The Western Union Company (WU) 10-K 26 Feb 10 2009 FY Annual report Financial data

Document and Company Informatio

Document and Company Information (USD $)
In Billions, except Share data	12 Months Ended Dec. 31, 2009	Feb. 12, 2010	Jun. 30, 2009
Document and Company Information [Abstract]
Company Name	Western Union CO
Entity Central Index Key (CIK)	0001365135
Form Type	10-K
Report Period	2009-12-31
Amendment	false
Company Fiscal Year End Date	--12-31
Company Well-known Seasoned Issuer (WKSI)	Yes
Entity Voluntary Filers	No
Current with Filings	Yes
Accelerated Filing Status	Large Accelerated Filer
Public Float			11.5
Entity Common Stock, Shares Outstanding		682,769,241

Consolidated Statements of Inco

Consolidated Statements of Income (USD $)
In Millions, except Per Share data	12 Months Ended Dec. 31, 2009		12 Months Ended Dec. 31, 2008		12 Months Ended Dec. 31, 2007
Revenues:
Transaction fees	4036.2		4240.8		3989.8
Foreign exchange revenue	910.3		896.3		771.3
Commission and other revenues	137.1		144.9		139.1
Total revenues	5083.6		5,282		4900.2
Expenses:
Cost of services	2874.9		3,093		2808.4
Selling, general and administrative	926		834		769.8
Total expenses	3800.9	[1]	3,927	[1]	3578.2	[1]
Operating income	1282.7		1,355		1,322
Other income/(expense):
Interest income	9.4		45.2		79.4
Interest expense	-157.9		-171.2		(189)
Derivative (losses)/gains, net	-2.8		-6.9		8.3
Other income, net	0.1		16.6		1.7
Total other expense, net	-151.2		-116.3		-99.6
Income before income taxes	1131.5		1238.7		1222.4
Provision for income taxes	282.7		319.7		365.1
Net income	848.8		$919		857.3
Earnings per share:
Basic	1.21		1.26		1.13
Diluted	1.21		1.24		1.11
Weighted-average shares outstanding:
Basic	698.9		730.1		760.2
Diluted	701		738.2		772.9
[1]As further described in Note 5, total expenses include amounts paid for related parties of $257.4 million, $305.9 million and $256.6 million for the years ended December 31, 2009, 2008 and 2007, respectively.

1_Consolidated Statements of In

Consolidated Statements of Income (Parenthetical) (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Expenses:
Related parties	257.4	305.9	256.6

Consolidated Balance Sheets

Consolidated Balance Sheets (USD $)
In Millions	Dec. 31, 2009	Dec. 31, 2008
Assets
Cash and cash equivalents	1685.2	1295.6
Settlement assets	2389.1	1207.5
Property and equipment, net of accumulated depreciation of $335.4 and $284.0, respectively	204.3	192.3
Goodwill	2143.4	1674.2
Other intangible assets, net of accumulated amortization of $355.4 and $276.5, respectively	489.2	350.6
Other assets	442.2	858.1
Total assets	7353.4	5578.3
Liabilities:
Accounts payable and accrued liabilities	501.2	385.7
Settlement obligations	2389.1	1207.5
Income taxes payable	519	381.6
Deferred tax liability, net	268.9	270.1
Borrowings	3048.5	3143.5
Other liabilities	273.2	198
Total liabilities	6999.9	5586.4
Stockholders' equity/(deficiency):
Preferred stock, $1.00 par value; 10 shares authorized; no shares issued	0	0
Common stock, $0.01 par value; 2,000 shares authorized; 686.5 and 709.6 shares issued and outstanding at December 31, 2009 and 2008, respectively	6.9	7.1
Capital surplus/(deficiency)	40.7	-14.4
Retained earnings	433.2	29.2
Accumulated other comprehensive loss	-127.3	(30)
Total stockholders' equity/(deficiency)	353.5	-8.1
Total liabilities and stockholders' equity/(deficiency)	7353.4	5578.3

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) (USD $)
In Millions	Dec. 31, 2009	Dec. 31, 2008
Assets
Accumulated depreciation	335.4	$284
Accumulated amortization	355.4	276.5
Stockholders' equity/(deficiency):
Preferred stock, Par value	1	1
Preferred stock, Shares authorized	10	10
Preferred stock, Shares issued	0	0
Common stock, Par value	0.01	0.01
Common stock, Shares authorized	2,000	2,000
Common stock, Shares issued	686.5	709.6
Common stock, Shares outstanding	686.5	709.6

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Cash flows from operating activities
Net income	848.8	$919	857.3
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	55.9	61.7	49.1
Amortization	98.3	82.3	74.8
Deferred income tax (benefit)/provision	-20.8	15.9	4.2
Stock compensation expense	31.9	26.3	50.2
Other non-cash items, net	44.1	42.9	14.6
Increase/(decrease) in cash, excluding the effects of acquisitions, resulting from changes in:
Other assets	-31.4	6.9	16.2
Accounts payable and accrued liabilities	75.5	35.2	43.4
Income taxes payable	138.3	91.2	15.3
Other liabilities	-22.5	-27.5	-21.6
Net cash provided by operating activities	1218.1	1253.9	1103.5
Cash flows from investing activities
Capitalization of contract costs	-27.3	-82.8	-80.9
Capitalization of purchased and developed software	-11.9	(17)	-27.7
Purchases of property and equipment	-59.7	-53.9	-83.5
Acquisition of businesses, net of cash acquired	-515.9	-42.8	0
Proceeds from/(increase in) receivable for securities sold	255.5	-298.1	0
Notes receivable issued to agents	0	(1)	-6.1
Repayments of notes receivable issued to agents	35.2	41.9	32
Purchase of equity method investments	0	0	-35.8
Net cash used in investing activities	-324.1	-453.7	(202)
Cash flows from financing activities
Net (repayments of)/proceeds from commercial paper	-82.8	-255.3	13.6
Net repayments of net borrowings under credit facilities	0	0	(3)
Net proceeds from issuance of borrowings	496.6	500	0
Principal payments on borrowings	(500)	(500)	0
Proceeds from exercise of options	23.2	300.5	216.1
Cash dividends paid	-41.2	-28.4	(30)
Common stock repurchased	-400.2	-1314.5	-726.8
Net cash used in financing activities	-504.4	-1297.7	-530.1
Net change in cash and cash equivalents	389.6	-497.5	371.4
Cash and cash equivalents at beginning of year	1295.6	1793.1	1421.7
Cash and cash equivalents at end of year	1685.2	1295.6	1793.1
Supplemental cash flow information :
Interest paid	150	171.6	185.8
Income taxes paid	162.8	230.3	340.9

