1.0.0.3 false Notes to Financial Statements false 1 $ false false 2 Notes to Financial Statements [Abstract] 0 br_NotesToFinancialStatementsAbstract br false na duration string Notes to Financial Statements [Abstract] false false false false false true false false false 1 false false 0 0 false false Notes to Financial Statements [Abstract] false 3 NOTE 1. BASIS OF PRESENTATION 1 us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock us-gaap true na duration string Description containing the entire organization, consolidation and basis of presentation of financial statements disclosure. false false false false false false false false false 1 false false 0 0 NOTE 1. BASIS OF PRESENTATION A. Description of Business. Broadridge Financial Solutions, Inc. (“Broadridge” or the “Company”) is a leading global provider of investor communication, securities processing, and clearing and outsourcing solutions to the financial services industry. The Company classifies its operations into the following three reportable segments:   <TABLE style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0> <TBODY> <TR> <TD width="5%"> </TD> <TD vAlign=top align=left width="2%">•</TD> <TD vAlign=top width="1%"> </TD> <TD vAlign=top align=left> Investor Communication Solutions—provides solutions for the processing and distribution of proxy materials to investors, including vote processing, and for the distribution of regulatory reports and corporate action/reorganization event information, as well as tax reporting solutions. Investor Communication Solutions also provides financial information distribution and transaction reporting services to both financial institutions and securities issuers. These services include the processing and distribution of account statements and trade confirmations, traditional and personalized document fulfillment and content management services, and imaging, archival and workflow solutions. </TD></TR></TBODY></TABLE>   <TABLE style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0> <TBODY> <TR> <TD width="5%"> </TD> <TD vAlign=top align=left width="2%">•</TD> <TD vAlign=top width="1%"> </TD> <TD vAlign=top align=left> Securities Processing Solutions—provides advanced, computerized real-time transaction processing services that automate the securities transaction cycle. Securities Processing Solutions’ products and services include desktop productivity tools and portfolio management, order capture and execution, trade confirmation, settlement and accounting services. </TD></TR></TBODY></TABLE>   <TABLE style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0> <TBODY> <TR> <TD width="5%"> </TD> <TD vAlign=top align=left width="2%">•</TD> <TD vAlign=top width="1%"> </TD> <TD vAlign=top align=left> Clearing and Outsourcing Solutions—provides securities clearing services, which include the process of matching, recording, and processing transaction instructions and then exchanging payments between counterparties. The Company’s securities clearing solutions also enable clients to finance inventory. The Company’s operations outsourcing solutions allow broker-dealers to outsource certain administrative functions relating to clearing and settlement to the Company, from order entry to trade matching and settlement, while maintaining their ability to finance and capitalize their business. </TD></TR></TBODY></TABLE> B. Basis of Presentation. The Condensed Consolidated Financial Statements (the “Financial Statements”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.”). The Financial Statements present the consolidated position of the Company and include the entities in which the Company directly or indirectly has a controlling financial interest and various entities in which the Company has investments recorded under the cost and equity methods of accounting. Intercompany balances and transactions have been eliminated. The results of operations reported for interim periods are not necessarily indicative of the results of operations for the entire year or any subsequent interim period. The Financial Statements should be read in conjunction with the Company’s consolidated financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2008 (the “2008 Annual Report”) filed with the Securities and Exchange Commission (the “SEC”) on August 14, 2008. C. Financial Instruments. Substantially all of the financial instruments of the Company other than Long-term debt are carried at fair values, or at carrying amounts that approximate fair values because of the short maturity of the instruments. The carrying value of the Company’s long-term variable-rate term loan facility approximates fair value because these instruments reflect market changes to interest rates. The carrying value of the Company’s long-term fixed-rate senior notes represents the face value of the long-term fixed-rate senior notes net of the unamortized discount. The fair value of the Company’s long-term fixed-rate senior notes is based on quoted market prices. D. Other Revenues and Interest Expense from Securities Operations. Other revenues includes $6.1 million and $7.0 million for the three months ended December 31, 2008 and 2007, respectively, and $12.7 million and $14.2 million for the six months ended December 31, 2008 and 2007, respectively, for software maintenance and license fees related to the Securities Processing Solutions segment. Other revenues also includes interest income from securities operations related to the Clearing and Outsourcing Solutions segment resulting from customer margin financing and securities-borrowed transactions that is recognized on a settlement date basis. Interest income included in Other revenues totaled $6.6 million and $16.9 million for the three months ended December 31, 2008 and 2007, respectively, and $14.0 million and $34.2 million for the six months ended December 31, 2008 and 2007, respectively. Interest expense from securities operations includes interest incurred on securities loaned transactions and customer credit balances. NOTE 1. BASIS OF PRESENTATION A. Description of Business. Broadridge Financial Solutions, Inc. (“Broadridge” or the “Company”) is a leading global provider of false false Description containing the entire organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 2-6 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 94-6 -Paragraph 10 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 46R -Paragraph 4, 14, 15 false 4 NOTE 2. NEW ACCOUNTING PRONOUNCEMENTS 1 us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock us-gaap true na duration string Represents disclosure of any changes in an accounting principle, including a change from one generally accepted accounting... false false false false false false false false false 1 false false 0 0 NOTE 2. NEW ACCOUNTING PRONOUNCEMENTS In April 2008, the Financial Accounting Standards Board (“FASB”) issued FASB Staff Position (“FSP”) FAS No. 142-3, “Determination of the Useful Life of Intangible Assets” (“FSP FAS 142-3”). This pronouncement amends FASB Statement of Financial Accounting Standards (“SFAS”) No. 142, “Goodwill and Other Intangible Assets” (“SFAS No. 142”), regarding the factors that should be considered in developing the useful lives for intangible assets with renewal or extension provisions. FSP FAS 142-3 requires an entity to consider its own