Western Union 2011 Annual Report Download - page 58
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results of operations, which provide more detailed discussions concerning certain components of the
Consolidated Statements of Income. All significant intercompany accounts and transactions between our
Company’s segments have been eliminated.
During the year ended December 31, 2011, we reached an agreement with the United States Internal Revenue
Service (“IRS”) resolving substantially all of the issues related to the restructuring of our international operations
in 2003. As a result of the IRS Agreement, we recognized a tax benefit of $204.7 million related to the
adjustment of reserves associated with this matter. For additional information, refer to “Income taxes.”
We incurred expenses of $46.8 million and $59.5 million for the years ended December 31, 2011 and 2010,
respectively, for restructuring and related activities, which have not been allocated to segments. No restructuring
and related expenses were recognized in the corresponding period in 2009. While these items are identifiable to
our segments, they are not included in the measurement of segment operating profit provided to the chief
operating decision maker (“CODM”) for purposes of assessing segment performance and decision making with
respect to resource allocation. For additional information on restructuring and related activities refer to
“Operating expenses overview.”
During the year ended December 31, 2009, we recorded a $71.0 million settlement accrual, which was not
allocated to the segments. While this item was identifiable to our consumer-to-consumer segment, it was not
included in the measurement of segment operating profit provided to the CODM for purposes of assessing
segment performance and decision making with respect to resource allocation. For additional information on the
settlement accrual, refer to “Selling, general and administrative” expenses.
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