other | 244.9 | ' | 234.9 | ' | ' | ' | ' | ' | ' | 727 | 704.4 | 953.8 | 1,159.10 | 1,160.30 | |||||||
Total revenues | 942.7 | ' | 931.9 | ' | ' | ' | ' | ' | ' | 2,812.60 | 2,781.20 | 3,781.40 | 3,954.40 | 3,807.90 | |||||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Cost of services (exclusive of items shown below) | 302.3 | ' | 282.5 | ' | ' | ' | ' | ' | ' | 884.2 | 919.9 | 1,234.10 | 1,155 | 1,222.20 | |||||||
Cost of products sold | 35.2 | ' | 33.2 | ' | ' | ' | ' | ' | ' | 107.1 | 103.7 | 142.3 | 152.4 | 170 | |||||||
Selling, general and administrative | 134.4 | ' | 129.7 | ' | ' | ' | ' | ' | ' | 403 | 390.5 | 518.7 | 490.5 | 437.8 | |||||||
Reimbursable debit network fees, postage and other | 244.9 | ' | 234.9 | ' | ' | ' | ' | ' | ' | 727 | 704.4 | 953.8 | 1,159.10 | 1,160.30 | |||||||
Depreciation and amortization | 106.6 | ' | 116.3 | ' | ' | ' | ' | ' | ' | 322.2 | 349.7 | 464.6 | 493.6 | 468.9 | |||||||
Other operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Restructuring, net | -0.2 | ' | 1.5 | ' | ' | ' | ' | ' | ' | 4.1 | 17 | 15.7 | 23.9 | 13.3 | |||||||
Impairments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.7 | |||||||
Total expenses | 823.2 | ' | 798.1 | ' | ' | ' | ' | ' | ' | 2,447.60 | 2,485.20 | 3,329.20 | 3,474.50 | 3,476.20 | |||||||
Operating profit | 119.5 | ' | 133.8 | ' | ' | ' | ' | ' | ' | 365 | 296 | 452.2 | 479.9 | 331.7 | |||||||
Interest income | 2.7 | ' | 2.1 | ' | ' | ' | ' | ' | ' | 7.8 | 5.9 | 8.4 | 7 | 5.7 | |||||||
Interest expense | -1.5 | ' | -2.5 | ' | ' | ' | ' | ' | ' | -5.4 | -7.9 | -10.1 | -12.6 | -15 | |||||||
Interest income (expense) from intercompany notes | -1.7 | ' | 1.9 | ' | ' | ' | ' | ' | ' | -2.9 | 5.6 | 7 | 5.2 | 19.4 | |||||||
Other income (expense) | 11.8 | ' | 10.5 | ' | ' | ' | ' | ' | ' | 4.3 | 4.4 | 15.9 | -3.3 | -24.5 | |||||||
Non-operating income (expense) | 11.3 | ' | 12 | ' | ' | ' | ' | ' | ' | 3.8 | 8 | 21.2 | -3.7 | -14.4 | |||||||
Loss before income taxes and equity earnings in affiliates | 130.8 | ' | 145.8 | ' | ' | ' | ' | ' | ' | 368.8 | 304 | 473.4 | 476.2 | 317.3 | |||||||
Income tax (benefit) expense | 50.9 | ' | 28.7 | ' | ' | ' | ' | ' | ' | 106.8 | 22.5 | 45.5 | 78.1 | 106.4 | |||||||
Equity earnings in affiliates | ' | ' | 0.3 | ' | ' | ' | ' | ' | ' | 0.6 | 1.2 | 0.8 | -0.2 | 1.5 | |||||||
Net loss | 79.9 | ' | 117.4 | ' | ' | ' | ' | ' | ' | 262.6 | 282.7 | 428.7 | 397.9 | 212.4 | |||||||
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interest | 14.2 | ' | 14.9 | ' | ' | ' | ' | ' | ' | 39.3 | 43.9 | 61.9 | 59.6 | 49.1 | |||||||
Net loss attributable to First Data Corporation | 65.7 | ' | 102.5 | ' | ' | ' | ' | ' | ' | 223.3 | 238.8 | 366.8 | 338.3 | 163.3 | |||||||
Comprehensive (loss) income | 180.6 | ' | 209 | ' | ' | ' | ' | ' | ' | 200.2 | 279.6 | 421.5 | 319 | 207.2 | |||||||
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interests | 16.6 | ' | 18.4 | ' | ' | ' | ' | ' | ' | 39.7 | 44.4 | 65.2 | 52.7 | 46 | |||||||
Comprehensive loss attributable to First Data Corporation | 164 | ' | 190.6 | ' | ' | ' | ' | ' | ' | 160.5 | 235.2 | 356.3 | 266.3 | 161.2 | |||||||
Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Transaction and processing service fees | -55.3 | ' | -47.9 | ' | ' | ' | ' | ' | ' | -166.4 | -143.2 | -200.2 | -163 | -148.5 | |||||||
Product sales and other | -15.5 | ' | -15.3 | ' | ' | ' | ' | ' | ' | -45.2 | -44.5 | -58.9 | -57.5 | -52.6 | |||||||
Reimbursable debit network fees, postage and other | ' | ' | -1.2 | ' | ' | ' | ' | ' | ' | ' | -22.6 | -22.6 | -72.6 | -70.5 | |||||||
Total revenues | -70.8 | ' | -64.4 | ' | ' | ' | ' | ' | ' | -211.6 | -210.3 | -281.7 | -293.1 | -271.6 | |||||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Cost of services (exclusive of items shown below) | -55.3 | ' | -47.9 | ' | ' | ' | ' | ' | ' | -166.4 | -143.2 | -200.2 | -163 | -148.5 | |||||||
Cost of products sold | -15.5 | ' | -15.3 | ' | ' | ' | ' | ' | ' | -45.2 | -44.5 | -58.9 | -57.5 | -52.6 | |||||||
Reimbursable debit network fees, postage and other | ' | ' | -1.2 | ' | ' | ' | ' | ' | ' | ' | -22.6 | -22.6 | -72.6 | -70.5 | |||||||
Other operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Total expenses | -70.8 | ' | -64.4 | ' | ' | ' | ' | ' | ' | -211.6 | -210.3 | -281.7 | -293.1 | -271.6 | |||||||
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -26 | |||||||
Equity earnings from consolidated subsidiaries | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -400 | |||||||
Non-operating income (expense) | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -426 | |||||||
Loss before income taxes and equity earnings in affiliates | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -426 | |||||||
Equity earnings in affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1.9 | |||||||
Net loss | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -427.9 | |||||||
Less: Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interest | 25 | ' | 22.9 | ' | ' | ' | ' | ' | ' | 82.8 | 74.7 | 111.7 | 120.4 | 125.8 | |||||||
Net loss attributable to First Data Corporation | -212.6 | ' | -191 | ' | ' | ' | ' | ' | ' | -557.4 | -571.6 | -814 | -706.5 | -553.7 | |||||||
Comprehensive (loss) income | -275.3 | ' | -277.6 | ' | ' | ' | ' | ' | ' | -362.9 | -508.5 | -693.2 | -564.1 | -435.1 | |||||||
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interests | 25 | ' | 22.9 | ' | ' | ' | ' | ' | ' | 82.8 | 74.7 | 111.7 | 120.4 | 125.8 | |||||||
Comprehensive loss attributable to First Data Corporation | ($300.30) | ' | ($300.50) | ' | ' | ' | ' | ' | ' | ($445.70) | ($583.20) | ($804.90) | ($684.50) | ($560.90) | |||||||
[1] | Includes processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method of $40.3 million and $122.0 million for the three and nine months ended September 30, 2013, respectively, and $40.7 million and $119.4 million for the comparable periods in 2012. | ||||||||||||||||||||
[2] | Includes processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method of $159.8 million, $146.0 million and $134.6 million for the years ended December 31, 2012, 2011 and 2010, respectively. |
Supplemental_Guarantor_Condens8
Supplemental Guarantor Condensed Consolidating Financial Statements (Details 7) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 |
In Millions, unless otherwise specified | ||||||
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $358.60 | $608.30 | $470.20 | $485.70 | $509.50 | $737 |
Accounts receivable, net of allowance for doubtful accounts | 1,632.30 | 1,847.70 | ' | 1,848.60 | ' | ' |
Settlement assets | 9,181.70 | 9,173.80 | ' | 10,658.30 | ' | ' |
Other current assets | 351.7 | 253.6 | ' | 322.9 | ' | ' |
Total current assets | 11,524.30 | 11,883.40 | ' | 13,315.50 | ' | ' |
Property and equipment, net of accumulated depreciation | 866.9 | 855.8 | ' | 935.9 | ' | ' |
Goodwill | 17,232 | 17,282.50 | ' | 17,204.60 | 17,296.90 | ' |
Customer relationships, net of accumulated amortization | 3,322.60 | 3,756.30 | ' | 4,425.40 | ' | ' |
Other intangibles, net of accumulated amortization | 1,726.90 | 1,828.60 | ' | 1,879.20 | ' | ' |
Investment in affiliates | 1,338.70 | 1,413.10 | ' | 1,490.60 | 1,208.20 | ' |
Long-term settlement assets | 18.6 | 54.3 | ' | 181 | ' | ' |
Other long-term assets | 813.7 | 825 | ' | 844.1 | ' | ' |
Total assets | 36,843.70 | 37,899 | ' | 40,276.30 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Accounts payable | 254.6 | 260.9 | ' | 205.9 | ' | ' |
Short-term and current portion of long-term borrowings | 248.3 | 257.1 | ' | 133.4 | ' | ' |
Settlement obligations | 9,197.60 | 9,226.30 | ' | 10,837.80 | ' | ' |
Other current liabilities | 1,371.10 | 1,600.60 | ' | 1,643.10 | ' | ' |
Total current liabilities | 11,071.60 | 11,344.90 | ' | 12,820.20 | ' | ' |
Long-term borrowings | 22,565.10 | 22,528.90 | ' | 22,521.70 | ' | ' |
Long-term deferred tax (assets) liabilities | 553.1 | 509.5 | ' | 695.4 | ' | ' |
Other long-term liabilities | 786.1 | 821.9 | ' | 763.6 | ' | ' |
Total liabilities | 34,975.90 | 35,205.20 | ' | 36,800.90 | ' | ' |
Redeemable noncontrolling interest | 67.9 | 67.4 | 66.6 | 67.4 | 28.1 | ' |
First Data Corporation stockholder's equity | -1,395.60 | -598.5 | ' | 96.6 | ' | ' |
Noncontrolling interests | 3,195.50 | 3,224.90 | ' | 3,311.40 | ' | ' |
Total equity | 1,799.90 | 2,626.40 | 2,841.80 | 3,408 | 4,059.90 | 5,100.10 |
Total liabilities and equity | 36,843.70 | 37,899 | ' | 40,276.30 | ' | ' |
FDC Parent Company | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 6.8 | 228 | 130 | 162.2 | 164.1 | 104.6 |
Accounts receivable, net of allowance for doubtful accounts | 6.3 | 4.4 | ' | 25.3 | ' | ' |
Intercompany notes receivable | 12.5 | ' | ' | 12.2 | ' | ' |
Other current assets | 71 | 73 | ' | 45.7 | ' | ' |
Total current assets | 96.6 | 305.4 | ' | 245.4 | ' | ' |
Property and equipment, net of accumulated depreciation | 28.4 | 30.7 | ' | 31.4 | ' | ' |
Other intangibles, net of accumulated amortization | 604.5 | 605 | ' | 606.8 | ' | ' |
Long-term intercompany notes receivable | 3,496.60 | 3,397.30 | ' | 3,229.40 | ' | ' |
Other long-term assets | 373.5 | 427.1 | ' | 465.7 | ' | ' |
Investment in consolidated subsidiaries | 24,665.80 | 24,308.90 | ' | 23,797.40 | ' | ' |
Total assets | 30,196.30 | 30,102.40 | ' | 28,376.10 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Accounts payable | 5.2 | 13.8 | ' | 7.1 | ' | ' |
Short-term and current portion of long-term borrowings | 95.5 | 15.1 | ' | 0.3 | ' | ' |
Intercompany notes payable | 22.7 | 30.8 | ' | 62.5 | ' | ' |
Other current liabilities | 471 | 608.1 | ' | 690.5 | ' | ' |
Total current liabilities | 594.4 | 667.8 | ' | 760.4 | ' | ' |
Long-term borrowings | 22,460.90 | 22,462.30 | ' | 22,422.40 | ' | ' |
Long-term deferred tax (assets) liabilities | ' | -1,079.70 | ' | -1,091.60 | ' | ' |
Long-term intercompany payables | 7,633.30 | 6,642.40 | ' | 5,292.90 | ' | ' |
Long-term intercompany notes payable | 286.1 | 276.7 | ' | 260.6 | ' | ' |
Other long-term liabilities | 617.2 | 651.7 | ' | 634.8 | ' | ' |
Total liabilities | 31,591.90 | 30,700.90 | ' | 28,279.50 | ' | ' |
First Data Corporation stockholder's equity | -1,395.60 | -598.5 | ' | 96.6 | ' | ' |
Total equity | -1,395.60 | -598.5 | ' | 96.6 | ' | ' |
Total liabilities and equity | 30,196.30 | 30,102.40 | ' | 28,376.10 | ' | ' |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 32.2 | 37.2 | 20.6 | 37.1 | 21.1 | 25.4 |
Accounts receivable, net of allowance for doubtful accounts | 792.4 | 879.7 | ' | 939.4 | ' | ' |
Settlement assets | 4,858 | 5,097.10 | ' | 6,093.20 | ' | ' |
Other current assets | 205.9 | 145.3 | ' | 212 | ' | ' |
Total current assets | 5,888.50 | 6,159.30 | ' | 7,281.70 | ' | ' |
Property and equipment, net of accumulated depreciation | 592.8 | 561.4 | ' | 623.5 | ' | ' |
Goodwill | 9,483.90 | 9,485.30 | ' | 9,430.90 | ' | ' |
Customer relationships, net of accumulated amortization | 1,838.60 | 2,071.70 | ' | 2,468.40 | ' | ' |
Other intangibles, net of accumulated amortization | 556.2 | 619.7 | ' | 638.7 | ' | ' |
Investment in affiliates | 1,308.50 | 1,375.20 | ' | 1,452.80 | ' | ' |
Long-term intercompany receivables | 6,336.90 | 5,501.30 | ' | 4,330.20 | ' | ' |
Long-term intercompany notes receivable | 284.1 | 270 | ' | 251.5 | ' | ' |
Other long-term assets | 405.2 | 373.5 | ' | 304.3 | ' | ' |
Investment in consolidated subsidiaries | 5,312.60 | 5,379.50 | ' | 5,843 | ' | ' |
Total assets | 32,007.30 | 31,796.90 | ' | 32,625 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Accounts payable | 171.1 | 141.8 | ' | 113.4 | ' | ' |
Short-term and current portion of long-term borrowings | 65.7 | 55.1 | ' | 39.6 | ' | ' |
Settlement obligations | 4,858 | 5,097.10 | ' | 6,093.20 | ' | ' |
Intercompany notes payable | 12.5 | ' | ' | 35.8 | ' | ' |
Other current liabilities | 567.8 | 620.3 | ' | 544.5 | ' | ' |
Total current liabilities | 5,675.10 | 5,914.30 | ' | 6,826.50 | ' | ' |
Long-term borrowings | 91.7 | 47.8 | ' | 69 | ' | ' |
Long-term deferred tax (assets) liabilities | 1,291.50 | 1,445.10 | ' | 1,677.50 | ' | ' |
Long-term intercompany notes payable | 3,413 | 3,315.60 | ' | 3,196.80 | ' | ' |
Other long-term liabilities | 226.6 | 222.7 | ' | 100.1 | ' | ' |
Total liabilities | 10,697.90 | 10,945.50 | ' | 11,869.90 | ' | ' |
First Data Corporation stockholder's equity | 21,309.40 | 20,851.40 | ' | 20,755.10 | ' | ' |
Total equity | 21,309.40 | 20,851.40 | ' | 20,755.10 | ' | ' |
Total liabilities and equity | 32,007.30 | 31,796.90 | ' | 32,625 | ' | ' |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 319.6 | 343.1 | 319.6 | 286.4 | 324.3 | 607 |
Accounts receivable, net of allowance for doubtful accounts | 833.6 | 963.6 | ' | 883.9 | ' | ' |
Settlement assets | 4,323.70 | 4,076.70 | ' | 4,565.10 | ' | ' |
Intercompany notes receivable | 22.6 | 30.8 | ' | 86.1 | ' | ' |
Other current assets | 74.8 | 35.3 | ' | 65.2 | ' | ' |
Total current assets | 5,574.30 | 5,449.50 | ' | 5,886.70 | ' | ' |
Property and equipment, net of accumulated depreciation | 245.7 | 263.7 | ' | 281 | ' | ' |
Goodwill | 7,748.10 | 7,797.20 | ' | 7,773.70 | ' | ' |
Customer relationships, net of accumulated amortization | 1,484 | 1,684.60 | ' | 1,957 | ' | ' |
Other intangibles, net of accumulated amortization | 566.2 | 603.9 | ' | 633.7 | ' | ' |
Investment in affiliates | 30.2 | 37.9 | ' | 37.8 | ' | ' |
Long-term settlement assets | 18.6 | 54.3 | ' | 181 | ' | ' |
Long-term intercompany receivables | 1,296.40 | 1,141.10 | ' | 962.7 | ' | ' |
Long-term intercompany notes receivable | 0.4 | 8.4 | ' | 59 | ' | ' |
Other long-term assets | 144.4 | 108.2 | ' | 74.1 | ' | ' |
Total assets | 17,108.30 | 17,148.80 | ' | 17,846.70 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Accounts payable | 78.3 | 105.3 | ' | 85.4 | ' | ' |
Short-term and current portion of long-term borrowings | 87.1 | 186.9 | ' | 93.5 | ' | ' |
Settlement obligations | 4,339.60 | 4,129.20 | ' | 4,744.60 | ' | ' |
Other current liabilities | 332.3 | 372.2 | ' | 408.1 | ' | ' |
Total current liabilities | 4,837.30 | 4,793.60 | ' | 5,331.60 | ' | ' |
Long-term borrowings | 12.5 | 18.8 | ' | 30.3 | ' | ' |
Long-term deferred tax (assets) liabilities | 192.5 | 92.4 | ' | 109.5 | ' | ' |
Long-term intercompany notes payable | 81.9 | 83.4 | ' | 82.5 | ' | ' |
Other long-term liabilities | 51.7 | 31.3 | ' | 28.7 | ' | ' |
Total liabilities | 5,175.90 | 5,019.50 | ' | 5,582.60 | ' | ' |
Redeemable equity interests | 67.9 | 67.4 | ' | 67.4 | ' | ' |
First Data Corporation stockholder's equity | 5,457.10 | 5,583 | ' | 5,534.40 | ' | ' |
Noncontrolling interests | 84.2 | 70.5 | ' | 60.8 | ' | ' |
Equity of consolidated alliance | 6,323.20 | 6,408.40 | ' | 6,601.50 | ' | ' |
Total equity | 11,864.50 | 12,061.90 | ' | 12,196.70 | ' | ' |
Total liabilities and equity | 17,108.30 | 17,148.80 | ' | 17,846.70 | ' | ' |
Consolidation Adjustments | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Intercompany notes receivable | -35.1 | -30.8 | ' | -98.3 | ' | ' |
Total current assets | -35.1 | -30.8 | ' | -98.3 | ' | ' |
Long-term intercompany receivables | -7,633.30 | -6,642.40 | ' | -5,292.90 | ' | ' |
Long-term intercompany notes receivable | -3,781.10 | -3,675.70 | ' | -3,539.90 | ' | ' |
Other long-term assets | -109.4 | -83.8 | ' | ' | ' | ' |
Investment in consolidated subsidiaries | -29,978.40 | -29,688.40 | ' | -29,640.40 | ' | ' |
Total assets | -42,468.20 | -41,149.10 | ' | -38,571.50 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Intercompany notes payable | -35.2 | -30.8 | ' | -98.3 | ' | ' |
Total current liabilities | -35.2 | -30.8 | ' | -98.3 | ' | ' |
Long-term deferred tax (assets) liabilities | -930.9 | -1,028 | ' | ' | ' | ' |
Long-term intercompany payables | -7,633.30 | -6,642.40 | ' | -5,292.90 | ' | ' |
Long-term intercompany notes payable | -3,781 | -3,675.70 | ' | -3,539.90 | ' | ' |
Other long-term liabilities | -109.4 | -83.8 | ' | ' | ' | ' |
Total liabilities | -12,489.80 | -11,460.70 | ' | -8,931.10 | ' | ' |
Redeemable equity interests | -67.9 | -67.4 | ' | -67.4 | ' | ' |
Redeemable noncontrolling interest | 67.9 | 67.4 | ' | 67.4 | ' | ' |
First Data Corporation stockholder's equity | -26,766.50 | -26,434.40 | ' | -26,289.50 | ' | ' |
Noncontrolling interests | 3,111.30 | 3,154.40 | ' | 3,250.60 | ' | ' |
Equity of consolidated alliance | -6,323.20 | -6,408.40 | ' | -6,601.50 | ' | ' |
Total equity | -29,978.40 | -29,688.40 | ' | -29,640.40 | ' | ' |
Total liabilities and equity | ($42,468.20) | ($41,149.10) | ' | ($38,571.50) | ' | ' |
Supplemental_Guarantor_Condens9
Supplemental Guarantor Condensed Consolidating Financial Statements (Details 8) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | ($180.30) | ($124) | ($174.20) | ($115) | ($114.10) | ($13.60) | ($9.80) | ($128.20) | ($184.50) | ($623.90) | ($403.30) | ($527.30) | ($336.10) | ($846.90) |
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) | 301.4 | ' | 326.9 | ' | ' | ' | ' | ' | ' | 908.1 | 1,004.10 | 1,330.90 | 1,344.20 | 1,526 |
Charges (gains) related to other operating expenses and other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66.9 | 112.1 | 122.5 | -77.7 | 97.4 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5.1 | -37.8 | -40.2 | 27.7 | 265.6 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | -14 | -136.9 | -118.5 | 157.5 | -287.4 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 332 | 538.2 | 767.4 | 1,115.60 | 754.7 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current year acquisitions, net of cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1.9 | -32.9 | -19.2 | -1.8 |
Contributions to equity method investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.9 | -7.9 | -161.5 | -1.4 |
Payments related to other businesses previously acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | -3.2 | -4.4 | 3.2 | -1.4 |
Proceeds from dispositions, net of expenses paid and cash disposed | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14.5 | ' | ' | 1.7 | 21.2 |
Proceeds from sale of property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.2 | 7.8 | 8 | 17.1 | 5.5 |
Additions to property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -132.3 | -136.3 | -193.1 | -202.9 | -210.1 |
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | -128 | -141.2 | -177.2 | -201.9 | -159.6 |
Other investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.2 | 7.3 | 10.4 | 4.9 | 18.4 |
Net cash used in investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -234.2 | -275.4 | -397.1 | -558.6 | -329.2 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term borrowings, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3.1 | -22 | 99.1 | -107.3 | 75.1 |
Accrued interest funded upon issuance of notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6.5 | 6.5 | 6.5 | ' | ' |
Debt modification (payments) proceeds and related financing costs, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -49 | 10.8 | 10.8 | -39.7 | -61.2 |
Principal payments on long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -72.4 | -60.2 | -83.3 | -104.5 | -220.4 |
Proceeds from sale-leaseback transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.8 | 13.8 | 14.2 | ' |
Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | -156.5 | -199 | -261.9 | -327.3 | -216.1 |
Contributions from noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.8 | ' |
Purchase of noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | -23.7 | -25.1 | -25.1 | ' | -213.3 |
Redemption of Parent's redeemable common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.5 | -0.5 | -1.7 | -0.5 | -2.5 |
Cash dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | -21.5 | -5.1 | -6.7 | -0.2 | -14.9 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -340.2 | -280.8 | -248.5 | -564.5 | -653.3 |
Effect of exchange rate changes on cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.3 | 2.5 | 0.8 | -16.3 | 0.3 |
Change in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | -249.7 | -15.5 | 122.6 | -23.8 | -227.5 |
Cash and cash equivalents at beginning of period | ' | 470.2 | ' | ' | 485.7 | ' | ' | ' | 509.5 | 608.3 | 485.7 | 485.7 | 509.5 | 737 |
Cash and cash equivalents at end of period | 358.6 | 608.3 | 470.2 | ' | ' | 485.7 | ' | ' | ' | 358.6 | 470.2 | 608.3 | 485.7 | 509.5 |
FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
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) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.5 | 6 | 8.1 | 8.3 | 7.6 |
Charges (gains) related to other operating expenses and other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47.2 | 78.5 | 101.9 | -59.6 | 9.9 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -303.8 | -346.1 | -483.9 | -360.3 | -62.4 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | -356.7 | -483.8 | -461.8 | -327 | -564.4 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,353.80 | -1,267.30 | -1,536.60 | -1,254.70 | -1,506.30 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current year acquisitions, net of cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -33 | ' | ' |
Additions to property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | -1.7 | -2.6 | -4.6 | -4.2 |
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.4 | -0.7 | -0.8 | -1 | -1.7 |
Distributions and dividends from subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | 146.5 | 87 | ' | 109.7 | 225.8 |
Other investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | 1.9 | 228.3 | 1.5 | 3.8 |
Net cash used in investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 146.3 | 86.5 | 191.9 | 105.6 | 223.7 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term borrowings, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95 | ' | ' | ' | ' |
Accrued interest funded upon issuance of notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6.5 | 6.5 | 6.5 | ' | ' |
Debt modification (payments) proceeds and related financing costs, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -49 | 10.8 | 10.8 | -39.7 | -61.2 |
Principal payments on long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15.4 | -0.2 | -3.4 | -32.9 | -143.8 |
Redemption of Parent's redeemable common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.5 | -0.5 | -1.7 | -0.5 | ' |
Redemption of redeemable equity of consolidated alliance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.5 |
Cash dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | -21.5 | -5.1 | -6.7 | -0.2 | -14.9 |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | 991.2 | 1,137.10 | 1,405 | 1,220.50 | 1,564.50 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 986.3 | 1,148.60 | 1,410.50 | 1,147.20 | 1,342.10 |
Change in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | -221.2 | -32.2 | 65.8 | -1.9 | 59.5 |
Cash and cash equivalents at beginning of period | ' | ' | ' | ' | 162.2 | ' | ' | ' | 164.1 | 228 | 162.2 | 162.2 | 164.1 | 104.6 |
Cash and cash equivalents at end of period | 6.8 | 228 | 130 | ' | ' | 162.2 | ' | ' | ' | 6.8 | 130 | 228 | 162.2 | 164.1 |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 |
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) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 568.5 | 638.4 | 844.5 | 827.4 | 1,036.90 |
Charges (gains) related to other operating expenses and other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19.9 | 20.9 | 20.8 | -45.3 | 20 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -173.9 | -194.1 | -265.8 | -209.5 | -207.4 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | 215.1 | 347.2 | 515 | 383.8 | 66.6 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 963.7 | 1,145.20 | 1,561.70 | 1,324.60 | 1,306.50 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current year acquisitions, net of cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1.9 | 0.1 | -19.1 | -1.7 |
Contributions to equity method investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.9 | -7.9 | -161.5 | -1.4 |
Payments related to other businesses previously acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | -3.2 | -4.4 | ' | ' |
Proceeds from dispositions, net of expenses paid and cash disposed | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.8 | ' | 7.1 | ' | ' |
Proceeds from sale of property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.1 | 6.9 | ' | 14.3 | 1.4 |
Additions to property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -63.6 | -67.3 | -88.9 | -101.3 | -113 |
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | -91.4 | -117.1 | -137.8 | -161.6 | -116.9 |
Distributions and dividends from subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | 131.5 | 161.6 | ' | 294.5 | 187.9 |
Other investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 0.5 | 219 | 6.9 | 135.1 |
Net cash used in investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6.4 | -28.4 | -12.8 | -127.8 | 91.4 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal payments on long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -49.9 | -44.9 | -56.2 | -52.7 | -57 |
Proceeds from sale-leaseback transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.8 | 13.8 | 2.5 | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | -914 | -1,098.20 | -1,502.20 | -1,116.40 | -1,346.10 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -963.9 | -1,129.30 | -1,544.60 | -1,166.60 | -1,403.10 |
Effect of exchange rate changes on cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 | -4 | -4.2 | -14.2 | 0.9 |
Change in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5 | -16.5 | 0.1 | 16 | -4.3 |
Cash and cash equivalents at beginning of period | ' | ' | ' | ' | 37.1 | ' | ' | ' | 21.1 | 37.2 | 37.1 | 37.1 | 21.1 | 25.4 |
Cash and cash equivalents at end of period | 32.2 | 37.2 | 20.6 | ' | ' | 37.1 | ' | ' | ' | 32.2 | 20.6 | 37.2 | 37.1 | 21.1 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | 79.9 | ' | 117.4 | ' | ' | ' | ' | ' | ' | 262.6 | 282.7 | 428.7 | 397.9 | 212.4 |
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) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 334.1 | 359.7 | 478.3 | 508.5 | 481.5 |
Charges (gains) related to other operating expenses and other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | 12.7 | -0.2 | 27.2 | 41.5 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | 5.5 | 7.2 | 11.4 | 8.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | 127.6 | -0.3 | -171.7 | 100.7 | 213.3 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 722.1 | 660.3 | 742.3 | 1,045.70 | 957.5 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current year acquisitions, net of cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | -0.1 |
Payments related to other businesses previously acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.2 | -1.4 |
Proceeds from dispositions, net of expenses paid and cash disposed | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.7 | ' | 0.9 | 1.7 | 21.2 |
Proceeds from sale of property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0.9 | ' | 2.8 | 4.1 |
Additions to property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -68.6 | -67.3 | -101.6 | -97 | -92.9 |
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | -36.2 | -23.4 | -38.6 | -39.3 | -41 |
Other investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | 4.9 | 6.7 | -3.5 | 14 |
Net cash used in investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -96.1 | -84.9 | -132.6 | -132.2 | -96.1 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term borrowings, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -98.1 | -22 | 99.1 | -107.3 | 75.1 |
Principal payments on long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.1 | -15.1 | -23.7 | -18.9 | -19.6 |
Proceeds from sale-leaseback transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.7 | ' |
Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | -30.6 | -45.4 | -54 | -44.2 | -31 |
Contributions from noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.8 | ' |
Distributions paid to equity holders | ' | ' | ' | ' | ' | ' | ' | ' | ' | -257.4 | -313.2 | -424 | -577.6 | -368.5 |
Purchase of noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | -23.7 | -25.1 | -25.1 | ' | ' |
Distributions paid to redeemable equity holders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.5 |
Redemption of redeemable equity of consolidated alliance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -347.8 |
Cash dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | -146.5 | -89 | -227.5 | -109.7 | -225.8 |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | -77.2 | -38.9 | 97.2 | -104.1 | -218.4 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -640.6 | -548.7 | -558 | -949.3 | -1,143.50 |
Effect of exchange rate changes on cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | -8.9 | 6.5 | 5 | -2.1 | -0.6 |
Change in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | -23.5 | 33.2 | 56.7 | -37.9 | -282.7 |
Cash and cash equivalents at beginning of period | ' | ' | ' | ' | 286.4 | ' | ' | ' | 324.3 | 343.1 | 286.4 | 286.4 | 324.3 | 607 |
Cash and cash equivalents at end of period | 319.6 | 343.1 | 319.6 | ' | ' | 286.4 | ' | ' | ' | 319.6 | 319.6 | 343.1 | 286.4 | 324.3 |
Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -427.9 |
Adjustments to reconcile to net cash (used in) provided by operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Charges (gains) related to other operating expenses and other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 474.6 | 496.9 | 702.3 | 586.1 | 401.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.9 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions and dividends from subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | -278 | -248.6 | ' | -404.2 | -413.7 |
Other investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -443.6 | ' | -134.5 |
Net cash used in investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -278 | -248.6 | -443.6 | -404.2 | -548.2 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | -125.9 | -153.6 | -207.9 | -283.1 | -185.1 |
Distributions paid to equity holders | ' | ' | ' | ' | ' | ' | ' | ' | ' | 257.4 | 313.2 | 424 | 577.6 | 368.5 |
Purchase of noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -213.3 |
Distributions paid to redeemable equity holders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.5 |
Redemption of redeemable equity of consolidated alliance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 347.8 |
Cash dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | 146.5 | 89 | 227.5 | 109.7 | 225.8 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | $278 | $248.60 | $443.60 | $404.20 | $551.20 |
SCHEDULE_IIValuation_and_Quali
SCHEDULE II-Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||
SCHEDULE II-Valuation and Qualifying Accounts | ' | ||||||||||||||||
SCHEDULE II-Valuation and Qualifying Accounts | ' | ||||||||||||||||
SCHEDULE II—Valuation and Qualifying Accounts | |||||||||||||||||
(dollars, in millions) | |||||||||||||||||
Additions | |||||||||||||||||
Description | Balance at | Charged | Reclassifications | Deductions (b) | Balance at | ||||||||||||
Beginning of | to Costs and | from Other | End of | ||||||||||||||
Period | Expenses | Accounts (a) | Period | ||||||||||||||
Year ended December 31, 2012 deducted from receivables | $ | 28.4 | $ | 83.6 | $ | 8.3 | $ | 74.3 | $ | 46 | |||||||
Year ended December 31, 2011 deducted from receivables | $ | 29.1 | $ | 61.3 | $ | 0 | $ | 62 | $ | 28.4 | |||||||
Year ended December 31, 2010 deducted from receivables | $ | 22.5 | $ | 68.7 | $ | 0 | $ | 62.1 | $ | 29.1 | |||||||
(a) Amounts related to reclassifications from other current liabilities to allowance for doubtful accounts. | |||||||||||||||||
(b) Amounts related to business divestitures and write-offs against assets. | |||||||||||||||||
SCHEDULE_IIValuation_and_Quali1
SCHEDULE II-Valuation and Qualifying Accounts (Details) (Deducted from receivables, USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Deducted from receivables | ' | ' | ' |
Valuation and Qualifying Accounts | ' | ' | ' |
Balance at Beginning of Period | $28.40 | $29.10 | $22.50 |
Additions, Charged to Costs and Expenses | 83.6 | 61.3 | 68.7 |
Additions, Reclassifications from Other Accounts | 8.3 | ' | ' |
Deductions | 74.3 | 62 | 62.1 |
Balance at End of Period | $46 | $28.40 | $29.10 |
CONSOLIDATED_STATEMENTS_OF_OPE2
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||||
Transaction and processing service fees: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Merchant related services | $996.40 | [1] | ' | $977.40 | [1] | ' | ' | ' | ' | ' | ' | $2,963.20 | [1] | $2,885.30 | [1] | $3,896.30 | [2] | $3,692.80 | [2] | $3,521.30 | [2] |
Check services | 70.8 | ' | 77.4 | ' | ' | ' | ' | ' | ' | 214.5 | 233.8 | 313.9 | 338.2 | 378.8 | |||||||
Card services | 423.7 | [1] | ' | 431 | [1] | ' | ' | ' | ' | ' | ' | 1,250.20 | [1] | 1,298.80 | [1] | 1,737.70 | 1,750.60 | 1,735.80 | |||
Other services | 129.3 | ' | 126.3 | ' | ' | ' | ' | ' | ' | 364.6 | 369.7 | 504.2 | 548.4 | 545.6 | |||||||
Product sales and other | 215.5 | [1] | ' | 217.5 | [1] | ' | ' | ' | ' | ' | ' | 622.8 | [1] | 637.9 | [1] | 866.7 | [2] | 852.1 | [2] | 809.3 | [2] |
Reimbursable debit network fees, postage and other | 876.4 | ' | 844.4 | ' | ' | ' | ' | ' | ' | 2,596.50 | 2,498 | 3,361.50 | 3,531.50 | 3,389.60 | |||||||
Total revenues | 2,712.10 | 2,756.80 | 2,674 | 2,685.50 | 2,564 | 2,687.80 | 2,731.80 | 2,749.80 | 2,544.20 | 8,011.80 | 7,923.50 | 10,680.30 | 10,713.60 | 10,380.40 | |||||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Cost of services (exclusive of items shown below) | 708.6 | ' | 729 | ' | ' | ' | ' | ' | ' | 2,119.20 | 2,137.80 | 2,863.50 | 2,888.40 | 3,023.30 | |||||||
Cost of products sold | 80.9 | ' | 80.1 | ' | ' | ' | ' | ' | ' | 246.9 | 251.3 | 336.3 | 369.6 | 375.2 | |||||||
Selling, general and administrative | 463.6 | ' | 467.9 | ' | ' | ' | ' | ' | ' | 1,420.10 | 1,373.30 | 1,825.40 | 1,693.70 | 1,579.70 | |||||||
Reimbursable debit network fees, postage and other | 876.4 | ' | 844.4 | ' | ' | ' | ' | ' | ' | 2,596.50 | 2,498 | 3,361.50 | 3,531.50 | 3,389.60 | |||||||
Depreciation and amortization | 271.3 | ' | 293.5 | ' | ' | ' | ' | ' | ' | 818.2 | 897.1 | 1,191.60 | 1,245 | 1,414.40 | |||||||
Other operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Restructuring, net | 7.8 | ' | 7.2 | ' | ' | ' | ' | ' | ' | 46 | 24.1 | 23.1 | 46.4 | 72 | |||||||
Impairments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.1 | 5.1 | ' | 11.5 | |||||||
Total expenses | 2,408.60 | 2,419.80 | 2,422.10 | 2,417.60 | 2,347 | 2,358 | 2,438.60 | 2,537.80 | 2,437.70 | 7,246.90 | 7,186.70 | 9,606.50 | 9,772.10 | 9,863.70 | |||||||
Operating profit | 303.5 | 337 | 251.9 | 267.9 | 217 | 329.8 | 293.2 | 212 | 106.5 | 764.9 | 736.8 | 1,073.80 | 941.5 | 516.7 | |||||||
Interest income | 2.7 | 2.5 | 2.1 | 1.7 | 2.5 | 2.5 | 1.6 | 1.9 | 1.9 | 8 | 6.3 | 8.8 | 7.9 | 7.8 | |||||||
Interest expense | -469 | -467.4 | -488.6 | -480.7 | -461.1 | -461.8 | -466.7 | -462.3 | -442.3 | -1,410.20 | -1,430.40 | -1,897.80 | -1,833.10 | -1,796.60 | |||||||
Other income (expense) | -36.2 | -11.5 | -52 | -22.6 | -8.2 | 56.4 | 95.4 | -1.4 | -26.3 | -20.9 | -82.8 | -94.3 | 124.1 | -15.9 | |||||||
Non-operating income (expense) | -502.5 | ' | -538.5 | ' | ' | ' | ' | ' | ' | -1,423.10 | -1,506.90 | -1,983.30 | -1,701.10 | -1,804.70 | |||||||
Loss before income taxes and equity earnings in affiliates | -199 | -139.4 | -286.6 | -233.7 | -249.8 | -73.1 | -76.5 | -249.8 | -360.2 | -658.2 | -770.1 | -909.5 | -759.6 | -1,288 | |||||||
Income tax expense (benefit) | 28.6 | 28.3 | -69.4 | -74.7 | -108.2 | -15.1 | -18.9 | -88.1 | -148 | 101.7 | -252.3 | -224 | -270.1 | -323.8 | |||||||
Equity earnings in affiliates | 47.3 | 43.7 | 43 | 44 | 27.5 | 44.4 | 47.8 | 33.5 | 27.7 | 136 | 114.5 | 158.2 | 153.4 | 117.3 | |||||||
Net loss | -180.3 | -124 | -174.2 | -115 | -114.1 | -13.6 | -9.8 | -128.2 | -184.5 | -623.9 | -403.3 | -527.3 | -336.1 | -846.9 | |||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | 39.2 | 55 | 37.8 | 42.4 | 38.4 | 55.7 | 44.1 | 47.6 | 32.6 | 122.1 | 118.6 | 173.6 | 180 | 174.9 | |||||||
Net loss attributable to First Data Corporation | ($219.50) | ($179) | ($212) | ($157.40) | ($152.50) | ($69.30) | ($53.90) | ($175.80) | ($217.10) | ($746) | ($521.90) | ($700.90) | ($516.10) | ($1,021.80) | |||||||
[1] | Includes processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method of $40.3 million and $122.0 million for the three and nine months ended September 30, 2013, respectively, and $40.7 million and $119.4 million for the comparable periods in 2012. | ||||||||||||||||||||
[2] | Includes processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method of $159.8 million, $146.0 million and $134.6 million for the years ended December 31, 2012, 2011 and 2010, respectively. |
CONSOLIDATED_STATEMENTS_OF_OPE3
CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
CONSOLIDATED STATEMENTS OF OPERATIONS | ' | ' | ' | ' | ' | ' | ' |
Processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method | $40.30 | $40.70 | $122 | $119.40 | $159.80 | $146 | $134.60 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | ($180.30) | ($124) | ($174.20) | ($115) | ($114.10) | ($13.60) | ($9.80) | ($128.20) | ($184.50) | ($623.90) | ($403.30) | ($527.30) | ($336.10) | ($846.90) |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized gains (losses) on securities | 0.1 | ' | -0.8 | ' | ' | ' | ' | ' | ' | 1 | -0.2 | 0.2 | 0.8 | 27.5 |
Unrealized gains on hedging activities | ' | ' | 23.8 | ' | ' | ' | ' | ' | ' | ' | 72.1 | 72.2 | 99.6 | 70.3 |
Foreign currency translation adjustment | 79.5 | ' | 96.4 | ' | ' | ' | ' | ' | ' | -68.3 | 3.7 | 15.7 | -44.9 | -84.6 |
Pension liability adjustments | 1.2 | ' | -0.3 | ' | ' | ' | ' | ' | ' | 3.5 | 0.7 | -38.6 | -23.9 | 28.5 |
Total other comprehensive income (loss), net of tax | 80.8 | ' | 119.1 | ' | ' | ' | ' | ' | ' | -63.8 | 76.3 | 49.5 | 31.6 | 41.7 |
Comprehensive loss | -99.5 | ' | -55.1 | ' | ' | ' | ' | ' | ' | -687.7 | -327 | -477.8 | -304.5 | -805.2 |
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | 41.6 | ' | 41.3 | ' | ' | ' | ' | ' | ' | 122.5 | 119.1 | 176.9 | 173.1 | 171.8 |
Comprehensive loss attributable to First Data Corporation | ($141.10) | ' | ($96.40) | ' | ' | ' | ' | ' | ' | ($810.20) | ($446.10) | ($654.70) | ($477.60) | ($977) |
CONSOLIDATED_BALANCE_SHEETS1
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 |
In Millions, unless otherwise specified | ||||||
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $358.60 | $608.30 | $470.20 | $485.70 | $509.50 | $737 |
Accounts receivable, net of allowance for doubtful accounts of $37.9 (2013) and $33.3 (2012) | 1,632.30 | 1,847.70 | ' | 1,848.60 | ' | ' |
Settlement assets | 9,181.70 | 9,173.80 | ' | 10,658.30 | ' | ' |
Other current assets | 351.7 | 253.6 | ' | 322.9 | ' | ' |
Total current assets | 11,524.30 | 11,883.40 | ' | 13,315.50 | ' | ' |
Property and equipment, net of accumulated depreciation of $1,100.4 (2013) and $1,024.3 (2012) | 866.9 | 855.8 | ' | 935.9 | ' | ' |
Goodwill | 17,232 | 17,282.50 | ' | 17,204.60 | 17,296.90 | ' |
Customer relationships, net of accumulated amortization of $4,284.7 (2013) and $3,839.0 (2012) | 3,322.60 | 3,756.30 | ' | 4,425.40 | ' | ' |
Other intangibles, net of accumulated amortization of $1,712.8 (2013) and $1,544.0 (2012) | 1,726.90 | 1,828.60 | ' | 1,879.20 | ' | ' |
Investment in affiliates | 1,338.70 | 1,413.10 | ' | 1,490.60 | 1,208.20 | ' |
Long-term settlement assets | 18.6 | 54.3 | ' | 181 | ' | ' |
Other long-term assets | 813.7 | 825 | ' | 844.1 | ' | ' |
Total assets | 36,843.70 | 37,899 | ' | 40,276.30 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Accounts payable | 254.6 | 260.9 | ' | 205.9 | ' | ' |
Short-term and current portion of long-term borrowings | 248.3 | 257.1 | ' | 133.4 | ' | ' |
Settlement obligations | 9,197.60 | 9,226.30 | ' | 10,837.80 | ' | ' |
Other current liabilities | 1,371.10 | 1,600.60 | ' | 1,643.10 | ' | ' |
Total current liabilities | 11,071.60 | 11,344.90 | ' | 12,820.20 | ' | ' |
Long-term borrowings | 22,565.10 | 22,528.90 | ' | 22,521.70 | ' | ' |
Long-term deferred tax liabilities | 553.1 | 509.5 | ' | 695.4 | ' | ' |
Other long-term liabilities | 786.1 | 821.9 | ' | 763.6 | ' | ' |
Total liabilities | 34,975.90 | 35,205.20 | ' | 36,800.90 | ' | ' |
Commitments and contingencies (See Note 7) | ' | ' | ' | ' | ' | ' |
Redeemable noncontrolling interest | 67.9 | 67.4 | 66.6 | 67.4 | 28.1 | ' |
First Data Corporation stockholder's deficit: | ' | ' | ' | ' | ' | ' |
Common stock, $0.01 par value; authorized and issued 1,000 shares (2013 and 2012) | ' | ' | ' | ' | ' | ' |
Additional paid-in capital | 7,376.10 | 7,341.50 | ' | 7,375.20 | ' | ' |
Paid-in capital | 7,376.10 | 7,341.50 | ' | 7,375.20 | ' | ' |
Accumulated loss | -8,155.30 | -7,387.80 | ' | -6,680.20 | ' | ' |
Accumulated other comprehensive loss | -616.4 | -552.2 | ' | -598.4 | -636.9 | -681.7 |
Total First Data Corporation stockholder's deficit | -1,395.60 | -598.5 | ' | 96.6 | ' | ' |
Noncontrolling interests | 3,195.50 | 3,224.90 | ' | 3,311.40 | ' | ' |
Total equity | 1,799.90 | 2,626.40 | 2,841.80 | 3,408 | 4,059.90 | 5,100.10 |
Total liabilities and equity | $36,843.70 | $37,899 | ' | $40,276.30 | ' | ' |
CONSOLIDATED_BALANCE_SHEETS_Pa1
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, except Share data, unless otherwise specified | |||
CONSOLIDATED BALANCE SHEETS | ' | ' | ' |
Accounts receivable, allowance for doubtful accounts | $37.90 | $33.30 | $18.10 |
Property and equipment, accumulated depreciation | 1,100.40 | 1,024.30 | 842.9 |
Customer relationships, accumulated amortization | 4,284.70 | 3,839 | 3,212.70 |
Other intangibles, accumulated amortization | $1,712.80 | $1,544 | $1,282.20 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 |
Common stock, authorized shares (in shares) | 1,000 | 1,000 | 1,000 |
Common stock, issued shares (in shares) | 1,000 | 1,000 | 1,000 |
CONSOLIDATED_STATEMENTS_OF_CAS1
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' |
Net loss | ($623.90) | ($403.30) | ($527.30) | ($336.10) | ($846.90) |
Adjustments to reconcile to net cash provided by operating activities: | ' | ' | ' | ' | ' |
Depreciation and amortization (including amortization netted against equity earnings in affiliates and revenues) | 908.1 | 1,004.10 | 1,330.90 | 1,344.20 | 1,526 |
Charges related to other operating expenses and other income (expense) | 66.9 | 112.1 | 122.5 | -77.7 | 97.4 |
Other non-cash and non-operating items, net | -5.1 | -37.8 | -40.2 | 27.7 | 265.6 |
Increase (decrease) in cash, excluding the effects of acquisitions and dispositions, resulting from changes in: | ' | ' | ' | ' | ' |
Accounts receivable, current and long-term | 193.5 | 39.9 | -49.8 | 256.7 | 224.7 |
Other assets, current and long-term | 3.8 | 220.6 | 260 | 239.3 | 298.3 |
Accounts payable and other liabilities, current and long-term | -243.8 | -92.7 | -34.6 | -1.2 | -386.1 |
Income tax accounts | 32.5 | -304.7 | -294.1 | -337.3 | -424.3 |
Net cash provided by operating activities | 332 | 538.2 | 767.4 | 1,115.60 | 754.7 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | ' | ' |
Current period acquisitions | ' | -1.9 | -32.9 | -19.2 | -1.8 |
Contributions to equity method investments | ' | -7.9 | -7.9 | -161.5 | -1.4 |
Payments related to other businesses previously acquired | 0.2 | -3.2 | -4.4 | 3.2 | -1.4 |
Proceeds from dispositions, net of expenses paid and cash disposed | 14.5 | ' | ' | 1.7 | 21.2 |
Proceeds from sale of property and equipment | 4.2 | 7.8 | 8 | 17.1 | 5.5 |
Additions to property and equipment | -132.3 | -136.3 | -193.1 | -202.9 | -210.1 |
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | -128 | -141.2 | -177.2 | -201.9 | -159.6 |
Other investing activities | 7.2 | 7.3 | 10.4 | 4.9 | 18.4 |
Net cash used in investing activities | -234.2 | -275.4 | -397.1 | -558.6 | -329.2 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' |
Short-term borrowings, net | -3.1 | -22 | 99.1 | -107.3 | 75.1 |
Accrued interest funded upon issuance of notes | -6.5 | 6.5 | 6.5 | ' | ' |
Debt modification (payments) proceeds and related financing costs, net | -49 | 10.8 | 10.8 | -39.7 | -61.2 |
Principal payments on long-term debt | -72.4 | -60.2 | -83.3 | -104.5 | -220.4 |
Proceeds from sale-leaseback transactions | ' | 13.8 | 13.8 | 14.2 | ' |
Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interest | -156.5 | -199 | -261.9 | -327.3 | -216.1 |
Redemption of Parent's redeemable common stock | -7.5 | -0.5 | -1.7 | -0.5 | -2.5 |
Purchase of noncontrolling interest | -23.7 | -25.1 | -25.1 | ' | -213.3 |
Cash dividends | -21.5 | -5.1 | -6.7 | -0.2 | -14.9 |
Net cash used in financing activities | -340.2 | -280.8 | -248.5 | -564.5 | -653.3 |
Effect of exchange rate changes on cash and cash equivalents | -7.3 | 2.5 | 0.8 | -16.3 | 0.3 |
Change in cash and cash equivalents | -249.7 | -15.5 | 122.6 | -23.8 | -227.5 |
Cash and cash equivalents at beginning of period | 608.3 | 485.7 | 485.7 | 509.5 | 737 |
Cash and cash equivalents at end of period | $358.60 | $470.20 | $608.30 | $485.70 | $509.50 |
CONSOLIDATED_STATEMENTS_OF_EQU2
CONSOLIDATED STATEMENTS OF EQUITY (USD $) | Total | Accumulated Loss | Accumulated Other Comprehensive Income (Loss) | Paid-In Capital | Noncontrolling Interests | |
In Millions, unless otherwise specified | ||||||
Balance at Dec. 31, 2009 | $5,100.10 | ($5,127.30) | ($681.70) | $7,394.30 | $3,514.80 | |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | |
Dividends and distributions paid to noncontrolling interests | -188.5 | ' | ' | ' | -188.5 | |
Net (loss) income | [1] | -881.9 | -1,021.80 | ' | ' | 139.9 |
Other comprehensive (loss) income | 41.7 | ' | 44.8 | ' | -3.1 | |
Adjustment to redemption value of redeemable noncontrolling interest | 7 | ' | ' | 7 | ' | |
Stock compensation expense and other | 15.4 | 0.1 | ' | 15.3 | ' | |
Cash dividends paid by First Data Corporation to Parent | -14.9 | -14.9 | ' | ' | ' | |
Purchase of noncontrolling interest | -5 | ' | ' | -7.5 | 2.5 | |
Balance at Dec. 31, 2010 | 4,059.90 | -6,163.90 | -636.9 | 7,395.10 | 3,465.60 | |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | |
Dividends and distributions paid to noncontrolling interests | -296.1 | ' | ' | ' | -296.1 | |
Net (loss) income | [1] | -368.1 | -516.1 | ' | ' | 148 |
Other comprehensive (loss) income | 31.6 | ' | 38.5 | ' | -6.9 | |
Adjustment to redemption value of redeemable noncontrolling interest | 38.6 | ' | ' | 38.6 | ' | |
Stock compensation expense and other | 18.7 | ' | ' | 18.7 | ' | |
Cash dividends paid by First Data Corporation to Parent | -0.2 | -0.2 | ' | ' | ' | |
Balance at Dec. 31, 2011 | 3,408 | -6,680.20 | -598.4 | 7,375.20 | 3,311.40 | |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | |
Dividends and distributions paid to noncontrolling interests | -171.6 | ' | ' | ' | -171.6 | |
Net (loss) income | [2] | -429.9 | -521.9 | ' | ' | 92 |
Other comprehensive (loss) income | 76.3 | ' | 75.8 | ' | 0.5 | |
Stock compensation expense and other | 11.7 | ' | ' | 11.7 | ' | |
Cash dividends paid by First Data Corporation to Parent | -5.1 | -5.1 | ' | ' | ' | |
Purchase of noncontrolling interest | -47.6 | ' | ' | -46.1 | -1.5 | |
Balance at Sep. 30, 2012 | 2,841.80 | -7,207.20 | -522.6 | 7,340.80 | 3,230.80 | |
Balance at Dec. 31, 2011 | 3,408 | -6,680.20 | -598.4 | 7,375.20 | 3,311.40 | |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | |
Dividends and distributions paid to noncontrolling interests | -225.9 | ' | ' | ' | -225.9 | |
Net (loss) income | [1] | -563.3 | -700.9 | ' | ' | 137.6 |
Other comprehensive (loss) income | 49.5 | ' | 46.2 | ' | 3.3 | |
Stock compensation expense and other | 12.4 | ' | ' | 12.4 | ' | |
Cash dividends paid by First Data Corporation to Parent | -6.7 | -6.7 | ' | ' | ' | |
Purchase of noncontrolling interest | -47.6 | ' | ' | -46.1 | -1.5 | |
Balance at Dec. 31, 2012 | 2,626.40 | -7,387.80 | -552.2 | 7,341.50 | 3,224.90 | |
Increase (Decrease) in Stockholders' Equity | ' | ' | ' | ' | ' | |
Dividends and distributions paid to noncontrolling interests | -130.5 | ' | ' | ' | -130.5 | |
Net (loss) income | [2] | -648.5 | -746 | ' | ' | 97.5 |
Other comprehensive (loss) income | -63.8 | ' | -64.2 | ' | 0.4 | |
Adjustment to redemption value of redeemable noncontrolling interest | -2 | ' | ' | -2 | ' | |
Stock compensation expense and other | 30.8 | ' | ' | 30.8 | ' | |
Cash dividends paid by First Data Corporation to Parent | -21.5 | -21.5 | ' | ' | ' | |
Purchase of noncontrolling interest | 9 | ' | ' | 5.8 | 3.2 | |
Balance at Sep. 30, 2013 | $1,799.90 | ($8,155.30) | ($616.40) | $7,376.10 | $3,195.50 | |
[1] | The total net loss presented in the Consolidated Statements of Equity for the twelve months ended December 31, 2012, 2011 and 2010 is $36.0 million, $32.0 million and $35.0 million, respectively, greater than the amount presented on the Consolidated Statements of Operations due to the net income attributable to the redeemable noncontrolling interests not included in equity. | |||||
[2] | The total net loss presented in the Consolidated Statements of Equity for the nine months ended September 30, 2013 and 2012 is $24.6 million and $26.6 million, respectively, greater than the amount presented on the Consolidated Statements of Operations due to the net income attributable to the redeemable noncontrolling interest not included in equity. |
CONSOLIDATED_STATEMENTS_OF_EQU3
CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
CONSOLIDATED STATEMENTS OF EQUITY | ' | ' | ' | ' | ' |
Net income attributable to the redeemable noncontrolling interest not included in equity | $24.60 | $26.60 | $36 | $32 | $35 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Basis of Presentation | ' | |||||||||||||
Basis of Presentation | ' | |||||||||||||
Note 1: Basis of Presentation | ||||||||||||||
The accompanying Consolidated Financial Statements of First Data Corporation (“FDC” or the “Company”) should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. Significant accounting policies disclosed therein have not changed. | ||||||||||||||
The accompanying Consolidated Financial Statements are unaudited; however, in the opinion of management, they include all normal recurring adjustments necessary for a fair presentation of the consolidated financial position of the Company as of September 30, 2013 and the consolidated results of its operations and comprehensive income (loss) for the three and nine months ended September 30, 2013 and 2012 and the consolidated cash flows and changes in equity for the nine months ended September 30, 2013 and 2012. Results of operations reported for interim periods are not necessarily indicative of results for the entire year due in part to the seasonality of certain business units. | ||||||||||||||
Use of Estimates | ||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results could differ from these estimates. | ||||||||||||||
Presentation | ||||||||||||||
Depreciation and amortization presented as a separate line item on the Company’s Consolidated Statements of Operations does not include amortization of initial payments for new contracts which is recorded as a contra-revenue within “Transaction and processing service fees.” Also not included is amortization related to equity method investments which is netted within the “Equity earnings in affiliates” line. The following table presents the amounts associated with such amortization: | ||||||||||||||
Three months ended | Nine months ended | |||||||||||||
September 30, | September 30, | |||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||
Amortization of initial payments for new contracts | $ | 10.4 | $ | 12 | $ | 30.7 | $ | 33.7 | ||||||
Amortization related to equity method investments | $ | 19.7 | $ | 21.4 | $ | 59.2 | $ | 73.3 | ||||||
Revenue Recognition | ||||||||||||||
The Company recognizes revenues from its processing services as such services are performed. Revenue is recorded net of certain costs such as credit and offline debit interchange fees and assessments charged by credit card associations. Debit network fees related to acquired personal identification number based debit (“PIN-debit”) transactions are recognized in the “Reimbursable debit network fees, postage and other” revenue and expense lines of the Consolidated Statements of Operations. The following table presents the amounts associated with processing services revenue: | ||||||||||||||
Three months ended | Nine months ended | |||||||||||||
September 30, | September 30, | |||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||
Interchange fees and assessments | $ | 4,925.00 | $ | 4,669.40 | $ | 14,319.70 | $ | 13,588.30 | ||||||
Debit network fees | $ | 727.9 | $ | 702 | $ | 2,157.00 | $ | 2,070.90 | ||||||
New Accounting Guidance | ||||||||||||||
In March 2013, the Financial Accounting Standards Board issued guidance that resolves diversity in practice as to when to release the cumulative translation adjustment into net income when a parent ceases to have a controlling interest in a subsidiary within a foreign entity or sells a part or all of its investment in a foreign entity. The guidance also resolves diversity in the accounting for the cumulative translation adjustment in a business combination achieved in stages involving a foreign entity. The Company adopted the guidance as of January 1, 2013. Adoption did not have an impact on the Company’s financial position or results of operations. | ||||||||||||||
Supplemental_Financial_Informa4
Supplemental Financial Information | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
Supplemental Financial Information | ' | ' | |||||||||||||||||||||||
Supplemental Financial Information | ' | ' | |||||||||||||||||||||||
Note 2: Supplemental Financial Information | Note 9: Supplemental Financial Information | ||||||||||||||||||||||||
Supplemental Statement of Operations Information | Supplemental Statements of Operations Information | ||||||||||||||||||||||||
The following table details the components of “Other income (expense)” on the Consolidated Statements of Operations: | The following table details the components of “Other income (expense)” on the Consolidated Statements of Operations: | ||||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | |||||||||||||||||||||||
September 30, | September 30, | (in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Investment (losses) and gains | $ | (7.7 | ) | $ | — | $ | 2.5 | |||||||||||||
Investment (losses) and gains | $ | — | $ | (8.1 | ) | $ | 2.3 | $ | (7.8 | ) | Derivative financial instruments (losses) and gains | (91.4 | ) | 58.2 | (58.3 | ) | |||||||||
Derivative financial instruments losses | (25.5 | ) | (43.0 | ) | (11.3 | ) | (86.8 | ) | Divestitures, net | — | 57.4 | 18.7 | |||||||||||||
Divestitures, net | 2.3 | — | 2.3 | — | Non-operating foreign currency gains | 4.8 | 5.3 | 21.2 | |||||||||||||||||
Non-operating foreign currency (losses) and gains | (13.0 | ) | (0.9 | ) | (14.2 | ) | 11.8 | Other | — | 3.2 | — | ||||||||||||||
Other income (expense) | $ | (36.2 | ) | $ | (52.0 | ) | $ | (20.9 | ) | $ | (82.8 | ) | Other income (expense) | $ | (94.3 | ) | $ | 124.1 | $ | (15.9 | ) | ||||
Supplemental Cash Flow Information | Supplemental Balance Sheet Information | ||||||||||||||||||||||||
Due to the short period of time between receipt of cash from the associations and payment to the merchants, which typically occurs intra-day except on weekends, the changes in settlement assets and obligations are presented on a net basis within operating activities in the Consolidated Statements of Cash Flows. Because the changes in the settlement assets balance exactly offset changes in settlement obligations, the activity nets to zero. | As of December 31, | ||||||||||||||||||||||||
(in millions) | 2012 | 2011 | |||||||||||||||||||||||
During the nine months ended September 30, 2013 and 2012, the Company entered into capital leases, net of trade-ins, totaling approximately $109 million and $49 million, respectively. | Current assets: | ||||||||||||||||||||||||
Accounts receivable: | |||||||||||||||||||||||||
Refer to Note 9 of these Consolidated Financial Statements for information concerning the Company’s stock-based compensation plans. | Customers | $ | 1,713.80 | $ | 1,682.80 | ||||||||||||||||||||
Due from unconsolidated merchant alliances | 37 | 36.8 | |||||||||||||||||||||||
Leasing receivables | 99.8 | 93.1 | |||||||||||||||||||||||
Interest and other receivables | 30.4 | 54 | |||||||||||||||||||||||
1,881.00 | 1,866.70 | ||||||||||||||||||||||||
Less allowance for doubtful accounts-other receivables | (29.9 | ) | (14.2 | ) | |||||||||||||||||||||
Less allowance for doubtful accounts-leasing receivables | (3.4 | ) | (3.9 | ) | |||||||||||||||||||||
$ | 1,847.70 | $ | 1,848.60 | ||||||||||||||||||||||
Other current assets: | |||||||||||||||||||||||||
Prepaid expenses | $ | 92 | $ | 113.5 | |||||||||||||||||||||
Inventory | 72.2 | 89.3 | |||||||||||||||||||||||
Deferred and other income tax assets | 78.3 | 120.1 | |||||||||||||||||||||||
Derivative financial instruments | 11.1 | — | |||||||||||||||||||||||
$ | 253.6 | $ | 322.9 | ||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
(in millions) | 2012 | 2011 | |||||||||||||||||||||||
Property and equipment: | |||||||||||||||||||||||||
Land | $ | 88.6 | $ | 95.8 | |||||||||||||||||||||
Buildings | 319.4 | 322.2 | |||||||||||||||||||||||
Leasehold improvements | 51.9 | 56.1 | |||||||||||||||||||||||
Equipment and furniture | 1,103.40 | 1,026.20 | |||||||||||||||||||||||
Equipment under capital lease | 316.8 | 278.5 | |||||||||||||||||||||||
1,880.10 | 1,778.80 | ||||||||||||||||||||||||
Less accumulated depreciation | (1,024.3 | ) | (842.9 | ) | |||||||||||||||||||||
$ | 855.8 | $ | 935.9 | ||||||||||||||||||||||
Other long-term assets: | |||||||||||||||||||||||||
Accounts receivable, net of allowance for doubtful accounts of $2.1(2012) | $ | 180.7 | $ | 160.3 | |||||||||||||||||||||
Leasing Receivables, net of allowance for doubtful accounts of $10.6 (2012) and $10.3 (2011) | 277.7 | 257.6 | |||||||||||||||||||||||
Investments | 13.9 | 24.2 | |||||||||||||||||||||||
Regulatory and escrowed cash | 5.1 | 13.9 | |||||||||||||||||||||||
Derivative financial instruments | 89.8 | 76.3 | |||||||||||||||||||||||
Deferred financing costs, net of amortization | 218.2 | 269.8 | |||||||||||||||||||||||
Deferred income tax assets | 10.4 | 10.5 | |||||||||||||||||||||||
Pension assets | — | 13.7 | |||||||||||||||||||||||
Other | 29.2 | 17.8 | |||||||||||||||||||||||
$ | 825 | $ | 844.1 | ||||||||||||||||||||||
Other current liabilities: | |||||||||||||||||||||||||
Accrued interest expense | $ | 496 | $ | 439.5 | |||||||||||||||||||||
Other accrued expenses | 554.8 | 537.5 | |||||||||||||||||||||||
Compensation and benefit liabilities | 307.2 | 284.6 | |||||||||||||||||||||||
Derivative financial instruments | 0.3 | 156.7 | |||||||||||||||||||||||
Due to unconsolidated merchant alliances | 8.7 | 6.9 | |||||||||||||||||||||||
Other | 233.6 | 217.9 | |||||||||||||||||||||||
$ | 1,600.60 | $ | 1,643.10 | ||||||||||||||||||||||
Other long-term liabilities: | |||||||||||||||||||||||||
Pension obligations | $ | 103.3 | $ | 91.1 | |||||||||||||||||||||
Derivative financial instruments | 171.8 | 39.7 | |||||||||||||||||||||||
Income taxes payable | 353 | 475.6 | |||||||||||||||||||||||
Other | 193.8 | 157.2 | |||||||||||||||||||||||
$ | 821.9 | $ | 763.6 | ||||||||||||||||||||||
Supplemental Cash Flow Information | |||||||||||||||||||||||||
Supplemental cash flow information is summarized as follows: | |||||||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Income tax payments, net of refunds received | $ | 70.1 | $ | 67.2 | $ | 100.5 | |||||||||||||||||||
Interest paid | $ | 1,793.90 | $ | 1,458.20 | $ | 1,494.90 | |||||||||||||||||||
Distributions received from equity method investments | $ | 244.5 | $ | 194.8 | $ | 194.1 | |||||||||||||||||||
Significant non-cash transactions. During 2011 and 2010, the principal amount of FDC’s senior notes due 2015 increased by $73.1 million and $362.5 million, respectively, resulting from the “payment” of accrued interest expense. The decrease in the amount of interest expense accrued during 2011 is due to the December 2010 exchange of notes discussed below. The terms of FDC’s senior unsecured notes due 2015 require interest to be paid in cash for all periods after October 1, 2011. | |||||||||||||||||||||||||
In December 2011, the Company exchanged substantially all of its aggregate principal amounts of $3.0 billion of its 12.625% senior notes due 2021 for publicly tradable notes having substantially identical terms and guarantees, except that the exchange notes will be freely tradable. | |||||||||||||||||||||||||
In December 2010, the Company exchanged $3.0 billion of its 9.875% senior notes due 2015 and $3.0 billion of its 10.550% senior PIK notes due 2015 for $2.0 billion of 8.25% senior second lien notes due 2021, $1.0 billion of 8.75%/10.00% PIK toggle senior second lien notes due 2022 and $3.0 billion of 12.625% senior notes due 2021. | |||||||||||||||||||||||||
There were no expenditures, other than professional fees, or receipts of cash associated with the registration statement or exchange offer described above. | |||||||||||||||||||||||||
During 2012, 2011 and 2010, the Company entered into capital leases, net of trade-ins, totaling approximately $55 million, $106 million and $65 million, respectively. | |||||||||||||||||||||||||
As discussed in Note 3 of these Consolidated Financial Statements, the Company acquired 100% of Clover Network, Inc. and recorded a $20 million liability for the contingent consideration due to outside investors based upon the net present value of the Company’s estimate of the future payments. | |||||||||||||||||||||||||
Also discussed in Note 3 of these Consolidated Financial Statements, the Company acquired the remaining approximately 30 percent noncontrolling interest in Omnipay for approximately 37.1 million euro, of which 19.0 million euro ($25.1 million) was paid in April 2012 with the remainder to be paid in April 2013. | |||||||||||||||||||||||||
In November 2011, the Company contributed the assets of its transportation business to an alliance in exchange for a 30% interest in the alliance. Refer to Note 18 of these Consolidated Financial Statements for additional information. | |||||||||||||||||||||||||
Refer to Note 13 of these Consolidated Financial Statements for information concerning the Company’s stock-based compensation plans. | |||||||||||||||||||||||||
Restructuring1
Restructuring | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||
Restructuring | ' | ' | ||||||||||||||||||||||||||||||||||
Restructuring | ' | ' | ||||||||||||||||||||||||||||||||||
Note 3: Restructuring | Note 2: Restructuring | |||||||||||||||||||||||||||||||||||
Restructuring Charges and Reversal of Restructuring Accruals | The Company recorded restructuring charges during the three years ended December 31, 2012. Restructuring accruals are reviewed each period and balances in excess of anticipated requirements are reversed through the same Consolidated Statements of Operations caption in which they were originally recorded. Such reversals resulted from the favorable resolution of contingencies and changes in facts and circumstances. | |||||||||||||||||||||||||||||||||||
A summary of net pretax benefits (charges), incurred by segment, for each period is as follows: | A summary of net pretax benefits (charges), incurred by segment, for each period is as follows: | |||||||||||||||||||||||||||||||||||
Pretax Benefit (Charge) | Pretax Benefit (Charge) | |||||||||||||||||||||||||||||||||||
(in millions) | Approximate | Retail and | Financial | International | All Other and | Totals | (in millions) | Retail and | Financial | International | All Other | Totals | ||||||||||||||||||||||||
Number of | Alliance | Services | Corporate | Alliance | Services | and | ||||||||||||||||||||||||||||||
Employees | Services | Services | Corporate | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||
Restructuring charges | 100 | $ | (1.8 | ) | $ | (3.6 | ) | $ | (0.6 | ) | $ | (4.1 | ) | $ | (10.1 | ) | Restructuring charges | $ | (7.5 | ) | $ | — | $ | (18.5 | ) | $ | (2.2 | ) | $ | (28.2 | ) | |||||
Restructuring accrual reversals | 1.2 | 0.2 | 0.6 | 0.3 | 2.3 | Restructuring accrual reversals | 1 | — | 2.8 | 1.3 | 5.1 | |||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (0.6 | ) | $ | (3.4 | ) | $ | — | $ | (3.8 | ) | $ | (7.8 | ) | Total pretax charge, net of reversals | $ | (6.5 | ) | $ | — | $ | (15.7 | ) | $ | (0.9 | ) | $ | (23.1 | ) | |||||||
Nine months ended September 30, 2013 | Year ended December 31, 2011 | |||||||||||||||||||||||||||||||||||
Restructuring charges | 460 | $ | (16.9 | ) | $ | (8.5 | ) | $ | (1.4 | ) | $ | (22.4 | ) | $ | (49.2 | ) | Restructuring charges | $ | (2.8 | ) | $ | (10.5 | ) | $ | (34.2 | ) | $ | (3.8 | ) | $ | (51.3 | ) | ||||
Restructuring accrual reversals | 1.9 | 0.2 | 0.6 | 0.5 | 3.2 | Restructuring accrual reversals | 1.1 | — | 2.5 | 1.3 | 4.9 | |||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (15.0 | ) | $ | (8.3 | ) | $ | (0.8 | ) | $ | (21.9 | ) | $ | (46.0 | ) | Total pretax charge, net of reversals | $ | (1.7 | ) | $ | (10.5 | ) | $ | (31.7 | ) | $ | (2.5 | ) | $ | (46.4 | ) | |||||
Three months ended September 30, 2012 | Year ended December 31, 2010 | |||||||||||||||||||||||||||||||||||
Restructuring charges | 10 | $ | (4.4 | ) | $ | — | $ | (1.7 | ) | $ | (1.2 | ) | $ | (7.3 | ) | Restructuring charges | $ | (20.3 | ) | $ | (11.3 | ) | $ | (28.2 | ) | $ | (27.7 | ) | $ | (87.5 | ) | |||||
Restructuring accrual reversals | — | — | 0.1 | — | 0.1 | Restructuring accrual reversals | 0.7 | 0.8 | 10.9 | 3.1 | 15.5 | |||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (4.4 | ) | $ | — | $ | (1.6 | ) | $ | (1.2 | ) | $ | (7.2 | ) | Total pretax charge, net of reversals | $ | (19.6 | ) | $ | (10.5 | ) | $ | (17.3 | ) | $ | (24.6 | ) | $ | (72.0 | ) | ||||||
Nine months ended September 30, 2012 | 2012. The Company recorded restructuring charges during 2012 primarily related to employee reduction and certain employee relocation efforts in Germany. The Company expects to record approximately $2 million of additional restructuring charges in 2013 in connection with the restructuring event in Germany. Additional restructuring charges were recorded in 2012 in connection with management’s alignment of the business with strategic objectives as well as refinements of estimates. Approximately 650 employees were impacted by the 2012 restructurings. The Company expects to record additional restructuring charges in 2013 associated with similar events and the departure of executive officers. | |||||||||||||||||||||||||||||||||||
Restructuring charges | 580 | $ | (7.4 | ) | $ | — | $ | (17.8 | ) | $ | (2.0 | ) | $ | (27.2 | ) | |||||||||||||||||||||
Restructuring accrual reversals | 1 | — | 0.8 | 1.3 | 3.1 | 2011. The 2011 restructurings resulted from the elimination of management and other positions, approximately 750 employees, as part of the Company aligning the business with strategic objectives. Partially offsetting the charges were reversals of excess 2009 and 2010 restructuring accruals as well as reversals resulting from the refinement of 2011 estimates. | ||||||||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (6.4 | ) | $ | — | $ | (17.0 | ) | $ | (0.7 | ) | $ | (24.1 | ) | ||||||||||||||||||||||
2010. The 2010 restructurings resulted from the elimination of management and other positions, approximately 1,200 employees, as part of the Company aligning the business with strategic objectives as well as domestic site consolidations and the reorganization of executive officers. Partially offsetting the charges were reversals of excess 2008 and 2009 restructuring accruals as well as reversals resulting from the refinement of 2010 estimates. | ||||||||||||||||||||||||||||||||||||
The Company recorded restructuring charges during the three and nine months ended September 30, 2013 in connection with management’s alignment of the business with strategic objectives and cost savings initiatives as well as refinements of estimates. During the nine months ended September 30, 2013, the Company also recorded restructuring charges in connection with the departure of executive officers. The Company expects to record additional charges in 2013 associated with the alignment of the business with strategic objectives and cost savings initiatives. | ||||||||||||||||||||||||||||||||||||
The following table summarizes the Company’s utilization of restructuring accruals for the years ended December 31, 2011 and 2012: | ||||||||||||||||||||||||||||||||||||
The Company recorded restructuring charges during the nine months ended September 30, 2012 primarily related to employee reduction and certain employee relocation efforts in Germany. Additional restructuring charges were recorded in 2012 in connection with management’s alignment of the business with strategic objectives as well as refinements of estimates. | ||||||||||||||||||||||||||||||||||||
(in millions) | Employee | Facility | ||||||||||||||||||||||||||||||||||
The following table summarizes the Company’s utilization of restructuring accruals for the nine months ended September 30, 2013: | Severance | Closure | ||||||||||||||||||||||||||||||||||
