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DOCUMENT AND ENTITY INFORMATION	9 Months Ended
DOCUMENT AND ENTITY INFORMATION	Sep. 30, 2015 shares
Document and Entity Information [Line Items]
Entity Registrant Name	Vantiv, Inc.
Entity Central Index Key	0001533932
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Class A Common Stock
Document and Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)	142,819,809
Class B Common Stock
Document and Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)	43,042,826

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenue:
External customers	$ 795,544	$ 677,073	$ 2,247,484	$ 1,783,494
Related party revenues	20,454	20,036	60,120	59,924
Total revenue	815,998	697,109	2,307,604	1,843,418
Network fees and other costs	385,548	316,592	1,079,043	843,030
Sales and marketing	132,481	111,233	371,461	280,184
Other operating costs	66,563	60,659	211,853	177,782
General and administrative	41,492	45,422	136,395	126,580
Depreciation and amortization	70,638	65,289	206,099	204,176
Income from operations	119,276	97,914	302,753	211,666
Interest expense—net	(27,044)	(28,039)	(78,769)	(52,089)
Non-operating expenses	(8,308)	(6,594)	(23,799)	(34,250)
Income before applicable income taxes	83,924	63,281	200,185	125,327
Income tax expense	24,776	20,436	61,348	38,078
Net income	59,148	42,845	138,837	87,249
Less: Net income attributable to non-controlling interests	(17,656)	(12,859)	(41,820)	(30,536)
Net income attributable to Vantiv, Inc.	$ 41,492	$ 29,986	$ 97,017	$ 56,713
Class A Common Stock
Net income per share attributable to Vantiv, Inc. Class A common stock:
Basic (in dollars per share)	$ 0.29	$ 0.21	$ 0.67	$ 0.40
Diluted (in dollars per share)	$ 0.27	$ 0.20	$ 0.64	$ 0.40
Shares used in computing net income per share of Class A common stock:
Basic (in shares)	145,015,310	144,632,010	145,039,413	141,127,560
Diluted (in shares)	201,899,024	199,698,988	201,483,652	199,074,819

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 59,148	$ 42,845	$ 138,837	$ 87,249
Other comprehensive income, net of tax:
Gain (loss) on cash flow hedges and other	(5,173)	2,835	(12,873)	(2,984)
Comprehensive income	53,975	45,680	125,964	84,265
Less: Comprehensive income attributable to non-controlling interests	(15,975)	(13,788)	(37,658)	(29,368)
Comprehensive income attributable to Vantiv, Inc.	$ 38,000	$ 31,892	$ 88,306	$ 54,897

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 287,558	$ 411,568
Accounts receivable—net	578,842	607,674
Related party receivable	6,253	6,164
Settlement assets	107,171	135,422
Prepaid expenses	34,801	26,906
Other	17,337	27,002
Total current assets	1,031,962	1,214,736
Customer incentives	48,963	39,210
Property, equipment and software—net	293,630	281,715
Intangible assets—net	910,840	1,034,692
Goodwill	3,366,528	3,291,366
Deferred taxes	419,082	429,623
Other assets	39,155	44,741
Total assets	6,110,160	6,336,083
Current liabilities:
Accounts payable and accrued expenses	319,496	299,771
Related party payable	3,904	2,035
Settlement obligations	496,667	501,042
Current portion of note payable to related party	10,353	10,353
Current portion of note payable	106,148	106,148
Current portion of tax receivable agreement obligations to related parties	33,666	22,789
Current portion of tax receivable agreement obligations	61,196	0
Deferred income	7,917	5,480
Current maturities of capital lease obligations	8,592	8,158
Other	13,250	7,557
Total current liabilities	1,061,189	963,333
Long-term liabilities:
Note payable to related party	183,757	191,521
Note payable	2,807,911	3,085,716
Tax receivable agreement obligations to related parties	563,591	597,273
Tax receivable agreement obligations	122,267	152,420
Capital lease obligations	23,271	14,779
Deferred taxes	17,658	24,380
Other	41,585	6,075
Total long-term liabilities	3,760,040	4,072,164
Total liabilities	4,821,229	5,035,497
Commitments and contingencies (See Note 7 - Commitments, Contingencies and Guarantees)
Equity:
Preferred stock, $0.00001 par value; 10,000,000 shares authorized; no shares issued and outstanding	0	0
Paid-in capital	548,986	629,353
Retained earnings	425,375	328,358
Accumulated other comprehensive loss	(12,479)	(3,768)
Treasury stock, at cost; 2,585,869 shares at September 30, 2015 and 2,173,793 shares at December 31, 2014	(67,050)	(50,931)
Total Vantiv, Inc. equity	894,833	903,013
Non-controlling interests	394,098	397,573
Total equity	1,288,931	1,300,586
Total liabilities and equity	6,110,160	6,336,083
Class A Common Stock
Equity:
Class A common stock, $0.00001 par value; 890,000,000 shares authorized; 142,819,809 shares outstanding at September 30, 2015; 145,455,008 shares outstanding at December 31, 2014, Class B common stock, no par value; 100,000,000 shares authorized; 43,042,826 shares issued and outstanding at September 30, 2015 and December 31, 2014	1	1
Class B Common Stock
Equity:
Class A common stock, $0.00001 par value; 890,000,000 shares authorized; 142,819,809 shares outstanding at September 30, 2015; 145,455,008 shares outstanding at December 31, 2014, Class B common stock, no par value; 100,000,000 shares authorized; 43,042,826 shares issued and outstanding at September 30, 2015 and December 31, 2014	$ 0	$ 0

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock, shares (in shares)	2,585,869	2,173,793
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	890,000,000	890,000,000
Common stock, shares outstanding (in shares)	142,819,809	145,455,008
Class B Common Stock
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	43,042,826	43,042,826
Common stock, shares outstanding (in shares)	43,042,826	43,042,826

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating Activities:
Net income	$ 138,837	$ 87,249
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	206,099	169,909
Write-off of intangible asset	0	34,267
Amortization of customer incentives	12,535	8,094
Amortization and write-off of debt issuance costs	6,784	30,416
Share-based compensation expense	23,852	30,797
Excess tax benefit from share-based compensation	(15,797)	(11,845)
Tax receivable agreements non-cash items	21,196	8,311
Change in operating assets and liabilities:
Accounts receivable and related party receivable	28,743	(15,946)
Net settlement assets and obligations	23,876	109,402
Customer incentives	(22,716)	(11,581)
Prepaid and other assets	2,016	(10,321)
Accounts payable and accrued expenses	75,578	34,473
Payable to related party	1,869	733
Other liabilities	3,685	(1,161)
Net cash provided by operating activities	506,557	462,797
Investing Activities:
Purchases of property and equipment	(64,344)	(76,984)
Acquisition of customer portfolios and related assets	(39,312)	(27,399)
Purchase of investments	0	(7,487)
Cash used in acquisitions, net of cash acquired	0	(1,658,694)
Net cash used in investing activities	(103,656)	(1,770,564)
Financing Activities:
Proceeds from issuance of long-term debt	0	3,443,000
Repayment of debt and capital lease obligations	(295,208)	(1,838,906)
Payment of debt issuance cost	0	(38,069)
Proceeds from exercise of Class A common stock options	12,739	2,774
Repurchase of Class A common stock	(161,156)	(34,366)
Repurchase of Class A common stock (to satisfy tax withholding obligations)	(16,119)	(16,699)
Settlement of certain tax receivable agreements	(44,800)	0
Payments under tax receivable agreements	(22,805)	(8,639)
Excess tax benefit from share-based compensation	15,797	11,845
Distributions to non-controlling interests	(12,732)	(13,153)
Decrease in cash overdraft	(2,627)	0
Net cash (used in) provided by financing activities	(526,911)	1,507,787
Net (decrease) increase in cash and cash equivalents	(124,010)	200,020
Cash and cash equivalents—Beginning of period	411,568	171,427
Cash and cash equivalents—End of period	287,558	371,447
Cash Payments:
Interest	73,965	44,611
Income taxes	6,484	18,422
Non-cash Items:
Issuance of tax receivable agreements to related parties	0	109,400
Contingent consideration for issuance of tax receivable agreement	$ 0	$ 137,120

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Treasury Stock	Paid-in Capital	Accumulated Other Comprehensive Income	Retained Earnings	Non-Controlling Interests	Class A Common Stock	Class A Common Stock Common Stock	Class B Common Stock	Class B Common Stock Common Stock
Balance at Dec. 31, 2013	$ 1,176,322	$ (33,130)	$ 597,730	$ 264	$ 203,066	$ 408,391		$ 1		$ 0
Balance (in shares) at Dec. 31, 2013		1,607,000						141,759,000		48,823,000
Increase (Decrease) in Stockholders' Equity
Net income	87,249				56,713	30,536
Stock Issued During Period, Value, Stock Options Exercised	2,774		2,774
Issuance of Class A common stock under employee stock plans, net of forfeitures								225,000
Tax benefit from employee share-based compensation	11,845		11,845
Repurchase of Class A common stock (to satisfy tax withholding obligation)	(16,699)	$ (16,699)
Repurchase of Class A common stock (to satisfy tax withholding obligation) (in shares)		(525,000)						(525,000)
Issuance of Class A common stock and cancellation of Class B common stock in connection with secondary offering								(5,780,000)		(5,780,000)
Stock Repurchased and Retired During Period, Value	(34,366)		(34,366)
Stock Repurchased and Retired During Period, Shares								(1,109,000)
Adjustment to Additional Paid in Capital Tax Receivable Agreements	(17,400)		(17,400)
Gain (loss) on cash flow hedges and other	(2,984)			(1,816)		(1,168)
Formation of joint venture	18,839					18,839
Distributions to non-controlling interests	(13,153)					(13,153)
Share-based compensation	30,797		23,324			7,473
Reallocation of non-controlling interests of Vantiv Holding due to change in ownership			52,834			(52,834)
Balance at Sep. 30, 2014	1,243,224	$ (49,829)	636,741	(1,552)	259,779	398,084		$ 1		$ 0
Balance (in shares) at Sep. 30, 2014		2,132,000						146,130,000	43,042,826	43,043,000
Balance at Dec. 31, 2014	1,300,586	$ (50,931)	629,353	(3,768)	328,358	397,573		$ 1		$ 0
Balance (in shares) at Dec. 31, 2014		2,174,000					145,455,008	145,455,000	43,042,826	43,043,000
Increase (Decrease) in Stockholders' Equity
Net income	138,837				97,017	41,820
Stock Issued During Period, Value, Stock Options Exercised	12,739		12,739
Issuance of Class A common stock under employee stock plans, net of forfeitures								1,353,000
Tax benefit from employee share-based compensation	15,797		15,797
Repurchase of Class A common stock (to satisfy tax withholding obligation)	(16,119)	$ (16,119)
Repurchase of Class A common stock (to satisfy tax withholding obligation) (in shares)		(412,000)						(412,000)
Stock Repurchased and Retired During Period, Value	(161,156)		(161,156)
Stock Repurchased and Retired During Period, Shares								(3,576,000)
Gain (loss) on cash flow hedges and other	(12,873)			(8,711)		(4,162)
Distributions to non-controlling interests	(12,732)					(12,732)
Share-based compensation	23,852		18,411			5,441
Reallocation of non-controlling interests of Vantiv Holding due to change in ownership			33,842			(33,842)
Balance at Sep. 30, 2015	$ 1,288,931	$ (67,050)	$ 548,986	$ (12,479)	$ 425,375	$ 394,098		$ 1		$ 0
Balance (in shares) at Sep. 30, 2015		2,586,000					142,819,809	142,820,000	43,042,826	43,043,000

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of Business

Vantiv, Inc., a Delaware corporation, is a holding company that conducts its operations through its majority-owned subsidiary, Vantiv Holding, LLC ("Vantiv Holding"). Vantiv, Inc. and Vantiv Holding are referred to collectively as the "Company," "Vantiv," "we," "us" or "our," unless the context requires otherwise.

The Company provides electronic payment processing services to merchants and financial institutions throughout the United States of America. The Company markets its services through diverse distribution channels, including national, regional and mid-market sales teams, third-party reseller clients and a telesales operation. The Company also has relationships with a broad range of referral partners that include merchant banks, independent software vendors ("ISVs"), value-added resellers ("VARs"), payment facilitators, independent sales organizations ("ISOs") and trade associations as well as arrangements with core processors.

Segments

The Company’s segments consist of the Merchant Services segment and the Financial Institution Services segment. The Company’s Chief Executive Officer ("CEO"), who is the chief operating decision maker ("CODM"), evaluates the performance and allocates resources based on the operating results of each segment. Below is a summary of each segment:

•

Merchant Services—Provides merchant acquiring and payment processing services to large national merchants, regional and small-to-mid sized businesses. Merchant services are sold to small to large businesses through diverse distribution channels. Merchant Services includes all aspects of card processing including authorization and settlement, customer service, chargeback and retrieval processing and interchange management.

•

Financial Institution Services—Provides card issuer processing, payment network processing, fraud protection, card production, prepaid program management, automated teller machine ("ATM") driving and network gateway and switching services that utilize the Company’s proprietary Jeanie debit payment network to a diverse set of financial institutions, including regional banks, community banks, credit unions and regional personal identification number ("PIN") networks. Financial Institution Services also provides statement production, collections and inbound/outbound call centers for credit transactions, and other services such as credit card portfolio analytics, program strategy and support, fraud and security management and chargeback and dispute services.

