First Data 2008 Annual Report Download - page 192

FIRST DATA CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(in millions)
Predecessor
Period from January 1 through September 24, 2007
Parent
Company
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Revenues:
Transaction and processing service fees $ 2.3 $ 2,863.8 $ 1,103.8 $ (4.0) $ 3,965.9
Investment income, net — 33.2 (100.1) — (66.9)
Product sales and other — 411.3 224.5 (19.4) 616.4
Reimbursable debit network fees, postage and other — 1,206.7 50.8 — 1,257.5
2.3 4,515.0 1,279.0 (23.4) 5,772.9
Expenses:
Cost of services (exclusive of items shown below) 125.3 1,510.1 575.9 (4.0) 2,207.3
Cost of products sold — 150.6 78.0 (19.4) 209.2
Selling, general and administrative 332.9 503.7 222.2 — 1,058.8
Reimbursable debit network fees, postage and other — 1,206.7 50.8 — 1,257.5
Depreciation and amortization 5.7 349.9 120.8 — 476.4
Other operating expenses:
Restructuring, net (0.6) 6.2 2.3 — 7.9
Impairments — 4.2 16.4 — 20.6
Litigation and regulatory settlements (2.5) 5.0 — — 2.5
Other (3.8) (1.7) (2.2) — (7.7)
457.0 3,734.7 1,064.2 (23.4) 5,232.5
Operating (loss) profit (454.7) 780.3 214.8 — 540.4
Interest income 10.6 3.6 16.6 — 30.8
Interest expense (90.3) (2.7) (10.6) — (103.6)
Interest (expense) income from intercompany notes (38.6) 41.0 (2.4) — —
Other income (expense) 2.4 3.5 (1.0) — 4.9
Equity earnings from consolidated subsidiaries 839.1 137.4 — (976.5) —
723.2 182.8 2.6 (976.5) (67.9)
Income before income taxes, minority interest, equity earnings in affiliates and discontinued
operations 268.5 963.1 217.4 (976.5) 472.5
Income tax (benefit) expense (1) (161.5) 433.6 (146.3) — 125.8
Minority interest — (2.4) (102.9) — (105.3)
Equity earnings in affiliates 30.8 183.6 8.6 — 223.0
Income from continuing operations $ 460.8 $ 710.7 $ 269.4 $ (976.5) $ 464.4
Loss from discontinued operations, net of taxes — — (3.6) — (3.6)
Net income $ 460.8 $ 710.7 $ 265.8 $ (976.5) $ 460.8
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