MoneyGram 2007 Annual Report Download - page 111

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Table of Contents
MONEYGRAM INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Company has remaining authorization to repurchase up to 5,205,000 shares. Following is a summary of treasury stock share activity
during the twelve months ended December 31, 2007 and 2006:
(Amounts in thousands) Treasury Stock Shares
Balance at December 31, 2005 2,701
Stock repurchases 2,195
Submission of shares for withholding taxes upon exercise of stock options and release of restricted stock, net of
issuances and forfeitures (610)
Balance at December 31, 2006 4,286
Stock repurchases 1,620
Issuance of stock for exercise of stock options (85)
Submission of shares for withholding taxes upon exercise of stock options and release of restricted stock, net of
issuances and forfeitures 90
Balance at December 31, 2007 5,911
Accumulated Other Comprehensive Loss — The components of "Accumulated other comprehensive loss" at December 31 include:
(Amounts in thousands) 2007 2006
Unrealized gain on securities classified as available-for-sale $ 26,418 $ 24,607
Unrealized (loss) gain on derivative financial instruments (19,345) 11,345
Cumulative foreign currency translation adjustments 2,329 6,011
Prior service cost for pension and postretirement benefits, net of tax (603) (1,115)
Unrealized losses on pension and postretirement benefits, net of tax (30,514) (47,140)
Accumulated other comprehensive loss $ (21,715) $ (6,292)
Note 12 — Pensions and Other Benefits
Pension Benefits — Prior to the Distribution, MoneyGram was a participating employer in the Viad Corp Retirement Income Plan (the
"Pension Plan") of which the plan sponsor was Viad. At the time of the Distribution, the Company assumed sponsorship of the Pension
Plan, which is a noncontributory defined benefit pension plan covering all employees who meet certain age and length-of-service
requirements. Viad retained the pension liability for a portion of the employees in its Exhibitgroup/Giltspur subsidiary and one sold
business, which represented eight percent of Viad's benefit obligation at December 31, 2003. Effective December 31, 2003, benefits
under the pension plan ceased accruing service or compensation credits with no change in benefits earned through this date. Cash
accumulation accounts should continue to be credited with interest credits until participants withdraw their money from the Pension Plan.
It is our policy to fund the minimum required contribution for the year.
Supplemental Executive Retirement Plans (SERPs) — In connection with the spin-off, the Company assumed responsibility for all but a
portion of the Viad SERP. Viad retained the benefit obligation related to two of its subsidiaries, which represented 13 percent of Viad's
benefit obligation at December 31, 2003. Another SERP, the MoneyGram International, Inc. SERP, is a nonqualified defined benefit
pension plan, which provides postretirement income to eligible employees selected by the Board of Directors. It is our policy to fund the
SERPs as benefits are paid.
F-37