First Data Corporation. Q4 2007 Earnings Call Transcript

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2008-03-14 13:01:08.0

Tags: First Data Corp.

Question-and-Answer Session

Operator

(Operator Instructions) Our first question comes from Ryder Campbell with Barclays.

Ryder Campbell - Barclays

Yeah, first with respect to the departure of Kim, can you tell us what the rationale is for that if it's personal or if its, is she is going somewhere else or and then secondly with respect to compensation. Can you tell us the kind of the total consideration that you will be receiving upon departure I'm guessing did it change the control provisions in the executive agreement that she has the ability to have kind of un-invested options investor that type of thing. I was hoping if you could give us some clarity on that?

Michael Capellas

Well, let me take the compensation question first. And then we can, we can have Kim comment on it and certainly it would be the best position to speak herself. I'm just going to refer you, okay. I mean every line item the compensation has felt that appreciating detail if and is public event. There is nothing that was in existing contracts before. But the disclosure is quite detailed. So, you can find it there. And by the way I have not memorized it; therefore I will simply direct you there. Kim, I'll let you take the rest of the question.

Kim Patmore

Yes. For me it's a just purely personal. I have been here 16 years date of which I have been as a CFO and it just time for me to do something else that no -- that something else had not been determined yet. And so more to come on that, but it will not be with the competitor of First Data by any means.

Ryder Campbell - Barclays

Okay, thanks. Secondly kind of looking at your operating cash flow I was hoping you could walk us through a little bit, the cash used for accounts receivables and payables specifically it looks like they are both pretty substantially uses during the quarter and I wanted to make sure there is something at not normal going on there.

Kim Patmore

Absolutely, I can walk you through that, particularly in accounts receivables, it's primarily related to some of the acquisitions that we done over the last couple of years internationally. A couple of big things with something we've done with merchants in Germany as well as Australia and some new business in Latin America as well as, just a little bit in Poland with POLCARD acquisition.

 

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