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SEC Filings

10-Q
FIRST DATA CORP filed this Form 10-Q on 07/30/2018
Entire Document
 
FIRST DATA CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)


The following tables present the impact of adopting the New Revenue Standard on the Company’s unaudited consolidated financial statements for the three and six months ended June 30, 2018:

 
 
Three months ended June 30, 2018
(in millions, except per share amounts)
 
As Reported
 
Adjustments
 
Balances Without Adoption of ASC 606
Revenues:
 
 
 
 
 
 
Revenues excluding reimbursable items
 
$
2,244

 
$
(42
)
 
$
2,202

   Reimbursable items
 
204

 
903

 
1,107

Total revenues
 
2,448

 
861

 
3,309

Expenses:
 
 
 
 
 
 
Total expenses excluding reimbursable items
 
1,706

 
(27
)
 
1,679

Reimbursable items
 
204

 
903

 
1,107

Total expenses
 
1,910

 
876

 
2,786

Operating profit
 
538

 
(15
)
 
523

Interest expense, net
 
(234
)
 

 
(234
)
Loss on debt extinguishment
 
(1
)
 

 
(1
)
Other income
 
2

 

 
2

Income before income taxes and equity earnings in affiliates
 
305

 
(15
)
 
290

Income tax (benefit)
 
(37
)
 
(4
)
 
(41
)
Equity earnings in affiliates
 
60

 

 
60

Net income
 
402

 
(11
)
 
391

Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest
 
61

 

 
61

Net income attributable to First Data Corporation
 
$
341

 
$
(11
)
 
$
330

 
 
 
 
 
 
 
Net income attributable to First Data Corporation per share:
 
 
 
 
 
 
Basic
 
$
0.37

 
$
(0.01
)
 
$
0.36

Diluted
 
$
0.36

 
$
(0.01
)
 
$
0.35



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