MoneyGram 2010 Annual Report Download - page 149
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Table of Contents
MONEYGRAM INTERNATIONAL, INC.
CONDENSED, CONSOLIDATING STATEMENTS OF (LOSS) INCOME
FOR THE YEAR ENDED DECEMBER 31, 2008
Subsidiary Non-
(Amounts in thousands) Parent Guarantors Guarantors Eliminations Consolidated
REVENUE
Fee and other revenue $ — $ 1,101,379 $ 116,407 $ (109,335) $ 1,108,451
Investment revenue — 135,218 26,912 — 162,130
Total revenue — 1,236,597 143,319 (109,335) 1,270,581
EXPENSES
Fee and other commissions expense — 519,792 12,015 (29,490) 502,317
Investment commissions expense — 102,292 — — 102,292
Total commissions expense — 622,084 12,015 (29,490) 604,609
Compensation and benefits 17,688 170,525 36,367 — 224,580
Transaction and operations support 12,406 242,566 44,778 (79,845) 219,905
Occupancy, equipment and supplies — 39,599 6,395 — 45,994
Depreciation and amortization — 44,984 11,688 — 56,672
Total operating expenses 30,094 1,119,758 111,243 (109,335) 1,151,760
OPERATING (LOSS) INCOME (30,094) 116,839 32,076 — 118,821
Other expense (income)
Net securities (gains) losses — 246,719 93,969 — 340,688
Interest expense 6,478 88,542 — — 95,020
Other 16,030 4,274 — — 20,304
Total other expenses, net 22,508 339,535 93,969 — 456,012
(Loss) income before income taxes (52,602) (222,696) (61,893) — (337,191)
Income tax (benefit) expense (18,411) (58,580) 1,185 — (75,806)
(Loss) income after income taxes (34,191) (164,116) (63,078) — (261,385)
Equity (loss) income in subsidiaries (227,194) (63,078) — 290,272 —
NET (LOSS) INCOME $ (261,385) $ (227,194) $ (63,078) $ 290,272 $ (261,385)
F-64