Western Union 2014 Annual Report Download - page 271

2014 FORM 10-K
THE WESTERN UNION COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
133
The following table summarizes the net fair value of derivatives held as of December 31, 2014 and their expected maturities
(in millions):
Total 2015 2016 2017 2018 2019 Thereafter
Foreign currency cash flow hedges — Consumer-to-Consumer. . . . $ 62.6 $ 44.5 $ 18.1 $ — $ — $ — $ —
Foreign currency undesignated hedges — Consumer-to-Consumer .2.5 2.5 — — — — —
Foreign currency undesignated hedges — Business Solutions . . . . . 39.2 38.2 1.0 — — — —
Interest rate fair value hedges — Corporate . . . . . . . . . . . . . . . . . . . 1.6 — — (1.0) (0.9) — 3.5
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 105.9 $ 85.2 $ 19.1 $ (1.0) $ (0.9) $ — $ 3.5
The fair values of derivative assets and liabilities associated with contracts that include netting language that the Company
believes to be enforceable have been netted in the following tables to present the Company's net exposure with these counterparties.
The Company's rights under these agreements generally allow for transactions to be settled on a net basis, including upon early
termination, which could occur upon the counterparty's default, a change in control, or other conditions.
In addition, certain of the Company's other agreements include netting provisions, the enforceability of which may vary from
jurisdiction to jurisdiction and depending on the circumstances. Due to the uncertainty related to the enforceability of these
provisions, the derivative balances associated with these agreements are included within "Derivatives that are not or may not be
subject to master netting arrangement or similar agreement" in the following tables. In certain circumstances, the Company may
require its Business Solutions customers to maintain collateral balances which may mitigate the risk associated with potential
customer defaults.