Basis of Presentation and Consolidation

The accompanying consolidated financial statements include those of Vantiv, Inc. and all subsidiaries thereof, including its majority-owned subsidiary, Vantiv Holding, LLC. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and should be read in connection with the Company's 2014 audited financial statements and notes thereto included in the Company's Annual Report on Form 10-K. The accompanying consolidated financial statements are unaudited; however, in the opinion of management they include all normal and recurring adjustments necessary for a fair presentation of the Company's financial position, results of operations and cash flows for the periods presented. Results of operations reported for interim periods are not necessarily indicative of results for the entire year. All intercompany balances and transactions have been eliminated.

As of September 30, 2015, Vantiv, Inc. and Fifth Third Bank ("Fifth Third") owned interests in Vantiv Holding of 76.84% and 23.16%, respectively (see Note 6 - Controlling and Non-controlling Interests for changes in non-controlling interests).

The Company accounts for non-controlling interests in accordance with Accounting Standards Codification ("ASC") 810, Consolidation. Non-controlling interests primarily represent Fifth Third's minority share of net income or loss of and equity in Vantiv Holding. Net income attributable to non-controlling interests does not include expenses incurred directly by Vantiv, Inc., including income tax expense attributable to Vantiv, Inc. All of the Company’s non-controlling interests are presented after Vantiv Holding income tax expense in the accompanying consolidated statements of income as "Net income attributable to non-controlling interests." Non-controlling interests are presented as a component of equity in the accompanying consolidated statements of financial position.

Share Repurchase Program

In February 2014, our board of directors authorized a program to repurchase up to $300 million of our Class A common stock. During the three months and nine months ended September 30, 2015, the Company repurchased approximately 3.6 million shares of its Class A common stock for approximately $161.2 million. Subsequent to September 30, 2015, the Company repurchased approximately 870,000 shares for approximately $39.3 million. After these repurchases, the Company has approximately $75 million of share repurchase authority remaining under this authorization. Purchases under the repurchase program are allowed from time to time in the open market, in privately negotiated transactions, or otherwise. The manner, timing, and amount of any purchases are determined by management based on an evaluation of market conditions, stock price, and other factors. The share repurchase program has no expiration date and the Company may discontinue purchases at any time that management determines additional purchases are not warranted.

Sponsorship

In order to provide electronic payment processing services, Visa, MasterCard and other payment networks require sponsorship of non-financial institutions by a member clearing bank. In June 2009, the Company entered into a ten-year agreement with Fifth Third (the "Sponsoring Member") to provide sponsorship services to the Company. The Company also has agreements with certain other banks that provide sponsorship into the card networks.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates

SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES

9 Months Ended

Sep. 30, 2015

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES

Revenue Recognition

The Company has contractual agreements with its clients that set forth the general terms and conditions of the relationship including line item pricing, payment terms and contract duration. Revenues are recognized as earned (i.e., for transaction based fees, when the underlying transaction is processed) in conjunction with ASC 605, Revenue Recognition. ASC 605, Revenue Recognition, establishes guidance as to when revenue is realized or realizable and earned by using the following criteria: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered; (3) the seller’s price is fixed or determinable; and (4) collectibility is reasonably assured.

The Company follows guidance provided in ASC 605-45, Principal Agent Considerations. ASC 605-45, Principal Agent Considerations, which states that whether a company should recognize revenue based on the gross amount billed to a customer or the net amount retained is a matter of judgment that depends on the facts and circumstances of the arrangement and that certain factors should be considered in the evaluation. The Company recognizes processing revenues net of interchange fees, which are assessed to the Company’s merchant customers on all processed transactions. Interchange rates are not controlled by the Company, which effectively acts as a clearing house collecting and remitting interchange fee settlement on behalf of issuing banks, debit networks, credit card associations and its processing customers. All other revenue is reported on a gross basis, as the Company contracts directly with the end customer, assumes the risk of loss and has pricing flexibility.

The Company generates revenue primarily by processing electronic payment transactions. Set forth below is a description of the Company’s revenue by segment.

Merchant Services

The Company’s Merchant Services segment revenue is primarily derived from processing credit and debit card transactions. Merchant Services revenue is primarily comprised of fees charged to businesses, net of interchange fees, for payment processing services, including authorization, capture, clearing, settlement and information reporting of electronic transactions. The fees charged consist of either a percentage of the dollar volume of the transaction or a fixed fee, or both, and are recognized at the time of the transaction. Merchant Services revenue also includes a number of revenue items that are incurred by the Company and are reimbursable as the costs are passed through to and paid by the Company’s clients. These items primarily consist of Visa, MasterCard and other payment network fees. In addition, for sales through ISOs and certain other referral sources in which the Company is the primary party to the contract with the merchant, the Company records the full amount of the fees collected from the merchant as revenue. Merchant Services segment revenue also includes revenue from ancillary services such as fraud management, equipment sales and terminal rent. Merchant Services revenue is recognized as services are performed.

Financial Institution Services

The Company’s Financial Institution Services segment revenues are primarily derived from debit, credit and ATM card transaction processing, ATM driving and support, and PIN debit processing services. Financial Institution Services revenue associated with processing transactions includes per transaction and account related fees, card production fees and fees generated from the Company’s Jeanie network. Financial Institution Services revenue related to card transaction processing is recognized when consumers use their client-issued cards to make purchases. Financial Institution Services also generates revenue through other services, including statement production, collections and inbound/outbound call centers for credit transactions and other services such as credit card portfolio analytics, program strategy and support, fraud and security management and chargeback and dispute services. Financial Institution Services revenue is recognized as services are performed.

Financial Institution Services provides certain services to Fifth Third. Revenues related to these services are included in the accompanying statements of income as related party revenues.

Expenses

Set forth below is a brief description of the components of the Company’s expenses:


•	Network fees and other costs primarily consist of certain expenses incurred by the Company in connection with providing processing services to its clients which are passed through to its clients, including Visa and MasterCard network association fees, payment network fees, third party processing fees, telecommunication charges, postage and card production costs.


•	Sales and marketing expense primarily consists of salaries and benefits paid to sales personnel, sales management and other sales and marketing personnel, residual payments made to ISOs and referral partners, and advertising and promotional costs.


•	Other operating costs primarily consist of salaries and benefits paid to operational and IT personnel, costs associated with operating the Company’s technology platform and data centers, information technology costs for processing transactions, product development costs, software consulting fees and maintenance costs.


•	General and administrative expenses primarily consist of salaries and benefits paid to executive management and administrative employees, including finance, human resources, product development, legal and risk management, share-based compensation costs, equipment and occupancy costs and consulting costs.


•	Non-operating expenses during 2015 primarily relate to the change in fair value of a tax receivable agreement ("TRA") entered into in June 2014 (see Note 8 - Fair Value Measurements). The amounts for 2014 primarily relate to the refinancing of the Company's senior secured credit facilities in June 2014 and the change in fair value of a TRA entered into in June 2014.

Share-Based Compensation

The Company expenses employee share-based payments under ASC 718, Compensation—Stock Compensation, which requires compensation cost for the grant-date fair value of share-based payments to be recognized over the requisite service period. The Company estimates the grant date fair value of the share-based awards issued in the form of options using the Black-Scholes option pricing model. The fair value of restricted stock awards and performance awards is measured based on the market price of the Company’s stock on the grant date. For the nine months ended September 30, 2015 and 2014 total share-based compensation expense was $23.9 million and $30.8 million, respectively.

Earnings Per Share

Basic earnings per share is computed by dividing net income attributable to Vantiv, Inc. by the weighted average shares outstanding during the period. Diluted earnings per share is computed by dividing net income attributable to Vantiv, Inc., adjusted as necessary for the impact of potentially dilutive securities, by the weighted-average shares outstanding during the period and the impact of securities that would have a dilutive effect on earnings per share. See Note 9 - Net Income Per Share for further discussion.

Dividend Restrictions

The Company does not intend to pay cash dividends on its Class A common stock in the foreseeable future. Vantiv, Inc. is a holding company that does not conduct any business operations of its own. As a result, Vantiv, Inc.’s ability to pay cash dividends on its common stock, if any, is dependent upon cash dividends and distributions and other transfers from Vantiv Holding, which are subject to certain Fifth Third consent rights in the Amended and Restated Vantiv Holding Limited Liability Company Agreement. These consent rights require the approval of Fifth Third for certain significant matters, including the payment of all distributions by Vantiv Holding other than certain permitted distributions, which relate primarily to the payment of tax distributions and tax-related obligations. The amounts available to Vantiv, Inc. to pay cash dividends are also subject to the covenants and distribution restrictions in its subsidiaries’ loan agreements. As a result of the restrictions on distributions from Vantiv Holding and its subsidiaries, essentially all of the Company's consolidated net assets are held at the subsidiary level and are restricted as of September 30, 2015.

Income Taxes

Vantiv, Inc. is taxed as a C corporation for U.S. income tax purposes and is therefore subject to both federal and state taxation at a corporate level.

Income taxes are computed in accordance with ASC 740, Income Taxes, and reflect the net tax effects of temporary differences between the financial reporting carrying amounts of assets and liabilities and the corresponding income tax amounts. The Company has deferred tax assets and liabilities and maintains valuation allowances where it is more likely than not that all or a portion of deferred tax assets will not be realized. To the extent the Company determines that it will not realize the benefit of some or all of its deferred tax assets, such deferred tax assets will be adjusted through the Company’s provision for income taxes in the period in which this determination is made. As of September 30, 2015 and December 31, 2014, the Company had recorded no valuation allowances against deferred tax assets.

The Company's consolidated interim effective tax rate is based upon expected annual income from operations, statutory tax rates and tax laws in the various jurisdictions in which the Company operates. Significant or unusual items, including adjustments to accruals for tax uncertainties, are recognized in the quarter in which the related event occurs.

The Company's effective tax rates were 30.6% and 30.4%, respectively, for the nine months ended September 30, 2015 and 2014. The effective tax rate for each period reflects the impact of the Company's non-controlling interests.

Cash and Cash Equivalents

Cash on hand and investments with original maturities of three months or less (that are readily convertible to cash) are considered to be cash equivalents. Cash equivalents consist primarily of overnight EuroDollar sweep accounts which are maintained at reputable financial institutions with high credit quality and therefore are considered to bear minimal credit risk.

Accounts Receivable—net

Accounts receivable primarily represent processing revenues earned but not collected. For a majority of its customers, the Company has the authority to debit the client’s bank accounts through the Federal Reserve’s Automated Clearing House; as such, collectibility is reasonably assured. The Company records a reserve for doubtful accounts when it is probable that the accounts receivable will not be collected. The Company reviews historical loss experience and the financial position of its customers when estimating the allowance. As of September 30, 2015 and December 31, 2014, the allowance for doubtful accounts was not material to the Company’s statements of financial position.

Customer Incentives

Customer incentives represent signing bonuses paid to customers. Customer incentives are paid in connection with the acquisition or renewal of customer contracts, and are therefore deferred and amortized using the straight-line method based on the contractual agreement. Related amortization is recorded as contra-revenue.

Property, Equipment and Software—net

Property, equipment and software consists of the Company’s facilities, furniture and equipment, software, land and leasehold improvements. These assets are depreciated on a straight-line basis over their respective useful lives, which are 15 to 40 years for the Company’s facilities and related improvements, 2 to 10 years for furniture and equipment, 3 to 5 years for software and 3 to 10 years for leasehold improvements or the lesser of the estimated useful life of the improvement or the term of lease. Also included in property, equipment and software is work in progress consisting of costs associated with software developed for internal use which has not yet been placed in service. Accumulated depreciation as of September 30, 2015 and December 31, 2014 was $229.7 million and $202.8 million, respectively.

The Company capitalizes certain costs related to computer software developed for internal use and amortizes such costs on a straight-line basis over an estimated useful life of 3 to 5 years. Research and development costs incurred prior to establishing technological feasibility are charged to operations as such costs are incurred. Once technological feasibility has been established, costs are capitalized until the software is placed in service.

Goodwill and Intangible Assets

In accordance with ASC 350, Intangibles—Goodwill and Other, the Company tests goodwill for impairment for each reporting unit on an annual basis, or when events occur or circumstances indicate the fair value of a reporting unit is below its carrying value. If the fair value of a reporting unit is less than its carrying value, an impairment loss is recorded to the extent that fair value of the goodwill within the reporting unit is less than its carrying value. The Company performed its most recent annual goodwill impairment test for all reporting units as of July 31, 2015 using market data and discounted cash flow analyses. Based on this analysis, it was determined that the fair value of all reporting units were substantially in excess of the carrying value. There have been no other events or changes in circumstances subsequent to the testing date that would indicate impairment of these reporting units as of September 30, 2015.

Intangible assets consist of acquired customer relationships, trade names and customer portfolios and related assets that are amortized over their estimated useful lives. The Company reviews finite lived intangible assets for possible impairment whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. As of September 30, 2015, there have been no such events or circumstances that would indicate potential impairment of finite lived intangible assets. Subsequent to the Mercury acquisition in June 2014, the Company decided to phase out an existing trade name used in the ISO channel within the Merchant Services segment. As a result of this decision, the remaining useful life was changed from indefinite to definite which resulted in the Company recording a charge to amortization expense of $34.3 million during the quarter ended June 30, 2014.

Settlement Assets and Obligations

Settlement assets and obligations result from Financial Institution Services when funds are transferred from or received by the Company prior to receiving or paying funds to a different entity. This timing difference results in a settlement asset or obligation. The amounts are generally collected or paid the following business day.

