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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenue:        
Processing and services $ 1,199 $ 1,160 $ 3,563 $ 3,441
Product 201 220 617 633
Total revenue 1,400 1,380 4,180 4,074
Expenses:        
Cost of processing and services 572 551 1,715 1,651
Cost of product 174 186 531 547
Selling, general and administrative 284 274 837 806
Gain on sale of business 0 0 (10) 0
Total expenses 1,030 1,011 3,073 3,004
Operating income 370 369 1,107 1,070
Interest expense (45) (41) (131) (121)
Interest and investment income (loss), net 0 0 2 (7)
Income before income taxes and income from investment in unconsolidated affiliate 325 328 978 942
Income tax provision (98) (114) (309) (373)
Income from investment in unconsolidated affiliate 5 0 31 146
Net income $ 232 $ 214 $ 700 $ 715
Net income per share – basic (in dollars per share) $ 1.10 $ 0.98 $ 3.30 $ 3.23
Net income per share – diluted (in dollars per share) $ 1.08 $ 0.96 $ 3.23 $ 3.18
Shares used in computing net income per share:        
Basic (in shares) 210.1 219.2 212.1 221.6
Diluted (in shares) 214.5 222.7 216.7 225.2