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DOCUMENT AND ENTITY INFORMATION - USD ($) $ in Billions	12 Months Ended
DOCUMENT AND ENTITY INFORMATION - USD ($) $ in Billions	Dec. 31, 2016	Jun. 30, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Vantiv, Inc.
Entity Central Index Key	0001533932
Document Type	10-K
Document Period End Date	Dec. 31, 2016
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	2016
Document Fiscal Period Focus	FY
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Public Float		$ 8.8
Class A Common Stock
Entity Information
Entity Common Stock, Shares Outstanding (in shares)	161,134,831
Class B Common Stock
Entity Information
Entity Common Stock, Shares Outstanding (in shares)	35,042,826

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue:
External customers	$ 3,504,129	$ 3,079,506	$ 2,496,899
Related party revenues	74,862	80,432	80,304
Total revenue	3,578,991	3,159,938	2,577,203
Network fees and other costs	1,674,230	1,478,202	1,174,665
Sales and marketing	582,251	503,949	396,353
Other operating costs	294,235	284,066	242,439
General and administrative	189,707	182,369	173,986
Depreciation and amortization	270,054	276,942	275,069
Income from operations	568,514	434,410	314,691
Interest expense—net	(109,534)	(105,736)	(79,701)
Non-operating income (expense)	(36,256)	(31,268)	177
Income before applicable income taxes	422,724	297,406	235,167
Income tax expense	141,853	88,177	66,177
Net income	280,871	209,229	168,990
Less: Net income attributable to non-controlling interests	(67,663)	(61,283)	(43,698)
Net income attributable to Vantiv, Inc.	$ 213,208	$ 147,946	$ 125,292
Class A Common Stock
Net income per share attributable to Vantiv, Inc. Class A common stock:
Basic (in dollars per share)	$ 1.37	$ 1.02	$ 0.88
Diluted (in dollars per share)	$ 1.32	$ 0.95	$ 0.75
Shares used in computing net income per share of Class A common stock:
Basic (in shares)	156,043,636	145,044,577	141,936,933
Diluted (in shares)	162,115,549	200,934,442	199,170,813

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 280,871	$ 209,229	$ 168,990
Other comprehensive income (loss), net of tax:
Gain (loss) on cash flow hedges and other	4,053	(8,209)	(6,172)
Comprehensive income	284,924	201,020	162,818
Less: Comprehensive income attributable to non-controlling interests	(68,709)	(58,510)	(41,558)
Comprehensive income attributable to Vantiv, Inc.	$ 216,215	$ 142,510	$ 121,260

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 139,148	$ 197,096
Accounts receivable—net	940,052	680,033
Related party receivable	1,751	3,999
Settlement assets	152,490	143,563
Prepaid expenses	39,229	31,147
Other	15,188	61,661
Total current assets	1,287,858	1,117,499
Customer incentives	67,288	57,984
Property, equipment and software—net	348,553	308,009
Intangible assets—net	787,820	863,066
Goodwill	3,738,589	3,366,528
Deferred taxes	771,139	731,622
Other assets	42,760	20,718
Total assets	7,044,007	6,465,426
Current liabilities:
Accounts payable and accrued expenses	471,979	364,878
Related party payable	3,623	4,698
Settlement obligations	801,381	677,502
Current portion of note payable to related party	7,557	10,353
Current portion of note payable	123,562	106,148
Current portion of tax receivable agreement obligations to related parties	191,014	31,232
Current portion of tax receivable agreement obligations	60,400	64,227
Deferred income	7,907	14,470
Current maturities of capital lease obligations	7,870	7,931
Other	13,719	13,940
Total current liabilities	1,689,012	1,295,379
Long-term liabilities:
Note payable to related party	143,577	181,169
Note payable	2,946,026	2,762,469
Tax receivable agreement obligations to related parties	451,318	801,829
Tax receivable agreement obligations	86,640	126,980
Capital lease obligations	13,223	21,801
Deferred taxes	62,148	15,836
Other	44,774	34,897
Total long-term liabilities	3,747,706	3,944,981
Total liabilities	5,436,718	5,240,360
Commitments and contingencies (See Note 10 - 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	706,055	553,145
Retained earnings	689,512	476,304
Accumulated other comprehensive loss	(6,197)	(9,204)
Treasury stock, at cost; 2,710,195 shares at December 31, 2016 and 2,593,242 shares at December 31, 2015	(73,706)	(67,458)
Total Vantiv, Inc. equity	1,315,665	952,788
Non-controlling interests	291,624	272,278
Total equity	1,607,289	1,225,066
Total liabilities and equity	7,044,007	6,465,426
Class A Common Stock
Equity:
Class A common stock, $0.00001 par value; 890,000,000 shares authorized; 161,134,831 shares outstanding at December 31, 2016; 155,488,326 shares outstanding at December 31, 2015, Class B common stock, no par value; 100,000,000 shares authorized; 35,042,826 shares issued and outstanding at December 31, 2016 and 2015, respectively	1	1
Class B Common Stock
Equity:
Class A common stock, $0.00001 par value; 890,000,000 shares authorized; 161,134,831 shares outstanding at December 31, 2016; 155,488,326 shares outstanding at December 31, 2015, Class B common stock, no par value; 100,000,000 shares authorized; 35,042,826 shares issued and outstanding at December 31, 2016 and 2015, respectively	$ 0	$ 0

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
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)	2,710,195	2,593,242
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)	161,134,831	155,488,326
Class B Common Stock
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	35,042,826	35,042,826
Common stock, shares outstanding (in shares)	35,042,826	35,042,826

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Operating Activities:
Net income	$ 280,871	$ 209,229	$ 168,990
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	270,054	276,942	240,802
Write-off of intangible asset	0	0	(34,267)
Amortization of customer incentives	25,818	18,256	12,032
Amortization and write-off of debt issuance costs	22,584	8,376	31,956
Share-based compensation expense	35,871	30,492	42,171
Deferred taxes	79,668	55,280	32,469
Excess tax benefit from share-based compensation	(12,167)	(16,707)	(13,420)
Tax receivable agreements non-cash items	19,527	28,171	(25,838)
Other	467	(945)	0
Change in operating assets and liabilities:
Accounts receivable and related party receivable	(212,862)	(70,194)	(94,326)
Net settlement assets and obligations	79,719	168,319	157,663
Customer incentives	(42,548)	(32,892)	(17,108)
Prepaid and other assets	39,636	11,324	(25,557)
Accounts payable and accrued expenses	92,749	57,861	53,172
Payable to related party	(1,075)	2,663	(433)
Other liabilities	(9,722)	11,703	(3,935)
Net cash provided by operating activities	668,590	757,878	592,905
Investing Activities:
Purchases of property and equipment	(118,194)	(84,730)	(103,179)
Acquisition of customer portfolios and related assets and other	(23,627)	(41,997)	(29,596)
Purchase of investments	0	0	(7,487)
Purchase of derivative instruments	(21,523)	0	0
Cash used in acquisitions, net of cash acquired	(406,777)	0	(1,658,694)
Net cash used in investing activities	(570,121)	(126,727)	(1,798,956)
Financing Activities:
Proceeds from issuance of long-term debt	3,234,375	0	3,443,000
Repayment of debt and capital lease obligations	(3,084,922)	(326,462)	(1,870,540)
Borrowings on revolving credit facility	1,250,000	177,000	0
Repayment of revolving credit facility	(1,250,000)	(177,000)	0
Payment of debt issuance costs	(20,115)	0	(38,092)
Proceeds from issuance of Class A common stock under employee stock plans	15,389	13,630	4,492
Warrant termination	0	(200,219)	0
Repurchase of Class A common stock	(81,369)	(200,406)	(59,364)
Repurchase of Class A common stock (to satisfy tax withholding obligations)	(6,248)	(16,527)	(17,801)
Settlement of certain tax receivable agreements	(159,274)	(94,022)	0
Payments under tax receivable agreements	(53,474)	(22,805)	(8,639)
Excess tax benefit from share-based compensation	12,167	16,707	13,420
Distribution to non-controlling interests	(12,934)	(12,892)	(22,911)
Other	(12)	0	0
(Decrease) increase in cash overdraft	0	(2,627)	2,627
Net cash (used in) provided by financing activities	(156,417)	(845,623)	1,446,192
Net (decrease) increase in cash and cash equivalents	(57,948)	(214,472)	240,141
Cash and cash equivalents—Beginning of period	197,096	411,568	171,427
Cash and cash equivalents—End of period	139,148	197,096	411,568
Cash Payments:
Interest	102,695	98,971	70,751
Taxes	51,140	6,565	35,157
Non-cash Items:
Issuance of tax receivable agreements to related parties	171,162	376,597	109,400
Issuance of tax receivable agreement as contingent consideration	0	0	137,860
Assets acquired under capital lease obligations	$ 0	$ 0	$ 12,997

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Treasury Stock	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	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	$ 203,066	$ 264	$ 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	168,990			125,292		43,698
Issuance of Class A common stock, stock options exercised, value	4,492		4,492
Issuance of Class A common stock under employee stock plans, net of forfeitures (in shares)								419,000
Excess tax benefit from employee share-based compensation	13,420		13,420
Repurchase of Class A common stock (to satisfy tax withholding obligation), value	(17,801)	$ (17,801)
Repurchase of Class A common stock (to satisfy tax withholding obligation) (in shares)		567,000						567,000
Issuance of Class A common stock and cancellation of Class B common stock in connection with secondary offering (in shares)								(5,780,000)		(5,780,000)
Class A common stock repurchased and retired during period, value	(59,364)		(59,364)				$ (59,400)
Class A common stock repurchased and retired during period, (in shares)							(1,900,000.0)	(1,936,000)
Issuance of tax receivable agreements	(17,400)		(17,400)
Gain (loss) on cash flow hedges and other	(6,172)				(4,032)	(2,140)
Formation of joint venture	18,839					18,839
Distribution to non-controlling interests	(22,911)					(22,911)
Share-based compensation	42,171		32,103			10,068
Reallocation of non-controlling interests of Vantiv Holding due to change in ownership			58,372			(58,372)
Balance at Dec. 31, 2014	1,300,586	$ (50,931)	629,353	328,358	(3,768)	397,573		$ 1		$ 0
Balance (in shares) at Dec. 31, 2014		2,174,000						145,455,000	43,000,000	43,043,000
Increase (Decrease) in Stockholders' Equity
Net income	209,229			147,946		61,283
Issuance of Class A common stock, stock options exercised, value	13,630		13,630
Issuance of Class A common stock under employee stock plans, net of forfeitures (in shares)								1,523,000
Excess tax benefit from employee share-based compensation	16,707		16,707
Repurchase of Class A common stock (to satisfy tax withholding obligation), value	(16,527)	$ (16,527)
Repurchase of Class A common stock (to satisfy tax withholding obligation) (in shares)		419,000						419,000
Warrant retirement	(144,568)		(129,173)			(15,395)
Issuance of Class A common stock and cancellation of Class B common stock in connection with secondary offering (in shares)								(8,000,000)		(8,000,000)
Class A common stock repurchased and retired during period, value	(200,406)		(200,406)
Class A common stock repurchased and retired during period, (in shares)								(4,446,000)
Issuance of common shares in connection with warrant exercise								5,375,000
Exercise of warrant			(25,022)			(25,022)
Termination of certain tax receivable agreements	58,191		58,191
Issuance of tax receivable agreements	(21,167)		(21,167)
Gain (loss) on cash flow hedges and other	(8,209)				(5,436)	(2,773)
Distribution to non-controlling interests	(12,892)					(12,892)
Share-based compensation	30,492		23,588			6,904
Reallocation of non-controlling interests of Vantiv Holding due to change in ownership			137,400			(137,400)
Balance at Dec. 31, 2015	1,225,066	$ (67,458)	553,145	476,304	(9,204)	272,278		$ 1		$ 0
Balance (in shares) at Dec. 31, 2015		2,593,000					155,488,326	155,488,000	35,042,826	35,043,000
Increase (Decrease) in Stockholders' Equity
Net income	280,871			213,208		67,663
Issuance of Class A common stock under employee stock plans, net of forfeitures, value	15,389		15,389
Issuance of Class A common stock under employee stock plans, net of forfeitures (in shares)								1,520,000
Excess tax benefit from employee share-based compensation	12,167		12,167
Repurchase of Class A common stock (to satisfy tax withholding obligation), value	(6,248)	$ (6,248)
Repurchase of Class A common stock (to satisfy tax withholding obligation) (in shares)		117,000						117,000
Class A common stock repurchased and retired during period, value	(81,369)		(81,369)				$ (81,400)
Class A common stock repurchased and retired during period, (in shares)							(1,400,000)	(1,407,000)
Issuance of common shares in connection with warrant exercise								5,651,000
Exercise of warrant			(25,022)			(25,022)
Termination of certain tax receivable agreements	130,318		130,318
Issuance of tax receivable agreements	(4,117)		(4,117)
Gain (loss) on cash flow hedges and other	4,053				3,007	1,046
Distribution to non-controlling interests	(12,934)					(12,934)
Share-based compensation	35,871		29,317			6,554
Adjustments to additional paid in capital, other	(12)		(12)
Reallocation of non-controlling interests of Vantiv Holding due to change in ownership			17,961			(17,961)
Balance at Dec. 31, 2016	$ 1,607,289	$ (73,706)	$ 706,055	$ 689,512	$ (6,197)	$ 291,624		$ 1		$ 0
Balance (in shares) at Dec. 31, 2016		2,710,000					161,134,831	161,135,000	35,042,826	35,043,000

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2016

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 and operates in two reportable segments, Merchant Services and Financial Institution Services. For more information about the Company’s segments, refer to Note 19 - Segment Information. 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.

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”). All intercompany balances and transactions have been eliminated.

As of December 31, 2016, Vantiv, Inc. and Fifth Third owned interests in Vantiv Holding of 82.14% and 17.86%, respectively (see Note 9 - 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. Non-controlling interests are presented as a component of equity in the accompanying consolidated statements of financial position.

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. The Company has an agreement with Fifth Third (the “Sponsoring Member”) to provide sponsorship services to the Company through December 31, 2024. 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.

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, which states that the determination of 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 referral partners 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 automated teller machine (“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 pass through expenses incurred by the Company in connection with providing processing services 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 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 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 income (expense):


◦	Non-operating expense for the year ended December 31, 2016 relates to the change in fair value of the Mercury TRA entered into as part of the acquisition of Mercury (see Note 7 - Tax Receivable Agreements) and a charge related to the refinancing of the Company’s senior secured credit facilities in October 2016 (see Note 6 - Long-Term Debt).


◦	Non-operating expense for the year ended December 31, 2015 primarily relates to the change in the fair value of the Mercury TRA (see Note 7 - Tax Receivable Agreements).

◦

Non-operating income for the year ended December 31, 2014, consists of a benefit recorded as a result of a reduction in certain TRA liabilities (see Note 7 - Tax Receivable Agreements), partially offset by a charge related to the refinancing of the Company’s senior secured credit facilities in June 2014 (see Note 6 - Long-Term Debt) and the change in fair value of the Mercury TRA (see Note 7 - Tax Receivable Agreements).

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. See Note 13 - Share-Based Compensation Plans for further discussion.

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 16 - Net Income Per Share for further discussion.

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 December 31, 2016 and 2015, the Company had recorded no valuation allowances against deferred tax assets. See Note 14 - Income Taxes for further discussion of income taxes.

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.

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 December 31, 2016 and 2015, 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. Facilities, furniture and equipment and software are depreciated on a straight-line basis over their respective useful lives. Leasehold improvements are depreciated on a straight-line basis over the lesser of the estimated useful life of the improvement or the term of the 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.

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. 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. See Note 3 - Property, Equipment and Software for additional information.

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, 2016 in accordance with ASU 2011-08, “Intangibles - Goodwill and Other (Topic 350) Testing Goodwill for Impairment,” which permits the Company to assess qualitative factors to determine whether the existence of events or circumstances leads to the determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Based on this analysis, it was determined that it is not more likely than not that the fair value of the reporting units is less than 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 December 31, 2016.

Intangible assets consist of acquired customer relationships, trade names, 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 December 31, 2016, 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. The remaining fair value was amortized on a straight-line basis over the remaining estimated useful life of two years from July 2014 to June 2016.

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 (loss) (“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.

New Accounting Pronouncements

In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The update clarifies how cash receipts and cash payments in certain transactions are presented and classified in the statement of cash flows. The effective date of this update is for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, with early adoption permitted. The update requires retrospective application to all periods presented but may be applied prospectively if retrospective application is impracticable. The Company is currently evaluating the impact of the adoption of this principle on the Company’s consolidated financial statements.

In March 2016, the FASB issued ASU 2016-09, Compensation- Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The update simplifies several aspects of the accounting for share-based payment award transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The update is effective for public companies for annual reporting periods beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted in any interim or annual period. The impact of adopting this standard on the Company’s consolidated financial statements is dependent upon the intrinsic value of share-based compensation awards at the time of exercise or vesting and may result in more variability in effective tax rates and net earnings and may also impact the diluted shares. The Company will adopt this ASU on January 1, 2017.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). This ASU amends the existing guidance by recognizing all leases, including operating leases, with a term longer than 12 months on the balance sheet and disclosing key information about the lease arrangements. The effective date of this update is for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The update requires modified retrospective transition, which requires application of the ASU at the beginning of the earliest comparative period presented in the year of adoption. The Company is forming a project team to evaluate the impact of the adoption of this principle on the Company’s consolidated financial statements. The Company anticipates adopting this ASU on January 1, 2019.

In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. As of December 31, 2015, the Company elected to early adopt this ASU on a prospective basis and therefore, prior years were not retrospectively adjusted.

In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. This standard was clarified in August 2015 with the issuance of ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements: Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting. The change in accounting principle, resulting from the Company’s adoption of this ASU in December 2015, has been implemented and the results were not material to the Company’s consolidated statement of financial position.

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 permitted. The amendment allows companies to use either a full retrospective or a modified retrospective approach to adopt this ASU. The Company has formed a project team and is currently assessing the impact of the adoption of this principle on the Company’s consolidated financial statements. The Company anticipates adopting this ASU on January 1, 2018 using the modified retrospective approach.

BUSINESS COMBINATIONS

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

BUSINESS COMBINATIONS

Acquisition of Moneris Solutions, Inc.

On December 21, 2016, the Company completed the acquisition of Moneris Solutions, Inc. (“Moneris USA”) by acquiring 100% of the issued and outstanding shares. Moneris USA is a provider of payment processing solutions offering credit, debit, wireless and online payment services for merchants in virtually every industry segment. This acquisition helps to further accelerate the Company’s growth.

The acquisition was accounted for as a business combination under ASC 805, Business Combinations (“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 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 preliminary purchase price allocation is as follows (in thousands):



Cash acquired	$	22,851
Current assets	44,967
Property and equipment	22
Intangible assets	75,000
Goodwill	372,061
Current liabilities	(63,322		)
Deferred tax liability	(18,950		)
Non-current liabilities	(3,001		)
Total purchase price	$	429,628

The above estimated fair values of assets acquired and liabilities assumed are preliminary and are based on the information that was available as of the reporting date to estimate the fair value of assets acquired and liabilities assumed. The Company believes that the information provides a reasonable basis for estimating the fair values of the acquired assets and assumed liabilities, but the potential for measurement period adjustments exists based on the Company’s continuing review of

matters related to the acquisition. The Company expects to complete the purchase price allocation as soon as practicable, but no later than one year from the acquisition date.

Intangible assets consist of customer relationship assets of $75 million with a weighted average estimated useful life of 5 years.

The Company incurred transaction expenses of approximately $12.3 million during the year ended December 31, 2016 in conjunction with the acquisition of Moneris USA, which are included within general and administrative expenses on the accompanying consolidated statement of income. From the acquisition date of December 21, 2016 through December 31, 2016, revenue and net income included in the accompanying statement of income for the year ended December 31, 2016 attributable to Moneris USA is not material.

The pro forma results of the Company reflecting the acquisition of Moneris USA were not material to our financial results and therefore have not been presented.

Acquisition of Mercury Payment Systems, LLC

On June 13, 2014, the Company completed the acquisition of Mercury Payment Systems, LLC (“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. Final measurement period adjustments were recorded in the second quarter of 2015 for the acquired assets and liabilities.

The following table summarizes the purchase price consideration 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

Simultaneously and in connection with the completion of the Mercury acquisition, the Company entered into a Tax Receivable Agreement (the “Mercury TRA”) with pre-acquisition owners of Mercury (“Mercury TRA Holders”). See Note 7 - Tax Receivable Agreements for further discussion of the Mercury TRA. The Mercury TRA is considered contingent consideration under 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 is re-measured at fair value at each reporting date with the change in fair value recognized in earnings as a non-operating expense.

Intangible assets consist of customer relationship assets of $332.0 million and a trade name of $15.0 million having weighted average estimated useful lives of 10 years and 2.5 years, respectively. The trade name was valued utilizing a relief from royalty method.

The Company incurred transaction and integration expenses of approximately $17.9 million during the year ended December 31, 2014 in conjunction with the acquisition of Mercury, which are included within general and administrative expenses and other operating costs on the accompanying consolidated statement of income. From the acquisition date of June 13, 2014 through December 31, 2014, revenue included in the accompanying statement of income for the year ended December 31, 2014 attributable to Mercury was approximately $217 million. Net income for the period could not be determined due to integration activities that were implemented subsequent to the acquisition.