Remaining accrual as of January 1, 2011 | $ | 38.7 | $ | 0.2 | ||||||||||||||||||||||||||||||||
(in millions) | Employee | Expense provision | 45 | 6.3 | ||||||||||||||||||||||||||||||||
Severance | Cash payments and other | (62.2 | ) | (5.5 | ) | |||||||||||||||||||||||||||||||
Remaining accrual as of January 1, 2013 | $ | 13.1 | Changes in estimates | (4.8 | ) | (0.1 | ) | |||||||||||||||||||||||||||||
Expense provision | 49.2 | Remaining accrual as of December 31, 2011 | 16.7 | 0.9 | ||||||||||||||||||||||||||||||||
Cash payments and other | (30.3 | ) | Expense provision | 28.2 | — | |||||||||||||||||||||||||||||||
Changes in estimates | (3.2 | ) | Cash payments and other | (26.8 | ) | (0.8 | ) | |||||||||||||||||||||||||||||
Remaining accrual as of September 30, 2013 | $ | 28.8 | Changes in estimates | (5.0 | ) | (0.1 | ) | |||||||||||||||||||||||||||||
Remaining accrual as of December 31, 2012 | $ | 13.1 | $ | — | ||||||||||||||||||||||||||||||||
Borrowings1
Borrowings | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
Borrowings | ' | ' | |||||||||||||||||||||||
Borrowings | ' | ' | |||||||||||||||||||||||
Note 4: Borrowings | Note 8: Borrowings | ||||||||||||||||||||||||
Short-Term Borrowings | As of December 31, | ||||||||||||||||||||||||
(in millions) | 2012 | 2011 | |||||||||||||||||||||||
As of September 30, 2013 and December 31, 2012, FDC had approximately $231 million and $346 million available, respectively, under short-term lines of credit and other arrangements with foreign banks and alliance partners primarily to fund settlement activity. These arrangements are primarily associated with international operations and are in various functional currencies, the most significant of which are the Australian dollar, the Polish zloty and the euro. The total amounts outstanding against short-term lines of credit and other arrangements were $79.6 million and $177.2 million as of September 30, 2013 and December 31, 2012, respectively. Certain of these arrangements are uncommitted but FDC had $48.1 million and $130.0 million of borrowings outstanding against them as of September 30, 2013 and December 31, 2012, respectively. | Short-term borrowings | ||||||||||||||||||||||||
Senior secured revolving credit facility | $ | — | $ | — | |||||||||||||||||||||
Senior Secured Credit Facilities | Foreign lines of credit and other arrangements | 177.2 | 76.4 | ||||||||||||||||||||||
Total short-term borrowings | 177.2 | 76.4 | |||||||||||||||||||||||
Senior Secured Revolving Credit Facility. As of September 30, 2013, FDC’s senior secured revolving credit facility had commitments from financial institutions to provide $1,016.2 million of credit. Up to $500 million of the senior secured revolving credit facility is available for letters of credit, of which $48.1 million and $45.1 million were issued as of September 30, 2013 and December 31, 2012, respectively. In addition to the outstanding letters of credit, FDC had $95.0 million outstanding against this facility as of September 30, 2013 and no amounts outstanding as of December 31, 2012. At September 30, 2013, $873.1 million remained available under this facility after considering the outstanding borrowings and letters of credit. | |||||||||||||||||||||||||
Current portion of long-term borrowings (a): | |||||||||||||||||||||||||
Senior Secured Term Loan Facility. On February 13, 2013, FDC entered into a February 2013 Joinder Agreement relating to its credit agreement, pursuant to which FDC incurred $258 million in new term loans maturing on September 24, 2018. The interest rate applicable to the new September 2018 Term Loans is a rate equal to, at FDC’s option, either (a) LIBOR for deposits in U.S. dollars plus 500 basis points or (b) a base rate plus 400 basis points. FDC used the net cash proceeds from the new term loans to repay all of its outstanding term loan borrowings maturing in 2014 and to pay related fees and expenses. | 4.70% Unsecured notes due 2013, net of unamortized discount of $0.4 | 14.7 | — | ||||||||||||||||||||||
Capital lease obligations | 65.2 | 57 | |||||||||||||||||||||||
On April 10, 2013, FDC’s senior secured term loan facility was amended to create a senior secured replacement term loan facility in an aggregate principal amount equal to the aggregate outstanding principal amount of term loans due in 2017 that currently bear interest at a rate per annum equal to, at FDC’s option, LIBOR Rate plus 500 basis points or a base rate plus 400 basis points. As of April 10, 2013, all of the previously outstanding term loans due in 2017 were exchanged with loans under the new facility which have the same terms except the new loans bear interest at a rate per annum equal to, at FDC’s option, LIBOR Rate plus 400 basis points or a base rate plus 300 basis points. | Total current portion of long-term borrowings | 79.9 | 57 | ||||||||||||||||||||||
On April 15, 2013, FDC further amended its senior secured term loan facility to create a senior secured replacement term loan facility in an aggregate principal amount equal to the aggregate outstanding principal amount of the term loans due in 2018 that currently bear interest at a rate per annum equal to, at FDC’s option, LIBOR Rate plus 500 basis points or a base rate plus 400 basis points. All of the previously outstanding 2018 term loans were exchanged for loans under the new facility which have the same terms except the new loans bear interest at a rate per annum equal to, at FDC’s option, LIBOR Rate plus 400 basis points or a base rate plus 300 basis points. FDC paid closing fees in connection with the transaction. | Long-term borrowings (a): | ||||||||||||||||||||||||
Senior secured term loan facility due 2014, net of unamortized discount of $1.3 and $9.8 | 253.9 | 6,554.90 | |||||||||||||||||||||||
10.55% Senior Unsecured Notes | Senior secured term loan facility due 2017, net of unamortized discount of $12.7 | 2,658.60 | — | ||||||||||||||||||||||
Senior secured term loan facility due March 2018, net of unamortized discount of $27.3 and $27.2 | 4,633.30 | 4,626.20 | |||||||||||||||||||||||
On January 30, 2013, FDC commenced a tender offer to purchase for cash any and all of its outstanding 10.55% senior unsecured notes. The tender offer expired on February 27, 2013. Noteholders that validly tendered their notes on or before February 12, 2013 received an early tender premium. The completion of the tender offer was subject to the debt offering described below and certain other conditions. In addition, on March 1, 2013, FDC redeemed the outstanding 10.55% senior unsecured notes that were not repurchased upon completion of the tender offer. | Senior secured term loan facility due September 2018, net of unamortized discount of $21.4 | 728.6 | — | ||||||||||||||||||||||
7.375% Senior secured first lien notes due 2019, net of unamortized discount of $27.0 and $15.0 | 1,568.00 | 735 | |||||||||||||||||||||||
11.25% Senior Unsecured Notes Due 2021 | 8.875% Senior secured first lien notes due 2020, net of unamortized discount of $13.6 and $15.4 | 496.4 | 494.6 | ||||||||||||||||||||||
6.75% Senior secured first lien notes due 2020, net of unamortized discount of $29.4 | 2,120.60 | — | |||||||||||||||||||||||
On February 13, 2013, FDC issued $785 million aggregate principal amount of 11.25% senior unsecured notes due January 15, 2021. Interest on the notes will be payable in cash semi-annually on May 15 and November 15 of each year, commencing on November 15, 2013. FDC used the proceeds from the offering to repurchase all of its outstanding 10.55% senior unsecured notes as described above and to pay related fees and expenses. | 8.25% Senior secured second lien notes due 2021, net of unamortized discount of $14.3 and $16.1 | 1,985.40 | 1,983.60 | ||||||||||||||||||||||
8.75%/10.00% PIK toggle senior secured second lien notes due 2022 (b), net of unamortized discount of $7.3 and $8.1 | 992.7 | 991.9 | |||||||||||||||||||||||
The notes are unsecured and (i) rank senior in right of payment to any existing and future subordinated indebtedness, including the existing senior subordinated notes; (ii) rank equally in right of payment to any existing and future senior indebtedness; (iii) are effectively junior to all existing and future secured indebtedness, including indebtedness under the senior secured credit facilities, existing senior secured notes, existing senior secured second lien notes and capital leases to the extent of the collateral securing such indebtedness; and (iv) are effectively subordinated in right of payment to all existing and future indebtedness and other liabilities of the non-guarantor subsidiaries (other than indebtedness and liabilities owed to FDC or one of its subsidiary guarantors). | 12.625% Senior unsecured notes due 2021, net of unamortized discount of $21.5 and $24.2 | 2,978.50 | 2,975.80 | ||||||||||||||||||||||
9.875% Senior unsecured notes due 2015 | 783.5 | 783.5 | |||||||||||||||||||||||
The notes are similarly guaranteed in accordance with their terms by each of FDC’s domestic subsidiaries that guarantee obligations under FDC’s senior secured term loan facility described in more detail in Note 15 of these Consolidated Financial Statements. | 10.55% Senior unsecured notes due 2015 (previously senior PIK notes (b)) | 748.4 | 748.4 | ||||||||||||||||||||||
11.25% Senior unsecured subordinated notes due 2016 | 2,500.00 | 2,500.00 | |||||||||||||||||||||||
FDC may redeem the notes, in whole or in part, at any time prior to January 15, 2016, at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date and a “make-whole premium.” Thereafter, FDC may redeem the notes, in whole or in part, at established redemption prices. In addition, until January 15, 2016, FDC may redeem up to 35% of the aggregate principal amount of the notes at 111.25% with the net cash proceeds of one or more equity offerings. | 4.70% Unsecured notes due 2013, net of unamortized discount of $1.1 | — | 14 | ||||||||||||||||||||||
4.85% Unsecured notes due 2014, net of unamortized discount of $0.3 and $0.5 | 3.5 | 3.3 | |||||||||||||||||||||||
FDC has agreed to use its reasonably best efforts to register notes with the SEC having substantially identical terms as the 11.25% senior unsecured notes, as part of an offer to exchange freely tradable exchange notes for the 11.25% senior unsecured notes within 360 days after the issue date. If FDC fails to complete the exchange or, if required, to have a shelf registration statement declared effective within that time period (‘‘registration default’’), the annual interest rate on the notes will increase by 0.25%. The annual interest rate on the notes will increase by an additional 0.25% for each subsequent 90-day period during which the registration default continues, up to a maximum additional interest rate of 0.50% per year. FDC may subsequently cure the registration default and the applicable interest rate on the unsecured notes will revert to the original rate. If FDC must pay additional interest, it will be paid in cash on the same dates that other interest payments on the notes are made, until the registration default is corrected. | 4.95% Unsecured notes due 2015, net of unamortized discount of $1.0 and $1.5 | 8.8 | 8.3 | ||||||||||||||||||||||
Capital lease obligations | 68.7 | 102.2 | |||||||||||||||||||||||
10.625% Senior Unsecured Notes Due 2021 | Total long-term borrowings | 22,528.90 | 22,521.70 | ||||||||||||||||||||||
Total borrowings | $ | 22,786.00 | $ | 22,655.10 | |||||||||||||||||||||
On April 10, 2013, FDC issued $815 million aggregate principal amount of 10.625% senior unsecured notes due June 15, 2021. Interest on the notes will be payable in cash semi-annually on February 15 and August 15 of each year, commencing on August 15, 2013. FDC used the proceeds from the offering to repurchase all of its outstanding 9.875% senior unsecured notes and to pay related fees and expenses. | |||||||||||||||||||||||||
The notes are unsecured and (i) rank senior in right of payment to any existing and future subordinated indebtedness, including the existing senior subordinated notes; (ii) rank equally in right of payment to any existing and future senior indebtedness; (iii) are effectively junior to all existing and future secured indebtedness, including indebtedness under the senior secured credit facilities, existing senior secured notes, existing senior secured second lien notes and capital leases to the extent of the collateral securing such indebtedness; and (iv) are effectively subordinated in right of payment to all existing and future indebtedness and other liabilities of the non-guarantor subsidiaries (other than indebtedness and liabilities owed to the Company or one of its subsidiary guarantors). | (a) Unamortized discount amounts are as of December 31, 2012 and 2011, respectively. | ||||||||||||||||||||||||
(b) Payment In-Kind (“PIK”) | |||||||||||||||||||||||||
The notes are similarly guaranteed in accordance with their terms by each of FDC’s domestic subsidiaries that guarantee obligations under FDC’s senior secured term loan facility described in more detail in Note 15 of these Consolidated Financial Statements. | |||||||||||||||||||||||||
Short-Term Borrowings | |||||||||||||||||||||||||
FDC may redeem the notes, in whole or in part, at any time prior to April 15, 2016, at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date and a “make-whole premium.” Thereafter, FDC may redeem the notes, in whole or in part, at established redemption prices. In addition, until April 15, 2016, FDC may redeem up to 35% of the aggregate principal amount of the notes at 110.625% with the net cash proceeds of one or more equity offerings. | |||||||||||||||||||||||||
FDC had approximately $346 million and $341 million available under short-term lines of credit and other arrangements with foreign banks and alliance partners primarily to fund settlement activity, as of December 31, 2012 and 2011, respectively. These arrangements are primarily associated with international operations and are in various functional currencies, the most significant of which are the Australian dollar, the euro and the Polish zloty. The total amounts outstanding against short-term lines of credit and other arrangements were $177.2 million and $76.4 million as of December 31, 2012 and 2011, respectively. Certain of these arrangements are uncommitted but FDC had $130.0 million and $74.0 million of borrowings outstanding against them as of December 31, 2012 and 2011, respectively. The weighted average interest rates associated with these arrangements were 3.9% and 5.0% for the years ended December 31, 2012 and 2011, respectively. Commitment fees for the committed lines of credit range from 0.156% to 0.8%. | |||||||||||||||||||||||||
FDC has agreed to use its reasonably best efforts to register notes with the SEC having substantially identical terms as the 10.625% senior unsecured notes, as part of an offer to exchange freely tradable exchange notes for the 10.625% senior unsecured notes within 360 days after the issue date. If FDC fails to complete the exchange or, if required, to have a shelf registration statement declared effective within that time period (‘‘registration default’’), the annual interest rate on the notes will increase by 0.25%. The annual interest rate on the notes will increase by an additional 0.25% for each subsequent 90-day period during which the registration default continues, up to a maximum additional interest rate of 0.50% per year. FDC may subsequently cure the registration default and the applicable interest rate on the unsecured notes will revert to the original rate. If FDC must pay additional interest, it will be paid in cash on the same dates that other interest payments on the notes are made, until the registration default is corrected. | |||||||||||||||||||||||||
Senior Secured Credit Facilities | |||||||||||||||||||||||||
11.75% Senior Unsecured Subordinated Notes Due 2021 | |||||||||||||||||||||||||
Senior Secured Revolving Credit Facility. As of December 31, 2012, FDC’s senior secured revolving credit facility had commitments from financial institutions to provide $1,515.3 million of credit. A portion of the revolving credit facility, $499.1 million, matures on September 24, 2013 while the remaining $1,016.2 million matures between June 24, 2015 and September 24, 2016 subject to certain conditions. | |||||||||||||||||||||||||
On May 30, 2013, FDC issued $750 million aggregate principal amount of 11.75% senior unsecured subordinated notes due August 15, 2021. Interest on the notes will be payable in cash semi-annually on February 15 and August 15 of each year, commencing on February 15, 2014. FDC used the proceeds from the offering, together with cash on hand, to redeem $520 million aggregate principal amount of its outstanding 11.25% senior unsecured subordinated notes due 2016, repurchase $230 million aggregate principal amount of its outstanding 11.25% senior unsecured subordinated notes due 2016 in a privately negotiated transaction with an existing holder of such notes, and to pay related fees and expenses. | |||||||||||||||||||||||||
Up to $500 million of the senior secured revolving credit facility is available for letters of credit (of which $45.1 million and $45.0 million of letters of credit were issued under the facility as of December 31, 2012 and 2011, respectively). As of December 31, 2012, $1,470.2 million remained available. | |||||||||||||||||||||||||
The notes are unsecured and (i) subordinated in right of payment to all of FDC’s existing and future senior indebtedness; (ii) subordinated in right of payment to all of FDC’s secured indebtedness, including its senior secured credit facilities and FDC’s existing senior secured notes, to the extent of the value of the assets securing such indebtedness; (iii) structurally subordinated in right of payment to any existing and future indebtedness and other liabilities of its non-guarantor subsidiaries (other than indebtedness and liabilities owed to First Data or one of its subsidiary guarantors); (iv) rank equally in right of payment with all of FDC’s existing and future unsecured senior subordinated indebtedness; and (v) rank senior in right of payment to any of FDC’s indebtedness expressly subordinated to the notes. | |||||||||||||||||||||||||
Interest is payable at a rate equal to, at FDC’s option, either (a) LIBOR for deposits in the applicable currency plus an applicable margin or (b) the higher of (1) the prime rate of Credit Suisse and (2) the federal funds effective rate plus 0.50%, plus an applicable margin. The weighted-average interest rates were 5.25% and 5.8% for the years ended December 31, 2012 and 2011, respectively. The commitment fee rate for the unused portion of this facility ranges from 0.50% to 0.75% per year. | |||||||||||||||||||||||||
The notes are similarly guaranteed in accordance with their terms by each of FDC’s domestic subsidiaries that guarantee obligations under FDC’s senior secured term loan facility described in more detail in Note 15 of these Consolidated Financial Statements. | |||||||||||||||||||||||||
Senior Secured Term Loan Facility. The Company has amounts outstanding under its senior secured term loan facility under separate tranches as shown in the table below. A portion of each tranche is denominated in euro with the exception of the September 2018 term loan. Interest is payable based upon LIBOR or euro LIBOR plus an applicable margin as shown in the table below. | |||||||||||||||||||||||||
FDC may redeem the notes, in whole or in part, at any time prior to May 15, 2016, at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date and a “make-whole premium.” Thereafter, FDC may redeem the notes, in whole or in part, at established redemption prices. In addition, until May 15, 2016, FDC may redeem up to 35% of the aggregate principal amount of the notes at 111.75% with the net cash proceeds of one or more equity offerings. | |||||||||||||||||||||||||
U.S. dollar-denominated term loan | Euro-denominated term loan (U.S. dollar equivalent) | Totals | |||||||||||||||||||||||
FDC has agreed to use its reasonably best efforts to register notes with the SEC having substantially identical terms as the 11.75% senior unsecured subordinated notes, as part of an offer to exchange freely tradable exchange notes for the 11.75% senior unsecured subordinated notes within 360 days after the issue date. If FDC fails to complete the exchange or, if required, to have a shelf registration statement declared effective within that time period (‘‘registration default’’), the annual interest rate on the notes will increase by 0.25%. The annual interest rate on the notes will increase by an additional 0.25% for each subsequent 90-day period during which the registration default continues, up to a maximum additional interest rate of 0.50% per year. FDC may subsequently cure the registration default and the applicable interest rate on the unsecured notes will revert to the original rate. If FDC must pay additional interest, it will be paid in cash on the same dates that other interest payments on the notes are made, until the registration default is corrected. | As of December 31, | As of December 31, | As of December 31, | ||||||||||||||||||||||
(in millions) | 2012 | 2011 | Rate | 2012 | 2011 | Rate | 2012 | 2011 | |||||||||||||||||
Debt Financing Costs | Due September 24, 2014 | $ | 130.7 | $ | 6,154.20 | LIBOR + 275 bps | $ | 123.2 | $ | 400.7 | euro LIBOR + 275 bps | $ | 253.9 | $ | 6,554.90 | ||||||||||
Due March 24, 2017 | $ | 2,424.20 | LIBOR + 500 bps | $ | 234.4 | euro LIBOR + 500 bps | $ | 2,658.60 | |||||||||||||||||
In connection with the February, April and May 2013 transactions described above, FDC incurred total costs of $122.0 million, comprised of lender and underwriting fees and other expenses of approximately $60 million and premiums paid of approximately $62 million related to the tender offer and debt repurchases. Approximately $116.7 million of the total costs were recorded as discounts on the modified debt and are being amortized to interest expense over the remaining terms of the term loans and notes. | Due March 24, 2018 | $ | 4,225.10 | $ | 4,225.30 | LIBOR + 400 bps | $ | 408.2 | $ | 400.9 | euro LIBOR + 400 bps | $ | 4,633.30 | $ | 4,626.20 | ||||||||||
Due September 24, 2018 | $ | 728.6 | LIBOR + 500 bps | $ | 728.6 | ||||||||||||||||||||
Other | |||||||||||||||||||||||||
As of December 31, 2012, FDC held interest rate swaps to mitigate exposure to variability in interest payments on the outstanding variable rate senior secured term loan. Refer to Note 6 of these Consolidated Financial Statements for a discussion of the Company’s derivatives. | |||||||||||||||||||||||||
In August 2013, FDC paid off its 4.70% notes due 2013 for $15.1 million. | |||||||||||||||||||||||||
The original terms of FDC’s senior secured term loan facility required the Company to pay equal quarterly installments in aggregate annual amounts equal to 1% of the original principal amount. However, in conjunction with debt modifications and amendments over the last several years, proceeds from the issuance of the notes were used to prepay portions of the principal balances of FDC’s senior secured term loans which satisfied the future quarterly principal payments until September 2018. Therefore, the Company made no principal payments during 2011 or 2012. During 2010, the Company paid $96.2 million of principal payments on the senior secured term loan facility in accordance with the original provisions, of which $89.2 million related to the U.S. dollar-denominated loan and $7.0 million related to the euro-denominated loan. | |||||||||||||||||||||||||
Debt transactions effected subsequent to September 30, 2013 | |||||||||||||||||||||||||
The senior secured term loan facility also requires mandatory prepayments based on a percentage of excess cash flow generated by FDC. All obligations under the senior secured loan facility are fully and unconditionally guaranteed by substantially all domestic, wholly-owned subsidiaries of FDC, subject to certain exceptions. | |||||||||||||||||||||||||
Debt Offering. On October 30, 2013, FDC entered into an agreement to offer $1,000 million additional aggregate principal amount of 11.75% senior subordinated notes due 2021. FDC intends to use the net proceeds from the offering, together with cash on hand, to redeem $1,000 million aggregate principal amount of its outstanding 11.25% senior subordinated notes due 2016 and to pay related fees and expenses. | |||||||||||||||||||||||||
2012 Modifications and Amendments to the Senior Secured Credit Facilities. On March 13, 2012, FDC amended its credit agreement to, among other things: | |||||||||||||||||||||||||
The notes will be issued under the indenture governing the 11.75% Senior Unsecured Subordinated Notes due 2021 that were issued on May 30, 2013 described above. The notes are expected to be treated as a single series with the existing 11.75% Senior Unsecured Subordinated Notes and will have the same terms as the existing notes and will vote as one class under the indenture governing the notes. | |||||||||||||||||||||||||
(i) convert approximately $3.2 billion of the existing term loans maturing in 2014 (the “2014 Term Loans”) under FDC’s senior secured term credit facilities into a new dollar-denominated term loan tranche and a new euro-denominated term loan tranche, which will each mature on March 24, 2017 (collectively, the “2017 Term Loans”); | |||||||||||||||||||||||||
Related Financing Costs. In connection with this debt offering, FDC will incur approximately $11 million in lender and underwriting fees and other expenses. | |||||||||||||||||||||||||
(ii) permit FDC to provide a loan extension request upon such shorter notice period as may be agreed by the administrative agent; | |||||||||||||||||||||||||
(iii) permit the deduction of fees and expenses related to any loan extensions from the net cash proceeds of any substantially concurrent debt offering related thereto that are being used to repay term loans under its senior secured credit facilities; | |||||||||||||||||||||||||
(iv) increase the Maximum Incremental Facilities Amount (as defined in the Amended Credit Agreement) by the amount of outstanding 2014 Term Loans, provided such increased amount may only be used for the incurrence of indebtedness the net cash proceeds of which are substantially concurrently used to prepay 2014 Term Loans; | |||||||||||||||||||||||||
(v) increase the Maximum Incremental Facilities Amount by the amount of any permanent reduction and/or termination of the revolving credit commitments after the effectiveness date of the Amendment Agreement; | |||||||||||||||||||||||||
(vi) permit voluntary prepayments of term loans to be directed to a class of Extended Term Loans (as defined in the Amended Credit Agreement) without requiring a prepayment of existing term loans from which such Extended Term Loans were converted; and | |||||||||||||||||||||||||
(vii) provide for an increase in the interest applicable to the 2017 Term Loans to a rate equal to, at FDC’s option, either (i) LIBOR for deposits in the applicable currency plus 500 basis points or (ii) with regard to dollar-denominated borrowings, a base rate plus 400 basis points. | |||||||||||||||||||||||||
The amendment became effective on March 23, 2012 when FDC issued $845 million aggregate principal amount of additional 7.375% senior secured notes due June 15, 2019 (refer to the “7.375% Senior Secured First Lien Notes” section below) and, using the net proceeds therefrom, effected a prepayment of the outstanding 2017 Term Loans under the Amended Credit Agreement of approximately $807 million. | |||||||||||||||||||||||||
In connection with the debt modification and amendments and the debt offering discussed above, FDC incurred costs of $31.5 million, $27.0 million of which was recorded as discounts on the debt and are being amortized to interest expense over the remaining terms of the loans. | |||||||||||||||||||||||||
On August 16, 2012, FDC amended its credit agreement to, among other things: | |||||||||||||||||||||||||
(i) convert approximately $295 million of the existing term loans maturing in 2014 under FDC’s senior secured term credit facilities into a new dollar-denominated term loan tranche and a new euro-denominated term loan tranche, each of which will mature on March 24, 2017; and | |||||||||||||||||||||||||
(ii) provide for an increase in the interest applicable to these 2017 Term Loans to a rate equal to, at FDC’s option, either (a) LIBOR for deposits in the applicable currency plus 500 basis points or (b) with regard to dollar-denominated borrowings, a base rate plus 400 basis points. | |||||||||||||||||||||||||
In addition on August 16, 2012, the Company issued $1,300 million of 6.75% senior secured notes due November 1, 2020 described below. In accordance with the terms of FDC’s Amended Credit Agreement, FDC used the net proceeds from the issue and sale of approximately $1,266 million to repay a portion of its outstanding senior secured term loans. | |||||||||||||||||||||||||
FDC incurred costs of $23.2 million related to the August 2012 amendment and debt offering, $17.8 million of which was recorded as discounts on the debt and are being amortized to interest expense or over the remaining terms of the loans. | |||||||||||||||||||||||||
Additionally, on September 27, 2012, FDC entered into an Incremental Joinder Agreement relating to its credit agreement, pursuant to which FDC incurred $750 million in new term loans maturing on September 24, 2018 (“September 2018 Term Loans”). The term loans were issued at 98.250% of the par amount for a discount totaling $13.1 million. The interest rate applicable to the September 2018 Term Loans is a rate equal to, at FDC’s option, either (a) LIBOR for deposits in U.S. dollars plus 500 basis points or (b) a base rate plus 400 basis points. | |||||||||||||||||||||||||
Also on September 27, 2012, FDC issued and sold $850 million aggregate principal amount of 6.75% senior secured notes due November 1, 2020 described below. | |||||||||||||||||||||||||
In connection with the September 2012 Joinder Agreement and debt offering, FDC used the net cash proceeds to repay approximately $1,573 million of its outstanding dollar-denominated term loan borrowings maturing in 2014 and to pay related fees and expenses. FDC incurred costs of $21.0 million, $16.3 million of which was recorded as discounts on the debt and are being amortized to interest expense over the remaining terms of the loans. | |||||||||||||||||||||||||
7.375% Senior Secured First Lien Notes | |||||||||||||||||||||||||
On March 23, 2012, FDC issued and sold $845 million aggregate principal amount of additional 7.375% senior secured notes due June 15, 2019 in connection with the March 2012 amendment to its Senior Secured Credit Facilities discussed above. The additional notes were issued at 99.5% of the par amount for a discount totaling $4.2 million. The additional notes are treated as a single series with and have the same terms as the previously existing 7.375% notes. The additional notes and the previously existing 7.375% notes vote as one class under the related indenture. Interest on the notes is payable semi-annually on June 15 and December 15 of each year. | |||||||||||||||||||||||||
FDC may redeem these notes, in whole or in part, at any time on or after June 15, 2015 at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date and a make-whole premium. Thereafter, FDC may redeem the notes, in whole or in part, at established redemption prices. In addition, on or prior to June 15, 2014, FDC may redeem up to 35% of the aggregate principal amount of notes with the net cash proceeds from certain equity offerings at established redemption prices. | |||||||||||||||||||||||||
8.875% Senior Secured First Lien Notes | |||||||||||||||||||||||||
FDC’s 8.875% senior secured notes due August 15, 2020 require the payment of interest semi-annually on February 15 and August 15 of each year. The notes were issued at 98.387% of the par amount for a discount totaling $8.2 million. | |||||||||||||||||||||||||
FDC may redeem the notes, in whole or in part, at any time prior to August 15, 2015 at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date and an additional premium as defined. Thereafter, FDC may redeem the notes, in whole or in part, at established redemption prices, plus accrued and unpaid interest to the redemption date. In addition, on or prior to August 15, 2013, FDC may redeem up to 35% of the notes with the net cash proceeds from certain equity offerings at established redemption prices plus accrued and unpaid interest to the redemption date. | |||||||||||||||||||||||||
6.75% Senior Secured First Lien Notes | |||||||||||||||||||||||||
On August 16, 2012, FDC issued and sold $1,300 million aggregate principal amount of 6.75% senior secured notes due November 1, 2020. The notes were issued at 99.193% of the par amount for a discount totaling $10.5 million. Interest on the notes will be payable semi-annually on May 1 and November 1 of each year, commencing on May 1, 2013. | |||||||||||||||||||||||||
On September 27, 2012, FDC issued and sold $850 million aggregate principal amount of additional 6.75% senior secured notes pursuant to the indenture governing the 6.75% senior secured notes that were issued on August 16, 2012. The additional notes were treated as a single series with the existing 6.75% notes and have the same terms as those notes. The notes were issued at 100.75% of the par amount for a premium totaling $6.4 million. | |||||||||||||||||||||||||
FDC may redeem the notes, in whole or in part, at any time prior to November 1, 2015, at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date and a “make-whole premium.” Thereafter, FDC may redeem the notes, in whole or in part, at established redemption prices. In addition, on or prior to November 1, 2015, FDC may redeem up to 35% of the aggregate principal amount of notes with the net cash proceeds from certain equity offerings at established redemption prices. | |||||||||||||||||||||||||
Senior Secured Second Lien Notes | |||||||||||||||||||||||||
Interest on the 8.25% cash-pay notes is payable in cash, accrues interest at the rate of 8.25% per annum and is payable semi-annually in arrears on January 15 and July 15. The 8.25% cash-pay notes mature on January 15, 2021. | |||||||||||||||||||||||||
Cash interest on the PIK toggle notes accrues at a rate of 8.75% per annum and PIK interest accrues at a rate of 10.00% per annum. The initial interest payment on the PIK toggle notes was payable in cash. For any interest period thereafter through and including the interest period ending January 15, 2014, FDC may elect to pay interest on the PIK toggle notes (i) entirely in cash, (ii) entirely by increasing the aggregate principal amount of the outstanding PIK toggle notes or by issuing PIK notes (“PIK Interest”), or (iii) on 50% of the outstanding aggregate principal amount of the PIK toggle notes in cash and on 50% of the outstanding aggregate principal amount of the outstanding PIK toggle notes by increasing the aggregate principal amount of the outstanding PIK toggle notes or by issuing PIK notes (“Partial PIK Interest”). After January 15, 2014, all interest on the PIK toggle notes will be payable in cash. If FDC elects to pay PIK Interest or Partial PIK Interest, FDC will increase the principal amount of the PIK toggle notes or issue PIK toggle notes in an amount equal to the amount of PIK Interest or the portion of Partial PIK Interest payable in PIK toggle notes for the applicable interest payment period to holders of the PIK toggle notes on the relevant record date. As of December 31, 2012 and 2011, FDC elected to pay interest on the notes entirely in cash. The PIK toggle notes mature on January 15, 2022. | |||||||||||||||||||||||||
FDC may redeem the second lien notes, in whole or in part, at any time prior to January 15, 2016, at a price equal to 100% of the principal amount of the notes plus accrued and unpaid interest to the redemption date and a “make-whole premium.” Thereafter, FDC may redeem the second lien notes, in whole or in part, at established redemption prices. In addition, on or prior to January 15, 2014, FDC may redeem up to 35% of the aggregate principal amount of the notes with the net cash proceeds from certain equity offerings at established redemption prices. | |||||||||||||||||||||||||
12.625% Senior Unsecured Notes | |||||||||||||||||||||||||
Interest on the 12.625% senior notes is payable in cash, accrues at the rate of 12.625% per annum, and is payable semi-annually in arrears on January 15 and July 15. The 12.625% senior notes mature on January 15, 2021. | |||||||||||||||||||||||||
Effective December 2011, FDC exchanged substantially all of its 12.625% senior notes due 2021 for publicly tradable notes having substantially identical terms and guarantees, except that the exchange notes are freely tradable. FDC may redeem the senior notes, in whole or in part, at any time prior to January 15, 2016, at a price equal to 100% of the principal amount of the notes plus accrued and unpaid interest to the redemption date and a “make-whole premium.” Thereafter, FDC may redeem the senior notes, in whole or in part, at established redemption prices. In addition, on or prior to January 15, 2014, FDC may redeem up to 35% of the aggregate principal amount of the notes with the net cash proceeds from certain equity offerings at established redemption prices. | |||||||||||||||||||||||||
9.875% Senior Unsecured Notes and 10.55% Senior Unsecured Notes | |||||||||||||||||||||||||
FDC’s 9.875% senior notes due September 24, 2015 are publicly tradable and require the payment of interest semi-annually on March 31 and September 30. | |||||||||||||||||||||||||
FDC’s 10.55% senior notes due September 24, 2015 are publicly tradable and require the payment of interest semi-annually on March 31 and September 30. The terms require that interest on these notes up to and including September 30, 2011 be paid entirely by increasing the principal amount of the outstanding notes or by issuing senior PIK notes. Beginning October 1, 2011, interest was payable in cash and the first such payment was in April 2012. During 2011, FDC increased the principal amount of these notes by $73.1 million in accordance with this provision. | |||||||||||||||||||||||||
11.25% Senior Unsecured Subordinated Notes | |||||||||||||||||||||||||
FDC’s publicly tradable 11.25% senior subordinated notes due March 31, 2016 require the payment of interest semi-annually on March 31 and September 30. | |||||||||||||||||||||||||
Deferred Financing Costs | |||||||||||||||||||||||||
Deferred financing costs were capitalized in conjunction with certain of FDC’s debt issuances and totaled $218.2 million and $269.8 million, as of December 31, 2012 and 2011, respectively. Deferred financing costs are reported in the “Other long-term assets” line of the Consolidated Balance Sheets and are being amortized on a straight-line basis, which approximates the interest method, over the remaining term of the respective debt, with a weighted-average period of 6 years. In addition, lender fees associated with debt modifications and amendments were capitalized as discounts on the debt and are similarly being amortized on a straight-line basis over the remaining term of the respective debt. | |||||||||||||||||||||||||
Guarantees and Covenants | |||||||||||||||||||||||||
All obligations under the senior secured revolving credit facility and senior secured term loan facility are unconditionally guaranteed by substantially all existing and future, direct and indirect, wholly-owned, material domestic subsidiaries of FDC other than Integrated Payment Systems Inc. The senior secured facilities contain a number of covenants that, among other things, restrict FDC’s ability to incur additional indebtedness; create liens; enter into sale and leaseback transactions; engage in mergers or consolidations; sell or transfer assets; pay dividends and distributions or repurchase FDC’s or its parent company’s capital stock; make investments, loans or advances; prepay certain indebtedness; make certain acquisitions; engage in certain transactions with affiliates; amend material agreements governing certain indebtedness and change its lines of business. The senior secured facilities also require FDC to not exceed a maximum senior secured leverage ratio and contain certain customary affirmative covenants and events of default, including a change of control. FDC is in compliance with all applicable covenants. | |||||||||||||||||||||||||
All senior secured notes are guaranteed on a senior secured basis by each of FDC’s existing and future direct and indirect wholly owned domestic subsidiaries that guarantees FDC’s senior secured credit facilities. Each of the guarantees of the notes is a general senior obligation of each guarantor and rank senior in right of payment to all existing and future subordinated indebtedness of the guarantor subsidiary, including FDC’s existing senior subordinated notes. The notes rank equal in right of payment with all existing and future senior indebtedness of the guarantor subsidiary but are effectively senior to the guarantees of FDC’s existing senior unsecured notes and FDC’s existing senior secured second lien notes to the extent of the guarantor subsidiary’s value of the collateral securing the notes. The 7.375% Senior Secured First Lien Notes, 8.875% Senior Secured First Lien Notes, and 6.75% Senior Secured First Lien Notes are effectively equal in right of payment with each other and the guarantees of FDC’s senior secured credit facilities. Each series of notes are effectively subordinated to any obligations secured by liens permitted under the indenture for the particular series of notes and structurally subordinated to any existing and future indebtedness and other liabilities of any subsidiary of a guarantor that is not also a guarantor of the notes. | |||||||||||||||||||||||||
All senior unsecured notes (i) rank senior in right of payment to all of FDC’s existing and future subordinated indebtedness, (ii) rank equally in right of payment to all of the existing and future senior indebtedness, (iii) are effectively subordinated in right of payment to all existing and future secured debt to the extent of the value of the assets securing such debt, and (iv) are structurally subordinated to all obligations of each subsidiary that is not a guarantor of the senior notes. | |||||||||||||||||||||||||
The senior subordinated notes are unsecured and (i) rank equally in right of payment with all of the existing and future senior subordinated debt, (ii) rank senior in right of payment to all future debt and other obligations that are, by their terms, expressly subordinated in right of payment to the senior subordinated notes, (iii) are effectively subordinated in right of payment to all existing and future secured debt to the extent of the value of the assets securing such debt, and (iv) are structurally subordinated to all obligations of each subsidiary that is not a guarantor of the senior subordinated notes. | |||||||||||||||||||||||||
All obligations under the senior secured notes, senior secured second lien notes, PIK toggle senior second lien notes, senior unsecured notes, and senior unsecured subordinated notes also contain a number of covenants similar to those described for the senior secured obligations noted above. FDC is in compliance with all applicable covenants. | |||||||||||||||||||||||||
Debt transactions effected subsequent to December 31, 2012 | |||||||||||||||||||||||||
Debt Offering and Debt Repurchase. On January 30, 2013, FDC commenced a tender offer to purchase for cash any and all of its outstanding 10.55% senior unsecured notes. The tender offer expired on February 27, 2013. Noteholders that validly tendered their notes on or before February 12, 2013 received an early tender premium. The completion of the tender offer was subject to the debt offering described below and certain other conditions. In addition, on March 1, 2013, FDC redeemed the outstanding 10.55% senior unsecured notes that were not repurchased upon completion of the tender offer. | |||||||||||||||||||||||||
On February 13, 2013, the Company issued $785 million aggregate principal amount of 11.25% senior unsecured notes due January 15, 2021. Interest on the notes will be payable in cash semi-annually on May 15 and November 15 of each year, commencing on November 15, 2013. FDC used the proceeds from the offering to repurchase all of its outstanding 10.55% senior unsecured notes as described above and to pay related fees and expenses. | |||||||||||||||||||||||||
The notes are unsecured and (i) rank senior in right of payment to any existing and future subordinated indebtedness, including the existing senior subordinated notes; (ii) rank equally in right of payment to any existing and future senior indebtedness; (iii) be effectively junior to all existing and future secured indebtedness, including indebtedness under the senior secured credit facilities, existing senior secured notes, existing senior secured second lien notes and capital leases to the extent of the collateral securing such indebtedness; and (iv) be effectively subordinated in right of payment to all existing and future indebtedness and other liabilities of the non-guarantor subsidiaries (other than indebtedness and liabilities owed to the Company or one of its subsidiary guarantors). | |||||||||||||||||||||||||
The notes are similarly guaranteed in accordance with their terms by each of FDC’s domestic subsidiaries that guarantee obligations under FDC’s senior secured term loan facility described above. The notes also contain a number of covenants similar to those described for the senior secured obligations noted above. | |||||||||||||||||||||||||
FDC may redeem the notes, in whole or in part, at any time prior to January 15, 2016, at a price equal to 100% of the principal amount of the notes redeemed plus accrued and unpaid interest to the redemption date and a “make-whole premium.” Thereafter, FDC may redeem the notes, in whole or in part, at established redemption prices. In addition, until January 15, 2016, FDC may redeem up to 35% of the aggregate principal amount of the notes at 111.25% with the net cash proceeds of one or more equity offerings. | |||||||||||||||||||||||||
FDC has agreed to use its reasonably best efforts to register notes with the SEC having substantially identical terms as the 11.25% senior unsecured notes, as part of an offer to exchange freely tradable exchange notes for the 11.25% senior unsecured notes within 360 days after the issue date. If FDC fails to complete the exchange or, if required, to have a shelf registration statement declared effective within that time period (‘‘registration default’’), the annual interest rate on the notes will increase by 0.25%. The annual interest rate on the notes will increase by an additional 0.25% for each subsequent 90-day period during which the registration default continues, up to a maximum additional interest rate of 0.50% per year. FDC may subsequently cure the registration default and the applicable interest rate on the unsecured notes will revert to the original rate. If FDC must pay additional interest, it will be paid in cash on the same dates that other interest payments on the notes are made, until the registration default is corrected. | |||||||||||||||||||||||||
Joinder Agreement to the Senior Secured Credit Facilities. On February 13, 2013, FDC entered into a February 2013 Joinder Agreement relating to its credit agreement, pursuant to which FDC incurred $258 million in new term loans maturing on September 24, 2018. The interest rate applicable to the new September 2018 Term Loans is a rate equal to, at FDC’s option, either (a) LIBOR for deposits in U.S. dollars plus 500 basis points or (b) a base rate plus 400 basis points. FDC used the net cash proceeds from the new term loans to repay all of its outstanding term loan borrowings maturing in 2014 and to pay related fees and expenses. | |||||||||||||||||||||||||
Related Financing Costs. In connection with the debt offering and amendment to the senior secured credit facilities discussed above, the Company incurred lender fees and other expenses of approximately $14 million, excluding premiums paid of approximately $21 million related to the tender offer and debt repurchase. | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
In November 2011, FDC paid off its 5.625% notes due 2011 for $32.6 million. | |||||||||||||||||||||||||
In June 2010, FDC paid off its 4.50% notes due 2010 for $13.1 million. | |||||||||||||||||||||||||
Maturities | |||||||||||||||||||||||||
The following table presents the future aggregate annual maturities of long-term debt: | |||||||||||||||||||||||||
Year ended December 31, | Par Amount | ||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||
2013 | $ | 80.3 | |||||||||||||||||||||||
2014 | 294 | ||||||||||||||||||||||||
2015 | 1,568.00 | ||||||||||||||||||||||||
2016 | 2,506.60 | ||||||||||||||||||||||||
2017 | 2,672.00 | ||||||||||||||||||||||||
Thereafter | 15,665.40 | ||||||||||||||||||||||||
Segment_Information1
Segment Information | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
Segment Information | ' | ' | ||||||||||||||||||||||||||||||||
Segment Information | ' | ' | ||||||||||||||||||||||||||||||||
Note 5: Segment Information | Note 15: Segment Information | |||||||||||||||||||||||||||||||||
For a detailed discussion of the Company’s principles regarding its operating segments refer to Note 15 of the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by a company’s chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. First Data’s CODM is its Chief Executive Officer. The Company is organized in three segments: Retail and Alliance Services, Financial Services and International. | |||||||||||||||||||||||||||||||||
The following tables present the Company’s operating segment results for the three and nine months ended September 30, 2013 and 2012: | The business segment measurements provided to and evaluated by the CODM are computed in accordance with the principles listed below. | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | · The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies. | |||||||||||||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | |||||||||||||||||||||||||||||
Alliance | Services | and | · Segment results exclude divested businesses. | |||||||||||||||||||||||||||||||
Services | Corporate | |||||||||||||||||||||||||||||||||
Revenues: | · Segment revenue includes equity earnings in affiliates (excluding amortization expense) and intersegment revenue. Retail and Alliance Services segment revenue does not include equity earnings because it is reported using proportionate consolidation as described below. | |||||||||||||||||||||||||||||||||
Transaction and processing service fees | $ | 819.8 | $ | 331.1 | $ | 331.4 | $ | 18.8 | $ | 1,501.10 | ||||||||||||||||||||||||
Product sales and other | 96.9 | 15.3 | 92.8 | 13.2 | 218.2 | · Segment revenue excludes reimbursable debit network fees, postage and other revenue. | ||||||||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 7.4 | — | 7.4 | |||||||||||||||||||||||||||||
Total segment reporting revenues | $ | 916.7 | $ | 346.4 | $ | 431.6 | $ | 32 | $ | 1,726.70 | · Segment earnings before net interest expense, income taxes, depreciation and amortization (“EBITDA”) includes equity earnings in affiliates and excludes depreciation and amortization expense, net income attributable to noncontrolling interests, other operating expenses and other income (expense). Retail and Alliance Services segment EBITDA does not include equity earnings because it is reported using proportionate consolidation as described below. Additionally, segment EBITDA is adjusted for items similar to certain of those used in calculating the Company’s compliance with debt covenants. The additional items that are adjusted to determine segment EBITDA are: | |||||||||||||||||||||||
Internal revenue | $ | 5.8 | $ | 9.1 | $ | 2.6 | $ | — | $ | 17.5 | ||||||||||||||||||||||||
External revenue | $ | 910.9 | $ | 337.3 | $ | 429 | $ | 32 | $ | 1,709.20 | · stock based compensation and related expense is excluded; | |||||||||||||||||||||||
Depreciation and amortization | $ | 114.1 | $ | 82.5 | $ | 65 | $ | 9.4 | $ | 271 | ||||||||||||||||||||||||
Segment EBITDA | $ | 410.3 | $ | 162.7 | $ | 126 | $ | (71.9 | ) | $ | 627.1 | · official check and money order businesses’ EBITDA are excluded; | ||||||||||||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | (16.8 | ) | $ | (3.5 | ) | $ | (7.3 | ) | $ | (18.7 | ) | $ | (46.3 | ) | |||||||||||||||||||
· expenses related to the reorganization of global application development resources (applicable to 2010 ), expenses associated with domestic data center consolidation initiatives and planned workforce reduction expenses (applicable to 2010 ), certain platform development and other costs directly associated with the termination of the Chase Paymentech Solutions alliance, and expenses related to the conversion of certain BAMS alliance merchant clients onto the Company’s platforms all of which are considered nonrecurring projects (excludes costs accrued in purchase accounting). Effective October 1, 2011, First Data and Bank of America N.A. (“the Bank”) jointly decided to have First Data operate the Bank’s legacy settlement platform. Transition costs associated with the revised strategy are also excluded from segment EBITDA. | ||||||||||||||||||||||||||||||||||
Three months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | · debt issuance costs are excluded and represent costs associated with issuing debt and modifying the Company’s debt structure; | ||||||||||||||||||||||||||||
Alliance | Services | and | ||||||||||||||||||||||||||||||||
Services | Corporate | · KKR related items include annual sponsor and other fees for management, consulting, financial and other advisory services. | ||||||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||||||||
Transaction and processing service fees | $ | 807.6 | $ | 334.5 | $ | 321.9 | $ | 19.3 | $ | 1,483.30 | · Retail and Alliance Services segment revenue and EBITDA are reflected based on the Company’s proportionate share of the results of its investments in businesses accounted for under the equity method and consolidated subsidiaries with noncontrolling ownership interests. In addition, Retail and Alliance Services segment measures reflect commission payments to certain ISO’s, which are treated as an expense in the Consolidated Statements of Operations, as contra revenue to be consistent with revenue share arrangements with other ISO’s that are recorded as contra revenue. | |||||||||||||||||||||||
Product sales and other | 102.6 | 12.6 | 95.8 | 9.1 | 220.1 | |||||||||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 9.3 | — | 9.3 | · Corporate operations include administrative and shared service functions such as the executive group, legal, tax, treasury, internal audit, accounting, human resources, information technology and procurement. Costs incurred by Corporate that are directly attributable to a segment are allocated to the respective segment. Administrative, shared service and certain information technology costs are retained by Corporate. | ||||||||||||||||||||||||||||
Total segment reporting revenues | $ | 910.2 | $ | 347.1 | $ | 427 | $ | 28.4 | $ | 1,712.70 | ||||||||||||||||||||||||
Internal revenue | $ | 5.4 | $ | 7.8 | $ | 2.3 | $ | — | $ | 15.5 | The following tables present the Company’s operating segment results for the years ended December 31, 2012, 2011 and 2010: | |||||||||||||||||||||||
External revenue | $ | 904.8 | $ | 339.3 | $ | 424.7 | $ | 28.4 | $ | 1,697.20 | ||||||||||||||||||||||||
Depreciation and amortization | $ | 125.5 | $ | 83.6 | $ | 69.9 | $ | 10.4 | $ | 289.4 | Year ended December 31, 2012 | |||||||||||||||||||||||
Segment EBITDA | $ | 409.4 | $ | 149.5 | $ | 119.5 | $ | (69.9 | ) | $ | 608.5 | (in millions) | Retail and | Financial | International | All Other and | Totals | |||||||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | (21.9 | ) | $ | — | $ | (5.4 | ) | $ | (31.9 | ) | $ | (59.2 | ) | Alliance | Services | Corporate | |||||||||||||||||
Services | ||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2013 | Revenues: | |||||||||||||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | Transaction and processing service fees | $ | 3,198.80 | $ | 1,350.00 | $ | 1,291.20 | $ | 85.2 | $ | 5,925.20 | ||||||||||||||||||
Alliance | Services | and | Product sales and other | 404 | 40.1 | 391 | 39.8 | 874.9 | ||||||||||||||||||||||||||
Services | Corporate | Equity earnings in affiliates (a) | — | — | 36.2 | — | 36.2 | |||||||||||||||||||||||||||
Revenues: | Total segment reporting revenues | $ | 3,602.80 | $ | 1,390.10 | $ | 1,718.40 | $ | 125 | $ | 6,836.30 | |||||||||||||||||||||||
Transaction and processing service fees | $ | 2,414.60 | $ | 979.5 | $ | 973 | $ | 57 | $ | 4,424.10 | Internal revenue | $ | 20.2 | $ | 31.5 | $ | 9.9 | $ | — | $ | 61.6 | |||||||||||||
Product sales and other | 291.7 | 34.7 | 269.5 | 33.5 | 629.4 | External revenue | 3,582.60 | 1,358.60 | 1,708.50 | 125 | 6,774.70 | |||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 22.6 | — | 22.6 | Depreciation and amortization | 520.1 | 337.2 | 282.9 | 45.1 | 1,185.30 | |||||||||||||||||||||||
Total segment reporting revenues | $ | 2,706.30 | $ | 1,014.20 | $ | 1,265.10 | $ | 90.5 | $ | 5,076.10 | Segment EBITDA | 1,594.80 | 603.1 | 483.8 | (246.0 | ) | 2,435.70 | |||||||||||||||||
Internal revenue | $ | 16.7 | $ | 25.5 | $ | 7.5 | $ | — | $ | 49.7 | Other operating expenses and other income (expense) excluding divestitures | (29.1 | ) | (5.1 | ) | (24.3 | ) | (64.0 | ) | (122.5 | ) | |||||||||||||
External revenue | $ | 2,689.60 | $ | 988.7 | $ | 1,257.60 | $ | 90.5 | $ | 5,026.40 | Expenditures for long-lived assets | 25.1 | 49.2 | 163.9 | 132.1 | 370.3 | ||||||||||||||||||
Depreciation and amortization | $ | 338.2 | $ | 245.7 | $ | 198.5 | $ | 34.7 | $ | 817.1 | Equity earnings in affiliates | 137.8 | — | 20.4 | — | 158.2 | ||||||||||||||||||
Segment EBITDA | $ | 1,193.80 | $ | 446.5 | $ | 341.6 | $ | (201.7 | ) | $ | 1,780.20 | Investment in unconsolidated affiliates | 1,219.60 | — | 193.5 | — | 1,413.10 | |||||||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | 10.8 | $ | (8.4 | ) | $ | 18.1 | $ | (89.7 | ) | $ | (69.2 | ) | |||||||||||||||||||||
Year ended December 31, 2011 | ||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2012 | (in millions) | Retail and | Financial | International | All Other and | Totals | ||||||||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | Alliance | Services | Corporate | ||||||||||||||||||||||||||
Alliance | Services | and | Services | |||||||||||||||||||||||||||||||
Services | Corporate | Revenues: | ||||||||||||||||||||||||||||||||
Revenues: | Transaction and processing service fees | $ | 2,974.50 | $ | 1,350.00 | $ | 1,337.90 | $ | 108.3 | $ | 5,770.70 | |||||||||||||||||||||||
Transaction and processing service fees | $ | 2,363.40 | $ | 1,011.40 | $ | 952.6 | $ | 66.3 | $ | 4,393.70 | Product sales and other | 407.5 | 29.5 | 388.8 | 32.9 | 858.7 | ||||||||||||||||||
Product sales and other | 308 | 30 | 276 | 30.8 | 644.8 | Equity earnings in affiliates (a) | — | — | 34.6 | — | 34.6 | |||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 27.9 | — | 27.9 | Total segment reporting revenues | $ | 3,382.00 | $ | 1,379.50 | $ | 1,761.30 | $ | 141.2 | $ | 6,664.00 | ||||||||||||||||||
Total segment reporting revenues | $ | 2,671.40 | $ | 1,041.40 | $ | 1,256.50 | $ | 97.1 | $ | 5,066.40 | Internal revenue | $ | 17.5 | $ | 37.8 | $ | 9.8 | $ | — | $ | 65.1 | |||||||||||||
Internal revenue | $ | 14.9 | $ | 23.4 | $ | 6.8 | $ | — | $ | 45.1 | External revenue | 3,364.50 | 1,341.70 | 1,751.50 | 141.2 | 6,598.90 | ||||||||||||||||||
External revenue | $ | 2,656.50 | $ | 1,018.00 | $ | 1,249.70 | $ | 97.1 | $ | 5,021.30 | Depreciation and amortization | 571.1 | 347.7 | 222.7 | 45.1 | 1,186.60 | ||||||||||||||||||
Depreciation and amortization | $ | 391.5 | $ | 255.5 | $ | 213.2 | $ | 33.5 | $ | 893.7 | Segment EBITDA | 1,407.50 | 593.5 | 454.3 | (206.8 | ) | 2,248.50 | |||||||||||||||||
Segment EBITDA | $ | 1,176.60 | $ | 457.2 | $ | 332.4 | $ | (186.0 | ) | $ | 1,780.20 | Other operating expenses and other income (expense) excluding divestitures | (0.4 | ) | (10.5 | ) | (12.1 | ) | 45.8 | 22.8 | ||||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | (28.8 | ) | $ | (5.1 | ) | $ | (25.7 | ) | $ | (52.4 | ) | $ | (112.0 | ) | Expenditures for long-lived assets | 33.4 | 60 | 168 | 143.4 | 404.8 | |||||||||||||
Equity earnings in affiliates | 118.5 | — | 34.9 | — | 153.4 | |||||||||||||||||||||||||||||
A reconciliation of reportable segment amounts to the Company’s consolidated balances is as follows: | Investment in unconsolidated affiliates | 1,288.90 | — | 201.7 | — | 1,490.60 | ||||||||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, 2010 | ||||||||||||||||||||||||||||||||
September 30, | September 30, | (in millions) | Retail and | Financial | International | All Other and | Totals | |||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Alliance | Services | Corporate | |||||||||||||||||||||||||||
Segment Revenues: | Services | |||||||||||||||||||||||||||||||||
Total reported segments | $ | 1,694.70 | $ | 1,684.30 | $ | 4,985.60 | $ | 4,969.30 | Revenues: | |||||||||||||||||||||||||
All Other and Corporate | 32 | 28.4 | 90.5 | 97.1 | Transaction and processing service fees | $ | 2,923.90 | $ | 1,362.20 | $ | 1,237.50 | $ | 126.8 | $ | 5,650.40 | |||||||||||||||||||
Adjustment to reconcile to Adjusted revenue: | Product sales and other | 390.9 | 46.8 | 353.9 | 23.9 | 815.5 | ||||||||||||||||||||||||||||
Official check and money order revenues (b) | (0.8 | ) | (2.3 | ) | (3.2 | ) | (11.9 | ) | Equity earnings in affiliates (a) | — | — | 29.4 | — | 29.4 | ||||||||||||||||||||
Eliminations of intersegment revenues | (17.5 | ) | (15.5 | ) | (49.7 | ) | (45.1 | ) | Total segment reporting revenues | $ | 3,314.80 | $ | 1,409.00 | $ | 1,620.80 | $ | 150.7 | $ | 6,495.30 | |||||||||||||||
Adjusted revenue | 1,708.40 | 1,694.90 | 5,023.20 | 5,009.40 | Internal revenue | $ | 18 | $ | 36 | $ | 8.4 | $ | — | $ | 62.4 | |||||||||||||||||||
Adjustments to reconcile to Consolidated revenues: | External revenue | 3,296.80 | 1,373.00 | 1,612.40 | 150.7 | 6,432.90 | ||||||||||||||||||||||||||||
Adjustments for non-wholly-owned entities (c) | 3 | 11.8 | 26.3 | 48.5 | Depreciation and amortization | 676.2 | 362.9 | 289.9 | 51.2 | 1,380.20 | ||||||||||||||||||||||||
Official check and money order revenues (b) | 0.8 | 2.3 | 3.2 | 11.9 | Segment EBITDA | 1,322.30 | 553 | 329.8 | (178.1 | ) | 2,027.00 | |||||||||||||||||||||||
ISO commission expense | 123.5 | 120.6 | 362.6 | 355.7 | Other operating expenses and other income (expense) excluding divestitures | (60.2 | ) | (8.5 | ) | (26.4 | ) | (21.0 | ) | (116.1 | ) | |||||||||||||||||||
Reimbursable debit network fees, postage and other | 876.4 | 844.4 | 2,596.50 | 2,498.00 | Expenditures for long-lived assets | 27.9 | 69.9 | 171.3 | 100.6 | 369.7 | ||||||||||||||||||||||||
Consolidated revenues | $ | 2,712.10 | $ | 2,674.00 | $ | 8,011.80 | $ | 7,923.50 | Equity earnings in affiliates | 104.8 | — | 12.5 | — | 117.3 | ||||||||||||||||||||
Segment EBITDA: | Investment in unconsolidated affiliates | 1,013.50 | — | 194.7 | — | 1,208.20 | ||||||||||||||||||||||||||||
Total reported segments | $ | 699 | $ | 678.4 | $ | 1,981.90 | $ | 1,966.20 | ||||||||||||||||||||||||||
All Other and Corporate | (71.9 | ) | (69.9 | ) | (201.7 | ) | (186.0 | ) | A reconciliation of reportable segment amounts to the Company’s consolidated balances is as follows: | |||||||||||||||||||||||||
Adjusted EBITDA | 627.1 | 608.5 | 1,780.20 | 1,780.20 | ||||||||||||||||||||||||||||||
Adjustments to reconcile to “Net loss attributable to First Data Corporation”: | Year ended December 31, | |||||||||||||||||||||||||||||||||
Adjustments for non-wholly-owned entities (c) | 0.5 | 4.1 | 3.2 | 3.8 | (in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||
Depreciation and amortization | (271.3 | ) | (293.5 | ) | (818.2 | ) | (897.1 | ) | Segment Revenues: | |||||||||||||||||||||||||
Interest expense | (469.0 | ) | (488.6 | ) | (1,410.2 | ) | (1,430.4 | ) | Total reported segments | $ | 6,711.30 | $ | 6,522.80 | $ | 6,344.60 | |||||||||||||||||||
Interest income | 2.7 | 2.1 | 8 | 6.3 | All Other and Corporate | 125 | 141.2 | 150.7 | ||||||||||||||||||||||||||
Other items (d) | (49.8 | ) | (70.8 | ) | (86.4 | ) | (137.1 | ) | Adjustments to reconcile to Adjusted revenue: | |||||||||||||||||||||||||
Income tax (expense) benefit | (28.6 | ) | 69.4 | (101.7 | ) | 252.3 | Official check and money order revenues (b) | (12.7 | ) | (9.9 | ) | 8 | ||||||||||||||||||||||
Stock-based compensation | (5.5 | ) | (3.4 | ) | (36.1 | ) | (10.4 | ) | Eliminations of intersegment revenues | (61.6 | ) | (65.1 | ) | (62.4 | ) | |||||||||||||||||||
Official check and money order EBITDA (b) | 0.4 | 1.4 | 1.9 | 6.2 | Adjusted revenue | 6,762.00 | 6,589.00 | 6,440.90 | ||||||||||||||||||||||||||
Costs of alliance conversions | (17.8 | ) | (22.8 | ) | (59.1 | ) | (56.5 | ) | Adjustments to reconcile to Consolidated revenues: | |||||||||||||||||||||||||
KKR related items | (8.3 | ) | (8.4 | ) | (24.4 | ) | (25.2 | ) | Adjustments for non-wholly-owned entities (c) | 73.2 | 179.7 | 224.1 | ||||||||||||||||||||||
Debt issuance costs | 0.1 | (10.0 | ) | (3.2 | ) | (14.0 | ) | Official check and money order revenues | 12.7 | 9.9 | (8.0 | ) | ||||||||||||||||||||||
Net loss attributable to First Data Corporation | $ | (219.5 | ) | $ | (212.0 | ) | $ | (746.0 | ) | $ | (521.9 | ) | ISO commission expense | 470.9 | 403.5 | 333.8 | ||||||||||||||||||
Reimbursable debit network fees, postage and other | 3,361.50 | 3,531.50 | 3,389.60 | |||||||||||||||||||||||||||||||
(a) Excludes equity losses that were recorded in expense and the amortization related to the excess of the investment balance over the Company’s proportionate share of the investee’s net book value for the International segment. | Consolidated revenues | $ | 10,680.30 | $ | 10,713.60 | $ | 10,380.40 | |||||||||||||||||||||||||||
(b) Represents an adjustment to exclude the official check and money order businesses from revenue and EBITDA due to the Company’s wind down of these businesses. | Segment EBITDA: | |||||||||||||||||||||||||||||||||
(c) Represents the net adjustment to reflect First Data’s proportionate share of alliance revenue and EBITDA within the Retail and Alliance Services segment, equity earnings in affiliates included in International segment revenue and amortization related to equity method investments not included in segment EBITDA. | Total reported segments | $ | 2,681.70 | $ | 2,455.30 | $ | 2,205.10 | |||||||||||||||||||||||||||
(d) Includes restructuring, certain retention bonuses, litigation and regulatory settlements, and impairments as applicable to the periods presented and “Other income (expense)” as presented in the Consolidated Statements of Operations. | All Other and Corporate | (246.0 | ) | (206.8 | ) | (178.1 | ) | |||||||||||||||||||||||||||
Adjusted EBITDA | 2,435.70 | 2,248.50 | 2,027.00 | |||||||||||||||||||||||||||||||
Segment assets are as follows: | Adjustments to reconcile to Net loss attributable to First Data Corporation: | |||||||||||||||||||||||||||||||||
Divested businesses | — | — | 1.1 | |||||||||||||||||||||||||||||||
(in millions) | As of September 30, | As of December 31, | Adjustments for non-wholly-owned entities (c) | 6.8 | 59.5 | 34.3 | ||||||||||||||||||||||||||||
2013 | 2012 | Depreciation and amortization | (1,191.6 | ) | (1,245.0 | ) | (1,414.4 | ) | ||||||||||||||||||||||||||
Assets: | Interest expense | (1,897.8 | ) | (1,833.1 | ) | (1,796.6 | ) | |||||||||||||||||||||||||||
Retail and Alliance Services | $ | 25,607.60 | $ | 25,885.70 | Interest income | 8.8 | 7.9 | 7.8 | ||||||||||||||||||||||||||
Financial Services | 4,192.30 | 4,477.10 | Other items (d) | (156.9 | ) | 62.4 | (97.4 | ) | ||||||||||||||||||||||||||
International | 5,061.40 | 5,305.70 | Income tax benefit | 224 | 270.1 | 323.8 | ||||||||||||||||||||||||||||
All Other and Corporate | 1,982.40 | 2,230.50 | Stock based compensation | (11.8 | ) | (16.9 | ) | (16.1 | ) | |||||||||||||||||||||||||
Consolidated | $ | 36,843.70 | $ | 37,899.00 | Official check and money order EBITDA (b) | 6.4 | (0.5 | ) | (21.2 | ) | ||||||||||||||||||||||||
Costs of alliance conversions | (77.2 | ) | (28.4 | ) | (25.7 | ) | ||||||||||||||||||||||||||||
A reconciliation of reportable segment depreciation and amortization amounts to the Company’s consolidated balances in the Consolidated Statements of Cash Flows is as follows: | Stock plan modification expenses | — | — | (7.8 | ) | |||||||||||||||||||||||||||||
KKR related items | (33.6 | ) | (37.4 | ) | (28.5 | ) | ||||||||||||||||||||||||||||
