First Data 2008 Annual Report Download - page 190

FIRST DATA CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
senior unsecured PIK term loan bridge loans due 2015 and 11.25% senior subordinated unsecured term loan bridge loans due 2016 for senior unsecured cash-
pay notes, senior unsecured PIK notes and senior subordinated unsecured notes. The Guarantors also unconditionally guarantee the senior secured revolving
credit facility and senior secured term loan facility, senior unsecured cash-pay notes, senior unsecured PIK notes and senior subordinated unsecured notes.
The senior publically tradable note guarantees are unsecured and rank senior in right of payment to all existing and future subordinated indebtedness of the
Company's guarantor subsidiaries. The senior publically tradable note guarantees rank equally in right of payment with all existing and future senior
indebtedness of the guarantor subsidiaries.
The following tables present the results of operations, financial position and cash flows of the Company ("Parent"), the Guarantor subsidiaries, the Non-
Guarantor subsidiaries and Eliminations for the successor year ended December 31, 2008, the successor period from September 25, 2007 through
December 31, 2007, the predecessor period from January 1, 2007 through September 24, 2007, and the predecessor year ended December 31, 2006 and as of
December 31, 2008 and December 31, 2007 to arrive at the information for First Data Corporation on a consolidated basis.
(in millions)
Successor
Year ended December 31, 2008
Parent
Company
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Revenues:
Transaction and processing service fees $ 2.6 $ 4,061.9 $ 1,727.1 $ (6.3) $ 5,785.3
Investment income, net — 25.2 51.9 — 77.1
Product sales and other — 530.7 342.7 (25.2) 848.2
Reimbursable debit network fees, postage and other — 1,995.8 104.9 — 2,100.7
2.6 6,613.6 2,226.6 (31.5) 8,811.3
Expenses:
Cost of services (exclusive of items shown below) — 2,161.5 892.8 (6.3) 3,048.0
Cost of products sold — 210.6 131.4 (25.2) 316.8
Selling, general and administrative 223.4 596.9 377.1 — 1,197.4
Reimbursable debit network fees, postage and other — 1,995.8 104.9 — 2,100.7
Depreciation and amortization 5.9 1,010.8 353.0 — 1,369.7
Other operating expenses:
Restructuring, net — 12.0 — — 12.0
Impairments — 2,680.4 563.2 — 3,243.6
229.3 8,668.0 2,422.4 (31.5) 11,288.2
Operating (loss) profit (226.7) (2,054.4) (195.8) — (2,476.9)
Interest income 8.9 3.0 14.1 — 26.0
Interest expense (1,933.9) (7.2) (23.8) — (1,964.9)
Interest (expense) income from intercompany notes (113.6) 87.2 26.4 — —
Other (expense) income (24.1) 0.1 9.6 — (14.4)
Equity (loss) earnings from consolidated subsidiaries (2,350.6) 32.0 — 2,318.6 —
(4,413.3) 115.1 26.3 2,318.6 (1,953.3)
Loss before income taxes, minority interest and equity earnings in affiliates (4,640.0) (1,939.3) (169.5) 2,318.6 (4,430.2)
Income tax (benefit) expense (858.8) 216.8 (57.2) — (699.2)
Minority interest — (1.8) (154.5) — (156.3)
Equity earnings in affiliates 16.9 98.1 8.0 — 123.0
Net loss $ (3,764.3) $ (2,059.8) $ (258.8) $ 2,318.6 $ (3,764.3)
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