Consolidated Statements of Stoc

Consolidated Statements of Stockholders Equity (Deficiency) (USD $)
In Millions	Previously Reported	Previously Reported Common Stock	Previously Reported Treasury Stock	Previously Reported Capital Surplus/(Deficiency)	Previously Reported Retained Earnings	Previously Reported Accumulated Other Comprehensive Loss	Common Stock	Treasury Stock	Capital Surplus/(Deficiency)	Retained Earnings	Accumulated Other Comprehensive Loss	Total
Beginning Balance, shares at Dec. 31, 2005							0
Cumulative effect of adoption of tax contingency accounting principle										-0.6		-0.6
Ending Balance at Dec. 31, 2006	-314.8	7.7	-19.9	-437.1	208	-73.5	7.7	-19.9	-437.1	207.4	-73.5	-315.4
Ending Balance, shares at Dec. 31, 2006		772	-0.9				772	-0.9
Net income										857.3		857.3
Stock-based compensation									50.2			50.2
Common stock dividends										(30)		(30)
Purchase of treasury shares								-677.5		-0.9		-678.4
Purchase of treasury shares, shares								-32.4
Repurchase and retirement of common shares										-53.8		-53.8
Repurchase and retirement of common shares, shares							-2.3
Cancellation of treasury stock							-0.2	462		-461.8
Cancellation of treasury stock, shares							-22.7	22.7
Shares issued under stock-based compensation plans								235.4	41.5	-65.1		211.8
Shares issued under stock-based compensation plans, shares							2.8	10.6
Tax adjustments from employee stock option plans									4.3			4.3
Unrealized gain (losses) on investment securities, net of tax											-1.5	-1.5
Unrealized gains (losses) on hedging activities, net of tax											-14.4	-14.4
Foreign currency translation adjustment, net of tax											5.3	5.3
Pension liability adjustment, net of tax											15.3	15.3
Ending Balance at Dec. 31, 2007							7.5		-341.1	453.1	-68.8	50.7
Ending Balance, shares at Dec. 31, 2007							749.8
Net income										919		919
Stock-based compensation									26.3			26.3
Common stock dividends										-28.4		-28.4
Repurchase and retirement of common shares							-0.6			-1314.6		-1315.2
Repurchase and retirement of common shares, shares							-58.1
Shares issued under stock-based compensation plans							0.2		289.5			289.7
Shares issued under stock-based compensation plans, shares							17.9
Tax adjustments from employee stock option plans									10.9			10.9
Effects of pension plan measurement date change										0.1		0.1
Unrealized gain (losses) on investment securities, net of tax											1.2	1.2
Unrealized gains (losses) on hedging activities, net of tax											89.2	89.2
Foreign currency translation adjustment, net of tax											-5.2	-5.2
Pension liability adjustment, net of tax											-46.4	-46.4
Ending Balance at Dec. 31, 2008							7.1		-14.4	29.2	(30)	-8.1
Ending Balance, shares at Dec. 31, 2008							709.6
Net income										848.8		848.8
Stock-based compensation									31.9			31.9
Common stock dividends										-41.2		-41.2
Repurchase and retirement of common shares							-0.2			-403.6		-403.8
Repurchase and retirement of common shares, shares							-24.9
Shares issued under stock-based compensation plans									23.9			23.9
Shares issued under stock-based compensation plans, shares							1.8
Tax adjustments from employee stock option plans									-0.7			-0.7
Unrealized gain (losses) on investment securities, net of tax											5.5	5.5
Unrealized gains (losses) on hedging activities, net of tax											-62.5	-62.5
Foreign currency translation adjustment, net of tax											(29)	(29)
Pension liability adjustment, net of tax											-11.3	-11.3
Ending Balance at Dec. 31, 2009							6.9		40.7	433.2	-127.3	353.5
Ending Balance, shares at Dec. 31, 2009							686.5

Formation of the Entity and Bas

Formation of the Entity and Basis of Presentation
	12 Months Ended Dec. 31, 2009 USD / shares
Formation of the Entity and Basis of Presentation [Abstract]
Formation of the Entity and Basis of Presentation	1. Formation of the Entity and Basis of Presentation The Western Union Company (Western Union or the Company) is a leader in global money transfer and payment services, providing people and businesses with fast, reliable and convenient ways to send money and make payments around the world. The Western Union brand is globally recognized. The Companys services are available through a network of agent locations in more than 200 countries and territories. Each location in the Companys agent network is capable of providing one or more of the Companys services. The Western Union business consists of the following segments: Consumer-to-consumermoney transfer services between consumers, primarily through a global network of third-party agents using the Companys multi-currency, real-time money transfer processing systems. This service is available for international cross-border transfersthat is, the transfer of funds from one country to anotherand, in certain countries, intra-country transfersthat is, money transfers from one location to another in the same country. Global business payments (formerly consumer-to-business)the processing of payments from consumers or businesses to other businesses. The Companys business payments services allow consumers to make payments to a variety of organizations including utilities, auto finance companies, mortgage servicers, financial service providers, government agencies and other businesses. As described further in Note3, Acquisitions, the Company acquired Canada-based Custom House, Ltd. (Custom House), a provider of international business-to-business payment services, which is included in this segment. Custom House facilitates cross-border, cross-currency payment transactions. While the Company continues to pursue further international expansion of its offerings in this segment, the segments revenue was primarily generated in the United States during all periods presented. All businesses that have not been classified into the consumer-to-consumer or global business payments segments are reported as Other and primarily include the Companys money order services business. Prior to October1, 2009, the Companys money orders were issued by Integrated Payment Systems Inc. (IPS), a subsidiary of First Data Corporation (First Data), to consumers at retail locations primarily in the United States and Canada. Effective October1, 2009, the Company assumed the responsibility for issuing money orders. There are legal or regulatory limitations on transferring certain assets of the Company outside of the countries where these assets are located, or which constitute undistributed earnings of affiliates of the Company accounted for under the equity method of accounting. However, there are generally no limitations on the use of these assets within those countries. As of December31, 2009, the amount of net assets subject to these limitations totaled approximately $190million. Various aspects of the Companys services and businesses are subject to United States federal, state and local regulation, as well as regulation by foreign jurisdictions, including certain bank

