EXHIBIT 12
FIRST DATA CORPORATION
COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
Three months ended June 30, Six months ended June 30,
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2001 2000 2001 2000
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Earnings:
Income before income taxes $343.6(1) $ 302.4(2) $609.7(1) $532.0(3)
Interest expense 31.3 18.9 62.8 39.3
Other adjustments 12.2 11.0 24.5 23.1
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Total earnings (a) $387.1 $ 332.3 $697.0 $594.4
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Fixed charges:
Interest expense $ 31.3 $ 18.9 $ 62.8 $ 39.3
Other adjustments 12.2 11.0 24.5 23.1
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Total fixed $ 43.5 $ 29.9 $ 87.3 $ 62.4
charges (b)
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Ratio of earnings to fixed
charges (a/b) 8.90 11.11 7.98 9.53
(1) Includes restructuring, business divestitures and other net benefits of
$5.7 million. The pro forma ratio of earnings to fixed charges without this
benefit would have been 8.77 and 7.92 for the quarter and six months ended
June 30, 2001, respectively.
(2) Includes restructuring and other net charges of $2.8 million. The pro forma
ratio of earnings to fixed charges without these charges would have been
11.21 for the quarter ended June 30, 2000.
(3) Includes restructuring and business divestiture charges of $12.3 million.
The pro forma ratio of earnings to fixed charges without these charges
would have been 9.72 for the six months ended June 30, 2000.
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.
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