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Table of Contents
Segment Results for the Years Ended December 31, 2014, 2013 and 2012
Global Business Solutions segment results
The following table displays total segment revenue and ERITim and Illustrates. on a percentage basis, the impact of foreign currency
fluctuations on revenue and IMITDA growth.
Year ended December 31,
(lunge
Constant Currency
Percent (lunge
2014 vs.
2013 vs.
2014 vs.
2013 vs.
On millions)
2014
2013
2012
2013
2012
2013
2012
Revenues:
Transaction
and
processing
service
fees
$3,250
$3,197
$3,090
2%
3%
3%
4%
Product sales
and other
766
709
744
8%
(5)%
II%
(4)%
Equity
earnings in
affiliates
30
32
36
(6)%
(I I)%
(10)%
(10)%
Segment revenue
$4,046
$3.938
$3,870
3%
2%
4%
2%
Segment El3ITDA $ 1.687
$ 1,644
$ 1.606
3%
2%
4%
3%
Segment margin
42%
42%
41%
—
100 bps
Global Business Solutions Segment revenue increased 3% in 2014 compare) to 2013 driven by growth in our transaction processing
business and strong product sales growth. Total segment revenue growth was partially offset by the impact of a strong U.S. dollar as foreign
currency exchange rate movements negatively impacted total segment revenue growth in 2014 compared to 2013.
Global Business Solutions Segment revenue increased 2% in 2013 compared to 2012 driven by strong growth in our transaction and
processing business, partially offset by declines in product stria and other. Total segment revenue growth was partially offset by the impact of a
strong U.S. dollar as foreign currency exchange rate movements negatively impacted total segment revenue growth in 2013 compared to 2012.
Transaction and processing service fees revenue
The following table displays total transaction and processing service fees revenue by segment region and illustrates, on a percentage
basis, the impact of foreign currency fluctuations on revenue growth.
Year ended December 31.
Percent (lunge
Constant Currency
Percent (lunge
2014 vs.
2013 vs.
2014 vs.
2013 vs.
(In mil0ons)
2014
2013
2012
2013
2012
2013
2012
North America
$ 2.571
$ 2,560
$ 2,496
-%
3%
1%
3%
EMEA
389
359
312
8%
15%
7%
13%
APAC
204
192
206
6%
or%
10%
(3)%
LA1'AM
86
86
76
-%
13%
30%
26%
Total transaction and processing service fees
revenue
$ 3.250
$ 3.197
$ 3,090
2%
3%
3%
4%
Key indicators:
North America merchant transactions (a)
41.453
40,445
38,806
2%
4%
International merchant transactions (b)
6.030
5.338
4.867
13%
10%
(a) North America merchant transactions include acquired Visa and MasterCard credit and signature debit. American Expos and Discover, PIN-
debit, electronic benefits transactions. processed-only. and gateway customer transactions at the POS. North America merchant transactions
reflect 100% of alliance transactions.
(b) International transactions include Visa, MasterCard. and other payment network merchant acquiring transactions for clients outside the United
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