Text extracted via OCR from the original document. May contain errors from the scanning process.
X- I/A
Table of Contents
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Debt Repurchase
On July 11, 2014. First Data Holdings Inc.. the direct parent company of the Company. completed a $3.5 billion issuance of its common
equity in a private placement. $2.5 billion of the net proceeds were contributed to the Company as a capital contribution and the funds were used to
repurchase a portion of the Company's outstanding 11.75% senior unsecured subordinated notes due 2021, 6.75% senior secured first lien notes
due 2020, 10.625% senior unsecured notes due 2021, and 11.25% senior unsecured notes due 2021.
In connection with these transactions, the Company incurred debt extinguishment costs of $260 million.
Revision of Previously Issued Financial Statements
As discussed in Notc 1, the following tables provide an overview of the impact of the correction of immaterial errors to previously filed
financial statements related to debt modifications and extinguishments. The impacts of these changes have been reflected throughout the
consolidated financial statements.
Consolidated Balance Sheets Information
(In millions, except per share
amounts)
As of December 31,
2014
As of December 31,
2013
As
previously
reported
As
MijtMW
As
previously
reported
As
Adjusted
Other long-term assets
$
915
$
846
$
836
$
774
Total assets
34,269
34.200
35.240
35,178
long-leer borrowings
20,711
20.760
22,557
22,614
Long-term deferred tax liabilities
521
521
553
552
Total liabilities
31,551
31,600
33.478
33,534
Accumulated loss
(9,429)
(9.547)
(8.285)
(8,403)
Total First Data Corporation stockholder's deficit
(452)
(570)
(1,490)
(1,608)
Total equity
2,648
2.530
1.693
1,575
Total liabilities and equity
34,269
34.200
35,240
35.178
Consolidated Statements of Operations Information
Year Ended Ikcember 31,
2014
Year Ended December 31,
2013
Year Ended December 31.
2012
As
previously
reported
As
Ad tasted
As
previously
reported
As
Adjusted
As
previously
reported
As
Adjusted
Loss on debt extinguishment
$
(260)
$
(274)
$
—
$
(79)
$
—
$
(56)
Interest expense
(1.753)
(1,739)
(1.881)
(1,867)
(1,898)
(1,896)
Income tax expense (benefit)
82
82
87
105
(224)
(243)
Loss before income taxes and equity earnings
in affiliates
(403)
(403)
(793)
(858)
(909)
(963)
Net loss
(265)
(265)
(692)
(775)
(527)
(562)
Net loss attributable to First Data Corporation
(458)
(458)
(869)
(952)
(701)
(736)
Comprehensive loss
(616)
(616)
(728)
(811)
(478)
(513)
Comprehensive loss attributable to First Data
Corporation
(798)
(798)
(906)
(989)
(655)
(690)
Net loss per share, basic and diluted
(458,000)
(458,000)
(869.000)
(952,000)
(701,000)
(736,000)
F-32
http/Avuw.sec. gov/Archi vestedear/datatlet3980/00011 9312515334479/d31022ds la.htmill 0/14/2015 9:06:38 AM]
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e)
CONFIDENTIAL
DB-SDNY-0082296
SONY GM_00228480
EFTA01382800