Three months ended | Nine months ended | Debt issuance costs | (13.7 | ) | (3.2 | ) | (8.1 | ) | ||||||||||||||||||||||||||
September 30, | September 30, | Net loss attributable to First Data Corporation | $ | (700.9 | ) | $ | (516.1 | ) | $ | (1,021.8 | ) | |||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Depreciation and amortization: | ||||||||||||||||||||||||||||||||||
Total reported segments | $ | 261.6 | $ | 279 | $ | 782.4 | $ | 860.2 | (a) Excludes equity losses that were recorded in expense and the amortization related to the excess of the investment balance over the Company’s proportionate share of the investee’s net book value for the International segment. | |||||||||||||||||||||||||
All Other and Corporate | 9.4 | 10.4 | 34.7 | 33.5 | (b) Represents an adjustment to exclude the official check and money order businesses from revenue and EBITDA due to the Company’s wind down of these businesses. | |||||||||||||||||||||||||||||
271 | 289.4 | 817.1 | 893.7 | (c) Net adjustment to reflect First Data’s proportionate share of alliance revenue and EBITDA within the Retail and Alliance Services segment, equity earnings in affiliates included in International segment revenue and amortization related to equity method investments not included in segment EBITDA. | ||||||||||||||||||||||||||||||
Adjustments to reconcile to consolidated depreciation and amortization: | (d) Includes restructuring, litigation and regulatory settlements and impairments as applicable to the periods presented and “Other income (expense)” as presented in the Consolidated Statement of Operations. | |||||||||||||||||||||||||||||||||
Adjustments for non-wholly-owned entities | 20 | 25.5 | 60.3 | 76.7 | ||||||||||||||||||||||||||||||
Amortization of initial payments for new contracts | 10.4 | 12 | 30.7 | 33.7 | Segment assets are as follows: | |||||||||||||||||||||||||||||
Total consolidated depreciation and amortization | $ | 301.4 | $ | 326.9 | $ | 908.1 | $ | 1,004.10 | ||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | ||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||||
Retail and Alliance Services | $ | 25,885.70 | $ | 27,882.20 | ||||||||||||||||||||||||||||||
Financial Services | 4,477.10 | 4,647.80 | ||||||||||||||||||||||||||||||||
International | 5,305.70 | 5,332.90 | ||||||||||||||||||||||||||||||||
All Other and Corporate | 2,230.50 | 2,413.40 | ||||||||||||||||||||||||||||||||
Consolidated | $ | 37,899.00 | $ | 40,276.30 | ||||||||||||||||||||||||||||||
A reconciliation of reportable segment depreciation and amortization amounts to the Company’s consolidated balances in the Consolidated Statements of Cash Flows is as follows: | ||||||||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||||
Depreciation and Amortization: | ||||||||||||||||||||||||||||||||||
Total reported segments | $ | 1,140.20 | $ | 1,141.50 | $ | 1,329.00 | ||||||||||||||||||||||||||||
All Other and Corporate | 45.1 | 45.1 | 51.2 | |||||||||||||||||||||||||||||||
1,185.30 | 1,186.60 | 1,380.20 | ||||||||||||||||||||||||||||||||
Adjustments to reconcile to consolidated depreciation and amortization: | ||||||||||||||||||||||||||||||||||
Adjustments for non-wholly-owned entities | 101.1 | 115.1 | 107.2 | |||||||||||||||||||||||||||||||
Amortization of initial payments for new contracts | 44.5 | 42.5 | 38.6 | |||||||||||||||||||||||||||||||
Total consolidated depreciation and amortization | $ | 1,330.90 | $ | 1,344.20 | $ | 1,526.00 | ||||||||||||||||||||||||||||
Information concerning principal geographic areas was as follows: | ||||||||||||||||||||||||||||||||||
(in millions) | United | International | Total | |||||||||||||||||||||||||||||||
States | ||||||||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||||||||
2012 | $ | 9,046.00 | $ | 1,634.30 | $ | 10,680.30 | ||||||||||||||||||||||||||||
2011 | 9,026.30 | 1,687.30 | 10,713.60 | |||||||||||||||||||||||||||||||
2010 | 8,806.80 | 1,573.60 | 10,380.40 | |||||||||||||||||||||||||||||||
Long-Lived Assets | ||||||||||||||||||||||||||||||||||
2012 | $ | 20,594.90 | $ | 3,128.30 | $ | 23,723.20 | ||||||||||||||||||||||||||||
2011 | 21,154.60 | 3,290.50 | 24,445.10 | |||||||||||||||||||||||||||||||
2010 | 21,979.00 | 3,424.60 | 25,403.60 | |||||||||||||||||||||||||||||||
“International” represents businesses of significance, which have local currency as their functional currency regardless of the segments to which the associated revenues and long-lived assets applied. | ||||||||||||||||||||||||||||||||||
Redeemable_Noncontrolling_Inte
Redeemable Noncontrolling Interest | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Redeemable Noncontrolling Interest | ' | |||||||
Redeemable Noncontrolling Interest | ' | |||||||
Note 6: Redeemable Noncontrolling Interest | ||||||||
The following table presents a summary of the redeemable noncontrolling interest activity: | ||||||||
(in millions) | 2013 | 2012 | ||||||
Balance as of January 1, | $ | 67.4 | $ | 67.4 | ||||
Distributions | (26.0 | ) | (27.4 | ) | ||||
Share of income | 24.6 | 26.6 | ||||||
Adjustment to redemption value of redeemable noncontrolling interest | 2 | — | ||||||
Other | (0.1 | ) | — | |||||
Balance as of September 30, | $ | 67.9 | $ | 66.6 | ||||
Commitments_and_Contingencies1
Commitments and Contingencies | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||
Commitments and Contingencies | ' | ' | ||||
Commitments and Contingencies | ' | ' | ||||
Note 7: Commitments and Contingencies | Note 11: Commitments and Contingencies | |||||
The Company is involved in various legal proceedings. Accruals have been made with respect to these matters, where appropriate, which are reflected in the Company’s Consolidated Financial Statements. The Company may enter into discussions regarding settlement of these matters, and may enter into settlement agreements, if it believes settlement is in the best interest of the Company. The matters discussed below, if decided adversely to or settled by the Company, individually or in the aggregate, may result in liability material to the Company’s financial condition and/or results of operations. | Operating Leases | |||||
Legal | The Company leases certain of its facilities and equipment under operating lease agreements, substantially all of which contain renewal options and escalation provisions. The following table presents the amounts associated with total rent expense for operating leases: | |||||
On July 2, 2004, a class action complaint was filed against the Company, its subsidiary Concord EFS, Inc., and various financial institutions. Plaintiffs claim that the defendants violated antitrust laws by conspiring to artificially inflate foreign ATM fees that were ultimately charged to ATM cardholders. Plaintiffs seek a declaratory judgment, injunctive relief, compensatory damages, attorneys’ fees, costs and such other relief as the nature of the case may require or as may seem just and proper to the court. Similar suits were filed and served in July, August and October 2004 (referred to collectively as the “ATM Fee Antitrust Litigation”). The Court granted judgment in favor of the defendants, dismissing the case on September 17, 2010. On October 14, 2010, the plaintiffs appealed the summary judgment. On July 12, 2012, the United States Court of Appeals for the Ninth Circuit affirmed the Northern District Court of California’s dismissal of all the claims against the defendants. On July 26, 2012, the plaintiffs petitioned the Ninth Circuit for rehearing en banc and on March 13, 2013, the United States Court of Appeals for the Ninth Circuit issued an order denying the plaintiffs’ petition for rehearing. On July 11, 2013, the plaintiffs filed a petition for a writ of certiorari with the United States Supreme Court and on October 7, 2013, the United States Supreme Court denied such writ of certiorari. | Year ended December 31, | Amount | ||||
(in millions) | ||||||
There are asserted claims against the Company where an unfavorable outcome is considered to be reasonably possible. These claims can generally be categorized in the following areas: (1) patent infringement which results from claims that the Company is using technology that has been patented by another party; (2) merchant matters often associated with alleged processing errors or disclosure issues and claims that one of the subsidiaries of the Company has violated a federal or state requirement regarding credit reporting or collection in connection with its check verification guarantee, and collection activities; and (3) other matters which may include issues such as employment. The Company’s estimates of the possible ranges of losses in excess of any amounts accrued are $0 to $40 million for patent infringement, $0 to $45 million for merchant matters and $0 to $5 million for other matters, resulting in a total estimated range of possible losses of $0 to $90 million for all of the matters described above. | 2012 | $ | 72.4 | |||
2011 | 81.3 | |||||
The estimated range of reasonably possible losses is based on currently available information and involves elements of judgment and significant uncertainties. As additional information becomes available and the resolution of the uncertainties becomes more apparent, it is possible that actual losses may exceed even the high end of the estimated range. | 2010 | 83.7 | ||||
Other | ||||||
Future minimum aggregate rental commitments as of December 31, 2012 under all noncancelable operating leases, net of sublease income, were $293.3 million and are due in the following years: | ||||||
In the normal course of business, the Company is subject to claims and litigation, including indemnification obligations to purchasers of former subsidiaries. Management of the Company believes that such matters will not have a material adverse effect on the Company’s results of operations, liquidity or financial condition. | ||||||
Year ended December 31, | Amount | |||||
(in millions) | ||||||
2013 | $ | 57.3 | ||||
2014 | 47.1 | |||||
2015 | 37.8 | |||||
2016 | 34.4 | |||||
2017 | 26.8 | |||||
Thereafter | 89.9 | |||||
Sublease income is earned from leased space which FDC concurrently subleases to third parties with comparable time periods. As of December 31, 2012, there were no sublease amounts in FDC obligations. In addition, the Company has certain guarantees imbedded in leases and other agreements wherein the Company is required to relieve the counterparty in the event of changes in the tax code or rates. The Company believes the fair value of such guarantees is insignificant due to the likelihood and extent of the potential changes. | ||||||
Letters of Credit | ||||||
The Company has $45.1 million in outstanding letters of credit as of December 31, 2012, all of which were issued under the Company’s senior secured revolving credit facility and expire prior to December 10, 2013 with a one-year renewal option. The letters of credit are held in connection with lease arrangements, bankcard association agreements and other security agreements. The Company expects to renew most of the letters of credit prior to expiration. | ||||||
Contingencies | ||||||
The Company is involved in various legal proceedings. Accruals have been made with respect to these matters, where appropriate, which are reflected in the Company’s consolidated financial statements. The Company may enter into discussions regarding settlement of these matters, and may enter into settlement agreements, if it believes settlement is in the best interest of the Company. The matters discussed below, if decided adversely to or settled by the Company, individually or in the aggregate, may result in liability material to the Company’s financial condition and/or results of operations. | ||||||
On July 2, 2004, a class action complaint was filed against the Company, its subsidiary Concord EFS, Inc., and various financial institutions. Plaintiffs claim that the defendants violated antitrust laws by conspiring to artificially inflate foreign ATM fees that were ultimately charged to ATM cardholders. Plaintiffs seek a declaratory judgment, injunctive relief, compensatory damages, attorneys’ fees, costs and such other relief as the nature of the case may require or as may seem just and proper to the court. Similar suits were filed and served in July, August and October 2004 (referred to collectively as the “ATM Fee Antitrust Litigation”). The Court granted judgment in favor of the defendants, dismissing the case on September 17, 2010. On October 14, 2010, the plaintiffs appealed the summary judgment. On July 12, 2012, the United States Court of Appeals for the Ninth Circuit affirmed the Northern District Court of California’s dismissal of all the claims against the defendants. On July 26, 2012, the plaintiffs petitioned the Ninth Circuit for rehearing en banc. The Company continues to believe the complaints are without merit and intends to vigorously defend them. | ||||||
There are asserted claims against the Company where an unfavorable outcome is considered to be reasonably possible. These claims can generally be categorized in the following areas: (1) patent infringement which results from claims that the Company is using technology that has been patented by another party; (2) Merchant customer matters often associated with alleged processing errors or disclosure issues and claims that one of the subsidiaries of the Company has violated a federal or state requirement regarding credit reporting or collection in connection with its check verification guarantee, and collection activities; and (3) other matters which may include issues such as employment. The Company’s estimates of the possible ranges of losses in excess of any amounts accrued are $0 to $6 million for patent infringement, $0 to $75 million for merchant customer matters and $0 to $4 million for other matters, resulting in a total estimated range of possible losses of $0 to $85 million for all of the matters described above. | ||||||
The estimated range of reasonably possible losses is based on currently available information and involves elements of judgment and significant uncertainties. As additional information becomes available and the resolution of the uncertainties becomes more apparent, it is possible that actual losses may exceed even the high end of the estimated range. | ||||||
Other | ||||||
In the normal course of business, the Company is subject to claims and litigation, including indemnification obligations to purchasers of former subsidiaries. Management of the Company believes that such matters will not have a material adverse effect on the Company’s results of operations, liquidity or financial condition. | ||||||
As discussed in Note 3 of these Consolidated Financial Statements, during the year ended December 31, 2012, contingent consideration was recorded related to the acquisition of Clover Network, Inc. The transaction called for cash consideration as well as a series of contingent payments based on the achievement of specified sales targets. These contingent payments are classified as purchase consideration if made to outside investors and compensation if made to current and future employees. As part of the purchase price, the Company recorded a $20 million liability for the contingent consideration due to outside investors based upon the net present value of the Company’s estimate of the future payments. | ||||||
Also during the year ended December 31, 2012, contingent consideration was recorded related to a small divestiture. The transaction called for a series of contingent payments based on revenue over three years. As part of the sale price, the Company recorded a $14 million asset for the contingent consideration due based upon the net present value of the Company’s estimate of future receipts from the buyer. | ||||||
Employee_Benefit_Plans1
Employee Benefit Plans | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||
Employee Benefit Plans | ' | ' | ||||||||||||||||||||||||||
Employee Benefit Plans | ' | ' | ||||||||||||||||||||||||||
Note 8: Employee Benefit Plans | Note 14: Employee Benefit Plans | |||||||||||||||||||||||||||
The following table provides the components of net periodic benefit expense (income) for the Company’s defined benefit pension plans: | Defined Contribution Plans | |||||||||||||||||||||||||||
Three months ended | Nine months ended | FDC maintains defined contribution savings plans covering virtually all of the Company’s U.S. employees and defined contribution pension plans for international employees primarily in the United Kingdom and Australia. The plans provide tax-deferred amounts for each participant, consisting of employee elective contributions, Company matching and discretionary Company contributions. | ||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | The following table presents the aggregate amounts charged to expense in connection with these plans: | |||||||||||||||||||||||
Service costs | $ | 0.6 | $ | 0.7 | $ | 1.9 | $ | 2.1 | ||||||||||||||||||||
Interest costs | 9.3 | 9.3 | 28 | 27.8 | Year ended December 31, | Amount | ||||||||||||||||||||||
Expected return on plan assets | (10.9 | ) | (11.1 | ) | (32.8 | ) | (33.4 | ) | (in millions) | |||||||||||||||||||
Amortization | 0.9 | 0.4 | 2.7 | 1.3 | 2012 | $ | 45.2 | |||||||||||||||||||||
Net periodic benefit expense (income) | $ | (0.1 | ) | $ | (0.7 | ) | $ | (0.2 | ) | $ | (2.2 | ) | 2011 | 42.7 | ||||||||||||||
2010 | 41.1 | |||||||||||||||||||||||||||
The Company estimates pension plan contributions for 2013 to be approximately $36 million. During the nine months ended September 30, 2013, approximately $22 million was contributed to the United Kingdom plan and approximately $7 million was contributed to the U.S. plan. | ||||||||||||||||||||||||||||
Defined Benefit Plans | ||||||||||||||||||||||||||||
The Company has a defined benefit pension plan which is frozen and covers certain full-time employees in the U.S. The Company also has separate plans covering certain employees located primarily in the United Kingdom, Germany, Greece and Austria. | ||||||||||||||||||||||||||||
In December 2011, the Company received judicial confirmation that a change in U.K. law restricted the Company’s ability to eliminate the effects of future compensation increases on the plan’s benefits associated with a curtailment recorded in 2009. As a result, benefits related to future compensation increases were reinstated but the plan remained frozen to benefit accruals related to length of service and all other factors. The Company recorded a loss of approximately $7 million, net of income taxes, in other comprehensive income in 2011. In December 2012, the Company initiated actions to freeze the plan benefits related to future salary increases subject to participant approval. The Company expects to record a curtailment gain in other comprehensive income in 2013. | ||||||||||||||||||||||||||||
The Company uses December 31 as the measurement date for its plans. | ||||||||||||||||||||||||||||
The following table provides a reconciliation of the changes in the plans’ projected benefit obligations and fair value of assets for the years ended December 31, 2012 and 2011, as well as a statement of the funded status as of the respective period ends. | ||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | ||||||||||||||||||||||||||
Change in benefit obligation | ||||||||||||||||||||||||||||
Benefit obligation at beginning of period | $ | 798.5 | $ | 725.9 | ||||||||||||||||||||||||
Service costs | 5 | 6.1 | ||||||||||||||||||||||||||
Interest costs | 37.7 | 39.8 | ||||||||||||||||||||||||||
U.K. plan benefit reinstatement | — | 10.9 | ||||||||||||||||||||||||||
Actuarial (gain)/loss | 79 | 35.7 | ||||||||||||||||||||||||||
Termination benefits (a) | 0.1 | 0.9 | ||||||||||||||||||||||||||
Benefits paid | (29.8 | ) | (27.5 | ) | ||||||||||||||||||||||||
Foreign currency translation | 18.6 | 6.7 | ||||||||||||||||||||||||||
Benefit obligation at end of period | 909.1 | 798.5 | ||||||||||||||||||||||||||
Change in plan assets | ||||||||||||||||||||||||||||
Fair value of plan assets at the beginning of period | 721.1 | 656.3 | ||||||||||||||||||||||||||
Actual return on plan assets | 61 | 53.9 | ||||||||||||||||||||||||||
Company contributions | 31.6 | 29.9 | ||||||||||||||||||||||||||
Benefits paid | (26.4 | ) | (25.7 | ) | ||||||||||||||||||||||||
Foreign currency translation | 18.5 | 6.7 | ||||||||||||||||||||||||||
Fair value of plan assets at end of period | 805.8 | 721.1 | ||||||||||||||||||||||||||
Funded status of the plans | $ | (103.3 | ) | $ | (77.4 | ) | ||||||||||||||||||||||
(a) Related to restructuring activities in Europe. | ||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | ||||||||||||||||||||||||||
U.K. plan: | ||||||||||||||||||||||||||||
Plan benefit obligations | $ | (659.5 | ) | $ | (574.7 | ) | ||||||||||||||||||||||
Fair value of plan assets | 658.3 | 588.4 | ||||||||||||||||||||||||||
Net pension (liabilities) assets (a) (b) | (1.2 | ) | 13.7 | |||||||||||||||||||||||||
U.S. and other foreign plans: | ||||||||||||||||||||||||||||
Plan benefit obligations | (249.6 | ) | (223.8 | ) | ||||||||||||||||||||||||
Fair value of plan assets | 147.5 | 132.7 | ||||||||||||||||||||||||||
Net pension liabilities (b) | $ | (102.1 | ) | $ | (91.1 | ) | ||||||||||||||||||||||
Funded status of the plans | $ | (103.3 | ) | $ | (77.4 | ) | ||||||||||||||||||||||
(a) Pension assets are included in the “Other long-term assets” line of the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
(b) Pension liabilities are included in the “Other long-term liabilities” line of the Consolidated Balance Sheets. | ||||||||||||||||||||||||||||
The accumulated benefit obligation for all defined benefit pension plans was $896.7 million and $786.8 million as of December 31, 2012 and 2011, respectively. | ||||||||||||||||||||||||||||
The following table summarizes the activity in other comprehensive income, net of tax: | ||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
Total unrecognized gain/(loss) included in other comprehensive income at the beginning of period | $ | (88.8 | ) | $ | (64.9 | ) | $ | (93.4 | ) | |||||||||||||||||||
Unrecognized gain/(loss) arising during the period | (39.9 | ) | (17.7 | ) | 27.1 | |||||||||||||||||||||||
U.K. plan benefit reinstatement | — | (7.0 | ) | — | ||||||||||||||||||||||||
Amortization of deferred gains/(losses) to net periodic benefit expense (a) | 1.3 | 0.8 | 1.4 | |||||||||||||||||||||||||
Total unrecognized gain/(loss) included in other comprehensive income at end of period | $ | (127.4 | ) | $ | (88.8 | ) | $ | (64.9 | ) | |||||||||||||||||||
(a) Expected amortization of deferred losses to net periodic benefit expense in 2013 is $4.0 million pretax. | ||||||||||||||||||||||||||||
Amounts recorded in other comprehensive income represent unrecognized net actuarial gains and losses. The Company does not have net transition assets or obligations. | ||||||||||||||||||||||||||||
The following table provides the components of net periodic benefit cost for the plans: | ||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||
Service costs | $ | 5 | $ | 6.1 | $ | 3.1 | ||||||||||||||||||||||
Interest costs | 37.7 | 39.8 | 40 | |||||||||||||||||||||||||
Expected return on plan assets | (44.7 | ) | (46.5 | ) | (40.4 | ) | ||||||||||||||||||||||
Amortization | 2.1 | 1.3 | 2.2 | |||||||||||||||||||||||||
Net periodic benefit expense | $ | 0.1 | $ | 0.7 | $ | 4.9 | ||||||||||||||||||||||
Assumptions. The weighted-average rate assumptions used in the measurement of the Company’s benefit obligations are as follows: | ||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||||
Discount rate | 4.29 | % | 4.75 | % | 5.4 | % | ||||||||||||||||||||||
Rate of compensation increase (a) | 3.95 | % | 3.77 | % | 4 | % | ||||||||||||||||||||||
(a) The rate of compensation increases generally apply to active plans. | ||||||||||||||||||||||||||||
The weighted-average rate assumptions used in the measurement of the Company’s net cost are as follows: | ||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||||
Discount rate | 4.71 | % | 5.21 | % | 5.55 | % | ||||||||||||||||||||||
Expected long-term return on plan assets | 6.11 | % | 6.83 | % | 6.86 | % | ||||||||||||||||||||||
Rate of compensation increase (a) | 3.6 | % | 4.24 | % | 4 | % | ||||||||||||||||||||||
(a) The rate of compensation increases generally apply to active plans. | ||||||||||||||||||||||||||||
Assumptions for the U.S. plans and the foreign plans are comparable in all of the above periods. The Company employs a building block approach in determining the long-term rate of return for plan assets with proper consideration of diversification and re-balancing. Historical markets are studied and long-term historical relationships between equities and fixed-income securities are preserved consistent with the widely accepted capital market principle that assets with higher volatility generate a greater return over the long run. Current market factors such as inflation and interest rates are evaluated before long-term capital market assumptions are determined. Peer data and historical returns are reviewed to check for reasonableness and appropriateness. All assumptions are the responsibility of management. | ||||||||||||||||||||||||||||
Plan assets. The Company’s pension plan target asset allocation, based on the investment policy as of December 31, 2012, is as follows: | ||||||||||||||||||||||||||||
Target | Target | |||||||||||||||||||||||||||
allocation | allocation | |||||||||||||||||||||||||||
Asset Category | U.S. plans | Foreign plans | ||||||||||||||||||||||||||
Equity securities | 40 | % | 60 | % | ||||||||||||||||||||||||
Debt securities | 60 | % | 40 | % | ||||||||||||||||||||||||
The Company employs a total return investment approach whereby a mix of equities and fixed income investments are used to maximize the long-term return of plan assets for a prudent level of risk. Risk tolerance is established through careful consideration of plan liabilities and plan funded status. The investment portfolio contains a diversified blend of equity and fixed-income investments. Furthermore, equity investments are diversified across U.S. and global equity investments. In addition, private equity securities comprise a very small part of the equity allocation. The fixed income allocation is a combination of fixed income investment strategies designed to contribute to the total rate of return of all plan assets while minimizing risk and supporting the duration of plan liabilities. | ||||||||||||||||||||||||||||
Investment risk is measured and monitored on an ongoing basis through quarterly investment portfolio reviews, annual liability measurements, and periodic asset and liability studies. The general philosophy of the Benefit Committee in setting the allocation percentages for the domestic plan shown above is to adhere to the appropriate allocation mix necessary to support the underlying plan liabilities as influenced significantly by the demographics of the participants and the frozen nature of the plan. | ||||||||||||||||||||||||||||
The goal of the Board of Trustees of the United Kingdom plan is the acquisition of secure assets of appropriate liquidity which are expected to generate income and capital growth to meet, together with new contributions from the Company, the cost of current and future benefits, as set out in the Trust Deed and Rules. The Trustees, together with the plan’s consultants and actuaries, further design the asset allocation shown above to limit the risk of the assets failing to meet the liabilities over the long term. Currently the equity allocation is diversified amongst both United Kingdom and non-United Kingdom equities from North America, Europe, Japan and Asia Pacific. A small portion is allocated to other global emerging market equity securities. Fixed income is allocated primarily to United Kingdom government bond securities with the remaining portion in investment-grade corporate bonds. | ||||||||||||||||||||||||||||
Fair value measurements. Financial instruments included in plan assets carried and measured at fair value on a recurring basis are classified in the table below according to the hierarchy described in Note 7 of these Consolidated Financial Statements: | ||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||||||||||||||
(in millions) | Quoted prices in | Significant other | Significant | Total | ||||||||||||||||||||||||
active markets | observable | unobservable | ||||||||||||||||||||||||||
for identical assets | inputs | inputs | ||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
Investments: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 0.6 | $ | — | $ | — | $ | 0.6 | ||||||||||||||||||||
Registered investment companies: | ||||||||||||||||||||||||||||
Cash management fund | 1.8 | — | — | 1.8 | ||||||||||||||||||||||||
Equity funds | 58.8 | — | — | 58.8 | ||||||||||||||||||||||||
Fixed income securities | — | 42.6 | — | 42.6 | ||||||||||||||||||||||||
Private investment funds—redeemable (a) | — | 698.6 | — | 698.6 | ||||||||||||||||||||||||
Private investment funds—non-redeemable | — | — | 0.1 | 0.1 | ||||||||||||||||||||||||
Insurance annuity contracts | — | — | 3.3 | 3.3 | ||||||||||||||||||||||||
Total investments at fair value | $ | 61.2 | $ | 741.2 | $ | 3.4 | $ | 805.8 | ||||||||||||||||||||
(a) 42% of portfolio is invested in equity index funds, 57% in fixed income investments and 1% in other investments. | ||||||||||||||||||||||||||||
As of December 31, 2011 | ||||||||||||||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||||||||||||||
(in millions) | Quoted prices in | Significant other | Significant | Total | ||||||||||||||||||||||||
active markets | observable | unobservable | ||||||||||||||||||||||||||
for identical assets | inputs | inputs | ||||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
Investments: | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 3.2 | $ | — | $ | — | $ | 3.2 | ||||||||||||||||||||
Registered investment companies: | ||||||||||||||||||||||||||||
Cash management fund | 1 | — | — | 1 | ||||||||||||||||||||||||
Equity funds | 49.1 | — | — | 49.1 | ||||||||||||||||||||||||
Fixed income funds | 14.2 | — | — | 14.2 | ||||||||||||||||||||||||
Fixed income securities | — | 35.1 | — | 35.1 | ||||||||||||||||||||||||
Private investment funds—redeemable (a) | — | 613.1 | — | 613.1 | ||||||||||||||||||||||||
Private investment funds—non- redeemable | — | — | 1 | 1 | ||||||||||||||||||||||||
Insurance annuity contracts | — | — | 4.4 | 4.4 | ||||||||||||||||||||||||
Total investments at fair value | $ | 67.5 | $ | 648.2 | $ | 5.4 | $ | 721.1 | ||||||||||||||||||||
(a) 46% of portfolio is invested in equity index funds and 54% in fixed income investments. | ||||||||||||||||||||||||||||
Fair Value Measurement Using Significant | ||||||||||||||||||||||||||||
Unobservable Inputs (Level 3) | ||||||||||||||||||||||||||||
(in millions) | Insurance | Private investment funds | ||||||||||||||||||||||||||
annuity contracts | non-redeemable | |||||||||||||||||||||||||||
Beginning balance as of January 1, 2011 | $ | 4.4 | $ | 0.3 | ||||||||||||||||||||||||
Transfer in from level 2 (a) | — | 1.4 | ||||||||||||||||||||||||||
Settlements | — | (0.7 | ) | |||||||||||||||||||||||||
Ending balance as of December 31, 2011 | 4.4 | 1 | ||||||||||||||||||||||||||
Actual return on plan assets | — | 0.1 | ||||||||||||||||||||||||||
Settlements | (1.1 | ) | (1.0 | ) | ||||||||||||||||||||||||
Ending balance as of December 31, 2012 | $ | 3.3 | $ | 0.1 | ||||||||||||||||||||||||
(a) The plans value transfers into Level 3 utilizing values as of the beginning of the period. | ||||||||||||||||||||||||||||
Registered investment companies. The Company’s domestic plan has investments in shares of mutual funds, primarily large cap, international and global equity funds, that are registered with the Securities and Exchange Commission. Prices of these funds are based on Net Asset Values (“NAV”) calculated by the funds and are publicly reported on national exchanges. The plan measures fair value of these investments using the NAV provided by the fund managers. | ||||||||||||||||||||||||||||
Fixed income securities. The Company’s domestic plan has investments in several fixed income securities, primarily corporate bonds. The bonds were valued under a market approach using observable inputs including reported trades, benchmark yields, broker/dealer quotes, issuer spreads and other standard inputs. | ||||||||||||||||||||||||||||
Private investment funds—redeemable. The Company’s domestic and United Kingdom plans are invested in shares or units of several private investment funds, not the underlying assets. Redeemable private investment funds include collective trusts, comingled funds, pooled funds, limited partnerships and limited liability corporations. The funds calculate NAV on a periodic basis and are available only from the fund managers. Private investment funds are redeemable at the NAV. | ||||||||||||||||||||||||||||
Private investment funds—non-redeemable. The Company’s domestic plan has investments in several partnerships (limited partnership and limited liability corporations) for which the plan has a limited ability to redeem or transfer its interests; therefore, there is an illiquid market in which the plan can exit these investments. As a result, the plan measures fair value of these investments using estimates of fair value which come from partner capital statements provided by the partnerships. | ||||||||||||||||||||||||||||
Insurance annuity contracts. The Company’s United Kingdom Plan is invested in several insurance annuity contracts. The value of these contracts is calculated by estimating future payments and discounting them to present value. As a result, there is no market for the Plan to exit these investments. | ||||||||||||||||||||||||||||
Contributions. Contributions to the plans in 2013 are expected to be approximately $42 million. | ||||||||||||||||||||||||||||
The estimated future benefit payments, which reflect expected future service, are expected to be as follows: | ||||||||||||||||||||||||||||
Year ended December 31, | Amount | |||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||
2013 | $ | 26.4 | ||||||||||||||||||||||||||
2014 | 27.3 | |||||||||||||||||||||||||||
2015 | 29.3 | |||||||||||||||||||||||||||
2016 | 32.1 | |||||||||||||||||||||||||||
2017 | 33.6 | |||||||||||||||||||||||||||
2018-2022 | 199.6 | |||||||||||||||||||||||||||
The Company’s post-retirement health care and other insurance benefits for retired employees are limited and immaterial. | ||||||||||||||||||||||||||||
Stock_Compensation_Plans1
Stock Compensation Plans | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
Stock Compensation Plans | ' | ' | |||||||||||||||||||||||
Stock Compensation Plans | ' | ' | |||||||||||||||||||||||
Note 9: Stock Compensation Plans | |||||||||||||||||||||||||
Note 13: Stock Compensation Plans | |||||||||||||||||||||||||
The Company defers recognition of substantially all of the stock-based compensation expense related to stock options and non-vested restricted stock awards and units. Due to the nature of call rights associated with stock options, the Company will recognize expense related to most options only upon certain liquidity or employment termination events. The nature of the call rights associated with stock options creates a performance condition that is not considered probable until the occurrence of one of the events described above. The call rights create a performance condition as they allow the Company to repurchase options at the lesser of the fair value or the exercise price upon an option holder’s voluntary termination. | |||||||||||||||||||||||||
The Company's parent, Holdings, has a stock incentive plan for certain management employees of FDC and its affiliates ("stock plan"). The stock plan provides the opportunity for certain management employees to purchase shares in Holdings and then receive a number of options or restricted stock based on a multiple of their investment in such shares. The plan also allows for the Company to award shares and options to management employees. The participants of the stock plan enter into a management stockholders' agreement. Principal terms of the management stockholders' agreement include restrictions on transfers, lock ups, right of first refusal, registration rights, and a confidentiality, non-solicitation and non-compete covenant. The expense associated with this plan is recorded by FDC. The number of shares authorized under the stock plan is 119.5 million, 83 million of which are authorized for options. | |||||||||||||||||||||||||
Stock-based compensation expense will be recognized related to certain restricted stock awards and units only upon a liquidity or employment termination event which triggers vesting. For the remaining awards that vest based solely on service conditions, expense is recognized over the requisite service period. | |||||||||||||||||||||||||
The participants of the stock plan have the right to require Holdings to repurchase the shares and options upon the employee's termination due to death or disability. The put rights expire one year after the termination event or upon a change in control. The repurchase price for the shares is their fair market value at the time of repurchase. The repurchase price for the options is their intrinsic value at the time of repurchase. | |||||||||||||||||||||||||
Under certain circumstances, the Company redeems common stock held by its employees on behalf of its Parent Company First Data Holding Inc. (“Holdings”). | |||||||||||||||||||||||||
Total stock-based compensation expense recognized in the "Selling, general and administrative" line item of the Consolidated Statements of Operations resulting from stock options, non-vested restricted stock awards and non-vested restricted stock units was as follows: | |||||||||||||||||||||||||
Total stock-based compensation expense recognized in the “Selling, general and administrative” line item of the Consolidated Statements of Operations was as follows: | |||||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | Amount | ||||||||||||||||||||||
September 30, | September 30, | (in millions) | |||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | 2012 | $ | 12.4 | ||||||||||||||||||
Total stock-based compensation expense (pretax) | $ | 5.5 | $ | 3.6 | $ | 37.1 | $ | 10.9 | 2011 | 17.6 | |||||||||||||||
2010 | 17.1 | ||||||||||||||||||||||||
During the nine months ended September 30, 2013, approximately $20 million of stock-based compensation expense was recognized as a result of granting an executive officer shares of common stock of Holdings and fully vested restricted stock units. | The Company has a deferred compensation plan for non-employee directors that allows each of these directors to defer their annual compensation. The plan is unfunded. For purposes of determining the investment return on the deferred compensation, each director's account is treated as if credited with a number of shares of Holdings stock determined by dividing the deferred compensation amount by the first Board approved fair value of the stock during the year. The account balance will be paid in cash upon termination of Board service, certain liquidity events or other certain events at the fair value of the stock at the time of settlement. Due to the cash settlement provisions, the account balances are recorded as a liability and are adjusted to fair value quarterly. As of December 31, 2012, the balance of this liability was $0.8 million. | ||||||||||||||||||||||||
Stock Options | Stock Options | ||||||||||||||||||||||||
During the nine months ended September 30, 2013 time-based options were granted under the stock plan. The time-based options granted generally vest equally over a three to five year period. | During the years ended December 31, 2012, 2011 and 2010, time-based options were granted under the stock plan and during the years ended December 31, 2011 and 2010, performance-based options were granted under the stock plan. The time-based options and performance-based options have a contractual term of 10 years. Time-based options vest equally over a three to five year period from the date of issuance and performance-based options vest based upon the Company achieving certain EBITDA targets. The options also have certain accelerated vesting provisions that become effective upon a change in control, a qualified public offering, or certain termination events. | ||||||||||||||||||||||||
As of September 30, 2013 there was approximately $178 million of total unrecognized compensation expense related to non-vested stock options. Approximately $3 million will be recognized over a period of approximately one year while approximately $175 million will only be recognized upon the occurrence of certain liquidity or employment termination events. | In May 2010, the Company modified the terms of time-based options and substantially all performance-based options outstanding under the stock plan. The modifications only affected active employees as of the modification date. The exercise price on previously granted time-based options was reduced from $5 to $3. The Company is continuing to recognize expense on these options based on the original grant date fair value amortized over the remaining original vesting schedule. Subsequent to the modification, due to the nature of the call rights associated with the time-based options, which expire 180 days after certain employment termination events or the latter of September 24, 2012 or a qualified public offering, the incremental stock option fair value from the change in exercise price and the total fair value of time-based options issued since the modification date will only be recognized upon the occurrence of such events. Prior to the modifications, the call rights expired 180 days after certain employment termination events or the earlier of September 24, 2012 or a change in control. In addition, substantially all outstanding performance-based options were cancelled and reissued. The reissued performance-based options have an exercise price of $3 and a tiered vesting schedule that provides for vesting of 25%, 75% or 100% of the options if the Company achieves certain EBITDA targets in any fiscal year between January 1, 2010 and December 31, 2013. The performance-based options have the same call rights as the time-based options described above. Due to the call rights, the Company will only recognize expense on the performance-based options upon certain employment termination events or the latter of September 24, 2012 or a qualified public offering. In conjunction with the above noted modifications, stock plan participants also received a cash bonus payment in the second quarter of 2010 totaling $7.8 million. | ||||||||||||||||||||||||
The fair value of Holdings stock options granted for the nine months ended September 30, 2013 were estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions: | The nature of the call rights associated with stock options described above creates a performance condition that is not considered probable until the occurrence of one of the events described above. The call rights create a performance condition as they allow the Company to repurchase options at the lesser of the fair value or the exercise price upon an option holder's voluntary termination. | ||||||||||||||||||||||||
Nine months ended | As of December 31, 2012 there was approximately $99 million of total unrecognized compensation expense related to non-vested stock options. Approximately $5 million will be recognized over a period of approximately two years while approximately $94 million will only be recognized upon a qualified public offering or certain liquidity or employment termination events. | ||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
Risk-free interest rate | 1.38 | % | During 2012, 2011, and 2010, Holdings paid $3.1 million, $2.9 million, and $21.9 million, respectively, to repurchase shares from employees that terminated employment with the Company. | ||||||||||||||||||||||
Dividend yield | — | ||||||||||||||||||||||||
Volatility | 56.64 | % | The fair value of Holdings stock options granted for the years ended December 31, 2012, 2011 and 2010 were estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions (excluding the effect of stock plan modifications): | ||||||||||||||||||||||
Expected term (in years) | 7 | ||||||||||||||||||||||||
Fair value of stock | $ | 3.5 | |||||||||||||||||||||||
Fair value of options | $ | 1.99 | Year ended December 31, | ||||||||||||||||||||||
2012 | 2011 | 2010 | |||||||||||||||||||||||
A summary of Holdings stock option activity for the nine months ended September 30, 2013 is as follows: | Risk-free interest rate | 1.45 | % | 2.86 | % | 3.03 | % | ||||||||||||||||||
Dividend yield | — | — | — | ||||||||||||||||||||||
(options in millions) | Options | Weighted-Average | Volatility | 51.77 | % | 54.65 | % | 51.4 | % | ||||||||||||||||
Exercise Price | Expected term (in years) | 7 | 7 | 7 | |||||||||||||||||||||
Outstanding at January 1, 2013 | 77.6 | $ | 3 | Fair value of stock(a) | $ | 3 | $ | 3 | $ | 3 | |||||||||||||||
Granted | 50.2 | $ | 3.5 | Fair value of options | $ | 1.6 | $ | 1.73 | $ | 1.66 | |||||||||||||||
Exercised | (5.5 | ) | $ | 3 | |||||||||||||||||||||
Cancelled / Forfeited | (8.3 | ) | $ | 3.02 | |||||||||||||||||||||
Outstanding at September 30, 2013 | 114 | $ | 3.22 | (a) | |||||||||||||||||||||
Options exercisable as of September 30, 2013 | 30.3 | $ | 3.02 | The fair value of the stock increased from $3.00 to $3.50 effective March 31, 2012. | |||||||||||||||||||||
Restricted Stock Awards and Restricted Stock Units | Risk-free interest rate—The risk-free rate for stock options granted during the period was determined by using a zero-coupon U.S. Treasury rate for the periods that coincided with the expected terms listed above. | ||||||||||||||||||||||||
Restricted stock awards were granted under the stock plan during the nine months ended September 30, 2013. As of September 30, 2013, there was approximately $58 million of total unrecognized compensation expense, net of estimated forfeitures, related to restricted stock. Approximately $4 million will be recognized over a period of approximately two years while approximately $54 million will only be recognized upon the occurrence of certain liquidity or employment termination events. | Expected dividend yield—No routine dividends are currently being paid by Holdings, or are expected to be paid in future periods. | ||||||||||||||||||||||||
A summary of Holdings restricted stock award and restricted stock unit activity for the nine months ended September 30, 2013 is as follows: | Expected volatility—As Holdings is a non-publicly traded company, the expected volatility is based on the historical volatilities of a group of guideline companies. | ||||||||||||||||||||||||
(awards/units in millions) | Awards/Units | Weighted-Average | Expected term—The Company estimated the expected term by considering the historical exercise and termination behavior of employees that participated in the Company's previous equity plans, the vesting conditions of options granted under the stock plan, as well as the impact of limited liquidity for common stock of a non-publicly traded company. | ||||||||||||||||||||||
Grant-Date Fair | |||||||||||||||||||||||||
Value | Fair value of stock—The Company relied in part upon a third-party valuation firm in determining the fair value of Holdings stock. All key assumptions and valuations were determined by and are the responsibility of management. | ||||||||||||||||||||||||
Non-vested at January 1, 2013 | 13.6 | $ | 3 | ||||||||||||||||||||||
Granted | 9.6 | $ | 3.5 | A summary of Holdings stock option activity for the year ended December 31, 2012 is as follows: | |||||||||||||||||||||
Vested | (3.1 | ) | $ | 3.23 | |||||||||||||||||||||
Cancelled / Forfeited | (1.1 | ) | $ | 3.02 | |||||||||||||||||||||
Non-vested at September 30, 2013 | 19 | $ | 3.21 | (options in millions) | Options | Weighted-Average | Weighted-Average | ||||||||||||||||||
Exercise Price | Remaining | ||||||||||||||||||||||||
Contractual | |||||||||||||||||||||||||
Term | |||||||||||||||||||||||||
Outstanding as of January 1, 2012 | 73 | $ | 3 | ||||||||||||||||||||||
Granted | 8 | $ | 3 | ||||||||||||||||||||||
Exercised | (0.4 | ) | $ | 3.5 | |||||||||||||||||||||
Cancelled / Forfeited | (3.0 | ) | $ | 3 | |||||||||||||||||||||
Outstanding as of December 31, 2012 | 77.6 | $ | 3 | 7 years | |||||||||||||||||||||
Options exercisable as of December 31, 2012 | 27.5 | $ | 3 | 6 years | |||||||||||||||||||||
The total intrinsic value and amount paid related to stock options exercised during the twelve months ended December 31, 2012 was $0.2 million and no shares were exercised during 2011 or 2010. | |||||||||||||||||||||||||
Restricted Stock Awards and Restricted Stock Units | |||||||||||||||||||||||||
Restricted stock awards were granted under the stock plan during 2012, 2011 and 2010. Grants were made as incentive awards. The restrictions on the awards granted subsequent to the modifications described above will lapse upon a qualified public offering, a change in control or certain employment termination or liquidity events. As such, the Company is not recognizing expense on awards granted subsequent to the modifications described above. The Company is continuing to recognize expense on the restricted stock awards granted prior to the modifications described above based on the original grant date fair value amortized over the remaining original vesting schedule. As of December 31, 2012 there was approximately $41 million of total unrecognized compensation expense related to restricted stock. Approximately $0.1 million will be recognized over a period of approximately two years with the remainder recognized upon the occurrence of certain liquidity or employment termination events. | |||||||||||||||||||||||||
During 2012, 2011, and 2010, the Company paid $1.5 million, $0.5 million, and $2.5 million, respectively, to repurchase stock awards from employees that terminated employment with the Company. | |||||||||||||||||||||||||
A summary of Holdings restricted stock award and restricted stock unit activity for the year ended December 31, 2012 is as follows: | |||||||||||||||||||||||||
(awards/units in millions) | Awards/Units | Weighted-Average | |||||||||||||||||||||||
Grant-Date Fair Value | |||||||||||||||||||||||||
Non-vested as of January 1, 2012 | 10.9 | $ | 3.14 | ||||||||||||||||||||||
Granted | 4 | $ | 3 | ||||||||||||||||||||||
Vested | (0.7 | ) | $ | 4.74 | |||||||||||||||||||||
Cancelled / Forfeited | (0.6 | ) | $ | 3.16 | |||||||||||||||||||||
Non-vested as of December 31, 2012 | 13.6 | $ | 3 | ||||||||||||||||||||||
The total fair value of shares vested (measured as of the date of vesting) during the twelve months ended December 31, 2012, 2011 and 2010 was $2.5 million, $0.5 million, and $2.4 million, respectively. | |||||||||||||||||||||||||
Investment_Securities1
Investment Securities | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||
Investment Securities | ' | ' | ||||||||||||||||||||||||||||||||||||||
Investment Securities | ' | ' | ||||||||||||||||||||||||||||||||||||||
Note 10: Investment Securities | ||||||||||||||||||||||||||||||||||||||||
Note 5: Investment Securities | ||||||||||||||||||||||||||||||||||||||||
The majority of the Company’s investment securities are a component of settlement assets and represent the investment of funds received by the Company from prior sales of payment instruments (official checks and financial institution money orders) by authorized agents. The Company’s investment securities, excluding those classified as cash equivalents, within current settlement assets primarily consisted of municipal obligations as of September 30, 2013 and December 31, 2012. The Company’s long-term settlement assets were primarily comprised of student loan auction rate securities (“SLARS”) and municipal obligations as of September 30, 2013 and December 31, 2012. Realized gains and losses and other-than-temporary impairments (“OTTI”) on investments classified as settlement assets are recorded in the “Product sales and other” line item of the Consolidated Statements of Operations. The Company carried other investments, primarily cost method investments, which are included in the “Other current assets” and “Other long-term assets” line items of the Consolidated Balance Sheets and are discussed further below. Realized gains and losses on these investments are recorded in the “Other income (expense)” line item of the Consolidated Statements of Operations described in Note 2 of these Consolidated Financial Statements. | ||||||||||||||||||||||||||||||||||||||||
The majority of the Company's investment securities are a component of settlement assets and represent the investment of funds received by the Company from prior sales of payment instruments (official checks and financial institution money orders) by authorized agents. The Company's investment securities, excluding those classified as cash equivalents, within current settlement assets primarily consisted of municipal obligations as of December 31, 2012 and of municipal obligations and corporate bonds as of December 31, 2011. The Company's long-term settlement assets were primarily comprised of student loan auction rate securities ("SLARS") as of December 31, 2012 and of SLARS and U.S. Government guaranteed securities as of December 31, 2011. Realized gains and losses and OTTI on investments classified as settlement assets are recorded in the "Product sales and other" line item of the Consolidated Statements of Operations. The Company carried other investments, primarily cost method investments, which are included in the "Other current assets" and "Other long-term assets" line items of the Consolidated Balance Sheets and are discussed further below. Realized gains and losses on these investments are recorded in the "Other income (expense)" line item of the Consolidated Statements of Operations described in Note 9 of these Consolidated Financial Statements. | ||||||||||||||||||||||||||||||||||||||||
The principal components of the Company’s investment securities are as follows: | ||||||||||||||||||||||||||||||||||||||||
The principal components of the Company's investment securities are as follows: | ||||||||||||||||||||||||||||||||||||||||
(in millions) | Cost (a) | Gross | Gross | OTTI Recognized | Fair | |||||||||||||||||||||||||||||||||||
Unrealized | Unrealized | in | Value (d) | |||||||||||||||||||||||||||||||||||||
Gain | (Loss) excluding | OCI (b)(c) | (in millions) | Cost(a) | Gross | Gross | OTTI Recognized in | Fair | ||||||||||||||||||||||||||||||||
OTTI (b) | Unrealized | Unrealized | OCI(b)/(c) | Value(d) | ||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | Gain | (Loss) excluding | ||||||||||||||||||||||||||||||||||||||
Student loan auction rate securities | $ | 12.8 | $ | 0.8 | $ | — | $ | — | $ | 13.6 | OTTI(b) | |||||||||||||||||||||||||||||
Corporate bonds | 6.1 | — | — | — | 6.1 | As of December 31, 2012 | ||||||||||||||||||||||||||||||||||
State and municipal obligations | 57.3 | — | — | — | 57.3 | Student loan auction rate securities | $ | 37.6 | $ | 1.2 | $ | — | $ | — | $ | 38.8 | ||||||||||||||||||||||||
Preferred stock | 0.1 | 1.9 | — | — | 2 | Corporate bonds | 6.6 | — | — | — | 6.6 | |||||||||||||||||||||||||||||
Total available-for-sale securities | 76.3 | 2.7 | — | — | 79 | State and municipal obligations | 134.5 | — | (0.1 | ) | — | 134.4 | ||||||||||||||||||||||||||||
Cost method investments | 9.1 | — | — | — | 9.1 | Other | 0.1 | 0.5 | — | — | 0.6 | |||||||||||||||||||||||||||||
Totals | $ | 85.4 | $ | 2.7 | $ | — | $ | — | $ | 88.1 | ||||||||||||||||||||||||||||||
Total available-for-sale securities | 178.8 | 1.7 | (0.1 | ) | — | 180.4 | ||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
Student loan auction rate securities | $ | 37.6 | $ | 1.2 | $ | — | $ | — | $ | 38.8 | Cost method investments | 13.4 | — | — | — | 13.4 | ||||||||||||||||||||||||
Corporate bonds | 6.6 | — | — | — | 6.6 | |||||||||||||||||||||||||||||||||||
State and municipal obligations | 134.5 | — | (0.1 | ) | — | 134.4 | Totals | $ | 192.2 | $ | 1.7 | $ | (0.1 | ) | $ | — | $ | 193.8 | ||||||||||||||||||||||
Preferred stock | 0.1 | 0.5 | — | — | 0.6 | |||||||||||||||||||||||||||||||||||
Total available-for-sale securities | 178.8 | 1.7 | (0.1 | ) | — | 180.4 | As of December 31, 2011 | |||||||||||||||||||||||||||||||||
Cost method investments | 13.4 | — | — | — | 13.4 | Student loan auction rate securities | $ | 169.3 | $ | 1.2 | $ | — | $ | — | $ | 170.5 | ||||||||||||||||||||||||
Totals | $ | 192.2 | $ | 1.7 | $ | (0.1 | ) | $ | — | $ | 193.8 | Corporate bonds | 10.3 | — | (0.1 | ) | — | 10.2 | ||||||||||||||||||||||
State and municipal obligations | 96 | — | — | — | 96 | |||||||||||||||||||||||||||||||||||
(a) Represents amortized cost for debt securities. | U.S. Government guaranteed securities | 10 | — | — | — | 10 | ||||||||||||||||||||||||||||||||||
(b) “OTTI” refers to other-than-temporary impairments. | Other | 0.1 | 0.4 | — | — | 0.5 | ||||||||||||||||||||||||||||||||||
(c) For debt securities, represents the fair value adjustment excluding that attributable to credit losses. | ||||||||||||||||||||||||||||||||||||||||
(d) Represents cost for cost method investments. | Total available-for-sale securities | 285.7 | 1.6 | (0.1 | ) | — | 287.2 | |||||||||||||||||||||||||||||||||
The following table presents the gross unrealized losses and fair value of the Company’s investments with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position: | Cost method investments | 23.7 | — | — | — | 23.7 | ||||||||||||||||||||||||||||||||||
Less than 12 months | More than 12 months | Total | Totals | $ | 309.4 | $ | 1.6 | $ | (0.1 | ) | $ | — | $ | 310.9 | ||||||||||||||||||||||||||
(in millions) | Fair | Unrealized | Fair | Unrealized | Total | Unrealized | ||||||||||||||||||||||||||||||||||
Value | Losses | Value | Losses | Fair Value | Losses | |||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
State and municipal obligations (a) | $ | 45.3 | $ | — | $ | 0.1 | $ | — | $ | 45.4 | $ | (0.1 | ) | (a) | ||||||||||||||||||||||||||
Represents amortized cost for debt securities. | ||||||||||||||||||||||||||||||||||||||||
(a) Unrealized losses less than and greater than 12 months are less than $50,000, respectively. | (b) | |||||||||||||||||||||||||||||||||||||||
"OTTI" refers to other-than-temporary impairments. | ||||||||||||||||||||||||||||||||||||||||
All of the above investments, with the exception of cost method investments, were classified as available-for-sale. The Company uses specific identification to determine the cost of a security sold and the amount of gains and losses reclassified out of other comprehensive income (“OCI”) into the Consolidated Statements of Operations. Unrealized gains and losses on investments carried at fair value are included as a separate component of OCI, net of any related tax effects. | ||||||||||||||||||||||||||||||||||||||||
(c) | ||||||||||||||||||||||||||||||||||||||||
The following table presents additional information regarding available-for-sale securities: | For debt securities, represents the fair value adjustment excluding that attributable to credit losses. | |||||||||||||||||||||||||||||||||||||||
Three months | Nine months | (d) | ||||||||||||||||||||||||||||||||||||||
ended September 30, | ended September 30, | Represents cost for cost method investments. | ||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Proceeds from sales (a) | $ | 91.4 | $ | 104.2 | $ | 257 | $ | 271.9 | The following table presents the gross unrealized losses and fair value of the Company's investments with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position: | |||||||||||||||||||||||||||||||
Purchases | $ | 29.5 | $ | 51.8 | $ | 142.3 | $ | 142.5 | ||||||||||||||||||||||||||||||||
Gross realized gains included in earnings as a result of sales (a) | $ | 0.3 | $ | 1.1 | $ | 1.3 | $ | 4.3 | ||||||||||||||||||||||||||||||||
Net unrealized gains included in OCI, net of tax | $ | 0.3 | $ | — | $ | 2.2 | $ | 2.6 | Less than | More than | ||||||||||||||||||||||||||||||
Net gains reclassified out of OCI into earnings, net of tax | $ | 0.2 | $ | 0.8 | $ | 1.2 | $ | 2.8 | 12 months | 12 months | ||||||||||||||||||||||||||||||
(in millions) | Fair | Unrealized | Fair | Unrealized | Total | Total | ||||||||||||||||||||||||||||||||||
(a) Includes activity resulting from sales, maturities and redemptions. | Value | Losses | Value | Losses | Fair | Unrealized | ||||||||||||||||||||||||||||||||||
Value | Losses | |||||||||||||||||||||||||||||||||||||||
The following table presents maturity information for the Company’s investments in debt securities as of September 30, 2013: | As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||||
State and municipal obligations(a) | $ | 45.3 | $ | — | $ | 0.1 | $ | — | $ | 45.4 | $ | (0.1 | ) | |||||||||||||||||||||||||||
(in millions) | Fair Value | As of December 31, 2011 | ||||||||||||||||||||||||||||||||||||||
Due within one year | $ | 59.8 | Corporate bonds | $ | 10.2 | $ | (0.1 | ) | $ | — | $ | — | $ | 10.2 | $ | (0.1 | ) | |||||||||||||||||||||||
Due after one year through five years | 3.5 | |||||||||||||||||||||||||||||||||||||||
Due after 10 years | 13.7 | |||||||||||||||||||||||||||||||||||||||
Total debt securities | $ | 77 | (a) | |||||||||||||||||||||||||||||||||||||
Unrealized losses less than and greater than 12 months are less than $50,000, respectively. | ||||||||||||||||||||||||||||||||||||||||
The Company also maintained investments in non-marketable securities, held for strategic purposes (collectively referred to as “cost method investments”) which are carried at cost and included in “Other long-term assets” in the Company’s Consolidated Balance Sheets. These investments are evaluated for impairment upon an indicator of impairment such as an event or change in circumstances that may have a significant adverse effect on the fair value of the investment. As of September 30, 2013, there were no indicators of impairment. During the three months ended September 30, 2012, the Company recognized an impairment of $8.7 million related to a cost method investment due to uncertainty regarding the investee’s viability as a going concern. Where there are no indicators of impairment present, the Company estimates the fair value for the cost method investments only if it is practicable to do so. As of September 30, 2013, it was deemed impracticable to estimate the fair value on $3.8 million of cost method assets due to the lack of sufficient data upon which to develop a valuation model and the costs of obtaining an independent valuation in relation to the size of the investments. | ||||||||||||||||||||||||||||||||||||||||
All of the above investments, with the exception of cost method investments, were classified as available-for-sale. The Company uses specific identification to determine the cost of a security sold and the amount of gains and losses reclassified out of OCI into the Consolidated Statements of Operations. Unrealized gains and losses on investments carried at fair value are included as a separate component of OCI, net of any related tax effects. | ||||||||||||||||||||||||||||||||||||||||
The following table presents additional information regarding available-for-sale securities: | ||||||||||||||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||||||||||
Proceeds from sales(a) | $ | 156.6 | $ | 283.2 | $ | 138.1 | ||||||||||||||||||||||||||||||||||
Purchases | $ | 194.1 | $ | 269.7 | $ | 44.4 | ||||||||||||||||||||||||||||||||||
Gross realized gains included in earnings as a result of sales(a) | 4.4 | 3.6 | 6.2 | |||||||||||||||||||||||||||||||||||||
Gross realized (losses) included in earnings as a result of sales(a) | — | (2.9 | ) | (3.3 | ) | |||||||||||||||||||||||||||||||||||
Gross losses included in earnings as a result of impairment(b) | — | (5.2 | ) | (28.2 | ) | |||||||||||||||||||||||||||||||||||
Net unrealized gains or (losses) included in OCI, net of tax | 2.9 | (2.0 | ) | 7.7 | ||||||||||||||||||||||||||||||||||||
Net gains or (losses) reclassified out of OCI into earnings, net of tax | 2.7 | (2.8 | ) | (19.8 | ) | |||||||||||||||||||||||||||||||||||
(a) | ||||||||||||||||||||||||||||||||||||||||
Includes activity resulting from sales, redemptions, liquidations and related matters. | ||||||||||||||||||||||||||||||||||||||||
(b) | ||||||||||||||||||||||||||||||||||||||||
In the fourth quarter of 2010, due to new and existing state laws and regulations as well as the Company's changing views of its use of capital, the Company determined it could no longer assert that it will not more likely than not be required to sell the SLARS prior to the recovery of their fair value to amortized cost. | ||||||||||||||||||||||||||||||||||||||||
In January 2013, the company sold approximately $21 million of its holdings in SLARS resulting in a realized gain of $1.0 million. | ||||||||||||||||||||||||||||||||||||||||
The following table presents maturity information for the Company's investments in debt securities as of December 31, 2012: | ||||||||||||||||||||||||||||||||||||||||
(in millions) | Fair Value | |||||||||||||||||||||||||||||||||||||||
Due within one year | $ | 125.6 | ||||||||||||||||||||||||||||||||||||||
Due after one year through five years | 15.3 | |||||||||||||||||||||||||||||||||||||||
Due after five years through 10 years | — | |||||||||||||||||||||||||||||||||||||||
Due after 10 years | 38.9 | |||||||||||||||||||||||||||||||||||||||
Total debt securities | $ | 179.8 | ||||||||||||||||||||||||||||||||||||||
The Company also maintained investments in non-marketable securities, held for strategic purposes (collectively referred to as "cost method investments") which are carried at cost and included in "Other long-term assets" in the Company's Consolidated Balance Sheets. These investments are evaluated for impairment upon an indicator of impairment such as an event or change in circumstances that may have a significant adverse effect on the fair value of the investment. During the third quarter of 2012, the Company recognized an impairment of $8.7 million related to a cost method investment due to uncertainty regarding the investee's viability as a going concern. Where there are no indicators of impairment present, the Company estimates the fair value for the cost method investments only if it is practicable to do so. As of December 31, 2012, it was deemed impracticable to estimate the fair value on $8.0 million of cost method assets due to the lack of sufficient data upon which to develop a valuation model and the costs of obtaining an independent valuation in relation to the size of the investments. | ||||||||||||||||||||||||||||||||||||||||
Derivative_Financial_Instrumen5
Derivative Financial Instruments | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||||||||
Derivative Financial Instruments | ' | ' | |||||||||||||||||||||||||||||
Derivative Financial Instruments | ' | ' | |||||||||||||||||||||||||||||
Note 11: Derivative Financial Instruments | Note 6: Derivative Financial Instruments | ||||||||||||||||||||||||||||||
Risk Management Objectives and Strategies | Risk Management Objectives and Strategies | ||||||||||||||||||||||||||||||
The Company is exposed to various financial and market risks, including those related to changes in interest rates and foreign currency exchange rates, that exist as part of its ongoing business operations. The Company utilizes certain derivative financial instruments to enhance its ability to manage these risks. | The Company is exposed to various financial and market risks, including those related to changes in interest rates and foreign currency exchange rates, that exist as part of its ongoing business operations. The Company utilizes certain derivative financial instruments to enhance its ability to manage these risks. | ||||||||||||||||||||||||||||||
The Company uses derivative instruments (i) to mitigate cash flow risks with respect to changes in interest rates (forecasted interest payments on variable rate debt), (ii) to maintain a desired ratio of fixed rate and floating rate debt, and (iii) to protect the net investment in certain foreign subsidiaries and/or affiliates and intercompany loans with respect to changes in foreign currency exchange rates. | The Company uses derivative instruments (i) to mitigate cash flow risks with respect to changes in interest rates (forecasted interest payments on variable rate debt), (ii) to maintain a desired ratio of fixed rate and floating rate debt, and (iii) to protect the net investment in certain foreign subsidiaries and/or affiliates and intercompany loans with respect to changes in foreign currency exchange rates. | ||||||||||||||||||||||||||||||
