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WESTERN UNION
2008 Annual Report
4646
Consolidated Balance Sheets
December 31,
(in millions, except per share amounts) 2008 2007
ASSETS
Cash and cash equivalents $1,295.6 $1,793.1
Settlement assets 1,207.5 1,319.2
Property and equipment, net of accumulated depreciation of $284.0 and $251.5, respectively 192.3 200.3
Goodwill 1,674.2 1,639.5
Other intangible assets, net of accumulated amortization of $276.5 and $236.8, respectively 350.6 334.1
Other assets 858.1 498.0
Total assets $5,578.3 $5,784.2
LIABILITIES AND STOCKHOLDERS’ (DEFICIENCY)/EQUITY
Liabilities:
Accounts payable and accrued liabilities $ 385.7 $ 350.1
Settlement obligations 1,207.5 1,319.2
Income taxes payable 381.6 279.7
Deferred tax liability, net 270.1 263.6
Borrowings 3,143.5 3,338.0
Other liabilities 198.0 182.9
Total liabilities 5,586.4 5,733.5
Commitments and contingencies (Note 6)
Stockholders’ (Deficiency)/Equity:
Preferred stock, $1.00 par value; 10 shares authorized; no shares issued — —
Common stock, $0.01 par value; 2,000 shares authorized and 709.6 and 749.8 shares issued
and outstanding at December31, 2008 and 2007, respectively 7.1 7.5
Capital deficiency (14.4) (341.1)
Retained earnings 29.2 453.1
Accumulated other comprehensive loss (30.0) (68.8)
Total stockholders’ (deficiency)/equity (8.1) 50.7
Total liabilities and stockholders’ (deficiency)/equity $5,578.3 $5,784.2
See Notes to Consolidated Financial Statements.