3 unchanged sentences
The following table sets forth stock repurchases for each of the three months of the quarter ended December 31, 2020:
−Removed: Remaining Dollar
+Added: Approximate Dollar
Total Number of Shares
14 unchanged sentences
These amounts represent both shares authorized by the Board of Directors for repurchase under a publicly announced authorization, as described below, as well as shares withheld from employees to cover tax withholding obligations on restricted stock units that have vested.
−Removed: On February 9, 2017, the Board of Directors authorized $1.2 billion of common stock repurchases through December 31, 2019, of which $4.3 million expired unused.
−Removed: On February 28, 2019, our Board of Directors authorized $1.0 billion of common stock repurchases through December 31, 2021, all of which remained available as of December 31, 2019.
+Added: For the three months ended December 31, 2020, there were no share repurchases under a publicly announced authorization.
+Added: On February 28, 2019, our Board of Directors authorized $1.0 billion of common stock repurchases through December 31, 2021, of which $782.6 million remained available as of December 31, 2020.
In certain instances, management has historically and may continue to establish prearranged written plans pursuant to Rule 10b5-1.
9 unchanged sentences
These payments will adversely affect our cash flow and liquidity and may adversely affect future share repurchases.
+Added: During the first quarter of 2020, we temporarily paused and did not resume share repurchases under a publicly announced authorization through December 31, 2020.
On February 10, 2021, the Board of Directors declared a quarterly cash dividend of $0.235 per common share payable on March 31, 2021.
Selected Financial Data
−Removed: The financial information in this Annual Report on Form 10-K is presented on a consolidated basis and includes the accounts of the Company and our majority-owned subsidiaries.
−Removed: Our selected historical financial data are not necessarily indicative of our future financial condition, future results of operations, or future cash flows.
−Removed: The information set forth below should be read in conjunction with our historical consolidated financial statements and the notes to those statements included elsewhere in this Annual Report on Form 10-K.
−Removed: Year Ended December 31,
−Removed: (in millions, except per share data)
−Removed: Statements of income/(loss) data:
−Removed: Operating expenses (b)
−Removed: Operating income (a) (b)
−Removed: Gain on divestitures of businesses (c)
−Removed: Interest income (d)
−Removed: Interest expense (e)
−Removed: Other income/(expense), net
−Removed: Income before income taxes (a) (b) (c) (d) (e)
−Removed: Net income/(loss) (a) (b) (c) (d) (e) (f)
−Removed: Depreciation and amortization
−Removed: Cash flow data:
−Removed: Net cash provided by operating activities (g)
−Removed: Capital expenditures (h)
−Removed: Common stock repurchased (i)
−Removed: Earnings/(loss) per share data:
−Removed: Basic (a) (b) (c) (d) (e) (f) (i)
−Removed: Diluted (a) (b) (c) (d) (e) (f) (i)
−Removed: Cash dividends declared per common share (j)
−Removed: Key indicators (unaudited):
−Removed: Consumer-to-Consumer transactions
−Removed: As of December 31,
−Removed: (in millions)
−Removed: Balance sheet data:
−Removed: Settlement assets
−Removed: Settlement obligations
−Removed: Total liabilities
−Removed: Total stockholders’ equity/(deficit)
−Removed: (a) On May 9, 2019, we completed the sale of our United States electronic bill payments business known as Speedpay to ACI Worldwide Corp.
−Removed: and ACW Worldwide, Inc.
−Removed: for cash consideration of approximately $750 million.
−Removed: Speedpay revenues included in our results were $125.4 million and $352.0 million for the years ended December 31, 2019 and 2018, respectively.
−Removed: (b) For the year ended December 31, 2019, operating expenses included $115.5 million of expenses incurred in connection with an overall restructuring plan, approved by our Board of Directors on August 1, 2019, to improve our business processes and cost structure by reducing headcount and consolidating various facilities.