Under the terms of the Mercury transaction agreement, the Company replaced unvested employee stock options held by certain employees of Mercury. The number of replacement stock options was based on a conversion factor into equivalent stock options of the Company on the acquisition date. The weighted average fair value of the replacement options was $32.1 million and was calculated on the acquisition date using the Black-Scholes option pricing model. The portion of the fair value of the replacement awards related to services provided prior to the acquisition of $17.7 million was part of the consideration transferred to acquire Mercury. The remaining portion of the fair value is associated with future service and will be recognized as expense over the future service period. See additional discussion in Note 13 - Share-Based Compensation Plans.

The following unaudited pro forma information shows the Company’s results of operations for the year ended December 31, 2014 as if the Mercury acquisition had occurred January 1, 2013. The unaudited 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.



	Year Ended December 31,
	2014
	(in thousands, except share data)
Total revenue	$	2,737,024
Income from operations	322,746
Net income including non-controlling interests	174,797
Net income attributable to Vantiv, Inc.	129,630
Net income per share attributable to Vantiv, Inc. Class A common stock:
Basic	$	0.91
Diluted	$	0.78
Shares used in computing net income per share of Class A common stock:
Basic	141,936,933
Diluted	199,170,813

The unaudited 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,


•	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 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
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
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-Section 50
-Paragraph 4
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Section 50
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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
-Topic 805
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-URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
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-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7000-128479

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=73530397&loc=SL65897772-128472

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479

+ Details

PROPERTY, EQUIPMENT AND SOFTWARE

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

PROPERTY, EQUIPMENT AND SOFTWARE

A summary of the Company’s property, equipment and software is as follows (in thousands):



	Estimated Useful Life	December 31, 2016			December 31, 2015
Land	N/A	$	6,401		$	6,401
Building and improvements	15 - 40 years	34,298			33,938
Furniture and equipment	2 - 10 years	171,104			134,191
Software	3 - 8 years	412,490			319,866
Leasehold improvements	3 - 10 years	8,846			8,885
Work in progress		25,094			45,061
Accumulated depreciation		(309,680		)	(240,333		)
Property, equipment and software - net		$	348,553		$	308,009

Depreciation and amortization expense related to property, equipment and software for the years ended December 31, 2016, 2015 and 2014 was $70.5 million, $76.6 million and $70.0 million, respectively.

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2016

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 December 31, 2015	2,791,678		574,850		3,366,528
Goodwill attributable to acquisition of Moneris USA	372,061		—		372,061
Balance as of December 31, 2016	$	3,163,739	$	574,850	$	3,738,589

⁽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 year ended December 31, 2014. The trade name was revalued utilizing an income approach using the relief-from-royalty method. The revised fair value of $6.7 million was subsequently amortized on a straight-line basis over the remaining estimated useful life of two years from July 2014 to June 2016.

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 December 31, 2016 and 2015, the Company’s finite lived intangible assets consisted of the following (in thousands):



	December 31, 2016		December 31, 2015
Customer relationship intangible assets	$	1,671,581	$	1,596,581
Trade name	—		21,733
Customer portfolios and related assets	178,480		129,734
Patents	955		366
	1,851,016		1,748,414
Less accumulated amortization on:
Customer relationship intangible assets	980,595		821,580
Trade name	—		14,350
Customer portfolios and related assets	82,601		49,418
	1,063,196		885,348
Intangible assets, net	$	787,820	$	863,066

Customer portfolios and related assets acquired during the years ended December 31, 2016 and 2015 have weighted-average amortization periods of 4.4 years and 4.8 years, respectively. Amortization expense on intangible assets for the years ended December 31, 2016, 2015 and 2014 was $199.6 million, $200.4 million and $205.1 million, respectively. For the year ended December 31, 2014, intangible amortization expense included the $34.3 million charge related to the phasing out of a trade name discussed above.

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



2017	$	208,890
2018	190,639
2019	175,623
2020	97,702
2021	49,137

- 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

CAPITAL LEASES

12 Months Ended

Dec. 31, 2016

Capital Leases of Lessee [Abstract]

CAPITAL LEASES

The Company has various lease agreements for equipment that are classified as capital leases. The cost and accumulated depreciation of equipment under capital leases included in the accompanying statements of financial position within property and equipment were $36.6 million and $12.7 million, respectively, as of December 31, 2016 and $36.6 million and $4.4 million, respectively, as of December 31, 2015. Depreciation expense associated with capital leases for the years ended December 31, 2016, 2015, and 2014 was $8.3 million, $7.8 million and $6.0 million, respectively.

The future minimum lease payments required under capital leases and the present value of net minimum lease payments as of December 31, 2016 are as follows (in thousands):



	Amount
2017	$	8,221
2018	8,969
2019	4,484
Total minimum lease payments	21,674
Less: Amount representing interest	(581		)
Present value of minimum lease payments	21,093
Less: Current maturities of capital lease obligations	(7,870		)
Long-term capital lease obligations	$	13,223

LONG-TERM DEBT

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

LONG-TERM DEBT

As of December 31, 2016 and 2015, the Company’s long-term debt consisted of the following (in thousands):



	December 31, 2016			December 31, 2015
Term A loan, maturing in October 2021⁽¹⁾	$	2,469,375		$	—
Term B loan, maturing in October 2023⁽²⁾	765,000			—
Term A loan, maturing on June 13, 2019⁽³⁾	—			1,896,250
Term B loan, maturing on June 13, 2021⁽⁴⁾	—			1,179,000
Leasehold mortgage, expiring on August 10, 2021⁽⁵⁾	10,131			10,131
Less: Current portion of note payable and current portion of note payable to related party	(131,119		)	(116,501		)
Less: Original issue discount	(3,631		)	(6,024		)
Less: Debt issuance costs	(20,153		)	(19,218		)
Note payable and note payable to related party	$	3,089,603		$	2,943,638

⁽¹⁾

Interest at a variable base rate (LIBOR) plus a spread rate (200 basis points) (total rate of 2.70% at December 31, 2016) and amortizing on a basis of 1.25% per quarter during each of the first twelve quarters (March 2017 through December 2019), 1.875% per quarter during the next four quarters (March 2020 through December 2020) and 2.50% during the next three quarters (March 2021 through September 2021) with a balloon payment due at maturity.


⁽²⁾	Interest at a variable base rate (LIBOR) with a floor of 75 basis points plus a spread rate (250 basis points) (total rate of 3.25% at December 31, 2016) and amortizing on a basis of 0.25% per quarter, with a balloon payment due at maturity.


⁽³⁾	Interest at a variable base rate (LIBOR) plus a spread rate (200 basis points) (total rate of 2.33% at December 31, 2015).


⁽⁴⁾	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 December 31, 2015).


⁽⁵⁾	Interest payable monthly at a fixed rate of 6.22%.

2016 Debt Refinancing

On October 14, 2016, Vantiv, LLC completed a debt refinancing by entering into a second amended and restated loan agreement (“Second Amended Loan Agreement”). The Second Amended Loan Agreement provides for senior secured credit facilities comprised of a $2.5 billion term A loan, a $765.0 million term B loan and a $650.0 million revolving credit facility. 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 October 2021 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 was 0.375% based on the Company’s leverage ratio at December 31, 2016. During the year ended December 31, 2016, the Company periodically borrowed under its revolving credit facility and repaid the amounts prior to year end. There were no outstanding borrowings on the revolving credit facility at December 31, 2016.

As of December 31, 2016, Fifth Third held $151.1 million of the term A loans, which is presented as note payable to related party on the consolidated statements of financial position.

As a result of the Company's 2016 debt refinancing, the Company expensed approximately $16.6 million, which consisted primarily of the write-offs of unamortized deferred financing fees and original issue discount (“OID”) associated with the component of the refinancing accounted for as a debt extinguishment and certain third party costs incurred in connection with the refinancing. Amounts expensed in connection with the refinancing are recorded as a component of non-operating expenses in the accompanying consolidated statement of income for the year ended December 31, 2016.

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 provided 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 related revolving credit facility was also terminated. The revolving credit facility originally matured in June 2019 and included 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 was 0.375% per year. During the year ended December 31, 2015, the Company periodically borrowed under its revolving credit facility and repaid the amounts prior to year end. There were no outstanding borrowings on the revolving credit facility at December 31, 2015.

As of December 31, 2015, Fifth Third held $191.5 million of the term A loans, which is presented as note payable to related party on the consolidated statements of financial position.

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.

As a result of the Company's 2014 debt refinancing, the Company expensed approximately $26.5 million, which consisted primarily of the write-offs of unamortized deferred financing fees and OID associated with the component of the refinancing accounted for as a debt extinguishment and certain third party costs incurred in connection with the refinancing. Amounts expensed in connection with the refinancing are recorded as a component of non-operating expenses in the accompanying consolidated statement of income for the year ended December 31, 2014.

Guarantees and Security

The Company’s debt obligations at December 31, 2016 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 Second 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 $25 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 Second 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 December 31, 2016, the Company was in compliance with these financial covenants.

TAX RECEIVABLE AGREEMENTS

12 Months Ended

Dec. 31, 2016

Tax Receivable Agreements Disclosure [Abstract]

TAX RECEIVABLE AGREEMENTS

As of December 31, 2016, the Company is party to several TRAs in which the Company agrees to make payments to various parties of 85% of the federal, state, local and foreign income tax benefits realized by the Company as a result of certain tax deductions. Payments under the TRAs will be based on the tax reporting positions of the Company and are only 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 actual income tax liability of the Company 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 below. The Company will retain the benefit of the remaining 15% of the cash savings associated with the TRAs. The Company has entered into the following three TRAs:


•	TRAs with investors prior to our initial public offering (“IPO”) for its use of NPC Group, Inc. net operating losses (“NOLs”) and other tax attributes existing at the IPO date under the NPC TRA, all of which is currently held by Fifth Third.


•	The Fifth Third TRA in which we realize tax deductions as a result of the increases in tax basis from the purchase of Vantiv Holding units or from the exchange of Vantiv Holding units for cash or shares of Class A common stock, as well as the tax benefits attributable to payments made under such TRAs.


•	A TRA with Mercury shareholders (the “Mercury TRA”) as part of the acquisition of Mercury as a result of the increase in tax basis of the assets of Mercury resulting from the acquisition and the use of the net operating losses and other tax attributes of Mercury that were acquired as part of the acquisition.

Obligations recorded pursuant to the TRAs are based on estimates of future taxable income and future tax rates. On an annual basis, the Company evaluates the assumptions underlying the TRA obligations. As a result of this process, obligations under the tax receivable agreements with Fifth Third were adjusted in 2014 to reflect the impact of tax planning strategies implemented during the year which are expected to reduce the amount of future obligations. The Company recorded a benefit of $41.3 million in non-operating income (expense) during the year ended December 31, 2014 as a result of the reduction in the TRA obligations with Fifth Third.

As discussed in Note 2 - Business Combinations, the Company entered into the Mercury TRA and recorded a liability of $192.5 million for the Mercury TRA and non-operating expenses of $19.5 million, $28.9 million and $14.6 million related to the change in fair value of the Mercury TRA during the years ended December 31, 2016, 2015 and 2014, respectively.

From time to time, the Company enters into repurchase addendums providing for the early settlement of certain obligations. The following table presents the Company’s TRA settlements and the impact of these settlements on the Company’s consolidated statement of financial position (in thousands):



TRA	Settlement Date	Cash Buyout Payment			Balance Sheet Obligation Prior to Settlement		Deferred Taxes and Other		Net Gain Recorded in Equity
Fifth Third	July 2016	$	(116,294	)	$	330,711	$	84,099	$	130,318
Mercury	June 2016	(41,400		)	41,400		—		—
Fifth Third	October 2015	(48,866		)	140,024		32,967		58,191
Mercury	July 2015	(44,800		)	44,800		—		—

As summarized in the table above, in July 2016, the Company entered into a purchase addendum in connection with the Company’s TRA with Fifth Third (the “Fifth Third TRA Addendum”) to terminate and settle a portion of the Company’s obligations owed to Fifth Third under the Fifth Third TRA and the NPC TRA. Under the terms of the Fifth Third TRA Addendum, the Company paid approximately $116.3 million to Fifth Third to settle approximately $330.7 million of obligations under the Fifth Third TRA, the difference of which was recorded as an addition to paid-in capital, net of deferred taxes.

In addition to the July 2016 Fifth Third TRA settlement presented in the table above, the Fifth Third TRA Addendum provides that the Company may be obligated to pay up to a total of approximately $170.7 million to Fifth Third to terminate and settle certain remaining obligations under the Fifth Third TRA and the NPC TRA, totaling an estimated $394.1 million, the difference of which will be recorded as an addition to paid-in capital upon the exercise of the Call Options or Put Options discussed below.

Under the terms of the Fifth Third TRA Addendum, beginning March 1, 2017, June 1, 2017, September 1, 2017, December 1, 2017, March 1, 2018, June 1, 2018, September 1, 2018 and December 1, 2018, and ending March 10, 2017, June 10, 2017, September 10, 2017, December 10, 2017, March 10, 2018, June 10, 2018, September 10, 2018 and December 10, 2018, respectively, the Company is granted call options (collectively, the “Call Options”) pursuant to which certain additional obligations of the Company under the Fifth Third TRA and the NPC TRA would be terminated and settled in consideration for cash payments of $15.1 million, $15.6 million, $16.1 million, $16.6 million, $25.6 million, $26.4 million, $27.2 million and $28.1 million, respectively.

Under the terms of the Fifth Third TRA Addendum, in the unlikely event the Company does not exercise the relevant Call Option, Fifth Third is granted put options beginning March 20, 2017, June 20, 2017, September 20, 2017, December 20, 2017, March 20, 2018, June 20, 2018, September 20, 2018 and December 20, 2018, and ending March 31, 2017, June 30, 2017, September 30, 2017, December 31, 2017, March 31, 2018, June 30, 2018, September 30, 2018 and December 31, 2018, respectively (collectively, the “Put Options”), pursuant to which certain additional obligations of the Company would be terminated and settled in consideration for cash payments with similar amounts to the Call Options.

The full carrying amount of the Fifth Third callable/puttable TRA obligations for the options exercisable within 12 months of the balance sheet date have been classified as current obligations in the accompanying statement of financial position ($157.7 million).

Since Fifth Third is a significant stockholder of the Company, a special committee of the Company’s board of directors comprised of independent, disinterested directors authorized the TRA Addendum.

During 2015, the Company entered into the Mercury TRA Addendum with each of the pre-acquisition owners of Mercury ("Mercury TRA Holders"). The Mercury TRA Addendum contains the following provisions to acquire a significant portion of the Mercury TRA:

•

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.

•

In the unlikely event 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.


•	In June 2016, the Company exercised the December 2015 Call Option and made a payment to the Mercury TRA Holders.

The Company’s President, Integrated Payments, is a Mercury TRA Holder. Pursuant to the initial payment under the Mercury 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 Mercury TRA Addendum.

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

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 15 - Fair Value Measurements). The following table reflects TRA activity and balances for the years ended December 31, 2016, 2015 and 2014 (in thousands):



	Balance as of December 31, 2013		2014 TRA Payment			2014 Secondary Offering		Acquisition of Mercury		Change in Value			Balance as of December 31, 2014
TRA with Fifth Third Bank	$	559,700	$	(8,639	)	$	109,400	$	—	$	(40,399	)	$	620,062
Mercury TRA	—		—			—		137,860		14,560			152,420
Total	$	559,700	$	(8,639	)	$	109,400	$	137,860	$	(25,839	)	$	772,482



	Balance as of December 31, 2014		2015 TRA Payment			2015 TRA Settlements			2015 Secondary Offering		Purchase Accounting Adjustment		Change in Value			Balance as of December 31, 2015
TRA with Fifth Third Bank	$	620,062	$	(22,805	)	$	(140,024	)	$	376,597	$	—	$	(769	)	$	833,061
Mercury TRA	152,420		—			(44,800		)	—		54,647		28,940			191,207
Total	$	772,482	$	(22,805	)	$	(184,824	)	$	376,597	$	54,647	$	28,171		$	1,024,268



	Balance as of December 31, 2015		2016 TRA Payment			2016 TRA Settlements			2016 Secondary Offering		Change in Value		Balance as of December 31, 2016
TRA with Fifth Third Bank	$	833,061	$	(31,233	)	$	(330,711	)	$	171,162	$	53	$	642,332
Mercury TRA	191,207		(22,241		)	(41,400		)	—		19,474		147,040
Total	$	1,024,268	$	(53,474	)	$	(372,111	)	$	171,162	$	19,527	$	789,372

As a result of the secondary offerings and exchange of units of Vantiv Holding by Fifth Third Bank discussed in Note 12 - Capital Stock, the Company recorded the following (in thousands):



Secondary Offerings by Year	TRA Liability		Deferred Tax Asset		Net Equity
2016	$	171,162	$	175,279	$	(4,117	)
2015	376,597		355,430		21,167
2014	109,400		92,000		17,400

The timing and/or amount of aggregate payments due under the TRAs outside of the call/put structures 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 5^th of the second year immediately following the taxable year in which the obligation occurred. The contractually obligated payments under the TRA obligations paid in January 2014, 2015 and 2016 are in the tables above. The Company made a payment under the TRA obligations of approximately $55.7 million in January 2017. The January 2017 payment is recorded as current portion of tax receivable agreement obligations on the accompanying consolidated statement of financial position. Unless settled under the terms of the repurchase addenda, the term of the TRAs will continue until all the underlying tax benefits have been utilized or expired.

DERIVATIVES AND HEDGING ACTIVITIES

12 Months Ended

Dec. 31, 2016

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 December 31, 2016 and 2015, 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. In addition to the interest rate swaps, in March 2016 the Company entered into interest rate cap agreements in exchange for an upfront premium of $21.5 million. These interest rate cap agreements cap a portion of the Company’s variable rate debt if interest rates rise above the strike rate on the contract. As of December 31, 2016 the interest rate cap agreements had a fair value of $23.2 million, classified within other current and non-current assets on the Company’s consolidated statements of financial position. The interest rate swaps and caps (collectively “interest rate contracts”) 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 15 - Fair Value Measurements for a detailed discussion of the fair value of its derivatives. The Company designates its interest rate contracts 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 contracts 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 affect 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 a combination of interest rate swaps and caps as part of its interest rate risk management strategy. As of December 31, 2016, the Company had a total of 10 outstanding interest rate swaps that were designated as cash flow hedges of interest rate risk. Of the 10 outstanding interest rate swaps, 4 of them cover an exposure period from June 2016 through June 2017 and have a combined notional balance of $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 4 of the 10 outstanding interest rate swaps with notional balances ranging from $262.5 million to $250.0 million. Additionally, as of December 31, 2016, the Company had a total of 6 interest rate cap agreements with a combined notional balance of $1.0 billion, cap strike rate of 0.75%, covering an exposure period from January 2017 to January 2020.

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	December 31, 2016		December 31, 2015
Interest rate contracts	Other current assets	$	2,144	$	—
Interest rate contracts	Other long-term assets	21,085		—
Interest rate contracts	Other current liabilities	9,551		9,343
Interest rate contracts	Other long-term liabilities	5,507		9,885

Any ineffectiveness associated with such derivative instruments will be recorded immediately as interest expense in the accompanying consolidated statements of income. As of December 31, 2016, the Company estimates that $11.2 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 pre-tax effect of the Company’s interest rate contracts on the accompanying consolidated statements of comprehensive income for the years ended December 31, 2016, 2015 and 2014 (in thousands):



	Year Ended December 31,
	2016			2015			2014
Derivatives in cash flow hedging relationships:
Amount of loss recognized in OCI (effective portion) ⁽¹⁾	$	(6,858	)	$	(18,836	)	$	(11,240	)
Amount of loss reclassified from accumulated OCI into earnings (effective portion)	(12,735		)	(6,990		)	(3,040		)
Amount of loss recognized in earnings ⁽²⁾	—			—			(1		)


⁽¹⁾	“OCI” represents other comprehensive income.


⁽²⁾	For the year ended December 31, 2014, amount represents hedge ineffectiveness.

Credit Risk Related Contingent Features

As of December 31, 2016, 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 $15.9 million.

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 December 31, 2016, the Company had not posted any collateral related to these agreements. If the Company had breached any of these provisions at December 31, 2016, it could have been required to settle its obligations under the agreements at their termination value of $15.9 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
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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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+ Details

CONTROLLING AND NON-CONTROLLING INTERESTS

12 Months Ended

Dec. 31, 2016

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. The Exchange Agreement entered into prior to the IPO provides for a 1 to 1 ratio between the units of Vantiv Holding and the common stock of Vantiv, Inc.

In May 2014, the Company entered into a joint venture with a bank partner which provides customers a comprehensive suite of payment solutions. Vantiv Holding owns 51% and the bank partner owns 49% of the joint venture. The joint venture is consolidated by the Company in accordance with ASC 810, with the associated non-controlling interest included in “Net income attributable to non-controlling interests” in the consolidated statements of income. The bank partner contributed a merchant asset portfolio to the joint venture valued at $18.8 million which was recorded to non-controlling interests in the 2014 consolidated statement of equity.

