First Data 2008 Annual Report Download - page 199

FIRST DATA CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Predecessor
Year ended December 31, 2006
(in millions)
Parent
Company
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Consolidated
Cash and cash equivalents at beginning of period, including cash of discontinued operations $ 18.5 $ 153.2 $ 1,009.2 — $ 1,180.9
CASH FLOWS FROM OPERATING ACTIVITIES
Net income from continuing operations 1,513.4 1,065.6 303.3 $ (2,034.6) 847.7
Net income from discontinued operations — — 665.7 — 665.7
Adjustments to reconcile to net cash provided by operating activities:
Depreciation and amortization (including amortization netted against equity earnings in affiliates and
revenues) 15.2 543.0 142.6 — 700.8
(Gains) charges related to restructuring, impairments, litigation and regulatory settlements, other and other
income (expense) (12.1) 37.5 (43.0) — (17.6)
Other non-cash and non-operating items, net (1,709.7) (353.5) (9.9) 2,034.6 (38.5)
(Decrease) increase in cash resulting from changes in operating assets and liabilities, excluding the effects
of acquisitions and dispositions (431.9) 484.6 (256.1) — (203.4)
Net cash (used in) provided by operating activities from continuing operations (625.1) 1,777.2 136.9 — 1,289.0
Net cash provided by operating activities from discontinued operations — — 796.0 — 796.0
Net cash (used in) provided by operating activities (625.1) 1,777.2 932.9 — 2,085.0
CASH FLOWS FROM INVESTING ACTIVITIES
Current period acquisitions, net of cash acquired (277.1) (0.7) (9.7) — (287.5)
Payments related to other businesses previously acquired (0.1) (44.1) (6.9) — (51.1)
Proceeds from dispositions, net of expenses paid and cash disposed 74.6 124.1 — — 198.7
Additions to property and equipment, net (3.2) (113.5) (53.7) — (170.4)
Payments to secure customer service contracts, including outlays for conversion and capitalized systems
development costs (1.6) (111.8) (16.3) — (129.7)
Proceeds from the sale of marketable securities — 34.3 10.7 — 45.0
Dividend received from discontinued operations 2,500.0 — — — 2,500.0
Cash retained by Western Union — — (1,327.8) — (1,327.8)
Other investing activities 54.3 (42.5) 190.8 — 202.6
Net cash provided by (used in) investing activities from continuing operations 2,346.9 (154.2) (1,212.9) — 979.8
Net cash used in investing activities from discontinued operations — — (280.3) — (280.3)
Net cash provided by (used in) investing activities 2,346.9 (154.2) (1,493.2) — 699.5
CASH FLOWS FROM FINANCING ACTIVITIES
Short-term borrowings, net 290.9 — (114.9) — 176.0
Principal payments on long-term debt (2,372.3) (19.3) (21.2) — (2,412.8)
Proceeds from issuance of common stock 729.8 — — — 729.8
Excess tax benefit from share-based payment arrangement 124.2 — — — 124.2
Purchase of treasury shares (1,252.5) — — — (1,252.5)
Cash dividends (183.6) — — — (183.6)
Intercompany 1,006.1 (1,575.3) 569.2 — —
Net cash (used in) provided by financing activities from continuing operations (1,657.4) (1,594.6) 433.1 — (2,818.9)
Net cash used in financing activities from discontinued operations — — (26.5) — (26.5)
Net cash (used in) provided by financing activities (1,657.4) (1,594.6) 406.6 — (2,845.4)
Effect of exchange rate changes on cash and cash equivalents — 9.0 25.2 — 34.2
Change in cash and cash equivalents 64.4 37.4 (128.5) — (26.7)
Cash and cash equivalents at end of period $ 82.9 $ 190.6 $ 880.7 $ — $ 1,154.2
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