EXHIBIT 12
FIRST DATA CORPORATION
COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(in millions)
| Three months ended June 30, | Six months ended June 30, | |||||||||||
2006 (Restated) | 2005 (Restated) | 2006 (Restated) | 2005 (Restated) | |||||||||
Earnings: | ||||||||||||
Income before income taxes(1) | $ | 652.6 | $ | 374.5 | $ | 1,262.8 | $ | 1,047.7 | ||||
Interest expense | 72.8 | 55.0 | 142.0 | 103.1 | ||||||||
Other adjustments | 9.7 | 9.6 | 20.0 | 20.1 | ||||||||
Total earnings (a) | $ | 735.1 | $ | 439.1 | $ | 1,424.8 | $ | 1,170.9 | ||||
Fixed charges: | ||||||||||||
Interest expense | $ | 72.8 | $ | 55.0 | $ | 142.0 | $ | 103.1 | ||||
Other adjustments | 9.7 | 9.6 | 20.0 | 20.1 | ||||||||
Total fixed charges (b) | $ | 82.5 | $ | 64.6 | $ | 162.0 | $ | 123.2 | ||||
Ratio of earnings to fixed charges (a/b) | 8.9 | 6.8 | 8.8 | 9.5 | ||||||||
| (1) | Income before income taxes includes minority interest and equity earnings in affiliates and excludes discontinued operations. Reflecting such amounts on a cash basis would not materially impact the ratio due to the frequency of cash distributions. |
For purposes of computing the ratio of earnings to fixed charges, fixed charges consist of interest on debt, amortization of deferred financing costs and a portion of rentals determined to be representative of interest. Earnings consist of income before income taxes plus fixed charges.