The settlement assets and obligations recorded by Merchant Services represent intermediary balances due to differences between the amount the Sponsoring Member receives from the card associations and the amount funded to the merchants. Such differences arise from timing differences, interchange expenses, merchant reserves and exception items. In addition, certain card associations limit the Company from accessing or controlling merchant settlement funds and, instead, require that these funds be controlled by the Sponsoring Member. The Company follows a net settlement process whereby, if the settlement received from the card associations precedes the funding obligation to the merchant, the Company temporarily records a corresponding liability. Conversely, if the funding obligation to the merchant precedes the settlement from the card associations, the amount of the net receivable position is recorded by the Company, or in some cases, the Sponsoring Member may cover the position with its own funds in which case a receivable position is not recorded by the Company.

Derivatives

The Company accounts for derivatives in accordance with ASC 815, Derivatives and Hedging. This guidance establishes accounting and reporting for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. All derivatives, whether designated in hedging relationships or not, are required to be recorded on the statement of financial position at fair value. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and the hedged item will be recognized in earnings. If the derivative is designated as a cash flow hedge, the effective portion of the change in the fair value of the derivative will be recorded in accumulated other comprehensive income ("AOCI") and will be recognized in the statement of income when the hedged item affects earnings. The Company does not enter into derivative financial instruments for speculative purposes.

Tax Receivable Agreements

As of September 30, 2015, the Company is party to tax receivable agreements ("TRAs") with Fifth Third, which were executed in connection with its initial public offering ("IPO"). One (the "Fifth Third TRA") provides for the payment by the Company to Fifth Third of 85% of the amount of cash savings, if any, in U.S. federal, state, local and foreign income tax that the Company actually realizes as a result of the increases in tax basis that may result from the purchase of Vantiv Holding units from Fifth Third or from the future exchange of units by Fifth Third for cash or shares of the Company's Class A common stock, as well as the tax benefits attributable to payments made under such tax receivable agreement. Any actual increase in tax basis, as well as the amount and timing of any payments under the agreement, will vary depending upon a number of factors, including the timing of exchanges, the price of shares of our Class A common stock at the time of the exchange, the extent to which such exchanges are taxable, and the amount and timing of the Company's income. The other tax receivable agreement (the "NPC TRA") provides for the payment by the Company to Fifth Third of 85% of the amount of cash savings according to Fifth Third's respective ownership interests in Vantiv Holding immediately prior to our initial public offering, if any, in U.S. federal, state, local and foreign income tax that National Processing Company ("NPC") actually realizes as a result of its use of its net operating losses ("NOLs") and other tax attributes.

Simultaneously and in connection with the completion of the acquisition of Mercury Payment Systems, LLC ("Mercury"), the Company entered into a TRA (the "Mercury TRA") with pre-acquisition owners of Mercury (the "Mercury TRA Holders"). The Mercury TRA generally provides for the payment by the Company to the Mercury TRA Holders of 85% of the value of the amount of cash savings, if any, in U.S. federal, state, local and foreign income tax that the Company actually realizes as a result of the increase in tax basis of the assets of Mercury and the use of the NOLs and other tax attributes of Mercury. The Mercury TRA is considered contingent consideration under ASC 805, Business Combinations ("ASC 805") as it is part of the consideration payable to the former owners of Mercury. In accordance with ASC 805, the contingent consideration is initially measured at fair value at the acquisition date and recorded as a liability. The Mercury TRA liability is therefore recorded at fair value based on estimates of discounted future cash flows associated with estimated payments to the Mercury TRA Holders. The liability recorded by the Company for the Mercury TRA obligations will be re-measured at fair value at each reporting date with the change in fair value recognized in earnings as a non-operating expense.

On July 24, 2015, the Company entered into a Repurchase Addendum to Tax Receivable Agreement (the “TRA Addendum”) with each of the Mercury TRA Holders. Pursuant to the terms of the TRA Addendum, the Company has terminated and settled a portion of its obligations under the Mercury TRA, in consideration for a cash payment of $44.8 million that was paid on a pro rata basis to the Mercury TRA Holders.

Under the terms of the TRA Addendum, beginning December 1st of each of 2015, 2016, 2017, and 2018, and ending June 30th of 2016, 2017, 2018, and 2019, respectively, the Company is granted call options (collectively, the “Call Options”) pursuant to which certain additional obligations of the Company under the Mercury TRA would be terminated in consideration for cash payments of $41.4 million, $38.1 million, $38.0 million, and $43.0 million, respectively.

Under the terms of the TRA Addendum, if the Company does not exercise the relevant Call Option, the Mercury TRA Holders are granted put options beginning July 10th and ending July 25th of each of 2016, 2017, 2018, and 2019, respectively (collectively, the “Put Options”), pursuant to which certain additional obligations of the Company would be terminated in consideration for cash payments with similar amounts to the Call Options.

Except to the extent the Company’s obligations under the Mercury TRA have been terminated and settled in full in accordance with the terms of the TRA Addendum, the Mercury TRA will remain in effect, and the parties thereto will continue to have all rights and obligations thereunder.

The Company’s President, Integrated Payments, is a Mercury TRA Holder. Pursuant to the initial payment under the TRA Addendum, this individual is entitled to receive an aggregate of $0.6 million, and could receive as much as an additional $2.2 million with respect to payments made pursuant to the TRA Addendum.

All TRA obligations are recorded based on the full and undiscounted amount of the expected future payments, except for the Mercury TRA which represents contingent consideration relating to an acquired business, and is recorded at fair value for financial reporting purposes (See Note 8 - Fair Value Measurements).

Payments under each of the TRAs discussed above are required to the extent the Company realizes cash savings as a result of the underlying tax attributes. The cash savings realized by the Company are computed by comparing the Company's actual income tax liability to the amount of such taxes the Company would have been required to pay had there been no deductions related to the tax attributes discussed above. The Company retains the benefit of the remaining 15% of these tax savings. As a result of the TRA Addendum entered into with each of the Mercury TRA Holders discussed above, beginning in the current quarter and with the exercise of each call or put option, the Company will reflect the retention of the cash tax benefits resulting from the realization of the tax attributes.

The timing and/or amount of aggregate payments due under the TRAs may vary based on a number of factors, including the amount and timing of the taxable income the Company generates in the future and the tax rate then applicable, the use of loss carryovers and amortizable basis. Payments under the TRAs, if necessary, are required to be made no later than January 5th of the second year immediately following the current taxable year. A payment under the TRA obligations of approximately $22.8 million was paid to Fifth Third in January 2015. The term of the TRAs will continue until all such tax benefits have been utilized or expired, unless we exercise our right to terminate the TRAs for an amount based on the agreed payments remaining to be made under the agreements. See Note 12 - Subsequent Event for discussion of the tax receivable purchase addendum with Fifth Third executed on October 23, 2015.

New Accounting Pronouncements

In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The update requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Amortization of the costs will continue to be reported as interest expense. In August 2015, the FASB issued ASU 2015-15, Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. The update provides additional guidance to ASU 2015-03, which did not address presentation or subsequent measurement of debt issuance costs related to line-of-credit arrangements. The update noted that the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. These updates require retrospective application and represent a change in accounting principle. These updates are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted for financial statements that have not been previously issued. The Company does not expect the new guidance to have a material impact on the Company's consolidated financial statements.

In May 2014, the FASB issued ASU 2014-09, "Revenue From Contracts With Customers." The ASU supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. The new standard provides a five-step analysis of transactions to determine when and how revenue is recognized, based upon the core principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard also requires additional disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new standard, as amended, is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, with early adoption prohibited. The amendment allows companies to use either a full retrospective or a modified retrospective approach to adopt this ASU. The Company is currently evaluating which transition approach to use and assessing the impact of the adoption of this principle on the Company's consolidated financial statements.

BUSINESS COMBINATIONS

9 Months Ended

Sep. 30, 2015

Business Combinations [Abstract]

BUSINESS COMBINATIONS

Acquisition of Mercury Payment Systems, LLC

On June 13, 2014, the Company completed the acquisition of Mercury, acquiring all of the outstanding voting interest. Mercury was a payment technology and service leader whose solutions are integrated into point-of-sale software applications and brought to market through dealer and developer partners. This acquisition helps to accelerate the Company's growth in the integrated payments channel.

During the second quarter of 2015, the Company recorded measurement period adjustments to the trade name and to the Mercury TRA. The adjustment to the trade name, which is included in intangible assets below, is based on a change in the underlying assumptions used to value the trade name due to the refinement of estimates. The trade name was initially assigned a value of $59.1 million and a weighted average estimated useful life of 9.5 years utilizing the relief from royalty method. As a result of a change in the underlying assumptions due to the refinement of estimates, the Company is assigning the trade name a value of $15 million based on a weighted average estimated useful life of 2.5 years. The adjustment to the Mercury TRA is due to a change in the inputs used in determining the fair value of the TRA as a result of refining estimates. Both measurement period adjustments are reflected in the table below and have no effect on the accompanying statement of income.

The following is the final fair value of the purchase price for Mercury (in thousands):



Cash purchase price paid at closing	$	1,681,179
Fair value of contingent consideration related to a TRA	192,507
Total purchase price	$	1,873,686

The acquisition was accounted for as a business combination under ASC 805. The purchase price was allocated to the assets acquired and the liabilities assumed based on the estimated fair value at the date of acquisition. The excess of the purchase price over the fair value of the net assets acquired was allocated to goodwill, a significant portion of which is deductible for tax purposes. Goodwill, assigned to Merchant Services, consists primarily of the acquired workforce and growth opportunities, none of which qualify as an intangible asset. The final purchase price allocation is as follows (in thousands):



Cash acquired	$	22,485
Current assets	47,421
Property, equipment and software	32,257
Intangible assets	347,000
Goodwill	1,422,916
Deferred tax assets	43,054
Other non-current assets	767
Current and non-current liabilities	(42,214		)
Total purchase price	$	1,873,686

The following pro forma information shows the Company’s results of operations for the three months and nine months ended September 30, 2014 as if the Mercury acquisition had occurred January 1, 2013. The pro forma information is presented for informational purposes only and is not necessarily indicative of what would have occurred if the acquisition had been made as of that date, nor is it intended to be indicative of future operating results.



	Three Months Ended September 30, 2014		Nine Months Ended September 30, 2014
	(Actual)		(Pro forma)
	(in thousands, except share data)
Total revenue	$	697,109	$	2,003,239
Income from operations	97,914		219,721
Net income including non-controlling interests	42,845		93,056
Net income attributable to Vantiv, Inc.	29,986		61,051
Net income per share attributable to Vantiv, Inc. Class A common stock:
Basic	$	0.21	$	0.43
Diluted	$	0.20	$	0.43
Shares used in computing net income per share of Class A common stock:
Basic	144,632,010		141,127,560
Diluted	199,698,988		199,074,819

The pro forma results include certain pro forma adjustments that were directly attributable to the business combination as follows:


•	additional amortization expense that would have been recognized relating to the acquired intangible assets,


•	an adjustment of interest expense to reflect the additional borrowings of the Company in conjunction with the acquisition and removal of Mercury historical debt, and


•	a reduction in non-operating expenses in the nine months ended September 30, 2014 for acquisition-related transaction costs and debt refinancing costs incurred by the Company.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
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-Section 50
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1490-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 805
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1486-128463

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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+ Details

GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill, by business segment, are as follows (in thousands):



	Merchant Services		Financial Institution Services		Total
Balance as of December 31, 2014	$	2,716,516	$	574,850	$	3,291,366
Goodwill attributable to acquisition of Mercury (1)	75,162		—		75,162
Balance as of September 30, 2015	$	2,791,678	$	574,850	$	3,366,528

(1) Amount represents adjustments to goodwill associated with the acquisition of Mercury as a result of the finalization of purchase accounting.

Intangible assets consist of acquired customer relationships, trade names and customer portfolios and related assets. The useful lives of customer relationships are determined based on forecasted cash flows, which include estimates for customer attrition associated with the underlying portfolio of customers acquired. The customer relationships acquired in conjunction with acquisitions are amortized based on the pattern of cash flows expected to be realized taking into consideration expected revenues and customer attrition, which are based on historical data and the Company's estimates of future performance. These estimates result in accelerated amortization on certain acquired intangible assets.

Indefinite lived trade names are reviewed for impairment on an annual basis or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Subsequent to the Mercury acquisition in June 2014, the Company decided to phase out an existing trade name used in the ISO channel. The trade name was originally expected to remain in use for the foreseeable future and therefore was deemed an indefinite lived intangible asset not subject to amortization. As a result of this decision, the remaining useful life was changed from indefinite to definite which resulted in the Company recording a charge to amortization expense of $34.3 million during the quarter ended June 30, 2014. The trade name was revalued utilizing an income approach using the relief-from-royalty method. The revised fair value of $6.7 million is being amortized on a straight-line basis over the remaining estimated useful life of two years.

The Company reviews finite lived intangible assets for possible impairment whenever events or changes in circumstances indicate that carrying amounts may not be recoverable.

As of September 30, 2015 and December 31, 2014, the Company's intangible assets consisted of the following (in thousands):



	September 30, 2015		December 31, 2014
Customer relationship intangible assets	$	1,596,581	$	1,596,581
Trade names - finite lived	21,733		65,833
Customer portfolios and related assets	127,415		57,383
	1,745,729		1,719,797

Less accumulated amortization on:
Customer relationship intangible assets	780,960		655,017
Trade names - finite lived	12,009		5,105
Customer portfolios and related assets	41,920		24,983
	834,889		685,105
	$	910,840	$	1,034,692

Customer portfolios and related assets acquired during the nine months ended September 30, 2015 have a weighted-average amortization period of 4.9 years. Amortization expense on intangible assets for the three months ended September 30, 2015 and 2014 was $51.0 million and $47.1 million, respectively. Amortization expense on intangible assets for the nine months ended September 30, 2015 and 2014 was $149.8 million and $152.1 million, respectively. For the nine months ended September 30, 2014, intangible amortization expense included a $34.3 million charge related to the phasing out of a trade name.

The estimated amortization expense of intangible assets for the next five years is as follows (in thousands):



Three months ending December 31, 2015	$	50,222
2016	191,215
2017	170,681
2018	161,629
2019	153,530
2020	81,470

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

LONG-TERM DEBT

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

LONG-TERM DEBT

As of September 30, 2015 and December 31, 2014, the Company’s debt consisted of the following:



	September 30, 2015			December 31, 2014
	(in thousands)
$2,050.0 million term A loan, maturing on June 13, 2019, and bearing interest at a variable base rate (LIBOR) plus a spread rate (200 basis points) (total rate of 2.21% at September 30, 2015) and amortizing on a basis of 1.25% per quarter during each of the first twelve quarters, 1.875% per quarter during the next four quarters and 2.50% during the next three quarters with a balloon payment due at maturity	$	1,921,875		$	1,998,750
$1,400.0 million term B loan, maturing on June 13, 2021, and bearing interest at a variable base rate (LIBOR) with a floor of 75 basis points plus a spread rate (300 basis points) (total rate of 3.75% at September 30, 2015) and amortizing on a basis of 0.25% per quarter, with a balloon payment due at maturity	1,182,500			1,393,000
$10.1 million leasehold mortgage, expiring on August 10, 2021 and bearing interest payable monthly at a fixed rate (rate of 6.22% at September 30, 2015)	10,131			10,131
Less: Current portion of note payable and current portion of note payable to related party	(116,501		)	(116,501		)
Less: Original issue discount	(6,337		)	(8,143		)
Note payable and note payable to related party	$	2,991,668		$	3,277,237

2014 Debt Refinancing

On June 13, 2014, Vantiv, LLC completed a debt refinancing by entering into an amended and restated loan agreement ("Amended Loan Agreement"). The Amended Loan Agreement provides for senior secured credit facilities comprised of a $2.05 billion term A loan, a $1.4 billion term B loan and a $425 million revolving credit facility. Proceeds from the refinancing were primarily used to fund the Mercury acquisition and repay the prior term A loan with an outstanding balance of approximately $1.8 billion as of the date of refinancing. The prior revolving credit facility was also terminated. The maturity date and debt service requirements relating to the new term A and term B loans are listed in the table above. The new revolving credit facility matures in June 2019 and includes a $100 million swing line facility and a $40 million letter of credit facility. The commitment fee rate for the unused portion of the revolving credit facility is 0.375% per year. There were no outstanding borrowings on the revolving credit facility at September 30, 2015.

As of September 30, 2015 and December 31, 2014, Fifth Third held $194.1 million and $201.9 million, respectively, of the term A loans.

On January 6, 2015, the Company made an early principal payment of $200 million on the term B loan. The Company expensed approximately $1.8 million in non-operating expenses related to the write-off of deferred financing fees and OID in connection with the early principal payment.

Guarantees and Security

The Company's debt obligations at September 30, 2015 are unconditional and are guaranteed by Vantiv Holding and certain of Vantiv Holding’s existing and subsequently acquired or organized domestic subsidiaries. The refinanced debt and related guarantees are secured on a first-priority basis (subject to liens permitted under the Amended Loan Agreement) by substantially all the capital stock (subject to a 65% limitation on pledges of capital stock of foreign subsidiaries and domestic holding companies of foreign subsidiaries) and personal property of Vantiv Holding and any obligors as well as any real property in excess of $10 million in the aggregate held by Vantiv Holding or any obligors (other than Vantiv Holding), subject to certain exceptions.

Covenants

There are certain financial and non-financial covenants contained in the Amended Loan Agreement for the refinanced debt, which are tested on a quarterly basis. The financial covenants require maintenance of certain leverage and interest coverage ratios. At September 30, 2015, the Company was in compliance with these financial covenants.

DERIVATIVES AND HEDGING ACTIVITIES

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVES AND HEDGING ACTIVITIES

Risk Management Objective of Using Derivatives

The Company enters into derivative financial instruments to manage differences in the amount, timing and duration of its known or expected cash payments related to its variable-rate debt. As of September 30, 2015 and December 31, 2014, the Company’s derivative instruments consisted of interest rate swaps, which hedged the variable rate debt by converting floating-rate payments to fixed-rate payments. These swaps are designated as cash flow hedges for accounting purposes.

Accounting for Derivative Instruments

The Company recognizes derivatives in other current and non-current assets or liabilities in the accompanying consolidated statements of financial position at their fair values. Refer to Note 8 - Fair Value Measurements for a detailed discussion of the fair value of its derivatives. The Company designates its interest rate swaps as cash flow hedges of forecasted interest rate payments related to its variable-rate debt.

The Company formally documents all relationships between hedging instruments and underlying hedged transactions, as well as its risk management objective and strategy for undertaking hedge transactions. This process includes linking all derivatives that are designated as cash flow hedges to forecasted transactions. A formal assessment of hedge effectiveness is performed both at inception of the hedge and on an ongoing basis to determine whether the hedge is highly effective in offsetting changes in cash flows of the underlying hedged item. Hedge effectiveness is assessed using a regression analysis. If it is determined that a derivative ceases to be highly effective during the term of the hedge, the Company will discontinue hedge accounting for such derivative.

The Company’s interest rate swaps qualify for hedge accounting under ASC 815, Derivatives and Hedging. Therefore, the effective portion of changes in fair value were recorded in AOCI and will be reclassified into earnings in the same period during which the hedged transactions affected earnings.

Cash Flow Hedges of Interest Rate Risk

The Company's objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company uses interest rate swaps as part of its interest rate risk management strategy. As of September 30, 2015, the Company had a total of 14 outstanding interest rate swaps that were designated as cash flow hedges of interest rate risk. Of the 14 outstanding interest rate swaps, 8 of them cover an exposure period from June 2015 through June 2017 and have a combined notional balance of $1.2 billion (amortizing to $1.1 billion). The remaining 6 interest rate swaps cover an exposure period from January 2016 through January 2019 and have a combined notional balance of $500 million. Fifth Third is the counterparty to 5 of the 14 outstanding interest rate swaps with notional balances ranging from $293.8 million to $250.0 million.

The Company does not offset derivative positions in the accompanying consolidated financial statements. The table below presents the fair value of the Company’s derivative financial instruments designated as cash flow hedges included within the accompanying consolidated statements of financial position (in thousands):



	Consolidated Statement of Financial Position Location	September 30, 2015		December 31, 2014
Interest rate swaps	Other long-term assets	$	—	$	104
Interest rate swaps	Other current liabilities	10,283		5,205
Interest rate swaps	Other long-term liabilities	15,253		2,283

Any ineffectiveness associated with such derivative instruments will be recorded immediately as interest expense in the accompanying consolidated statements of income. As of September 30, 2015, the Company estimates that $11.1 million will be reclassified from accumulated other comprehensive income as an increase to interest expense during the next 12 months.

The table below presents the effect of the Company’s interest rate swaps on the accompanying consolidated statements of income for the three months and nine months ended September 30, 2015 and 2014 (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Derivatives in cash flow hedging relationships:
Amount of gain (loss) recognized in OCI (effective portion) (1)	$	(9,686	)	$	2,968		$	(22,838	)	$	(5,865	)
Amount of gain (loss) reclassified from accumulated OCI into earnings (effective portion)	(2,392		)	(1,114		)	(4,685		)	(1,932		)
Amount of gain (loss) recognized in earnings (2)	—			—			—			(2		)


(1)	"OCI" represents other comprehensive income.


(2)	Amount represents hedge ineffectiveness and is recorded as a component of interest expense-net in the accompanying consolidated statement of income.

Credit Risk Related Contingent Features

The Company has agreements with each of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, then the Company could also be declared in default on its derivative obligations.

As of September 30, 2015, the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $27.2 million. As of September 30, 2015, the Company has not posted any collateral related to these agreements. If the Company had breached any of these provisions at September 30, 2015, it could have been required to settle its obligations under the agreements at their termination value of $27.2 million.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
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-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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+ Details

CONTROLLING AND NON-CONTROLLING INTERESTS

9 Months Ended

Sep. 30, 2015

Noncontrolling Interest [Abstract]

CONTROLLING AND NON-CONTROLLING INTERESTS

The Company has various non-controlling interests that are accounted for in accordance with ASC 810, Consolidation ("ASC 810"). As discussed in Note 1 - Basis of Presentation and Summary of Significant Accounting Policies, Vantiv, Inc. owns a controlling interest in Vantiv Holding, and therefore consolidates the financial results of Vantiv Holding and its subsidiaries and records non-controlling interest for the economic interests in Vantiv Holding held by Fifth Third. In addition, the Company and People's United Bank (“PUB”) formed People’s United Merchant Services (“PUMS”) during May 2014, which represents a joint venture that provides customers a comprehensive suite of payment solutions. Vantiv Holding owns 51% of PUMS and PUB owns 49%. PUMS is consolidated by the Company in accordance with ASC 810 and records non-controlling interest for the economic interests in PUMS held by PUB.

As of September 30, 2015, Vantiv, Inc.’s interest in Vantiv Holding was 76.84%. Changes in units and related ownership interest in Vantiv Holding are summarized as follows:



	Vantiv, Inc.		Fifth Third		Total
As of December 31, 2014	145,455,008		43,042,826		188,497,834
% of ownership	77.17	%	22.83	%
Share repurchases	(3,575,900	)	—		(3,575,900	)
Equity plan activity (a)	940,701		—		940,701
As of September 30, 2015	142,819,809		43,042,826		185,862,635
% of ownership	76.84	%	23.16	%


(a)	Includes stock issued under the equity plans less Class A common stock withheld to satisfy employee tax withholding obligations upon vesting or exercise of employee equity awards and forfeitures of restricted Class A common stock awards.

As a result of changes in ownership interests in Vantiv Holding, adjustments of $33.8 million and $52.8 million were recognized during the nine months ended September 30, 2015 and 2014, respectively, in order to reflect the portion of net assets of Vantiv Holding attributable to non-controlling unit holders based on changes in the proportionate ownership interests in Vantiv Holding during those periods.

The table below provides a reconciliation of net income attributable to non-controlling interests based on relative ownership interests as discussed above (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Net income	$	59,148	$	42,845	$	138,837	$	87,249
Items not allocable to non-controlling interests:
Vantiv, Inc. expenses (a)	16,158		12,687		36,555		32,501
Vantiv Holding net income	$	75,306	$	55,532	$	175,392	$	119,750
Net income attributable to non-controlling interests of Fifth Third (b)	$	17,152	$	12,695	$	39,523	$	30,071
Net income attributable to PUMS non-controlling interest (c)	504		164		2,297		465
Total net income attributable to non-controlling interests	$	17,656	$	12,859	$	41,820	$	30,536

(a) Primarily represents income tax expense related to Vantiv, Inc.

(b) Net income attributable to non-controlling interests of Fifth Third reflects the allocation of Vantiv Holding’s net income based on the proportionate ownership interests in Vantiv Holding held by the non-controlling unit holders. The net income attributable to non-controlling unit holders reflects the changes in ownership interests summarized in the table above.


(c)	Reflects net income attributable to the non-controlling interest of PUMS.

In connection with the separation from Fifth Third, Fifth Third received a warrant that allows for the purchase of up to 20.4 million Class C Non-Voting Units of Vantiv Holding. The warrant is exercisable, in whole or in part, and from time to time, but not during a restricted period. A restricted period means a period during which Vantiv Holding (or any successor thereto) is treated as a partnership for U.S. federal income tax purposes; provided that the restricted period shall terminate upon the earlier of (i) a change of control, and (ii) in the event Vantiv, Inc. is no longer a public company owning Vantiv Holding, both as defined in the warrant agreement. The warrant expires upon the earliest to occur of June 30, 2029 or a change of control where the price paid per unit in such change of control minus the exercise price of the warrant is less than zero. Fifth Third is entitled to purchase the underlying Units of the warrant at a price of $15.98 per unit. The warrant was valued at approximately $65.4 million at June 30, 2009, the issuance date, using a Black-Scholes option valuation model using probability weighted scenarios. The warrant is recorded as a component of the non-controlling interest on the accompanying statements of financial position.

COMMITMENTS, CONTINGENCIES AND GUARANTEES	9 Months Ended
COMMITMENTS, CONTINGENCIES AND GUARANTEES	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS, CONTINGENCIES AND GUARANTEES	COMMITMENTS, CONTINGENCIES AND GUARANTEES Legal Reserve From time to time, the Company is involved in various litigation matters arising in the ordinary course of its business. While it is impossible to ascertain the ultimate resolution or range of financial liability with respect to these contingent matters, management believes none of these matters, either individually or in the aggregate, would have a material effect upon the Company’s consolidated financial statements.

FAIR VALUE MEASUREMENTS

9 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses the hierarchy prescribed in ASC 820, Fair Value Measurement, based upon the available inputs to the valuation and the degree to which they are observable or not observable in the market. The three levels in the hierarchy are as follows:


•	Level 1 Inputs—Quoted prices (unadjusted) for identical assets or liabilities in active markets that are accessible as of the measurement date.


•	Level 2 Inputs—Inputs other than quoted prices within Level 1 that are observable either directly or indirectly, including but not limited to quoted prices in markets that are not active, quoted prices in active markets for similar assets or liabilities and observable inputs other than quoted prices such as interest rates or yield curves.


•	Level 3 Inputs—Unobservable inputs reflecting the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk.

