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Midas Edge

Western Union CO

For the period ended Dec 31, 2025. Filed Feb 20, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 20, 2026

WU$6.86-0.3%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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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. Refer to Note 2 for additional information on how the Company measures fair value.

The following tables present the Company’s assets and liabilities which are measured at fair value on a recurring basis, by balance sheet category (in millions):

Fair Value Measurement Using · Total
December 31, 2025Level 1Level 2Fair Value
Assets:
Settlement assets:
Measured at fair value through net income:
Money market funds$44.2$—$44.2
Measured at fair value through other comprehensive income (net of expected credit losses recorded through net income):
State and municipal debt securities—1,131.41,131.4
Asset-backed securities—157.8157.8
Corporate debt and other securities—155.9155.9
Other assets:
Derivatives—15.315.3
Total assets$44.2$1,460.4$1,504.6
Liabilities:
Other liabilities:
Derivatives$—$40.2$40.2
Total liabilities$—$40.2$40.2
Fair Value Measurement Using · Total
December 31, 2024Level 1Level 2Fair Value
Assets:
Settlement assets:
Measured at fair value through net income:
Money market funds$32.6$—$32.6
Measured at fair value through other comprehensive income (net of expected credit losses recorded through net income):
State and municipal debt securities—1,029.01,029.0
Asset-backed securities—211.2211.2
Corporate debt and other securities—92.192.1
Other assets:
Derivatives—29.529.5
Total assets$32.6$1,361.8$1,394.4
Liabilities:
Other liabilities:
Derivatives$—$3.6$3.6
Total liabilities$—$3.6$3.6

There were no material, non-recurring fair value adjustments for the year ended December 31, 2025. For the year ended December 31, 2024, non-recurring fair value adjustments were approximately $13 million for impairments related to the Company’s assets in Russia. For the year ended December 31, 2023, non-recurring fair value adjustments were approximately $12 million for impairments primarily related to software no longer in use and property and equipment. There were no transfers between Level 1 and Level 2 measurements during the years ended December 31, 2025 and 2024.

Other Fair Value Measurements

The carrying amounts for many of the Company’s financial instruments, including certain cash and cash equivalents, settlement cash and cash equivalents, and settlement receivables and obligations approximate fair value due to their short maturities. The Company’s borrowings are classified as Level 2 within the valuation hierarchy, and the aggregate fair value of these borrowings was based on quotes from multiple banks. Fixed-rate notes are carried in the Company’s Consolidated Balance Sheets at their original issuance values as adjusted over time to amortize or accrete that value to par. As of December 31, 2025, the carrying value and fair value of the Company’s borrowings were$2,877.8 million and $2,881.3 million, respectively (see Note 14). As of December 31, 2024, the carrying value and fair value of the Company’s borrowings were$2,940.8 million and $2,876.7 million, respectively.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.