Segment Information

6 Months Ended

Jun. 30, 2012

Segment Information [Abstract]

Segment Information

Note 16 — Segment Information

The Company’s reporting segments are primarily organized based on the nature of products and services offered and the type of consumer served. The Company primarily manages its business through two reporting segments: Global Funds Transfer and Financial Paper Products. The Global Funds Transfer segment provides global money transfers and bill payment services to consumers through a network of agents and, in select markets, company-operated locations. The Financial Paper Products segment provides money orders to consumers through retail and financial institution locations in the United States and Puerto Rico, and provides official check services to financial institutions in the United States. One of the Company’s agents of both the Global Funds Transfer segment and the Financial Paper Products segment accounted for 28.1 percent and 28.3 percent of total revenue for the three months ended June 30, 2012 and 2011, respectively, and 28.6 percent and 29.2 percent for the six months ended June 30, 2012 and 2011, respectively.

The following tables set forth revenue, operating results, depreciation and amortization, capital expenditures and assets by segment:

	Three Months Ended June 30,						Six Months Ended June 30,
(Amounts in thousands)	2012			2011			2012			2011
Revenue
Global Funds Transfer:
Money transfer	$	282,262		$	256,285		$	550,753		$	495,989
Bill payment		26,008			27,554			53,652			57,631
Total Global Funds Transfer		308,270			283,839			604,405			553,620
Financial Paper Products:
Money order		14,518			15,623			29,408			31,353
Official check		7,001			10,016			13,779			18,182
Total Financial Paper Products		21,519			25,639			43,187			49,535
Other		353			475			645			822
Total revenue	$	330,142		$	309,953		$	648,237		$	603,977
	Three Months Ended June 30,						Six Months Ended June 30,
(Amounts in thousands)	2012			2011			2012			2011
Segment operating income:
Global Funds Transfer	$	38,626		$	25,911		$	71,908		$	52,358
Financial Paper Products		8,080			9,344			17,070			17,724
Other		(488	)		(400	)		(1,057	)		(663	)
Total segment operating income		46,218			34,855			87,921			69,419
Other unallocated expenses		43,085			597			48,857			3,460
Total operating income		3,133			34,258			39,064			65,959
Net securities gains		—			(32,816	)		—			(32,816	)
Interest expense		17,637			22,873			35,520			43,486
Other		347			14,856			347			14,856
(Loss) income before income taxes	$	(14,851	)	$	29,345		$	3,197		$	40,433

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Amounts in thousands)	2012		2011		2012		2011
Depreciation and amortization:
Global Funds Transfer	$	9,416	$	10,351	$	19,166	$	20,464
Financial Paper Products		897		1,504		1,812		3,049
Other		740		24		758		32
Total depreciation and amortization	$	11,053	$	11,879	$	21,736	$	23,545
Capital expenditures:
Global Funds Transfer	$	10,416	$	11,601	$	19,953	$	18,492
Financial Paper Products		1,292		2,611		3,325		3,485
Total capital expenditures	$	11,708	$	14,212	$	23,278	$	21,977

	June 30,		December 31,
(Amounts in thousands)	2012		2011
Assets:
Global Funds Transfer	$	1,445,862	$	1,247,355
Financial Paper Products		3,447,031		3,683,393
Other		292,169		244,830
Total assets	$	5,185,062	$	5,175,578

Geographic areas — International operations are located principally in Europe. International revenues are defined as revenues generated from money transfer transactions originating in a country other than the United States. The table below presents revenue by major geographic area for the three and six months ended June 30:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Amounts in thousands)	2012		2011		2012		2011
United States	$	205,079	$	192,205	$	405,611	$	380,103
International		125,063		117,748		242,626		223,874
Total revenue	$	330,142	$	309,953	$	648,237	$	603,977