Western Union 2012 Annual Report Download - page 98

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THE WESTERN UNION COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
93
Settlement assets and obligations consisted of the following (in millions):
December 31,
2012 2011
Settlement assets:
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 574.5 $ 712.5
Receivables from selling agents and Business Solutions customers . . . . . . . . . . . . . . . . . . . . . . . . . 1,025.3 1,046.7
Investment securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,514.8 1,332.0
$ 3,114.6 $ 3,091.2
Settlement obligations:
Money transfer, money order and payment service payables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,297.1 $ 2,242.3
Payables to agents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 817.5 848.9
$ 3,114.6 $ 3,091.2
Property and Equipment
Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the lesser of the
estimated life of the related assets (generally three to 10 years for equipment, furniture and fixtures, and 30 years for buildings)
or the lease term. Maintenance and repairs, which do not extend the useful life of the respective assets, are charged to expense as
incurred.