First Data 2011 Annual Report Download - page 89
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Financial instruments carried and measured at fair value on a recurring basis are classified in the table below according to the
fair value hierarchy described above:
As of December 31, 2011
Fair Value Measurement Using
(in millions)
Quoted prices in
active markets
for identical assets
(Level 1)
Significant other
observable
inputs
(Level 2)
Significant
unobservable
inputs
(Level 3) Total
Assets:
Settlement assets:
Student loan auction rate securities $ — $ — $ 170.5 $ 170.5
Corporate bonds — 10.2 — 10.2
State and municipal obligations — 95.5 — 95.5
U.S. Government guaranteed agency
securities — 10.0 — 10.0
Preferred stock 0.5 — — 0.5
Total settlement assets 0.5 115.7 170.5 286.7
Other long-term assets:
Available-for-sale securities — 0.5 — 0.5
Interest rate swap contracts — 65.4 — 65.4
Foreign currency derivative contracts — 10.9 — 10.9
Total other long-term assets — 76.8 — 76.8
Total assets at fair value $ 0.5 $ 192.5 $ 170.5 $ 363.5
Liabilities:
Other current liabilities:
Interest rate swap contracts $ — $ 156.7 $ — $ 156.7
Other long-term liabilities:
Foreign currency derivative contracts — 27.8 — 27.8
Forward-starting interest rate contracts — 11.9 — 11.9
Total liabilities at fair value $ — $ 196.4 $ — $ 196.4
As of December 31, 2010
Fair Value Measurement Using
(in millions)
Quoted prices in
active markets
for identical assets
(Level 1)
Significant other
observable
inputs
(Level 2)
Significant
unobservable
inputs
(Level 3) Total
Assets:
Settlement assets:
Student loan auction rate securities $ — $ — $ 341.1 $ 341.1
Corporate bonds — 63.0 — 63.0
Preferred stock 0.2 — — 0.2
Total settlement assets 0.2 63.0 341.1 404.3
Other long-term assets:
Available-for-sale securities — 0.5 — 0.5
Foreign currency derivative contracts — 7.7 — 7.7
Total other long-term assets — 8.2 — 8.2
Total assets at fair value $ 0.2 $ 71.2 $ 341.1 $ 412.5
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