First Data 2014 Annual Report Download - page 150
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(A Joint Venture)
Financial Statements
December 31, 2014 and 2013
(Dollars in thousands, unless otherwise noted)
The Company recognizes card services revenues from its transaction processing and authorization services as such services are performed. The
revenues from transaction processing and authorization services are included in card services revenue in the statement of revenue and expenses. The
Company recognizes revenue when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service is performed and
collectability of the resulting receivable is reasonably assured. Certain revenues are recorded net of certain costs not controlled by the Company,
including interchange and assessment fees charged by the Card Associations. Such costs totaled $3.5 billion and $2.9 billion for the years ended
December 31, 2014 and 2013. The Company recognizes product revenue from merchant referred leases, rentals and sales as such services are
performed in the form of a fee and a corresponding charge from affiliates of FDMS.
Debit revenues are recorded gross and are included within card services revenue in the statement of revenues and expenses. Debit Network fees are
recorded within cost of card services in the statement of revenues and expenses. Debit revenues are recognized as such services are performed. Debit
Network fees totaled $101.6 million and $96.4 million for the years ended December 31, 2014 and 2013.
In addition to the above, the Company recognizes other fees for services as such services are performed. The other revenue caption on the statement
of revenues and expenses includes relevant items such as monthly fees, new account fees, income from cash advances, chargeback fees, supply fees
and early termination fees.
For the year ended December 31, 2014 and 2013 net income equals comprehensive income.
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