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TEXT-EXTRACT
2
filename2.txt
Mail Stop 3561
September 19,
2018
Rajesh K. Agrawal
Executive Vice President and Chief Financial Officer
The Western Union Company
12500 East Belford Avenue
Englewood, CO 80112
Re: The Western Union Company
Form 10-K for the Fiscal Year Ended December 31, 2017
Filed February 22, 2018
Form 10-Q for the Quarterly Period Ended June 30, 2018
Filed August 2, 2018
File No. 001-32903
Dear Mr. Agrawal:
We have limited our review of your filing to the financial statements
and related
disclosures and have the following comments. In some of our comments, we may
ask you to
provide us with information so we may better understand your disclosure.
Please respond to these comments within ten business days by
providing the requested
information or advise us as soon as possible when you will respond. If you
do not believe our
comments apply to your facts and circumstances, please tell us why in your
response.
After reviewing your response to these comments, we may have
additional comments.
Form 10-K for the Fiscal Year Ended December 31, 2017
Item 8. Financial Statements and Supplementary Data
Consolidated Statements of Cash Flows, page 91
1. Please tell us your basis for classifying the capitalization of
contract costs as an investing
cash flow activity as opposed to an operating activity.
Rajesh K. Agrawal
The Western Union Company
September 19, 2018
Page 2
Form 10-Q for the Quarterly Period Ended June 30, 2018
Item 1. Financial Statements (unaudited)
Note 2. Revenue, page 10
2. We note your disclosure that when more than one party is involved in
providing services
to a customer, you generally act as the principal and report revenue on a
gross basis.
Please tell us which arrangements involve third parties and tell us how
you determined
you control each service before it is transferred to the customer. In
addition, we note
your disclosure on page 51 regarding agent commissions. Please help us
understand the
nature of these agent services. Reference ASC 606-10-55-36 through 40.
We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence of
action by the staff.
You may contact Robert Babula, Staff Accountant at (202) 551-3339, or
Elizabeth
Sellars, Staff Accountant at (202) 551-3348, if you have questions regarding
these comments on
the financial statements and related matters. Please contact me at (202)
551-3737 with any other
questions.
Sincerely,
/s/ Jennifer
Thompson
Jennifer Thompson
Accounting Branch
Chief
Office of Consumer
Products