historical experience in renewing or extending similar arrangements, regardless of whether those arrangements have explicit renewal or extension provisions, when determining the useful life of an intangible asset. In the absence of such experience, an entity shall consider the assumptions that market participants would use about renewal or extension, adjusted for entity-specific factors. FSP FAS 142-3 also requires an entity to disclose information regarding the extent to which the expected future cash flows associated with an intangible asset are affected by the entity’s intent and/or ability to renew or extend the arrangement. FSP FAS 142-3 will be effective for qualifying intangible assets acquired by the Company on or after July 1, 2009. The application of FSP FAS 142-3 is not expected to have a material impact on the Company’s results of operations, cash flows or financial positions; however, it could impact future transactions entered into by the Company. In March 2008, the FASB issued Statement No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“SFAS No. 161”). SFAS No. 161 amends and expands the disclosure requirements of SFAS No. 133, “Accounting for Derivative Instruments and Hedging Activities.” It requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. SFAS No. 161 is effective for financial statements issued for fiscal years and interim periods beginning after November 15, 2008. The Company does not expect the adoption of SFAS No. 161 to have a material impact on its results of operations or financial condition. In December 2007, the FASB issued SFAS No. 141 (revised 2007), “Business Combinations” (“SFAS No. 141R”), which replaces SFAS No. 141. SFAS No. 141R establishes principles and requirements for how an acquirer in a business combination recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, and any controlling interest; recognizes and measures the goodwill acquired in the business combination or a gain from a bargain purchase; and determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination. SFAS No. 141R is to be applied prospectively to business combinations for which the acquisition date is on or after an entity’s fiscal year that begins after December 15, 2008. The Company is currently evaluating the requirements of SFAS No. 141R. In December 2007, FASB issued SFAS No. 160 “Noncontrolling Interests in Consolidated Financial Statements—an amendment to ARB No. 51” (“SFAS No. 160”). SFAS No. 160 establishes accounting and reporting standards that require the ownership interest in subsidiaries held by parties other than the parent be clearly identified and presented in the consolidated balance sheets within equity, but separate from the parent’s equity; the amount of consolidated net income attributable to the parent and the noncontrolling interest be clearly identified and presented on the face of the consolidated statement of earnings; and changes in a parent’s ownership interest while the parent retains its controlling financial interest in its subsidiary be accounted for consistently. This statement is effective for fiscal years beginning on or after December 15, 2008. The Company is currently evaluating the requirements of SFAS No. 160. In February 2007, the FASB issued SFAS No. 159, “The Fair Value Option for Financial Assets and Financial Liabilities-Including an amendment of FASB Statement No. 115” (“SFAS No. 159”). This statement provides a fair value option election that allows companies to irrevocably elect fair value as the initial and subsequent measurement attribute for certain financial assets and liabilities, with changes in fair value recognized in earnings as they occur. SFAS No. 159 permits the fair value option election on an instrument by instrument basis at initial recognition of an asset or liability or upon an event that gives rise to a new basis of accounting for that instrument. SFAS No. 159 is effective as of the beginning of an entity’s first fiscal year that begins after November 15, 2007. SFAS No. 159 became effective for the Company beginning on July 1, 2008. The Company has not applied the elective provisions of SFAS No. 159. In September 2006, the FASB issued SFAS No. 157, “Fair Value Measurements” (“SFAS No. 157”). This statement clarifies the definition of fair value, establishes a framework for measuring fair value, and expands the disclosures on fair value measurements. SFAS No. 157 is effective for fiscal years beginning after November 15, 2007. In February 2008, the FASB issued FSP No. 157-1, “Application of FASB Statement No. 157 to FASB Statement No. 13 and Other Accounting Pronouncements that Address Fair Value Measurements for Purposes of Lease Classification or Measurement under Statement 13,” (“FSP No. 157-1”) and FSP No. 157-2, “Effective Date of FASB Statement No. 157” (“FSP No. 157-2”). FSP No. 157-1 amends FASB Statement No. 157 to exclude FASB SFAS No. 13, “Accounting for Leases,” (“SFAS No. 13”) and other accounting pronouncements that address fair value measurements for purposes of lease classification and measurement under SFAS No. 13. This FSP is effective upon the initial adoption of SFAS 157. FSP No. 157-2 delays the effective date of SFAS 157 for nonfinancial assets and nonfinancial liabilities, except for items that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually) to fiscal years beginning after November 15, 2008 and interim periods within those fiscal years for items within the scope of this FSP. The Company adopted SFAS No. 157 and FSP No. 157-1 effective July 1, 2008 and the adoption did not have a material impact on the Company’s consolidated results of operations or financial condition. The Company expects to adopt FSP No. 157-2 on July 1, 2009 and the adoption is not expected to have a material effect on the Company’s consolidated results of operations or financial condition. NOTE 2. NEW ACCOUNTING PRONOUNCEMENTS In April 2008, the Financial Accounting Standards Board (“FASB”) issued FASB Staff Position (“FSP”) FAS No. 142-3, false false Represents disclosure of any changes in an accounting principle, including a change from one generally accepted accounting principle to another generally accepted accounting principle when there are two or more generally accepted accounting principles that apply or when the accounting principle formerly used is no longer generally accepted. Also disclose any change in the method of applying an accounting principle, or any change in an accounting principle required by a new pronouncement in the unusual instance that a new pronouncement does not include specific transition provisions. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 154 -Paragraph 2, 17, 18 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 01 -Paragraph b -Subparagraph 6 -Article 10 false 5 NOTE 3. EARNINGS PER SHARE 1 us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTextBlock us-gaap true na duration string This element may be used to capture the complete disclosure pertaining to an entity's basic earnings per share. false false false false false false false false false 1 false false 0 0 NOTE 3. EARNINGS PER SHARE Basic earnings per share (“EPS”) is calculated by dividing the Company’s Net earnings by the basic Weighted-average shares outstanding for the periods presented. The computation of diluted EPS did not include 17.5 million and 3.1 million options to purchase Broadridge common stock for the three months ended December 31, 2008 and 2007, respectively, and 16.5 million and 7.4 million options to purchase Broadridge common stock for the six months ended December 31, 2008 and 2007, respectively, as the effect of their inclusion would have been anti-dilutive. The following table sets forth the denominators of the basic and diluted EPS computations:   <TABLE cellSpacing=0 cellPadding=0 width="100%" align=center border=0> <TBODY> <TR> <TD width="80%"></TD> <TD vAlign=bottom width="1%"></TD> <TD></TD> <TD vAlign=bottom width="1%"></TD> <TD></TD> <TD vAlign=bottom width="1%"></TD> <TD></TD> <TD vAlign=bottom width="1%"></TD> <TD></TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=3>Three months ended December 31,</TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=3>Six months ended December 31,</TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle>2008</TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle>2007</TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle>2008</TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle>2007</TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Weighted-average shares outstanding:</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom></TD></TR> <TR> <TD vAlign=top> Basic</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>140.2</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>139.3</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>140.3</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>139.2</TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Common stock equivalents</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>1.1</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>1.6</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>1.4</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>1.1</TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD></TR> <TR> <TD vAlign=top> Diluted</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>141.3</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>140.9</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>141.7</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>140.3</TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD></TR></TBODY></TABLE> NOTE 3. EARNINGS PER SHARE Basic earnings per share (“EPS”) is calculated by dividing the Company’s Net earnings by the basic Weighted-average shares false false This element may be used to capture the complete disclosure pertaining to an entity's basic earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 false 6 NOTE 4. OTHER (INCOME) EXPENSES, NET 1 us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock us-gaap true na duration string Discloses other income or other expense items (both operating and nonoperating). Sources of nonoperating income or... false false false false false false false false false 1 false false 0 0 NOTE 4. OTHER (INCOME) EXPENSES, NET Other (income) expenses, net consisted of the following:   <TABLE cellSpacing=0 cellPadding=0 width="100%" align=center border=0> <TBODY> <TR> <TD width="79%"></TD> <TD vAlign=bottom width="3%"></TD> <TD></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="3%"></TD> <TD></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="3%"></TD> <TD></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="3%"></TD> <TD></TD> <TD></TD> <TD></TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=6>Three months ended December 31,</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=6>Six months ended December 31,</TD> <TD vAlign=bottom> </TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2008</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2007</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2008</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2007</TD> <TD vAlign=bottom> </TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Interest expense on borrowings</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>3.2</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>8.5</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>8.6</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>17.6</TD> <TD vAlign=bottom noWrap> </TD></TR> <TR> <TD vAlign=top> Interest income</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>—  </TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(0.7</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(0.5</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(1.0</TD> <TD vAlign=bottom noWrap>)</TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Foreign currency exchange (gain) loss</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(4.7</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>1.6</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(6.7</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>1.5</TD> <TD vAlign=bottom noWrap> </TD></TR> <TR> <TD vAlign=top> Gain from purchase of senior notes</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>—  </TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>—  </TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(8.4</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>—  </TD> <TD vAlign=bottom noWrap> </TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Other, net</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>0.1</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>0.2</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>0.1</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>0.3</TD> <TD vAlign=bottom noWrap> </TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD></TR> <TR> <TD vAlign=top> Other (income) expenses, net</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>(1.4</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>9.6</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>(6.9</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>18.4</TD> <TD vAlign=bottom noWrap> </TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD> </TD></TR></TBODY></TABLE> NOTE 4. OTHER (INCOME) EXPENSES, NET Other (income) expenses, net consisted of the following: false false Discloses other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that should be disclosed in this note, or in the income statement, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph (b) -Subparagraph 3, 6, 7, 9 -Article 5 false 7 NOTE 5. ACQUISITIONS 1 us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock us-gaap true na duration string Schedule of a material business acquisition planned, initiated, or completed during the period, including background, timing,... false false false false false false false false false 1 false false 0 0 NOTE 5. ACQUISITIONS Assets acquired and liabilities assumed in business combinations were recorded on the Company’s Condensed Consolidated Balance Sheets as of the respective acquisition dates based upon their estimated fair values at such dates. The results of operations of businesses acquired by the Company were included in the Company’s Condensed Consolidated Statements of Earnings since their respective dates of acquisition. The excess of the purchase price over the estimated fair values of the underlying assets acquired and liabilities assumed was allocated to goodwill. During fiscal year 2009, the Company acquired one business