Western Union 2013 Annual Report Download - page 214
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2013 FORM 10-K
THE WESTERN UNION COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
104
The details of each designated hedging relationship are formally documented at the inception of the arrangement, including
the risk management objective, hedging strategy, hedged item, specific risks being hedged, the derivative instrument, how
effectiveness is being assessed and how ineffectiveness, if any, will be measured. The derivative must be highly effective in
offsetting the changes in cash flows or fair value of the hedged item, and effectiveness is evaluated quarterly on a retrospective
and prospective basis.
Stock-Based Compensation
The Company currently has a stock-based compensation plan that provides for grants of Western Union stock options, restricted
stock awards and restricted and unrestricted stock units to employees and non-employee directors of the Company who perform
services for the Company. In addition, the Company has a stock-based compensation plan that provides for grants of Western
Union stock options and stock unit awards to non-employee directors of the Company.
All stock-based compensation to employees is required to be measured at fair value and expensed over the requisite service
period and also requires an estimate of forfeitures when calculating compensation expense. The Company recognizes compensation
expense on awards on a straight-line basis over the requisite service period for the entire award. Refer to Note 16 for additional
discussion regarding details of the Company's stock-based compensation plans.
Severance and Other Related Expenses
The Company records severance-related expenses once they are both probable and estimable in accordance with the provisions
of the applicable accounting guidance for severance provided under an ongoing benefit arrangement. One-time, involuntary benefit
arrangements and other costs are generally recognized when the liability is incurred. The Company also evaluates impairment
issues associated with restructuring and other activities when the carrying amount of the assets may not be fully recoverable, in
accordance with the appropriate accounting guidance.