MoneyGram 2007 Annual Report Download - page 122

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Table of Contents
MONEYGRAM INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following table reconciles segment assets to total assets reported in the financial statements as of December 31:
(Amounts in thousands) 2007 2006 2005
Assets
Global Funds Transfer $ 2,423,090 $ 3,091,519 $ 2,909,246
Payment Systems 5,497,168 6,168,134 6,252,528
Corporate 14,753 16,484 13,390
Total assets $ 7,935,011 $ 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 principally located in the United
States. The table below presents revenue by major geographic area for the year ended December 31:
(Amounts in thousands) 2007 2006 2005
United States $ (142,766) $ 918,820 $ 789,410
Foreign 300,303 240,739 181,826
Total revenue $ 157,537 $ 1,159,559 $ 971,236
Note 17 — Quarterly Financial Data (Unaudited)
2007 Fiscal Quarters
(Amounts in thousands, except per share data) First Second Third Fourth
Revenues (losses) $ 310,051 $ 333,259 $ 341,581 $ (827,354)(1)
Commission expense 152,260 165,599 170,352 175,697
Net revenues (losses) 157,791 167,660 171,229 (1,003,051)
Operating expenses, excluding commission expense 113,700 119,780 121,970 131,446
Income (loss) from continuing operations before income taxes 44,091 47,880 49,259 (1,134,497)
Income (loss) from continuing operations 29,839 32,359 34,292 (1,168,238)
Loss from discontinued operations, net of taxes — — — (249)
Net income (loss) 29,839 32,359 34,292 (1,168,487)
Earnings (loss) from continuing operations per share
Basic $ 0.36 $ 0.39 $ 0.42 $ (14.18)
Diluted $ 0.35 $ 0.38 $ 0.41 $ (14.18)
Earnings from discontinued operations per share
Basic $ — $ — $ — $ —
Diluted $ — $ — $ — $ —
Earnings (loss) per share
Basic $ 0.36 $ 0.39 $ 0.42 $ (14.18)
Diluted $ 0.35 $ 0.38 $ 0.41 $ (14.18)
(1) Revenue in the fourth quarter of 2007 includes net securities losses of $1.2 billion, which relate to other-than-temporary
impairments in the Company's investment portfolio. This amount is also reflected in Net revenues and Loss from continuing
operations and Net loss.
F-48