Western Union 2012 Annual Report Download - page 142

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THE WESTERN UNION COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
137
(e) The second quarter includes a gain of $29.4 million, recognized in connection with the remeasurement of the Company's
former equity interest in Costa to fair value. The fourth quarter includes a net gain of $20.8 million recorded on derivative
contracts, consisting of foreign currency forward contracts with maturities of less than one year, entered into to reduce the
economic variability related to the cash amounts used to fund acquisitions of businesses with purchase prices denominated
in foreign currencies, primarily for the TGBP acquisition. The fourth quarter also includes a gain of $20.5 million, recognized
in connection with the remeasurement of the Company's former equity interest in Finint to fair value.
(f) In December 2011, the Company reached an agreement with the IRS resolving substantially all of the issues related to the
Company's restructuring of its international operations in 2003. As a result of the IRS Agreement, the Company recognized
a tax benefit of $204.7 million in the fourth quarter related to the adjustment of reserves associated with this matter.