As of December 31, 2016, Vantiv, Inc.’s interest in Vantiv Holding was 82.14%. 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	%
Fifth Third exchange of Vantiv Holding units for shares of Class A common stock in connection with December 2015 secondary offering	8,000,000		(8,000,000	)	—
Fifth Third exchange of Class C units of Vantiv Holding for shares of Class A common stock in connection with partial warrant exercise	5,374,592		—		5,374,592
Share repurchases	(4,445,551	)	—		(4,445,551	)
Equity plan activity ⁽¹⁾	1,104,277		—		1,104,277
As of December 31, 2015	155,488,326		35,042,826		190,531,152
% of ownership	81.61	%	18.39	%
Fifth Third exchange of Class C units of Vantiv Holding for shares of Class A common stock in connection with remaining warrant exercise	5,651,432		—		5,651,432
Share repurchases	(1,406,600	)	—		(1,406,600	)
Equity plan activity ⁽¹⁾	1,401,673		—		1,401,673
As of December 31, 2016	161,134,831		35,042,826		196,177,657
% of ownership	82.14	%	17.86	%


⁽¹⁾	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 the changes in ownership interests in Vantiv Holding, periodic adjustments are made 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):



	Year Ended December 31,
	2016		2015		2014
Net income	$	280,871	$	209,229	$	168,990
Items not allocable to non-controlling interests:
Vantiv, Inc. expenses ⁽¹⁾	81,059		55,111		7,725
Vantiv Holding net income	$	361,930	$	264,340	$	176,715

Net income attributable to non-controlling interests of Fifth Third ⁽²⁾	$	65,789	$	58,938	$	43,022
Net income attributable to joint venture non-controlling interest ⁽³⁾	1,874		2,345		676
Total net income attributable to non-controlling interests	$	67,663	$	61,283	$	43,698

⁽¹⁾ Primarily represents income tax expense related to Vantiv, Inc. and TRA related expense (credits) (see Note 7 - Tax Receivable Agreements).

⁽²⁾ 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.


⁽³⁾	Reflects net income attributable to the non-controlling interest of the joint venture.

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 at an exercise price of $15.98 per unit. The warrant was valued at approximately $65.4 million at June 30, 2009 and was recorded as a component of non-controlling interest on the accompanying statements of financial position.

On December 2, 2015, the Company entered into a warrant cancellation agreement (the "Warrant Cancellation Agreement") with Fifth Third to cancel a portion of the warrant. The Warrant Cancellation Agreement cancelled the rights under the warrant to purchase 4.8 million Class C Units of Vantiv Holding for aggregate consideration of $200 million paid by the Company to Fifth Third. Following the effectiveness of the Warrant Cancellation Agreement, Fifth Third net exercised a portion of the warrants it held to purchase 5.4 million Class C Units of Vantiv Holding. As of December 31, 2015, Fifth Third held the rights to purchase 7.8 million Class C Units of Vantiv Holding which are exchangeable for Class A common stock. The remaining warrant held by Fifth Third in the amount of $25 million was recorded as a component of non-controlling interest on the accompanying statements of financial position as of December 31, 2015.

On November 28, 2016, Fifth Third net exercised the remaining warrant it held to purchase approximately 5.7 million Class C Units of Vantiv Holding. The value of the warrant exercised in the amount of $25 million was reclassified out of non-controlling interests to additional paid-in capital on the accompanying statements of financial position.

COMMITMENTS, CONTINGENCIES AND GUARANTEES

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS, CONTINGENCIES AND GUARANTEES

Leases

The Company leases office space under non-cancelable operating leases that expire between March 2017 and December 2045. Future minimum commitments under these leases are as follows (in thousands):



Year Ended December 31,
2017	9,704
2018	7,636
2019	5,809
2020	4,375
2021	4,048
Thereafter	13,197
Total	$	44,769

Rent expense for the years ended December 31, 2016, 2015 and 2014 was approximately $9.4 million, $11.6 million and $9.9 million, respectively.

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.

EMPLOYEE BENEFIT PLANS	12 Months Ended
EMPLOYEE BENEFIT PLANS	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS The Company offers a defined contribution savings plan to virtually all Company employees. The plan provides for elective, pre-tax or after tax participant contributions and Company matching contributions. Expenses associated with the defined contribution savings plan for the years ended December 31, 2016, 2015 and 2014 were $10.1 million, $9.1 million and $7.3 million, respectively.

CAPITAL STOCK

12 Months Ended

Dec. 31, 2016

Stockholders' Equity Note [Abstract]

CAPITAL STOCK

Common Stock

Under the Company’s amended and restated certificate of incorporation, the Company is authorized to issue 890,000,000 shares of Class A common stock with a par value of $0.00001 per share and 100,000,000 shares of Class B common stock with no par value per share. The Class A and Class B common stock each provide holders with one vote on all matters submitted to a vote of stockholders; however, the holders of shares of Class B common stock shall be limited to voting power, including voting power associated with any Class A common stock held, of 18.5% at any time other than in connection with a stockholder vote with respect to a change of control. Also, holders of Class B common stock do not have any of the economic rights (including rights to dividends and distributions upon liquidation) provided to the holders of Class A common stock. The holders of Class B common stock hold one share of Class B common stock for each Vantiv Holding Class B unit they hold. The Class B units of Vantiv Holding may be exchanged for shares of Class A common stock on a one-for-one basis or, at the Company’s option, for cash equal to the fair value of the shares tendered for exchange. Upon exchange of any Class B units of Vantiv Holding, an equal number of shares of Class B common stock automatically will be cancelled. The Class A common stock and Class B common stock vote together as a single class, except that the holders of Class B common stock are entitled to elect a number of the Company’s directors equal to the percentage of the voting power of all of the outstanding common stock represented by the Class B common stock but not exceeding 18.5% of the board of directors. Fifth Third holds all of the issued and outstanding Class B common stock.

As of December 31, 2016, 161,134,831 shares of Class A common stock and 35,042,826 shares of Class B common stock were issued and outstanding.

Secondary Offerings

In March 2014, a secondary offering took place in which Advent sold its remaining 18.8 million shares of the Company’s Class A common stock. In June 2014, a secondary offering took place in which Fifth Third sold 5.8 million shares of the Company’s Class A common stock.

On December 8, 2015, subsequent to the Warrant Cancellation Agreement and the Partial Warrant Exercise on December 2, 2015 as discussed in Note 9 - Controlling and Non-Controlling Interests, a secondary offering took place in which Fifth Third sold 13.4 million shares of the Company’s Class A common stock.

On November 28, 2016, subsequent to Fifth Third’s exercise of the remaining warrant, a secondary offering took place in which Fifth Third sold approximately 4.8 million shares of the Company’s Class A common stock.

The Company did not receive any proceeds from the sales noted above.

Share Repurchases

On February 12, 2014, the Company's board of directors approved a program to repurchase up to $300 million of the Company’s Class A common stock. During the year ended December 31, 2014, approximately 1.9 million shares were repurchased under this program for approximately $59.4 million, which completed the remaining 2013 share repurchase authorization and resulted in approximately $275 million available under the February 2014 authorization. During the year ended December 31, 2015, approximately 4.4 million shares were repurchased for approximately $200 million.

On October 25, 2016, the board of directors authorized a program to repurchase up to an additional $250 million of the Company's Class A common stock. In connection with Fifth Third’s net exercise of the remaining warrant discussed in Note 9 - Controlling and Non-controlling Interests, the Company repurchased approximately 850,000 shares of its Class A common stock from Fifth Third for approximately $50.8 million. During the year ended December 31, 2016, approximately $1.4 million shares were repurchased under the programs for approximately $81.4 million, which completed the repurchases under the February 2014 authorization and resulted in approximately $243 million available for repurchase under the October 2016 authorization. The repurchased shares were immediately retired.

Purchases under the programs may be made from time to time in the open market, in privately negotiated transactions, or otherwise. The manner, timing and amount of any purchases will be determined by management based on an evaluation of market conditions, stock price and other factors. The Company’s share repurchase program does not obligate it to acquire any specific number or amount of shares, there is no guarantee as to the exact number or amount of shares that may be repurchased, if any, and the Company may discontinue purchases at any time that it determines additional purchases are not warranted.

Preferred Stock

Under the Company’s amended and restated certificate of incorporation, the Company is authorized to issue 10,000,000 shares of preferred stock with a par value of $0.00001 per share. As of December 31, 2016, there was no preferred stock outstanding.

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. The amounts available to Vantiv, Inc. to pay cash dividends are 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 December 31, 2016.

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 years ended December 31, 2016, 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
Year Ended December 31, 2016
Net change in fair value recorded in accumulated OCI	$	(14,336	)	$	(6,858	)	$	2,106		$	(4,752	)	$	1,269		$	(3,483	)	$	(17,819	)
Net realized loss reclassified into earnings ^(a)	5,132			12,735			(3,930		)	8,805			(2,315		)	6,490			11,622
Other	—			—			—			—			—			—			—
Net change	$	(9,204	)	$	5,877		$	(1,824	)	$	4,053		$	(1,046	)	$	3,007		$	(6,197	)

Year Ended December 31, 2015
Net change in fair value recorded in accumulated OCI	$	(5,288	)	$	(18,836	)	$	5,490		$	(13,346	)	$	4,298		$	(9,048	)	$	(14,336	)
Net realized loss reclassified into earnings ^(a)	1,732			6,990			(2,065		)	4,925			(1,525		)	3,400			5,132
Other	(212		)	212			—			212			—			212			—
Net change	$	(3,768	)	$	(11,634	)	$	3,425		$	(8,209	)	$	2,773		$	(5,436	)	$	(9,204	)

Year Ended December 31, 2014
Net change in fair value recorded in accumulated OCI	$	(5	)	$	(11,240	)	$	3,114		$	(8,126	)	$	2,843		$	(5,283	)	$	(5,288	)
Net realized loss reclassified into earnings ^(a)	269			3,040			(874		)	2,166			(703		)	1,463			1,732
Other	—			(212		)	—			(212		)	—			(212		)	(212		)
Net change	$	264		$	(8,412	)	$	2,240		$	(6,172	)	$	2,140		$	(4,032	)	$	(3,768	)

(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 years ended December 31, 2016, 2015 and 2014, reflect amounts of losses reclassified from AOCI into earnings, representing the effective portion of the hedging relationships, and are 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
-Topic 310
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-Section S99
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 235
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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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
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6521494

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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+ Details

SHARE-BASED COMPENSATION PLANS

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

SHARE-BASED COMPENSATION PLANS

The company accounts for share-based compensation plans in accordance with ASC 718, Compensation-Stock Compensation, which requires compensation expense for the grant-date fair value of share-based payments to be recognized over the requisite service period.

2012 Equity Incentive Plan

The 2012 Equity Incentive Plan was adopted by the Company’s board of directors in March 2012. The 2012 Equity Incentive Plan provides for grants of stock options, stock appreciation rights, restricted stock and restricted stock units, performance awards and other stock-based awards. The maximum number of shares of Class A common stock available for issuance pursuant to the 2012 Equity Incentive Plan is 35.5 million shares.

Restricted Stock Awards

The Company grants restricted stock awards to certain employees which vest based on the recipient’s continued employment or service to the Company (“Time Awards”).

The Company also grants restricted stock awards to certain employees subject to the achievement of certain financial performance measures ("Performance Awards"). These Performance Awards typically vest on the third anniversary of the grant date. Participants have the right to earn 0% to 200% of the target number of shares of the Company’s Class A common stock, determined by the level of achievement of the financial performance measures during the performance period.

The grant date fair value of the restricted stock awards is based on the quoted fair market value of our common stock on the grant date. The weighted-average grant date fair value of restricted stock awards granted during the years ended 2016 and 2015 was $50.08 and $38.10, respectively. There were no restricted stock awards granted in 2014. The total fair value of restricted stock awards vested was $1.2 million, $47.2 million and $53.4 million in 2016, 2015 and 2014, respectively.

The following table presents the number and weighted-average grant date fair value of the restricted stock awards for the year ended December 31, 2016:



	Restricted Class A Common Stock - Time Awards		Weighted Average Grant Date Fair Value		Restricted Class A Common Stock - Performance Awards		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2015	166,454		$	35.22	332,840		$	37.86
Granted	24,998		50.80		241,544		50.01
Vested	(24,089	)	14.00		—		—
Forfeited	(6,053	)	41.42		(27,646	)	41.95
Non-vested at December 31, 2016	161,310		$	40.57	546,738		$	43.02

Restricted Stock Units

The Company issues restricted stock units to directors and certain employees, which typically vest on the first anniversary of the grant date (for directors) and in equal annual increments over three to four years beginning on the first anniversary of the date of grant (for employees). The grant date fair value of the restricted stock units is based on the quoted fair market value of our common stock at the award date. The weighted-average grant date fair value of restricted stock units granted during the years ended 2016, 2015 and 2014 was $51.75, $38.42 and $31.30, respectively. The total fair value of restricted stock units vested was $18.3 million, $10.5 million and $5.1 million in 2016, 2015 and 2014, respectively.

The following table presents the number and weighted-average grant date fair value of the restricted stock units for the year ended December 31, 2016:



	Restricted Stock Units		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2015	988,007		$	31.24
Granted	420,817		51.75
Vested	(344,212	)	28.06
Forfeited	(141,330	)	36.40
Non-vested at December 31, 2016	923,282		$	40.98

Stock Options

The Company grants stock options to certain key employees. The stock options vest in 25% annual increments beginning on the first anniversary of the date of grant, subject to the participant’s continued service through each such vesting date. All stock options are nonqualified stock options and expire on the tenth anniversary of the grant date.

During the year ended December 31, 2014, under the terms of the Mercury transaction agreement, the Company replaced unvested employee stock options held by certain employees of Mercury. The number of replacement stock options was based on a conversion factor into equivalent stock options of the Company on the acquisition date. The weighted average fair value of the replacement options was calculated on the acquisition date using the Black-Scholes option pricing model. The replacement stock options typically vest over four and a half years with 22.22% of the awards vesting after one year and the remainder in quarterly increments, subject to the participant’s continued service through each such vesting date. Per the applicable option agreement, if a participant is terminated without cause within the prescribed acceleration period (which range from 12 to 24 months following the acquisition), then such replacement options shall immediately become fully vested and exercisable at the time of such termination to the extent not then vested and not previously cancelled. The replacement options are nonqualified stock options and expire on the tenth anniversary of the original grant date. See Note 2 - Business Combinations for additional details.

The following table summarizes stock option activity for the year ended December 31, 2016:



	Stock Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding options at December 31, 2015	2,310,243		$	26.74	8.01	$	47,780
Granted	695,666		50.02
Exercised	(537,871	)	21.43			18,379
Expired	(9,033	)	31.39
Forfeited	(257,563	)	33.09
Outstanding options at December 31, 2016	2,201,442		$	35.21	7.72	$	53,738

Options exercisable at December 31, 2016	608,076		$	26.24	6.69	$	20,299

For the years ended December 31, 2016, 2015, and 2014 the total aggregate intrinsic value of options exercised was $18.4 million, $17.5 million, and $4.4 million, respectively. The weighted-average grant date fair value was estimated by the Company using the Black-Scholes option pricing model with the assumptions below:



			2014
	2016	2015	Vantiv Grant	Mercury Replacement Options
Number of options granted	695,666	707,738	710,297	1,750,519
Weighted average exercise price	$50.01 - $52.04	$37.10	$31.02	$10.18 - $29.79
Expected option life at grant (in years)	6.25	6.25	6.25	3.00 - 6.00
Expected volatility	24.77%	26.33%	25.00%	24.80% - 30.80%
Expected dividend yield	—%	—%	—%	—%
Risk-free interest rate	1.41% - 1.45%	1.67%	1.93%	0.93% - 1.96%
Fair value	$13.92 - $14.43	$11.04	$9.07	$17.75 - $22.10

The expected option life represents the period of time the stock options are expected to be outstanding and is based on the “simplified method” allowed under SEC guidance. The Company used the “simplified method” due to the lack of sufficient historical exercise data to provide a reasonable basis upon which to otherwise estimate the expected life of the stock options. Since the Company’s publicly traded stock history is relatively short, expected volatility is based on the Company’s historical volatility and the historical volatility of a group of peer companies. The Company does not intend to pay cash dividends in the foreseeable future. Consequently, the Company used an expected dividend yield of zero. The risk-free interest rate was based on the U.S. Treasury yield curve in effect at the time of the grant.

Performance Share Units

The Company issues performance share units to certain employees subject to the achievement of certain financial performance measures. These performance share units vest on the third anniversary of the grant date. Participants have the right to earn 0% to 200% of the target number of shares of the Company’s Class A common stock, determined by the level of achievement of the financial performance measures during the three year performance period. In 2015 the Company also issued performance share units to certain employees subject to the achievement of certain financial and non-financial performance measures through 2018.

Additionally, associated with an acquisition in 2013, the Company issued performance share units to certain employees subject to the achievement of certain financial and non-financial performance measures through 2016.

The grant date fair value of the performance share units is based on the quoted fair market value of our common stock on the grant date. For the years ended December 31, 2016, 2015 and 2014, the weighted-average grant date fair value of performance share units granted was $50.04, $39.16, and $31.02, respectively, and the total fair value of performance share units vested was $17.1 million, $1.2 million, and $2.0 million, respectively.

The following table presents the number and weighted-average grant date fair value of the performance share units for the year ended December 31, 2016:



	Performance Share Units		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2015	472,518		$	29.73
Granted	72,813		50.04
Incremental shares upon completion of performance goals	154,024		21.95
Vested	(325,459	)	22.48
Forfeited	(57,195	)	31.73
Non-vested at December 31, 2016	316,701		$	37.70

The share-based compensation expense related to the performance share units granted in 2014 ("2014 PSUs") was initially estimated based on target performance and was adjusted as appropriate throughout the performance period based on the shares expected to be earned at that time. The 2014 PSUs are included in the table above as non-vested at December 31, 2016 at target, or 100%. On January 30, 2017, the Compensation Committee of the Company’s Board of Directors certified the achievement of the performance goals for the 2014 PSUs, which had a performance period of January 1, 2014 to December 31, 2016, at the maximum 200% of the target number of shares (150,739 shares incremental to those included in the table above for the 2014 PSUs).

Employee Share Purchase Plan

In 2016 the Company began offering an Employee Stock Purchase Plan (“ESPP”). The ESPP has 2.5 million shares of common stock reserved for issuance. Full-time and benefits-eligible part-time employees who have completed at least one year of service are eligible to participate. Temporary, seasonal and employees subject to Section 16 reporting are excluded. Shares may be purchased at 85% of the market value at the end of the offering period through accumulation of payroll deductions. The ESPP provides for six month offerings commencing on January 1 and July 1 of each year with purchases on June 30 and December 31 of each year. For the year ended December 31, 2016, the expense related to the ESPP’s 15% discount is included in total share-based compensation expense disclosed below.

For the years ended December 31, 2016, 2015 and 2014, total share-based compensation expense was $35.9 million, $30.5 million and $42.2 million, respectively. Related tax benefits recorded in the accompanying consolidated statements of income totaled $10.9 million in 2016, $8.8 million in 2015 and $12.9 million in 2014. At December 31, 2016, there was approximately $57.9 million of unrecognized share-based compensation expense, which is expected to be recognized over a remaining weighted-average period of approximately 2.4 years.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

INCOME TAXES

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

INCOME TAXES

In accordance with ASC Topic 740, Income Taxes, income taxes are recognized for the amount of taxes payable for the current year and for the impact of deferred tax liabilities and assets, which represent future tax consequences of events that have been recognized differently in the financial statements than for tax purposes. Deferred tax assets and liabilities are established using the enacted statutory tax rates and are adjusted for any changes in such rates in the period of change. Vantiv, Inc. is taxed as a C Corporation, which is subject to both federal and state taxation at a corporate level. Therefore, tax expense and deferred tax assets and liabilities reflect such status.

The following is a summary of applicable income taxes (in thousands):



	Year Ended December 31,
	2016		2015			2014
Current income tax expense:
U.S. income taxes	$	57,966	$	28,586		$	29,234
State and local income taxes	4,219		4,311			4,474
Total current tax expense	62,185		32,897			33,708
Deferred income tax expense (benefit):
U.S. income taxes	70,786		55,553			36,070
State and local income taxes	8,882		(273		)	(3,601		)
Total deferred tax expense	79,668		55,280			32,469
Applicable income tax expense	$	141,853	$	88,177		$	66,177

A reconciliation of the U.S. income tax rate and the Company’s effective tax rate for all periods is provided below:



	Year Ended December 31,
	2016		2015		2014
Federal statutory tax rate	35.0	%	35.0	%	35.0	%
State taxes-net of federal benefit	2.8		2.7		2.6
Effect of changes in deferred tax rates	0.1		(1.9	)	(3.1	)
Non-controlling interest	(4.6	)	(5.9	)	(5.6	)
Other-net	0.3		(0.3	)	(0.8	)
Effective tax rate	33.6	%	29.6	%	28.1	%

Deferred income tax assets and liabilities are comprised of the following as of December 31, 2016 and 2015 (in thousands):



	December 31, 2016			December 31, 2015
Deferred tax assets
Net operating losses	$	14,085		$	25,569
Employee benefits	69			55
Other assets	2,236			2,316
Other accruals and reserves	89,239			79,925
Partnership basis	771,311			728,532
Deferred tax assets	876,940			836,397
Deferred tax liabilities
Property and equipment	(13,677		)	(9,840		)
Goodwill and intangible assets	(150,687		)	(109,988		)
Deferred tax liability	(164,364		)	(119,828		)
Deferred tax asset-net	$	712,576		$	716,569

As part of the acquisitions of NPC Group, Inc. (“NPC”) and Mercury, the Company acquired federal and state tax loss carryforwards. As of December 31, 2016, the cumulative federal and state tax loss carryforwards were approximately $38.0 million and $16.9 million, respectively. Federal tax loss carryforwards will expire in 2030 and state tax loss carryforwards will expire between 2020 and 2035.

The partnership basis included in the above table is the result of a difference between the tax basis and book basis of Vantiv, Inc.’s investment in Vantiv Holding. Vantiv Holding, a partnership for tax purposes, has an Internal Revenue Code election in place to adjust the tax basis of partnership property to fair market value related to the portion of the partnership interest transferred, through an exchange of units of Vantiv Holding by its members. Included in partnership basis in the table above are deferred tax assets resulting from the increase in tax basis generated by the exchange of units of Vantiv Holding in connection with the IPO and subsequent secondary offerings. See Note 7 - Tax Receivable Agreements for discussion of deferred tax assets as a result of the secondary offerings and exchange of units of Vantiv Holding.

