First Data 2009 Annual Report Download - page 98

FIRST DATA CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
Successor Predecessor
(in millions)
Year ended
December 31,
2009
Year ended
December 31,
2008
Period from
September 25,
2007 through
December 31,
2007
Period from
January 1, 2007
through
September 24,
2007
Cash and cash equivalents at beginning of period ...................... $ 406.3 $ 606.5 — $ 1,154.2
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income from continuing operations ..................... (1,014.6) (3,608.0) $ (262.9) 569.7
Net loss from discontinued operations ........................... — — — (3.9)
Adjustments to reconcile to net cash provided by operating activities:
Depreciation and amortization (including amortization netted against
equity earnings in affiliates and revenues) ...................... 1,553.8 1,559.6 427.2 540.2
Charges related to other operating expenses and other income
(expense) ............................................... 350.5 3,267.0 73.8 20.9
Other non-cash and non-operating items, net ...................... 303.6 (42.7) (35.6) 67.8
Increase (decrease) in cash, excluding the effects of acquisitions and
dispositions, resulting from changes in:
Accounts receivable, current and long-term ................... 288.8 (86.4) (316.9) (145.4)
Other assets, current and long-term ......................... 215.6 297.4 124.8 (28.7)
Accounts payable and other liabilities, current and long-term ..... (40.2) (18.5) (103.2) (13.3)
Income tax accounts ..................................... (657.9) (768.8) (61.4) 69.6
Excess tax benefit from share-based payment arrangement ....... — (13.1) — (219.8)
Net cash provided by (used in) operating activities from
continuing operations .............................. 999.6 586.5 (154.2) 861.0
Net cash used in operating activities from discontinued
operations ....................................... — — — (9.7)
Net cash provided by (used in) operating activities ......... 999.6 586.5 (154.2) 851.3
CASH FLOWS FROM INVESTING ACTIVITIES
Merger, net of cash acquired .................................. — — (25,756.2) —
Current year acquisitions, net of cash acquired .................... (86.5) (188.7) (62.8) (690.3)
Payments related to other businesses previously acquired ............ (14.7) (35.6) (0.5) (50.0)
Proceeds from dispositions, net of expenses paid and cash disposed . . . 88.1 215.1 — —
Proceeds from sale of property and equipment .................... 29.4 — — —
Additions to property and equipment, net ........................ (199.1) (283.9) (55.2) (275.5)
Payments to secure customer service contracts, including outlays for
conversion, and capitalized systems development costs ........... (180.0) (163.9) (57.5) (123.7)
Proceeds from the sale of marketable securities .................... 3.9 74.9 14.1 11.8
Other investing activities ..................................... (48.7) (1.3) 108.7 18.1
Net cash used in investing activities ..................... (407.6) (383.4) (25,809.4) (1,109.6)
CASH FLOWS FROM FINANCING ACTIVITIES
Short-term borrowings, net .................................... (206.1) (41.9) 238.5 26.3
Proceeds from issuance of long-term debt ........................ — 100.4 21,245.7 —
Principal payments on long-term debt ........................... (243.1) (326.8) (2,033.3) (126.6)
Proceeds from issuance of common stock ........................ — — 7,224.4 187.4
Distributions and dividends paid to noncontrolling interests .......... (10.0) (150.9) (36.6) (126.5)
Contributions from noncontrolling interests ...................... 193.0 — — 2.1
Purchase of noncontrolling interests ............................ — (78.4) (73.8) —
Capital contributed by Parent .................................. — 126.8 — —
Excess tax benefit from share-based payment arrangement ........... — 13.1 — 219.8
Purchase of treasury shares ................................... — — — (371.8)
Cash dividends ............................................. — (1.8) — (67.7)
Net cash (used in) provided by financing activities ......... (266.2) (359.5) 26,564.9 (257.0)
Effect of exchange rate changes on cash and cash equivalents ............ 4.9 (43.8) 5.2 34.5
Change in cash and cash equivalents ................................ 330.7 (200.2) 606.5 (480.8)
Cash and cash equivalents at end of period ........................... $ 737.0 $ 406.3 $ 606.5 $ 673.4
See Notes to Consolidated Financial Statements.
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