First Data 2010 Annual Report Download - page 101
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Table of Contents
FIRST DATA CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of December 31, 2010 2009
(in millions)
Property and equipment:
Land $ 91.8 $ 92.6
Buildings 340.7 403.5
Leasehold improvements 46.2 44.6
Equipment and furniture 947.9 812.8
Equipment under capital lease 217.0 161.6
1,643.6 1,515.1
Less accumulated depreciation (691.6) (463.7)
$ 952.0 $ 1,051.4
Other long-term assets:
Accounts receivable $ 150.1 $ 144.3
Leasing Receivables, net of allowance for doubtful accounts of $8.8 (2010) and $7.6 (2009) 221.7 208.3
Investments 25.0 25.6
Regulatory and escrowed cash 13.4 28.8
Derivative financial instruments 7.7 1.2
Deferred financing costs, net of amortization 331.3 411.2
Deferred income tax assets 11.6 3.3
Pension asset 0.2 —
Other 19.7 22.0
$ 780.7 $ 844.7
Other current liabilities:
Accrued expenses $ 711.7 $ 931.3
Compensation and benefit liabilities 253.9 182.3
Due to unconsolidated merchant alliances 115.5 97.4
Other 272.6 343.9
$ 1,353.7 $ 1,554.9
Other long-term liabilities:
Pension obligations $ 69.8 $ 143.1
Derivative financial instruments 375.0 465.0
Income taxes payable 556.5 586.7
Other 138.3 107.1
$ 1,139.6 $ 1,301.9
Supplemental Cash Flow Information
Supplemental cash flow information is summarized as follows (in millions):
Year ended December 31,
2010 2009 2008
Income tax payments, net of refunds received $ 100.5 $ 79.0 $ 69.0
Interest paid 1,494.9 1,412.2 1,424.7
Distributions received from equity method investments 194.1 136.7 122.7
Significant non-cash transactions. In December 2010, the Company exchanged $3.0 billion of its 9.875% senior notes due 2015 and $3.0 billion of its
10.550% senior PIK notes due 2015 for $2.0 billion of 8.25% senior second lien notes due 2021, $1.0 billion of 8.75%/10.00% PIK toggle senior second
lien notes due 2022 and $3.0 billion of 12.625% senior notes due 2021.
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