Deferred tax assets are reviewed to determine whether the available evidence allows the Company to recognize the tax benefits. To the extent that a tax asset is not expected to be realized, the Company records a valuation allowance against the deferred tax assets. The Company has recorded no valuation allowance during the years ended December 31, 2016 or 2015.

A provision for federal, state and local income taxes has been recorded on the statements of income for the amounts of such taxes the Company is obligated to pay or amounts refundable to the Company. At December 31, 2016 and 2015, the Company recorded an income tax receivable of approximately $8.3 million and $53.2 million, respectively, which is included in other current assets on the Company’s consolidated statements of financial position.

The Company accounts for uncertainty in income taxes under ASC 740, Income Taxes. As of December 31, 2016 and 2015, the Company had no material uncertain tax positions. If a future liability does arise related to uncertainty in income taxes, the Company has elected an accounting policy to classify interest and penalties, if any, as income tax expense.

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2016

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 December 31, 2016 and 2015 (in thousands):



	2016						2015
	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets:
Interest rate contracts	$	—	$	23,229	$	—	$	—	$	—	$	—
Liabilities:
Interest rate contracts	$	—	$	15,058	$	—	$	—	$	19,228	$	—
Mercury TRA	—		—		147,040		—		—		191,207

Interest Rate Contracts

The Company uses interest rate contracts 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. The fair value of the interest rate caps is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected future cash flows of each interest rate cap. This analysis reflects the contractual terms of the interest rate caps, including the period to maturity, and uses observable market inputs including interest rate curves and implied volatilities. In addition, to comply with the provisions of ASC 820, Fair Value Measurement, 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 contracts 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 contracts fell within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its interest rate contracts 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 December 31, 2016 and 2015, the Company assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its interest rate contracts and determined that the credit valuation adjustment was not significant to the overall valuation of its interest rate contracts. As a result, the Company classified its interest rate contract valuations in Level 2 of the fair value hierarchy. See Note 8 - Derivatives and Hedging Activities for further discussion of the Company’s interest rate contracts.

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 input used in the fair value measurement of the Mercury TRA is the discount rate, which was approximately 14% as of December 31, 2016 and 2015. Any significant increase (decrease) in this input 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 change in value of the Mercury TRA from December 31, 2015 to December 31, 2016 consists of the increase in fair value of $19.5 million and the decrease from payments of $63.6 million related to the Mercury TRA obligations and the exercised call option. The Company recorded non-operating expenses of $19.5 million and $28.9 million related to the change in fair value during the years ended December 31, 2016 and 2015, respectively. See Note 7 - Tax Receivable Agreements for further discussion of the Mercury TRA including the roll forward of the fair value.

The following table summarizes carrying amounts and estimated fair values for the Company’s financial instrument liabilities that are not reported at fair value in our consolidated statements of financial position as of December 31, 2016 and 2015 (in thousands):



	2016				2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Liabilities:
Note payable	$	3,220,722	$	3,250,025	$	3,060,139	$	3,064,989

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.

- 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

12 Months Ended

Dec. 31, 2016

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. During the year ended December 31, 2016, approximately 35.0 million weighted-average Class B units of Vantiv Holding were excluded in computing diluted net income per share because including them would have had an antidilutive effect. As the Class B units of Vantiv Holding were not included, the numerator used in the calculation of diluted net income per share was equal to the numerator used in the calculation of basic net income per share for the year ended December 31, 2016. The adjusted effective tax rate used in the calculation was 36.0% for the years ended December 31, 2016 and 2015 and 36.5% for the year ended December 31, 2014. As of December 31, 2016 and 2015 there were approximately 35.0 million Class B units outstanding, respectively, and 43.0 million outstanding as of December 31, 2014.

In addition to the Class B units discussed above, potentially dilutive securities during the years ended December 31, 2016, 2015 and 2014 included restricted stock awards, restricted stock units, the warrant held by Fifth Third which allows for the purchase of Class C units of Vantiv Holding, stock options, performance awards and ESPP purchase rights. During the year ended December 31, 2016, 2015 and 2014, approximately 660,204, 472,518 and 508,097, respectively, performance awards have been excluded as the applicable performance metrics had not been met as of the reporting dates.

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 have not been presented.

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



	Year Ended December 31,
	2016		2015		2014
Basic:
Net income attributable to Vantiv, Inc.	$	213,208	$	147,946	$	125,292
Shares used in computing basic net income per share:
Weighted-average Class A common shares	156,043,636		145,044,577		141,936,933
Basic net income per share	$	1.37	$	1.02	$	0.88
Diluted:
Consolidated income before applicable income taxes	$	—	$	297,406	$	235,167
Income tax expense excluding impact of non-controlling interest	—		107,066		85,836
Net income attributable to Vantiv, Inc.	$	213,208	$	190,340	$	149,331
Shares used in computing diluted net income per share:
Weighted-average Class A common shares	156,043,636		145,044,577		141,936,933
Weighted-average Class B units of Vantiv Holding	—		42,521,087		45,472,332
Warrant	4,959,501		11,866,595		10,121,483
Stock options	531,165		545,180		318,175
Restricted stock awards, restricted stock units and employee stock purchase plan	510,694		696,273		1,321,890
Performance awards	70,553		260,730		—
Diluted weighted-average shares outstanding	162,115,549		200,934,442		199,170,813
Diluted net income per share	$	1.32	$	0.95	$	0.75

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2016

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

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

CAPITAL STOCK

Common Stock

As of December 31, 2016, 161,134,831 shares of Class A common stock and 35,042,826 shares of Class B common stock were issued and outstanding.

Secondary Offerings

The Company did not receive any proceeds from the sales noted above.

Share Repurchases

Preferred Stock

Dividend Restrictions

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
Year Ended December 31, 2016
Net change in fair value recorded in accumulated OCI	$	(14,336	)	$	(6,858	)	$	2,106		$	(4,752	)	$	1,269		$	(3,483	)	$	(17,819	)
Net realized loss reclassified into earnings ^(a)	5,132			12,735			(3,930		)	8,805			(2,315		)	6,490			11,622
Other	—			—			—			—			—			—			—
Net change	$	(9,204	)	$	5,877		$	(1,824	)	$	4,053		$	(1,046	)	$	3,007		$	(6,197	)

Year Ended December 31, 2015
Net change in fair value recorded in accumulated OCI	$	(5,288	)	$	(18,836	)	$	5,490		$	(13,346	)	$	4,298		$	(9,048	)	$	(14,336	)
Net realized loss reclassified into earnings ^(a)	1,732			6,990			(2,065		)	4,925			(1,525		)	3,400			5,132
Other	(212		)	212			—			212			—			212			—
Net change	$	(3,768	)	$	(11,634	)	$	3,425		$	(8,209	)	$	2,773		$	(5,436	)	$	(9,204	)

Year Ended December 31, 2014
Net change in fair value recorded in accumulated OCI	$	(5	)	$	(11,240	)	$	3,114		$	(8,126	)	$	2,843		$	(5,283	)	$	(5,288	)
Net realized loss reclassified into earnings ^(a)	269			3,040			(874		)	2,166			(703		)	1,463			1,732
Other	—			(212		)	—			(212		)	—			(212		)	(212		)
Net change	$	264		$	(8,412	)	$	2,240		$	(6,172	)	$	2,140		$	(4,032	)	$	(3,768	)

(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 years ended December 31, 2016, 2015 and 2014, reflect amounts of losses reclassified from AOCI into earnings, representing the effective portion of the hedging relationships, and are recorded in interest expense-net.

- Definition

+ References

+ Details

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS In connection with the Company’s separation from Fifth Third on June 30, 2009, the Company entered into various agreements which provide for services provided to or received from Fifth Third. Subsequent to the separation from Fifth Third, the Company continues to enter into various business agreements with Fifth Third. Transactions under these agreements are discussed below and throughout these notes to the accompanying consolidated financial statements. As discussed in Note 1 - Basis of Presentation and Summary of Significant Accounting Policies, Fifth Third currently holds 35,042,826 shares of Class B common stock representing 17.9% of the voting interests in Vantiv, Inc. and 35,042,826 Class B units of Vantiv Holding representing a 17.9% ownership interest in Vantiv Holding. Debt Agreements As discussed in Note 6 - Long-Term Debt, the Company had certain debt arrangements outstanding and available from Fifth Third. For the years ended December 31, 2016, 2015 and 2014, interest expense associated with these arrangements was $4.2 million, $4.4 million and $5.4 million, respectively, and commitment fees were $0.1 million, $0.2 million and $0.2 million, respectively. Lease Agreement The Company leases or subleases a number of office and/or data center locations with Fifth Third. Related party rent expense was approximately $3.7 million for the year ended December 31, 2016 and $3.8 million for the years ended December 31, 2015 and 2014. Service Processing and Other Service Agreements In July 2016, the Company amended and extended its Master Services Agreement with Fifth Third (the “EFT Service Agreement”), expiring in June 2019, through December 2024. The EFT Service Agreement is exclusive and provides Fifth Third and its subsidiary depository institutions with various electronic fund transfer, or EFT, services including debit card processing and ATM terminal driving services. Revenue for the EFT Service Agreement and other services is in the related party revenues line on the Company’s consolidated statement of income. Referral Agreement In July 2016, the Company amended and extended its exclusive referral arrangement with Fifth Third, expiring in June 2019, through December 2024. Commercial and retail merchant clients of Fifth Third and its subsidiary depository institutions that request merchant (credit or debit card) acceptance services are referred exclusively to us. In return for these referrals and the resulting merchant relationships, we make ongoing incentive payments to Fifth Third. Costs associated with this agreement totaled $0.7 million, $0.3 million and $0.3 million for the years ended December 31, 2016, 2015 and 2014, respectively. Clearing, Settlement and Sponsorship Agreement and Treasury Management Agreement As discussed in Note 1 - Basis of Presentation and Summary of Significant Accounting Policies, Fifth Third is a member of the Visa, Mastercard and other payment network associations. Fifth Third is the Company’s primary sponsor into the respective card associations. In July 2016, the Company amended and extended its agreement with Fifth Third, expiring in June 2019, through December 2024. Fifth Third also provides access to certain cash and treasury management services to the Company. For the years ended December 31, 2016, 2015 and 2014, the Company paid Fifth Third approximately $2.9 million, $2.3 million and $2.8 million, respectively, for these services. As discussed in Note 1 - Basis of Presentation and Summary of Significant Accounting Policies, the Company holds certain cash and cash equivalents on deposit at Fifth Third. At December 31, 2016 and 2015, approximately $90.5 million and $149.7 million, respectively, was held on deposit at Fifth Third. Interest income on deposits held at Fifth Third during the year ended December 31, 2014 was approximately $1.7 million. The interest income on such amounts during 2016 and 2015 was immaterial. Other Non-material Services The Company continues to receive certain other non-material services from Fifth Third. The total expense for other services provided by Fifth Third for the years ended December 31, 2016, 2015 and 2014 was $0.3 million, $0.4 million and $0.5 million, respectively.

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company’s segments consist of the Merchant Services segment and the Financial Institution Services segment, which are organized by the products and services the Company provides. 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. The Company’s reportable segments are the same as the Company’s operating segments and there is no aggregation of the Company’s operating segments. 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, 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.

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.



	Year Ended December 31, 2016
	Merchant Services		Financial Institution Services		Total
Total revenue	$	3,082,951	$	496,040	$	3,578,991
Network fees and other costs	1,537,072		137,158		1,674,230
Sales and marketing	557,942		24,309		582,251
Segment profit	$	987,937	$	334,573	$	1,322,510



	Year Ended December 31, 2015
	Merchant Services		Financial Institution Services		Total
Total revenue	$	2,656,906	$	503,032	$	3,159,938
Network fees and other costs	1,321,312		156,890		1,478,202
Sales and marketing	478,736		25,213		503,949
Segment profit	$	856,858	$	320,929	$	1,177,787



	Year Ended December 31, 2014
	Merchant Services		Financial Institution Services		Total
Total revenue	$	2,100,367	$	476,836	$	2,577,203
Network fees and other costs	1,033,801		140,864		1,174,665
Sales and marketing	367,998		28,355		396,353
Segment profit	$	698,568	$	307,617	$	1,006,185

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



	Year Ended December 31,
	2016			2015			2014
Total segment profit	$	1,322,510		$	1,177,787		$	1,006,185
Less: Other operating costs	(294,235		)	(284,066		)	(242,439		)
Less: General and administrative	(189,707		)	(182,369		)	(173,986		)
Less: Depreciation and amortization	(270,054		)	(276,942		)	(275,069		)
Less: Interest expense—net	(109,534		)	(105,736		)	(79,701		)
Less: Non-operating income (expense)	(36,256		)	(31,268		)	177
Income before applicable income taxes	$	422,724		$	297,406		$	235,167

- 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

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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 34
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Topic 280
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

+ Details

QUARTERLY CONSOLIDATED RESULTS OF OPERATIONS (UNAUDITED)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY CONSOLIDATED RESULTS OF OPERATIONS (UNAUDITED)

The following table sets forth our unaudited results of operations on a quarterly basis for the years ended December 31, 2016 and 2015.




	Dec 31, 2016		Sep 30, 2016		Jun 30, 2016		Mar 31, 2016		Dec 31, 2015		Sep 30, 2015		Jun 30, 2015		Mar 31, 2015
	(dollars in thousands)
Revenue	$	955,132	$	914,019	$	891,217	$	818,623	$	852,334	$	815,998	$	785,995	$	705,611
Network fees and other costs	452,720		423,361		410,736		387,413		399,159		385,548		362,349		331,146
Net revenue	502,412		490,658		480,481		431,210		453,175		430,450		423,646		374,465
Sales and marketing	148,521		153,248		144,844		135,638		132,488		132,481		122,925		116,055
Other operating costs	74,771		72,162		73,599		73,703		72,213		66,563		76,551		68,739
General and administrative	55,876		40,727		49,120		43,984		45,974		41,492		47,060		47,843
Depreciation and amortization	70,504		66,086		65,234		68,230		70,843		70,638		67,659		67,802
Income from operations	$	152,740	$	158,435	$	147,684	$	109,655	$	131,657	$	119,276	$	109,451	$	74,026
Net income	$	62,958	$	87,004	$	78,461	$	52,448	$	70,392	$	59,148	$	52,693	$	26,996
Net income (loss) attributable to Vantiv, Inc.	$	47,847	$	66,296	$	59,327	$	39,738	$	50,929	$	41,492	$	36,536	$	18,989
Net income (loss) per share attributable to Vantiv, Inc. Class A common stock:
Basic	$	0.30	$	0.43	$	0.38	$	0.26	$	0.35	$	0.29	$	0.25	$	0.13
Diluted	$	0.29	$	0.41	$	0.38	$	0.25	$	0.31	$	0.27	$	0.24	$	0.13

Our results of operations are subject to seasonal fluctuations in our revenue as a result of consumer spending patterns. Historically our revenues have been the strongest in the fourth quarter and weakest in our first quarter.

CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Notes)

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Registrant

SCHEDULE I - Condensed Financial Information of Registrant

Vantiv, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (PARENT COMPANY ONLY)

(In thousands)



	Year Ended December 31,
	2016			2015			2014
General and administrative	$	366		$	745		$	181
Loss from operations	(366		)	(745		)	(181		)
Non-operating income (expense), net	(58		)	(359		)	40,399
Income (loss) before income taxes and equity in net income of subsidiaries	(424		)	(1,104		)	40,218
Income tax expense	80,635			54,007			47,943
Loss before equity in net income of subsidiaries	(81,059		)	(55,111		)	(7,725		)
Equity in net income of subsidiaries	294,267			203,057			133,017
Net income attributable to Vantiv, Inc.	$	213,208		$	147,946		$	125,292

See Notes to Condensed Consolidated Financial Statements (Parent Company only).

SCHEDULE I - Condensed Financial Information of Registrant

Vantiv, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (PARENT COMPANY ONLY)

(In thousands)



	Year Ended December 31,
	2016		2015			2014
Net income attributable to Vantiv, Inc.	$	213,208	$	147,946		$	125,292
Other comprehensive income (loss), net of tax	3,007		(5,436		)	(4,032		)
Comprehensive income attributable to Vantiv, Inc.	$	216,215	$	142,510		$	121,260

See Notes to Condensed Consolidated Financial Statements (Parent Company only).

SCHEDULE I - Condensed Financial Information of Registrant

Vantiv, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (PARENT COMPANY ONLY)

(In thousands)



	December 31, 2016		December 31, 2015
Assets
Current assets:
Tax refund receivable	$	1,452	$	51,998
Total current assets	1,452		51,998
Investment in subsidiaries	1,260,427		1,008,907
Deferred taxes	769,365		731,258
Total assets	$	2,031,244	$	1,792,163
Liabilities and equity
Current liabilities:
Accounts payable and accrued expenses	$	2,548	$	795
Payable to subsidiaries	70,699		5,519
Current portion of tax receivable agreement obligations to related parties	191,014		31,232
Total current liabilities	264,261		37,546
Long-term liabilities:
Tax receivable agreement obligations to related parties	451,318		801,829
Total long-term liabilities	451,318		801,829
Total liabilities	715,579		839,375
Equity:
Total Vantiv, Inc. equity	1,315,665		952,788
Total liabilities and equity	$	2,031,244	$	1,792,163

See Notes to Condensed Consolidated Financial Statements (Parent Company only).

SCHEDULE I - Condensed Financial Information of Registrant

Vantiv, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (PARENT COMPANY ONLY)

(In thousands)



	Year Ended December 31,
	2016			2015			2014
Operating Activities:
Net income attributable to Vantiv, Inc.	$	213,208		$	147,946		$	125,292
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in net income of subsidiaries	(294,267		)	(203,057		)	(133,017		)
Deferred taxes	54,540			24,662			27,395
Tax receivable agreements non-cash items	53			(769		)	(40,399		)
Distributions from subsidiaries	84,844			68,892			58,551
Excess tax benefit from share-based compensation	(12,167		)	(16,707		)	(13,420		)
Change in operating assets and liabilities, net	20,030			28,834			(9,151		)
Net cash provided by operating activities	66,241			49,801			15,251
Investing Activities:
Proceeds from sale of Class A units in Vantiv Holding	87,617			216,933			77,165
Purchase of Class A units in Vantiv Holding	(15,389		)	(13,630		)	(4,492		)
Net cash provided by investing activities	72,228			203,303			72,673
Financing Activities:
Advances from subsidiaries, net	70,699			5,519			(20,032		)
Proceeds from exercise of Class A common stock options	15,389			13,630			4,492
Repurchase of Class A common stock	(81,369		)	(200,406		)	(59,364		)
Repurchase of Class A common stock (to satisfy tax withholding obligations)	(6,248		)	(16,527		)	(17,801		)
Settlement of certain tax receivable agreements	(117,874		)	(49,222		)	—
Payments under tax receivable agreements	(31,233		)	(22,805		)	(8,639		)
Excess tax benefit from share-based compensation	12,167			16,707			13,420
Net cash used in financing activities	(138,469		)	(253,104		)	(87,924		)
Net decrease in cash and cash equivalents	—			—			—
Cash and cash equivalents—Beginning of period	—			—			—
Cash and cash equivalents—End of period	$	—		$	—		$	—

Cash Payments:
Taxes	$	6,843		$	2,323		$	28,583
Non-cash Items:
Issuance of tax receivable agreements	$	171,162		$	376,597		$	109,400

See Notes to Condensed Consolidated Financial Statements (Parent Company only).

SCHEDULE I - Condensed Financial Information of Registrant

Vantiv, Inc.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (PARENT COMPANY ONLY)

1. BASIS OF PRESENTATION

For Vantiv, Inc.’s presentation (Parent Company only), the investment in subsidiaries is accounted for using the equity method. The condensed parent company financial statements and notes should be read in conjunction with the consolidated financial statements and notes of Vantiv, Inc. appearing in this Annual Report on Form 10-K.

Vantiv, Inc. is a holding company that does not conduct any business operations of its own and therefore its assets consist primarily of investments in subsidiaries. Vantiv Inc.’s cash inflows are primarily from cash dividends and distributions and other transfers from Vantiv Holding. Vantiv, Inc. may not be able to access cash generated by its subsidiaries in order to fulfill cash commitments or to pay cash dividends on its common stock. The amounts available to Vantiv, Inc. to fulfill cash commitments or to pay cash dividends are also subject to the covenants and distribution restrictions in its subsidiaries’ loan agreements. For a discussion on the tax receivable agreements, see Note 7- Tax Receivable Agreements in the consolidated financial statements and notes of Vantiv, Inc. appearing in this Annual Report on Form 10-K.

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References + Details

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

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 pass through expenses incurred by the Company in connection with providing processing services 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 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 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 income (expense):


◦	Non-operating expense for the year ended December 31, 2016 relates to the change in fair value of the Mercury TRA entered into as part of the acquisition of Mercury (see Note 7 - Tax Receivable Agreements) and a charge related to the refinancing of the Company’s senior secured credit facilities in October 2016 (see Note 6 - Long-Term Debt).


◦	Non-operating expense for the year ended December 31, 2015 primarily relates to the change in the fair value of the Mercury TRA (see Note 7 - Tax Receivable Agreements).

◦

Share-Based Compensation

Earnings Per Share

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

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.