Derivative instruments are entered into for periods consistent with related underlying exposures and do not constitute positions independent of those exposures. The Company applies strict policies to manage each of these risks, including prohibition against derivatives trading, derivatives market-making or any other speculative activities. Although most of the Company’s derivatives do not qualify for hedge accounting, they are maintained for economic hedge purposes and are not considered speculative. | Derivative instruments are entered into for periods consistent with related underlying exposures and do not constitute positions independent of those exposures. The Company applies strict policies to manage each of these risks, including prohibition against derivatives trading, derivatives market-making or any other speculative activities. Although most of the Company’s derivatives do not qualify for hedge accounting, they are maintained for economic hedge purposes and are not considered speculative. | ||||||||||||||||||||||||||||||
The Company’s policy is to manage its cash flow and net investment exposures related to adverse changes in interest rates and foreign currency exchange rates. The Company’s objective is to engage in risk management strategies that provide adequate downside protection. | The Company’s policy is to manage its cash flow and net investment exposures related to adverse changes in interest rates and foreign currency exchange rates. The Company’s objective is to engage in risk management strategies that provide adequate downside protection. | ||||||||||||||||||||||||||||||
Accounting for Derivative Instruments and Hedging Activities | Accounting for Derivative Instruments and Hedging Activities | ||||||||||||||||||||||||||||||
With respect to derivative instruments that are afforded hedge accounting, the effective portion of changes in the fair value of a derivative that is designated as a cash flow hedge is recorded in OCI and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Changes in the fair value of a net investment hedge that qualifies for hedge accounting are recorded as part of the cumulative translation adjustment in OCI to the extent the hedge is effective. Any ineffectiveness associated with designated cash flow hedges, as well as any change in the fair value of a derivative that is not designated as a hedge, is recorded immediately in “Other income (expense)” in the Consolidated Statements of Operations. | With respect to derivative instruments that are afforded hedge accounting, the effective portion of changes in the fair value of a derivative that is designated as a cash flow hedge is recorded in OCI and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Changes in the fair value of a net investment hedge that qualifies for hedge accounting are recorded as part of the cumulative translation adjustment in OCI to the extent the hedge is effective. Any ineffectiveness associated with designated cash flow hedges, as well as any change in the fair value of a derivative that is not designated as a hedge, is recorded immediately in “Other income (expense)” in the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||
The Company formally documents all relationships between hedging instruments and the underlying hedged items, as well as its risk management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives that have been designated as cash flow hedges to forecasted transactions and net investment hedges to the underlying investment in a foreign subsidiary or affiliate. The Company formally assesses, both at inception of the hedge and on an ongoing basis, whether the hedge is highly effective in offsetting changes in cash flows or foreign currency exposure of the underlying hedged items. The Company also performs an assessment of the probability of the forecasted transactions on a periodic basis. If it is determined that a derivative ceases to be highly effective during the term of the hedge or if the forecasted transaction is no longer probable, the Company discontinues hedge accounting prospectively for such derivative. | The Company formally documents all relationships between hedging instruments and the underlying hedged items, as well as its risk management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives that have been designated as cash flow hedges to forecasted transactions and net investment hedges to the underlying investment in a foreign subsidiary or affiliate. The Company formally assesses, both at inception of the hedge and on an ongoing basis, whether the hedge is highly effective in offsetting changes in cash flows or foreign currency exposure of the underlying hedged items. The Company also performs an assessment of the probability of the forecasted transactions on a periodic basis. If it is determined that a derivative ceases to be highly effective during the term of the hedge or if the forecasted transaction is no longer probable, the Company discontinues hedge accounting prospectively for such derivative. | ||||||||||||||||||||||||||||||
Credit Risk | Credit Risk | ||||||||||||||||||||||||||||||
The Company monitors the financial stability of its derivative counterparties and all counterparties remain highly-rated (in the “A” category or higher). The credit risk inherent in these agreements represents the possibility that a loss may occur from the nonperformance of a counterparty to the agreements. The Company performs a review at inception of the hedge, as circumstances warrant, and at least on a quarterly basis of the credit risk of these counterparties. The Company also monitors the concentration of its contracts with individual counterparties. The Company’s exposures are in liquid currencies (primarily in U.S. dollars, euros, Australian dollars, British pounds and Canadian dollars), so there is minimal risk that appropriate derivatives to maintain the hedging program would not be available in the future. | The Company monitors the financial stability of its derivative counterparties and all counterparties remain highly-rated (in the “A” category or higher). The credit risk inherent in these agreements represents the possibility that a loss may occur from the nonperformance of a counterparty to the agreements. The Company performs a review at inception of the hedge, as circumstances warrant, and at least on a quarterly basis of the credit risk of these counterparties. The Company also monitors the concentration of its contracts with individual counterparties. The Company’s exposures are in liquid currencies (primarily in U.S. dollars, euros and Australian dollars), so there is minimal risk that appropriate derivatives to maintain the hedging program would not be available in the future. | ||||||||||||||||||||||||||||||
Summary of Derivative Instruments | Summary of Derivative Instruments | ||||||||||||||||||||||||||||||
The Company’s derivative instruments portfolio was comprised of the following: | The Company’s derivative instruments portfolio was comprised of the following: | ||||||||||||||||||||||||||||||
Notional value (in millions) | As of September 30, | As of December 31, | Notional value (in millions) | As of December 31, | As of December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | ||||||||||||||||||||||||||||
Interest rate contracts | USD | 5,750 | USD | 5,750 | Interest rate contracts | USD | 5,750 | USD | 5,750 | ||||||||||||||||||||||
Foreign exchange contracts | EUR | 221.5 | EUR | 91.1 | Foreign exchange contracts | EUR | 91.1 | EUR | 91.1 | ||||||||||||||||||||||
Foreign exchange contracts | AUD | 215 | AUD | 115 | Foreign exchange contracts | AUD | 115 | AUD | 115 | ||||||||||||||||||||||
Foreign exchange contracts | GBP | 100 | GBP | — | Forward-starting interest rate contracts | USD | — | USD | 3,000 | ||||||||||||||||||||||
Foreign exchange contracts | CAD | 75 | CAD | — | |||||||||||||||||||||||||||
In January of 2013, the Company’s cross-currency swap with an aggregate notional value of 69.6 million euro expired. In January and February of 2013, the Company entered into cross-currency swaps with aggregate notional values of 100.0 million Australian dollars and 200.0 million euro that were designated as hedges of net investments in foreign operations. | |||||||||||||||||||||||||||||||
Derivatives Not Qualifying for Hedge Accounting. During the nine months ended September 30, 2013 and 2012, the Company held certain derivative instruments that functioned as economic hedges but no longer qualified or were not designated to qualify for hedge accounting. Such instruments included cross-currency swaps held in order to mitigate foreign currency exposure on intercompany loans and a portion of the Company’s net investment in its European operations, interest rate swaps held in order to mitigate the exposure to interest rate fluctuations on interest payments related to variable rate debt and a fixed to floating interest rate swap held to maintain a desired ratio of fixed and variable rate debt. | |||||||||||||||||||||||||||||||
Derivatives Not Qualifying For Hedge Accounting. During the twelve months ended December 31, 2012 and 2011, the Company held certain derivative instruments that functioned as economic hedges but no longer qualified or were not designated to qualify for hedge accounting. Such instruments included cross-currency swaps held in order to mitigate foreign currency exposure on intercompany loans and a portion of the Company’s net investment in its European operations, interest rate swaps held in order to mitigate the exposure to interest rate fluctuations on interest payments related to variable rate debt and a fixed to floating interest rate swap held to maintain a desired ratio of fixed and variable rate debt. | |||||||||||||||||||||||||||||||
Interest rate swaps held during the nine months ended September 30, 2012 with a combined notional value of $5.0 billion expired in September 2012. The Company held forward-starting interest rate swaps with a combined notional value of $5.0 billion which became effective upon expiration of the prior instruments. The interest rate swaps are intended to mitigate exposure to fluctuations in interest rates as the prior interest rate swaps and will expire in September 2016. The Company did not designate the swaps as hedges for accounting purposes. | |||||||||||||||||||||||||||||||
Interest rate swaps with a combined notional value of $5.0 billion expired in September 2012. During the third quarter of 2011 and the first quarter of 2012, the Company entered into forward-starting interest rate swaps with a combined notional value of $3.0 billion and $2.0 billion, respectively, all of which became effective upon expiration of the existing instruments. The interest rate swaps are intended to mitigate exposure to fluctuations in interest rates and will expire in September 2016. The Company did not designate the swaps as hedges for accounting purposes. | |||||||||||||||||||||||||||||||
During the nine months ended September 30, 2013 and 2012, the Company held cross-currency swaps not qualifying for hedge accounting with a total notional value of 21.5 million euro (approximately $29.1 million at September 30, 2013) and 91.1 million euro, respectively. In January of 2013, the Company’s cross-currency swap with an aggregate notional value of 69.6 million euro expired. | |||||||||||||||||||||||||||||||
During 2011, the Company entered into a fixed to floating interest rate swap in order to preserve the ratio of fixed and floating debt. The swap has a notional value of $750.0 million and expires on June 15, 2019, but is subject to a mandatory put that will result in cash settlement on June 15, 2015. | |||||||||||||||||||||||||||||||
During the first quarter of 2012, an interest rate swap with a total notional value of $500 million ceased to qualify for hedge accounting treatment and the Company therefore de-designated the cash flow hedge from the beginning of the quarter. For this and for previous cash flow hedge de-designations, the amount carried in OCI as of the date of de-designation was subsequently reclassified into earnings in the same periods during which the forecasted transactions affected earnings. As of September 30, 2013, there are no longer any losses carried in OCI related to interest rate swaps that are expected to be reclassified into the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||
During the three months ended March 31, 2011, the Company held a foreign exchange rate collar with a notional value of $1.9 million that expired on March 31, 2011. | |||||||||||||||||||||||||||||||
For information on the location and amounts of derivative fair values in the Consolidated Balance Sheets, derivative gains and losses in the Consolidated Statements of Operations and accumulated derivative gains and losses in OCI, refer to the tables presented below. | |||||||||||||||||||||||||||||||
During the third quarter of 2010, five interest rate swaps with a total notional balance of $2.5 billion and one basis rate swap with a notional balance of $1.0 billion expired. | |||||||||||||||||||||||||||||||
Derivatives that Qualify for Hedge Accounting | |||||||||||||||||||||||||||||||
As of December 31, 2012 and 2011, the Company held cross-currency swaps not qualifying for hedge accounting with a total notional value of 91.1 million euro (approximately $120.5 million at December 31, 2012). In January of 2013, the Company’s cross-currency swap with an aggregate notional value of 69.6 million euro expired. | |||||||||||||||||||||||||||||||
Hedges of net investments in foreign operations. During the first quarter of 2013, the Company entered into cross-currency swaps with aggregate notional values of 100.0 million Australian dollars and 200.0 million euro that were designated as hedges of net investments in foreign operations. During the third quarter of 2013, the Company entered into cross-currency swaps with aggregate notional values of 100.0 million British pounds and 75.0 million Canadian dollars that were designated as hedges of net investments in foreign operations. As of September 30, 2013, the Company held cross-currency swaps with an aggregate notional value of 215.0 million Australian dollars (approximately $201.4 million at September 30, 2013), 200.0 million euro (approximately $270.5 million at September 30, 2013), 100.0 million British pounds (approximately $160.8 million at September 30, 2013) and 75.0 million Canadian dollars (approximately $72.7 million at September 30, 2013). As of September 30, 2012, the Company held a cross-currency swap with an aggregate notional value of 115.0 million Australian dollars that was designated as a hedge of a net investment in a foreign operation. | |||||||||||||||||||||||||||||||
During 2012, 2011, and 2010, certain interest rate swaps previously designated as hedges for accounting purposes ceased to qualify for hedge accounting treatment. The Company therefore de-designated the hedges and ceased to apply hedge accounting from the beginning of the quarter during which the respective de-designations occurred. The amount carried in OCI as of the date of de-designation was subsequently reclassified into earnings in the same periods during which the forecasted transactions affect earnings. As of December 31, 2012, there are no longer any losses carried in OCI related to interest rate swaps that are expected to be reclassified into the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||
Cash flow hedges. As of September 30, 2013 and 2012, the Company did not have any interest rate swaps that were designated as cash flow hedges of the variability in the interest payments on its debt. | |||||||||||||||||||||||||||||||
For information on the location and amounts of derivative fair values in the Consolidated Balance Sheets, derivative gains and losses in the Consolidated Statements of Operations and accumulated derivative gains and losses in OCI, refer to the tables presented below. | |||||||||||||||||||||||||||||||
For information on the location and amounts of derivative fair values in the Consolidated Balance Sheets, derivative gains and losses in the Consolidated Statements of Operations and accumulated derivative gains and losses in OCI, refer to the tables presented below. | |||||||||||||||||||||||||||||||
Derivatives That Qualify for Hedge Accounting. | |||||||||||||||||||||||||||||||
Fair Value of Derivative Instruments | |||||||||||||||||||||||||||||||
Hedge of a net investment in a foreign operation.As of December 31, 2012 and 2011, the Company held a cross-currency swap with an aggregate notional value of 115.0 million Australian dollars (approximately $119.3 million at December 31, 2012) that was designated as a hedge of a net investment in a foreign operation. | |||||||||||||||||||||||||||||||
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | |||||||||||||||||||||||||||||||
In January and February of 2013, the Company entered into cross-currency swaps that were designated as hedges of net investments in foreign operations, as discussed above. | |||||||||||||||||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||||||||||||
(in millions) | Assets (a)(c) | Liabilities (b)(c) | Cash flow hedges.As of December 31, 2012, the Company did not have any interest rate swaps that were designated as cash flow hedges of the variability in the interest payments on its debt. As of December 31, 2011, the Company held interest rate swaps which were designated as cash flow hedges of the variability in the interest payments on $500 million of variable rate senior secured term loans which expired in September 2012. Since December 31, 2011, these designated cash flow hedges ceased to be highly effective in offsetting the variability in the interest payments, due in part to their approaching maturity dates, and were de-designated. Until the de-designation date of these cash flow hedges, the Company followed the hypothetical derivative method to measure hedge ineffectiveness which resulted mostly from the hedges being off-market at the time of designation, and any ineffectiveness was recognized immediately in the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||||||
Foreign exchange contracts | $ | 11.1 | $ | (29.2 | ) | During the third quarter of 2010, two basis rate swaps with a total notional balance of $3.0 billion expired. | |||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||
Interest rate contracts | 62.2 | (116.9 | ) | For information on the location and amounts of derivative fair values in the Consolidated Balance Sheets, derivative gains and losses in the Consolidated Statements of Operations and accumulated derivative gains and losses in OCI, refer to the tables presented below. | |||||||||||||||||||||||||||
Foreign exchange contracts | — | (2.4 | ) | ||||||||||||||||||||||||||||
Total derivatives not designated as hedging instruments | 62.2 | (119.3 | ) | Fair Value of Derivative Instruments | |||||||||||||||||||||||||||
Total derivatives | $ | 73.3 | $ | (148.5 | ) | ||||||||||||||||||||||||||
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | |||||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||
(in millions) | Assets (a)(c) | Liabilities (b)(c) | As of December 31, 2012 | ||||||||||||||||||||||||||||
Derivative designated as hedging instrument: | (in millions) | Assets (a)(c) | Liabilities (b)(c) | ||||||||||||||||||||||||||||
Foreign exchange contract | $ | — | $ | (32.8 | ) | Derivatives designated as hedging instruments | |||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | Foreign exchange contract | $ | — | $ | (32.8 | ) | |||||||||||||||||||||||||
Interest rate contracts | 90.8 | (137.7 | ) | Derivatives not designated as hedging instruments | |||||||||||||||||||||||||||
Foreign exchange contracts | 10.1 | (1.6 | ) | Interest rate contracts | 90.8 | (137.7 | ) | ||||||||||||||||||||||||
Total derivatives not designated as hedging instruments | 100.9 | (139.3 | ) | Foreign exchange contracts | 10.1 | (1.6 | ) | ||||||||||||||||||||||||
Total derivatives | $ | 100.9 | $ | (172.1 | ) | Total derivatives not designated as hedging instruments | 100.9 | (139.3 | ) | ||||||||||||||||||||||
Total derivatives | $ | 100.9 | $ | (172.1 | ) | ||||||||||||||||||||||||||
(a) Derivative assets are included in the “Other current assets” and “Other long-term assets” lines of the Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||
(b) Derivative liabilities are included in the “Other current liabilities” and “Other long-term liabilities” lines of the Consolidated Balance Sheets. | As of December 31, 2011 | ||||||||||||||||||||||||||||||
(c) The Company presents all derivative balances on a gross basis, without regard to counterparty master netting agreements or similar arrangements. Of the balances included in the table above, $73.3 million of assets and $115.5 million of liabilities, net $42.2 million, as of September 30, 2013 and $100.9 million of assets and $126.0 million of liabilities, net $25.1 million, as of December 31, 2012 are subject to master netting agreements with the counterparties. The terms of those agreements require that the Company net settle the outstanding positions at the option of the counterparty upon certain events of default. | (in millions) | Assets (a)(c) | Liabilities (b)(c) | ||||||||||||||||||||||||||||
Derivatives designated as hedging instruments | |||||||||||||||||||||||||||||||
The Effect of Derivative Instruments on the Consolidated Statements of Operations | Interest rate contract | $ | — | $ | (12.8 | ) | |||||||||||||||||||||||||
Foreign exchange contract | — | (27.1 | ) | ||||||||||||||||||||||||||||
Three months ended September 30, | Total derivatives designated as hedging instruments | — | (39.9 | ) | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||
(in millions, pretax) | Interest | Foreign | Interest | Foreign | Derivatives not designated as hedging instruments | ||||||||||||||||||||||||||
Rate | Exchange | Rate | Exchange | Interest rate contracts | $ | 65.4 | $ | (143.9 | ) | ||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | Foreign exchange contracts | 10.9 | (0.7 | ) | ||||||||||||||||||||||||
Derivatives in cash flow hedging relationships: | Forward-starting interest rate contracts | — | (11.9 | ) | |||||||||||||||||||||||||||
Amount of gain or (loss) reclassified from accumulated OCI into income (a) | $ | — | $ | — | $ | (37.9 | ) | $ | — | Total derivatives not designated as hedging instruments | 76.3 | (156.5 | ) | ||||||||||||||||||
Derivative in net investment hedging relationships: | Total derivatives | $ | 76.3 | $ | (196.4 | ) | |||||||||||||||||||||||||
Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | $ | (20.3 | ) | $ | — | $ | (3.7 | ) | |||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||
Amount of gain or (loss) recognized in income (b) | $ | (24.3 | ) | $ | (1.2 | ) | $ | (41.2 | ) | $ | (1.8 | ) | (a) Derivative assets are included in the “Other current assets” and “Other long-term assets” lines of the Consolidated Balance Sheets. | ||||||||||||||||||
(b) Derivative liabilities are included in the “Other current liabilities” and “Other long-term liabilities” lines of the Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||
Nine months ended September 30, | (c) The Company’s policy is to present all derivative balances on a gross basis, without regard to counterparty master netting agreements or similar arrangements. | ||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||
(in millions, pretax) | Interest | Foreign | Interest | Foreign | The Effect of Derivative Instruments on the Consolidated Statements of Operations | ||||||||||||||||||||||||||
Rate | Exchange | Rate | Exchange | ||||||||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | Year ended December 31, | |||||||||||||||||||||||||||
Derivatives in cash flow hedging relationships: | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||
Amount of gain or (loss) reclassified from accumulated OCI into income (a) | $ | — | $ | — | $ | (114.8 | ) | $ | — | (in millions, pretax) | Interest | Foreign | Interest | Foreign | Interest | Foreign | |||||||||||||||
Derivative in net investment hedging relationships: | Rate | Exchange | Rate | Exchange | Rate | Exchange | |||||||||||||||||||||||||
Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | $ | 11.7 | $ | — | $ | (7.1 | ) | Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | ||||||||||||||||
Derivatives not designated as hedging instruments: | Derivatives in cash flow hedging relationships: | ||||||||||||||||||||||||||||||
Amount of gain or (loss) recognized in income (b) | $ | (10.1 | ) | $ | (1.2 | ) | $ | (88.4 | ) | $ | 1.6 | Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | — | $ | 61.3 | — | $ | (26.2 | ) | — | |||||||||
Amount of gain or (loss) reclassified from accumulated OCI into income (a) | (114.9 | ) | — | (93.0 | ) | — | (145.7 | ) | — | ||||||||||||||||||||||
(a) Gain (loss) is recognized in the “Interest expense” line of the Consolidated Statements of Operations. | Amount of gain or (loss) recognized in income (ineffective portion) (b) | — | — | (2.3 | ) | — | (6.3 | ) | — | ||||||||||||||||||||||
(b) Gain (loss) is recognized in the “Other income (expense)” line of the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||
Derivatives in net investment hedging relationships: | |||||||||||||||||||||||||||||||
Accumulated Derivatives Gains and Losses | Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | (9.2 | ) | $ | — | (9.4 | ) | $ | — | (14.8 | ) | ||||||||||||||||||
Amount of gain or (loss) recognized in income (ineffective portion) (b) | — | — | — | — | — | 0.5 | |||||||||||||||||||||||||
The following table summarizes activity in other comprehensive income for the nine months ended September 30, 2013 related to derivative instruments classified as net investment hedges held by the Company: | Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||||||
Amount of gain or (loss) recognized in income (b) | $ | (89.9 | ) | (1.5 | ) | $ | 58 | 2.5 | $ | (61.6 | ) | 9.1 | |||||||||||||||||||
(in millions, after tax) | Nine months ended | ||||||||||||||||||||||||||||||
September 30, 2013 | (a) Gain (loss) is recognized in the “Interest expense” line of the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||
Accumulated loss included in other comprehensive income (loss) at beginning of the period | $ | (21.1 | ) | (b) Gain (loss) is recognized in the “Other income (expense)” line of the Consolidated Statements of Operations. | |||||||||||||||||||||||||||
Increase in fair value of derivative that qualifies for hedge accounting (a) | 11.5 | ||||||||||||||||||||||||||||||
Accumulated gain included in other comprehensive income (loss) at end of the period | $ | (9.6 | ) | Accumulated Derivative Gains and Losses | |||||||||||||||||||||||||||
(a) Gains and losses are included in “Foreign currency translation adjustment” on the Consolidated Statements of Comprehensive Income (Loss). | The following table summarizes activity in other comprehensive income for the years ended December 31, 2012 and 2011 related to derivative instruments classified as cash flow hedges and a net investment hedge held by the Company: | ||||||||||||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||||||||||||
(in millions, after tax) | 2012 | 2011 | |||||||||||||||||||||||||||||
Accumulated loss included in other comprehensive income (loss) at beginning of the period | $ | (87.6 | ) | $ | (181.3 | ) | |||||||||||||||||||||||||
Less: Reclassifications into earnings from other comprehensive income (loss) | 72.2 | 60.2 | |||||||||||||||||||||||||||||
(15.4 | ) | (121.1 | ) | ||||||||||||||||||||||||||||
Increase in fair value of derivatives that qualify for hedge accounting (a) | (5.7 | ) | 33.5 | ||||||||||||||||||||||||||||
Accumulated loss included in other comprehensive income (loss) at end of the period | $ | (21.1 | ) | $ | (87.6 | ) | |||||||||||||||||||||||||
(a) Gains and losses are included in “Unrealized gains on hedging activities” and in “Foreign currency translation adjustment” on the Consolidated Statements of Comprehensive Income (Loss). | |||||||||||||||||||||||||||||||
Fair_Value_Measurement1
Fair Value Measurement | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||
Fair Value Measurement | ' | ' | ||||||||||||||||||||||||||
Fair Value Measurement | ' | ' | ||||||||||||||||||||||||||
Note 12: Fair Value Measurement | Note 7: Fair Value Measurement | |||||||||||||||||||||||||||
Fair Value of Financial Instruments | Fair value of financial instruments | |||||||||||||||||||||||||||
Carrying amounts for certain of the Company’s financial instruments (cash and cash equivalents and short-term borrowings) approximate fair value due to their short maturities. Accordingly, these instruments are not presented in the following table. The following table provides the estimated fair values of the remaining financial instruments: | Carrying amounts for certain of the Company’s financial instruments (cash and cash equivalents and short-term borrowings) approximate fair value due to their short maturities. Accordingly, these instruments are not presented in the following table. The following table provides the estimated fair values of the remaining financial instruments: | |||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | As of December 31, 2011 | ||||||||||||||||||||||||||
(in millions) | Carrying | Fair Value (a) | (in millions) | Carrying Value | Fair Value (a) | Carrying Value | Fair Value (a) | |||||||||||||||||||||
Value | Financial instruments: | |||||||||||||||||||||||||||
Financial instruments: | Settlement assets: | |||||||||||||||||||||||||||
Settlement assets: | Short-term investment securities | $ | 125.6 | $ | 125.6 | $ | 105.7 | $ | 105.7 | |||||||||||||||||||
Short-term investment securities | $ | 59.8 | $ | 59.8 | Long-term investment securities | $ | 54.3 | $ | 54.3 | $ | 181 | $ | 181 | |||||||||||||||
Long-term investment securities | $ | 18.6 | $ | 18.6 | Other current assets: | |||||||||||||||||||||||
Other current assets: | Derivative financial instruments | $ | 11.1 | $ | 11.1 | $ | — | $ | — | |||||||||||||||||||
Derivative financial instruments | $ | 6.7 | $ | 6.7 | Other long-term assets: | |||||||||||||||||||||||
Other long-term assets: | Long-term investment securities | $ | 0.5 | $ | 0.5 | $ | 0.5 | $ | 0.5 | |||||||||||||||||||
Long-term investment securities | $ | 0.6 | $ | 0.6 | Cost method investments | $ | 13.4 | $ | 13.4 | $ | 23.7 | $ | 23.7 | |||||||||||||||
Cost method investments | $ | 9.1 | $ | 9.1 | Derivative financial instruments | $ | 89.8 | $ | 89.8 | $ | 76.3 | $ | 76.3 | |||||||||||||||
Derivative financial instruments | $ | 66.6 | $ | 66.6 | Other current liabilities: | |||||||||||||||||||||||
Other current liabilities: | Derivative financial instruments | $ | 0.3 | $ | 0.3 | $ | 156.7 | $ | 156.7 | |||||||||||||||||||
Derivative financial instruments | $ | 21.6 | $ | 21.6 | Long-term borrowings: | |||||||||||||||||||||||
Long-term borrowings: | Long-term borrowings | $ | 22,528.90 | $ | 22,732.60 | $ | 22,521.70 | $ | 20,189.80 | |||||||||||||||||||
Long-term borrowings | $ | 22,565.10 | $ | 23,359.30 | Other long-term liabilities: | |||||||||||||||||||||||
Other long-term liabilities: | Derivative financial instruments | $ | 171.8 | $ | 171.8 | $ | 39.7 | $ | 39.7 | |||||||||||||||||||
Derivative financial instruments | $ | 126.9 | $ | 126.9 | ||||||||||||||||||||||||
(a) Represents cost for cost method investments. Refer to Note 10 of these Consolidated Financial Statements for a more detailed discussion of cost method investments. | (a) Represents cost for cost method investments. Refer to Note 5 of these Consolidated Financial Statements for a more detailed discussion of cost method investments. | |||||||||||||||||||||||||||
The estimated fair values of investment securities and derivative financial instruments are described below. Refer to Notes 10 and 11 of these Consolidated Financial Statements for additional information regarding the Company’s investment securities and derivative financial instruments, respectively. | The estimated fair values of investment securities and derivative financial instruments are described below. Refer to Notes 5 and 6 of these Consolidated Financial Statements for additional information regarding the Company’s investment securities and derivative financial instruments, respectively. | |||||||||||||||||||||||||||
The estimated fair market value of FDC’s long-term borrowings was primarily based on market trading prices and is considered to be a Level 2 measurement. For additional information regarding the Company’s borrowings, refer to Note 4 of these Consolidated Financial Statements as well as to Note 8 of the Company’s Consolidated Financial Statements in Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | The estimated fair market value of FDC’s long-term borrowings was primarily based on market trading prices and is considered to be a level 2 measurement. For additional information regarding the Company’s borrowings, refer to Note 8 of these Consolidated Financial Statements. | |||||||||||||||||||||||||||
Concentration of Credit Risk | Concentration of credit risk | |||||||||||||||||||||||||||
The Company’s investment securities are diversified across multiple issuers within its investment portfolio (investment securities plus cash and cash equivalents). In addition to investment securities, the Company maintains other financial instruments with various financial institutions. The Company’s largest single issuer represents less than 15% of the total carrying value of the investment portfolio and the Company limits its derivative financial instruments credit risk by maintaining contracts with highly rated (in the “A” category or higher) counterparties. The Company periodically reviews the credit standings of these institutions. | The Company’s investment securities are diversified across multiple issuers within its investment portfolio (investment securities plus cash and cash equivalents). In addition to investment securities, the Company maintains other financial instruments with various financial institutions. The Company’s largest single issuer represents less than 15% of the total carrying value of the investment portfolio and the Company limits its derivative financial instruments credit risk by maintaining contracts with counterparties having a credit rating of “A” or higher. The Company periodically reviews the credit standings of these institutions. | |||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||||||||||||
Financial instruments carried and measured at fair value on a recurring basis are classified in the table below according to the fair value hierarchy: | Fair value is defined by accounting guidance as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses the hierarchy prescribed in the accounting guidance for fair value measurements, based upon the available inputs to the valuation and the degree to which they are observable or not observable in the market. The three levels in the hierarchy are as follows: | |||||||||||||||||||||||||||
As of September 30, 2013 | · Level 1 Inputs—Quoted prices (unadjusted) for identical assets or liabilities in active markets that are accessible as of the measurement date. | |||||||||||||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||||||||||||||
(in millions) | Quoted prices in | Significant other | Significant | Total | · Level 2 Inputs—Inputs other than quoted prices within Level 1 that are observable either directly or indirectly, including but not limited to quoted prices in markets that are not active, quoted prices in active markets for similar assets or liabilities and observable inputs other than quoted prices such as interest rates or yield curves. | |||||||||||||||||||||||
active markets | observable | unobservable | ||||||||||||||||||||||||||
for identical | inputs | inputs | · Level 3 Inputs—Unobservable inputs reflecting the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. | |||||||||||||||||||||||||
assets | (Level 2) | (Level 3) | ||||||||||||||||||||||||||
(Level 1) | The Company maximizes the use of relevant observable inputs and minimizes the use of unobservable inputs. | |||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||
Settlement assets: | Financial instruments carried and measured at fair value on a recurring basis are classified in the table below according to the fair value hierarchy described above: | |||||||||||||||||||||||||||
Student loan auction rate securities | $ | — | $ | — | $ | 13.6 | $ | 13.6 | ||||||||||||||||||||
Corporate bonds | — | 6.1 | — | 6.1 | As of December 31, 2012 | |||||||||||||||||||||||
State and municipal obligations | — | 56.7 | — | 56.7 | Fair Value Measurement Using | |||||||||||||||||||||||
Preferred stock | 2 | — | — | 2 | (in millions) | Quoted prices in | Significant other | Significant | Total | |||||||||||||||||||
Total settlement assets | 2 | 62.8 | 13.6 | 78.4 | active markets | observable | unobservable | |||||||||||||||||||||
for identical assets | inputs | inputs | ||||||||||||||||||||||||||
Other current assets: | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||||
Interest rate swap contracts | — | 6.7 | — | 6.7 | Assets: | |||||||||||||||||||||||
Other long-term assets: | Settlement assets: | |||||||||||||||||||||||||||
Available-for-sale securities | — | 0.6 | — | 0.6 | Student loan auction rate securities | $ | — | $ | — | $ | 38.8 | $ | 38.8 | |||||||||||||||
Foreign currency derivative contracts | — | 11.1 | — | 11.1 | Corporate bonds | — | 6.6 | — | 6.6 | |||||||||||||||||||
Interest rate swap contracts | — | 55.5 | — | 55.5 | State and municipal obligations | — | 133.9 | — | 133.9 | |||||||||||||||||||
Total assets at fair value | $ | 2 | $ | 136.7 | $ | 13.6 | $ | 152.3 | Preferred stock | 0.6 | — | — | 0.6 | |||||||||||||||
Total settlement assets | 0.6 | 140.5 | 38.8 | 179.9 | ||||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||
Other current liabilities: | Other current assets: | |||||||||||||||||||||||||||
Foreign currency derivative contracts | $ | — | $ | 21.1 | $ | — | $ | 21.1 | Interest rate swap contracts | — | 1 | — | 1 | |||||||||||||||
Interest rate swap contracts | — | 0.5 | — | 0.5 | Foreign currency derivative contracts | — | 10.1 | 10.1 | ||||||||||||||||||||
Other long-term liabilities: | Other long-term assets: | |||||||||||||||||||||||||||
Foreign currency derivative contracts | — | 10.5 | — | 10.5 | Available-for-sale securities | — | 0.5 | — | 0.5 | |||||||||||||||||||
Interest rate swap contracts | — | 116.4 | — | 116.4 | Interest rate swap contracts | — | 89.8 | — | 89.8 | |||||||||||||||||||
Contingent consideration | — | — | 20 | 20 | Total assets at fair value | $ | 0.6 | $ | 241.9 | $ | 38.8 | $ | 281.3 | |||||||||||||||
Total liabilities at fair value | $ | — | $ | 148.5 | $ | 20 | $ | 168.5 | ||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||
As of December 31, 2012 | Other current liabilities: | |||||||||||||||||||||||||||
Fair Value Measurement Using | Interest rate swap contracts | $ | — | $ | 0.3 | $ | — | $ | 0.3 | |||||||||||||||||||
(in millions) | Quoted prices in | Significant other | Significant | Total | Other long-term liabilities: | |||||||||||||||||||||||
active markets | observable | unobservable | Foreign currency derivative contracts | — | 34.4 | — | 34.4 | |||||||||||||||||||||
for identical | inputs | inputs | Interest rate swap contracts | — | 137.4 | — | 137.4 | |||||||||||||||||||||
assets | (Level 2) | (Level 3) | Contingent consideration | — | — | 20 | 20 | |||||||||||||||||||||
(Level 1) | Total liabilities at fair value | $ | — | $ | 172.1 | $ | 20 | $ | 192.1 | |||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||
Settlement assets: | As of December 31, 2011 | |||||||||||||||||||||||||||
Student loan auction rate securities | $ | — | $ | — | $ | 38.8 | $ | 38.8 | Fair Value Measurement Using | |||||||||||||||||||
Corporate bonds | — | 6.6 | — | 6.6 | (in millions) | Quoted prices in | Significant other | Significant | Total | |||||||||||||||||||
State and municipal obligations | — | 133.9 | — | 133.9 | active markets | observable | unobservable | |||||||||||||||||||||
Preferred stock | 0.6 | — | — | 0.6 | for identical assets | inputs | inputs | |||||||||||||||||||||
Total settlement assets | 0.6 | 140.5 | 38.8 | 179.9 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||
Other current assets: | Settlement assets: | |||||||||||||||||||||||||||
Interest rate swap contracts | — | 1 | — | 1 | Student loan auction rate securities | $ | — | $ | — | $ | 170.5 | $ | 170.5 | |||||||||||||||
Foreign currency derivative contracts | — | 10.1 | — | 10.1 | Corporate bonds | — | 10.2 | — | 10.2 | |||||||||||||||||||
Other long-term assets: | State and municipal obligations | — | 95.5 | — | 95.5 | |||||||||||||||||||||||
Available-for-sale securities | — | 0.5 | — | 0.5 | U.S. Government guaranteed agency securities | — | 10 | — | 10 | |||||||||||||||||||
Interest rate swap contracts | — | 89.8 | — | 89.8 | Preferred stock | 0.5 | — | — | 0.5 | |||||||||||||||||||
Total assets at fair value | $ | 0.6 | $ | 241.9 | $ | 38.8 | $ | 281.3 | Total settlement assets | 0.5 | 115.7 | 170.5 | 286.7 | |||||||||||||||
Liabilities: | Other long-term assets: | |||||||||||||||||||||||||||
Other current liabilities: | Available-for-sale securities | — | 0.5 | — | 0.5 | |||||||||||||||||||||||
Interest rate swap contracts | $ | — | $ | 0.3 | $ | — | $ | 0.3 | Interest rate swap contracts | — | 65.4 | — | 65.4 | |||||||||||||||
Other long-term liabilities: | Foreign currency derivative contracts | — | 10.9 | — | 10.9 | |||||||||||||||||||||||
Foreign currency derivative contracts | — | 34.4 | — | 34.4 | Total other long-term assets | — | 76.8 | — | 76.8 | |||||||||||||||||||
Interest rate swap contracts | — | 137.4 | — | 137.4 | Total assets at fair value | $ | 0.5 | $ | 192.5 | $ | 170.5 | $ | 363.5 | |||||||||||||||
Contingent consideration | — | — | 20 | 20 | ||||||||||||||||||||||||
Total liabilities at fair value | $ | — | $ | 172.1 | $ | 20 | $ | 192.1 | Liabilities: | |||||||||||||||||||
Other current liabilities: | ||||||||||||||||||||||||||||
Settlement assets - student loan auction rate securities. Due to the lack of observable market activity for the SLARS held by the Company as of September 30, 2013, the Company, with the assistance of a third-party valuation firm upon which the Company in part relied, made certain assumptions, primarily relating to estimating both the weighted-average life for the securities held by the Company and the impact on the fair value of the current inability to redeem the securities at par value. All key assumptions and valuations were determined by and are the responsibility of management. The securities were valued using an income approach based on a probability-weighted discounted cash flow analysis. The Company considered each security’s key terms including date of issuance, date of maturity, auction intervals, scheduled auction dates, maximum auction rates, as well as underlying collateral, ratings, and guarantees or insurance. Due to the use of unobservable inputs, these instruments are classified as Level 3 within the fair value hierarchy. For additional information regarding the SLARS, refer to Note 10 of these Consolidated Financial Statements. | Interest rate swap contracts | $ | — | $ | 156.7 | $ | — | $ | 156.7 | |||||||||||||||||||
Other long-term liabilities: | ||||||||||||||||||||||||||||
(in millions) | Fair Value Measurement | Foreign currency derivative contracts | — | 27.8 | — | 27.8 | ||||||||||||||||||||||
Using Significant Unobservable Inputs | Forward-starting interest rate contracts | — | 11.9 | — | 11.9 | |||||||||||||||||||||||
(Level 3) | Total liabilities at fair value | $ | — | $ | 196.4 | $ | — | $ | 196.4 | |||||||||||||||||||
Student loan auction rate securities | ||||||||||||||||||||||||||||
Beginning balance as of January 1, 2013 | $ | 38.8 | Settlement assets - student loan auction rate securities. Due to the lack of observable market activity for the SLARS held by the Company as of December 31, 2012, the Company, with the assistance of a third-party valuation firm upon which the Company in part relied, made certain assumptions, primarily relating to estimating both the weighted-average life for the securities held by the Company and the impact on the fair value of the current inability to redeem the securities at par value. All key assumptions and valuations were determined by and are the responsibility of management. The securities were valued using an income approach based on a probability-weighted discounted cash flow analysis. The Company considered each security’s key terms including date of issuance, date of maturity, auction intervals, scheduled auction dates, maximum auction rates, as well as underlying collateral, ratings, and guarantees or insurance. The impact of the Company’s judgment in the valuation was significant and, accordingly, the resulting fair value was classified as Level 3 within the fair value hierarchy. A 50 basis point change in liquidity risk premium, as well as slight changes in other unobservable inputs including default probability and default recovery rate assumptions and the probability of an issuer call prior to maturity, would impact the value of the SLARS by approximately $1 million. For additional information regarding sales, settlements and impairments of the SLARS, refer to Note 5 of these Consolidated Financial Statements. | |||||||||||||||||||||||||
Total realized gains included in product sales and other | 1.3 | |||||||||||||||||||||||||||
Total unrealized losses included in other comprehensive income | (0.4 | ) | (in millions) | Fair Value Measurement | ||||||||||||||||||||||||
Sales | (26.1 | ) | Using Significant | |||||||||||||||||||||||||
Ending balance as of September 30, 2013 | $ | 13.6 | Unobservable Inputs | |||||||||||||||||||||||||
(Level 3) | ||||||||||||||||||||||||||||
Settlement assets - other available-for-sale securities. Prices for the municipal and corporate securities are not quoted on active exchanges but are priced through an independent third-party pricing service based on quotations from market-makers in the specific instruments or, where appropriate, from other market inputs. Bonds were valued under a market approach using observable inputs including reported trades, benchmark yields, broker/dealer quotes, issuer spreads and other standard inputs. Municipal paper was valued under a market approach using observable inputs including maturity date, issue date, credit rating, current commercial paper rates and settlement date. | Student loan auction rate | |||||||||||||||||||||||||||
securities | ||||||||||||||||||||||||||||
The Company’s experience with these types of investments and the expectations of the current investments held is that they will be satisfied at the current carrying amount. These securities were classified as Level 2. | Beginning balance as of January 1, 2011 | $ | 341.1 | |||||||||||||||||||||||||
Total gains or losses (realized or unrealized): | ||||||||||||||||||||||||||||
Derivative financial instruments. The Company uses derivative instruments to mitigate certain risks. The Company’s derivatives are not exchange listed and therefore the fair value is estimated under an income approach using Bloomberg analytics models that are based on readily observable market inputs. These models reflect the contractual terms of the derivatives, such as notional value and expiration date, as well as market-based observables including interest and foreign currency exchange rates, yield curves and the credit quality of the counterparties. The models also incorporate the Company’s creditworthiness in order to appropriately reflect non-performance risk. Inputs to the derivative pricing models are generally observable and do not contain a high level of subjectivity and, accordingly, the Company’s derivatives were classified within Level 2 of the fair value hierarchy. While the Company believes its estimates result in a reasonable reflection of the fair value of these instruments, the estimated values may not be representative of actual values that could have been realized or that will be realized in the near future. Refer to Note 11 of these Consolidated Financial Statements for additional information regarding the Company’s derivative financial instruments. | Included in other comprehensive income | 1.2 | ||||||||||||||||||||||||||
Included in product sales and other (a) | (4.5 | ) | ||||||||||||||||||||||||||
Contingent liabilities. During the year ended December 31, 2012, contingent consideration was recorded related to the acquisition of Clover Network, Inc. The transaction called for cash consideration as well as a series of contingent payments based on the achievement of specified sales targets. These contingent payments are classified as purchase consideration if made to outside investors and compensation if made to current and future employees. As part of the purchase price, the Company recorded a $20 million liability for the contingent consideration due to outside investors based upon the net present value of the Company’s estimate of the future payments. Subsequent measurements are made using the same methodology. This fair value measurement represents a Level 3 measurement as it is based on significant inputs not observable in the market. Significant judgment is employed in determining the appropriateness of these assumptions as of the acquisition date. The primary assumption is the estimated number of merchant locations that will be using the software in the next four years. | Sales | (158.4 | ) | |||||||||||||||||||||||||
Settlements | (8.9 | ) | ||||||||||||||||||||||||||
(in millions) | Fair Value Measurement | Transfers in (out) of Level 3 | — | |||||||||||||||||||||||||
Using Significant | Ending balance as of December 31, 2011 | 170.5 | ||||||||||||||||||||||||||
Unobservable Inputs | Total realized gains included in product sales and other | 4.4 | ||||||||||||||||||||||||||
(Level 3) | Sales | (135.6 | ) | |||||||||||||||||||||||||
Contingent consideration | Settlements | (0.5 | ) | |||||||||||||||||||||||||
Beginning balance as of January 1, 2013 | $ | 20 | Transfers in (out) of Level 3 | — | ||||||||||||||||||||||||
Contingent consideration payments | — | Ending balance as of December 31, 2012 | $ | 38.8 | ||||||||||||||||||||||||
Change in fair value of contingent consideration | — | |||||||||||||||||||||||||||
Ending balance as of September 30, 2013 | $ | 20 | ||||||||||||||||||||||||||
(a) Includes impairments of $5.2 million for the year ended December 31, 2011. | ||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | ||||||||||||||||||||||||||||
Settlement assets - other available-for-sale securities. Prices for the municipal, corporate, and U.S. Government securities are not quoted on active exchanges but are priced through an independent third-party pricing service based on quotations from market-makers in the specific instruments or, where appropriate, from other market inputs. Bonds were valued under a market approach using observable inputs including reported trades, benchmark yields, broker/dealer quotes, issuer spreads and other standard inputs. Municipal paper was valued under a market approach using observable inputs including maturity date, issue date, credit rating, current commercial paper rates and settlement date. | ||||||||||||||||||||||||||||
During the nine months ended September 30, 2013, the Company did not perform any material non-recurring fair value measurements. During the nine months ended September 30, 2012, the Company recorded impairments totaling approximately $18 million on assets with a total carrying value of approximately $38 million due to the sale, expected sale or discontinued use of certain assets. The impairments related to property and equipment, customer relationships, software, and goodwill. In addition, the Company impaired a strategic investment with a total carrying value of $8.7 million as discussed in Note 10. | ||||||||||||||||||||||||||||
The Company’s experience with these types of investments and the expectations of the current investments held is that they will be satisfied at the current carrying amount. These securities were classified as Level 2. | ||||||||||||||||||||||||||||
The fair values of the impaired assets were estimated primarily using a discounted cash flow analysis, based on management’s current cash flow projections and using assumptions that management believes are consistent with market participant assumptions. The inputs to the valuations are largely unobservable, and the measurements are accordingly classified as Level 3. All key assumptions and valuations were determined by and are the responsibility of management. | ||||||||||||||||||||||||||||
Derivative financial instruments. The Company uses derivative instruments to mitigate certain risks. The Company’s derivatives are not exchange listed and therefore the fair value is estimated under an income approach using Bloomberg analytics models that are based on readily observable market inputs. These models reflect the contractual terms of the derivatives, such as notional value and expiration date, as well as market-based observables including interest and foreign currency exchange rates, yield curves and the credit quality of the counterparties. The models also incorporate the Company’s creditworthiness in order to appropriately reflect non-performance risk. Inputs to the derivative pricing models are generally observable and do not contain a high level of subjectivity and, accordingly, the Company’s derivatives were classified within Level 2 of the fair value hierarchy. While the Company believes its estimates result in a reasonable reflection of the fair value of these instruments, the estimated values may not be representative of actual values that could have been realized or that will be realized in the near future. Refer to Note 6 of these Consolidated Financial Statements for additional information regarding the Company’s derivative financial instruments. | ||||||||||||||||||||||||||||
Contingent liabilities. As discussed in Note 3 of these Consolidated Financial Statements, during the year ended December 31, 2012, contingent consideration was recorded related to the acquisition of Clover Network, Inc. The transaction called for cash consideration as well as a series of contingent payments based on the achievement of specified sales targets. These contingent payments are classified as purchase consideration if made to outside investors and compensation if made to current and future employees. As part of the purchase price, the Company recorded a $20 million liability for the contingent consideration due to outside investors based upon the net present value of the Company’s estimate of the future payments. This fair value measurement represents a Level 3 measurement as it is based on significant inputs not observable in the market. Significant judgment is employed in determining the appropriateness of these assumptions as of the acquisition date. The primary assumption is the estimated number of merchant locations that will be using the software in the next four years. | ||||||||||||||||||||||||||||
Fair Value Measurement | ||||||||||||||||||||||||||||
(in millions) | Using Significant | |||||||||||||||||||||||||||
Unobservable Inputs | ||||||||||||||||||||||||||||
(Level 3) | ||||||||||||||||||||||||||||
Contingent consideration | ||||||||||||||||||||||||||||
Beginning balance as of January 1, 2012 | $ | — | ||||||||||||||||||||||||||
Initial estimate of contingent consideration | 20 | |||||||||||||||||||||||||||
Contingent consideration payments | — | |||||||||||||||||||||||||||
Change in fair value of contingent consideration | — | |||||||||||||||||||||||||||
Ending balance as of December 31, 2012 | $ | 20 | ||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | ||||||||||||||||||||||||||||
During the year ended December 31, 2012, the Company recorded impairments totaling approximately $22 million on assets with a total carrying value of approximately $42 million due to the sale, expected sale or discontinued use of certain assets. Approximately $5 million of the total impairments related to one business in the Financial Services segment and was recorded in the “Impairments” line in the Consolidated Statement of Operations, while the remaining amounts were individually insignificant and were recorded in the “Cost of services” line. The impairments related to property and equipment, customer relationships, software, and goodwill. In addition, the Company impaired a strategic investment with a total carrying value of $8.7 million within the Retail and Alliance Segment as discussed in Note 5. The impairment was recorded in the “Other income (expense)” line in the Consolidated Statement of Operations. | ||||||||||||||||||||||||||||
During the year ended December 31, 2011, the Company did not record any adjustments to the carrying value of existing assets based on non-recurring fair value measurements. | ||||||||||||||||||||||||||||
During the year ended December 31, 2010, the Company recorded impairments in the Retail and Alliance and International segments totaling $11.5 million on assets with a total carrying value of $11.7 million, as a result of changes in management’s expectations with respect to projected cash flows, ongoing negative cash flows for certain assets or asset groups or due to the discontinued use of certain assets. The impairments related to property and equipment, customer relationships, software, other intangibles, and other long-term assets and were recorded in the “Impairments” line in the Consolidated Statement of Operations. | ||||||||||||||||||||||||||||
The fair values of the impaired assets were estimated primarily using a discounted cash flow analysis for 2012 and an income approach for 2010, both based on management’s current cash flow projections and using assumptions that management believed were consistent with market participant assumptions. The inputs to the valuations were largely unobservable, and the measurements were accordingly classified as Level 3. The majority of these assets were deemed fully impaired. All key assumptions and valuations were determined by and are the responsibility of management. This fair value measurement represents a Level 3 measurement as it is based on significant inputs not observable in the market. The fair value will be measured on a non-recurring basis. Significant judgment is employed in determining the appropriateness of these assumptions. | ||||||||||||||||||||||||||||
Also during the year ended December 31, 2012, contingent consideration was recorded related to a small divestiture. The transaction called for a series of contingent payments based on revenue over three years. As part of the sale price, the Company recorded a $14 million asset for the contingent consideration due based upon the net present value of the Company’s estimate of future receipts from the buyer. | ||||||||||||||||||||||||||||
Income_Taxes1
Income Taxes | 9 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||
Income Taxes | ' | ' | ||||||||||
Income Taxes | ' | ' | ||||||||||
Note 13: Income Taxes | Note 17: Income Taxes | |||||||||||
The Company’s effective tax rates on pretax loss were expenses of 18.9% and 19.5% for the three and nine months ended September 30, 2013 and benefits of 28.5% and 38.5% for the same periods in 2012. The effective tax rates for the three and nine months ended September 30, 2013 were lower than the statutory rate primarily due to valuation allowances being recorded in certain tax jurisdictions, where deferred tax benefits are not recognized on pretax losses, while tax expense is recognized in jurisdictions with pretax earnings. Also negatively impacting the rate was an increase in the Company’s liability for unrecognized tax benefits. These negative adjustments were partially offset by state tax benefits, net income attributable to noncontrolling interests from pass-through entities for which there was no tax expense provided, certain immaterial prior period adjustments and foreign income taxed at lower effective rates. As a result of the Company’s pretax losses in each of the periods, favorable and unfavorable tax impacts have the opposite effect on the effective tax rate. | Year ended December 31, | |||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||
The effective tax rates for the three and nine months ended September 30, 2012 were each favorably impacted by state tax benefits, net income attributable to noncontrolling interests for which there was no tax expense provided and foreign income taxed at lower effective rates, and unfavorably impacted by increases in the Company’s valuation allowance against foreign tax credits. In addition to the above factors, the three-month period was unfavorably impacted by certain immaterial prior period adjustments, while the nine-month period was favorably impacted by a decrease in the Company’s liability for unrecognized tax benefits. | Components of pretax (loss) income: | |||||||||||
Domestic | $ | (875.5 | ) | $ | (898.9 | ) | $ | (1,289.1 | ) | |||
The Company projects that its deferred tax assets will exceed its deferred tax liabilities as of December 31, 2013. As a result, the Company determined that it is not more likely than not that it would be able to realize the value of its federal and combined state net operating loss carryforwards and has recorded a valuation allowance against a portion of these carryforwards. This valuation allowance is expected to increase over time as the Company’s deferred tax liabilities continue to decrease and will have a continuing adverse impact on the Company’s effective tax rate in the future. | Foreign | 124.2 | 292.7 | 118.4 | ||||||||
$ | (751.3 | ) | $ | (606.2 | ) | $ | (1,170.7 | ) | ||||
The balance of the Company’s liability for unrecognized tax benefits was approximately $288 million as of September 30, 2013. The Company anticipates it is reasonably possible that its liability for unrecognized tax benefits may decrease by approximately $138 million within the next twelve months as the result of the possible closure of federal tax audits, potential settlements with certain states and foreign countries and the lapse of the statute of limitations in various state and foreign jurisdictions. | (Benefit) provision for income taxes: | |||||||||||
Federal | $ | (301.4 | ) | $ | (282.6 | ) | $ | (313.9 | ) | |||
State and local | 66 | (27.9 | ) | (39.3 | ) | |||||||
Foreign | 11.4 | 40.4 | 29.4 | |||||||||
$ | (224.0 | ) | $ | (270.1 | ) | $ | (323.8 | ) | ||||
Effective Income Tax Rate | 29.8 | % | 44.6 | % | 27.7 | % | ||||||
The Company’s effective tax rates differ from statutory rates as follows: | ||||||||||||
Year ended December 31, | ||||||||||||
2012 | 2011 | 2010 | ||||||||||
Federal statutory rate | 35 | % | 35 | % | 35 | % | ||||||
State income taxes, net of federal income tax benefit | 1.1 | 1.5 | 2 | |||||||||
Nontaxable income from noncontrolling interests | 7.9 | 10.2 | 5.2 | |||||||||
Impact of foreign operations (a) (c) | 1.5 | 3.9 | 1.5 | |||||||||
Valuation allowances (c) | (20.2 | ) | (12.7 | ) | (15.1 | ) | ||||||
Liability for unrecognized tax benefits (c) | 4.1 | 3.3 | 2.1 | |||||||||
Impact of contribution to alliance (b) | 0 | (2.2 | ) | 0 | ||||||||
Prior year adjustments (c) | 2 | 2.5 | (1.2 | ) | ||||||||
Other | (1.6 | ) | 3.1 | (1.8 | ) | |||||||
Effective tax rate | 29.8 | % | 44.6 | % | 27.7 | % | ||||||
(a) The impact of foreign operations includes the effects of tax earnings and profits adjustments, foreign losses and differences between foreign tax expense and foreign taxes eligible for the U.S. foreign tax credit. | ||||||||||||
(b) The impact of contribution to alliance represents the tax effects resulting from the gain on the contribution of the Company’s transportation business in exchange for a 30% interest in an alliance. | ||||||||||||
(c) The 2012 effective tax rate was negatively impacted by a total of approximately 9% as a result of the current year cumulative correction of immaterial prior year errors. The cumulative corrections had an impact on each of the following line items above: Impact of foreign operations, Valuation allowances, Liability for unrecognized tax benefits and Prior year adjustments. | ||||||||||||
The Company’s income tax (benefits) provisions consisted of the following components: | ||||||||||||
Year ended December 31, | ||||||||||||
(in millions) | 2012 | 2011 | 2010 | |||||||||
Current | ||||||||||||
Federal | $ | (60.0 | ) | $ | (54.0 | ) | $ | (27.7 | ) | |||
State and local | 16 | 25.8 | 18.3 | |||||||||
Foreign | 38.6 | 61.8 | 57.7 | |||||||||
(5.4 | ) | 33.6 | 48.3 | |||||||||
Deferred | ||||||||||||
Federal | (241.4 | ) | (228.6 | ) | (286.2 | ) | ||||||
State and local | 50 | (53.7 | ) | (57.6 | ) | |||||||
Foreign | (27.2 | ) | (21.4 | ) | (28.3 | ) | ||||||
(218.6 | ) | (303.7 | ) | (372.1 | ) | |||||||
$ | (224.0 | ) | $ | (270.1 | ) | $ | (323.8 | ) | ||||
Income tax payments, net of refunds received, of $70.1 million, $67.2 million and $100.5 million in 2012, 2011 and 2010, respectively, were greater than current expense primarily as a result of the decreased liability for unrecognized tax benefits reducing current expense. | ||||||||||||
Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the book and tax bases of the Company’s assets and liabilities. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Deferred tax assets are included in both “Other current assets” and “Other long-term assets” in the Company’s Consolidated Balance Sheets. Deferred tax liabilities are included in “Deferred long-term tax liabilities” in the Company’s Consolidated Balance Sheets. The following table outlines the principal components of deferred tax items: | ||||||||||||
As of December 31, | ||||||||||||
(in millions) | 2012 | 2011(a) | ||||||||||
Deferred tax assets related to: | ||||||||||||
Reserves and other accrued expenses | $ | 543.5 | $ | 450.3 | ||||||||
Pension obligations | 47.9 | 44.2 | ||||||||||
Employee related liabilities | 75.7 | 64 | ||||||||||
Deferred revenues | 30 | 26.7 | ||||||||||
Unrealized securities and hedging (gain)/loss | — | 42.2 | ||||||||||
Net operating losses and tax credit carryforwards | 1,383.60 | 1,336.50 | ||||||||||
U.S. foreign tax credits on undistributed earnings | 234.8 | 203.2 | ||||||||||
Foreign exchange (gain)/loss | 48.5 | 61.5 | ||||||||||
Total deferred tax assets | 2,364.00 | 2,228.60 | ||||||||||
Valuation allowance | (896.5 | ) | (744.6 | ) | ||||||||
Realizable deferred tax assets | 1,467.50 | 1,484.00 | ||||||||||
Deferred tax liabilities related to: | ||||||||||||
Property, equipment and intangibles | (1,206.0 | ) | (1,382.0 | ) | ||||||||
Investment in affiliates and other | (512.3 | ) | (532.7 | ) | ||||||||
Unrealized securities and hedging (gain)/loss | (0.6 | ) | — | |||||||||
U.S. tax on foreign undistributed earnings | (173.8 | ) | (145.9 | ) | ||||||||
Total deferred tax liabilities | (1,892.7 | ) | (2,060.6 | ) | ||||||||
Net deferred tax liabilities | $ | (425.2 | ) | $ | (576.6 | ) | ||||||
(a) Certain amounts have been reclassified to conform to current year presentation. | ||||||||||||
The Company’s deferred tax assets and liabilities were included in the Consolidated Balance Sheets as follows: | ||||||||||||
As of December 31, | ||||||||||||
(in millions) | 2012 | 2011 | ||||||||||
Current deferred tax assets | $ | 73.9 | $ | 108.3 | ||||||||
Long-term deferred tax assets | 10.4 | 10.5 | ||||||||||
Long-term deferred tax liabilities | (509.5 | ) | (695.4 | ) | ||||||||
Net deferred tax liabilities | $ | (425.2 | ) | $ | (576.6 | ) | ||||||
As of December 31, 2012 and 2011, the Company had recorded valuation allowances of $896.5 million and $744.6 million, respectively, against federal, state and foreign net operating and capital losses, foreign tax credits and impairments. The increase to the valuation allowance of $151.9 million in 2012 was primarily due to current year foreign and state net operating losses which may not be utilized within the statute of limitations and foreign tax credits for which it is likely that no benefit will be realized in the future. In determining the necessary amount of valuation allowance, the Company has considered a tax planning strategy related to its investments in affiliates. Implementation of this strategy would result in the immediate reversal of temporary differences associated with the excess of book basis over tax basis in the investments. | ||||||||||||
The following table presents the approximate amounts of federal, state and foreign net operating loss carryforwards and foreign tax credit, general business credit and minimum tax credit carryforwards: | ||||||||||||
As of December 31, | ||||||||||||
(in millions) | 2012 | |||||||||||
Federal net operating loss carryforwards (a) | $ | 1,766.10 | ||||||||||
State net operating loss carryforwards (b) | 2,759.20 | |||||||||||
Foreign net operating loss carryforwards (c) | 2,450.00 | |||||||||||
Foreign tax credit carryforwards (d) | 144.1 | |||||||||||
General business credit carryforwards (e) | 11.1 | |||||||||||
Minimum tax credit carryforwards (f) | 1.6 | |||||||||||
(a) If not utilized, these carryforwards will expire in years 2015 through 2032. | ||||||||||||
(b) If not utilized, these carryforwards will expire in years 2013 through 2032. | ||||||||||||
(c) Foreign net operating loss carryforwards of $137 million, if not utilized, will expire in years 2013 through 2027. The remaining foreign net operating loss carryforwards of $2,313 million have an indefinite life. | ||||||||||||
