EXHIBIT 12
FIRST DATA CORPORATION
COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
Three months ended September 30, Nine months ended September 30,
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2000 1999 2000 1999
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Earnings:
Income before income taxes $443.5(1) $285.4(3) $ 975.4(2) $718.7(3)
Interest expense 26.1 27.4 65.4 74.4
Other adjustments 11.9 13.3 35.0 39.9
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Total earnings (a) $481.5 $326.1 $1,075.8 $833.0
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Fixed charges:
Interest expense $ 26.1 $ 27.4 $ 65.4 $ 74.4
Other adjustments 11.9 13.3 35.0 39.9
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Total fixed charges (b) $ 38.0 $ 40.7 $ 100.4 $114.3
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Ratio of earnings to fixed
charges (a/b) 12.67 8.01 10.72 7.29
(1) Includes a net gain from restructuring and business divestiture activities
of $112.9 million. The pro forma ratio of earnings to fixed charges
without this gain would have been 9.70 for the quarter ended September 30,
2000.
(2) Includes a net gain from restructuring and business divestiture activities
of $100.6 million. The pro forma ratio of earnings to fixed charges
without this gain would have been 9.71 for the nine months ended September
30, 2000.
(3) Includes restructuring, business divestitures, litigation and impairment
charges of $6.1 million and $41.0 million for the quarter and nine months
ended September 30, 1999, respectively. The pro forma ratio of earnings to
fixed charges without these charges would have been 8.16 and 7.65 for the
quarter and nine months ended September 30, 1999, respectively.
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.