−Removed: For the years ended December 31, 2019 and 2018, direct operating expenses for Speedpay, which was divested in 2019, were $98.2 million and $251.2 million, respectively.
−Removed: For the year ended December 31, 2017, operating expenses included a non-cash goodwill impairment charge of $464.0 million related to our Business Solutions reporting unit, as described in Part II, Item 8, Financial Statements and Supplementary Data , Note 5, Divestitures, Business Combinations, and Goodwill, and $60.0 million of expenses related to the NYDFS Consent Order.
−Removed: For the year ended December 31, 2016, operating expenses included $601.0 million of expenses as a result of the Joint Settlement Agreements, as described in Part II, Item 8, Financial Statements and Supplementary Data , Note 6, Commitments and Contingencies.
−Removed: For the year ended December 31, 2015, operating expenses included $35.3 million of expenses as a result of the Paymap Settlement Agreement.
−Removed: (c) For the year ended December 31, 2019, we recorded a pre-tax gain primarily related to our sale of Speedpay to ACI Worldwide Corp.
−Removed: and ACW Worldwide, Inc.
−Removed: as described in Part II, Item 8, Financial Statements and Supplementary Data , Note 5, Divestitures, Business Combinations, and Goodwill.
−Removed: (d) Interest income consists of interest earned on cash and other investments not required to satisfy settlement obligations.
−Removed: (e) Interest expense primarily relates to our outstanding borrowings.
−Removed: (f) For the year ended December 31, 2017, our provision for income taxes included an estimated $828 million related to the enactment of the Tax Act into United States law, primarily due to a tax on certain previously undistributed earnings of foreign subsidiaries, partially offset by the remeasurement of deferred tax assets and liabilities and other tax balances to reflect the lower federal income tax rate, among other effects.
−Removed: During the year ended December 31, 2018, we completed our accounting for the Tax Act’s impacts that were provisionally estimated as of December 31, 2017 and recorded an additional $22.5 million of income tax expense, as discussed in Part II, Item 8, Financial Statements and Supplementary Data , Note 11, Income Taxes.
−Removed: (g) Net cash provided by operating activities during the year ended December 31, 2019 was impacted by an increase in taxes resulting from the net gain on divestitures, as discussed in Part II, Item 8, Financial Statements and Supplementary Data , Note 5, Divestitures, Business Combinations, and Goodwill, and payments of approximately $38 million related to our restructuring plan as discussed in Part II, Item 8, Financial Statements and Supplementary Data , Note 4, Restructuring-Related Expenses and Business Transformation Expenses.
−Removed: Net cash provided by operating activities during the year ended December 31, 2018 was negatively impacted by approximately $120 million of payments related to an agreement with the Internal Revenue Service resolving substantially all of the issues related to our restructuring of our international operations in 2003, as further described in Part II, Item 8, Financial Statements and Supplementary Data, Note 11, Income Taxes, $64 million of payments related to tax on certain of our previously undistributed foreign earnings associated with the Tax Act, and an approximately $60 million payment related to the NYDFS Consent Order.
−Removed: Net cash provided by operating activities during the year ended December 31, 2017 was impacted by cash payments of approximately $591 million and $77.3 million pursuant to the Joint Settlement Agreements and WU Way business transformation initiative, respectively.
−Removed: (h) Capital expenditures include capitalization of contract costs, capitalization of purchased and developed software, and purchases of property and equipment.
−Removed: (i) On February 28, 2019, the Board of Directors authorized $1.0 billion of common stock repurchases through December 31, 2021, all of which remained available as of December 31, 2019.
−Removed: During the years ended December 31, 2019, 2018, 2017, 2016, and 2015, we repurchased 26.9 million, 20.2 million, 24.9 million, 24.8 million, and 25.1 million shares, respectively, under authorizations from our Board of Directors.
−Removed: (j) Cash dividends per share declared quarterly by our Board of Directors were as follows:
+Added: Discussion was omitted pursuant to SEC Release 33-10890.
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.