First Data 2011 Annual Report Download - page 123

Note 19: Supplemental Guarantor Condensed Consolidating Financial Statements
As described in Note 8 of these Consolidated Financial Statements, FDC's 9.875% senior notes, 12.625% senior notes, 10.55%
senior notes and 11.25% senior subordinated notes are unconditionally guaranteed by substantially all existing and future, direct and
indirect, wholly-owned, domestic subsidiaries of FDC other than Integrated Payment Systems Inc. ("Guarantors"). None of the other
subsidiaries of FDC, either direct or indirect, guarantee the notes ("Non-Guarantors"). The Guarantors also unconditionally guarantee
the senior secured revolving credit facility, senior secured term loan facility, the 8.875% senior secured notes and the 7.375% senior
secured notes, which rank senior in right of payment to all existing and future unsecured and second lien indebtedness of FDC's
guarantor subsidiaries. The Guarantors further unconditionally guarantee the 8.25% senior second lien notes and 8.75%/10.00% PIK
toggle senior second lien notes which rank senior in right of payment to all existing and future unsecured indebtedness of FDC's
guarantor subsidiaries. The 9.875% senior note, 12.625% senior note, 10.55% senior note and 11.25% senior subordinated note
guarantees are unsecured and rank equally in right of payment with all existing and future senior indebtedness of the guarantor
subsidiaries but senior in right of payment to all existing and future subordinated indebtedness of FDC's guarantor subsidiaries. The
11.25% senior subordinated note guarantees are unsecured and rank equally in right of payment with all existing and future senior
subordinated indebtedness of the guarantor subsidiaries.
The following tables present the results of operations, financial position and cash flows of FDC ("FDC Parent Company"), the
Guarantor subsidiaries, the Non-Guarantor subsidiaries and consolidation adjustments for the years ended December 31, 2011, 2010
and 2009 and as of December 31, 2011 and 2010 to arrive at the information for FDC on a consolidated basis.
Year ended December 31, 2011
(in millions)
FDC Parent
Company
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries
Consolidation
Adjustments Consolidated
Revenues:
Transaction and processing service fees $ — $ 4,055.9 $ 2,437.1 $ (163.0) $ 6,330.0
Product sales and other — 551.4 358.2 (57.5) 852.1
Reimbursable debit network fees, postage
and other — 2,445.0 1,159.1 (72.6)3,531.5
— 7,052.3 3,954.4 (293.1)10,713.6
Expenses:
Cost of services (exclusive of items shown
below) — 1,909.8 1,141.6 (163.0) 2,888.4
Cost of products sold — 274.7 152.4 (57.5) 369.6
Selling, general and administrative 259.7 957.8 476.2 — 1,693.7
Reimbursable debit network fees, postage
and other — 2,445.0 1,159.1 (72.6) 3,531.5
Depreciation and amortization 8.3 743.1 493.6 — 1,245.0
Other operating expenses:
Restructuring, net (0.6) 23.1 23.9 — 46.4
Litigation and regulatory settlements (2.5)— — — (2.5)
264.9 6,353.5 3,446.8 (293.1)9,772.1
Operating (loss) profit (264.9)698.8 507.6 — 941.5
Interest income 0.3 0.6 7.0 — 7.9
Interest expense (1,812.9) (7.6) (12.6) — (1,833.1)
Interest income (expense) from intercompany
notes 162.5 (176.6) 14.1 — —
Other income (expense) 59.0 68.4 (3.3) — 124.1
Equity earnings from consolidated subsidiaries 637.9 134.5 — (772.4)—
(953.2)19.3 5.2 (772.4)(1,701.1)
(Loss) income before income taxes and equity
earnings in affiliates (1,218.1) 718.1 512.8 (772.4) (759.6)
Income tax (benefit) expense (702.0) 341.3 90.6 — (270.1)
Equity earnings in affiliates — 153.6 (0.2)— 153.4
Net (loss) income (516.1) 530.4 422.0 (772.4) (336.1)
Less: Net income attributable to noncontrolling
interests — 0.3 59.3 120.4 180.0
Net (loss) income attributable to First Data
Corporation $ (516.1)$ 530.1 $ 362.7 $ (892.8)$ (516.1)
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