Western Union 2014 Annual Report Download - page 172
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2014 FORM 10-K
34
We have substantial debt obligations that could restrict our operations.
As of December 31, 2014, we had approximately $3.7 billion in consolidated indebtedness, and we may also incur additional
indebtedness in the future.
Our indebtedness could have adverse consequences, including:
• limiting our ability to pay dividends to our stockholders or to repurchase stock consistent with our historical practices;
• increasing our vulnerability to changing economic, regulatory and industry conditions;
• limiting our ability to compete and our flexibility in planning for, or reacting to, changes in our business and the industry;
• limiting our ability to borrow additional funds; and
• requiring us to dedicate a substantial portion of our cash flow from operations to payments on our debt, thereby reducing
funds available for working capital, capital expenditures, acquisitions and other purposes.
There would be adverse tax consequences associated with using certain earnings generated outside the United States to pay
the interest and principal on our indebtedness. Accordingly, this portion of our cash flow will be unavailable under normal
circumstances to service our debt obligations.