First Data 2007 Annual Report Download - page 83
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operating results as the preceding twelve months from December 31, 2007. There are inherent limitations in the sensitivity analysis presented, primarily due to
the assumption that foreign exchange rate movements are linear and instantaneous. As a result, the analysis is unable to reflect the potential effects of more
complex market changes that could arise, which may positively or negatively affect income.
Regulatory
Through its merchant alliances, the First Data Commercial Services segment holds an ownership interest in several competing merchant acquiring
businesses while serving as the electronic processor for those businesses. In order to satisfy state and federal antitrust requirements, the Company actively
maintains an antitrust compliance program.
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