N- I/A Table of Contents FIRST DATA CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) The Company held the following derivative instruments as of the dates indicated: As of June 30, 2015 As or December 31, 2014 Notional Notional Assets Liabilities Notional Assets Liabilities (in millions) Currency Value (a) (h) (a) (c) Value (a) (b) (a) (c) Derivatives designated as hedges of net investments in foreign operations: Foreign exchange contracts Alll) 260 $ 54 $ - 260 $ 41 $ — Foreign exchange contracts FUR 200 45 - 200 27 — Foreign exchange contracts GBP 250 15 - 250 18 — Foreign exchange contracts CAD 110 16 — 110 9 - 130 95 Derivatives not designated as hedging instruments: Interest rate contracts USD 5.0(X) (95) 5.750 47 (105) Foreign exchange contracts ELM 22 1 (WI) 48 (105) $ tirl $ (95) 143 $ (105) (a) Of the balances included in the table above, in aggregate, $130 million of assets and $87 million of liabilities, net $43 million, as of June 30, 2015 and $142 million of assets and $96 million of liabilities, net $46 million, as of December 31, 2014 are subject to master netting agreements to the extent that the swaps are with the same counterpart)•. The terms of those agreements require that the Company net settle the outstanding positions at the option of the counterparty upon certain events of default. (b) Derivative assets are included in "Other current assets" and "Other long-term assets" in the unaudited consolidated balance sheets. (c) Derivative liabilities are included in "Other current liabilities" and "Other long-term liabilities" in the unaudited consolidated balance sheets. The maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for forecasted transactions excluding those forecasted transactions related to the payment of variable interest on existing financial instruments is through January•