First Data 2013 Annual Report Download - page 96
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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 unsecured 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 $28.0 million during 2013, $6.7 million during 2012, and $0.2 million during 2011.
The income tax effects allocated to and the cumulative balance of each component of OCI are as follows:
Unrealized gains (losses) on securities $ 1.1 $ 1.9 $0.7 $ 1.2 $ 2.3
Foreign currency translation adjustment (425.9) (103.1)(24.6) (78.5) (504.4)
Pension liability adjustments (127.4)64.3 23.5 40.8 (86.6)
$(552.2) $ (36.9) $ (0.4) $ (36.5) $ (588.7)
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 16.0 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)
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 59.0 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)
The net-of-tax Foreign currency translation adjustment presented above for the year ended December 31, 2013, 2012 and 2011 is different than the
amount presented on the Consolidated Statements of Comprehensive Income (Loss) by $1.4 million, $3.3 million and $(6.9) million, respectively, due to the
foreign currency translation adjustment related to noncontrolling interests not included above.
The following table presents the effects of changes in FDC’s ownership interest in less than wholly-owned subsidiaries on FDC’s equity:
Net loss attributable to FDC $(869.1) $ (700.9) $ (516.1)
Transfers from noncontrolling interests:
Increase (decrease) in FDC’s paid-in capital for gain (loss) recognized from purchase
of noncontrolling interest, including tax effect 5.8 (46.1) —
Change in net loss attributable to FDC and transfers from noncontrolling interests $(863.3)$(747.0)$(516.1)
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