Accounts Receivable—net

Customer Incentives

Property and Equipment—net

Property, Equipment and Software—net

Goodwill and Intangible Assets

Settlement Assets and Obligations

Derivatives

New Accounting Pronouncements

Segment

•

BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2016

Business Acquisition

Business acquisition, pro forma information



	Year Ended December 31,
	2014
	(in thousands, except share data)
Total revenue	$	2,737,024
Income from operations	322,746
Net income including non-controlling interests	174,797
Net income attributable to Vantiv, Inc.	129,630
Net income per share attributable to Vantiv, Inc. Class A common stock:
Basic	$	0.91
Diluted	$	0.78
Shares used in computing net income per share of Class A common stock:
Basic	141,936,933
Diluted	199,170,813

Moneris Solutions, Inc.

Business Acquisition

Schedule of recognized identified assets acquired and liabilities assumed

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



Cash acquired	$	22,851
Current assets	44,967
Property and equipment	22
Intangible assets	75,000
Goodwill	372,061
Current liabilities	(63,322		)
Deferred tax liability	(18,950		)
Non-current liabilities	(3,001		)
Total purchase price	$	429,628

Mercury Payment Systems, LLC

Business Acquisition

Schedule of business acquisitions by acquisition, contingent consideration

The following table summarizes the purchase price consideration 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

PROPERTY, EQUIPMENT AND SOFTWARE (Tables)

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Summary of the Company's property and equipment

A summary of the Company’s property, equipment and software is as follows (in thousands):



	Estimated Useful Life	December 31, 2016			December 31, 2015
Land	N/A	$	6,401		$	6,401
Building and improvements	15 - 40 years	34,298			33,938
Furniture and equipment	2 - 10 years	171,104			134,191
Software	3 - 8 years	412,490			319,866
Leasehold improvements	3 - 10 years	8,846			8,885
Work in progress		25,094			45,061
Accumulated depreciation		(309,680		)	(240,333		)
Property, equipment and software - net		$	348,553		$	308,009

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2016

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 December 31, 2015	2,791,678		574,850		3,366,528
Goodwill attributable to acquisition of Moneris USA	372,061		—		372,061
Balance as of December 31, 2016	$	3,163,739	$	574,850	$	3,738,589

⁽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 December 31, 2016 and 2015, the Company’s finite lived intangible assets consisted of the following (in thousands):



	December 31, 2016		December 31, 2015
Customer relationship intangible assets	$	1,671,581	$	1,596,581
Trade name	—		21,733
Customer portfolios and related assets	178,480		129,734
Patents	955		366
	1,851,016		1,748,414
Less accumulated amortization on:
Customer relationship intangible assets	980,595		821,580
Trade name	—		14,350
Customer portfolios and related assets	82,601		49,418
	1,063,196		885,348
Intangible assets, net	$	787,820	$	863,066

Schedule of expected amortization expense

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



2017	$	208,890
2018	190,639
2019	175,623
2020	97,702
2021	49,137

CAPITAL LEASES (Tables)

12 Months Ended

Dec. 31, 2016

Capital Leases of Lessee [Abstract]

Future minimum lease payments required under capital leases and the present value of net minimum lease payments

The future minimum lease payments required under capital leases and the present value of net minimum lease payments as of December 31, 2016 are as follows (in thousands):



	Amount
2017	$	8,221
2018	8,969
2019	4,484
Total minimum lease payments	21,674
Less: Amount representing interest	(581		)
Present value of minimum lease payments	21,093
Less: Current maturities of capital lease obligations	(7,870		)
Long-term capital lease obligations	$	13,223

LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Schedule of the Company's debt

As of December 31, 2016 and 2015, the Company’s long-term debt consisted of the following (in thousands):



	December 31, 2016			December 31, 2015
Term A loan, maturing in October 2021⁽¹⁾	$	2,469,375		$	—
Term B loan, maturing in October 2023⁽²⁾	765,000			—
Term A loan, maturing on June 13, 2019⁽³⁾	—			1,896,250
Term B loan, maturing on June 13, 2021⁽⁴⁾	—			1,179,000
Leasehold mortgage, expiring on August 10, 2021⁽⁵⁾	10,131			10,131
Less: Current portion of note payable and current portion of note payable to related party	(131,119		)	(116,501		)
Less: Original issue discount	(3,631		)	(6,024		)
Less: Debt issuance costs	(20,153		)	(19,218		)
Note payable and note payable to related party	$	3,089,603		$	2,943,638

- 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)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

TAX RECEIVABLE AGREEMENTS TAX RECEIVABLE AGREEMENTS (Tables)

12 Months Ended

Dec. 31, 2016

Tax Receivable Agreements Disclosure [Abstract]

Tax Receivable Agreement Obligation Settlements

The following table presents the Company’s TRA settlements and the impact of these settlements on the Company’s consolidated statement of financial position (in thousands):



TRA	Settlement Date	Cash Buyout Payment			Balance Sheet Obligation Prior to Settlement		Deferred Taxes and Other		Net Gain Recorded in Equity
Fifth Third	July 2016	$	(116,294	)	$	330,711	$	84,099	$	130,318
Mercury	June 2016	(41,400		)	41,400		—		—
Fifth Third	October 2015	(48,866		)	140,024		32,967		58,191
Mercury	July 2015	(44,800		)	44,800		—		—

Schedule of the Company's Liability Pursuant to the TRAs

The following table reflects TRA activity and balances for the years ended December 31, 2016, 2015 and 2014 (in thousands):



	Balance as of December 31, 2013		2014 TRA Payment			2014 Secondary Offering		Acquisition of Mercury		Change in Value			Balance as of December 31, 2014
TRA with Fifth Third Bank	$	559,700	$	(8,639	)	$	109,400	$	—	$	(40,399	)	$	620,062
Mercury TRA	—		—			—		137,860		14,560			152,420
Total	$	559,700	$	(8,639	)	$	109,400	$	137,860	$	(25,839	)	$	772,482



	Balance as of December 31, 2014		2015 TRA Payment			2015 TRA Settlements			2015 Secondary Offering		Purchase Accounting Adjustment		Change in Value			Balance as of December 31, 2015
TRA with Fifth Third Bank	$	620,062	$	(22,805	)	$	(140,024	)	$	376,597	$	—	$	(769	)	$	833,061
Mercury TRA	152,420		—			(44,800		)	—		54,647		28,940			191,207
Total	$	772,482	$	(22,805	)	$	(184,824	)	$	376,597	$	54,647	$	28,171		$	1,024,268



	Balance as of December 31, 2015		2016 TRA Payment			2016 TRA Settlements			2016 Secondary Offering		Change in Value		Balance as of December 31, 2016
TRA with Fifth Third Bank	$	833,061	$	(31,233	)	$	(330,711	)	$	171,162	$	53	$	642,332
Mercury TRA	191,207		(22,241		)	(41,400		)	—		19,474		147,040
Total	$	1,024,268	$	(53,474	)	$	(372,111	)	$	171,162	$	19,527	$	789,372

Tax Receivable Agreements- Impact of Secondary Offerings

As a result of the secondary offerings and exchange of units of Vantiv Holding by Fifth Third Bank discussed in Note 12 - Capital Stock, the Company recorded the following (in thousands):



Secondary Offerings by Year	TRA Liability		Deferred Tax Asset		Net Equity
2016	$	171,162	$	175,279	$	(4,117	)
2015	376,597		355,430		21,167
2014	109,400		92,000		17,400

DERIVATIVES AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2016

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	December 31, 2016		December 31, 2015
Interest rate contracts	Other current assets	$	2,144	$	—
Interest rate contracts	Other long-term assets	21,085		—
Interest rate contracts	Other current liabilities	9,551		9,343
Interest rate contracts	Other long-term liabilities	5,507		9,885

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



	Year Ended December 31,
	2016			2015			2014
Derivatives in cash flow hedging relationships:
Amount of loss recognized in OCI (effective portion) ⁽¹⁾	$	(6,858	)	$	(18,836	)	$	(11,240	)
Amount of loss reclassified from accumulated OCI into earnings (effective portion)	(12,735		)	(6,990		)	(3,040		)
Amount of loss recognized in earnings ⁽²⁾	—			—			(1		)


⁽¹⁾	“OCI” represents other comprehensive income.


⁽²⁾	For the year ended December 31, 2014, amount represents hedge ineffectiveness.

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

12 Months Ended

Dec. 31, 2016

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	%
Fifth Third exchange of Vantiv Holding units for shares of Class A common stock in connection with December 2015 secondary offering	8,000,000		(8,000,000	)	—
Fifth Third exchange of Class C units of Vantiv Holding for shares of Class A common stock in connection with partial warrant exercise	5,374,592		—		5,374,592
Share repurchases	(4,445,551	)	—		(4,445,551	)
Equity plan activity ⁽¹⁾	1,104,277		—		1,104,277
As of December 31, 2015	155,488,326		35,042,826		190,531,152
% of ownership	81.61	%	18.39	%
Fifth Third exchange of Class C units of Vantiv Holding for shares of Class A common stock in connection with remaining warrant exercise	5,651,432		—		5,651,432
Share repurchases	(1,406,600	)	—		(1,406,600	)
Equity plan activity ⁽¹⁾	1,401,673		—		1,401,673
As of December 31, 2016	161,134,831		35,042,826		196,177,657
% of ownership	82.14	%	17.86	%


⁽¹⁾	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):



	Year Ended December 31,
	2016		2015		2014
Net income	$	280,871	$	209,229	$	168,990
Items not allocable to non-controlling interests:
Vantiv, Inc. expenses ⁽¹⁾	81,059		55,111		7,725
Vantiv Holding net income	$	361,930	$	264,340	$	176,715

Net income attributable to non-controlling interests of Fifth Third ⁽²⁾	$	65,789	$	58,938	$	43,022
Net income attributable to joint venture non-controlling interest ⁽³⁾	1,874		2,345		676
Total net income attributable to non-controlling interests	$	67,663	$	61,283	$	43,698

⁽¹⁾ Primarily represents income tax expense related to Vantiv, Inc. and TRA related expense (credits) (see Note 7 - Tax Receivable Agreements).


⁽³⁾	Reflects net income attributable to the non-controlling interest of the joint venture.

COMMITMENTS, CONTINGENCIES AND GUARANTEES (Tables)

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Schedule of future minimum commitments under non-cancelable operating leases

The Company leases office space under non-cancelable operating leases that expire between March 2017 and December 2045. Future minimum commitments under these leases are as follows (in thousands):



Year Ended December 31,
2017	9,704
2018	7,636
2019	5,809
2020	4,375
2021	4,048
Thereafter	13,197
Total	$	44,769

SHARE-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Restricted Stock

The following table presents the number and weighted-average grant date fair value of the restricted stock awards for the year ended December 31, 2016:



	Restricted Class A Common Stock - Time Awards		Weighted Average Grant Date Fair Value		Restricted Class A Common Stock - Performance Awards		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2015	166,454		$	35.22	332,840		$	37.86
Granted	24,998		50.80		241,544		50.01
Vested	(24,089	)	14.00		—		—
Forfeited	(6,053	)	41.42		(27,646	)	41.95
Non-vested at December 31, 2016	161,310		$	40.57	546,738		$	43.02

Schedule of Restricted Stock Units

The following table presents the number and weighted-average grant date fair value of the restricted stock units for the year ended December 31, 2016:



	Restricted Stock Units		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2015	988,007		$	31.24
Granted	420,817		51.75
Vested	(344,212	)	28.06
Forfeited	(141,330	)	36.40
Non-vested at December 31, 2016	923,282		$	40.98

Schedule of Stock Options

The following table summarizes stock option activity for the year ended December 31, 2016:



	Stock Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding options at December 31, 2015	2,310,243		$	26.74	8.01	$	47,780
Granted	695,666		50.02
Exercised	(537,871	)	21.43			18,379
Expired	(9,033	)	31.39
Forfeited	(257,563	)	33.09
Outstanding options at December 31, 2016	2,201,442		$	35.21	7.72	$	53,738

Options exercisable at December 31, 2016	608,076		$	26.24	6.69	$	20,299

Schedule of Weighted-average Assumptions Options

The weighted-average grant date fair value was estimated by the Company using the Black-Scholes option pricing model with the assumptions below:



			2014
	2016	2015	Vantiv Grant	Mercury Replacement Options
Number of options granted	695,666	707,738	710,297	1,750,519
Weighted average exercise price	$50.01 - $52.04	$37.10	$31.02	$10.18 - $29.79
Expected option life at grant (in years)	6.25	6.25	6.25	3.00 - 6.00
Expected volatility	24.77%	26.33%	25.00%	24.80% - 30.80%
Expected dividend yield	—%	—%	—%	—%
Risk-free interest rate	1.41% - 1.45%	1.67%	1.93%	0.93% - 1.96%
Fair value	$13.92 - $14.43	$11.04	$9.07	$17.75 - $22.10

Schedule of Performance Share Units

The following table presents the number and weighted-average grant date fair value of the performance share units for the year ended December 31, 2016:



	Performance Share Units		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2015	472,518		$	29.73
Granted	72,813		50.04
Incremental shares upon completion of performance goals	154,024		21.95
Vested	(325,459	)	22.48
Forfeited	(57,195	)	31.73
Non-vested at December 31, 2016	316,701		$	37.70

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of summary of applicable income taxes

The following is a summary of applicable income taxes (in thousands):



	Year Ended December 31,
	2016		2015			2014
Current income tax expense:
U.S. income taxes	$	57,966	$	28,586		$	29,234
State and local income taxes	4,219		4,311			4,474
Total current tax expense	62,185		32,897			33,708
Deferred income tax expense (benefit):
U.S. income taxes	70,786		55,553			36,070
State and local income taxes	8,882		(273		)	(3,601		)
Total deferred tax expense	79,668		55,280			32,469
Applicable income tax expense	$	141,853	$	88,177		$	66,177

Schedule of reconciliation of the U.S. income tax rate and the Company's effective tax rate

A reconciliation of the U.S. income tax rate and the Company’s effective tax rate for all periods is provided below:



	Year Ended December 31,
	2016		2015		2014
Federal statutory tax rate	35.0	%	35.0	%	35.0	%
State taxes-net of federal benefit	2.8		2.7		2.6
Effect of changes in deferred tax rates	0.1		(1.9	)	(3.1	)
Non-controlling interest	(4.6	)	(5.9	)	(5.6	)
Other-net	0.3		(0.3	)	(0.8	)
Effective tax rate	33.6	%	29.6	%	28.1	%

Schedule of deferred income tax assets and liabilities

Deferred income tax assets and liabilities are comprised of the following as of December 31, 2016 and 2015 (in thousands):



	December 31, 2016			December 31, 2015
Deferred tax assets
Net operating losses	$	14,085		$	25,569
Employee benefits	69			55
Other assets	2,236			2,316
Other accruals and reserves	89,239			79,925
Partnership basis	771,311			728,532
Deferred tax assets	876,940			836,397
Deferred tax liabilities
Property and equipment	(13,677		)	(9,840		)
Goodwill and intangible assets	(150,687		)	(109,988		)
Deferred tax liability	(164,364		)	(119,828		)
Deferred tax asset-net	$	712,576		$	716,569

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2016

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 December 31, 2016 and 2015 (in thousands):



	2016						2015
	Fair Value Measurements Using
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets:
Interest rate contracts	$	—	$	23,229	$	—	$	—	$	—	$	—
Liabilities:
Interest rate contracts	$	—	$	15,058	$	—	$	—	$	19,228	$	—
Mercury TRA	—		—		147,040		—		—		191,207

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



	2016				2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Liabilities:
Note payable	$	3,220,722	$	3,250,025	$	3,060,139	$	3,064,989

NET INCOME PER SHARE (Tables)

12 Months Ended

Dec. 31, 2016

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):



	Year Ended December 31,
	2016		2015		2014
Basic:
Net income attributable to Vantiv, Inc.	$	213,208	$	147,946	$	125,292
Shares used in computing basic net income per share:
Weighted-average Class A common shares	156,043,636		145,044,577		141,936,933
Basic net income per share	$	1.37	$	1.02	$	0.88
Diluted:
Consolidated income before applicable income taxes	$	—	$	297,406	$	235,167
Income tax expense excluding impact of non-controlling interest	—		107,066		85,836
Net income attributable to Vantiv, Inc.	$	213,208	$	190,340	$	149,331
Shares used in computing diluted net income per share:
Weighted-average Class A common shares	156,043,636		145,044,577		141,936,933
Weighted-average Class B units of Vantiv Holding	—		42,521,087		45,472,332
Warrant	4,959,501		11,866,595		10,121,483
Stock options	531,165		545,180		318,175
Restricted stock awards, restricted stock units and employee stock purchase plan	510,694		696,273		1,321,890
Performance awards	70,553		260,730		—
Diluted weighted-average shares outstanding	162,115,549		200,934,442		199,170,813
Diluted net income per share	$	1.32	$	0.95	$	0.75

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Dec. 31, 2016

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
Year Ended December 31, 2016
Net change in fair value recorded in accumulated OCI	$	(14,336	)	$	(6,858	)	$	2,106		$	(4,752	)	$	1,269		$	(3,483	)	$	(17,819	)
Net realized loss reclassified into earnings ^(a)	5,132			12,735			(3,930		)	8,805			(2,315		)	6,490			11,622
Other	—			—			—			—			—			—			—
Net change	$	(9,204	)	$	5,877		$	(1,824	)	$	4,053		$	(1,046	)	$	3,007		$	(6,197	)

Year Ended December 31, 2015
Net change in fair value recorded in accumulated OCI	$	(5,288	)	$	(18,836	)	$	5,490		$	(13,346	)	$	4,298		$	(9,048	)	$	(14,336	)
Net realized loss reclassified into earnings ^(a)	1,732			6,990			(2,065		)	4,925			(1,525		)	3,400			5,132
Other	(212		)	212			—			212			—			212			—
Net change	$	(3,768	)	$	(11,634	)	$	3,425		$	(8,209	)	$	2,773		$	(5,436	)	$	(9,204	)

Year Ended December 31, 2014
Net change in fair value recorded in accumulated OCI	$	(5	)	$	(11,240	)	$	3,114		$	(8,126	)	$	2,843		$	(5,283	)	$	(5,288	)
Net realized loss reclassified into earnings ^(a)	269			3,040			(874		)	2,166			(703		)	1,463			1,732
Other	—			(212		)	—			(212		)	—			(212		)	(212		)
Net change	$	264		$	(8,412	)	$	2,240		$	(6,172	)	$	2,140		$	(4,032	)	$	(3,768	)

(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 years ended December 31, 2016, 2015 and 2014, reflect amounts of losses reclassified from AOCI into earnings, representing the effective portion of the hedging relationships, and are recorded in interest expense-net.

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Schedule of results of operations for each segment



	Year Ended December 31, 2016
	Merchant Services		Financial Institution Services		Total
Total revenue	$	3,082,951	$	496,040	$	3,578,991
Network fees and other costs	1,537,072		137,158		1,674,230
Sales and marketing	557,942		24,309		582,251
Segment profit	$	987,937	$	334,573	$	1,322,510



	Year Ended December 31, 2015
	Merchant Services		Financial Institution Services		Total
Total revenue	$	2,656,906	$	503,032	$	3,159,938
Network fees and other costs	1,321,312		156,890		1,478,202
Sales and marketing	478,736		25,213		503,949
Segment profit	$	856,858	$	320,929	$	1,177,787



	Year Ended December 31, 2014
	Merchant Services		Financial Institution Services		Total
Total revenue	$	2,100,367	$	476,836	$	2,577,203
Network fees and other costs	1,033,801		140,864		1,174,665
Sales and marketing	367,998		28,355		396,353
Segment profit	$	698,568	$	307,617	$	1,006,185

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):



	Year Ended December 31,
	2016			2015			2014
Total segment profit	$	1,322,510		$	1,177,787		$	1,006,185
Less: Other operating costs	(294,235		)	(284,066		)	(242,439		)
Less: General and administrative	(189,707		)	(182,369		)	(173,986		)
Less: Depreciation and amortization	(270,054		)	(276,942		)	(275,069		)
Less: Interest expense—net	(109,534		)	(105,736		)	(79,701		)
Less: Non-operating income (expense)	(36,256		)	(31,268		)	177
Income before applicable income taxes	$	422,724		$	297,406		$	235,167

QUARTERLY CONSOLIDATED RESULTS OF OPERATIONS (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly financial information

The following table sets forth our unaudited results of operations on a quarterly basis for the years ended December 31, 2016 and 2015.




