FDC 2017 Annual Report

FI R S T D A T A C O R P O R A TI O N N O T E S T O T H E C O N S O LI D A T E D FI N A N CI A L S T A T E M E N T S ( C o nti n u e d) 7 7 a c c o u nti n g. T his g ui d a n c e is eff e cti v e f or fis c al y e ars b e gi n ni n g aft er D e c e m b er 1 5, 2 0 1 8 a n d f or i nt eri m p eri o ds t h er ei n, wit h e arl y a d o pti o n p er mitt e d. T h e C o m p a n y will a d o pt t h e n e w g ui d a n c e o n J a n u ar y 1, 2 0 1 8. T h e C o m p a n y d o es n ot e x p e ct t h e a d o pti o n of t his g ui d a n c e t o h a v e a m at eri al i m p a ct o n t h e C o m p a n y’s c o ns oli d at e d fi n a n ci al st at e m e nts. N ot e 2: B o r r o wi n gs As of D e c e m b e r 3 1, (i n milli o ns) 2 0 1 7 2 0 1 6 S h o rt-t e r m b o r r o wi n gs: F or ei g n li n es of cr e dit a n d ot h er arr a n g e m e nts $ 2 0 5 $ 8 4 S e ni or S e c ur e d R e v ol vi n g Cr e dit F a cilit y J u n e 2, 2 0 2 0 at LI B O R pl us 3. 5 0 % or a b as e r at e pl us 2. 5 0 % 2 7 2 — R e c ei v a bl e s e c uriti z e d l o a n at LI B O R pl us 1. 5 % or a b as e r at e e q u al t o t h e hi g h est of (i) t h e a p pli c a bl e l e n d er's pri m e r at e, or (ii) t h e f e d er al f u n ds r at e pl us 0. 5 0 % 6 0 0 1 6 0 U n a m orti z e d d ef err e d fi n a n ci n g c osts (a) ( 3) ( 2) T ot al s h ort-t er m b orr o wi n gs 1, 0 7 4 2 4 2 C u r r e nt p o rti o n of l o n g-t e r m b o r r o wi n gs: S e ni or s e c ur e d t er m l o a n f a cilit y d u e J u n e 2 0 2 0 at LI B O R pl us 1. 7 5 % or a b as e r at e pl us 0. 7 5 % 7 8 — Ot h er arr a n g e m e nts a n d c a pit al l e as e o bli g ati o ns 1 1 9 1 1 6 T ot al c urr e nt p orti o n of l o n g-t er m b orr o wi n gs 1 9 7 1 1 6 T ot al s h ort-t er m a n d c urr e nt p orti o n of l o n g-t er m b orr o wi n gs 1, 2 7 1 3 5 8 L o n g-t e r m b o r r o wi n gs: S e ni or s e c ur e d t er m l o a n f a cilit y d u e A pril 2 0 2 4 at LI B O R pl us 2. 2 5 % or a b as e r at e pl us 1. 2 5 % 3, 8 9 2 — S e ni or s e c ur e d t er m l o a n f a cilit y d u e J ul y 2 0 2 2 at LI B O R pl us 2. 2 5 % or a b as e r at e pl us 1. 2 5 % 3, 7 5 8 — S e ni or s e c ur e d t er m l o a n f a cilit y d u e J u n e 2 0 2 0 at LI B O R pl us 1. 7 5 % or a b as e r at e pl us 0. 7 5 % 1, 4 0 4 — S e ni or s e c ur e d t er m l o a n f a cilit y d u e M ar c h 2 0 2 1 at LI B O R a n d e ur o LI B O R pl us 3. 0 % or, s ol el y wit h r es p e ct t o U. S. d oll ar- d e n o mi n at e d t er m l o a ns, a b as e r at e pl us 2. 0 % — 4, 3 7 9 S e ni or s e c ur e d t er m l o a n f a cilit y d u e J ul y 2 0 2 2 at LI B O R pl us 3. 0 % or a b as e r at e pl us 2. 0 %, or s ol el y wit h r es p e ct t o e ur o- d e n o mi n at e d t er m l o a ns, e ur o LI B O R pl us 3. 2 5 % — 3, 5 8 3 6. 7 5 % S e ni or s e c ur e d first li e n n ot es d u e 2 0 2 0 — 1, 3 9 8 5. 3 7 5 % S e ni or s e c ur e d first li e n n ot es d u e 2 0 2 3 1, 2 1 0 1, 2 1 0 5. 0 % S e ni or s e c ur e d first li e n n ot es d u e 2 0 2 4 1, 9 0 0 1, 9 0 0 5. 7 5 % S e ni or s e c ur e d s e c o n d li e n n ot es d u e 2 0 2 4 2, 2 0 0 2, 2 0 0 7. 0 % S e ni or u ns e c ur e d n ot es d u e 2 0 2 3 3, 4 0 0 3, 4 0 0 U n a m orti z e d dis c o u nt a n d u n a m orti z e d d ef err e d fi n a n ci n g c osts (a) ( 1 2 3) ( 1 5 4) Ot h er arr a n g e m e nts a n d c a pit al l e as e o bli g ati o ns 2 8 6 2 1 5 T ot al l o n g-t er m b orr o wi n gs ( b) 1 7, 9 2 7 1 8, 1 3 1 T ot al b orr o wi n gs (c) $ 1 9, 1 9 8 $ 1 8, 4 8 9 ( a) U n a m orti z e d d ef err e d fi n a n ci n g c osts a n d c ert ai n l e n d ers' f e es ass o ci at e d wit h d e bt tr a ns a cti o ns w er e c a pit ali z e d as dis c o unts ar e a m orti z e d o n a str ai g ht- li n e b asis, w hi c h a p pr o xi m at es t h e eff e cti v e i nt er est m et h o d, o v er t h e r e m ai ni n g t er m of t h e r es p e cti v e d e bt. ( b) As of D e c e m b er 3 1, 2 0 1 7 a n d 2 0 1 6, t h e f air v al u e of t h e C o m p a n y's l o n g-t er m b orr o wi n gs w as $ 1 8. 2 billi o n a n d $ 1 8. 8 billi o n, r es p e cti v el y. T h e esti m at e d f air v al u e of t h e C o m p a n y's l o n g-t er m b orr o wi n gs w as pri m aril y b as e d o n m ar k et tr a di n g pri c es a n d is c o nsi d er e d t o b e a L e v el 2 m e as ur e m e nt. ( c) T h e eff e cti v e i nt er est r at e is n ot s u bst a nti all y diff er e nt t h a n t h e c o u p o n r at e o n a n y of t h e C o m p a n y's d e bt tr a n c h es.