Question-and-Answer Session
Operator
Our first question is from Greg Smith - Merrill Lynch.
Greg Smith - Merrill Lynch
Good morning. Kim, the free cash flow number you said, am I correct that you were saying $1.1 billion for '06?
Kim Patmore
Correct.
Greg Smith - Merrill Lynch
Is that including dividends or excluding dividends?
Kim Patmore
That includes the deduction for dividends.
Greg Smith - Merrill Lynch
Okay. So that's sort of net of about $184 million of dividends for the full year?
Kim Patmore
Correct. And also includes the capital expenditures.
Greg Smith - Merrill Lynch
I think that might be higher than what people were thinking. Anyway, thanks for clearing that up.
Then you talked about buying back $700 million of stock, clearly the free cash flow at least by our estimates will be quite a bit higher in '07. Do you have any anticipated target then for acquisitions for how much you may use on a cash basis in '07 at this point?
Kim Patmore
Well, we really try to do a balance between the two. We have a very robust acquisition pipeline right now. We will balance in 2007 the buyback with the acquisition pipeline as we go through the year along with the investments in the business.
Greg Smith - Merrill Lynch
And would you anticipate if the acquisitions aren't materializing that the buyback could be higher than $700 million?
Kim Patmore
I think that would be reasonable and we just balance that with we've got about a $1.2 billion authorization remaining at this point.
Greg Smith - Merrill Lynch
And just lastly, on the proprietary terminal you're rolling out, the FD-100, is there any target for the number of terminals, and is this something you intend to take internationally?
Ric Duques
There's no target. Clearly some of these terminals, there's some merchants where these terminals aren't appropriate. For right now this is strictly a U.S. effort.
Greg Smith - Merrill Lynch
Okay. Thank you very much.
Operator
Our next question comes from Tien-tsin Huang - JP Morgan.
Tien-tsin Huang - JP Morgan
Thanks. A question on the Financial Institution segment. Should we continue to assume fiscal '06 will be flat year-to-year on revenue?
Ric Duques
Let me understand the question. The revenue is flat?
Tien-tsin Huang - JP Morgan
Year-to-year and full year 2006 in the Financial Institutions segment.
Ric Duques
I would say flat to slightly negative.
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