	Dec 31, 2016		Sep 30, 2016		Jun 30, 2016		Mar 31, 2016		Dec 31, 2015		Sep 30, 2015		Jun 30, 2015		Mar 31, 2015
	(dollars in thousands)
Revenue	$	955,132	$	914,019	$	891,217	$	818,623	$	852,334	$	815,998	$	785,995	$	705,611
Network fees and other costs	452,720		423,361		410,736		387,413		399,159		385,548		362,349		331,146
Net revenue	502,412		490,658		480,481		431,210		453,175		430,450		423,646		374,465
Sales and marketing	148,521		153,248		144,844		135,638		132,488		132,481		122,925		116,055
Other operating costs	74,771		72,162		73,599		73,703		72,213		66,563		76,551		68,739
General and administrative	55,876		40,727		49,120		43,984		45,974		41,492		47,060		47,843
Depreciation and amortization	70,504		66,086		65,234		68,230		70,843		70,638		67,659		67,802
Income from operations	$	152,740	$	158,435	$	147,684	$	109,655	$	131,657	$	119,276	$	109,451	$	74,026
Net income	$	62,958	$	87,004	$	78,461	$	52,448	$	70,392	$	59,148	$	52,693	$	26,996
Net income (loss) attributable to Vantiv, Inc.	$	47,847	$	66,296	$	59,327	$	39,738	$	50,929	$	41,492	$	36,536	$	18,989
Net income (loss) per share attributable to Vantiv, Inc. Class A common stock:
Basic	$	0.30	$	0.43	$	0.38	$	0.26	$	0.35	$	0.29	$	0.25	$	0.13
Diluted	$	0.29	$	0.41	$	0.38	$	0.25	$	0.31	$	0.27	$	0.24	$	0.13

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Consolidation (Details) - Vantiv Holding	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Class A Unit of Vantiv Holding \| Vantiv, Inc.
Principles of consolidation
Ownership percentage by Vantiv, Inc	82.14%	81.61%	77.17%
Class B Unit of Vantiv Holding \| Fifth Third
Principles of consolidation
Ownership percentage by Fifth Third	17.86%	18.39%	22.83%

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Income Taxes (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Valuation allowance against deferred assets	$ 0	$ 0

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Write-off trade name used in ISO channel	$ 34,300	$ 0	$ 0	$ 34,267
Amortization period of trade name used in ISO Channel	2 years

BUSINESS COMBINATIONS Estimated Fair Value of Purchase Price (Details) - USD ($) $ in Thousands	1 Months Ended
	Jun. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition
Issuance of tax receivable agreement as contingent consideration		$ 0	$ 0	$ 137,860
Mercury Payment Systems, LLC
Business Acquisition
Cash purchase price paid at closing	$ 1,681,179
Issuance of tax receivable agreement as contingent consideration	192,507
Total purchase price	$ 1,873,686

BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands			3 Months Ended	7 Months Ended	12 Months Ended
BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	Dec. 21, 2016	Jun. 13, 2014	Dec. 31, 2016	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015
Purchase Price Allocation
Goodwill			$ 3,738,589	$ 3,291,366	$ 3,738,589	$ 3,366,528
Moneris Solutions, Inc.
Business Acquisition
Percentage of voting interests acquired	100.00%
Incurred expenses from acquisition			$ 12,300
Purchase Price Allocation
Cash acquired	$ 22,851
Current assets	44,967
Property, equipment and software	22
Intangible assets	75,000
Goodwill	372,061
Current liabilities	(63,322)
Deferred tax liabilities	(18,950)
Current and non-current liabilities	(3,001)
Total purchase price	429,628
Mercury Payment Systems, LLC
Business Acquisition
Percentage of voting interests acquired		100.00%
Incurred expenses from acquisition				17,900
Actual revenue of Mercury since acquisition date				$ 217,000
Fair value of Mercury replacement options		$ 32,100
Fair value of Mercury replacement options related to services provided prior to the acquisition		17,700
Purchase Price Allocation
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
Customer relationships intangible assets
Business Acquisition
Finite-lived intangible assets acquired, weighted average useful life					4 years 4 months 8 days	4 years 9 months 19 days
Customer relationships intangible assets \| Moneris Solutions, Inc.
Business Acquisition
Finite-lived Intangible Assets Acquired	$ 75,000
Finite-lived intangible assets acquired, weighted average useful life	5 years
Customer relationships intangible assets \| Mercury Payment Systems, LLC
Business Acquisition
Finite-lived Intangible Assets Acquired		$ 332,000
Finite-lived intangible assets acquired, weighted average useful life		10 years
Trade name - finite lived \| Mercury Payment Systems, LLC
Business Acquisition
Finite-lived Intangible Assets Acquired		$ 15,000
Finite-lived intangible assets acquired, weighted average useful life		2 years 6 months

BUSINESS COMBINATIONS Pro Forma (Details) - Mercury Payment Systems, LLC $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2014 USD ($) $ / shares shares
Business Acquisition
Pro forma revenue	$ 2,737,024
Pro forma income from operations	322,746
Pro forma net income including noncontrolling interest	174,797
Pro forma net income attributable to Vantiv, Inc	$ 129,630
Pro Forma Net income per share attributable to Vantiv, Inc. Class A common stock
Pro forma earnings per share, basic \| $ / shares	$ 0.91
Pro forma earnings per share, diluted \| $ / shares	$ 0.78
Pro Forma Shares used in computing net income per share of Class A common stock
Pro forma weighted average basic shares outstanding \| shares	141,936,933
Pro forma weighted average diluted shares outstanding \| shares	199,170,813

PROPERTY, EQUIPMENT AND SOFTWARE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment
Property, equipment and software - net	$ 348,553	$ 308,009
Depreciation and amortization expense	270,054	276,942	$ 240,802
Land
Property, Plant and Equipment
Property, plant and equipment, gross	6,401	6,401
Building and improvements
Property, Plant and Equipment
Property, plant and equipment, gross	$ 34,298	33,938
Building and improvements \| Minimum
Property, Plant and Equipment
Estimated Useful Life	15 years
Building and improvements \| Maximum
Property, Plant and Equipment
Estimated Useful Life	40 years
Furniture and equipment
Property, Plant and Equipment
Property, plant and equipment, gross	$ 171,104	134,191
Furniture and equipment \| Minimum
Property, Plant and Equipment
Estimated Useful Life	2 years
Furniture and equipment \| Maximum
Property, Plant and Equipment
Estimated Useful Life	10 years
Software
Property, Plant and Equipment
Property, plant and equipment, gross	$ 412,490	319,866
Software \| Minimum
Property, Plant and Equipment
Estimated Useful Life	3 years
Software \| Maximum
Property, Plant and Equipment
Estimated Useful Life	8 years
Leasehold improvements
Property, Plant and Equipment
Property, plant and equipment, gross	$ 8,846	8,885
Leasehold improvements \| Minimum
Property, Plant and Equipment
Estimated Useful Life	3 years
Leasehold improvements \| Maximum
Property, Plant and Equipment
Estimated Useful Life	10 years
Work in progress
Property, Plant and Equipment
Property, plant and equipment, gross	$ 25,094	45,061
Property equipment and software
Property, Plant and Equipment
Accumulated depreciation	(309,680)	(240,333)
Property, equipment and software - net	348,553	308,009
Depreciation and amortization expense	$ 70,500	$ 76,600	$ 70,000

GOODWILL AND INTANGIBLE ASSETS - Goodwill (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Goodwill

Goodwill at beginning of period

$ 3,366,528

$ 3,291,366

Goodwill attributable to acquisition

372,061

75,162

^[1]

Goodwill at end of period

3,738,589

3,366,528

Merchant Services

Goodwill

Goodwill at beginning of period

2,791,678

2,716,516

Goodwill at end of period

3,163,739

2,791,678

Financial Institution Services

Goodwill

Goodwill at beginning of period

574,850

Goodwill at end of period

574,850

Mercury Payment Systems, LLC | Merchant Services

Goodwill

Goodwill attributable to acquisition

^[1]

75,162

Mercury Payment Systems, LLC | Financial Institution Services

Goodwill

Goodwill attributable to acquisition

^[1]

$ 0

Moneris Solutions, Inc. | Merchant Services

Goodwill

Goodwill attributable to acquisition

372,061

Moneris Solutions, Inc. | Financial Institution Services

Goodwill

Goodwill attributable to acquisition

$ 0

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

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets
Finite-lived intangible assets, gross		$ 1,851,016	$ 1,748,414
Finite-lived intangible assets, accumulated amortization		1,063,196	885,348
Intangible assets—net		787,820	863,066
Amortization expense on finite lived intangible assets		199,600	200,400	$ 205,100
Write-off trade name used in ISO channel	$ 34,300	0	0	$ 34,267
Revised value of trade name used in ISO channel	$ 6,700
Amortization period of trade name used in ISO Channel	2 years
Estimate amortization expense of finite lived intangible assets for the next five years
2017		208,890
2018		190,639
2019		175,623
2020		97,702
2021		49,137
Customer relationships intangible assets
Finite-Lived Intangible Assets
Finite-lived intangible assets, gross		1,671,581	1,596,581
Finite-lived intangible assets, accumulated amortization		$ 980,595	$ 821,580
Finite-lived intangible assets acquired, weighted average useful life		4 years 4 months 8 days	4 years 9 months 19 days
Trade name - finite lived
Finite-Lived Intangible Assets
Finite-lived intangible assets, gross		$ 0	$ 21,733
Finite-lived intangible assets, accumulated amortization		0	14,350
Customer Portfolios and related assets
Finite-Lived Intangible Assets
Finite-lived intangible assets, gross		178,480	129,734
Finite-lived intangible assets, accumulated amortization		82,601	49,418
Patents
Finite-Lived Intangible Assets
Finite-lived intangible assets, gross		$ 955	$ 366

CAPITAL LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
CAPITAL LEASES (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Capital Leases of Lessee [Abstract]
Cost of equipment under capital leases	$ 36,600	$ 36,600
Accumulated depreciation of equipment under capital leases	12,700	4,400
Depreciation expense associated with equipment under capital leases	8,300	7,800	$ 6,000
Future minimum lease payments required under capital leases and the present value of net minimum lease payments
2017	8,221
2018	8,969
2019	4,484
Total minimum lease payments	21,674
Less: Amount representing interest	(581)
Present value of minimum lease payments	21,093
Less: Current maturities of capital lease obligations	(7,870)	(7,931)
Long-term capital lease obligations	$ 13,223	$ 21,801

LONG-TERM DEBT (Details) - USD ($) $ in Thousands	Oct. 14, 2016	Jun. 13, 2014	Dec. 31, 2016	Dec. 31, 2015
Long-term debt
Note payable and note payable to related party			$ 3,089,603	$ 2,943,638
Term loan for corporate headquarters
Long-term debt
Long-term debt, gross			$ 10,131	10,131
Leasehold mortgage fixed interest rate (as a percent)			6.22%
October 2016 debt refinancing
Long-term debt
Less: Current portion of note payable and current portion of note payable to related party			$ (131,119)
Less: Original issue discount			(3,631)
Less: Debt issuance costs			(20,153)
October 2016 debt refinancing \| Term A loan
Long-term debt
Long-term debt, gross			$ 2,469,375
Spread rate (as a percent)	2.00%
Variable base rate	LIBOR
Interest rate (as a percent)			2.70%
Term A loan first twelve quarters amortization percentage	1.25%
Term A loan next four quarters amortization percentage	1.875%
Term A Loan following three quarters amortization percentage	2.50%
October 2016 debt refinancing \| Term B loan
Long-term debt
Long-term debt, gross			$ 765,000
Spread rate (as a percent)	2.50%
Variable base rate	LIBOR
Interest rate (as a percent)			3.25%
Term B loan amortization percentage	0.25%
June 2014 debt refinancing
Long-term debt
Less: Current portion of note payable and current portion of note payable to related party				(116,501)
Less: Original issue discount				(6,024)
Less: Debt issuance costs				(19,218)
June 2014 debt refinancing \| Term A loan
Long-term debt
Long-term debt, gross				$ 1,896,250
Spread rate (as a percent)		2.00%
Variable base rate		LIBOR
Interest rate (as a percent)				2.33%
June 2014 debt refinancing \| Term B loan
Long-term debt
Long-term debt, gross				$ 1,179,000
Spread rate (as a percent)		3.00%
Variable base rate		LIBOR
Interest rate (as a percent)				3.75%
Minimum \| October 2016 debt refinancing \| Term B loan
Long-term debt
Spread rate (as a percent)	0.75%
Minimum \| June 2014 debt refinancing \| Term B loan
Long-term debt
Spread rate (as a percent)		0.75%

LONG-TERM DEBT (Details 2) - USD ($) $ in Millions				12 Months Ended
LONG-TERM DEBT (Details 2) - USD ($) $ in Millions	Oct. 14, 2016	Jan. 06, 2015	Jun. 13, 2014	Dec. 31, 2016	Dec. 31, 2015
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				$ 25.0
October 2016 debt refinancing
Long-term debt
Unamortized deferred financing cost written off				16.6
June 2014 debt refinancing
Long-term debt
Unamortized deferred financing cost written off					$ 26.5
Term A loan \| October 2016 debt refinancing
Long-term debt
Face value of debt	$ 2,500.0
Term A loan \| October 2016 debt refinancing \| Fifth Third
Long-term debt
Notes Payable, Related Parties				$ 151.1
Term A loan \| June 2014 debt refinancing
Long-term debt
Face value of debt			$ 2,050.0
Term A loan \| June 2014 debt refinancing \| Fifth Third
Long-term debt
Notes Payable, Related Parties					$ 191.5
Term A loan \| May 2013 Debt Refinancing
Long-term debt
Repayments of Debt			1,800.0
Term B loan \| October 2016 debt refinancing
Long-term debt
Face value of debt	765.0
Term B loan \| June 2014 debt refinancing
Long-term debt
Face value of debt			1,400.0
Repayments of Debt		$ 200.0
Unamortized deferred financing cost written off		$ 1.8
Revolving credit facility \| October 2016 debt refinancing
Long-term debt
Maximum borrowing capacity	$ 650.0
Commitment fees (as a percent)	0.375%
Revolving credit facility \| June 2014 debt refinancing
Long-term debt
Maximum borrowing capacity			$ 425.0
Commitment fees (as a percent)			0.375%
Swing line credit facility \| October 2016 debt refinancing
Long-term debt
Maximum borrowing capacity	$ 100.0
Swing line credit facility \| June 2014 debt refinancing
Long-term debt
Maximum borrowing capacity			$ 100.0
Letter of credit facility \| October 2016 debt refinancing
Long-term debt
Maximum borrowing capacity	$ 40.0
Letter of credit facility \| June 2014 debt refinancing
Long-term debt
Maximum borrowing capacity			$ 40.0

TAX RECEIVABLE AGREEMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Tax receivable agreement
Tax Receivable Agreement Payments as a Percentage of Cash Savings in Tax	85.00%
Tax Receivable Agreement, Cash Savings Percent	15.00%
Cash payments to settle certain tax receivable agreements	$ (159,274)	$ (94,022)	$ 0
TRA obligations Settled under cash buyout payment	372,111	184,824
Net gain recorded related to TRA settlements	130,318	58,191
Mercury Payment Systems, LLC
Tax receivable agreement
Cash payments to settle certain tax receivable agreements	(41,400)	(44,800)
TRA obligations Settled under cash buyout payment	41,400	44,800
Fifth Third
Tax receivable agreement
Cash payments to settle certain tax receivable agreements	(116,294)	(48,866)
TRA obligations Settled under cash buyout payment	330,711	140,024
Deferred tax adjustments related to TRA obligation settlements	84,099	32,967
Net gain recorded related to TRA settlements	$ 130,318	$ 58,191

TAX RECEIVABLE AGREEMENTS (Details 2) - USD ($) $ in Thousands	12 Months Ended			13 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015
Tax receivable agreement
TRA obligations, beginning balance	$ 1,024,268	$ 772,482	$ 559,700
Payments under tax receivable agreements	(53,474)	(22,805)	(8,639)
TRA obligations settled, balance sheet obligations prior to settlement	(372,111)	(184,824)
TRA liability recorded related to secondary offerings	171,162	376,597	109,400
TRA liability recorded related to acquisitions		54,647	137,860
TRAs change in value	19,527	28,171	(25,839)
TRA obligations, ending balance	789,372	1,024,268	772,482
Fifth Third
Tax receivable agreement
TRA obligations, beginning balance	833,061	620,062	559,700
Payments under tax receivable agreements	(31,233)	(22,805)	(8,639)
TRA obligations settled, balance sheet obligations prior to settlement	(330,711)	(140,024)
TRA liability recorded related to secondary offerings	171,162	376,597	109,400
TRAs change in value	53	(769)	(40,399)
TRA obligations, ending balance	642,332	833,061	620,062
Mercury Payment Systems, LLC
Tax receivable agreement
TRA obligations, beginning balance	191,207	152,420	0
Payments under tax receivable agreements	(22,241)
TRA obligations settled, balance sheet obligations prior to settlement	(41,400)	(44,800)
TRA liability recorded related to acquisitions		54,647	137,860	$ 192,500
TRAs change in value	19,474	28,940	14,560
TRA obligations, ending balance	$ 147,040	$ 191,207	$ 152,420

TAX RECEIVABLE AGREEMENTS (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Tax receivable agreement
TRA liability recorded related to secondary offerings	$ 171,162	$ 376,597	$ 109,400
Adjustment to additional paid in capital related to TRA	(4,117)	(21,167)	(17,400)
Fifth Third
Tax receivable agreement
TRA liability recorded related to secondary offerings	171,162	376,597	109,400
Fifth Third \| Vantiv Holding
Tax receivable agreement
Deferred tax assets attributable to exchange of units of subsidiary	$ 175,279	$ 355,430	$ 92,000

TAX RECEIVABLE AGREEMENTS (Details 4) - USD ($) $ in Thousands		1 Months Ended		12 Months Ended			13 Months Ended
	Jul. 27, 2016	Jan. 31, 2017	Jul. 24, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015
Tax receivable agreement
Other non-operating income						$ 41,300
Mercury TRA liability recorded					$ 54,647	137,860
Cash payments to settle certain tax receivable agreements				$ (159,274)	(94,022)	0
Tax Receivable Agreement Obligations Settled As a Result of Prepayment				372,111	184,824
Current portion of Fifth Third callable/puttable TRA Obligations				191,014	31,232
Payments under tax receivable agreements				53,474	22,805	8,639
TRAs change in value				19,527	28,171	(25,839)
Mercury Payment Systems, LLC
Tax receivable agreement
Mercury TRA liability recorded					54,647	137,860	$ 192,500
Other nonoperating expense				19,500	28,900	14,600
Cash payments to settle certain tax receivable agreements				(41,400)	(44,800)
Tax Receivable Agreement Obligations Settled As a Result of Prepayment				41,400	44,800
Payments under tax receivable agreements				22,241
TRAs change in value				19,474	28,940	14,560
Mercury Payment Systems, LLC \| Minimum \| President
Tax receivable agreement
Cash payments to settle certain tax receivable agreements			$ (600)
Mercury Payment Systems, LLC \| Maximum \| President
Tax receivable agreement
Cash payments to settle certain tax receivable agreements			$ (2,200)
Mercury Payment Systems, LLC \| Call Option
Tax receivable agreement
2016 cash payment to terminate Mercury TRA under Call Options					41,400
2017 cash payment to terminate Mercury TRA under Call Options					38,100
2018 cash payment to terminate Mercury TRA under Call Options					38,000
2019 cash payment to terminate Mercury TRA under Call Options					43,000
Fifth Third
Tax receivable agreement
Cash payments to settle certain tax receivable agreements				(116,294)	(48,866)
Tax Receivable Agreement Obligations Settled As a Result of Prepayment				330,711	140,024
Payments under tax receivable agreements				31,233	22,805	8,639
TRAs change in value				53	$ (769)	$ (40,399)
Fifth Third \| Call Option
Tax receivable agreement
Cash payments to settle certain tax receivable agreements	$ (170,700)
Tax Receivable Agreement Obligations Settled As a Result of Prepayment	394,100
Q1 2017 Fifth Third TRA settlement payment under Call Options	15,100
Q2 2017 Fifth Third TRA settlement payment under Call Options	15,600
Q3 2017 Fifth Third TRA settlement payment under Call Options	16,100
Q4 2017 Fifth Third TRA settlement payment under Call Options	16,600
Q1 2018 Fifth Third TRA settlement payment under Call Options	25,600
Q2 2018 Fifth Third TRA settlement payment under Call Options	26,400
Q3 2018 Fifth Third TRA settlement payment under Call Options	27,200
Q4 2018 Fifth Third TRA settlement payment under Call Options	$ 28,100
Current portion of Fifth Third callable/puttable TRA Obligations				$ 157,700
Subsequent Event
Tax receivable agreement
Payments under tax receivable agreements		$ 55,700

DERIVATIVES AND HEDGING ACTIVITIES (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Cash flow hedges of interest rate risk

Cash flow hedge loss to be reclassified within twelve months

$ 11,200

Fair value of interest rate contracts designated as cash flow hedges

Upfront premium of interest rate cap agreements

21,523

$ 0

Derivatives in cash flow hedging relationships:

Amount of gain (loss) recognized in OCI (effective portion)

^[1]

(6,858)

(18,836)

(11,240)

Amount of loss reclassified from accumulated OCI into earnings (effective portion)

(12,735)

(6,990)

(3,040)

Amount of gain (loss) recognized on interest rate cash flow hedge ineffectiveness

^[2]

$ (1)

Aggregate fair value of derivatives, net liability position

15,900

Other current assets

Fair value of interest rate contracts designated as cash flow hedges

Fair value of hedge assets

2,144

Other long-term assets

Fair value of interest rate contracts designated as cash flow hedges

Fair value of hedge assets

21,085

Other current liabilities

Fair value of interest rate contracts designated as cash flow hedges

Fair value of hedge liabilities

9,551

9,343

Other long-term liabilities

Fair value of interest rate contracts designated as cash flow hedges

Fair value of hedge liabilities

$ 5,507

$ 9,885

Interest rate cap

Cash flow hedges of interest rate risk

Number of interest rate derivatives held

Notional amount

$ 1,000,000

Interest rate cap agreement strike rate

0.75%

Fair value of interest rate contracts designated as cash flow hedges

Upfront premium of interest rate cap agreements

$ 21,500

Fair value of hedge assets

$ 23,200

Interest rate swaps

Cash flow hedges of interest rate risk

Number of interest rate derivatives held

Interest rate swaps | Covering period from June 2016 through June 2017

Cash flow hedges of interest rate risk

Number of interest rate derivatives held

Notional amount

$ 1,100,000

Interest rate swaps | Covering period from January 2016 through January 2019

Cash flow hedges of interest rate risk

Number of interest rate derivatives held

Notional amount

$ 500,000

Interest rate swaps | Fifth Third

Cash flow hedges of interest rate risk

Number of interest rate derivatives held

Interest rate swaps | Fifth Third | Maximum

Cash flow hedges of interest rate risk

Notional amount

$ 262,500

Interest rate swaps | Fifth Third | Minimum

Cash flow hedges of interest rate risk

Notional amount

$ 250,000

[1]	“OCI” represents other comprehensive income.
[2]	For the year ended December 31, 2014, amount represents hedge ineffectiveness.

