First Data 2014 Annual Report Download - page 39

During the third quarter of 2014, we extinguished $2.2 billion in debt. Refer to Note 6 "Borrowings" to our Consolidated Financial Statements in Part II, Item
8 of this Form 10-K for additional information on extinguishment of debt. During 2013, we paid notes totaling $16 million. No payments were made in 2012.
Payments for capital leases totaled $79 million, $76 million, and $80 million for 2014, 2013, and 2012, respectively.
 Distributions and dividends paid to noncontrolling
interests and redeemable noncontrolling interest primarily represent distributions of earnings. The activity in all periods presented was primarily the result of
distributions associated with the BAMS alliance.
 In May 2014, we acquired the less than 1% of the equity we did not already own of First Data Polska S.A for $1 million.
In April 2012, we acquired the remaining approximately 30 percent noncontrolling interest in Omnipay, a provider of card and electronic payment
processing services to merchant acquiring banks, for approximately 37 million euro, of which 19 million euro ($25 million) was paid in April 2012 and the
remaining 18 million euro ($24 million) was paid in April 2013.
FDH contributed $2.5 billion to us as a capital contribution and the funds were used to repay certain tranches of our
debt. Payments to FDH for cash dividends totaled $686 million, $28 million, and $7 million for 2014, 2013, and 2012, respectively.

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



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Letters of credit (b)
$ 500.0
$ 500.0
$ 42.9
$ 46.3
Lines of credit and other (c)
349.2
264.8
68.1
68.7
(a) Total available without giving effect to amounts outstanding.
(b) Up to $500 million of our senior secured revolving credit facility is available for letters of credit. Outstanding letters of credit are held in connection with lease arrangements,
bankcard association agreements, and other security agreements. The maximum amount of letters of credit outstanding during 2014 was approximately $48 million. All letters of
credit expire prior to December 10, 2015 with a one-year renewal option. We expect to renew most of the letters of credit prior to expiration.
(c) As of December 31, 2014, represents $283 million of committed lines of credit as well as certain uncommitted lines of credit and other agreements that are available in various
currencies to fund settlement and other activity. We cannot use these lines of credit for general corporate purposes. Certain of these arrangements are uncommitted but, as of the
dates presented, we had borrowings outstanding against them.
In the event one or more of the aforementioned lines of credit becomes unavailable, we will utilize our existing cash, cash flows from operating activities or
our revolving credit facility to meet our liquidity needs.
 All obligations under the senior secured revolving credit facility and senior secured term loan facility are unconditionally
guaranteed by most of our existing and future, direct and indirect, wholly owned, material domestic subsidiaries. The senior secured facilities contain a
number of covenants that, among other things, restrict our ability to incur additional indebtedness; create liens; enter into sale-leaseback transactions;
engage in mergers or consolidations; sell or transfer assets; pay dividends and distributions or repurchase our or our parent company’s capital stock; make
investments, loans or advances; prepay certain indebtedness; make certain acquisitions; engage in certain transactions with affiliates; amend material
agreements governing certain indebtedness; and change our lines of business. The senior secured facilities also require us to not exceed a maximum senior
secured leverage ratio and contain certain customary affirmative covenants and events of default, including a change of control. The senior secured term loan
facility also requires mandatory prepayments based on a percentage of excess cash flow generated by us.
All obligations under the senior secured notes, senior second lien notes, senior notes, and senior subordinated notes are similarly guaranteed in accordance
with their terms by each of our domestic subsidiaries that guarantee obligations under our senior secured term loan facility described above. These notes and
facilities also contain a number of covenants similar to those described for the senior secured obligations noted above. We are in compliance with all
applicable covenants as of December 31, 2014 and anticipate that we will remain in compliance in future periods.
Although all of the above described indebtedness contain restrictions on our ability to incur additional indebtedness, these restrictions are subject to
numerous qualifications and exceptions, including the ability to incur indebtedness in connection with
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