First Data 2014 Annual Report Download - page 90
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A reconciliation of reportable segment amounts to the Company’s consolidated balances is as follows:
Segment Revenues:
Merchant Solutions
$ 3,667.8
$ 3,639.4
$ 3,602.8
Financial Services
1,461.5
1,368.5
1,390.1
International
1,791.8
1,719.4
1,718.4
Subtotal segment revenues
6,921.1
6,727.3 6,711.3
All Other and Corporate
130.8
121.4 125.0
Adjustments to reconcile to Adjusted revenue:
Official check and money order revenues (a)
(2.7)
(4.4) (12.7)
Eliminations of intersegment revenues
(62.4)
(68.1) (61.6)
Adjusted revenue
6,986.8
6,776.2 6,762.0
Adjustments to reconcile to Consolidated revenues:
Adjustments for non-wholly owned entities (b)
57.3
38.4 73.2
Official check and money order revenues
2.7
4.4 12.7
ISO commission expense
501.5
482.5 470.9
Reimbursable debit network fees, postage, and other
3,603.5
3,507.4 3,361.5
Consolidated revenues
$ 11,151.8
$ 10,808.9 $ 10,680.3
Segment EBITDA:
Merchant Solutions
$ 1,664.6
$ 1,629.8
$ 1,594.8
Financial Services
741.3
617.9
603.1
International
532.7
475.3
483.8
Total reported segments
2,938.6
2,723.0 2,681.7
All Other and Corporate
(275.9)
(273.6) (246.0)
Adjusted EBITDA
2,662.7
2,449.4 2,435.7
Adjustments to reconcile to Net loss attributable to First Data Corporation:
Adjustments for non-wholly owned entities (b)
24.7
2.4 6.8
Depreciation and amortization
(1,055.5)
(1,091.3) (1,191.6)
Interest expense
(1,753.0)
(1,880.7) (1,897.8)
Interest income
10.6
11.1 8.8
Loss on debt extinguishment
(260.1)
—
—
Other items (c)
94.1
(132.7) (156.9)
Income tax (expense) benefit
(82.1)
(86.5) 224.0
Stock based compensation
(49.9)
(38.1) (11.8)
Official check and money order EBITDA (a)
1.0
2.7 6.4
Costs of alliance conversions
(20.0)
(68.3) (77.2)
KKR related items
(26.9)
(31.8) (33.6)
Debt issuance costs
(3.4)
(5.3) (13.7)
Net loss attributable to First Data Corporation
$ (457.8)
$ (869.1) $ (700.9)
(a) Represents an adjustment to exclude the official check and money order businesses from revenue and EBITDA due to the Company’s wind down of these businesses.
(b) Net adjustment to reflect First Data’s proportionate share of alliance revenue and EBITDA within the Merchant Solutions segment, equity earnings in affiliates included in
International segment revenue, and amortization related to equity method investments not included in segment EBITDA.
(c) Includes restructuring, certain retention bonuses, litigation and regulatory settlements, divestitures, and impairments as applicable to the periods presented and “Other income
(expense)” as presented in the Consolidated Statement of Operations.
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