CONTROLLING AND NON-CONTROLLING INTERESTS OWNERSHIP INTEREST IN JOINT VENTURE (Details) - Joint Venture $ in Millions	May 31, 2014 USD ($)
Controlling and non-controlling interest in Joint Venture
Ownership percentage by Vantiv, Inc	51.00%
Bank Partner
Controlling and non-controlling interest in Joint Venture
Ownership percentage by Bank Partner	49.00%
Formation of Joint Ventures	$ 18.8

CONTROLLING AND NON-CONTROLLING INTERESTS IN VANTIV HOLDING (Details)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Nov. 28, 2016

Dec. 31, 2016

USD ($)

Sep. 30, 2016

USD ($)

Jun. 30, 2016

USD ($)

Mar. 31, 2016

USD ($)

Dec. 31, 2015

USD ($)

Sep. 30, 2015

USD ($)

Jun. 30, 2015

USD ($)

Mar. 31, 2015

USD ($)

Dec. 31, 2016

USD ($)

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Mar. 21, 2012

Jun. 30, 2009

USD ($)

$ / shares

Changes in units and related ownership interest

Payments for repurchase of warrants under the Warrant Cancellation Agreement | $

$ 0

$ 200,219

$ 0

Vantiv Holding net income, Including Portion Attributable to Noncontrolling Interest [Abstract]

Net income | $

$ 62,958

$ 87,004

$ 78,461

$ 52,448

$ 70,392

$ 59,148

$ 52,693

$ 26,996

280,871

209,229

168,990

Items not allocable to non-controlling interests:

Vantiv, Inc. expenses | $

^[1]

81,059

55,111

7,725

Net income attributable to Vantiv Holding | $

361,930

264,340

176,715

Net Income Attributable to Noncontrolling Interest

Net income attributable to non-controlling interests | $

67,663

61,283

43,698

Fifth Third

Net Income Attributable to Noncontrolling Interest

Net income attributable to non-controlling interests | $

^[2]

65,789

58,938

43,022

Bank Partner

Net Income Attributable to Noncontrolling Interest

Net income attributable to non-controlling interests | $

^[3]

$ 1,874

$ 2,345

$ 676

Vantiv Holding

Changes in units and related ownership interest

Balance (in shares)

190,531,152

188,497,834

190,531,152

188,497,834

Issuance of Class A common stock in connection with secondary offering (in shares)

(5,651,432)

Issuance of common shares in connection with warrant exercise

5,374,592

Class A common stock repurchased and retired during period, (in shares)

(1,406,600)

(4,445,551)

Equity plan activity (in shares)

1,401,673

^[4]

1,104,277

^[1]

Balance (in shares)

196,177,657

190,531,152

196,177,657

190,531,152

188,497,834

Common Stock

Changes in units and related ownership interest

Conversion ratio for conversion of LLC units into common stock

Class A Common Stock

Changes in units and related ownership interest

Balance (in shares)

155,488,326

Class A common stock repurchased and retired during period, (in shares)

(850,000)

(1,400,000)

(1,900,000.0)

Balance (in shares)

161,134,831

155,488,326

161,134,831

155,488,326

Class A Common Stock | Common Stock

Changes in units and related ownership interest

Balance (in shares)

155,488,000

145,455,000

155,488,000

145,455,000

141,759,000

Issuance of common shares in connection with warrant exercise

5,651,000

5,375,000

Class A common stock repurchased and retired during period, (in shares)

(1,407,000)

(4,446,000)

(1,936,000)

Balance (in shares)

161,135,000

155,488,000

161,135,000

155,488,000

145,455,000

Class B Common Stock

Changes in units and related ownership interest

Balance (in shares)

35,042,826

43,000,000

35,042,826

43,000,000

Balance (in shares)

35,042,826

43,000,000

Class B Common Stock | Common Stock

Changes in units and related ownership interest

Balance (in shares)

35,043,000

43,043,000

35,043,000

43,043,000

48,823,000

Balance (in shares)

35,043,000

43,043,000

Class B Common Stock | Fifth Third

Changes in units and related ownership interest

Balance (in shares)

35,042,826

Class C Non-Voting Units | Warrant

Changes in units and related ownership interest

Issuance of common shares in connection with warrant exercise

5,700,000

5,400,000

Class C Non-Voting Units | Vantiv Holding | Warrant | Fifth Third

Changes in units and related ownership interest

Warrant outstanding (in shares)

7,800,000

20,400,000

Warrant exercise price (in dollars per share) | $ / shares

$ 15.98

Carrying value of warrants outstanding | $

$ 25,000

Warrant fair value | $

$ 65,400

Class C units cancelled under the Warrant Cancellation Agreement

4,800,000

Payments for repurchase of warrants under the Warrant Cancellation Agreement | $

$ 200,000

Value of warrant exercised | $

$ 25,000

Class A Unit of Vantiv Holding | Vantiv, Inc. | Vantiv Holding

Changes in units and related ownership interest

Balance (in shares)

155,488,326

145,455,008

155,488,326

145,455,008

Opening percentage of ownership by parent

81.61%

77.17%

81.61%

77.17%

Issuance of Class A common stock in connection with secondary offering (in shares)

(5,651,432)

(8,000,000)

Issuance of common shares in connection with warrant exercise

5,374,592

Class A common stock repurchased and retired during period, (in shares)

(1,406,600)

(4,445,551)

Equity plan activity (in shares)

1,401,673

^[4]

1,104,277

^[1]

Balance (in shares)

161,134,831

155,488,326

161,134,831

155,488,326

145,455,008

Closing percentage of ownership by parent

82.14%

81.61%

82.14%

81.61%

77.17%

Class B Unit of Vantiv Holding | Fifth Third | Vantiv Holding

Changes in units and related ownership interest

Balance (in shares)

35,042,826

43,042,826

35,042,826

43,042,826

Opening percentage of ownership by noncontrolling interest

18.39%

22.83%

18.39%

22.83%

Issuance of Class A common stock in connection with secondary offering (in shares)

(8,000,000)

Balance (in shares)

35,042,826

43,042,826

Closing percentage of ownership by noncontrolling interest

17.86%

18.39%

17.86%

18.39%

22.83%

[1]	Primarily represents income tax expense related to Vantiv, Inc. and TRA related expense (credits) (see Note 7 - Tax Receivable Agreements).
[2]	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.
[3]	Reflects net income attributable to the non-controlling interest of the joint venture
[4]	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.

COMMITMENTS, CONTINGENCIES AND GUARANTEES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Future minimum commitments under non-cancelable operating leases
2017	$ 9,704
2018	7,636
2019	5,809
2020	4,375
2021	4,048
Thereafter	13,197
Total	44,769
Rent expense	$ 9,400	$ 11,600	$ 9,900

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	12 Months Ended
EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Expenses associated with the defined contribution savings plan	$ 10.1	$ 9.1	$ 7.3

CAPITAL STOCK (Details)					12 Months Ended
CAPITAL STOCK (Details)	Nov. 28, 2016 USD ($) shares	Dec. 08, 2015 shares	Jun. 30, 2014 shares	Mar. 10, 2014 shares	Dec. 31, 2016 USD ($) vote $ / shares shares	Dec. 31, 2015 USD ($) $ / shares shares	Dec. 31, 2014 USD ($) shares	Oct. 25, 2016 USD ($)	Feb. 12, 2014 USD ($)
Common Stock
Number of votes per share to which holders are entitled on all matters submitted to a vote \| vote					1
Class A common stock repurchased and retired during period, value \| $					$ 81,369,000	$ 200,406,000	$ 59,364,000
Preferred Stock
Authorized preferred stock (in shares)					10,000,000	10,000,000
Preferred stock par value (in dollars per share) \| $ / shares					$ 0.00001	$ 0.00001
Preferred stock, shares outstanding (in shares)					0	0
Class A Common Stock
Common Stock
Authorized common stock (in shares)					890,000,000	890,000,000
Common stock, par value (in dollars per share) \| $ / shares					$ 0.00001	$ 0.00001
Common stock, shares outstanding (in shares)					161,134,831	155,488,326
Shares of stock sold by selling shareholders in secondary offering issued to underwriters	4,800,000	13,400,000	5,800,000	18,800,000
Class A common stock repurchased and retired during period, (in shares)	850,000				1,400,000		1,900,000.0
Class A common stock repurchased and retired during period, value \| $	$ 50,800,000				$ 81,400,000		$ 59,400,000
Class A Common Stock \| February 2014 Authorized Share Repurchase Program
Common Stock
Stock repurchase program, authorized amount \| $									$ 300,000,000
Class A common stock repurchased and retired during period, (in shares)						4,400,000
Class A common stock repurchased and retired during period, value \| $						$ 200,000,000
Stock repurchase program, remaining authorized repurchase amount \| $							$ 275,000,000
Class A Common Stock \| October 2016 Authorized Share Repurchase Program
Common Stock
Stock repurchase program, authorized amount \| $								$ 250,000,000
Stock repurchase program, remaining authorized repurchase amount \| $					$ 243,000,000
Class A Common Stock \| Class B Unit of Vantiv Holding \| Vantiv Holding
Common Stock
Conversion ratio for conversion of Class B units into Class A common stock					1
Class B Common Stock
Common Stock
Authorized common stock (in shares)					100,000,000	100,000,000
Common stock, shares outstanding (in shares)					35,042,826	35,042,826	43,000,000
Class B Common Stock \| Maximum
Common Stock
Fifth Third voting power as percentage of total voting power					18.50%
Vantiv Holding
Common Stock
Common stock, shares outstanding (in shares)					196,177,657	190,531,152	188,497,834
Class A common stock repurchased and retired during period, (in shares)					1,406,600	4,445,551

SHARE-BASED COMPENSATION PLANS SHARE-BASED COMPENSATION PLANS- RESTRICTED STOCK (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Mar. 21, 2012
Equity Incentive Plan 2012 \| Restricted Stock
2012 Equity Incentive Plan, Weighted Average Grant Date Fair Value
Grants in period, weighted average grant date fair value	$ 50.08	$ 38.10
2012 Equity Incentive Plan
Total vest date fair value of restricted stock awards vested	$ 1.2	$ 47.2	$ 53.4
Time Awards \| Equity Incentive Plan 2012 \| Restricted Stock
2012 Equity Incentive Plan, Roll Forwards (in Shares)
Non-vested beginning of period	166,454
Grants in period	24,998
Vested in period	(24,089)
Forfeited in period	(6,053)
Non-vested end of period	161,310	166,454
2012 Equity Incentive Plan, Weighted Average Grant Date Fair Value
Non-vested beginning of period, weighted average grant date fair value	$ 35.22
Grants in period, weighted average grant date fair value	50.80
Vested in period, weighted average grant date fair value	14.00
Forfeitures, weighted average grant date fair value	41.42
Non-vested end of period, weighted average grant date fair value	$ 40.57	$ 35.22
Performance Awards \| Restricted Stock
2012 Equity Incentive Plan
Performance awards, period of participants service in years	3 years
Performance Awards \| Equity Incentive Plan 2012 \| Restricted Stock
2012 Equity Incentive Plan, Roll Forwards (in Shares)
Non-vested beginning of period	332,840
Grants in period	241,544
Vested in period	0
Forfeited in period	(27,646)
Non-vested end of period	546,738	332,840
2012 Equity Incentive Plan, Weighted Average Grant Date Fair Value
Non-vested beginning of period, weighted average grant date fair value	$ 37.86
Grants in period, weighted average grant date fair value	50.01
Vested in period, weighted average grant date fair value	0
Forfeitures, weighted average grant date fair value	41.95
Non-vested end of period, weighted average grant date fair value	$ 43.02	$ 37.86
2012 Equity Incentive Plan
Performance share units minimum number of shares authorized to award	0.00%
Performance share units maximum number of shares authorized to award	200.00%
Class A Common Stock \| Equity Incentive Plan 2012
2012 Equity Incentive Plan
Maximum number of shares of Class A stock authorized under the 2012 Equity Incentive Plan				35,500,000.0

SHARE-BASED COMPENSATION PLANS SHARE-BASED COMPENSATION PLANS- RESTRICTED STOCK UNITS (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Equity Incentive Plan 2012
2012 Equity Incentive Plan, Roll Forwards (in Shares)
Non-vested beginning of period	988,007
Grants in period	420,817
Vested in period	(344,212)
Forfeited in period	(141,330)
Non-vested end of period	923,282	988,007
2012 Equity Incentive Plan, Weighted Average Grant Date Fair Value
Non-vested beginning of period, weighted average grant date fair value	$ 31.24
Grants in period, weighted average grant date fair value	51.75	$ 38.42	$ 31.30
Vested in period, weighted average grant date fair value	28.06
Forfeitures, weighted average grant date fair value	36.40
Non-vested end of period, weighted average grant date fair value	$ 40.98	$ 31.24
2012 Equity Incentive Plan
Total vest date fair value of restricted stock units vested	$ 18.3	$ 10.5	$ 5.1
Board of Directors
2012 Equity Incentive Plan
Restricted stock units vesting period	1 year
Minimum \| Active Employees
2012 Equity Incentive Plan
Restricted stock units vesting period	3 years
Maximum \| Active Employees
2012 Equity Incentive Plan
Restricted stock units vesting period	4 years

SHARE-BASED COMPENSATION PLANS SHARE-BASED COMPENSATION PLANS- STOCK OPTIONS (Details) - Stock Option - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
2012 Equity Incentive Plan, Options, Roll Forwards (in Shares)
Options outstanding beginning of period	2,310,243
Options, grants in period	695,666
Options, exercises in period	(537,871)
Options, expirations in period	(9,033)
Options, forfeitures in period	(257,563)
Options outstanding end of period	2,201,442	2,310,243
Options exercisable end of period	608,076
2012 Equity Incentive Plan, Options, Weighted Average Exercise Price[Abstract]
Weighted average exercise price at December 31, 2015	$ 26.74
Weighted average exercise price of options granted	50.02
Options, exercises in period, weighted average exercise price	21.43
Options, expirations in period, weighted average exercise price	31.39
Options, forfeitures in period, weighted average exercise price	33.09
Weighted average exercise price at December 31, 2016	35.21	$ 26.74
Options exercisable end of period, weighted average exercise price	$ 26.24
Weighted average remaining contractual term of options outstanding in years	7 years 8 months 21 days	8 years 4 days
Weighted average remaining contractual term of options exercisable in years	6 years 8 months 10 days
Intrinsic value of options outstanding	$ 53,738	$ 47,780
Intrinsic value of options exercised in period	18,379	$ 17,500	$ 4,400
Intrinsic value of options exercisable end of period	$ 20,299
Options Pricing Model Assumptions
Options, grants in period	695,666
Weighted average exercise price of options granted	$ 50.02
Options expiration period in years	10 years
Mercury Payment Systems, LLC 2010 Unit Incentive Plan
2012 Equity Incentive Plan, Options, Roll Forwards (in Shares)
Options, grants in period			1,750,519
Options Pricing Model Assumptions
Options, grants in period			1,750,519
Expected dividend yield			0.00%
Mercury replacement options vesting period	4 years 6 months
Equity Incentive Plan 2012
2012 Equity Incentive Plan, Options, Roll Forwards (in Shares)
Options, grants in period	695,666	707,738	710,297
2012 Equity Incentive Plan, Options, Weighted Average Exercise Price[Abstract]
Weighted average exercise price of options granted		$ 37.10	$ 31.02
Options Pricing Model Assumptions
Options, grants in period	695,666	707,738	710,297
Weighted average exercise price of options granted		$ 37.10	$ 31.02
Expected option life at grant (in years)	6 years 3 months	6 years 3 months	6 years 3 months
Expected volatility	24.77%	26.33%	25.00%
Expected dividend yield	0.00%	0.00%	0.00%
Risk-free interest rate		1.67%	1.93%
Fair value		$ 11.04	$ 9.07
Minimum \| Mercury Payment Systems, LLC 2010 Unit Incentive Plan
2012 Equity Incentive Plan, Options, Weighted Average Exercise Price[Abstract]
Weighted average exercise price of options granted			10.18
Options Pricing Model Assumptions
Weighted average exercise price of options granted			$ 10.18
Expected option life at grant (in years)			3 years
Expected volatility			24.80%
Risk-free interest rate			0.93%
Fair value			$ 17.75
Prescribed acceleration period of options	12 months
Minimum \| Equity Incentive Plan 2012
2012 Equity Incentive Plan, Options, Weighted Average Exercise Price[Abstract]
Weighted average exercise price of options granted	$ 50.01
Options Pricing Model Assumptions
Weighted average exercise price of options granted	$ 50.01
Risk-free interest rate	1.41%
Fair value	$ 13.92
Maximum \| Mercury Payment Systems, LLC 2010 Unit Incentive Plan
2012 Equity Incentive Plan, Options, Weighted Average Exercise Price[Abstract]
Weighted average exercise price of options granted			29.79
Options Pricing Model Assumptions
Weighted average exercise price of options granted			$ 29.79
Expected option life at grant (in years)			6 years
Expected volatility			30.80%
Risk-free interest rate			1.96%
Fair value			$ 22.10
Prescribed acceleration period of options	24 months
Maximum \| Equity Incentive Plan 2012
2012 Equity Incentive Plan, Options, Weighted Average Exercise Price[Abstract]
Weighted average exercise price of options granted	$ 52.04
Options Pricing Model Assumptions
Weighted average exercise price of options granted	$ 52.04
Risk-free interest rate	1.45%
Fair value	$ 14.43
Four annual increments \| Equity Incentive Plan 2012
Options Pricing Model Assumptions
Annual incremental percentage of stock options vested	25.00%
Vesting percentage after one year \| Mercury Payment Systems, LLC 2010 Unit Incentive Plan
Options Pricing Model Assumptions
Annual incremental percentage of stock options vested	22.22%

SHARE-BASED COMPENSATION PLANS SHARE-BASED COMPENSATION PLANS- PERFORMANCE SHARE UNITS (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
2012 Equity Incentive Plan
Total allocated share-based compensation Expense		$ 35.9	$ 30.5	$ 42.2
Tax benefits related to share-based compensation		10.9	$ 8.8	$ 12.9
Unrecognized share-based compensation		$ 57.9
Period for recognition of unrecognized share-based compensation		2 years 4 months 15 days
Equity Incentive Plan 2012 \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period		3 years
2012 Equity Incentive Plan, Roll Forwards (in Shares)
Non-vested beginning of period	316,701	472,518
Grants in period		72,813
Incremental shares upon completion of performance goals		154,024
Vested in period		(325,459)
Forfeited in period		(57,195)
Non-vested end of period		316,701	472,518
2012 Equity Incentive Plan, Weighted Average Grant Date Fair Value
Non-vested beginning of period, weighted average grant date fair value	$ 37.70	$ 29.73
Grants in period, weighted average grant date fair value		50.04	$ 39.16	$ 31.02
Incremental grants in period, weighted average grant date fair value		21.95
Vested in period, weighted average grant date fair value		22.48
Forfeitures, weighted average grant date fair value		31.73
Non-vested end of period, weighted average grant date fair value		$ 37.70	$ 29.73
2012 Equity Incentive Plan
Performance share units minimum number of shares authorized to award		0.00%
Performance share units target number of shares authorized to award		100.00%
Performance share units maximum number of shares authorized to award		200.00%
Total vest date fair value of performance share units vested		$ 17.1	$ 1.2	$ 2.0
Subsequent Event \| Equity Incentive Plan 2012 \| Performance Shares
2012 Equity Incentive Plan, Roll Forwards (in Shares)
Grants in period	150,739
2012 Equity Incentive Plan
Performance share units maximum number of shares authorized to award	200.00%

SHARE-BASED COMPENSATION PLANS SHARE BASED COMPENSATION PLANS - EMPLOYEE STOCK PURCHASE PLAN (Details) - Employee Stock Purchase Plan shares in Millions	12 Months Ended
	Dec. 31, 2016 shares
Share-based Compensation Arrangement by Share-based Payment Award
ESPP purchase period	6 months
Common stock reserved for issuance under ESPP	2.5
ESPP purchase price of common stock, percent of fair market value	85.00%
ESPP discount from fair market value on purchase date	15.00%

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current income tax expense:
U.S. income taxes	$ 57,966	$ 28,586	$ 29,234
State and local income taxes	4,219	4,311	4,474
Total current tax expense	62,185	32,897	33,708
Deferred income tax expense (benefit):
U.S. income taxes	70,786	55,553	36,070
State and local income taxes	8,882	(273)	(3,601)
Total deferred tax expense	79,668	55,280	32,469
Applicable income tax expense	$ 141,853	$ 88,177	$ 66,177
Reconciliation of the U.S. income tax rate and the Company's effective tax rate
Federal statutory tax rate	35.00%	35.00%	35.00%
State taxes-net of federal benefit	2.80%	2.70%	2.60%
Effect of changes in deferred tax rates	0.10%	(1.90%)	(3.10%)
Non-controlling interest	(4.60%)	(5.90%)	(5.60%)
Other-net	0.30%	(0.30%)	(0.80%)
Effective tax rate	33.60%	29.60%	28.10%
Deferred tax assets
Net operating losses	$ 14,085	$ 25,569
Employee benefits	69	55
Other assets	2,236	2,316
Other accruals and reserves	89,239	79,925
Partnership basis	771,311	728,532
Deferred tax assets	876,940	836,397
Deferred tax liabilities
Property and equipment	(13,677)	(9,840)
Goodwill and intangible assets	(150,687)	(109,988)
Deferred tax liability	(164,364)	(119,828)
Deferred tax asset-net	$ 712,576	$ 716,569

