Western Union 2006 Annual Report Download - page 65

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63
|| Consolidated Statements of Income
Year Ended December 31,
(in millions, except per share amounts) 2006 2005 2004
REVENUES:
Transaction fees $3,696.6 $3,354.8 $3,006.1
Foreign exchange revenue 653.9 531.0 449.6
Commission and other revenues 119.7 102.1 91.9
Total revenues 4,470.2 3,987.9 3,547.6
EXPENSES:
Cost of services 2,430.5 2,118.9 1,859.4
Selling, general and administrative 728.3 599.8 576.1
Total expenses* 3,158.8 2,718.7 2,435.5
Operating income 1,311.4 1,269.2 1,112.1
OTHER INCOME/(EXPENSE):
Interest income 40.1 7.6 1.8
Interest expense (53.4) (1.7) (1.7)
Derivative (losses)/gains, net (21.2) 45.8 (30.2)
Foreign exchange effect on notes receivable from First Data, net 10.1 (5.9) 7.5
Interest income from First Data, net 35.7 24.3 9.1
Other income, net 12.4 4.8 —
Total other income/(expense), net 23.7 74.9 (13.5)
Income before income taxes 1,335.1 1,344.1 1,098.6
Provision for income taxes 421.1 416.7 347.0
Net income $ 914.0 $ 927.4 $ 751.6
Earnings per share:
Basic $ 1.20 $ 1.21 $ 0.98
Diluted $ 1.19 $ 1.21 $ 0.98
Weighted-average shares outstanding:
Basic 764.5 763.9 763.9
Diluted 768.6 763.9 763.9
* As further described in Note 4, total expenses include amounts paid to related parties of $364.6 million, $344.0 million, and $263.4 million for the years ended December 31, 2006,
2005 and 2004, respectively.
See Notes to Consolidated Financial Statements.
Consolidated Financial Statements