David J. Koning
Okay. That’s great and then I guess just the follow up then. International EBIT, $83 – $84 million this quarter, is that generally sustainable or I know there’s a little bit of seasonality to that that comes down off in the back half, but is that largely sustainable given all the, you know the things that are going on?
Cameron M. Bready
Well, I, you’re right, Dave — its Cameron — and that Ezidebit is included in there but only for a partial quarter so I would caution you to bear that in mind as you think about the going run rate.
The only other thing I would comment on is FX. Obviously, the performance in the quarter was good despite the FX headwinds but we are forecasting incremental headwinds for the balance of the year as well, so, I think by and large, it’s generally going to be a good number going forward after you normalize for a full quarter of Ezidebit but you’ll have to take into consideration FX as well.
David J. Koning
Got you, great. Thanks! Great job!
Jeffrey S. Sloan
Thanks Dave.
Cameron M. Bready
Thanks Dave.
Operator
Thank you. Our next question is from Ashwin Shirvaikar of Citibank. You may begin.
Ashwin Shirvaikar, Director / Senior Analyst, Citigroup
Thank you. Good morning Jeff. Good morning Cameron.
Jeffrey S. Sloan
Good morning.
Cameron M. Bready
Good morning.
Ashwin Shirvaikar
Congratulations on the quarter. Happy New Year. I guess a couple of questions. One is I wanted to — I may have missed this with regards to the full impact of the FX headwind, what are you overcoming in dollar terms for the year?
Cameron M. Bready
For the year, Ashwin, we have not provided a specific estimate as to how much of the FX headwind is impacting our numbers. What we can tell you is, obviously when we provided our guidance back in October, we thought that FX was going to be a more meaningful headwind than we did at the beginning of the year. As we sit here today, we expect it to be in an even an increased headwind relative to where we were three months ago with the expectations for the full year as well. So I can tell you sitting here today, we’ve been able to overcome a fairly meaningful amount of FX headwind on a both revenue operating income and cash earnings per share basis but haven’t given a specific estimate as just how much is embedded in the numbers.
Ashwin Shirvaikar
Okay and Ezidebit seems to be tracking to the you know $25 million full year revenue impact that you had guided to earlier. I want to ask also about the Philippines impact with regards to full year, how much is that going to be? And then if I could sneak in an extra question. Oil prices are going down. Are you actually seeing consumer spending rising on the back of that consumer transactions?
Cameron M. Bready
I’ll start with the first two, Ashwin, and I’ll maybe ask Jeff to chime in on the third. Certainly on Ezi, that remains our expectation for the full year. As we noted in our prepared remarks, the company is performing in line with our expectations thus far and the outlook would suggest that they’re going to be on target for the full year expectations as well. I will note, the Australian dollar is a little weaker, but again we still feel the business is going to perform in line with our expectations for the year. On the Philippines, there is nothing in our guidance currently reflected for the Philippines joint venture that we recently announced. Although, I would note at the time that we made that announcement we did indicate whatever impact there will be in FY ’15 will be relatively immaterial. And then lastly, I’ll ask Jeff to jump in on your question regarding consumer spending.
Jeffrey S. Sloan
Yeah I think you’re right in what you said, Ashwin on consumer spending. We, as you heard from us before, we generally view our business as a GDP plus growth type of business. A lot of that depends of course on consumer spending to the extent that oil prices either stay where they are or come down further, we view that as a positive to our business because it has the effect of a tax cut effectively for consumers. So we view that in general, it is really nothing but upside for the health of the consumers on whose businesses we depend for our financials.
Ashwin Shirvaikar
Okay, thanks. Congratulations, keep up the good work. Thank you.
Jeffrey S. Sloan
Thank you.
Cameron M. Bready
Thanks Ashwin.
