First Data Inactive 10-Q2007 Q3 Quarterly report

Filed: 14 Nov 07, 12:00am

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Removed: applying, audit, audited, aware, basic, closure, collection, diluted, dilutive, disbursed, dividing, EPS, executed, exercisable, expressed, expression, fairly, issuable, Oversight, paragraph, paydown, preserve, private, relation, responsibility, responsible, unqualified, vest

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EXHIBIT 12

FIRST DATA CORPORATION

COMPUTATION OF

RATIO OF EARNINGS TO FIXED CHARGES


	Successor			Predecessor
	Period from September 25 through September 30,			Period from July 1 through September 24,		Three months ended September 30,
(in millions)	2007			2007		2006
Earnings:
Income before income taxes⁽¹⁾	$	(49.9	)	$	82.0	$	136.0
Interest expense		34.6			33.2		72.3
Other adjustments		3.6			7.3		8.7

Total earnings^(a)	$	(11.7	)	$	122.5	$	217.0

Fixed charges:
Interest expense	$	34.6		$	33.2	$	72.3
Other adjustments		3.6			7.3		8.7

Total fixed charges^(b)	$	38.2		$	40.5	$	81.0

Ratio of earnings to fixed charges^(a/b)⁽²⁾		—			3.02		2.68

	Successor			Predecessor
	Period from September 25 through September 30,			Period from January 1 through September 24,		Nine months ended September 30,
(in millions)	2007			2007		2006
Earnings:
Income before income taxes⁽¹⁾	$	(49.9	)	$	590.2	$	772.5
Interest expense		34.6			103.6		190.8
Other adjustments		3.6			23.5		23.7

Total earnings^(a)	$	(11.7	)	$	717.3	$	987.0

Fixed charges:
Interest expense	$	34.6		$	103.6	$	190.8
Other adjustments		3.6			23.5		23.7

Total fixed charges^(b)	$	38.2		$	127.1	$	214.5

Ratio of earnings to fixed charges^(a/b)⁽²⁾		—			5.64		4.60

⁽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.

⁽²⁾	The computed ratio is not meaningful as a loss was generated in the period.

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. Fixed charges do not include interest on income tax liabilities. Earnings consist of income before income taxes plus fixed charges.