MoneyGram 2004 Annual Report Download - page 84

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Table of Contents
MONEYGRAM INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following table reconciles segment operating income to the income from continuing operations before income taxes as reported in the financial statements
for the year ended December 31:
2004 2003 2002
(Dollars in thousands)
Revenue
Global Funds Transfer: 532,064 450,108 412,953
Payment Systems 294,466 287,115 294,737
Total revenue $ 826,530 $ 737,223 $ 707,690
Operating Income
Global Funds Transfer $ 102,606 $ 96,823 $ 93,909
Payment Systems 27,163 15,123 21,658
Total operating income 129,769 111,946 115,567
Debt tender and redemption costs 20,661 — —
Interest expense 5,573 9,857 15,212
Other unallocated expenses 14,515 13,918 13,668
Income from continuing operations before income taxes $ 89,020 $ 88,171 $ 86,687
Depreciation and amortization
Global Funds Transfer $ 25,856 $ 24,255 $ 23,481
Payment Systems 3,711 3,040 2,413
Total depreciation and amortization $ 29,567 $ 27,295 $ 25,894
Capital expenditures
Global Funds Transfer $ 27,712 $ 25,891 $ 23,655
Payment Systems 1,877 1,237 3,187
Total capital expenditures $ 29,589 $ 27,128 $ 26,842
The following table reconciles segment assets to total assets reported in the financial statements as of December 31:
2004 2003
(Dollars in thousands)
Assets
Global funds transfer $ 2,436,961 $ 2,700,500
Payment systems 6,191,802 6,112,957
Corporate 1,972 408,697
Total assets $ 8,630,735 $ 9,222,154
Geographic areas — Foreign operations are located principally in Europe. Foreign revenues are defined as revenues generated from money transfer
transactions originating in a country other than the United States. Long lived assets are principally located in the United States.
F-40