Print Page  |  Close Window

SEC Filings

10-Q
FIRST DATA CORP filed this Form 10-Q on 07/30/2018
Entire Document
 

Cash flows from operating activities

The chart below reconciles the change in operating cash flows for the six months ended June 30, 2017 to June 30, 2018:
Source/(use) (in millions)
 
Six months ended June 30, 2018
Net cash provided by operating activities, previous period
 
$
1,001

Increases in:
 
 
Net income, excluding other operating expenses and other income (expense)(a)
 
98

Depreciation and amortization
 
20

Working capital and other
 
19

Net cash provided by operating activities, end of period
 
$
1,138

(a)
Excludes loss on debt extinguishment, stock-based compensation expense, deferred income tax (expense) benefit, and other non-cash items.
Our operating cash flow is impacted by our level of debt. Approximately $452 million and $453 million in cash interest was paid during the six months ended June 30, 2018 and 2017, respectively.
Refer to "Item 3. Quantitative and Qualitative Disclosures About Market Risk" for a detailed discussion on how a 100 basis point increase in the applicable London Interbank Offered Rate (LIBOR) index on an annualized basis would impact our annual interest expense.
 
The table below represents the working capital change for the six months ended June 30, 2018 compared to the same period in 2017:
 
Six months ended June 30,
Source/(use) (in millions)
2018
 
2017
 
Change
Accounts receivable, current and long-term(a)
$
50

 
$
110

 
$
(60
)
Other assets, current and long-term
(1
)
 
(19
)
 
18

Accounts payable and other liabilities, current and long-term
(139
)
 
(165
)
 
26

Income tax accounts(b)
2

 
(33
)
 
35

Total working capital change
$
(88
)
 
$
(107
)
 
$
19

(a)
Change is related to day shift.
(b)
Change is related to timing of tax payments.

Cash flows from investing activities
The table below summarizes the changes in investing activities for the six months ended June 30, 2018 and 2017:
 
Six months ended June 30,
Source/(use) (in millions)
2018
 
2017
 
Change
Acquisitions(a)
$
(17
)
 
$
(85
)
 
$
68

Capital expenditures(b)
(290
)
 
(256
)
 
(34
)
Other(c)
17

 
100

 
(83
)
Net cash used in investing activities
$
(290
)
 
$
(241
)
 
$
(49
)
(a)
For additional detail about this acquisition, see note 10 "Acquisitions and Dispositions" to our unaudited consolidated financial statements in Part I of this Form 10-Q for additional information.
(b)
Increase in capital expenditures is related to an increase in cash outlays for software and technology.
(c)
Other represents proceeds from maturity of net investment hedges, purchase of equity and cost method investments, and other investing activities.


43