First Data 2010 Annual Report Download - page 65

Download and view the complete annual report

Please find page 65 of the 2010 First Data annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 178

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178

Table of Contents
FIRST DATA CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
Year ended December 31,
(in millions) 2010 2009 2008
Revenues:
Transaction and processing service fees:
Merchant related services (a) $ 3,521.3 $ 3,047.0 $ 2,786.9
Check services 378.8 364.1 386.4
Card services 1,735.8 1,841.6 2,035.7
Other services 545.6 536.2 576.3
Product sales and other (a) 809.3 796.7 925.3
Reimbursable debit network fees, postage and other 3,389.6 2,728.2 2,100.7
10,380.4 9,313.8 8,811.3
Expenses:
Cost of services (exclusive of items shown below) 3,023.3 2,945.1 2,870.6
Cost of products sold 375.2 305.5 316.8
Selling, general and administrative 1,579.7 1,438.2 1,374.8
Reimbursable debit network fees, postage and other 3,389.6 2,728.2 2,100.7
Depreciation and amortization 1,414.4 1,452.3 1,369.7
Other operating expenses:
Restructuring, net 72.0 92.8 12.0
Impairments 11.5 185.1 3,243.6
Litigation and regulatory settlements (2.0) 11.8 —
9,863.7 9,159.0 11,288.2
Operating profit (loss) 516.7 154.8 (2,476.9)
Interest income 7.8 11.7 26.0
Interest expense (1,796.6) (1,796.4) (1,964.9)
Other income (expense) (15.9) (61.3) (14.4)
(1,804.7) (1,846.0) (1,953.3)
Loss before income taxes and equity earnings in affiliates (1,288.0) (1,691.2) (4,430.2)
Income tax benefit (323.8) (578.8) (699.2)
Equity earnings in affiliates 117.3 97.8 123.0
Net loss (846.9) (1,014.6) (3,608.0)
Less: Net income attributable to noncontrolling interests 174.9 71.8 156.3
Net loss attributable to First Data Corporation $ (1,021.8) $ (1,086.4) $ (3,764.3)
(a) Includes processing fees, administrative service fees and other fees charged to merchant alliances accounted for under the equity method of $134.6
million, $107.7 million and $220.8 million for the years ended December 31, 2010, 2009 and 2008, respectively.
64