Western Union 2011 Annual Report Download - page 51

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ITEM 6. SELECTED FINANCIAL DATA
The financial information in this Annual Report on Form 10-K is presented on a consolidated basis and
includes the accounts of the Company and our majority-owned subsidiaries. Our selected historical financial data
are not necessarily indicative of our future financial condition, future results of operations or future cash flows.
You should read the information set forth below in conjunction with our historical consolidated financial
statements and the notes to those statements included elsewhere in this Annual Report on Form 10-K.
Year ended December 31,
(in millions, except per share data) 2011 2010 2009 2008 2007
Statements of Income Data:
Revenues (a) .............................. $ 5,491.4 $ 5,192.7 $ 5,083.6 $ 5,282.0 $ 4,900.2
Operating expenses (b) (c) (d) ................. 4,106.4 3,892.6 3,800.9 3,927.0 3,578.2
Operating income (a) (b) (c) (d) ............... 1,385.0 1,300.1 1,282.7 1,355.0 1,322.0
Interest income (e) .......................... 5.2 2.8 9.4 45.2 79.4
Interest expense (f) ......................... (181.9) (169.9) (157.9) (171.2) (189.0)
Other income/(expense), net, excluding interest
income and interest expense (g) ............. 66.3 12.2 (2.7) 9.7 10.0
Income before income taxes
(a)(b)(c)(d)(e)(f)(g) .................... 1,274.6 1,145.2 1,131.5 1,238.7 1,222.4
Net income (a) (b) (c) (d) (e) (f) (g) (h) ......... 1,165.4 909.9 848.8 919.0 857.3
Depreciation and amortization ................ 192.6 175.9 154.2 144.0 123.9
Cash Flow Data:
Net cash provided by operating activities (i) ..... 1,174.9 994.4 1,218.1 1,253.9 1,103.5
Capital expenditures (j) ...................... (162.5) (113.7) (98.9) (153.7) (192.1)
Common stock repurchased (k) ................ (803.9) (581.4) (400.2) (1,314.5) (726.8)
Earnings Per Share Data:
Basic (a) (b) (c) (d) (e) (f) (g) (h) (k) ........... $ 1.85 $ 1.37 $ 1.21 $ 1.26 $ 1.13
Diluted (a) (b) (c) (d) (e) (f) (g) (h) (k) .......... $ 1.84 $ 1.36 $ 1.21 $ 1.24 $ 1.11
Cash dividends to stockholders per common share
(l) ..................................... $ 0.31 $ 0.25 $ 0.06 $ 0.04 $ 0.04
Key Indicators (unaudited):
Consumer-to-consumer transactions (m) ........ 225.8 213.7 196.1 188.1 167.7
Global business payments transactions (n) ....... 425.0 404.9 414.8 412.1 404.5
As of December 31,
2011 2010 2009 2008 2007
Balance Sheet Data:
Settlement assets ........................... $ 3,091.2 $ 2,635.2 $ 2,389.1 $ 1,207.5 $ 1,319.2
Total assets ............................... 9,069.9 7,929.2 7,353.4 5,578.3 5,784.2
Settlement obligations ....................... 3,091.2 2,635.2 2,389.1 1,207.5 1,319.2
Total borrowings ........................... 3,583.2 3,289.9 3,048.5 3,143.5 3,338.0
Total liabilities ............................ 8,175.1 7,346.5 6,999.9 5,586.4 5,733.5
Total stockholders’ equity/(deficiency) ......... 894.8 582.7 353.5 (8.1) 50.7
(a) Revenue for the years ended December 31, 2011, 2010 and 2009 included $129.9 million, $111.0 million
and $30.8 million, respectively, of revenue related to the Custom House acquisition in September 2009,
which has subsequently been rebranded to “Western Union Business Solutions.” Revenue for the year ended
December 31, 2011 included $35.2 million of revenue related to Travelex Global Business Payments
(“TGBP”), which was acquired in November 2011.
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