				Carrying Value

	2012 Ownership Percentage			December 31, 2012		December 31, 2011
Unconsolidated affiliates:
Boston Financial Data Services, Inc.		50	%	$	189.3	$	179.1
International Financial Data Services, U.K.		50	%		97.3		90.0
International Financial Data Services, L.P.		50	%		68.9		48.6
Unconsolidated real estate affiliates					36.7		38.4
Other unconsolidated affiliates					10.8		14.7

Total				$	403.0	$	370.8

Boston Financial Data Services ("BFDS") is a 50% owned corporate joint venture of the Company and State Street. BFDS combines use of the Company's proprietary applications and customer communications capabilities with the marketing and custodial capabilities of State Street to provide full-service and shared-service shareowner accounting and recordkeeping services to mutual fund companies. BFDS also offers settlement administration services, teleservicing and full-service support for defined contributions plans using DST's TRAC system. In terms of operating revenues, BFDS was the largest customer of the Financial Services Segment during 2011 and 2010 and the second largest in 2012.

International Financial Data Services, U.K. ("IFDS U.K.") is a U.K. joint venture of the Company and State Street. IFDS U.K. provides full, remote and shared processing for U.K. unit trusts and related products. The largest remote unitholder client of IFDS U.K. at December 31, 2012, 2011 and 2010 is Cofunds, Ltd. ("Cofunds"), a mutual fund supermarket. IFDS U.K. has a non-controlling investment interest in Cofunds, which it accounts for on the equity method basis.

International Financial Data Services Limited ("IFDS L.P.") is a U.S. partnership between the Company and State Street. IFDS L.P. owns the following operating joint ventures: IFDS Canada, IFDS Ireland and its wholly-owned subsidiary, Percana, and IFDS Luxembourg. IFDS L.P. provides shareowner accounting and recordkeeping to international markets.

Pershing Road Development Company, LLC is a limited special purpose real estate joint venture of the Company and an undisclosed third party. The real estate joint venture leases approximately 1.1 million square feet of office space for the U.S. government. This entity is included with other unconsolidated affiliates (primarily real-estate joint ventures) in other in the table below.

Equity in earnings (losses) of unconsolidated affiliates, net of income taxes provided by the unconsolidated affiliates follows (in millions):

	Year Ended December 31,

	2012		2011			2010
Boston Financial Data Services, Inc.	$	10.2	$	9.9		$	14.8
International Financial Data Services, U.K.		3.0		12.0			15.9
International Financial Data Services, L.P.		18.9		3.7			6.2
Other unconsolidated affiliates		0.1		(3.9	)		(0.5	)

Total	$	32.2	$	21.7		$	36.4

Certain condensed financial information of DST's unconsolidated affiliates is as follows (in millions):

	Year Ended December 31,

	2012		2011		2010
Revenues	$	908.1	$	899.3	$	912.8
Costs and expenses		846.1		863.4		835.9
Net income		62.0		35.9		76.9
Current assets		816.5		669.3		931.9
Noncurrent assets		772.8		789.7		780.4
Current liabilities		392.9		286.2		519.0
Noncurrent liabilities		468.9		516.4		507.4
Partners' and stockholders' equity		727.5		656.4		685.9

The following table summarizes amounts and transactions with the Company's related party unconsolidated affiliates (in millions):

	Year Ended December 31,

	2012			2011			2010
DST's operating revenues from unconsolidated affiliates	$	153.4		$	162.0		$	169.0

Amounts paid by DST to unconsolidated affiliates for products, services and leases	$	21.5		$	11.2		$	7.2

Amounts advanced (amounts received) by DST to (from) unconsolidated affiliates	$	(5.5	)	$	(6.3	)	$	(2.6	)

Net proceeds received by DST from unconsolidated affiliates	$	6.4		$	16.1		$	3.8

	December 31,

	2012		2011
Amounts receivable to DST from advances to unconsolidated affiliates	$	11.4	$	12.2
Trade accounts receivable to DST from unconsolidated affiliates		17.1		17.0

Amounts receivable to DST from unconsolidated affiliates	$	28.5	$	29.2

Amounts payable by DST to unconsolidated affiliates*	$	2.2	$	5.3

Deferred revenue by DST from unconsolidated affiliates**	$		$	40.0

*: Excludes amounts owed under or activity related to the BFDS promissory note and IFDS, U.K. promissory note.
**: In December 2011, BFDS prepaid a portion of its 2012 DST processing services, in the amount of $40.0 million, in exchange for a discount on 2012 services.

Goodwill and other intangible assets recorded in connection with the acquisition of an unconsolidated affiliate is classified as part of the Company's investments in unconsolidated affiliates and represents the difference between the Company's carrying value of the unconsolidated affiliate and its pro-rata share of the unconsolidated affiliates' net tangible assets. For December 31, 2012 and 2011 goodwill and intangible assets (net of accumulated depreciation) were $4.8 million and $7.2 million, respectively.

In 2011, the Company acquired certain customer relationship assets (full-service client processing contracts) from BFDS. The Company recorded an intangible asset of $10.7 million, which will be amortized over an estimated life of approximately ten years, and a payable to BFDS, which has been classified as debt and which is being paid on an installment basis over five years. At December 31, 2012, the principal amount outstanding to BFDS for this acquisition was $7.9 million. In December 2011, BFDS prepaid a portion of its 2012 DST processing services, the amount of $40.0 million, in exchange for a discount on 2012 services. As of December 31, 2012, the discount had been fully utilized by BFDS.

During 2011, the Company licensed software from Percana Limited, a subsidiary of International Financial Data Services Ireland for approximately $2.0 million. The Company's software license was impaired in 2012.