The following table summarizes assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015						December 31, 2014
	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets:
Interest rate swaps	$	—	$	—	$	—	$	—	$	104	$	—
Liabilities:
Interest rate swaps	$	—	$	25,536	$	—	$	—	$	7,488	$	—
Mercury TRA	—		—		183,463		—		—		152,420

The following table summarizes carrying amounts and estimated fair values for financial assets and liabilities, excluding assets and liabilities measured at fair value on a recurring basis, as of September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015				December 31, 2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Liabilities:
Note payable	$	3,108,169	$	3,102,729	$	3,393,738	$	3,310,181

We consider that the carrying value of cash and cash equivalents, receivables, accounts payable and accrued expenses approximates fair value (Level 1) given the short-term nature of these items. The fair value of the Company’s note payable was estimated based on rates currently available to the Company for bank loans with similar terms and maturities and is classified in Level 2 of the fair value hierarchy.

Interest Rate Swaps

The Company uses interest rate swaps to manage interest rate risk. The fair value of interest rate swaps is determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on the expectation of future interest rates (forward curves) derived from observed market interest rate curves. In addition, to comply with the provisions of ASC 820, Fair Value Measurements, credit valuation adjustments, which consider the impact of any credit enhancements to the contracts, are incorporated in the fair values to account for potential nonperformance risk. In adjusting the fair value of its interest rate swaps for the effect of nonperformance risk, the Company has considered any applicable credit enhancements such as collateral postings, thresholds, mutual puts, and guarantees.

Although the Company determined that the majority of the inputs used to value its interest rate swaps fell within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its interest rate swaps utilized Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of September 30, 2015 and December 31, 2014, the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its interest rate swaps and determined that the credit valuation adjustment was not significant to the overall valuation of its interest rate swaps. As a result, the Company classified its interest rate swap valuations in Level 2 of the fair value hierarchy. See Note 5 - Derivatives and Hedging Activities for further discussion of the Company’s interest rate swaps.

Mercury TRA

The Mercury TRA is considered contingent consideration as it is part of the consideration payable to the former owners of Mercury. Such contingent consideration is measured at fair value and is based on significant inputs not observable in the market, which is classified in Level 3 of the fair value hierarchy. The Mercury TRA is recorded at fair value based on estimates of discounted future cash flows associated with the estimated payments to the Mercury TRA Holders. The significant unobservable inputs used in the fair value measurement of the Mercury TRA are the discount rate, projections of taxable income and effective tax rates. Significant increases (decreases) in any of those inputs in isolation would result in a significantly lower (higher) fair value measurement. The liability recorded is re-measured at fair value at each reporting period with the change in fair value recognized in earnings as a non-operating expense. The Company recorded non-operating expenses of $7.5 million and $6.5 million related to the change in fair value during the three months ended September 30, 2015 and 2014, respectively. The Company recorded non-operating expenses of $21.2 million and $7.7 million related to the change in fair value during the nine months ended September 30, 2015 and 2014, respectively. See Note 1 - Basis of Presentation and Summary of Significant Accounting Policies for further discussion of the Mercury TRA.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

NET INCOME PER SHARE

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

NET INCOME PER SHARE

Basic net income per share is calculated by dividing net income attributable to Vantiv, Inc. by the weighted-average shares of Class A common stock outstanding during the period.

Diluted net income per share is calculated assuming that Vantiv Holding is a wholly-owned subsidiary of Vantiv, Inc., therefore eliminating the impact of Fifth Third's non-controlling interest. Pursuant to the Exchange Agreement, the Class B units of Vantiv Holding ("Class B units"), which are held by Fifth Third and represent the non-controlling interest in Vantiv Holding, are convertible into shares of Class A common stock on a one-for-one basis. Based on this conversion feature, diluted net income per share is calculated assuming the conversion of the Class B units on an "if-converted" basis. Due to the Company's structure as a C corporation and Vantiv Holding's structure as a pass-through entity for tax purposes, the numerator in the calculation of diluted net income per share is adjusted accordingly to reflect the Company's income tax expense assuming the conversion of the Fifth Third non-controlling interest into Class A common stock. The adjusted effective tax rate used in the calculation was 36.0% for 2015 and 36.5% for 2014. As of September 30, 2015 and 2014, there were approximately 43.0 million Class B units outstanding.

In addition to the Class B units discussed above, potentially dilutive securities during the three and nine months ended September 30, 2015 and 2014 included restricted stock awards, the warrant held by Fifth Third which allows for the purchase of Class C units of Vantiv Holding, stock options and performance share awards.

The shares of Class B common stock do not share in the earnings or losses of the Company and are therefore not participating securities. Accordingly, basic and diluted net income per share of Class B common stock has not been presented.

The following table sets forth the computation of basic and diluted net income per share (in thousands, except share data):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Basic:
Net income attributable to Vantiv, Inc.	$	41,492	$	29,986	$	97,017	$	56,713
Shares used in computing basic net income per share:
Weighted-average Class A common shares	145,015,310		144,632,010		145,039,413		141,127,560
Basic net income per share	$	0.29	$	0.21	$	0.67	$	0.40
Diluted:
Consolidated income before applicable income taxes	$	83,924	$	63,281	$	200,185	$	125,327
Income tax expense excluding impact of non-controlling interest	30,213		23,098		72,067		45,744
Net income attributable to Vantiv, Inc.	$	53,711	$	40,183	$	128,118	$	79,583
Shares used in computing diluted net income per share:	0
Weighted-average Class A common shares	145,015,310		144,632,010		145,039,413		141,127,560
Weighted-average Class B units of Vantiv Holding	43,042,826		43,042,826		43,042,826		46,282,167
Warrant	12,826,059		10,349,050		12,124,954		10,058,028
Restricted stock awards	517,379		1,140,561		743,307		1,352,914
Stock options	497,450		534,541		533,152		254,150
Diluted weighted-average shares outstanding	201,899,024		199,698,988		201,483,652		199,074,819
Diluted net income per share	$	0.27	$	0.20	$	0.64	$	0.40

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Sep. 30, 2015

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The activity of the components of accumulated other comprehensive income (loss) related to cash flow hedging and other activities for the three months and nine months ended September 30, 2015 and 2014 is presented below (in thousands):



				Total Other Comprehensive Income (Loss)
	AOCI Beginning Balance			Pretax Activity			Tax Effect			Net Activity			Attributable to non-controlling interests			Attributable to Vantiv, Inc.			AOCI Ending Balance
Three months ended September 30, 2015
Net change in fair value recorded in accumulated OCI	$	(11,606	)	$	(9,686	)	$	2,814		$	(6,872	)	$	2,235		$	(4,637	)	$	(16,243	)
Net realized loss reclassified into earnings (a)	2,831			2,392			(693		)	1,699			(554		)	1,145			3,976
Other	(212		)	—			—			—			—			—			(212		)
Net change	$	(8,987	)	$	(7,294	)	$	2,121		$	(5,173	)	$	1,681		$	(3,492	)	$	(12,479	)

Three months ended September 30, 2014
Net change in fair value recorded in accumulated OCI	$	(4,120	)	$	2,968		$	(856	)	$	2,112		$	(675	)	$	1,437		$	(2,683	)
Net realized loss reclassified into earnings (a)	658			1,114			(321		)	793			(254		)	539			1,197
Other	4			(70		)	—			(70		)	—			(70		)	(66		)
Net change	$	(3,458	)	$	4,012		$	(1,177	)	$	2,835		$	(929	)	$	1,906		$	(1,552	)

Nine months ended September 30, 2015
Net change in fair value recorded in accumulated OCI	$	(5,288	)	$	(22,838	)	$	6,645		$	(16,193	)	$	5,238		$	(10,955	)	$	(16,243	)
Net realized loss reclassified into earnings (a)	1,732			4,685			(1,365		)	3,320			(1,076		)	2,244			3,976
Other	(212		)	—			—			—			—			—			(212		)
Net change	$	(3,768	)	$	(18,153	)	$	5,280		$	(12,873	)	$	4,162		$	(8,711	)	$	(12,479	)

Nine months ended September 30, 2014
Net change in fair value recorded in accumulated OCI	$	(5	)	$	(5,865	)	$	1,569		$	(4,296	)	$	1,618		$	(2,678	)	$	(2,683	)
Net realized loss reclassified into earnings (a)	269			1,932			(554		)	1,378			(450		)	928			1,197
Other	—			(66		)	—			(66		)	—			(66		)	(66		)
Net change	$	264		$	(3,999	)	$	1,015		$	(2,984	)	$	1,168		$	(1,816	)	$	(1,552	)

(a) The reclassification adjustment on cash flow hedge derivatives affected the following lines in the accompanying consolidated statements of income:



OCI Component		Affected line in the accompanying consolidated statements of income
Pretax activity(1)		Interest expense-net
Tax effect		Income tax expense
OCI attributable to non-controlling interests		Net income attributable to non-controlling interests

(1) The three months and nine months ended September 30, 2015 and 2014 reflect amounts of losses reclassified from AOCI into earnings, representing the effective portion of the hedging relationships, and is recorded in interest expense-net.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
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-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

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-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

SEGMENT INFORMATION

Segment operating results are presented below (in thousands). The results reflect revenues and expenses directly related to each segment. The Company does not evaluate performance or allocate resources based on segment asset data, and therefore such information is not presented.

Segment profit reflects total revenue less network fees and other costs and sales and marketing costs of the segment. The Company’s CODM evaluates this metric in analyzing the results of operations for each segment.



	Three Months Ended September 30, 2015
	Merchant Services		Financial Institution Services		Total
Total revenue	$	687,394	$	128,604	$	815,998
Network fees and other costs	342,518		43,030		385,548
Sales and marketing	126,400		6,081		132,481
Segment profit	$	218,476	$	79,493	$	297,969



	Three Months Ended September 30, 2014
	Merchant Services		Financial Institution Services		Total
Total revenue	$	580,082	$	117,027	$	697,109
Network fees and other costs	282,431		34,161		316,592
Sales and marketing	104,460		6,773		111,233
Segment profit	$	193,191	$	76,093	$	269,284



	Nine Months Ended September 30, 2015
	Merchant Services		Financial Institution Services		Total
Total revenue	$	1,935,364	$	372,240	$	2,307,604
Network fees and other costs	962,714		116,329		1,079,043
Sales and marketing	353,435		18,026		371,461
Segment profit	$	619,215	$	237,885	$	857,100



	Nine Months Ended September 30, 2014
	Merchant Services		Financial Institution Services		Total
Total revenue	$	1,486,991	$	356,427	$	1,843,418
Network fees and other costs	738,440		104,590		843,030
Sales and marketing	260,225		19,959		280,184
Segment profit	$	488,326	$	231,878	$	720,204

A reconciliation of total segment profit to the Company’s income before applicable income taxes is as follows (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Total segment profit	$	297,969		$	269,284		$	857,100		$	720,204
Less: Other operating costs	(66,563		)	(60,659		)	(211,853		)	(177,782		)
Less: General and administrative	(41,492		)	(45,422		)	(136,395		)	(126,580		)
Less: Depreciation and amortization	(70,638		)	(65,289		)	(206,099		)	(204,176		)
Less: Interest expense—net	(27,044		)	(28,039		)	(78,769		)	(52,089		)
Less: Non-operating expenses	(8,308		)	(6,594		)	(23,799		)	(34,250		)
Income before applicable income taxes	$	83,924		$	63,281		$	200,185		$	125,327

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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+ Details

SUBSEQUENT EVENT (Notes)	9 Months Ended
SUBSEQUENT EVENT (Notes)	Sep. 30, 2015
Subsequent Event [Line Items]
Subsequent Events [Text Block]	SUBSEQUENT EVENT On October 23, 2015, the Company entered into a tax receivable purchase addendum with Fifth Third to terminate a portion of its obligations owed to Fifth Third under the Fifth Third TRA and the NPC TRA. Under the terms of the tax receivable purchase addendum, the Company paid approximately $49 million to Fifth Third to settle approximately $140 million of obligations under the Fifth Third TRA and the NPC TRA, the difference of which will be recorded as an addition to paid-in capital. The Company remains obligated to pay remaining amounts due to Fifth Third under the Fifth Third TRA and the NPC TRA not terminated pursuant to the above tax receivable purchase addendum. Since Fifth Third is a stockholder of the Company, a special committee of the Company’s board of directors comprised of independent, disinterested directors authorized the tax receivable purchase addendum. See Note 1 - Basis of Presentation and Summary of Significant Accounting Policies for additional information about the TRAs.

SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES (Policies)

9 Months Ended

Sep. 30, 2015

Accounting Policies [Abstract]

Share Repurchase Program [Policy Text Block]

Share Repurchase Program

Segments

•

Principles of Consolidation

Basis of Presentation and Consolidation

Use of Estimates

Revenue Recognition

The Company generates revenue primarily by processing electronic payment transactions. Set forth below is a description of the Company’s revenue by segment.

Merchant Services

Financial Institution Services

Financial Institution Services provides certain services to Fifth Third. Revenues related to these services are included in the accompanying statements of income as related party revenues.

Expenses

Set forth below is a brief description of the components of the Company’s expenses:


•	Network fees and other costs primarily consist of certain expenses incurred by the Company in connection with providing processing services to its clients which are passed through to its clients, including Visa and MasterCard network association fees, payment network fees, third party processing fees, telecommunication charges, postage and card production costs.


•	Sales and marketing expense primarily consists of salaries and benefits paid to sales personnel, sales management and other sales and marketing personnel, residual payments made to ISOs and referral partners, and advertising and promotional costs.


•	Other operating costs primarily consist of salaries and benefits paid to operational and IT personnel, costs associated with operating the Company’s technology platform and data centers, information technology costs for processing transactions, product development costs, software consulting fees and maintenance costs.


