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Segment Information (Tables)
 3 Months Ended
Mar. 31, 2013
Segment Information  
Schedule of operating segment results

 

 

 

 

Three months ended March 31, 2013

 

(in millions)

 

Retail and
Alliance
Services

 

Financial
Services

 

International

 

All Other
and
Corporate

 

Totals

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

Transaction and processing service fees

 

$

765.5

 

$

320.8

 

$

314.3

 

$

19.3

 

$

1,419.9

 

Product sales and other

 

95.9

 

9.8

 

88.2

 

10.4

 

204.3

 

Equity earnings in affiliates (a) 

 

—

 

—

 

6.1

 

—

 

6.1

 

Total segment reporting revenues

 

$

861.4

 

$

330.6

 

$

408.6

 

$

29.7

 

$

1,630.3

 

Internal revenue

 

$

5.1

 

$

8.1

 

$

2.3

 

$

—

 

$

15.5

 

External revenue

 

856.3

 

322.5

 

406.3

 

29.7

 

1,614.8

 

Depreciation and amortization

 

106.0

 

80.3

 

70.2

 

11.0

 

267.5

 

Segment EBITDA

 

354.2

 

133.1

 

100.4

 

(67.3

)

520.4

 

Other operating expenses and other income (expense) excluding divestitures and other items

 

(6.8

)

(0.4

)

(6.5

)

(4.2

)

(17.9

)

 

 

 

Three months ended March 31, 2012

 

(in millions)

 

Retail and
Alliance
Services

 

Financial
Services

 

International

 

All Other
and
Corporate

 

Totals

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

Transaction and processing service fees

 

$

746.4

 

$

338.1

 

$

309.6

 

$

25.5

 

$

1,419.6

 

Product sales and other

 

100.9

 

7.5

 

86.5

 

10.4

 

205.3

 

Equity earnings in affiliates (a)

 

—

 

—

 

8.8

 

—

 

8.8

 

Total segment reporting revenues

 

$

847.3

 

$

345.6

 

$

404.9

 

$

35.9

 

$

1,633.7

 

Internal revenue

 

$

4.4

 

$

7.8

 

$

2.1

 

$

—

 

$

14.3

 

External revenue

 

842.9

 

337.8

 

402.8

 

35.9

 

1,619.4

 

Depreciation and amortization

 

136.6

 

89.9

 

73.6

 

12.9

 

313.0

 

Segment EBITDA

 

352.0

 

157.4

 

95.4

 

(54.1

)

550.7

 

Other operating expenses and other income (expense) excluding divestitures

 

(10.6

)

—

 

(13.2

)

11.9

 

(11.9

)

 
Schedule of reconciliation of reportable segment amounts to the consolidated balances

 

 

 

 

Three months ended
March 31,

 

(in millions)

 

2013

 

2012

 

Segment Revenues:

 

 

 

 

 

Total reported segments

 

$

1,600.6

 

$

1,597.8

 

All Other and Corporate

 

29.7

 

35.9

 

Adjustments to reconcile to Adjusted revenue:

 

 

 

 

 

Official check and money order revenues (b)

 

(1.7

)

(4.0

)

Eliminations of intersegment revenues

 

(15.5

)

(14.3

)

Adjusted revenue

 

1,613.1

 

1,615.4

 

Adjustments to reconcile to Consolidated revenues:

 

 

 

 

 

Adjustments for non-wholly-owned entities (c) 

 

15.5

 

21.1

 

Official check and money order revenues (b)

 

1.7

 

4.0

 

ISO commission expense

 

115.8

 

116.2

 

Reimbursable debit network fees, postage and other

 

844.8

 

807.3

 

Consolidated revenues

 

$

2,590.9

 

$

2,564.0

 

Segment EBITDA:

 

 

 

 

 

Total reported segments

 

$

587.7

 

$

604.8

 

All Other and Corporate

 

(67.3

)

(54.1

)

Adjusted EBITDA

 

520.4

 

550.7

 

Adjustments to reconcile to “Net loss attributable to First Data Corporation”:

 

 

 

 

 

Adjustments for non-wholly-owned entities (c)

 

3.1

 

(3.7

)

Depreciation and amortization

 

(272.2

)

(309.1

)

Interest expense

 

(469.0

)

(461.1

)

Interest income

 

2.7

 

2.5

 

Other items (d)

 

(22.0

)

(14.0

)

Income tax (expense) benefit

 

(61.6

)

108.2

 

Stock-based compensation

 

(9.2

)

(3.6

)

Official check and money order EBITDA (b)

 

1.3

 

1.7

 

Costs of alliance conversions

 

(22.6

)

(11.5

)

KKR related items

 

(8.1

)

(8.4

)

Debt issuance costs

 

(0.2

)

(4.2

)

Net loss attributable to First Data Corporation

 

$

(337.4

)

$

(152.5

)

 

 

(a)                  Excludes equity losses that were recorded in expense and the amortization related to the excess of the investment balance over the Company’s proportionate share of the investee’s net book value for the International segment.

(b)                 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.

(c)                  Represents the net adjustment to reflect First Data’s proportionate share of alliance revenue and EBITDA within the Retail and Alliance Services segment, equity earnings in affiliates included in International segment revenue and amortization related to equity method investments not included in segment EBITDA.

(d)                  Includes restructuring, certain retention bonuses, litigation and regulatory settlements, and impairments as applicable to the periods presented and “Other income (expense)” as presented in the Consolidated Statements of Operations.
Schedule of segment assets

 

 

(in millions)

 

As of March 31,
2013

 

As of December 31,
2012

 

Assets:

 

 

 

 

 

Retail and Alliance Services

 

$

32,395.5

 

$

25,885.7

 

Financial Services

 

4,314.0

 

4,477.1

 

International

 

5,743.8

 

5,305.7

 

All Other and Corporate

 

2,055.3

 

2,230.5

 

Consolidated

 

$

44,508.6

 

$

37,899.0

 

 
Schedule of reconciliation of reportable segment depreciation and amortization amounts to the consolidated balances

 

 

 

 

Three months ended
March 31,

 

(in millions)

 

2013

 

2012

 

Depreciation and amortization:

 

 

 

 

 

Total reported segments

 

$

256.5

 

$

300.1

 

All Other and Corporate

 

11.0

 

12.9

 

 

 

267.5

 

313.0

 

Adjustments to reconcile to consolidated depreciation and amortization:

 

 

 

 

 

Adjustments for non-wholly-owned entities

 

24.4

 

26.6

 

Amortization of initial payments for new contracts

 

10.2

 

9.8

 

Total consolidated depreciation and amortization

 

$

302.1

 

$

349.4