First Data 2011 Annual Report Download - page 80

Other Information
The following table outlines the net assets acquired and net cash paid for acquisitions (at date of acquisition) for businesses and
assets other than equity method investments:
Year ended December 31,
(in millions) 2011 2010 2009
Fair value of net assets acquired $ 19.2 $ 215.1 $ 3,537.0
Less non-cash consideration — — (3,444.2)
Less cash acquired — — (8.0)
Net cash paid for acquisitions $ 19.2 $ 215.1 $ 84.8
The following table presents changes to goodwill for the years ended December 31, 2010 and 2011:
(in millions)
Retail and
Alliance
Services
Financial
Services International
All Other
and
Corporate
Divested
Operations Totals
Balance as of January 1, 2010
Goodwill $ 14,132.9 $ 3,457.0 $ 2,744.8 $ 195.4 $ 181.3 $ 20,711.4
Accumulated impairment losses (1,106.5)(1,395.2)(375.6)(177.0)(181.3)(3,235.6)
13,026.4 2,061.8 2,369.2 18.4 — 17,475.8
Purchase price adjustments (67.2) (5.6) (0.5) (18.4) — (91.7)
Other adjustments (primarily
foreign currency) — — (87.2)— — (87.2)
Balance as of December 31, 2010
Goodwill 14,065.7 3,451.4 2,657.1 177.0 181.3 20,532.5
Accumulated impairment losses (1,106.5)(1,395.2)(375.6)(177.0)(181.3)(3,235.6)
12,959.2 2,056.2 2,281.5 — — 17,296.9
Deconsolidation (a) (42.8) — — — — (42.8)
Purchase price adjustments — — (4.5) — — (4.5)
Other adjustments (primarily
foreign currency) — — (45.0)— — (45.0)
Balance as of December 31, 2011
Goodwill 14,022.9 3,451.4 2,607.6 177.0 181.3 20,440.2
Accumulated impairment losses (1,106.5)(1,395.2)(375.6)(177.0)(181.3)(3,235.6)
$ 12,916.4 $ 2,056.2 $ 2,232.0 $ — $ — $ 17,204.6
(a) Relates to the deconsolidation of the Company's transportation business. Refer to Note 18 of these Consolidated Financial
Statements for additional information.
The terms of certain of the Company's acquisition agreements provide for additional consideration to be paid if the acquired
entity's results of operations exceed certain targeted levels or if certain other conditions are met, as well as other payments or receipts
of cash related to certain events that transpired subsequent to the acquisition of certain companies. Targeted levels are generally set
substantially above the historical experience of the acquired entity at the time of acquisition. Such additional consideration is paid in
cash and is recorded when payable as additional purchase price. Additional consideration was received totaling $3.2 million in 2011,
and additional consideration was paid totaling $1.4 million in 2010 and $14.7 million in 2009. As of December 31, 2011, the
Company did not have any contingent consideration payable.
Note 4: Settlement Assets and Obligations
Settlement assets and obligations result from FDC's processing services and associated settlement activities, including
settlement of payment transactions. Settlement assets are generated principally from merchant services transactions. Certain merchant
settlement assets that relate to settlement obligations accrued by the Company are held by partner banks to which the Company does
not have legal ownership but has the right to use to satisfy the related settlement obligation. FDC records corresponding settlement
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