Summary of Significant Accounti

Summary of Significant Accounting Policies
	12 Months Ended Dec. 31, 2009 USD / shares
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. Principles of Consolidation Western Union consolidates financial results when it will absorb a majority of an entitys expected losses or residual returns or when it has the ability to exert control over the entity. Control is normally established when ownership interests exceed 50% in an entity. Western Union utilizes the equity method of accounting when it is able to exercise significant influence over the entitys operations, which generally occurs when Western Union has an ownership interest of between 20% and 50% in an entity. Earnings Per Share The calculation of basic earnings per share is computed by dividing net income available to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Unvested shares of restricted stock are excluded from basic shares outstanding. Diluted earnings per share reflects the potential dilution that could occur if outstanding stock options at the presented dates are exercised and shares of restricted stock have vested, using the treasury stock method. The treasury stock method assumes proceeds from the exercise price of stock options, the unamortized compensation expense and assumed tax benefits of options and restricted stock are available to acquire shares at an average market price throughout the year, and therefore, reduce the dilutive effect. As of December31, 2009, 2008 and 2007, there were 37.5million, 8.0million and 10.4million, respectively, of outstanding options to purchase shares of Western Union stock excluded from the diluted earnings per share calculation, as their effect was anti-dilutive. During the year ended December31, 2009, the average market price of the Companys common stock was lower than the exercise price for most of its outstanding options, resulting in higher anti-dilutive shares than in the comparable prior periods. The following table provides the calculation of diluted weighted-average shares outstanding (in millions): For the Year Ended December31, 2009 2008 2007 Basic weighted-average shares outstanding 698.9 730.1 760.2 Common stock equivalents 2.1 8.1 12.7 Diluted weighted-average shares outstanding 701.0 738.2 772.9 Fair Value Measurements The Company determines the fair values of its assets and liabilities that are recognized or disclosed at fair value in accordance with the hierarchy described below. The fair values of the assets and liabilities held in the Companys defined benefit plan trust (Trust) are recognized or disclosed utilizing the same hierarchy. Th

Acquisitions

Acquisitions
	12 Months Ended Dec. 31, 2009 USD / shares
Acquisitions [Abstract]
Acquisitions	3. Acquisitions Custom House, Ltd. On September1, 2009, the Company acquired Canada-based Custom House, a provider of international business-to-business payment services, for $371.0million. The acquisition of Custom House has allowed the Company to enter the international business-to-business payments market. Custom House facilitates cross-border, cross-currency payment transactions. These payment transactions are conducted through various channels including the telephone and internet. The significant majority of Custom Houses revenue is from exchanges of currency at the spot rate enabling customers to make cross-currency payments. In addition, this business writes foreign currency forward and option contracts for their customers to facilitate future payments. The duration of these derivatives contracts is generally nine months or less. The results of operations for Custom House have been included in the Companys consolidated financial statements from the date of acquisition, September1, 2009. The Company recorded the assets and liabilities of Custom House at fair value, excluding the deferred tax liability. The following table summarizes the preliminary allocation of purchase price: Assets: Cash acquired $ 2.5 Settlement assets 152.5 Property and equipment 6.7 Goodwill 272.2 Other intangible assets 118.1 Other assets 78.1 Total assets $ 630.1 Liabilities: Accounts payable and accrued liabilities $ 23.5 Settlement obligations 152.5 Deferred tax liability, net 31.9 Other liabilities 51.2 Total liabilities 259.1 Total consideration, including cash acquired $ 371.0 The valuation of assets acquired resulted in $118.1million of identifiable intangible assets, $99.8million of which were attributable to customer and other contractual relationships and were valued using an income approach and $18.3million of other intangibles, which were valued using both income and cost approaches. These fair values were derived using primarily unobservable Level3 inputs which require significant management judgment and estimation. For the remaining assets and liabilities, fair value approximated carrying value. The intangible assets related to customer and other contractual relationships are being amortized over 10 to 12years. The remaining intangibles are being amortized over three to five years. The goodwill recognized of $272.2million is attributable to the projected long-term business growth in current and new markets and an assembled workforce. All goodwill relates entirely to the global business payments segment. The preliminary assessment of goodwill expected to be deductible for United States income tax purposes is approximately $225.1million. The net deferred tax liability of $31.9million and the resulting impacts on goodwill are preliminary and will be completed once the Company finalizes its tax review for this acquisition. In addition,

Restructuring and Related Expen

Restructuring and Related Expenses
	12 Months Ended Dec. 31, 2009 USD / shares
Restructuring and Related Expenses [Abstract]
Restructuring and Related Expenses	4. Restructuring and Related Expenses Missouri and Texas Closures During 2008, the Company closed substantially all of its facilities in Missouri and Texas and did not renew the Companys collective bargaining agreement with the unionized workers employed at these locations. The decision also resulted in the elimination of certain management positions in these same facilities and resulted, along with other actions, in the Company no longer having employees working in the United States under a collective bargaining agreement. The Company incurred severance and employee related benefit expenses for all union and certain affected management employees, facility closure expenses and other expenses associated with the relocation of these operations to existing Company facilities and third-party providers, including costs related to hiring, training, relocation, travel and professional fees. The Company incurred cumulative total expenses of $46.3million comprised of $13.1million, $7.3million, $7.8million and $18.1million in severance and other employee related costs, asset write-offs and incremental depreciation, lease terminations and other restructuring expenses, respectively, through December31, 2008. No additional restructuring and related expenses were incurred in the year ended December31, 2009. Other Reorganizations Also during 2008, in addition to the Missouri and Texas closures, the Company restructured some of its operations and relocated or eliminated certain shared service and call center positions. The relocated positions were moved to the Companys existing facilities or outsourced service providers in 2008. The Company incurred cumulative total expenses of $36.6million comprised of $31.2million, $0.6million and $4.8million in severance and other employee related costs, asset write-offs and incremental depreciation and other restructuring expenses, respectively, through December31, 2008. No additional restructuring and related expenses were incurred in the year ended December31, 2009. Total Plans At December31, 2008, the Company had a restructuring accrual of $25.8million related to these plans, of which $24.8million represented an accrual for severance and employee related expenses. During 2009, substantially all of the accruals were paid resulting in a remaining restructuring accrual which was immaterial at December31, 2009. The Company did not incur any material restructuring and related expenses in the year ended December31, 2009. Restructuring and related expenses were reflected in the Consolidated Statement of Income for the year ended December31, 2008 as follows (in millions): Year Ended December31, 2008 Cost of services $ 62.8 Selling, general and administrative 20.1 Total restructuring and related expenses, pre-tax $ 82.9 Total restructuring and related expenses, net of tax $ 51.6 While these items were identifiable to the Companys segments, these expenses were excluded from the measurement of segment operating profit provided to the chief operati

Related Party Transactions

Related Party Transactions
	12 Months Ended Dec. 31, 2009 USD / shares
Related Party Transactions [Abstract]
Related Party Transactions	5. Related Party Transactions The Company has ownership interests in certain of its agents accounted for under the equity method of accounting. The Company pays these agents, as it does its other agents, commissions for money transfer and other services provided on the Companys behalf. Commission expense recognized for these agents for the years ended December31, 2009, 2008 and 2007 totaled $203.2million, $305.9million and $256.6million, respectively. For those agents where an ownership interest was acquired during 2007, only amounts paid subsequent to the investment date have been reflected as a related party transaction. Commission expense recognized for FEXCO prior to February24, 2009, the date of the acquisition (see Note3), was considered a related party transaction. In July 2009, the Company appointed a director who is also a director for a company holding significant investments in two of the Companys existing agents. These agents had been agents of the Company prior to the director being appointed to the board. The Company recognized commission expense of $54.2million for the year ended December31, 2009 related to these agents.

