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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:
(Amounts in thousands) 2006 2005 2004
Revenue
Global Funds Transfer:
Money transfer, including bill payment $ 669,852 $ 507,726 $ 395,370
Retail money order 151,894 141,891 136,694
821,746 649,617 532,064
Payment Systems:
Official check and outsourcing services 306,760 297,289 269,971
Other 30,337 24,330 24,495
337,097 321,619 294,466
Other 716 — —
Total revenue $ 1,159,559 $ 971,236 $ 826,530
Operating Income
Global Funds Transfer $ 152,579 $ 121,677 $ 102,606
Payment Systems 41,619 42,406 27,163
194,198 164,083 129,769
Debt tender and redemption costs — — 20,661
Interest expense 7,928 7,608 5,573
Other unallocated expenses 9,497 10,099 14,515
Income from continuing operations before income taxes $ 176,773 $ 146,376 $ 89,020
Depreciation and amortization
Global Funds Transfer $ 34,603 $ 28,395 $ 25,856
Payment Systems 4,375 4,070 3,711
$ 38,978 $ 32,465 $ 29,567
Capital expenditures
Global Funds Transfer $ 71,181 $ 40,837 $ 27,712
Payment Systems 9,852 6,522 1,877
$ 81,033 $ 47,359 $ 29,589
The following table reconciles segment assets to total assets reported in the financial statements as of December 31:
(Amounts in thousands) 2006 2005
Assets
Global funds transfer $ 3,091,519 $ 2,909,246
Payment systems 6,168,134 6,252,528
Corporate 16,484 13,390
Total assets $ 9,276,137 $ 9,175,164
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
F-42