First Data Amends 10-K Annual Report to Include Chase Paymentech Results
First Data Corp. has amended its 10-K annual report filing with the SEC to include the financial statements of Chase Paymentech. Chase Payment is 51% owned by JP Morgan Chase and 49% owned by First Data Corp. First Data made the updated 10-K filing under an SEC rule requiring it as a result of FDC’s equity earnings in Chase Paymentech having exceeded 20% of FDC’s consolidated income from continuing operations before income taxes for the year ended December 31, 2006. The filing reports Chase Paymentech's 2006 revenues as $1.2 billion (up 49% from 2005) with net income of $476 million before some miscellaneous adjustments.
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