(d) If not utilized, these carryforwards will expire in years 2018 through 2022. | ||||||||||||
(e) If not utilized, these carryforwards will expire in years 2027 through 2031. | ||||||||||||
(f) These carryforwards have an indefinite life. | ||||||||||||
The Company intends to indefinitely invest its net equity in its foreign operations, with the exception of any undistributed foreign earnings. Accordingly, as of December 31, 2012, no provision had been made for U.S. federal and state income taxes on the cumulative amount of temporary differences related to investments in foreign subsidiaries, other than those differences related to the undistributed earnings. Upon sale or liquidation of these investments, the Company would potentially be subject to U.S., state and foreign income taxes and withholding taxes payable to the various foreign countries. Determination of the amount of unrecognized deferred tax liability is not practicable because of the complexities associated with its hypothetical calculation. | ||||||||||||
A reconciliation of the unrecognized tax benefits for the year ended December 31, 2010, 2011 and 2012 is as follows: | ||||||||||||
(in millions) | Unrecognized Tax Benefits | |||||||||||
Balance as of January 1, 2010 | $ | 415 | ||||||||||
Increases for tax positions of prior years | 0.5 | |||||||||||
Decreases for tax positions of prior years | (45.4 | ) | ||||||||||
Increases for tax positions related to the current period | 1.9 | |||||||||||
Decreases for cash settlements with taxing authorities | (1.4 | ) | ||||||||||
Decreases due to the lapse of the applicable statute of limitations | (2.0 | ) | ||||||||||
Balance as of December 31, 2010 | $ | 368.6 | ||||||||||
Increases for tax positions of prior years | 1.3 | |||||||||||
Decreases for tax positions of prior years | (28.5 | ) | ||||||||||
Increases for tax positions related to the current period | 1.7 | |||||||||||
Decreases for cash settlements with taxing authorities | (1.0 | ) | ||||||||||
Decreases due to the lapse of the applicable statute of limitations | (7.4 | ) | ||||||||||
Balance as of December 31, 2011 | $ | 334.7 | ||||||||||
Increases for tax positions of prior years | 5.5 | |||||||||||
Decreases for tax positions of prior years | (57.7 | ) | ||||||||||
Increases for tax positions related to the current period | 6.2 | |||||||||||
Decreases for cash settlements with taxing authorities | (0.1 | ) | ||||||||||
Decreases due to the lapse of the applicable statute of limitations | (2.4 | ) | ||||||||||
Balance as of December 31, 2012 | $ | 286.2 | ||||||||||
Most of the unrecognized tax benefits are included in the “Other long-term liabilities” line of the Consolidated Balance Sheets, net of the federal benefit on state income taxes (approximately $21 million at December 31, 2012). However, those unrecognized tax benefits that affect the federal consolidated tax years ending December 31, 2008 through December 31, 2012 are included in the “Long-term deferred tax liabilities” line of the Consolidated Balance Sheets,” as these items reduce the Company’s net operating loss and credit carryforwards from those periods. The unrecognized tax benefits as of December 31, 2012, 2011, and 2010 included approximately $163 million, $172 million, and $195 million, respectively, of tax positions that, if recognized, would affect the effective tax rate. | ||||||||||||
During the year ended December 31, 2012, the Company’s liability for unrecognized tax benefits was reduced by $52 million upon closure of the 2003 and 2004 federal tax years and the resolution of certain state audit issues. The reduction in liabilities was recorded through a decrease to tax expense and an increase to deferred tax liabilities. | ||||||||||||
During the year ended December 31, 2011, the Company’s liability for unrecognized tax benefits was reduced by $25 million after negotiating settlements with the Internal Revenue Service (“IRS”) regarding specific contested issues in the 2003 through 2006 federal tax years. The reduction in liabilities was recorded through a decrease to tax expense. | ||||||||||||
During the year ended December 31, 2010, the Company’s liability for unrecognized tax benefits was reduced by $39 million upon the closure of the 2002 federal tax year and after negotiating settlements with the IRS regarding specific contested issues in the 2003 and 2004 federal tax years. The reduction in the liability was recorded through a decrease to tax expense and an increase to deferred tax liabilities. | ||||||||||||
The Company recognizes interest and penalties related to unrecognized tax benefits in the “Income tax (benefit) expense” line item of the Consolidated Statements of Operations. Cumulative accrued interest and penalties (net of related tax benefits) are not included in the ending balances of unrecognized tax benefits. Cumulative accrued interest and penalties are included in the “Other long-term liabilities” line of the Consolidated Balance Sheets while the related tax benefits are included in the “Long-term deferred tax liabilities” line of the Consolidated Balance Sheets. The following table presents the approximate amounts associated with accrued interest expense and the cumulative accrued interest and penalties: | ||||||||||||
Year ended December 31, | ||||||||||||
2012 | 2011 | 2010 | ||||||||||
Current year accrued interest expense (net of related tax benefits) | $ | 4 | $ | 9 | $ | 14 | ||||||
Cumulative accrued interest and penalties (net of related tax benefits) | $ | 47 | $ | 69 | $ | 67 | ||||||
As of December 31, 2012, the Company anticipates it is reasonably possible that its liability for unrecognized tax benefits may decrease by approximately $126 million within the next twelve months as the result of the possible closure of its 2005 through 2007 federal tax years, potential settlements with certain states and foreign countries and the lapse of the statute of limitations in various state and foreign jurisdictions. The potential decrease relates to various federal, state and foreign tax benefits including research and experimentation credits, transfer pricing adjustments and certain amortization and loss deductions. | ||||||||||||
The Company or one or more of its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. As of December 31, 2012, the Company was no longer subject to income tax examination by the U.S. federal jurisdiction for years before 2005. State and local examinations are substantially complete through 2002. Foreign jurisdictions generally remain subject to examination by their respective authorities from 2005 forward, none of which are considered major jurisdictions. | ||||||||||||
Under the Tax Allocation Agreement executed at the time of the spin-off of The Western Union Company (“Western Union”) on September 29, 2006, Western Union is responsible for and must indemnify the Company against all taxes, interest and penalties that relate to Western Union for periods prior to the spin-off date. If Western Union were to agree to or be finally determined to owe any amounts for such periods but were to default in its indemnification obligation under the Tax Allocation Agreement, the Company as parent of the tax group during such periods generally would be required to pay the amounts to the relevant tax authority, resulting in a potentially material adverse effect on the Company’s financial position and results of operations. As of December 31, 2012, the Company had approximately $110 million of income taxes payable, including approximately $4 million of uncertain income tax liabilities, recorded related to Western Union for periods prior to the spin-off date. The Company has recorded a corresponding account receivable of equal amount from Western Union, which is included as a long-term account receivable in the “Other long-term assets” line of the Company’s Consolidated Balance Sheets, reflecting the indemnification obligation. During the year ended December 31, 2012, the uncertain income tax liabilities related to Western Union decreased by approximately $14 million as a result of the closure of the 2003-2004 federal tax years. As of December 31, 2012, the Company anticipates it is reasonably possible that the uncertain tax liabilities related to Western Union may decrease by approximately $4 million within the next twelve months as the result of the possible closure of its 2005 and 2006 federal tax years. The uncertain income tax liabilities and corresponding receivable are based on information provided by Western Union regarding its tax contingency reserves for periods prior to the spin-off date. There is no assurance that a Western Union-related issue raised by the IRS or other tax authority will be finally resolved at a cost not in excess of the amount reserved and reflected in the Company’s uncertain income tax liabilities and corresponding receivable from Western Union. The Western Union contingent liability is in addition to the Company’s liability for unrecognized tax benefits discussed above. | ||||||||||||
The IRS completed its examination of the U.S. federal consolidated income tax returns of the Company for 2005-2007 and issued a 30-Day letter on October 31, 2012. The 30-Day letter claims that the Company and its subsidiaries, which included Western Union during some of the years at issue, owe additional taxes with respect to a variety of adjustments. The Company and Western Union agree with several of the adjustments in the 30-Day letter, such adjustments representing tax due of approximately $40 million. This undisputed tax and associated interest due (pretax) of approximately $16 million through December 31, 2012, have been fully reserved. The undisputed tax for which Western Union would be required to indemnify the Company is greater than the total tax due, such that settlement of the undisputed tax would result in a net refund to the Company. As to the adjustments that are disputed, such issues represent total taxes allegedly due of approximately $59 million, of which $40 million relates to the Company and $19 million relates to Western Union. The Company estimates that total interest due (pretax) on the disputed amounts is approximately $16 million through December 31, 2012, of which $9 million relates to the Company and $7 million relates to Western Union. As to the disputed issues, the Company and Western Union have contested the adjustments by filing a protest with the IRS. The IRS has prepared a rebuttal to the protest and has forwarded the case to Appeals. The Company believes that it has adequately reserved for the disputed issues in its liability for unrecognized tax benefits described above and that final resolution of those issues will not have a material adverse effect on its financial position or results of operations. |
Acquisition
Acquisition | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||
Acquisition | ' | ' | |||||||||||||||||||
Acquisition | ' | ' | |||||||||||||||||||
Note 14: Acquisition | Note 3: Business Combinations, Asset Acquisitions and Dispositions | ||||||||||||||||||||
In April 2012, the Company acquired the remaining approximately 30 percent noncontrolling interest in Omnipay, a provider of card and electronic payment processing services to merchant acquiring banks, for approximately 37.1 million euro, of which 19.0 million euro ($25.1 million) was paid in April 2012 and the remaining 18.1 million euro ($23.7 million) was paid in April 2013. | Initial Consideration (b) | ||||||||||||||||||||
Businesses and Assets Acquired (a) | Month | Total | Cash | ||||||||||||||||||
(in millions) | |||||||||||||||||||||
2012:00:00 | |||||||||||||||||||||
Purchase of noncontrolling interest in Omnipay | April | $ | 49 | $ | 25.1 | ||||||||||||||||
Clover Network, Inc. | December | 56.1 | 36.1 | ||||||||||||||||||
Merchant portfolio acquisitions | 1.9 | 1.9 | |||||||||||||||||||
$ | 107 | $ | 63.1 | ||||||||||||||||||
2011:00:00 | |||||||||||||||||||||
Merchant portfolio acquisitions | $ | 19.2 | $ | 19.2 | |||||||||||||||||
2010:00:00 | |||||||||||||||||||||
Redemption of Rockmount Investments, LLC (“Rockmount”) put in BAMS (c) | $ | 213.3 | $ | 213.3 | |||||||||||||||||
Merchant portfolio acquisitions | 1.8 | 1.8 | |||||||||||||||||||
$ | 215.1 | $ | 215.1 | ||||||||||||||||||
(a) Includes businesses and assets consolidated by the Company upon acquisition. For information related to equity method investments refer to Note 18 of these Consolidated Financial Statements. | |||||||||||||||||||||
(b) Includes cash acquired and debt assumed. | |||||||||||||||||||||
(c) Banc of America Merchant Services, LLC (“BAMS”) | |||||||||||||||||||||
2012 Acquisitions | |||||||||||||||||||||
In April 2012, the Company acquired the remaining approximately 30 percent noncontrolling interest in Omnipay for approximately 37.1 million euro, of which 19.0 million euro ($25.1 million) was paid in April 2012 with the remainder to be paid in April 2013. | |||||||||||||||||||||
In December 2012, the Company acquired 100% of Clover Network, Inc., a provider of payment network services for total consideration of $54.1 million, net of cash acquired. The transaction consisted of net cash consideration of $34.1 million as well as a series of contingent payments based on the achievement of specified sales targets. These contingent payments are classified as purchase consideration if made to outside investors and compensation if made to current and future employees. As part of the purchase price, the Company recorded a $20 million liability for the contingent consideration due to outside investors based upon the net present value of the Company’s estimate of the future payments. The acquisition will be reported as part of the Retail and Alliance Services segment. | |||||||||||||||||||||
2012 Disposition | |||||||||||||||||||||
During the year ended December 31, 2012, contingent consideration was recorded related to a small divestiture. The transaction called for a series of contingent payments based on revenue over three years. As part of the sale price, the Company recorded a $14 million asset for the contingent consideration due based upon the net present value of the Company’s estimate of future receipts from the buyer. | |||||||||||||||||||||
2011 Disposition | |||||||||||||||||||||
In November 2011, the Company contributed the assets of its transportation business to an alliance in exchange for a 30% noncontrolling interest in that alliance, as discussed in further detail in Note 18 of these Consolidated Financial Statements, and accordingly, the transportation business was deconsolidated. | |||||||||||||||||||||
2010 Redemption | |||||||||||||||||||||
On June 26, 2009, Bank of America N.A. (“BofA”) and the Company, together with Rockmount, an investment vehicle controlled by a third-party investor, formed a new company, BAMS. BAMS provides clients with a comprehensive suite of acquiring and processing payment products for credit and debit cards as well as merchant loyalty, prepaid, check and e-commerce solutions. | |||||||||||||||||||||
At the time of the formation, the Company owned a 48.45% direct voting interest in BAMS and Bank of America N.A. (“BofA”) owned a 46.55% direct voting interest. The remaining stake in BAMS was a 5% non-voting interest held by Rockmount. The Company owned a 40% noncontrolling interest in Rockmount. In May 2010, the third party owning a controlling interest in Rockmount exercised a put right on Rockmount’s beneficial interest in BAMS requiring net cash payments from FDC of $213 million. The redemption amount was based on Rockmount’s capital account balance in BAMS immediately prior to the redemption with an additional adjustment paid by the Company and Bank of America N.A. based on the level of BAMS revenues for the trailing 12 month period ended March 31, 2010. After redemption by Rockmount, the Company owns 51% of BAMS and Bank of America N.A. owns 49%. | |||||||||||||||||||||
2010 Disposition | |||||||||||||||||||||
During 2010, the Company received a contingent payment in connection with the November 2009 sale of a merchant acquiring business. | |||||||||||||||||||||
Other Information | |||||||||||||||||||||
The following table outlines the net assets acquired and net cash paid for acquisitions (at date of acquisition) for businesses and assets other than equity method investments: | |||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||
Fair value of net assets acquired | $ | 107 | $ | 19.2 | $ | 215.1 | |||||||||||||||
Less non-cash consideration | (43.9 | ) | — | — | |||||||||||||||||
Less cash acquired | (2.0 | ) | — | — | |||||||||||||||||
Net cash paid for acquisitions | $ | 61.1 | $ | 19.2 | $ | 215.1 | |||||||||||||||
The following table presents changes to goodwill for the years ended December 31, 2011 and 2012: | |||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Divested | Totals | |||||||||||||||
Alliance | Services | and | Operations | ||||||||||||||||||
Services | Corporate | ||||||||||||||||||||
Balance as of January 1, 2011 | |||||||||||||||||||||
Goodwill | $ | 14,065.70 | $ | 3,451.40 | $ | 2,657.10 | $ | 177 | $ | 181.3 | $ | 20,532.50 | |||||||||
Accumulated impairment losses | (1,106.5 | ) | (1,395.2 | ) | (375.6 | ) | (177.0 | ) | (181.3 | ) | (3,235.6 | ) | |||||||||
12,959.20 | 2,056.20 | 2,281.50 | — | — | 17,296.90 | ||||||||||||||||
Deconsolidation (a) | (42.8 | ) | — | — | — | — | (42.8 | ) | |||||||||||||
Purchase price adjustments | — | — | (4.5 | ) | — | — | (4.5 | ) | |||||||||||||
Other adjustments (primarily foreign currency) | — | — | (45.0 | ) | — | — | (45.0 | ) | |||||||||||||
Balance as of December 31, 2011 | |||||||||||||||||||||
Goodwill | 14,022.90 | 3,451.40 | 2,607.60 | 177 | 181.3 | 20,440.20 | |||||||||||||||
Accumulated impairment losses | (1,106.5 | ) | (1,395.2 | ) | (375.6 | ) | (177.0 | ) | (181.3 | ) | (3,235.6 | ) | |||||||||
12,916.40 | 2,056.20 | 2,232.00 | — | — | 17,204.60 | ||||||||||||||||
Acquisitions | 48.9 | — | — | — | — | 48.9 | |||||||||||||||
Impairments | — | (4.5 | ) | — | — | — | (4.5 | ) | |||||||||||||
Other adjustments (primarily foreign currency) | — | — | 33.5 | — | — | 33.5 | |||||||||||||||
Balance as of December 31, 2012 | |||||||||||||||||||||
Goodwill | 14,071.80 | 3,451.40 | 2,641.10 | 177 | 181.3 | 20,522.60 | |||||||||||||||
Accumulated impairment losses | (1,106.5 | ) | (1,399.7 | ) | (375.6 | ) | (177.0 | ) | (181.3 | ) | (3,240.1 | ) | |||||||||
$ | 12,965.30 | $ | 2,051.70 | $ | 2,265.50 | $ | — | $ | — | $ | 17,282.50 | ||||||||||
(a) Relates to the deconsolidation of the Company’s transportation business. Refer to Note 18 of these Consolidated Financial Statements for additional information. | |||||||||||||||||||||
Recovered_Sheet1
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 | |||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Change in cash and cash equivalents | (1.9 | ) | 16 | (37.9 | ) | — | (23.8 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 164.1 | 21.1 | 324.3 | — | 509.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 162.2 | $ | 37.1 | $ | 286.4 | $ | — | $ | 485.7 | ||||||||||||||||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | (1,506.3 | ) | 1,306.50 | 957.5 | (3.0 | ) | 754.7 | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 223.7 | 91.4 | (96.1 | ) | (548.2 | ) | (329.2 | ) | ||||||||||||||||||||||||||||||||||||||||||||
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 | ) | — | — | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Change in cash and cash equivalents | 59.5 | (4.3 | ) | (282.7 | ) | — | (227.5 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 104.6 | 25.4 | 607 | — | 737 | |||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 164.1 | $ | 21.1 | $ | 324.3 | $ | — | $ | 509.5 | ||||||||||||||||||||||||||||||||||||||||||
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
Basis of Presentation | ' | ' | |||||||||||||||||||||||
Use of Estimates | ' | ' | |||||||||||||||||||||||
Use of Estimates | Use of Estimates | ||||||||||||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results could differ from these estimates. | The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates. | ||||||||||||||||||||||||
Presentation | ' | ' | |||||||||||||||||||||||
Presentation | Presentation | ||||||||||||||||||||||||
Depreciation and amortization presented as a separate line item on the Company’s Consolidated Statements of Operations does not include amortization of initial payments for new contracts which is recorded as a contra-revenue within “Transaction and processing service fees.” Also not included is amortization related to equity method investments which is netted within the “Equity earnings in affiliates” line. The following table presents the amounts associated with such amortization: | Depreciation and amortization presented as a separate line item on the Company’s Consolidated Statements of Operations does not include amortization of initial payments for new contracts which is recorded as a contra-revenue within “Transaction and processing service fees.” Also not included is amortization related to equity method investments which is netted within the “Equity earnings in affiliates” line. The following table presents the amounts associated with such amortization: | ||||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | |||||||||||||||||||||||
September 30, | September 30, | (in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Amortization of initial payments for new contracts | $ | 44.5 | $ | 42.5 | $ | 38.6 | ||||||||||||||
Amortization of initial payments for new contracts | $ | 10.4 | $ | 12 | $ | 30.7 | $ | 33.7 | Amortization related to equity method investments | $ | 94.8 | $ | 56.7 | $ | 73 | ||||||||||
Amortization related to equity method investments | $ | 19.7 | $ | 21.4 | $ | 59.2 | $ | 73.3 | |||||||||||||||||
In 2011, the Company recorded a net $58.5 million pretax ($35.2 million after tax) benefit in the Consolidated Statement of Operations to correct cumulative depreciation and amortization errors related to purchase accounting associated with the Company’s 2007 merger with an affiliate of Kohlberg Kravis Roberts & Co. The corrections impacted “Costs of services” ($10.2 million expense), “Depreciation and amortization” ($57.7 million benefit) and amortization of equity method investments within “Equity earnings in affiliates” ($11.0 million benefit). The errors and the cumulative correction, which totaled $58.5 million in aggregate and occurred over a four year period, were deemed immaterial to prior years and the current year, respectively. | |||||||||||||||||||||||||
Revenue Recognition | ' | ' | |||||||||||||||||||||||
Revenue Recognition | Revenue Recognition | ||||||||||||||||||||||||
The Company recognizes revenues from its processing services as such services are performed. Revenue is recorded net of certain costs such as credit and offline debit interchange fees and assessments charged by credit card associations. Debit network fees related to acquired personal identification number based debit (“PIN-debit”) transactions are recognized in the “Reimbursable debit network fees, postage and other” revenue and expense lines of the Consolidated Statements of Operations. The following table presents the amounts associated with processing services revenue: | The majority of the Company’s revenues are comprised of transaction-based fees, which typically constitute a percentage of dollar volume processed, or a fee per transaction processed, or account on file or some combination thereof. In limited circumstances, revenue is allocated to the separate units of accounting in a multiple element transaction based on relative selling prices, provided each element has stand alone value to the customer, and delivery of any undelivered items is probable and substantially within the Company’s control. | ||||||||||||||||||||||||
Three months ended | Nine months ended | In the case of merchant contracts that the Company owns and manages, revenue is primarily comprised of fees charged to the merchant, net of interchange and assessments charged by the credit card associations, and is recognized at the time of sale. The fees charged to the merchant are a percentage of the credit card and signature based debit card transaction’s dollar value, a fixed amount or a combination of the two. Personal identification number based debit (“PIN-debit”) network fees are recognized in “Reimbursable debit network fees, postage and other” revenues and expenses in the Consolidated Statements of Operations. STAR network access fees charged to merchants are assessed on a per transaction basis. | |||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Interchange fees and assessments charged by credit card associations to the Company’s consolidated subsidiaries and network fees related to PIN-debit transactions charged by debit networks are as follows: | ||||||||||||||||||||
Interchange fees and assessments | $ | 4,925.00 | $ | 4,669.40 | $ | 14,319.70 | $ | 13,588.30 | |||||||||||||||||
Debit network fees | $ | 727.9 | $ | 702 | $ | 2,157.00 | $ | 2,070.90 | Year ended December 31, | ||||||||||||||||
(in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Interchange fees and assessments | $ | 18,373.00 | $ | 18,826.10 | $ | 17,834.80 | |||||||||||||||||||
Debit network fees | 2,786.30 | 2,959.10 | 2,798.30 | ||||||||||||||||||||||
The Company charges processing fees to its merchant alliances. In situations where an alliance is accounted for under the equity method, the Company’s consolidated revenues include the processing fees charged to the alliance, as presented on the face of the Consolidated Statements of Operations. | |||||||||||||||||||||||||
Revenue from check verification, settlement and guarantee services is recognized at the time of sale less the fair value of the guarantee. The fair value of the guarantee is deferred until the later of the Company being called upon to honor the guarantee or the expiration of the guarantee. Check verification fees generally are a fixed amount per transaction while check guarantee fees generally are a percentage of the check amount. | |||||||||||||||||||||||||
The purchase and sale of merchant contracts is an ordinary element of the Company’s Retail and Alliance Services and International businesses, and therefore, the gains from selling these revenue-generating assets are included within the “Product sales and other” component of revenues. | |||||||||||||||||||||||||
Fees based on cardholder accounts on file, both active and inactive, are recognized after the requisite services or period has occurred. Fees for PIN-debit transactions where the Company is the debit card processor for the financial institution are recognized on a per transaction basis. Revenues for output services are derived primarily on a per piece basis and consist of fees for the production, materials and postage related to mailing finished products. | |||||||||||||||||||||||||
Software licensing revenue, which is reported in the “Product sales and other” line item of the Consolidated Statements of Operations, is not recognized until each of the following four criteria are met: evidence of an agreement exists, delivery and acceptance has occurred or services have been rendered, the selling price is fixed or determinable, and collection of the selling price is reasonably assured. | |||||||||||||||||||||||||
The sale and leasing of point-of-sale (“POS”) devices (“terminals”) are also reported in “Product sales and other”. Revenue for terminals sold or sold under a sales-type lease transaction is recognized when the following four criteria are met: evidence of an agreement exists, delivery has occurred, the selling price or minimum lease payments are fixed or determinable, and collection of the selling price or minimum lease payments is reasonably assured. Revenue for operating leases is recognized on a straight-line basis over the lease term. | |||||||||||||||||||||||||
The official check and money order services and merchant acquiring business generate revenue through the ability to invest funds pending settlement. Gains and losses associated with the above noted investments are recognized in revenue. | |||||||||||||||||||||||||
Services not specifically described above are generally transaction based fees that are recognized at the time the transactions are processed or programming services that are recorded as work is performed. | |||||||||||||||||||||||||
New Accounting Guidance | ' | ' | |||||||||||||||||||||||
New Accounting Guidance | New Accounting Guidance | ||||||||||||||||||||||||
In March 2013, the Financial Accounting Standards Board issued guidance that resolves diversity in practice as to when to release the cumulative translation adjustment into net income when a parent ceases to have a controlling interest in a subsidiary within a foreign entity or sells a part or all of its investment in a foreign entity. The guidance also resolves diversity in the accounting for the cumulative translation adjustment in a business combination achieved in stages involving a foreign entity. The Company adopted the guidance as of January 1, 2013. Adoption did not have an impact on the Company’s financial position or results of operations. | In July 2012, the Financial Accounting Standards Board issued guidance related to testing indefinite-lived intangibles for impairment. Under the amended guidance, an entity has the option of first assessing qualitative factors to determine whether events and circumstances indicate that it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount. If it is determined that the fair value is more likely than not greater than the carrying amount, then quantitative impairment testing is unnecessary. The Company adopted the amendments for its 2012 annual impairment test. After performing a qualitative assessment, the Company proceeded to a quantitative impairment test. | ||||||||||||||||||||||||
Basis_of_Presentation_Tables
Basis of Presentation (Tables) | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
Basis of Presentation | ' | ' | |||||||||||||||||||||||
Schedule of amounts associated with amortization of initial payments for new contracts and equity method investments | ' | ' | |||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | |||||||||||||||||||||||
September 30, | September 30, | (in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Amortization of initial payments for new contracts | $ | 44.5 | $ | 42.5 | $ | 38.6 | ||||||||||||||
Amortization of initial payments for new contracts | $ | 10.4 | $ | 12 | $ | 30.7 | $ | 33.7 | Amortization related to equity method investments | $ | 94.8 | $ | 56.7 | $ | 73 | ||||||||||
Amortization related to equity method investments | $ | 19.7 | $ | 21.4 | $ | 59.2 | $ | 73.3 | |||||||||||||||||
Schedule of amounts associated with processing services revenue | ' | ' | |||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | |||||||||||||||||||||||
September 30, | September 30, | (in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Interchange fees and assessments | $ | 18,373.00 | $ | 18,826.10 | $ | 17,834.80 | ||||||||||||||
Interchange fees and assessments | $ | 4,925.00 | $ | 4,669.40 | $ | 14,319.70 | $ | 13,588.30 | Debit network fees | 2,786.30 | 2,959.10 | 2,798.30 | |||||||||||||
Debit network fees | $ | 727.9 | $ | 702 | $ | 2,157.00 | $ | 2,070.90 | |||||||||||||||||
Supplemental_Financial_Informa5
Supplemental Financial Information (Tables) | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
Supplemental Financial Information | ' | ' | |||||||||||||||||||||||
Schedule of the components of other income (expense) | ' | ' | |||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | |||||||||||||||||||||||
September 30, | September 30, | (in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Investment (losses) and gains | $ | (7.7 | ) | $ | — | $ | 2.5 | |||||||||||||
Investment (losses) and gains | $ | — | $ | (8.1 | ) | $ | 2.3 | $ | (7.8 | ) | Derivative financial instruments (losses) and gains | (91.4 | ) | 58.2 | (58.3 | ) | |||||||||
Derivative financial instruments losses | (25.5 | ) | (43.0 | ) | (11.3 | ) | (86.8 | ) | Divestitures, net | — | 57.4 | 18.7 | |||||||||||||
Divestitures, net | 2.3 | — | 2.3 | — | Non-operating foreign currency gains | 4.8 | 5.3 | 21.2 | |||||||||||||||||
Non-operating foreign currency (losses) and gains | (13.0 | ) | (0.9 | ) | (14.2 | ) | 11.8 | Other | — | 3.2 | — | ||||||||||||||
Other income (expense) | $ | (36.2 | ) | $ | (52.0 | ) | $ | (20.9 | ) | $ | (82.8 | ) | Other income (expense) | $ | (94.3 | ) | $ | 124.1 | $ | (15.9 | ) |
Restructuring_Tables1
Restructuring (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||
Restructuring | ' | ' | ||||||||||||||||||||||||||||||||||
Summary of net pretax benefits (charges), incurred by segment | ' | ' | ||||||||||||||||||||||||||||||||||
Pretax Benefit (Charge) | Pretax Benefit (Charge) | |||||||||||||||||||||||||||||||||||
(in millions) | Approximate | Retail and | Financial | International | All Other and | Totals | (in millions) | Retail and | Financial | International | All Other | Totals | ||||||||||||||||||||||||
Number of | Alliance | Services | Corporate | Alliance | Services | and | ||||||||||||||||||||||||||||||
Employees | Services | Services | Corporate | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||
Restructuring charges | 100 | $ | (1.8 | ) | $ | (3.6 | ) | $ | (0.6 | ) | $ | (4.1 | ) | $ | (10.1 | ) | Restructuring charges | $ | (7.5 | ) | $ | — | $ | (18.5 | ) | $ | (2.2 | ) | $ | (28.2 | ) | |||||
Restructuring accrual reversals | 1.2 | 0.2 | 0.6 | 0.3 | 2.3 | Restructuring accrual reversals | 1 | — | 2.8 | 1.3 | 5.1 | |||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (0.6 | ) | $ | (3.4 | ) | $ | — | $ | (3.8 | ) | $ | (7.8 | ) | Total pretax charge, net of reversals | $ | (6.5 | ) | $ | — | $ | (15.7 | ) | $ | (0.9 | ) | $ | (23.1 | ) | |||||||
Nine months ended September 30, 2013 | Year ended December 31, 2011 | |||||||||||||||||||||||||||||||||||
Restructuring charges | 460 | $ | (16.9 | ) | $ | (8.5 | ) | $ | (1.4 | ) | $ | (22.4 | ) | $ | (49.2 | ) | Restructuring charges | $ | (2.8 | ) | $ | (10.5 | ) | $ | (34.2 | ) | $ | (3.8 | ) | $ | (51.3 | ) | ||||
Restructuring accrual reversals | 1.9 | 0.2 | 0.6 | 0.5 | 3.2 | Restructuring accrual reversals | 1.1 | — | 2.5 | 1.3 | 4.9 | |||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (15.0 | ) | $ | (8.3 | ) | $ | (0.8 | ) | $ | (21.9 | ) | $ | (46.0 | ) | Total pretax charge, net of reversals | $ | (1.7 | ) | $ | (10.5 | ) | $ | (31.7 | ) | $ | (2.5 | ) | $ | (46.4 | ) | |||||
Three months ended September 30, 2012 | Year ended December 31, 2010 | |||||||||||||||||||||||||||||||||||
Restructuring charges | 10 | $ | (4.4 | ) | $ | — | $ | (1.7 | ) | $ | (1.2 | ) | $ | (7.3 | ) | Restructuring charges | $ | (20.3 | ) | $ | (11.3 | ) | $ | (28.2 | ) | $ | (27.7 | ) | $ | (87.5 | ) | |||||
Restructuring accrual reversals | — | — | 0.1 | — | 0.1 | Restructuring accrual reversals | 0.7 | 0.8 | 10.9 | 3.1 | 15.5 | |||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (4.4 | ) | $ | — | $ | (1.6 | ) | $ | (1.2 | ) | $ | (7.2 | ) | Total pretax charge, net of reversals | $ | (19.6 | ) | $ | (10.5 | ) | $ | (17.3 | ) | $ | (24.6 | ) | $ | (72.0 | ) | ||||||
Nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Restructuring charges | 580 | $ | (7.4 | ) | $ | — | $ | (17.8 | ) | $ | (2.0 | ) | $ | (27.2 | ) | |||||||||||||||||||||
Restructuring accrual reversals | 1 | — | 0.8 | 1.3 | 3.1 | |||||||||||||||||||||||||||||||
Total pretax charge, net of reversals | $ | (6.4 | ) | $ | — | $ | (17.0 | ) | $ | (0.7 | ) | $ | (24.1 | ) | ||||||||||||||||||||||
Summary of utilization of restructuring accruals | ' | ' | ||||||||||||||||||||||||||||||||||
(in millions) | Employee | (in millions) | Employee | Facility | ||||||||||||||||||||||||||||||||
Severance | Severance | Closure | ||||||||||||||||||||||||||||||||||
Remaining accrual as of January 1, 2013 | $ | 13.1 | Remaining accrual as of January 1, 2011 | $ | 38.7 | $ | 0.2 | |||||||||||||||||||||||||||||
Expense provision | 49.2 | Expense provision | 45 | 6.3 | ||||||||||||||||||||||||||||||||
Cash payments and other | (30.3 | ) | Cash payments and other | (62.2 | ) | (5.5 | ) | |||||||||||||||||||||||||||||
Changes in estimates | (3.2 | ) | Changes in estimates | (4.8 | ) | (0.1 | ) | |||||||||||||||||||||||||||||
Remaining accrual as of September 30, 2013 | $ | 28.8 | Remaining accrual as of December 31, 2011 | 16.7 | 0.9 | |||||||||||||||||||||||||||||||
Expense provision | 28.2 | — | ||||||||||||||||||||||||||||||||||
Cash payments and other | (26.8 | ) | (0.8 | ) | ||||||||||||||||||||||||||||||||
Changes in estimates | (5.0 | ) | (0.1 | ) | ||||||||||||||||||||||||||||||||
Remaining accrual as of December 31, 2012 | $ | 13.1 | $ | — | ||||||||||||||||||||||||||||||||
Segment_Information_Tables1
Segment Information (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
Segment Information | ' | ' | ||||||||||||||||||||||||||||||||
Schedule of operating segment results | ' | ' | ||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | (in millions) | Retail and | Financial | International | All Other and | Totals | |||||||||||||||||||||||
Alliance | Services | and | Alliance | Services | Corporate | |||||||||||||||||||||||||||||
Services | Corporate | Services | ||||||||||||||||||||||||||||||||
Revenues: | Revenues: | |||||||||||||||||||||||||||||||||
Transaction and processing service fees | $ | 819.8 | $ | 331.1 | $ | 331.4 | $ | 18.8 | $ | 1,501.10 | Transaction and processing service fees | $ | 3,198.80 | $ | 1,350.00 | $ | 1,291.20 | $ | 85.2 | $ | 5,925.20 | |||||||||||||
Product sales and other | 96.9 | 15.3 | 92.8 | 13.2 | 218.2 | Product sales and other | 404 | 40.1 | 391 | 39.8 | 874.9 | |||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 7.4 | — | 7.4 | Equity earnings in affiliates (a) | — | — | 36.2 | — | 36.2 | |||||||||||||||||||||||
Total segment reporting revenues | $ | 916.7 | $ | 346.4 | $ | 431.6 | $ | 32 | $ | 1,726.70 | Total segment reporting revenues | $ | 3,602.80 | $ | 1,390.10 | $ | 1,718.40 | $ | 125 | $ | 6,836.30 | |||||||||||||
Internal revenue | $ | 5.8 | $ | 9.1 | $ | 2.6 | $ | — | $ | 17.5 | Internal revenue | $ | 20.2 | $ | 31.5 | $ | 9.9 | $ | — | $ | 61.6 | |||||||||||||
External revenue | $ | 910.9 | $ | 337.3 | $ | 429 | $ | 32 | $ | 1,709.20 | External revenue | 3,582.60 | 1,358.60 | 1,708.50 | 125 | 6,774.70 | ||||||||||||||||||
Depreciation and amortization | $ | 114.1 | $ | 82.5 | $ | 65 | $ | 9.4 | $ | 271 | Depreciation and amortization | 520.1 | 337.2 | 282.9 | 45.1 | 1,185.30 | ||||||||||||||||||
Segment EBITDA | $ | 410.3 | $ | 162.7 | $ | 126 | $ | (71.9 | ) | $ | 627.1 | Segment EBITDA | 1,594.80 | 603.1 | 483.8 | (246.0 | ) | 2,435.70 | ||||||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | (16.8 | ) | $ | (3.5 | ) | $ | (7.3 | ) | $ | (18.7 | ) | $ | (46.3 | ) | Other operating expenses and other income (expense) excluding divestitures | (29.1 | ) | (5.1 | ) | (24.3 | ) | (64.0 | ) | (122.5 | ) | ||||||||
Expenditures for long-lived assets | 25.1 | 49.2 | 163.9 | 132.1 | 370.3 | |||||||||||||||||||||||||||||
Three months ended September 30, 2012 | Equity earnings in affiliates | 137.8 | — | 20.4 | — | 158.2 | ||||||||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | Investment in unconsolidated affiliates | 1,219.60 | — | 193.5 | — | 1,413.10 | |||||||||||||||||||||||
Alliance | Services | and | ||||||||||||||||||||||||||||||||
Services | Corporate | Year ended December 31, 2011 | ||||||||||||||||||||||||||||||||
Revenues: | (in millions) | Retail and | Financial | International | All Other and | Totals | ||||||||||||||||||||||||||||
Transaction and processing service fees | $ | 807.6 | $ | 334.5 | $ | 321.9 | $ | 19.3 | $ | 1,483.30 | Alliance | Services | Corporate | |||||||||||||||||||||
Product sales and other | 102.6 | 12.6 | 95.8 | 9.1 | 220.1 | Services | ||||||||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 9.3 | — | 9.3 | Revenues: | ||||||||||||||||||||||||||||
Total segment reporting revenues | $ | 910.2 | $ | 347.1 | $ | 427 | $ | 28.4 | $ | 1,712.70 | Transaction and processing service fees | $ | 2,974.50 | $ | 1,350.00 | $ | 1,337.90 | $ | 108.3 | $ | 5,770.70 | |||||||||||||
Internal revenue | $ | 5.4 | $ | 7.8 | $ | 2.3 | $ | — | $ | 15.5 | Product sales and other | 407.5 | 29.5 | 388.8 | 32.9 | 858.7 | ||||||||||||||||||
External revenue | $ | 904.8 | $ | 339.3 | $ | 424.7 | $ | 28.4 | $ | 1,697.20 | Equity earnings in affiliates (a) | — | — | 34.6 | — | 34.6 | ||||||||||||||||||
Depreciation and amortization | $ | 125.5 | $ | 83.6 | $ | 69.9 | $ | 10.4 | $ | 289.4 | Total segment reporting revenues | $ | 3,382.00 | $ | 1,379.50 | $ | 1,761.30 | $ | 141.2 | $ | 6,664.00 | |||||||||||||
Segment EBITDA | $ | 409.4 | $ | 149.5 | $ | 119.5 | $ | (69.9 | ) | $ | 608.5 | Internal revenue | $ | 17.5 | $ | 37.8 | $ | 9.8 | $ | — | $ | 65.1 | ||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | (21.9 | ) | $ | — | $ | (5.4 | ) | $ | (31.9 | ) | $ | (59.2 | ) | External revenue | 3,364.50 | 1,341.70 | 1,751.50 | 141.2 | 6,598.90 | ||||||||||||||
Depreciation and amortization | 571.1 | 347.7 | 222.7 | 45.1 | 1,186.60 | |||||||||||||||||||||||||||||
Nine months ended September 30, 2013 | Segment EBITDA | 1,407.50 | 593.5 | 454.3 | (206.8 | ) | 2,248.50 | |||||||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | Other operating expenses and other income (expense) excluding divestitures | (0.4 | ) | (10.5 | ) | (12.1 | ) | 45.8 | 22.8 | ||||||||||||||||||||
Alliance | Services | and | Expenditures for long-lived assets | 33.4 | 60 | 168 | 143.4 | 404.8 | ||||||||||||||||||||||||||
Services | Corporate | Equity earnings in affiliates | 118.5 | — | 34.9 | — | 153.4 | |||||||||||||||||||||||||||
Revenues: | Investment in unconsolidated affiliates | 1,288.90 | — | 201.7 | — | 1,490.60 | ||||||||||||||||||||||||||||
Transaction and processing service fees | $ | 2,414.60 | $ | 979.5 | $ | 973 | $ | 57 | $ | 4,424.10 | ||||||||||||||||||||||||
Product sales and other | 291.7 | 34.7 | 269.5 | 33.5 | 629.4 | Year ended December 31, 2010 | ||||||||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 22.6 | — | 22.6 | (in millions) | Retail and | Financial | International | All Other and | Totals | |||||||||||||||||||||||
Total segment reporting revenues | $ | 2,706.30 | $ | 1,014.20 | $ | 1,265.10 | $ | 90.5 | $ | 5,076.10 | Alliance | Services | Corporate | |||||||||||||||||||||
Internal revenue | $ | 16.7 | $ | 25.5 | $ | 7.5 | $ | — | $ | 49.7 | Services | |||||||||||||||||||||||
External revenue | $ | 2,689.60 | $ | 988.7 | $ | 1,257.60 | $ | 90.5 | $ | 5,026.40 | Revenues: | |||||||||||||||||||||||
Depreciation and amortization | $ | 338.2 | $ | 245.7 | $ | 198.5 | $ | 34.7 | $ | 817.1 | Transaction and processing service fees | $ | 2,923.90 | $ | 1,362.20 | $ | 1,237.50 | $ | 126.8 | $ | 5,650.40 | |||||||||||||
Segment EBITDA | $ | 1,193.80 | $ | 446.5 | $ | 341.6 | $ | (201.7 | ) | $ | 1,780.20 | Product sales and other | 390.9 | 46.8 | 353.9 | 23.9 | 815.5 | |||||||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | 10.8 | $ | (8.4 | ) | $ | 18.1 | $ | (89.7 | ) | $ | (69.2 | ) | Equity earnings in affiliates (a) | — | — | 29.4 | — | 29.4 | |||||||||||||||
Total segment reporting revenues | $ | 3,314.80 | $ | 1,409.00 | $ | 1,620.80 | $ | 150.7 | $ | 6,495.30 | ||||||||||||||||||||||||
Nine months ended September 30, 2012 | Internal revenue | $ | 18 | $ | 36 | $ | 8.4 | $ | — | $ | 62.4 | |||||||||||||||||||||||
(in millions) | Retail and | Financial | International | All Other | Totals | External revenue | 3,296.80 | 1,373.00 | 1,612.40 | 150.7 | 6,432.90 | |||||||||||||||||||||||
Alliance | Services | and | Depreciation and amortization | 676.2 | 362.9 | 289.9 | 51.2 | 1,380.20 | ||||||||||||||||||||||||||
Services | Corporate | Segment EBITDA | 1,322.30 | 553 | 329.8 | (178.1 | ) | 2,027.00 | ||||||||||||||||||||||||||
Revenues: | Other operating expenses and other income (expense) excluding divestitures | (60.2 | ) | (8.5 | ) | (26.4 | ) | (21.0 | ) | (116.1 | ) | |||||||||||||||||||||||
Transaction and processing service fees | $ | 2,363.40 | $ | 1,011.40 | $ | 952.6 | $ | 66.3 | $ | 4,393.70 | Expenditures for long-lived assets | 27.9 | 69.9 | 171.3 | 100.6 | 369.7 | ||||||||||||||||||
Product sales and other | 308 | 30 | 276 | 30.8 | 644.8 | Equity earnings in affiliates | 104.8 | — | 12.5 | — | 117.3 | |||||||||||||||||||||||
Equity earnings in affiliates (a) | — | — | 27.9 | — | 27.9 | Investment in unconsolidated affiliates | 1,013.50 | — | 194.7 | — | 1,208.20 | |||||||||||||||||||||||
Total segment reporting revenues | $ | 2,671.40 | $ | 1,041.40 | $ | 1,256.50 | $ | 97.1 | $ | 5,066.40 | ||||||||||||||||||||||||
Internal revenue | $ | 14.9 | $ | 23.4 | $ | 6.8 | $ | — | $ | 45.1 | ||||||||||||||||||||||||
External revenue | $ | 2,656.50 | $ | 1,018.00 | $ | 1,249.70 | $ | 97.1 | $ | 5,021.30 | ||||||||||||||||||||||||
Depreciation and amortization | $ | 391.5 | $ | 255.5 | $ | 213.2 | $ | 33.5 | $ | 893.7 | ||||||||||||||||||||||||
Segment EBITDA | $ | 1,176.60 | $ | 457.2 | $ | 332.4 | $ | (186.0 | ) | $ | 1,780.20 | |||||||||||||||||||||||
Other operating expenses and other income (expense) excluding divestitures | $ | (28.8 | ) | $ | (5.1 | ) | $ | (25.7 | ) | $ | (52.4 | ) | $ | (112.0 | ) | |||||||||||||||||||
Schedule of reconciliation of reportable segment amounts to the consolidated balances | ' | ' | ||||||||||||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | ||||||||||||||||||||||||||||||||
September 30, | September 30, | (in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Segment Revenues: | |||||||||||||||||||||||||||||
Segment Revenues: | Total reported segments | $ | 6,711.30 | $ | 6,522.80 | $ | 6,344.60 | |||||||||||||||||||||||||||
Total reported segments | $ | 1,694.70 | $ | 1,684.30 | $ | 4,985.60 | $ | 4,969.30 | All Other and Corporate | 125 | 141.2 | 150.7 | ||||||||||||||||||||||
All Other and Corporate | 32 | 28.4 | 90.5 | 97.1 | Adjustments to reconcile to Adjusted revenue: | |||||||||||||||||||||||||||||
Adjustment to reconcile to Adjusted revenue: | Official check and money order revenues (b) | (12.7 | ) | (9.9 | ) | 8 | ||||||||||||||||||||||||||||
Official check and money order revenues (b) | (0.8 | ) | (2.3 | ) | (3.2 | ) | (11.9 | ) | Eliminations of intersegment revenues | (61.6 | ) | (65.1 | ) | (62.4 | ) | |||||||||||||||||||
Eliminations of intersegment revenues | (17.5 | ) | (15.5 | ) | (49.7 | ) | (45.1 | ) | Adjusted revenue | 6,762.00 | 6,589.00 | 6,440.90 | ||||||||||||||||||||||
Adjusted revenue | 1,708.40 | 1,694.90 | 5,023.20 | 5,009.40 | Adjustments to reconcile to Consolidated revenues: | |||||||||||||||||||||||||||||
Adjustments to reconcile to Consolidated revenues: | Adjustments for non-wholly-owned entities (c) | 73.2 | 179.7 | 224.1 | ||||||||||||||||||||||||||||||
Adjustments for non-wholly-owned entities (c) | 3 | 11.8 | 26.3 | 48.5 | Official check and money order revenues | 12.7 | 9.9 | (8.0 | ) | |||||||||||||||||||||||||
Official check and money order revenues (b) | 0.8 | 2.3 | 3.2 | 11.9 | ISO commission expense | 470.9 | 403.5 | 333.8 | ||||||||||||||||||||||||||
ISO commission expense | 123.5 | 120.6 | 362.6 | 355.7 | Reimbursable debit network fees, postage and other | 3,361.50 | 3,531.50 | 3,389.60 | ||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | 876.4 | 844.4 | 2,596.50 | 2,498.00 | Consolidated revenues | $ | 10,680.30 | $ | 10,713.60 | $ | 10,380.40 | |||||||||||||||||||||||
Consolidated revenues | $ | 2,712.10 | $ | 2,674.00 | $ | 8,011.80 | $ | 7,923.50 | Segment EBITDA: | |||||||||||||||||||||||||
Segment EBITDA: | Total reported segments | $ | 2,681.70 | $ | 2,455.30 | $ | 2,205.10 | |||||||||||||||||||||||||||
Total reported segments | $ | 699 | $ | 678.4 | $ | 1,981.90 | $ | 1,966.20 | All Other and Corporate | (246.0 | ) | (206.8 | ) | (178.1 | ) | |||||||||||||||||||
All Other and Corporate | (71.9 | ) | (69.9 | ) | (201.7 | ) | (186.0 | ) | Adjusted EBITDA | 2,435.70 | 2,248.50 | 2,027.00 | ||||||||||||||||||||||
Adjusted EBITDA | 627.1 | 608.5 | 1,780.20 | 1,780.20 | Adjustments to reconcile to Net loss attributable to First Data Corporation: | |||||||||||||||||||||||||||||
Adjustments to reconcile to “Net loss attributable to First Data Corporation”: | Divested businesses | — | — | 1.1 | ||||||||||||||||||||||||||||||
Adjustments for non-wholly-owned entities (c) | 0.5 | 4.1 | 3.2 | 3.8 | Adjustments for non-wholly-owned entities (c) | 6.8 | 59.5 | 34.3 | ||||||||||||||||||||||||||
Depreciation and amortization | (271.3 | ) | (293.5 | ) | (818.2 | ) | (897.1 | ) | Depreciation and amortization | (1,191.6 | ) | (1,245.0 | ) | (1,414.4 | ) | |||||||||||||||||||
Interest expense | (469.0 | ) | (488.6 | ) | (1,410.2 | ) | (1,430.4 | ) | Interest expense | (1,897.8 | ) | (1,833.1 | ) | (1,796.6 | ) | |||||||||||||||||||
Interest income | 2.7 | 2.1 | 8 | 6.3 | Interest income | 8.8 | 7.9 | 7.8 | ||||||||||||||||||||||||||
Other items (d) | (49.8 | ) | (70.8 | ) | (86.4 | ) | (137.1 | ) | Other items (d) | (156.9 | ) | 62.4 | (97.4 | ) | ||||||||||||||||||||
Income tax (expense) benefit | (28.6 | ) | 69.4 | (101.7 | ) | 252.3 | Income tax benefit | 224 | 270.1 | 323.8 | ||||||||||||||||||||||||
Stock-based compensation | (5.5 | ) | (3.4 | ) | (36.1 | ) | (10.4 | ) | Stock based compensation | (11.8 | ) | (16.9 | ) | (16.1 | ) | |||||||||||||||||||
Official check and money order EBITDA (b) | 0.4 | 1.4 | 1.9 | 6.2 | Official check and money order EBITDA (b) | 6.4 | (0.5 | ) | (21.2 | ) | ||||||||||||||||||||||||
Costs of alliance conversions | (17.8 | ) | (22.8 | ) | (59.1 | ) | (56.5 | ) | Costs of alliance conversions | (77.2 | ) | (28.4 | ) | (25.7 | ) | |||||||||||||||||||
KKR related items | (8.3 | ) | (8.4 | ) | (24.4 | ) | (25.2 | ) | Stock plan modification expenses | — | — | (7.8 | ) | |||||||||||||||||||||
Debt issuance costs | 0.1 | (10.0 | ) | (3.2 | ) | (14.0 | ) | KKR related items | (33.6 | ) | (37.4 | ) | (28.5 | ) | ||||||||||||||||||||
Net loss attributable to First Data Corporation | $ | (219.5 | ) | $ | (212.0 | ) | $ | (746.0 | ) | $ | (521.9 | ) | Debt issuance costs | (13.7 | ) | (3.2 | ) | (8.1 | ) | |||||||||||||||
Net loss attributable to First Data Corporation | $ | (700.9 | ) | $ | (516.1 | ) | $ | (1,021.8 | ) | |||||||||||||||||||||||||
(a) Excludes equity losses that were recorded in expense and the amortization related to the excess of the investment balance over the Company’s proportionate share of the investee’s net book value for the International segment. | ||||||||||||||||||||||||||||||||||
(b) Represents an adjustment to exclude the official check and money order businesses from revenue and EBITDA due to the Company’s wind down of these businesses. | ||||||||||||||||||||||||||||||||||
(c) Represents the net adjustment to reflect First Data’s proportionate share of alliance revenue and EBITDA within the Retail and Alliance Services segment, equity earnings in affiliates included in International segment revenue and amortization related to equity method investments not included in segment EBITDA. | (a) Excludes equity losses that were recorded in expense and the amortization related to the excess of the investment balance over the Company’s proportionate share of the investee’s net book value for the International segment. | |||||||||||||||||||||||||||||||||
(d) Includes restructuring, certain retention bonuses, litigation and regulatory settlements, and impairments as applicable to the periods presented and “Other income (expense)” as presented in the Consolidated Statements of Operations. | (b) Represents an adjustment to exclude the official check and money order businesses from revenue and EBITDA due to the Company’s wind down of these businesses. | |||||||||||||||||||||||||||||||||
(c) Net adjustment to reflect First Data’s proportionate share of alliance revenue and EBITDA within the Retail and Alliance Services segment, equity earnings in affiliates included in International segment revenue and amortization related to equity method investments not included in segment EBITDA. | ||||||||||||||||||||||||||||||||||
(d) Includes restructuring, litigation and regulatory settlements and impairments as applicable to the periods presented and “Other income (expense)” as presented in the Consolidated Statement of Operations. | ||||||||||||||||||||||||||||||||||
Schedule of segment assets | ' | ' | ||||||||||||||||||||||||||||||||
(in millions) | As of September 30, | As of December 31, | As of December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | (in millions) | 2012 | 2011 | ||||||||||||||||||||||||||||||
Assets: | Assets: | |||||||||||||||||||||||||||||||||
Retail and Alliance Services | $ | 25,607.60 | $ | 25,885.70 | Retail and Alliance Services | $ | 25,885.70 | $ | 27,882.20 | |||||||||||||||||||||||||
Financial Services | 4,192.30 | 4,477.10 | Financial Services | 4,477.10 | 4,647.80 | |||||||||||||||||||||||||||||
International | 5,061.40 | 5,305.70 | International | 5,305.70 | 5,332.90 | |||||||||||||||||||||||||||||
All Other and Corporate | 1,982.40 | 2,230.50 | All Other and Corporate | 2,230.50 | 2,413.40 | |||||||||||||||||||||||||||||
Consolidated | $ | 36,843.70 | $ | 37,899.00 | Consolidated | $ | 37,899.00 | $ | 40,276.30 | |||||||||||||||||||||||||
Schedule of reconciliation of reportable segment depreciation and amortization amounts to the consolidated balances | ' | ' | ||||||||||||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | ||||||||||||||||||||||||||||||||
September 30, | September 30, | (in millions) | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Depreciation and Amortization: | |||||||||||||||||||||||||||||
Depreciation and amortization: | Total reported segments | $ | 1,140.20 | $ | 1,141.50 | $ | 1,329.00 | |||||||||||||||||||||||||||
Total reported segments | $ | 261.6 | $ | 279 | $ | 782.4 | $ | 860.2 | All Other and Corporate | 45.1 | 45.1 | 51.2 | ||||||||||||||||||||||
All Other and Corporate | 9.4 | 10.4 | 34.7 | 33.5 | 1,185.30 | 1,186.60 | 1,380.20 | |||||||||||||||||||||||||||
271 | 289.4 | 817.1 | 893.7 | Adjustments to reconcile to consolidated depreciation and amortization: | ||||||||||||||||||||||||||||||
Adjustments to reconcile to consolidated depreciation and amortization: | Adjustments for non-wholly-owned entities | 101.1 | 115.1 | 107.2 | ||||||||||||||||||||||||||||||
Adjustments for non-wholly-owned entities | 20 | 25.5 | 60.3 | 76.7 | Amortization of initial payments for new contracts | 44.5 | 42.5 | 38.6 | ||||||||||||||||||||||||||
Amortization of initial payments for new contracts | 10.4 | 12 | 30.7 | 33.7 | Total consolidated depreciation and amortization | $ | 1,330.90 | $ | 1,344.20 | $ | 1,526.00 | |||||||||||||||||||||||
Total consolidated depreciation and amortization | $ | 301.4 | $ | 326.9 | $ | 908.1 | $ | 1,004.10 |
Redeemable_Noncontrolling_Inte1
Redeemable Noncontrolling Interest (Tables) | 9 Months Ended | 12 Months Ended | |||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||
Redeemable Noncontrolling Interest | ' | ' | |||||||||||
Summary of the redeemable noncontrolling interest activity | ' | ' | |||||||||||
(in millions) | 2013 | 2012 | (in millions) | Redeemable | |||||||||
Balance as of January 1, | $ | 67.4 | $ | 67.4 | Noncontrolling | ||||||||
Distributions | (26.0 | ) | (27.4 | ) | Interest | ||||||||
Share of income | 24.6 | 26.6 | Balance as of January 1, 2011 | $ | 28.1 | ||||||||
Adjustment to redemption value of redeemable noncontrolling interest | 2 | — | Distributions | (31.2 | ) | ||||||||
Other | (0.1 | ) | — | Share of income | 32 | ||||||||
Balance as of September 30, | $ | 67.9 | $ | 66.6 | Adjustment to redemption value of redeemable noncontrolling interest | 38.6 | |||||||
Other | (0.1 | ) | |||||||||||
Balance as of December 31, 2011 | 67.4 | ||||||||||||
Distributions | (36.0 | ) | |||||||||||
Share of income | 36 | ||||||||||||
Balance as of December 31, 2012 | $ | 67.4 |
Employee_Benefit_Plans_Tables1
Employee Benefit Plans (Tables) | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
Employee Benefit Plans | ' | ' | |||||||||||||||||||||||
Schedule of the components of net periodic benefit expense (income) for the defined benefit pension plans | ' | ' | |||||||||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | Year ended December 31, | ||||||||||||||||||||
Service costs | $ | 0.6 | $ | 0.7 | $ | 1.9 | $ | 2.1 | (in millions) | 2012 | 2011 | 2010 | |||||||||||||
Interest costs | 9.3 | 9.3 | 28 | 27.8 | Service costs | $ | 5 | $ | 6.1 | $ | 3.1 | ||||||||||||||
Expected return on plan assets | (10.9 | ) | (11.1 | ) | (32.8 | ) | (33.4 | ) | Interest costs | 37.7 | 39.8 | 40 | |||||||||||||
Amortization | 0.9 | 0.4 | 2.7 | 1.3 | Expected return on plan assets | (44.7 | ) | (46.5 | ) | (40.4 | ) | ||||||||||||||
Net periodic benefit expense (income) | $ | (0.1 | ) | $ | (0.7 | ) | $ | (0.2 | ) | $ | (2.2 | ) | Amortization | 2.1 | 1.3 | 2.2 | |||||||||
Net periodic benefit expense | $ | 0.1 | $ | 0.7 | $ | 4.9 | |||||||||||||||||||
Stock_Compensation_Plans_Table1
Stock Compensation Plans (Tables) | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||
Stock Compensation Plans | ' | ' | |||||||||||||||||||||||
Schedule of stock-based compensation expense recognized in the selling, general and administrative line item of the consolidated statements of operations | ' | ' | |||||||||||||||||||||||
Three months ended | Nine months ended | Year ended December 31, | Amount | ||||||||||||||||||||||
September 30, | September 30, | (in millions) | |||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | 2012 | $ | 12.4 | ||||||||||||||||||
Total stock-based compensation expense (pretax) | $ | 5.5 | $ | 3.6 | $ | 37.1 | $ | 10.9 | 2011 | 17.6 | |||||||||||||||
2010 | 17.1 | ||||||||||||||||||||||||
Schedule of weighted-average assumptions for estimating fair value of stock options granted | ' | ' | |||||||||||||||||||||||
Nine months ended | Year ended December 31, | ||||||||||||||||||||||||
September 30, 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Risk-free interest rate | 1.38 | % | Risk-free interest rate | 1.45 | % | 2.86 | % | 3.03 | % | ||||||||||||||||
Dividend yield | — | Dividend yield | — | — | — | ||||||||||||||||||||
Volatility | 56.64 | % | Volatility | 51.77 | % | 54.65 | % | 51.4 | % | ||||||||||||||||
Expected term (in years) | 7 | Expected term (in years) | 7 | 7 | 7 | ||||||||||||||||||||
Fair value of stock | $ | 3.5 | Fair value of stock (a) | $ | 3 | $ | 3 | $ | 3 | ||||||||||||||||
Fair value of options | $ | 1.99 | Fair value of options | $ | 1.6 | $ | 1.73 | $ | 1.66 | ||||||||||||||||
(a) The fair value of the stock increased from $3.00 to $3.50 effective March 31, 2012. | |||||||||||||||||||||||||
Summary of stock option activity | ' | ' | |||||||||||||||||||||||
(options in millions) | Options | Weighted-Average | (options in millions) | Options | Weighted-Average | Weighted-Average | |||||||||||||||||||
Exercise Price | Exercise Price | Remaining | |||||||||||||||||||||||
Outstanding at January 1, 2013 | 77.6 | $ | 3 | Contractual | |||||||||||||||||||||
Granted | 50.2 | $ | 3.5 | Term | |||||||||||||||||||||
Exercised | (5.5 | ) | $ | 3 | Outstanding as of January 1, 2012 | 73 | $ | 3 | |||||||||||||||||
Cancelled / Forfeited | (8.3 | ) | $ | 3.02 | Granted | 8 | $ | 3 | |||||||||||||||||
Outstanding at September 30, 2013 | 114 | $ | 3.22 | Exercised | (0.4 | ) | $ | 3.5 | |||||||||||||||||
Options exercisable as of September 30, 2013 | 30.3 | $ | 3.02 | Cancelled / Forfeited | (3.0 | ) | $ | 3 | |||||||||||||||||
Outstanding as of December 31, 2012 | 77.6 | $ | 3 | 7 years | |||||||||||||||||||||
Options exercisable as of December 31, 2012 | 27.5 | $ | 3 | 6 years | |||||||||||||||||||||
Summary of restricted stock award and restricted stock unit activity | ' | ' | |||||||||||||||||||||||
(awards/units in millions) | Awards/Units | Weighted-Average | (awards/units in millions) | Awards/Units | Weighted-Average | ||||||||||||||||||||
Grant-Date Fair | Grant-Date Fair Value | ||||||||||||||||||||||||
Value | Non-vested as of January 1, 2012 | 10.9 | $ | 3.14 | |||||||||||||||||||||
Non-vested at January 1, 2013 | 13.6 | $ | 3 | Granted | 4 | $ | 3 | ||||||||||||||||||
Granted | 9.6 | $ | 3.5 | Vested | (0.7 | ) | $ | 4.74 | |||||||||||||||||
Vested | (3.1 | ) | $ | 3.23 | Cancelled / Forfeited | (0.6 | ) | $ | 3.16 | ||||||||||||||||
Cancelled / Forfeited | (1.1 | ) | $ | 3.02 | Non-vested as of December 31, 2012 | 13.6 | $ | 3 | |||||||||||||||||
Non-vested at September 30, 2013 | 19 | $ | 3.21 |
Investment_Securities_Tables1
Investment Securities (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||
Investment Securities | ' | ' | ||||||||||||||||||||||||||||||||||||||
Schedule of principal components of the investment securities | ' | ' | ||||||||||||||||||||||||||||||||||||||
(in millions) | Cost (a) | Gross | Gross | OTTI Recognized | Fair | (in millions) | Cost (a) | Gross | Gross | OTTI Recognized in | Fair | |||||||||||||||||||||||||||||
Unrealized | Unrealized | in | Value (d) | Unrealized | Unrealized | OCI (b)/(c) | Value (d) | |||||||||||||||||||||||||||||||||
Gain | (Loss) excluding | OCI (b)(c) | Gain | (Loss) excluding | ||||||||||||||||||||||||||||||||||||
OTTI (b) | OTTI (b) | |||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||||
Student loan auction rate securities | $ | 12.8 | $ | 0.8 | $ | — | $ | — | $ | 13.6 | Student loan auction rate securities | $ | 37.6 | $ | 1.2 | $ | — | $ | — | $ | 38.8 | |||||||||||||||||||
Corporate bonds | 6.1 | — | — | — | 6.1 | Corporate bonds | 6.6 | — | — | — | 6.6 | |||||||||||||||||||||||||||||
State and municipal obligations | 57.3 | — | — | — | 57.3 | State and municipal obligations | 134.5 | — | (0.1 | ) | — | 134.4 | ||||||||||||||||||||||||||||
Preferred stock | 0.1 | 1.9 | — | — | 2 | Other | 0.1 | 0.5 | — | — | 0.6 | |||||||||||||||||||||||||||||
Total available-for-sale securities | 76.3 | 2.7 | — | — | 79 | Total available-for-sale securities | 178.8 | 1.7 | (0.1 | ) | — | 180.4 | ||||||||||||||||||||||||||||
Cost method investments | 9.1 | — | — | — | 9.1 | Cost method investments | 13.4 | — | — | — | 13.4 | |||||||||||||||||||||||||||||
Totals | $ | 85.4 | $ | 2.7 | $ | — | $ | — | $ | 88.1 | Totals | $ | 192.2 | $ | 1.7 | $ | (0.1 | ) | $ | — | $ | 193.8 | ||||||||||||||||||
As of December 31, 2012 | As of December 31, 2011 | |||||||||||||||||||||||||||||||||||||||
Student loan auction rate securities | $ | 37.6 | $ | 1.2 | $ | — | $ | — | $ | 38.8 | Student loan auction rate securities | $ | 169.3 | $ | 1.2 | $ | — | $ | — | $ | 170.5 | |||||||||||||||||||
Corporate bonds | 6.6 | — | — | — | 6.6 | Corporate bonds | 10.3 | — | (0.1 | ) | — | 10.2 | ||||||||||||||||||||||||||||
State and municipal obligations | 134.5 | — | (0.1 | ) | — | 134.4 | State and municipal obligations | 96 | — | — | — | 96 | ||||||||||||||||||||||||||||
Preferred stock | 0.1 | 0.5 | — | — | 0.6 | U.S. Government guaranteed securities | 10 | — | — | — | 10 | |||||||||||||||||||||||||||||
Total available-for-sale securities | 178.8 | 1.7 | (0.1 | ) | — | 180.4 | Other | 0.1 | 0.4 | — | — | 0.5 | ||||||||||||||||||||||||||||
Cost method investments | 13.4 | — | — | — | 13.4 | Total available-for-sale securities | 285.7 | 1.6 | (0.1 | ) | — | 287.2 | ||||||||||||||||||||||||||||
Totals | $ | 192.2 | $ | 1.7 | $ | (0.1 | ) | $ | — | $ | 193.8 | Cost method investments | 23.7 | — | — | — | 23.7 | |||||||||||||||||||||||
Totals | $ | 309.4 | $ | 1.6 | $ | (0.1 | ) | $ | — | $ | 310.9 | |||||||||||||||||||||||||||||
(a) Represents amortized cost for debt securities. | ||||||||||||||||||||||||||||||||||||||||
(b) “OTTI” refers to other-than-temporary impairments. | ||||||||||||||||||||||||||||||||||||||||
(c) For debt securities, represents the fair value adjustment excluding that attributable to credit losses. | (a) Represents amortized cost for debt securities. | |||||||||||||||||||||||||||||||||||||||
(d) Represents cost for cost method investments. | (b) “OTTI” refers to other-than-temporary impairments. | |||||||||||||||||||||||||||||||||||||||
(c) For debt securities, represents the fair value adjustment excluding that attributable to credit losses. | ||||||||||||||||||||||||||||||||||||||||
(d) Represents cost for cost method investments. | ||||||||||||||||||||||||||||||||||||||||
Schedule of gross unrealized losses and fair value of the investments in a continuous unrealized loss position, aggregated by investment category and length of time | ' | ' | ||||||||||||||||||||||||||||||||||||||
Less than 12 months | More than 12 months | Total | Less than 12 months | More than 12 months | Total | |||||||||||||||||||||||||||||||||||
(in millions) | Fair | Unrealized | Fair | Unrealized | Total | Unrealized | (in millions) | Fair | Unrealized | Fair | Unrealized | Total | Unrealized | |||||||||||||||||||||||||||
Value | Losses | Value | Losses | Fair Value | Losses | Value | Losses | Value | Losses | Fair Value | Losses | |||||||||||||||||||||||||||||
As of December 31, 2012 | As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||||
State and municipal obligations (a) | $ | 45.3 | $ | — | $ | 0.1 | $ | — | $ | 45.4 | $ | (0.1 | ) | State and municipal obligations (a) | $ | 45.3 | $ | — | $ | 0.1 | $ | — | $ | 45.4 | $ | (0.1 | ) | |||||||||||||
As of December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||
(a) Unrealized losses less than and greater than 12 months are less than $50,000, respectively. | Corporate bonds | $ | 10.2 | $ | (0.1 | ) | $ | — | $ | — | $ | 10.2 | $ | (0.1 | ) | |||||||||||||||||||||||||
(a) Unrealized losses less than and greater than 12 months are less than $50,000, respectively. | ||||||||||||||||||||||||||||||||||||||||
Schedule of additional information regarding available-for-sale securities | ' | ' | ||||||||||||||||||||||||||||||||||||||
Three months | Nine months | |||||||||||||||||||||||||||||||||||||||
ended September 30, | ended September 30, | |||||||||||||||||||||||||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Proceeds from sales (a) | $ | 91.4 | $ | 104.2 | $ | 257 | $ | 271.9 | ||||||||||||||||||||||||||||||||
Purchases | $ | 29.5 | $ | 51.8 | $ | 142.3 | $ | 142.5 | Year ended December 31, | |||||||||||||||||||||||||||||||
Gross realized gains included in earnings as a result of sales (a) | $ | 0.3 | $ | 1.1 | $ | 1.3 | $ | 4.3 | (in millions) | 2012 | 2011 | 2010 | ||||||||||||||||||||||||||||
Net unrealized gains included in OCI, net of tax | $ | 0.3 | $ | — | $ | 2.2 | $ | 2.6 | Proceeds from sales(a) | $ | 156.6 | $ | 283.2 | $ | 138.1 | |||||||||||||||||||||||||
Net gains reclassified out of OCI into earnings, net of tax | $ | 0.2 | $ | 0.8 | $ | 1.2 | $ | 2.8 | Purchases | $ | 194.1 | $ | 269.7 | $ | 44.4 | |||||||||||||||||||||||||
Gross realized gains included in earnings as a result of sales(a) | 4.4 | 3.6 | 6.2 | |||||||||||||||||||||||||||||||||||||
(a) Includes activity resulting from sales, maturities and redemptions. | Gross realized (losses) included in earnings as a result of sales(a) | — | (2.9 | ) | (3.3 | ) | ||||||||||||||||||||||||||||||||||
Gross losses included in earnings as a result of impairment(b) | — | (5.2 | ) | (28.2 | ) | |||||||||||||||||||||||||||||||||||
Net unrealized gains or (losses) included in OCI, net of tax | 2.9 | (2.0 | ) | 7.7 | ||||||||||||||||||||||||||||||||||||
Net gains or (losses) reclassified out of OCI into earnings, net of tax | 2.7 | (2.8 | ) | (19.8 | ) | |||||||||||||||||||||||||||||||||||
(a) | ||||||||||||||||||||||||||||||||||||||||
Includes activity resulting from sales, redemptions, liquidations and related matters. | ||||||||||||||||||||||||||||||||||||||||
(b) | ||||||||||||||||||||||||||||||||||||||||
In the fourth quarter of 2010, due to new and existing state laws and regulations as well as the Company's changing views of its use of capital, the Company determined it could no longer assert that it will not more likely than not be required to sell the SLARS prior to the recovery of their fair value to amortized cost. | ||||||||||||||||||||||||||||||||||||||||
Schedule of maturity information for the investments in debt securities | ' | ' | ||||||||||||||||||||||||||||||||||||||
(in millions) | Fair Value | (in millions) | Fair Value | |||||||||||||||||||||||||||||||||||||
Due within one year | $ | 59.8 | Due within one year | $ | 125.6 | |||||||||||||||||||||||||||||||||||
Due after one year through five years | 3.5 | Due after one year through five years | 15.3 | |||||||||||||||||||||||||||||||||||||
Due after 10 years | 13.7 | Due after five years through 10 years | — | |||||||||||||||||||||||||||||||||||||
Total debt securities | $ | 77 | Due after 10 years | 38.9 | ||||||||||||||||||||||||||||||||||||
Total debt securities | $ | 179.8 | ||||||||||||||||||||||||||||||||||||||
Derivative_Financial_Instrumen6
Derivative Financial Instruments (Tables) | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||||||||
Derivative Financial Instruments | ' | ' | |||||||||||||||||||||||||||||
Schedule of derivative instruments portfolio | ' | ' | |||||||||||||||||||||||||||||