in the Securities Processing Solutions segment for $13.7 million. In addition, the Company agreed to pay contingent consideration of up to an additional $13.0 million, which is payable over the next two years, subject to the acquired business’ achievement of specified revenue targets. This acquisition resulted in approximately $10.7 million of goodwill. Intangible assets acquired, which totaled approximately $3.8 million, consist primarily of acquired technology and customer relationships that are being amortized over a five-year life and seven-year life, respectively. This acquisition was not material to the Company’s operations, financial position, or cash flows. During fiscal year 2008, the Company acquired one business in the Securities Processing Solutions segment for $6.1 million. This acquisition resulted in approximately $3.6 million of goodwill. Intangible assets acquired, which totaled approximately $2.5 million, consist of acquired technology that is being amortized over a five-year life. This acquisition was not material to the Company’s operations, financial position, or cash flows. NOTE 5. ACQUISITIONS Assets acquired and liabilities assumed in business combinations were recorded on the Company’s Condensed Consolidated Balance Sheets as false false Schedule of a material business acquisition planned, initiated, or completed during the period, including background, timing, and allocation of acquisition costs. Does not include leveraged buyouts. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 51 -Subparagraph a false 8 NOTE 6. SECURITIES CLEARING RECEIVABLES AND PAYABLES 1 us-gaap_DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure us-gaap true na duration string Disclosure of amounts receivable from and payable to broker-dealers and clearing organizations, including securities failed... false false false false false false false false false 1 false false 0 0 NOTE 6. SECURITIES CLEARING RECEIVABLES AND PAYABLES Securities clearing receivables and payables consisted of the following:   <TABLE cellSpacing=0 cellPadding=0 width="100%" align=center border=0> <TBODY> <TR> <TD width="81%"></TD> <TD vAlign=bottom width="5%"></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="5%"></TD> <TD></TD> <TD></TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>December 31, 2008</TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>     June 30,      2008</TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Receivables:</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom></TD></TR> <TR> <TD vAlign=top> Clearing customers</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>453.4</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>802.3</TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Securities borrowed</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>44.4</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>113.9</TD></TR> <TR> <TD vAlign=top> Broker-dealers and other</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>117.7</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>221.3</TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Clearing organizations</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>199.4</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>75.4</TD></TR> <TR> <TD vAlign=top> Securities failed to deliver</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>117.6</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>157.0</TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Total</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>932.5</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>1,369.9</TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD></TR> <TR> <TD vAlign=top> Payables:</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom></TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Clearing customers</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>743.6</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>759.8</TD></TR> <TR> <TD vAlign=top> Securities loaned</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>1.0</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>133.1</TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Broker-dealers and other</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>137.1</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>127.6</TD></TR> <TR> <TD vAlign=top> Securities failed to receive</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>69.2</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>136.9</TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Total</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>950.9</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>1,157.4</TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD></TR></TBODY></TABLE> As of December 31, 2008, the Company has received securities collateral, primarily in connection with customer margin loans, securities borrowed transactions, and correspondent accounts with a market value of approximately $844.2 million, which it can sell or repledge. Of this amount, approximately $211.1 million had been pledged or sold as of December 31, 2008 in connection with securities loaned, street-side settlement, deposits with clearing organizations and Federal and other regulations. Included in the securities collateral and pledged or sold amounts stated above were approximately $76.2 million of borrowed securities segregated in a special reserve account pursuant to Rule 15c3-3 of the Securities Exchange Act of 1934 (“Rule 15c3-3”). As a registered broker-dealer and member of the New York Stock Exchange (“NYSE”) and the Financial Industry Regulatory Authority (“FINRA”), Ridge Clearing & Outsourcing Solutions, Inc. (“Ridge Clearing”) is subject to the Uniform Net Capital Rule 15c3-1 of the Securities Exchange Act of 1934 (“Rule 15c3-1”). Ridge Clearing computes its net capital under the alternative method permitted by Rule 15c3-1, which requires Ridge Clearing to maintain minimum net capital equal to the greater of $1.5 million or 2% of aggregate debit items arising from customer transactions. The NYSE and FINRA may require a member firm to reduce its business if its net capital is less than 4% of aggregate debit items, or may prohibit a member firm from expanding its business or paying cash dividends if resulting net capital would be less than 5% of aggregate debit items. At December 31, 2008, Ridge Clearing had net capital of $234.3 million, which was approximately 40% of aggregate debit items and exceeded the minimum requirements by $222.7 million. Ridge Clearing owns 142.8571 Series A common shares of CAPCO Holdings, Inc. (“CAPCO”) to gain access to the Securities Investor Protection Corporation (“SIPC”) excess bond for customer protection that is furnished by CAPCO. The excess SIPC bond provides for unlimited insurance coverage up to the net equity of each customer’s account. Under the terms of the excess SIPC bond, Ridge Clearing is required to maintain net capital of $200.0 million as defined under Rule 15c3-1, for two consecutive quarters within the twelve-month period ending September 30th of each year. NOTE 6. SECURITIES CLEARING RECEIVABLES AND PAYABLES Securities clearing receivables and payables consisted of the following: false false Disclosure of amounts receivable from and payable to broker-dealers and clearing organizations, including securities failed to receive, deposits received for securities loaned, amounts payable to clearing organizations related to open transactions, floor brokerage payables and payables for commodities futures accounts liquidating to an equity balance on a broker-dealer's records. This element may be used for the entire Due to and from Broker-Dealers and Clearing Organizations disclosure or as a single block of text. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Audit and Accounting Guide (AAG) -Number AAG-BRD -Chapter 4 -Paragraph 24 -IssueDate 2006-05-01 false 9 NOTE 7. BORROWINGS 1 us-gaap_DebtDisclosureTextBlock us-gaap true na duration string Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit,... false false false false false false false false false 1 false false 0 0 NOTE 7. BORROWINGS The Company’s outstanding borrowings consisted of the following:   <TABLE cellSpacing=0 cellPadding=0 width="100%" align=center border=0> <TBODY> <TR> <TD width="71%"></TD> <TD vAlign=bottom width="4%"></TD> <TD></TD> <TD vAlign=bottom width="4%"></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="4%"></TD> <TD></TD> <TD></TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle>Expiration Date</TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=2>December 31, 2008</TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=2>     June 30,      2008</TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Long-term</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom></TD></TR> <TR> <TD vAlign=top> Term loan facility</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>March 2012</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>200.0</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>200.0</TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Senior notes</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>June 2017</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>124.0</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>247.9</TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD></TR> <TR> <TD vAlign=top></TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>324.0</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>447.9</TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD></TR></TBODY></TABLE> In addition, the Company has a five-year revolving credit facility that expires in March 2012 that has an available capacity of $500.0 million. No amounts were outstanding under this credit facility at December 31, 2008. At December 31, 2008 and June 30, 2008, the Company was not aware of any instances of non-compliance with the financial covenants of its borrowings’ obligations. The fair value of the fixed-rate senior notes at December 31, 2008 was $90.0 million based on quoted market prices. The carrying value of the variable-rate term loan facility approximates fair value. Amounts are due on the expiration dates listed above. During the six months ended December 31, 2008, the Company completed the purchase of $125.0 million principal amount of its 6.125% senior notes due 2017 (including $1.0 million unamortized bond discount) pursuant to the cash tender offer for such notes. The consideration paid for the senior notes accepted for payment was $116.3 million. The completed purchase resulted in a one-time non-cash gain from early extinguishment of debt of $8.4 million. NOTE 7. BORROWINGS The Company’s outstanding borrowings consisted of the following: false false Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancings and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 false 10 NOTE 8. STOCK-BASED COMPENSATION 1 us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock us-gaap true na duration string Disclosure of components of a stock option or other award plan under which share-based compensation is awarded to employees,... false false false false false false false false false 1 false false 0 0 NOTE 8. STOCK-BASED COMPENSATION The activity related to the Company’s incentive equity awards for the three months ended December 31, 2008 consisted of the following:   <TABLE cellSpacing=0 cellPadding=0 width="100%" align=center border=0> <TBODY> <TR> <TD width="54%"></TD> <TD vAlign=bottom width="2%"></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="2%"></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="2%"></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="2%"></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="2%"></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="2%"></TD> <TD></TD> <TD></TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=5>Stock Options</TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=5>Time-based Restricted Stock</TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=5>Performance-based Restricted Stock</TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle>Number of Options (a) (b)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=2>Weighted- Average Exercise Price</TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle>Number of Shares</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=2>Weighted- Average Grant Date Fair Value</TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle>Number of Shares</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=2>Weighted- Average Grant Date Fair Value</TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Balances at September 30, 2008</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>17,251,240</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>19.00</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>1,058,215</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>18.54</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>1,165,014</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>19.46</TD></TR> <TR> <TD vAlign=top> Granted</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>753,200</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>20.87</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>923,357</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>14.03</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>328,300</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>14.03</TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Exercised</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>—  </TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>—  </TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>—  </TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>—  </TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>—  </TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>—  </TD></TR> <TR> <TD vAlign=top> Vesting of restricted shares</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>—  </TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>—  </TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>(4,476</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>19.70</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>—  </TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>—  </TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Expired/forfeited</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>(169,710</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>17.42</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>(12,002</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>17.90</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>(10,240</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>19.70</TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom></TD></TR> <TR> <TD