Net Loss Per Share

12 Months Ended

Dec. 31, 2015

Upon the HoldCo Merger, all outstanding shares of FDH's Class A Common Stock, Class B Common Stock, and Series A Voting Participating Convertible Preferred Stock (Series A Preferred Stock) automatically converted to identical shares of the Company's stock. Following the filing of the Company's prospectus with the Securities and Exchange Commission, holders of existing Class B Common Stock and Series A Preferred Stock received Class B Common Stock in the Company. Other than voting rights, this common stock has the same rights as the Class A Common Stock and therefore both are treated as the same class of stock for purposes of the net loss per share calculation.

Diluted net loss per share has been computed to give effect to the impact, if any, of shares issuable upon the assumed exercise of the Company’s common stock equivalents, which consist of outstanding stock options and unvested restricted stock.

For the year ended December 31, 2015, all outstanding options and unvested restricted stock were excluded from the calculation of diluted shares due to these securities being anti-dilutive because of the Company’s net loss attributable to First Data Corporation.

The following table sets forth the computation of the Company's basic and diluted net loss per share:



	Year ended December 31,
(in millions, except share amounts)	2015			2014			2013
Numerator:
Net loss used in computing net loss per share, basic and diluted	$	(1,481	)	$	(458	)	$	(952	)

Denominator:
Shares used in computing net loss per share, basic and diluted (a)	192,263,793			1,000			1,000

Net loss per share, basic and diluted	$	(7.70	)	$	(458,000	)	$	(952,000	)

Anti-dilutive shares excluded from diluted net loss per share	26,752,706			—			—

(a)

2015 weighted-average shares calculated using 1,000 shares outstanding prior to the HoldCo Merger and the filing of the Company's prospectus in October 2015 and the Class A and Class B common stock outstanding after these transactions. 2014 and 2013 weighted-average shares calculated using 1,000 shares outstanding prior to the HoldCo Merger and the filing of the Company's prospectus in October 2015.