INCOME TAXES - Narrative (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Operating Loss Carryforwards
Valuation allowance against deferred assets	$ 0	$ 0
Income tax receivable	8,300,000	$ 53,200,000
Internal Revenue Service (IRS)
Operating Loss Carryforwards
Tax loss carryforwards	38,000,000
State and Local Jurisdiction
Operating Loss Carryforwards
Tax loss carryforwards	$ 16,900,000

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Assets and liabilities measured at fair value on a recurring basis
Change in fair value of TRA	$ 19,527	$ 28,171	$ (25,839)
Liabilities:
Mercury TRA	789,372	1,024,268	772,482	$ 559,700
Recurring basis \| Level 2 \| Interest Rate Contract
Assets:
Fair value of hedge assets	23,229
Liabilities:
Fair value of hedge liabilities	15,058	19,228
Mercury Payment Systems, LLC
Assets and liabilities measured at fair value on a recurring basis
Change in fair value of TRA	19,474	28,940	14,560
Decrease of Mercury TRA	63,600
Liabilities:
Mercury TRA	$ 147,040	191,207	$ 152,420	$ 0
Mercury Payment Systems, LLC \| Recurring basis \| Level 3
Assets and liabilities measured at fair value on a recurring basis
Fair value of Mercury TRA, discount rate	14.00%
Liabilities:
Mercury TRA	$ 147,040	$ 191,207

FAIR VALUE MEASUREMENTS (Details 2) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Carrying Amount
Liabilites:
Note payable	$ 3,220,722	$ 3,060,139
Fair Value
Liabilites:
Note payable	$ 3,250,025	$ 3,064,989

NET INCOME PER SHARE NARRATIVE (Details) - shares	12 Months Ended
NET INCOME PER SHARE NARRATIVE (Details) - shares	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share, Diluted
Adjusted Effective Tax Rate	36.00%	36.00%	36.50%
Class A Common Stock
Earnings Per Share, Diluted
Vantiv Holding shares outstanding (in shares)	161,134,831	155,488,326
Class B Common Stock
Earnings Per Share, Diluted
Vantiv Holding shares outstanding (in shares)	35,042,826	35,042,826	43,000,000
Subsidiaries \| Class B Unit of Vantiv Holding \| Class A Common Stock
Earnings Per Share, Diluted
Conversion ratio for conversion of Class B units into Class A common stock	1

SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Performance Share Units
Antidilutive Securities Excluded from Computation of Earnings Per Share
Number of shares attributable to conversion of performance share units into shares of Class A common stock excluded from computation of diluted EPS (in shares)	660,204	472,518	508,097
Class B Unit of Vantiv Holding
Antidilutive Securities Excluded from Computation of Earnings Per Share
Number of shares attributable to conversion of performance share units into shares of Class A common stock excluded from computation of diluted EPS (in shares)	35,000,000

NET INCOME PER SHARE (Basic) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share, Basic
Net income attributable to Vantiv, Inc.	$ 47,847	$ 66,296	$ 59,327	$ 39,738	$ 50,929	$ 41,492	$ 36,536	$ 18,989	$ 213,208	$ 147,946	$ 125,292
Basic net income per share (in dollars per share)	$ 0.30	$ 0.43	$ 0.38	$ 0.26	$ 0.35	$ 0.29	$ 0.25	$ 0.13
Class A Common Stock
Earnings Per Share, Basic
Weighted-average Class A common shares outstanding, basic, (in shares)									156,043,636	145,044,577	141,936,933
Basic net income per share (in dollars per share)									$ 1.37	$ 1.02	$ 0.88

NET INCOME PER SHARE (Dilutive) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Diluted:
Consolidated income before applicable income taxes									$ 422,724	$ 297,406	$ 235,167
Income tax expense excluding impact of non-controlling interest										107,066	85,836
Net income attributable to Vantiv, Inc.									$ 213,208	$ 190,340	$ 149,331
Shares used in computing diluted net income per share:
Diluted net income per share (in dollars per share)	$ 0.29	$ 0.41	$ 0.38	$ 0.25	$ 0.31	$ 0.27	$ 0.24	$ 0.13
Class A Common Stock
Shares used in computing diluted net income per share:
Weighted-average Class A common shares outstanding, basic, (in shares)									156,043,636	145,044,577	141,936,933
Weighted-average Class B units of Vantiv Holding dilutive effect (in shares)									0	42,521,087	45,472,332
Warrant dilutive effect (in shares)									4,959,501	11,866,595	10,121,483
Total diluted weighted-average shares outstanding (in shares)									162,115,549	200,934,442	199,170,813
Diluted net income per share (in dollars per share)									$ 1.32	$ 0.95	$ 0.75
Class A Common Stock \| 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									531,165	545,180	318,175
Class A Common Stock \| Stock Compensation Plan
Shares used in computing diluted net income per share:
Class A common stock equivalents included in the computation of diluted net income per share									510,694	696,273	1,321,890
Class A Common Stock \| Performance Shares
Shares used in computing diluted net income per share:
Class A common stock equivalents included in the computation of diluted net income per share									70,553	260,730	0

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Net activity

$ (4,053)

$ 8,209

$ 6,172

AOCI beginning balance, net of tax

(9,204)

AOCI ending balance, net of tax

(6,197)

(9,204)

Balance, net

1,607,289

1,225,066

1,300,586

$ 1,176,322

Accumulated Net Gain (Loss) from Cash Flow Hedges

AOCI beginning balance, net of tax

(14,336)

(5,288)

(5)

AOCI ending balance, net of tax

(17,819)

(14,336)

(5,288)

Accumulated Foreign Currency Adjustment Attributable to Parent

AOCI beginning balance, net of tax

(212)

AOCI ending balance, net of tax

(212)

AOCI Including Portion Attributable to Noncontrolling Interest

Net change in fair value recorded in accumulated OCI, before reclassifications, before tax

(6,858)

(18,836)

(11,240)

Net realized loss reclassified into earnings, before tax

^[1]

(12,735)

(6,990)

(3,040)

Other, before tax

212

(212)

Pretax activity

5,877

(11,634)

(8,412)

Net change in fair value recorded in accumulated OCI, before reclassifications, tax

2,106

5,490

3,114

Net realized loss reclassified into earnings, tax

^[1]

(3,930)

(2,065)

(874)

Other, tax

Tax effect

(1,824)

3,425

2,240

Other comprehensive loss, unrealized gain (loss), net of tax

4,752

13,346

8,126

Net realized loss reclassified into earnings, net of tax

^[1]

(8,805)

(4,925)

(2,166)

other, net of tax

(212)

212

Net activity

(4,053)

8,209

6,172

Non-Controlling Interests

Other comprehensive loss, unrealized gain (loss), net of tax

1,269

4,298

2,843

Net realized loss reclassified into earnings, net of tax

^[1]

(2,315)

(1,525)

(703)

other, net of tax

Net activity

(1,046)

2,773

2,140

Balance, net

291,624

272,278

397,573

408,391

AOCI Attributable to Parent

Other comprehensive loss, unrealized gain (loss), net of tax

3,483

9,048

5,283

Net realized loss reclassified into earnings, net of tax

^[1]

(6,490)

(3,400)

(1,463)

other, net of tax

(212)

212

Net activity

(3,007)

5,436

4,032

Balance, net

(6,197)

(9,204)

(3,768)

$ 264

Reclassification out of Accumulated Other Comprehensive Income

AOCI beginning balance, net of tax

^[1]

5,132

1,732

269

AOCI ending balance, net of tax

^[1]

$ 11,622

$ 5,132

$ 1,732

[1]

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 incomePretax activity(1) Interest expense-netTax effect Income tax expenseOCI attributable to non-controlling interests Net income attributable to non-controlling interests (1) The years ended December 31, 2016, 2015 and 2014, reflect amounts of losses reclassified from AOCI into earnings, representing the effective portion of the hedging relationships, and are recorded in interest expense-net.

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Vantiv Holding
Related Party Transaction
Common stock, shares outstanding (in shares)	196,177,657	190,531,152	188,497,834
Fifth Third
Related Party Transaction
Interest expense associated with related party debt	$ 4.2	$ 4.4	$ 5.4
Commitment fees associated with related party debt	0.1	0.2	0.2
Deposits held at Fifth Third	90.5	149.7
Interest income on deposit held with Fifth Third			1.7
Fifth Third \| Rent Expense
Related Party Transaction
Cost of services received from Fifth Third	3.7	3.8	3.8
Fifth Third \| Referral Cost
Related Party Transaction
Cost of services received from Fifth Third	0.7	0.3	0.3
Fifth Third \| Clearing Settlement and Sponsorship Cost and Treasury Management Cost
Related Party Transaction
Cost of services received from Fifth Third	2.9	2.3	2.8
Fifth Third \| Other Services Cost
Related Party Transaction
Cost of services received from Fifth Third	$ 0.3	$ 0.4	$ 0.5
Class B Unit of Vantiv Holding \| Fifth Third \| Vantiv Holding
Related Party Transaction
Common stock, shares outstanding (in shares)	35,042,826	35,042,826	43,042,826
Ownership percentage by Fifth Third	17.86%	18.39%	22.83%
Class B Common Stock
Related Party Transaction
Common stock, shares outstanding (in shares)	35,042,826	35,042,826	43,000,000
Class B Common Stock \| Fifth Third
Related Party Transaction
Common stock, shares outstanding (in shares)	35,042,826
Fifth Third voting power as percentage of total voting power	17.90%

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Result of operation for each segment
Total revenue	$ 955,132	$ 914,019	$ 891,217	$ 818,623	$ 852,334	$ 815,998	$ 785,995	$ 705,611	$ 3,578,991	$ 3,159,938	$ 2,577,203
Network fees and other costs	452,720	423,361	410,736	387,413	399,159	385,548	362,349	331,146	1,674,230	1,478,202	1,174,665
Sales and marketing	$ 148,521	$ 153,248	$ 144,844	$ 135,638	$ 132,488	$ 132,481	$ 122,925	$ 116,055	582,251	503,949	396,353
Segment profit									1,322,510	1,177,787	1,006,185
Operating Segments \| Merchant Services
Result of operation for each segment
Total revenue									3,082,951	2,656,906	2,100,367
Network fees and other costs									1,537,072	1,321,312	1,033,801
Sales and marketing									557,942	478,736	367,998
Segment profit									987,937	856,858	698,568
Operating Segments \| Financial Institution Services
Result of operation for each segment
Total revenue									496,040	503,032	476,836
Network fees and other costs									137,158	156,890	140,864
Sales and marketing									24,309	25,213	28,355
Segment profit									$ 334,573	$ 320,929	$ 307,617

SEGMENT INFORMATION (Details 2) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
SEGMENT INFORMATION (Details 2) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of total segment profit to the company's (loss) income before applicable income taxes
Total segment profit									$ 1,322,510	$ 1,177,787	$ 1,006,185
Less: Other operating costs	$ (74,771)	$ (72,162)	$ (73,599)	$ (73,703)	$ (72,213)	$ (66,563)	$ (76,551)	$ (68,739)	(294,235)	(284,066)	(242,439)
Less: General and administrative	(55,876)	(40,727)	(49,120)	(43,984)	(45,974)	(41,492)	(47,060)	(47,843)	(189,707)	(182,369)	(173,986)
Less: Depreciation and amortization	$ (70,504)	$ (66,086)	$ (65,234)	$ (68,230)	$ (70,843)	$ (70,638)	$ (67,659)	$ (67,802)	(270,054)	(276,942)	(275,069)
Less: Interest expense—net									(109,534)	(105,736)	(79,701)
Less: Non-operating income (expense)									(36,256)	(31,268)	177
Income before applicable income taxes									$ 422,724	$ 297,406	$ 235,167

QUARTERLY CONSOLIDATED RESULTS OF OPERATIONS (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 955,132	$ 914,019	$ 891,217	$ 818,623	$ 852,334	$ 815,998	$ 785,995	$ 705,611	$ 3,578,991	$ 3,159,938	$ 2,577,203
Network fees and other costs	452,720	423,361	410,736	387,413	399,159	385,548	362,349	331,146	1,674,230	1,478,202	1,174,665
Net revenue	502,412	490,658	480,481	431,210	453,175	430,450	423,646	374,465
Sales and marketing	148,521	153,248	144,844	135,638	132,488	132,481	122,925	116,055	582,251	503,949	396,353
Other operating costs	74,771	72,162	73,599	73,703	72,213	66,563	76,551	68,739	294,235	284,066	242,439
General and administrative	55,876	40,727	49,120	43,984	45,974	41,492	47,060	47,843	189,707	182,369	173,986
Depreciation and amortization	70,504	66,086	65,234	68,230	70,843	70,638	67,659	67,802	270,054	276,942	275,069
Income from operations	152,740	158,435	147,684	109,655	131,657	119,276	109,451	74,026	568,514	434,410	314,691
Net income	62,958	87,004	78,461	52,448	70,392	59,148	52,693	26,996	280,871	209,229	168,990
Net income (loss) attributable to Vantiv, Inc.	$ 47,847	$ 66,296	$ 59,327	$ 39,738	$ 50,929	$ 41,492	$ 36,536	$ 18,989	$ 213,208	$ 147,946	$ 125,292
Net income per share attributable to Vantiv, Inc. Class A common stock:
Basic (in dollars per share)	$ 0.30	$ 0.43	$ 0.38	$ 0.26	$ 0.35	$ 0.29	$ 0.25	$ 0.13
Diluted (in dollars per share)	$ 0.29	$ 0.41	$ 0.38	$ 0.25	$ 0.31	$ 0.27	$ 0.24	$ 0.13

CONDENSED FINANCIAL INFORMATION OF REGISTRANT Condensed Consolidated Statement of Income (Parent Company Only) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Income Statements, Captions
General and administrative	$ 55,876	$ 40,727	$ 49,120	$ 43,984	$ 45,974	$ 41,492	$ 47,060	$ 47,843	$ 189,707	$ 182,369	$ 173,986
Income (loss) from operations	152,740	158,435	147,684	109,655	131,657	119,276	109,451	74,026	568,514	434,410	314,691
Non-operating income (expense)									(36,256)	(31,268)	177
Income before applicable income taxes									422,724	297,406	235,167
Income tax expense									141,853	88,177	66,177
Loss before equity in net income of subsidiaries	62,958	87,004	78,461	52,448	70,392	59,148	52,693	26,996	280,871	209,229	168,990
Net income attributable to Vantiv, Inc.	$ 47,847	$ 66,296	$ 59,327	$ 39,738	$ 50,929	$ 41,492	$ 36,536	$ 18,989	213,208	147,946	125,292
Vantiv, Inc.
Condensed Income Statements, Captions
General and administrative									366	745	181
Income (loss) from operations									(366)	(745)	(181)
Non-operating income (expense)									(58)	(359)	40,399
Income before applicable income taxes									(424)	(1,104)	40,218
Income tax expense									80,635	54,007	47,943
Loss before equity in net income of subsidiaries									(81,059)	(55,111)	(7,725)
Equity in net income of subsidiaries									294,267	203,057	133,017
Net income attributable to Vantiv, Inc.									$ 213,208	$ 147,946	$ 125,292

CONDENSED FINANCIAL INFORMATION OF REGISTRANT Condensed Consolidated Statements of Comprehensive Income (Parent Company Only) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Statements, Captions
Net income attributable to Vantiv, Inc.	$ 47,847	$ 66,296	$ 59,327	$ 39,738	$ 50,929	$ 41,492	$ 36,536	$ 18,989	$ 213,208	$ 147,946	$ 125,292
Gain (loss) on cash flow hedges and other									4,053	(8,209)	(6,172)
Comprehensive income attributable to Vantiv, Inc.									216,215	142,510	121,260
Vantiv, Inc.
Condensed Financial Statements, Captions
Net income attributable to Vantiv, Inc.									213,208	147,946	125,292
Gain (loss) on cash flow hedges and other									3,007	(5,436)	(4,032)
Comprehensive income attributable to Vantiv, Inc.									$ 216,215	$ 142,510	$ 121,260

CONDENSED FINANCIAL INFORMATION OF REGISTRANT Condensed Consolidated Statements of Financial Position (Parent Company Only) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Total current assets	$ 1,287,858	$ 1,117,499
Deferred taxes	771,139	731,622
Total assets	7,044,007	6,465,426
Current liabilities:
Accounts payable and accrued expenses	471,979	364,878
Related party payable	3,623	4,698
Current portion of tax receivable agreement obligations to related parties	191,014	31,232
Total current liabilities	1,689,012	1,295,379
Long-term liabilities:
Tax receivable agreement obligations to related parties	451,318	801,829
Total long-term liabilities	3,747,706	3,944,981
Total liabilities	5,436,718	5,240,360
Equity:
Total Vantiv, Inc. equity	1,315,665	952,788
Total liabilities and equity	7,044,007	6,465,426
Vantiv, Inc.
Current assets:
Taxes refund receivable	1,452	51,998
Total current assets	1,452	51,998
Investment in subsidiaries	1,260,427	1,008,907
Deferred taxes	769,365	731,258
Total assets	2,031,244	1,792,163
Current liabilities:
Accounts payable and accrued expenses	2,548	795
Related party payable	70,699	5,519
Current portion of tax receivable agreement obligations to related parties	191,014	31,232
Total current liabilities	264,261	37,546
Long-term liabilities:
Tax receivable agreement obligations to related parties	451,318	801,829
Total long-term liabilities	451,318	801,829
Total liabilities	715,579	839,375
Equity:
Total Vantiv, Inc. equity	1,315,665	952,788
Total liabilities and equity	$ 2,031,244	$ 1,792,163

CONDENSED FINANCIAL INFORMATION OF REGISTRANT Condensed Consolidated Statements of Cash Flows (Parent Company Only) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Activities:
Net income attributable to Vantiv, Inc.	$ 47,847	$ 66,296	$ 59,327	$ 39,738	$ 50,929	$ 41,492	$ 36,536	$ 18,989	$ 213,208	$ 147,946	$ 125,292
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Deferred taxes									79,668	55,280	32,469
Tax receivable agreements non-cash items									19,527	28,171	(25,838)
Excess tax benefit from share-based compensation									(12,167)	(16,707)	(13,420)
Net cash provided by operating activities									668,590	757,878	592,905
Investing Activities:
Net cash used in investing activities									(570,121)	(126,727)	(1,798,956)
Financing Activities:
Advances from subsidiaries, net									(12)	0	0
Repurchase of Class A common stock									(81,369)	(200,406)	(59,364)
Repurchase of Class A common stock (to satisfy tax withholding obligations)									(6,248)	(16,527)	(17,801)
Settlement of certain tax receivable agreements									(159,274)	(94,022)	0
Payments under tax receivable agreements									(53,474)	(22,805)	(8,639)
Excess tax benefit from share-based compensation									12,167	16,707	13,420
Net cash (used in) provided by financing activities									(156,417)	(845,623)	1,446,192
Net (decrease) increase in cash and cash equivalents									(57,948)	(214,472)	240,141
Cash and cash equivalents—Beginning of period				197,096				411,568	197,096	411,568	171,427
Cash and cash equivalents—End of period	139,148				197,096				139,148	197,096	411,568
Cash Payments:
Taxes									51,140	6,565	35,157
Non-cash Items:
Issuance of tax receivable agreements to related parties									171,162	376,597	109,400
Vantiv, Inc.
Operating Activities:
Net income attributable to Vantiv, Inc.									213,208	147,946	125,292
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in net income of subsidiaries									(294,267)	(203,057)	(133,017)
Deferred taxes									54,540	24,662	27,395
Tax receivable agreements non-cash items									53	(769)	(40,399)
Distributions from subsidiaries									84,844	68,892	58,551
Excess tax benefit from share-based compensation									(12,167)	(16,707)	(13,420)
Change in operating assets and liabilities, net									20,030	28,834	(9,151)
Net cash provided by operating activities									66,241	49,801	15,251
Investing Activities:
Proceeds from sale of Class A units in Vantiv Holding									87,617	216,933	77,165
Purchase of Class A units in Vantiv Holding									(15,389)	(13,630)	(4,492)
Net cash used in investing activities									72,228	203,303	72,673
Financing Activities:
Advances from subsidiaries, net									70,699	5,519	(20,032)
Proceeds from issuance of Class A common stock under employee stock plans									15,389	13,630	4,492
Repurchase of Class A common stock									(81,369)	(200,406)	(59,364)
Repurchase of Class A common stock (to satisfy tax withholding obligations)									(6,248)	(16,527)	(17,801)
Settlement of certain tax receivable agreements									(117,874)	(49,222)	0
Payments under tax receivable agreements									(31,233)	(22,805)	(8,639)
Excess tax benefit from share-based compensation									12,167	16,707	13,420
Net cash (used in) provided by financing activities									(138,469)	(253,104)	(87,924)
Net (decrease) increase in cash and cash equivalents									0	0	0
Cash and cash equivalents—Beginning of period				$ 0				$ 0	0	0	0
Cash and cash equivalents—End of period	$ 0				$ 0				0	0	0
Cash Payments:
Taxes									6,843	2,323	28,583
Non-cash Items:
Issuance of tax receivable agreements to related parties									$ 171,162	$ 376,597	$ 109,400