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The discussion regarding litigation in Part II, Item 8 - Financial Statements and Supplementary Data and Note 20, Litigation and Contingencies, to the Consolidated Financial Statements included elsewhere in this report is incorporated herein by reference.
−Removed: From time to time, the Company is a party to legal or regulatory proceedings arising in the ordinary course of the Company's business.
−Removed: In accordance with U.S.
−Removed: GAAP, the Company records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated.
−Removed: Currently , there are no legal proceeding s or regulatory findings which are both probable that a liability has been incurred and can be reasonably estimated that management believes, either individually or in the aggregate, would have a material adverse effect on the Company's consolidated financial condition or results of operations.
−Removed: These provisions are reviewed at least quarterly and adjusted to reflect the impacts of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case.
−Removed: During July 2024, the
−Removed: Company received an adverse judicial decision related to withholding taxes on
−Removed: certain agency relationships in Italy within the Money Transfer Segment, which
−Removed: the Company has appealed.
−Removed: In January 2025, the Company received a positive
−Removed: judicial decision in the same court related to the same issue but corresponding
−Removed: to a different taxable period.
−Removed: The Company completed an assessment and
−Removed: concluded that it is reasonably possible that a liability has been
−Removed: incurred, but not probable.
−Removed: The principal amount of the agent-based withholding tax could be approximately $ 16.5 million for all open periods.
+Added: Since July 2024, the Company has received multiple differing judicial decisions at the same tax court addressing withholding taxes on certain agency relationships within the Money Transfer Segment in Italy.
+Added: The company intends to appeal or has appealed these decisions to a higher court for ultimate resolution.
+Added: Based on its assessment of the available facts and circumstances, including the differing judicial outcomes and ongoing appeals, management concluded that a loss is reasonably possible, but not probable, as defined under ASC 450, and therefore no liability has been recorded as of the reporting date.
+Added: The principal amount of the potential withholding tax exposure for all open periods could be approximately EUR 19.4 million, exclusive of potential interest and penalties, if any.
+Added: In March 2025, the Company was notified of a fire, resulting in the loss of Malaysian Ringgit notes in the custody of a third-party service provider.
+Added: The third-party service provider had the risk of loss based on the terms of the contractual arrangement.
+Added: The bank note balance of approximately $11.0 million was moved to other receivables as of March 31, 2025.
+Added: At this time the Company has determined that it is probable the other receivable will be recovered.
Mine Safety Disclosures
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.