Western Union 2009 Annual Report Download - page 63

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split the revenue between the two regions, with each region receiving 50%. For money transfers initiated
and paid in the same region, 100% of the revenue is attributed to that region.
Consumer-to-Consumer Segment
The following table sets forth our consumer-to-consumer segment results of operations for the years
ended December 31, 2009, 2008 and 2007.
(dollars and transactions in millions) 2009 2008 2007
2009
vs. 2008
2008
vs. 2007
Years Ended December 31, % Change
Revenues:
Transaction fees ............................... $3,373.5 $3,532.9 $3,286.6 (5)% 7%
Foreign exchange revenue ....................... 877.1 893.1 769.3 (2)% 16%
Other revenues................................ 50.1 45.6 37.2 10% 23%
Total revenues .................................. $4,300.7 $4,471.6 $4,093.1 (4)% 9%
Operating income ............................... $1,175.5 $1,222.7 $1,078.3 (4)% 13%
Operating income margin .......................... 27% 27% 26%
Key indicator:
Consumer-to-consumer transactions .................. 196.1 188.1 167.7 4% 12%
The table below sets forth transaction and revenue growth/(decline) rates by region for the years ended
December 31, 2009 and 2008.
2009 2008
Years Ended December 31,
Consumer-to-consumer transaction growth/(decline) (a):
EMEASA ..................................................... 10% 23%
Americas ...................................................... (3)% 2%
APAC........................................................ 18% 27%
Consumer-to-consumer revenue growth/(decline) (a):
EMEASA ..................................................... (1)% 16%
Americas ...................................................... (9)% (1)%
APAC........................................................ 5% 22%
(a) In determining the revenue and transaction growth rates under the regional view in the above table, the
geographic split is determined based upon the region where the money transfer is initiated and the region
where the money transfer is paid. For transactions originated and paid in different regions, we split the
transaction count and revenue between the two regions, with each region receiving 50%. For money
transfers initiated and paid in the same region, 100% of the revenue and transactions are attributed to that
region.
When referring to revenue and transaction growth rates for individual countries in the following
discussion, all transactions to, from and within those countries, and 100% of the revenue associated with each
transaction to, from and within those countries are included. The countries of India and China combined
represented approximately 7%, 6% and 5% of consolidated Western Union revenues during the years ended
December 31, 2009, 2008 and 2007, respectively. No individual country, other than the United States,
represented more than approximately 6%, 7% and 7% of our consolidated revenue for the years ended
December 31, 2009, 2008 and 2007, respectively.
49