Commitments and Contingencies

Commitments and Contingencies
	12 Months Ended Dec. 31, 2009 USD / shares
Commitments and Contingencies [Abstract]
Commitments and Contingencies	6. Commitments and Contingencies Letters of Credit and Bank Guarantees The Company had $88.0million in outstanding letters of credit and bank guarantees at December31, 2009 with expiration dates through 2015, certain of which contain a one-year renewal option. The letters of credit and bank guarantees are primarily held in connection with lease arrangements and certain agent agreements. The Company expects to renew the letters of credit and bank guarantees prior to expiration in most circumstances. Litigation and Related Contingencies During the year ended December31, 2009, the Company recorded an accrual of $71.0million for an anticipated agreement and settlement with the State of Arizona. On February11, 2010, the Company signed this agreement and settlement, which resolved all outstanding legal issues and claims with the State and requires the Company to fund a multi-state not-for-profit organization promoting safety and security along the United States and Mexico border, in which California, Texas and New Mexico will participate with Arizona. The accrual includes amounts for reimbursement to the State of Arizona for its costs associated with this matter. In addition, as part of the agreement and settlement, the Company expects to make certain investments in its compliance programs along the United States and Mexico border and to engage a monitor of that program, which are expected to cost up to $23million over the next two to four years. While the $71.0million in charges were identifiable to the Companys consumer-to-consumer segment, they were not included in the measurement of segment operating profit provided to the CODM for purposes of assessing segment performance and decision making with respect to resource allocation. The United States Department of Justice served one of our subsidiaries with a grand jury subpoena requesting documents in connection with an investigation into money transfers from the United States to the Dominican Republic during the last several years. The Company is cooperating fully with the DOJ investigation. Due to the stage of the DOJ investigation, the Company is unable to predict the outcome of the investigation or the possible loss or range of loss, if any, associated with the resolution of any charges that may be brought against the Company. In the normal course of business, Western Union is subject to claims and litigation. Management of Western Union believes such matters involving a reasonably possible chance of loss will not, individually or in the aggregate, result in a material adverse effect on Western Unions financial position, results of operations and cash flows. Western Union accrues for loss contingencies as they become probable and estimable. In May 2007, the Company initiated litigation against MoneyGram Payment Systems, Inc. (MoneyGram) for infringement of the Companys Money Transfer by Phone patents by MoneyGrams FormFree service. On September24, 2009, a jury found that MoneyGram was liable for patent infringement and awarded the Company $16.5million in damages. This case is on appeal to the United States Court of Appeals for the Federal Ci

Investment Securities

Investment Securities
	12 Months Ended Dec. 31, 2009 USD / shares
Investment Securities [Abstract]
Investment Securities	7. Investment Securities Investment securities, classified within Settlement assets in the Consolidated Balance Sheets, consist primarily of high-quality state and municipal debt obligations. Substantially all of the Companys investment securities were marketable securities during the periods presented. The Company is required to maintain specific high-quality, investment grade securities and such investments are restricted to satisfy outstanding settlement obligations in accordance with applicable state and foreign country requirements. Western Union does not hold investment securities for trading purposes. All investment securities are classified as available-for-sale and recorded at fair value. Investment securities are exposed to market risk due to changes in interest rates and credit risk. Western Union regularly monitors credit risk and attempts to mitigate its exposure by making high-quality investments and through investment diversification. At December31, 2009, the majority of the Companys investment securities had credit ratings of AA- or better from a major credit rating agency. Effective October1, 2009 (the Transition Date), in accordance with the agreement signed on July18, 2008, IPS, a subsidiary of First Data, assigned and transferred to the Company certain operating assets used by IPS to issue Western Union branded money orders and approximately $860million of cash sufficient to satisfy all outstanding money order liabilities. On the Transition Date, the Company assumed IPSs role as issuer of the money orders, including its obligation to pay outstanding money orders, and terminated the existing agreement whereby IPS paid Western Union a fixed return of 5.5% on the outstanding money order balances. Following the Transition Date, Western Union invested the cash received from IPS in high-quality, investment grade securities, primarily tax exempt United States state and municipal securities, in accordance with applicable regulations, which are the same as those currently governing the investment of the Companys United States originated money transfer principal. Prior to the Transition Date, the Company had entered into interest rate swaps on certain of its fixed rate notes to reduce its exposure to fluctuations in interest rates. Through a combination of the revenue generated from these investment securities and the anticipated interest expense savings resulting from the interest rate swaps, the Company estimates that it should be able to retain, subsequent to the Transition Date, a materially comparable after-tax rate of return through 2011 as it was receiving under its agreement with IPS. Refer to Note14 for additional information on the interest rate swaps. Subsequent to the Transition Date, all revenue generated from the investment portfolio is being retained by the Company. IPS continues to provide the Company with clearing services necessary for payment of the money orders in exchange for the payment by the Company to IPS of a per-item processing fee. The Company no longer provides to IPS the services required under the original money order agreement or receives from IPS the fee for such services

