Western Union 2015 Annual Report Download - page 221

THE WESTERN UNION COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
119
8. Fair Value Measurements
Fair value, as defined by the relevant accounting standards, represents the exchange price that would be received for an asset
or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly
transaction between market participants on the measurement date. For additional information on how the Company measures fair
value, refer to Note 2.
The following tables reflect assets and liabilities that were measured at fair value on a recurring basis (in millions):
Fair Value Measurement Using
Assets/
Liabilities at
Fair
Value
December 31, 2015 Level 1 Level 2 Level 3
Assets:
Settlement assets:
State and municipal debt securities . . . . . . . . . . . . . . . . $ — $ 1,052.5 $ — $ 1,052.5
State and municipal variable rate demand notes . . . . . . — 42.9 — 42.9
Corporate and other debt securities . . . . . . . . . . . . . . . . — 67.2 — 67.2
Other assets:
Derivatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 396.3 — 396.3
Foreign corporate debt securities. . . . . . . . . . . . . . . . . . — 9.3 — 9.3
Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ 1,568.2 $ — $ 1,568.2
Liabilities:
Derivatives. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ 283.7 $ — $ 283.7
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ 283.7 $ — $ 283.7
Fair Value Measurement Using
Assets/
Liabilities at
Fair
Value
December 31, 2014 Level 1 Level 2 Level 3
Assets:
Settlement assets:
State and municipal debt securities . . . . . . . . . . . . . . . . $ — $ 1,038.1 $ — $ 1,038.1
State and municipal variable rate demand notes . . . . . . — 316.8 — 316.8
Corporate and other debt securities . . . . . . . . . . . . . . . . — 70.5 — 70.5
Short-term state and municipal bond mutual fund. . . . . 47.1 — — 47.1
Other assets:
Derivatives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 423.0 — 423.0
Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 47.1 $ 1,848.4 $ — $ 1,895.5
Liabilities:
Derivatives. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ 317.1 $ — $ 317.1
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ 317.1 $ — $ 317.1
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