Western Union 2011 Annual Report Download - page 119
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THE WESTERN UNION COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
No non-recurring fair value adjustments were recorded during the years ended December 31, 2011 and 2010,
except those associated with acquisitions, as disclosed in Note 3.
Other Fair Value Measurements
The carrying amounts for the Company’s financial instruments, including cash and cash equivalents,
settlement cash and cash equivalents, settlement receivables and settlement obligations approximate fair value
due to their short maturities. The Company’s borrowings had a carrying value and fair value of $3,583.2 million
and $3,563.5 million, respectively, as of December 31, 2011 and had a carrying value and fair value of
$3,289.9 million and $3,473.6 million, respectively, as of December 31, 2010 (see Note 15).
The fair value of the assets in the Trust, which holds the assets for the Company’s defined benefit plan, is
disclosed in Note 11.
9. Other Assets and Other Liabilities
The following table summarizes the components of other assets and other liabilities (in millions):
December 31,
2011 2010
Other assets:
Derivatives ............................................................. $ 124.8 $ 69.8
Prepaid expenses ......................................................... 54.5 50.1
Equity method investments ................................................. 41.3 85.7
Other receivables ......................................................... 37.6 26.2
Amounts advanced to agents, net of discounts .................................. 34.1 25.3
Deferred customer set up costs .............................................. 18.0 20.4
Debt issue costs .......................................................... 15.8 12.8
Accounts receivable, net ................................................... 14.8 13.8
Receivables from First Data ................................................ 3.6 24.1
Other .................................................................. 18.9 22.2
Total other assets ............................................................ $ 363.4 $ 350.4
Other liabilities:
Pension obligations ....................................................... $ 112.7 $ 112.8
Derivatives ............................................................. 86.6 80.9
Deferred revenue ......................................................... 33.6 37.3
Other .................................................................. 40.7 23.5
Total other liabilities ......................................................... $ 273.6 $ 254.5
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