•	General and administrative expenses primarily consist of salaries and benefits paid to executive management and administrative employees, including finance, human resources, product development, legal and risk management, share-based compensation costs, equipment and occupancy costs and consulting costs.


•	Non-operating expenses during 2015 primarily relate to the change in fair value of a tax receivable agreement ("TRA") entered into in June 2014 (see Note 8 - Fair Value Measurements). The amounts for 2014 primarily relate to the refinancing of the Company's senior secured credit facilities in June 2014 and the change in fair value of a TRA entered into in June 2014.

Share-Based Compensation

Earnings Per Share

Stockholders' Equity, Policy [Policy Text Block]

Dividend Restrictions

Income Taxes

Vantiv, Inc. is taxed as a C corporation for U.S. income tax purposes and is therefore subject to both federal and state taxation at a corporate level.

Cash and Cash Equivalents

Accounts Receivable—net

Customer Incentives

Property and Equipment—net

Property, Equipment and Software—net

Goodwill and Intangible Assets

Settlement Assets and Obligations

Derivatives

Tax Receivable Agreements, Policy [Policy Text Block]

Tax Receivable Agreements

New Accounting Pronouncements

BUSINESS COMBINATIONS (Tables) - Mercury Payment Systems, LLC

9 Months Ended

Sep. 30, 2015

Business Acquisition [Line Items]

Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]

The following is the final fair value of the purchase price for Mercury (in thousands):



Cash purchase price paid at closing	$	1,681,179
Fair value of contingent consideration related to a TRA	192,507
Total purchase price	$	1,873,686

Schedule of recognized identified assets acquired and liabilities assumed

The final purchase price allocation is as follows (in thousands):



Cash acquired	$	22,485
Current assets	47,421
Property, equipment and software	32,257
Intangible assets	347,000
Goodwill	1,422,916
Deferred tax assets	43,054
Other non-current assets	767
Current and non-current liabilities	(42,214		)
Total purchase price	$	1,873,686

Business Acquisition, Pro Forma Information [Table Text Block]



	Three Months Ended September 30, 2014		Nine Months Ended September 30, 2014
	(Actual)		(Pro forma)
	(in thousands, except share data)
Total revenue	$	697,109	$	2,003,239
Income from operations	97,914		219,721
Net income including non-controlling interests	42,845		93,056
Net income attributable to Vantiv, Inc.	29,986		61,051
Net income per share attributable to Vantiv, Inc. Class A common stock:
Basic	$	0.21	$	0.43
Diluted	$	0.20	$	0.43
Shares used in computing net income per share of Class A common stock:
Basic	144,632,010		141,127,560
Diluted	199,698,988		199,074,819

The pro forma results include certain pro forma adjustments that were directly attributable to the business combination as follows:


•	additional amortization expense that would have been recognized relating to the acquired intangible assets,


•	an adjustment of interest expense to reflect the additional borrowings of the Company in conjunction with the acquisition and removal of Mercury historical debt, and


•	a reduction in non-operating expenses in the nine months ended September 30, 2014 for acquisition-related transaction costs and debt refinancing costs incurred by the Company.

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

Changes in the carrying amount of goodwill, by business segment, are as follows (in thousands):



	Merchant Services		Financial Institution Services		Total
Balance as of December 31, 2014	$	2,716,516	$	574,850	$	3,291,366
Goodwill attributable to acquisition of Mercury (1)	75,162		—		75,162
Balance as of September 30, 2015	$	2,791,678	$	574,850	$	3,366,528

(1) Amount represents adjustments to goodwill associated with the acquisition of Mercury as a result of the finalization of purchase accounting.

Schedule of intangible assets

As of September 30, 2015 and December 31, 2014, the Company's intangible assets consisted of the following (in thousands):



	September 30, 2015		December 31, 2014
Customer relationship intangible assets	$	1,596,581	$	1,596,581
Trade names - finite lived	21,733		65,833
Customer portfolios and related assets	127,415		57,383
	1,745,729		1,719,797

Less accumulated amortization on:
Customer relationship intangible assets	780,960		655,017
Trade names - finite lived	12,009		5,105
Customer portfolios and related assets	41,920		24,983
	834,889		685,105
	$	910,840	$	1,034,692

Schedule of expected amortization expense

The estimated amortization expense of intangible assets for the next five years is as follows (in thousands):



Three months ending December 31, 2015	$	50,222
2016	191,215
2017	170,681
2018	161,629
2019	153,530
2020	81,470

LONG-TERM DEBT (Tables)

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

Schedule of Company's debt

As of September 30, 2015 and December 31, 2014, the Company’s debt consisted of the following:



	September 30, 2015			December 31, 2014
	(in thousands)
$2,050.0 million term A loan, maturing on June 13, 2019, and bearing interest at a variable base rate (LIBOR) plus a spread rate (200 basis points) (total rate of 2.21% at September 30, 2015) and amortizing on a basis of 1.25% per quarter during each of the first twelve quarters, 1.875% per quarter during the next four quarters and 2.50% during the next three quarters with a balloon payment due at maturity	$	1,921,875		$	1,998,750
$1,400.0 million term B loan, maturing on June 13, 2021, and bearing interest at a variable base rate (LIBOR) with a floor of 75 basis points plus a spread rate (300 basis points) (total rate of 3.75% at September 30, 2015) and amortizing on a basis of 0.25% per quarter, with a balloon payment due at maturity	1,182,500			1,393,000
$10.1 million leasehold mortgage, expiring on August 10, 2021 and bearing interest payable monthly at a fixed rate (rate of 6.22% at September 30, 2015)	10,131			10,131
Less: Current portion of note payable and current portion of note payable to related party	(116,501		)	(116,501		)
Less: Original issue discount	(6,337		)	(8,143		)
Note payable and note payable to related party	$	2,991,668		$	3,277,237

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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+ Details

DERIVATIVES AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of derivative instruments

The table below presents the fair value of the Company’s derivative financial instruments designated as cash flow hedges included within the accompanying consolidated statements of financial position (in thousands):



	Consolidated Statement of Financial Position Location	September 30, 2015		December 31, 2014
Interest rate swaps	Other long-term assets	$	—	$	104
Interest rate swaps	Other current liabilities	10,283		5,205
Interest rate swaps	Other long-term liabilities	15,253		2,283

Schedule of effect of the Company's interest rate swaps on the consolidated statements of income



	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Derivatives in cash flow hedging relationships:
Amount of gain (loss) recognized in OCI (effective portion) (1)	$	(9,686	)	$	2,968		$	(22,838	)	$	(5,865	)
Amount of gain (loss) reclassified from accumulated OCI into earnings (effective portion)	(2,392		)	(1,114		)	(4,685		)	(1,932		)
Amount of gain (loss) recognized in earnings (2)	—			—			—			(2		)


(1)	"OCI" represents other comprehensive income.


(2)	Amount represents hedge ineffectiveness and is recorded as a component of interest expense-net in the accompanying consolidated statement of income.

CONTROLLING AND NON-CONTROLLING INTERESTS IN VANTIV HOLDING (Tables)

9 Months Ended

Sep. 30, 2015

Noncontrolling Interest [Abstract]

Schedule of changes in units and related ownership interest

Changes in units and related ownership interest in Vantiv Holding are summarized as follows:



	Vantiv, Inc.		Fifth Third		Total
As of December 31, 2014	145,455,008		43,042,826		188,497,834
% of ownership	77.17	%	22.83	%
Share repurchases	(3,575,900	)	—		(3,575,900	)
Equity plan activity (a)	940,701		—		940,701
As of September 30, 2015	142,819,809		43,042,826		185,862,635
% of ownership	76.84	%	23.16	%


(a)	Includes stock issued under the equity plans less Class A common stock withheld to satisfy employee tax withholding obligations upon vesting or exercise of employee equity awards and forfeitures of restricted Class A common stock awards.

Schedule of reconciliation of net income (loss) attributable to non-controlling interest

The table below provides a reconciliation of net income attributable to non-controlling interests based on relative ownership interests as discussed above (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Net income	$	59,148	$	42,845	$	138,837	$	87,249
Items not allocable to non-controlling interests:
Vantiv, Inc. expenses (a)	16,158		12,687		36,555		32,501
Vantiv Holding net income	$	75,306	$	55,532	$	175,392	$	119,750
Net income attributable to non-controlling interests of Fifth Third (b)	$	17,152	$	12,695	$	39,523	$	30,071
Net income attributable to PUMS non-controlling interest (c)	504		164		2,297		465
Total net income attributable to non-controlling interests	$	17,656	$	12,859	$	41,820	$	30,536

(a) Primarily represents income tax expense related to Vantiv, Inc.


(c)	Reflects net income attributable to the non-controlling interest of PUMS.

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on recurring basis

The following table summarizes assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014 (in thousands):



	September 30, 2015						December 31, 2014
	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets:
Interest rate swaps	$	—	$	—	$	—	$	—	$	104	$	—
Liabilities:
Interest rate swaps	$	—	$	25,536	$	—	$	—	$	7,488	$	—
Mercury TRA	—		—		183,463		—		—		152,420

Schedule of carrying amounts and estimated fair values for assets and liabilities, excluding assets and liabilities measured at fair value on a recurring basis



	September 30, 2015				December 31, 2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Liabilities:
Note payable	$	3,108,169	$	3,102,729	$	3,393,738	$	3,310,181

NET INCOME PER SHARE (Tables)

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted net income per share

The following table sets forth the computation of basic and diluted net income per share (in thousands, except share data):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Basic:
Net income attributable to Vantiv, Inc.	$	41,492	$	29,986	$	97,017	$	56,713
Shares used in computing basic net income per share:
Weighted-average Class A common shares	145,015,310		144,632,010		145,039,413		141,127,560
Basic net income per share	$	0.29	$	0.21	$	0.67	$	0.40
Diluted:
Consolidated income before applicable income taxes	$	83,924	$	63,281	$	200,185	$	125,327
Income tax expense excluding impact of non-controlling interest	30,213		23,098		72,067		45,744
Net income attributable to Vantiv, Inc.	$	53,711	$	40,183	$	128,118	$	79,583
Shares used in computing diluted net income per share:	0
Weighted-average Class A common shares	145,015,310		144,632,010		145,039,413		141,127,560
Weighted-average Class B units of Vantiv Holding	43,042,826		43,042,826		43,042,826		46,282,167
Warrant	12,826,059		10,349,050		12,124,954		10,058,028
Restricted stock awards	517,379		1,140,561		743,307		1,352,914
Stock options	497,450		534,541		533,152		254,150
Diluted weighted-average shares outstanding	201,899,024		199,698,988		201,483,652		199,074,819
Diluted net income per share	$	0.27	$	0.20	$	0.64	$	0.40

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Sep. 30, 2015

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of activity of the components of accumulated other comprehensive income (loss)



				Total Other Comprehensive Income (Loss)
	AOCI Beginning Balance			Pretax Activity			Tax Effect			Net Activity			Attributable to non-controlling interests			Attributable to Vantiv, Inc.			AOCI Ending Balance
Three months ended September 30, 2015
Net change in fair value recorded in accumulated OCI	$	(11,606	)	$	(9,686	)	$	2,814		$	(6,872	)	$	2,235		$	(4,637	)	$	(16,243	)
Net realized loss reclassified into earnings (a)	2,831			2,392			(693		)	1,699			(554		)	1,145			3,976
Other	(212		)	—			—			—			—			—			(212		)
Net change	$	(8,987	)	$	(7,294	)	$	2,121		$	(5,173	)	$	1,681		$	(3,492	)	$	(12,479	)

Three months ended September 30, 2014
Net change in fair value recorded in accumulated OCI	$	(4,120	)	$	2,968		$	(856	)	$	2,112		$	(675	)	$	1,437		$	(2,683	)
Net realized loss reclassified into earnings (a)	658			1,114			(321		)	793			(254		)	539			1,197
Other	4			(70		)	—			(70		)	—			(70		)	(66		)
Net change	$	(3,458	)	$	4,012		$	(1,177	)	$	2,835		$	(929	)	$	1,906		$	(1,552	)

Nine months ended September 30, 2015
Net change in fair value recorded in accumulated OCI	$	(5,288	)	$	(22,838	)	$	6,645		$	(16,193	)	$	5,238		$	(10,955	)	$	(16,243	)
Net realized loss reclassified into earnings (a)	1,732			4,685			(1,365		)	3,320			(1,076		)	2,244			3,976
Other	(212		)	—			—			—			—			—			(212		)
Net change	$	(3,768	)	$	(18,153	)	$	5,280		$	(12,873	)	$	4,162		$	(8,711	)	$	(12,479	)

Nine months ended September 30, 2014
Net change in fair value recorded in accumulated OCI	$	(5	)	$	(5,865	)	$	1,569		$	(4,296	)	$	1,618		$	(2,678	)	$	(2,683	)
Net realized loss reclassified into earnings (a)	269			1,932			(554		)	1,378			(450		)	928			1,197
Other	—			(66		)	—			(66		)	—			(66		)	(66		)
Net change	$	264		$	(3,999	)	$	1,015		$	(2,984	)	$	1,168		$	(1,816	)	$	(1,552	)

(a) The reclassification adjustment on cash flow hedge derivatives affected the following lines in the accompanying consolidated statements of income:



OCI Component		Affected line in the accompanying consolidated statements of income
Pretax activity(1)		Interest expense-net
Tax effect		Income tax expense
OCI attributable to non-controlling interests		Net income attributable to non-controlling interests

(1) The three months and nine months ended September 30, 2015 and 2014 reflect amounts of losses reclassified from AOCI into earnings, representing the effective portion of the hedging relationships, and is recorded in interest expense-net.

