XML 81 R21.htm IDEA: XBRL DOCUMENT
v3.20.1

Accumulated Other Comprehensive Loss | 3 Months Ended
--- | ---
Mar. 31, 2020
Equity [Abstract] |
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss by component, net of income taxes, consisted of the following:
| Three Months Ended March 31, 2020
(In millions) | Cash Flow Hedges |  | Foreign Currency Translation |  | Pension Plans |  | Total
Balance at December 31, 2019 | $ | (141 | ) |  | $ | (33 | ) |  | $ | (6 | ) |  | $ | (180 | )
Other comprehensive loss before reclassifications | (8 | ) |  | (626 | ) |  | — |  |  | (634 | )
Amounts reclassified from accumulated other comprehensive loss | 3 |  |  | — |  |  | — |  |  | 3 |
Net current-period other comprehensive loss | (5 | ) |  | (626 | ) |  | — |  |  | (631 | )
Balance at March 31, 2020 | $ | (146 | ) |  | $ | (659 | ) |  | $ | (6 | ) |  | $ | (811 | )
| Three Months Ended March 31, 2019
(In millions) | Cash Flow Hedges |  | Foreign Currency Translation |  | Pension Plans |  | Total
Balance at December 31, 2018 | $ | (16 | ) |  | $ | (49 | ) |  | $ | (2 | ) |  | $ | (67 | )
Other comprehensive (loss) income before reclassifications | (23 | ) |  | 4 |  |  | — |  |  | (19 | )
Amounts reclassified from accumulated other comprehensive loss | 1 |  |  | — |  |  | — |  |  | 1 |
Net current-period other comprehensive (loss) income | (22 | ) |  | 4 |  |  | — |  |  | (18 | )
Balance at March 31, 2019 | $ | (38 | ) |  | $ | (45 | ) |  | $ | (2 | ) |  | $ | (85 | )
The Company has entered into forward exchange contracts, which have been designated as cash flow hedges, to hedge foreign currency exposure to the Indian Rupee. At March 31, 2020, the notional amount of these derivatives was $227 million and the fair value totaling $8 million is reported within accounts payable and accrued expenses in the Company’s consolidated balance sheet. At December 31, 2019, the notional amount of these derivatives was $178 million and the fair value totaling $4 million is reported within prepaid expenses and other current assets in the Company’s consolidated balance sheet. Based on the amounts recorded in accumulated other comprehensive loss at March 31, 2020, the Company estimates that it will recognize losses of approximately $6 million in cost of processing and services during the next twelve months as foreign exchange forward contracts settle. In March 2019, the Company entered into treasury lock agreements (“Treasury Locks”), designated as cash flow hedges, in the aggregate notional amount of $5 billion to manage exposure to fluctuations in benchmark interest rates in anticipation of the issuance of fixed rate debt in connection with the refinancing of certain indebtedness of First Data and its subsidiaries. In June 2019, concurrent with the issuance of U.S dollar-denominated senior notes, the Treasury Locks were settled resulting in a payment of $183 million recorded in accumulated other comprehensive loss, net of income taxes, that will be amortized to earnings over the terms of the originally forecasted interest payments. Based on the amounts recorded in accumulated other comprehensive loss at March 31, 2020, the Company estimates that it will recognize approximately $21 million in interest expense, net during the next twelve months related to settled interest rate hedge contracts. To reduce exposure to changes in the value of the Company’s net investments in certain of its foreign currency-denominated subsidiaries due to changes in foreign currency exchange rates, the Company uses its foreign currency-denominated debt as an economic hedge of its net investments in such foreign currency-denominated subsidiaries. In conjunction with the acquisition of First Data, the Company designated its Euro- and British Pound-denominated senior notes as net investment hedges to hedge a portion of its net investment in certain subsidiaries whose functional currencies are the Euro and the British Pound. Accordingly, foreign currency transaction gains or losses on the qualifying net investment hedge instruments are recorded as foreign currency translation within other comprehensive loss in the consolidated statement of comprehensive income and will remain in accumulated other comprehensive loss on the consolidated balance sheets until the sale or complete liquidation of the underlying foreign subsidiaries. The Company recorded a foreign currency translation gain, net of tax, of $55 million in accumulated other comprehensive loss during the three months ended March 31, 2020 from the Euro- and British Pound-denominated senior notes.

X
- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 + Details
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration