MoneyGram 2011 Annual Report Download - page 137

Table of Contents MONEYGRAM INTERNATIONAL, INC.
CONDENSED, CONSOLIDATING STATEMENTS OF INCOME (LOSS)
FOR THE YEAR ENDED DECEMBER 31, 2011
Subsidiary Non−
(Amounts in thousands) Parent Guarantors Guarantors Eliminations Consolidated
REVENUE
Fee and other revenue $ — $1,203,416 $ 288,498 $ (261,056) $ 1,230,858
Investment revenue — 16,368 543 — 16,911
Total revenue — 1,219,784 289,041 (261,056) 1,247,769
EXPENSES
Fee and other commissions expense — 576,447 148,388 (177,262) 547,573
Investment commissions expense — 431 — — 431
Total commissions expense — 576,878 148,388 (177,262) 548,004
Compensation and benefits (16) 173,624 62,088 — 235,696
Transaction and operations support 6,137 258,005 47,414 (83,794) 227,762
Occupancy, equipment and supplies — 36,061 11,678 — 47,739
Depreciation and amortization — 34,545 11,506 — 46,051
Total operating expenses 6,121 1,079,113 281,074 (261,056) 1,105,252
OPERATING (LOSS) INCOME (6,121) 140,671 7,967 — 142,517
Other expense
Net securities gains — (32,816) — — (32,816)
Interest expense — 86,165 — — 86,165
Debt extinguishment costs — 37,522 — — 37,522
Other 6,442 5,091 343 — 11,876
Total other expenses, net 6,442 95,962 343 — 102,747
(Loss) income before income taxes (12,563) 44,709 7,624 — 39,770
Income tax (benefit) expense (4,397) (18,386) 3,147 — (19,636)
(Loss) income after income taxes (8,166) 63,095 4,477 — 59,406
Equity income (loss) in subsidiaries 67,572 4,477 — (72,049) —
NET INCOME (LOSS) $ 59,406 $ 67,572 $ 4,477 $ (72,049) $ 59,406
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