Fair Value Measurements

Fair Value Measurements
	12 Months Ended Dec. 31, 2009 USD / shares
Fair Value Measurements [Abstract]
Fair Value Measurements	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 Western Union measures fair value, refer to Note2, Summary of Significant Accounting Policies. The following table reflects assets and liabilities that were measured and carried at fair value on a recurring basis as of December31, 2009 (in millions): Fair Value Measurement Using Assets/Liabilities Level 1 Level 2 Level 3 at Fair Value Assets: State and municipal obligations $ $ 696.4 $ $ 696.4 State and municipal variable rate demand notes 513.8 513.8 Corporate debt securities 12.4 12.4 Other 0.2 0.2 Derivatives 109.4 0.5 109.9 Total assets $ 0.2 $ 1,332.0 $ 0.5 $ 1,332.7 Liabilities: Derivatives $ $ 80.6 $ $ 80.6 Total liabilities $ $ 80.6 $ $ 80.6 The Level3 assets above represent an immaterial portion of the derivatives portfolio related to the Custom House acquisition for which credit judgments are deemed to be a significant input to the determination of fair value. No non-recurring fair value adjustments were recorded during the year ended December31, 2009, except those associated with the acquisitions as disclosed in Note3, Acquisitions. Other Fair Value Measurements The carrying amounts for Western Union financial instruments, including cash and cash equivalents, settlement cash and cash equivalents, settlement receivables and settlement obligations approximate fair value due to their short maturities. The Companys borrowings had a carrying value and fair value of $3,048.5million and $3,211.3million, respectively, at December31, 2009 and had a carrying value and fair value of $3,143.5million and $2,846.7million, respectively, at December31, 2008 (see Note15). The fair value of the assets in the Trust, which holds the assets for the Companys defined benefit plans, are disclosed in Note11, Employee Benefit Plans.

Other Assets and Other Liabilit

Other Assets and Other Liabilities
	12 Months Ended Dec. 31, 2009 USD / shares
Other Assets and Other Liabilities [Abstract]
Other Assets and Other Liabilities	9. Other Assets and Other Liabilities The following table summarizes the components of other assets and other liabilities (in millions): December31, 2009 2008 Other assets: Derivatives $ 109.9 $ 116.8 Equity method investments 87.4 213.1 Other receivables 63.4 33.2 Amounts advanced to agents, net of discounts 37.5 69.3 Receivable for securities sold 30.6 298.1 Deferred customer set up costs 26.1 34.6 Receivables from First Data 24.8 26.3 Prepaid expenses 21.7 23.6 Debt issue costs 12.3 14.0 Accounts receivable, net 12.1 19.8 Other 16.4 9.3 Total other assets $ 442.2 $ 858.1 Other liabilities: Pension obligations $ 124.2 $ 107.1 Derivatives 80.6 10.8 Deferred revenue 45.4 59.4 Other 23.0 20.7 Total other liabilities $ 273.2 $ 198.0 Receivable for securities sold On September15, 2008, Western Union requested redemption of its shares in the Reserve International Liquidity Fund, Ltd. (the Fund), a money market fund, totaling $298.1million. Western Union included the value of the receivable in Other assets in the Consolidated Balance Sheets. At the time the redemption request was made, the Company was informed by the Reserve Management Company, the Funds investment advisor (the Manager), that the Companys redemption trades would be honored at a $1.00 per share net asset value. In 2009, the Company received partial distributions totaling $255.5million from the Fund. The Company continues to vigorously pursue collection of the remaining balance and believes it has a right to full payment of the remaining amount based on the written and verbal representations from the Manager and the Companys legal position. However, given the increased uncertainty surrounding the numerous third-party legal claims associated with the Fund, the Company reserved $12million representing the estimated impact of a pro-rata distribution of the Fund during 2009. As of December31, 2009, the Company had a remaining receivable balance of $30.6million, net of the related reserve. If further deterioration occurs in the underlying assets in the Fund, or if the Fund incurs significant legal and/or administrative costs during the distribution process, the Company may record additional reserves related to the remaining receivable balance, which could negatively affect its financial position, results of operations and cash flows. Amounts advanced to agents, net of discounts From time to time, the Company makes advances and loans to agents. In 2006, the Company signed a six year agreement with one of its existing agents which included a four year loan of $140.0million to

Income Taxes

Income Taxes
	12 Months Ended Dec. 31, 2009 USD / shares
Income Taxes [Abstract]
Income Taxes	10. Income Taxes The components of pretax income, generally based on the jurisdiction of the legal entity, were as follows (in millions): Year Ended December31, 2009 2008 2007 Components of pretax income: Domestic $ 249.7 $ 416.3 $ 529.3 Foreign 881.8 822.4 693.1 $ 1,131.5 $ 1,238.7 $ 1,222.4 The provision for income taxes was as follows (in millions): Year Ended December31, 2009 2008 2007 Federal $ 217.3 $ 234.8 $ 287.7 State and local 28.0 30.3 26.3 Foreign 37.4 54.6 51.1 $ 282.7 $ 319.7 $ 365.1 Domestic taxes have been incurred on certain pre-tax income amounts that were generated by the Companys foreign operations. Accordingly, the percentage obtained by dividing the total federal, state and local tax provision by the domestic pretax income, all as shown in the preceding tables, may be higher than the statutory tax rates in the United States. The Companys effective tax rates differed from statutory rates as follows: Year Ended December31, 2009 2008 2007 Federal statutory rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal income tax benefits 1.5 % 1.3 % 1.7 % Foreign rate differential (12.5 )% (11.4 )% (7.7 )% Other 1.0 % 0.9 % 0.9 % Effective tax rate 25.0 % 25.8 % 29.9 % The Company continues to benefit from an increasing proportion of profits being foreign-derived and therefore taxed at lower rates than its combined federal and state tax rates in the United States. In addition, in the second quarter of 2008, the Company implemented additional foreign tax efficient strategies consistent with its overall tax planning which impacted its effective tax rate for all subsequent periods. Western Unions provision for income taxes consisted of the following components (in millions): Year Ended December31, 2009 2008 2007 Current: Federal $ 235.8 $ 219.6 $ 284.9 State and local 26.0 34.5 25.5 Foreign 41.8 49.7 50.5 Total current taxes 303.6 303.8 360.9 Deferred: Federal (18.5 ) 15.2 2.8 State and local 2.0 (4.2 ) 0.8 Fore