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Schedule of results of operations for each segment



	Three Months Ended September 30, 2015
	Merchant Services		Financial Institution Services		Total
Total revenue	$	687,394	$	128,604	$	815,998
Network fees and other costs	342,518		43,030		385,548
Sales and marketing	126,400		6,081		132,481
Segment profit	$	218,476	$	79,493	$	297,969



	Three Months Ended September 30, 2014
	Merchant Services		Financial Institution Services		Total
Total revenue	$	580,082	$	117,027	$	697,109
Network fees and other costs	282,431		34,161		316,592
Sales and marketing	104,460		6,773		111,233
Segment profit	$	193,191	$	76,093	$	269,284



	Nine Months Ended September 30, 2015
	Merchant Services		Financial Institution Services		Total
Total revenue	$	1,935,364	$	372,240	$	2,307,604
Network fees and other costs	962,714		116,329		1,079,043
Sales and marketing	353,435		18,026		371,461
Segment profit	$	619,215	$	237,885	$	857,100



	Nine Months Ended September 30, 2014
	Merchant Services		Financial Institution Services		Total
Total revenue	$	1,486,991	$	356,427	$	1,843,418
Network fees and other costs	738,440		104,590		843,030
Sales and marketing	260,225		19,959		280,184
Segment profit	$	488,326	$	231,878	$	720,204

Schedule of reconciliation of total segment profit to the company's income before applicable income taxes

A reconciliation of total segment profit to the Company’s income before applicable income taxes is as follows (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Total segment profit	$	297,969		$	269,284		$	857,100		$	720,204
Less: Other operating costs	(66,563		)	(60,659		)	(211,853		)	(177,782		)
Less: General and administrative	(41,492		)	(45,422		)	(136,395		)	(126,580		)
Less: Depreciation and amortization	(70,638		)	(65,289		)	(206,099		)	(204,176		)
Less: Interest expense—net	(27,044		)	(28,039		)	(78,769		)	(52,089		)
Less: Non-operating expenses	(8,308		)	(6,594		)	(23,799		)	(34,250		)
Income before applicable income taxes	$	83,924		$	63,281		$	200,185		$	125,327

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended	9 Months Ended
	Oct. 28, 2015	Jun. 30, 2009	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Feb. 12, 2014
Nature of Business [Line Items]
Stock Repurchased and Retired During Period, Value				$ 161,156	$ 34,366
Sponsorship agreement
Sponsorship agreement term		10 years
Vantiv Holding
Nature of Business [Line Items]
Ownership percentage by parent			76.84%	76.84%		77.17%
Fifth Third \| Vantiv Holding
Nature of Business [Line Items]
Ownership percentage by noncontrolling owners			23.16%	23.16%		22.83%
Class A Common Stock \| February 2014 Authorized Share Repurchase Program [Member]
Nature of Business [Line Items]
Stock Repurchase Program, Authorized Amount							$ 300,000
Stock Repurchased and Retired During Period, Shares			3,600,000	3,600,000
Stock Repurchased and Retired During Period, Value			$ 161,200	$ 161,200
Subsequent Event [Member] \| Class A Common Stock \| February 2014 Authorized Share Repurchase Program [Member]
Nature of Business [Line Items]
Stock Repurchased and Retired During Period, Shares	870,000
Stock Repurchased and Retired During Period, Value	$ 39,300
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 75,000

SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES Share-Based Compensation (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation [Abstract]
Allocated Share-based Compensation Expense	$ 23.9	$ 30.8

SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES Income Taxes (Details) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Income Taxes [Abstract]
Deferred Tax Assets, Valuation Allowance	$ 0		$ 0
Effective Income Tax Rate Reconciliation, Percent	30.60%	30.40%

SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES Property, Equipment and Software- net (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 229.7	$ 202.8
Building and improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	15 years
Building and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	40 years
Furniture and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	2 years
Furniture and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	10 years
Software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	10 years
Software development \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Software development \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years

SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Goodwill and Intangible Assets [Abstract]
Write-off of intangible asset	$ 34,300	$ 0	$ 34,267

SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES Tax Receivable Agreements (Details) - USD ($) $ in Thousands	1 Months Ended		9 Months Ended
	Jul. 24, 2015	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Tax receivable agreement
Payments to settle certain tax receivable agreements			$ 44,800	$ 0
Tax Receivable Agreement, Cash Savings Percent			15.00%
Payments Under Tax Receivable Agreements		$ 22,800	$ 22,805	$ 8,639
Fifth Third
Tax receivable agreement
Payments to pre-IPO investors as percentage of cash saving in income tax			85.00%
Mercury Payment Systems, LLC
Tax receivable agreement
Tax Receivable Agreement Payments as Percentage of Cash Savings in Tax			85.00%
Mercury Payment Systems, LLC
Tax receivable agreement
Payments to settle certain tax receivable agreements	$ 44,800
First Call Option [Member] \| Call Option [Member] \| Mercury Payment Systems, LLC
Tax receivable agreement
Payments to settle certain tax receivable agreements	41,400
Second Call Option [Member] \| Call Option [Member] \| Mercury Payment Systems, LLC
Tax receivable agreement
Payments to settle certain tax receivable agreements	38,100
Third Call Option [Member] \| Call Option [Member] \| Mercury Payment Systems, LLC
Tax receivable agreement
Payments to settle certain tax receivable agreements	38,000
Fourth Call Option [Member] \| Call Option [Member] \| Mercury Payment Systems, LLC
Tax receivable agreement
Payments to settle certain tax receivable agreements	43,000
President [Member] \| Minimum \| Mercury Payment Systems, LLC
Tax receivable agreement
Payments to settle certain tax receivable agreements	600
President [Member] \| Maximum \| Mercury Payment Systems, LLC
Tax receivable agreement
Payments to settle certain tax receivable agreements	$ 2,200

BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	Jun. 13, 2014	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Business Acquisition [Line Items]
Contingent consideration for issuance of tax receivable agreement		$ 0		$ 137,120
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest [Abstract]
Goodwill		$ 3,366,528	$ 3,291,366
Mercury Payment Systems, LLC
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 1,681,179
Contingent consideration for issuance of tax receivable agreement	192,507
Business Combination, Consideration Transferred	1,873,686
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest [Abstract]
Cash acquired	22,485
Current assets	47,421
Property and equipment	32,257
Intangible assets	347,000
Goodwill	1,422,916
Deferred tax assets	43,054
Non-current assets	767
Current and non-current liabilities	(42,214)
Total purchase price	$ 1,873,686
Business Acquisition, Percentage of Voting Interests Acquired	100.00%
Trade names - finite lived \| Mercury Payment Systems, LLC
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 15,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	2 years 6 months
Trade names - finite lived \| Previously Reported \| Mercury Payment Systems, LLC
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 59,100
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	9 years 6 months

BUSINESS COMBINATIONS Pro Forma (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Revenue	$ 697,109	$ 2,003,239
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax	97,914	219,721
Business Acquisition Pro forma Net Income Loss Including Portion Attributable To Noncontrolling Interest	42,845	93,056
Business Acquisition, Pro Forma Net Income (Loss)	$ 29,986	$ 61,051
Net income per share attributable to Vantiv, Inc. Class A common stock [Abstract]
Business Acquisition, Pro Forma Earnings Per Share, Basic (in dollars per share)	$ 0.21	$ 0.43
Business Acquisition, Pro Forma Earnings Per Share, Diluted (in dollars per share)	$ 0.20	$ 0.43
Shares used in computing net income per share of Class A common stock [Abstract]
Pro Forma Weighted Average Shares Outstanding, Basic (in shares)	144,632,010	141,127,560
Pro Forma Weighted Average Shares Outstanding, Diluted (in shares)	199,698,988	199,074,819

GOODWILL AND INTANGIBLE ASSETS - Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015 USD ($)
Goodwill [Roll Forward]
Goodwill at beginning of period	$ 3,291,366
Goodwill at end of period	3,366,528
Merchant Services
Goodwill [Roll Forward]
Goodwill at beginning of period	2,716,516
Goodwill at end of period	2,791,678
Financial Institution Services
Goodwill [Roll Forward]
Goodwill at beginning of period	574,850
Goodwill at end of period	574,850
Mercury Payment Systems, LLC
Goodwill [Roll Forward]
Goodwill attributable to acquisition	75,162
Mercury Payment Systems, LLC \| Merchant Services
Goodwill [Roll Forward]
Goodwill attributable to acquisition	75,162
Mercury Payment Systems, LLC \| Financial Institution Services
Goodwill [Roll Forward]
Goodwill attributable to acquisition	$ 0

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		$ 1,745,729			$ 1,745,729		$ 1,719,797
Finite-Lived Intangible Assets, Accumulated Amortization		834,889			834,889		685,105
Intangible assets—net		910,840			910,840		1,034,692
Write-off of intangible asset				$ 34,300	0	$ 34,267
Finite-Lived Trade Names, Gross	$ 6,700			$ 6,700
Finite-Lived Intangible Assets, Remaining Amortization Period	2 years
Amortization expense on intangible assets		51,000	$ 47,100		149,800	$ 152,100
Estimated amortization expense of intangible assets for the next five years
Three months ending December 31, 2015		50,222			50,222
2016		191,215			191,215
2017		170,681			170,681
2018		161,629			161,629
2019		153,530			153,530
2020		81,470			81,470
Customer relationship intangible assets
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		1,596,581			1,596,581		1,596,581
Finite-Lived Intangible Assets, Accumulated Amortization		780,960			780,960		655,017
Trade names - finite lived
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		21,733			21,733		65,833
Finite-Lived Intangible Assets, Accumulated Amortization		12,009			12,009		5,105
Customer portfolios and related assets
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross		127,415			127,415		57,383
Finite-Lived Intangible Assets, Accumulated Amortization		$ 41,920			$ 41,920		$ 24,983
Estimated remaining weighted-average lives of intangible assets					4 years 10 months 15 days

LONG-TERM DEBT (Details) - USD ($)			9 Months Ended
LONG-TERM DEBT (Details) - USD ($)	Jan. 06, 2015	Jun. 13, 2014	Sep. 30, 2015	Dec. 31, 2014
Long-term debt
Less: Current portion of note payable and current portion of note payable to related party			$ (116,501,000)	$ (116,501,000)
Less: Original issue discount			(6,337,000)	(8,143,000)
Note payable and note payable to related party			2,991,668,000	3,277,237,000
Revolving credit facility
Long-term debt
Long-term Line of Credit			0
Term loan for corporate headquarters
Long-term debt
Long-term Debt, Gross			10,131,000	10,131,000
Face value of debt			$ 10,100,000
Interest rate (as a percent)			6.22%
June 2014 Debt Refinancing \| Term A loan
Long-term debt
Long-term Debt, Gross			$ 1,921,875,000	1,998,750,000
Face value of debt		$ 2,050,000,000.00
Interest rate (as a percent)			2.21%
Variable base rate		LIBOR
Spread rate (as a percent)		2.00%
June 2014 Debt Refinancing \| Term A loan \| First Twelve Quarters
Long-term debt
Amortization rate during given period (as a percent)		1.25%
June 2014 Debt Refinancing \| Term A loan \| Second Four Quarters
Long-term debt
Amortization rate during given period (as a percent)		1.875%
June 2014 Debt Refinancing \| Term A loan \| Following three quarters
Long-term debt
Amortization rate during given period (as a percent)		2.50%
June 2014 Debt Refinancing \| Term B loan
Long-term debt
Long-term Debt, Gross			$ 1,182,500,000	1,393,000,000
Face value of debt		$ 1,400,000,000.0
Interest rate (as a percent)			3.75%
Repayments of Debt	$ 200,000,000
Variable base rate		LIBOR
Spread rate (as a percent)		3.00%
Unamortized deferred financing cost written off	$ 1,800,000
June 2014 Debt Refinancing \| Term B loan \| Quarterly Amortization
Long-term debt
Amortization rate during given period (as a percent)		0.25%
June 2014 Debt Refinancing \| Term B loan \| Minimum
Long-term debt
Spread rate (as a percent)		0.75%
June 2014 Debt Refinancing \| Revolving credit facility
Long-term debt
Maximum borrowing capacity		$ 425,000,000
Commitment fees (as a percent)		0.375%
June 2014 Debt Refinancing \| Swing line credit facility
Long-term debt
Maximum borrowing capacity		$ 100,000,000
June 2014 Debt Refinancing \| Letter of credit facility
Long-term debt
Maximum borrowing capacity		40,000,000
June 2014 Debt Refinancing \| Fifth Third \| Term A loan
Long-term debt
Loan held by Fifth Third Bank			$ 194,100,000	$ 201,900,000
May 2013 Debt Refinancing \| Term A loan
Long-term debt
Repayments of Debt		$ 1,800,000,000
New Loan Agreement
Long-term debt
Percentage of capital stock of the entity's domestic and foreign subsidiaries pledged as collateral for borrowings			65.00%
Minimum aggregate value of real property held by obligors provided as security on first priority basis			$ 10,000,000