vAlign=top> Balances at December 31, 2008</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>17,834,730</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>19.10</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>1,965,094</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>16.42</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom align=right>1,483,074</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>18.25</TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom></TD> <TD vAlign=bottom></TD></TR></TBODY></TABLE>   <TABLE style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0> <TBODY> <TR> <TD vAlign=top align=left width="4%">(a)</TD> <TD vAlign=top align=left>As of December 31, 2008, the Company had no outstanding “in the money” stock options using the December 31, 2008 closing share price of $12.54. </TD></TR></TBODY></TABLE>   <TABLE style="BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0> <TBODY> <TR> <TD vAlign=top align=left width="4%">(b)</TD> <TD vAlign=top align=left>Options outstanding as of December 31, 2008 have a weighted-average remaining contractual life of 4.7 years and 13.6 million options are exercisable. </TD></TR></TBODY></TABLE> The Company accounts for stock-based compensation in accordance with SFAS No. 123R, “Share-Based Payment” which requires the measurement of stock-based compensation expense to be recognized in net earnings based on the fair value of the award on the date of grant. Stock-based compensation expense of $10.1 million and $9.4 million was recognized in earnings for the three months ended December 31, 2008 and 2007, respectively, as well as related tax benefits of $3.8 million and $3.7 million, respectively. Stock-based compensation expense of $15.8 million and $15.0 million was recognized in earnings for the six months ended December 31, 2008 and 2007, respectively, as well as related tax benefits of $5.9 million and $5.9 million, respectively. As of December 31, 2008, the total remaining unrecognized compensation cost related to non-vested stock options and restricted stock awards amounted to $6.4 million and $29.5 million, respectively, which will be amortized over the weighted-average remaining requisite service periods of 3.1 years and 1.7 years, respectively. For stock options issued, the fair value of each stock option was estimated on the date of grant using a binomial option pricing model. The binomial model considers a range of assumptions related to volatility, risk-free interest rate and employee exercise behavior. Expected volatilities utilized in the binomial model are based on a combination of implied market volatilities, historical volatility of the Company’s stock price and other factors. Similarly, the dividend yield is based on historical experience and expected future changes. The risk-free rate is derived from the U.S. Treasury yield curve in effect at the time of grant. The binomial model also incorporates exercise and forfeiture assumptions based on an analysis of historical data. The expected life of the stock option grants is derived from the output of the binomial model and represents the period of time that options granted are expected to be outstanding. The following table presents the assumptions used to determine the fair value of the stock option grant during the three months ended December 31, 2008:   <TABLE cellSpacing=0 cellPadding=0 width="76%" align=center border=0> <TBODY> <TR> <TD width="92%"></TD> <TD vAlign=bottom width="6%"></TD> <TD></TD> <TD></TD> <TD></TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Risk-free rate</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>2.6</TD> <TD vAlign=bottom noWrap>%</TD></TR> <TR> <TD vAlign=top> Dividend yield</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>2.6</TD> <TD vAlign=bottom noWrap>%</TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Weighted-average volatility factor</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>52.8</TD> <TD vAlign=bottom noWrap>%</TD></TR> <TR> <TD vAlign=top> Weighted-average expected life (in years)</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>4.9</TD> <TD vAlign=bottom noWrap> </TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Weighted-average fair value (in dollars)</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>2.89</TD> <TD vAlign=bottom noWrap> </TD></TR></TBODY></TABLE> NOTE 8. STOCK-BASED COMPENSATION The activity related to the Company’s incentive equity awards for the three months ended December 31, 2008 consisted of false false Disclosure of components of a stock option or other award plan under which share-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from share-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from share-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 false 11 NOTE 9. INCOME TAXES 1 us-gaap_IncomeTaxDisclosureTextBlock us-gaap true na duration string Description containing the entire income tax disclosure. Examples include net deferred tax liability or asset recognized in... false false false false false false false false false 1 false false 0 0 NOTE 9. INCOME TAXES The Company’s effective tax rates for the three and six months ended December 31, 2008 were 38.5% and 38.7%, respectively, compared to 38.9% and 39.0% for the three and six months ended December 31, 2007, respectively. The decreases in the effective tax rates were attributable to lower enacted tax rates in certain U.S. state and international tax jurisdictions for the six months ended December 31, 2008. NOTE 9. INCOME TAXES The Company’s effective tax rates for the three and six months ended December 31, 2008 were 38.5% and 38.7%, respectively, compared false false Description containing the entire income tax disclosure. Examples include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph (h) -Article 4 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 false 12 NOTE 10. CONTRACTUAL COMMITMENTS, CONTINGENCIES AND OFF-BALANCE SHEET ARRANGEMENTS 1 us-gaap_CommitmentsAndContingenciesDisclosureTextBlock us-gaap true na duration string Includes disclosure of commitments and contingencies. This element may be used as a single block of text to encapsulate the... false false false false false false false false false 1 false false 0 0 NOTE 10. CONTRACTUAL COMMITMENTS, CONTINGENCIES AND OFF-BALANCE SHEET ARRANGEMENTS In the normal course of business, the Company is subject to various claims and litigation. While the outcome of any claim or litigation is inherently unpredictable, the Company believes that the ultimate resolution of these matters will not, individually or in the aggregate, result in a material adverse impact on its financial condition, results of operations or cash flows. It is not the Company’s business practice to enter into off-balance sheet arrangements. However, the Company is exposed to market risk from changes in foreign currency exchange rates that could impact its financial position, results of operations, and cash flows. The Company manages its exposure to these market risks through its regular operating and financing activities and, when deemed