Discontinued Operation

12 Months Ended

Dec. 31, 2014

Discontinued Operation

3. Discontinued Operation

On March 14, 2013, the Company sold its club solutions business (“Club Solutions”) for approximately $35 million in cash. The 2013 and 2012 results of operations and cash flows of Club Solutions, which were previously included within the Payments segment, have been reported as discontinued operations in the accompanying consolidated financial statements. Club Solutions revenue was $10 million and $46 million in 2013 and 2012, respectively, and the Company recognized a $4 million loss, net of income taxes, on the sale of the business during 2013.