Western Union CO

The calculation of basic earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding for the period. Outstanding options to purchase Western Union stock and 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 and the unamortized compensation expense of options and restricted stock are available to acquire shares at an average market price throughout the period, and therefore, reduce the dilutive effect.

Shares excluded from the diluted earnings per share calculation were 17.3 million and 12.4 million for the three months ended June 30, 2025 and 2024, respectively, and 15.7 million and 11.9 million for the six months ended June 30, 2025 and 2024, respectively. The effect of these shares was anti-dilutive under the treasury stock method, as the assumed proceeds of the options and restricted stock per unit were above the Company's average share price during the periods.

The following table provides the calculation of diluted weighted-average shares outstanding (in millions):

4. Acquisition

Eurochange Limited

On April 7, 2025, the Company acquired the entire share capital of Eurochange Limited(“Eurochange”). Management believes that the acquisition of Eurochange will better enable the Company to deliver accessible financial services to consumers by expanding its travel money services and owned locations in the United Kingdom. Eurochange primarily provides travel money services through a network of owned locations, agent locations, kiosks, and online platforms.