appropriate, through the use of derivative financial instruments. The Company uses derivative financial instruments as risk management tools and not for trading purposes. The Company was not a party to any derivative financial instruments at December 31, 2008 or at June 30, 2008. In the normal course of business, the Company also enters into contracts in which it makes representations and warranties that relate to the performance of the Company’s products and services. The Company does not expect any material losses related to such representations and warranties, or collateral arrangements. In the normal course of business, the securities activities of the Company’s Clearing and Outsourcing Solutions business primarily involve executions, settlement, and financing of various securities transactions for a nationwide retail and institutional, customer and non-customer client base, introduced by its correspondent broker-dealers. These activities may expose the Company to risk in the event customers, other broker-dealers, banks, clearing organizations, or depositories are unable to fulfill contractual obligations. For transactions in which the Company’s Clearing and Outsourcing Solutions segment extends credit to customers and non-customers, the Company seeks to control the risk associated with these activities by requiring customers and non-customers to maintain margin collateral in compliance with various regulatory and internal guidelines. The Company monitors required margin levels daily and, pursuant to such guidelines, requests the deposit of additional collateral or reduces securities positions, when necessary. In addition, the Company’s correspondent broker-dealers may be required to maintain deposits relating to its securities clearance activities. The Company’s Clearing and Outsourcing Solutions segment records customers’ securities transactions on a settlement date basis, which is generally three business days after trade date. The Company is therefore exposed to off-balance sheet risk of loss on unsettled transactions in the event customers and other counterparties are unable to fulfill contractual obligations. The Company may be exposed to a risk of loss not reflected in the Condensed Consolidated Balance Sheets for securities sold, not yet purchased, should the value of such securities rise. In addition, the securities lending activities of the Company’s Clearing and Outsourcing Solutions segment requires the Company to pledge securities as collateral. In the event a counterparty is unable to meet its contractual obligation, the Company may be exposed to off-balance sheet risk of acquiring securities at prevailing market prices. The Company monitors the credit standing of counterparties with whom it conducts business. Risk is further controlled by monitoring the market value of securities pledged on a daily basis and by requiring adjustments of collateral level in the event of excess market exposure or instituting securities buy-in procedures when required. The Company also provides guarantees to securities clearinghouses and exchanges. Under the standard membership agreement, members are required to guarantee the performance of the other members. Under the agreements, if another member becomes unable to satisfy its obligations to the clearinghouse, the other members would be required to meet any shortfalls. The Company’s liability under these arrangements is not quantifiable and could exceed the cash and securities it has posted as collateral. However, the potential for the Company to be required to make payments under these arrangements is remote. Accordingly, no contingent liability is carried on the Condensed Consolidated Balance Sheets for these transactions. NOTE 10. CONTRACTUAL COMMITMENTS, CONTINGENCIES AND OFF-BALANCE SHEET ARRANGEMENTS In the normal course of business, the Company is subject to various claims false false Includes disclosure of commitments and contingencies. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 14 -Paragraph 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 9, 10, 11, 12 false 13 NOTE 11. COMPREHENSIVE INCOME 1 us-gaap_ComprehensiveIncomeNoteTextBlock us-gaap true na duration string This label may include the following: 1) the amount of income tax expense or benefit allocated to each component of other... false false false false false false false false false 1 false false 0 0 NOTE 11. COMPREHENSIVE INCOME Comprehensive income consisted of the following:   <TABLE cellSpacing=0 cellPadding=0 width="100%" align=center border=0> <TBODY> <TR> <TD width="80%"></TD> <TD vAlign=bottom width="2%"></TD> <TD></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="2%"></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="2%"></TD> <TD></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="2%"></TD> <TD></TD> <TD></TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=6>Three months ended December 31,</TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=6>Six months ended December 31,</TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2008</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2007</TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2008</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2007</TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Net earnings</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>29.9</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>28.9</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>65.5</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>64.9</TD></TR> <TR> <TD vAlign=top> Foreign currency translation adjustments</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(23.8</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>6.0</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(33.8</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>7.6</TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Comprehensive income</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>6.1</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>34.9</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>31.7</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>72.5</TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD></TR></TBODY></TABLE> NOTE 11. COMPREHENSIVE INCOME Comprehensive income consisted of the following: false false This label may include the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains and losses on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains and losses on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains and losses on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain or loss and net prior service cost or credit for pension plans and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 14-26 false 14 NOTE 12. INTERIM FINANCIAL DATA BY SEGMENT 1 us-gaap_SegmentReportingDisclosureTextBlock us-gaap true na duration string This element may be used to capture the complete disclosure of reporting segments including data and tables. Reportable... false false false false false false false false false 1 false false 0 0 NOTE 12. INTERIM FINANCIAL DATA BY SEGMENT Investor Communication Solutions, Securities Processing Solutions and Clearing and Outsourcing Solutions are the Company’s reportable segments. The primary components of “Other” are the elimination of intersegment