Western Union CO
For the period ended Mar 31, 2026. Filed Apr 24, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed Apr 24, 2026
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5. 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 the Company measures fair value, refer to the Company’s consolidated financial statements within the Company’s Annual Report on Form 10‑K for the year ended December 31, 2025.
The following tables present the Company’s assets and liabilities, which are measured at fair value on a recurring basis, by category (in millions):
| Fair Value Measurement Using · Total | |||
|---|---|---|---|
| March 31, 2026 | Level 1 | Level 2 | Fair Value |
| Assets: | |||
| Settlement assets: | |||
| Measured at fair value through net income: | |||
| Money market funds | $57.5 | $— | $57.5 |
| Measured at fair value through other comprehensive income (net of expected credit losses recorded through net income): | |||
| State and municipal debt securities | — | 1,110.4 | 1,110.4 |
| Asset-backed securities | — | 153.7 | 153.7 |
| Corporate debt and other securities | — | 182.4 | 182.4 |
| Other assets: | |||
| Derivatives | — | 20.3 | 20.3 |
| Total assets | $57.5 | $1,466.8 | $1,524.3 |
| Liabilities: | |||
| Other liabilities: | |||
| Derivatives | $— | $28.4 | $28.4 |
| Total liabilities | $— | $28.4 | $28.4 |
| Fair Value Measurement Using · Total | |||
|---|---|---|---|
| December 31, 2025 | Level 1 | Level 2 | Fair 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 | — | 1,131.4 | 1,131.4 |
| Asset-backed securities | — | 157.8 | 157.8 |
| Corporate debt and other securities | — | 155.9 | 155.9 |
| Other assets: | |||
| Derivatives | — | 15.3 | 15.3 |
| Total assets | $44.2 | $1,460.4 | $1,504.6 |
| Liabilities: | |||
| Other liabilities: | |||
| Derivatives | $— | $40.2 | $40.2 |
| Total liabilities | $— | $40.2 | $40.2 |
There were no material, non-recurring fair value adjustments in the three months ended March 31, 2026 and 2025. There were no transfers between Level 1 and Level 2 measurements during the three months ended March 31, 2026 and 2025.
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 Condensed Consolidated Balance Sheets at their original issuance values as adjusted over time to accrete that value to par. As of March 31, 2026, the carrying value and fair value of the Company’s borrowings were$2,623.3 million and $2,609.3 million, respectively (see Note 11). 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.
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