Notional value (in millions) | As of September 30, | As of December 31, | Notional value (in millions) | As of December 31, | As of December 31, | ||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | ||||||||||||||||||||||||||||
Interest rate contracts | USD | 5,750 | USD | 5,750 | Interest rate contracts | USD | 5,750 | USD | 5,750 | ||||||||||||||||||||||
Foreign exchange contracts | EUR | 221.5 | EUR | 91.1 | Foreign exchange contracts | EUR | 91.1 | EUR | 91.1 | ||||||||||||||||||||||
Foreign exchange contracts | AUD | 215 | AUD | 115 | Foreign exchange contracts | AUD | 115 | AUD | 115 | ||||||||||||||||||||||
Foreign exchange contracts | GBP | 100 | GBP | — | Forward-starting interest rate contracts | USD | — | USD | 3,000 | ||||||||||||||||||||||
Foreign exchange contracts | CAD | 75 | CAD | — | |||||||||||||||||||||||||||
Schedule of Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | |||||||||||||||||||||||||||||
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ||||||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||||||||
(in millions) | Assets (a)(c) | Liabilities (b)(c) | (in millions) | Assets (a)(c) | Liabilities (b)(c) | ||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | Derivatives designated as hedging instruments | ||||||||||||||||||||||||||||||
Foreign exchange contracts | $ | 11.1 | $ | (29.2 | ) | Foreign exchange contract | $ | — | $ | (32.8 | ) | ||||||||||||||||||||
Derivatives not designated as hedging instruments: | Derivatives not designated as hedging instruments | ||||||||||||||||||||||||||||||
Interest rate contracts | 62.2 | (116.9 | ) | Interest rate contracts | 90.8 | (137.7 | ) | ||||||||||||||||||||||||
Foreign exchange contracts | — | (2.4 | ) | Foreign exchange contracts | 10.1 | (1.6 | ) | ||||||||||||||||||||||||
Total derivatives not designated as hedging instruments | 62.2 | (119.3 | ) | Total derivatives not designated as hedging instruments | 100.9 | (139.3 | ) | ||||||||||||||||||||||||
Total derivatives | $ | 73.3 | $ | (148.5 | ) | Total derivatives | $ | 100.9 | $ | (172.1 | ) | ||||||||||||||||||||
As of December 31, 2012 | As of December 31, 2011 | ||||||||||||||||||||||||||||||
(in millions) | Assets (a)(c) | Liabilities (b)(c) | (in millions) | Assets (a)(c) | Liabilities (b)(c) | ||||||||||||||||||||||||||
Derivative designated as hedging instrument: | Derivatives designated as hedging instruments | ||||||||||||||||||||||||||||||
Foreign exchange contract | $ | — | $ | (32.8 | ) | Interest rate contract | $ | — | $ | (12.8 | ) | ||||||||||||||||||||
Derivatives not designated as hedging instruments: | Foreign exchange contract | — | (27.1 | ) | |||||||||||||||||||||||||||
Interest rate contracts | 90.8 | (137.7 | ) | Total derivatives designated as hedging instruments | — | (39.9 | ) | ||||||||||||||||||||||||
Foreign exchange contracts | 10.1 | (1.6 | ) | ||||||||||||||||||||||||||||
Total derivatives not designated as hedging instruments | 100.9 | (139.3 | ) | Derivatives not designated as hedging instruments | |||||||||||||||||||||||||||
Total derivatives | $ | 100.9 | $ | (172.1 | ) | Interest rate contracts | $ | 65.4 | $ | (143.9 | ) | ||||||||||||||||||||
Foreign exchange contracts | 10.9 | (0.7 | ) | ||||||||||||||||||||||||||||
(a) Derivative assets are included in the “Other current assets” and “Other long-term assets” lines of the Consolidated Balance Sheets. | Forward-starting interest rate contracts | — | (11.9 | ) | |||||||||||||||||||||||||||
(b) Derivative liabilities are included in the “Other current liabilities” and “Other long-term liabilities” lines of the Consolidated Balance Sheets. | Total derivatives not designated as hedging instruments | 76.3 | (156.5 | ) | |||||||||||||||||||||||||||
(c) The Company presents all derivative balances on a gross basis, without regard to counterparty master netting agreements or similar arrangements. Of the balances included in the table above, $73.3 million of assets and $115.5 million of liabilities, net $42.2 million, as of September 30, 2013 and $100.9 million of assets and $126.0 million of liabilities, net $25.1 million, as of December 31, 2012 are subject to master netting agreements with the counterparties. The terms of those agreements require that the Company net settle the outstanding positions at the option of the counterparty upon certain events of default. | Total derivatives | $ | 76.3 | $ | (196.4 | ) | |||||||||||||||||||||||||
(a) Derivative assets are included in the “Other current assets” and “Other long-term assets” lines of the Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||
(b) Derivative liabilities are included in the “Other current liabilities” and “Other long-term liabilities” lines of the Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||
(c) The Company’s policy is to present all derivative balances on a gross basis, without regard to counterparty master netting agreements or similar arrangements. | |||||||||||||||||||||||||||||||
Schedule of The Effect of Derivative Instruments on the Consolidated Statements of Operations | ' | ' | |||||||||||||||||||||||||||||
The Effect of Derivative Instruments on the Consolidated Statements of Operations | The Effect of Derivative Instruments on the Consolidated Statements of Operations | ||||||||||||||||||||||||||||||
Three months ended September 30, | Year ended December 31, | ||||||||||||||||||||||||||||||
2013 | 2012 | 2012 | 2011 | 2010 | |||||||||||||||||||||||||||
(in millions, pretax) | Interest | Foreign | Interest | Foreign | (in millions, pretax) | Interest | Foreign | Interest | Foreign | Interest | Foreign | ||||||||||||||||||||
Rate | Exchange | Rate | Exchange | Rate | Exchange | Rate | Exchange | Rate | Exchange | ||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | ||||||||||||||||||||||
Derivatives in cash flow hedging relationships: | Derivatives in cash flow hedging relationships: | ||||||||||||||||||||||||||||||
Amount of gain or (loss) reclassified from accumulated OCI into income (a) | $ | — | $ | — | $ | (37.9 | ) | $ | — | Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | — | $ | 61.3 | — | $ | (26.2 | ) | — | |||||||||||
Derivative in net investment hedging relationships: | Amount of gain or (loss) reclassified from accumulated OCI into income (a) | (114.9 | ) | — | (93.0 | ) | — | (145.7 | ) | — | |||||||||||||||||||||
Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | $ | (20.3 | ) | $ | — | $ | (3.7 | ) | Amount of gain or (loss) recognized in income (ineffective portion) (b) | — | — | (2.3 | ) | — | (6.3 | ) | — | ||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||
Amount of gain or (loss) recognized in income (b) | $ | (24.3 | ) | $ | (1.2 | ) | $ | (41.2 | ) | $ | (1.8 | ) | Derivatives in net investment hedging relationships: | ||||||||||||||||||
Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | (9.2 | ) | $ | — | (9.4 | ) | $ | — | (14.8 | ) | |||||||||||||||||||
Nine months ended September 30, | Amount of gain or (loss) recognized in income (ineffective portion) (b) | — | — | — | — | — | 0.5 | ||||||||||||||||||||||||
2013 | 2012 | Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||
(in millions, pretax) | Interest | Foreign | Interest | Foreign | Amount of gain or (loss) recognized in income (b) | $ | (89.9 | ) | (1.5 | ) | $ | 58 | 2.5 | $ | (61.6 | ) | 9.1 | ||||||||||||||
Rate | Exchange | Rate | Exchange | ||||||||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | (a) Gain (loss) is recognized in the “Interest expense” line of the Consolidated Statements of Operations. | |||||||||||||||||||||||||||
Derivatives in cash flow hedging relationships: | (b) Gain (loss) is recognized in the “Other income (expense)” line of the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||
Amount of gain or (loss) reclassified from accumulated OCI into income (a) | $ | — | $ | — | $ | (114.8 | ) | $ | — | ||||||||||||||||||||||
Derivative in net investment hedging relationships: | |||||||||||||||||||||||||||||||
Amount of gain or (loss) recognized in OCI (effective portion) | $ | — | $ | 11.7 | $ | — | $ | (7.1 | ) | ||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||
Amount of gain or (loss) recognized in income (b) | $ | (10.1 | ) | $ | (1.2 | ) | $ | (88.4 | ) | $ | 1.6 | ||||||||||||||||||||
(a) Gain (loss) is recognized in the “Interest expense” line of the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||
(b) Gain (loss) is recognized in the “Other income (expense)” line of the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||
Summary of activity in other comprehensive income related to derivative instruments classified as net investment hedges | ' | ' | |||||||||||||||||||||||||||||
(in millions, after tax) | Nine months ended | Year ended December 31, | |||||||||||||||||||||||||||||
September 30, 2013 | (in millions, after tax) | 2012 | 2011 | ||||||||||||||||||||||||||||
Accumulated loss included in other comprehensive income (loss) at beginning of the period | $ | (21.1 | ) | Accumulated loss included in other comprehensive income (loss) at beginning of the period | $ | (87.6 | ) | $ | (181.3 | ) | |||||||||||||||||||||
Increase in fair value of derivative that qualifies for hedge accounting (a) | 11.5 | Less: Reclassifications into earnings from other comprehensive income (loss) | 72.2 | 60.2 | |||||||||||||||||||||||||||
Accumulated gain included in other comprehensive income (loss) at end of the period | $ | (9.6 | ) | (15.4 | ) | (121.1 | ) | ||||||||||||||||||||||||
Increase in fair value of derivatives that qualify for hedge accounting (a) | (5.7 | ) | 33.5 | ||||||||||||||||||||||||||||
(a) Gains and losses are included in “Foreign currency translation adjustment” on the Consolidated Statements of Comprehensive Income (Loss). | Accumulated loss included in other comprehensive income (loss) at end of the period | $ | (21.1 | ) | $ | (87.6 | ) | ||||||||||||||||||||||||
(a) Gains and losses are included in “Unrealized gains on hedging activities” and in “Foreign currency translation adjustment” on the Consolidated Statements of Comprehensive Income (Loss). |
Fair_Value_Measurement_Tables1
Fair Value Measurement (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||
Fair Value Measurement | ' | ' | ||||||||||||||||||||||||||
Schedule of carrying value and estimated fair value of financial instruments | ' | ' | ||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | As of December 31, 2011 | ||||||||||||||||||||||||||
(in millions) | Carrying | Fair Value (a) | (in millions) | Carrying Value | Fair Value (a) | Carrying Value | Fair Value (a) | |||||||||||||||||||||
Value | Financial instruments: | |||||||||||||||||||||||||||
Financial instruments: | Settlement assets: | |||||||||||||||||||||||||||
Settlement assets: | Short-term investment securities | $ | 125.6 | $ | 125.6 | $ | 105.7 | $ | 105.7 | |||||||||||||||||||
Short-term investment securities | $ | 59.8 | $ | 59.8 | Long-term investment securities | $ | 54.3 | $ | 54.3 | $ | 181 | $ | 181 | |||||||||||||||
Long-term investment securities | $ | 18.6 | $ | 18.6 | Other current assets: | |||||||||||||||||||||||
Other current assets: | Derivative financial instruments | $ | 11.1 | $ | 11.1 | $ | — | $ | — | |||||||||||||||||||
Derivative financial instruments | $ | 6.7 | $ | 6.7 | Other long-term assets: | |||||||||||||||||||||||
Other long-term assets: | Long-term investment securities | $ | 0.5 | $ | 0.5 | $ | 0.5 | $ | 0.5 | |||||||||||||||||||
Long-term investment securities | $ | 0.6 | $ | 0.6 | Cost method investments | $ | 13.4 | $ | 13.4 | $ | 23.7 | $ | 23.7 | |||||||||||||||
Cost method investments | $ | 9.1 | $ | 9.1 | Derivative financial instruments | $ | 89.8 | $ | 89.8 | $ | 76.3 | $ | 76.3 | |||||||||||||||
Derivative financial instruments | $ | 66.6 | $ | 66.6 | Other current liabilities: | |||||||||||||||||||||||
Other current liabilities: | Derivative financial instruments | $ | 0.3 | $ | 0.3 | $ | 156.7 | $ | 156.7 | |||||||||||||||||||
Derivative financial instruments | $ | 21.6 | $ | 21.6 | Long-term borrowings: | |||||||||||||||||||||||
Long-term borrowings: | Long-term borrowings | $ | 22,528.90 | $ | 22,732.60 | $ | 22,521.70 | $ | 20,189.80 | |||||||||||||||||||
Long-term borrowings | $ | 22,565.10 | $ | 23,359.30 | Other long-term liabilities: | |||||||||||||||||||||||
Other long-term liabilities: | Derivative financial instruments | $ | 171.8 | $ | 171.8 | $ | 39.7 | $ | 39.7 | |||||||||||||||||||
Derivative financial instruments | $ | 126.9 | $ | 126.9 | ||||||||||||||||||||||||
(a) Represents cost for cost method investments. Refer to Note 10 of these Consolidated Financial Statements for a more detailed discussion of cost method investments. | (a) Represents cost for cost method investments. Refer to Note 5 of these Consolidated Financial Statements for a more detailed discussion of cost method investments. | |||||||||||||||||||||||||||
Schedule of financial instruments carried and measured at fair value on a recurring basis | ' | ' | ||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||||||
Fair Value Measurement Using | Fair Value Measurement Using | |||||||||||||||||||||||||||
(in millions) | Quoted prices in | Significant other | Significant | Total | (in millions) | Quoted prices in | Significant other | Significant | Total | |||||||||||||||||||
active markets | observable | unobservable | active markets | observable | unobservable | |||||||||||||||||||||||
for identical | inputs | inputs | for identical assets | inputs | inputs | |||||||||||||||||||||||
assets | (Level 2) | (Level 3) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||
(Level 1) | Assets: | |||||||||||||||||||||||||||
Assets: | Settlement assets: | |||||||||||||||||||||||||||
Settlement assets: | Student loan auction rate securities | $ | — | $ | — | $ | 38.8 | $ | 38.8 | |||||||||||||||||||
Student loan auction rate securities | $ | — | $ | — | $ | 13.6 | $ | 13.6 | Corporate bonds | — | 6.6 | — | 6.6 | |||||||||||||||
Corporate bonds | — | 6.1 | — | 6.1 | State and municipal obligations | — | 133.9 | — | 133.9 | |||||||||||||||||||
State and municipal obligations | — | 56.7 | — | 56.7 | Preferred stock | 0.6 | — | — | 0.6 | |||||||||||||||||||
Preferred stock | 2 | — | — | 2 | Total settlement assets | 0.6 | 140.5 | 38.8 | 179.9 | |||||||||||||||||||
Total settlement assets | 2 | 62.8 | 13.6 | 78.4 | ||||||||||||||||||||||||
Other current assets: | ||||||||||||||||||||||||||||
Other current assets: | Interest rate swap contracts | — | 1 | — | 1 | |||||||||||||||||||||||
Interest rate swap contracts | — | 6.7 | — | 6.7 | Foreign currency derivative contracts | — | 10.1 | 10.1 | ||||||||||||||||||||
Other long-term assets: | Other long-term assets: | |||||||||||||||||||||||||||
Available-for-sale securities | — | 0.6 | — | 0.6 | Available-for-sale securities | — | 0.5 | — | 0.5 | |||||||||||||||||||
Foreign currency derivative contracts | — | 11.1 | — | 11.1 | Interest rate swap contracts | — | 89.8 | — | 89.8 | |||||||||||||||||||
Interest rate swap contracts | — | 55.5 | — | 55.5 | Total assets at fair value | $ | 0.6 | $ | 241.9 | $ | 38.8 | $ | 281.3 | |||||||||||||||
Total assets at fair value | $ | 2 | $ | 136.7 | $ | 13.6 | $ | 152.3 | ||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||
Liabilities: | Other current liabilities: | |||||||||||||||||||||||||||
Other current liabilities: | Interest rate swap contracts | $ | — | $ | 0.3 | $ | — | $ | 0.3 | |||||||||||||||||||
Foreign currency derivative contracts | $ | — | $ | 21.1 | $ | — | $ | 21.1 | Other long-term liabilities: | |||||||||||||||||||
Interest rate swap contracts | — | 0.5 | — | 0.5 | Foreign currency derivative contracts | — | 34.4 | — | 34.4 | |||||||||||||||||||
Other long-term liabilities: | Interest rate swap contracts | — | 137.4 | — | 137.4 | |||||||||||||||||||||||
Foreign currency derivative contracts | — | 10.5 | — | 10.5 | Contingent consideration | — | — | 20 | 20 | |||||||||||||||||||
Interest rate swap contracts | — | 116.4 | — | 116.4 | Total liabilities at fair value | $ | — | $ | 172.1 | $ | 20 | $ | 192.1 | |||||||||||||||
Contingent consideration | — | — | 20 | 20 | ||||||||||||||||||||||||
Total liabilities at fair value | $ | — | $ | 148.5 | $ | 20 | $ | 168.5 | As of December 31, 2011 | |||||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||||||||||||||
As of December 31, 2012 | (in millions) | Quoted prices in | Significant other | Significant | Total | |||||||||||||||||||||||
Fair Value Measurement Using | active markets | observable | unobservable | |||||||||||||||||||||||||
(in millions) | Quoted prices in | Significant other | Significant | Total | for identical assets | inputs | inputs | |||||||||||||||||||||
active markets | observable | unobservable | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||
for identical | inputs | inputs | Assets: | |||||||||||||||||||||||||
assets | (Level 2) | (Level 3) | Settlement assets: | |||||||||||||||||||||||||
(Level 1) | Student loan auction rate securities | $ | — | $ | — | $ | 170.5 | $ | 170.5 | |||||||||||||||||||
Assets: | Corporate bonds | — | 10.2 | — | 10.2 | |||||||||||||||||||||||
Settlement assets: | State and municipal obligations | — | 95.5 | — | 95.5 | |||||||||||||||||||||||
Student loan auction rate securities | $ | — | $ | — | $ | 38.8 | $ | 38.8 | U.S. Government guaranteed agency securities | — | 10 | — | 10 | |||||||||||||||
Corporate bonds | — | 6.6 | — | 6.6 | Preferred stock | 0.5 | — | — | 0.5 | |||||||||||||||||||
State and municipal obligations | — | 133.9 | — | 133.9 | Total settlement assets | 0.5 | 115.7 | 170.5 | 286.7 | |||||||||||||||||||
Preferred stock | 0.6 | — | — | 0.6 | ||||||||||||||||||||||||
Total settlement assets | 0.6 | 140.5 | 38.8 | 179.9 | Other long-term assets: | |||||||||||||||||||||||
Available-for-sale securities | — | 0.5 | — | 0.5 | ||||||||||||||||||||||||
Other current assets: | Interest rate swap contracts | — | 65.4 | — | 65.4 | |||||||||||||||||||||||
Interest rate swap contracts | — | 1 | — | 1 | Foreign currency derivative contracts | — | 10.9 | — | 10.9 | |||||||||||||||||||
Foreign currency derivative contracts | — | 10.1 | — | 10.1 | Total other long-term assets | — | 76.8 | — | 76.8 | |||||||||||||||||||
Other long-term assets: | Total assets at fair value | $ | 0.5 | $ | 192.5 | $ | 170.5 | $ | 363.5 | |||||||||||||||||||
Available-for-sale securities | — | 0.5 | — | 0.5 | ||||||||||||||||||||||||
Interest rate swap contracts | — | 89.8 | — | 89.8 | Liabilities: | |||||||||||||||||||||||
Total assets at fair value | $ | 0.6 | $ | 241.9 | $ | 38.8 | $ | 281.3 | Other current liabilities: | |||||||||||||||||||
Interest rate swap contracts | $ | — | $ | 156.7 | $ | — | $ | 156.7 | ||||||||||||||||||||
Liabilities: | Other long-term liabilities: | |||||||||||||||||||||||||||
Other current liabilities: | Foreign currency derivative contracts | — | 27.8 | — | 27.8 | |||||||||||||||||||||||
Interest rate swap contracts | $ | — | $ | 0.3 | $ | — | $ | 0.3 | Forward-starting interest rate contracts | — | 11.9 | — | 11.9 | |||||||||||||||
Other long-term liabilities: | Total liabilities at fair value | $ | — | $ | 196.4 | $ | — | $ | 196.4 | |||||||||||||||||||
Foreign currency derivative contracts | — | 34.4 | — | 34.4 | ||||||||||||||||||||||||
Interest rate swap contracts | — | 137.4 | — | 137.4 | ||||||||||||||||||||||||
Contingent consideration | — | — | 20 | 20 | ||||||||||||||||||||||||
Total liabilities at fair value | $ | — | $ | 172.1 | $ | 20 | $ | 192.1 | ||||||||||||||||||||
Schedule of reconciliation of level 3 financial instruments | ' | ' | ||||||||||||||||||||||||||
(in millions) | Fair Value Measurement | (in millions) | Fair Value Measurement | |||||||||||||||||||||||||
Using Significant Unobservable Inputs | Using Significant | |||||||||||||||||||||||||||
(Level 3) | Unobservable Inputs | |||||||||||||||||||||||||||
Student loan auction rate securities | (Level 3) | |||||||||||||||||||||||||||
Beginning balance as of January 1, 2013 | $ | 38.8 | Student loan auction rate | |||||||||||||||||||||||||
Total realized gains included in product sales and other | 1.3 | securities | ||||||||||||||||||||||||||
Total unrealized losses included in other comprehensive income | (0.4 | ) | Beginning balance as of January 1, 2011 | $ | 341.1 | |||||||||||||||||||||||
Sales | (26.1 | ) | Total gains or losses (realized or unrealized): | |||||||||||||||||||||||||
Ending balance as of September 30, 2013 | $ | 13.6 | Included in other comprehensive income | 1.2 | ||||||||||||||||||||||||
Included in product sales and other (a) | (4.5 | ) | ||||||||||||||||||||||||||
Sales | (158.4 | ) | ||||||||||||||||||||||||||
Settlements | (8.9 | ) | ||||||||||||||||||||||||||
Transfers in (out) of Level 3 | — | |||||||||||||||||||||||||||
Ending balance as of December 31, 2011 | 170.5 | |||||||||||||||||||||||||||
Total realized gains included in product sales and other | 4.4 | |||||||||||||||||||||||||||
Sales | (135.6 | ) | ||||||||||||||||||||||||||
Settlements | (0.5 | ) | ||||||||||||||||||||||||||
Transfers in (out) of Level 3 | — | |||||||||||||||||||||||||||
Ending balance as of December 31, 2012 | $ | 38.8 | ||||||||||||||||||||||||||
(a) Includes impairments of $5.2 million for the year ended December 31, 2011. | ||||||||||||||||||||||||||||
Schedule of reconciliation of level 3 financial instruments related to contingent consideration | ' | ' | ||||||||||||||||||||||||||
(in millions) | Fair Value Measurement | Fair Value Measurement | ||||||||||||||||||||||||||
Using Significant | (in millions) | Using Significant | ||||||||||||||||||||||||||
Unobservable Inputs | Unobservable Inputs | |||||||||||||||||||||||||||
(Level 3) | (Level 3) | |||||||||||||||||||||||||||
Contingent consideration | Contingent consideration | |||||||||||||||||||||||||||
Beginning balance as of January 1, 2013 | $ | 20 | Beginning balance as of January 1, 2012 | $ | — | |||||||||||||||||||||||
Contingent consideration payments | — | Initial estimate of contingent consideration | 20 | |||||||||||||||||||||||||
Change in fair value of contingent consideration | — | Contingent consideration payments | — | |||||||||||||||||||||||||
Ending balance as of September 30, 2013 | $ | 20 | Change in fair value of contingent consideration | — | ||||||||||||||||||||||||
Ending balance as of December 31, 2012 | $ | 20 |
Recovered_Sheet2
Supplemental Guarantor Condensed Consolidating Financial Statements (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Increase (decrease) from amounts previously reported | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) from Amounts Previously Reported | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2012 | For the nine months ended September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | (in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | |||||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | Company | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||
(Loss) income before income taxes and equity earnings in affiliates | $ | 10.8 | $ | (27.6 | ) | $ | (1.1 | ) | $ | 17.9 | (Loss) income before income taxes and equity earnings in affiliates | $ | 35.3 | $ | (92.7 | ) | $ | (1.6 | ) | $ | 59 | |||||||||||||||||||||||||||||||
Income tax (benefit) expense | $ | 10.8 | $ | (10.4 | ) | $ | (0.4 | ) | $ | — | Income tax (benefit) expense | 35.3 | (34.7 | ) | (0.6 | ) | — | |||||||||||||||||||||||||||||||||||
Net (loss) income | $ | — | $ | (17.2 | ) | $ | (0.7 | ) | $ | 17.9 | Net (loss) income | — | (58.0 | ) | (1.0 | ) | 59 | |||||||||||||||||||||||||||||||||||
Net (loss) income attributable to First Data Corporation | $ | — | $ | (17.2 | ) | $ | (0.7 | ) | $ | 17.9 | Net (loss) income attributable to First Data Corporation | — | (58.0 | ) | (1.0 | ) | 59 | |||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | Year ended December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | (in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | ||||||||||||||||||||||||||||||||||||||||||||
(Loss) income before income taxes and equity earnings in affiliates | $ | 35.3 | $ | (92.7 | ) | $ | (1.6 | ) | $ | 59 | Company | Subsidiaries | Subsidiaries | Adjustments | ||||||||||||||||||||||||||||||||||||||
Income tax (benefit) expense | $ | 35.3 | $ | (34.7 | ) | $ | (0.6 | ) | $ | — | (Loss) income before income taxes and equity earnings in affiliates | $ | 110.4 | $ | (260.1 | ) | $ | (36.6 | ) | $ | 186.3 | |||||||||||||||||||||||||||||||
Net (loss) income | $ | — | $ | (58.0 | ) | $ | (1.0 | ) | $ | 59 | Income tax (benefit) expense | 110.4 | (97.9 | ) | (12.5 | ) | — | |||||||||||||||||||||||||||||||||||
Net (loss) income attributable to First Data Corporation | $ | — | $ | (58.0 | ) | $ | (1.0 | ) | $ | 59 | Net (loss) income | — | (162.2 | ) | (24.1 | ) | 186.3 | |||||||||||||||||||||||||||||||||||
Net (loss) income attributable to First Data Corporation | — | (161.9 | ) | (24.4 | ) | 186.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | ||||||||||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||||
(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 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | — | (68.2 | ) | (5.8 | ) | 74 | ||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income attributable to First Data Corporation | — | (68.4 | ) | (5.6 | ) | 74 | ||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Previous and Corrected Disclosures | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2012 | For the nine months ended September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||
FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | As previously | As corrected | As previously | As corrected | As previously | As | As previously | As corrected | (in millions) | As previously | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | |||||||||||||||||||||||||||||||||||
reported | reported | reported | corrected | reported | reported | reported | reported | reported | ||||||||||||||||||||||||||||||||||||||||||||
Cost of services | $ | — | $ | — | $ | 496.1 | $ | 494.4 | $ | 280.8 | $ | 282.5 | $ | (47.9 | ) | $ | (47.9 | ) | 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 | — | — | ||||||||||||||||||||||||||||||||||||||||||
Operating (loss) profit | $ | (46.6 | ) | $ | (46.6 | ) | $ | 163 | $ | 164.7 | $ | 135.5 | $ | 133.8 | $ | — | $ | — | Interest income (expense) from intercompany notes | 144.3 | 234.4 | (148.6 | ) | (240.0 | ) | 4.3 | 5.6 | — | — | |||||||||||||||||||||||
Interest income (expense) from intercompany notes | $ | 49.4 | $ | 78.1 | $ | (50.7 | ) | $ | (80.0 | ) | $ | 1.3 | $ | 1.9 | $ | — | $ | — | Equity earnings from consolidated subsidiaries | 435.1 | 375.9 | 120.8 | 121 | — | — | (555.9 | ) | (496.9 | ) | |||||||||||||||||||||||
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 | (1,031.8 | ) | (996.5 | ) | 512 | 419.3 | 305.6 | 304 | (555.9 | ) | (496.9 | ) | |||||||||||||||||||||
(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 | (509.9 | ) | (474.6 | ) | 234.5 | 199.8 | 23.1 | 22.5 | — | — | |||||||||||||||||||||
Income tax (benefit) expense | $ | (176.4 | ) | $ | (165.6 | ) | $ | 77.9 | $ | 67.5 | $ | 29.1 | $ | 28.7 | $ | — | $ | — | Net (loss) income | (521.9 | ) | (521.9 | ) | 390.8 | 332.8 | 283.7 | 282.7 | (555.9 | ) | (496.9 | ) | |||||||||||||||||||||
Net (loss) income | $ | (212.0 | ) | $ | (212.0 | ) | $ | 105.7 | $ | 88.5 | $ | 118.1 | $ | 117.4 | $ | (186.0 | ) | $ | (168.1 | ) | Net (loss) income attributable to First Data Corporation | (521.9 | ) | (521.9 | ) | 390.8 | 332.8 | 239.8 | 238.8 | (630.6 | ) | (571.6 | ) | |||||||||||||||||||
Net (loss) income attributable to First Data Corporation | $ | (212.0 | ) | $ | (212.0 | ) | $ | 105.7 | $ | 88.5 | $ | 103.2 | $ | 102.5 | $ | (208.9 | ) | $ | (191.0 | ) | ||||||||||||||||||||||||||||||||
Nine months ended September 30, 2012 | Year ended December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||
FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | As previously | As corrected | As previously | As corrected | As previously | As | As previously | As corrected | (in millions) | As previously | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | |||||||||||||||||||||||||||||||||||
reported | reported | reported | corrected | reported | reported | reported | reported | reported | ||||||||||||||||||||||||||||||||||||||||||||
Cost of services | $ | — | $ | — | $ | 1,909.80 | $ | 1,896.40 | $ | 1,141.60 | $ | 1,155.00 | $ | (163.0 | ) | $ | (163.0 | ) | ||||||||||||||||||||||||||||||||||
Selling, general and administrative | $ | 110 | $ | 105.6 | $ | 875.7 | $ | 877.2 | $ | 387.6 | $ | 390.5 | $ | — | $ | — | Selling, general and administrative | 259.7 | 107.8 | 957.8 | 1,095.40 | 476.2 | 490.5 | — | — | |||||||||||||||||||||||||||
Operating (loss) profit | $ | (115.8 | ) | $ | (111.4 | ) | $ | 553.7 | $ | 552.2 | $ | 298.9 | $ | 296 | $ | — | $ | — | Operating (loss) profit | (264.9 | ) | (113.0 | ) | 698.8 | 574.6 | 507.6 | 479.9 | — | — | |||||||||||||||||||||||
Interest income (expense) from intercompany notes | $ | 144.3 | $ | 234.4 | $ | (148.6 | ) | $ | (240.0 | ) | $ | 4.3 | $ | 5.6 | $ | — | $ | — | Interest income (expense) from intercompany notes | 162.5 | 306.7 | (176.6 | ) | (311.9 | ) | 14.1 | 5.2 | — | — | |||||||||||||||||||||||
Equity earnings from consolidated subsidiaries | $ | 435.1 | $ | 375.9 | $ | 120.8 | $ | 121 | $ | — | $ | — | $ | (555.9 | ) | $ | (496.9 | ) | Equity earnings from consolidated subsidiaries | 637.9 | 452.2 | 134.5 | 133.9 | — | — | (772.4 | ) | (586.1 | ) | |||||||||||||||||||||||
(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 | ) | (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 | ) | |||||||||||||||||||
Income tax (benefit) expense | $ | (509.9 | ) | $ | (474.6 | ) | $ | 234.5 | $ | 199.8 | $ | 23.1 | $ | 22.5 | $ | — | $ | — | Income tax (benefit) expense | (702.0 | ) | (591.6 | ) | 341.3 | 243.4 | 90.6 | 78.1 | — | — | |||||||||||||||||||||||
Net (loss) income | $ | (521.9 | ) | $ | (521.9 | ) | $ | 390.8 | $ | 332.8 | $ | 283.7 | $ | 282.7 | $ | (555.9 | ) | $ | (496.9 | ) | Net (loss) income | (516.1 | ) | (516.1 | ) | 530.4 | 368.2 | 422 | 397.9 | (772.4 | ) | (586.1 | ) | |||||||||||||||||||
Net (loss) income attributable to First Data Corporation | $ | (521.9 | ) | $ | (521.9 | ) | $ | 390.8 | $ | 332.8 | $ | 239.8 | $ | 238.8 | $ | (630.6 | ) | $ | (571.6 | ) | Net (loss) income attributable to First Data Corporation | (516.1 | ) | (516.1 | ) | 530.1 | 368.2 | 362.7 | 338.3 | (892.8 | ) | (706.5 | ) | |||||||||||||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2012 | FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | (in millions) | As previously | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | ||||||||||||||||||||||||||||||||||||||||
(in millions) | As | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | reported | reported | reported | reported | ||||||||||||||||||||||||||||||||||||||||
previously | reported | reported | reported | Cost of Services | $ | — | $ | — | $ | 1,944.30 | $ | 1,949.60 | $ | 1,227.50 | $ | 1,222.20 | $ | (148.5 | ) | $ | (148.5 | ) | ||||||||||||||||||||||||||||||
reported | Operating (loss) profit | (285.0 | ) | (285.0 | ) | 475.3 | 470 | 326.4 | 331.7 | — | — | |||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | Interest income (expense) from intercompany notes | 112.3 | 230.3 | (146.4 | ) | (249.7 | ) | 34.1 | 19.4 | — | — | |||||||||||||||||||||||||||||||||||||||||
Net (loss) income | $ | (521.9 | ) | $ | (521.9 | ) | $ | 390.8 | $ | 332.8 | $ | 283.7 | $ | 282.7 | $ | (555.9 | ) | $ | (496.9 | ) | Equity earnings from consolidated subsidiaries | 323.8 | 249.8 | 150.2 | 150.2 | — | — | (474.0 | ) | (400.0 | ) | |||||||||||||||||||||
Other non-cash and non-operating items, net | $ | (405.3 | ) | $ | (346.1 | ) | $ | (193.9 | ) | $ | (194.1 | ) | $ | 5.5 | $ | 5.5 | $ | 555.9 | $ | 496.9 | (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 | ) | |||||||||||||||||||
(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 | ) | $ | — | $ | — | Income tax (benefit) expense | (598.5 | ) | (554.5 | ) | 164.7 | 124.3 | 110 | 106.4 | — | — | ||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (1,361.8 | ) | $ | (1,267.3 | ) | $ | 1,238.10 | $ | 1,145.20 | $ | 661.9 | $ | 660.3 | $ | — | $ | — | Net (loss) income | (1,021.8 | ) | (1,021.8 | ) | 458.6 | 390.4 | 218.2 | 212.4 | (501.9 | ) | (427.9 | ) | |||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | 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 | ) | |||||||||||||||||||||||||||||||||||||||
Intercompany | $ | 1,231.60 | $ | 1,137.10 | $ | (1,191.1 | ) | $ | (1,098.2 | ) | $ | (40.5 | ) | $ | (38.9 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||
CONSOLIDATED BALANCE SHEETS | ||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | As previously | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | ||||||||||||||||||||||||||||||||||||||||||||
reported | reported | reported | reported | |||||||||||||||||||||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Current intercompany notes receivable | $ | — | $ | 12.2 | $ | — | $ | — | $ | — | $ | 86.1 | $ | — | $ | (98.3 | ) | |||||||||||||||||||||||||||||||||||
Total current assets | 233.2 | 245.4 | 7,281.70 | 7,281.70 | 5,800.60 | 5,886.70 | — | (98.3 | ) | |||||||||||||||||||||||||||||||||||||||||||
Goodwill | — | — | 9,510.50 | 9,430.90 | 7,694.10 | 7,773.70 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||||
Investment in consolidated subsidiaries | 25,242.70 | 23,797.40 | 5,396.20 | 5,843.00 | — | — | (30,638.9 | ) | (29,640.4 | ) | ||||||||||||||||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||||||||||||||||||
LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Current intercompany notes payable | — | 62.5 | — | 35.8 | — | — | — | (98.3 | ) | |||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 697.9 | 760.4 | 6,790.70 | 6,826.50 | 5,331.60 | 5,331.60 | — | (98.3 | ) | |||||||||||||||||||||||||||||||||||||||||||
Long-term intercompany payables | 5,707.00 | 5,292.90 | (4,618.7 | ) | — | (1,088.3 | ) | — | — | (5,292.9 | ) | |||||||||||||||||||||||||||||||||||||||||
Long-term intercompany notes payable | (1,887.3 | ) | 260.6 | 1,949.90 | 3,196.80 | (62.6 | ) | 82.5 | — | (3.539.9) | ||||||||||||||||||||||||||||||||||||||||||
Total liabilities | 26,483.20 | 28,279.50 | 5,968.50 | 11,869.90 | 4,349.20 | 5,582.60 | — | (8,931.1 | ) | |||||||||||||||||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||||||||||||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||||||||||||||||||||||||||||||||||||||||
For the nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | As previously | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | ||||||||||||||||||||||||||||||||||||||||||||
Source/(use) | reported | reported | reported | reported | ||||||||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | $ | (521.9 | ) | $ | (521.9 | ) | $ | 390.8 | $ | 332.8 | $ | 283.7 | $ | 282.7 | $ | (555.9 | ) | $ | (496.9 | ) | ||||||||||||||||||||||||||||||||
Other non-cash and non-operating items, net | (405.3 | ) | (346.1 | ) | (193.9 | ) | (194.1 | ) | 5.5 | 5.5 | 555.9 | 496.9 | ||||||||||||||||||||||||||||||||||||||||
(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 | ) | — | — | |||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | (1,361.8 | ) | (1,267.3 | ) | 1,238.10 | 1,145.20 | 661.9 | 660.3 | — | — | ||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Intercompany | 1,231.60 | 1,137.10 | (1,191.1 | ) | (1,098.2 | ) | (40.5 | ) | (38.9 | ) | — | — | ||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | As previously | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | ||||||||||||||||||||||||||||||||||||||||||||
Source/(use) | reported | reported | reported | reported | ||||||||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | $ | (516.1 | ) | $ | (516.1 | ) | $ | 530.4 | $ | 368.2 | $ | 422 | $ | 397.9 | $ | (772.4 | ) | $ | (586.1 | ) | ||||||||||||||||||||||||||||||||
Other non-cash and non-operating items, net | (546.0 | ) | (360.3 | ) | (210.1 | ) | (209.5 | ) | 11.4 | 11.4 | 772.4 | 586.1 | ||||||||||||||||||||||||||||||||||||||||
(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 | — | — | ||||||||||||||||||||||||||||||||||||||||||
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 | — | — | ||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Intercompany | 1,516.60 | 1,220.50 | (1,375.9 | ) | (1,116.4 | ) | (140.7 | ) | (104.1 | ) | — | — | ||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||
Year ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
FDC Parent Company | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Consolidation Adjustments | |||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | As previously | As corrected | As previously | As corrected | As previously | As corrected | As previously | As corrected | ||||||||||||||||||||||||||||||||||||||||||||
Source/(use) | reported | reported | reported | reported | ||||||||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | $ | (1,021.8 | ) | $ | (1.021.8) | $ | 458.6 | $ | 390.4 | $ | 218.2 | $ | 212.4 | $ | (501.9 | ) | $ | (427.9 | ) | |||||||||||||||||||||||||||||||||
Other non-cash and non-operating items, net | (11.6 | ) | 62.4 | (207.4 | ) | (207.4 | ) | 8.8 | 8.8 | 475.8 | 401.8 | |||||||||||||||||||||||||||||||||||||||||
(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 | ) | ||||||||||||||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Intercompany | 1,682.50 | 1,564.50 | (1,454.7 | ) | (1,346.1 | ) | (227.8 | ) | (218.4 | ) | — | — | ||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||
Schedule of the results of operations | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | Consolidated | (in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | |||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | Company | Subsidiaries | Guarantor | Adjustments | |||||||||||||||||||||||||||||||||||||||||||||
Revenues: | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||||
Transaction and processing service fees | $ | — | $ | 1,065.40 | $ | 610.1 | $ | (55.3 | ) | $ | 1,620.20 | Revenues: | ||||||||||||||||||||||||||||||||||||||||
Product sales and other | — | 143.3 | 87.7 | (15.5 | ) | 215.5 | Transaction and processing service fees | $ | — | $ | 4,180.50 | $ | 2,471.80 | $ | (200.2 | ) | $ | 6,452.10 | ||||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 631.5 | 244.9 | — | 876.4 | Product sales and other | — | 569.8 | 355.8 | (58.9 | ) | 866.7 | ||||||||||||||||||||||||||||||||||||||||
— | 1,840.20 | 942.7 | (70.8 | ) | 2,712.10 | Reimbursable debit network fees, postage and other | — | 2,430.30 | 953.8 | (22.6 | ) | 3,361.50 | ||||||||||||||||||||||||||||||||||||||||
Expenses: | — | 7,180.60 | 3,781.40 | (281.7 | ) | 10,680.30 | ||||||||||||||||||||||||||||||||||||||||||||||
Cost of services (exclusive of items shown below) | — | 461.6 | 302.3 | (55.3 | ) | 708.6 | Expenses: | |||||||||||||||||||||||||||||||||||||||||||||
Cost of products sold | — | 61.2 | 35.2 | (15.5 | ) | 80.9 | Cost of services (exclusive of items shown below) | — | 1,829.60 | 1,234.10 | (200.2 | ) | 2,863.50 | |||||||||||||||||||||||||||||||||||||||
Selling, general and administrative | 27 | 302.2 | 134.4 | — | 463.6 | Cost of products sold | — | 252.9 | 142.3 | (58.9 | ) | 336.3 | ||||||||||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 631.5 | 244.9 | — | 876.4 | Selling, general and administrative | 89.4 | 1,217.30 | 518.7 | — | 1,825.40 | |||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | 1.8 | 162.9 | 106.6 | — | 271.3 | Reimbursable debit network fees, postage and other | — | 2,430.30 | 953.8 | (22.6 | ) | 3,361.50 | ||||||||||||||||||||||||||||||||||||||||
Other operating expenses: | Depreciation and amortization | 8.1 | 718.9 | 464.6 | — | 1,191.60 | ||||||||||||||||||||||||||||||||||||||||||||||
Restructuring, net | 3.2 | 4.8 | (0.2 | ) | — | 7.8 | Other operating expenses: | |||||||||||||||||||||||||||||||||||||||||||||
32 | 1,624.20 | 823.2 | (70.8 | ) | 2,408.60 | Restructuring, net | (0.2 | ) | 7.6 | 15.7 | — | 23.1 | ||||||||||||||||||||||||||||||||||||||||
Operating (loss) profit | (32.0 | ) | 216 | 119.5 | — | 303.5 | Impairments | — | 5.1 | — | — | 5.1 | ||||||||||||||||||||||||||||||||||||||||
Interest income | — | — | 2.7 | — | 2.7 | 97.3 | 6,461.70 | 3,329.20 | (281.7 | ) | 9,606.50 | |||||||||||||||||||||||||||||||||||||||||
Interest expense | (464.5 | ) | (3.0 | ) | (1.5 | ) | — | (469.0 | ) | Operating (loss) profit | (97.3 | ) | 718.9 | 452.2 | — | 1,073.80 | ||||||||||||||||||||||||||||||||||||
Interest income (expense) from intercompany notes | 79.2 | (77.5 | ) | (1.7 | ) | — | — | Interest income | 0.1 | 0.3 | 8.4 | — | 8.8 | |||||||||||||||||||||||||||||||||||||||
Other income (expense) | (50.3 | ) | 2.3 | 11.8 | — | (36.2 | ) | Interest expense | (1,880.4 | ) | (7.3 | ) | (10.1 | ) | — | (1,897.8 | ) | |||||||||||||||||||||||||||||||||||
Equity earnings from consolidated subsidiaries | 157.2 | 30.4 | — | (187.6 | ) | — | Interest income (expense) from intercompany notes | 313 | (320.0 | ) | 7 | — | — | |||||||||||||||||||||||||||||||||||||||
(278.4 | ) | (47.8 | ) | 11.3 | (187.6 | ) | (502.5 | ) | Other income (expense) | (102.1 | ) | (8.1 | ) | 15.9 | — | (94.3 | ) | |||||||||||||||||||||||||||||||||||
(Loss) income before income taxes and equity earnings in affiliates | (310.4 | ) | 168.2 | 130.8 | (187.6 | ) | (199.0 | ) | Equity earnings from consolidated subsidiaries | 522.6 | 179.7 | — | (702.3 | ) | — | |||||||||||||||||||||||||||||||||||||
Income tax (benefit) expense | (90.9 | ) | 68.6 | 50.9 | — | 28.6 | (1,146.8 | ) | (155.4 | ) | 21.2 | (702.3 | ) | (1,983.3 | ) | |||||||||||||||||||||||||||||||||||||
Equity earnings in affiliates | — | 47.3 | — | — | 47.3 | (Loss) income before income taxes and equity earnings in affiliates | (1,244.1 | ) | 563.5 | 473.4 | (702.3 | ) | (909.5 | ) | ||||||||||||||||||||||||||||||||||||||
Net (loss) income | (219.5 | ) | 146.9 | 79.9 | (187.6 | ) | (180.3 | ) | Income tax (benefit) expense | (543.2 | ) | 273.7 | 45.5 | — | (224.0 | ) | ||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 14.2 | 25 | 39.2 | Equity earnings in affiliates | — | 157.4 | 0.8 | — | 158.2 | |||||||||||||||||||||||||||||||||||||||||
Net (loss) income attributable to First Data Corporation | $ | (219.5 | ) | $ | 146.9 | $ | 65.7 | $ | (212.6 | ) | $ | (219.5 | ) | Net (loss) income | (700.9 | ) | 447.2 | 428.7 | (702.3 | ) | (527.3 | ) | ||||||||||||||||||||||||||||||
Comprehensive (loss) income | $ | (141.1 | ) | $ | 136.3 | $ | 180.6 | $ | (275.3 | ) | $ | (99.5 | ) | Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 61.9 | 111.7 | 173.6 | |||||||||||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 16.6 | 25 | 41.6 | Net (loss) income attributable to First Data Corporation | $ | (700.9 | ) | $ | 447.2 | $ | 366.8 | $ | (814.0 | ) | $ | (700.9 | ) | |||||||||||||||||||||||||||||||||
Comprehensive (loss) income attributable to First Data Corporation | $ | (141.1 | ) | $ | 136.3 | $ | 164 | $ | (300.3 | ) | $ | (141.1 | ) | Comprehensive (loss) income | $ | (654.7 | ) | $ | 448.6 | $ | 421.5 | $ | (693.2 | ) | $ | (477.8 | ) | |||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 65.2 | 111.7 | 176.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2013 | Comprehensive (loss) income attributable to First Data Corporation | $ | (654.7 | ) | $ | 448.6 | $ | 356.3 | $ | (804.9 | ) | $ | (654.7 | ) | ||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | Year ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||
Revenues: | (As Corrected) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Transaction and processing service fees | $ | — | $ | 3,132.30 | $ | 1,826.60 | $ | (166.4 | ) | $ | 4,792.50 | (in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | |||||||||||||||||||||||||||||||||||
Product sales and other | — | 409 | 259 | (45.2 | ) | 622.8 | Company | Subsidiaries | Guarantor | Adjustments | ||||||||||||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 1,869.50 | 727 | — | 2,596.50 | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||
— | 5,410.80 | 2,812.60 | (211.6 | ) | 8,011.80 | Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||
Expenses: | Transaction and processing service fees | $ | — | $ | 4,055.90 | $ | 2,437.10 | $ | (163.0 | ) | $ | 6,330.00 | ||||||||||||||||||||||||||||||||||||||||
Cost of services (exclusive of items shown below) | — | 1,401.40 | 884.2 | (166.4 | ) | 2,119.20 | Product sales and other | — | 551.4 | 358.2 | (57.5 | ) | 852.1 | |||||||||||||||||||||||||||||||||||||||
Cost of products sold | — | 185 | 107.1 | (45.2 | ) | 246.9 | Reimbursable debit network fees, postage and other | — | 2,445.00 | 1,159.10 | (72.6 | ) | 3,531.50 | |||||||||||||||||||||||||||||||||||||||
Selling, general and administrative | 93.7 | 923.4 | 403 | — | 1,420.10 | — | 7,052.30 | 3,954.40 | (293.1 | ) | 10,713.60 | |||||||||||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 1,869.50 | 727 | — | 2,596.50 | Expenses: | ||||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | 5.5 | 490.5 | 322.2 | — | 818.2 | Cost of services (exclusive of items shown below) | — | 1,896.40 | 1,155.00 | (163.0 | ) | 2,888.40 | ||||||||||||||||||||||||||||||||||||||||
Other operating expenses: | Cost of products sold | — | 274.7 | 152.4 | (57.5 | ) | 369.6 | |||||||||||||||||||||||||||||||||||||||||||||
Restructuring, net | 17.1 | 24.8 | 4.1 | — | 46 | Selling, general and administrative | 107.8 | 1,095.40 | 490.5 | — | 1,693.70 | |||||||||||||||||||||||||||||||||||||||||
116.3 | 4,894.60 | 2,447.60 | (211.6 | ) | 7,246.90 | Reimbursable debit network fees, postage and other | — | 2,445.00 | 1,159.10 | (72.6 | ) | 3,531.50 | ||||||||||||||||||||||||||||||||||||||||
Operating (loss) profit | (116.3 | ) | 516.2 | 365 | — | 764.9 | Depreciation and amortization | 8.3 | 743.1 | 493.6 | — | 1,245.00 | ||||||||||||||||||||||||||||||||||||||||
Interest income | 0.1 | 0.1 | 7.8 | — | 8 | Other operating expenses: | ||||||||||||||||||||||||||||||||||||||||||||||
Interest expense | (1,397.2 | ) | (7.6 | ) | (5.4 | ) | — | (1,410.2 | ) | Restructuring, net | (0.6 | ) | 23.1 | 23.9 | — | 46.4 | ||||||||||||||||||||||||||||||||||||
Interest income (expense) from intercompany notes | 236.3 | (233.4 | ) | (2.9 | ) | — | — | Litigation and regulatory settlements | (2.5 | ) | — | — | — | (2.5 | ) | |||||||||||||||||||||||||||||||||||||
Other income (expense) | (30.1 | ) | 4.9 | 4.3 | — | (20.9 | ) | 113 | 6,477.70 | 3,474.50 | (293.1 | ) | 9,772.10 | |||||||||||||||||||||||||||||||||||||||
Equity earnings from consolidated subsidiaries | 371.1 | 103.5 | — | (474.6 | ) | — | Operating (loss) profit | (113.0 | ) | 574.6 | 479.9 | — | 941.5 | |||||||||||||||||||||||||||||||||||||||
(819.8 | ) | (132.5 | ) | 3.8 | (474.6 | ) | (1,423.1 | ) | Interest income | 0.3 | 0.6 | 7 | — | 7.9 | ||||||||||||||||||||||||||||||||||||||
(Loss) income before income taxes and equity earnings in affiliates | (936.1 | ) | 383.7 | 368.8 | (474.6 | ) | (658.2 | ) | Interest expense | (1,812.9 | ) | (7.6 | ) | (12.6 | ) | — | (1,833.1 | ) | ||||||||||||||||||||||||||||||||||
Income tax (benefit) expense | (190.1 | ) | 185 | 106.8 | — | 101.7 | Interest income (expense) from intercompany notes | 306.7 | (311.9 | ) | 5.2 | — | — | |||||||||||||||||||||||||||||||||||||||
Equity earnings in affiliates | — | 135.4 | 0.6 | — | 136 | Other income (expense) | 59 | 68.4 | (3.3 | ) | — | 124.1 | ||||||||||||||||||||||||||||||||||||||||
Net (loss) income | (746.0 | ) | 334.1 | 262.6 | (474.6 | ) | (623.9 | ) | Equity earnings from consolidated subsidiaries | 452.2 | 133.9 | — | (586.1 | ) | — | |||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 39.3 | 82.8 | 122.1 | (994.7 | ) | (116.6 | ) | (3.7 | ) | (586.1 | ) | (1,701.1 | ) | |||||||||||||||||||||||||||||||||||||
Net (loss) income attributable to First Data Corporation | $ | (746.0 | ) | $ | 334.1 | $ | 223.3 | $ | (557.4 | ) | $ | (746.0 | ) | (Loss) income before income taxes and equity earnings in affiliates | (1,107.7 | ) | 458 | 476.2 | (586.1 | ) | (759.6 | ) | ||||||||||||||||||||||||||||||
Comprehensive (loss) income | $ | (810.2 | ) | $ | 285.2 | $ | 200.2 | $ | (362.9 | ) | $ | (687.7 | ) | Income tax (benefit) expense | (591.6 | ) | 243.4 | 78.1 | — | (270.1 | ) | |||||||||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 39.7 | 82.8 | 122.5 | Equity earnings in affiliates | — | 153.6 | (0.2 | ) | — | 153.4 | ||||||||||||||||||||||||||||||||||||||||
Comprehensive (loss) income attributable to First Data Corporation | $ | (810.2 | ) | $ | 285.2 | $ | 160.5 | $ | (445.7 | ) | $ | (810.2 | ) | Net (loss) income | (516.1 | ) | 368.2 | 397.9 | (586.1 | ) | (336.1 | ) | ||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 59.6 | 120.4 | 180 | |||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2012 | Net (loss) income attributable to First Data Corporation | $ | (516.1 | ) | $ | 368.2 | $ | 338.3 | $ | (706.5 | ) | $ | (516.1 | ) | ||||||||||||||||||||||||||||||||||||||
(as corrected) | Comprehensive (loss) income | (477.6 | ) | 418.2 | 319 | (564.1 | ) | (304.5 | ) | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | Consolidated | Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 52.7 | 120.4 | 173.1 | |||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | Comprehensive (loss) income attributable to First Data Corporation | $ | (477.6 | ) | $ | 418.2 | $ | 266.3 | $ | (684.5 | ) | $ | (477.6 | ) | |||||||||||||||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Transaction and processing service fees | $ | — | $ | 1,051.20 | $ | 608.8 | $ | (47.9 | ) | $ | 1,612.10 | Year ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||
Product sales and other | — | 144.6 | 88.2 | (15.3 | ) | 217.5 | (As Corrected) | |||||||||||||||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 610.7 | 234.9 | (1.2 | ) | 844.4 | (in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | ||||||||||||||||||||||||||||||||||||||||
— | 1,806.50 | 931.9 | (64.4 | ) | 2,674.00 | Company | Subsidiaries | Guarantor | Adjustments | |||||||||||||||||||||||||||||||||||||||||||
Expenses: | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of services (exclusive of items shown below) | — | 494.4 | 282.5 | (47.9 | ) | 729 | Revenues: | |||||||||||||||||||||||||||||||||||||||||||||
Cost of products sold | — | 62.2 | 33.2 | (15.3 | ) | 80.1 | Transaction and processing service fees | $ | — | $ | 4,001.70 | $ | 2,328.30 | $ | (148.5 | ) | $ | 6,181.50 | ||||||||||||||||||||||||||||||||||
Selling, general and administrative | 44.7 | 293.5 | 129.7 | — | 467.9 | Product sales and other | — | 542.6 | 319.3 | (52.6 | ) | 809.3 | ||||||||||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 610.7 | 234.9 | (1.2 | ) | 844.4 | Reimbursable debit network fees, postage and other | — | 2,299.80 | 1,160.30 | (70.5 | ) | 3,389.60 | |||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | 1.9 | 175.3 | 116.3 | — | 293.5 | — | 6,844.10 | 3,807.90 | (271.6 | ) | 10,380.40 | |||||||||||||||||||||||||||||||||||||||||
Other operating expenses: | Expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring, net | — | 5.7 | 1.5 | — | 7.2 | Cost of services (exclusive of items shown below) | — | 1,949.60 | 1,222.20 | (148.5 | ) | 3,023.30 | ||||||||||||||||||||||||||||||||||||||||
46.6 | 1,641.80 | 798.1 | (64.4 | ) | 2,422.10 | Cost of products sold | — | 257.8 | 170 | (52.6 | ) | 375.2 | ||||||||||||||||||||||||||||||||||||||||
Operating (loss) profit | (46.6 | ) | 164.7 | 133.8 | — | 251.9 | Selling, general and administrative | 264.7 | 877.2 | 437.8 | — | 1,579.70 | ||||||||||||||||||||||||||||||||||||||||
Interest income | — | — | 2.1 | — | 2.1 | Reimbursable debit network fees, postage and other | — | 2,299.80 | 1,160.30 | (70.5 | ) | 3,389.60 | ||||||||||||||||||||||||||||||||||||||||
Interest expense | (483.8 | ) | (2.3 | ) | (2.5 | ) | — | (488.6 | ) | Depreciation and amortization | 7.6 | 937.9 | 468.9 | — | 1,414.40 | |||||||||||||||||||||||||||||||||||||
Interest income (expense) from intercompany notes | 78.1 | (80.0 | ) | 1.9 | — | — | Other operating expenses: | |||||||||||||||||||||||||||||||||||||||||||||
Other income (expense) | (53.8 | ) | (8.7 | ) | 10.5 | — | (52.0 | ) | Restructuring, net | 12.7 | 46 | 13.3 | — | 72 | ||||||||||||||||||||||||||||||||||||||
Equity earnings from consolidated subsidiaries | 128.5 | 39.6 | — | (168.1 | ) | — | Impairments | — | 7.8 | 3.7 | — | 11.5 | ||||||||||||||||||||||||||||||||||||||||
(331.0 | ) | (51.4 | ) | 12 | (168.1 | ) | (538.5 | ) | Litigation and regulatory settlements | — | (2.0 | ) | — | — | (2.0 | ) | ||||||||||||||||||||||||||||||||||||
(Loss) income before income taxes and equity earnings in affiliates | (377.6 | ) | 113.3 | 145.8 | (168.1 | ) | (286.6 | ) | 285 | 6,374.10 | 3,476.20 | (271.6 | ) | 9,863.70 | ||||||||||||||||||||||||||||||||||||||
Income tax (benefit) expense | (165.6 | ) | 67.5 | 28.7 | — | (69.4 | ) | Operating (loss) profit | (285.0 | ) | 470 | 331.7 | — | 516.7 | ||||||||||||||||||||||||||||||||||||||
Equity earnings in affiliates | — | 42.7 | 0.3 | — | 43 | Interest income | 1 | 1.1 | 5.7 | — | 7.8 | |||||||||||||||||||||||||||||||||||||||||
Net (loss) income | (212.0 | ) | 88.5 | 117.4 | (168.1 | ) | (174.2 | ) | Interest expense | (1,775.2 | ) | (6.4 | ) | (15.0 | ) | — | (1,796.6 | ) | ||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interests | — | — | 14.9 | 22.9 | 37.8 | Interest income (expense) from intercompany notes | 230.3 | (249.7 | ) | 19.4 | — | — | ||||||||||||||||||||||||||||||||||||||||
Net (loss) income attributable to First Data Corporation | $ | (212.0 | ) | $ | 88.5 | $ | 102.5 | $ | (191.0 | ) | $ | (212.0 | ) | Other income (expense) | 2.8 | 31.8 | (24.5 | ) | (26.0 | ) | (15.9 | ) | ||||||||||||||||||||||||||||||
Comprehensive (loss) income | $ | (96.4 | ) | $ | 109.9 | $ | 209 | $ | (277.6 | ) | $ | (55.1 | ) | Equity earnings from consolidated subsidiaries | 249.8 | 150.2 | — | (400.0 | ) | — | ||||||||||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 18.4 | 22.9 | 41.3 | (1,291.3 | ) | (73.0 | ) | (14.4 | ) | (426.0 | ) | (1,804.7 | ) | |||||||||||||||||||||||||||||||||||||
Comprehensive (loss) income attributable to First Data Corporation | $ | (96.4 | ) | $ | 109.9 | $ | 190.6 | $ | (300.5 | ) | $ | (96.4 | ) | (Loss) income before income taxes and equity earnings in affiliates | (1,576.3 | ) | 397 | 317.3 | (426.0 | ) | (1,288.0 | ) | ||||||||||||||||||||||||||||||
Income tax (benefit) expense | (554.5 | ) | 124.3 | 106.4 | — | (323.8 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2012 | Equity earnings in affiliates | — | 117.7 | 1.5 | (1.9 | ) | 117.3 | |||||||||||||||||||||||||||||||||||||||||||||
(as corrected) | Net (loss) income | (1,021.8 | ) | 390.4 | 212.4 | (427.9 | ) | (846.9 | ) | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | Consolidated | Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 49.1 | 125.8 | 174.9 | |||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | Net (loss) income attributable to First Data Corporation | $ | (1,021.8 | ) | $ | 390.4 | $ | 163.3 | $ | (553.7 | ) | $ | (1,021.8 | ) | |||||||||||||||||||||||||||||||||||
Revenues: | Comprehensive (loss) income | (976.8 | ) | 399.5 | 207.2 | (435.1 | ) | (805.2 | ) | |||||||||||||||||||||||||||||||||||||||||||
Transaction and processing service fees | $ | — | $ | 3,112.50 | $ | 1,818.30 | $ | (143.2 | ) | $ | 4,787.60 | Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | — | — | 46 | 125.8 | 171.8 | |||||||||||||||||||||||||||||||||||
Product sales and other | — | 423.9 | 258.5 | (44.5 | ) | 637.9 | Comprehensive (loss) income attributable to First Data Corporation | $ | (976.8 | ) | $ | 399.5 | $ | 161.2 | $ | (560.9 | ) | $ | (977.0 | ) | ||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 1,816.20 | 704.4 | (22.6 | ) | 2,498.00 | ||||||||||||||||||||||||||||||||||||||||||||||
— | 5,352.60 | 2,781.20 | (210.3 | ) | 7,923.50 | |||||||||||||||||||||||||||||||||||||||||||||||
Expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Cost of services (exclusive of items shown below) | — | 1,361.10 | 919.9 | (143.2 | ) | 2,137.80 | ||||||||||||||||||||||||||||||||||||||||||||||
Cost of products sold | — | 192.1 | 103.7 | (44.5 | ) | 251.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Selling, general and administrative | 105.6 | 877.2 | 390.5 | — | 1,373.30 | |||||||||||||||||||||||||||||||||||||||||||||||
Reimbursable debit network fees, postage and other | — | 1,816.20 | 704.4 | (22.6 | ) | 2,498.00 | ||||||||||||||||||||||||||||||||||||||||||||||
Depreciation and amortization | 6 | 541.4 | 349.7 | — | 897.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Other operating expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring, net | (0.2 | ) | 7.3 | 17 | — | 24.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Impairments | — | 5.1 | — | — | 5.1 | |||||||||||||||||||||||||||||||||||||||||||||||
111.4 | 4,800.40 | 2,485.20 | (210.3 | ) | 7,186.70 | |||||||||||||||||||||||||||||||||||||||||||||||
Operating (loss) profit | (111.4 | ) | 552.2 | 296 | — | 736.8 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Other income (expense) | (78.7 | ) | (8.5 | ) | 4.4 | — | (82.8 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Equity earnings from consolidated subsidiaries | 375.9 | 121 | — | (496.9 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||||
(885.1 | ) | (132.9 | ) | 8 | (496.9 | ) | (1,506.9 | ) | ||||||||||||||||||||||||||||||||||||||||||||
(Loss) income before income taxes and equity earnings in affiliates | (996.5 | ) | 419.3 | 304 | (496.9 | ) | (770.1 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Income tax (benefit) expense | (474.6 | ) | 199.8 | 22.5 | — | (252.3 | ) | |||||||||||||||||||||||||||||||||||||||||||||
Equity earnings in affiliates | — | 113.3 | 1.2 | — | 114.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | (521.9 | ) | 332.8 | 282.7 | (496.9 | ) | (403.3 | ) | ||||||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive (loss) income attributable to First Data Corporation | $ | (446.1 | ) | $ | 348 | $ | 235.2 | $ | (583.2 | ) | $ | (446.1 | ) | |||||||||||||||||||||||||||||||||||||||
Schedule of the financial position | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non-Guarantor | Consolidation | Consolidated | As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Subsidiaries | Adjustments | (in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | |||||||||||||||||||||||||||||||||||||||||||
ASSETS | Company | Subsidiaries | Guarantor | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 6.8 | $ | 32.2 | $ | 319.6 | $ | — | $ | 358.6 | ASSETS | |||||||||||||||||||||||||||||||||||||||||
Accounts receivable, net of allowance for doubtful accounts | 6.3 | 792.4 | 833.6 | — | 1,632.30 | Current assets: | ||||||||||||||||||||||||||||||||||||||||||||||
Settlement assets (a) | — | 4,858.00 | 4,323.70 | — | 9,181.70 | Cash and cash equivalents | $ | 228 | $ | 37.2 | $ | 343.1 | $ | — | $ | 608.3 | ||||||||||||||||||||||||||||||||||||
Intercompany notes receivable | 12.5 | — | 22.6 | (35.1 | ) | — | Accounts receivable, net of allowance for doubtful accounts | 4.4 | 879.7 | 963.6 | — | 1,847.70 | ||||||||||||||||||||||||||||||||||||||||
Other current assets | 71 | 205.9 | 74.8 | — | 351.7 | Settlement assets (a) | — | 5,097.10 | 4,076.70 | — | 9,173.80 | |||||||||||||||||||||||||||||||||||||||||
Total current assets | 96.6 | 5,888.50 | 5,574.30 | (35.1 | ) | 11,524.30 | Intercompany notes receivable | — | — | 30.8 | (30.8 | ) | — | |||||||||||||||||||||||||||||||||||||||
Property and equipment, net of accumulated depreciation | 28.4 | 592.8 | 245.7 | — | 866.9 | Other current assets | 73 | 145.3 | 35.3 | — | 253.6 | |||||||||||||||||||||||||||||||||||||||||
Goodwill | — | 9,483.90 | 7,748.10 | — | 17,232.00 | Total current assets | 305.4 | 6,159.30 | 5,449.50 | (30.8 | ) | 11,883.40 | ||||||||||||||||||||||||||||||||||||||||
Customer relationships, net of accumulated amortization | — | 1,838.60 | 1,484.00 | — | 3,322.60 | Property and equipment, net of accumulated depreciation | 30.7 | 561.4 | 263.7 | — | 855.8 | |||||||||||||||||||||||||||||||||||||||||
Other intangibles, net of accumulated amortization | 604.5 | 556.2 | 566.2 | — | 1,726.90 | Goodwill | — | 9,485.30 | 7,797.20 | — | 17,282.50 | |||||||||||||||||||||||||||||||||||||||||
Investment in affiliates | — | 1,308.50 | 30.2 | — | 1,338.70 | Customer relationships, net of accumulated amortization | — | 2,071.70 | 1,684.60 | — | 3,756.30 | |||||||||||||||||||||||||||||||||||||||||
Long-term settlement assets (a) | — | — | 18.6 | — | 18.6 | Other intangibles, net of accumulated amortization | 605 | 619.7 | 603.9 | — | 1,828.60 | |||||||||||||||||||||||||||||||||||||||||
Long-term intercompany receivables | — | 6,336.90 | 1,296.40 | (7,633.3 | ) | — | Investment in affiliates | — | 1,375.20 | 37.9 | — | 1,413.10 | ||||||||||||||||||||||||||||||||||||||||
Long-term intercompany notes receivable | 3,496.60 | 284.1 | 0.4 | (3,781.1 | ) | — | Long-term settlement assets (a) | — | — | 54.3 | — | 54.3 | ||||||||||||||||||||||||||||||||||||||||
Long-term deferred tax assets | 930.9 | — | — | (930.9 | ) | — | Long-term intercompany receivables | — | 5,501.30 | 1,141.10 | (6,642.4 | ) | — | |||||||||||||||||||||||||||||||||||||||
Other long-term assets | 373.5 | 405.2 | 144.4 | (109.4 | ) | 813.7 | Long-term intercompany notes receivable | 3,397.30 | 270 | 8.4 | (3,675.7 | ) | — | |||||||||||||||||||||||||||||||||||||||
Investment in consolidated subsidiaries | 24,665.80 | 5,312.60 | — | (29,978.4 | ) | — | Other long-term assets | 427.1 | 373.5 | 108.2 | (83.8 | ) | 825 | |||||||||||||||||||||||||||||||||||||||
Total assets | $ | 30,196.30 | $ | 32,007.30 | $ | 17,108.30 | $ | (42,468.2 | ) | $ | 36,843.70 | Investment in consolidated subsidiaries | 24,257.20 | 5,379.50 | — | (29,636.7 | ) | — | ||||||||||||||||||||||||||||||||||
LIABILITIES AND EQUITY | Total assets | $ | 29,022.70 | $ | 31,796.90 | $ | 17,148.80 | $ | (40,069.4 | ) | $ | 37,899.00 | ||||||||||||||||||||||||||||||||||||||||
Current liabilities: | LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts payable | $ | 5.2 | $ | 171.1 | $ | 78.3 | $ | — | $ | 254.6 | Current liabilities: | |||||||||||||||||||||||||||||||||||||||||
Short-term and current portion of long-term borrowings | 95.5 | 65.7 | 87.1 | — | 248.3 | Accounts payable | $ | 13.8 | $ | 141.8 | $ | 105.3 | $ | — | $ | 260.9 | ||||||||||||||||||||||||||||||||||||
Settlement obligations (a) | — | 4,858.00 | 4,339.60 | — | 9,197.60 | Short-term and current portion of long-term borrowings | 15.1 | 55.1 | 186.9 | — | 257.1 | |||||||||||||||||||||||||||||||||||||||||
Intercompany notes payable | 22.7 | 12.5 | — | (35.2 | ) | — | Settlement obligations (a) | — | 5,097.10 | 4,129.20 | — | 9,226.30 | ||||||||||||||||||||||||||||||||||||||||
Other current liabilities | 471 | 567.8 | 332.3 | — | 1,371.10 | Intercompany notes payable | 30.8 | — | — | (30.8 | ) | — | ||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 594.4 | 5,675.10 | 4,837.30 | (35.2 | ) | 11,071.60 | Other current liabilities | 608.1 | 620.3 | 372.2 | — | 1,600.60 | ||||||||||||||||||||||||||||||||||||||||
Long-term borrowings | 22,460.90 | 91.7 | 12.5 | — | 22,565.10 | Total current liabilities | 667.8 | 5,914.30 | 4,793.60 | (30.8 | ) | 11,344.90 | ||||||||||||||||||||||||||||||||||||||||
Long-term deferred tax liabilities | — | 1,291.50 | 192.5 | (930.9 | ) | 553.1 | Long-term borrowings | 22,462.30 | 47.8 | 18.8 | — | 22,528.90 | ||||||||||||||||||||||||||||||||||||||||
Long-term intercompany payables | 7,633.30 | — | — | (7,633.3 | ) | — | Long-term deferred tax (assets) liabilities | (1,079.7 | ) | 1,512.70 | 76.5 | — | 509.5 | |||||||||||||||||||||||||||||||||||||||
Long-term intercompany notes payable | 286.1 | 3,413.00 | 81.9 | (3,781.0 | ) | — | Long-term intercompany payables | 6,642.40 | — | — | (6,642.4 | ) | — | |||||||||||||||||||||||||||||||||||||||
Other long-term liabilities | 617.2 | 226.6 | 51.7 | (109.4 | ) | 786.1 | Long-term intercompany notes payable | 276.7 | 3,315.60 | 83.4 | (3,675.7 | ) | — | |||||||||||||||||||||||||||||||||||||||
Total liabilities | 31,591.90 | 10,697.90 | 5,175.90 | (12,489.8 | ) | 34,975.90 | Other long-term liabilities | 651.7 | 222.7 | 31.3 | (83.8 | ) | 821.9 | |||||||||||||||||||||||||||||||||||||||
Redeemable equity interest | — | — | 67.9 | (67.9 | ) | — | Total liabilities | 29,621.20 | 11,013.10 | 5,003.60 | (10,432.7 | ) | 35,205.20 | |||||||||||||||||||||||||||||||||||||||
Redeemable noncontrolling interest | — | — | — | 67.9 | 67.9 | Redeemable equity interest | — | — | 67.4 | (67.4 | ) | — | ||||||||||||||||||||||||||||||||||||||||
First Data Corporation stockholder’s (deficit) equity | (1,395.6 | ) | 21,309.40 | 5,457.10 | (26,766.5 | ) | (1,395.6 | ) | Redeemable noncontrolling interest | — | — | — | 67.4 | 67.4 | ||||||||||||||||||||||||||||||||||||||
Noncontrolling interests | — | — | 84.2 | 3,111.30 | 3,195.50 | First Data Corporation stockholder’s equity | (598.5 | ) | 20,783.80 | 5,598.90 | (26,382.7 | ) | (598.5 | ) | ||||||||||||||||||||||||||||||||||||||
Equity of consolidated alliance | — | — | 6,323.20 | (6,323.2 | ) | — | Noncontrolling interests | — | — | 70.5 | 3,154.40 | 3,224.90 | ||||||||||||||||||||||||||||||||||||||||
Total equity | (1,395.6 | ) | 21,309.40 | 11,864.50 | (29,978.4 | ) | 1,799.90 | Equity of consolidated alliance | — | — | 6,408.40 | (6,408.4 | ) | — | ||||||||||||||||||||||||||||||||||||||
Total liabilities and equity | $ | 30,196.30 | $ | 32,007.30 | $ | 17,108.30 | $ | (42,468.2 | ) | $ | 36,843.70 | 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 | |||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | As of December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Guarantor | Adjustments | (As Corrected) | ||||||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | (in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||||
ASSETS | Company | Subsidiaries | Guarantor | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 228 | $ | 37.2 | $ | 343.1 | $ | — | $ | 608.3 | ASSETS | |||||||||||||||||||||||||||||||||||||||||
Accounts receivable, net of allowance for doubtful accounts | 4.4 | 879.7 | 963.6 | — | 1,847.70 | Current assets: | ||||||||||||||||||||||||||||||||||||||||||||||
Settlement assets (a) | — | 5,097.10 | 4,076.70 | — | 9,173.80 | Cash and cash equivalents | $ | 162.2 | $ | 37.1 | $ | 286.4 | $ | — | $ | 485.7 | ||||||||||||||||||||||||||||||||||||
Intercompany notes receivable | — | — | 30.8 | (30.8 | ) | — | Accounts receivable, net of allowance for doubtful accounts | 25.3 | 939.4 | 883.9 | — | 1,848.60 | ||||||||||||||||||||||||||||||||||||||||
Other current assets | 73 | 145.3 | 35.3 | — | 253.6 | Settlement assets (a) | — | 6,093.20 | 4,565.10 | — | 10,658.30 | |||||||||||||||||||||||||||||||||||||||||
Total current assets | 305.4 | 6,159.30 | 5,449.50 | (30.8 | ) | 11,883.40 | Intercompany notes receivable | 12.2 | — | 86.1 | (98.3 | ) | — | |||||||||||||||||||||||||||||||||||||||
Property and equipment, net of accumulated depreciation | 30.7 | 561.4 | 263.7 | — | 855.8 | Other current assets | 45.7 | 212 | 65.2 | — | 322.9 | |||||||||||||||||||||||||||||||||||||||||
Goodwill | — | 9,485.30 | 7,797.20 | — | 17,282.50 | Total current assets | 245.4 | 7,281.70 | 5,886.70 | (98.3 | ) | 13,315.50 | ||||||||||||||||||||||||||||||||||||||||
Customer relationships, net of accumulated amortization | — | 2,071.70 | 1,684.60 | — | 3,756.30 | Property and equipment, net of accumulated depreciation | 31.4 | 623.5 | 281 | — | 935.9 | |||||||||||||||||||||||||||||||||||||||||
Other intangibles, net of accumulated amortization | 605 | 619.7 | 603.9 | — | 1,828.60 | Goodwill | — | 9,430.90 | 7,773.70 | — | 17,204.60 | |||||||||||||||||||||||||||||||||||||||||
Investment in affiliates | — | 1,375.20 | 37.9 | — | 1,413.10 | Customer relationships, net of accumulated amortization | — | 2,468.40 | 1,957.00 | — | 4,425.40 | |||||||||||||||||||||||||||||||||||||||||
Long-term settlement assets (a) | — | — | 54.3 | — | 54.3 | Other intangibles, net of accumulated amortization | 606.8 | 638.7 | 633.7 | — | 1,879.20 | |||||||||||||||||||||||||||||||||||||||||
Long-term intercompany receivables | — | 5,501.30 | 1,141.10 | (6,642.4 | ) | — | Investment in affiliates | — | 1,452.80 | 37.8 | — | 1,490.60 | ||||||||||||||||||||||||||||||||||||||||
Long-term intercompany notes receivable | 3,397.30 | 270 | 8.4 | (3,675.7 | ) | — | Long-term settlement assets (a) | — | — | 181 | — | 181 | ||||||||||||||||||||||||||||||||||||||||
Long-term deferred tax assets | 1,028.00 | — | — | (1,028.0 | ) | — | Long-term intercompany receivables | — | 4,330.20 | 962.7 | (5,292.9 | ) | — | |||||||||||||||||||||||||||||||||||||||
Other long-term assets | 427.1 | 373.5 | 108.2 | (83.8 | ) | 825 | Long-term intercompany notes receivable | 3,229.40 | 251.5 | 59 | (3,539.9 | ) | — | |||||||||||||||||||||||||||||||||||||||
Investment in consolidated subsidiaries | 24,308.90 | 5,379.50 | — | (29,688.4 | ) | — | Other long-term assets | 465.7 | 304.3 | 74.1 | — | 844.1 | ||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 30,102.40 | $ | 31,796.90 | $ | 17,148.80 | $ | (41,149.1 | ) | $ | 37,899.00 | Investment in consolidated subsidiaries | 23,797.40 | 5,843.00 | — | (29,640.4 | ) | — | ||||||||||||||||||||||||||||||||||