Employee Benefit Plans

Employee Benefit Plans
	12 Months Ended Dec. 31, 2009 USD / shares
Employee Benefit Plans Disclosure [Abstract]
Employee Benefit Plans	11. Employee Benefit Plans Defined Contribution Plans The Western Union Company Incentive Savings Plan (401(k)) covers eligible employees on the United States payroll of Western Union. Employees who make voluntary contributions to this plan receive up to a 4% Western Union matching contribution. All matching contributions are immediately 100% vested. On September30, 2009, the Company merged its defined contribution plan covering its former union employees and transferred the plan assets into the 401(k). The Company administers more than 20 defined contribution plans in various countries globally on behalf of approximately 1,000employee participants as of December31, 2009. Such plans have vesting and employer contribution provisions that vary by country. In addition, Western Union sponsors a non-qualified deferred compensation plan for a select group of highly compensated employees. The plan provides tax-deferred contributions, matching and the restoration of Company matching contributions otherwise limited under the 401(k). The aggregate amount charged to expense in connection with all of the above plans was $11.2million, $12.5million and $11.6million during the years ended December31, 2009, 2008 and 2007, respectively. Defined Benefit Plans The Company has two frozen defined benefit pension plans (Plans) for which it had a recorded unfunded pension obligation of $124.2million as of December31, 2009, included in Other liabilities in the Consolidated Balance Sheets. Due to the closure of one of its facilities in Missouri (see Note4)and a recent agreement with the Pension Benefit Guaranty Corporation, the Company funded $4.1million into one of its subsidiarys pension plans during 2009. No contributions were made to these plans by Western Union during the years ended December31, 2008 and 2007. Pursuant to final guidance issued by the IRS in September 2009, the Company made certain interest rate elections under the Pension Protection Act which will require it to fund approximately $15million to the plans in 2010, which is less than was previously anticipated. In addition, the Company may make a discretionary contribution of up to approximately $10million for a total contribution of $25million to the plans in 2010. In connection with the adoption of an accounting standard, effective January1, 2008, the Company changed its plan measurement date to December31. In connection with the Companys change in measurement date, the Company prepared a 15-month projection of net periodic benefit income for the period from October1, 2007 through December31, 2008. The pro-rated portion of net periodic benefit income of $0.1million for the period from October1, 2007 through December31, 2007 was reflected as an increase to Retained earnings on January1, 2008. The Company recognizes the funded status of its pension plans in its Consolidated Balance Sheets with a corresponding adjustment to Accumulated other comprehensive loss, net of tax. The following table provides a reconciliation of the changes in the pension plans projected benefit obligations, fair value of assets and the funded status (

Operating Lease Commitments

Operating Lease Commitments
	12 Months Ended Dec. 31, 2009 USD / shares
Operating Lease Commitments [Abstract]
Operating Lease Commitments	12. Operating Lease Commitments Western Union leases certain real properties for use as customer service centers and administrative and sales offices. Western Union also leases data communications terminals, computers and office equipment. Certain of these leases contain renewal options and escalation provisions. Total rent expense under operating leases, net of sublease income, was $34.0million, $39.7million and $31.6million during the years ended December31, 2009, 2008 and 2007, respectively. As of December31, 2009, the minimum aggregate rental commitments under all noncancelable operating leases, net of sublease income commitments aggregating $3.4million through 2014, were as follows (in millions): Year Ending December31, 2010 $ 28.3 2011 21.5 2012 15.8 2013 12.0 2014 10.6 Thereafter 19.5 Total future minimum lease payments $ 107.7

Stockholders Equity

Stockholders Equity
	1/1/2009 - 12/31/2009 USD / shares
Stockholders' Equity [Abstract]
Stockholders' Equity	13. Stockholders Equity Accumulated other comprehensive loss Accumulated other comprehensive loss includes all changes in equity during a period that have yet to be recognized in income, except those resulting from transactions with shareholders. The major components include foreign currency translation adjustments, pension liability adjustments, unrealized gains and losses on investment securities and gains or losses from cash flow hedging activities. Unrealized gains and losses on investment securities that are available for sale, primarily municipal securities, are included in accumulated other comprehensive loss until the investment is either sold or deemed other-than-temporarily impaired. See Note7 for further discussion. The effective portion of the change in fair value of derivatives that qualify as cash flow hedges are recorded in accumulated other comprehensive loss. Generally, amounts are recognized in income when the related forecasted transaction affects earnings. See Note14 for further discussion. The assets and liabilities of foreign subsidiaries whose functional currency is not the United States dollar are translated using the appropriate exchange rate as of the end of the year. Foreign currency translation adjustments represent unrealized gains and losses on assets and liabilities arising from the difference in the foreign country currency compared to the United States dollar. These gains and losses are accumulated in comprehensive income. When a foreign subsidiary is substantially liquidated, the cumulative translation gain or loss is removed from Accumulated other comprehensive loss and is recognized as a component of the gain or loss on the sale of the subsidiary. A pension liability adjustment associated with our defined benefit pension plans is recognized for the difference between estimated assumptions (e.g., asset returns, discount rates, mortality) and actual results. The amount in Accumulated other comprehensive loss is amortized to income over the remaining life expectancy of the plan participants. Details of the pension plans assets and obligations are explained further in Note11. The income tax effects allocated to and the cumulative balance of each component of accumulated other comprehensive loss were as follows (in millions): 2009 2008 2007 Beginning balance, January 1 $ (30.0 ) $ (68.8 ) $ (73.5 ) Unrealized gains/(losses) on investments securities: Unrealized gains/(losses) 11.5 (2.4 ) (2.1 ) Tax (expense)/benefit (4.3 ) 0.9 0.7 Reclassification adjustment for (gains)/losses (2.7 ) 4.3 (0.2 ) Tax expense/(benefit) 1.0 (1.6 ) 0.1 Net unrealized gains/(losses) on investment securities 5.5 1.2 (1.5 ) Unrealized (losses)/gains on hedging activities: Unrealized (losses)/gains (43.6 )

Derivatives

Derivatives
	12 Months Ended Dec. 31, 2009 USD / shares
Derivatives [Abstract]
Derivatives	14. Derivatives The Company is exposed to foreign currency exchange risk resulting from fluctuations in exchange rates, primarily the euro, and to a lesser degree the British pound, Canadian dollar and other currencies, related to forecasted money transfer revenues and on money transfer settlement assets and obligations. Subsequent to the acquisition of Custom House, the Company is also exposed to risk from derivative contracts written to its customers arising from its cross-currency business-to-business payments operations. Additionally, the Company is exposed to interest rate risk related to changes in market rates both prior to and subsequent to the issuance of debt. The Company uses derivatives to (a)minimize its exposures related to changes in foreign currency exchange rates and interest rates and (b)facilitate cross-currency business-to-business payments by writing derivatives to customers and entering into offsetting derivatives with established financial institution counterparties, or by holding sufficient foreign currency cash balances to cover those transactions. Foreign currency forward and option contracts and interest rate swaps of varying maturities are used in these activities. The Company executes the consumer-to-consumer derivatives with established financial institutions, with the substantial majority of these financial institutions having credit ratings of A- or better from a major credit rating agency. The Company executes global business payments derivatives mostly with small and medium size enterprises. The credit risk inherent in both the consumer-to-consumer and global business payments agreements represents the possibility that a loss may occur from the nonperformance of a counterparty to the agreements. The Company performs a review of the credit risk of these counterparties at the inception of the contract and on an ongoing basis. The Company also monitors the concentration of its contracts with any individual counterparty. The Company anticipates that the counterparties will be able to fully satisfy their obligations under the agreements, but takes action (including termination of contracts) when doubt arises about the counterparties ability to perform. The Companys hedged foreign currency exposures are in liquid currencies, consequently there is minimal risk that appropriate derivatives to maintain the hedging program would not be available in the future. Foreign CurrencyConsumer-to-Consumer The Companys policy is to use longer-term foreign currency forward contracts, with maturities of up to 36months at inception and a targeted weighted-average maturity of approximately one year, to mitigate some of the risk that changes in foreign currency exchange rates compared to the United States dollar could have on forecasted revenues denominated in other currencies related to its business. At December31, 2009, the Companys longer-term foreign currency forward contracts had maturities of a maximum of 24months with a weighted-average maturity of approximately one year. The Company assesses the effectiveness of these foreign currency forward contracts based on changes in the spot rate of

