MoneyGram 2009 Annual Report Download - page 120

Table of Contents
MONEYGRAM INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Following is a summary of pertinent information related to the Company's stock-based awards:
(Amounts in thousands) 2009 2008 2007
Expense recognized related to options $ 14,459 $ 3,274 $ 3,852
Expense recognized related to restricted stock (307) 417 2,247
Intrinsic value of options exercised — — 3,582
Cash received from option exercises — — 6,606
Tax benefit realized for tax deductions from option exercises — — 1,068
(Amounts in thousands) Options Restricted Stock
Unrecognized compensation expense $ 42,749 $ 8
Remaining weighted-average vesting period 1.5 years 0.1 years
Note 15 — Income Taxes
The components of loss from continuing operations before income taxes are as follows for the year ended December 31:
(Amounts in thousands) 2009 2008 2007
United States $ (19,975) $ (345,063) $ (993,273)
Foreign (2,347) 7,872 6
Loss from continuing operations before income taxes $ (22,322) $ (337,191) $ (993,267)
International income consists of statutory income and losses from the Company's international subsidiaries. Most of the Company's
wholly owned subsidiaries recognize revenue based solely on services agreements with MPSI. Income tax (benefit) expense related to
continuing operations is as follows for the year ended December 31:
(Amounts in thousands) 2009 2008 2007
Current:
Federal $ (8,172) $ (55,980) $ 35,445
State 669 (8,064) 3,999
Foreign 2,002 (13,938) 1,400
Current income tax (benefit) expense (5,501) (77,982) 40,844
Deferred income tax (benefit) expense (14,915) 2,176 37,637
Income tax (benefit) expense $ (20,416) $ (75,806) $ 78,481
As of December 31, 2009 and 2008, the Company had a net income tax receivable of $1.3 million and $35.9 million, respectively,
recorded in the "Other assets" line in the Consolidated Balance Sheets. The Company received a $43.5 million federal income tax refund
in 2009 and a $24.7 million federal income tax refund in 2008. Income tax expense totaling $1.9 million in 2007 is included in "Loss
from discontinued operations, net of tax" in the Consolidated Statements of Loss. Federal and state taxes paid were $2.2 million,
$1.7 million and $16.0 million for
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