LIABILITIES AND EQUITY | Total assets | $ | 28,376.10 | $ | 32,625.00 | $ | 17,846.70 | $ | (38,571.5 | ) | $ | 40,276.30 | ||||||||||||||||||||||||||||||||||||||||
Current liabilities: | LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts payable | $ | 13.8 | $ | 141.8 | $ | 105.3 | $ | — | $ | 260.9 | Current liabilities: | |||||||||||||||||||||||||||||||||||||||||
Short-term and current portion of long-term borrowings | 15.1 | 55.1 | 186.9 | — | 257.1 | Accounts payable | $ | 7.1 | $ | 113.4 | $ | 85.4 | $ | — | $ | 205.9 | ||||||||||||||||||||||||||||||||||||
Settlement obligations (a) | — | 5,097.10 | 4,129.20 | — | 9,226.30 | Short-term and current portion of long-term borrowings | 0.3 | 39.6 | 93.5 | — | 133.4 | |||||||||||||||||||||||||||||||||||||||||
Intercompany notes payable | 30.8 | — | — | (30.8 | ) | — | Settlement obligations (a) | — | 6,093.20 | 4,744.60 | — | 10,837.80 | ||||||||||||||||||||||||||||||||||||||||
Other current liabilities | 608.1 | 620.3 | 372.2 | — | 1,600.60 | Intercompany notes payable | 62.5 | 35.8 | — | (98.3 | ) | — | ||||||||||||||||||||||||||||||||||||||||
Total current liabilities | 667.8 | 5,914.30 | 4,793.60 | (30.8 | ) | 11,344.90 | Other current liabilities | 690.5 | 544.5 | 408.1 | — | 1,643.10 | ||||||||||||||||||||||||||||||||||||||||
Long-term borrowings | 22,462.30 | 47.8 | 18.8 | — | 22,528.90 | Total current liabilities | 760.4 | 6,826.50 | 5,331.60 | (98.3 | ) | 12,820.20 | ||||||||||||||||||||||||||||||||||||||||
Long-term deferred tax liabilities | — | 1,445.10 | 92.4 | (1,028.0 | ) | 509.5 | Long-term borrowings | 22,422.40 | 69 | 30.3 | — | 22,521.70 | ||||||||||||||||||||||||||||||||||||||||
Long-term intercompany payables | 6,642.40 | — | — | (6,642.4 | ) | — | Long-term deferred tax (assets) liabilities | (1,091.6 | ) | 1,677.50 | 109.5 | — | 695.4 | |||||||||||||||||||||||||||||||||||||||
Long-term intercompany notes payable | 276.7 | 3,315.60 | 83.4 | (3,675.7 | ) | — | Long-term intercompany payables | 5,292.90 | — | — | (5,292.9 | ) | — | |||||||||||||||||||||||||||||||||||||||
Other long-term liabilities | 651.7 | 222.7 | 31.3 | (83.8 | ) | 821.9 | Long-term intercompany notes payable | 260.6 | 3,196.80 | 82.5 | (3,539.9 | ) | — | |||||||||||||||||||||||||||||||||||||||
Total liabilities | 30,700.90 | 10,945.50 | 5,019.50 | (11,460.7 | ) | 35,205.20 | Other long-term liabilities | 634.8 | 100.1 | 28.7 | — | 763.6 | ||||||||||||||||||||||||||||||||||||||||
Redeemable equity interest | — | — | 67.4 | (67.4 | ) | — | Total liabilities | 28,279.50 | 11,869.90 | 5,582.60 | (8,931.1 | ) | 36,800.90 | |||||||||||||||||||||||||||||||||||||||
Redeemable noncontrolling interest | — | — | — | 67.4 | 67.4 | Redeemable equity interest | — | — | 67.4 | (67.4 | ) | — | ||||||||||||||||||||||||||||||||||||||||
First Data Corporation stockholder’s (deficit) equity | (598.5 | ) | 20,851.40 | 5,583.00 | (26,434.4 | ) | (598.5 | ) | Redeemable noncontrolling interest | — | — | — | 67.4 | 67.4 | ||||||||||||||||||||||||||||||||||||||
Noncontrolling interests | — | — | 70.5 | 3,154.40 | 3,224.90 | First Data Corporation stockholder’s equity | 96.6 | 20,755.10 | 5,534.40 | (26,289.5 | ) | 96.6 | ||||||||||||||||||||||||||||||||||||||||
Equity of consolidated alliance | — | — | 6,408.40 | (6,408.4 | ) | — | Noncontrolling interests | — | — | 60.8 | 3,250.60 | 3,311.40 | ||||||||||||||||||||||||||||||||||||||||
Total equity | (598.5 | ) | 20,851.40 | 12,061.90 | (29,688.4 | ) | 2,626.40 | Equity of consolidated alliance | — | — | 6,601.50 | (6,601.5 | ) | — | ||||||||||||||||||||||||||||||||||||||
Total liabilities and equity | $ | 30,102.40 | $ | 31,796.90 | $ | 17,148.80 | $ | (41,149.1 | ) | $ | 37,899.00 | 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of the cash flows | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2013 | Year ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||
(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 | |||||||||||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | $ | (746.0 | ) | $ | 334.1 | $ | 262.6 | $ | (474.6 | ) | $ | (623.9 | ) | 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: | 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) | 5.5 | 568.5 | 334.1 | — | 908.1 | 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) | 47.2 | 19.9 | (0.2 | ) | — | 66.9 | 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 | (303.8 | ) | (173.9 | ) | (2.0 | ) | 474.6 | (5.1 | ) | 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 | (356.7 | ) | 215.1 | 127.6 | — | (14.0 | ) | (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 | (1,353.8 | ) | 963.7 | 722.1 | — | 332 | Net cash (used in) provided by operating activities | (1,536.6 | ) | 1,561.70 | 742.3 | — | 767.4 | |||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||||||||||||||||||||||||||||||||||||||||||
Payments related to other business previously acquired | — | 0.2 | — | — | 0.2 | Current year acquisitions, net of cash acquired | (33.0 | ) | 0.1 | — | — | (32.9 | ) | |||||||||||||||||||||||||||||||||||||||
Proceeds from dispositions, net of expenses paid and cash disposed | — | 6.8 | 7.7 | — | 14.5 | Contributions to equity method investments | — | (7.9 | ) | — | — | (7.9 | ) | |||||||||||||||||||||||||||||||||||||||
Additions to property and equipment | (0.1 | ) | (63.6 | ) | (68.6 | ) | — | (132.3 | ) | Payments related to other businesses previously acquired | — | (4.4 | ) | — | — | (4.4 | ) | |||||||||||||||||||||||||||||||||||
Proceeds from sale of property and equipment | — | 4.1 | 0.1 | — | 4.2 | Proceeds from sale of property and equipment | — | 7.1 | 0.9 | — | 8 | |||||||||||||||||||||||||||||||||||||||||
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | (0.4 | ) | (91.4 | ) | (36.2 | ) | — | (128.0 | ) | Additions to property and equipment | (2.6 | ) | (88.9 | ) | (101.6 | ) | — | (193.1 | ) | |||||||||||||||||||||||||||||||||
Distributions and dividends from subsidiaries | 146.5 | 131.5 | — | (278.0 | ) | — | 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 | 0.3 | 6 | 0.9 | — | 7.2 | Other investing activities | 228.3 | 219 | 6.7 | (443.6 | ) | 10.4 | ||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 146.3 | (6.4 | ) | (96.1 | ) | (278.0 | ) | (234.2 | ) | Net cash provided by (used in) investing activities | 191.9 | (12.8 | ) | (132.6 | ) | (443.6 | ) | (397.1 | ) | |||||||||||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||||||||||||||||||||||||||||||||||||||||||
Short-term borrowings, net | 95 | — | (98.1 | ) | — | (3.1 | ) | Short-term borrowings, net | — | — | 99.1 | — | 99.1 | |||||||||||||||||||||||||||||||||||||||
Accrued interest funded upon issuance of notes | (6.5 | ) | — | — | — | (6.5 | ) | Accrued interest funded upon issuance of notes | 6.5 | — | — | — | 6.5 | |||||||||||||||||||||||||||||||||||||||
Debt modification (payments) proceeds and related financing costs, net | (49.0 | ) | — | — | — | (49.0 | ) | Debt modification proceeds and related financing costs | 10.8 | — | — | — | 10.8 | |||||||||||||||||||||||||||||||||||||||
Principal payments on long-term debt | (15.4 | ) | (49.9 | ) | (7.1 | ) | — | (72.4 | ) | Principal payments on long-term debt | (3.4 | ) | (56.2 | ) | (23.7 | ) | — | (83.3 | ) | |||||||||||||||||||||||||||||||||
Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interest | — | — | (30.6 | ) | (125.9 | ) | (156.5 | ) | Proceeds from sale-leaseback transactions | — | 13.8 | — | — | 13.8 | ||||||||||||||||||||||||||||||||||||||
Distributions paid to equity holders | — | — | (257.4 | ) | 257.4 | — | Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interests | — | — | (54.0 | ) | (207.9 | ) | (261.9 | ) | |||||||||||||||||||||||||||||||||||||
Redemption of Parent’s redeemable common stock | (7.5 | ) | — | — | — | (7.5 | ) | Distributions paid to equity holders | — | — | (424.0 | ) | 424 | — | ||||||||||||||||||||||||||||||||||||||
Purchase of noncontrolling interest | — | — | (23.7 | ) | — | (23.7 | ) | Purchase of noncontrolling interest | — | — | (25.1 | ) | — | (25.1 | ) | |||||||||||||||||||||||||||||||||||||
Cash dividends | (21.5 | ) | — | (146.5 | ) | 146.5 | (21.5 | ) | Redemption of Parent’s redeemable common stock | (1.7 | ) | — | — | — | (1.7 | ) | ||||||||||||||||||||||||||||||||||||
Intercompany | 991.2 | (914.0 | ) | (77.2 | ) | — | — | Cash dividends | (6.7 | ) | — | (227.5 | ) | 227.5 | (6.7 | ) | ||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 986.3 | (963.9 | ) | (640.6 | ) | 278 | (340.2 | ) | Intercompany | 1,405.00 | (1,502.2 | ) | 97.2 | — | — | |||||||||||||||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | 1.6 | (8.9 | ) | — | (7.3 | ) | Net cash provided by (used in) financing activities | 1,410.50 | (1,544.6 | ) | (558.0 | ) | 443.6 | (248.5 | ) | ||||||||||||||||||||||||||||||||||||
Change in cash and cash equivalents | (221.2 | ) | (5.0 | ) | (23.5 | ) | — | (249.7 | ) | Effect of exchange rate changes on cash and cash equivalents | — | (4.2 | ) | 5 | — | 0.8 | ||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 228 | 37.2 | 343.1 | — | 608.3 | Change in cash and cash equivalents | 65.8 | 0.1 | 56.7 | — | 122.6 | |||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 6.8 | $ | 32.2 | $ | 319.6 | $ | — | $ | 358.6 | 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 | ||||||||||||||||||||||||||||||||||||||||||
Nine months ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(As Corrected) | Year ended December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | (As Corrected) | ||||||||||||||||||||||||||||||||||||||||||||||
Company | Subsidiaries | Guarantor | Adjustments | (in millions) | FDC Parent | Guarantor | Non- | Consolidation | Consolidated | |||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Company | Subsidiaries | Guarantor | Adjustments | ||||||||||||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income | $ | (521.9 | ) | $ | 332.8 | $ | 282.7 | $ | (496.9 | ) | $ | (403.3 | ) | CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||
Adjustments to reconcile to net cash (used in) provided by operating activities: | Net (loss) income | $ | (516.1 | ) | $ | 368.2 | $ | 397.9 | $ | (586.1 | ) | $ | (336.1 | ) | ||||||||||||||||||||||||||||||||||||||
Depreciation and amortization (including amortization netted against equity earnings in affiliates and revenues) | 6 | 638.4 | 359.7 | — | 1,004.10 | Adjustments to reconcile to net cash (used in) provided by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||
Charges related to other operating expenses and other income (expense) | 78.5 | 20.9 | 12.7 | — | 112.1 | Depreciation and amortization (including amortization netted against equity earnings in affiliates and revenues) | 8.3 | 827.4 | 508.5 | — | 1,344.20 | |||||||||||||||||||||||||||||||||||||||||
Other non-cash and non-operating items, net | (346.1 | ) | (194.1 | ) | 5.5 | 496.9 | (37.8 | ) | (Gains) charges related to other operating expenses and other income (expense) | (59.6 | ) | (45.3 | ) | 27.2 | — | (77.7 | ) | |||||||||||||||||||||||||||||||||||
(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 | ) | Other non-cash and non-operating items, net | (360.3 | ) | (209.5 | ) | 11.4 | 586.1 | 27.7 | ||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | (1,267.3 | ) | 1,145.20 | 660.3 | — | 538.2 | (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 | |||||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | Net cash (used in) provided by operating activities | (1,254.7 | ) | 1,324.60 | 1,045.70 | — | 1,115.60 | |||||||||||||||||||||||||||||||||||||||||||||
Current period acquisitions | — | (1.9 | ) | — | — | (1.9 | ) | CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||
Contributions to equity method investments | — | (7.9 | ) | — | — | (7.9 | ) | Current year acquisitions, net of cash acquired | — | (19.1 | ) | (0.1 | ) | — | (19.2 | ) | ||||||||||||||||||||||||||||||||||||
Payments related to other businesses previously acquired | — | (3.2 | ) | — | — | (3.2 | ) | Contributions to equity method investments | — | (161.5 | ) | — | — | (161.5 | ) | |||||||||||||||||||||||||||||||||||||
Additions to property and equipment | (1.7 | ) | (67.3 | ) | (67.3 | ) | — | (136.3 | ) | Payments related to other businesses previously acquired | — | — | 3.2 | — | 3.2 | |||||||||||||||||||||||||||||||||||||
Proceeds from sale of property and equipment | — | 6.9 | 0.9 | — | 7.8 | Proceeds from dispositions, net of expenses paid and cash disposed | — | — | 1.7 | — | 1.7 | |||||||||||||||||||||||||||||||||||||||||
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | (0.7 | ) | (117.1 | ) | (23.4 | ) | — | (141.2 | ) | Proceeds from sale of property and equipment | — | 14.3 | 2.8 | — | 17.1 | |||||||||||||||||||||||||||||||||||||
Distributions and dividends from subsidiaries | 87 | 161.6 | — | (248.6 | ) | — | Additions to property and equipment | (4.6 | ) | (101.3 | ) | (97.0 | ) | — | (202.9 | ) | ||||||||||||||||||||||||||||||||||||
Other investing activities | 1.9 | 0.5 | 4.9 | — | 7.3 | Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | (1.0 | ) | (161.6 | ) | (39.3 | ) | — | (201.9 | ) | |||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 86.5 | (28.4 | ) | (84.9 | ) | (248.6 | ) | (275.4 | ) | Distributions and dividends from subsidiaries | 109.7 | 294.5 | — | (404.2 | ) | — | ||||||||||||||||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | Other investing activities | 1.5 | 6.9 | (3.5 | ) | — | 4.9 | |||||||||||||||||||||||||||||||||||||||||||||
Short-term borrowings, net | — | — | (22.0 | ) | — | (22.0 | ) | Net cash provided by (used in) investing activities | 105.6 | (127.8 | ) | (132.2 | ) | (404.2 | ) | (558.6 | ) | |||||||||||||||||||||||||||||||||||
Accrued interest funded upon issuance of notes | 6.5 | — | — | — | 6.5 | CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||||||||||||||||||||||||||||||||||
Debt modification proceeds and related financing costs, net | 10.8 | — | — | — | 10.8 | Short-term borrowings, net | — | — | (107.3 | ) | — | (107.3 | ) | |||||||||||||||||||||||||||||||||||||||
Principal payments on long-term debt | (0.2 | ) | (44.9 | ) | (15.1 | ) | — | (60.2 | ) | Debt modification and related financing costs | (39.7 | ) | — | — | — | (39.7 | ) | |||||||||||||||||||||||||||||||||||
Proceeds from sale-leaseback transactions | — | 13.8 | — | — | 13.8 | Principal payments on long-term debt | (32.9 | ) | (52.7 | ) | (18.9 | ) | — | (104.5 | ) | |||||||||||||||||||||||||||||||||||||
Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interest | — | — | (45.4 | ) | (153.6 | ) | (199.0 | ) | Proceeds from sale-leaseback transactions | — | 2.5 | 11.7 | — | 14.2 | ||||||||||||||||||||||||||||||||||||||
Distributions paid to equity holders | — | — | (313.2 | ) | 313.2 | — | Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interests | — | — | (44.2 | ) | (283.1 | ) | (327.3 | ) | |||||||||||||||||||||||||||||||||||||
Redemption of Parent’s redeemable common stock | (0.5 | ) | — | — | — | (0.5 | ) | Contributions from noncontrolling interest | — | — | 0.8 | — | 0.8 | |||||||||||||||||||||||||||||||||||||||
Purchase of noncontrolling interest | — | — | (25.1 | ) | — | (25.1 | ) | Distributions paid to equity holders | — | — | (577.6 | ) | 577.6 | — | ||||||||||||||||||||||||||||||||||||||
Cash dividends | (5.1 | ) | — | (89.0 | ) | 89 | (5.1 | ) | Redemption of Parent’s redeemable common stock | (0.5 | ) | — | — | — | (0.5 | ) | ||||||||||||||||||||||||||||||||||||
Intercompany | 1,137.10 | (1,098.2 | ) | (38.9 | ) | — | — | Cash dividends | (0.2 | ) | — | (109.7 | ) | 109.7 | (0.2 | ) | ||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 1,148.60 | (1,129.3 | ) | (548.7 | ) | 248.6 | (280.8 | ) | Intercompany | 1,220.50 | (1,116.4 | ) | (104.1 | ) | — | — | ||||||||||||||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | (4.0 | ) | 6.5 | — | 2.5 | Net cash provided by (used in) financing activities | 1,147.20 | (1,166.6 | ) | (949.3 | ) | 404.2 | (564.5 | ) | |||||||||||||||||||||||||||||||||||||
Change in cash and cash equivalents | (32.2 | ) | (16.5 | ) | 33.2 | — | (15.5 | ) | Effect of exchange rate changes on cash and cash equivalents | — | (14.2 | ) | (2.1 | ) | — | (16.3 | ) | |||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 162.2 | 37.1 | 286.4 | — | 485.7 | Change in cash and cash equivalents | (1.9 | ) | 16 | (37.9 | ) | — | (23.8 | ) | ||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 130 | $ | 20.6 | $ | 319.6 | $ | — | $ | 470.2 | Cash and cash equivalents at beginning of period | 164.1 | 21.1 | 324.3 | — | 509.5 | ||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 162.2 | $ | 37.1 | $ | 286.4 | $ | — | $ | 485.7 | ||||||||||||||||||||||||||||||||||||||||||
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 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | (1,506.3 | ) | 1,306.50 | 957.5 | (3.0 | ) | 754.7 | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 223.7 | 91.4 | (96.1 | ) | (548.2 | ) | (329.2 | ) | ||||||||||||||||||||||||||||||||||||||||||||
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 | ) | — | — | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
Change in cash and cash equivalents | 59.5 | (4.3 | ) | (282.7 | ) | — | (227.5 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at beginning of period | 104.6 | 25.4 | 607 | — | 737 | |||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents at end of period | $ | 164.1 | $ | 21.1 | $ | 324.3 | $ | — | $ | 509.5 | ||||||||||||||||||||||||||||||||||||||||||
Basis_of_Presentation_Details
Basis of Presentation (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Basis of Presentation | ' | ' | ' | ' | ' | ' | ' |
Amortization of initial payments for new contracts | $10.40 | $12 | $30.70 | $33.70 | $44.50 | $42.50 | $38.60 |
Amortization related to equity method investments | 19.7 | 21.4 | 59.2 | 73.3 | 94.8 | 56.7 | 73 |
Revenue Recognition | ' | ' | ' | ' | ' | ' | ' |
Interchange fees and assessments | 4,925 | 4,669.40 | 14,319.70 | 13,588.30 | 18,373 | 18,826.10 | 17,834.80 |
Debit network fees | $727.90 | $702 | $2,157 | $2,070.90 | $2,786.30 | $2,959.10 | $2,798.30 |
Supplemental_Financial_Informa6
Supplemental Financial Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Supplemental Statement of Operations Information | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment (losses) and gains | ' | ' | ($8.10) | ' | ' | ' | ' | ' | ' | $2.30 | ($7.80) | ($7.70) | ' | $2.50 |
Derivative financial instruments losses | -25.5 | ' | -43 | ' | ' | ' | ' | ' | ' | -11.3 | -86.8 | -91.4 | 58.2 | -58.3 |
Divestitures, net | 2.3 | ' | ' | ' | ' | ' | ' | ' | ' | 2.3 | ' | ' | 57.4 | 18.7 |
Non-operating foreign currency (losses) and gains | -13 | ' | -0.9 | ' | ' | ' | ' | ' | ' | -14.2 | 11.8 | 4.8 | 5.3 | 21.2 |
Other income (expense) | ($36.20) | ($11.50) | ($52) | ($22.60) | ($8.20) | $56.40 | $95.40 | ($1.40) | ($26.30) | ($20.90) | ($82.80) | ($94.30) | $124.10 | ($15.90) |
Supplemental_Financial_Informa7
Supplemental Financial Information (Details 2) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Supplemental Financial Information | ' | ' | ' | ' | ' |
Net changes in settlement assets and obligations | $0 | ' | ' | ' | ' |
Debt | ' | ' | ' | ' | ' |
Capital leases, net of trade-ins | $109 | $49 | $55 | $106 | $65 |
Restructuring_Details1
Restructuring (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
item | item | item | item | item | item | item | |
Net pretax benefits (charges), incurred by segment | ' | ' | ' | ' | ' | ' | ' |
Approximate Number of Employees | 100 | 10 | 460 | 580 | 650 | 750 | 1,200 |
Total pretax charge, net of reversals | ($7.80) | ($7.20) | ($46) | ($24.10) | ($23.10) | ($46.40) | ($72) |
Retail and Alliance Services | ' | ' | ' | ' | ' | ' | ' |
Net pretax benefits (charges), incurred by segment | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | -1.8 | -4.4 | -16.9 | -7.4 | -7.5 | -2.8 | -20.3 |
Changes in estimates | 1.2 | ' | 1.9 | 1 | 1 | 1.1 | 0.7 |
Total pretax charge, net of reversals | -0.6 | -4.4 | -15 | -6.4 | -6.5 | -1.7 | -19.6 |
Financial Services | ' | ' | ' | ' | ' | ' | ' |
Net pretax benefits (charges), incurred by segment | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | -3.6 | ' | -8.5 | ' | ' | -10.5 | -11.3 |
Changes in estimates | 0.2 | ' | 0.2 | ' | ' | ' | 0.8 |
Total pretax charge, net of reversals | -3.4 | ' | -8.3 | ' | ' | -10.5 | -10.5 |
International | ' | ' | ' | ' | ' | ' | ' |
Net pretax benefits (charges), incurred by segment | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | -0.6 | -1.7 | -1.4 | -17.8 | -18.5 | -34.2 | -28.2 |
Changes in estimates | 0.6 | 0.1 | 0.6 | 0.8 | 2.8 | 2.5 | 10.9 |
Total pretax charge, net of reversals | ' | -1.6 | -0.8 | -17 | -15.7 | -31.7 | -17.3 |
All Other and Corporate | ' | ' | ' | ' | ' | ' | ' |
Net pretax benefits (charges), incurred by segment | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | -4.1 | -1.2 | -22.4 | -2 | -2.2 | -3.8 | -27.7 |
Changes in estimates | 0.3 | ' | 0.5 | 1.3 | 1.3 | 1.3 | 3.1 |
Total pretax charge, net of reversals | -3.8 | -1.2 | -21.9 | -0.7 | -0.9 | -2.5 | -24.6 |
Totals | ' | ' | ' | ' | ' | ' | ' |
Net pretax benefits (charges), incurred by segment | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | -10.1 | -7.3 | -49.2 | -27.2 | -28.2 | -51.3 | -87.5 |
Changes in estimates | 2.3 | 0.1 | 3.2 | 3.1 | 5.1 | 4.9 | 15.5 |
Total pretax charge, net of reversals | ($7.80) | ($7.20) | ($46) | ($24.10) | ($23.10) | ($46.40) | ($72) |
Restructuring_Details_21
Restructuring (Details 2) (Employee Severance, USD $) | 9 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Severance | ' | ' | ' |
Utilization of restructuring accruals | ' | ' | ' |
Remaining accrual at the beginning of the period | $13.10 | $16.70 | $38.70 |
Expense provision | 49.2 | ' | ' |
Cash payments and other | -30.3 | -26.8 | -62.2 |
Changes in estimates | -3.2 | -5 | -4.8 |
Remaining accrual at the end of the period | $28.80 | $13.10 | $16.70 |
Borrowings_Details1
Borrowings (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Short-term foreign lines of credit and other arrangements | ' | ' | ' |
Short-Term Borrowings | ' | ' | ' |
Amount available | $231 | $346 | $341 |
Amount outstanding | 79.6 | 177.2 | 76.4 |
Uncommitted borrowing arrangement | ' | ' | ' |
Short-Term Borrowings | ' | ' | ' |
Amount outstanding | $48.10 | $130 | $74 |
Borrowings_Details_21
Borrowings (Details 2) (USD $) | 4 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | 31-May-13 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Feb. 13, 2013 | Sep. 27, 2012 | Feb. 13, 2013 | Feb. 13, 2013 | Sep. 27, 2012 | Feb. 13, 2013 | Feb. 13, 2013 | Sep. 27, 2012 | Feb. 13, 2013 | Apr. 10, 2013 | Apr. 10, 2013 | Apr. 15, 2013 | Apr. 15, 2013 | Jan. 30, 2013 | Dec. 31, 2012 | Feb. 13, 2013 | Sep. 30, 2013 | Feb. 13, 2013 | Apr. 10, 2013 | Sep. 30, 2013 | Apr. 10, 2013 | Dec. 31, 2012 | 30-May-13 | Sep. 30, 2013 | Oct. 30, 2013 | 30-May-13 | Sep. 30, 2013 | Oct. 30, 2013 | Aug. 30, 2013 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Mar. 23, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Apr. 10, 2013 | Apr. 10, 2013 | Apr. 15, 2013 | Apr. 15, 2013 |
Letters of credit | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Senior secured term loan facility due September 2018 | Term loans due in 2017 | Term loans due in 2017 | Term loans due in 2018 | Term loans due in 2018 | 10.55% senior unsecured notes | 10.55% senior unsecured notes | 11.25% senior unsecured notes due 2021 | 11.25% senior unsecured notes due 2021 | 11.25% senior unsecured notes due 2021 | 10.625% senior unsecured notes due 2021 | 10.625% senior unsecured notes due 2021 | 9.875% Senior unsecured notes due 2015 | 9.875% Senior unsecured notes due 2015 | 11.75% senior unsecured subordinated notes due 2021 | 11.75% senior unsecured subordinated notes due 2021 | 11.75% senior unsecured subordinated notes due 2021 | 11.25% senior unsecured subordinated notes due 2016 | 11.25% senior unsecured subordinated notes due 2016 | 11.25% senior unsecured subordinated notes due 2016 | Notes due 2013 | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Senior Secured Credit Facilities | Repricing Amendments to the Senior Secured Credit Facilities | Repricing Amendments to the Senior Secured Credit Facilities | Repricing Amendments to the Senior Secured Credit Facilities | Repricing Amendments to the Senior Secured Credit Facilities | |||||
Subsequent event | LIBOR | LIBOR | LIBOR | Base rate | Base rate | Base rate | LIBOR | Base rate | LIBOR | Base rate | Subsequent event | Subsequent event | Subsequent event | U.S. denominated term loan | Senior Secured Revolving Credit Facility | Senior Secured Revolving Credit Facility | Senior Secured Revolving Credit Facility | Letters of credit | Letters of credit | Letters of credit | Senior secured term loan facility due September 2018 | Term loans due in 2017 | Term loans due in 2017 | Term loans due in 2017 | Term loans due in 2017 | Term loans due in 2017 | Term loans due in 2018 | Term loans due in 2018 | |||||||||||||||||||||
U.S. denominated term loan | U.S. denominated term loan | U.S. denominated term loan | Subsequent event | LIBOR | U.S. denominated term loan | U.S. denominated term loan | LIBOR | Base rate | LIBOR | Base rate | |||||||||||||||||||||||||||||||||||||||
Subsequent event | |||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit commitment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,016.20 | $1,515.30 | ' | $500 | $500 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of debt issued | ' | ' | ' | ' | 45.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48.1 | 45.1 | 45 | ' | ' | ' | ' | ' | ' | ' | ' |
Amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95 | 0 | ' | ' | ' | ' | 728.6 | ' | 2,658.60 | 2,424.20 | ' | ' | ' | ' |
Remaining amount available | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 873.1 | ' | ' | ' | 1,470.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable interest rate basis | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | 'LIBOR | 'LIBOR | 'base rate | 'Base Rate | 'base rate | 'LIBOR | 'base rate | 'LIBOR | 'base rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR | ' | ' | ' | 'LIBOR | ' | ' | 'LIBOR | 'LIBOR | 'base rate | 'LIBOR | 'base rate |
Basis spread on variable interest rate basis (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 5.00% | 5.00% | 4.00% | 4.00% | 4.00% | 5.00% | 4.00% | 5.00% | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | 5.00% | 4.00% | 3.00% | 4.00% | 3.00% |
Issuance of debt | ' | ' | ' | ' | ' | 258 | 750 | 258 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 785 | ' | 785 | 815 | ' | ' | ' | 750 | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.55% | 10.55% | 11.25% | 11.25% | 11.25% | 10.63% | 10.63% | 9.88% | 9.88% | 11.75% | 11.75% | 11.75% | 11.25% | 11.25% | 11.25% | 4.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long term debt redemption price as percentage of principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | 100.00% | 100.00% | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long term debt redemption with net cash proceeds from certain equity offerings as percentage of principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | 35.00% | 35.00% | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long term debt redemption with net cash proceeds from certain equity offerings, redemption price as percentage of principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 111.25% | ' | 111.25% | 110.63% | ' | ' | ' | 111.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period given to complete exchange after the issue date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '360 days | ' | '360 days | '360 days | ' | ' | ' | '360 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in annual interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | 0.25% | 0.25% | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional annual interest rate increase (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | ' | 0.25% | 0.25% | ' | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Registration default period over which additional annual interest rate will be increased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | '90 days | '90 days | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum additional interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | 0.50% | 0.50% | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of debt redeemed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 520 | ' | 1,000 | 15.1 | 89.2 | ' | ' | ' | ' | ' | ' | ' | 807 | ' | ' | ' | ' | ' | ' |
Principal amount of debt repurchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 230 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance costs | 122 | 13.7 | 3.2 | 8.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lender and underwriting fees and other expenses | 60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premium paid related to tender offer and debt repurchases | 62 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discounts on the modified debt and amortized to interest expense | $116.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment_Information_Details1
Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||||
Operating segment results | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: Transaction and processing service fees | $1,620.20 | $1,612.10 | $4,792.50 | $4,787.60 | $6,452.10 | $6,330 | $6,181.50 | |||||||
Revenues: Product sales and other | 215.5 | [1] | 217.5 | [1] | 622.8 | [1] | 637.9 | [1] | 866.7 | [2] | 852.1 | [2] | 809.3 | [2] |
Internal revenue | 17.5 | 15.5 | 49.7 | 45.1 | 61.6 | 65.1 | 62.4 | |||||||
Retail and Alliance Services | ' | ' | ' | ' | ' | ' | ' | |||||||
Operating segment results | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: Transaction and processing service fees | 819.8 | 807.6 | 2,414.60 | 2,363.40 | 3,198.80 | 2,974.50 | 2,923.90 | |||||||
Revenues: Product sales and other | 96.9 | 102.6 | 291.7 | 308 | 404 | 407.5 | 390.9 | |||||||
Total segment reporting revenues | 916.7 | 910.2 | 2,706.30 | 2,671.40 | 3,602.80 | 3,382 | 3,314.80 | |||||||
Internal revenue | 5.8 | 5.4 | 16.7 | 14.9 | 20.2 | 17.5 | 18 | |||||||
External revenue | 910.9 | 904.8 | 2,689.60 | 2,656.50 | 3,582.60 | 3,364.50 | 3,296.80 | |||||||
Depreciation and amortization | 114.1 | 125.5 | 338.2 | 391.5 | 520.1 | 571.1 | 676.2 | |||||||
Segment EBITDA | 410.3 | 409.4 | 1,193.80 | 1,176.60 | 1,594.80 | 1,407.50 | 1,322.30 | |||||||
Other operating expenses and other income (expense) excluding divestitures | -16.8 | -21.9 | 10.8 | -28.8 | -29.1 | -0.4 | -60.2 | |||||||
Financial Services | ' | ' | ' | ' | ' | ' | ' | |||||||
Operating segment results | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: Transaction and processing service fees | 331.1 | 334.5 | 979.5 | 1,011.40 | 1,350 | 1,350 | 1,362.20 | |||||||
Revenues: Product sales and other | 15.3 | 12.6 | 34.7 | 30 | 40.1 | 29.5 | 46.8 | |||||||
Total segment reporting revenues | 346.4 | 347.1 | 1,014.20 | 1,041.40 | 1,390.10 | 1,379.50 | 1,409 | |||||||
Internal revenue | 9.1 | 7.8 | 25.5 | 23.4 | 31.5 | 37.8 | 36 | |||||||
External revenue | 337.3 | 339.3 | 988.7 | 1,018 | 1,358.60 | 1,341.70 | 1,373 | |||||||
Depreciation and amortization | 82.5 | 83.6 | 245.7 | 255.5 | 337.2 | 347.7 | 362.9 | |||||||
Segment EBITDA | 162.7 | 149.5 | 446.5 | 457.2 | 603.1 | 593.5 | 553 | |||||||
Other operating expenses and other income (expense) excluding divestitures | -3.5 | ' | -8.4 | -5.1 | -5.1 | -10.5 | -8.5 | |||||||
International | ' | ' | ' | ' | ' | ' | ' | |||||||
Operating segment results | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: Transaction and processing service fees | 331.4 | 321.9 | 973 | 952.6 | 1,291.20 | 1,337.90 | 1,237.50 | |||||||
Revenues: Product sales and other | 92.8 | 95.8 | 269.5 | 276 | 391 | 388.8 | 353.9 | |||||||
Revenues: Equity earnings in affiliates | 7.4 | 9.3 | 22.6 | 27.9 | 36.2 | 34.6 | 29.4 | |||||||
Total segment reporting revenues | 431.6 | 427 | 1,265.10 | 1,256.50 | 1,718.40 | 1,761.30 | 1,620.80 | |||||||
Internal revenue | 2.6 | 2.3 | 7.5 | 6.8 | 9.9 | 9.8 | 8.4 | |||||||
External revenue | 429 | 424.7 | 1,257.60 | 1,249.70 | 1,708.50 | 1,751.50 | 1,612.40 | |||||||
Depreciation and amortization | 65 | 69.9 | 198.5 | 213.2 | 282.9 | 222.7 | 289.9 | |||||||
Segment EBITDA | 126 | 119.5 | 341.6 | 332.4 | 483.8 | 454.3 | 329.8 | |||||||
Other operating expenses and other income (expense) excluding divestitures | -7.3 | -5.4 | 18.1 | -25.7 | -24.3 | -12.1 | -26.4 | |||||||
All Other and Corporate | ' | ' | ' | ' | ' | ' | ' | |||||||
Operating segment results | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: Transaction and processing service fees | 18.8 | 19.3 | 57 | 66.3 | 85.2 | 108.3 | 126.8 | |||||||
Revenues: Product sales and other | 13.2 | 9.1 | 33.5 | 30.8 | 39.8 | 32.9 | 23.9 | |||||||
Total segment reporting revenues | 32 | 28.4 | 90.5 | 97.1 | 125 | 141.2 | 150.7 | |||||||
External revenue | 32 | 28.4 | 90.5 | 97.1 | 125 | 141.2 | 150.7 | |||||||
Depreciation and amortization | 9.4 | 10.4 | 34.7 | 33.5 | 45.1 | 45.1 | 51.2 | |||||||
Segment EBITDA | -71.9 | -69.9 | -201.7 | -186 | -246 | -206.8 | -178.1 | |||||||
Other operating expenses and other income (expense) excluding divestitures | -18.7 | -31.9 | -89.7 | -52.4 | -64 | 45.8 | -21 | |||||||
Totals | ' | ' | ' | ' | ' | ' | ' | |||||||
Operating segment results | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: Transaction and processing service fees | 1,501.10 | 1,483.30 | 4,424.10 | 4,393.70 | 5,925.20 | 5,770.70 | 5,650.40 | |||||||
Revenues: Product sales and other | 218.2 | 220.1 | 629.4 | 644.8 | 874.9 | 858.7 | 815.5 | |||||||
Revenues: Equity earnings in affiliates | 7.4 | 9.3 | 22.6 | 27.9 | 36.2 | 34.6 | 29.4 | |||||||
Total segment reporting revenues | 1,726.70 | 1,712.70 | 5,076.10 | 5,066.40 | 6,836.30 | 6,664 | 6,495.30 | |||||||
Internal revenue | 17.5 | 15.5 | 49.7 | 45.1 | 61.6 | 65.1 | 62.4 | |||||||
External revenue | 1,709.20 | 1,697.20 | 5,026.40 | 5,021.30 | 6,774.70 | 6,598.90 | 6,432.90 | |||||||
Depreciation and amortization | 271 | 289.4 | 817.1 | 893.7 | 1,185.30 | 1,186.60 | 1,380.20 | |||||||
Segment EBITDA | 627.1 | 608.5 | 1,780.20 | 1,780.20 | 2,435.70 | 2,248.50 | 2,027 | |||||||
Other operating expenses and other income (expense) excluding divestitures | ($46.30) | ($59.20) | ($69.20) | ($112) | ($122.50) | $22.80 | ($116.10) | |||||||
[1] | Includes processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method of $40.3 million and $122.0 million for the three and nine months ended September 30, 2013, respectively, and $40.7 million and $119.4 million for the comparable periods in 2012. | |||||||||||||
[2] | Includes processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method of $159.8 million, $146.0 million and $134.6 million for the years ended December 31, 2012, 2011 and 2010, respectively. |
Segment_Information_Details_21
Segment Information (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Adjustments to reconcile to Adjusted revenue: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Official check and money order revenues | ($0.80) | ' | ($2.30) | ' | ' | ' | ' | ' | ' | ($3.20) | ($11.90) | $12.70 | $9.90 | ($8) |
Eliminations of intersegment revenues | -17.5 | ' | -15.5 | ' | ' | ' | ' | ' | ' | -49.7 | -45.1 | -61.6 | -65.1 | -62.4 |
Adjusted revenue | 1,708.40 | ' | 1,694.90 | ' | ' | ' | ' | ' | ' | 5,023.20 | 5,009.40 | 6,762 | 6,589 | 6,440.90 |
Adjustments to reconcile to Consolidated revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments for non-wholly-owned entities | 3 | ' | 11.8 | ' | ' | ' | ' | ' | ' | 26.3 | 48.5 | 73.2 | 179.7 | 224.1 |
Official check and money order revenues | 0.8 | ' | 2.3 | ' | ' | ' | ' | ' | ' | 3.2 | 11.9 | -12.7 | -9.9 | 8 |
ISO commission expense | 123.5 | ' | 120.6 | ' | ' | ' | ' | ' | ' | 362.6 | 355.7 | 470.9 | 403.5 | 333.8 |
Reimbursable debit network fees, postage and other | 876.4 | ' | 844.4 | ' | ' | ' | ' | ' | ' | 2,596.50 | 2,498 | 3,361.50 | 3,531.50 | 3,389.60 |
Total revenues | 2,712.10 | 2,756.80 | 2,674 | 2,685.50 | 2,564 | 2,687.80 | 2,731.80 | 2,749.80 | 2,544.20 | 8,011.80 | 7,923.50 | 10,680.30 | 10,713.60 | 10,380.40 |
Total reported segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of reportable segment amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Revenues | 1,694.70 | ' | 1,684.30 | ' | ' | ' | ' | ' | ' | 4,985.60 | 4,969.30 | 6,711.30 | 6,522.80 | 6,344.60 |
All Other and Corporate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of reportable segment amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Revenues | $32 | ' | $28.40 | ' | ' | ' | ' | ' | ' | $90.50 | $97.10 | $125 | $141.20 | $150.70 |
Segment_Information_Details_31
Segment Information (Details 3) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||
Reconciliation of reportable segment amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment EBITDA | $627.10 | ' | $608.50 | ' | ' | ' | ' | ' | ' | $1,780.20 | $1,780.20 | ' | ' | ' | ||||
Adjustments to reconcile to "Net loss attributable to First Data Corporation" | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Adjustments for non-wholly owned entities | 0.5 | [1] | ' | 4.1 | [1] | ' | ' | ' | ' | ' | ' | 3.2 | [1] | 3.8 | [1] | 6.8 | 59.5 | 34.3 |
Depreciation and amortization | -271.3 | ' | -293.5 | ' | ' | ' | ' | ' | ' | -818.2 | -897.1 | -1,191.60 | -1,245 | -1,414.40 | ||||
Interest expense | -469 | -467.4 | -488.6 | -480.7 | -461.1 | -461.8 | -466.7 | -462.3 | -442.3 | -1,410.20 | -1,430.40 | -1,897.80 | -1,833.10 | -1,796.60 | ||||
Interest income | 2.7 | 2.5 | 2.1 | 1.7 | 2.5 | 2.5 | 1.6 | 1.9 | 1.9 | 8 | 6.3 | 8.8 | 7.9 | 7.8 | ||||
Other items | -49.8 | [2] | ' | -70.8 | [2] | ' | ' | ' | ' | ' | ' | -86.4 | [2] | -137.1 | [2] | -156.9 | 62.4 | -97.4 |
Income tax (expense) benefit | -28.6 | -28.3 | 69.4 | 74.7 | 108.2 | 15.1 | 18.9 | 88.1 | 148 | -101.7 | 252.3 | 224 | 270.1 | 323.8 | ||||
Stock-based compensation | -5.5 | ' | -3.4 | ' | ' | ' | ' | ' | ' | -36.1 | -10.4 | -11.8 | -16.9 | -16.1 | ||||
Official check and money order EBITDA | 0.4 | ' | 1.4 | ' | ' | ' | ' | ' | ' | 1.9 | 6.2 | 6.4 | -0.5 | -21.2 | ||||
Costs of alliance conversions | -17.8 | ' | -22.8 | ' | ' | ' | ' | ' | ' | -59.1 | -56.5 | -77.2 | -28.4 | -25.7 | ||||
KKR related items | -8.3 | ' | -8.4 | ' | ' | ' | ' | ' | ' | -24.4 | -25.2 | -33.6 | -37.4 | -28.5 | ||||
Debt issuance costs | 0.1 | ' | -10 | ' | ' | ' | ' | ' | ' | -3.2 | -14 | ' | ' | ' | ||||
Net loss attributable to First Data Corporation | -219.5 | -179 | -212 | -157.4 | -152.5 | -69.3 | -53.9 | -175.8 | -217.1 | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 | ||||
Total reported segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reconciliation of reportable segment amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment EBITDA | 699 | ' | 678.4 | ' | ' | ' | ' | ' | ' | 1,981.90 | 1,966.20 | 2,681.70 | 2,455.30 | 2,205.10 | ||||
Adjustments to reconcile to "Net loss attributable to First Data Corporation" | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,141.50 | -1,329 | ||||
All Other and Corporate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reconciliation of reportable segment amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment EBITDA | ($71.90) | ' | ($69.90) | ' | ' | ' | ' | ' | ' | ($201.70) | ($186) | ($246) | ($206.80) | ($178.10) | ||||
[1] | (c) Represents the net adjustment to reflect First Data's proportionate share of alliance revenue and EBITDA within the Retail and Alliance Services segment, equity earnings in affiliates included in International segment revenue and amortization related to equity method investments not included in segment EBITDA. | |||||||||||||||||
[2] | (d) Includes restructuring, certain retention bonuses, litigation and regulatory settlements, and impairments as applicable to the periods presented and "Other income (expense)" as presented in the Consolidated Statements of Operations. |
Segment_Information_Details_41
Segment Information (Details 4) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Segment assets | ' | ' | ' |
Total assets | $36,843.70 | $37,899 | $40,276.30 |
Retail and Alliance Services | ' | ' | ' |
Segment assets | ' | ' | ' |
Total assets | 25,607.60 | 25,885.70 | 27,882.20 |
Financial Services | ' | ' | ' |
Segment assets | ' | ' | ' |
Total assets | 4,192.30 | 4,477.10 | 4,647.80 |
International | ' | ' | ' |
Segment assets | ' | ' | ' |
Total assets | 5,061.40 | 5,305.70 | 5,332.90 |
All Other and Corporate | ' | ' | ' |
Segment assets | ' | ' | ' |
Total assets | $1,982.40 | $2,230.50 | $2,413.40 |
Segment_Information_Details_51
Segment Information (Details 5) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Reconciliation of reportable segment depreciation and amortization amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' |
Adjustments to reconcile to consolidated depreciation and amortization, Adjustments for non-wholly-owned entities | $20 | $25.50 | $60.30 | $76.70 | $101.10 | $115.10 | $107.20 |
Adjustments to reconcile to consolidated depreciation and amortization, Amortization of initial payments for new contracts | 10.4 | 12 | 30.7 | 33.7 | 44.5 | 42.5 | 38.6 |
Total consolidated depreciation and amortization | 301.4 | 326.9 | 908.1 | 1,004.10 | 1,330.90 | 1,344.20 | 1,526 |
Total reported segments | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of reportable segment depreciation and amortization amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | 261.6 | 279 | 782.4 | 860.2 | 1,140.20 | 1,141.50 | 1,329 |
All Other and Corporate | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of reportable segment depreciation and amortization amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | 9.4 | 10.4 | 34.7 | 33.5 | 45.1 | 45.1 | 51.2 |
Totals | ' | ' | ' | ' | ' | ' | ' |
Reconciliation of reportable segment depreciation and amortization amounts to the consolidated balances | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | $271 | $289.40 | $817.10 | $893.70 | $1,185.30 | $1,186.60 | $1,380.20 |
Redeemable_Noncontrolling_Inte2
Redeemable Noncontrolling Interest (Details) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Redeemable noncontrolling interest activity | ' | ' | ' | ' | ' |
Balance at the beginning of the period | $67.40 | $67.40 | $67.40 | $28.10 | ' |
Distributions | -26 | -27.4 | -36 | -31.2 | ' |
Share of income | 24.6 | 26.6 | 36 | 32 | ' |
Adjustment to redemption value of redeemable noncontrolling interest | 2 | ' | ' | -38.6 | -7 |
Other | -0.1 | ' | ' | -0.1 | ' |
Balance at the end of the period | $67.90 | $66.60 | $67.40 | $67.40 | $28.10 |
Commitments_and_Contingencies_3
Commitments and Contingencies (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Commitments and contingencies | ' | ' |
Minimum possible ranges of losses in excess of any amounts accrued | $0 | $0 |
Maximum possible ranges of losses in excess of any amounts accrued | 90 | 85 |
Patent infringement | ' | ' |
Commitments and contingencies | ' | ' |
Minimum possible ranges of losses in excess of any amounts accrued | 0 | 0 |
Maximum possible ranges of losses in excess of any amounts accrued | 40 | 6 |
Merchant matters | ' | ' |
Commitments and contingencies | ' | ' |
Minimum possible ranges of losses in excess of any amounts accrued | 0 | ' |
Maximum possible ranges of losses in excess of any amounts accrued | 45 | ' |
Other matters | ' | ' |
Commitments and contingencies | ' | ' |
Minimum possible ranges of losses in excess of any amounts accrued | 0 | 0 |
Maximum possible ranges of losses in excess of any amounts accrued | $5 | $4 |
Employee_Benefit_Plans_Details4
Employee Benefit Plans (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Components of net periodic benefit expense for the plans | ' | ' | ' | ' | ' | ' | ' |
Estimated pension plan contributions | $36 | ' | $36 | ' | ' | ' | ' |
Defined benefit pension plan | ' | ' | ' | ' | ' | ' | ' |
Components of net periodic benefit expense for the plans | ' | ' | ' | ' | ' | ' | ' |
Service costs | 0.6 | 0.7 | 1.9 | 2.1 | 5 | 6.1 | 3.1 |
Interest costs | 9.3 | 9.3 | 28 | 27.8 | 37.7 | 39.8 | 40 |
Expected return on plan assets | -10.9 | -11.1 | -32.8 | -33.4 | -44.7 | -46.5 | -40.4 |
Amortization | 0.9 | 0.4 | 2.7 | 1.3 | 2.1 | 1.3 | 2.2 |
Net periodic benefit expense (income) | -0.1 | -0.7 | -0.2 | -2.2 | 0.1 | 0.7 | 4.9 |
Company contributions | ' | ' | ' | ' | 31.6 | 29.9 | ' |
United Kingdom plan | ' | ' | ' | ' | ' | ' | ' |
Components of net periodic benefit expense for the plans | ' | ' | ' | ' | ' | ' | ' |
Company contributions | ' | ' | 22 | ' | ' | ' | ' |
U.S. plan | ' | ' | ' | ' | ' | ' | ' |
Components of net periodic benefit expense for the plans | ' | ' | ' | ' | ' | ' | ' |
Company contributions | ' | ' | $7 | ' | ' | ' | ' |
Stock_Compensation_Plans_Detai1
Stock Compensation Plans (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Mar. 31, 2012 | 31-May-10 | Apr. 30, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | First Data Holdings | ||||||||
Executive Officer | Stock options | Stock options | Stock options | Stock options | Stock options | Time-based options | Time-based options | Time-based options | Time-based options | Time-based options | Time-based options | Time-based options | Time-based options | Time-based options | Time-based options | Restricted stock awards and restricted stock units | Restricted stock awards and restricted stock units | Restricted stock | Restricted stock | ||||||||
Minimum | Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Maximum | ||||||||||||||||||||
Stock compensation plans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total stock-based compensation expense (pretax) | $5.50 | $3.60 | $37.10 | $10.90 | $12.40 | $17.60 | $17.10 | $20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '3 years | '3 years | '3 years | '5 years | '5 years | '5 years | '5 years | ' | ' | ' | ' |
Unrecognized compensation expense, related to non-vested awards | ' | ' | ' | ' | ' | ' | ' | ' | 178 | 99 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58 | 41 |
Expected recognition of unrecognized compensation cost over specified period | ' | ' | ' | ' | ' | ' | ' | ' | 3 | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 0.1 |
Specified period of recognition of unrecognized compensation cost | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | '2 years |
Expected recognition of unrecognized compensation cost upon the occurrence of certain liquidity or employment termination events | ' | ' | ' | ' | ' | ' | ' | ' | $175 | $94 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $54 | ' |
Weighted-average assumptions for estimating fair value of stock options granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-free interest rate (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | 1.38% | 1.45% | 2.86% | 3.03% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend yield (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Volatility (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | 56.64% | 51.77% | 54.65% | 51.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected term | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | '7 years | '7 years | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of stock (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $3.50 | $3 | $3 | $3 | $3.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of options (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $1.99 | $1.60 | $1.73 | $1.66 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at the beginning of the period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 77.6 | 73 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 50.2 | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | -5.5 | -0.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancelled / Forfeited (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | -8.3 | -3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at the end of the period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 114 | 77.6 | 73 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options exercisable at the end of the period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 30.3 | 27.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-Average Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at the beginning of the period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $3 | $3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $3.50 | $3 | ' | ' | ' | $3 | $5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $3 | $3.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancelled / Forfeited (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $3.02 | $3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at the end of the period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $3.22 | $3 | $3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options exercisable at the end of the period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $3.02 | $3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Awards/Units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested at the beginning of the period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.6 | 10.9 | ' | ' |
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.6 | 4 | ' | ' |
Vested (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3.1 | -0.7 | ' | ' |
Cancelled / Forfeited (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1.1 | -0.6 | ' | ' |
Non-vested at the end of the period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19 | 13.6 | ' | ' |
Weighted-Average Grant-Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested at the beginning of the period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3 | $3.14 | ' | ' |
Granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.50 | $3 | ' | ' |
Vested (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.23 | $4.74 | ' | ' |
Cancelled / Forfeited (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.02 | $3.16 | ' | ' |
Non-vested at the end of the period (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.21 | $3 | ' | ' |
Investment_Securities_Details1
Investment Securities (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Investment securities | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale securities, Cost | $76,300,000 | ' | $76,300,000 | ' | $178,800,000 | $285,700,000 | ' |
Available-for-sale securities, Gross Unrealized Gain | 2,700,000 | ' | 2,700,000 | ' | 1,700,000 | 1,600,000 | ' |
Available-for-sale securities, Gross Unrealized (Loss) excluding OTTI | ' | ' | ' | ' | -100,000 | -100,000 | ' |
Available-for-sale securities, Fair Value | 79,000,000 | ' | 79,000,000 | ' | 180,400,000 | 287,200,000 | ' |
Cost method investments, Cost | 9,100,000 | ' | 9,100,000 | ' | 13,400,000 | 23,700,000 | ' |
Cost method investments, Fair Value | 9,100,000 | ' | 9,100,000 | ' | 13,400,000 | 23,700,000 | ' |
Totals, Cost | 85,400,000 | ' | 85,400,000 | ' | 192,200,000 | 309,400,000 | ' |
Totals, Fair Value | 88,100,000 | ' | 88,100,000 | ' | 193,800,000 | 310,900,000 | ' |
Additional information regarding available-for-sale securities | ' | ' | ' | ' | ' | ' | ' |
Proceeds from sales | 91,400,000 | 104,200,000 | 257,000,000 | 271,900,000 | ' | ' | ' |
Purchases | 29,500,000 | 51,800,000 | 142,300,000 | 142,500,000 | 194,100,000 | 269,700,000 | 44,400,000 |
Gross realized gains included in earnings as a result of sales | 300,000 | 1,100,000 | 1,300,000 | 4,300,000 | 4,400,000 | 3,600,000 | 6,200,000 |
Net unrealized gains included in OCI, net of tax | 300,000 | ' | 2,200,000 | 2,600,000 | 2,900,000 | -2,000,000 | 7,700,000 |
Net gains reclassified out of OCI into earnings, net of tax | 200,000 | 800,000 | 1,200,000 | 2,800,000 | 2,700,000 | -2,800,000 | -19,800,000 |
Maturity information for the investments in debt securities | ' | ' | ' | ' | ' | ' | ' |
Due within one year | 59,800,000 | ' | 59,800,000 | ' | ' | ' | ' |
Due after one year through five years | 3,500,000 | ' | 3,500,000 | ' | ' | ' | ' |
Due after 10 years | 13,700,000 | ' | 13,700,000 | ' | ' | ' | ' |
Total debt securities | 77,000,000 | ' | 77,000,000 | ' | 179,800,000 | ' | ' |
Impairment related to a cost method investment | ' | 8,700,000 | ' | ' | ' | ' | ' |
Amount of cost method assets for which fair value estimation deemed impracticable | 3,800,000 | ' | 3,800,000 | ' | 8,000,000 | ' | ' |
Student loan auction rate securities | ' | ' | ' | ' | ' | ' | ' |
Investment securities | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale securities, Cost | 12,800,000 | ' | 12,800,000 | ' | 37,600,000 | 169,300,000 | ' |
Available-for-sale securities, Gross Unrealized Gain | 800,000 | ' | 800,000 | ' | 1,200,000 | 1,200,000 | ' |
Available-for-sale securities, Fair Value | 13,600,000 | ' | 13,600,000 | ' | 38,800,000 | 170,500,000 | ' |
Corporate bonds | ' | ' | ' | ' | ' | ' | ' |
Investment securities | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale securities, Cost | 6,100,000 | ' | 6,100,000 | ' | 6,600,000 | 10,300,000 | ' |
Available-for-sale securities, Gross Unrealized (Loss) excluding OTTI | ' | ' | ' | ' | ' | -100,000 | ' |
Available-for-sale securities, Fair Value | 6,100,000 | ' | 6,100,000 | ' | 6,600,000 | 10,200,000 | ' |
Securities in a continuous unrealized loss position with unrealized losses presented by length of time | ' | ' | ' | ' | ' | ' | ' |
Less than 12 months, Fair Value | ' | ' | ' | ' | ' | 10,200,000 | ' |
Less than 12 months, Unrealized Losses | ' | ' | ' | ' | ' | 100,000 | ' |
Total Fair Value | ' | ' | ' | ' | ' | 10,200,000 | ' |
Total Unrealized Losses | ' | ' | ' | ' | ' | -100,000 | ' |
State and municipal obligations | ' | ' | ' | ' | ' | ' | ' |
Investment securities | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale securities, Cost | 57,300,000 | ' | 57,300,000 | ' | 134,500,000 | 96,000,000 | ' |
Available-for-sale securities, Gross Unrealized (Loss) excluding OTTI | ' | ' | ' | ' | -100,000 | ' | ' |
Available-for-sale securities, Fair Value | 57,300,000 | ' | 57,300,000 | ' | 134,400,000 | 96,000,000 | ' |
Securities in a continuous unrealized loss position with unrealized losses presented by length of time | ' | ' | ' | ' | ' | ' | ' |
Less than 12 months, Fair Value | ' | ' | ' | ' | 45,300,000 | ' | ' |
More than 12 months, Fair Value | ' | ' | ' | ' | 100,000 | ' | ' |
Total Fair Value | ' | ' | ' | ' | 45,400,000 | ' | ' |
Total Unrealized Losses | ' | ' | ' | ' | -100,000 | ' | ' |
State and municipal obligations | Maximum | ' | ' | ' | ' | ' | ' | ' |
Securities in a continuous unrealized loss position with unrealized losses presented by length of time | ' | ' | ' | ' | ' | ' | ' |
Less than 12 months, Unrealized Losses | ' | ' | ' | ' | 50,000 | ' | ' |
More than 12 months, Unrealized Losses | ' | ' | ' | ' | 50,000 | ' | ' |
Preferred stock | ' | ' | ' | ' | ' | ' | ' |
Investment securities | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale securities, Cost | 100,000 | ' | 100,000 | ' | 100,000 | ' | ' |
Available-for-sale securities, Gross Unrealized Gain | 1,900,000 | ' | 1,900,000 | ' | 500,000 | ' | ' |
Available-for-sale securities, Fair Value | $2,000,000 | ' | $2,000,000 | ' | $600,000 | ' | ' |
Derivative_Financial_Instrumen7
Derivative Financial Instruments (Details) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Sep. 30, 2012 | Sep. 30, 2010 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Jan. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Mar. 31, 2012 |
In Millions, unless otherwise specified | Interest rate contracts | Interest rate contracts | Interest rate contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Foreign exchange contracts | Forward-starting interest rate swaps | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives Not Qualifying for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivatives that Qualify for Hedge Accounting | Derivative That Have been De-Designated as Accounting Hedges |
USD ($) | USD ($) | USD ($) | AUD | CAD | EUR (€) | GBP (£) | AUD | EUR (€) | AUD | EUR (€) | USD ($) | Interest rate swap | Interest rate swap | Forward-starting interest rate swaps | Forward-starting interest rate swaps | Forward-starting interest rate swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Cross-currency swaps | Interest rate swap | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | EUR (€) | USD ($) | EUR (€) | EUR (€) | EUR (€) | USD ($) | AUD | AUD | AUD expressed in USD | AUD expressed in USD | EUR expressed in USD | EUR expressed in USD | GBP expressed in USD | GBP expressed in USD | CAD expressed in USD | CAD expressed in USD | Hedges of net investments in foreign operations | Hedges of net investments in foreign operations | Hedges of net investments in foreign operations | Hedges of net investments in foreign operations | Hedges of net investments in foreign operations | USD ($) | |||||||||||||
USD ($) | AUD | USD ($) | EUR (€) | USD ($) | GBP (£) | USD ($) | CAD | CAD | GBP (£) | AUD | EUR (€) | AUD | |||||||||||||||||||||||||||||
Derivative Financial Instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional value | $5,750 | $5,750 | $5,750 | 215 | 75 | € 221.50 | £ 100 | 115 | € 91.10 | 115 | € 91.10 | $3,000 | ' | ' | $5,000 | $2,000 | $3,000 | $29.10 | € 21.50 | ' | $120.50 | € 91.10 | € 91.10 | € 91.10 | $119.30 | 115 | 115 | $201.40 | 215 | $270.50 | € 200 | $160.80 | £ 100 | $72.70 | 75 | 75 | £ 100 | 100 | € 200 | 115 | $500 |
Notional value of expired derivative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,000 | $2,500 | ' | ' | ' | ' | ' | € 69.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative_Financial_Instrumen8
Derivative Financial Instruments (Details 2) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Assets | $73.30 | $100.90 | $76.30 |
Liabilities | -148.5 | -172.1 | -196.4 |
Assets subject to master netting agreement | 73.3 | 100.9 | ' |
Liabilities subject to master netting agreement | 115.5 | 126 | ' |
Net liabilities subject to master netting agreement | 42.2 | 25.1 | ' |
Derivatives designated as hedging instruments | ' | ' | ' |
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Liabilities | ' | ' | -39.9 |
Derivatives designated as hedging instruments | Interest rate contracts | ' | ' | ' |
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Liabilities | ' | ' | -12.8 |
Derivatives designated as hedging instruments | Foreign exchange contracts | ' | ' | ' |
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Assets | 11.1 | ' | ' |
Liabilities | -29.2 | -32.8 | -27.1 |
Derivatives not designated as hedging instruments | ' | ' | ' |
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Assets | 62.2 | 100.9 | 76.3 |
Liabilities | -119.3 | -139.3 | -156.5 |
Derivatives not designated as hedging instruments | Interest rate contracts | ' | ' | ' |
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Assets | 62.2 | 90.8 | 65.4 |
Liabilities | -116.9 | -137.7 | -143.9 |
Derivatives not designated as hedging instruments | Foreign exchange contracts | ' | ' | ' |
Fair Value of Derivative Instruments in the Consolidated Balance Sheets | ' | ' | ' |
Assets | ' | 10.1 | 10.9 |
Liabilities | ($2.40) | ($1.60) | ($0.70) |
Derivative_Financial_Instrumen9
Derivative Financial Instruments (Details 3) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Activity in other comprehensive income related to derivative instruments classified as a net investment hedge | ' | ' | ' | ' | ' | ' | ' |
Accumulated loss included in other comprehensive income (loss) at beginning of the period | ' | ' | ($552.20) | ($598.40) | ($598.40) | ($636.90) | ($681.70) |
Increase in fair value of derivative that qualifies for hedge accounting | 79.5 | 96.4 | -68.3 | 3.7 | 15.7 | -44.9 | -84.6 |
Accumulated loss included in other comprehensive income (loss) at end of the period | -616.4 | ' | -616.4 | ' | -552.2 | -598.4 | -636.9 |
Derivatives in cash flow hedging relationships | Interest rate contracts | ' | ' | ' | ' | ' | ' | ' |
Effect of Derivative Instruments of the Consolidated Statement of Operations | ' | ' | ' | ' | ' | ' | ' |
Amount of gain or (loss) reclassified from accumulated OCI into income | ' | ' | ' | ' | -114.9 | -93 | -145.7 |
Amount of gain or (loss) recognized in OCI (effective portion) | ' | ' | ' | ' | ' | 61.3 | -26.2 |
Derivatives in net investment hedging relationships | Foreign exchange contracts | ' | ' | ' | ' | ' | ' | ' |
Effect of Derivative Instruments of the Consolidated Statement of Operations | ' | ' | ' | ' | ' | ' | ' |
Amount of gain or (loss) recognized in OCI (effective portion) | ' | ' | ' | ' | -9.2 | -9.4 | -14.8 |
Derivatives designated as hedging instruments | Derivatives in cash flow hedging relationships | Interest rate contracts | ' | ' | ' | ' | ' | ' | ' |
Effect of Derivative Instruments of the Consolidated Statement of Operations | ' | ' | ' | ' | ' | ' | ' |
Amount of gain or (loss) reclassified from accumulated OCI into income | ' | -37.9 | ' | -114.8 | ' | ' | ' |
Derivatives designated as hedging instruments | Derivatives in net investment hedging relationships | ' | ' | ' | ' | ' | ' | ' |
Activity in other comprehensive income related to derivative instruments classified as a net investment hedge | ' | ' | ' | ' | ' | ' | ' |
Accumulated loss included in other comprehensive income (loss) at beginning of the period | ' | ' | -21.1 | ' | ' | ' | ' |
Increase in fair value of derivative that qualifies for hedge accounting | ' | ' | 11.5 | ' | ' | ' | ' |
Accumulated loss included in other comprehensive income (loss) at end of the period | -9.6 | ' | -9.6 | ' | ' | ' | ' |
Derivatives designated as hedging instruments | Derivatives in net investment hedging relationships | Foreign exchange contracts | ' | ' | ' | ' | ' | ' | ' |
Effect of Derivative Instruments of the Consolidated Statement of Operations | ' | ' | ' | ' | ' | ' | ' |
Amount of gain or (loss) recognized in OCI (effective portion) | -20.3 | -3.7 | 11.7 | -7.1 | ' | ' | ' |
Derivatives not designated as hedging instruments | Interest rate contracts | ' | ' | ' | ' | ' | ' | ' |
Derivatives not designated as hedging instruments | ' | ' | ' | ' | ' | ' | ' |
Amount of gain or (loss) recognized in income | -24.3 | -41.2 | -10.1 | -88.4 | -89.9 | 58 | -61.6 |
Derivatives not designated as hedging instruments | Foreign exchange contracts | ' | ' | ' | ' | ' | ' | ' |
Derivatives not designated as hedging instruments | ' | ' | ' | ' | ' | ' | ' |
Amount of gain or (loss) recognized in income | ($1.20) | ($1.80) | ($1.20) | $1.60 | ($1.50) | $2.50 | $9.10 |
Fair_Value_Measurement_Details6
Fair Value Measurement (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Other current assets | $351.70 | $253.60 | $322.90 |
Other long-term assets | 813.7 | 825 | 844.1 |
Other current liabilities | 1,371.10 | 1,600.60 | 1,643.10 |
Long-term borrowings | 22,565.10 | 22,528.90 | 22,521.70 |
Other long-term liabilities | 786.1 | 821.9 | 763.6 |
Carrying Value | Short-term investment securities | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Settlement assets | 59.8 | 125.6 | 105.7 |
Carrying Value | Long-term investment securities | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Settlement assets | 18.6 | 54.3 | 181 |
Other long-term assets | 0.6 | 0.5 | 0.5 |
Carrying Value | Derivative financial instruments | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Other current assets | 6.7 | 11.1 | ' |
Other long-term assets | 66.6 | 89.8 | 76.3 |
Other current liabilities | 21.6 | 0.3 | 156.7 |
Other long-term liabilities | 126.9 | 171.8 | 39.7 |
Carrying Value | Cost method investments | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Other long-term assets | 9.1 | 13.4 | 23.7 |
Carrying Value | Long-term borrowings | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Long-term borrowings | 22,565.10 | 22,528.90 | 22,521.70 |
Fair Value | Short-term investment securities | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Settlement assets | 59.8 | 125.6 | 105.7 |
Fair Value | Long-term investment securities | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Settlement assets | 18.6 | 54.3 | 181 |
Other long-term assets | 0.6 | 0.5 | 0.5 |
Fair Value | Derivative financial instruments | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Other current assets | 6.7 | 11.1 | ' |
Other long-term assets | 66.6 | 89.8 | 76.3 |
Other current liabilities | 21.6 | 0.3 | 156.7 |
Other long-term liabilities | 126.9 | 171.8 | 39.7 |
Fair Value | Cost method investments | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Other long-term assets | 9.1 | 13.4 | 23.7 |
Fair Value | Long-term borrowings | ' | ' | ' |
Carrying value and estimated fair value of financial instruments | ' | ' | ' |
Long-term borrowings | $23,359.30 | ' | ' |
Fair_Value_Measurement_Details7
Fair Value Measurement (Details 2) (Investment portfolio, Carrying value of the investment portfolio, Maximum) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Investment portfolio | Carrying value of the investment portfolio | Maximum | ' | ' |
Concentration of credit risk | ' | ' |
Percentage of carrying value of investment portfolio represented by largest single issuer | 15.00% | 15.00% |
Fair_Value_Measurement_Details8
Fair Value Measurement (Details 3) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Assets: | ' | ' | ' |
Other current assets | $351.70 | $253.60 | $322.90 |
Other long-term assets | 813.7 | 825 | 844.1 |
Liabilities: | ' | ' | ' |
Other current liabilities | 1,371.10 | 1,600.60 | 1,643.10 |
Other long-term liabilities | 786.1 | 821.9 | 763.6 |
Contingent consideration | ' | 20 | ' |
Recurring Basis | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 78.4 | 179.9 | 286.7 |
Other long-term assets | ' | ' | 76.8 |
Total assets at fair value | 152.3 | 281.3 | 363.5 |
Liabilities: | ' | ' | ' |
Contingent consideration | 20 | 20 | ' |
Total liabilities at fair value | 168.5 | 192.1 | 196.4 |
Recurring Basis | Interest rate swap contracts | ' | ' | ' |
Assets: | ' | ' | ' |
Other current assets | 6.7 | 1 | ' |
Other long-term assets | 55.5 | 89.8 | 65.4 |
Liabilities: | ' | ' | ' |
Other current liabilities | 0.5 | 0.3 | 156.7 |
Other long-term liabilities | 116.4 | 137.4 | ' |
Recurring Basis | Foreign currency derivative contracts | ' | ' | ' |
Assets: | ' | ' | ' |
Other current assets | ' | 10.1 | ' |
Other long-term assets | 11.1 | ' | 10.9 |
Liabilities: | ' | ' | ' |
Other current liabilities | 21.1 | ' | ' |
Other long-term liabilities | 10.5 | 34.4 | 27.8 |
Recurring Basis | Student loan auction rate securities | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 13.6 | 38.8 | 170.5 |
Recurring Basis | Corporate bonds | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 6.1 | 6.6 | 10.2 |
Recurring Basis | State and municipal obligations | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 56.7 | 133.9 | 95.5 |
Recurring Basis | Preferred stock | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 2 | 0.6 | 0.5 |
Recurring Basis | Available-for-sale securities | ' | ' | ' |
Assets: | ' | ' | ' |
Other long-term assets | 0.6 | 0.5 | 0.5 |
Recurring Basis | Quoted prices in active markets for identical assets (Level 1) | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 2 | 0.6 | 0.5 |
Total assets at fair value | 2 | 0.6 | 0.5 |
Recurring Basis | Quoted prices in active markets for identical assets (Level 1) | Preferred stock | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 2 | 0.6 | 0.5 |
Recurring Basis | Significant other observable inputs (Level 2) | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 62.8 | 140.5 | 115.7 |
Other long-term assets | ' | ' | 76.8 |
Total assets at fair value | 136.7 | 241.9 | 192.5 |
Liabilities: | ' | ' | ' |
Total liabilities at fair value | 148.5 | 172.1 | 196.4 |
Recurring Basis | Significant other observable inputs (Level 2) | Interest rate swap contracts | ' | ' | ' |
Assets: | ' | ' | ' |
Other current assets | 6.7 | 1 | ' |
Other long-term assets | 55.5 | 89.8 | 65.4 |
Liabilities: | ' | ' | ' |
Other current liabilities | 0.5 | 0.3 | 156.7 |
Other long-term liabilities | 116.4 | 137.4 | ' |
Recurring Basis | Significant other observable inputs (Level 2) | Foreign currency derivative contracts | ' | ' | ' |
Assets: | ' | ' | ' |
Other current assets | ' | 10.1 | ' |
Other long-term assets | 11.1 | ' | 10.9 |
Liabilities: | ' | ' | ' |
Other current liabilities | 21.1 | ' | ' |
Other long-term liabilities | 10.5 | 34.4 | 27.8 |
Recurring Basis | Significant other observable inputs (Level 2) | Corporate bonds | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 6.1 | 6.6 | 10.2 |
Recurring Basis | Significant other observable inputs (Level 2) | State and municipal obligations | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 56.7 | 133.9 | 95.5 |
Recurring Basis | Significant other observable inputs (Level 2) | Available-for-sale securities | ' | ' | ' |
Assets: | ' | ' | ' |
Other long-term assets | 0.6 | 0.5 | 0.5 |
Recurring Basis | Significant unobservable inputs (Level 3) | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | 13.6 | 38.8 | 170.5 |
Total assets at fair value | 13.6 | 38.8 | 170.5 |
Liabilities: | ' | ' | ' |
Contingent consideration | 20 | 20 | ' |