revenues and profits as well as certain unallocated expenses. Foreign currency exchange is a reconciling item between the actual foreign currency exchange rates and fiscal year 2009 budgeted foreign currency exchange rates. Certain corporate expenses, as well as certain centrally managed expenses, are allocated based upon budgeted amounts. Because the Company compensates the management of its various businesses on, among other factors, segment earnings, the Company may elect to record certain segment-related expense items of an unusual or non-recurring nature in Other rather than reflect such items in segment profit. Segment results:   <TABLE cellSpacing=0 cellPadding=0 width="100%" align=center border=0> <TBODY> <TR> <TD width="76%"></TD> <TD vAlign=bottom width="2%"></TD> <TD></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="2%"></TD> <TD></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="2%"></TD> <TD></TD> <TD></TD> <TD></TD> <TD vAlign=bottom width="2%"></TD> <TD></TD> <TD></TD> <TD></TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=14>Net Revenues</TD> <TD vAlign=bottom> </TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=6>Three months ended December 31,</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=6>Six months ended December 31,</TD> <TD vAlign=bottom> </TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2008</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2007</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2008</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2007</TD> <TD vAlign=bottom> </TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Investor Communication Solutions</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>295.5</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>303.2</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>609.3</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>602.3</TD> <TD vAlign=bottom noWrap> </TD></TR> <TR> <TD vAlign=top> Securities Processing Solutions</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>139.4</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>127.6</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>272.6</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>252.0</TD> <TD vAlign=bottom noWrap> </TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Clearing and Outsourcing Solutions</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>28.7</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>24.7</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>51.9</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>49.4</TD> <TD vAlign=bottom noWrap> </TD></TR> <TR> <TD vAlign=top> Other</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>0.2</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>5.2</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>0.4</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>7.6</TD> <TD vAlign=bottom noWrap> </TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Foreign currency exchange</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(4.6</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>4.4</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(2.6</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>5.0</TD> <TD vAlign=bottom noWrap> </TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD></TR> <TR> <TD vAlign=top> Total</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>459.2</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>465.1</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>931.6</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>916.3</TD> <TD vAlign=bottom noWrap> </TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 3px double" vAlign=bottom> </TD> <TD> </TD></TR> <TR> <TD height=16></TD> <TD colSpan=16 height=16></TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=14>Earnings before Income Taxes</TD> <TD vAlign=bottom> </TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=6>Three months ended December 31,</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap align=middle colSpan=6>Six months ended December 31,</TD> <TD vAlign=bottom> </TD></TR> <TR> <TD vAlign=bottom> </TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2008</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2007</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2008</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=middle colSpan=2>2007</TD> <TD vAlign=bottom> </TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Investor Communication Solutions</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>19.8</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>27.2</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>43.1</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>57.0</TD> <TD vAlign=bottom noWrap> </TD></TR> <TR> <TD vAlign=top> Securities Processing Solutions</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>40.1</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>35.0</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>77.5</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>73.8</TD> <TD vAlign=bottom noWrap> </TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Clearing and Outsourcing Solutions</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(1.7</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(1.6</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(4.8</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(3.6</TD> <TD vAlign=bottom noWrap>)</TD></TR> <TR> <TD vAlign=top> Other</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(8.5</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(15.2</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(9.2</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(23.0</TD> <TD vAlign=bottom noWrap>)</TD></TR> <TR bgColor=#cceeff> <TD vAlign=top> Foreign currency exchange</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>(1.1</TD> <TD vAlign=bottom noWrap>)</TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>1.9</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>0.2</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom align=right>2.2</TD> <TD vAlign=bottom noWrap> </TD></TR> <TR style="FONT-SIZE: 1px"> <TD vAlign=bottom></TD> <TD vAlign=bottom>  </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD> <TD vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD style="BORDER-TOP: #000000 1px solid" vAlign=bottom> </TD> <TD> </TD></TR> <TR> <TD vAlign=top> Total</TD> <TD vAlign=bottom>  </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>48.6</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>47.3</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>106.8</TD> <TD vAlign=bottom noWrap> </TD> <TD vAlign=bottom> </TD> <TD vAlign=bottom>$</TD> <TD vAlign=bottom align=right>106.</TD></TR></TBODY></TABLE> NOTE 12. INTERIM FINANCIAL DATA BY SEGMENT Investor Communication Solutions, Securities Processing Solutions and Clearing and Outsourcing Solutions are the false false This element may be used to capture the complete disclosure of reporting segments including data and tables. Reportable segments include those that that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10% or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 false false 1 13 false UnKnown UnKnown UnKnown false true