Borrowings

Borrowings
	12 Months Ended Dec. 31, 2009 USD / shares
Borrowings [Abstract]
Borrowings	15. Borrowings The Companys outstanding borrowings at December31, 2009 and 2008 consisted of the following (in millions): December31, 2009 December31, 2008 Carrying Value Fair Value (e) Carrying Value Fair Value (e) Due in less than one year: Commercial paper $ $ $ 82.9 $ 82.9 Term loan (a) 500.0 500.0 Due in greater than one year: 5.400%notes, net of discount, due 2011 (b) 1,033.9 1,066.4 1,042.8 962.9 6.500%notes, net of discount, due 2014 (c) 498.6 559.5 5.930%notes, net of discount, due 2016 (d) 1,012.5 1,080.0 1,014.4 903.5 6.200%notes, net of discount, due 2036 497.5 499.4 497.4 391.4 Other borrowings 6.0 6.0 6.0 6.0 Total borrowings $ 3,048.5 $ 3,211.3 $ 3,143.5 $ 2,846.7 (a) The term loan due in December 2009 (Term Loan) was paid and financed with the issuance of the 6.500%notes due 2014 (2014 Notes) on February26, 2009. (b) At December31, 2009 and 2008, the Company held interest rate swaps related to the 5.400%notes due 2011 (2011 Notes) with an aggregate notional amount of $750million and $550million, respectively. The carrying value at December31, 2009 and 2008 contained $34.3million and $42.7million, respectively, of hedge accounting adjustments related to active swaps as well as the unamortized portion of previously terminated swaps. These hedge accounting adjustments will be reclassified as reductions to interest expense over the life of the 2011 Notes. (c) The 2014 Notes were issued on February26, 2009 and the proceeds were used to repay the Term Loan. (d) The carrying value at December31, 2009 and 2008 included $12.8million and $15.4million, respectively, of hedge accounting adjustments. The remaining unamortized portion of this previously terminated swap will be reclassified as a reduction to interest expense over the life of the 2016 Notes. (e) At December31, 2008, the fair value of commercial paper approximated its carrying value due to the short term nature of the obligations. The fair value of the Term Loan approximated its carrying value as it was a variable rate loan and Western Union credit spreads did not move significantly between the date of the borrowing (December5, 2008)and December31, 2008. The fair value of the fixed rate notes is determined by obtaining quotes from multiple independent banks and excludes the impact of discounts and related interest rate swaps. Exclusive of discounts and the fair value of the interest rate swaps, maturities of borrowings as of December31, 2009 are $1.0billion in 2011, $500million in 2014, and $1.5billion thereafter.

Stock Compensation Plans

Stock Compensation Plans
	12 Months Ended Dec. 31, 2009 USD / shares
Stock Compensation Plans [Abstract]
Stock Compensation Plans	16. Stock Compensation Plans Stock Compensation Plans The Western Union Company 2006 Long-Term Incentive Plan The Western Union Company 2006 Long-Term Incentive Plan (2006 LTIP) provides for the granting of stock options, restricted stock awards and units, unrestricted stock awards, and other equity-based awards to employees who perform services for the Company. A maximum of 120.0million shares of common stock may be awarded under the 2006 LTIP, of which 34.6million shares are available as of December31, 2009. Options granted under the 2006 LTIP are issued with exercise prices equal to the fair value of Western Union common stock on the grant date, have 10-year terms, and vest over four equal annual increments beginning 12months after the date of grant. Compensation expense related to stock options is recognized over the requisite service period. The requisite service period for stock options is the same as the vesting period, with the exception of retirement eligible employees, who have shorter requisite service periods ending when the employees become retirement eligible. Restricted stock awards and units granted under the 2006 LTIP typically become 100% vested on the three year anniversary of the grant date. The fair value of the awards granted is measured based on the fair value of the shares on the date of grant. Certain share unit grants do not provide for the payment of dividend equivalents. For those grants, the value of the grants is reduced by the net present value of the foregone dividend equivalent payments. The related compensation expense is recognized over the requisite service period which is the same as the vesting period. In February 2009, the Compensation Committee of the Companys board of directors granted the Companys executives long-term incentive awards under the 2006 LTIP which consisted of one-third restricted stock units, one-third stock option awards and one-third performance-based cash awards. The performance-based cash awards are based on strategic performance objectives for 2009 and 2010 and are payable in equal installments on the second and third anniversaries of the award, assuming the applicable performance objectives are satisfied. Based on their contributions to the Company and additional assumed responsibilities, certain executives received an incremental grant of restricted stock units which fully vest on the fourth anniversary of the grant date. Additionally, non-executive employees of the Company participating in the 2006 LTIP received annual equity grants of 50% stock option awards and 50% restricted stock units, representing a change from the 75% stock option awards and 25% restricted stock awards or units previously granted under the 2006 LTIP. The Western Union Company 2006 Non-Employee Director Equity Compensation Plan The Western Union Company 2006 Non-Employee Director Equity Compensation Plan (2006Director Plan) provides for the granting of equity-based awards to non-employee directors of the Company. Options granted under the 2006Director Plan are issued with exercise prices equal to the fair value of Western Union common stock at the gr