Total liabilities at fair value | 20 | 20 | ' |
Recurring Basis | Significant unobservable inputs (Level 3) | Student loan auction rate securities | ' | ' | ' |
Assets: | ' | ' | ' |
Settlement assets | $13.60 | $38.80 | $170.50 |
Fair_Value_Measurement_Details9
Fair Value Measurement (Details 4) (Student loan auction rate securities, USD $) | 9 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Student loan auction rate securities | ' | ' | ' |
Reconciliation of significant unobservable inputs (Level 3) used for fair value measurement | ' | ' | ' |
Balance at the beginning of the period | $38.80 | $170.50 | $341.10 |
Total realized gains included in product sales and other | 1.3 | 4.4 | -4.5 |
Total unrealized losses included in other comprehensive income | -0.4 | ' | 1.2 |
Sales | -26.1 | -135.6 | -158.4 |
Balance at the end of the period | $13.60 | $38.80 | $170.50 |
Recovered_Sheet3
Fair Value Measurement (Details 5) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Contingent liabilities | ' | ' |
Contingent consideration payable | ' | $20 |
Clover Network, Inc | ' | ' |
Contingent liabilities | ' | ' |
Contingent consideration payable | ' | 20 |
Contingent consideration | Clover Network, Inc | ' | ' |
Contingent liabilities | ' | ' |
Contingent consideration payable | 20 | 20 |
Period for which merchant location assumed to be used after fiscal year | '4 years | '4 years |
Fair Value Measurement Using Significant Unobservable Inputs (Level 3), Contingent consideration | ' | ' |
Balance at the beginning of the period | 20 | ' |
Balance at the end of the period | $20 | $20 |
Recovered_Sheet4
Fair Value Measurement (Details 6) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2011 |
Financial instruments carried and measured at fair value | ' | ' | ' | ' | ' | ' |
Impairment on assets | ' | $5.10 | $5.10 | $11.50 | ' | ' |
Carrying value of assets | ' | ' | 37,899 | ' | 36,843.70 | 40,276.30 |
Impairment of strategic asset | 8.7 | ' | ' | ' | ' | ' |
Non-recurring basis | ' | ' | ' | ' | ' | ' |
Financial instruments carried and measured at fair value | ' | ' | ' | ' | ' | ' |
Impairment on assets | ' | 18 | 22 | ' | ' | ' |
Carrying value of assets | 38 | 38 | 42 | ' | ' | ' |
Impairment of strategic asset | $8.70 | ' | ' | ' | ' | ' |
Income_Taxes_Details1
Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Reconciliation of the Company's effective tax rates and the statutory rates | ' | ' | ' | ' | ' | ' | ' |
Effective tax rate expenses (benefits) (as a percent) | 18.90% | 28.50% | 19.50% | 38.50% | 29.80% | 44.60% | 27.70% |
Noncontrolling interest tax expense | $0 | $0 | $0 | $0 | ' | ' | ' |
Income_Taxes_Details_21
Income Taxes (Details 2) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 |
In Millions, unless otherwise specified | |||||
Income Taxes | ' | ' | ' | ' | ' |
Uncertain income tax liabilities | $288 | $286.20 | $334.70 | $368.60 | $415 |
Reasonably possible decrease in uncertain income tax liabilities within the next twelve months | $138 | ' | ' | ' | ' |
Acquisition_Details
Acquisition (Details) | 12 Months Ended | 0 Months Ended | 1 Months Ended | |||||||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Nov. 30, 2011 | Apr. 30, 2012 | Apr. 30, 2012 | Apr. 30, 2013 | Apr. 30, 2013 | Apr. 30, 2012 | Apr. 30, 2012 |
USD ($) | USD ($) | USD ($) | Purchase of noncontrolling interest in Omnipay | Purchase of noncontrolling interest in Omnipay | Purchase of noncontrolling interest in Omnipay | Purchase of noncontrolling interest in Omnipay | Purchase of noncontrolling interest in Omnipay | Purchase of noncontrolling interest in Omnipay | ||
USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | |||||
Business combinations, asset acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of noncontrolling interest | ' | 30.00% | ' | 30.00% | 30.00% | 30.00% | ' | ' | 30.00% | 30.00% |
Purchase price | $107 | $19.20 | $215.10 | ' | $49 | € 37.10 | ' | ' | $49 | € 37.10 |
Purchase price, cash paid | $63.10 | $19.20 | $215.10 | ' | $25.10 | € 19 | $23.70 | € 18.10 | $25.10 | € 19 |
Recovered_Sheet5
Supplemental Guarantor Condensed Consolidating Financial Statements (Details) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
Jun. 30, 2011 | Jun. 30, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Feb. 13, 2013 | Sep. 30, 2013 | Apr. 10, 2013 | Sep. 30, 2013 | 30-May-13 | Sep. 30, 2013 | 30-May-13 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Mar. 23, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2010 | |
item | item | Guarantor Subsidiaries | Guarantor Subsidiaries | Guarantor Subsidiaries | Guarantor Subsidiaries | 12.625% senior notes | 12.625% senior notes | 11.25% senior unsecured notes due 2021 | 11.25% senior unsecured notes due 2021 | 10.625% senior unsecured notes due 2021 | 10.625% senior unsecured notes due 2021 | 11.25% senior unsecured subordinated notes due 2016 | 11.25% senior unsecured subordinated notes due 2016 | 11.75% senior subordinated notes | 11.75% senior subordinated notes | 8.875% senior secured notes | 8.875% senior secured notes | 7.375% senior secured notes | 7.375% senior secured notes | 7.375% senior secured notes | 6.750% senior secured notes due 2020 | 6.750% senior secured notes due 2020 | 8.75% / 10.00 PIK toggle senior second lien note | 8.75% / 10.00 PIK toggle senior second lien note | 8.25% senior second lien notes due 2021 | 8.25% senior second lien notes due 2021 | |
Minimum | Minimum | ||||||||||||||||||||||||||
Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate (as a percent) | ' | ' | ' | ' | ' | ' | 12.63% | 12.63% | 11.25% | 11.25% | 10.63% | 10.63% | 11.25% | 11.25% | 11.75% | 11.75% | 8.88% | 8.88% | 7.38% | 7.38% | 7.38% | 6.75% | 6.75% | ' | ' | 8.25% | 8.25% |
Interest rate on toggle note if interest is paid (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.75% | 8.75% | ' | ' |
Interest rate on toggle note if interest is added to principal (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | ' | ' |
Ownership percentage in Guarantors | ' | ' | 100.00% | 100.00% | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of entities for which ownership structure was reorganized for tax purposes | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recovered_Sheet6
Supplemental Guarantor Condensed Consolidating Financial Statements (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | ($199) | ($139.40) | ($286.60) | ($233.70) | ($249.80) | ($73.10) | ($76.50) | ($249.80) | ($360.20) | ($658.20) | ($770.10) | ($909.50) | ($759.60) | ($1,288) |
Income tax (benefit) expense | 28.6 | 28.3 | -69.4 | -74.7 | -108.2 | -15.1 | -18.9 | -88.1 | -148 | 101.7 | -252.3 | -224 | -270.1 | -323.8 |
Net (loss) income | -180.3 | -124 | -174.2 | -115 | -114.1 | -13.6 | -9.8 | -128.2 | -184.5 | -623.9 | -403.3 | -527.3 | -336.1 | -846.9 |
Net (loss) income attributable to First Data Corporation | -219.5 | -179 | -212 | -157.4 | -152.5 | -69.3 | -53.9 | -175.8 | -217.1 | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | -310.4 | ' | -377.6 | ' | ' | ' | ' | ' | ' | -936.1 | -996.5 | -1,244.10 | -1,107.70 | -1,576.30 |
Income tax (benefit) expense | -90.9 | ' | -165.6 | ' | ' | ' | ' | ' | ' | -190.1 | -474.6 | -543.2 | -591.6 | -554.5 |
Net (loss) income | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
Net (loss) income attributable to First Data Corporation | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | 168.2 | ' | 113.3 | ' | ' | ' | ' | ' | ' | 383.7 | 419.3 | 563.5 | 458 | 397 |
Income tax (benefit) expense | 68.6 | ' | 67.5 | ' | ' | ' | ' | ' | ' | 185 | 199.8 | 273.7 | 243.4 | 124.3 |
Net (loss) income | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 |
Net (loss) income attributable to First Data Corporation | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | 130.8 | ' | 145.8 | ' | ' | ' | ' | ' | ' | 368.8 | 304 | 473.4 | 476.2 | 317.3 |
Income tax (benefit) expense | 50.9 | ' | 28.7 | ' | ' | ' | ' | ' | ' | 106.8 | 22.5 | 45.5 | 78.1 | 106.4 |
Net (loss) income | 79.9 | ' | 117.4 | ' | ' | ' | ' | ' | ' | 262.6 | 282.7 | 428.7 | 397.9 | 212.4 |
Net (loss) income attributable to First Data Corporation | 65.7 | ' | 102.5 | ' | ' | ' | ' | ' | ' | 223.3 | 238.8 | 366.8 | 338.3 | 163.3 |
Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -426 |
Net (loss) income | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -427.9 |
Net (loss) income attributable to First Data Corporation | -212.6 | ' | -191 | ' | ' | ' | ' | ' | ' | -557.4 | -571.6 | -814 | -706.5 | -553.7 |
Increase (Decrease) from Amounts Previously Reported | FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | 10.8 | ' | ' | ' | ' | ' | ' | ' | 35.3 | ' | 110.4 | 44 |
Income tax (benefit) expense | ' | ' | 10.8 | ' | ' | ' | ' | ' | ' | ' | 35.3 | ' | 110.4 | 44 |
Increase (Decrease) from Amounts Previously Reported | Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | -27.6 | ' | ' | ' | ' | ' | ' | ' | -92.7 | ' | -260.1 | -108.6 |
Income tax (benefit) expense | ' | ' | -10.4 | ' | ' | ' | ' | ' | ' | ' | -34.7 | ' | -97.9 | -40.4 |
Net (loss) income | ' | ' | -17.2 | ' | ' | ' | ' | ' | ' | ' | -58 | ' | -162.2 | -68.2 |
Net (loss) income attributable to First Data Corporation | ' | ' | -17.2 | ' | ' | ' | ' | ' | ' | ' | -58 | ' | -161.9 | -68.4 |
Increase (Decrease) from Amounts Previously Reported | Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | -1.1 | ' | ' | ' | ' | ' | ' | ' | -1.6 | ' | -36.6 | -9.4 |
Income tax (benefit) expense | ' | ' | -0.4 | ' | ' | ' | ' | ' | ' | ' | -0.6 | ' | -12.5 | -3.6 |
Net (loss) income | ' | ' | -0.7 | ' | ' | ' | ' | ' | ' | ' | -1 | ' | -24.1 | -5.8 |
Net (loss) income attributable to First Data Corporation | ' | ' | -0.7 | ' | ' | ' | ' | ' | ' | ' | -1 | ' | -24.4 | -5.6 |
Increase (Decrease) from Amounts Previously Reported | Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | 17.9 | ' | ' | ' | ' | ' | ' | ' | 59 | ' | 186.3 | 74 |
Net (loss) income | ' | ' | 17.9 | ' | ' | ' | ' | ' | ' | ' | 59 | ' | 186.3 | 74 |
Net (loss) income attributable to First Data Corporation | ' | ' | $17.90 | ' | ' | ' | ' | ' | ' | ' | $59 | ' | $186.30 | $74 |
Recovered_Sheet7
Supplemental Guarantor Condensed Consolidating Financial Statements (Details 3) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services (exclusive of items shown below) | $708.60 | ' | $729 | ' | ' | ' | ' | ' | ' | $2,119.20 | $2,137.80 | $2,863.50 | $2,888.40 | $3,023.30 |
Selling, general and administrative | 463.6 | ' | 467.9 | ' | ' | ' | ' | ' | ' | 1,420.10 | 1,373.30 | 1,825.40 | 1,693.70 | 1,579.70 |
Operating (loss) profit | 303.5 | 337 | 251.9 | 267.9 | 217 | 329.8 | 293.2 | 212 | 106.5 | 764.9 | 736.8 | 1,073.80 | 941.5 | 516.7 |
(Loss) income before income taxes and equity earnings in affiliates | -199 | -139.4 | -286.6 | -233.7 | -249.8 | -73.1 | -76.5 | -249.8 | -360.2 | -658.2 | -770.1 | -909.5 | -759.6 | -1,288 |
Income tax (benefit) expense | 28.6 | 28.3 | -69.4 | -74.7 | -108.2 | -15.1 | -18.9 | -88.1 | -148 | 101.7 | -252.3 | -224 | -270.1 | -323.8 |
Net (loss) income | -180.3 | -124 | -174.2 | -115 | -114.1 | -13.6 | -9.8 | -128.2 | -184.5 | -623.9 | -403.3 | -527.3 | -336.1 | -846.9 |
Net (loss) income attributable to First Data Corporation | -219.5 | -179 | -212 | -157.4 | -152.5 | -69.3 | -53.9 | -175.8 | -217.1 | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | 27 | ' | 44.7 | ' | ' | ' | ' | ' | ' | 93.7 | 105.6 | 89.4 | 107.8 | 264.7 |
Operating (loss) profit | -32 | ' | -46.6 | ' | ' | ' | ' | ' | ' | -116.3 | -111.4 | -97.3 | -113 | -285 |
Interest income (expense) from intercompany notes | 79.2 | ' | 78.1 | ' | ' | ' | ' | ' | ' | 236.3 | 234.4 | 313 | 306.7 | 230.3 |
Equity earnings from consolidated subsidiaries | 157.2 | ' | 128.5 | ' | ' | ' | ' | ' | ' | 371.1 | 375.9 | 522.6 | 452.2 | 249.8 |
(Loss) income before income taxes and equity earnings in affiliates | -310.4 | ' | -377.6 | ' | ' | ' | ' | ' | ' | -936.1 | -996.5 | -1,244.10 | -1,107.70 | -1,576.30 |
Income tax (benefit) expense | -90.9 | ' | -165.6 | ' | ' | ' | ' | ' | ' | -190.1 | -474.6 | -543.2 | -591.6 | -554.5 |
Net (loss) income | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
Net (loss) income attributable to First Data Corporation | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services (exclusive of items shown below) | 461.6 | ' | 494.4 | ' | ' | ' | ' | ' | ' | 1,401.40 | 1,361.10 | 1,829.60 | 1,896.40 | 1,949.60 |
Selling, general and administrative | 302.2 | ' | 293.5 | ' | ' | ' | ' | ' | ' | 923.4 | 877.2 | 1,217.30 | 1,095.40 | 877.2 |
Operating (loss) profit | 216 | ' | 164.7 | ' | ' | ' | ' | ' | ' | 516.2 | 552.2 | 718.9 | 574.6 | 470 |
Interest income (expense) from intercompany notes | -77.5 | ' | -80 | ' | ' | ' | ' | ' | ' | -233.4 | -240 | -320 | -311.9 | -249.7 |
Equity earnings from consolidated subsidiaries | 30.4 | ' | 39.6 | ' | ' | ' | ' | ' | ' | 103.5 | 121 | 179.7 | 133.9 | 150.2 |
(Loss) income before income taxes and equity earnings in affiliates | 168.2 | ' | 113.3 | ' | ' | ' | ' | ' | ' | 383.7 | 419.3 | 563.5 | 458 | 397 |
Income tax (benefit) expense | 68.6 | ' | 67.5 | ' | ' | ' | ' | ' | ' | 185 | 199.8 | 273.7 | 243.4 | 124.3 |
Net (loss) income | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 |
Net (loss) income attributable to First Data Corporation | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services (exclusive of items shown below) | 302.3 | ' | 282.5 | ' | ' | ' | ' | ' | ' | 884.2 | 919.9 | 1,234.10 | 1,155 | 1,222.20 |
Selling, general and administrative | 134.4 | ' | 129.7 | ' | ' | ' | ' | ' | ' | 403 | 390.5 | 518.7 | 490.5 | 437.8 |
Operating (loss) profit | 119.5 | ' | 133.8 | ' | ' | ' | ' | ' | ' | 365 | 296 | 452.2 | 479.9 | 331.7 |
Interest income (expense) from intercompany notes | -1.7 | ' | 1.9 | ' | ' | ' | ' | ' | ' | -2.9 | 5.6 | 7 | 5.2 | 19.4 |
(Loss) income before income taxes and equity earnings in affiliates | 130.8 | ' | 145.8 | ' | ' | ' | ' | ' | ' | 368.8 | 304 | 473.4 | 476.2 | 317.3 |
Income tax (benefit) expense | 50.9 | ' | 28.7 | ' | ' | ' | ' | ' | ' | 106.8 | 22.5 | 45.5 | 78.1 | 106.4 |
Net (loss) income | 79.9 | ' | 117.4 | ' | ' | ' | ' | ' | ' | 262.6 | 282.7 | 428.7 | 397.9 | 212.4 |
Net (loss) income attributable to First Data Corporation | 65.7 | ' | 102.5 | ' | ' | ' | ' | ' | ' | 223.3 | 238.8 | 366.8 | 338.3 | 163.3 |
Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services (exclusive of items shown below) | -55.3 | ' | -47.9 | ' | ' | ' | ' | ' | ' | -166.4 | -143.2 | -200.2 | -163 | -148.5 |
Equity earnings from consolidated subsidiaries | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -400 |
(Loss) income before income taxes and equity earnings in affiliates | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -426 |
Net (loss) income | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -427.9 |
Net (loss) income attributable to First Data Corporation | -212.6 | ' | -191 | ' | ' | ' | ' | ' | ' | -557.4 | -571.6 | -814 | -706.5 | -553.7 |
As previously reported | FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 110 | ' | 259.7 | ' |
Operating (loss) profit | ' | ' | -46.6 | ' | ' | ' | ' | ' | ' | ' | -115.8 | ' | -264.9 | -285 |
Interest income (expense) from intercompany notes | ' | ' | 49.4 | ' | ' | ' | ' | ' | ' | ' | 144.3 | ' | 162.5 | 112.3 |
Equity earnings from consolidated subsidiaries | ' | ' | 146.4 | ' | ' | ' | ' | ' | ' | ' | 435.1 | ' | 637.9 | 323.8 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | -388.4 | ' | ' | ' | ' | ' | ' | ' | -1,031.80 | ' | -1,218.10 | -1,620.30 |
Income tax (benefit) expense | ' | ' | -176.4 | ' | ' | ' | ' | ' | ' | ' | -509.9 | ' | -702 | -598.5 |
Net (loss) income | ' | ' | -212 | ' | ' | ' | ' | ' | ' | ' | -521.9 | ' | -516.1 | -1,021.80 |
Net (loss) income attributable to First Data Corporation | ' | ' | -212 | ' | ' | ' | ' | ' | ' | ' | -521.9 | ' | -516.1 | -1,021.80 |
As previously reported | Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services (exclusive of items shown below) | ' | ' | 496.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,909.80 | 1,944.30 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 875.7 | ' | 957.8 | ' |
Operating (loss) profit | ' | ' | 163 | ' | ' | ' | ' | ' | ' | ' | 553.7 | ' | 698.8 | 475.3 |
Interest income (expense) from intercompany notes | ' | ' | -50.7 | ' | ' | ' | ' | ' | ' | ' | -148.6 | ' | -176.6 | -146.4 |
Equity earnings from consolidated subsidiaries | ' | ' | 39.6 | ' | ' | ' | ' | ' | ' | ' | 120.8 | ' | 134.5 | 150.2 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | 140.9 | ' | ' | ' | ' | ' | ' | ' | 512 | ' | 718.1 | 505.6 |
Income tax (benefit) expense | ' | ' | 77.9 | ' | ' | ' | ' | ' | ' | ' | 234.5 | ' | 341.3 | 164.7 |
Net (loss) income | ' | ' | 105.7 | ' | ' | ' | ' | ' | ' | ' | 390.8 | ' | 530.4 | 458.6 |
Net (loss) income attributable to First Data Corporation | ' | ' | 105.7 | ' | ' | ' | ' | ' | ' | ' | 390.8 | ' | 530.1 | 458.8 |
As previously reported | Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services (exclusive of items shown below) | ' | ' | 280.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,141.60 | 1,227.50 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 387.6 | ' | 476.2 | ' |
Operating (loss) profit | ' | ' | 135.5 | ' | ' | ' | ' | ' | ' | ' | 298.9 | ' | 507.6 | 326.4 |
Interest income (expense) from intercompany notes | ' | ' | 1.3 | ' | ' | ' | ' | ' | ' | ' | 4.3 | ' | 14.1 | 34.1 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | 146.9 | ' | ' | ' | ' | ' | ' | ' | 305.6 | ' | 512.8 | 326.7 |
Income tax (benefit) expense | ' | ' | 29.1 | ' | ' | ' | ' | ' | ' | ' | 23.1 | ' | 90.6 | 110 |
Net (loss) income | ' | ' | 118.1 | ' | ' | ' | ' | ' | ' | ' | 283.7 | ' | 422 | 218.2 |
Net (loss) income attributable to First Data Corporation | ' | ' | 103.2 | ' | ' | ' | ' | ' | ' | ' | 239.8 | ' | 362.7 | 168.9 |
As previously reported | Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services (exclusive of items shown below) | ' | ' | -47.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -163 | -148.5 |
Equity earnings from consolidated subsidiaries | ' | ' | -186 | ' | ' | ' | ' | ' | ' | ' | -555.9 | ' | -772.4 | -474 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | -186 | ' | ' | ' | ' | ' | ' | ' | -555.9 | ' | -772.4 | -500 |
Net (loss) income | ' | ' | -186 | ' | ' | ' | ' | ' | ' | ' | -555.9 | ' | -772.4 | -501.9 |
Net (loss) income attributable to First Data Corporation | ' | ' | -208.9 | ' | ' | ' | ' | ' | ' | ' | -630.6 | ' | -892.8 | -627.7 |
As corrected | FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 105.6 | ' | 107.8 | ' |
Operating (loss) profit | ' | ' | -46.6 | ' | ' | ' | ' | ' | ' | ' | -111.4 | ' | -113 | -285 |
Interest income (expense) from intercompany notes | ' | ' | 78.1 | ' | ' | ' | ' | ' | ' | ' | 234.4 | ' | 306.7 | 230.3 |
Equity earnings from consolidated subsidiaries | ' | ' | 128.5 | ' | ' | ' | ' | ' | ' | ' | 375.9 | ' | 452.2 | 249.8 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | -377.6 | ' | ' | ' | ' | ' | ' | ' | -996.5 | ' | -1,107.70 | -1,576.30 |
Income tax (benefit) expense | ' | ' | -165.6 | ' | ' | ' | ' | ' | ' | ' | -474.6 | ' | -591.6 | -554.5 |
Net (loss) income | ' | ' | -212 | ' | ' | ' | ' | ' | ' | ' | -521.9 | ' | -516.1 | -1,021.80 |
Net (loss) income attributable to First Data Corporation | ' | ' | -212 | ' | ' | ' | ' | ' | ' | ' | -521.9 | ' | -516.1 | -1,021.80 |
As corrected | Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services (exclusive of items shown below) | ' | ' | 494.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,896.40 | 1,949.60 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 877.2 | ' | 1,095.40 | ' |
Operating (loss) profit | ' | ' | 164.7 | ' | ' | ' | ' | ' | ' | ' | 552.2 | ' | 574.6 | 470 |
Interest income (expense) from intercompany notes | ' | ' | -80 | ' | ' | ' | ' | ' | ' | ' | -240 | ' | -311.9 | -249.7 |
Equity earnings from consolidated subsidiaries | ' | ' | 39.6 | ' | ' | ' | ' | ' | ' | ' | 121 | ' | 133.9 | 150.2 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | 113.3 | ' | ' | ' | ' | ' | ' | ' | 419.3 | ' | 458 | 397 |
Income tax (benefit) expense | ' | ' | 67.5 | ' | ' | ' | ' | ' | ' | ' | 199.8 | ' | 243.4 | 124.3 |
Net (loss) income | ' | ' | 88.5 | ' | ' | ' | ' | ' | ' | ' | 332.8 | ' | 368.2 | 390.4 |
Net (loss) income attributable to First Data Corporation | ' | ' | 88.5 | ' | ' | ' | ' | ' | ' | ' | 332.8 | ' | 368.2 | 390.4 |
As corrected | Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services (exclusive of items shown below) | ' | ' | 282.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,155 | 1,222.20 |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 390.5 | ' | 490.5 | ' |
Operating (loss) profit | ' | ' | 133.8 | ' | ' | ' | ' | ' | ' | ' | 296 | ' | 479.9 | 331.7 |
Interest income (expense) from intercompany notes | ' | ' | 1.9 | ' | ' | ' | ' | ' | ' | ' | 5.6 | ' | 5.2 | 19.4 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | 145.8 | ' | ' | ' | ' | ' | ' | ' | 304 | ' | 476.2 | 317.3 |
Income tax (benefit) expense | ' | ' | 28.7 | ' | ' | ' | ' | ' | ' | ' | 22.5 | ' | 78.1 | 106.4 |
Net (loss) income | ' | ' | 117.4 | ' | ' | ' | ' | ' | ' | ' | 282.7 | ' | 397.9 | 212.4 |
Net (loss) income attributable to First Data Corporation | ' | ' | 102.5 | ' | ' | ' | ' | ' | ' | ' | 238.8 | ' | 338.3 | 163.3 |
As corrected | Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services (exclusive of items shown below) | ' | ' | -47.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -163 | -148.5 |
Equity earnings from consolidated subsidiaries | ' | ' | -168.1 | ' | ' | ' | ' | ' | ' | ' | -496.9 | ' | -586.1 | -400 |
(Loss) income before income taxes and equity earnings in affiliates | ' | ' | -168.1 | ' | ' | ' | ' | ' | ' | ' | -496.9 | ' | -586.1 | -426 |
Net (loss) income | ' | ' | -168.1 | ' | ' | ' | ' | ' | ' | ' | -496.9 | ' | -586.1 | -427.9 |
Net (loss) income attributable to First Data Corporation | ' | ' | ($191) | ' | ' | ' | ' | ' | ' | ' | ($571.60) | ' | ($706.50) | ($553.70) |
Recovered_Sheet8
Supplemental Guarantor Condensed Consolidating Financial Statements (Details 4) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ($180.30) | ($124) | ($174.20) | ($115) | ($114.10) | ($13.60) | ($9.80) | ($128.20) | ($184.50) | ($623.90) | ($403.30) | ($527.30) | ($336.10) | ($846.90) |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5.1 | -37.8 | -40.2 | 27.7 | 265.6 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | -14 | -136.9 | -118.5 | 157.5 | -287.4 |
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 332 | 538.2 | 767.4 | 1,115.60 | 754.7 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -340.2 | -280.8 | -248.5 | -564.5 | -653.3 |
FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -303.8 | -346.1 | -483.9 | -360.3 | -62.4 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | -356.7 | -483.8 | -461.8 | -327 | -564.4 |
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,353.80 | -1,267.30 | -1,536.60 | -1,254.70 | -1,506.30 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | 991.2 | 1,137.10 | 1,405 | 1,220.50 | 1,564.50 |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 986.3 | 1,148.60 | 1,410.50 | 1,147.20 | 1,342.10 |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -173.9 | -194.1 | -265.8 | -209.5 | -207.4 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | 215.1 | 347.2 | 515 | 383.8 | 66.6 |
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 963.7 | 1,145.20 | 1,561.70 | 1,324.60 | 1,306.50 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | -914 | -1,098.20 | -1,502.20 | -1,116.40 | -1,346.10 |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -963.9 | -1,129.30 | -1,544.60 | -1,166.60 | -1,403.10 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | 79.9 | ' | 117.4 | ' | ' | ' | ' | ' | ' | 262.6 | 282.7 | 428.7 | 397.9 | 212.4 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | 5.5 | 7.2 | 11.4 | 8.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | 127.6 | -0.3 | -171.7 | 100.7 | 213.3 |
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 722.1 | 660.3 | 742.3 | 1,045.70 | 957.5 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | -77.2 | -38.9 | 97.2 | -104.1 | -218.4 |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -640.6 | -548.7 | -558 | -949.3 | -1,143.50 |
Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -427.9 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 474.6 | 496.9 | 702.3 | 586.1 | 401.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.9 |
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 278 | 248.6 | 443.6 | 404.2 | 551.2 |
As previously reported | FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | -212 | ' | ' | ' | ' | ' | ' | ' | -521.9 | ' | -516.1 | -1,021.80 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -405.3 | ' | -546 | -11.6 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -519.1 | ' | -437.4 | -608.4 |
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,361.80 | ' | -1,550.80 | -1,624.30 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,231.60 | ' | 1,516.60 | 1,682.50 |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,243.10 | ' | 1,443.30 | 1,460.10 |
As previously reported | Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | 105.7 | ' | ' | ' | ' | ' | ' | ' | 390.8 | ' | 530.4 | 458.6 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -193.9 | ' | -210.1 | -207.4 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 381.9 | ' | 481.7 | 107 |
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,238.10 | ' | 1,584.10 | 1,415.10 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,191.10 | ' | -1,375.90 | -1,454.70 |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,222.20 | ' | -1,426.10 | -1,511.70 |
As previously reported | Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | 118.1 | ' | ' | ' | ' | ' | ' | ' | 283.7 | ' | 422 | 218.2 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.5 | ' | 11.4 | 8.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | ' | 113.2 | 216.9 |
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 661.9 | ' | 1,082.30 | 966.9 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -40.5 | ' | -140.7 | -227.8 |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -550.3 | ' | -985.9 | -1,152.90 |
As previously reported | Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | -186 | ' | ' | ' | ' | ' | ' | ' | -555.9 | ' | -772.4 | -501.9 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 555.9 | ' | 772.4 | 475.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.9 |
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 248.6 | ' | 404.2 | 551.2 |
As corrected | FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | -212 | ' | ' | ' | ' | ' | ' | ' | -521.9 | ' | -516.1 | -1,021.80 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -346.1 | ' | -360.3 | -62.4 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -483.8 | ' | -327 | -564.4 |
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,267.30 | ' | -1,254.70 | -1,506.30 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,137.10 | ' | 1,220.50 | 1,564.50 |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,148.60 | ' | 1,147.20 | 1,342.10 |
As corrected | Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | 88.5 | ' | ' | ' | ' | ' | ' | ' | 332.8 | ' | 368.2 | 390.4 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -194.1 | ' | -209.5 | -207.4 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 347.2 | ' | 383.8 | 66.6 |
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,145.20 | ' | 1,324.60 | 1,306.50 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,098.20 | ' | -1,116.40 | -1,346.10 |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,129.30 | ' | -1,166.60 | -1,403.10 |
As corrected | Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | 117.4 | ' | ' | ' | ' | ' | ' | ' | 282.7 | ' | 397.9 | 212.4 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.5 | ' | 11.4 | 8.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.3 | ' | 100.7 | 213.3 |
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 660.3 | ' | 1,045.70 | 957.5 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -38.9 | ' | -104.1 | -218.4 |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -548.7 | ' | -949.3 | -1,143.50 |
As corrected | Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | -168.1 | ' | ' | ' | ' | ' | ' | ' | -496.9 | ' | -586.1 | -427.9 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 496.9 | ' | 586.1 | 401.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.9 |
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $248.60 | ' | $404.20 | $551.20 |
Recovered_Sheet9
Supplemental Guarantor Condensed Consolidating Financial Statements (Details 5) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||||
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Transaction and processing service fees | $1,620.20 | ' | $1,612.10 | ' | ' | ' | ' | ' | ' | $4,792.50 | $4,787.60 | $6,452.10 | $6,330 | $6,181.50 | |||||||
Product sales and other | 215.5 | [1] | ' | 217.5 | [1] | ' | ' | ' | ' | ' | ' | 622.8 | [1] | 637.9 | [1] | 866.7 | [2] | 852.1 | [2] | 809.3 | [2] |
Reimbursable debit network fees, postage and other | 876.4 | ' | 844.4 | ' | ' | ' | ' | ' | ' | 2,596.50 | 2,498 | 3,361.50 | 3,531.50 | 3,389.60 | |||||||
Total revenues | 2,712.10 | 2,756.80 | 2,674 | 2,685.50 | 2,564 | 2,687.80 | 2,731.80 | 2,749.80 | 2,544.20 | 8,011.80 | 7,923.50 | 10,680.30 | 10,713.60 | 10,380.40 | |||||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Cost of services (exclusive of items shown below) | 708.6 | ' | 729 | ' | ' | ' | ' | ' | ' | 2,119.20 | 2,137.80 | 2,863.50 | 2,888.40 | 3,023.30 | |||||||
Cost of products sold | 80.9 | ' | 80.1 | ' | ' | ' | ' | ' | ' | 246.9 | 251.3 | 336.3 | 369.6 | 375.2 | |||||||
Selling, general and administrative | 463.6 | ' | 467.9 | ' | ' | ' | ' | ' | ' | 1,420.10 | 1,373.30 | 1,825.40 | 1,693.70 | 1,579.70 | |||||||
Reimbursable debit network fees, postage and other | 876.4 | ' | 844.4 | ' | ' | ' | ' | ' | ' | 2,596.50 | 2,498 | 3,361.50 | 3,531.50 | 3,389.60 | |||||||
Depreciation and amortization | 271.3 | ' | 293.5 | ' | ' | ' | ' | ' | ' | 818.2 | 897.1 | 1,191.60 | 1,245 | 1,414.40 | |||||||
Other operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Restructuring, net | 7.8 | ' | 7.2 | ' | ' | ' | ' | ' | ' | 46 | 24.1 | 23.1 | 46.4 | 72 | |||||||
Impairments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.1 | 5.1 | ' | 11.5 | |||||||
Total expenses | 2,408.60 | 2,419.80 | 2,422.10 | 2,417.60 | 2,347 | 2,358 | 2,438.60 | 2,537.80 | 2,437.70 | 7,246.90 | 7,186.70 | 9,606.50 | 9,772.10 | 9,863.70 | |||||||
Operating profit | 303.5 | 337 | 251.9 | 267.9 | 217 | 329.8 | 293.2 | 212 | 106.5 | 764.9 | 736.8 | 1,073.80 | 941.5 | 516.7 | |||||||
Interest income | 2.7 | 2.5 | 2.1 | 1.7 | 2.5 | 2.5 | 1.6 | 1.9 | 1.9 | 8 | 6.3 | 8.8 | 7.9 | 7.8 | |||||||
Interest expense | -469 | -467.4 | -488.6 | -480.7 | -461.1 | -461.8 | -466.7 | -462.3 | -442.3 | -1,410.20 | -1,430.40 | -1,897.80 | -1,833.10 | -1,796.60 | |||||||
Other income (expense) | -36.2 | -11.5 | -52 | -22.6 | -8.2 | 56.4 | 95.4 | -1.4 | -26.3 | -20.9 | -82.8 | -94.3 | 124.1 | -15.9 | |||||||
Non-operating income (expense) | -502.5 | ' | -538.5 | ' | ' | ' | ' | ' | ' | -1,423.10 | -1,506.90 | -1,983.30 | -1,701.10 | -1,804.70 | |||||||
Loss before income taxes and equity earnings in affiliates | -199 | -139.4 | -286.6 | -233.7 | -249.8 | -73.1 | -76.5 | -249.8 | -360.2 | -658.2 | -770.1 | -909.5 | -759.6 | -1,288 | |||||||
Income tax (benefit) expense | 28.6 | 28.3 | -69.4 | -74.7 | -108.2 | -15.1 | -18.9 | -88.1 | -148 | 101.7 | -252.3 | -224 | -270.1 | -323.8 | |||||||
Equity earnings in affiliates | 47.3 | 43.7 | 43 | 44 | 27.5 | 44.4 | 47.8 | 33.5 | 27.7 | 136 | 114.5 | 158.2 | 153.4 | 117.3 | |||||||
Net loss | -180.3 | -124 | -174.2 | -115 | -114.1 | -13.6 | -9.8 | -128.2 | -184.5 | -623.9 | -403.3 | -527.3 | -336.1 | -846.9 | |||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | 39.2 | 55 | 37.8 | 42.4 | 38.4 | 55.7 | 44.1 | 47.6 | 32.6 | 122.1 | 118.6 | 173.6 | 180 | 174.9 | |||||||
Net loss attributable to First Data Corporation | -219.5 | -179 | -212 | -157.4 | -152.5 | -69.3 | -53.9 | -175.8 | -217.1 | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 | |||||||
Comprehensive (loss) income | -99.5 | ' | -55.1 | ' | ' | ' | ' | ' | ' | -687.7 | -327 | -477.8 | -304.5 | -805.2 | |||||||
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | 41.6 | ' | 41.3 | ' | ' | ' | ' | ' | ' | 122.5 | 119.1 | 176.9 | 173.1 | 171.8 | |||||||
Comprehensive loss attributable to First Data Corporation | -141.1 | ' | -96.4 | ' | ' | ' | ' | ' | ' | -810.2 | -446.1 | -654.7 | -477.6 | -977 | |||||||
FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Selling, general and administrative | 27 | ' | 44.7 | ' | ' | ' | ' | ' | ' | 93.7 | 105.6 | 89.4 | 107.8 | 264.7 | |||||||
Depreciation and amortization | 1.8 | ' | 1.9 | ' | ' | ' | ' | ' | ' | 5.5 | 6 | 8.1 | 8.3 | 7.6 | |||||||
Other operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Restructuring, net | 3.2 | ' | ' | ' | ' | ' | ' | ' | ' | 17.1 | -0.2 | -0.2 | -0.6 | 12.7 | |||||||
Total expenses | 32 | ' | 46.6 | ' | ' | ' | ' | ' | ' | 116.3 | 111.4 | 97.3 | 113 | 285 | |||||||
Operating profit | -32 | ' | -46.6 | ' | ' | ' | ' | ' | ' | -116.3 | -111.4 | -97.3 | -113 | -285 | |||||||
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0.1 | 0.1 | 0.3 | 1 | |||||||
Interest expense | -464.5 | ' | -483.8 | ' | ' | ' | ' | ' | ' | -1,397.20 | -1,416.80 | -1,880.40 | -1,812.90 | -1,775.20 | |||||||
Interest income (expense) from intercompany notes | 79.2 | ' | 78.1 | ' | ' | ' | ' | ' | ' | 236.3 | 234.4 | 313 | 306.7 | 230.3 | |||||||
Other income (expense) | -50.3 | ' | -53.8 | ' | ' | ' | ' | ' | ' | -30.1 | -78.7 | -102.1 | 59 | 2.8 | |||||||
Equity earnings from consolidated subsidiaries | 157.2 | ' | 128.5 | ' | ' | ' | ' | ' | ' | 371.1 | 375.9 | 522.6 | 452.2 | 249.8 | |||||||
Non-operating income (expense) | -278.4 | ' | -331 | ' | ' | ' | ' | ' | ' | -819.8 | -885.1 | -1,146.80 | -994.7 | -1,291.30 | |||||||
Loss before income taxes and equity earnings in affiliates | -310.4 | ' | -377.6 | ' | ' | ' | ' | ' | ' | -936.1 | -996.5 | -1,244.10 | -1,107.70 | -1,576.30 | |||||||
Income tax (benefit) expense | -90.9 | ' | -165.6 | ' | ' | ' | ' | ' | ' | -190.1 | -474.6 | -543.2 | -591.6 | -554.5 | |||||||
Net loss | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 | |||||||
Net loss attributable to First Data Corporation | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 | |||||||
Comprehensive (loss) income | -141.1 | ' | -96.4 | ' | ' | ' | ' | ' | ' | -810.2 | -446.1 | -654.7 | -477.6 | -976.8 | |||||||
Comprehensive loss attributable to First Data Corporation | -141.1 | ' | -96.4 | ' | ' | ' | ' | ' | ' | -810.2 | -446.1 | -654.7 | -477.6 | -976.8 | |||||||
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Transaction and processing service fees | 1,065.40 | ' | 1,051.20 | ' | ' | ' | ' | ' | ' | 3,132.30 | 3,112.50 | 4,180.50 | 4,055.90 | 4,001.70 | |||||||
Product sales and other | 143.3 | ' | 144.6 | ' | ' | ' | ' | ' | ' | 409 | 423.9 | 569.8 | 551.4 | 542.6 | |||||||
Reimbursable debit network fees, postage and other | 631.5 | ' | 610.7 | ' | ' | ' | ' | ' | ' | 1,869.50 | 1,816.20 | 2,430.30 | 2,445 | 2,299.80 | |||||||
Total revenues | 1,840.20 | ' | 1,806.50 | ' | ' | ' | ' | ' | ' | 5,410.80 | 5,352.60 | 7,180.60 | 7,052.30 | 6,844.10 | |||||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Cost of services (exclusive of items shown below) | 461.6 | ' | 494.4 | ' | ' | ' | ' | ' | ' | 1,401.40 | 1,361.10 | 1,829.60 | 1,896.40 | 1,949.60 | |||||||
Cost of products sold | 61.2 | ' | 62.2 | ' | ' | ' | ' | ' | ' | 185 | 192.1 | 252.9 | 274.7 | 257.8 | |||||||
Selling, general and administrative | 302.2 | ' | 293.5 | ' | ' | ' | ' | ' | ' | 923.4 | 877.2 | 1,217.30 | 1,095.40 | 877.2 | |||||||
Reimbursable debit network fees, postage and other | 631.5 | ' | 610.7 | ' | ' | ' | ' | ' | ' | 1,869.50 | 1,816.20 | 2,430.30 | 2,445 | 2,299.80 | |||||||
Depreciation and amortization | 162.9 | ' | 175.3 | ' | ' | ' | ' | ' | ' | 490.5 | 541.4 | 718.9 | 743.1 | 937.9 | |||||||
Other operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Restructuring, net | 4.8 | ' | 5.7 | ' | ' | ' | ' | ' | ' | 24.8 | 7.3 | 7.6 | 23.1 | 46 | |||||||
Impairments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.1 | 5.1 | ' | 7.8 | |||||||
Total expenses | 1,624.20 | ' | 1,641.80 | ' | ' | ' | ' | ' | ' | 4,894.60 | 4,800.40 | 6,461.70 | 6,477.70 | 6,374.10 | |||||||
Operating profit | 216 | ' | 164.7 | ' | ' | ' | ' | ' | ' | 516.2 | 552.2 | 718.9 | 574.6 | 470 | |||||||
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0.3 | 0.3 | 0.6 | 1.1 | |||||||
Interest expense | -3 | ' | -2.3 | ' | ' | ' | ' | ' | ' | -7.6 | -5.7 | -7.3 | -7.6 | -6.4 | |||||||
Interest income (expense) from intercompany notes | -77.5 | ' | -80 | ' | ' | ' | ' | ' | ' | -233.4 | -240 | -320 | -311.9 | -249.7 | |||||||
Other income (expense) | 2.3 | ' | -8.7 | ' | ' | ' | ' | ' | ' | 4.9 | -8.5 | -8.1 | 68.4 | 31.8 | |||||||
Equity earnings from consolidated subsidiaries | 30.4 | ' | 39.6 | ' | ' | ' | ' | ' | ' | 103.5 | 121 | 179.7 | 133.9 | 150.2 | |||||||
Non-operating income (expense) | -47.8 | ' | -51.4 | ' | ' | ' | ' | ' | ' | -132.5 | -132.9 | -155.4 | -116.6 | -73 | |||||||
Loss before income taxes and equity earnings in affiliates | 168.2 | ' | 113.3 | ' | ' | ' | ' | ' | ' | 383.7 | 419.3 | 563.5 | 458 | 397 | |||||||
Income tax (benefit) expense | 68.6 | ' | 67.5 | ' | ' | ' | ' | ' | ' | 185 | 199.8 | 273.7 | 243.4 | 124.3 | |||||||
Equity earnings in affiliates | 47.3 | ' | 42.7 | ' | ' | ' | ' | ' | ' | 135.4 | 113.3 | 157.4 | 153.6 | 117.7 | |||||||
Net loss | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 | |||||||
Net loss attributable to First Data Corporation | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 | |||||||
Comprehensive (loss) income | 136.3 | ' | 109.9 | ' | ' | ' | ' | ' | ' | 285.2 | 348 | 448.6 | 418.2 | 399.5 | |||||||
Comprehensive loss attributable to First Data Corporation | 136.3 | ' | 109.9 | ' | ' | ' | ' | ' | ' | 285.2 | 348 | 448.6 | 418.2 | 399.5 | |||||||
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Transaction and processing service fees | 610.1 | ' | 608.8 | ' | ' | ' | ' | ' | ' | 1,826.60 | 1,818.30 | 2,471.80 | 2,437.10 | 2,328.30 | |||||||
Product sales and other | 87.7 | ' | 88.2 | ' | ' | ' | ' | ' | ' | 259 | 258.5 | 355.8 | 358.2 | 319.3 | |||||||
Reimbursable debit network fees, postage and other | 244.9 | ' | 234.9 | ' | ' | ' | ' | ' | ' | 727 | 704.4 | 953.8 | 1,159.10 | 1,160.30 | |||||||
Total revenues | 942.7 | ' | 931.9 | ' | ' | ' | ' | ' | ' | 2,812.60 | 2,781.20 | 3,781.40 | 3,954.40 | 3,807.90 | |||||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Cost of services (exclusive of items shown below) | 302.3 | ' | 282.5 | ' | ' | ' | ' | ' | ' | 884.2 | 919.9 | 1,234.10 | 1,155 | 1,222.20 | |||||||
Cost of products sold | 35.2 | ' | 33.2 | ' | ' | ' | ' | ' | ' | 107.1 | 103.7 | 142.3 | 152.4 | 170 | |||||||
Selling, general and administrative | 134.4 | ' | 129.7 | ' | ' | ' | ' | ' | ' | 403 | 390.5 | 518.7 | 490.5 | 437.8 | |||||||
Reimbursable debit network fees, postage and other | 244.9 | ' | 234.9 | ' | ' | ' | ' | ' | ' | 727 | 704.4 | 953.8 | 1,159.10 | 1,160.30 | |||||||
Depreciation and amortization | 106.6 | ' | 116.3 | ' | ' | ' | ' | ' | ' | 322.2 | 349.7 | 464.6 | 493.6 | 468.9 | |||||||
Other operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Restructuring, net | -0.2 | ' | 1.5 | ' | ' | ' | ' | ' | ' | 4.1 | 17 | 15.7 | 23.9 | 13.3 | |||||||
Impairments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.7 | |||||||
Total expenses | 823.2 | ' | 798.1 | ' | ' | ' | ' | ' | ' | 2,447.60 | 2,485.20 | 3,329.20 | 3,474.50 | 3,476.20 | |||||||
Operating profit | 119.5 | ' | 133.8 | ' | ' | ' | ' | ' | ' | 365 | 296 | 452.2 | 479.9 | 331.7 | |||||||
Interest income | 2.7 | ' | 2.1 | ' | ' | ' | ' | ' | ' | 7.8 | 5.9 | 8.4 | 7 | 5.7 | |||||||
Interest expense | -1.5 | ' | -2.5 | ' | ' | ' | ' | ' | ' | -5.4 | -7.9 | -10.1 | -12.6 | -15 | |||||||
Interest income (expense) from intercompany notes | -1.7 | ' | 1.9 | ' | ' | ' | ' | ' | ' | -2.9 | 5.6 | 7 | 5.2 | 19.4 | |||||||
Other income (expense) | 11.8 | ' | 10.5 | ' | ' | ' | ' | ' | ' | 4.3 | 4.4 | 15.9 | -3.3 | -24.5 | |||||||
Non-operating income (expense) | 11.3 | ' | 12 | ' | ' | ' | ' | ' | ' | 3.8 | 8 | 21.2 | -3.7 | -14.4 | |||||||
Loss before income taxes and equity earnings in affiliates | 130.8 | ' | 145.8 | ' | ' | ' | ' | ' | ' | 368.8 | 304 | 473.4 | 476.2 | 317.3 | |||||||
Income tax (benefit) expense | 50.9 | ' | 28.7 | ' | ' | ' | ' | ' | ' | 106.8 | 22.5 | 45.5 | 78.1 | 106.4 | |||||||
Equity earnings in affiliates | ' | ' | 0.3 | ' | ' | ' | ' | ' | ' | 0.6 | 1.2 | 0.8 | -0.2 | 1.5 | |||||||
Net loss | 79.9 | ' | 117.4 | ' | ' | ' | ' | ' | ' | 262.6 | 282.7 | 428.7 | 397.9 | 212.4 | |||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | 14.2 | ' | 14.9 | ' | ' | ' | ' | ' | ' | 39.3 | 43.9 | 61.9 | 59.6 | 49.1 | |||||||
Net loss attributable to First Data Corporation | 65.7 | ' | 102.5 | ' | ' | ' | ' | ' | ' | 223.3 | 238.8 | 366.8 | 338.3 | 163.3 | |||||||
Comprehensive (loss) income | 180.6 | ' | 209 | ' | ' | ' | ' | ' | ' | 200.2 | 279.6 | 421.5 | 319 | 207.2 | |||||||
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | 16.6 | ' | 18.4 | ' | ' | ' | ' | ' | ' | 39.7 | 44.4 | 65.2 | 52.7 | 46 | |||||||
Comprehensive loss attributable to First Data Corporation | 164 | ' | 190.6 | ' | ' | ' | ' | ' | ' | 160.5 | 235.2 | 356.3 | 266.3 | 161.2 | |||||||
Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Revenues: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Transaction and processing service fees | -55.3 | ' | -47.9 | ' | ' | ' | ' | ' | ' | -166.4 | -143.2 | -200.2 | -163 | -148.5 | |||||||
Product sales and other | -15.5 | ' | -15.3 | ' | ' | ' | ' | ' | ' | -45.2 | -44.5 | -58.9 | -57.5 | -52.6 | |||||||
Reimbursable debit network fees, postage and other | ' | ' | -1.2 | ' | ' | ' | ' | ' | ' | ' | -22.6 | -22.6 | -72.6 | -70.5 | |||||||
Total revenues | -70.8 | ' | -64.4 | ' | ' | ' | ' | ' | ' | -211.6 | -210.3 | -281.7 | -293.1 | -271.6 | |||||||
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Cost of services (exclusive of items shown below) | -55.3 | ' | -47.9 | ' | ' | ' | ' | ' | ' | -166.4 | -143.2 | -200.2 | -163 | -148.5 | |||||||
Cost of products sold | -15.5 | ' | -15.3 | ' | ' | ' | ' | ' | ' | -45.2 | -44.5 | -58.9 | -57.5 | -52.6 | |||||||
Reimbursable debit network fees, postage and other | ' | ' | -1.2 | ' | ' | ' | ' | ' | ' | ' | -22.6 | -22.6 | -72.6 | -70.5 | |||||||
Other operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Total expenses | -70.8 | ' | -64.4 | ' | ' | ' | ' | ' | ' | -211.6 | -210.3 | -281.7 | -293.1 | -271.6 | |||||||
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -26 | |||||||
Equity earnings from consolidated subsidiaries | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -400 | |||||||
Non-operating income (expense) | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -426 | |||||||
Loss before income taxes and equity earnings in affiliates | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -426 | |||||||
Equity earnings in affiliates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1.9 | |||||||
Net loss | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -427.9 | |||||||
Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest | 25 | ' | 22.9 | ' | ' | ' | ' | ' | ' | 82.8 | 74.7 | 111.7 | 120.4 | 125.8 | |||||||
Net loss attributable to First Data Corporation | -212.6 | ' | -191 | ' | ' | ' | ' | ' | ' | -557.4 | -571.6 | -814 | -706.5 | -553.7 | |||||||
Comprehensive (loss) income | -275.3 | ' | -277.6 | ' | ' | ' | ' | ' | ' | -362.9 | -508.5 | -693.2 | -564.1 | -435.1 | |||||||
Less: Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interest | 25 | ' | 22.9 | ' | ' | ' | ' | ' | ' | 82.8 | 74.7 | 111.7 | 120.4 | 125.8 | |||||||
Comprehensive loss attributable to First Data Corporation | ($300.30) | ' | ($300.50) | ' | ' | ' | ' | ' | ' | ($445.70) | ($583.20) | ($804.90) | ($684.50) | ($560.90) | |||||||
[1] | Includes processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method of $40.3 million and $122.0 million for the three and nine months ended September 30, 2013, respectively, and $40.7 million and $119.4 million for the comparable periods in 2012. | ||||||||||||||||||||
[2] | Includes processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method of $159.8 million, $146.0 million and $134.6 million for the years ended December 31, 2012, 2011 and 2010, respectively. |
Recovered_Sheet10
Supplemental Guarantor Condensed Consolidating Financial Statements (Details 6) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 |
In Millions, unless otherwise specified | ||||||
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $358.60 | $608.30 | $470.20 | $485.70 | $509.50 | $737 |
Accounts receivable, net of allowance for doubtful accounts | 1,632.30 | 1,847.70 | ' | 1,848.60 | ' | ' |
Settlement assets | 9,181.70 | 9,173.80 | ' | 10,658.30 | ' | ' |
Other current assets | 351.7 | 253.6 | ' | 322.9 | ' | ' |
Total current assets | 11,524.30 | 11,883.40 | ' | 13,315.50 | ' | ' |
Property and equipment, net of accumulated depreciation | 866.9 | 855.8 | ' | 935.9 | ' | ' |
Goodwill | 17,232 | 17,282.50 | ' | 17,204.60 | 17,296.90 | ' |
Customer relationships, net of accumulated amortization | 3,322.60 | 3,756.30 | ' | 4,425.40 | ' | ' |
Other intangibles, net of accumulated amortization | 1,726.90 | 1,828.60 | ' | 1,879.20 | ' | ' |
Investment in affiliates | 1,338.70 | 1,413.10 | ' | 1,490.60 | 1,208.20 | ' |
Long-term settlement assets | 18.6 | 54.3 | ' | 181 | ' | ' |
Long-term deferred tax assets | ' | 10.4 | ' | 10.5 | ' | ' |
Other long-term assets | 813.7 | 825 | ' | 844.1 | ' | ' |
Total assets | 36,843.70 | 37,899 | ' | 40,276.30 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Accounts payable | 254.6 | 260.9 | ' | 205.9 | ' | ' |
Short-term and current portion of long-term borrowings | 248.3 | 257.1 | ' | 133.4 | ' | ' |
Settlement obligations | 9,197.60 | 9,226.30 | ' | 10,837.80 | ' | ' |
Other current liabilities | 1,371.10 | 1,600.60 | ' | 1,643.10 | ' | ' |
Total current liabilities | 11,071.60 | 11,344.90 | ' | 12,820.20 | ' | ' |
Long-term borrowings | 22,565.10 | 22,528.90 | ' | 22,521.70 | ' | ' |
Long-term deferred tax liabilities | 553.1 | 509.5 | ' | 695.4 | ' | ' |
Other long-term liabilities | 786.1 | 821.9 | ' | 763.6 | ' | ' |
Total liabilities | 34,975.90 | 35,205.20 | ' | 36,800.90 | ' | ' |
Redeemable noncontrolling interest | 67.9 | 67.4 | 66.6 | 67.4 | 28.1 | ' |
First Data Corporation stockholder's (deficit) equity | -1,395.60 | -598.5 | ' | 96.6 | ' | ' |
Noncontrolling interests | 3,195.50 | 3,224.90 | ' | 3,311.40 | ' | ' |
Total equity | 1,799.90 | 2,626.40 | 2,841.80 | 3,408 | 4,059.90 | 5,100.10 |
Total liabilities and equity | 36,843.70 | 37,899 | ' | 40,276.30 | ' | ' |
FDC Parent Company | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 6.8 | 228 | 130 | 162.2 | 164.1 | 104.6 |
Accounts receivable, net of allowance for doubtful accounts | 6.3 | 4.4 | ' | 25.3 | ' | ' |
Intercompany notes receivable | 12.5 | ' | ' | 12.2 | ' | ' |
Other current assets | 71 | 73 | ' | 45.7 | ' | ' |
Total current assets | 96.6 | 305.4 | ' | 245.4 | ' | ' |
Property and equipment, net of accumulated depreciation | 28.4 | 30.7 | ' | 31.4 | ' | ' |
Other intangibles, net of accumulated amortization | 604.5 | 605 | ' | 606.8 | ' | ' |
Long-term intercompany notes receivable | 3,496.60 | 3,397.30 | ' | 3,229.40 | ' | ' |
Long-term deferred tax assets | 930.9 | 1,028 | ' | ' | ' | ' |
Other long-term assets | 373.5 | 427.1 | ' | 465.7 | ' | ' |
Investment in consolidated subsidiaries | 24,665.80 | 24,308.90 | ' | 23,797.40 | ' | ' |
Total assets | 30,196.30 | 30,102.40 | ' | 28,376.10 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Accounts payable | 5.2 | 13.8 | ' | 7.1 | ' | ' |
Short-term and current portion of long-term borrowings | 95.5 | 15.1 | ' | 0.3 | ' | ' |
Intercompany notes payable | 22.7 | 30.8 | ' | 62.5 | ' | ' |
Other current liabilities | 471 | 608.1 | ' | 690.5 | ' | ' |
Total current liabilities | 594.4 | 667.8 | ' | 760.4 | ' | ' |
Long-term borrowings | 22,460.90 | 22,462.30 | ' | 22,422.40 | ' | ' |
Long-term deferred tax liabilities | ' | -1,079.70 | ' | -1,091.60 | ' | ' |
Long-term intercompany payables | 7,633.30 | 6,642.40 | ' | 5,292.90 | ' | ' |
Long-term intercompany notes payable | 286.1 | 276.7 | ' | 260.6 | ' | ' |
Other long-term liabilities | 617.2 | 651.7 | ' | 634.8 | ' | ' |
Total liabilities | 31,591.90 | 30,700.90 | ' | 28,279.50 | ' | ' |
First Data Corporation stockholder's (deficit) equity | -1,395.60 | -598.5 | ' | 96.6 | ' | ' |
Total equity | -1,395.60 | -598.5 | ' | 96.6 | ' | ' |
Total liabilities and equity | 30,196.30 | 30,102.40 | ' | 28,376.10 | ' | ' |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 32.2 | 37.2 | 20.6 | 37.1 | 21.1 | 25.4 |
Accounts receivable, net of allowance for doubtful accounts | 792.4 | 879.7 | ' | 939.4 | ' | ' |
Settlement assets | 4,858 | 5,097.10 | ' | 6,093.20 | ' | ' |
Other current assets | 205.9 | 145.3 | ' | 212 | ' | ' |
Total current assets | 5,888.50 | 6,159.30 | ' | 7,281.70 | ' | ' |
Property and equipment, net of accumulated depreciation | 592.8 | 561.4 | ' | 623.5 | ' | ' |
Goodwill | 9,483.90 | 9,485.30 | ' | 9,430.90 | ' | ' |
Customer relationships, net of accumulated amortization | 1,838.60 | 2,071.70 | ' | 2,468.40 | ' | ' |
Other intangibles, net of accumulated amortization | 556.2 | 619.7 | ' | 638.7 | ' | ' |
Investment in affiliates | 1,308.50 | 1,375.20 | ' | 1,452.80 | ' | ' |
Long-term intercompany receivables | 6,336.90 | 5,501.30 | ' | 4,330.20 | ' | ' |
Long-term intercompany notes receivable | 284.1 | 270 | ' | 251.5 | ' | ' |
Other long-term assets | 405.2 | 373.5 | ' | 304.3 | ' | ' |
Investment in consolidated subsidiaries | 5,312.60 | 5,379.50 | ' | 5,843 | ' | ' |
Total assets | 32,007.30 | 31,796.90 | ' | 32,625 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Accounts payable | 171.1 | 141.8 | ' | 113.4 | ' | ' |
Short-term and current portion of long-term borrowings | 65.7 | 55.1 | ' | 39.6 | ' | ' |
Settlement obligations | 4,858 | 5,097.10 | ' | 6,093.20 | ' | ' |
Intercompany notes payable | 12.5 | ' | ' | 35.8 | ' | ' |
Other current liabilities | 567.8 | 620.3 | ' | 544.5 | ' | ' |
Total current liabilities | 5,675.10 | 5,914.30 | ' | 6,826.50 | ' | ' |
Long-term borrowings | 91.7 | 47.8 | ' | 69 | ' | ' |
Long-term deferred tax liabilities | 1,291.50 | 1,445.10 | ' | 1,677.50 | ' | ' |
Long-term intercompany notes payable | 3,413 | 3,315.60 | ' | 3,196.80 | ' | ' |
Other long-term liabilities | 226.6 | 222.7 | ' | 100.1 | ' | ' |
Total liabilities | 10,697.90 | 10,945.50 | ' | 11,869.90 | ' | ' |
First Data Corporation stockholder's (deficit) equity | 21,309.40 | 20,851.40 | ' | 20,755.10 | ' | ' |
Total equity | 21,309.40 | 20,851.40 | ' | 20,755.10 | ' | ' |
Total liabilities and equity | 32,007.30 | 31,796.90 | ' | 32,625 | ' | ' |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 319.6 | 343.1 | 319.6 | 286.4 | 324.3 | 607 |
Accounts receivable, net of allowance for doubtful accounts | 833.6 | 963.6 | ' | 883.9 | ' | ' |
Settlement assets | 4,323.70 | 4,076.70 | ' | 4,565.10 | ' | ' |
Intercompany notes receivable | 22.6 | 30.8 | ' | 86.1 | ' | ' |
Other current assets | 74.8 | 35.3 | ' | 65.2 | ' | ' |
Total current assets | 5,574.30 | 5,449.50 | ' | 5,886.70 | ' | ' |
Property and equipment, net of accumulated depreciation | 245.7 | 263.7 | ' | 281 | ' | ' |
Goodwill | 7,748.10 | 7,797.20 | ' | 7,773.70 | ' | ' |
Customer relationships, net of accumulated amortization | 1,484 | 1,684.60 | ' | 1,957 | ' | ' |
Other intangibles, net of accumulated amortization | 566.2 | 603.9 | ' | 633.7 | ' | ' |
Investment in affiliates | 30.2 | 37.9 | ' | 37.8 | ' | ' |
Long-term settlement assets | 18.6 | 54.3 | ' | 181 | ' | ' |
Long-term intercompany receivables | 1,296.40 | 1,141.10 | ' | 962.7 | ' | ' |
Long-term intercompany notes receivable | 0.4 | 8.4 | ' | 59 | ' | ' |
Other long-term assets | 144.4 | 108.2 | ' | 74.1 | ' | ' |
Total assets | 17,108.30 | 17,148.80 | ' | 17,846.70 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Accounts payable | 78.3 | 105.3 | ' | 85.4 | ' | ' |
Short-term and current portion of long-term borrowings | 87.1 | 186.9 | ' | 93.5 | ' | ' |
Settlement obligations | 4,339.60 | 4,129.20 | ' | 4,744.60 | ' | ' |
Other current liabilities | 332.3 | 372.2 | ' | 408.1 | ' | ' |
Total current liabilities | 4,837.30 | 4,793.60 | ' | 5,331.60 | ' | ' |
Long-term borrowings | 12.5 | 18.8 | ' | 30.3 | ' | ' |
Long-term deferred tax liabilities | 192.5 | 92.4 | ' | 109.5 | ' | ' |
Long-term intercompany notes payable | 81.9 | 83.4 | ' | 82.5 | ' | ' |
Other long-term liabilities | 51.7 | 31.3 | ' | 28.7 | ' | ' |
Total liabilities | 5,175.90 | 5,019.50 | ' | 5,582.60 | ' | ' |
Redeemable equity interest | 67.9 | 67.4 | ' | 67.4 | ' | ' |
First Data Corporation stockholder's (deficit) equity | 5,457.10 | 5,583 | ' | 5,534.40 | ' | ' |
Noncontrolling interests | 84.2 | 70.5 | ' | 60.8 | ' | ' |
Equity of consolidated alliance | 6,323.20 | 6,408.40 | ' | 6,601.50 | ' | ' |
Total equity | 11,864.50 | 12,061.90 | ' | 12,196.70 | ' | ' |
Total liabilities and equity | 17,108.30 | 17,148.80 | ' | 17,846.70 | ' | ' |
Consolidation Adjustments | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Intercompany notes receivable | -35.1 | -30.8 | ' | -98.3 | ' | ' |
Total current assets | -35.1 | -30.8 | ' | -98.3 | ' | ' |
Long-term intercompany receivables | -7,633.30 | -6,642.40 | ' | -5,292.90 | ' | ' |
Long-term intercompany notes receivable | -3,781.10 | -3,675.70 | ' | -3,539.90 | ' | ' |
Long-term deferred tax assets | -930.9 | -1,028 | ' | ' | ' | ' |
Other long-term assets | -109.4 | -83.8 | ' | ' | ' | ' |
Investment in consolidated subsidiaries | -29,978.40 | -29,688.40 | ' | -29,640.40 | ' | ' |
Total assets | -42,468.20 | -41,149.10 | ' | -38,571.50 | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' |
Intercompany notes payable | -35.2 | -30.8 | ' | -98.3 | ' | ' |
Total current liabilities | -35.2 | -30.8 | ' | -98.3 | ' | ' |
Long-term deferred tax liabilities | -930.9 | -1,028 | ' | ' | ' | ' |
Long-term intercompany payables | -7,633.30 | -6,642.40 | ' | -5,292.90 | ' | ' |
Long-term intercompany notes payable | -3,781 | -3,675.70 | ' | -3,539.90 | ' | ' |
Other long-term liabilities | -109.4 | -83.8 | ' | ' | ' | ' |
Total liabilities | -12,489.80 | -11,460.70 | ' | -8,931.10 | ' | ' |
Redeemable equity interest | -67.9 | -67.4 | ' | -67.4 | ' | ' |
Redeemable noncontrolling interest | 67.9 | 67.4 | ' | 67.4 | ' | ' |
First Data Corporation stockholder's (deficit) equity | -26,766.50 | -26,434.40 | ' | -26,289.50 | ' | ' |
Noncontrolling interests | 3,111.30 | 3,154.40 | ' | 3,250.60 | ' | ' |
Equity of consolidated alliance | -6,323.20 | -6,408.40 | ' | -6,601.50 | ' | ' |
Total equity | -29,978.40 | -29,688.40 | ' | -29,640.40 | ' | ' |
Total liabilities and equity | ($42,468.20) | ($41,149.10) | ' | ($38,571.50) | ' | ' |
Recovered_Sheet11
Supplemental Guarantor Condensed Consolidating Financial Statements (Details 7) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | ($180.30) | ($124) | ($174.20) | ($115) | ($114.10) | ($13.60) | ($9.80) | ($128.20) | ($184.50) | ($623.90) | ($403.30) | ($527.30) | ($336.10) | ($846.90) |
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) | 301.4 | ' | 326.9 | ' | ' | ' | ' | ' | ' | 908.1 | 1,004.10 | 1,330.90 | 1,344.20 | 1,526 |
Charges (gains) related to other operating expenses and other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66.9 | 112.1 | 122.5 | -77.7 | 97.4 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5.1 | -37.8 | -40.2 | 27.7 | 265.6 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | -14 | -136.9 | -118.5 | 157.5 | -287.4 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 332 | 538.2 | 767.4 | 1,115.60 | 754.7 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current period acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1.9 | -32.9 | -19.2 | -1.8 |
Contributions to equity method investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.9 | -7.9 | -161.5 | -1.4 |
Payments related to other businesses previously acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | -3.2 | -4.4 | 3.2 | -1.4 |
Proceeds from dispositions, net of expenses paid and cash disposed | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14.5 | ' | ' | 1.7 | 21.2 |
Additions to property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -132.3 | -136.3 | -193.1 | -202.9 | -210.1 |
Proceeds from sale of property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.2 | 7.8 | 8 | 17.1 | 5.5 |
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | -128 | -141.2 | -177.2 | -201.9 | -159.6 |
Other investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.2 | 7.3 | 10.4 | 4.9 | 18.4 |
Net cash used in investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -234.2 | -275.4 | -397.1 | -558.6 | -329.2 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term borrowings, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3.1 | -22 | 99.1 | -107.3 | 75.1 |
Accrued interest funded upon issuance of notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6.5 | 6.5 | 6.5 | ' | ' |
Debt modification (payments) proceeds and related financing costs, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -49 | 10.8 | 10.8 | -39.7 | -61.2 |
Principal payments on long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -72.4 | -60.2 | -83.3 | -104.5 | -220.4 |
Proceeds from sale-leaseback transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.8 | 13.8 | 14.2 | ' |
Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | -156.5 | -199 | -261.9 | -327.3 | -216.1 |
Redemption of Parent's redeemable common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.5 | -0.5 | -1.7 | -0.5 | -2.5 |
Purchase of noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | -23.7 | -25.1 | -25.1 | ' | -213.3 |
Cash dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | -21.5 | -5.1 | -6.7 | -0.2 | -14.9 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -340.2 | -280.8 | -248.5 | -564.5 | -653.3 |
Effect of exchange rate changes on cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.3 | 2.5 | 0.8 | -16.3 | 0.3 |
Change in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | -249.7 | -15.5 | 122.6 | -23.8 | -227.5 |
Cash and cash equivalents at beginning of period | ' | 470.2 | ' | ' | 485.7 | ' | ' | ' | 509.5 | 608.3 | 485.7 | 485.7 | 509.5 | 737 |
Cash and cash equivalents at end of period | 358.6 | 608.3 | 470.2 | ' | ' | 485.7 | ' | ' | ' | 358.6 | 470.2 | 608.3 | 485.7 | 509.5 |
FDC Parent Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -219.5 | ' | -212 | ' | ' | ' | ' | ' | ' | -746 | -521.9 | -700.9 | -516.1 | -1,021.80 |
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) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.5 | 6 | 8.1 | 8.3 | 7.6 |
Charges (gains) related to other operating expenses and other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47.2 | 78.5 | 101.9 | -59.6 | 9.9 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -303.8 | -346.1 | -483.9 | -360.3 | -62.4 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | -356.7 | -483.8 | -461.8 | -327 | -564.4 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,353.80 | -1,267.30 | -1,536.60 | -1,254.70 | -1,506.30 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current period acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -33 | ' | ' |
Additions to property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | -1.7 | -2.6 | -4.6 | -4.2 |
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.4 | -0.7 | -0.8 | -1 | -1.7 |
Distributions and dividends from subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | 146.5 | 87 | ' | 109.7 | 225.8 |
Other investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | 1.9 | 228.3 | 1.5 | 3.8 |
Net cash used in investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 146.3 | 86.5 | 191.9 | 105.6 | 223.7 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term borrowings, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95 | ' | ' | ' | ' |
Accrued interest funded upon issuance of notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6.5 | 6.5 | 6.5 | ' | ' |
Debt modification (payments) proceeds and related financing costs, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -49 | 10.8 | 10.8 | -39.7 | -61.2 |
Principal payments on long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15.4 | -0.2 | -3.4 | -32.9 | -143.8 |
Redemption of Parent's redeemable common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.5 | -0.5 | -1.7 | -0.5 | ' |
Cash dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | -21.5 | -5.1 | -6.7 | -0.2 | -14.9 |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | 991.2 | 1,137.10 | 1,405 | 1,220.50 | 1,564.50 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 986.3 | 1,148.60 | 1,410.50 | 1,147.20 | 1,342.10 |
Change in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | -221.2 | -32.2 | 65.8 | -1.9 | 59.5 |
Cash and cash equivalents at beginning of period | ' | ' | ' | ' | 162.2 | ' | ' | ' | 164.1 | 228 | 162.2 | 162.2 | 164.1 | 104.6 |
Cash and cash equivalents at end of period | 6.8 | 228 | 130 | ' | ' | 162.2 | ' | ' | ' | 6.8 | 130 | 228 | 162.2 | 164.1 |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | 146.9 | ' | 88.5 | ' | ' | ' | ' | ' | ' | 334.1 | 332.8 | 447.2 | 368.2 | 390.4 |
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) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 568.5 | 638.4 | 844.5 | 827.4 | 1,036.90 |
Charges (gains) related to other operating expenses and other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19.9 | 20.9 | 20.8 | -45.3 | 20 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -173.9 | -194.1 | -265.8 | -209.5 | -207.4 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | 215.1 | 347.2 | 515 | 383.8 | 66.6 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 963.7 | 1,145.20 | 1,561.70 | 1,324.60 | 1,306.50 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current period acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1.9 | 0.1 | -19.1 | -1.7 |
Contributions to equity method investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.9 | -7.9 | -161.5 | -1.4 |
Payments related to other businesses previously acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | -3.2 | -4.4 | ' | ' |
Proceeds from dispositions, net of expenses paid and cash disposed | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.8 | ' | 7.1 | ' | ' |
Additions to property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -63.6 | -67.3 | -88.9 | -101.3 | -113 |
Proceeds from sale of property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.1 | 6.9 | ' | 14.3 | 1.4 |
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | -91.4 | -117.1 | -137.8 | -161.6 | -116.9 |
Distributions and dividends from subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | 131.5 | 161.6 | ' | 294.5 | 187.9 |
Other investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 0.5 | 219 | 6.9 | 135.1 |
Net cash used in investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6.4 | -28.4 | -12.8 | -127.8 | 91.4 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal payments on long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -49.9 | -44.9 | -56.2 | -52.7 | -57 |
Proceeds from sale-leaseback transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.8 | 13.8 | 2.5 | ' |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | -914 | -1,098.20 | -1,502.20 | -1,116.40 | -1,346.10 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -963.9 | -1,129.30 | -1,544.60 | -1,166.60 | -1,403.10 |
Effect of exchange rate changes on cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 | -4 | -4.2 | -14.2 | 0.9 |
Change in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5 | -16.5 | 0.1 | 16 | -4.3 |
Cash and cash equivalents at beginning of period | ' | ' | ' | ' | 37.1 | ' | ' | ' | 21.1 | 37.2 | 37.1 | 37.1 | 21.1 | 25.4 |
Cash and cash equivalents at end of period | 32.2 | 37.2 | 20.6 | ' | ' | 37.1 | ' | ' | ' | 32.2 | 20.6 | 37.2 | 37.1 | 21.1 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | 79.9 | ' | 117.4 | ' | ' | ' | ' | ' | ' | 262.6 | 282.7 | 428.7 | 397.9 | 212.4 |
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) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 334.1 | 359.7 | 478.3 | 508.5 | 481.5 |
Charges (gains) related to other operating expenses and other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | 12.7 | -0.2 | 27.2 | 41.5 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | 5.5 | 7.2 | 11.4 | 8.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | 127.6 | -0.3 | -171.7 | 100.7 | 213.3 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 722.1 | 660.3 | 742.3 | 1,045.70 | 957.5 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current period acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | -0.1 |
Payments related to other businesses previously acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.2 | -1.4 |
Proceeds from dispositions, net of expenses paid and cash disposed | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.7 | ' | 0.9 | 1.7 | 21.2 |
Additions to property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | -68.6 | -67.3 | -101.6 | -97 | -92.9 |
Proceeds from sale of property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0.9 | ' | 2.8 | 4.1 |
Payments to secure customer service contracts, including outlays for conversion, and capitalized systems development costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | -36.2 | -23.4 | -38.6 | -39.3 | -41 |
Other investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | 4.9 | 6.7 | -3.5 | 14 |
Net cash used in investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -96.1 | -84.9 | -132.6 | -132.2 | -96.1 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term borrowings, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -98.1 | -22 | 99.1 | -107.3 | 75.1 |
Principal payments on long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7.1 | -15.1 | -23.7 | -18.9 | -19.6 |
Proceeds from sale-leaseback transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.7 | ' |
Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | -30.6 | -45.4 | -54 | -44.2 | -31 |
Distributions paid to equity holders | ' | ' | ' | ' | ' | ' | ' | ' | ' | -257.4 | -313.2 | -424 | -577.6 | -368.5 |
Purchase of noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | -23.7 | -25.1 | -25.1 | ' | ' |
Cash dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | -146.5 | -89 | -227.5 | -109.7 | -225.8 |
Intercompany | ' | ' | ' | ' | ' | ' | ' | ' | ' | -77.2 | -38.9 | 97.2 | -104.1 | -218.4 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -640.6 | -548.7 | -558 | -949.3 | -1,143.50 |
Effect of exchange rate changes on cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | -8.9 | 6.5 | 5 | -2.1 | -0.6 |
Change in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | -23.5 | 33.2 | 56.7 | -37.9 | -282.7 |
Cash and cash equivalents at beginning of period | ' | ' | ' | ' | 286.4 | ' | ' | ' | 324.3 | 343.1 | 286.4 | 286.4 | 324.3 | 607 |
Cash and cash equivalents at end of period | 319.6 | 343.1 | 319.6 | ' | ' | 286.4 | ' | ' | ' | 319.6 | 319.6 | 343.1 | 286.4 | 324.3 |
Consolidation Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -187.6 | ' | -168.1 | ' | ' | ' | ' | ' | ' | -474.6 | -496.9 | -702.3 | -586.1 | -427.9 |
Adjustments to reconcile to net cash (used in) provided by operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Charges (gains) related to other operating expenses and other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26 |
Other non-cash and non-operating items, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 474.6 | 496.9 | 702.3 | 586.1 | 401.8 |
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2.9 |
Net cash provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions and dividends from subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | -278 | -248.6 | ' | -404.2 | -413.7 |
Other investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -443.6 | ' | -134.5 |
Net cash used in investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | -278 | -248.6 | -443.6 | -404.2 | -548.2 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distributions and dividends paid to noncontrolling interests and redeemable noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | -125.9 | -153.6 | -207.9 | -283.1 | -185.1 |
Distributions paid to equity holders | ' | ' | ' | ' | ' | ' | ' | ' | ' | 257.4 | 313.2 | 424 | 577.6 | 368.5 |
Purchase of noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -213.3 |
Cash dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | 146.5 | 89 | 227.5 | 109.7 | 225.8 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | $278 | $248.60 | $443.60 | $404.20 | $551.20 |