Commitments and Contingencies Litigation In the normal course of business, the Company or its subsidiaries are named as defendants in lawsuits in which claims are asserted against the Company. In addition, the Company assumed certain legal proceedings in connection with the acquisition of First Data (see Note 4) primarily associated with its merchant business including claims related to alleged processing errors and a tax matter. In the second quarter of 2020, the Company resolved a matter with the Federal Trade Commission related to a U.S.-based wholesale independent sales organization resulting in a payment of $40 million , for which the Company previously had accrued. The Company maintained reserves of $30 million and $43 million at June 30, 2020 and December 31, 2019, respectively, related to its various legal proceedings, primarily associated with the Companys merchant business as described above. The Companys estimate of the possible range of exposure for various litigation matters in excess of amounts accrued is approximately $0 million to $60 million . In the opinion of management, the liabilities, if any, which may ultimately result from such lawsuits are not expected to have a material adverse effect on the Companys consolidated financial statements. Electronic Payments Transactions In connection with the Companys processing of electronic payments transactions, funds received from subscribers are invested from the time the Company collects the funds until payments are made to the applicable recipients. These subscriber funds are invested in short-term, highly liquid investments. Subscriber funds, which are not included in the Companys consolidated balance sheets, can fluctuate significantly based on consumer bill payment and debit card activity and totaled approximately $1.2 billion and $2.0 billion at June 30, 2020 and December 31, 2019 , respectively. Indemnifications and Warranties The Company may indemnify its clients from certain costs resulting from claims of patent, copyright or trademark infringement associated with its clients use of the Companys products or services. The Company may also warrant to clients that its products and services will operate substantially in accordance with identified specifications. From time to time, in connection with sales of businesses, the Company agrees to indemnify the buyers of such businesses for liabilities associated with the businesses that are sold. Payments, net of recoveries, under such indemnification or warranty provisions were not material to the Companys consolidated results of operations or financial position.