Segments

Segments
	12 Months Ended Dec. 31, 2009 USD / shares
Segments [Abstract]
Segments	17. Segments As previously described in Note1, the Company classifies its businesses into two reportable segments: consumer-to-consumer and global business payments. Operating segments are defined as components of an enterprise that engage in business activities, about which separate financial information is available that is evaluated regularly by the Companys chief operating decision maker (CODM) in deciding where to allocate resources and in assessing performance. The consumer-to-consumer reporting segment is viewed as one global network where a money transfer can be sent from one location to another, anywhere in the world. The segment consists of three regions, which primarily coordinate agent network management and marketing activities. The CODM makes decisions regarding resource allocation and monitors performance based on specific corridors within and across these regions, but also reviews total revenue and operating profit of each region. These regions frequently interact on transactions with consumers and share processes, systems and licenses, thereby constituting one global consumer-to-consumer money transfer network. The regions and corridors generally offer the same services distributed by the same agent network, have the same types of customers, are subject to similar regulatory requirements, are processed on the same system and have similar economic characteristics, allowing the geographic regions to be aggregated into one reporting segment. The global business payments (formerly consumer-to-business) segment processes payments from consumers or businesses to other businesses. The results of the Companys existing consumer-to-business operations as well as the newly acquired Custom House business have been combined in this segment as both are focused on facilitating payments. For further information on Custom House, see Note3, Acquisitions. All businesses that have not been classified into consumer-to-consumer or global business payments are reported as Other. These businesses primarily include the Companys money order services business. The Companys reportable segments are reviewed separately below because each reportable segment represents a strategic business unit that offers different products and serves different markets. The business segment measurements provided to, and evaluated by, the Companys CODM are computed in accordance with the following principles: The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. Corporate and other overhead is allocated to the segments primarily based on a percentage of the segments revenue compared to total revenue. Expenses incurred in connection with mergers and acquisitions are included in Other. During the year ended December31, 2009, the Company recorded an accrual of $71.0million for an anticipated agreement and settlement with the State of Arizona, which has not been allocated to the segments. On February11, 2010, the Company signed an agreement and settlement which resolved all outstanding legal issues and claims

Quarterly Financial Information

Quarterly Financial Information (Unaudited)
	12 Months Ended Dec. 31, 2009 USD / shares
Quarterly Financial Information (Unaudited) [Abstract]
Quarterly Financial Information (Unaudited)	18. Quarterly Financial Information (Unaudited) Summarized quarterly results for the years ended December31, 2009 and 2008 were as follows (in millions): Year Ended December31, 2009 by Quarter: Q1 Q2 Q3 Q4 2009 Revenues $ 1,201.2 $ 1,254.3 $ 1,314.1 $ 1,314.0 $ 5,083.6 Expenses (a) 860.3 912.6 1,032.6 995.4 3,800.9 Other expense, net 35.7 46.0 35.0 34.5 151.2 Income before income taxes 305.2 295.7 246.5 284.1 1,131.5 Provision for income taxes 81.3 75.5 65.5 60.4 282.7 Net income $ 223.9 $ 220.2 $ 181.0 $ 223.7 $ 848.8 Earnings per share: Basic $ 0.32 $ 0.31 $ 0.26 $ 0.32 $ 1.21 Diluted $ 0.32 $ 0.31 $ 0.26 $ 0.32 $ 1.21 Weighted-average shares outstanding: Basic 707.1 700.6 698.4 689.8 698.9 Diluted 708.0 702.7 701.6 693.2 701.0 (a) Includes $71.0million in the third quarter for an anticipated agreement and settlement with the State of Arizona. See Note6 Commitments and Contingencies for more information. Year Ended December31, 2008 by Quarter: Q1 Q2 Q3 Q4 2008 Revenues $ 1,265.9 $ 1,347.1 $ 1,377.4 $ 1,291.6 $ 5,282.0 Expenses (b) 956.6 1,010.9 1,002.2 957.3 3,927.0 Other expense, net 16.8 28.2 42.2 29.1 116.3 Income before income taxes 292.5 308.0 333.0 305.2 1,238.7 Provision for income taxes 85.4 76.5 92.2 65.6 319.7 Net income $ 207.1 $ 231.5 $ 240.8 $ 239.6 $ 919.0 Earnings per share: Basic $ 0.28 $ 0.31 $ 0.33 $ 0.34 $ 1.26 Diluted $ 0.27 $ 0.31 $

Schedule I - Condensed Financia

Schedule I - Condensed Financial Information of the Registrantant
	12 Months Ended Dec. 31, 2009 USD / shares
Condensed Financial Information of Registrant [Abstract]
Schedule I - Condensed Financial Information of the Registrant	Condensed Financial Information Of Parent Company Only Disclosure THE WESTERN UNION COMPANY SCHEDULEICONDENSED FINANCIAL INFORMATION OF THE REGISTRANT The following lists the condensed financial information for the parent company as of December31, 2009 and 2008 and statements of income and cash flows for each of the three years in the period ended December31, 2009. THE WESTERN UNION COMPANY CONDENSED BALANCE SHEETS (PARENT COMPANY ONLY) (in millions, except per share amounts) December31, 2009 2008 Assets Cash and cash equivalents $ 27.9 $ 281.0 Property and equipment, net of accumulated depreciation of $9.4 and $3.1, respectively 31.8 33.1 Other assets 82.1 106.4 Investment in subsidiaries 3,722.4 3,387.0 Total assets $ 3,864.2 $ 3,807.5 Liabilities and Stockholders Equity/(Deficiency) Liabilities: Accounts payable and accrued liabilities 69.3 54.2 Payable to subsidiaries, net 397.4 622.2 Borrowings 3,042.5 3,137.5 Other liabilities 1.5 1.7 Total liabilities 3,510.7 3,815.6 Stockholders equity/(deficiency): Preferred stock, $1.00par value; 10shares authorized; no shares issued Common stock, $0.01par value; 2,000shares authorized; 686.5 and 709.6shares issued and outstanding at December31, 2009 and 2008, respectively 6.9 7.1 Capital surplus/(deficiency) 40.7 (14.4 ) Retained earnings 433.2 29.2 Accumulated other comprehensive loss (127.3 ) (30.0 ) Total stockholders equity/(deficiency) 353.5 (8.1 ) Total liabilities and stockholders equity/(deficiency) $ 3,864.2 $ 3,807.5 See Notes to Condensed Financial Statements. THE WESTERN UNION COMPANY CONDENSED STATEMENTS OF OPERATIONS (PARENT COMPANY ONLY) (in millions) For the Years Ended December31, 2009 2008 2007 Revenues $ $ $ Expenses Operating income Interest income 1.8 2.8 1.1 Interest expense (157.3 ) (171.0 ) (188.7 ) Loss before equity in earnings of affiliates and income taxes (155.5 ) (168.2 ) (187.6 ) Equity in earnings of affiliates, net of tax 941.7 1,022.3 972.3 Income tax benefit 62.6 64.9 72.6