Unconsolidated Affiliates

Unconsolidated affiliates are as follows (in millions):



		Carrying Value
	2013 Ownership Percentage	December 31, 2013		December 31, 2012
Unconsolidated affiliates:
Boston Financial Data Services, Inc.	50%	$	72.5	$	189.3
International Financial Data Services (U.K. and L.P.)	50%	179.0		166.2
Unconsolidated real estate affiliates		33.9		36.7
Other unconsolidated affiliates		2.7		10.8
Total		$	288.1	$	403.0

Boston Financial Data Services (“BFDS”) is a 50% owned corporate joint venture of the Company and State Street. BFDS combines use of the Company's proprietary applications and customer communications capabilities with the marketing and custodial capabilities of State Street to provide full-service and shared-service shareowner accounting and recordkeeping services to mutual fund companies. BFDS also offers settlement administration services, teleservicing and full-service support for defined contribution plans using DST's TRAC system. In terms of operating revenues, BFDS was the largest customer of the Financial Services Segment during 2011 and the second largest in 2012 and 2013. During the year ended December 31, 2013, DST received a $125.0 million dividend from Boston Financial Data Services, Inc. which resulted in a reduction of the carrying value of DST's investment in BFDS.

International Financial Data Services, U.K. (“IFDS U.K.”) and International Financial Data Services Limited (“IFDS L.P.”), collectively referred to as "IFDS", are joint ventures of the Company and State Street. IFDS U.K. provides full, remote and shared processing for U.K. unit trusts and related products. The largest remote unitholder client of IFDS U.K. at December 31, 2013, 2012 and 2011 is Cofunds, Ltd. (“Cofunds”), a mutual fund supermarket. During 2013, IFDS U.K. sold its non-controlling investment interest in Cofunds, which it accounted for on the equity method basis. IFDS L.P. owns the following operating joint ventures: IFDS Canada, IFDS Ireland and its wholly-owned subsidiary, Percana, and IFDS Luxembourg. IFDS L.P. provides shareowner accounting and recordkeeping to international markets.

Pershing Road Development Company, LLC is a limited special purpose real estate joint venture of the Company and an undisclosed third party. The real estate joint venture leases approximately 1.1 million square feet of office space to the U.S. government. This entity is included with other unconsolidated affiliates (primarily real-estate joint ventures) in other in the table below.

Equity in earnings (losses) of unconsolidated affiliates, is as follows (in millions):



	Year Ended December 31,
	2013		2012		2011
Boston Financial Data Services, Inc.	$	8.2	$	10.2	$	9.9
International Financial Data Services (U.K. and L.P.)	9.7		21.9		15.7
Other unconsolidated affiliates	5.1		0.1		(3.9		)
Total	$	23.0	$	32.2	$	21.7

Certain condensed financial information of DST's unconsolidated affiliates is presented below (in millions):



	Year Ended December 31,
Income Statement Data:	2013		2012		2011
Revenues	$	1,053.4	$	908.1	$	899.3
Costs and expenses	1,008.1		846.1		863.4
Net income	45.4		62.0		35.9



	December 31,
Balance Sheet Data:	2013		2012
Current assets	$	461.0	$	816.5
Noncurrent assets	661.3		772.8
Current liabilities	203.3		392.9
Noncurrent liabilities	419.0		468.9
Partners' and stockholders' equity	500.0		727.5

The following tables summarize related party transactions and balances outstanding with the Company's unconsolidated affiliates (in millions):



	Year Ended December 31,
	2013		2012		2011
DST's operating revenues from unconsolidated affiliates	$	170.5	$	171.5	$	188.2
Amounts paid by DST to unconsolidated affiliates for products, services and leases	22.1		21.5		11.2
Distributions received by DST from unconsolidated affiliates	137.3		6.4		16.1



	December 31,
	2013		2012
Amounts receivable to DST from advances to unconsolidated affiliates	$	10.2	$	11.4
Trade accounts receivable to DST from unconsolidated affiliates	14.6		17.1
Amounts receivable to DST from unconsolidated affiliates	$	24.8	$	28.5

Amounts payable by DST to unconsolidated affiliates*	$	2.9	$	2.2

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*	Excludes amounts owed under or activity related to the BFDS promissory note and IFDS, U.K. promissory note. See additional discussion of promissory notes within Note 10 of these financial statements.

Goodwill and other intangible assets recorded in connection with the acquisition of an unconsolidated affiliate is classified as part of the Company's investments in unconsolidated affiliates and represents the difference between the Company's carrying value of the unconsolidated affiliate and its pro-rata share of the unconsolidated affiliates' net tangible assets. For December 31, 2013 and 2012 goodwill and intangible assets (net of accumulated depreciation) were $3.1 million and $4.8 million, respectively.

In 2011, the Company acquired certain customer relationship assets (full-service client processing contracts) from BFDS. The Company recorded an intangible asset of $10.7 million, which will be amortized over an estimated life of approximately ten years, and a payable to BFDS, which has been classified as debt and which is being paid on an installment basis over five years. At December 31, 2013, the principal amount outstanding to BFDS for this acquisition was $5.8 million.

In December 2011, DST received $40.0 million from BFDS for prepayment of a portion of its 2012 DST processing services in exchange for a discount on the services. As of December 31, 2012, the prepayment had been fully utilized by BFDS.

During 2011, the Company licensed software from Percana Limited, a subsidiary of IFDS Ireland, for approximately $2.0 million. The Company's software license was impaired in 2012.