Western Union 2009 Annual Report Download - page 139

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18. Quarterly Financial Information (Unaudited)
Summarized quarterly results for the years ended December 31, 2009 and 2008 were as follows (in
millions):
2009 by Quarter: Q1 Q2 Q3 Q4
Year Ended
December 31,
2009
Revenues ................................. $1,201.2 $1,254.3 $1,314.1 $1,314.0 $5,083.6
Expenses (a) .............................. 860.3 912.6 1,032.6 995.4 3,800.9
Other expense, net .......................... 35.7 46.0 35.0 34.5 151.2
Income before income taxes ................... 305.2 295.7 246.5 284.1 1,131.5
Provision for income taxes .................... 81.3 75.5 65.5 60.4 282.7
Net income ............................... $ 223.9 $ 220.2 $ 181.0 $ 223.7 $ 848.8
Earnings per share:
Basic ................................ $ 0.32 $ 0.31 $ 0.26 $ 0.32 $ 1.21
Diluted ............................... $ 0.32 $ 0.31 $ 0.26 $ 0.32 $ 1.21
Weighted-average shares outstanding:
Basic ................................ 707.1 700.6 698.4 689.8 698.9
Diluted ............................... 708.0 702.7 701.6 693.2 701.0
(a) Includes $71.0 million in the third quarter for an anticipated agreement and settlement with the State of
Arizona. See Note 6 “Commitments and Contingencies” for more information.
2008 by Quarter: Q1 Q2 Q3 Q4
Year Ended
December 31,
2008
Revenues ................................. $1,265.9 $1,347.1 $1,377.4 $1,291.6 $5,282.0
Expenses (b) .............................. 956.6 1,010.9 1,002.2 957.3 3,927.0
Other expense, net .......................... 16.8 28.2 42.2 29.1 116.3
Income before income taxes ................... 292.5 308.0 333.0 305.2 1,238.7
Provision for income taxes .................... 85.4 76.5 92.2 65.6 319.7
Net income ............................... $ 207.1 $ 231.5 $ 240.8 $ 239.6 $ 919.0
Earnings per share: .........................
Basic ................................ $ 0.28 $ 0.31 $ 0.33 $ 0.34 $ 1.26
Diluted ............................... $ 0.27 $ 0.31 $ 0.33 $ 0.34 $ 1.24
Weighted-average shares outstanding: ............
Basic ................................ 746.7 736.5 724.9 712.5 730.1
Diluted ............................... 756.8 747.5 737.2 713.8 738.2
(b) Includes $24.2 million in the first quarter, $22.9 million in the second quarter, $3.2 million in the third
quarter and $32.6 million in the fourth quarter of restructuring and related expenses. For more
information, see Note 4, “Restructuring and Related Expenses.”
125
THE WESTERN UNION COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)