Investment in Affiliates

3 Months Ended

Mar. 31, 2016

Equity Method Investments and Joint Ventures [Abstract]

Investment in Affiliates

Investment in Affiliates

Segment results include the Company’s proportionate share of income from affiliates, which consist of unconsolidated investments accounted for under the equity method of accounting. The most significant of these affiliates are related to the Company’s merchant bank alliance programs.

As of March 31, 2016, the Company has an unconsolidated significant subsidiary that is not required to be consolidated, but represents more than 20% of the Company’s pretax loss. Summarized financial information for the affiliate is presented below for the periods presented:

	Three months ended   March 31,
(in millions)	2016		2015
Net operating revenues	$	218	$	211
Operating expenses	96		89
Operating income	$	122	$	122
Net income	$	122	$	122
FDC equity earnings	43		38