Western Union 2011 Annual Report Download - page 95
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THE WESTERN UNION COMPANY
Consolidated Statements of Income
(in millions, except per share amounts)
Year Ended December 31,
2011 2010 2009
Revenues:
Transaction fees ............................................ $ 4,220.2 $ 4,055.3 $ 4,036.2
Foreign exchange revenues ................................... 1,151.2 1,018.8 910.3
Other revenues ............................................. 120.0 118.6 137.1
Total revenues ................................................. 5,491.4 5,192.7 5,083.6
Expenses:
Cost of services ............................................ 3,102.0 2,978.4 2,874.9
Selling, general and administrative ............................. 1,004.4 914.2 926.0
Total expenses* ................................................ 4,106.4 3,892.6 3,800.9
Operating income .............................................. 1,385.0 1,300.1 1,282.7
Other income/(expense):
Interest income ............................................ 5.2 2.8 9.4
Interest expense ............................................ (181.9) (169.9) (157.9)
Derivative gains/(losses), net ................................. 14.0 (2.5) (2.8)
Other income, net .......................................... 52.3 14.7 0.1
Total other expense, net ......................................... (110.4) (154.9) (151.2)
Income before income taxes ...................................... 1,274.6 1,145.2 1,131.5
Provision for income taxes ....................................... 109.2 235.3 282.7
Net income ................................................... $ 1,165.4 $ 909.9 $ 848.8
Earnings per share:
Basic .................................................... $ 1.85 $ 1.37 $ 1.21
Diluted ................................................... $ 1.84 $ 1.36 $ 1.21
Weighted-average shares outstanding:
Basic .................................................... 630.6 666.5 698.9
Diluted ................................................... 634.2 668.9 701.0
* As further described in Note 5, total expenses include amounts for related parties of $190.7 million,
$236.4 million, and $257.4 million for the years ended December 31, 2011, 2010 and 2009, respectively.
See Notes to Consolidated Financial Statements.
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