DERIVATIVES AND HEDGING ACTIVITIES (Details) $ in Thousands	3 Months Ended		9 Months Ended
DERIVATIVES AND HEDGING ACTIVITIES (Details) $ in Thousands	Sep. 30, 2015 USD ($) swap	Sep. 30, 2014 USD ($)	Sep. 30, 2015 USD ($) swap	Sep. 30, 2014 USD ($)	Dec. 31, 2014 USD ($)
Cash Flow Hedges of Interest Rate Risk
Derivative, Number of Instruments Held \| swap	14		14
Notional Amount of Amortized Interest Rate Cash Flow Hedge Derivatives	$ 1,100,000		$ 1,100,000
Fair value of the Company's derivative financial instruments designated as cash flow hedges
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			11,100
Derivatives in cash flow hedging relationships:
Amount of gain (loss) recognized in OCI (effective portion)	(9,686)	$ 2,968	(22,838)	$ (5,865)
Amount of loss reclassified from accumulated OCI into earnings (effective portion)	(2,392)	(1,114)	(4,685)	(1,932)
Gain (Loss) on Interest Rate Cash Flow Hedge Ineffectiveness	0	$ 0	0	$ (2)
Derivative, Net Liability Position, Aggregate Fair Value	$ 27,200		$ 27,200
Fifth Third
Cash Flow Hedges of Interest Rate Risk
Derivative, Number of Instruments Held \| swap	5		5
Maximum \| Fifth Third
Cash Flow Hedges of Interest Rate Risk
Notional Amount	$ 293,800		$ 293,800
Minimum \| Fifth Third
Cash Flow Hedges of Interest Rate Risk
Notional Amount	$ 250,000		$ 250,000
June 2015 through June 2017
Cash Flow Hedges of Interest Rate Risk
Derivative, Number of Instruments Held \| swap	8		8
Notional Amount	$ 1,200,000		$ 1,200,000
January 2016 through January 2019
Cash Flow Hedges of Interest Rate Risk
Derivative, Number of Instruments Held \| swap	6		6
Notional Amount	$ 500,000		$ 500,000
Other Noncurrent Assets
Fair value of the Company's derivative financial instruments designated as cash flow hedges
Interest Rate Cash Flow Hedge Asset at Fair Value	0		0		$ 104
Other Current Liabilities
Fair value of the Company's derivative financial instruments designated as cash flow hedges
Interest Rate Cash Flow Hedge Liability at Fair Value	10,283		10,283		5,205
Other Noncurrent Liabilities
Fair value of the Company's derivative financial instruments designated as cash flow hedges
Interest Rate Cash Flow Hedge Liability at Fair Value	$ 15,253		$ 15,253		$ 2,283

CONTROLLING AND NON-CONTROLLING INTERESTS OWNERSHIP INTERESTS IN JOINT VENTURE (Details) - People’s United Merchant Services	May 31, 2014
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Vantiv Holding	51.00%
Peoples United Bank
Noncontrolling Interest [Line Items]
Ownership percentage by noncontrolling owners	49.00%

CONTROLLING AND NON-CONTROLLING INTERESTS IN VANTIV HOLDING (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2009	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net Income (Loss) Attributable to Noncontrolling Interest [Abstract]
Net income		$ 59,148	$ 42,845	$ 138,837	$ 87,249
Items not allocable to non-controlling interests:
Net income attributable to non-controlling interests		$ 17,656	12,859	$ 41,820	30,536
Vantiv Holding
Changes in units and related ownership interest
Balance (in shares)				188,497,834
Opening percentage of ownership by parent				77.17%
Equity Plan Activity, Shares				940,701
Balance (in shares)		185,862,635		185,862,635
Closing percentage of ownership by parent		76.84%		76.84%
Adjustment to net assets attributable to non-controlling interest as a result of change in ownership interest		$ 33,800	52,800	$ 33,800	52,800
Vantiv, Inc.
Items not allocable to non-controlling interests:
Vantiv, Inc. expenses		$ 16,158	12,687	$ 36,555	32,501
Vantiv, Inc. \| Vantiv Holding
Changes in units and related ownership interest
Balance (in shares)				145,455,008
Equity Plan Activity, Shares				940,701
Balance (in shares)		142,819,809		142,819,809
Warrant \| Fifth Third
Changes in units and related ownership interest
Price per unit minus exercise price threshold restriction	$ 0
Warrant price (in dollars per share)	$ 15.98
Warrant fair value	$ 65,400
Vantiv Holding
Items not allocable to non-controlling interests:
Net income attributable to Vantiv Holding		$ 75,306	55,532	$ 175,392	119,750
Net income attributable to non-controlling interests		17,656	12,859	41,820	30,536
Vantiv Holding \| Peoples United Bank
Items not allocable to non-controlling interests:
Net income attributable to non-controlling interests		504	164	2,297	465
Vantiv Holding \| Fifth Third
Items not allocable to non-controlling interests:
Net income attributable to non-controlling interests		$ 17,152	$ 12,695	$ 39,523	$ 30,071
Fifth Third \| Vantiv Holding
Changes in units and related ownership interest
Balance (in shares)				43,042,826
Opening percentage of ownership, non-controlling interest				22.83%
Balance (in shares)		43,042,826		43,042,826
Closing percentage of ownership, non-controlling interest		23.16%		23.16%
Class A Common Stock
Changes in units and related ownership interest
Balance (in shares)				145,455,008
Balance (in shares)		142,819,809		142,819,809
Class A Common Stock \| Vantiv Holding
Controlling and non-controlling interests in Vantiv Holding
Stock Repurchased During Period, Shares				(3,575,900)
Class A Common Stock \| Vantiv, Inc. \| Vantiv Holding
Controlling and non-controlling interests in Vantiv Holding
Stock Repurchased During Period, Shares				(3,575,900)
Class C Non-Voting Units \| Vantiv Holding \| Warrant \| Fifth Third
Changes in units and related ownership interest
Warrants issued (in shares)	20,400,000

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Recurring basis \| Level 1 \| Interest rate swaps
Assets:
Interest Rate Cash Flow Hedge Asset at Fair Value	$ 0		$ 0		$ 0
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	0		0		0
Recurring basis \| Level 2 \| Interest rate swaps
Assets:
Interest Rate Cash Flow Hedge Asset at Fair Value	0		0		104
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	25,536		25,536		7,488
Recurring basis \| Level 3 \| Interest rate swaps
Assets:
Interest Rate Cash Flow Hedge Asset at Fair Value	0		0		0
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	0		0		0
Mercury Payment Systems, LLC
Assets and liabilities measured at fair value on a recurring basis
Tax Receivable Agreements Change in Value	7,500	$ 6,500	21,200	$ 7,700
Mercury Payment Systems, LLC \| Recurring basis \| Level 1
Liabilities:
Tax Receivable Agreements Obligation	0		0		0
Mercury Payment Systems, LLC \| Recurring basis \| Level 2
Liabilities:
Tax Receivable Agreements Obligation	0		0		0
Mercury Payment Systems, LLC \| Recurring basis \| Level 3
Liabilities:
Tax Receivable Agreements Obligation	$ 183,463		$ 183,463		$ 152,420

FAIR VALUE MEASUREMENTS (Details 2) - Non-recurring basis - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Carrying Amount
Liabilites:
Note payable	$ 3,108,169	$ 3,393,738
Fair Value
Liabilites:
Note payable	$ 3,102,729	$ 3,310,181

NET INCOME PER SHARE (Narrative) (Details)	9 Months Ended
NET INCOME PER SHARE (Narrative) (Details)	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Adjusted Effective Tax Rate	36.00%	36.50%

NET INCOME PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Basic:
Net income attributable to Vantiv, Inc.	$ 41,492	$ 29,986	$ 97,017	$ 56,713
Diluted:
Income before applicable income taxes	83,924	63,281	200,185	125,327
Income tax expense excluding impact of non-controlling interest	$ 30,213	$ 23,098	$ 72,067	$ 45,744
Class A Common Stock
Basic and diluted net income per share
Common Stock, Shares, Outstanding	142,819,809		142,819,809		145,455,008
Shares used in computing basic net income per share:
Weighted-average Class A common shares (in shares)	145,015,310	144,632,010	145,039,413	141,127,560
Basic net income per share (in dollars per share)	$ 0.29	$ 0.21	$ 0.67	$ 0.40
Diluted:
Net income attributable to Vantiv, Inc.	$ 53,711	$ 40,183	$ 128,118	$ 79,583
Shares used in computing diluted net income per share:
Weighted-average common shares (in shares)	145,015,310	144,632,010	145,039,413	141,127,560
Warrant (in shares)	12,826,059	10,349,050	12,124,954	10,058,028
Diluted weighted-average shares outstanding (in shares)	201,899,024	199,698,988	201,483,652	199,074,819
Diluted net income per share (in dollars per share)	$ 0.27	$ 0.20	$ 0.64	$ 0.40
Class A Common Stock \| Restricted Stock
Shares used in computing diluted net income per share:
Class A common stock equivalents included in the computation of diluted net income per share (in shares)	517,379	1,140,561	743,307	1,352,914
Class A Common Stock \| Employee Stock Option
Shares used in computing diluted net income per share:
Class A common stock equivalents included in the computation of diluted net income per share (in shares)	497,450	534,541	533,152	254,150
Class B Common Stock
Basic and diluted net income per share
Common Stock, Shares, Outstanding	43,042,826	43,042,826	43,042,826	43,042,826	43,042,826
Shares used in computing diluted net income per share:
Weighted-average common shares (in shares)	43,042,826	43,042,826	43,042,826	46,282,167
Capital Unit, Class B [Member] \| Vantiv Holding \| Class A Common Stock
Shares used in computing diluted net income per share:
Conversion ratio for conversion of units into common stock	1		1

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax			$ (3,768)
Net activity	$ (5,173)	$ 2,835	(12,873)	$ (2,984)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(12,479)		(12,479)
Accumulated Net Gain (Loss) from Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax	(11,606)	(4,120)	(5,288)	(5)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(16,243)	(2,683)	(16,243)	(2,683)
Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss), Net of Tax	2,831	658	1,732	269
Accumulated Other Comprehensive Income (Loss), Net of Tax	3,976	1,197	3,976	1,197
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(212)	4	(212)	0
Accumulated Other Comprehensive Income (Loss), Net of Tax	(212)	(66)	(212)	(66)
Accumulated Other Comprehensive Income
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(9,686)	2,968	(22,838)	(5,865)
Other Comprehensive Income (Loss) before Reclassifications, Tax	2,814	(856)	6,645	1,569
Other Comprehensive Income (Loss), Unrealized Gain (Loss), Net of Tax	(6,872)	2,112	(16,193)	(4,296)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	2,392	1,114	4,685	1,932
Reclassification from AOCI, Current Period, Tax	(693)	(321)	(1,365)	(554)
Reclassification from AOCI, Net of Tax	(1,699)	(793)	(3,320)	(1,378)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax	0	(70)	0	(66)
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	0	0	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	0	(70)	0	(66)
Pretax activity	(7,294)	4,012	(18,153)	(3,999)
Tax effect	2,121	(1,177)	5,280	1,015
Net activity	(5,173)	2,835	(12,873)	(2,984)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss), Net of Tax	(8,987)	(3,458)	(3,768)	264
Other Comprehensive Income (Loss), Unrealized Gain (Loss), Net of Tax	(4,637)	1,437	(10,955)	(2,678)
Reclassification from AOCI, Net of Tax	(1,145)	(539)	(2,244)	(928)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	0	(70)	0	(66)
Net activity	(3,492)	1,906	(8,711)	(1,816)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(12,479)	(1,552)	(12,479)	(1,552)
Non-Controlling Interests
Other Comprehensive Income (Loss), Unrealized Gain (Loss), Net of Tax	(2,235)	675	(5,238)	(1,618)
Reclassification from AOCI, Net of Tax	(554)	(254)	(1,076)	(450)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	0	0	0	0
Net activity	$ (1,681)	$ 929	$ (4,162)	$ (1,168)

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Result of operation for each segment
Total revenue	$ 815,998	$ 697,109	$ 2,307,604	$ 1,843,418
Network fees and other costs	385,548	316,592	1,079,043	843,030
Sales and marketing	132,481	111,233	371,461	280,184
Segment profit	297,969	269,284	857,100	720,204
Operating Segments \| Merchant Services
Result of operation for each segment
Total revenue	687,394	580,082	1,935,364	1,486,991
Network fees and other costs	342,518	282,431	962,714	738,440
Sales and marketing	126,400	104,460	353,435	260,225
Segment profit	218,476	193,191	619,215	488,326
Operating Segments \| Financial Institution Services
Result of operation for each segment
Total revenue	128,604	117,027	372,240	356,427
Network fees and other costs	43,030	34,161	116,329	104,590
Sales and marketing	6,081	6,773	18,026	19,959
Segment profit	$ 79,493	$ 76,093	$ 237,885	$ 231,878

SEGMENT INFORMATION (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
SEGMENT INFORMATION (Details 2) - USD ($) $ in Thousands	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reconciliation of total segment profit to the company's (loss) income before applicable income taxes
Total segment profit	$ 297,969	$ 269,284	$ 857,100	$ 720,204
Less: Other operating costs	(66,563)	(60,659)	(211,853)	(177,782)
Less: General and administrative	(41,492)	(45,422)	(136,395)	(126,580)
Less: Depreciation and amortization	(70,638)	(65,289)	(206,099)	(204,176)
Less: Interest expense—net	(27,044)	(28,039)	(78,769)	(52,089)
Less: Non-operating expenses	(8,308)	(6,594)	(23,799)	(34,250)
Income before applicable income taxes	$ 83,924	$ 63,281	$ 200,185	$ 125,327

SUBSEQUENT EVENT (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
SUBSEQUENT EVENT (Details) - USD ($) $ in Thousands	Oct. 23, 2015	Sep. 30, 2015	Sep. 30, 2014
Subsequent Event [Line Items]
Payments to settle certain tax receivable agreements		$ 44,800	$ 0
Fifth Third \| Subsequent Event [Member]
Subsequent Event [Line Items]
Payments to settle certain tax receivable agreements	$ 49,000
Tax Receivable Agreement Obligations Settled As a Result of Prepayment	$ 140,000